Document:

Unassociated Document

     

     

     

     

    

      BEAR
        STEARNS ASSET BACKED SECURITIES I LLC,

       

      Depositor,

       

      EMC
        MORTGAGE CORPORATION,

       

      Seller
        and Master Servicer,

       

      and

       

      LASALLE
        BANK NATIONAL ASSOCIATION,

       

      Trustee

       

      ____________________

       

      POOLING
        AND SERVICING AGREEMENT

       

      Dated
        as
        of May 1, 2006

       

      ________________________________________

       

      BEAR
        STEARNS ASSET BACKED SECURITIES I TRUST 2006-HE5

       

      ASSET-BACKED
        CERTIFICATES, SERIES 2006-HE5

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      TABLE
        OF
        CONTENTS

       

       

      ARTICLE
        I

       

      DEFINITIONS

       

      
        	
                Section
                  1.01

              	
                Defined
                  Terms.

              
	
                Section
                  1.02

              	
                Allocation
                  of Certain Interest Shortfalls.

              
	 	 
	
                ARTICLE
                  II

              
	 
	
                CONVEYANCE
                  OF TRUST FUND

              
	 
	
                Section
                  2.01

              	
                Conveyance
                  of Trust Fund.

              
	
                Section
                  2.02

              	
                Acceptance
                  of the Mortgage Loans.

              
	
                Section
                  2.03

              	
                Representations,
                  Warranties and Covenants of the Master Servicer and The
                  Seller.

              
	
                Section
                  2.04

              	
                Representations
                  and Warranties of the Depositor.

              
	
                Section
                  2.05

              	
                Delivery
                  of Opinion of Counsel in Connection with Substitutions and
                  Repurchases.

              
	
                Section
                  2.06

              	
                Countersignature
                  and Delivery of Certificates.

              
	
                Section
                  2.07

              	
                Purposes
                  and Powers of the Trust.

              
	 	 
	
                ARTICLE
                  III

              
	 	 
	
                ADMINISTRATION
                  AND SERVICING OF THE MORTGAGE LOANS

              
	 	 
	
                Section
                  3.01

              	
                The
                  Master Servicer to act as Master Servicer.

              
	
                Section
                  3.02

              	
                Due-on-Sale
                  Clauses; Assumption Agreements.

              
	
                Section
                  3.03

              	
                Subservicers.

              
	
                Section
                  3.04

              	
                Documents,
                  Records and Funds in Possession of the Master Servicer To Be Held
                  for
                  Trustee.

              
	
                Section
                  3.05

              	
                Maintenance
                  of Hazard Insurance.

              
	
                Section
                  3.06

              	
                Presentment
                  of Claims and Collection of Proceeds.

              
	
                Section
                  3.07

              	
                Maintenance
                  of the Primary Mortgage Insurance Policies.

              
	
                Section
                  3.08

              	
                Fidelity
                  Bond, Errors and Omissions Insurance.

              
	
                Section
                  3.09

              	
                Realization
                  Upon Defaulted Mortgage Loans; Determination of Excess Liquidation
                  Proceeds and Realized Losses; Repurchases of Certain Mortgage
                  Loans.

              
	
                Section
                  3.10

              	
                Servicing
                  Compensation.

              
	
                Section
                  3.11

              	
                REO
                  Property.

              
	
                Section
                  3.12

              	
                Liquidation
                  Reports.

              
	
                Section
                  3.13

              	
                Annual
                  Statement as to Compliance.

              
	
                Section
                  3.14

              	
                Assessments
                  of Compliance and Attestation Reports.

              
	
                Section
                  3.15

              	
                Books
                  and Records.

              
	
                Section
                  3.16

              	
                Reports
                  Filed with Securities and Exchange Commission.

              
	
                Section
                  3.17

              	
                Intention
                  of the Parties and Interpretation.

              
	
                Section
                  3.18

              	
                UCC.

              
	
                Section
                  3.19

              	
                Optional
                  Purchase of Certain Mortgage Loans.

              
	
                Section
                  3.20

              	
                Obligations
                  of the Master Servicer in Respect of Mortgage Rates and Scheduled
                  Payments.

              
	
                Section
                  3.21

              	
                Reserve
                  Fund; Payments to and from Swap Administrator; Supplemental Interest
                  Trust.

              
	
                Section
                  3.22

              	
                Tax
                  Treatment of Class IO Distribution Amounts in the Event of
                  Resecuritization of Class A Certificates or Class M
                  Certificates.

              
	
                Section
                  3.23

              	
                Advancing
                  Facility.

              
	 	 
	
                ARTICLE
                  IV

              
	 	 
	
                ACCOUNTS

              
	 	 
	
                Section
                  4.01

              	
                Collection
                  of Mortgage Loan Payments; Protected Account.

              
	
                Section
                  4.02

              	
                Permitted
                  Withdrawals From the Protected Account.

              
	
                Section
                  4.03

              	
                Collection
                  of Taxes; Assessments and Similar Items; Escrow
                  Accounts.

              
	
                Section
                  4.04

              	
                Distribution
                  Account.

              
	
                Section
                  4.05

              	
                Permitted
                  Withdrawals and Transfers from the Distribution
                  Account.

              
	
                Section
                  4.06

              	
                Class
                  P Certificate Account.

              
	 	 
	
                ARTICLE
                  V

              
	 	 
	
                DISTRIBUTIONS
                  AND ADVANCES

              
	 	 
	
                Section
                  5.01

              	
                Advances.

              
	
                Section
                  5.02

              	
                Compensating
                  Interest Payments.

              
	
                Section
                  5.03

              	
                REMIC
                  Distributions.

              
	
                Section
                  5.04

              	
                Distributions.

              
	
                Section
                  5.05

              	
                Allocation
                  of Realized Losses.

              
	
                Section
                  5.06

              	
                Monthly
                  Statements to Certificateholders.

              
	
                Section
                  5.07

              	
                REMIC
                  Designations and REMIC Distributions.

              
	 	 
	
                ARTICLE
                  VI

              
	 	 
	
                THE
                  CERTIFICATES

              
	 	 
	
                Section
                  6.01

              	
                The
                  Certificates.

              
	
                Section
                  6.02

              	
                Certificate
                  Register; Registration of Transfer and Exchange of
                  Certificates.

              
	
                Section
                  6.03

              	
                Mutilated,
                  Destroyed, Lost or Stolen Certificates.

              
	
                Section
                  6.04

              	
                Persons
                  Deemed Owners.

              
	
                Section
                  6.05

              	
                Access
                  to List of Certificateholders’ Names and Addresses.

              
	
                Section
                  6.06

              	
                Book-Entry
                  Certificates.

              
	
                Section
                  6.07

              	
                Notices
                  to Depository.

              
	
                Section
                  6.08

              	
                Definitive
                  Certificates.

              
	
                Section
                  6.09

              	
                Maintenance
                  of Office or Agency.

              
	 	 
	
                ARTICLE
                  VII

              
	 	 
	
                THE
                  DEPOSITOR AND THE MASTER SERVICER

              
	 	 
	
                Section
                  7.01

              	
                Liabilities
                  of the Depositor and the Master Servicer.

              
	
                Section
                  7.02

              	
                Merger
                  or Consolidation of the Depositor or the Master
                  Servicer.

              
	
                Section
                  7.03

              	
                Indemnification
                  of the Trustee and the Master Servicer.

              
	
                Section
                  7.04

              	
                Limitations
                  on Liability of the Depositor, the Master Servicer and
                  Others

              
	
                Section
                  7.05

              	
                Master
                  Servicer Not to Resign

              
	
                Section
                  7.06

              	
                Successor
                  Master Servicer

              
	
                Section
                  7.07

              	
                Sale
                  and Assignment of Master Servicing

              
	 	 
	
                ARTICLE
                  VIII

              
	 	 
	
                DEFAULT;
                  TERMINATION OF MASTER SERVICER

              
	 	 
	
                Section
                  8.01

              	
                Events
                  of Default.

              
	
                Section
                  8.02

              	
                Trustee
                  to Act; Appointment of Successor.

              
	
                Section
                  8.03

              	
                Notification
                  to Certificateholders.

              
	
                Section
                  8.04

              	
                Waiver
                  of Defaults.

              
	 	 
	
                ARTICLE
                  IX

              
	 	 
	
                CONCERNING
                  THE TRUSTEE

              
	 	 
	
                Section
                  9.01

              	
                Duties
                  of Trustee.

              
	
                Section
                  9.02

              	
                Certain
                  Matters Affecting the Trustee.

              
	
                Section
                  9.03

              	
                Trustee
                  Not Liable for Certificates or Mortgage Loans.

              
	
                Section
                  9.04

              	
                Trustee
                  May Own Certificates.

              
	
                Section
                  9.05

              	
                Trustee’s
                  Fees and Expenses.

              
	
                Section
                  9.06

              	
                Eligibility
                  Requirements for Trustee.

              
	
                Section
                  9.07

              	
                Insurance.

              
	
                Section
                  9.08

              	
                Resignation
                  and Removal of Trustee.

              
	
                Section
                  9.09

              	
                Successor
                  Trustee.

              
	
                Section
                  9.10

              	
                Merger
                  or Consolidation of Trustee.

              
	
                Section
                  9.11

              	
                Appointment
                  of Co-Trustee or Separate Trustee.

              
	
                Section
                  9.12

              	
                Tax
                  Matters.

              
	 	 
	
                ARTICLE
                  X

              
	 	 
	
                TERMINATION

              
	 	 
	
                Section
                  10.01

              	
                Termination
                  upon Liquidation or Repurchase of all Mortgage Loans.

              
	
                Section
                  10.02

              	
                Final
                  Distribution on the Certificates.

              
	
                Section
                  10.03

              	
                Additional
                  Termination Requirements.

              
	 	 
	
                ARTICLE
                  XI

              
	 	 
	
                MISCELLANEOUS
                  PROVISIONS

              
	 	 
	
                Section
                  11.01

              	
                Amendment.

              
	
                Section
                  11.02

              	
                Recordation
                  of Agreement; Counterparts.

              
	
                Section
                  11.03

              	
                Governing
                  Law.

              
	
                Section
                  11.04

              	
                Intention
                  of Parties.

              
	
                Section
                  11.05

              	
                Notices.

              
	
                Section
                  11.06

              	
                Severability
                  of Provisions.

              
	
                Section
                  11.07

              	
                Assignment.

              
	
                Section
                  11.08

              	
                Limitation
                  on Rights of Certificateholders.

              
	
                Section
                  11.09

              	
                Inspection
                  and Audit Rights.

              
	
                Section
                  11.10

              	
                Certificates
                  Nonassessable and Fully Paid.

              
	
                Section
                  11.11

              	
                Third
                  Party Rights.

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Exhibits

       

      
        	
                Exhibit
                  A-1

              	
                Form
                  of Class A Certificates

              
	
                Exhibit
                  A-2

              	
                Form
                  of Class M Certificates

              
	
                Exhibit
                  A-3

              	
                Form
                  of Class P Certificates

              
	
                Exhibit
                  A-4

              	
                Form
                  of Class CE Certificates

              
	
                Exhibit
                  A-5

              	
                Form
                  of Class R Certificates

              
	
                Exhibit
                  B

              	
                Mortgage
                  Loan Schedule

              
	
                Exhibit
                  C

              	
                Form
                  of Transfer Affidavit

              
	
                Exhibit
                  D

              	
                Form
                  of Transferor Certificate

              
	
                Exhibit
                  E

              	
                Form
                  of Investment Letter (Non-Rule 144A)

              
	
                Exhibit
                  F

              	
                Form
                  of Rule 144A and Related Matters Certificate

              
	
                Exhibit
                  G

              	
                Form
                  of Request for Release

              
	
                Exhibit
                  H

              	
                DTC
                  Letter of Representations

              
	
                Exhibit
                  I

              	
                Schedule
                  of Mortgage Loans with Lost Notes

              
	
                Exhibit
                  J

              	
                Form
                  of Custodial Agreement

              
	
                Exhibit
                  K

              	
                Form
                  of Back-Up Certification

              
	
                Exhibit
                  L

              	
                Form
                  of Mortgage Loan Purchase Agreement

              
	
                Exhibit
                  M

              	
                Swap
                  Agreement

              
	
                Exhibit
                  N

              	
                [Reserved]

              
	
                Exhibit
                  O

              	
                [Reserved]

              
	
                Exhibit
                  P 

              	
                Servicing
                  Criteria to Be Addressed in Assessment of Compliance

              
	
                Exhibit
                  Q

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

              
	
                Exhibit
                  R

              	
                Additional
                  Disclosure Notification

              

      

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

      POOLING
        AND SERVICING AGREEMENT, dated as of May 1, 2006, among BEAR STEARNS ASSET
        BACKED SECURITIES I LLC, a Delaware limited liability company, as depositor
        (the
“Depositor”), EMC MORTGAGE CORPORATION, a Delaware corporation, as sponsor (in
        such capacity, the “Seller”) and as master servicer (in such capacity, the
“Master Servicer”) and LASALLE BANK NATIONAL ASSOCIATION, a national banking
        association (the “Trustee”).

       

      PRELIMINARY
        STATEMENT

       

      The
        Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee
        in return for the Certificates.

       

      REMIC
        I

       

      As
        provided herein, the Trustee will elect to treat the segregated pool of assets
        consisting of the Mortgage Loans and certain other related assets subject
        to
        this Agreement (other than the Reserve Fund, any Prepayment Charge Waiver
        Amounts and, for the avoidance of doubt, the Supplemental Interest Trust,
        the
        Swap Agreement, the Swap Account and any rights or obligations in respect
        of the
        Swap Administration Agreement) as a REMIC (as defined herein) for federal
        income
        tax purposes, and such segregated pool of assets will be designated as “REMIC
        I”. The Class R-1 Certificates will be the sole class of Residual Interests
        (as
        defined herein) in REMIC I for purposes of the REMIC Provisions (as defined
        herein). The following table irrevocably sets forth the designation, the
        Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal
        Balance and, for purposes of satisfying Treasury Regulation Section
        1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC I
        Regular Interests (as defined herein). None of the REMIC I Regular Interests
        will be certificated.

       

      
        	
                 

                Designation

              	
                Uncertificated
                  REMIC I 

                Pass-Through
                  Rate

              	
                Initial
                  Uncertificated Principal Balance

              	
                Latest
                  Possible Maturity Date (1)

              
	
                I-1-A

              	
                Variable(2)

              	
                $
                  1,530,581.01 

              	
                June
                  25, 2036

              
	
                I-1-B

              	
                Variable(2)

              	
                $
                  1,530,581.01 

              	
                June
                  25, 2036

              
	
                I-2-A

              	
                Variable(2)

              	
                $
                  1,841,115.86 

              	
                June
                  25, 2036

              
	
                I-2-B

              	
                Variable(2)

              	
                $
                  1,841,115.86 

              	
                June
                  25, 2036

              
	
                I-3-A

              	
                Variable(2)

              	
                $
                  2,147,468.70 

              	
                June
                  25, 2036

              
	
                I-3-B

              	
                Variable(2)

              	
                $
                  2,147,468.70 

              	
                June
                  25, 2036

              
	
                I-4-A

              	
                Variable(2)

              	
                $
                  2,446,753.46 

              	
                June
                  25, 2036

              
	
                I-4-B

              	
                Variable(2)

              	
                $
                  2,446,753.46 

              	
                June
                  25, 2036

              
	
                I-5-A

              	
                Variable(2)

              	
                $
                  2,734,643.79 

              	
                June
                  25, 2036

              
	
                I-5-B

              	
                Variable(2)

              	
                $
                  2,734,643.79 

              	
                June
                  25, 2036

              
	
                I-6-A

              	
                Variable(2)

              	
                $
                  3,009,726.56 

              	
                June
                  25, 2036

              
	
                I-6-B

              	
                Variable(2)

              	
                $
                  3,009,726.56 

              	
                June
                  25, 2036

              
	
                I-7-A

              	
                Variable(2)

              	
                $
                  3,260,519.90 

              	
                June
                  25, 2036

              
	
                I-7-B

              	
                Variable(2)

              	
                $
                  3,260,519.90 

              	
                June
                  25, 2036

              
	
                I-8-A

              	
                Variable(2)

              	
                $
                  3,429,601.74 

              	
                June
                  25, 2036

              
	
                I-8-B

              	
                Variable(2)

              	
                $
                  3,429,601.74 

              	
                June
                  25, 2036

              
	
                I-9-A

              	
                Variable(2)

              	
                $
                  3,561,164.33 

              	
                June
                  25, 2036

              
	
                I-9-B

              	
                Variable(2)

              	
                $
                  3,561,164.33 

              	
                June
                  25, 2036

              
	
                I-10-A

              	
                Variable(2)

              	
                $
                  3,444,871.79 

              	
                June
                  25, 2036

              
	
                I-10-B

              	
                Variable(2)

              	
                $
                  3,444,871.79 

              	
                June
                  25, 2036

              
	
                I-11-A

              	
                Variable(2)

              	
                $
                  3,290,095.88 

              	
                June
                  25, 2036

              
	
                I-11-B

              	
                Variable(2)

              	
                $
                  3,290,095.88 

              	
                June
                  25, 2036

              
	
                I-12-A

              	
                Variable(2)

              	
                $
                  3,140,231.78 

              	
                June
                  25, 2036

              
	
                I-12-B

              	
                Variable(2)

              	
                $
                  3,140,231.78 

              	
                June
                  25, 2036

              
	
                I-13-A

              	
                Variable(2)

              	
                $
                  2,997,261.62 

              	
                June
                  25, 2036

              
	
                I-13-B

              	
                Variable(2)

              	
                $
                  2,997,261.62 

              	
                June
                  25, 2036

              
	
                I-14-A

              	
                Variable(2)

              	
                $
                  2,860,866.14 

              	
                June
                  25, 2036

              
	
                I-14-B

              	
                Variable(2)

              	
                $
                  2,860,866.14 

              	
                June
                  25, 2036

              
	
                I-15-A

              	
                Variable(2)

              	
                $
                  2,730,740.89 

              	
                June
                  25, 2036

              
	
                I-15-B

              	
                Variable(2)

              	
                $
                  2,730,740.89 

              	
                June
                  25, 2036

              
	
                I-16-A

              	
                Variable(2)

              	
                $
                  2,606,595.61 

              	
                June
                  25, 2036

              
	
                I-16-B

              	
                Variable(2)

              	
                $
                  2,606,595.61 

              	
                June
                  25, 2036

              
	
                I-17-A

              	
                Variable(2)

              	
                $
                  2,488,108.61 

              	
                June
                  25, 2036

              
	
                I-17-B

              	
                Variable(2)

              	
                $
                  2,488,108.61 

              	
                June
                  25, 2036

              
	
                I-18-A

              	
                Variable(2)

              	
                $
                  2,375,109.93 

              	
                June
                  25, 2036

              
	
                I-18-B

              	
                Variable(2)

              	
                $
                  2,375,109.93 

              	
                June
                  25, 2036

              
	
                I-19-A

              	
                Variable(2)

              	
                $
                  2,267,298.64 

              	
                June
                  25, 2036

              
	
                I-19-B

              	
                Variable(2)

              	
                $
                  2,267,298.64 

              	
                June
                  25, 2036

              
	
                I-20-A

              	
                Variable(2)

              	
                $
                  2,164,483.95 

              	
                June
                  25, 2036

              
	
                I-20-B

              	
                Variable(2)

              	
                $
                  2,164,483.95 

              	
                June
                  25, 2036

              
	
                I-21-A

              	
                Variable(2)

              	
                $
                  2,066,525.76 

              	
                June
                  25, 2036

              
	
                I-21-B

              	
                Variable(2)

              	
                $
                  2,066,525.76 

              	
                June
                  25, 2036

              
	
                I-22-A

              	
                Variable(2)

              	
                $
                  1,968,300.18 

              	
                June
                  25, 2036

              
	
                I-22-B

              	
                Variable(2)

              	
                $
                  1,968,300.18 

              	
                June
                  25, 2036

              
	
                I-23-A

              	
                Variable(2)

              	
                $
                  1,878,833.64 

              	
                June
                  25, 2036

              
	
                I-23-B

              	
                Variable(2)

              	
                $
                  1,878,833.64 

              	
                June
                  25, 2036

              
	
                I-24-A

              	
                Variable(2)

              	
                $
                  1,793,985.83 

              	
                June
                  25, 2036

              
	
                I-24-B

              	
                Variable(2)

              	
                $
                  1,793,985.83 

              	
                June
                  25, 2036

              
	
                I-25-A

              	
                Variable(2)

              	
                $
                  1,713,015.34 

              	
                June
                  25, 2036

              
	
                I-25-B

              	
                Variable(2)

              	
                $
                  1,713,015.34 

              	
                June
                  25, 2036

              
	
                I-26-A

              	
                Variable(2)

              	
                $
                  1,635,736.84 

              	
                June
                  25, 2036

              
	
                I-26-B

              	
                Variable(2)

              	
                $
                  1,635,736.84 

              	
                June
                  25, 2036

              
	
                I-27-A

              	
                Variable(2)

              	
                $
                  1,561,957.34 

              	
                June
                  25, 2036

              
	
                I-27-B

              	
                Variable(2)

              	
                $
                  1,561,957.34 

              	
                June
                  25, 2036

              
	
                I-28-A

              	
                Variable(2)

              	
                $
                  1,491,319.38 

              	
                June
                  25, 2036

              
	
                I-28-B

              	
                Variable(2)

              	
                $
                  1,491,319.38 

              	
                June
                  25, 2036

              
	
                I-29-A

              	
                Variable(2)

              	
                $
                  1,424,123.05 

              	
                June
                  25, 2036

              
	
                I-29-B

              	
                Variable(2)

              	
                $
                  1,424,123.05 

              	
                June
                  25, 2036

              
	
                I-30-A

              	
                Variable(2)

              	
                $
                  1,360,049.40 

              	
                June
                  25, 2036

              
	
                I-30-B

              	
                Variable(2)

              	
                $
                  1,360,049.40 

              	
                June
                  25, 2036

              
	
                I-31-A

              	
                Variable(2)

              	
                $
                  1,298,910.77 

              	
                June
                  25, 2036

              
	
                I-31-B

              	
                Variable(2)

              	
                $
                  1,298,910.77 

              	
                June
                  25, 2036

              
	
                I-32-A

              	
                Variable(2)

              	
                $
                  1,240,527.57 

              	
                June
                  25, 2036

              
	
                I-32-B

              	
                Variable(2)

              	
                $
                  1,240,527.57 

              	
                June
                  25, 2036

              
	
                I-33-A

              	
                Variable(2)

              	
                $
                  1,184,782.91 

              	
                June
                  25, 2036

              
	
                I-33-B

              	
                Variable(2)

              	
                $
                  1,184,782.91 

              	
                June
                  25, 2036

              
	
                I-34-A

              	
                Variable(2)

              	
                $
                  1,131,179.01 

              	
                June
                  25, 2036

              
	
                I-34-B

              	
                Variable(2)

              	
                $
                  1,131,179.01 

              	
                June
                  25, 2036

              
	
                I-35-A

              	
                Variable(2)

              	
                $
                  1,080,458.85 

              	
                June
                  25, 2036

              
	
                I-35-B

              	
                Variable(2)

              	
                $
                  1,080,458.85 

              	
                June
                  25, 2036

              
	
                I-36-A

              	
                Variable(2)

              	
                $
                  1,032,051.05 

              	
                June
                  25, 2036

              
	
                I-36-B

              	
                Variable(2)

              	
                $
                  1,032,051.05 

              	
                June
                  25, 2036

              
	
                I-37-A

              	
                Variable(2)

              	
                $
                  985,839.55 

              	
                June
                  25, 2036

              
	
                I-37-B

              	
                Variable(2)

              	
                $
                  985,839.55 

              	
                June
                  25, 2036

              
	
                I-38-A

              	
                Variable(2)

              	
                $
                  941,727.37 

              	
                June
                  25, 2036

              
	
                I-38-B

              	
                Variable(2)

              	
                $
                  941,727.37 

              	
                June
                  25, 2036

              
	
                I-39-A

              	
                Variable(2)

              	
                $
                  899,617.42 

              	
                June
                  25, 2036

              
	
                I-39-B

              	
                Variable(2)

              	
                $
                  899,617.42 

              	
                June
                  25, 2036

              
	
                I-40-A

              	
                Variable(2)

              	
                $
                  859,327.79 

              	
                June
                  25, 2036

              
	
                I-40-B

              	
                Variable(2)

              	
                $
                  859,327.79 

              	
                June
                  25, 2036

              
	
                I-41-A

              	
                Variable(2)

              	
                $
                  820,953.91 

              	
                June
                  25, 2036

              
	
                I-41-B

              	
                Variable(2)

              	
                $
                  820,953.91 

              	
                June
                  25, 2036

              
	
                I-42-A

              	
                Variable(2)

              	
                $
                  784,326.41 

              	
                June
                  25, 2036

              
	
                I-42-B

              	
                Variable(2)

              	
                $
                  784,326.41 

              	
                June
                  25, 2036

              
	
                I-43-A

              	
                Variable(2)

              	
                $
                  749,357.17 

              	
                June
                  25, 2036

              
	
                I-43-B

              	
                Variable(2)

              	
                $
                  749,357.17 

              	
                June
                  25, 2036

              
	
                I-44-A

              	
                Variable(2)

              	
                $
                  715,970.13 

              	
                June
                  25, 2036

              
	
                I-44-B

              	
                Variable(2)

              	
                $
                  715,970.13 

              	
                June
                  25, 2036

              
	
                I-45-A

              	
                Variable(2)

              	
                $
                  684,095.06 

              	
                June
                  25, 2036

              
	
                I-45-B

              	
                Variable(2)

              	
                $
                  684,095.06 

              	
                June
                  25, 2036

              
	
                I-46-A

              	
                Variable(2)

              	
                $
                  653,657.29 

              	
                June
                  25, 2036

              
	
                I-46-B

              	
                Variable(2)

              	
                $
                  653,657.29 

              	
                June
                  25, 2036

              
	
                I-47-A

              	
                Variable(2)

              	
                $
                  624,599.35 

              	
                June
                  25, 2036

              
	
                I-47-B

              	
                Variable(2)

              	
                $
                  624,599.35 

              	
                June
                  25, 2036

              
	
                I-48-A

              	
                Variable(2)

              	
                $
                  10,598,605.27 

              	
                June
                  25, 2036

              
	
                I-48-B

              	
                Variable(2)

              	
                $
                  10,598,605.27 

              	
                June
                  25, 2036

              
	
                I-49-A

              	
                Variable(2)

              	
                $
                  98,787.49 

              	
                June
                  25, 2036

              
	
                I-49-B

              	
                Variable(2)

              	
                $
                  98,787.49 

              	
                June
                  25, 2036

              
	
                I-50-A

              	
                Variable(2)

              	
                $
                  95,693.25 

              	
                June
                  25, 2036

              
	
                I-50-B

              	
                Variable(2)

              	
                $
                  95,693.25 

              	
                June
                  25, 2036

              
	
                I-51-A

              	
                Variable(2)

              	
                $
                  92,695.52 

              	
                June
                  25, 2036

              
	
                I-51-B

              	
                Variable(2)

              	
                $
                  92,695.52 

              	
                June
                  25, 2036

              
	
                I-52-A

              	
                Variable(2)

              	
                $
                  89,791.29 

              	
                June
                  25, 2036

              
	
                I-52-B

              	
                Variable(2)

              	
                $
                  89,791.29 

              	
                June
                  25, 2036

              
	
                I-53-A

              	
                Variable(2)

              	
                $
                  86,977.66 

              	
                June
                  25, 2036

              
	
                I-53-B

              	
                Variable(2)

              	
                $
                  86,977.66 

              	
                June
                  25, 2036

              
	
                I-54-A

              	
                Variable(2)

              	
                $
                  84,251.81 

              	
                June
                  25, 2036

              
	
                I-54-B

              	
                Variable(2)

              	
                $
                  84,251.81 

              	
                June
                  25, 2036

              
	
                I-55-A

              	
                Variable(2)

              	
                $
                  82,386.08 

              	
                June
                  25, 2036

              
	
                I-55-B

              	
                Variable(2)

              	
                $
                  82,386.08 

              	
                June
                  25, 2036

              
	
                I-56-A

              	
                Variable(2)

              	
                $
                  79,815.34 

              	
                June
                  25, 2036

              
	
                I-56-B

              	
                Variable(2)

              	
                $
                  79,815.34 

              	
                June
                  25, 2036

              
	
                I-57-A

              	
                Variable(2)

              	
                $
                  77,293.44 

              	
                June
                  25, 2036

              
	
                I-57-B

              	
                Variable(2)

              	
                $
                  77,293.44 

              	
                June
                  25, 2036

              
	
                I-58-A

              	
                Variable(2)

              	
                $
                  74,855.81 

              	
                June
                  25, 2036

              
	
                I-58-B

              	
                Variable(2)

              	
                $
                  74,855.81 

              	
                June
                  25, 2036

              
	
                I-59-A

              	
                Variable(2)

              	
                $
                  72,489.57 

              	
                June
                  25, 2036

              
	
                I-59-B

              	
                Variable(2)

              	
                $
                  72,489.57 

              	
                June
                  25, 2036

              
	
                I-60-A

              	
                Variable(2)

              	
                $
                  2,200,841.58 

              	
                June
                  25, 2036

              
	
                I-60-B

              	
                Variable(2)

              	
                $
                  2,200,841.58 

              	
                June
                  25, 2036

              
	
                II-1-A

              	
                Variable(2)

              	
                $
                  1,599,999.29 

              	
                June
                  25, 2036

              
	
                II-1-B

              	
                Variable(2)

              	
                $
                  1,599,999.29 

              	
                June
                  25, 2036

              
	
                II-2-A

              	
                Variable(2)

              	
                $
                  1,924,618.20 

              	
                June
                  25, 2036

              
	
                II-2-B

              	
                Variable(2)

              	
                $
                  1,924,618.20 

              	
                June
                  25, 2036

              
	
                II-3-A

              	
                Variable(2)

              	
                $
                  2,244,865.42 

              	
                June
                  25, 2036

              
	
                II-3-B

              	
                Variable(2)

              	
                $
                  2,244,865.42 

              	
                June
                  25, 2036

              
	
                II-4-A

              	
                Variable(2)

              	
                $
                  2,557,724.00 

              	
                June
                  25, 2036

              
	
                II-4-B

              	
                Variable(2)

              	
                $
                  2,557,724.00 

              	
                June
                  25, 2036

              
	
                II-5-A

              	
                Variable(2)

              	
                $
                  2,858,671.37 

              	
                June
                  25, 2036

              
	
                II-5-B

              	
                Variable(2)

              	
                $
                  2,858,671.37 

              	
                June
                  25, 2036

              
	
                II-6-A

              	
                Variable(2)

              	
                $
                  3,146,230.29 

              	
                June
                  25, 2036

              
	
                II-6-B

              	
                Variable(2)

              	
                $
                  3,146,230.29 

              	
                June
                  25, 2036

              
	
                II-7-A

              	
                Variable(2)

              	
                $
                  3,408,398.17 

              	
                June
                  25, 2036

              
	
                II-7-B

              	
                Variable(2)

              	
                $
                  3,408,398.17 

              	
                June
                  25, 2036

              
	
                II-8-A

              	
                Variable(2)

              	
                $
                  3,585,148.58 

              	
                June
                  25, 2036

              
	
                II-8-B

              	
                Variable(2)

              	
                $
                  3,585,148.58 

              	
                June
                  25, 2036

              
	
                II-9-A

              	
                Variable(2)

              	
                $
                  3,722,678.09 

              	
                June
                  25, 2036

              
	
                II-9-B

              	
                Variable(2)

              	
                $
                  3,722,678.09 

              	
                June
                  25, 2036

              
	
                II-10-A

              	
                Variable(2)

              	
                $
                  3,601,111.19 

              	
                June
                  25, 2036

              
	
                II-10-B

              	
                Variable(2)

              	
                $
                  3,601,111.19 

              	
                June
                  25, 2036

              
	
                II-11-A

              	
                Variable(2)

              	
                $
                  3,439,315.54 

              	
                June
                  25, 2036

              
	
                II-11-B

              	
                Variable(2)

              	
                $
                  3,439,315.54 

              	
                June
                  25, 2036

              
	
                II-12-A

              	
                Variable(2)

              	
                $
                  3,282,654.47 

              	
                June
                  25, 2036

              
	
                II-12-B

              	
                Variable(2)

              	
                $
                  3,282,654.47 

              	
                June
                  25, 2036

              
	
                II-13-A

              	
                Variable(2)

              	
                $
                  3,133,200.02 

              	
                June
                  25, 2036

              
	
                II-13-B

              	
                Variable(2)

              	
                $
                  3,133,200.02 

              	
                June
                  25, 2036

              
	
                II-14-A

              	
                Variable(2)

              	
                $
                  2,990,618.44 

              	
                June
                  25, 2036

              
	
                II-14-B

              	
                Variable(2)

              	
                $
                  2,990,618.44 

              	
                June
                  25, 2036

              
	
                II-15-A

              	
                Variable(2)

              	
                $
                  2,854,591.46 

              	
                June
                  25, 2036

              
	
                II-15-B

              	
                Variable(2)

              	
                $
                  2,854,591.46 

              	
                June
                  25, 2036

              
	
                II-16-A

              	
                Variable(2)

              	
                $
                  2,724,815.67 

              	
                June
                  25, 2036

              
	
                II-16-B

              	
                Variable(2)

              	
                $
                  2,724,815.67 

              	
                June
                  25, 2036

              
	
                II-17-A

              	
                Variable(2)

              	
                $
                  2,600,954.78 

              	
                June
                  25, 2036

              
	
                II-17-B

              	
                Variable(2)

              	
                $
                  2,600,954.78 

              	
                June
                  25, 2036

              
	
                II-18-A

              	
                Variable(2)

              	
                $
                  2,482,831.14 

              	
                June
                  25, 2036

              
	
                II-18-B

              	
                Variable(2)

              	
                $
                  2,482,831.14 

              	
                June
                  25, 2036

              
	
                II-19-A

              	
                Variable(2)

              	
                $
                  2,370,130.15 

              	
                June
                  25, 2036

              
	
                II-19-B

              	
                Variable(2)

              	
                $
                  2,370,130.15 

              	
                June
                  25, 2036

              
	
                II-20-A

              	
                Variable(2)

              	
                $
                  2,262,652.39 

              	
                June
                  25, 2036

              
	
                II-20-B

              	
                Variable(2)

              	
                $
                  2,262,652.39 

              	
                June
                  25, 2036

              
	
                II-21-A

              	
                Variable(2)

              	
                $
                  2,160,251.38 

              	
                June
                  25, 2036

              
	
                II-21-B

              	
                Variable(2)

              	
                $
                  2,160,251.38 

              	
                June
                  25, 2036

              
	
                II-22-A

              	
                Variable(2)

              	
                $
                  2,057,570.86 

              	
                June
                  25, 2036

              
	
                II-22-B

              	
                Variable(2)

              	
                $
                  2,057,570.86 

              	
                June
                  25, 2036

              
	
                II-23-A

              	
                Variable(2)

              	
                $
                  1,964,046.64 

              	
                June
                  25, 2036

              
	
                II-23-B

              	
                Variable(2)

              	
                $
                  1,964,046.64 

              	
                June
                  25, 2036

              
	
                II-24-A

              	
                Variable(2)

              	
                $
                  1,875,350.62 

              	
                June
                  25, 2036

              
	
                II-24-B

              	
                Variable(2)

              	
                $
                  1,875,350.62 

              	
                June
                  25, 2036

              
	
                II-25-A

              	
                Variable(2)

              	
                $
                  1,790,707.78 

              	
                June
                  25, 2036

              
	
                II-25-B

              	
                Variable(2)

              	
                $
                  1,790,707.78 

              	
                June
                  25, 2036

              
	
                II-26-A

              	
                Variable(2)

              	
                $
                  1,709,924.37 

              	
                June
                  25, 2036

              
	
                II-26-B

              	
                Variable(2)

              	
                $
                  1,709,924.37 

              	
                June
                  25, 2036

              
	
                II-27-A

              	
                Variable(2)

              	
                $
                  1,632,798.66 

              	
                June
                  25, 2036

              
	
                II-27-B

              	
                Variable(2)

              	
                $
                  1,632,798.66 

              	
                June
                  25, 2036

              
	
                II-28-A

              	
                Variable(2)

              	
                $
                  1,558,956.98 

              	
                June
                  25, 2036

              
	
                II-28-B

              	
                Variable(2)

              	
                $
                  1,558,956.98 

              	
                June
                  25, 2036

              
	
                II-29-A

              	
                Variable(2)

              	
                $
                  1,488,713.01 

              	
                June
                  25, 2036

              
	
                II-29-B

              	
                Variable(2)

              	
                $
                  1,488,713.01 

              	
                June
                  25, 2036

              
	
                II-30-A

              	
                Variable(2)

              	
                $
                  1,421,733.35 

              	
                June
                  25, 2036

              
	
                II-30-B

              	
                Variable(2)

              	
                $
                  1,421,733.35 

              	
                June
                  25, 2036

              
	
                II-31-A

              	
                Variable(2)

              	
                $
                  1,357,821.83 

              	
                June
                  25, 2036

              
	
                II-31-B

              	
                Variable(2)

              	
                $
                  1,357,821.83 

              	
                June
                  25, 2036

              
	
                II-32-A

              	
                Variable(2)

              	
                $
                  1,296,790.70 

              	
                June
                  25, 2036

              
	
                II-32-B

              	
                Variable(2)

              	
                $
                  1,296,790.70 

              	
                June
                  25, 2036

              
	
                II-33-A

              	
                Variable(2)

              	
                $
                  1,238,517.79 

              	
                June
                  25, 2036

              
	
                II-33-B

              	
                Variable(2)

              	
                $
                  1,238,517.79 

              	
                June
                  25, 2036

              
	
                II-34-A

              	
                Variable(2)

              	
                $
                  1,182,482.73 

              	
                June
                  25, 2036

              
	
                II-34-B

              	
                Variable(2)

              	
                $
                  1,182,482.73 

              	
                June
                  25, 2036

              
	
                II-35-A

              	
                Variable(2)

              	
                $
                  1,129,462.20 

              	
                June
                  25, 2036

              
	
                II-35-B

              	
                Variable(2)

              	
                $
                  1,129,462.20 

              	
                June
                  25, 2036

              
	
                II-36-A

              	
                Variable(2)

              	
                $
                  1,078,858.90 

              	
                June
                  25, 2036

              
	
                II-36-B

              	
                Variable(2)

              	
                $
                  1,078,858.90 

              	
                June
                  25, 2036

              
	
                II-37-A

              	
                Variable(2)

              	
                $
                  1,030,551.51 

              	
                June
                  25, 2036

              
	
                II-37-B

              	
                Variable(2)

              	
                $
                  1,030,551.51 

              	
                June
                  25, 2036

              
	
                II-38-A

              	
                Variable(2)

              	
                $
                  984,438.66 

              	
                June
                  25, 2036

              
	
                II-38-B

              	
                Variable(2)

              	
                $
                  984,438.66 

              	
                June
                  25, 2036

              
	
                II-39-A

              	
                Variable(2)

              	
                $
                  940,418.85 

              	
                June
                  25, 2036

              
	
                II-39-B

              	
                Variable(2)

              	
                $
                  940,418.85 

              	
                June
                  25, 2036

              
	
                II-40-A

              	
                Variable(2)

              	
                $
                  898,301.92 

              	
                June
                  25, 2036

              
	
                II-40-B

              	
                Variable(2)

              	
                $
                  898,301.92 

              	
                June
                  25, 2036

              
	
                II-41-A

              	
                Variable(2)

              	
                $
                  858,187.62 

              	
                June
                  25, 2036

              
	
                II-41-B

              	
                Variable(2)

              	
                $
                  858,187.62 

              	
                June
                  25, 2036

              
	
                II-42-A

              	
                Variable(2)

              	
                $
                  819,898.90 

              	
                June
                  25, 2036

              
	
                II-42-B

              	
                Variable(2)

              	
                $
                  819,898.90 

              	
                June
                  25, 2036

              
	
                II-43-A

              	
                Variable(2)

              	
                $
                  783,343.66 

              	
                June
                  25, 2036

              
	
                II-43-B

              	
                Variable(2)

              	
                $
                  783,343.66 

              	
                June
                  25, 2036

              
	
                II-44-A

              	
                Variable(2)

              	
                $
                  748,442.38 

              	
                June
                  25, 2036

              
	
                II-44-B

              	
                Variable(2)

              	
                $
                  748,442.38 

              	
                June
                  25, 2036

              
	
                II-45-A

              	
                Variable(2)

              	
                $
                  715,121.64 

              	
                June
                  25, 2036

              
	
                II-45-B

              	
                Variable(2)

              	
                $
                  715,121.64 

              	
                June
                  25, 2036

              
	
                II-46-A

              	
                Variable(2)

              	
                $
                  683,303.40 

              	
                June
                  25, 2036

              
	
                II-46-B

              	
                Variable(2)

              	
                $
                  683,303.40 

              	
                June
                  25, 2036

              
	
                II-47-A

              	
                Variable(2)

              	
                $
                  652,927.56 

              	
                June
                  25, 2036

              
	
                II-47-B

              	
                Variable(2)

              	
                $
                  652,927.56 

              	
                June
                  25, 2036

              
	
                II-48-A

              	
                Variable(2)

              	
                $
                  11,079,296.53 

              	
                June
                  25, 2036

              
	
                II-48-B

              	
                Variable(2)

              	
                $
                  11,079,296.53 

              	
                June
                  25, 2036

              
	
                II-49-A

              	
                Variable(2)

              	
                $
                  103,267.91 

              	
                June
                  25, 2036

              
	
                II-49-B

              	
                Variable(2)

              	
                $
                  103,267.91 

              	
                June
                  25, 2036

              
	
                II-50-A

              	
                Variable(2)

              	
                $
                  100,033.34 

              	
                June
                  25, 2036

              
	
                II-50-B

              	
                Variable(2)

              	
                $
                  100,033.34 

              	
                June
                  25, 2036

              
	
                II-51-A

              	
                Variable(2)

              	
                $
                  96,899.65 

              	
                June
                  25, 2036

              
	
                II-51-B

              	
                Variable(2)

              	
                $
                  96,899.65 

              	
                June
                  25, 2036

              
	
                II-52-A

              	
                Variable(2)

              	
                $
                  93,863.70 

              	
                June
                  25, 2036

              
	
                II-52-B

              	
                Variable(2)

              	
                $
                  93,863.70 

              	
                June
                  25, 2036

              
	
                II-53-A

              	
                Variable(2)

              	
                $
                  90,922.47 

              	
                June
                  25, 2036

              
	
                II-53-B

              	
                Variable(2)

              	
                $
                  90,922.47 

              	
                June
                  25, 2036

              
	
                II-54-A

              	
                Variable(2)

              	
                $
                  88,072.99 

              	
                June
                  25, 2036

              
	
                II-54-B

              	
                Variable(2)

              	
                $
                  88,072.99 

              	
                June
                  25, 2036

              
	
                II-55-A

              	
                Variable(2)

              	
                $
                  86,122.63 

              	
                June
                  25, 2036

              
	
                II-55-B

              	
                Variable(2)

              	
                $
                  86,122.63 

              	
                June
                  25, 2036

              
	
                II-56-A

              	
                Variable(2)

              	
                $
                  83,435.30 

              	
                June
                  25, 2036

              
	
                II-56-B

              	
                Variable(2)

              	
                $
                  83,435.30 

              	
                June
                  25, 2036

              
	
                II-57-A

              	
                Variable(2)

              	
                $
                  80,799.02 

              	
                June
                  25, 2036

              
	
                II-57-B

              	
                Variable(2)

              	
                $
                  80,799.02 

              	
                June
                  25, 2036

              
	
                II-58-A

              	
                Variable(2)

              	
                $
                  78,250.83 

              	
                June
                  25, 2036

              
	
                II-58-B

              	
                Variable(2)

              	
                $
                  78,250.83 

              	
                June
                  25, 2036

              
	
                II-59-A

              	
                Variable(2)

              	
                $
                  75,777.27 

              	
                June
                  25, 2036

              
	
                II-59-B

              	
                Variable(2)

              	
                $
                  75,777.27 

              	
                June
                  25, 2036

              
	
                II-60-A

              	
                Variable(2)

              	
                $
                  2,300,658.99 

              	
                June
                  25, 2036

              
	
                II-60-B

              	
                Variable(2)

              	
                $
                  2,300,658.99 

              	
                June
                  25, 2036

              
	
                P

              	
                0.00%

              	
                $
                  100.00 

              	
                June
                  25, 2036

              

      

      

      ___________________________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date immediately following the maturity date for the
                  Mortgage
                  Loan with the latest maturity date has been designated as the “latest
                  possible maturity date” for each REMIC I Regular
                  Interest.

              

        	(2) 	Calculated in accordance with the definition of
                “Uncertificated REMIC I Pass-Through Rate”
herein.

      

      
 

      

      REMIC
        II

       

      As
        provided herein, the Trustee will elect to treat the segregated pool of assets
        consisting of the REMIC I Regular Interests as a REMIC for federal income
        tax
        purposes, and such segregated pool of assets will be designated as “REMIC II”.
        The Class R-2 Certificates will be the sole class of Residual Interests in
        REMIC
        II for purposes of the REMIC Provisions. The following table irrevocably
        sets
        forth the designation, the Uncertificated REMIC II Pass-Through Rate, the
        initial Uncertificated Principal Balance and, for purposes of satisfying
        Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity
        date” for each of the REMIC II Regular Interests (as defined herein). None of
        the REMIC II Regular Interests will be certificated.

       

      
        	
                 

                Designation

              	
                Uncertificated
                  REMIC II Pass-Through Rate

              	
                Initial
                  Uncertificated Principal Balance

              	
                Latest
                  Possible Maturity Date (1)

              
	
                AA

              	
                Variable(2)

              	
                $
                  201,733,476.15 

              	
                June
                  25, 2036

              
	
                I-A-1

              	
                Variable(2)

              	
                $
                  506,920.00 

              	
                June
                  25, 2036

              
	
                I-A-2

              	
                Variable(2)

              	
                $
                  214,310.00 

              	
                June
                  25, 2036

              
	
                I-A-3

              	
                Variable(2)

              	
                $
                  53,720.00 

              	
                June
                  25, 2036

              
	
                II-A

              	
                Variable(2)

              	
                $
                  810,100.00 

              	
                June
                  25, 2036

              
	
                M-1

              	
                Variable(2)

              	
                $
                  84,400.00 

              	
                June
                  25, 2036

              
	
                M-2

              	
                Variable(2)

              	
                $
                  75,135.00 

              	
                June
                  25, 2036

              
	
                M-3

              	
                Variable(2)

              	
                $
                  46,315.00 

              	
                June
                  25, 2036

              
	
                M-4

              	
                Variable(2)

              	
                $
                  39,110.00 

              	
                June
                  25, 2036

              
	
                M-5

              	
                Variable(2)

              	
                $
                  37,055.00 

              	
                June
                  25, 2036

              
	
                M-6

              	
                Variable(2)

              	
                $
                  32,935.00 

              	
                June
                  25, 2036

              
	
                M-7

              	
                Variable(2)

              	
                $
                  31,905.00 

              	
                June
                  25, 2036

              
	
                M-8

              	
                Variable(2)

              	
                $
                  29,850.00 

              	
                June
                  25, 2036

              
	
                M-9

              	
                Variable(2)

              	
                $
                  21,615.00 

              	
                June
                  25, 2036

              
	
                M-10

              	
                Variable(2)

              	
                $
                  18,525.00 

              	
                June
                  25, 2036

              
	
                M-11

              	
                Variable(2)

              	
                $
                  19,555.00 

              	
                June
                  25, 2036

              
	
                ZZ

              	
                Variable(2)

              	
                $
                  2,095,559.72 

              	
                June
                  25, 2036

              
	
                IO

              	
                (2)

              	
                (3)

              	
                June
                  25, 2036

              
	
                P

              	
                0.00%

              	
                $
                  100.00 

              	
                June
                  25, 2036

              
	
                1-Sub

              	
                Variable(2)

              	
                $
                  4,629.59 

              	
                June
                  25, 2036

              
	
                1-Grp

              	
                Variable(2)

              	
                $
                  20,128.59 

              	
                June
                  25, 2036

              
	
                2-Sub

              	
                Variable(2)

              	
                $
                  4,839.51 

              	
                June
                  25, 2036

              
	
                2-Grp

              	
                Variable(2)

              	
                $
                  21,041.51 

              	
                June
                  25, 2036

              
	
                XX

              	
                Variable(2)

              	
                $
                  205,799,846.68 

              	
                June
                  25, 2036

              

      

      ___________________________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date immediately following the maturity date for the
                  Mortgage
                  Loan with the latest maturity date has been designated as the “latest
                  possible maturity date” for each REMIC II Regular
                  Interest.

              

      

      
        	
                (2)

              	
                Calculated
                  in accordance with the definition of “Uncertificated REMIC II Pass-Through
                  Rate” herein.

              

      

      
        	
                (3)

              	
                REMIC
                  II Regular Interest IO will not have an Uncertificated Principal
                  Balance
                  but will accrue interest on its uncertificated notional amount
                  calculated
                  in accordance with the definition of “Uncertificated Notional Amount”
                  herein.

              

      

      

       

      REMIC
        III

       

      As
        provided herein, the Trustee will elect to treat the segregated pool of assets
        consisting of the REMIC II Regular Interests as a REMIC for federal income
        tax
        purposes, and such segregated pool of assets will be designated as “REMIC III”.
        The Class R-3 Certificates will represent the sole class of Residual Interests
        in REMIC III for purposes of the REMIC Provisions.

       

      The
        following table irrevocably sets forth the designation, Pass-Through Rate,
        Initial Certificate Principal Balance (or initial Uncertificated Principal
        Balance, in the case of the Class CE, P and IO Interests) and, for purposes
        of
        satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible
        maturity date” for each class of Certificates and interests that represents
        ownership of one or more of the Regular Interests in REMIC III created
        hereunder.

       

      Each
        Certificate, other than the Class P, Class CE and Class R Certificates,
        represents ownership of a Regular Interest in REMIC III and also represents
        (i)
        the right to receive certain amounts specified herein in respect of Basis
        Risk
        Shortfall Carry Forward Amounts (as defined herein) and (ii) the obligation
        to
        pay Class IO Distribution Amounts (as defined herein). The entitlement to
        principal of the Regular Interest which corresponds to each Certificate shall
        be
        equal in amount and timing to the entitlement to principal of such Certificate.
        Each Class CE Certificate represents ownership of a Regular Interest in REMIC
        III and also represents (i) the obligation to pay certain amounts specified
        herein in respect of Basis Risk Shortfall Carry Forward Amounts and (ii)
        the
        right to receive Class IO Distribution Amounts.

       

      
        	
                Designation

              	
                Pass-Through
                  Rate

              	
                Initial
                  Certificate or Uncertificated

                Principal
                  Balance

              	
                Latest
                  Possible Maturity Date(1)

              
	
                I-A-1(2)

              	
                Variable(3)

              	
                $101,384,000.00

              	
                June
                  25, 2036

              
	
                I-A-2(2)

              	
                Variable(3)

              	
                $42,862,000.00

              	
                June
                  25, 2036

              
	
                I-A-3(2)

              	
                Variable(3)

              	
                $10,744,000.00

              	
                June
                  25, 2036

              
	
                II-A(2)

              	
                Variable(3)

              	
                $162,020,000.00

              	
                June
                  25, 2036

              
	
                M-1(2)

              	
                Variable(3)

              	
                $16,880,000.00

              	
                June
                  25, 2036

              
	
                M-2(2)

              	
                Variable(3)

              	
                $15,027,000.00

              	
                June
                  25, 2036

              
	
                M-3(2)

              	
                Variable(3)

              	
                $9,263,000.00

              	
                June
                  25, 2036

              
	
                M-4(2)

              	
                Variable(3)

              	
                $7,822,000.00

              	
                June
                  25, 2036

              
	
                M-5(2)

              	
                Variable(3)

              	
                $7,411,000.00

              	
                June
                  25, 2036

              
	
                M-6(2)

              	
                Variable(3)

              	
                $6,587,000.00

              	
                June
                  25, 2036

              
	
                M-7(2)

              	
                Variable(3)

              	
                $6,381,000.00

              	
                June
                  25, 2036

              
	
                M-8(2)

              	
                Variable(3)

              	
                $5,970,000.00

              	
                June
                  25, 2036

              
	
                M-9(2)

              	
                Variable(3)

              	
                $4,323,000.00

              	
                June
                  25, 2036

              
	
                M-10(2)

              	
                Variable(3)

              	
                $3,705,000.00

              	
                June
                  25, 2036

              
	
                M-11(2)

              	
                Variable(3)

              	
                $3,911,000.00

              	
                June
                  25, 2036

              
	
                Class
                  CE Interest

              	
                Variable(3)(4)

              	
                $7,410,971.74

              	
                June
                  25, 2036

              
	
                Class
                  P Interest

              	
                0.00%(5)

              	
                $100.00

              	
                June
                  25, 2036

              
	
                Class
                  IO Interest

              	
                (6)

              	
                (7)

              	
                June
                  25, 2036

              

      

      ___________________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date in the month following the maturity date for
                  the
                  Mortgage Loan with the latest maturity date has been designated
                  as the
                  “latest possible maturity date” for each REMIC III Regular
                  Interest.

              

      

      
        	
                (2)

              	
                This
                  Class of Certificates represents ownership of a Regular Interest
                  in REMIC
                  III. Any amount distributed on this Class of Certificates on any
                  Distribution Date in excess of the amount distributable on the
                  related
                  Regular Interest in REMIC III on such Distribution Date shall be
                  treated
                  for federal income tax purposes as having been paid from the Reserve
                  Fund
                  or the Supplemental Interest Trust, as applicable, and any amount
                  distributable on the related Regular Interest in REMIC III on such
                  Distribution Date in excess of the amount distributable on such
                  Class of
                  Certificates on such Distribution Date shall be treated for such
                  purposes
                  as having been distributed to the Holders of such Certificates
                  and then
                  paid by such Holders to the Supplemental Interest Trust, all pursuant
                  to
                  and as further provided in Section 3.21
                  hereof.

              

      

      
        	
                (3)

              	
                Calculated
                  in accordance with the definition of “Pass-Through Rate” herein. Each
                  Regular Interest in REMIC III which corresponds to a Class A Certificate
                  or Class M Certificate will have the same Pass-Through Rate as
                  such
                  Certificate, except with respect to the Net Rate Cap. The Net Rate
                  Cap for
                  each such Regular Interest in REMIC III and Certificate is specified
                  in
                  the definition of “Net Rate Cap”.

              

      

      
        	
                (4)

              	
                The
                  Class CE Interest will accrue interest at its variable Pass-Through
                  Rate
                  on the Uncertificated Notional Amount of the Class CE Interest
                  outstanding
                  from time to time which shall equal the aggregate Uncertificated
                  Principal
                  Balance of the REMIC II Regular Interests (other than REMIC II
                  Regular
                  Interest P). The Class CE Interest will not accrue interest on
                  its
                  Uncertificated Principal Balance.

              

      

      
        	
                (5)

              	
                The
                  Class P Interest is not entitled to distributions in respect of
                  interest.

              

      

      
        	
                (6)

              	
                For
                  federal income tax purposes, the Class IO Interest will not have
                  a
                  Pass-Through Rate, but will be entitled to 100% of the amounts
                  distributed
                  on REMIC II Regular Interest IO.

              

      

      
        	
                (7)

              	
                For
                  federal income tax purposes, the Class IO Interest will not have
                  an
                  Uncertificated Principal Balance, but will have a notional amount
                  equal to
                  the Uncertificated Notional Amount of REMIC II Regular Interest
                  IO.

              

      

       

      REMIC
        IV

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the Class CE Interest as a REMIC for federal income tax purposes,
        and such segregated pool of assets will be designated as “REMIC IV”. The Class
        R-4 Interest represents the sole class of Residual Interests in REMIC IV
        for
        purposes of the REMIC Provisions.

       

      The
        following table sets forth the Class designation, Pass-Through Rate, Initial
        Certificate Principal Balance and, for purposes of satisfying Treasury
        Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for
        the indicated Class of Certificates that represents a Regular Interest in
        REMIC
        IV created hereunder:

       

      
        	
                Class
                  Designation

              	
                Pass-Through
                  Rate

              	
                Initial
                  Certificate Principal Balance

              	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                CE

              	
                Variable(2)

              	
                $7,410,971.74

              	
                June
                  25, 2036

              

      

      _______________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date immediately following the maturity date for the
                  Mortgage
                  Loan with the latest maturity date has been designated as the “latest
                  possible maturity date” for the Class CE
                  Certificates.

              

      

      
        	
                (2)

              	
                The
                  Class CE Certificates will receive 100% of the amounts received
                  in respect
                  of the Class CE Interest.

              

      

       

      REMIC
        V

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the Class P Interest as a REMIC for federal income tax purposes,
        and such segregated pool of assets will be designated as “REMIC V”. The Class
        R-5 Interest represents the sole class of Residual Interests in REMIC V for
        purposes of the REMIC Provisions.

       

      The
        following table sets forth the Class designation, Pass-Through Rate, Initial
        Certificate Principal Balance and, for purposes of satisfying Treasury
        Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for
        the indicated Class of Certificates that represents a Regular Interest in
        REMIC
        V created hereunder:

       

      
        	
                Class
                  Designation

              	
                Pass-Through
                  Rate

              	
                Initial

                Certificate
                  Principal Balance

              	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                P

              	
                0.00%(2)

              	
                $100.00

              	
                June
                  25, 2036

              

      

      _______________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date immediately following the maturity date for the
                  Mortgage
                  Loan with the latest maturity date has been designated as the “latest
                  possible maturity date” for the Class P
                  Certificates.

              

      

      
        	
                (2)

              	
                The
                  Class P Certificates will receive 100% of the amounts received
                  in respect
                  of the Class P Interest.

              

      

       

      REMIC
        VI

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the Class IO Interest as a REMIC for federal income tax purposes,
        and such segregated pool of assets will be designated as “REMIC VI”. The Class
        R-6 Interest represents the sole class of Residual Interests in REMIC VI
        for
        purposes of the REMIC Provisions.

       

      The
        following table sets forth the designation, Pass-Through Rate, initial
        Uncertificated Principal Balance and, for purposes of satisfying Treasury
        Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for
        the indicated class of interests that represents a Regular Interest in REMIC
        VI
        created hereunder:

       

      
        	
                Designation

              	
                Pass-Through
                  Rate

              	
                Initial
                  Uncertificated Principal Balance

              	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                IO(2)

              	
                (3)

              	
                (4)

              	
                June
                  25, 2036

              

      

      _______________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date immediately following the maturity date for the
                  Mortgage
                  Loan with the latest maturity date has been designated as the “latest
                  possible maturity date” for REMIC VI Regular Interest
                  IO.

              

      

      
        	
                (2)

              	
                REMIC
                  VI Regular Interest IO will be held as an asset of the Supplemental
                  Interest Trust.

              

      

      
        	
                (3)

              	
                REMIC
                  VI Regular Interest IO will not have a Pass-Through Rate, but will
                  receive
                  100% of the amounts received in respect of the Class IO
                  Interest.

              

      

      
        	
                (4)

              	
                REMIC
                  VI Regular Interest IO will not have an Uncertificated Principal
                  Balance,
                  but will have a notional amount equal to the Uncertificated Notional
                  Amount of the Class IO Interest.

              

      

       

      The
        Trust
        Fund shall be named, and may be referred to as, the “Bear Stearns Asset Backed
        Securities I Trust 2006-HE5.” The Certificates issued hereunder may be referred
        to as “Asset-Backed Certificates, Series 2006-HE5” (including for purposes of
        any endorsement or assignment of a Mortgage Note or Mortgage).

       

      In
        consideration of the mutual agreements herein contained, the Depositor, the
        Master Servicer, the Seller and the Trustee agree as follows:

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        I

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      DEFINITIONS

       

      Section
        1.01 Defined
        Terms. 

       

      Whenever
        used in this Agreement, the following words and phrases, unless otherwise
        expressly provided or unless the context otherwise requires, shall have the
        meanings specified in this Article:

       

      10-K
        Filing Deadline:
        As
        defined in Section 3.16(iii).

       

      Accepted
        Servicing Practices:
        With
        respect to each Mortgage Loan, those mortgage servicing practices and
        procedures, including prudent collection and loan administration procedures,
        and
        the standard of care (i) employed by prudent mortgage servicers which service
        mortgage loans of the same type as the Mortgage Loans in the jurisdictions
        in
        which the related Mortgage Properties are located or (ii) in accordance with
        the
        Fannie Mae Guide or Freddie Mac Guide, subject to any variances negotiated
        with
        Fannie Mae or Freddie Mac and subject to the express provisions of this
        Agreement. Such standard of care shall not be lower than that the Master
        Servicer customarily employs and exercises in servicing and administering
        similar mortgage loans for its own account and shall be in full compliance
        with
        all federal, state, and local laws, ordinances, rules and
        regulations.

       

      Account:
        The
        Distribution Account, the Reserve Fund, the Swap Account, the Class P
        Certificate Account and the Protected Account.

       

      Accrual
        Period:
        With
        respect to the Certificates (other than the Class CE, Class P and the Residual
        Certificates) and any Distribution Date, the period from and including the
        immediately preceding Distribution Date (or with respect to the first Accrual
        Period, the Closing Date) to and including the day prior to such Distribution
        Date. With respect to the Class CE Certificates and the Class CE Interest
        and
        any Distribution Date, the calendar month immediately preceding such
        Distribution Date. All calculations of interest on the Certificates (other
        than
        the Class CE, Class P and the Residual Certificates) will be made on the
        basis
        of the actual number of days elapsed in the related Accrual Period. All
        calculations of interest on the Class CE Interest and the Class CE Certificates
        will be made on the basis of a 360-day year consisting of twelve 30-day
        months.

       

      Additional
        Disclosure:
        As
        defined in Section 3.16(a)(v).

       

      Additional
        Disclosure Notification:
        The
        form of notice set forth in Exhibit R.

       

      Additional
        Form 10-D Disclosure:
        As
        defined in Section 3.16(a)(ii).

       

      Additional
        Form 10-K Disclosure:
        As
        defined in Section 3.16(a)(iv).

       

      Advance:
        An
        advance of delinquent payments of principal or interest in respect of a Mortgage
        Loan required to be made by the Master Servicer as provided in Section 5.01
        hereof.

       

      Affected
        Party:
        An
“Affected Party” as defined in the Swap Agreement.

       

      Agreement:
        This
        Pooling and Servicing Agreement and any and all amendments or supplements
        hereto
        made in accordance with the terms herein.

       

      Adjustable
        Rate Mortgage Loan:
        Each of
        the Mortgage Loans identified in the Mortgage Loan Schedule as having a Mortgage
        Rate that is subject to adjustment.

       

      Adjustment
        Date:
        With
        respect to each Adjustable Rate Mortgage Loan, the first day of the month
        in
        which the Mortgage Rate of an Adjustable Rate Mortgage Loan changes pursuant
        to
        the related Mortgage Note. The first Adjustment Date following the Cut-off
        Date
        as to each Adjustable Rate Mortgage Loan is set forth in the Mortgage Loan
        Schedule.

       

      Amount
        Held for Future Distribution:
        As to
        any Distribution Date, the aggregate amount held in the Protected Account
        at the
        close of business on the immediately preceding Determination Date on account
        of
        (i) all Scheduled Payments or portions thereof received in respect of the
        Mortgage Loans due after the related Due Period and (ii) Principal Prepayments,
        Liquidation Proceeds, Subsequent Recoveries and Insurance Proceeds received
        in
        respect of such Mortgage Loans after the last day of the related Prepayment
        Period.

       

      Annual
        Statement of Compliance:
        As
        defined in Section 3.13.

       

      Applied
        Realized Loss Amount:
        With
        respect to any Distribution Date and a Class of Class A Certificates and
        Class M
        Certificates, the sum of the Realized Losses with respect to the Mortgage
        Loans
        which have been applied in reduction of the Certificate Principal Balance
        of a
        Class of Certificates pursuant to Section 5.05 of this Agreement which have
        not
        previously been reimbursed or reduced by any Subsequent Recoveries applied
        to
        such Applied Realized Loss Amount.

       

      Appraised
        Value:
        With
        respect to any Mortgage Loan originated in connection with a refinancing,
        the
        appraised value of the Mortgaged Property based upon the appraisal made at
        the
        time of such refinancing or, with respect to any other Mortgage Loan, the
        lesser
        of (x) the appraised value of the Mortgaged Property based upon the appraisal
        made by a fee appraiser at the time of the origination of the related Mortgage
        Loan, and (y) the sales price of the Mortgaged Property at the time of such
        origination.

       

      Assessment
        of Compliance:
        As
        defined in Section 3.14.

       

      Attesting
        Party:
        As
        defined in Section 3.14.

       

      Attestation
        Report:
        As
        defined in Section 3.14.

       

      Back-Up
        Certification:
        As
        defined in Section 3.16(a)(iv).

       

      Basis
        Risk Shortfall Carry Forward Amount:
        With
        respect to any Distribution Date and any Class of Class A Certificates and
        Class
        M Certificates, an amount equal to the sum of (A) if the Pass-Through Rate
        for
        such Class for such Distribution Date is limited to the related Net Rate
        Cap,
        the excess, if any, of (a) the amount of Current Interest that such Class
        would
        have been entitled to receive on such Distribution Date had the Pass-Though
        Rate
        applicable to such Class been calculated at a per annum rate equal to One-Month
        LIBOR plus the related Certificate Margin, over (b) the amount of Current
        Interest that such Class received on such Distribution Date if the Pass-Through
        Rate is limited to the related Net Rate Cap and (B) the Basis Risk Shortfall
        Carry Forward Amount for the previous Distribution Date not previously paid,
        together with interest thereon at a rate equal to the related Pass-Through
        Rate
        the current Distribution Date.

       

      Bankruptcy
        Code:
        Title
        11 of the United States Code.

       

      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 6.06).
        As of the Closing Date, each Class of Regular Certificates (other than the
        Class
        CE Certificates and Class P Certificates) constitutes a Class of Book-Entry
        Certificates.

       

      Business
        Day:
        Any day
        other than (i) a Saturday or a Sunday, or (ii) a day on which banking
        institutions in The City of New York, New York, Chicago, Illinois, Minneapolis,
        Minnesota or the city in which the Corporate Trust Office of the Trustee
        or the
        principal office of the Master Servicer is located as authorized or obligated
        by
        law or executive order to be closed.

       

      Certificate:
        Any one
        of the certificates of any Class executed and authenticated by the Trustee
        in
        substantially the forms attached hereto as Exhibits A-1 through
        A-5.

       

      Certificate
        Margin:
        With
        respect to the Class I-A-1 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest I-A-1, 0.050% per
        annum.

       

      With
        respect to the Class I-A-2 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest I-A-2, 0.170% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.340% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class I-A-3 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest I-A-3, 0.270% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.540% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class II-A Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest II-A, 0.150% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.300% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-1 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-1, 0.300% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.450% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-2 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-2, 0.320% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.480% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-3 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-3, 0.330% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.495% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-4 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-4, 0.380% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.570% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-5 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-5, 0.400% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.600% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-6 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-6, 0.500% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 0.750% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-7 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-7, 0.950% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 1.425% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-8 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-8, 1.100% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 1.650% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-9 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-9, 1.950% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 2.925% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-10 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-10, 2.500% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 3.750% per annum in the case of each
        Distribution Date thereafter.

       

      With
        respect to the Class M-11 Certificates and, for purposes of the definition
        of
“One-Month LIBOR Pass-Through Rate”, REMIC II Regular Interest M-11, 2.500% per
        annum in the case of each Distribution Date through and including the first
        possible Optional Termination Date and 3.750% per annum in the case of each
        Distribution Date thereafter.

       

      Certificate
        Notional Amount:
        With
        respect to the Class CE Certificates and any Distribution Date, an amount
        equal
        to the Stated Principal Balance of the Mortgage Loans as of the beginning
        of the
        related Due Period. The
        initial Certificate Notional Amount of the Class CE Certificates shall be
        $411,700,971.74. For federal income tax purposes, the Certificate Notional
        Amount for any Distribution Date shall be an amount equal to the Uncertificated
        Notional Amount for the Class CE Interest for such Distribution
        Date.

       

      Certificate
        Owner:
        With
        respect to a Book-Entry Certificate, the Person that is the beneficial owner
        of
        such Book-Entry Certificate.

       

      Certificate
        Principal Balance:
        As to
        any Certificate (other than the Class CE Certificates or Class R Certificates)
        and as of any Distribution Date, the Initial Certificate Principal Balance
        of
        such Certificate plus, in the case of a Class A Certificate and Class M
        Certificate, any Subsequent Recoveries added to the Certificate Principal
        Balance of such Certificate pursuant to Section 5.04(b), less the sum of
        (i) all
        amounts distributed with respect to such Certificate in reduction of the
        Certificate Principal Balance thereof on previous Distribution Dates pursuant
        to
        Section 5.04, and (ii) any Applied Realized Loss Amounts allocated to such
        Certificate on previous Distribution Dates. As to the Class CE Certificates
        and
        as of any Distribution Date, an amount equal to the Uncertificated Principal
        Balance of the Class CE Interest.

       

      Certificate
        Register:
        The
        register maintained pursuant to Section 6.02 hereof.

       

      Certificateholder
        or Holder:
        The
        person in whose name a Certificate is registered in the Certificate Register
        (initially, Cede & Co., as nominee for the Depository, in the case of any
        Book-Entry Certificates).

       

      Certification
        Parties:
        As
        defined in Section 3.16(a)(iv).

       

      Certifying
        Person:
        As
        defined in Section 3.16(a)(iv).

       

      Class:
        All
        Certificates bearing the same Class designation as set forth in Section 6.01
        hereof.

       

      Class
        A Certificates:
        Any of
        the Class I-A-1, Class I-A-2, Class I-A-3 and Class II-A
        Certificates.

       

      Class
        A Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the Principal
        Distribution Amount for such Distribution Date and (y) the excess, if any,
        of
        (i) the aggregate Certificate Principal Balance of the Class A Certificates
        immediately prior to such Distribution Date, over (ii) the lesser of (a)
        the
        product of (1) 54.00% and (2) 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 after reduction for Realized Losses
        incurred during the related Due 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, and after reduction
        for
        Realized Losses incurred during the related Due Period) minus
        $2,058,505.

       

      Class
        I-A Certificates:
        Any of
        the Class I-A-1, Class I-A-2 and Class I-A-3 Certificates.

       

      Class
        I-A-1 Certificate:
        Any
        Certificate designated as a “Class I-A-1 Certificate” on the face thereof, in
        the form of Exhibit A-1 hereto, representing the right to the Percentage
        Interest of distributions provided for the Class I-A-1 Certificates as set
        forth
        herein and evidencing (i) a Regular Interest in REMIC III, (ii) the right
        to
        receive Basis Risk Shortfall Carry Forward Amounts and (iii) the obligation
        to
        pay Class IO Distribution Amounts.

       

      Class
        I-A-2 Certificate:
        Any
        Certificate designated as a “Class I-A-2 Certificate” on the face thereof, in
        the form of Exhibit A-1 hereto, representing the right to the Percentage
        Interest of distributions provided for the Class I-A-2 Certificates as set
        forth
        herein and evidencing (i) a Regular Interest in REMIC III, (ii) the right
        to
        receive Basis Risk Shortfall Carry Forward Amounts and (iii) the obligation
        to
        pay Class IO Distribution Amounts.

       

      Class
        I-A-3 Certificate:
        Any
        Certificate designated as a “Class I-A-3 Certificate” on the face thereof, in
        the form of Exhibit A-1 hereto, representing the right to the Percentage
        Interest of distributions provided for the Class I-A-3 Certificates as set
        forth
        herein and evidencing (i) a Regular Interest in REMIC III, (ii) the right
        to
        receive Basis Risk Shortfall Carry Forward Amounts and (iii) the obligation
        to
        pay Class IO Distribution Amounts.

       

      Class
        I-A Principal Distribution Amount:
        For any
        Distribution Date, with respect to the Class I-A Certificates and any
        Distribution Date, is the product of the Class A Principal Distribution Amount
        and a fraction, the numerator of which is the Principal Funds for Loan Group
        I
        for such Distribution Date and the denominator of which is the Principal
        Funds
        for both Loan Groups for such Distribution Date.

       

      Class
        II-A Certificate:
        Any
        Certificate designated as a “Class II-A Certificate” on the face thereof, in the
        form of Exhibit A-1 hereto, representing the right to the Percentage Interest
        of
        distributions provided for the Class II-A Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        II-A Principal Distribution Amount:
        For any
        Distribution Date, with respect to the Class II-A Certificates and any
        Distribution Date, is the product of the Class A Principal Distribution Amount
        and a fraction, the numerator of which is the Principal Funds for Loan Group
        II
        for such Distribution Date and the denominator of which is the Principal
        Funds
        for both Loan Groups for such Distribution Date.

       

      Class
        CE Certificate:
        Any
        Certificate designated as a “Class CE Certificate” on the face thereof, in the
        form of Exhibit A-4 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class CE Certificates herein and evidencing
        (i) a
        Regular Interest in REMIC IV, (ii) the obligation to pay Basis Risk Shortfall
        Carry Forward Amounts and (iii) the right to receive Class IO Distribution
        Amounts.

       

      Class
        CE Distribution Amount:
        With
        respect to any Distribution Date, the sum of (i) the Current Interest for
        the
        Class CE Interest for such Distribution Date, (ii) any Overcollateralization
        Release Amount for such Distribution Date and (iii) without duplication,
        any
        Subsequent Recoveries not distributed to the Class A Certificates and Class
        M
        Certificates on such Distribution Date; provided, however that on any
        Distribution Date after the Distribution Date on which the Certificate Principal
        Balances of the Class A Certificates and Class M Certificates have been reduced
        to zero, the Class CE Distribution Amount shall include the
        Overcollateralization Amount.

       

      Class
        CE Interest:
        An
        uncertificated interest in the Trust Fund held by the Trustee on behalf of
        the
        Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC
        III
        for purposes of the REMIC Provisions.

       

      Class
        IO Distribution Amount:
        As
        defined in Section 3.21 hereof. For purposes of clarity, the Class IO
        Distribution Amount for any Distribution Date shall equal the amount payable
        to
        the Swap Administrator on such Distribution Date in excess of the amount
        payable
        on REMIC VI Regular Interest IO on such Distribution Date, all as further
        provided in Section 3.21 hereof.

       

      Class
        IO Interest:
        An
        uncertificated interest in the Trust Fund held by the Trustee on behalf of
        the
        Holders of REMIC VI Regular Interest IO, evidencing a Regular Interest in
        REMIC
        III for purposes of the REMIC Provisions.

       

      Class
        M Certificates:
        Any of
        the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class
        M-7,
        Class M-8, Class M-9, Class M-10 and Class M-11 Certificates.

       

      Class
        M-1 Certificate:
        Any
        Certificate designated as a “Class M-1 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-1 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-1 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and (y) the excess, if any, of (a) the sum
        of (1)
        the aggregate Certificate Principal Balance of the Class A Certificates (after
        taking into account the distribution of the Class A Principal Distribution
        Amount on such Distribution Date) and (2) the Certificate Principal Balance
        of
        the Class M-1 Certificates immediately prior to such Distribution Date, over
        (b)
        the lesser of (1) the product of (x) 62.20% and (y) 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $2,058,505.

       

      Class
        M-2 Certificate:
        Any
        Certificate designated as a “Class M-2 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-2 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-2 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and the Class M-1 Principal Distribution Amount
        and (y) the excess, if any, of (a) the sum of (1) the aggregate Certificate
        Principal Balance of the Class A Certificates (after taking into account
        the
        distribution of the Class A Principal Distribution Amount on such Distribution
        Date), (2) the Certificate Principal Balance of the Class M-1 Certificates
        (after taking into account the distribution of the Class M-1 Principal
        Distribution Amount on such Distribution Date) and (3) the Certificate Principal
        Balance of the Class M-2 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 69.50% and (y) 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $2,058,505.

       

      Class
        M-3 Certificate:
        Any
        Certificate designated as a “Class M-3 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-3 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-3 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount
        and
        the Class M-2 Principal Distribution Amount and (y) the excess, if any, of
        (a)
        the sum of (1) the aggregate Certificate Principal Balance of the Class A
        Certificates (after taking into account the distribution of the Class A
        Principal Distribution Amount on such Distribution Date), (2) the Certificate
        Principal Balance of the Class M-1 Certificates (after taking into account
        the
        distribution of the Class M-1 Principal Distribution Amount on such Distribution
        Date), (3) the Certificate Principal Balance of the Class M-2 Certificates
        (after taking into account the distribution of the Class M-2 Principal
        Distribution Amount on such Distribution Date) and (4) the Certificate Principal
        Balance of the Class M-3 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 74.00% and (y) 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $2,058,505.

       

      Class
        M-4 Certificate:
        Any
        Certificate designated as a “Class M-4 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-4 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-4 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount and the Class M-3 Principal Distribution
        Amount and (y) the excess, if any, of (a) the sum of (1) the aggregate
        Certificate Principal Balance of the Class A Certificates (after taking into
        account the distribution of the Class A Principal Distribution Amount on
        such
        Distribution Date), (2) the Certificate Principal Balance of the Class M-1
        Certificates (after taking into account the distribution of the Class M-1
        Principal Distribution Amount on such Distribution Date), (3) the Certificate
        Principal Balance of the Class M-2 Certificates (after taking into account
        the
        distribution of the Class M-2 Principal Distribution Amount on such Distribution
        Date), (4) the Certificate Principal Balance of the Class M-3 Certificates
        (after taking into account the distribution of the Class M-3 Principal
        Distribution Amount on such Distribution Date) and (5) the Certificate Principal
        Balance of the Class M-4 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 77.80% and (y) 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $2,058,505.

       

      Class
        M-5 Certificate:
        Any
        Certificate designated as a “Class M-5 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-5 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-5 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution
        Amount and the Class M-4 Principal Distribution Amount and (y) the excess,
        if
        any, of (a) the sum of (1) the aggregate Certificate Principal Balance of
        the
        Class A Certificates (after taking into account the distribution of the Class
        A
        Principal Distribution Amount on such Distribution Date), (2) the Certificate
        Principal Balance of the Class M-1 Certificates (after taking into account
        the
        distribution of the Class M-1 Principal Distribution Amount on such Distribution
        Date), (3) the Certificate Principal Balance of the Class M-2 Certificates
        (after taking into account the distribution of the Class M-2 Principal
        Distribution Amount on such Distribution Date), (4) the Certificate Principal
        Balance of the Class M-3 Certificates (after taking into account the
        distribution of the Class M-3 Principal Distribution Amount on such Distribution
        Date), (5) the Certificate Principal Balance of the Class M-4 Certificates
        (after taking into account the distribution of the Class M-4 Principal
        Distribution Amount on such Distribution Date) and (6) the Certificate Principal
        Balance of the Class M-5 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 81.40% and (y) 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $2,058,505.

       

      Class
        M-6 Certificate:
        Any
        Certificate designated as a “Class M-6 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-6 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-6 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution
        Amount, the Class M-4 Principal Distribution Amount and the Class M-5 Principal
        Distribution Amount and (y) the excess, if any, of (a) the sum of (1) the
        aggregate Certificate Principal Balance of the Class A Certificates (after
        taking into account the distribution of the Class A Principal Distribution
        Amount on such Distribution Date), (2) the Certificate Principal Balance
        of the
        Class M-1 Certificates (after taking into account the distribution of the
        Class
        M-1 Principal Distribution Amount on such Distribution Date), (3) the
        Certificate Principal Balance of the Class M-2 Certificates (after taking
        into
        account the distribution of the Class M-2 Principal Distribution Amount on
        such
        Distribution Date), (4) the Certificate Principal Balance of the Class M-3
        Certificates (after taking into account the distribution of the Class M-3
        Principal Distribution Amount on such Distribution Date), (5) the Certificate
        Principal Balance of the Class M-4 Certificates (after taking into account
        the
        distribution of the Class M-4 Principal Distribution Amount on such Distribution
        Date), (6) the Certificate Principal Balance of the Class M-5 Certificates
        (after taking into account the distribution of the Class M-5 Principal
        Distribution Amount on such Distribution Date) and (7) the Certificate Principal
        Balance of the Class M-6 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 84.60% and (y) 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $2,058,505.

       

      Class
        M-7 Certificate:
        Any
        Certificate designated as a “Class M-7 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-7 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-7 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution
        Amount, the Class M-4 Principal Distribution Amount, the Class M-5 Principal
        Distribution Amount and the Class M-6 Principal Distribution Amount and (y)
        the
        excess, if any, of (a) the sum of (1) the aggregate Certificate Principal
        Balance of the Class A Certificates (after taking into account the distribution
        of the Class A Principal Distribution Amount on such Distribution Date),
        (2) the
        Certificate Principal Balance of the Class M-1 Certificates (after taking
        into
        account the distribution of the Class M-1 Principal Distribution Amount on
        such
        Distribution Date), (3) the Certificate Principal Balance of the Class M-2
        Certificates (after taking into account the distribution of the Class M-2
        Principal Distribution Amount on such Distribution Date), (4) the Certificate
        Principal Balance of the Class M-3 Certificates (after taking into account
        the
        distribution of the Class M-3 Principal Distribution Amount on such Distribution
        Date), (5) the Certificate Principal Balance of the Class M-4 Certificates
        (after taking into account the distribution of the Class M-4 Principal
        Distribution Amount on such Distribution Date), (6) the Certificate Principal
        Balance of the Class M-5 Certificates (after taking into account the
        distribution of the Class M-5 Principal Distribution Amount on such Distribution
        Date) (7) the Certificate Principal Balance of the Class M-6 Certificates
        (after
        taking into account the distribution of the Class M-6 Principal Distribution
        Amount on such Distribution Date) and (8) the Certificate Principal Balance
        of
        the Class M-7 Certificates immediately prior to such Distribution Date, over
        (b)
        the lesser of (1) the product of (x) 87.70% and (y) 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $2,058,505.

       

      Class
        M-8 Certificate:
        Any
        Certificate designated as a “Class M-8 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-8 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-8 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution
        Amount, the Class M-4 Principal Distribution Amount, the Class M-5 Principal
        Distribution Amount, the Class M-6 Principal Distribution Amount and the
        Class
        M-7 Principal Distribution Amount and (y) the excess, if any, of (a) the
        sum of
        (1) the aggregate Certificate Principal Balance of the Class A Certificates
        (after taking into account the distribution of the Class A Principal
        Distribution Amount on such Distribution Date), (2) the Certificate Principal
        Balance of the Class M-1 Certificates (after taking into account the
        distribution of the Class M-1 Principal Distribution Amount on such Distribution
        Date), (3) the Certificate Principal Balance of the Class M-2 Certificates
        (after taking into account the distribution of the Class M-2 Principal
        Distribution Amount on such Distribution Date), (4) the Certificate Principal
        Balance of the Class M-3 Certificates (after taking into account the
        distribution of the Class M-3 Principal Distribution Amount on such Distribution
        Date), (5) the Certificate Principal Balance of the Class M-4 Certificates
        (after taking into account the distribution of the Class M-4 Principal
        Distribution Amount on such Distribution Date), (6) the Certificate Principal
        Balance of the Class M-5 Certificates (after taking into account the
        distribution of the Class M-5 Principal Distribution Amount on such Distribution
        Date) (7) the Certificate Principal Balance of the Class M-6 Certificates
        (after
        taking into account the distribution of the Class M-6 Principal Distribution
        Amount on such Distribution Date), (8) the Certificate Principal Balance
        of the
        Class M-7 Certificates (after taking into account the distribution of the
        Class
        M-7 Principal Distribution Amount on such Distribution Date) and (9) the
        Certificate Principal Balance of the Class M-8 Certificates immediately prior
        to
        such Distribution Date, over (b) the lesser of (1) the product of (x) 90.60%
        and
        (y) 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 after reduction for Realized Losses incurred during the related
        Due
        Period), and (2) 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 after reduction for Realized Losses incurred
        during the related Due Period) minus $2,058,505.

       

      Class
        M-9 Certificate:
        Any
        Certificate designated as a “Class M-9 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-9 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-9 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution
        Amount, the Class M-4 Principal Distribution Amount, the Class M-5 Principal
        Distribution Amount, the Class M-6 Principal Distribution Amount, the Class
        M-7
        Principal Distribution Amount and the Class M-8 Principal Distribution Amount
        and (y) the excess, if any, of (a) the sum of (1) the aggregate Certificate
        Principal Balance of the Class A Certificates (after taking into account
        the
        distribution of the Class A Principal Distribution Amount on such Distribution
        Date), (2) the Certificate Principal Balance of the Class M-1 Certificates
        (after taking into account the distribution of the Class M-1 Principal
        Distribution Amount on such Distribution Date), (3) the Certificate Principal
        Balance of the Class M-2 Certificates (after taking into account the
        distribution of the Class M-2 Principal Distribution Amount on such Distribution
        Date), (4) the Certificate Principal Balance of the Class M-3 Certificates
        (after taking into account the distribution of the Class M-3 Principal
        Distribution Amount on such Distribution Date), (5) the Certificate Principal
        Balance of the Class M-4 Certificates (after taking into account the
        distribution of the Class M-4 Principal Distribution Amount on such Distribution
        Date), (6) the Certificate Principal Balance of the Class M-5 Certificates
        (after taking into account the distribution of the Class M-5 Principal
        Distribution Amount on such Distribution Date) (7) the Certificate Principal
        Balance of the Class M-6 Certificates (after taking into account the
        distribution of the Class M-6 Principal Distribution Amount on such Distribution
        Date), (8) the Certificate Principal Balance of the Class M-7 Certificates
        (after taking into account the distribution of the Class M-7 Principal
        Distribution Amount on such Distribution Date), (9) the Certificate Principal
        Balance of the Class M-8 Certificates (after taking into account the
        distribution of the Class M-8 Principal Distribution Amount on such Distribution
        Date) and (10) the Certificate Principal Balance of the Class M-9 Certificates
        immediately prior to such Distribution Date, over (b) the lesser of (1) the
        product of (x) 92.70% and (y) 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 after reduction for Realized Losses
        incurred during the related Due Period), and (2) 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 after reduction
        for
        Realized Losses incurred during the related Due Period) minus
        $2,058,505.

       

      Class
        M-10 Certificate:
        Any
        Certificate designated as a “Class M-10 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-10 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-10 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution
        Amount, the Class M-4 Principal Distribution Amount, the Class M-5 Principal
        Distribution Amount, the Class M-6 Principal Distribution Amount, the Class
        M-7
        Principal Distribution Amount, the Class M-8 Principal Distribution Amount
        and
        the Class M-9 Principal Distribution Amount and (y) the excess, if any, of
        (a)
        the sum of (1) the aggregate Certificate Principal Balance of the Class A
        Certificates (after taking into account the distribution of the Class A
        Principal Distribution Amount on such Distribution Date), (2) the Certificate
        Principal Balance of the Class M-1 Certificates (after taking into account
        the
        distribution of the Class M-1 Principal Distribution Amount on such Distribution
        Date), (3) the Certificate Principal Balance of the Class M-2 Certificates
        (after taking into account the distribution of the Class M-2 Principal
        Distribution Amount on such Distribution Date), (4) the Certificate Principal
        Balance of the Class M-3 Certificates (after taking into account the
        distribution of the Class M-3 Principal Distribution Amount on such Distribution
        Date), (5) the Certificate Principal Balance of the Class M-4 Certificates
        (after taking into account the distribution of the Class M-4 Principal
        Distribution Amount on such Distribution Date), (6) the Certificate Principal
        Balance of the Class M-5 Certificates (after taking into account the
        distribution of the Class M-5 Principal Distribution Amount on such Distribution
        Date) (7) the Certificate Principal Balance of the Class M-6 Certificates
        (after
        taking into account the distribution of the Class M-6 Principal Distribution
        Amount on such Distribution Date), (8) the Certificate Principal Balance
        of the
        Class M-7 Certificates (after taking into account the distribution of the
        Class
        M-7 Principal Distribution Amount on such Distribution Date), (9) the
        Certificate Principal Balance of the Class M-8 Certificates (after taking
        into
        account the distribution of the Class M-8 Principal Distribution Amount on
        such
        Distribution Date), (10) the Certificate Principal Balance of the Class M-9
        Certificates (after taking into account the distribution of the Class M-9
        Principal Distribution Amount on such Distribution Date) and (11) the
        Certificate Principal Balance of the Class M-10 Certificates immediately
        prior
        to such Distribution Date, over (b) the lesser of (1) the product of (x)
        94.50%
        and (y) 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 after reduction for Realized Losses incurred during the related
        Due
        Period), and (2) 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 after reduction for Realized Losses incurred
        during the related Due Period) minus $2,058,505.

       

      Class
        M-11 Certificate:
        Any
        Certificate designated as a “Class M-11 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-11 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        IO
        Distribution Amounts.

       

      Class
        M-11 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount, the Class M-3 Principal Distribution
        Amount, the Class M-4 Principal Distribution Amount, the Class M-5 Principal
        Distribution Amount, the Class M-6 Principal Distribution Amount, the Class
        M-7
        Principal Distribution Amount, the Class M-8 Principal Distribution Amount
        and
        the Class M-9 Principal Distribution Amount and (y) the excess, if any, of
        (a)
        the sum of (1) the aggregate Certificate Principal Balance of the Class A
        Certificates (after taking into account the distribution of the Class A
        Principal Distribution Amount on such Distribution Date), (2) the Certificate
        Principal Balance of the Class M-1 Certificates (after taking into account
        the
        distribution of the Class M-1 Principal Distribution Amount on such Distribution
        Date), (3) the Certificate Principal Balance of the Class M-2 Certificates
        (after taking into account the distribution of the Class M-2 Principal
        Distribution Amount on such Distribution Date), (4) the Certificate Principal
        Balance of the Class M-3 Certificates (after taking into account the
        distribution of the Class M-3 Principal Distribution Amount on such Distribution
        Date), (5) the Certificate Principal Balance of the Class M-4 Certificates
        (after taking into account the distribution of the Class M-4 Principal
        Distribution Amount on such Distribution Date), (6) the Certificate Principal
        Balance of the Class M-5 Certificates (after taking into account the
        distribution of the Class M-5 Principal Distribution Amount on such Distribution
        Date) (7) the Certificate Principal Balance of the Class M-6 Certificates
        (after
        taking into account the distribution of the Class M-6 Principal Distribution
        Amount on such Distribution Date), (8) the Certificate Principal Balance
        of the
        Class M-7 Certificates (after taking into account the distribution of the
        Class
        M-7 Principal Distribution Amount on such Distribution Date), (9) the
        Certificate Principal Balance of the Class M-8 Certificates (after taking
        into
        account the distribution of the Class M-8 Principal Distribution Amount on
        such
        Distribution Date), (10) the Certificate Principal Balance of the Class M-9
        Certificates (after taking into account the distribution of the Class M-9
        Principal Distribution Amount on such Distribution Date), (11) the Certificate
        Principal Balance of the Class M-10 Certificates immediately prior to such
        Distribution Date and (12) the Certificate Principal Balance of the Class
        M-11
        Certificates immediately prior to such Distribution Date, over (b) the lesser
        of
        (1) the product of (x) 96.40% and (y) 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 after reduction for Realized
        Losses incurred during the related Due Period), and (2) 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
        after reduction for Realized Losses incurred during the related Due Period)
        minus $2,058,505.

       

      Class
        P Certificate:
        Any
        Certificate designated as a “Class P Certificate” on the face thereof, in the
        form of Exhibit A-3 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class P Certificates as set forth herein and
        evidencing (i) a Regular Interest in REMIC V and (ii) the right to receive
        any
        Prepayment Charge Waiver Amounts.

       

      Class
        P Interest:
        An
        uncertificated interest in the Trust Fund held by the Trustee on behalf of
        the
        Holders of the Class P Certificates, evidencing a Regular Interest in REMIC
        III
        for purposes of the REMIC Provisions.

       

      Class
        P Certificate Account:
        The
        separate Eligible Account created and maintained by the Trustee pursuant
        to
        Section 4.06 in the name of the Trustee for the benefit of the Class P
        Certificateholders.

       

      Class
        R Certificate:
        Any of
        the Class R-1, Class R-2, Class R-3 or Class RX Certificates.

       

      Class
        R-1 Certificate:
        Any
        Certificate designated a “Class R-1 Certificate” on the face thereof, in the
        form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in
        REMIC
        I and representing the right to the Percentage Interest of distributions
        provided for the Class R-1 Certificates as set forth herein.

       

      Class
        R-2 Certificate:
        Any
        Certificate designated a “Class R-2 Certificate” on the face thereof, in the
        form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in
        REMIC
        II and representing the right to the Percentage Interest of distributions
        provided for the Class R-2 Certificates as set forth herein.

       

      Class
        R-3 Certificate:
        Any
        Certificate designated a “Class R-3 Certificate” on the face thereof, in the
        form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in
        REMIC
        III and representing the right to the Percentage Interest of distributions
        provided for the Class R-3 Certificates as set forth herein.

       

      Class
        RX Certificate:
        Any
        Certificate designated a “Class RX Certificate” on the face thereof, in the form
        set forth in Exhibit A-5 hereto, evidencing the ownership of the Class R-4
        Interest, Class R-5 Interest and Class R-6 Interest and representing the
        right
        to the Percentage Interest of distributions provided for the Class RX
        Certificates as set forth herein.

       

      Class
        R-4 Interest:
        The
        uncertificated Residual Interest in REMIC IV.

       

      Class
        R-5 Interest:
        The
        uncertificated Residual Interest in REMIC V.

       

      Class
        R-6 Interest:
        The
        uncertificated Residual Interest in REMIC VI.

       

      Closing
        Date:
        May 30,
        2006.

       

      Code:
        The
        Internal Revenue Code of 1986, including any successor or amendatory
        provisions.

       

      Commission:
        The
        U.S. Securities and Exchange Commission.

       

      Compensating
        Interest:
        An
        amount, not to exceed the Servicing Fee, to be deposited in the Protected
        Account by the Master Servicer to the payment of a Prepayment Interest Shortfall
        on a Mortgage Loan subject to this Agreement.

       

      Corporate
        Trust Office:
        The
        designated office of the Trustee where at any particular time its corporate
        trust business with respect to this Agreement shall be administered, which
        office at the date of the execution of this Agreement is located at 135 South
        LaSalle Street, Suite 1625, Chicago, Illinois, 60603 Attention: Global
        Securities and Trust Services Group - Bear Stearns Asset Backed Securities
        I
        LLC, Series 2006-HE5, or at such other address as the Trustee may designate
        from
        time to time.

       

      Corresponding
        Certificate:
        With
        respect to each REMIC II Regular Interest (other than REMIC II Regular Interests
        AA, ZZ, 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX, IO and P), the Certificate with the
        corresponding designation. With respect to each REMIC III Regular Interest
        (other than the Class CE Interest, the Class P Interest and the Class IO
        Interest), the related Certificate representing an ownership
        therein.

       

      Current
        Interest:
        As of
        any Distribution Date, with respect to the Certificates and interests of
        each
        class (other than the Class P Certificates, Class P Interest, the Residual
        Interests and the Residual Certificates), (i) the interest accrued on the
        Certificate Principal Balance or Certificate Notional Amount or Uncertificated
        Notional Amount, as applicable, during the related Accrual Period at the
        applicable Pass-Through Rate plus any amount previously distributed with
        respect
        to interest for such Certificate or interest that has been recovered as a
        voidable preference by a trustee in bankruptcy minus (ii) the sum of (a)
        any
        Prepayment Interest Shortfall for such Distribution Date, to the extent not
        covered by Compensating Interest and (b) any Relief Act Interest Shortfalls
        during the related Due Period, provided, however, that for purposes of
        calculating Current Interest for any such class, amounts specified in clause
        (ii) hereof for any such Distribution Date shall be allocated first to the
        Class
        CE Certificates and the Class CE Interest in reduction of amounts otherwise
        distributable to such Certificates and interest on such Distribution Date
        and
        then any excess shall be allocated to each Class of Class A Certificates
        and
        Class M Certificates pro
        rata
        based on
        the respective amounts of interest accrued pursuant to clause (i) hereof
        for
        each such Class on such Distribution Date.

       

      Current
        Specified Enhancement Percentage:
        With
        respect to any Distribution Date, the percentage obtained by dividing (x)
        the
        sum of (i) the aggregate Certificate Principal Balance of the Class M
        Certificates and (ii) the Overcollateralization Amount, in each case prior
        to
        the distribution of the Principal Distribution Amount on such Distribution
        Date,
        by (y) the aggregate Stated Principal Balance of the Mortgage Loans as of
        the
        end 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 after reduction for Realized Losses incurred during the related
        Due
        Period).

       

      Custodial
        Agreement:
        An
        agreement, dated as of May 30, 2006, among the Depositor, EMC, as a Seller
        and
        as Master Servicer, Master Funding as a Seller, the Trustee and the Custodian
        in
        substantially the form of Exhibit J hereto.

       

      Custodian:
        LaSalle
        Bank National Association, or any successor custodian appointed pursuant
        to the
        provisions hereof and the Custodial Agreement.

       

      Cut-off
        Date:
        The
        close of business on May 1, 2006.

       

      Cut-off
        Date Principal Balance:
        As to
        any Mortgage Loan, the unpaid principal balance thereof as of the close of
        business on the Cut-off Date after application of all Principal Prepayments
        received prior to the Cut-off Date and scheduled payments of principal due
        on or
        before the Cut-off Date, whether or not received, but without giving effect
        to
        any installments of principal received in respect of Due Dates after the
        Cut-off
        Date. The aggregate Cut-off Date Principal Balance of the Mortgage Loans
        is
        $411,700,971.74.

       

      Debt
        Service Reduction:
        With
        respect to any Mortgage Loan, a reduction by a court of competent jurisdiction
        in a proceeding under the Bankruptcy Code in the Scheduled Payment for such
        Mortgage Loan that became final and non-appealable, except such a reduction
        resulting from a Deficient Valuation or any other reduction that results
        in a
        permanent forgiveness of principal.

       

      Defaulting
        Party:
        A
“Defaulting Party” as defined in the Swap Agreement.

       

      Deficient
        Valuation:
        With
        respect to any Mortgage Loan, a valuation by a court of competent jurisdiction
        of the Mortgaged Property in an amount less than the then outstanding
        indebtedness under such Mortgage Loan, or any reduction in the amount of
        principal to be paid in connection with any Scheduled Payment that results
        in a
        permanent forgiveness of principal, which valuation or reduction results
        from an
        order of such court that is final and non-appealable in a proceeding under
        the
        Bankruptcy Code.

       

      Definitive
        Certificates:
        As
        defined in Section 6.06.

       

      Deleted
        Mortgage Loan:
        A
        Mortgage Loan replaced or to be replaced by a Replacement Mortgage
        Loan.

       

      Delinquency
        Event:
        A
        Delinquency Event shall
        have occurred and be continuing if at any time, (x) the percent equivalent
        of a
        fraction, the numerator of which is the aggregate Stated Principal Balance
        of
        the Mortgage Loans that are 60 days or more Delinquent (including for this
        purpose any such Mortgage Loans in bankruptcy or foreclosure and Mortgage
        Loans
        with respect to which the related Mortgaged Property is REO Property), and
        the
        denominator of which is the aggregate Stated Principal Balance of all of
        the
        Mortgage Loans, in each case as of the last day of the related Due Period
        exceeds (y) 34.75% of the Current
        Specified Enhancement Percentage.

       

      Delinquent:
        A
        Mortgage Loan is “delinquent” if any payment due thereon is not made pursuant to
        the terms of such Mortgage Loan by the close of business on the day such
        payment
        is scheduled to be due. A Mortgage Loan is “30 days delinquent” if such payment
        has not been received by the close of business on the corresponding day of
        the
        month immediately succeeding the month in which such payment was due, or,
        if
        there is no such corresponding day (e.g., as when a 30-day month follows
        a
        31-day month in which a payment was due on the 31st day of such month), then
        on
        the last day of such immediately succeeding month. Similarly for “60 days
        delinquent,” “90 days delinquent” and so on.

       

      Denomination:
        With
        respect to each Certificate, the amount set forth on the face thereof as
        the
“Initial Principal Balance or Initial Notional Amount of this
        Certificate”.

       

      Depositor:
        Bear
        Stearns Asset Backed Securities I LLC, a Delaware limited liability company,
        or
        its successor in interest.

       

      Depository:
        The
        initial Depository shall be The Depository Trust Company (“DTC”), the nominee of
        which is Cede & Co., or any other organization registered as a “clearing
        agency” pursuant to Section 17A of the Securities Exchange Act of 1934, as
        amended. 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(a)(5) of the Uniform Commercial Code of
        the State of New York.

       

      Depository
        Agreement:
        With
        respect to the Class of Book-Entry Certificates, the agreement among the
        Depositor, the Trustee and the initial Depository, dated as of the Closing
        Date,
        substantially in the form of Exhibit H.

       

      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.

       

      Determination
        Date:
        With
        respect to any Distribution Date, the 15th day of the month of such Distribution
        Date or, if such 15th day is not a Business Day, the immediately preceding
        Business Day.

       

      Distribution
        Account:
        The
        separate Eligible Account created and maintained by the Trustee pursuant
        to
        Section 4.04 in the name of the Trustee for the benefit of the
        Certificateholders designated “LaSalle Bank National Association, in trust for
        registered holders of Bear Stearns Asset Backed Securities I LLC, Asset-Backed
        Certificates, Series 2006-HE5”. Funds in the Distribution Account shall be held
        in trust for the Certificateholders for the uses and purposes set forth in
        this
        Agreement.

       

      Distribution
        Account Deposit Date:
        Two
        Business Days prior to each Distribution Date.

       

      Distribution
        Date:
        The
        25th day of each calendar month after the initial issuance of the Certificates,
        or if such 25th day is not a Business Day, the next succeeding Business Day,
        commencing in June 2006.

       

      Due
        Date:
        As to
        any Mortgage Loan, the date in each month on which the related Scheduled
        Payment
        is due, as set forth in the related Mortgage Note.

       

      Due
        Period:
        With
        respect to any Distribution Date, the period from the second day of the calendar
        month preceding the calendar month in which such Distribution Date occurs
        through close of business on the first day of the calendar 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 long-term unsecured debt
        obligations and 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 debt obligations of such holding company, so long
        as
        Moody’s is not a Rating Agency) are rated by each Rating Agency in one of its
        two highest long-term and its highest short-term rating categories,
        respectively, at the time any amounts are held on deposit therein, or (ii)
        an
        account or accounts in a depository institution or trust company in which
        such
        accounts are insured by the FDIC (to the limits established by the FDIC)
        and the
        uninsured deposits in which accounts are otherwise secured such that, as
        evidenced by an Opinion of Counsel delivered to the Trustee and to each Rating
        Agency, the Certificateholders have a claim with respect to the funds in
        such
        account or a perfected first priority security interest against any collateral
        (which shall be limited to Permitted Investments) securing such funds that
        is
        superior to claims of any other depositors or creditors of the depository
        institution or trust company in which such account is maintained, or (iii)
        a
        trust account or accounts maintained with the corporate trust department
        of a
        federal or state chartered depository institution or trust company having
        capital and surplus of not less than $50,000,000, acting in its fiduciary
        capacity or (iv) any other account acceptable to the Rating Agencies, as
        evidenced in writing. Eligible Accounts may bear interest, and may include,
        if
        otherwise qualified under this definition, accounts maintained with the
        Trustee.

       

      EMC:
        EMC
        Mortgage Corporation, a Delaware corporation, and its successors and
        assigns.

       

      EMC
        Mortgage Loans:
        The
        Mortgage Loans identified as such on the Mortgage Loan Schedule for which
        EMC is
        the applicable Seller.

       

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

       

      ERISA
        Restricted Certificates:
        Any of
        the Class CE, Class P and Residual Certificates.

       

      Event
        of Default:
        As
        defined in Section 8.01 hereof.

       

      Excess
        Cashflow:
        With
        respect to any Distribution Date, an amount, if any, equal to the sum of
        (a) the
        Remaining Excess Spread for such Distribution Date and (b) the
        Overcollateralization Release Amount for such Distribution Date.

       

      Excess
        Liquidation Proceeds:
        To the
        extent not required by law to be paid to the related Mortgagor, the excess,
        if
        any, of any Liquidation Proceeds with respect to a Mortgage Loan over the
        Stated
        Principal Balance of such Mortgage Loan and accrued and unpaid interest at
        the
        related Mortgage Rate through the last day of the month in which the Mortgage
        Loan has been liquidated.

       

      Excess
        Spread:
        With
        respect to any Distribution Date, the excess, if any, of (i) the Interest
        Funds
        for such Distribution Date over (ii) the sum of the Current Interest on the
        Class A Certificates and Class M Certificates and Interest Carry Forward
        Amounts
        on the Class A Certificates (other than Interest Carry Forward Amounts paid
        pursuant to Sections 5.04(a)(4)(A)), in each case for such Distribution
        Date.

       

      Exchange
        Act:
        Securities Exchange Act of 1934, as amended.

       

      Exemption:
        Prohibited Transaction Exemption 90-30, as amended from time to
        time.

       

      Extra
        Principal Distribution Amount:
        With
        respect to any Distribution Date, the lesser of (i) the excess, if any, of
        the
        Overcollateralization Target Amount for such Distribution Date, over the
        Overcollateralization Amount for such Distribution Date (after giving effect
        to
        distributions of principal on the Certificates other than any Extra Principal
        Distribution Amount) and (ii) the Excess Spread for such Distribution
        Date.

       

      Fannie
        Mae:
        Fannie
        Mae (formerly, Federal National Mortgage Association), or any successor
        thereto.

       

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

       

      Final
        Certification:
        The
        certification substantially in the form of Exhibit Three to the Custodial
        Agreement.

       

      Final
        Recovery Determination:
        With
        respect to any defaulted Mortgage Loan or any REO Property (other than a
        Mortgage Loan or REO Property purchased by EMC (on its own behalf as a seller
        and on behalf of Master Funding) pursuant to or as contemplated by Section
        2.03(c) or Section 10.01), a determination made by the Master Servicer that
        all
        Insurance Proceeds, Liquidation Proceeds and other payments or recoveries
        which
        the Master Servicer, in its reasonable good faith judgment, expects to be
        finally recoverable in respect thereof have been so recovered. The Trustee
        shall
        maintain records, based solely on information provided by the Master Servicer,
        of each Final Recovery Determination made thereby.

       

      FIRREA:
        The
        Financial Institutions Reform, Recovery, and Enforcement Act of
        1989.

       

      Fiscal
        Quarter:
        December 1 to February 29 (or the last day in such month), March 1 to May
        31,
        June 1 to August 31, or September 1 to November 30, as applicable.

       

      Fitch:
        Fitch,
        Inc. and any successor thereto.

       

      Form
        8-K Disclosure Information:
        As
        defined in Section 3.16(a)(iii).

       

      Freddie
        Mac:
        Federal
        Home Loan Mortgage Corporation, or any successor thereto.

       

      Global
        Certificate:
        Any
        Private Certificate registered in the name of the Depository or its nominee,
        beneficial interests in which are reflected on the books of the Depository
        or on
        the books of a Person maintaining an account with such Depository (directly
        or
        as an indirect participant in accordance with the rules of such
        depository).

       

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

       

      Group
        I Loans:
        The
        Mortgage Loans identified as such on the Mortgage Loan Schedule.

       

      Group
        I Principal Distribution Amount:
        With
        respect to any Distribution Date, the product of the Principal Distribution
        Amount for such Distribution Date and a fraction, the numerator of which
        is the
        Principal Funds for Loan Group I for such Distribution Date and the denominator
        of which is the Principal Funds for both Loan Groups for such Distribution
        Date.

       

      Group
        II Loans:
        The
        Mortgage Loans identified as such on the Mortgage Loan Schedule.

       

      Group
        II Principal Distribution Amount:
        With
        respect to any Distribution Date, the product of the Principal Distribution
        Amount for such Distribution Date and a fraction, the numerator of which
        is the
        Principal Funds for Loan Group II for such Distribution Date and the denominator
        of which is the Principal Funds for both Loan Groups for such Distribution
        Date.

       

      Indemnified
        Persons:
        The
        Trustee, the Master Servicer, the Trust Fund and their officers, directors,
        agents and employees and, with respect to the Trustee, any separate co-trustee
        and its officers, directors, agents and employees.

       

      Index:
        With
        respect to each Adjustable Rate Mortgage Loan and with respect to each related
        Adjustment Date, the index as specified in the related Mortgage
        Note.

       

      Individual
        Certificate:
        Any
        Private Certificate registered in the name of the Holder other than the
        Depository or its nominee.

       

      Initial
        Certification:
        The
        certification substantially in the form of Exhibit One to the Custodial
        Agreement.

       

      Initial
        Certificate Principal Balance:
        With
        respect to any Certificate, the Certificate Principal Balance of such
        Certificate or any predecessor Certificate on the Closing Date.

       

      Institutional
        Accredited Investor:
        Any
        Person meeting the requirements of Rule 501(a)(l), (2), (3) or (7) of Regulation
        D under the Securities Act or any entity all of the equity Holders in which
        come
        within such paragraphs.

       

      Insurance
        Proceeds:
        Proceeds paid in respect of the Mortgage Loans pursuant to any Insurance
        Policy
        and any other insurance policy covering a Mortgage Loan, to the extent such
        proceeds are payable to the mortgagee under the Mortgage, the Master Servicer
        or
        the trustee under the deed of trust and are not applied to the restoration
        of
        the related Mortgaged Property or released to the Mortgagor in accordance
        with
        the procedures that the Master Servicer would follow in servicing mortgage
        loans
        held for its own account, in each case other than any amount included in
        such
        Insurance Proceeds in respect of Insured Expenses.

       

      Insured
        Expenses:
        Expenses covered by any insurance policy with respect to the Mortgage
        Loans.

       

      Interest
        Carry Forward Amount:
        As of
        any Distribution Date and with respect to each Class of Certificates (other
        than
        the Class CE, Class P and the Residual Certificates), the sum of (i) the
        excess
        of (a) the Current Interest for such Class with respect to such Distribution
        Date and any prior Distribution Dates over (b) the amount actually distributed
        to such Class of Certificates with respect to interest on such Distribution
        Dates and (ii) interest thereon (to the extent permitted by applicable law)
        at
        the applicable Pass-Through Rate for such Class for the related Accrual Period
        including the Accrual Period relating to such Distribution Date.

       

      Interest
        Determination Date:
        Shall
        mean the second LIBOR Business Day preceding the commencement of each Accrual
        Period.

       

      Interest
        Funds:
        With
        respect to each Loan Group and any Distribution Date (1) the sum, without
        duplication, of (a) all scheduled interest during the related Due Period
        with
        respect to the Mortgage Loans less the Servicing Fee, the Trustee Fee and
        the
        LPMI Fee, if any, (b) all Advances relating to interest with respect to the
        Mortgage Loans made on or prior to the related Distribution Account Deposit
        Date, (c) all Compensating Interest with respect to the Mortgage Loans and
        required to be remitted by the Master Servicer pursuant to this Agreement
        with
        respect to such Distribution Date, (d) Liquidation Proceeds and Subsequent
        Recoveries with respect to the Mortgage Loans collected during the related
        Prepayment Period (to the extent such Liquidation Proceeds and Subsequent
        Recoveries relate to interest), (e) all amounts relating to interest with
        respect to each Mortgage Loan repurchased by EMC (on its own behalf as Seller
        and on behalf of Master Funding) pursuant to Sections 2.02 and 2.03 and by
        the
        Master Servicer pursuant to Section 3.19, in each case to the extent remitted
        by
        the Master Servicer to the Distribution Account pursuant to this Agreement
        and
        (f) amounts in respect of interest paid by the Majority Class CE
        Certificateholder or the Master Servicer, as applicable, pursuant to Section
        10.01, minus (2) (i) all amounts relating to interest required to be reimbursed
        pursuant to Sections 4.02 and 4.05 or as otherwise set forth in this Agreement,
        and (ii) any Net Swap Payment or Swap Termination Payment (not due to a Swap
        Provider Trigger Event and to the extent not paid by the Swap Administrator
        from
        any upfront payment received pursuant to any replacement interest rate swap
        agreements that may be entered into by the Supplemental Interest Trust Trustee)
        owed to the Swap Administrator for payment to the Swap Provider for such
        Distribution Date and any such payments remaining unpaid for any prior
        Distribution Dates.

       

      Interim
        Certification:
        The
        certification substantially in the form of Exhibit Two to the Custodial
        Agreement.

       

      LaSalle:
        LaSalle
        Bank National Association, and any successor thereto.

       

      Last
        Scheduled Distribution Date:
        Solely
        for purposes of the face of the Certificates as follows: with respect to
        the
        Certificates, other than the Class I-A-1 Certificates and Class I-A-2
        Certificates, the Distribution Date in June 2036; with respect to the Class
        I-A-1 Certificates and Class I-A-2 Certificates, the Distribution Date in
        March
        2030 and July 2035, respectively.

       

      Latest
        Possible Maturity Date:
        June
        25, 2036, which is the Distribution Date in the month following the final
        scheduled maturity date of the Mortgage Loan in the Trust Fund having the
        latest
        scheduled maturity date as of the Cut-off Date. For purposes of the Treasury
        regulations under Sections 860A through 860G of the Code, the latest possible
        maturity date of each Regular Interest issued by REMIC I, REMIC II, REMIC
        III,
        REMIC IV, REMIC V and REMIC VI shall be the Latest Possible Maturity
        Date.

       

      LIBOR
        Business Day:
        Shall
        mean a day on which banks are open for dealing in foreign currency and exchange
        in London and New York City.

       

      Liquidated
        Loan:
        With
        respect to any Distribution Date, a defaulted Mortgage Loan that has been
        liquidated through deed-in-lieu of foreclosure, foreclosure sale, trustee’s sale
        or other realization as provided by applicable law governing the real property
        subject to the related Mortgage and any security agreements and as to which
        the
        Master Servicer has made a Final Recovery Determination with respect
        thereto.

       

      Liquidation
        Proceeds:
        Amounts, other than Insurance Proceeds, received in connection with the partial
        or complete liquidation of a Mortgage Loan, whether through trustee’s sale,
        foreclosure sale or otherwise, or in connection with any condemnation or
        partial
        release of a Mortgaged Property and any other proceeds received with respect
        to
        an REO Property, less the sum of related unreimbursed Advances, Servicing
        Fees
        and Servicing Advances and all expenses of liquidation, including property
        protection expenses and foreclosure and sale costs, including court and
        reasonable attorneys fees.

       

      Loan-to-Value
        Ratio:
        The
        fraction, expressed as a percentage, the numerator of which is the original
        principal balance of the related Mortgage Loan and the denominator of which
        is
        the Appraised Value of the related Mortgaged Property.

       

      Loan
        Group:
        Any of
        Loan Group I or Loan Group II.

       

      Loan
        Group I:
        The
        group of Mortgage Loans included as such on the Mortgage Loan
        Schedule.

       

      Loan
        Group II:
        The
        group of Mortgage Loans included as such on the Mortgage Loan
        Schedule.

       

      Loss
        Allocation Limitation:
        The
        meaning specified in Section 5.05(b) hereof.

       

      LPMI
        Fee:
        The fee
        payable to the insurer for each Mortgage Loan subject to an LPMI Policy as
        set
        forth in such LPMI Policy.

       

      LPMI
        Policy:
        A
        policy of mortgage guaranty insurance issued by an insurer meeting the
        requirements of Fannie Mae and Freddie Mac in which the Master Servicer or
        the
        related subservicer of the related Mortgage Loan is responsible for the payment
        of the LPMI Fee thereunder from collections on the related Mortgage
        Loan.

       

      Majority
        Class CE Certificateholder:
        The
        Holder of a 50.01% or greater Percentage Interest in the Class CE
        Certificates.

       

      Marker
        Rate:
        With
        respect to the Class CE Interest and any Distribution Date, a per annum rate
        equal to two (2) times the weighted average of the Uncertificated REMIC II
        Pass-Through Rates for the REMIC II Regular Interests (other than REMIC II
        Regular Interests AA, 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX, IO and P), with the
        rate
        on each such REMIC II Regular Interest (other than REMIC II Regular Interest
        ZZ)
        subject to a cap equal to the lesser of (i) the One-Month LIBOR Pass-Through
        Rate for the Corresponding Certificate and (ii) the Net Rate Cap for the
        REMIC
        III Regular Interest the ownership of which is represented by the Corresponding
        Certificate for the purpose of this calculation for such Distribution Date,
        and
        with the rate on REMIC II Regular Interest ZZ subject to a cap of zero for
        the
        purpose of this calculation; provided, however, that solely for this purpose,
        the related cap with respect to each REMIC II Regular Interest (other than
        REMIC
        II Regular Interests AA, ZZ, 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX, IO and P) shall
        be
        multiplied by a fraction, the numerator of which is 30 and the denominator
        of
        which is the actual number of days in the related Accrual Period.

       

      Master
        Funding:
        Master
        Funding LLC, a Delaware limited liability company, and its successors and
        assigns, in its capacity as the seller of the Master Funding Mortgage Loans
        to
        the Depositor.

       

      Master
        Funding Mortgage Loans:
        The
        Mortgage Loans identified as such on the Mortgage Loan Schedule for which
        Master
        Funding is the applicable Seller.

       

      Master
        Servicer:
        EMC
        Mortgage Corporation, in its capacity as master servicer, and its successors
        and
        assigns.

       

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

       

      Maximum
        Uncertificated Accrued Interest Deferral Amount:
        With
        respect to any Distribution Date, the excess of (i) accrued interest at the
        Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular
        Interest ZZ for such Distribution Date on a balance equal to the Uncertificated
        Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II
        Overcollateralized Amount, in each case for such Distribution Date, over
        (ii)
        the aggregate amount of Uncertificated Accrued Interest for such Distribution
        Date on the REMIC II Regular Interests (other than REMIC II Regular Interests
        AA, ZZ, 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX, IO and P), with the rate on each
        such
        REMIC II Regular Interest subject to a cap equal to the lesser of (x) the
        One-Month LIBOR Pass-Through Rate for the Corresponding Certificate and (y)
        the
        Net Rate Cap for the REMIC III Regular Interest the ownership of which is
        represented by the Corresponding Certificate for the purpose of this calculation
        for such Distribution Date; provided, however, that solely for this purpose,
        the
        related cap with respect to each REMIC II Regular Interest (other than REMIC
        II
        Regular Interests AA, ZZ, 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX, IO and P) shall
        be
        multiplied by a fraction, the numerator of which is 30 and the denominator
        of
        which is the actual number of days in the related Accrual Period.

       

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

       

      MERS®
        System:
        The
        system of recording transfers of Mortgages electronically maintained by
        MERS.

       

      MIN:
        The
        Mortgage Identification Number for Mortgage Loans registered with MERS on
        the
        MERS® System.

       

      Minimum
        Mortgage Rate:
        With
        respect to each Adjustable Rate Mortgage Loan, the percentage set forth in
        the
        related Mortgage Note as the minimum Mortgage Rate thereunder.

       

      MOM
        Loan:
        With
        respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage
        Loan, solely as nominee for the originator of such Mortgage Loan and its
        successors and assigns, at the origination thereof.

       

      Monthly
        Statement:
        The
        statement delivered to the Certificateholders pursuant to Section
        5.06.

       

      Moody’s:
        Moody’s
        Investors Service, Inc., and any successor thereto.

       

      Mortgage:
        The
        mortgage, deed of trust or other instrument creating a first or second lien
        on
        or first or second priority ownership interest in an estate in fee simple
        in
        real 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 delivered to the Custodian to
        be
        added to the Mortgage File pursuant to this Agreement and the Custodial
        Agreement.

       

      Mortgage
        Loans:
        Such of
        the Mortgage Loans transferred and assigned to the Trustee pursuant to the
        provisions hereof, as from time to time are held as a part of the Trust Fund
        (including any REO Property), the mortgage loans so held being identified
        in the
        Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition
        of
        title of the related Mortgaged Property.

       

      Mortgage
        Loan Purchase Agreement:
        The
        Mortgage Loan Purchase Agreement, dated as of May 30, 2006, among EMC, as
        a
        seller, Master Funding, as a seller and the Depositor, as purchaser in the
        form
        attached hereto as Exhibit L.

       

      Mortgage
        Loan Purchase Price:
        The
        price, calculated as set forth in Section 10.01, to be paid in connection
        with
        the repurchase of the Mortgage Loans pursuant to Section 10.01.

       

      Mortgage
        Loan Schedule:
        The
        list of Mortgage Loans (as from time to time amended by the Seller or the
        Master
        Servicer to reflect the deletion of Deleted Mortgage Loans and the addition
        of
        Replacement Mortgage Loans pursuant to the provisions of this Agreement)
        transferred to the Trustee as part of the Trust Fund and from time to time
        subject to this Agreement, the initial Mortgage Loan Schedule being attached
        hereto as Exhibit B setting forth the following information with respect
        to each
        Mortgage Loan:

       

      (a) the
        city,
        state and zip code of the Mortgaged Property; 

      (b) the
        property type;

      (c) the
        Mortgage Interest Rate;

      (d) the
        Servicing Fee Rate;

      (e) the
        Master Servicer's Fee Rate;

      (f) the
        LPMI
        Fee, if applicable;

      (g) [reserved];

      (h) the
        Net
        Rate;

      (i) the
        maturity date;

      (j) the
        stated original term to maturity;

      (k) the
        stated remaining term to maturity;

      (l) the
        original Principal Balance;

      (m) the
        first
        payment date;

      (n) the
        principal and interest payment in effect as of the Cut-off Date;

      (o) the
        unpaid Principal Balance as of the Cut-off Date;

      (p) the
        Loan-to-Value Ratio at origination;

      (q) the
        insurer of any Primary Mortgage Insurance Policy;

      (r) the
        MIN
        with respect to each MOM Loan;

      (s) the
        Gross
        Margin, if applicable;

      (t) the
        next
        Adjustment Date, if applicable;

      (u) the
        Maximum Mortgage Rate, if applicable;

      (v) the
        Minimum Mortgage Rate, if applicable;

      (w) the
        Periodic Rate Cap, if applicable; 

      (x) the
        Loan
        Group, if applicable;

      (y) a
        code
        indicating whether the Mortgage Loan is negatively amortizing;

      (z) which
        Mortgage Loans adjust after an initial fixed-rate period of one, two, three,
        five, seven or ten years or any other period; 

      (aa) the
        Prepayment Charge, if any;

      (bb) lien
        position (e.g., first lien or second lien);

      (cc) a
        code
        indicating whether the Mortgage Loan is has a balloon payment;

      (dd) a
        code
        indicating whether the Mortgage Loan is an interest-only loan; 

      (ee) the
        interest-only term, if applicable;

      (ff) the
        Mortgage Loan Seller; and

      (gg) the
        original amortization term.

       

      Such
        schedule also shall set forth for all of the Mortgage Loans, the total number
        of
        Mortgage Loans, the total of each of the amounts described under (n) and
        (j)
        above, the weighted average by principal balance as of the Cut-off Date of
        each
        of the rates described under (c) through (h) above, and the weighted average
        remaining term to maturity by unpaid principal balance as of the Cut-off
        Date.

       

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

       

      Mortgage
        Rate:
        With
        respect to each fixed rate Mortgage Loan, the rate set forth in the related
        Mortgage Note. With respect to each Adjustable Rate 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, which rate (A)
        as
        of any date of determination until the first Adjustment Date following the
        Cut-off Date shall be the rate set forth in the Mortgage Loan Schedule as
        the
        Mortgage Rate in effect immediately following the Cut-off Date and (B) as
        of any
        date of determination thereafter shall be the rate as adjusted on the most
        recent Adjustment Date, to equal the sum, rounded to the next highest or
        nearest
        0.125% (as provided in the Mortgage Note), of the Index, determined as set
        forth
        in the related Mortgage Note, plus the related Gross Margin subject to the
        limitations set forth in the related Mortgage Note. With respect to each
        Mortgage Loan that becomes an REO Property, as of any date of determination,
        the
        annual rate determined in accordance with the immediately preceding sentence
        as
        of the date such Mortgage Loan became an REO Property.

       

      Mortgaged
        Property:
        The
        underlying property securing a Mortgage Loan.

       

      Mortgagor:
        The
        obligors on a Mortgage Note.

       

      Net
        Mortgage Rate:
        As to
        each Mortgage Loan, and at any time, the per annum rate equal to the Mortgage
        Rate less the sum of (i) the Servicing Fee Rate, (ii) the Trustee Fee Rate
        and
        (iii) the rate at which the LPMI Fee is calculated, if any.

       

      Net
        Rate Cap:
        With
        respect to any Distribution Date and the Class I-A-1, Class I-A-2 and Class
        I-A-3 Certificates, the excess, if any, of (A) a per annum rate equal to
        the
        product of (x) the weighted average of the Net Mortgage Rates on the then
        outstanding Mortgage Loans in Loan Group I, weighted based on the Stated
        Principal Balances of such Mortgage Loans as
        of the
        related Due Date prior to giving effect to any reduction in the Stated Principal
        Balances of such Mortgage Loans on such Due Date,
        and (y)
        a fraction, the numerator of which is 30 and the denominator of which is
        the
        actual number of days elapsed in the related Accrual Period, over (B) an
        amount,
        expressed as a per annum rate, equal to the sum of (i) the Net Swap Payment
        payable to the Swap Provider on such Distribution Date and (ii) any Swap
        Termination Payment not due to a Swap Provider Trigger Event payable to the
        Swap
        Provider (to the extent not paid by the Swap Administrator from any upfront
        payment received pursuant to any replacement interest rate swap agreement
        that
        may be entered into by the Supplemental Interest Trust Trustee), divided
        by the
        aggregate outstanding Stated Principal Balance of the Mortgage Loans as of
        the
        related Due Date prior to giving effect to any reduction in the Stated Principal
        Balances of such Mortgage Loans on such Due Date, multiplied by 12. With
        respect
        to any Distribution Date and the REMIC III Regular Interests the ownership
        of
        which is represented by the Class I-A-1, Class I-A-2 and Class I-A-3
        Certificates, a per annum rate equal to the weighted average (adjusted for
        the
        actual number of days elapsed in the related Accrual Period) of the
        Uncertificated REMIC II Pass-Through Rate on REMIC II Regular Interest 1-Grp,
        weighted on the basis of the Uncertificated Principal Balance of such REMIC
        II
        Regular Interest immediately prior to such Distribution Date.

       

      With
        respect to any Distribution Date and the Class II-A Certificates, the excess,
        if
        any, of (A) a per annum rate equal to the product of (x) the weighted average
        of
        the Net Mortgage Rates on the then outstanding Mortgage Loans in Loan Group
        II,
        weighted based on the Stated Principal Balances of such Mortgage Loans as
        of the
        related Due Date prior to giving effect to any reduction in the Stated Principal
        Balances of such Mortgage Loans on such Due Date, and (y) a fraction, the
        numerator of which is 30 and the denominator of which is the actual number
        of
        days elapsed in the related Accrual Period, over (B) an amount, expressed
        as a
        per annum rate, equal to the sum of (i) the Net Swap Payment payable to the
        Swap
        Provider on such Distribution Date and (ii) any Swap Termination Payment
        not due
        to a Swap Provider Trigger Event payable to the Swap Provider (to the extent
        not
        paid by the Swap Administrator from any upfront payment received pursuant
        to any
        replacement interest rate swap agreement that may be entered into by the
        Supplemental Interest Trust Trustee), divided by the aggregate outstanding
        Stated Principal Balance of the Mortgage Loans as of the related Due Date
        prior
        to giving effect to any reduction in the Stated Principal Balances of such
        Mortgage Loans on such Due Date, multiplied by 12. With respect to any
        Distribution Date and the REMIC III Regular Interests the ownership of which
        is
        represented by the Class II-A Certificates, a per annum rate equal to the
        weighted average (adjusted for the actual number of days elapsed in the related
        Accrual Period) of the Uncertificated REMIC II Pass-Through Rate on REMIC
        II
        Regular Interest 2-Grp, weighted on the basis of the Uncertificated Principal
        Balance of such REMIC II Regular Interest immediately prior to such Distribution
        Date.

       

      With
        respect to any Distribution Date and the Class M Certificates, the excess,
        if
        any, of (A) a per annum rate equal to the product of (x) the weighted average
        of
        the weighted average of the Net Mortgage Rates on the then outstanding Mortgage
        Loans in each Loan Group, weighted in proportion to the results of subtracting
        from the aggregate Stated Principal Balances of each such Loan Group as of
        the
        related Due Date prior to giving effect to any reduction in the Stated Principal
        Balances of such Mortgage Loans on such Due Date, the aggregate Certificate
        Principal Balance of the related Class or Classes of Senior Certificates
        and (y)
        a fraction, the numerator of which is 30 and the denominator of which is
        the
        actual number of days elapsed in the related Accrual Period, over (B) an
        amount,
        expressed as a per annum rate, equal to the sum of (i) the Net Swap Payment
        payable to the Swap Provider on such Distribution Date and (ii) any Swap
        Termination Payment not due to a Swap Provider Trigger Event payable to the
        Swap
        Provider (to the extent not paid by the Swap Administrator from any upfront
        payment received pursuant to any replacement interest rate swap agreement
        that
        may be entered into by the Supplemental Interest Trust Trustee), divided
        by the
        aggregate outstanding Stated Principal Balance of the Mortgage Loans as of
        the
        related Due Date prior to giving effect to any reduction in the Stated Principal
        Balances of such Mortgage Loans on such Due Date, multiplied by 12. With
        respect
        to any Distribution Date and the REMIC III Regular Interests the ownership
        of
        which is represented by the Class M Certificates, a per annum rate equal
        to the
        weighted average (adjusted for the actual number of days elapsed in the related
        Accrual Period) of the Uncertificated REMIC II Pass-Through Rates on (a)
        REMIC
        II Regular Interest 1-Sub, subject to a cap and a floor equal to the
        Uncertificated REMIC II Pass-Through Rate on REMIC II Regular Interest 1-Grp
        and
        (b) REMIC II Regular Interest 2-Sub, subject to a cap and a floor equal to
        the
        Uncertificated REMIC II Pass-Through Rate on REMIC II Regular Interest 2-Grp,
        in
        each case as determined for such Distribution Date, weighted on the basis
        of the
        Uncertificated Principal Balances of each such REMIC II Regular Interest
        immediately prior to such Distribution Date.

       

      Net
        Swap Payment:
        With
        respect to each Distribution Date, the net payment required to be made pursuant
        to the terms of the Swap Agreement by either the Swap Provider or the Swap
        Administrator, which net payment shall not take into account any Swap
        Termination Payment.

       

      Non
        Book-Entry Certificate:
        Any
        Certificate other than a Book-Entry Certificate.

       

      Nonrecoverable
        Advance:
        Any
        portion of an Advance previously made or proposed to be made by the Master
        Servicer pursuant to this Agreement, that, in the good faith judgment of
        the
        Master Servicer, will not or, in the case of a proposed advance, would not,
        be
        ultimately recoverable by it from the related Mortgagor, related Liquidation
        Proceeds, Insurance Proceeds or otherwise.

       

      Notional
        Amount:
        With
        respect to each Distribution Date and the Swap Agreement, the notional amount
        for the related calculation period as set forth in the related schedule set
        forth in Exhibit M. 

       

      Offered
        Certificates:
        The
        Class I-A-1, Class I-A-2, Class I-A-3, Class II-A, Class M-1, Class M-2,
        Class
        M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9
        Certificates.

       

      Officer’s
        Certificate:
        A
        certificate (i) signed by the Chairman of the Board, the Vice Chairman of
        the
        Board, the President, a Vice President (however denominated), an Assistant
        Vice
        President, the Treasurer, the Secretary, or one of the assistant treasurers
        or
        assistant secretaries of the Depositor or the Master Servicer (or any other
        officer customarily performing functions similar to those performed by any
        of
        the above designated officers and also to whom, with respect to a particular
        matter, such matter is referred because of such officer’s knowledge of and
        familiarity with a particular subject) or (ii), if provided for in this
        Agreement, signed by a Servicing Officer, as the case may be, and delivered
        to
        the Depositor, the Seller, Master Funding LLC and/or the Trustee, as the
        case
        may be, as required by this Agreement.

       

      One-Month
        LIBOR:
        With
        respect to any Accrual Period, the rate determined by the Trustee on the
        related
        Interest Determination Date on the basis of the rate for U.S. dollar deposits
        for one month that appears on Telerate Screen Page 3750 as of 11:00 a.m.
        (London
        time) on such Interest Determination Date. If such rate does not appear on
        such
        page (or such other page as may replace that page on that service, or if
        such
        service is no longer offered, such other service for displaying One-Month
        LIBOR
        or comparable rates as may be reasonably selected by the Trustee), One-Month
        LIBOR for the applicable Accrual Period will be the Reference Bank Rate.
        If no
        such quotations can be obtained by the Trustee and no Reference Bank Rate
        is
        available, One-Month LIBOR will be One-Month LIBOR applicable to the preceding
        Accrual Period. The establishment of One-Month LIBOR on each Interest
        Determination Date by the Trustee and the Trustee’s calculation of the rate of
        interest applicable to the Class A Certificates and Class M Certificates
        for the
        related Accrual Period shall, in the absence of manifest error, be final
        and
        binding.

       

      One-Month
        LIBOR Pass-Through Rate:
        With
        respect to each Class A Certificate and Class M Certificate and, for purposes
        of
        the definition of “Marker Rate” and “Maximum Uncertificated Accrued Interest
        Deferral Amount”, the REMIC II Regular Interest for which such certificate is
        the Corresponding Certificate, a per annum rate equal to One-Month LIBOR
        plus
        the related Certificate Margin.

       

      Opinion
        of Counsel:
        A
        written opinion of counsel, who may be counsel for the Seller, the Depositor
        or
        the Master Servicer, reasonably acceptable to each addressee of such opinion;
        provided that with respect to Section 2.05, 7.05, 7.07 or 11.01, or the
        interpretation or application of the REMIC Provisions, such counsel must
        (i) in
        fact be independent of the Seller, Depositor and the Master Servicer, (ii)
        not
        have any direct financial interest in the
        Seller, the
        Depositor or the Master Servicer or in any affiliate of either, and (iii)
        not be
        connected with the Seller, the Depositor or the Master Servicer as an officer,
        employee, promoter, underwriter, trustee, partner, director or person performing
        similar functions.

       

      Optional
        Termination:
        The
        termination of the Trust Fund created hereunder as a result of the purchase
        of
        all of the Mortgage Loans and any REO Property.

       

      Optional
        Termination Date:
        The
        Distribution Date on which the Stated Principal Balance of all of the Mortgage
        Loans is equal to or less than 10% of the Stated Principal Balance of all
        of the
        Mortgage Loans as of the Cut-off Date.

       

      Original
        Value:
        The
        value of the property underlying a Mortgage Loan based, in the case of the
        purchase of the underlying Mortgaged Property, on the lower of an appraisal
        or
        the sales price of such property or, in the case of a refinancing, on an
        appraisal.

       

      OTS:
        The
        Office of Thrift Supervision.

       

      Outstanding:
        With
        respect to the Certificates as of any date of determination, all Certificates
        theretofore executed and authenticated under this Agreement except:

       

      (a) Certificates
        theretofore canceled by the Trustee or delivered to the Trustee for
        cancellation; and

       

      (b) Certificates
        in exchange for which or in lieu of which other Certificates have been executed
        and delivered by the Trustee pursuant to this Agreement.

       

      Outstanding
        Mortgage Loan:
        As of
        any date of determination, a Mortgage Loan with a Stated Principal Balance
        greater than zero that was not the subject of a Principal Prepayment in full,
        and that did not become a Liquidated Loan, prior to the end of the related
        Prepayment Period.

       

      Overcollateralization
        Amount:
        With
        respect to any Distribution Date, the excess, if any, of 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
        after reduction for Realized Losses incurred during the related Due Period)
        over
        the aggregate Certificate Principal Balance of the Certificates (other than
        the
        Class CE Certificates and Class P Certificates) on such Distribution Date
        (after
        taking into account the payment of principal (other than any Extra Principal
        Distribution Amount) on such Certificates).

       

      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
        Overcollateralization 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 (with the amount pursuant to clause (y) deemed to be $0
        if the
        Overcollateralization Amount is less than or equal to the Overcollateralization
        Target Amount on that Distribution Date).

       

      Overcollateralization
        Target Amount:
        With
        respect to any Distribution Date (a) prior to the Stepdown Date, 1.80% of
        the
        aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
        Date,
        (b) on or after the Stepdown Date and if a Trigger Event is not in effect,
        the
        greater of (i) the lesser of (1) 1.80% of the aggregate Stated Principal
        Balance
        of the Mortgage Loans as of the Cut-off Date and (2) 3.60% of the then current
        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 after reduction for Realized Losses incurred during the related
        Due
        Period) and (ii) $2,058,505 or (c) on or after the Stepdown Date and if a
        Trigger Event is in effect, the Overcollateralization Target Amount for the
        immediately preceding Distribution Date.

       

      Ownership
        Interest:
        As to
        any Certificate, any ownership 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.

       

      Pass-Through
        Rate:
        With
        respect to the Class A Certificates and Class M Certificates and any
        Distribution Date, a rate per annum equal to the lesser of (i) the related
        One-Month LIBOR Pass-Through Rate for such Distribution Date and (ii) the
        related Net Rate Cap for such Distribution Date.

       

      With
        respect to the Class CE Interest and any Distribution Date, a rate per annum
        equal to the percentage equivalent of a fraction, the numerator of which
        is the
        sum of the amount determined for each REMIC II Regular Interest (other than
        REMIC II Regular Interests 1-Sub, 1-Grp, 2-Sub, 2-Grp, XX, IO and P) equal
        to
        the product of (a) the excess, if any, of the Uncertificated REMIC II
        Pass-Through Rate for such REMIC II Regular Interest over the Marker Rate
        and
        (b) a notional amount equal to the Uncertificated Principal Balance of such
        REMIC II Regular Interest, and the denominator of which is the aggregate
        Uncertificated Principal Balance of such REMIC II Regular
        Interests.

       

      With
        respect to the Class CE Certificate, the Class CE Certificate shall not have
        a
        Pass-Through Rate, but Current Interest for such Certificate and each
        Distribution Date shall be an amount equal to 100% of the amount distributable
        to the Class CE Interest for such Distribution Date.

       

      With
        respect to the Class P Certificate and the Class P Interest, 0.00% per
        annum.

       

      With
        respect to the Class IO Interest, Class IO Interest shall not have a
        Pass-Through Rate, but Current Interest for such interest and each Distribution
        Date shall be an amount equal to 100% of the amount distributable to REMIC
        II
        Regular Interest IO for such Distribution Date.

       

      With
        respect to REMIC VI Regular Interest IO, REMIC VI Regular Interest IO shall
        not
        have a Pass-Through Rate, but Current Interest for such Regular Interest
        and
        each Distribution Date shall be an amount equal to 100% of the amount
        distributable to the Class IO Interest for such Distribution Date.

       

      Percentage
        Interest:
        With
        respect to any Certificate of a specified Class, the Percentage Interest
        set
        forth on the face thereof or the percentage obtained by dividing the
        Denomination of such Certificate by the aggregate of the Denominations of
        all
        Certificates of such Class.

       

      Periodic
        Rate Cap:
        With
        respect to each Adjustable Rate Mortgage Loan and any Adjustment Date therefor,
        the fixed percentage set forth in the related Mortgage Note, which is the
        maximum amount by which the Mortgage Rate for such Mortgage Loan may increase
        or
        decrease (without regard to the Maximum Mortgage Rate or the Minimum Mortgage
        Rate) on such Adjustment Date from the Mortgage Rate in effect immediately
        prior
        to such Adjustment Date.

       

      Permitted
        Investments:
        At any
        time, any one or more of the following obligations and securities:

       

      
        	 	
                (i)

              	
                obligations
                  of the United States or any agency thereof, provided such obligations
                  are
                  backed by the full faith and credit of the United
                  States;

              

      

       

      
        	 	
                (ii)

              	
                general
                  obligations of or obligations guaranteed by any state of the United
                  States
                  or the District of Columbia receiving the highest long-term debt
                  rating of
                  each Rating Agency, or such lower rating as will not result in
                  the
                  downgrading or withdrawal of the ratings then assigned to the Certificates
                  by each Rating Agency, as evidenced in
                  writing;

              

      

       

      
        	 	
                (iii)

              	
                commercial
                  or finance company paper which is then receiving the highest commercial
                  or
                  finance company paper rating of each Rating Agency, or such lower
                  rating
                  as will not result in the downgrading or withdrawal of the ratings
                  then
                  assigned to the Certificates by each Rating Agency, as evidenced
                  in
                  writing;

              

      

       

      
        	 	
                (iv)

              	
                certificates
                  of deposit, demand or time deposits, or bankers’ acceptances issued by any
                  depository institution or trust company incorporated under the
                  laws of the
                  United States or of any state thereof and subject to supervision
                  and
                  examination by federal and/or state banking authorities (including
                  the
                  Trustee in its commercial banking capacity), provided that the
                  commercial
                  paper and/or long term unsecured debt obligations of such depository
                  institution or trust company are then rated one of the two highest
                  long-term and the highest short-term ratings of each such Rating
                  Agency
                  for such securities, or such lower ratings as will not result in
                  the
                  downgrading or withdrawal of the rating then assigned to the Certificates
                  by any Rating Agency, as evidenced in
                  writing;

              

      

       

      
        	 	
                (v)

              	
                guaranteed
                  reinvestment agreements issued by any bank, insurance company or
                  other
                  corporation containing, at the time of the issuance of such agreements,
                  such terms and conditions as will not result in the downgrading
                  or
                  withdrawal of the rating then assigned to the Certificates by each
                  Rating
                  Agency, as evidenced in writing;

              

      

       

      
        	 	
                (vi)

              	
                repurchase
                  obligations with respect to any security described in clauses (i)
                  and (ii)
                  above, in either case entered into with a depository institution
                  or trust
                  company (acting as principal) described in clause (v)
                  above;

              

      

       

      
        	 	
                (vii)

              	
                securities
                  (other than stripped bonds, stripped coupons or instruments sold
                  at a
                  purchase price in excess of 115% of the face amount thereof) bearing
                  interest or sold at a discount issued by any corporation incorporated
                  under the laws of the United States or any state thereof which,
                  at the
                  time of such investment, have one of the two highest short term
                  ratings of
                  each Rating Agency (except if the Rating Agency is Moody’s, such rating
                  shall be the highest commercial paper rating of Moody’s for any such
                  securities), or such lower rating as will not result in the downgrading
                  or
                  withdrawal of the rating then assigned to the Certificates by each
                  Rating
                  Agency, as evidenced by a signed writing delivered by each Rating
                  Agency;

              

      

       

      
        	 	
                (viii)

              	
                interests
                  in any money market fund (including any such fund managed or advised
                  by
                  the Trustee or any affiliate thereof) which at the date of acquisition
                  of
                  the interests in such fund and throughout the time such interests
                  are held
                  in such fund has the highest applicable short term rating by each
                  Rating
                  Agency or such lower rating as will not result in the downgrading
                  or
                  withdrawal of the ratings then assigned to the Certificates by
                  each Rating
                  Agency, as evidenced in writing;

              

      

       

      
        	 	
                (ix)

              	
                short
                  term investment funds sponsored by any trust company or banking
                  association incorporated under the laws of the United States or
                  any state
                  thereof (including any such fund managed or advised by the Trustee
                  or the
                  Master Servicer or any affiliate thereof) which on the date of
                  acquisition
                  has been rated by each Rating Agency in their respective highest
                  applicable rating category or such lower rating as will not result
                  in the
                  downgrading or withdrawal of the ratings then assigned to the Certificates
                  by each Rating Agency, as evidenced in writing;
                  and

              

      

       

      
        	 	
                (x)

              	
                such
                  other investments having a specified stated maturity and bearing
                  interest
                  or sold at a discount acceptable to each Rating Agency and as will
                  not
                  result in the downgrading or withdrawal of the rating then assigned
                  to the
                  Certificates by any Rating Agency, as evidenced by a signed writing
                  delivered by each Rating Agency;

              

      

       

      provided,
        that no such instrument shall be a Permitted Investment if such instrument
        (i)
        evidences the right to receive interest only payments with respect to the
        obligations underlying such instrument, (ii) is purchased at a premium or
        (iii)
        is purchased at a deep discount; provided further that no such instrument
        shall
        be a Permitted Investment (A) if such instrument evidences principal and
        interest payments derived from obligations underlying such instrument and
        the
        interest payments with respect to such instrument provide a yield to maturity
        of
        greater than 120% of the yield to maturity at par of such underlying
        obligations, or (B) if it may be redeemed at a price below the purchase price
        (the foregoing clause (B) not to apply to investments in units of money market
        funds pursuant to clause (viii) above); provided further that no amount
        beneficially owned by any REMIC may be invested in investments (other than
        money
        market funds) treated as equity interests for federal income tax purposes,
        unless the Master Servicer shall receive an Opinion of Counsel, at the expense
        of the Master Servicer, to the effect that such investment will not adversely
        affect the status of any such REMIC as a REMIC under the Code or result in
        imposition of a tax on any such REMIC. Permitted Investments that are subject
        to
        prepayment or call may not be purchased at a price in excess of
        par.

       

      Permitted
        Transferee:
        Any
        person (x) other than (i) the United States, any State or political subdivision
        thereof, any possession of the United States or any agency or instrumentality
        of
        any of the foregoing, (ii) a foreign government, International Organization
        or
        any agency or instrumentality of either of the foregoing, (iii) an organization
        (except certain farmers’ cooperatives described in section 521 of the Code) that
        is exempt from tax imposed by Chapter 1 of the Code (including the tax imposed
        by section 511 of the Code on unrelated business taxable income) on any excess
        inclusions (as defined in section 860E(c)(1) of the Code) with respect to
        any
        Residual Certificate, (iv) rural electric and telephone cooperatives described
        in section 1381(a)(2)(C) of the Code or (v) on electing large partnership
        within
        the meaning of Section 775(a) of the Code, (y) that is a citizen or resident
        of
        the United States, a corporation, partnership (other than a partnership that
        has
        any direct or indirect foreign partners) or other entity (treated as a
        corporation or a partnership for federal income tax purposes), created or
        organized in or under the laws of the United States, any State thereof or
        the
        District of Columbia, an estate whose income from sources without the United
        States is includible in gross income for United States federal income tax
        purposes regardless of its connection with the conduct of a trade or business
        within the United States, or a trust if a court within the United States
        is able
        to exercise primary supervision over the administration of the trust and
        one or
        more United States persons have authority to control all substantial decisions
        of the trust or if it has a valid election in effect under applicable U.S.
        Treasury regulations to be treated as a United States person and (z) other
        than
        any other Person so designated by the Trustee based upon an Opinion of Counsel
        addressed to the Trustee (which shall not be an expense of the Trustee) that
        states that the Transfer of an Ownership Interest in a Residual Certificate
        to
        such Person may cause REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or
        REMIC
        VI to fail to qualify as a REMIC at any time that any Certificates are
        Outstanding. The terms “United States,” “State” and “International Organization”
shall have the meanings set forth in section 7701 of the Code or successor
        provisions. A corporation will not be treated as an instrumentality of the
        United States or of any State or political subdivision thereof for these
        purposes if all of its activities are subject to tax and, with the exception
        of
        Freddie Mac, a majority of its board of directors is not selected by such
        government unit.

       

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

       

      Prepayment
        Assumption:
        The
        applicable rate of prepayment as described in the Prospectus
        Supplement.

       

      Prepayment
        Charge:
        Any
        prepayment premium, penalty or charge payable by a Mortgagor in connection
        with
        any Principal Prepayment on a Mortgage Loan pursuant to the terms of the
        related
        Mortgage Note.

       

      Prepayment
        Charge Waiver Amount:
        Any
        amount paid by the Master Servicer to the Trustee in respect of waived
        Prepayment Charges pursuant to Section 4.01(a).

       

      Prepayment
        Interest Shortfall:
        With
        respect to any Distribution Date, for each Mortgage Loan that was the subject
        of
        a partial Principal Prepayment, a Principal Prepayment in full, or that became
        a
        Liquidated Loan during the related Prepayment Period, (other than a Principal
        Prepayment in full resulting from the purchase of a Mortgage Loan pursuant
        to
        Section 2.02, 2.03, 3.19 or 10.01 hereof), the amount, if any, by which (i)
        one
        month’s interest at the applicable Net Mortgage Rate on the Stated Principal
        Balance of such Mortgage Loan immediately prior to such prepayment (or
        liquidation) or in the case of a partial Principal Prepayment on the amount
        of
        such prepayment (or liquidation proceeds) exceeds (ii) the amount of interest
        paid or collected in connection with such Principal Prepayment or such
        liquidation proceeds less the sum of (a) the Trustee Fee, (b) the Servicing
        Fee
        and the LPMI Fee, if any, in each case with respect to the related Mortgage
        Loan.

       

      Prepayment
        Period:
        As to
        any Distribution Date, the period commencing on the 16th day of the month
        prior
        to the month in which the related Distribution Date occurs and ending on
        the
        15th day of the month in which such Distribution Date occurs.

       

      Primary
        Mortgage Insurance Policy:
        Any
        primary mortgage guaranty insurance policy issued in connection with a Mortgage
        Loan which provides compensation to a Mortgage Note Holder in the event of
        default by the obligor under such Mortgage Note or the related security
        instrument, if any or any replacement policy therefor through the related
        Accrual Period for such Class relating to a Distribution Date.

       

      Principal
        Distribution Amount:
        With
        respect to each Distribution Date, an amount equal to (x) the Principal Funds
        for such Distribution Date plus (y) any Extra Principal Distribution Amount
        for
        such Distribution Date, less (z) any Overcollateralization Release
        Amount.

       

      Principal
        Funds:
        With
        respect to each Loan Group and any Distribution Date, (i) the sum, without
        duplication, of (a) all scheduled principal collected during the related
        Due
        Period, (b) all Advances relating to principal made on or before the
        Distribution Account Deposit Date, (c) Principal Prepayments exclusive of
        Prepayment Charges or penalties collected during the related Prepayment Period,
        (d) the Stated Principal Balance of each Mortgage Loan in the related Loan
        Group
        that was repurchased by EMC on its own behalf as Seller and on behalf of
        Master
        Funding) pursuant to Sections 2.02 and 2.03 and by the Master Servicer pursuant
        to Section 3.19, (e) the aggregate of all Substitution Adjustment Amounts
        for
        the related Determination Date in connection with the substitution of Mortgage
        Loans pursuant to Section 2.03(c), (f) all Liquidation Proceeds and Subsequent
        Recoveries collected during the related Prepayment Period (to the extent
        such
        Liquidation Proceeds and Subsequent Recoveries relate to principal), in each
        case to the extent remitted by the Master Servicer to the Distribution Account
        pursuant to this Agreement and (g) amounts
        in respect of principal paid by the Majority Class CE Certificateholder or
        the
        Master Servicer, as applicable, pursuant to Section 10.01,
        minus
        (ii) all amounts required to be reimbursed pursuant to Sections 4.02 and
        4.05 or
        as otherwise set forth in this Agreement and (iii) any Net Swap Payments
        or Swap
        Termination Payments (not due to a Swap Provider Trigger Event and to the
        extent
        not paid by the Swap Administrator from any upfront payment received pursuant
        to
        any replacement interest rate swap agreement that may be entered into by
        the
        Supplemental Interest Trust Trustee) owed to the Swap Administrator for payment
        to the Swap Provider for such Distribution Date and any such payments remaining
        unpaid for any prior Distribution Dates to the extent not paid from Interest
        Funds.

       

      Principal
        Prepayment:
        Any
        Mortgagor payment or other recovery of (or proceeds with respect to) principal
        on a Mortgage Loan (including loans purchased or repurchased under Sections
        2.02, 2.03, 3.19 and 10.01 hereof) that is received in advance of its scheduled
        Due Date and is not accompanied by an amount as to interest representing
        scheduled interest due on any date or dates in any month or months subsequent
        to
        the month of prepayment. Partial Principal Prepayments shall be applied by
        the
        Master Servicer, as appropriate, in accordance with the terms of the related
        Mortgage Note.

       

      Principal
        Remittance Amount:
        With
        respect to each Distribution Date, the sum of the amounts listed in clauses
        (a)
        through (f) of the definition of Principal Funds.

       

      Private
        Certificates:
        Any of
        the Class M-10, Class M-11, Class P, Class CE and Residual
        Certificates.

       

      Prospectus
        Supplement:
        The
        Prospectus Supplement dated May 23, 2006 relating to the public offering
        of the
        Class I-A-1, Class I-A-2, Class I-A-3, Class II-A, Class M-1, Class M-2,
        Class
        M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9
        Certificates.

       

      Protected
        Account:
        The
        separate Eligible Account established and maintained by the Master Servicer
        with
        respect to the Mortgage Loans and REO Property in accordance with Section
        4.01
        hereof.

       

      PUD:
        A
        Planned Unit Development.

       

      Purchase
        Price:
        With
        respect to any Mortgage Loan (x) required to be repurchased by the Seller
        pursuant to Section 2.02 or 2.03 hereof or (y) that EMC has a right to purchase
        pursuant to Section 3.19 hereof, an amount equal to the sum of (i) 100% of
        the
        outstanding principal balance of the Mortgage Loan as of the date of such
        purchase (or if the related Mortgaged Property was acquired with respect
        thereto, 100% of the Outstanding Principal Balance at the date of the
        acquisition), plus (ii) accrued interest thereon at the applicable Mortgage
        Rate
        through the first day of the month in which the Purchase Price is to be
        distributed to Certificateholders, reduced by any portion of the Servicing
        Fee,
        Servicing Advances and Advances payable to the purchaser of the Mortgage
        Loan
        plus (iii) any costs and damages (if any) incurred by the Trust in connection
        with any violation of such Mortgage Loan of any anti-predatory lending
        laws.

       

      QIB:
        A
        Qualified Institutional Buyer as defined in Rule 144A promulgated under the
        Securities Act.

       

      Rating
        Agency:
        Each of
        Moody’s and S&P. If any such organization or its successor is no longer in
        existence, “Rating Agency” shall be a nationally recognized statistical rating
        organization, or other comparable Person, designated by the Depositor, notice
        of
        which designation shall be given to the Trustee. References herein to a given
        rating category of a Rating Agency shall mean such rating category without
        giving effect to any modifiers.

       

      Realized
        Loss:
        With
        respect to each Mortgage Loan as to which a Final Recovery Determination
        has
        been made, an amount (not less than zero) equal to (i) the unpaid principal
        balance of such Mortgage Loan as of the commencement of the calendar month
        in
        which the Final Recovery Determination was made, plus (ii) accrued interest
        from
        the Due Date as to which interest was last paid by the Mortgagor through
        the end
        of the calendar month in which such Final Recovery Determination was made,
        calculated in the case of each calendar month during such period (A) at an
        annual rate equal to the annual rate at which interest was then accruing
        on such
        Mortgage Loan and (B) on a principal amount equal to the Stated Principal
        Balance of such Mortgage Loan as of the close of business on the Distribution
        Date during such calendar month, minus (iii) the proceeds, if any, received
        in
        respect of such Mortgage Loan during the calendar month in which such Final
        Recovery Determination was made, net of amounts that are payable therefrom
        to
        the Master Servicer pursuant to this Agreement. In addition, to the extent
        the
        Master Servicer receives Subsequent Recoveries with respect to any Mortgage
        Loan, the amount of the Realized Loss with respect to that Mortgage Loan
        will be
        reduced to the extent such recoveries are distributed to any Class of
        Certificates or applied to increase Excess Spread on any Distribution
        Date.

       

      With
        respect to any REO Property as to which a Final Recovery Determination has
        been
        made, an amount (not less than zero) equal to (i) the unpaid principal balance
        of the related Mortgage Loan as of the date of acquisition of such REO Property
        on behalf of REMIC I, plus (ii) accrued interest from the Due Date as to
        which
        interest was last paid by the Mortgagor in respect of the related Mortgage
        Loan
        through the end of the calendar month immediately preceding the calendar
        month
        in which such REO Property was acquired, calculated in the case of each calendar
        month during such period (A) at an annual rate equal to the annual rate at
        which
        interest was then accruing on the related Mortgage Loan and (B) on a principal
        amount equal to the Stated Principal Balance of the related Mortgage Loan
        as of
        the close of business on the Distribution Date during such calendar month,
        plus
        (iii) 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 Final Recovery Determination
        was
        made, minus (iv) the aggregate of all unreimbursed Advances and Servicing
        Advances.

       

      With
        respect to each Mortgage Loan which has become the subject of a Deficient
        Valuation, the difference between the principal balance of the Mortgage Loan
        outstanding immediately prior to such Deficient Valuation and the principal
        balance of the Mortgage Loan as reduced by the Deficient Valuation.

       

      With
        respect to each Mortgage Loan which has become the subject of a Debt Service
        Reduction, the portion, if any, of the reduction in each affected Monthly
        Payment attributable to a reduction in the Mortgage Rate imposed by a court
        of
        competent jurisdiction. Each such Realized Loss shall be deemed to have been
        incurred on the Due Date for each affected Monthly Payment.

       

      Record
        Date:
        With
        respect to any Distribution Date and the Certificates (other than the Class
        CE,
        Class P and Residual Certificates), so long as such Classes of Certificates
        are
        Book-Entry Certificates, the Business Day preceding such Distribution Date,
        and
        otherwise, the close of business on the last Business Day of the month preceding
        the month in which such Distribution Date occurs. With respect to the Class
        CE,
        Class P and Residual Certificates, so long as such Classes of Certificates
        remain non Book-Entry Certificates, the close of business on the last Business
        Day of the month preceding the month in which such Distribution Date
        occurs.

       

      Reference
        Banks:
        Shall
        mean leading banks selected by the Trustee and engaged in transactions in
        Eurodollar deposits in the international Eurocurrency market (i) with an
        established place of business in London, (ii) which have been designated
        as such
        by the Trustee and (iii) which are not controlling, controlled by, or under
        common control with, the Depositor, the Seller or the Master
        Servicer.

       

      Reference
        Bank Rate:
        With
        respect to any Accrual Period shall mean the arithmetic mean, rounded upwards,
        if necessary, to the nearest whole multiple of 0.03125%, of the offered rates
        for United States dollar deposits for one month that are quoted by the Reference
        Banks as of 11:00 a.m., New York City time, on the related Interest
        Determination Date to prime banks in the London interbank market for a period
        of
        one month in an amount approximately equal to the aggregate Certificate
        Principal Balance of the Class A Certificates and Class M Certificates for
        such
        Accrual Period, provided that at least two such Reference Banks provide such
        rate. If fewer than two offered rates appear, the Reference Bank Rate will
        be
        the arithmetic mean, rounded upwards, if necessary, to the nearest whole
        multiple of 0.03125%, of the rates quoted by one or more major banks in New
        York
        City, selected by the Trustee, as of 11:00 a.m., New York City time, on such
        date for loans in United States dollars to leading European banks for a period
        of one month in amounts approximately equal to the aggregate Certificate
        Principal Balance of the Class A Certificates and Class M Certificates for
        such
        Accrual Period.

       

      Regular
        Certificate:
        Any
        Certificate other than a Residual Certificate.

       

      Regular
        Interest:
        A
“regular interest” in a REMIC within the meaning of Section 860G(a)(1) of the
        Code.

       

      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 clarification and interpretation 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.

       

      Relief
        Act:
        The
        Servicemembers Civil Relief Act, as amended, or similar state law.

       

      Relief
        Act Interest Shortfall:
        With
        respect to any Distribution Date and any Mortgage Loan, any reduction in
        the
        amount of interest collectible on such Mortgage Loan for the most recently
        ended
        Due Period as a result of the application of the Relief Act.

       

      Remaining
        Excess Spread:
        With
        respect to any Distribution Date, the Excess Spread less any Extra Principal
        Distribution Amount, in each case for such Distribution Date.

       

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

       

      REMIC
        I:
        The
        segregated pool of assets described in the Preliminary Statement and Section
        5.07(a).

       

      REMIC
        I Group I Regular Interests:
        REMIC I
        Regular I-1-A through REMIC I Regular Interest I-60-B as designated in the
        Preliminary Statement hereto.

       

      REMIC
        I Group II Regular Interests:
        REMIC I
        Regular Interest II-1-A through REMIC I Regular Interest II-60-B as designated
        in the Preliminary Statement hereto. 

       

      REMIC
        I Regular Interest:
        Any of
        the separate non-certificated beneficial ownership interests in REMIC I issued
        hereunder and designated as a Regular Interest in REMIC I. Each REMIC I Regular
        Interest shall accrue interest at the related Uncertificated REMIC I
        Pass-Through Rate in effect from time to time, and shall be entitled to
        distributions of principal, subject to the terms and conditions hereof, in
        an
        aggregate amount equal to its initial Uncertificated Principal Balance as
        set
        forth in the Preliminary Statement hereto. The designations for the respective
        REMIC I Regular Interests are set forth in the Preliminary Statement hereto.
        The
        REMIC I Regular Interests consist of the REMIC I Group I Regular Interests,
        REMIC I Group II Regular Interests and REMIC I Regular Interest P.

       

      REMIC
        II:
        The
        segregated pool of assets described in the Preliminary Statement and Section
        5.07(a).

       

      REMIC
        II Interest Loss Allocation Amount:
        With
        respect to any Distribution Date, an amount (subject to adjustment based
        on the
        actual number of days elapsed in the respective Accrual Period) equal to
        (a) the
        product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage
        Loans and REO Properties then outstanding and (ii) the Uncertificated REMIC
        II
        Pass-Through Rate for REMIC II Regular Interest AA minus the Marker Rate,
        divided by (b) 12.

       

      REMIC
        II Marker Allocation Percentage:
        50% of
        any amount payable or loss allocable from the Mortgage Loans, which shall
        be
        allocated to REMIC II Regular Interest AA, REMIC II Regular Interest ZZ,
        and
        each REMIC II Regular Interest for which a Class A Certificate or Class M
        Certificate is a Corresponding Certificate.

       

      REMIC
        II Overcollateralization Amount:
        With
        respect to any date of determination, (i) 0.50% of the aggregate Uncertificated
        Principal Balance of the REMIC II Regular Interests (other than REMIC II
        Regular
        Interest P) minus (ii) the aggregate Uncertificated Principal Balance of
        each
        REMIC II Regular Interest for which a Class A Certificate or Class M Certificate
        is a Corresponding Certificate, in each case, as of such date of
        determination.

       

      REMIC
        II Principal Loss Allocation Amount:
        With
        respect to any Distribution Date, an amount equal to the product of (i) 50%
        of
        the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties
        then outstanding and (ii) 1 minus a fraction, the numerator of which is two
        (2)
        times the aggregate Uncertificated Principal Balance of each REMIC II Regular
        Interest for which a Class A Certificate or Class M Certificate is a
        Corresponding Certificate and the denominator of which is the aggregate
        Uncertificated Principal Balance of each REMIC II Regular Interest for which
        a
        Class A Certificate or Class M Certificate is a Corresponding Certificate
        and
        REMIC II Regular Interest ZZ.

       

      REMIC
        II Sub WAC Allocation Percentage:
        50% of
        any amount payable or loss allocable from the Mortgage Loans, which shall
        be
        allocated to REMIC II Regular Interest 1-Sub, REMIC II Regular Interest 1-Grp,
        REMIC II Regular Interest 2-Sub, REMIC II Regular Interest 2-Grp and REMIC
        II
        Regular Interest XX.

       

      REMIC
        II Subordinated Balance Ratio:
        The
        ratio among the Uncertificated Principal Balances of each REMIC II Regular
        Interest ending with the designation “Sub”, equal to the ratio among, with
        respect to each such REMIC II Regular Interest, the excess of (x) the aggregate
        Stated Principal Balance of the Mortgage Loans in Loan Group I or the Mortgage
        Loans in Loan Group II, as applicable, over (y) the current Certificate
        Principal Balance of the related Class A Certificates.

       

      REMIC
        II Required Overcollateralization Amount:
        0.50%
        of the Overcollateralization Target Amount.

       

      REMIC
        II Regular Interest:
        Any of
        the separate non-certificated beneficial ownership interests in REMIC II
        issued
        hereunder and designated as a Regular Interest in REMIC II. Each REMIC II
        Regular Interest shall accrue interest at the related Uncertificated REMIC
        II
        Pass-Through Rate in effect from time to time, and (other than REMIC II Regular
        Interest IO) shall be entitled to distributions of principal, subject to
        the
        terms and conditions hereof, in an aggregate amount equal to its initial
        Uncertificated Principal Balance as set forth in the Preliminary Statement
        hereto. The designations for the respective REMIC II Regular Interests are
        set
        forth in the Preliminary Statement hereto.

       

      REMIC
        III:
        The
        segregated pool of assets described in the Preliminary Statement and Section
        5.07(a).

       

      REMIC
        III Regular Interest:
        The
        Class CE Interest, Class P Interest, Class IO Interest or any Regular Interest
        in REMIC III the ownership of which is represented by any of the Class A
        Certificates or Class M Certificates.

       

      REMIC
        IV:
        The
        segregated pool of assets consisting of the Class CE Interest conveyed in
        trust
        to the Trustee, for the benefit of the Holders of the Class CE Certificates
        and
        the Class RX Certificate (in respect of the Class R-4 Interest), with respect
        to
        which a separate REMIC election is to be made.

       

      REMIC
        IV Certificate:
        Any
        Class CE Certificate or Class RX Certificate (in respect of the Class R-4
        Interest).

       

      REMIC
        V:
        The
        segregated pool of assets consisting of the Class P Interest conveyed in
        trust
        to the Trustee, for the benefit of the Holders of the Class P Certificates
        and
        the Class RX Certificate (in respect of the Class R-5 Interest), with respect
        to
        which a separate REMIC election is to be made.

       

      REMIC
        V Certificate:
        Any
        Class P Certificate or Class RX Certificate (in respect of the Class R-5
        Interest).

       

      REMIC
        VI:
        The
        segregated pool of assets consisting of the Class IO Interest conveyed in
        trust
        to the Trustee, for the benefit of the holders of REMIC VI Regular Interest
        IO
        and the Class RX Certificate (in respect of the Class R-6 Interest), with
        respect to which a separate REMIC election is to be made.

       

      REMIC
        VI Interests:
        The
        REMIC VI Regular Interest IO or Class RX Certificate (in respect of the Class
        R-6 Interest).

       

      REMIC
        Opinion:
        Shall
        mean an Opinion of Counsel to the effect that the proposed action will not
        cause
        any of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI to fail
        to
        qualify as a REMIC at any time that any Certificates are
        outstanding.

       

      REMIC
        Provisions:
        Provisions of the federal income tax law relating to real estate mortgage
        investment conduits, which appear at Sections 860A through 860G of the Code,
        and
        related provisions, and proposed, temporary and final regulations and published
        rulings, notices and announcements promulgated thereunder, as the foregoing
        may
        be in effect from time to time, as well as provisions of applicable state
        laws.

       

      REMIC
        Regular Interests:
        The
        REMIC I Regular Interests and REMIC II Regular Interests.

       

      REMIC
        Termination Payment:
        As
        defined in Section 10.01.

       

      Remittance
        Date:
        Shall
        mean the Business Day immediately preceding the Distribution Account Deposit
        Date.

       

      Remittance
        Report:
        Shall
        mean a report to the Trustee in an electronic format (or by such other means
        as
        the Master Servicer and the Trustee may agree from time to time) containing
        such
        data and information, as agreed to by the Master Servicer and the Trustee
        such
        as to permit the Trustee to prepare the Monthly Statement to
        Certificateholders.

       

      REO
        Imputed Interest:
        As to
        any REO Property, for any calendar month during which such REO Property was
        at
        any time part of REMIC I, one month’s interest at the applicable Net Mortgage
        Rate on the Stated 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 Distribution Date in such calendar
        month.

       

      REO
        Property:
        A
        Mortgaged Property acquired by the Master Servicer through foreclosure or
        deed-in-lieu of foreclosure in connection with a defaulted Mortgage
        Loan.

       

      Replacement
        Mortgage Loan:
        A
        Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller
        for a
        Deleted Mortgage Loan, which must, on the date of such substitution, as
        confirmed in a Request for Release, (i) have a Stated Principal Balance,
        after
        deduction of the principal portion of the Scheduled Payment due in the month
        of
        substitution, not in excess of, and not less than 90% of, the Stated Principal
        Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan
        is a
        fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more
        than
        1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan;
        (iii)
        have the same or higher credit quality characteristics than that of the Deleted
        Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the
        Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than
        (and not more than one year less than) that of the Deleted Mortgage Loan;
        (vi)
        not permit conversion of the Mortgage Rate from a fixed rate to a variable
        rate;
        (vii) have the same lien priority as the Deleted Mortgage Loan; (viii)
        constitute the same occupancy type as the Deleted Mortgage Loan or be owner
        occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage
        Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate
        on
        the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable
        Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum
        Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage
        Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or
        greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the
        Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next
        Adjustment Date not more than two months later than the next Adjustment Date
        on
        the Deleted Mortgage Loan, (xiii) comply with each representation and warranty
        set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv)
        the
        Custodian has delivered a Final Certification noting no defects or
        exceptions.

       

      Reportable
        Event:
        As
        defined in Section 3.16(a)(iii).

       

      Request
        for Release:
        The
        Request for Release to be submitted by the Seller or the Master Servicer
        to the
        Custodian substantially in the form of Exhibit G. Each Request for Release
        furnished to the Custodian by the Seller or the Master Servicer shall be
        in
        duplicate and shall be executed by an officer of such Person or a Servicing
        Officer (or, if furnished electronically to the Custodian, shall be deemed
        to
        have been sent and executed by an officer of such Person or a Servicing Officer)
        of the Master Servicer.

       

      Required
        Insurance Policy:
        With
        respect to any Mortgage Loan, any insurance policy that is required to be
        maintained from time to time under this Agreement.

       

      Reserve
        Fund:
        Shall
        mean the separate trust account created and maintained by the Trustee pursuant
        to Section 3.21 hereof.

       

      Reserve
        Fund Deposit:
        With
        respect to the Reserve Fund, an amount equal to $5,000, which the Depositor
        shall initially deposit into the Reserve Fund pursuant to Section 3.21
        hereof.

       

      Residual
        Certificates:
        The
        Class R-1, Class R-2, Class R-3 and Class RX Certificates (representing
        ownership of the Class R-4 Interest, Class R-5 Interest and Class R-6 Interest),
        each evidencing the sole class of Residual Interests in the related
        REMIC.

       

      Residual
        Interest:
        The
        sole class of “residual interests” in a REMIC within the meaning of Section
        860G(a)(2) of the Code.

       

      Responsible
        Officer:
        With
        respect to the Trustee, any Vice President, any Assistant Vice President,
        the
        Secretary, any Assistant Secretary, or any Trust Officer with specific
        responsibility for the transactions contemplated hereby, any other officer
        customarily performing functions similar to those performed by any of the
        above
        designated officers or other officers of the Trustee specified by the Trustee,
        as to whom, with respect to a particular matter, such matter is referred
        because
        of such officer’s knowledge of and familiarity with the particular
        subject.

       

      S&P:
        Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and 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:
        As
        defined in Section 3.16(a)(iv).

       

      Scheduled
        Payment:
        The
        scheduled monthly payment on a Mortgage Loan due on any Due Date allocable
        to
        principal and/or interest on such Mortgage Loan.

       

      Securities
        Act:
        The
        Securities Act of 1933, as amended.

       

      Seller:
        EMC or
        Master Funding, in each case in its capacity as seller of the Mortgage Loans
        to
        the Depositor.

       

      Senior
        Certificates:
        Any of
        the Class I-A-1, Class I-A-2, Class I-A-3 and Class II-A
        Certificates.

       

      Servic(es)(ing):
        In
        accordance with Regulation AB, the act of servicing and administering the
        Mortgage Loans or any other assets of the Trust by an entity that meets the
        definition of “servicer’ set forth in Item 1101 of Regulation AB and is subject
        to the disclosure requirements set forth in 1108 of Regulation AB. For
        clarification purposes, any uncapitalized occurrence of this term shall have
        the
        meaning commonly understood by participants in the residential mortgage-backed
        securitization market.

       

      Servicing
        Advances:
        All
        customary, reasonable and necessary “out of pocket” costs and expenses
        (including reasonable legal fees) incurred in the performance by the Master
        Servicer of its servicing obligations hereunder, including, but not limited
        to,
        the cost of (i) the preservation, restoration and protection of a Mortgaged
        Property, (ii) any enforcement or judicial proceedings, including foreclosures,
        and including any expenses incurred in relation to any such proceedings that
        result from the Mortgage Loan being registered in the MERS® System, (iii) the
        management and liquidation of any REO Property (including, without limitation,
        realtor’s commissions) and (iv) compliance with any obligations under Section
        3.07 hereof to cause insurance to be maintained.

       

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

       

      Servicing
        Fee:
        As to
        each Mortgage Loan and any Distribution Date, an amount equal to 1/12th of
        the
        Servicing Fee Rate multiplied by the Stated Principal Balance of such Mortgage
        Loan as of the Due Date in the month preceding the month in which such
        Distribution Date occurs or, in the event of any payment of interest that
        accompanies a Principal Prepayment in full during the related Due Period
        made by
        the Mortgagor immediately prior to such prepayment, interest at the Servicing
        Fee Rate on the Stated Principal Balance of such Mortgage Loan for the period
        covered by such payment of interest.

       

      Servicing
        Fee Rate:
        0.500%
        per annum.

       

      Servicing
        Modification:
        With
        respect to any Mortgage Loan that is in default or, in the reasonable judgment
        of the Master Servicer, as to which default is reasonably foreseeable, any
        modification which is effected by the Master Servicer in accordance with
        the
        terms of this Agreement which results in any change in the outstanding Stated
        Principal Balance, any change in the Mortgage Rate or any extension of the
        term
        of such Mortgage Loan.

       

      Servicing
        Officer:
        Any
        officer of the Master Servicer involved in, or responsible for, the
        administration and servicing of the Mortgage Loans whose name and facsimile
        signature appear on a list of servicing officers furnished to the Trustee
        by the
        Master Servicer on the Closing Date pursuant to this Agreement, as such list
        may
        from time to time be amended.

       

      Significance
        Estimate:
        With
        respect to any Distribution Date, and in accordance with Item 1115 of Regulation
        AB, shall be an amount determined based on the reasonable good-faith estimate
        by
        the Seller or its affiliate of the aggregate maximum probable exposure of
        the
        outstanding Certificates to the Swap Agreement. 

       

      Significance
        Percentage:
        With
        respect to any Distribution Date, and in accordance with Item 1115 of Regulation
        AB, shall be an percentage equal to the Significance Estimate divided by
        the
        aggregate outstanding Certificate Principal Balance of the Class A Certificates
        and Class M Certificates, prior to the distribution of the Principal
        Distribution Amount on such Distribution Date.

       

      Sponsor:
        EMC
        Mortgage Corporation, in its capacity as sponsor hereunder.

       

      Startup
        Day:
        The
        Startup Day for each REMIC formed hereunder shall be the Closing
        Date.

       

      Stated
        Principal Balance:
        With
        respect to any Mortgage Loan or related REO Property and any Distribution
        Date,
        the Cut-off Date Principal Balance thereof minus the sum of (i) the principal
        portion of the Scheduled Payments due with respect to such Mortgage Loan
        during
        each Due Period ending prior to such Distribution Date (and irrespective
        of any
        delinquency in their payment), (ii) all Principal Prepayments with respect
        to
        such Mortgage Loan received prior to or during the related Prepayment Period,
        and all Liquidation Proceeds to the extent applied by the Master Servicer
        as
        recoveries of principal in accordance with Section 3.09 with respect to such
        Mortgage Loan, that were received by the Master Servicer as of the close
        of
        business on the last day of the Prepayment Period related to such Distribution
        Date and (iii) any Realized Losses on such Mortgage Loan incurred during
        the
        related Prepayment Period. The Stated Principal Balance of a Liquidated Loan
        equals zero.

       

      Stepdown
        Date:
        The
        later to occur of (a) the Distribution Date in June 2009 and (b) the first
        Distribution Date on which the Current Specified Enhancement Percentage is
        greater than or equal to 46.00%.

       

      Subordinated
        Certificates:
        The
        Class M Certificates, Class CE Certificates and Residual
        Certificates.

       

      Subsequent
        Recoveries:
        As of
        any Distribution Date, amounts received by the Master Servicer (net of any
        related expenses permitted to be reimbursed pursuant to Section 4.02) or
        surplus
        amounts held by the Master Servicer to cover estimated expenses (including,
        but
        not limited to, recoveries in respect of the representations and warranties
        made
        by the Seller pursuant to the Mortgage Loan Purchase Agreement) specifically
        related to a Mortgage Loan that was the subject of a liquidation or final
        disposition of any REO Property prior to the related Prepayment Period that
        resulted in a Realized Loss.

       

      Subservicing
        Agreement:
        Any
        agreement entered into between the Master Servicer and a subservicer with
        respect to the subservicing of any Mortgage Loan hereunder by such
        subservicer.

       

      Substitution
        Adjustment Amount:
        The
        meaning ascribed to such term pursuant to Section 2.03(c).

       

      Successor
        Master Servicer:
        The
        meaning ascribed to such term pursuant to Section 8.02.

       

      Supplemental
        Interest Trust:
        The
        corpus of a trust created pursuant to Section 3.21 of this Agreement and
        designated as the “Supplemental Interest Trust,” consisting of the Swap
        Agreement, the Swap Administration Agreement and the Swap Account. For the
        avoidance of doubt, the Supplemental Interest Trust, the Swap Agreement,
        the
        Swap Account and the Swap Administration Agreement do not constitute parts
        of
        the Trust Fund or any REMIC.

      

      Supplemental
        Interest Trust Trustee:
        LaSalle
        Bank National Association, a national banking association not in its individual
        capacity but solely in its capacity as supplemental interest trust trustee
        under
        the Supplemental Interest Trust and any successor thereto, and any corporation
        or national banking association resulting from or surviving any consolidation
        or
        merger to which it or its successors may be a party and any successor
        supplemental interest trust trustee as may from time to time be serving as
        successor supplemental interest trust trustee.

       

      Swap
        Account:
        The
        separate trust account created and maintained by the Swap Administrator,
        and
        held within the Supplemental Interest Trust, pursuant to the Swap Administration
        Agreement.

       

      Swap
        Administrator:
        LaSalle
        Bank National Association acting as Swap administrator under the Swap
        Administration Agreement.

       

      Swap
        Administration Agreement:
        The
        Swap Administration Agreement, dated May 30, 2006, pursuant to which the
        Swap
        Administrator will make payments to the Swap Provider and the Trust Fund,
        and
        certain other payments, as such agreement may be amended or supplemented
        from
        time to time.

       

      Swap
        Agreement:
        The
        interest rate swap agreement between the Swap Provider and Supplemental Interest
        Trust Trustee, which agreement provides for Net Swap Payments and Swap
        Termination Payments to be paid, as provided therein, together with any
        schedules, confirmations or other agreements relating thereto, attached hereto
        as Exhibit M.

       

      Swap
        LIBOR:
        For any
        such Distribution Date, a per annum rate equal to the Floating Rate Option
        (as
        defined in the Swap Agreement) for the related Calculation Period (as defined
        in
        the Swap Agreement).

       

      Swap
        Optional Termination Payment:
        As
        defined in Section 10.01.

       

      Swap
        Provider:
        The
        swap provider under the Swap Agreement either (a) entitled to receive payments
        from the Swap Administrator from amounts payable by the Trust Fund under
        this
        Agreement or (b) required to make payments to the Swap Administrator for
        payment
        to the Trust Fund as provided in the Swap Administration Agreement, in either
        case pursuant to the terms of the Swap Agreement, and any successor in interest
        or assign. Initially, the Swap Provider shall be Wachovia Bank,
        N.A.

       

      Swap
        Provider Trigger Event:
        With
        respect to any Distribution Date, (i) an Event of Default under the Swap
        Agreement with respect to which the Swap Provider is a Defaulting Party,
        (ii) a
        Termination Event under the Swap Agreement with respect to which the Swap
        Provider is the sole Affected Party, or (iii) an Additional Termination Event
        under the Swap Agreement with respect to which the Swap Provider is the sole
        Affected Party.

       

      Swap
        Termination Payment:
        Upon
        the designation of an “Early Termination Date” as defined in the Swap Agreement,
        the payment to be made by the Swap Administrator to the Swap Provider from
        payments from the Trust Fund, or by the Swap Provider to the Swap Administrator
        for payment to the Trust Fund, as applicable, pursuant to the terms of the
        Swap
        Agreement.

       

      Tax
        Matters Person:
        The
        person designated as “tax matters person” in the manner provided under Treasury
        Regulation Sections 1.860F-4(d) and 301.6231(a)(7)-1T. The Holder of the
        greatest Percentage Interest in a Class of Residual Certificates shall be
        the
        Tax Matters Person for the related REMIC. The Trustee, or any successor thereto
        or assignee thereof, shall serve as tax administrator hereunder and as agent
        for
        the related Tax Matters Person.

       

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

       

      Transfer
        Affidavit:
        As
        defined in Section 6.02.

       

      Trigger
        Event:
        With
        respect to any Distribution Date, a Trigger Event exists if (i) a Delinquency
        Event shall have occurred and be continuing or (ii) the aggregate amount
        of
        Realized Losses on the Mortgage Loans since the Cut-off Date as a percentage
        of
        the aggregate Cut-off Date Principal Balance of the Mortgage Loans exceeds
        the
        applicable percentages set forth below with respect to such Distribution
        Date:

       

      
        	
                Distribution
                  Date

              	
                Percentage

              
	 	 
	
                June
                  2009 through May 2010

              	
                3.30%
                  with respect to June 2009, plus an additional 1/12th of the difference
                  between 5.00% and 3.30% for each month thereafter 

              
	
                June
                  2010 through May 2011

              	
                5.00%
                  with respect to June 2010, plus an additional 1/12th
                  of
                  the difference between 6.00% and 5.00% for each month
                  thereafter

              
	
                June
                  2011 through May 2012

              	
                6.00%
                  with respect to June 2011, plus an additional 1/12th
                  of
                  the difference between 6.50% and 6.00% for each month
                  thereafter

              
	
                June
                  2012 and thereafter

              	
                6.50%

              

      

      

      Trust
        Fund:
        The
        corpus of the trust created hereunder consisting of (i) the Mortgage Loans
        and
        all interest accruing and principal due with respect thereto after the Cut-off
        Date to the extent not applied in computing the Cut-off Date Principal Balance
        thereof; (ii) the Distribution Account, the Class P Certificate Account,
        the
        Reserve Fund and the Protected Account and all amounts deposited therein
        pursuant to the applicable provisions of this Agreement; (iii) property that
        secured a Mortgage Loan and has been acquired by foreclosure, deed in lieu
        of
        foreclosure or otherwise; (iv) the mortgagee’s rights under the Insurance
        Policies with respect to the Mortgage Loans; (v) the rights under the Swap
        Administration Agreement relating to the Certificates; (vi) the rights under
        the
        Mortgage Loan Purchase Agreement; and (vii) all proceeds of the foregoing,
        including proceeds of conversion, voluntary or involuntary, of any of the
        foregoing into cash or other liquid property.

       

      Trustee:
        LaSalle
        Bank National Association, for the benefit of the Certificateholders under
        this
        Agreement, a national banking association and any successor thereto, and
        any
        corporation or national banking association resulting from or surviving any
        consolidation or merger to which it or its successors may be a party and
        any
        successor trustee as may from time to time be serving as successor trustee
        hereunder.

       

      Trustee
        Fee:
        As to
        each Mortgage Loan and any Distribution Date, a per annum fee equal to 0.0055%
        multiplied by the Stated Principal Balance of such Mortgage Loan as of the
        Due
        Date in the month preceding the month in which such Distribution Date
        occurs.

       

      Uncertificated
        Accrued Interest:
        With
        respect to each REMIC Regular Interest on each Distribution Date, an amount
        equal to one month’s interest at the related Uncertificated Pass-Through Rate on
        the related Uncertificated Principal Balance or related Uncertificated Notional
        Amount of such REMIC Regular Interest. In each case, Uncertificated Accrued
        Interest will be reduced by any Prepayment Interest Shortfalls and Relief
        Act
        Interest Shortfalls (allocated to such REMIC Regular Interests as set forth
        in
        Section 1.02).

       

      Uncertificated
        Notional Amount:
        With
        respect to the Class CE Interest and any Distribution Date, an amount equal
        to
        the aggregate Uncertificated Principal Balance of the REMIC II Regular Interests
        (other than REMIC II Regular Interest P) for such Distribution
        Date.

       

      With
        respect to REMIC II Regular Interest IO and each Distribution Date listed
        below,
        the aggregate Uncertificated Principal Balance of the REMIC I Regular Interests
        ending with the designation “A” listed below:

       

      
        	
                Distribution
                  Date

              	 	
                REMIC
                  I Regular Interests

              
	
                1

              	 	
                I-1-A
                  through I-60-A and II-1-A through II-60-A

              
	
                2

              	 	
                I-2-A
                  through I-60-A and II-2-A through II-60-A

              
	
                3

              	 	
                I-3-A
                  through I-60-A and II-3-A through II-60-A

              
	
                4

              	 	
                I-4-A
                  through I-60-A and II-4-A through II-60-A

              
	
                5

              	 	
                I-5-A
                  through I-60-A and II-5-A through II-60-A

              
	
                6

              	 	
                I-6-A
                  through I-60-A and II-6-A through II-60-A

              
	
                7

              	 	
                I-7-A
                  through I-60-A and II-7-A through II-60-A

              
	
                8

              	 	
                I-8-A
                  through I-60-A and II-8-A through II-60-A

              
	
                9

              	 	
                I-9-A
                  through I-60-A and II-9-A through II-60-A

              
	
                10

              	 	
                I-10-A
                  through I-60-A and II-10-A through II-60-A

              
	
                11

              	 	
                I-11-A
                  through I-60-A and II-11-A through II-60-A

              
	
                12

              	 	
                I-12-A
                  through I-60-A and II-12-A through II-60-A

              
	
                13

              	 	
                I-13-A
                  through I-60-A and II-13-A through II-60-A

              
	
                14

              	 	
                I-14-A
                  through I-60-A and II-14-A through II-60-A

              
	
                15

              	 	
                I-15-A
                  through I-60-A and II-15-A through II-60-A

              
	
                16

              	 	
                I-16-A
                  through I-60-A and II-16-A through II-60-A

              
	
                17

              	 	
                I-17-A
                  through I-60-A and II-17-A through II-60-A

              
	
                18

              	 	
                I-18-A
                  through I-60-A and II-18-A through II-60-A

              
	
                19

              	 	
                I-19-A
                  through I-60-A and II-19-A through II-60-A

              
	
                20

              	 	
                I-20-A
                  through I-60-A and II-20-A through II-60-A

              
	
                21

              	 	
                I-21-A
                  through I-60-A and II-21-A through II-60-A

              
	
                22

              	 	
                I-22-A
                  through I-60-A and II-22-A through II-60-A

              
	
                23

              	 	
                I-23-A
                  through I-60-A and II-23-A through II-60-A

              
	
                24

              	 	
                I-24-A
                  through I-60-A and II-24-A through II-60-A

              
	
                25

              	 	
                I-25-A
                  through I-60-A and II-25-A through II-60-A

              
	
                26

              	 	
                I-26-A
                  through I-60-A and II-26-A through II-60-A

              
	
                27

              	 	
                I-27-A
                  through I-60-A and II-27-A through II-60-A

              
	
                28

              	 	
                I-28-A
                  through I-60-A and II-28-A through II-60-A

              
	
                29

              	 	
                I-29-A
                  through I-60-A and II-29-A through II-60-A

              
	
                30

              	 	
                I-30-A
                  through I-60-A and II-30-A through II-60-A

              
	
                31

              	 	
                I-31-A
                  through I-60-A and II-31-A through II-60-A

              
	
                32

              	 	
                I-32-A
                  through I-60-A and II-32-A through II-60-A

              
	
                33

              	 	
                I-33-A
                  through I-60-A and II-33-A through II-60-A

              
	
                34

              	 	
                I-34-A
                  through I-60-A and II-34-A through II-60-A

              
	
                35

              	 	
                I-35-A
                  through I-60-A and II-35-A through II-60-A

              
	
                36

              	 	
                I-36-A
                  through I-60-A and II-36-A through II-60-A

              
	
                37

              	 	
                I-37-A
                  through I-60-A and II-37-A through II-60-A

              
	
                38

              	 	
                I-38-A
                  through I-60-A and II-38-A through II-60-A

              
	
                39

              	 	
                I-39-A
                  through I-60-A and II-39-A through II-60-A

              
	
                40

              	 	
                I-40-A
                  through I-60-A and II-40-A through II-60-A

              
	
                41

              	 	
                I-41-A
                  through I-60-A and II-41-A through II-60-A

              
	
                42

              	 	
                I-42-A
                  through I-60-A and II-42-A through II-60-A

              
	
                43

              	 	
                I-43-A
                  through I-60-A and II-43-A through II-60-A

              
	
                44

              	 	
                I-44-A
                  through I-60-A and II-44-A through II-60-A

              
	
                45

              	 	
                I-45-A
                  through I-60-A and II-45-A through II-60-A

              
	
                46

              	 	
                I-46-A
                  through I-60-A and II-46-A through II-60-A

              
	
                47

              	 	
                I-47-A
                  through I-60-A and II-47-A through II-60-A

              
	
                48

              	 	
                I-48-A
                  through I-60-A and II-48-A through II-60-A

              
	
                49

              	 	
                I-49-A
                  through I-60-A and II-49-A through II-60-A

              
	
                50

              	 	
                I-50-A
                  through I-60-A and II-50-A through II-60-A

              
	
                51

              	 	
                I-51-A
                  through I-60-A and II-51-A through II-60-A

              
	
                52

              	 	
                I-52-A
                  through I-60-A and II-52-A through II-60-A

              
	
                53

              	 	
                I-53-A
                  through I-60-A and II-53-A through II-60-A

              
	
                54

              	 	
                I-54-A
                  through I-60-A and II-54-A through II-60-A

              
	
                55

              	 	
                I-55-A
                  through I-60-A and II-55-A through II-60-A

              
	
                56

              	 	
                I-56-A
                  through I-60-A and II-56-A through II-60-A

              
	
                57

              	 	
                I-57-A
                  through I-60-A and II-57-A through II-60-A

              
	
                58

              	 	
                I-58-A
                  through I-60-A and II-58-A through II-60-A

              
	
                59

              	 	
                I-59-A
                  through I-60-A and II-59-A through II-60-A

              
	
                60

              	 	
                I-60-A
                  and II-60-A 

              
	
                thereafter

              	 	
                $0.00

              

      

      

      With
        respect to the Class IO Interest and any Distribution Date, an amount equal
        to
        the Uncertificated Notional Amount of the REMIC II Regular Interest IO. With
        respect to REMIC VI Regular Interest IO, an amount equal to the Uncertificated
        Notional Amount of the Class IO Interest.

       

      Uncertificated
        Pass-Through Rate:
        The
        Uncertificated REMIC I Pass-Through Rate and Uncertificated REMIC II
        Pass-Through Rate.

       

      Uncertificated
        Principal Balance:
        The
        amount of REMIC Regular Interests, Class P Interest and Class CE Interest
        outstanding as of any date of determination. As of the Closing Date, the
        Uncertificated Principal Balance of each REMIC Regular Interest, Class P
        Interest and Class CE Interest shall equal the amount set forth in the
        Preliminary Statement hereto as its initial uncertificated principal balance.
        On
        each Distribution Date, the Uncertificated Principal Balance of the REMIC
        Regular Interests and Class P Interest shall be reduced by all distributions
        of
        principal made on such REMIC Regular Interests and Class P Interest on such
        Distribution Date pursuant to Section 5.07 and, if and to the extent necessary
        and appropriate, shall be further reduced on such Distribution Date by Realized
        Losses as provided in Section 5.05, and the Uncertificated Principal Balance
        of
        REMIC II Regular Interest ZZ shall be increased by interest deferrals as
        provided in Section 5.07(c)(1)(ii). The Uncertificated Principal Balance
        of each
        REMIC Regular Interest, Class P Interest and Class CE Interest shall never
        be
        less than zero. With respect to the Class CE Interest as of any date of
        determination, an amount equal to the excess, if any, of (A) the then aggregate
        Uncertificated Principal Balance of the REMIC II Regular Interests over (B)
        the
        then aggregate Certificate Principal Balance of the Class A Certificates
        and the
        Class M Certificates and the Uncertificated Principal Balance of the Class
        P
        Interest then outstanding.

       

      Uncertificated
        REMIC I Pass-Through Rate:
        With
        respect to each REMIC I Group I Regular Interest ending with the designation
“A”
and any Distribution Date, a per annum rate equal to the weighted average
        Net
        Mortgage Rate of Loan Group I multiplied by 2, subject to a maximum rate
        of
        10.71460%. 

       

      With
        respect to each REMIC I Group I Regular Interest ending with the designation
“B”
and any Distribution Date, the greater of (x) a per annum rate equal to the
        excess, if any, of (1) 2 multiplied by the weighted average Net Mortgage
        Rate of
        Loan Group I over (2) 10.71460% and (y) 0.00% per annum. 

       

      With
        respect to each REMIC I Group II Regular Interest ending with the designation
        “A” and any Distribution Date, a per annum rate equal to the weighted average
        Net Mortgage Rate of Loan Group II multiplied by 2, subject to a maximum
        rate of
        10.71460%. 

       

      With
        respect to each REMIC I Group II Regular Interest ending with the designation
        “B” and any Distribution Date, the greater of (x) a per annum rate equal to the
        excess, if any, of (1) 2 multiplied by the weighted average Net Mortgage
        Rate of
        Loan Group II over (2) 10.71460% and (y) 0.00% per annum. 

       

      With
        respect to REMIC I Regular Interest P, 0.00%

       

      Uncertificated
        REMIC II Pass-Through Rate:
        With
        respect to REMIC II Regular Interest AA, each REMIC II Regular Interest for
        which a Class A Certificate or Class M Certificate is a Corresponding
        Certificate, REMIC II Regular Interest ZZ, REMIC II Regular Interest 1-Sub,
        REMIC II Regular Interest 2-Sub and REMIC II Regular Interest XX,
        and
        any
        Distribution Date, a
        per
        annum rate equal to the weighted average of (x) the Uncertificated REMIC
        I
        Pass-Through Rates for the REMIC I Regular Interests ending with the designation
        “B” for such Distribution Date, and (y) the rates listed below for the REMIC
        I
        Regular Interests ending with the designation “A” for such Distribution Date
        listed below,  in each case, weighted on the basis of the Uncertificated
        Principal Balances of each such REMIC I Regular Interest for such Distribution
        Date:

       

      
        	
                Distribution
                  Date

              	 	
                REMIC
                  I Regular Interest

              	 	
                Rate

              
	
                1

              	 	
                I-1-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                2

              	 	
                I-2-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-2-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                3

              	 	
                I-3-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-3-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-2-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-2-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                4

              	 	
                I-4-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-4-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-3-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-3-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                5

              	 	
                I-5-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-5-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-4-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-4-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                6

              	 	
                I-6-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-6-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-5-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-5-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                7

              	 	
                I-7-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-7-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-6-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-6-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                8

              	 	
                I-8-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-8-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-7-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-7-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                9

              	 	
                I-9-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-9-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-8-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-8-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                10

              	 	
                I-10-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-10-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-9-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-9-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                11

              	 	
                I-11-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-11-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-10-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-10-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                12

              	 	
                I-12-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-12-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-11-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-11-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                13

              	 	
                I-13-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-13-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-12-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-12-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                14

              	 	
                I-14-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-14-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-13-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-13-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                15

              	 	
                I-15-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-15-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-14-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-14-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                16

              	 	
                I-16-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-16-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-15-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-15-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                17

              	 	
                I-17-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-17-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-16-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-16-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                18

              	 	
                I-18-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-18-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-17-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-17-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                19

              	 	
                I-19-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-19-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-18-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-18-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                20

              	 	
                I-20-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-20-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-19-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-19-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                21

              	 	
                I-21-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-21-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-20-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-20-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                22

              	 	
                I-22-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-22-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-21-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-21-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                23

              	 	
                I-23-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-23-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-22-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-22-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                24

              	 	
                I-24-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-24-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-23-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-23-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                25

              	 	
                I-25-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-25-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-24-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-24-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                26

              	 	
                I-26-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-26-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-25-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-25-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                27

              	 	
                I-27-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-27-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-26-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-26-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                28

              	 	
                I-28-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-28-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-27-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-27-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                29

              	 	
                I-29-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-29-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-28-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-28-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                30

              	 	
                I-30-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-30-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-29-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-29-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                31

              	 	
                I-31-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-31-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-30-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-30-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                32

              	 	
                I-32-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-32-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-31-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-31-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                33

              	 	
                I-33-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-33-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-32-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-32-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                34

              	 	
                I-34-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-34-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-33-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-33-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                35

              	 	
                I-35-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-35-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-34-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-34-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                36

              	 	
                I-36-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-36-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-35-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-35-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                37

              	 	
                I-37-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-37-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-36-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-36-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                38

              	 	
                I-38-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-38-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-37-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-37-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                39

              	 	
                I-39-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-39-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-38-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-38-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                40

              	 	
                I-40-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-40-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-39-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-39-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                41

              	 	
                I-41-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-41-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-40-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-40-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                42

              	 	
                I-42-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-42-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-41-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-41-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                43

              	 	
                I-43-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-43-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate 

              
	 	 	
                I-1-A
                  through I-42-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-42-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                44

              	 	
                I-44-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-44-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-43-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-43-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                45

              	 	
                I-45-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-45-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-44-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-44-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                46

              	 	
                I-46-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-46-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-45-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-45-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                47

              	 	
                I-47-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-47-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-46-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-46-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                48

              	 	
                I-48-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-48-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-47-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-47-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                49

              	 	
                I-49-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-49-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-48-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-48-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                50

              	 	
                I-50-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-50-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-49-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-49-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                51

              	 	
                I-51-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-51-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-50-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-50-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                52

              	 	
                I-52-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-52-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-51-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-51-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                53

              	 	
                I-53-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-53-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-52-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-52-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                54

              	 	
                I-54-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-54-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-53-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-53-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                55

              	 	
                I-55-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-55-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-54-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-54-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                56

              	 	
                I-56-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-56-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-55-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-55-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                57

              	 	
                I-57-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-57-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-56-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-56-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                58

              	 	
                I-58-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-58-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-57-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-57-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                59

              	 	
                I-59-A
                  and I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-59-A
                  and II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-58-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-58-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                60

              	 	
                I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-59-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-59-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                thereafter

              	 	
                I-1-A
                  through I-60-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-60-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              

      

      

      With
        respect to REMIC II Regular Interest 1-Grp and any Distribution Date, a per
        annum rate equal to the weighted average of (x) the Uncertificated REMIC
        I
        Pass-Through Rates for the REMIC I Group I Regular Interests ending with
        the
        designation “B” for such Distribution Date and (y) the rates listed below for
        the REMIC I Group I Regular Interests ending with the designation “A” for such
        Distribution Date listed below, in each case, weighted on the basis of the
        Uncertificated Principal Balances of each such REMIC I Regular Interest for
        such
        Distribution Date:

       

      
        	
                Distribution
                  Date

              	 	
                REMIC
                  I Regular Interest

              	 	
                Rate

              
	
                1

              	 	
                I-1-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                2

              	 	
                I-2-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                3

              	 	
                I-3-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-2-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                4

              	 	
                I-4-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-3-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                5

              	 	
                I-5-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-4-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                6

              	 	
                I-1-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-5-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                7

              	 	
                I-7-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-6-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                8

              	 	
                I-8-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-7-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                9

              	 	
                I-9-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-8-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                10

              	 	
                I-10-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-9-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                11

              	 	
                I-11-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-10-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                12

              	 	
                I-12-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-11-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                13

              	 	
                I-13-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-12-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                14

              	 	
                I-14-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-13-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                15

              	 	
                I-15-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-14-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                16

              	 	
                I-16-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-15-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                17

              	 	
                I-17-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-16-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                18

              	 	
                I-18-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-17-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                19

              	 	
                I-19-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-18-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                20

              	 	
                I-20-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-19-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                21

              	 	
                I-21-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-20-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                22

              	 	
                I-22-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-21-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                23

              	 	
                I-23-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-22-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                24

              	 	
                I-24-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-23-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                25

              	 	
                I-25-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-24-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                26

              	 	
                I-26-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-25-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                27

              	 	
                I-27-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-26-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                28

              	 	
                I-28-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-27-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                29

              	 	
                I-29-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-28-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                30

              	 	
                I-30-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-29-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                31

              	 	
                I-31-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-30-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                32

              	 	
                I-32-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-31-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                33

              	 	
                I-33-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-32-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                34

              	 	
                I-34-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-33-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                35

              	 	
                I-35-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-34-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                36

              	 	
                I-36-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-35-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                37

              	 	
                I-37-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-36-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                38

              	 	
                I-38-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-37-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                39

              	 	
                I-39-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-38-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                40

              	 	
                I-40-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-39-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                41

              	 	
                I-41-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-40-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                42

              	 	
                I-42-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-41-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                43

              	 	
                I-43-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-42-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                44

              	 	
                I-44-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-43-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                45

              	 	
                I-45-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-44-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                46

              	 	
                I-46-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-45-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                47

              	 	
                I-47-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-46-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                48

              	 	
                I-48-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-47-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                49

              	 	
                I-49-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-48-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                50

              	 	
                I-50-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-49-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                51

              	 	
                I-51-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-50-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                52

              	 	
                I-52-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-51-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                53

              	 	
                I-53-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-52-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                54

              	 	
                I-54-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-53-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                55

              	 	
                I-55-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-54-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                56

              	 	
                I-56-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-55-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                57

              	 	
                I-57-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-56-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                58

              	 	
                I-58-A
                  through I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-57-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                59

              	 	
                I-59-A
                  and I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-58-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                60

              	 	
                I-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                I-1-A
                  through I-59-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                thereafter

              	 	
                I-1-A
                  through I-60-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              

      

      

      With
        respect to REMIC II Regular Interest 2-Grp and any Distribution Date, a per
        annum rate equal to the weighted average of (x) the Uncertificated REMIC
        I
        Pass-Through Rates for the REMIC I Group II Regular Interests ending with
        the
        designation “B” for such Distribution Date and (y) the rates listed below for
        the REMIC I Group II Regular Interests ending with the designation “A” for such
        Distribution Date listed below, in each case, weighted on the basis of the
        Uncertificated Principal Balances of each such REMIC I Regular Interest for
        such
        Distribution Date:

       

      
        	
                Distribution
                  Date

              	 	
                REMIC
                  I Regular Interest

              	 	
                Rate

              
	
                1

              	 	
                II-1-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                2

              	 	
                II-2-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                3

              	 	
                II-3-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-2-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                4

              	 	
                II-4-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-3-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                5

              	 	
                II-5-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-4-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                6

              	 	
                II-1-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-5-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                7

              	 	
                II-7-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-6-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                8

              	 	
                II-8-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-7-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                9

              	 	
                II-9-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-8-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                10

              	 	
                II-10-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-9-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                11

              	 	
                II-11-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-10-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                12

              	 	
                II-12-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-11-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                13

              	 	
                II-13-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-12-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                14

              	 	
                II-14-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-13-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                15

              	 	
                II-15-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-14-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                16

              	 	
                II-16-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-15-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                17

              	 	
                II-17-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-16-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                18

              	 	
                II-18-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-17-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                19

              	 	
                II-19-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-18-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                20

              	 	
                II-20-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-19-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                21

              	 	
                II-21-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-20-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                22

              	 	
                II-22-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-21-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                23

              	 	
                II-23-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-22-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                24

              	 	
                II-24-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-23-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                25

              	 	
                II-25-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-24-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                26

              	 	
                II-26-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-25-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                27

              	 	
                II-27-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-26-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                28

              	 	
                II-28-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-27-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                29

              	 	
                II-29-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-28-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                30

              	 	
                II-30-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-29-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                31

              	 	
                II-31-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-30-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                32

              	 	
                II-32-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-31-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                33

              	 	
                II-33-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-32-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                34

              	 	
                II-34-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-33-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                35

              	 	
                II-35-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-34-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                36

              	 	
                II-36-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-35-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                37

              	 	
                II-37-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-36-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                38

              	 	
                II-38-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-37-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                39

              	 	
                II-39-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-38-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                40

              	 	
                II-40-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-39-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                41

              	 	
                II-41-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-40-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                42

              	 	
                II-42-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-41-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                43

              	 	
                II-43-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-42-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                44

              	 	
                II-44-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-43-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                45

              	 	
                II-45-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-44-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                46

              	 	
                II-46-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-45-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                47

              	 	
                II-47-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-46-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                48

              	 	
                II-48-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-47-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                49

              	 	
                II-49-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-48-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                50

              	 	
                II-50-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-49-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                51

              	 	
                II-51-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-50-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                52

              	 	
                II-52-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-51-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                53

              	 	
                II-53-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-52-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                54

              	 	
                II-54-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-53-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                55

              	 	
                II-55-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-54-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                56

              	 	
                II-56-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-55-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                57

              	 	
                II-57-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-56-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                58

              	 	
                II-58-A
                  through II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-57-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                59

              	 	
                II-59-A
                  and II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-58-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                60

              	 	
                II-60-A

              	 	
                2
                  multiplied by Swap LIBOR, subject to a maximum rate of Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	
                II-1-A
                  through II-59-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              
	 	 	 	 	 
	
                thereafter

              	 	
                II-1-A
                  through II-60-A

              	 	
                Uncertificated
                  REMIC I Pass-Through Rate

              

      

      

      With
        respect to REMIC II Regular Interest IO and any Distribution Date, a per
        annum
        rate equal to the excess, if any, of (x) the weighted average of the
        Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests
        ending with the designation “A” for such Distribution Date, over (y) 2
        multiplied by Swap LIBOR. 

       

      With
        respect to REMIC II Regular Interest P, 0.00%.

       

      Unpaid
        Realized Loss Amount:
        With
        respect to any Class A Certificates and as to any Distribution Date, is the
        excess of Applied Realized Loss Amounts with respect to such Class over the
        sum
        of all distributions in reduction of the Applied Realized Loss Amounts on
        all
        previous Distribution Dates. Any amounts distributed to the Class A Certificates
        in respect of any Unpaid Realized Loss Amount shall not be applied to reduce
        the
        Certificate Principal Balance of such Class.

       

      Voting
        Rights:
        The
        portion of the voting rights of all the Certificates that is allocated to
        any
        Certificate for purposes of the voting provisions hereunder. Voting Rights
        shall
        be allocated (i) 92% to the Class A Certificates and Class M Certificates,
        (ii)
        3% to the Class CE Certificates until paid in full, and (iii) 1% to each
        of the
        Class R-1, Class R-2, Class R-3, Class RX and Class P Certificates, with
        the
        allocation among the Certificates (other than the Class CE, Class P and Residual
        Certificates) to be in proportion to the Certificate Principal Balance of
        each
        Class relative to the Certificate Principal Balance of all other such Classes.
        Voting Rights will be allocated among the Certificates of each such Class
        in
        accordance with their respective Percentage Interests.

       

      Section
        1.02 Allocation
        of Certain Interest Shortfalls. 

       

      For
        purposes of calculating the amount of Current Interest for the Class A, Class
        M
        and Class CE Certificates for any Distribution Date, the aggregate amount
        of any
        Prepayment Interest Shortfalls (to the extent not covered by payments by
        the
        Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls
        incurred in respect of the Mortgage Loans for any Distribution Date shall
        be
        allocated first, to the Class CE Interest based on, and to the extent of,
        one
        month’s interest at the then applicable respective Pass-Through Rate on the
        Uncertificated Notional Amount thereof and, thereafter, among the Class A
        Certificates and Class M Certificates, in each case on a pro
        rata
        basis
        based on, and to the extent of, one month’s interest at the then applicable
        respective Pass-Through Rates on the respective Certificate Principal Balances
        of each such Certificate.

       

      For
        purposes of calculating the amount of Uncertificated Accrued Interest for
        the
        REMIC I Regular Interests for any Distribution Date:

       

      (a) For
        purposes of calculating the amount of Uncertificated Accrued Interest for
        the
        REMIC I Group I Regular Interests for any Distribution Date, the aggregate
        amount of any Prepayment Interest Shortfalls (to the extent not covered by
        payments by the Master Servicer pursuant to Section 5.02) and any Relief
        Act
        Interest Shortfalls incurred in respect of Loan Group I shall be allocated
        first, to REMIC I Group I Regular Interests ending with the designation “B”,
pro
        rata,
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated
        Principal Balances of each such REMIC I Regular Interest, and then, to REMIC
        I
        Group I Regular Interests ending with the designation “A”, pro
        rata,
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated
        Principal Balances of each such REMIC I Regular Interest. For purposes of
        calculating the amount of Uncertificated Accrued Interest for the REMIC I
        Group
        II Regular Interests for any Distribution Date, the aggregate amount of any
        Prepayment Interest Shortfalls (to the extent not covered by payments by
        the
        Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls
        incurred in respect of Loan Group II shall be allocated first, to REMIC I
        Group
        II Regular Interests ending with the designation “B”, pro
        rata,
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated
        Principal Balances of each such REMIC I Regular Interest, and then, to REMIC
        I
        Group II Regular Interests ending with the designation “A”, pro
        rata,
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated
        Principal Balances of each such REMIC I Regular Interest.

       

      (b) The
        REMIC
        II Marker Allocation Percentage of the aggregate amount of any Prepayment
        Interest Shortfalls (to the extent not covered by payments by the Master
        Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls
        incurred in respect of the Mortgage Loans for any Distribution Date shall
        be
        allocated first, to Uncertificated Accrued Interest payable to REMIC II Regular
        Interest AA and REMIC II Regular Interest ZZ up to an aggregate amount equal
        to
        the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and
        thereafter among REMIC II Regular Interest AA, each REMIC II Regular Interest
        for which a Class A Certificate or Class M Certificate is the Corresponding
        Certificate and REMIC II Regular Interest ZZ, pro
        rata,
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated
        Principal Balances of each such REMIC II Regular Interest.

       

      (c) The
        REMIC
        II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment
        Interest Shortfalls (to the extent not covered by payments by the Master
        Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls
        incurred in respect of the Mortgage Loans for any Distribution Date shall
        be
        allocated to Uncertificated Accrued Interest payable to REMIC II Regular
        Interest 1-Sub, REMIC II Regular Interest 1-Grp, REMIC II Regular Interest
        2-Sub, REMIC II Regular Interest 2-Grp and REMIC II Regular Interest XX,
        pro
        rata,
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated
        Principal Balances of each such REMIC II Regular Interest.

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      ARTICLE
        II

      CONVEYANCE
        OF TRUST FUND

       

      Section
        2.01 Conveyance
        of Trust Fund. 

       

      Pursuant
        to the Mortgage Loan Purchase Agreement, the Seller sold, transferred, assigned,
        set over and otherwise conveyed to the Depositor, without recourse, all the
        right, title and interest of such Seller in and to the assets sold by it
        in the
        Trust Fund. Pursuant to the Mortgage Loan Purchase Agreement, Master Funding
        sold, transferred, assigned, set over and otherwise conveyed to the Depositor,
        without recourse, all the right, title and interest of Master Funding in
        and to
        the assets sold by it in the Trust Fund.

       

      The
        Seller has entered into this Agreement in consideration for the purchase
        of the
        Mortgage Loans by the Depositor pursuant to the Mortgage Loan Purchase Agreement
        and has agreed to take the actions specified herein.

       

      The
        Depositor, concurrently with the execution and delivery hereof, hereby sells,
        transfers, assigns, sets over and otherwise conveys to the Trustee for the
        use
        and benefit of the Certificateholders, without recourse, all the right, title
        and interest of the Depositor in and to the Trust Fund. 

       

      In
        connection with such sale, the Depositor has delivered to, and deposited
        with,
        the Trustee or the Custodian, as its agent, the following documents or
        instruments with respect to each Mortgage Loan so assigned: (i) the original
        Mortgage Note, including any riders thereto, endorsed without recourse (A)
        in
        blank or to the order of “LaSalle Bank National Association, as Trustee for
        Certificateholders of Bear Stearns Asset Backed Securities I LLC, Asset-Backed
        Certificates, Series 2006-HE5,” or (B) in the case of a loan registered on the
        MERS system, in blank, and in each case showing an unbroken chain of
        endorsements from the original payee thereof to the Person endorsing it to
        the
        Trustee, (ii) the original Mortgage and, if the related Mortgage Loan is
        a MOM
        Loan, noting the presence of the MIN and language indicating that such Mortgage
        Loan is a MOM Loan, which shall have been recorded (or if the original is
        not
        available, a copy), with evidence of such recording indicated thereon (or
        if
        clause (x) in the proviso below applies, shall be in recordable form), (iii)
        unless the Mortgage Loan is a MOM Loan, the assignment (either an original
        or a
        copy, which may be in the form of a blanket assignment if permitted in the
        jurisdiction in which the Mortgaged Property is located) to the Trustee of
        the
        Mortgage with respect to each Mortgage Loan in the name of “LaSalle Bank
        National Association, as Trustee for Certificateholders of Bear Stearns Asset
        Backed Securities I LLC, Asset Backed-Certificates, Series 2006-HE5,” which
        shall have been recorded (or if clause (x) in the proviso below applies,
        shall
        be in recordable form), (iv) an original or a copy of all intervening
        assignments of the Mortgage, if any, to the extent available to the Seller,
        with
        evidence of recording thereon, (v) the original policy of title insurance
        or
        mortgagee’s certificate of title insurance or commitment or binder for title
        insurance, if available, or a copy thereof, or, in the event that such original
        title insurance policy is unavailable, a photocopy thereof, or in lieu thereof,
        a current lien search on the related Mortgaged Property and (vi) originals
        or
        copies of all available assumption, modification or substitution agreements,
        if
        any; provided, however, that in lieu of the foregoing, the Seller or Master
        Funding, as applicable, may deliver the following documents, under the
        circumstances set forth below: (x) if any Mortgage, assignment thereof to
        the
        Trustee or intervening assignments thereof have been delivered or are being
        delivered to recording offices for recording and have not been returned in
        time
        to permit their delivery as specified above, the Depositor may deliver a
        true
        copy thereof with a certification by the Seller or Master Funding, as
        applicable, or the title company issuing the commitment for title insurance,
        on
        the face of such copy, substantially as follows: “Certified to be a true and
        correct copy of the original, which has been transmitted for recording”; and (y)
        in lieu of the Mortgage Notes relating to the Mortgage Loans identified in
        the
        list set forth in Exhibit I, the Depositor may deliver a lost note affidavit
        and
        indemnity and a copy of the original note, if available; and provided, further,
        however, that in the case of Mortgage Loans which have been prepaid in full
        after the Cut-Off Date and prior to the Closing Date, the Depositor, in lieu
        of
        delivering the above documents, may deliver to the Trustee and the Custodian
        a
        certification of a Servicing Officer to such effect and in such case shall
        deposit all amounts paid in respect of such Mortgage Loans, in the Protected
        Account or in the Distribution Account on the Closing Date. In the case of
        the
        documents referred to in clause (x) above, the Depositor shall deliver such
        documents to the Trustee or the Custodian promptly after they are
        received.

       

      EMC
        (on
        its own behalf as Seller and on behalf of Master Funding) shall cause, at
        its
        expense, the Mortgage and intervening assignments, if any, and to the extent
        required in accordance with the foregoing, the assignment of the Mortgage
        to the
        Trustee to be submitted for recording promptly after the Closing Date; provided
        that, the Seller need not cause to be recorded (a) any assignment in any
        jurisdiction under the laws of which, as evidenced by an Opinion of Counsel
        addressed to the Trustee delivered by EMC (on its own behalf as Seller and
        on
        behalf of Master Funding) to the Trustee and the Rating Agencies, the
        recordation of such assignment is not necessary to protect the Trustee’s
        interest in the related Mortgage Loan or (b) if MERS is identified on the
        Mortgage or on a properly recorded assignment of the Mortgage as the mortgagee
        of record solely as nominee for the Seller and Master Funding and its successors
        and assigns. In the event that the Seller, Master Funding, the Depositor
        or the
        Master Servicer gives written notice to the Trustee that a court has
        recharacterized the sale of the Mortgage Loans as a financing, EMC (on its
        own
        behalf as Seller and on behalf of Master Funding) shall submit or cause to
        be
        submitted for recording as specified above each such previously unrecorded
        assignment to be submitted for recording as specified above at the expense
        of
        the Trust. In the event a Mortgage File is released to the Master Servicer
        as a
        result of such Person having completed a Request for Release, the Custodian
        shall, if not so completed, complete the assignment of the related Mortgage
        in
        the manner specified in clause (iii) above.

       

      In
        connection with the assignment of any Mortgage Loan registered on the MERS®
System, EMC (on its own behalf as Seller and on behalf of Master Funding)
        further agrees that it will cause, at the Seller’s own expense, within 30 days
        after the Closing Date, the MERS® System to indicate that such Mortgage Loans
        have been assigned by EMC (on its own behalf as Seller and on behalf of Master
        Funding) to the Depositor and by the Depositor to the Trustee in accordance
        with
        this Agreement for the benefit of the Certificateholders by including (or
        deleting, in the case of Mortgage Loans which are repurchased in accordance
        with
        this Agreement) in such computer files (a) the code in the field which
        identifies the specific Trustee and (b) the code in the field “Pool Field” which
        identifies the series of the Certificates issued in connection with such
        Mortgage Loans. EMC (on its own behalf as Seller and on behalf of Master
        Funding) further agrees that it will not, and will not permit the Master
        Servicer to, and the Master Servicer agrees that it will not, alter the codes
        referenced in this paragraph with respect to any Mortgage Loan during the
        term
        of this Agreement unless and until such Mortgage Loan is repurchased in
        accordance with the terms of this Agreement or the Mortgage Loan Purchase
        Agreement.

       

      Section
        2.02 Acceptance
        of the Mortgage Loans. 

       

      (a) Based
        on
        the Initial Certification received by it from the Custodian, the Trustee
        acknowledges receipt of, subject to the further review and exceptions reported
        by the Custodian pursuant to the procedures described below, the documents
        (or
        certified copies thereof) delivered to the Trustee or the Custodian on its
        behalf pursuant to Section 2.01 and declares that it holds and will continue
        to
        hold directly or through a custodian those documents and any amendments,
        replacements or supplements thereto and all other assets of the Trust Fund
        delivered to it in trust for the use and benefit of all present and future
        Holders of the Certificates. On the Closing Date, the Trustee or the Custodian
        on its behalf will deliver an Initial Certification, in the form of Exhibit
        One
        to the Custodial Agreement, confirming whether or not it has received the
        Mortgage File for each Mortgage Loan, but without review of such Mortgage
        File,
        except to the extent necessary to confirm whether such Mortgage File contains
        the original Mortgage Note or a lost note affidavit and indemnity in lieu
        thereof. No later than 90 days after the Closing Date, the Trustee or the
        Custodian on its behalf shall, for the benefit of the Certificateholders,
        review
        each Mortgage File delivered to it and execute and deliver to EMC (on its
        own
        behalf and on behalf of Master Funding) and the Master Servicer and, if reviewed
        by the Custodian or the Trustee, an Interim Certifications, substantially
        in the
        form of Exhibit Two to the Custodial Agreement. In conducting such review,
        the
        Trustee or the Custodian on its behalf will ascertain whether all required
        documents have been executed and received and whether those documents relate,
        determined on the basis of the Mortgagor name, original principal balance
        and
        loan number, to the Mortgage Loans identified in Exhibit B to this Agreement,
        as
        supplemented (provided, however, that with respect to those documents described
        in subclauses (iv) and (vi) of Section 2.01, such obligations shall extend
        only
        to documents actually delivered pursuant to such subclauses). In performing
        any
        such review, the Trustee and the Custodian may conclusively rely on the
        purported due execution and genuineness of any such document and on the
        purported genuineness of any signature thereon. If the Trustee or the Custodian
        on its behalf finds any document constituting part of the Mortgage File not
        to
        have been executed or received, or to be unrelated to the Mortgage Loans
        identified in Exhibit B or to appear to be defective on its face, the Trustee
        or
        the Custodian on its behalf shall include such information in the exception
        report attached to the Interim Certification. EMC
        (on
        its own behalf as Seller and on behalf of Master Funding)
        shall
        correct or cure any such defect or, if prior to the end of the second
        anniversary of the Closing Date, EMC (on its own behalf as Seller and on
        behalf
        of Master Funding) may substitute for the related Mortgage Loan a Replacement
        Mortgage Loan, which substitution shall be accomplished in the manner and
        subject to the conditions set forth in Section 2.03 or shall deliver to the
        Trustee an Opinion of Counsel addressed to the Trustee to the effect that
        such
        defect does not materially or adversely affect the interests of the
        Certificateholders in such Mortgage Loan within 60 days from the date of
        notice
        from the Trustee of the defect and if EMC (on its own behalf as Seller and
        on
        behalf of Master Funding) fails to correct or cure the defect or deliver
        such
        opinion within such period, EMC (on its own behalf as Seller and on behalf
        of
        Master Funding) will, subject to Section 2.03, within 90 days from the
        notification of the Trustee purchase such Mortgage Loan at the Purchase Price;
        provided, however, that if such defect relates solely to the inability of
        EMC
        (on its own behalf as Seller and on behalf of Master Funding) to deliver
        the
        Mortgage, assignment thereof to the Trustee, or intervening assignments thereof
        with evidence of recording thereon because such documents have been submitted
        for recording and have not been returned by the applicable jurisdiction,
        EMC (on
        its own behalf as Seller and on behalf of Master Funding) shall not be required
        to purchase such Mortgage Loan if the Seller delivers such documents promptly
        upon receipt, but in no event later than 360 days after the Closing
        Date.

       

      (b) No
        later
        than 180 days after the Closing Date, the Trustee or the Custodian on its
        behalf
        will review, for the benefit of the Certificateholders, the Mortgage Files
        and
        will execute and deliver or cause to be executed and delivered to EMC (on
        its
        own behalf as Seller and on behalf of Master Funding) and the Master Servicer
        and, if reviewed by the Custodian or the Trustee, a Final Certification,
        substantially in the form of Exhibit Three to the Custodial Agreement. In
        conducting such review, the Trustee or the Custodian on its behalf will
        ascertain whether each document required to be recorded has been returned
        from
        the recording office with evidence of recording thereon and the Trustee or
        the
        Custodian on its behalf has received either an original or a copy thereof,
        as
        required in Section 2.01 (provided, however, that with respect to those
        documents described in subclauses (iv) and (vi) of Section 2.01, such
        obligations shall extend only to documents actually delivered pursuant to
        such
        subclauses). If the Trustee or the Custodian on its behalf finds any document
        with respect to a Mortgage Loan has not been received, or to be unrelated,
        determined on the basis of the Mortgagor name, original principal balance
        and
        loan number, to the Mortgage Loans identified in Exhibit B or to appear
        defective on its face, the Trustee or the Custodian on its behalf shall note
        such defect in the exception report attached to the Final Certification and
        shall promptly notify EMC (on its own behalf as Seller and on behalf of Master
        Funding). EMC (on its own behalf as Seller and on behalf of Master Funding)
        shall correct or cure any such defect or, if prior to the end of the second
        anniversary of the Closing Date, EMC (on its own behalf as Seller and on
        behalf
        of Master Funding) may substitute for the related Mortgage Loan a Replacement
        Mortgage Loan, which substitution shall be accomplished in the manner and
        subject to the conditions set forth in Section 2.03 or shall deliver to the
        Trustee an Opinion of Counsel addressed to the Trustee to the effect that
        such
        defect does not materially or adversely affect the interests of
        Certificateholders in such Mortgage Loan within 60 days from the date of
        notice
        from the Trustee of the defect and if EMC (on its own behalf as Seller and
        on
        behalf of Master Funding) is unable within such period to correct or cure
        such
        defect, or to substitute the related Mortgage Loan with a Replacement Mortgage
        Loan or to deliver such opinion, EMC (on its own behalf as Seller and on
        behalf
        of Master Funding) shall, subject to Section 2.03, within 90 days from the
        notification of the Trustee, purchase such Mortgage Loan at the Purchase
        Price;
        provided, however, that if such defect relates solely to the inability of
        EMC
        (on its own behalf as Seller and on behalf of Master Funding) to deliver
        the
        Mortgage, assignment thereof to the Trustee or intervening assignments thereof
        with evidence of recording thereon, because such documents have not been
        returned by the applicable jurisdiction, EMC (on its own behalf as Seller
        and on
        behalf of Master Funding) shall not be required to purchase such Mortgage
        Loan,
        if the Seller delivers such documents promptly upon receipt, but in no event
        later than 360 days after the Closing Date. Notwithstanding anything to the
        contrary, the Trustee shall have no responsibility with respect to the custody
        or review of Mortgage Files held by the Custodian pursuant to the Custodial
        Agreement. The Trustee shall have no liability for the failure of the Custodian
        to perform its obligations under the Custodial Agreement.

       

      (c) In
        the
        event that a Mortgage Loan is purchased by EMC (on its own behalf as Seller
        and
        on behalf of Master Funding) in accordance with subsections 2.02(a) or (b)
        above
        or Section 2.03, EMC (on its own behalf as Seller and on behalf of Master
        Funding) shall remit the applicable Purchase Price to the Master Servicer
        for
        deposit in the Protected Account and shall provide written notice to the
        Trustee
        detailing the components of the Purchase Price, signed by a Servicing Officer.
        Upon deposit of the Purchase Price in the Protected Account and upon receipt
        of
        a Request for Release with respect to such Mortgage Loan, the Trustee or
        the
        Custodian will release to EMC (on its own behalf as Seller and on behalf
        of
        Master Funding) the related Mortgage File and the Trustee shall execute and
        deliver all instruments of transfer or assignment, without recourse,
        representation or warranty furnished to it by the related Seller, as are
        necessary to vest in the title to and rights under the Mortgage Loan. Such
        purchase shall be deemed to have occurred on the date on which the deposit
        into
        the Protected Account was made. The Trustee shall promptly notify the Rating
        Agencies of such repurchase. The obligation of the Seller to cure, repurchase
        or
        substitute for any Mortgage Loan as to which a defect in a constituent document
        exists shall be the sole remedies respecting such defect available to the
        Certificateholders or to the Trustee on their behalf.

       

      (d) EMC
        (on
        its own behalf as Seller and on behalf of Master Funding) shall deliver to
        the
        Trustee or the Custodian on its behalf, and Trustee agrees to accept the
        Mortgage Note and other documents constituting the Mortgage File with respect
        to
        any Replacement Mortgage Loan, which the Trustee or the Custodian will review
        as
        provided in subsections 2.02(a) and 2.02(b), provided, that the Closing Date
        referred to therein shall instead be the date of delivery of the Mortgage
        File
        with respect to each Replacement Mortgage Loan.

       

      Section
        2.03 Representations,
        Warranties and Covenants of the Master Servicer and The Seller. 

       

      (a) The
        Master Servicer hereby represents and warrants to the Depositor and the Trustee
        as follows, as of the Closing Date:

       

      (i) It
        is
        duly organized and is validly existing and in good standing under the laws
        of
        the State of Delaware and is duly authorized and qualified to transact any
        and
        all business contemplated by this Agreement to be conducted by it in any
        state
        in which a Mortgaged Property is located or is otherwise not required under
        applicable law to effect such qualification and, in any event, is in compliance
        with the doing business laws of any such state, to the extent necessary to
        ensure its ability to enforce each Mortgage Loan, to service the Mortgage
        Loans
        in accordance with the terms of the Mortgage Loan Purchase Agreement and
        to
        perform any of its other obligations under this Agreement in accordance with
        the
        terms hereof or thereof.

       

      (ii) It
        has
        the full corporate power and authority to service each Mortgage Loan, and
        to
        execute, deliver and perform, and to enter into and consummate the transactions
        contemplated by this Agreement and has duly authorized by all necessary
        corporate action on its part the execution, delivery and performance of this
        Agreement; and this Agreement, assuming the due authorization, execution
        and
        delivery hereof by the other parties hereto or thereto, as applicable,
        constitutes its legal, valid and binding obligation, enforceable against
        it in
        accordance with its terms, except that (a) the enforceability hereof may
        be
        limited by bankruptcy, insolvency, moratorium, receivership and other similar
        laws relating to creditors’ rights generally and (b) the remedy of specific
        performance and injunctive and other forms of equitable relief may be subject
        to
        equitable defenses and to the discretion of the court before which any
        proceeding therefor may be brought.

       

      (iii) The
        execution and delivery of this Agreement, the servicing of the Mortgage Loans
        by
        it under this Agreement, the consummation of any other of the transactions
        contemplated by this Agreement, and the fulfillment of or compliance with
        the
        terms hereof and thereof are in its ordinary course of business and will
        not (A)
        result in a breach of any term or provision of its charter or by-laws or
        (B)
        conflict with, result in a breach, violation or acceleration of, or result
        in a
        default under, the terms of any other material agreement or instrument to
        which
        it is a party or by which it may be bound, or (C) constitute a violation
        of any
        statute, order or regulation applicable to it of any court, regulatory body,
        administrative agency or governmental body having jurisdiction over it; and
        it
        is not in breach or violation of any material indenture or other material
        agreement or instrument, or in violation of any statute, order or regulation
        of
        any court, regulatory body, administrative agency or governmental body having
        jurisdiction over it which breach or violation may materially impair its
        ability
        to perform or meet any of its obligations under this Agreement.

       

      (iv) It
        is an
        approved servicer of conventional mortgage loans for Fannie Mae or Freddie
        Mac
        and is a mortgagee approved by the Secretary of Housing and Urban Development
        pursuant to sections 203 and 211 of the National Housing Act.

       

      (v) No
        litigation is pending or, to the best of its knowledge, threatened, against
        it
        that would materially and adversely affect the execution, delivery or
        enforceability of this Agreement or its ability to service the Mortgage Loans
        or
        to perform any of its other obligations under this Agreement in accordance
        with
        the terms hereof.

       

      (vi) No
        consent, approval, authorization or order of any court or governmental agency
        or
        body is required for its execution, delivery and performance of, or compliance
        with, this Agreement or the consummation of the transactions contemplated
        hereby
        or thereby, or if any such consent, approval, authorization or order is
        required, it has obtained the same.

       

      (vii) The
        Master Servicer has and will fully furnish for each Group II Loan, in accordance
        with the Fair Credit Reporting Act and its implementing regulations, accurate
        and complete information (i.e., favorable and unfavorable) on its borrower
        credit files to Equifax, Experian, and Trans Union Credit Information Company
        (three of the credit repositories), on a monthly basis.

       

      (vii) In
        connection with the Mortgage Loans in Loan Group II, notwithstanding any
        state
        or federal law to the contrary, the Master Servicer shall not impose a
        prepayment premium in any instance when the the mortgage debt is accelerated
        through foreclosure sale or other payment as the result of the mortgagor’s
        default under the terms of the security instrument.

       

      (b) The
        Seller hereby represents and warrants to the Depositor and the Trustee as
        follows, as of the Closing Date:

       

      (i) The
        Seller is duly organized as a Delaware corporation and is validly existing
        and
        in good standing under the laws of the State of Delaware and is duly authorized
        and qualified to transact any and all business contemplated by this Agreement
        to
        be conducted by the Seller in any state in which a Mortgaged Property is
        located
        or is otherwise not required under applicable law to effect such qualification
        and, in any event, is in compliance with the doing business laws of any such
        state, to the extent necessary to ensure its ability to enforce each Mortgage
        Loan, to sell the Mortgage Loans in accordance with the terms of the Mortgage
        Loan Purchase Agreement and to perform any of its other obligations under
        this
        Agreement in accordance with the terms hereof.

       

      (ii) The
        Seller has the full corporate power and authority to sell each Mortgage Loan,
        and to execute, deliver and perform, and to enter into and consummate the
        transactions contemplated by this Agreement and has duly authorized by all
        necessary corporate action on the part of the Seller the execution, delivery
        and
        performance of this Agreement, assuming the due authorization, execution
        and
        delivery hereof by the other parties hereto or thereto, as applicable,
        constitutes a legal, valid and binding obligation of the Seller, enforceable
        against the Seller in accordance with its terms, except that (a) the
        enforceability hereof may be limited by bankruptcy, insolvency, moratorium,
        receivership and other similar laws relating to creditors’ rights generally and
        (b) the remedy of specific performance and injunctive and other forms of
        equitable relief may be subject to equitable defenses and to the discretion
        of
        the court before which any proceeding therefor may be brought.

       

      (iii) The
        execution and delivery of this Agreement by the Seller, the sale of the Mortgage
        Loans by the Seller under the Mortgage Loan Purchase Agreement, the consummation
        of any other of the transactions contemplated by this Agreement, and the
        fulfillment of or compliance with the terms hereof and thereof are in the
        ordinary course of business of the Seller and will not (A) result in a material
        breach of any term or provision of the charter or by-laws of the Seller or
        (B)
        conflict with, result in a breach, violation or acceleration of, or result
        in a
        default under, the terms of any other material agreement or instrument to
        which
        the Seller is a party or by which it may be bound, or (C) constitute a violation
        of any statute, order or regulation applicable to the Seller of any court,
        regulatory body, administrative agency or governmental body having jurisdiction
        over the Seller; and the Seller is not in breach or violation of any material
        indenture or other material agreement or instrument, or in violation of any
        statute, order or regulation of any court, regulatory body, administrative
        agency or governmental body having jurisdiction over it which breach or
        violation may materially impair the Seller’s ability to perform or meet any of
        its obligations under this Agreement.

       

      (iv) The
        Seller is an approved seller of conventional mortgage loans for Fannie Mae
        or
        Freddie Mac and is a mortgagee approved by the Secretary of Housing and Urban
        Development pursuant to sections 203 and 211 of the National Housing
        Act.

       

      (v) No
        litigation is pending or, to the best of the Seller’s knowledge, threatened,
        against the Seller that would materially and adversely affect the execution,
        delivery or enforceability of this Agreement or the ability of the Seller
        to
        sell the Mortgage Loans or to perform any of its other obligations under
        this
        Agreement in accordance with the terms hereof or thereof.

       

      (vi) No
        consent, approval, authorization or order of any court or governmental agency
        or
        body is required for the execution, delivery and performance by the Seller
        of,
        or compliance by the Seller with, this Agreement or the consummation of the
        transactions contemplated hereby, or if any such consent, approval,
        authorization or order is required, the Seller has obtained the
        same.

       

      (vii) With
        respect to each Mortgage Loan as of the Closing Date (or such other date
        as may
        be specified in Section 7 of the Mortgage Loan Purchase Agreement), the Seller
        hereby remakes and restates each of the representations and warranties set
        forth
        in Section 7 of the Mortgage Loan Purchase Agreement to the Depositor and
        the
        Trustee to the same extent as if fully set forth herein.

       

      (c) Upon
        discovery by any of the parties hereto of a breach of a representation or
        warranty set forth in the Mortgage Loan Purchase Agreement with respect to
        the
        Mortgage Loans that materially and adversely affects the interests of the
        Certificateholders in any Mortgage Loan, the party discovering such breach
        shall
        give prompt written notice thereof to the other parties. Any breach of a
        representation or warranty contained in clauses (c), (q) and (z) through
        (jj) of
        Section 7 of the Mortgage Loan Purchase Agreement in respect of a Group II
        Loan,
        shall be deemed to materially adversely affect the interests of the related
        Certificateholders. The Seller hereby covenants, with respect to the
        representations and warranties set forth in the Mortgage Loan Purchase Agreement
        with respect to the Mortgage Loans, that within 90 days of the discovery
        of a
        breach of any representation or warranty set forth therein that materially
        and
        adversely affects the interests of the Certificateholders in any Mortgage
        Loan,
        it shall cure such breach in all material respects and, if such breach is
        not so
        cured, (i) if such 90 day period expires prior to the second anniversary
        of the
        Closing Date, remove such Mortgage Loan (a “Deleted Mortgage Loan”) from the
        Trust Fund and substitute in its place a Replacement Mortgage Loan, in the
        manner and subject to the conditions set forth in this Section; or (ii)
        repurchase the affected Mortgage Loan or Mortgage Loans from the Trustee
        at the
        Purchase Price in the manner set forth below; provided that any such
        substitution pursuant to (i) above or repurchase pursuant to (ii) above shall
        not be effected prior to the delivery to the Trustee of an Opinion of Counsel
        if
        required by Section 2.05 hereof and any such substitution pursuant to (i)
        above
        shall not be effected prior to the additional delivery to the Trustee of
        a
        Request for Release. The Trustee shall give prompt written notice to the
        parties
        hereto of the Seller’s failure to cure such breach as set forth in the preceding
        sentence. The Seller shall promptly reimburse the Master Servicer and the
        Trustee for any expenses reasonably incurred by the Master Servicer or the
        Trustee in respect of enforcing the remedies for such breach. To enable the
        Master Servicer to amend the Mortgage Loan Schedule, the Seller shall, unless
        it
        cures such breach in a timely fashion pursuant to this Section 2.03, promptly
        notify the Master Servicer whether it intends either to repurchase, or to
        substitute for, the Mortgage Loan affected by such breach. With respect to
        the
        representations and warranties with respect to the Mortgage Loans that are
        made
        to the best of the Seller’s knowledge, if it is discovered by any of the
        Depositor, the Master Servicer, the Seller, the Trustee or the Custodian
        that
        the substance of such representation and warranty is inaccurate and such
        inaccuracy materially and adversely affects the value of the related Mortgage
        Loan, notwithstanding the Seller’s lack of knowledge with respect to the
        substance of such representation or warranty, the Seller shall nevertheless
        be
        required to cure, substitute for or repurchase the affected Mortgage Loan
        in
        accordance with the foregoing.

       

      With
        respect to any Replacement Mortgage Loan or Loans, the Seller (pursuant to
        the
        Mortgage Loan Purchase Agreement) shall deliver to the Trustee or the Custodian
        on its behalf for the benefit of the Certificateholders such documents and
        agreements as are required by Section 2.01. No substitution will be made
        in any
        calendar month after the Determination Date for such month. Notwithstanding
        the
        foregoing, such substitution must be done within two years of the Closing
        Date.
        Scheduled Payments due with respect to Replacement Mortgage Loans in the
        Due
        Period related to the Distribution Date on which such proceeds are to be
        distributed shall not be part of the Trust Fund and will be retained by the
        Seller. For the month of substitution, distributions to Certificateholders
        will
        include the Scheduled Payment due on any Deleted Mortgage Loan for the related
        Due Period and thereafter the Seller shall be entitled to retain all amounts
        received in respect of such Deleted Mortgage Loan. The Master Servicer shall
        amend the Mortgage Loan Schedule for the benefit of the Certificateholders
        to
        reflect the removal of such Deleted Mortgage Loan and the substitution of
        the
        Replacement Mortgage Loan or Loans and the Master Servicer shall deliver
        the
        amended Mortgage Loan Schedule to the Trustee and the Custodian. Upon such
        substitution, the Replacement Mortgage Loan or Loans shall be subject to
        the
        terms of this Agreement in all respects, and the Seller shall be deemed to
        have
        made with respect to such Replacement Mortgage Loan or Loans, as of the date
        of
        substitution, the representations and warranties set forth in Section 7 or
        Section 8 of the Mortgage Loan Purchase Agreement with respect to such Mortgage
        Loan. Upon any such substitution and the deposit into the Protected Account
        of
        the amount required to be deposited therein in connection with such substitution
        as described in the following paragraph and receipt by the Trustee of a Request
        for Release for such Mortgage Loan, the Trustee or the Custodian shall release
        to the Seller the Mortgage File relating to such Deleted Mortgage Loan and
        held
        for the benefit of the Certificateholders and the Trustee shall execute and
        deliver at the Seller’s direction such instruments of transfer or assignment as
        have been prepared by the Seller in each case without recourse, representation
        or warranty as shall be necessary to vest in the Seller or its respective
        designee, title to the Trustee’s interest in any Deleted Mortgage Loan
        substituted for pursuant to this Section 2.03.

       

      For
        any
        month in which the Seller substitutes one or more Replacement Mortgage Loans
        for
        a Deleted Mortgage Loan, the Master Servicer will determine the amount (if
        any)
        by which the aggregate principal balance of all the Replacement Mortgage
        Loans
        as of the date of substitution is less than the Stated Principal Balance
        (after
        application of the principal portion of the Scheduled Payment due in the
        month
        of substitution) of such Deleted Mortgage Loan. An amount equal to the aggregate
        of such deficiencies, described in the preceding sentence for any Distribution
        Date (such amount, the “Substitution Adjustment Amount”) shall be deposited into
        the Protected Account, by the Seller delivering such Replacement Mortgage
        Loan
        on the Determination Date for the Distribution Date relating to the Prepayment
        Period during which the related Mortgage Loan became required to be purchased
        or
        replaced hereunder.

       

      In
        the
        event that the Seller shall have repurchased a Mortgage Loan, the Purchase
        Price
        therefor shall be deposited into the Protected Account, on the Determination
        Date for the Distribution Date in the month following the month during which
        the
        Seller became obligated to repurchase or replace such Mortgage Loan and upon
        such deposit of the Purchase Price, the delivery of an Opinion of Counsel
        if
        required by Section 2.05 and the receipt of a Request for Release, the Trustee
        or the Custodian shall release the related Mortgage File held for the benefit
        of
        the Certificateholders to the Seller and the Trustee shall execute and deliver
        at such Person’s direction the related instruments of transfer or assignment
        prepared by the Seller, in each case without recourse, as shall be necessary
        to
        transfer title from the Trustee for the benefit of the Certificateholders
        and
        transfer the Trustee’s interest to EMC (on its own as a Seller and on behalf of
        Master Funding) to any Mortgage Loan purchased pursuant to this Section 2.03.
        It
        is understood and agreed that the obligation under this Agreement of the
        Seller
        to cure, repurchase or replace any Mortgage Loan as to which a breach has
        occurred and is continuing shall constitute the sole remedies against the
        Seller
        respecting such breach available to the Certificateholders, the Depositor
        or the
        Trustee.

       

      (d) The
        representations and warranties set forth in this Section 2.03 hereof shall
        survive delivery of the respective Mortgage Loans and Mortgage Files to the
        Trustee or the Custodian for the benefit of the Certificateholders.

       

      Section
        2.04 Representations
        and Warranties of the Depositor. 

       

      The
        Depositor hereby represents and warrants to the Master Servicer and the Trustee
        as follows, as of the date hereof and as of the Closing Date:

       

      (i) The
        Depositor is duly organized and is validly existing as a limited liability
        company in good standing under the laws of the State of Delaware and has
        full
        power and authority necessary to own or hold its properties and to conduct
        its
        business as now conducted by it and to enter into and perform its obligations
        under this Agreement.

       

      (ii) The
        Depositor has the full power and authority to execute, deliver and perform,
        and
        to enter into and consummate the transactions contemplated by, this Agreement
        and has duly authorized, by all necessary corporate action on its part, the
        execution, delivery and performance of this Agreement, assuming the due
        authorization, execution and delivery hereof by the other parties hereto,
        constitutes a legal, valid and binding obligation of the Depositor, enforceable
        against the Depositor in accordance with its terms, subject, as to
        enforceability, to (i) bankruptcy, insolvency, reorganization, moratorium
        and
        other similar laws affecting creditors’ rights generally and (ii) general
        principles of equity, regardless of whether enforcement is sought in a
        proceeding in equity or at law.

       

      (iii) The
        execution and delivery of this Agreement by the Depositor, the consummation
        of
        the transactions contemplated by this Agreement, and the fulfillment of or
        compliance with the terms hereof and thereof are in the ordinary course of
        business of the Depositor and will not (A) result in a material breach of
        any
        term or provision of the certificate of formation or limited liability company
        agreement of the Depositor or (B) conflict with, result in a breach, violation
        or acceleration of, or result in a default under, the terms of any other
        material agreement or instrument to which the Depositor is a party or by
        which
        it may be bound or (C) constitute a violation of any statute, order or
        regulation applicable to the Depositor of any court, regulatory body,
        administrative agency or governmental body having jurisdiction over the
        Depositor; and the Depositor is not in breach or violation of any material
        indenture or other material agreement or instrument, or in violation of any
        statute, order or regulation of any court, regulatory body, administrative
        agency or governmental body having jurisdiction over it which breach or
        violation may materially impair the Depositor’s ability to perform or meet any
        of its obligations under this Agreement.

       

      (iv) No
        litigation is pending, or, to the best of the Depositor’s knowledge, threatened,
        against the Depositor that would materially and adversely affect the execution,
        delivery or enforceability of this Agreement or the ability of the Depositor
        to
        perform its obligations under this Agreement in accordance with the terms
        hereof
        or thereof.

       

      (v) No
        consent, approval, authorization or order of any court or governmental agency
        or
        body is required for the execution, delivery and performance by the Depositor
        of, or compliance by the Depositor with this Agreement or the consummation
        of
        the transactions contemplated hereby or thereby, or if any such consent,
        approval, authorization or order is required, the Depositor has obtained
        the
        same.

       

      (vi) The
        Depositor has filed all reports required to be filed by Section 13 or Section
        15(d) of the Exchange Act during the preceding 12 months (or for such shorter
        period that the Depositor was required to file such reports) and it has been
        subject to such filing requirements for the past 90 days.

       

      The
        Depositor hereby represents and warrants to the Trustee as of the Closing
        Date,
        following the transfer of the Mortgage Loans to it by the Sellers, the Depositor
        had good title to the Mortgage Loans and the related Mortgage Notes were
        subject
        to no offsets, claims, defenses or counterclaims.

       

      It
        is
        understood and agreed that the representations and warranties set forth in
        this
        Section 2.04 shall survive delivery of the Mortgage Files to the Trustee
        or the
        Custodian for the benefit of the Certificateholders. Upon discovery by the
        Depositor or the Trustee of a breach of such representations and warranties,
        the
        party discovering such breach shall give prompt written notice to the others
        and
        to each Rating Agency.

       

      Section
        2.05 Delivery
        of Opinion of Counsel in Connection with Substitutions and
        Repurchases. 

       

      (a) Notwithstanding
        any contrary provision of this Agreement, with respect to any Mortgage Loan
        that
        is not in default or as to which default is not reasonably foreseeable, no
        repurchase or substitution pursuant to Sections 2.02 or 2.03 shall be made
        unless the Seller delivers to the Trustee an Opinion of Counsel, addressed
        to
        the Trustee, to the effect that such repurchase or substitution would not
        (i)
        result in the imposition of the tax on “prohibited transactions” of REMIC I,
        REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI or contributions after
        the
        Closing Date, as defined in Sections 860F(a)(2) and 860G(d) of the Code,
        respectively, or (ii) cause any of REMIC I, REMIC II, REMIC III, REMIC IV,
        REMIC
        V or REMIC VI to fail to qualify as a REMIC at any time that any Certificates
        are outstanding. Any Mortgage Loan as to which repurchase or substitution
        was
        delayed pursuant to this paragraph shall be repurchased or the substitution
        therefor shall occur (subject to compliance with Sections 2.02 or 2.03) upon
        the
        earlier of (a) the occurrence of a default or a default becoming reasonably
        foreseeable with respect to such Mortgage Loan and (b) receipt by the Trustee
        of
        an Opinion of Counsel addressed to the Trustee to the effect that such
        repurchase or substitution, as applicable, will not result in the events
        described in clause (i) or clause (ii) of the preceding sentence.

       

      (b) Upon
        discovery by the Depositor, the Seller or the Master Servicer 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 promptly (and
        in
        any event within 5 Business Days of discovery) give written notice thereof
        to
        the other parties and the Trustee. In connection therewith, the Trustee shall
        require the Seller at it’s option, to either (i) substitute, if the conditions
        in Section 2.03 with respect to substitutions are satisfied, a Replacement
        Mortgage Loan for the affected Mortgage Loan, or (ii) repurchase the affected
        Mortgage Loan within 90 days of such discovery in the same manner as it would
        a
        Mortgage Loan for a breach of representation or warranty in accordance with
        Section 2.03. The Trustee shall reconvey to the Seller the Mortgage Loan
        to be
        released pursuant hereto (and the Custodian shall deliver the related Mortgage
        File) 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 in
        accordance with Section 2.03.

       

      Section
        2.06 Countersignature
        and Delivery of Certificates. 

       

      (a) The
        Trustee acknowledges the sale, transfer and assignment to it of the Trust
        Fund
        and, concurrently with such transfer and assignment, has executed, countersigned
        and delivered, to or upon the order of the Depositor, the Certificates in
        authorized denominations evidencing the entire ownership of the Trust Fund.
        The
        Trustee agrees to hold the Trust Fund and exercise the rights referred to
        above
        for the benefit of all present and future Holders of the Certificates and
        to
        perform the duties set forth in this Agreement in accordance with its
        terms.

       

      (b) The
        Depositor concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        REMIC
        I Regular Interests and the other assets of REMIC II for the benefit of the
        holders of the REMIC II Regular Interests and the Class R-2 Certificates.
        The
        Trustee acknowledges receipt of the REMIC I Regular Interests (which are
        uncertificated) and the other assets of REMIC II and declares that it holds
        and
        will hold the same in trust for the exclusive use and benefit of the holders of
        the REMIC II Regular Interests and the Class R-2 Certificates.

       

      (c) The
        Depositor concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        REMIC
        II Regular Interests and the other assets of REMIC III for the benefit of
        the
        holders of the REMIC III Regular Interests and the Class R-3 Certificates.
        The
        Trustee acknowledges receipt of the REMIC II Regular Interests (which are
        uncertificated) and the other assets of REMIC III and declares that it holds
        and
        will hold the same in trust for the exclusive use and benefit of the holders
        of
        the REMIC III Regular Interests and the Class R-3 Certificates.

       

      (d) The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        Class
        CE Interest for the benefit of the Holders of the REMIC IV Certificates.
        The
        Trustee acknowledges receipt of the Class CE Interest (which is uncertificated)
        and declares that it holds and will hold the same in trust for the exclusive
        use
        and benefit of the Holders of the REMIC IV Certificates.

       

      (e) The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        Class
        P Interest for the benefit of the Holders of the REMIC V Certificates. The
        Trustee acknowledges receipt of the Class P Interest (which is uncertificated)
        and declares that it holds and will hold the same in trust for the exclusive
        use
        and benefit of the Holders of the REMIC V Certificates.

       

      (f) The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        Class
        IO Interest for the benefit of the holders of the REMIC VI Interests. The
        Trustee acknowledges receipt of the Class IO Interest (which is uncertificated)
        and declares that it holds and will hold the same in trust for the exclusive
        use
        and benefit of the holders of the REMIC VI Interests.

       

      Section
        2.07 Purposes
        and Powers of the Trust.

       

      The
        purpose of the common law trust, as created hereunder, is to engage in the
        following activities:

       

      (a) acquire
        and hold, as set forth in this Agreement, the Mortgage Loans and the other
        assets of the Trust Fund and the proceeds therefrom for the benefit of the
        Certificateholders;

       

      (b) to
        issue
        the Certificates sold to the Depositor in exchange for the Mortgage Loans
        and
        any other assets of the Trust;

       

      (c) to
        make
        distributions on the Certificates;

       

      (d) to
        engage
        in those activities that are necessary, suitable or convenient to accomplish
        the
        foregoing or are incidental thereto or connected therewith; and

       

      (e) subject
        to compliance with this Agreement, to engage in such other activities as
        may be
        required in connection with conservation of the Trust Fund and the making
        of
        distributions to the Certificateholders.

       

      The
        Trust
        is hereby authorized to engage in the foregoing activities. Neither the Trustee
        nor the Master Servicer shall cause the Trust to engage in any activity other
        than in connection with the foregoing or other than as required or authorized
        by
        the terms of this Agreement while any Certificate is outstanding.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        III

       

      ADMINISTRATION
        AND SERVICING OF THE MORTGAGE LOANS

       

      Section
        3.01 The
        Master Servicer to act as Master Servicer. 

       

      The
        Master Servicer shall service and administer the Mortgage Loans in accordance
        with customary and usual standards of practice of prudent mortgage loan
        servicers in the respective states in which the related Mortgaged Properties
        are
        located. In connection with such servicing and administration, the Master
        Servicer shall have full power and authority, acting alone and/or through
        subservicers as provided in Section 3.03, to do or cause to be done any and
        all
        things that it may deem necessary or desirable in connection with such servicing
        and administration, including but not limited to, the power and authority,
        subject to the terms hereof (i) to execute and deliver, on behalf of the
        Certificateholders and the Trustee, customary consents or waivers and other
        instruments and documents, (ii) to consent to transfers of any related Mortgaged
        Property and assumptions of the Mortgage Notes and related Mortgages (but
        only
        in the manner provided herein), (iii) to collect any Insurance Proceeds and
        other Liquidation Proceeds or Subsequent Recoveries, and (iv) subject to
        Section
        3.09, to effectuate foreclosure or other conversion of the ownership of the
        Mortgaged Property securing any Mortgage Loan; provided that the Master Servicer
        shall take no action that is inconsistent with or prejudices the interests
        of
        the Trust Fund or the Certificateholders in any Mortgage Loan or the rights
        and
        interests of the Depositor or the Trustee under this Agreement.

       

      Without
        limiting the generality of the foregoing, the Master Servicer, in its own
        name
        or in the name of the Trust, the Depositor or the Trustee, is hereby authorized
        and empowered by the Trust, the Depositor and the Trustee, when the Master
        Servicer believes it appropriate in its reasonable judgment, to execute and
        deliver, on behalf of the Trustee, the Depositor, the Certificateholders
        or any
        of them, any and all instruments of satisfaction or cancellation, or of partial
        or full release or discharge and all other comparable instruments, with respect
        to the Mortgage Loans, and with respect to the Mortgaged Properties held
        for the
        benefit of the Certificateholders. The Master Servicer shall prepare and
        deliver
        to the Depositor and/or the Trustee such documents requiring execution and
        delivery by any or all of them as are necessary or appropriate to enable
        the
        Master Servicer to service and administer the Mortgage Loans. Upon receipt
        of
        such documents, the Depositor and/or the Trustee shall execute such documents
        and deliver them to the Master Servicer.

       

      In
        accordance with the standards of the first paragraph of this Section 3.01,
        the
        Master Servicer shall advance or cause to be advanced funds as necessary
        for the
        purpose of effecting the payment of taxes and assessments on the Mortgaged
        Properties, which advances shall be reimbursable in the first instance from
        related collections from the Mortgagors pursuant to Section 4.03, and further
        as
        provided in Section 4.02. All costs incurred by the Master Servicer, if any,
        in
        effecting the timely payments of taxes and assessments on the Mortgaged
        Properties and related insurance premiums shall not, for the purpose of
        calculating monthly distributions to the Certificateholders, be added to
        the
        Stated Principal Balance under the Mortgage Loans, notwithstanding that the
        terms of such Mortgage Loans so permit.

       

      Section
        3.02 Due-on-Sale
        Clauses; Assumption Agreements. 

       

      (a) Except
        as
        otherwise provided in this Section 3.02, when any property subject to a Mortgage
        has been or is about to be conveyed by the Mortgagor, the Master Servicer
        shall
        to the extent that it has knowledge of such conveyance, enforce any due-on-sale
        clause contained in any Mortgage Note or Mortgage, to the extent permitted
        under
        applicable law and governmental regulations, but only to the extent that
        such
        enforcement will not adversely affect or jeopardize coverage under any Required
        Insurance Policy. Notwithstanding the foregoing, the Master Servicer is not
        required to exercise such rights with respect to a Mortgage Loan if the Person
        to whom the related Mortgaged Property has been conveyed or is proposed to
        be
        conveyed satisfies the terms and conditions contained in the Mortgage Note
        and
        Mortgage related thereto and the consent of the mortgagee under such Mortgage
        Note or Mortgage is not otherwise so required under such Mortgage Note or
        Mortgage as a condition to such transfer. In the event that the Master Servicer
        is prohibited by law from enforcing any such due-on-sale clause, or if coverage
        under any Required Insurance Policy would be adversely affected, or if
        nonenforcement is otherwise permitted hereunder, the Master Servicer is
        authorized, subject to Section 3.02(b), to take or enter into an assumption
        and
        modification agreement from or with the person to whom such property has
        been or
        is about to be conveyed, pursuant to which such person becomes liable under
        the
        Mortgage Note and, unless prohibited by applicable state law, the Mortgagor
        remains liable thereon, provided that the Mortgage Loan shall continue to
        be
        covered (if so covered before the Master Servicer enters such agreement)
        by the
        applicable Required Insurance Policies. The Master Servicer, subject to Section
        3.02(b), is also authorized with the prior approval of the insurers under
        any
        Required Insurance Policies to enter into a substitution of liability agreement
        with such Person, pursuant to which the original Mortgagor is released from
        liability and such Person is substituted as Mortgagor and becomes liable
        under
        the Mortgage Note. Notwithstanding the foregoing, the Master Servicer shall
        not
        be deemed to be in default under this Section 3.02(a) by reason of any transfer
        or assumption that the Master Servicer reasonably believes it is restricted
        by
        law from preventing.

       

      (b) Subject
        to the Master Servicer’s duty to enforce any due-on-sale clause to the extent
        set forth in Section 3.02(a), in any case in which a Mortgaged Property has
        been
        conveyed to a Person by a Mortgagor, and such Person is to enter into an
        assumption agreement or modification agreement or supplement to the Mortgage
        Note or Mortgage that requires the signature of the Trustee, or if an instrument
        of release signed by the Trustee is required releasing the Mortgagor from
        liability on the related Mortgage Loan, the Master Servicer shall prepare
        and
        deliver or cause to be prepared and delivered to the Trustee for signature
        and
        shall direct, in writing, the Trustee to execute the assumption agreement
        with
        the Person to whom the Mortgaged Property is to be conveyed and such
        modification agreement or supplement to the Mortgage Note or Mortgage or
        other
        instruments as are reasonable or necessary to carry out the terms of the
        Mortgage Note or Mortgage or otherwise to comply with any applicable laws
        regarding assumptions or the transfer of the Mortgaged Property to such Person.
        In connection with any such assumption, no material term of the Mortgage
        Note
        (including, but not limited to, the Mortgage Rate, the amount of the Scheduled
        Payment and any other term affecting the amount or timing of payment on the
        Mortgage Loan) may be changed. In addition, the substitute Mortgagor and
        the
        Mortgaged Property must be acceptable to the Master Servicer in accordance
        with
        its servicing standards as then in effect. The Master Servicer shall notify
        the
        Trustee that any such substitution or assumption agreement has been completed
        by
        forwarding to the Trustee the original of such substitution or assumption
        agreement, which in the case of the original shall be added to the related
        Mortgage File and shall, for all purposes, be considered a part of such Mortgage
        File to the same extent as all other documents and instruments constituting
        a
        part thereof. Any fee collected by the Master Servicer for entering into
        an
        assumption or substitution of liability agreement will be retained by the
        Master
        Servicer as additional servicing compensation.

       

      Section
        3.03 Subservicers. 

       

      The
        Master Servicer shall perform all of its servicing responsibilities hereunder
        or
        may cause a subservicer to perform any such servicing responsibilities on
        its
        behalf, but the use by the Master Servicer of a subservicer shall not release
        the Master Servicer from any of its obligations hereunder and the Master
        Servicer shall remain responsible hereunder for all acts and omissions of
        each
        subservicer as fully as if such acts and omissions were those of the Master
        Servicer. The Master Servicer shall pay all fees of each subservicer from
        its
        own funds, and a subservicer’s fee shall not exceed the Servicing Fee payable to
        the Master Servicer hereunder.

       

      At
        the
        cost and expense of the Master Servicer, without any right of reimbursement
        from
        its Protected Account, the Master Servicer shall be entitled to terminate
        the
        rights and responsibilities of a subservicer and arrange for any servicing
        responsibilities to be performed by a successor subservicer; provided, however,
        that nothing contained herein shall be deemed to prevent or prohibit the
        Master
        Servicer, at the Master Servicer’s option, from electing to service the related
        Mortgage Loans itself. In the event that the Master Servicer’s responsibilities
        and duties under this Agreement are terminated pursuant to Section 8.01,
        the
        Master Servicer shall at its own cost and expense terminate the rights and
        responsibilities of each subservicer effective as of the date of termination
        of
        the Master Servicer. The Master Servicer shall pay all fees, expenses or
        penalties necessary in order to terminate the rights and responsibilities
        of
        each subservicer from the Master Servicer’s own funds without reimbursement from
        the Trust Fund.

       

      Notwithstanding
        the foregoing, the Master Servicer shall not be relieved of its obligations
        hereunder and shall be obligated to the same extent and under the same terms
        and
        conditions as if it alone were servicing and administering the Mortgage Loans.
        The Master Servicer shall be entitled to enter into an agreement with a
        subservicer for indemnification of the Master Servicer by the subservicer
        and
        nothing contained in this Agreement shall be deemed to limit or modify such
        indemnification.

       

      Any
        subservicing agreement and any other transactions or services relating to
        the
        Mortgage Loans involving a subservicer shall be deemed to be between such
        subservicer and the Master Servicer alone, and the Trustee shall not have
        any
        obligations, duties or liabilities with respect to such subservicer including
        any obligation, duty or liability of the Trustee to pay such subservicer’s fees
        and expenses. Each subservicing agreement shall provide that such agreement
        may
        be assumed or terminated without cause or penalty by the Trustee or other
        Successor Master Servicer in the event the Master Servicer is terminated
        in
        accordance with this Agreement. For purposes of remittances to the Trustee
        pursuant to this Agreement, the Master Servicer shall be deemed to have received
        a payment on a Mortgage Loan when a subservicer has received such
        payment.

       

      Section
        3.04 Documents,
        Records and Funds in Possession of the Master Servicer To Be Held for
        Trustee. 

       

      Notwithstanding
        any other provisions of this Agreement, the Master Servicer shall transmit
        to
        the Trustee or the Custodian on behalf of the Trustee as required by this
        Agreement all documents and instruments in respect of a Mortgage Loan coming
        into the possession of the Master Servicer from time to time and shall account
        fully to the Trustee for any funds received by the Master Servicer or that
        otherwise are collected by the Master Servicer as Liquidation Proceeds,
        Insurance Proceeds or Subsequent Recoveries in respect of any such Mortgage
        Loan. All Mortgage Files and funds collected or held by, or under the control
        of, the Master Servicer in respect of any Mortgage Loans, whether from the
        collection of principal and interest payments or from Liquidation Proceeds
        or
        Subsequent Recoveries, including but not limited to, any funds on deposit
        in the
        Protected Account, shall be held by the Master Servicer for and on behalf
        of the
        Trustee and shall be and remain the sole and exclusive property of the Trustee,
        subject to the applicable provisions of this Agreement. The Master Servicer
        also
        agrees that it shall not create, incur or subject any Mortgage File or any
        funds
        that are deposited in the Protected Account or in any Escrow Account, or
        any
        funds that otherwise are or may become due or payable to the Trustee for
        the
        benefit of the Certificateholders, to any claim, lien, security interest,
        judgment, levy, writ of attachment or other encumbrance, or assert by legal
        action or otherwise any claim or right of set off against any Mortgage File
        or
        any funds collected on, or in connection with, a Mortgage Loan, except, however,
        that the Master Servicer shall be entitled to set off against and deduct
        from
        any such funds any amounts that are properly due and payable to the Master
        Servicer under this Agreement.

       

      Section
        3.05 Maintenance
        of Hazard Insurance. 

       

      The
        Master Servicer shall cause to be maintained, for each Mortgage Loan, hazard
        insurance on buildings upon, or comprising part of, the Mortgaged Property
        against loss by fire, hazards of extended coverage and such other hazards
        as are
        customary in the area where the related Mortgaged Property is located with
        an
        insurer which is licensed to do business in the state where the related
        Mortgaged Property is located. Each such policy of standard hazard insurance
        shall contain, or have an accompanying endorsement that contains, a standard
        mortgagee clause. The Master Servicer shall also cause flood insurance to
        be
        maintained on property acquired upon foreclosure or deed in lieu of foreclosure
        of any Mortgage Loan, to the extent described below. Pursuant to Section
        4.01,
        any amounts collected by the Master Servicer under any such policies (other
        than
        the amounts to be applied to the restoration or repair of the related Mortgaged
        Property or property thus acquired or amounts released to the Mortgagor in
        accordance with the Master Servicer’s normal servicing procedures) shall be
        deposited in the Protected Account. Any cost incurred by the Master Servicer
        in
        maintaining any such insurance shall not, for the purpose of calculating
        monthly
        distributions to the Certificateholders or remittances to the Trustee for
        their
        benefit, be added to the principal balance of the Mortgage Loan, notwithstanding
        that the terms of the Mortgage Loan so permit. Such costs shall be recoverable
        by the Master Servicer out of late payments by the related Mortgagor or out
        of
        Liquidation Proceeds to the extent permitted by Section 4.02. It is understood
        and agreed that no earthquake or other additional insurance is to be required
        of
        any Mortgagor or maintained on property acquired in respect of a Mortgage
        other
        than pursuant to such applicable laws and regulations as shall at any time
        be in
        force and as shall require such additional insurance. If the Mortgaged Property
        is located at the time of origination of the Mortgage Loan in a federally
        designated special flood hazard area and such area is participating in the
        national flood insurance program, the Master Servicer shall cause flood
        insurance to be maintained with respect to such Mortgage Loan. Such flood
        insurance shall be in an amount equal to the least of (i) the Stated Principal
        Balance of the related Mortgage Loan, (ii) minimum amount required to compensate
        for damage or loss on a replacement cost basis or (iii) the maximum amount
        of
        such insurance available for the related Mortgaged Property under the Flood
        Disaster Protection Act of 1973, as amended.

       

      In
        the
        event that the Master Servicer shall obtain and maintain a blanket policy
        insuring against hazard losses on all of the Mortgage Loans, it shall
        conclusively be deemed to have satisfied its obligations as set forth in
        the
        first sentence of this Section 3.05, it being understood and agreed that
        such
        policy may contain a deductible clause on terms substantially equivalent
        to
        those commercially available and maintained by comparable servicers. If such
        policy contains a deductible clause, the Master Servicer shall, in the event
        that there shall not have been maintained on the related Mortgaged Property
        a
        policy complying with the first sentence of this Section 3.05, and there
        shall
        have been a loss that would have been covered by such policy, deposit in
        the
        Protected Account the amount not otherwise payable under the blanket policy
        because of such deductible clause. Such deposit shall be from the Master
        Servicer’s own funds without reimbursement therefor. In connection with its
        activities as administrator and servicer of the Mortgage Loans, the Master
        Servicer agrees to present, on behalf of itself, the Depositor and the Trustee
        for the benefit of the Certificateholders claims under any such blanket
        policy.

       

      Section
        3.06 Presentment
        of Claims and Collection of Proceeds. 

       

      The
        Master Servicer shall prepare and present on behalf of the Trustee and the
        Certificateholders all claims under the Insurance Policies and take such
        actions
        (including the negotiation, settlement, compromise or enforcement of the
        insured’s claim) as shall be necessary to realize recovery under such Insurance
        Policies. Any proceeds disbursed to the Master Servicer in respect of such
        Insurance Policies shall be promptly deposited in the Protected Account upon
        receipt, except that any amounts realized that are to be applied to the repair
        or restoration of the related Mortgaged Property as a condition precedent
        to the
        presentation of claims on the related Mortgage Loan to the insurer under
        any
        applicable Insurance Policy need not be so deposited (or remitted).

       

      Section
        3.07 Maintenance
        of the Primary Mortgage Insurance Policies. 

       

      (a) The
        Master Servicer shall not take any action that would result in noncoverage
        under
        any applicable Primary Mortgage Insurance Policy of any loss which, but for
        the
        actions of the Master Servicer would have been covered thereunder. The Master
        Servicer shall use its best efforts 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. The Master Servicer
        shall not cancel or refuse to renew any such Primary Mortgage 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.

       

      (b) The
        Master Servicer agrees to present on behalf of the Trustee, the
        Certificateholders claims to the insurer under any Primary Mortgage Insurance
        Policies and, in this regard, to take such reasonable action as shall be
        necessary to permit recovery under any Primary Mortgage Insurance Policies
        respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts
        collected by the Master Servicer under any Primary Mortgage Insurance Policies
        shall be deposited in the Protected Account, subject to withdrawal pursuant
        to
        Section 4.02 hereof. 

       

      Section
        3.08 Fidelity
        Bond, Errors and Omissions Insurance. 

       

      The
        Master Servicer shall maintain, at its own expense, a blanket fidelity bond
        and
        an errors and omissions insurance policy, with broad coverage with responsible
        companies on all officers, employees or other persons acting in any capacity
        with regard to the Mortgage Loans and who handle funds, money, documents
        and
        papers relating to the Mortgage Loans. The fidelity bond and errors and
        omissions insurance shall be in the form of the Mortgage Banker’s Blanket Bond
        and shall protect and insure the Master Servicer against losses, including
        forgery, theft, embezzlement, fraud, errors and omissions and negligent acts
        of
        such persons. Such fidelity bond shall also protect and insure the Master
        Servicer against losses in connection with the failure to maintain any insurance
        policies required pursuant to this Agreement and the release or satisfaction
        of
        a Mortgage Loan which is not in accordance with Accepted Servicing Practices.
        No
        provision of this Section 3.08 requiring the fidelity bond and errors and
        omissions insurance shall diminish or relieve the Master Servicer from its
        duties and obligations as set forth in this Agreement. The minimum coverage
        under any such bond and insurance policy shall be at least equal to the
        corresponding amounts required by Accepted Servicing Practices. The Master
        Servicer shall deliver to the Trustee a certificate from the surety and the
        insurer as to the existence of the fidelity bond and errors and omissions
        insurance policy and shall obtain a statement from the surety and the insurer
        that such fidelity bond or insurance policy shall in no event be terminated
        or
        materially modified without thirty days prior written notice to the Trustee.
        The
        Master Servicer shall notify the Trustee within five business days of receipt
        of
        notice that such fidelity bond or insurance policy will be, or has been,
        materially modified or terminated. The Trustee for the benefit of the
        Certificateholders must be named as loss payees on the fidelity bond and
        as
        additional insured on the errors and omissions policy.

       

      Section
        3.09 Realization
        Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds
        and
        Realized Losses; Repurchases of Certain Mortgage Loans. 

       

      (a) The
        Master Servicer shall use reasonable efforts to foreclose upon or otherwise
        comparably convert the ownership of properties securing such of the Mortgage
        Loans as come into and continue in default and as to which no satisfactory
        arrangements can be made for collection of delinquent payments. In connection
        with such foreclosure or other conversion, the Master Servicer shall follow
        such
        practices and procedures as it shall deem necessary or advisable and as shall
        be
        normal and usual in its general mortgage servicing activities and the
        requirements of the insurer under any Required Insurance Policy; provided
        that
        the Master Servicer shall not be required to expend its own funds in connection
        with any foreclosure or towards the restoration of any property unless it
        shall
        determine (i) that such restoration and/or foreclosure will increase the
        proceeds of liquidation of the Mortgage Loan after reimbursement to itself
        of
        such expenses and (ii) that such expenses will be recoverable to it through
        Insurance Proceeds, Liquidation Proceeds (respecting which it shall have
        priority for purposes of withdrawals from the Protected Account pursuant
        to
        Section 4.02). If the Master Servicer reasonably believes that Liquidation
        Proceeds with respect to any such Mortgage Loan would not be increased as
        a
        result of such foreclosure or other action, such Mortgage Loan will be
        charged-off and will become a Liquidated Loan. The Master Servicer will give
        notice of any such charge-off to the Trustee. The Master Servicer shall be
        responsible for all other costs and expenses incurred by it in any such
        proceedings; provided that such costs and expenses shall be Servicing Advances
        and that it shall be entitled to reimbursement thereof from the proceeds
        of
        liquidation of the related Mortgaged Property, as contemplated in Section
        4.02.
        If the Master Servicer has knowledge that a Mortgaged Property that the Master
        Servicer is contemplating acquiring in foreclosure or by deed- in-lieu of
        foreclosure is located within a one-mile radius of any site with environmental
        or hazardous waste risks known to the Master Servicer, the Master Servicer
        will,
        prior to acquiring the Mortgaged Property, consider such risks and only take
        action in accordance with its established environmental review
        procedures.

       

      With
        respect to any REO Property, the deed or certificate of sale shall be taken
        in
        the name of the Trustee for the benefit of the Certificateholders (or the
        Trustee’s nominee on behalf of the Certificateholders). The Trustee’s name shall
        be placed on the title to such REO Property solely as the Trustee hereunder
        and
        not in its individual capacity. The Master Servicer shall ensure that the
        title
        to such REO Property references this Agreement and the Trustee’s capacity
        hereunder. Pursuant to its efforts to sell such REO Property, the Master
        Servicer shall either itself or through an agent selected by the Master Servicer
        protect and conserve such REO Property in the same manner and to such extent
        as
        is customary in the locality where such REO Property is located and may,
        incident to its conservation and protection of the interests of the
        Certificateholders, rent the same, or any part thereof, as the Master Servicer
        deems to be in the best interest of the Master Servicer and the
        Certificateholders for the period prior to the sale of such REO Property.
        The
        Master Servicer shall prepare for and deliver to the Trustee a statement
        with
        respect to each REO Property that has been rented showing the aggregate rental
        income received and all expenses incurred in connection with the management
        and
        maintenance of such REO Property at such times as is necessary to enable
        the
        Trustee to comply with the reporting requirements of the REMIC Provisions.
        The
        net monthly rental income, if any, from such REO Property shall be deposited
        in
        the Protected Account no later than the close of business on each Determination
        Date. The Master Servicer shall perform the tax reporting and withholding
        related to foreclosures, abandonments and cancellation of indebtedness income
        as
        specified by Sections 1445, 6050J and 6050P of the Code by preparing and
        filing
        such tax and information returns, as may be required.

       

      In
        the
        event that the Trust Fund acquires any Mortgaged Property as aforesaid or
        otherwise in connection with a default or reasonably foreseeable default
        on a
        Mortgage Loan, the Master Servicer shall dispose of such Mortgaged Property
        prior to three years after its acquisition by the Trust Fund or, at the expense
        of the Trust Fund, request more than 60 days prior to the day on which such
        three-year period would otherwise expire, an extension of the three-year
        grace
        period unless the Trustee shall have been supplied with an Opinion of Counsel
        addressed to the Trustee (such opinion not to be an expense of the Trustee)
        to
        the effect that the holding by the Trust Fund of such Mortgaged Property
        subsequent to such three-year period will not result in the imposition of
        taxes
        on “prohibited transactions” of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V
        or REMIC VI as defined in Section 860F of the Code or cause any of REMIC
        I,
        REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI to fail to qualify as
        a REMIC
        at any time that any Certificates are outstanding, in which case the Trust
        Fund
        may continue to hold such Mortgaged Property (subject to any conditions
        contained in such Opinion of Counsel). Notwithstanding any other provision
        of
        this Agreement, no Mortgaged Property acquired by the Trust Fund shall be
        rented
        (or allowed to continue to be rented) or otherwise used for the production
        of
        income by or on behalf of the Trust Fund in such a manner or pursuant to
        any
        terms that would (i) cause such Mortgaged Property to fail to qualify as
        “foreclosure property” within the meaning of Section 860G(a)(8) of the Code or
        (ii) subject any of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC
        VI
        to the imposition of any federal, state or local income taxes on the income
        earned from such Mortgaged Property under Section 860G(c) of the Code or
        otherwise, unless the Master Servicer has agreed to indemnify and hold harmless
        the Trust Fund with respect to the imposition of any such taxes.

       

      The
        decision of the Master Servicer to foreclose on a defaulted Mortgage Loan
        shall
        be subject to a determination by the Master Servicer that the proceeds of
        such
        foreclosure would exceed the costs and expenses of bringing such a proceeding.
        The income earned from the management of any Mortgaged Properties acquired
        through foreclosure or other judicial proceeding, net of reimbursement to
        the
        Master Servicer for expenses incurred (including any property or other taxes)
        in
        connection with such management and net of unreimbursed Servicing Fees,
        Advances, Servicing Advances and any management fee paid or to be paid with
        respect to the management of such Mortgaged Property, shall be applied to
        the
        payment of principal of, and interest on, the related defaulted Mortgage
        Loans
        (with interest accruing as though such Mortgage Loans were still current)
        and
        all such income shall be deemed, for all purposes in the Agreement, to be
        payments on account of principal and interest on the related Mortgage Notes
        and
        shall be deposited into the Protected Account. To the extent the income received
        during a Prepayment Period is in excess of the amount attributable to amortizing
        principal and accrued interest at the related Mortgage Rate on the related
        Mortgage Loan, such excess shall be considered to be a partial Principal
        Prepayment for all purposes hereof.

       

      The
        Liquidation Proceeds from any liquidation of a Mortgage Loan, net of any
        payment
        to the Master Servicer as provided above, shall be deposited in the Protected
        Account upon
        receipt and made available on
        the
        next succeeding Determination Date following receipt thereof for distribution
        on
        the related Distribution Date, except that any Excess Liquidation Proceeds
        shall
        be retained by the Master Servicer as additional servicing
        compensation.

       

      The
        proceeds of any Liquidated Loan, as well as any recovery resulting from a
        partial collection of Liquidation Proceeds or any income from an REO Property,
        will be applied in the following order of priority: first, to reimburse the
        Master Servicer for any related unreimbursed Servicing Advances and Servicing
        Fees, pursuant to Section 4.02 or this Section 3.09; second, to reimburse
        the
        Master Servicer for any unreimbursed Advances, pursuant to Section 4.02 or
        this
        Section 3.09; third, to accrued and unpaid interest (to the extent no Advance
        has been made for such amount) on the Mortgage Loan or related REO Property,
        at
        the Net Mortgage Rate to the first day of the month in which such amounts
        are
        required to be distributed; and fourth, as a recovery of principal of the
        Mortgage Loan.

       

      (b) On
        each
        Determination Date, the Master Servicer shall determine the respective aggregate
        amounts of Excess Liquidation Proceeds and Realized Losses, if any, for the
        related Prepayment Period.

       

      (c) The
        Master Servicer has no intent to foreclose on any Mortgage Loan based on
        the
        delinquency characteristics as of the Closing Date; provided, that the foregoing
        does not prevent the Master Servicer from initiating foreclosure proceedings
        on
        any date hereafter if the facts and circumstances of such Mortgage Loans
        including delinquency characteristics in the Master Servicer’s discretion so
        warrant such action.

       

      Section
        3.10 Servicing
        Compensation. 

       

      As
        compensation for its activities hereunder, the Master Servicer shall be entitled
        to retain or withdraw from the Protected Account out of each payment of interest
        on a Mortgage Loan included in the Trust Fund an amount equal to the Servicing
        Fee.

       

      Additional
        servicing compensation in the form of any Excess Liquidation Proceeds,
        assumption fees, late payment charges, all Prepayment Interest Excess on
        any
        Mortgage Loan, other ancillary income, all income and gain net of any losses
        realized from Permitted Investments with respect to funds in or credited
        to the
        Protected Account shall be retained by the Master Servicer to the extent
        not
        required to be deposited in the Protected Account pursuant to Section 4.02.
        The
        Master Servicer shall be required to pay all expenses incurred by it in
        connection with its servicing activities hereunder (including payment of
        any
        premiums for hazard insurance, as required by Section 3.05 and maintenance
        of
        the other forms of insurance coverage required by Section 3.07) and shall
        not be
        entitled to reimbursement therefor except as specifically provided in Section
        4.02.

       

      Section
        3.11 REO
        Property. 

       

      (a) In
        the
        event the Trust Fund acquires ownership of any REO Property in respect of
        any
        related Mortgage Loan, the deed or certificate of sale shall be issued to
        the
        Trustee, or to its nominee, on behalf of the related Certificateholders.
        The
        Master Servicer shall sell any REO Property as expeditiously as possible
        and in
        accordance with the provisions of this Agreement. Pursuant to its efforts
        to
        sell such REO Property, the Master Servicer shall protect and conserve such
        REO
        Property in the manner and to the extent required herein, in accordance with
        the
        REMIC Provisions.

       

      (b) The
        Master Servicer shall deposit all funds collected and received in connection
        with the operation of any REO Property into the Protected Account.

       

      (c) The
        Master Servicer, upon the final disposition of any REO Property, shall be
        entitled to reimbursement for any related unreimbursed Advances, unreimbursed
        Servicing Advances or Servicing Fees from Liquidation Proceeds received in
        connection with the final disposition of such REO Property; provided, that
        any
        such unreimbursed Advances or Servicing Fees as well as any unpaid Servicing
        Fees may be reimbursed or paid, as the case may be, prior to final disposition,
        out of any net rental income or other net amounts derived from such REO
        Property.

       

      Section
        3.12 Liquidation
        Reports. 

       

      Upon
        the
        foreclosure of any Mortgaged Property or the acquisition thereof by the Trust
        Fund pursuant to a deed-in-lieu of foreclosure, the Master Servicer shall
        submit
        a liquidation report to the Trustee containing such information as shall
        be
        mutually acceptable to the Master Servicer and the Trustee with respect to
        such
        Mortgaged Property.

       

      Section
        3.13 Annual
        Statement as to Compliance. 

       

      The
        Master Servicer and the Trustee shall deliver to the Master Servicer, the
        Depositor and the Trustee, not later than March 15th
        of each
        calendar year beginning in 2007, an Officer’s Certificate (an “Annual Statement
        of Compliance”) stating, as to each signatory thereof, that (i) a review of the
        activities of each such party during the preceding calendar year and of its
        performance under this Agreement has been made under such officer’s supervision
        and (ii) to the best of such officer’s knowledge, based on such review, each
        such party has fulfilled all of its obligations under this Agreement in all
        material respects throughout such year, or, if there has been a failure to
        fulfill any such obligation in any material respect, specifying each such
        failure known to such officer and the nature and status of cure provisions
        thereof. Such Annual Statement of Compliance shall contain no restrictions
        or
        limitations on its use. In the event that the Master Servicer has delegated
        any
        servicing responsibilities with respect to the Mortgage Loans to a subservicer
        or subcontractor, such servicer or subcontractor shall deliver a similar
        Annual
        Statement of Compliance by such subservicer or subcontractor to the Master
        Servicer, the Depositor and the Trustee as described above as and when required
        with respect to the Master Servicer.

       

      Failure
        of the Master Servicer to comply with this Section 3.13 (including
        with respect to the time frames required in this Section)
        shall be
        deemed an Event of Default with respect to such party, and the Trustee at
        the
        direction of the Depositor shall, in addition to whatever rights the Trustee
        may
        have under this Agreement and at law or equity or to damages, including
        injunctive relief and specific performance, upon notice immediately terminate
        all the rights and obligations of the Master Servicer under this Agreement
        and
        in and to the Mortgage Loans and the proceeds thereof without compensating
        the
        Master Servicer for the same. Failure of the Trustee to comply with this
        Section
        3.13 (including with respect to the time frames required in this Section)
        which
        failure results in a failure to timely file the Form 10-K shall be deemed
        a
        default which may result in the termination of the Trustee pursuant to Section
        9.08 of this Agreement and the Depositor may, in addition to whatever rights
        the
        Depositor may have under this Agreement and at law or in equity or to damages,
        including injunctive relief and specific performance, upon notice immediately
        terminate all of the rights and obligations of the Trustee under this Agreement
        and in and to the Mortgage Loans and the proceeds thereof without compensating
        the Trustee for the same. This paragraph shall supersede any other provision
        in
        this Agreement or any other agreement to the contrary.

       

      Section
        3.14 Assessments
        of Compliance and Attestation Reports. 

       

      The
        Master Servicer shall service and administer the Mortgage Loans in accordance
        with all applicable requirements of the Servicing Criteria. Pursuant to Rules
        13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB, the
        Master
        Servicer, the Trustee and the Custodian (each, an “Attesting Party”) shall
        deliver to the Trustee, the Master Servicer and the Depositor on or before
        March
15th
        of
        each
        calendar year beginning in 2007, a report signed by an authorized officer
        of
        such party regarding such Attesting Party’s assessment of compliance (an
“Assessment of Compliance”) with the Servicing Criteria during the preceding
        calendar year. The Assessment of Compliance, as set forth in Regulation AB,
        must
        contain the following:

       

      (a) A
        statement by such officer of its responsibility for assessing compliance
        with
        the Servicing Criteria applicable to the related Attesting Party;

       

      (b) A
        statement by such officer that such Attesting Party used the Servicing Criteria
        attached as Exhibit P hereto, and which will also be attached to the Assessment
        of Compliance, to assess compliance with the Servicing Criteria applicable
        to
        the related Attesting Party;

       

      (c) An
        assessment by such officer of the related Attesting Party’s compliance with the
        applicable Servicing Criteria for the period consisting of the preceding
        calendar year, including disclosure of any material instance of noncompliance
        with respect thereto during such period, which assessment shall be based
        on the
        activities such Attesting Party performs with respect to asset-backed securities
        transactions taken as a whole involving the related Attesting Party, that
        are
        backed by the same asset type as the Mortgage Loans;

       

      (d) A
        statement that a registered public accounting firm has issued an attestation
        report on the related Attesting Party’s Assessment of Compliance for the period
        consisting of the preceding calendar year; and

       

      (e) A
        statement as to which of the Servicing Criteria, if any, are not applicable
        to
        such Attesting Party, which statement shall be based on the activities such
        Attesting Party performs with respect to asset-backed securities transactions
        taken as a whole involving such Attesting Party, that are backed by the same
        asset type as the Mortgage Loans.

       

      Such
        report at a minimum shall address each of the Servicing Criteria specified
        on
        Exhibit P hereto which are indicated as applicable to the related Attesting
        Party.

       

      On
        or
        before March 15th of each calendar year beginning in 2007, each Attesting
        Party
        shall furnish to the Master Servicer, the Depositor and the Trustee a report
        (an
“Attestation Report”) by a registered public accounting firm that attests to,
        and reports on, the Assessment of Compliance made by the related Attesting
        Party, as required by Rules 13a-18 and 15d-18 of the Exchange Act and Item
        1122(b) of Regulation AB, which Attestation Report must be made in accordance
        with standards for attestation reports issued or adopted by the Public Company
        Accounting Oversight Board. 

       

      The
        Master Servicer shall cause any subservicer and each subcontractor determined
        by
        it to be “participating in the servicing function” within the meaning of Item
        1122 of Regulation AB, to deliver to the Trustee, the Master Servicer and
        the
        Depositor an Assessment of Compliance and Attestation Report as and when
        provided above along with an indication of what Servicing Criteria are addressed
        in such assessment.

       

      The
        Trustee shall confirm that the assessments, taken as a whole, address all
        of the
        Servicing Criteria and taken individually address the Servicing Criteria
        for
        each party as set forth on Exhibit P and notify the Depositor of any exceptions.
        Notwithstanding the foregoing, as to any subcontractor (as defined in the
        related servicing agreement), an Assessment of Compliance is not required
        to be
        delivered unless it is required as part of a Form 10-K with respect to the
        Trust
        Fund.

       

      Failure
        of the Master Servicer to comply with this Section 3.14 (including with respect
        to the time frames required in this Section) shall be deemed an Event of
        Default, and the Trustee at the direction of the Depositor shall, in addition
        to
        whatever rights the Trustee may have under this Agreement and at law or in
        equity or to damages, including injunctive relief and specific performance,
        upon
        notice immediately terminate all the rights and obligations of the Master
        Servicer under this Agreement and in and to the Mortgage Loans and the proceeds
        thereof without compensating the Master Servicer for the same. This paragraph
        shall supersede any other provision in this Agreement or any other agreement
        to
        the contrary.

       

      The
        Trustee shall also provide an Assessment of Compliance and Attestation Report,
        as and when provided above, which shall at a minimum address each of the
        Servicing Criteria specified on Exhibit P hereto which are indicated as
        applicable to the “trustee.” In addition, the Trustee shall cause the Custodian
        to deliver to the Trustee and the Depositor an Assessment of Compliance and
        Attestation Report, as and when provided above, which shall at a minimum
        address
        each of the Servicing Criteria specified on Exhibit P hereto which are indicated
        as applicable to a “custodian.” Notwithstanding the foregoing, as to the Trustee
        and any Custodian, an Assessment of Compliance is not required to be delivered
        unless it is required as part of a Form 10-K with respect to the Trust
        Fund.

       

      Section
        3.15 Books
        and Records. 

       

      The
        Master Servicer shall be responsible for maintaining, and shall maintain,
        a
        complete set of books and records for the Mortgage Loans which shall be
        appropriately identified in the Master Servicer’s computer system to clearly
        reflect the ownership of the Mortgage Loans by the Trust. In particular,
        the
        Master Servicer shall maintain in its possession, available for inspection
        by
        the Trustee and shall deliver to the Trustee upon demand, evidence of compliance
        with all federal, state and local laws, rules and regulations. To the extent
        that original documents are not required for purposes of realization of
        Liquidation Proceeds or Insurance Proceeds, documents maintained by the Master
        Servicer may be in the form of microfilm or microfiche or such other reliable
        means of recreating original documents, including, but not limited to, optical
        imagery techniques so long as the Master Servicer complies with the requirements
        of Accepted Servicing Practices.

       

      The
        Master Servicer shall maintain with respect to each Mortgage Loan and shall
        make
        available for inspection by the Trustee the related servicing file during
        the
        time such Mortgage Loan is subject to this Agreement and thereafter in
        accordance with applicable law.

       

      Payments
        on the Mortgage Loans, including any payoffs, made in accordance with the
        related Mortgage File will be entered in the Master Servicer’s set of books and
        records no more than two Business Days after receipt and identification,
        and
        allocated to principal or interest as specified in the related Mortgage
        File.

       

      Section
        3.16 Reports
        Filed with Securities and Exchange Commission.

       

      (a) (i) Within
        15
        days after each Distribution Date, the Trustee shall, in accordance with
        industry standards, prepare and file with the Commission via the Electronic
        Data
        Gathering and Retrieval System (“EDGAR”), a Form 10-D, signed by the Master
        Servicer, with a copy of the Monthly Statement to be furnished by the Trustee
        to
        the Certificateholders for such Distribution Date; provided that the Trustee
        shall have received no later than seven (7) calendar days after the related
        Distribution Date, all information required to be provided to the Trustee
        as
        described in clause (a)(ii) below. Any disclosure in addition to the Monthly
        Statement that is required to be included on Form 10-D (“Additional Form 10-D
        Disclosure”) shall
        be,
        pursuant to the paragraph immediately below, reported by the parties set
        forth
        on Exhibit Q to the Trustee and the Depositor and approved by the Depositor,
        and
        the Trustee will have no duty or liability for any failure hereunder to
        determine or prepare any Additional Form 10-D Disclosure absent such reporting
        (other than with respect to when it is the reporting party as set forth in
        Exhibit Q) and approval.

       

      (ii) (A)
        Within
        seven (7) calendar days after the related Distribution Date, (i) the parties
        set
        forth in Exhibit Q shall be required to provide, pursuant to section 3.16(a)(v)
        below, to the Trustee and the Depositor, to the extent known, in
        EDGAR-compatible format, or in such other form as otherwise agreed upon by
        the
        Trustee and the Depositor and such party, the form and substance of any
        Additional Form 10-D Disclosure, if applicable, 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
        Depositor will be responsible for any reasonable out-of-pocket expenses incurred
        by the Trustee in
        connection with including any Additional Form 10-D Disclosure on Form 10-D
        pursuant to this Section.
        

       

      (B) After
        preparing the Form 10-D, the Trustee shall forward electronically a draft
        copy
        of the Form 10-D to the Depositor and the Master Servicer for review. No
        later
        than two (2) Business Days prior to the 15th calendar day after the related
        Distribution Date, a senior officer of the Master Servicer in charge of the
        servicing function shall sign the Form 10-D and return an electronic or fax
        copy
        of such signed Form 10-D (with an original executed hard copy to follow by
        overnight mail) to the Trustee. 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 Section 3.16(a)(vi). Promptly (but no later than
        one (1)
        Business Day) after filing with the Commission, the Trustee will make available
        on its internet website identified in Section 5.06 a final executed copy
        of each
        Form 10-D. The signing party at the Master Servicer can be contacted at
        972-444-2828. 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 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 the Depositor’s representations in Section 2.04(vi) in preparing and/or
        filing any such Form 10-D. The parties to this Agreement acknowledge that
        the
        performance by the Trustee of its duties under Sections 3.16(a)(i) and (vi)
        related to the timely preparation and filing of Form 10-D is contingent upon
        such parties strictly observing all applicable deadlines in the performance
        of
        their duties under such Sections. It is understood by the parties hereto
        that
        the performance by the Trustee of its duties under this Section 3.16(a)(ii)
        related to the timely preparation, execution and filing of Form 10-D is also
        contingent upon the Custodian and any subservicers or subcontractors strictly
        observing deadlines no later than those set forth in this paragraph that
        are
        applicable to the parties to this Agreement in the delivery to the Trustee
        of
        any necessary Additional Form 10-D Disclosure pursuant to the Custodial
        Agreement or any other applicable agreement. 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, not resulting from its own negligence,
        bad
        faith or willful misconduct.
        Subject
        to the foregoing, the Trustee has no duty under this Agreement to monitor
        or
        enforce the performance by the other parties listed on Exhibit Q of their
        duties
        under this paragraph or to proactively solicit or procure from such parties
        any
        Additional Form 10-D Disclosure information.

       

      (iii) (A)
        Within
        four (4) Business Days after the occurrence of an event requiring disclosure
        on
        Form 8-K (each such event, a “Reportable Event”), the Trustee shall prepare and
        file, at the direction of the Depositor, on behalf of the Trust any 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 on Form 8-K (“Form 8-K Disclosure Information”) shall
        be, pursuant to the paragraph immediately below, reported by the parties
        set
        forth on Exhibit Q to the Trustee and the Depositor and approved by the
        Depositor, and the Trustee will have no duty or liability for any failure
        hereunder to determine or prepare any Additional Form 8-K Disclosure absent
        such
        reporting (other than with respect to when it is the reporting party as set
        forth in Exhibit Q) and approval.

       

      (B) For
        so
        long as the Trust is subject to the Exchange Act reporting requirements,
        no
        later than 12:00 p.m. New York City time on the 2nd Business Day after the
        occurrence of a Reportable Event (i) the parties set forth in Exhibit Q shall
        be
        required pursuant to Section 3.16(a)(v) below to provide to the Trustee and
        the
        Depositor, to the extent known, in EDGAR-compatible format, or in such other
        form as otherwise agreed upon by the Trustee and the Depositor and such party,
        the form and substance of any Form 8-K Disclosure Information, if applicable,
        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 on
        Form
        8-K. The
        Depositor will be responsible for any reasonable out-of-pocket expenses incurred
        by the Trustee in connection with including any Form 8-K Disclosure Information
        on Form 8-K pursuant to this Section.
        

       

      (C) After
        preparing the Form 8-K, the Trustee shall forward electronically a draft
        copy of
        the Form 8-K to the Depositor and the Master Servicer for review. No later
        than
        the end of business New York City time on the 3rd Business Day after the
        Reportable Event, a senior officer of the Master Servicer shall sign the
        Form
        8-K and return an electronic or fax copy of such signed Form 8-K (with an
        original executed hard copy to follow by overnight mail) to the Trustee.
        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 Section
        3.16(a)(vi). Promptly (but no later than one (1) Business Day) after filing
        with
        the Commission, the Trustee will, make available on its internet website
        identified in Section 5.06 a final executed copy of each Form 8-K. The signing
        party at the Master Servicer can be contacted at 972-444-2828. The parties
        to
        this Agreement acknowledge that the performance by the Trustee of its duties
        under this Section 3.16(a)(iii) related to the timely preparation 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 3.16(a)(iii).
        It
        is understood by the parties hereto that the performance by the Trustee of
        its
        duties under this Section 3.16(a)(iii) related to the timely preparation,
        execution and filing of Form 8-K is also contingent upon the the Custodian
        and
        any subservicers or subcontractors strictly observing deadlines no later
        than
        those set forth in this paragraph that are applicable to the parties to this
        Agreement in the delivery to the Trustee of any necessary Form 8-K Disclosure
        Information pursuant to the Custodial Agreement or any other applicable
        agreement. 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 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.
        Subject to the foregoing, the Trustee has no duty under this Agreement to
        monitor or enforce the performance by the other parties listed on Exhibit
        Q of
        their duties under this paragraph or to proactively solicit or procure from
        such
        parties any Additional Form 8-K Disclosure information.

       

      (iv) (A)
        Within
        90 days after the end of each fiscal year of the Trust 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 ends on December 31st of each
        year), commencing in March 2007, the Trustee shall prepare and file on behalf
        of
        the Trust 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, (I) an annual compliance statement for the Master
        Servicer and any subservicer, as described under Section 3.13, (II)(A) the
        annual reports on assessment of compliance with Servicing Criteria for the
        Master Servicer, each subservicer and subcontractor participating in the
        servicing function, the Trustee and the Custodian, as described under Section
        3.14, and (B) if the Master Servicer’s, the Trustee’s or the Custodian’s report
        on assessment of compliance with servicing criteria described under Section
        3.14
        identifies any material instance of noncompliance, disclosure identifying
        such
        instance of noncompliance, or if the Master Servicer’s, the Trustee’s or the
        Custodian’s report on assessment of compliance with Servicing Criteria described
        under Section 3.14 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
        the Master Servicer, the Trustee and the Custodian, as described under Section
        3.14, and (B) if any registered public accounting firm attestation report
        described under Section 3.14 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
        (“Sarbanes-Oxley Certification”) as described in this Section 3.16 (a)(iv)(D)
        below. 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, pursuant to the paragraph immediately below, reported by the parties
        set forth on Exhibit Q to the Trustee and the Depositor and approved by the
        Depositor, and the Trustee will have no duty or liability for any failure
        hereunder to determine or prepare any Additional Form 10-K Disclosure absent
        such reporting (other than with respect to when it is the reporting party
        as set
        forth in Exhibit Q) and approval.

       

      (B) No
        later
        than March 15th of each year that the Trust is subject to the Exchange Act
        reporting requirements, commencing in 2007, (i) the parties set forth in
        Exhibit
        Q shall be required to provide pursuant to Section 3.16(a)(v) below to the
        Trustee and the Depositor, to the extent known, in EDGAR-compatible format,
        or
        in such other form as otherwise agreed upon by the Trustee and the Depositor
        and
        such party, the form and substance of any Additional Form 10-K Disclosure,
        if
        applicable, 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 Depositor will be responsible for any reasonable
        out-of-pocket expenses incurred by the Trustee in connection with including
        any
        Form 10-K Disclosure Information on Form 10-K pursuant to this
        Section.

       

      (C) After
        preparing the Form 10-K, the Trustee shall forward electronically a draft
        copy
        of the Form 10-K to the Depositor and the Master Servicer for review. 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 shall notify the
        Trustee
        in writing, no later than the fifteenth calendar day of March in any year
        in
        which the Trust is subject to the reporting requirements of the Exchange
        Act, if
        the answer to the questions should be "no." The
        Trustee shall be entitled to rely on the Depositor’s representations in Section
        2.04(vi) in preparing and/or filing any such Form 10-K. No
        later
        than 12:00 p.m. New York City time on the 4th Business Day prior to the 10-K
        Filing Deadline, a senior officer of the Master Servicer shall sign the Form
        10-K and return an electronic or fax copy of such signed Form 10-K (with
        an
        original executed hard copy to follow by overnight mail) to the Trustee.
        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 Section
        3.16(a)(vi). Promptly (but no later than one (1) Business Day) after filing
        with
        the Commission, the Trustee will make available on its internet website
        identified in Section 5.06 a final executed copy of each Form 10-K. The signing
        party at the Master Servicer can be contacted at 972-444-2828. The parties
        to
        this Agreement acknowledge that the performance by the Trustee of its duties
        under Sections 3.16(a)(iv) related to the timely preparation and filing of
        Form
        10-K is contingent upon such parties strictly observing all applicable deadlines
        in the performance of their duties under such Sections, Section 3.13 and
        Section
        3.14. It is understood by the parties hereto that the performance by the
        Trustee
        of its duties under this Section 3.16(a)(iv) related to the timely preparation,
        execution and filing of Form 10-K is also contingent upon the the Custodian
        and
        any subservicer or subcontractor strictly observing deadlines no later than
        those set forth in this paragraph that are applicable to the parties to this
        Agreement in the delivery to the Trustee of any necessary Additional Form
        10-K
        Disclosure, any annual statement of compliance and any assessment of compliance
        and attestation pursuant to the Custodial Agreement or any other applicable
        agreement. 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-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, not resulting from its own negligence, bad faith or willful misconduct.
        Subject to the foregoing, the Trustee has no duty under this Agreement to
        monitor or enforce the performance by the other parties listed on Exhibit
        Q of
        their duties under this paragraph or to proactively solicit or procure from
        such
        parties any Additional Form 10-K Disclosure information.

       

      (D) Each
        Form
        10-K shall include a certification (the “Sarbanes-Oxley Certification”) required
        to be included therewith pursuant to the Sarbanes-Oxley Act. The Trustee
        shall,
        and the Master Servicer shall cause any subservicer or subcontractor engaged
        by
        it to, provide to the Person who signs the Sarbanes-Oxley Certification (the
        “Certifying Person”), by March 15 of each year in which the Trust 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 attached hereto as Exhibit K, 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; provided, however, that the
        Trustee shall not be required to undertake an analysis of any accountant’s
        report attached as an exhibit to the Form 10-K. The senior officer of the
        Master
        Servicer shall serve as the Certifying Person on behalf of the Trust. Such
        officer of the Certifying Person can be contacted at 972-444-2828. In the
        event
        the Trustee is terminated or resigns pursuant to the terms of this Agreement,
        the Trustee shall provide a Back-Up Certification to the Certifying Person
        pursuant to this Section 3.16(a)(iv) with respect to the period of time it
        was
        subject to this Agreement.

       

      (v) With
        respect to any Additional Form 10-D Disclosure, Additional Form 10-K Disclosure
        or any Form 8-K Disclosure Information (collectively, the “Additional
        Disclosure”) relating to the Trust Fund in the form attached hereto as Exhibit
        R, the Trustee’s obligation to include such Additional Information in the
        applicable Exchange Act report is subject to receipt from the entity that
        is
        indicated in Exhibit Q as the responsible party for providing that information,
        if other than the Trustee, as and when required as described in Section
        3.16(a)(i) through (iv) above. Each of the Master Servicer, Seller, and
        Depositor hereby agree to notify and provide to the extent known to the Trustee
        and the Depositor all Additional Disclosure relating to the Trust Fund, with
        respect to which such party is indicated in Exhibit Q as the responsible
        party
        for providing that information. Within
        five Business Days prior to each Distribution Date occurring in any year
        that
        the Trust is subject to the Exchange Act reporting requirements, the Depositor
        shall make available to the Trustee the related Significance Estimate and
        the
        Trustee shall use such information to calculate the related Significance
        Percentage. If the Significance Percentage meets either of the threshold
        levels
        detailed in Item 1115(b)(1) or 1115(b)(2) of Regulation AB, the Trustee shall
        deliver written notification to the Depositor and the related Swap Provider
        to
        that effect. The
        Trustee shall request from the Depositor and the Depositor shall deliver
        to the
        Trustee any information that the Swap Provider delivered to the Depositor
        as
        required under Regulation AB, to the extent required under the Swap Agreement.
        The Depositor will be obligated pursuant to the Swap Agreement to provide
        to the
        Trustee (no later than, in the case of Form 10-D, the seventh calendar day
        after
        the Distribution Date and in the case of Form 10-K, March 15th
        in any
        year in which a Form 10-K is filed for the Trust) any information that may
        be
        required to be included in any Form 10-D, Form 8-K or Form 10-K or written
        notification instructing the Trustee that such Additional Disclosure regarding
        the Swap Provider is not necessary for such Distribution Date. The
        Master Servicer shall be responsible for determining the pool concentration
        applicable to any subservicer or originator at any time.

       

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

       

      (B) In
        the
        event that the Trustee is unable to timely file with the Commission all or
        any
        required portion of any Forms 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 immediately notify the Depositor and
        the
        Master Servicer. In the case of Forms 10-D and 10-K, the Depositor, Master
        Servicer and Trustee 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 will, 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
        any
        previously filed Forms 8-K, 10-D or 10-K needs to be amended, the Trustee
        will
        notify the Depositor and the Master Servicer and such parties will cooperate
        to
        prepare any necessary 8-K/A, 10-D/A or 10-K/A. Any Form 15, Form 12b-25 or
        any
        amendment to Forms 8-K, 10-D or 10-K shall be signed by a senior officer
        of the
        Master Servicer. The Depositor and Master Servicer acknowledge that the
        performance by the Trustee of its duties under this Section 3.16(a)(vi) related
        to the timely preparation and filing of Form 15, a Form 12b-25 or any amendment
        to Forms 8-K, 10-D or 10-K is contingent upon the Master Servicer and the
        Depositor performing their duties under this Section. 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 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 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,
        not resulting from its own negligence, bad faith or willful
        misconduct.

       

      The
        Depositor agrees to promptly furnish to the Trustee, from time to time upon
        request, such further information, reports and financial statements within
        its
        control related to this Agreement, the Mortgage Loans as the Trustee reasonably
        deems appropriate to prepare and file all necessary reports with the Commission.
        The Trustee shall have no responsibility to file any items other than those
        specified in this Section 3.16; provided, however, the Trustee shall cooperate
        with the Depositor in connection with any additional filings with respect
        to the
        Trust Fund as the Depositor deems necessary under the Exchange Act. Copies
        of
        all reports filed by the Trustee under the Exchange Act shall be sent to:
        the
        Depositor c/o Bear, Stearns & Co. Inc., Attn: Managing Director Analysis and
        Control, One Metrotech Center North, Brooklyn, New York 11202-3859. Fees
        and
        expenses incurred by the Trustee in connection with this Section 3.16 shall
        not
        be reimbursable from the Trust Fund.

       

      (b) In
        connection with the filing of any 10-K hereunder, the Trustee shall sign
        a
        Back-Up Certification substantially in the form attached hereto as Exhibit
        K for
        the Depositor regarding certain aspects of the Form 10-K certification signed
        by
        the Master Servicer; provided, however, the Trustee shall not be required
        to
        undertake an analysis of any accountant’s report attached as an exhibit to the
        Form 10-K.

       

      (c) The
        Trustee shall indemnify and hold harmless, the Depositor and the Master Servicer
        and each of its officers, directors and affiliates from and against any losses,
        damages, penalties, fines, forfeitures, reasonable and necessary legal fees
        and
        related costs, judgments and other costs and expenses arising out of or based
        upon a breach of the Trustee’s obligations under Sections 3.13, 3.14 and 3.16 or
        the Trustee’s negligence, bad faith or willful misconduct in connection
        therewith. In addition, the Trustee shall indemnify and hold harmless the
        Depositor and the Master Servicer and each of their officers, directors and
        affiliates from and against any losses, damages, penalties, fines, forfeitures,
        reasonable and necessary legal fees and related costs, judgments and other
        costs
        and expenses arising out of or based upon (i) any untrue statement or alleged
        untrue statement of any material fact contained in any Back-Up Certification,
        the Annual Statement of Compliance, the Assessment of Compliance, any Additional
        Disclosure or other information provided by the Trustee pursuant to Section
        3.13, 3.14 and 3.16 (the “Trustee Information”), or (ii) the omission or alleged
        omission to state therein a material fact required to be stated therein or
        necessary to make the statements therein, in light of the circumstances in
        which
        they were made, not misleading; provided, by way of clarification, that clause
        (ii) of this paragraph shall be construed solely by reference to the Trustee
        Information and not to any other information communicated in connection with
        the
        Certificates, without regard to whether the Trustee Information or any portion
        thereof is presented together with or separately from such other
        information.

       

      (d) The
        Depositor shall indemnify and hold harmless the Trustee and its officers,
        directors and affiliates from and against any losses, damages, penalties,
        fines,
        forfeitures, reasonable and necessary legal fees and related costs, judgments
        and other costs and expenses arising out of or based upon a breach of the
        obligations of the Depositor under Section 3.13, Section 3.14 and Section
        3.16
        or the Depositor’s negligence, bad faith or willful misconduct in connection
        therewith. In addition, the Depositor shall indemnify and hold harmless the
        Trustee and each of its officers, directors and affiliates from and against
        any
        losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal
        fees and related costs, judgments and other costs and expenses arising out
        of or
        based upon (i) any untrue statement or alleged untrue statement of any material
        fact contained in any Additional Disclosure or other information provided
        by the
        Depositor pursuant to Section 3.16 (the “Depositor Information”), or (ii) the
        omission or alleged omission to state therein a material fact required to
        be
        stated therein or necessary to make the statements therein, in light of the
        circumstances in which they were made, not misleading; provided, by way of
        clarification, that clause (ii) of this paragraph shall be construed solely
        by
        reference to the Depositor Information and not to any other information
        communicated in connection with the Certificates, without regard to whether
        the
        Depositor Information or any portion thereof is presented together with or
        separately from such other information.

       

      (e) The
        Master Servicer shall indemnify and hold harmless the Trustee and the Depositor
        and their respective officers, directors and affiliates from and against
        any
        losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal
        fees and related costs, judgments and other costs and expenses arising out
        of or
        based upon a breach of the obligations of the Master Servicer under Section
        3.13, Section 3.14 and Section 3.16 or the Master Servicer’s negligence, bad
        faith or willful misconduct in connection therewith. In addition, the Master
        Servicer shall indemnify and hold harmless the Trustee and the Depositor
        and
        each of its officers, directors and affiliates from and against any losses,
        damages, penalties, fines, forfeitures, reasonable and necessary legal fees
        and
        related costs, judgments and other costs and expenses arising out of or based
        upon (i) any untrue statement or alleged untrue statement of any material
        fact
        contained in any Sarbanes-Oxley Certification, the Annual Statement of
        Compliance, the Assessment of Compliance, any Additional Disclosure or other
        information provided by the Master Servicer pursuant to Section 3.13, 3.14
        and
        3.16 (the “Master Servicer Information”), or (ii) the omission or alleged
        omission to state therein a material fact required to be stated therein or
        necessary to make the statements therein, in light of the circumstances in
        which
        they were made, not misleading; provided, by way of clarification, that clause
        (ii) of this paragraph shall be construed solely by reference to the Master
        Servicer Information and not to any other information communicated in connection
        with the Certificates, without regard to whether the Master Servicer Information
        or any portion thereof is presented together with or separately from such
        other
        information.

       

      If
        the
        indemnification provided for herein is unavailable or insufficient to hold
        harmless the Master Servicer, Depositor or the Trustee, as applicable, then
        the
        defaulting party, in connection with a breach of its respective obligations
        under Section 3.13, Section 3.14 and Section 3.16 or its respective negligence,
        bad faith or willful misconduct in connection therewith, agrees that it shall
        contribute to the amount paid or payable by the other parties as a result
        of the
        losses, claims, damages or liabilities of the other party in such proportion
        as
        is appropriate to reflect the relative fault and the relative benefit of
        the
        respective parties.

       

      (f) Nothing
        shall be construed from the foregoing subsections (a), (b) and (c) to require
        the Trustee or any officer, director or Affiliate thereof to sign any Form
        10-K
        or any certification contained therein. Furthermore, the inability of the
        Trustee to file a Form 10-K as a result of the lack of required information
        as
        set forth in Section 3.16(a) or required signatures on such Form 10-K or
        any
        certification contained therein shall not be regarded as a breach by the
        Trustee
        of any obligation under this Agreement.

       

      (g) Notwithstanding
        the provisions of Section 11.01, this Section 3.16 may be amended without
        the
        consent of the Certificateholders.

       

      Section
        3.17 Intention
        of the Parties and Interpretation. 

       

      Each
        of
        the parties acknowledges and agrees that the purpose of Sections 3.13, 3.14
        and
        3.16 of this Agreement is to facilitate compliance by the Seller and the
        Depositor with the provisions of Regulation AB. 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 reasonable requests made by the Seller, the Trustee
        or
        the Depositor for delivery of additional or different information as the
        Seller,
        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
        3.18 UCC. 

       

      The
        Seller shall file any financing statements, continuation statements or
        amendments thereto required by any change in the Uniform Commercial
        Code.

       

      Section
        3.19 Optional
        Purchase of Certain Mortgage Loans. 

       

      With
        respect to any Mortgage Loans which as of the first day of a Fiscal Quarter
        is
        delinquent in payment by 90 days or more or is an REO Property, the Seller
        shall
        have the right to purchase any Mortgage Loan from the Trust which becomes
        90
        days or more delinquent or becomes an REO Property at a price equal to the
        Purchase Price; provided however (i) that such Mortgage Loan is still 90
        days or
        more delinquent or is an REO Property as of the date of such purchase and
        (ii)
        this purchase option, if not theretofore exercised, shall terminate on the
        date
        prior to the last day of the related Fiscal Quarter. This purchase option,
        if
        not exercised, shall not be thereafter reinstated unless the delinquency
        is
        cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent
        or becomes an REO Property, in which case the option shall again become
        exercisable as of the first day of the related Fiscal Quarter.

       

      In
        addition, the Seller shall, at its option, purchase any Mortgage Loan from
        the
        Trust if the first Due Date for such Mortgage Loan is subsequent to the Cut-off
        Date and the initial Scheduled Payment is not made within thirty (30) days
        of
        such Due Date. Such purchase shall be made at a price equal to the Purchase
        Price.

       

      If
        at any
        time the Seller remits to the Master Servicer a payment for deposit in the
        Protected Account covering the amount of the Purchase Price for such a Mortgage
        Loan, and the Seller provides to the Trustee a certification signed by a
        Servicing Officer stating that the amount of such payment has been deposited
        in
        the Protected Account, then the Trustee shall execute the assignment of such
        Mortgage Loan prepared and delivered to the Trustee, at the request of the
        Seller, without recourse, representation or warranty, to the Seller which
        shall
        succeed to all the Trustee’s right, title and interest in and to such Mortgage
        Loan, and all security and documents relative thereto. Such assignment shall
        be
        an assignment outright and not for security. The Seller will thereupon own
        such
        Mortgage, and all such security and documents, free of any further obligation
        to
        the Trustee or the Certificateholders with respect thereto.

       

      Section
        3.20 Obligations
        of the Master Servicer in Respect of Mortgage Rates and Scheduled
        Payments. 

       

      In
        the
        event that a shortfall in any collection on or liability with respect to
        any
        Mortgage Loan results from or is attributable to adjustments to Mortgage
        Rates,
        Scheduled Payments or Stated Principal Balances that were made by the Master
        Servicer in a manner not consistent with the terms of the related Mortgage
        Note
        and this Agreement, the Master Servicer, upon discovery or receipt of notice
        thereof, immediately shall deliver to the Trustee for deposit in the
        Distribution Account from its own funds the amount of any such shortfall
        and
        shall indemnify and hold harmless the Trust Fund, the Trustee, the Depositor
        and
        any successor Master Servicer in respect of any such liability. Such indemnities
        shall survive the termination or discharge of this Agreement. Notwithstanding
        the foregoing, this Section 3.20 shall not limit the ability of the Master
        Servicer to seek recovery of any such amounts from the related Mortgagor
        under
        the terms of the related Mortgage Note and Mortgage, to the extent permitted
        by
        applicable law.

       

      Section
        3.21 Reserve
        Fund; Payments to and from Swap Administrator; Supplemental Interest
        Trust. 

       

      (a) As
        of the
        Closing Date, the Trustee shall establish and maintain in the name of the
        Supplemental Interest Trust, a separate trust for the benefit of the Holders
        of
        the Class A Certificates and Class M Certificates and the Swap Provider.
        The
        Supplemental Interest Trust shall hold the Swap Agreement, the Swap
        Administration Agreement and Swap Account. 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 moneys, including, without limitation,
        other moneys of the Trustee held pursuant to this Agreement. In performing
        its
        duties hereunder and under the Swap Agreement and Swap Administration Agreement,
        the Supplemental Interest Trust Trustee shall be entitled to the same rights,
        protections and indemnities as provided to the Trustee hereunder.

       

      (b) On
        or
        before the Closing Date, the Trustee shall establish a Reserve Fund on behalf
        of
        the Holders of the Certificates. On the Closing Date, the Depositor shall
        cause
        an amount equal to the Reserve Fund Deposit to be deposited into the Reserve
        Fund. The Reserve Fund must be an Eligible Account. The Reserve Fund shall
        be
        entitled “Reserve Fund, LaSalle Bank National Association as Trustee for the
        benefit of holders of Bear Stearns Asset Backed Securities I LLC, Asset-Backed
        Certificates, Series 2006-HE5”. The Trustee shall deposit in the Reserve Fund
        all payments received from the Swap Administrator that are payable to the
        Trust
        Fund pursuant to the Swap Administration Agreement. On each Distribution
        Date
        the Trustee shall remit such amounts received from the Swap Administrator
        to the
        Holders of the Class A Certificates and Class M Certificates in the manner
        provided in clause (d) below. In addition, on each Distribution Date as to
        which
        there is a Basis Risk Shortfall Carry Forward Amount payable to any Class
        of
        Class A Certificates and/or Class M Certificates, the Trustee shall deposit
        the
        amounts distributable pursuant to clauses (C) and (D) of Section 5.04(a)(4)
        into
        the Reserve Fund, and the Trustee has been directed by the Class CE
        Certificateholder to distribute amounts in respect of the Basis Risk Shortfall
        Carry Forward Amount to the Holders of the Class A and/or Class M Certificates
        in the priorities set forth in clauses (C) and (D) of Section 5.04(a)(4).
        Any
        amount paid to the Holders of Class A Certificates and/or Class M Certificates
        pursuant to the preceding sentence in respect of the Basis Risk Shortfall
        Carry
        Forward Amount from amounts distributable pursuant to clauses (C) and (D)
        of
        Section 5.04(a)(4) shall be treated as distributed to the Class CE
        Certificateholder in respect of the Class CE Certificates and paid by the
        Class
        CE Certificateholder to the Holders of the Class A Certificates and/or Class
        M
        Certificates. Any payments to the Holders of the Class A Certificates and/or
        Class M Certificates in respect of Basis Risk Shortfall Carry Forward Amount,
        whether pursuant to the second preceding sentence or pursuant to subsection
        (d)
        below, shall not be payments with respect to a Regular Interest in a REMIC
        within the meaning of Code Section 860(G)(a)(1).

       

      (c) Net
        Swap
        Payments and Swap Termination Payments (other than Swap Termination Payments
        resulting from a Swap Provider Trigger Event and to the extent not paid by
        the
        Swap Administrator on behalf of the Supplemental Interest Trust Trustee from
        any
        upfront payment received pursuant to any replacement interest rate swap
        agreement that may be entered into by the Supplemental Interest Trust Trustee)
        payable by the Swap Administrator, on behalf of the Supplemental Interest
        Trust
        Trustee, to the Swap Provider pursuant to the Swap Agreement shall be deducted
        from Interest Funds, and to the extent of any such remaining amounts due,
        from
        Principal Funds, prior to any distributions to the Certificateholders. On
        or
        before each Distribution Date, such amounts shall be remitted to the Swap
        Administrator, and deposited into the Swap Account, first to make any Net
        Swap
        Payment owed to the Swap Provider pursuant to the Swap Agreement for such
        Distribution Date and for prior Distribution Dates, if any, and second to
        make
        any Swap Termination Payment (not due to a Swap Provider Trigger Event and
        to
        the extent not paid by the Swap Administrator on behalf of the Supplemental
        Interest Trust Trustee from any upfront payment received pursuant to any
        replacement interest rate swap agreement that may be entered into by the
        Supplemental Interest Trust Trustee) owed to the Swap Provider pursuant to
        the
        Swap Agreement for such Distribution Date and for prior Distribution Dates,
        if
        any. For federal income tax purposes, such amounts paid to the Supplemental
        Interest Trust on each Distribution Date shall first be deemed paid to the
        Supplemental Interest Trust in respect of REMIC VI Regular Interest IO to the
        extent of the amount distributable on such REMIC VI Regular Interest IO on
        such
        Distribution Date, and any remaining amount shall be deemed paid to the
        Supplemental Interest Trust in respect of a Class IO Distribution Amount.
        Any
        Swap Termination Payment triggered by a Swap Provider Trigger Event owed
        to the
        Swap Provider pursuant to the Swap Agreement will be subordinated to
        distributions to the Holders of the Class A Certificates and Class M
        Certificates and shall be paid as set forth under Section 5.04(a)(4). In
        addition, the Swap Administrator shall remit to the Swap Provider any Swap
        Optional Termination Payment paid as part of the Mortgage Loan Purchase Price
        and remitted to the Supplemental Interest Trust pursuant to Section
        10.01.

       

      (d) On
        or
        before each Distribution Date, Net Swap Payments payable by the Swap Provider
        pursuant to the Swap Agreement to the Swap Administrator, on behalf of the
        Supplemental Interest Trust Trustee, will be deposited by the Swap
        Administrator, acting on behalf of the Supplemental Interest Trust Trustee,
        into
        the Swap Account pursuant to the Swap Administration Agreement. The Swap
        Administrator shall, to the extent provided in the Swap Administration
        Agreement, remit amounts on deposit in the Swap Account to the Trustee for
        deposit into the Reserve Fund. On each Distribution Date, to the extent
        required, the Trustee shall withdraw such amounts from the Reserve Fund to
        distribute to the Certificates in the following order of priority:

       

      (i) first,
        to each
        Class of Class A Certificates, on a pro
        rata
        basis,
        to pay Current Interest and any Interest Carry Forward Amount to the extent
        due
        to the interest portion of a Realized Loss, in each case to the extent not
        fully
        paid pursuant to Section 5.04(a)(1);

       

      (ii) second,
        sequentially to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5,
        Class
        M-6, Class M-7, Class M-8, Class M-9, Class M-10 and Class M-11 Certificates,
        in
        that order, to pay Current Interest to the extent not fully paid pursuant
        to
        Section 5.04(a)(1) and any Interest Carry Forward Amount to the extent due
        to
        the interest portion of a Realized Loss;

       

      (iii) third,
        to pay
        first, to each Class of Class A Certificates, on a pro
        rata
        basis,
        based on the amount of Basis Risk Shortfall Carry Forward Amount for each
        such
        Class, and second, sequentially to the Class M-1, Class M-2, Class M-3, Class
        M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10 and
        Class
        M-11 Certificates, in that order, any Basis Risk Shortfall Carry Forward
        Amounts
        for such Distribution Date; and

       

      (iv) fourth,
        to pay
        as principal to the Class A Certificates and Class M Certificates to be applied
        as part of the Extra Principal Distribution Amount payable under Section
        5.04(a)(2) to the extent that the Overcollateralization Amount is reduced
        below
        the Overcollateralization Target Amount, as a result of Realized Losses and
        to
        the extent not paid by Excess Spread pursuant to Section 5.04(a)(4) for such
        Distribution Date. For the avoidance of doubt, any amounts distributable
        pursuant to this clause (iv) shall be limited to rebuilding
        overcollateralization to the extent overcollateralization has been reduced
        through Realized Losses.

       

      (e) The
        Reserve Fund is an “outside reserve fund” within the meaning of Treasury
        Regulation Section 1.860G-2(h) and shall be an asset of the Trust Fund but
        not
        an asset of any REMIC. The Trustee on behalf of the Trust shall be the nominal
        owner of the Reserve Fund. The Class CE Certificateholder shall be the
        beneficial owner of the Reserve Fund, subject to the power of the Trustee
        to
        transfer amounts under Section 5.04. Amounts in the Reserve Fund shall, at
        the
        direction of the Class CE Certificateholder, be invested in Permitted
        Investments that mature no later than the Business Day prior to the next
        succeeding Distribution Date. All net income and gain from such investments
        shall be distributed to the Class CE Certificateholder, not as a distribution
        in
        respect of any interest in any REMIC, on such Distribution Date. All amounts
        earned on amounts on deposit in the Reserve Fund shall be taxable to the
        Class
        CE Certificateholder. Any losses on such investments shall be deposited in
        the
        Reserve Fund by the Class CE Certificateholder out of its own funds immediately
        as realized. The Swap Account, which is created and maintained by the Swap
        Administrator pursuant to the Swap Administration Agreement, is an “outside
        reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h) and
        shall not be an asset of any REMIC created hereunder. The beneficial owner
        of
        the Swap Account is identified, and other matters relating to the Swap Account
        are addressed, in the Swap Administration Agreement.

       

      (f) The
        Trustee shall treat the Holders of Certificates (other than the Class P,
        Class
        CE and Class R Certificates) as having entered into a notional principal
        contract with respect to the Holders of the Class CE Certificates. Pursuant
        to
        each such notional principal contract, all Holders of Certificates (other
        than
        the Class P, Class CE and Class R Certificates) shall be treated as having
        agreed to pay, on each Distribution Date, to the Holder of the Class CE
        Certificates an aggregate amount equal to the excess, if any, of (i) the
        amount
        payable on such Distribution Date on the REMIC III Regular Interest
        corresponding to such Class of Certificates over (ii) the amount payable
        on such
        Class of Certificates on such Distribution Date (such excess, a “Class IO
        Distribution Amount”). A Class IO Distribution Amount payable from interest
        collections shall be allocated pro
        rata
        among
        such Certificates based on the excess of, with respect to each such Certificate,
        (i) the amount of interest otherwise payable to the REMIC III Regular Interest
        relating to such Certificate over (ii) the amount of interest payable to
        such
        Certificate at a per annum rate equal to the Net Rate Cap, and a Class IO
        Distribution Amount payable from principal collections shall be allocated
        to the
        most subordinate Class of Certificates with an outstanding principal balance
        to
        the extent of such balance. In addition, pursuant to such notional principal
        contract, the Holder of the Class CE Certificates shall be treated as having
        agreed to pay Basis Risk Shortfall Carry Forward Amounts to the Holders of
        the
        Certificates (other than the Class CE, Class P and Class R Certificates)
        in
        accordance with the terms of this Agreement. Any payments to the Certificates
        from amounts deemed received in respect of this notional principal contract
        shall not be payments with respect to a Regular Interest in a REMIC within
        the
        meaning of Code Section 860G(a)(1). However, any payment from the Certificates
        (other than the Class CE, Class P and Class R Certificates) of a Class IO
        Distribution Amount shall be treated for tax purposes as having been received
        by
        the Holders of such Certificates in respect of their interests in REMIC III
        and
        as having been paid by such Holders to the Swap Administrator pursuant to
        the
        notional principal contract. Thus, each Certificate (other than the Class
        P and
        Class R Certificates) shall be treated as representing not only ownership
        of
        Regular Interests in REMIC III, but also ownership of an interest in, and
        obligations with respect to, a notional principal contract.

       

      Section
        3.22 Tax
        Treatment of Class IO Distribution Amounts in the Event of Resecuritization
        of
        Class A Certificates or Class M Certificates. 

       

      In
        the
        event that any Class A Certificate or Class M Certificate is resecuritized
        in a
        REMIC (the “Resecuritization REMIC”), for federal income tax purposes, (i)
        payments on the REMIC III Regular Interest corresponding to such Class A
        Certificate or Class M Certificate shall, for the avoidance of doubt, be
        deemed
        to include the related Class IO Distribution Amount, and (ii) to the extent
        provided in the operative documents for the Resecuritization REMIC, (a) payments
        on the “regular interests” issued by the Resecuritization REMIC shall be deemed
        to include in the aggregate such Class IO Distribution Amount, and (b) such
        Class IO Distribution Amount shall be deemed paid to the holder of the Class
        CE
        Certificates pursuant to a notional principal contract entered into by the
        holders of one or more “regular interests” issued by the Resecuritization REMIC
        (“Resecuritization Holders”) and the Holder of the Class CE Certificates. In
        such event, Class IO Distribution Amounts deemed paid by Resecuritization
        Holders under clause (b) of the immediately preceding sentence shall be paid
        on
        behalf of such Holders pursuant to Section 3.21(c) hereof.

       

      Section
        3.23 Advancing
        Facility. 

       

      (a) The
        Master Servicer and/or the Trustee on behalf of the Trust Fund, in either
        case,
        with the consent of the Master Servicer in the case of the Trustee and, in
        each
        case, with notice to the Rating Agencies, is hereby authorized to enter into
        a
        facility (the “Advancing Facility”) with any Person which provides that such
        Person (an “Advancing Person”) may fund Advances and/or Servicing Advances to
        the Trust Fund under this Agreement, although no such facility shall reduce
        or
        otherwise affect the Master Servicer’s obligation to fund such Advances and/or
        Servicing Advances. If the Master Servicer enters into such an Advancing
        Facility pursuant to this Section 3.23, upon reasonable request of the Advancing
        Person, the Trustee shall execute a letter of acknowledgment, confirming
        its
        receipt of notice of the existence of such Advancing Facility. To the extent
        that an Advancing Person funds any Advance or any Servicing Advance and provides
        the Trustee with notice acknowledged by the Servicer that such Advancing
        Person
        is entitled to reimbursement, such Advancing Person shall be entitled to
        receive
        reimbursement pursuant to this Agreement for such amount to the extent provided
        in Section 3.23(b). Such notice from the Advancing Person must specify the
        amount of the reimbursement, the Section of this Agreement that permits the
        applicable Advance or Servicing Advance to be reimbursed and the section(s)
        of
        the Advancing Facility that entitle the Advancing Person to request
        reimbursement from the Trustee, rather than the Master Servicer, and include
        the
        Master Servicer’s acknowledgment thereto or proof of an Event of Default under
        the Advancing Facility. The Trustee shall have no duty or liability with
        respect
        to any calculation of any reimbursement to be paid to an Advancing Person
        and
        shall be entitled to rely without independent investigation on the Advancing
        Person’s notice provided pursuant to this Section 3.23. An Advancing Person
        whose obligations hereunder are limited to the funding of Advances and/or
        Servicing Advances shall not be required to meet the qualifications of a
        Master
        Servicer or a subservicer pursuant to Section 8.02 hereof and will not be
        deemed
        to be a subservicer under this Agreement.

       

      (b) If
        an
        Advancing Facility is entered into, then the Master Servicer shall not be
        permitted to reimburse itself therefor under Section 4.02(a)(ii), Section
        4.02(a)(iii) and Section 4.02(a)(v) prior to the remittance to the Trust
        Fund,
        but instead the Master Servicer shall include such amounts in the applicable
        remittance to the Trustee made pursuant to Section 4.02. The Trustee is hereby
        authorized to pay to the Advancing Person, reimbursements for Advances and
        Servicing Advances from the Distribution Account to the same extent the Master
        Servicer would have been permitted to reimburse itself for such Advances
        and/or
        Servicing Advances in accordance with Section 4.02(a)(ii), Section 4.02(a)(iii)
        or Section 4.02(a)(v), as the case may be, had the Master Servicer itself
        funded
        such Advance or Servicing Advance. The Trustee is hereby authorized to pay
        directly to the Advancing Person such portion of the Servicing Fee as the
        parties to any advancing facility agree.

       

      (c) All
        Advances and Servicing Advances made pursuant to the terms of this Agreement
        shall be deemed made and shall be reimbursed on a “first in-first out” (FIFO)
        basis.

       

      (d) Any
        amendment to this Section 3.23 or to any other provision of this Agreement
        that
        may be necessary or appropriate to effect the terms of an Advancing Facility
        as
        described generally in this Section 3.23, including amendments to add provisions
        relating to a successor master servicer, may be entered into by the Trustee
        and
        the Master Servicer without the consent of any Certificateholder,
        notwithstanding anything to the contrary in this Agreement.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        IV

       

      ACCOUNTS

       

      Section
        4.01 Collection
        of Mortgage Loan Payments; Protected Account. 

       

      (a) The
        Master Servicer shall make reasonable efforts in accordance with customary
        and
        usual standards of practice of prudent mortgage lenders in the respective
        states
        in which the Mortgaged Properties are located to collect all payments called
        for
        under the terms and provisions of the Mortgage Loans to the extent such
        procedures shall be consistent with this Agreement and the terms and provisions
        of any related Required Insurance Policy. Consistent with the foregoing,
        the
        Master Servicer may in its discretion (i) waive any late payment charge and
        (ii)
        extend the due dates for payments due on a Mortgage Note for a period not
        greater than 125 days. In the event of any such arrangement, the Master Servicer
        shall make Advances on the related Mortgage Loan during the scheduled period
        in
        accordance with the amortization schedule of such Mortgage Loan without
        modification thereof by reason of such arrangements, and shall be entitled
        to
        reimbursement therefor in accordance with Section 5.01. The Master Servicer
        shall not be required to institute or join in litigation with respect to
        collection of any payment (whether under a Mortgage, Mortgage Note or otherwise
        or against any public or governmental authority with respect to a taking
        or
        condemnation) if it reasonably believes that enforcing the provision of the
        Mortgage or other instrument pursuant to which such payment is required is
        prohibited by applicable law. In addition, if (x) a Mortgage Loan is in default
        or default is reasonably foreseeable or (y) the Master Servicer delivers
        to the
        Trustee a certification addressed to the Trustee, based on the advice of
        counsel
        or certified public accountants, in either case, that have a national reputation
        with respect to taxation of REMICs, that a modification of such Mortgage
        Loan
        will not result in the imposition of taxes on or disqualify from REMIC status
        any of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI, the Master
        Servicer may, (A) amend the related Mortgage Note to reduce the Mortgage
        Rate
        applicable thereto, provided that such reduced Mortgage Rate shall in no
        event
        be lower than 5.00% with respect to any Mortgage Loan and (B) amend any Mortgage
        Note to extend the maturity thereof.

       

      With
        respect to Mortgage Loans affected by Hurricane Katrina, if the Mortgaged
        Property is located in public and individual assistance counties as designated
        by FEMA (as set forth on its website www.fema.gov), the Master Servicer may
        cease charging of late fees and credit reporting activity for Mortgagors
        in such
        counties until May 1, 2006 and if reasonably prudent, may extend such period
        as
        long as necessary. In addition, the Master Servicer may suspend foreclosure
        and
        bankruptcy activity relating to certain Mortgage Loans and if reasonably
        prudent, may extend such period as long as necessary.

      

      The
        Master Servicer shall not waive (or permit a sub-servicer to waive) any
        Prepayment Charge unless: (i) the enforceability thereof shall have been
        limited
        by bankruptcy, insolvency, moratorium, receivership and other similar laws
        relating to creditors’ rights generally, (ii) the enforcement thereof is
        illegal, or any local, state or federal agency has threatened legal action
        if
        the prepayment penalty is enforced, (iii) the mortgage debt has been accelerated
        in connection with a foreclosure or other involuntary payment or (iv) such
        waiver is standard and customary in servicing similar Mortgage Loans and
        relates
        to a default or a reasonably foreseeable default and would, in the reasonable
        judgment of the Master Servicer, maximize recovery of total proceeds taking
        into
        account the value of such Prepayment Charge and the related Mortgage Loan.
        If
        a
        Prepayment Charge is waived, but does not meet the standards described above,
        then the Master Servicer is required to pay the amount of such waived Prepayment
        Charge, for the benefit of the Class P Certificates, by remitting such amount
        to
        the Trustee by the Distribution Account Deposit Date.

       

      (b) The
        Master Servicer shall establish and maintain a Protected Account (which shall
        at
        all times be an Eligible Account) with a depository institution in the name
        of
        the Master Servicer for the benefit of the Trustee on behalf of the
        Certificateholders and designated “EMC Mortgage Corporation, as Master Servicer,
        for the benefit of LaSalle Bank National Association, in trust for registered
        Holders of Bear Stearns Asset Backed Securities I LLC, Asset-Backed
        Certificates, Series 2006-HE5”. The Master Servicer shall deposit or cause to be
        deposited into the Protected Account on a daily basis within two Business
        Days
        of receipt and identification, except as otherwise specifically provided
        herein,
        the following payments and collections remitted by subservicers or received
        by
        it in respect of the Mortgage Loans subsequent to the Cut-off Date (other
        than
        in respect of principal and interest due on the Mortgage Loans on or before
        the
        Cut-off Date) and the following amounts required to be deposited
        hereunder:

       

      (i) all
        payments on account of principal, including Principal Prepayments, on the
        Mortgage Loans;

       

      (ii) all
        payments on account of interest on the Mortgage Loans net of the Servicing
        Fee
        permitted under Section 3.10 and LPMI Fees, if any;

       

      (iii) all
        Liquidation Proceeds, Subsequent Recoveries and Insurance Proceeds, other
        than
        proceeds to be applied to the restoration or repair of the Mortgaged Property
        or
        released to the Mortgagor in accordance with the Master Servicer’s normal
        servicing procedures;

       

      (iv) any
        amount required to be deposited by the Master Servicer pursuant to Section
        4.01(c) in connection with any losses on Permitted Investments;

       

      (v) any
        amounts required to be deposited by the Master Servicer pursuant to Section
        3.05;

       

      (vi) any
        Prepayment Charges collected on the Mortgage Loans; and

       

      (vii) any
        other
        amounts required to be deposited hereunder.

       

      The
        foregoing requirements for remittance by the Master Servicer into the Protected
        Account shall be exclusive, it being understood and agreed that, without
        limiting the generality of the foregoing, payments in the nature of late
        payment
        charges or assumption fees, if collected, need not be remitted by the Master
        Servicer. In the event that the Master Servicer shall remit any amount not
        required to be remitted and not otherwise subject to withdrawal pursuant
        to
        Section 4.02, it may at any time withdraw or direct the institution maintaining
        the Protected Account, to withdraw such amount from the Protected Account,
        any
        provision herein to the contrary notwithstanding. Such withdrawal or direction
        may be accomplished by delivering written notice thereof to the institution
        maintaining the Protected Account, that describes the amounts deposited in
        error
        in the Protected Account. The Master Servicer shall maintain adequate records
        with respect to all withdrawals made pursuant to this Section. Reconciliations
        will be prepared for the Protected Account within 45 calendar days after
        the
        bank statement cut-off date. All items requiring reconciliation will be resolved
        within 90 calendar days of their original identification. All funds deposited
        in
        the Protected Account shall be held in trust for the Certificateholders until
        withdrawn in accordance with Section 4.02.

       

      (c) The
        institution that maintains the Protected Account shall invest the funds in
        the
        Protected Account, in the manner directed by the Master Servicer, in Permitted
        Investments which shall mature not later than the Remittance Date and shall
        not
        be sold or disposed of prior to its maturity. All such Permitted Investments
        shall be made in the name of the Trustee, for the benefit of the
        Certificateholders. All income and gain net of any losses realized from any
        such
        investment shall be for the benefit of the Master Servicer as servicing
        compensation and shall be remitted to it monthly as provided herein. The
        amount
        of any losses incurred in the Protected Account in respect of any such
        investments shall be deposited by the Master Servicer into the Protected
        Account, out of the Master Servicer’s own funds.

       

      (d) The
        Master Servicer shall give at least 30 days advance notice to the Trustee,
        the
        Sellers, each Rating Agency and the Depositor of any proposed change of location
        of the Protected Account prior to any change thereof.

       

      Section
        4.02 Permitted
        Withdrawals From the Protected Account. 

       

      (a) The
        Master Servicer may from time to time make withdrawals from the Protected
        Account for the following purposes:

       

      (i) to
        pay
        itself (to the extent not previously paid to or withheld by the Master
        Servicer), as servicing compensation in accordance with Section 3.10, that
        portion of any payment of interest that equals the Servicing Fee for the
        period
        with respect to which such interest payment was made, and, as additional
        servicing compensation, those other amounts set forth in Section
        3.10;

       

      (ii) to
        reimburse the Master Servicer for Advances made by it with respect to the
        Mortgage Loans, provided, however, that the Master Servicer’s right of
        reimbursement pursuant to this subclause (ii) shall be limited to amounts
        received on particular Mortgage Loan(s) (including, for this purpose,
        Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that
        represent late recoveries of payments of principal and/or interest on such
        particular Mortgage Loan(s) in respect of which any such Advance was
        made;

       

      (iii) to
        reimburse the Master Servicer for any previously made portion of a Servicing
        Advance or an Advance made by the Master Servicer that, in the good faith
        judgment of the Master Servicer, will not be ultimately recoverable by it
        from
        the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds
        or
        otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to
        clause (ii) or clause (v);

       

      (iv) to
        reimburse the Master Servicer from Insurance Proceeds for Insured Expenses
        covered by the related Insurance Policy;

       

      (v) to
        pay
        the Master Servicer any unpaid Servicing Fees and to reimburse it for any
        unreimbursed Servicing Advances, provided, however, that the Master Servicer’s
        right to reimbursement for Servicing Advances pursuant to this subclause
        (v)
        with respect to any Mortgage Loan shall be limited to amounts received on
        particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds,
        Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds)
        that represent late recoveries of the payments for which such Servicing Advances
        were made;

       

      (vi) to
        pay to
        the Seller, with respect to each Mortgage Loan or property acquired in respect
        thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.19 of
        this
        Agreement, all amounts received thereon and not taken into account in
        determining the related Stated Principal Balance of such repurchased Mortgage
        Loan;

       

      (vii) to
        pay
        any expenses recoverable by the Master Servicer pursuant to Section 7.04
        of this
        Agreement;

       

      (viii) to
        withdraw pursuant to Section 4.01 any amount deposited in the Protected Account
        and not required to be deposited therein; and

       

      (ix) to
        clear
        and terminate the Protected Account upon termination of this Agreement pursuant
        to Section 10.01 hereof.

       

      In
        addition, no later than 10:00 a.m. Eastern time on the Distribution Account
        Deposit Date, the Master Servicer shall withdraw from the Protected Account
        and
        remit to the Trustee the amount of Interest Funds (without taking into account
        any reduction in the amount of Interest Funds attributable to the application
        of
        clause (c) of the definition thereof contained in Article I of this Agreement)
        and Principal Funds collected, to the extent on deposit, and the Trustee
        shall
        deposit such amount in the Distribution Account. In addition, on or before
        the
        Distribution Account Deposit Date, the Master Servicer shall remit to the
        Trustee for deposit in the Distribution Account any Advances or any payments
        of
        Compensating Interest required to be made by the Master Servicer with respect
        to
        the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date,
        the
        Master Servicer shall remit to the Trustee all Prepayment Charges collected
        by
        the Master Servicer with respect to the Mortgage Loans during the related
        Prepayment Period.

       

      The
        Master Servicer shall keep and maintain separate accounting, on a Mortgage
        Loan
        by Mortgage Loan basis, for the purpose of justifying any withdrawal from
        the
        Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii)
        above. Prior to making any withdrawal from the Protected Account pursuant
        to
        subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s
        Certificate of a Servicing Officer indicating the amount of any previous
        Advance
        or Servicing Advance determined by the Master Servicer to be a Nonrecoverable
        Advance and identifying the related Mortgage Loan(s), and their respective
        portions of such Nonrecoverable Advance.

       

      Section
        4.03 Collection
        of Taxes; Assessments and Similar Items; Escrow Accounts. 

       

      With
        respect to each Mortgage Loan, to the extent required by the related Mortgage
        Note, the Master Servicer shall establish and maintain one or more accounts
        (each, an “Escrow Account”) and deposit and retain therein all collections from
        the Mortgagors (or advances by the Master Servicer) for the payment of taxes,
        assessments, hazard insurance premiums or comparable items for the account
        of
        the Mortgagors. Nothing herein shall require the Master Servicer to compel
        a
        Mortgagor to establish an Escrow Account in violation of applicable
        law.

       

      Withdrawals
        of amounts so collected from the Escrow Accounts may be made only to effect
        timely payment of taxes, assessments, hazard insurance premiums, condominium
        or
        PUD association dues, or comparable items, to reimburse the Master Servicer
        out
        of related collections for any payments made with respect to each Mortgage
        Loan
        pursuant to Section 3.01 (with respect to taxes and assessments and insurance
        premiums) and Section 3.05 (with respect to hazard insurance), to refund
        to any
        Mortgagors for any Mortgage Loans any sums as may be determined to be overages,
        to pay interest, if required by law or the terms of the related Mortgage
        or
        Mortgage Note, to such Mortgagors on balances in the Escrow Account or to
        clear
        and terminate the Escrow Account at the termination of this Agreement in
        accordance with Section 10.01 thereof. The Escrow Account shall not be a
        part of
        the Trust Fund.

       

      Section
        4.04 Distribution
        Account.

       

      (a) The
        Trustee shall establish and maintain in the name of the Trustee, for the
        benefit
        of the Certificateholders, the Distribution Account as a segregated trust
        account or accounts.

       

      (b) All
        amounts deposited to the Distribution Account shall be held by the Trustee
        in
        the name of the Trustee in trust for the benefit of the Certificateholders
        in
        accordance with the terms and provisions of this Agreement.

       

      (c) The
        Distribution Account shall constitute an Eligible Account of the Trust Fund
        segregated on the books of the Trustee and held by the Trustee 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). The amount at any time
        credited to the Distribution Account may be invested in the name of the Trustee,
        in such Permitted Investments, or deposited in demand deposits with such
        depository institutions, as determined by the Trustee. All Permitted Investments
        shall mature or be subject to redemption or withdrawal on or before, and
        shall
        be held until, the next succeeding Distribution Date if the obligor for such
        Permitted Investment is the Trustee or, if such obligor is any other Person,
        the
        Business Day preceding such Distribution Date. All investment earnings on
        amounts on deposit in the Distribution Account or benefit from funds uninvested
        therein from time to time shall be for the account of the Trustee. The Trustee
        shall be permitted to withdraw or receive distribution of any and all investment
        earnings from the Distribution Account on each Distribution Date. If there
        is
        any loss on a Permitted Investment or demand deposit, the Trustee shall deposit
        the amount of the loss from its own funds in the Distribution Account not
        later
        than the applicable Distribution Date on which the moneys so invested are
        required to be distributed to the Certificateholders. With respect to the
        Distribution Account and the funds deposited therein, the Trustee shall take
        such action as may be necessary to ensure that the Certificateholders shall
        be
        entitled to the priorities afforded to such a trust account (in addition
        to a
        claim against the estate of the Trustee) as provided by 12 U.S.C. § 92a(e), and
        applicable regulations pursuant thereto, if applicable, or any applicable
        comparable state statute applicable to state chartered banking
        corporations.

       

      Section
        4.05 Permitted
        Withdrawals and Transfers from the Distribution Account. 

       

      (a) The
        Trustee will make or cause to be made such withdrawals or transfers from
        the
        Distribution Account for the following purposes:

       

      (i) to
        pay to
        itself the Trustee Fee;

       

      (ii) to
        reimburse the Trustee, the Supplemental Interest Trust Trustee or the Swap
        Administrator for expenses, costs and liabilities incurred by or reimbursable
        to
        it pursuant to this Agreement;

       

      (iii) to
        pay
        investment income to the Trustee;

       

      (iv) to
        remove
        amounts deposited in error;

       

      (v) to
        make
        distributions to the Swap Administrator for payment to the Swap Provider
        as
        provided in this Agreement; and

       

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

       

      (b) On
        each
        Distribution Date, the Trustee shall distribute Interest Funds and Principal
        Funds in the Distribution Account to the Holders of the Certificates in
        accordance with Section 5.04.

       

      Section
        4.06 Class
        P Certificate Account. 

       

      (a) The
        Trustee shall establish and maintain in the name of the Trustee, for the
        benefit
        of the Class P Certificateholders, the Class P Certificate Account as a
        segregated trust account or accounts.

       

      (b) On
        the
        Closing Date, the Depositor will deposit, or cause to be deposited in the
        Class
        P Certificate Account, an amount equal to $100. All amounts deposited to
        the
        Class P Certificate Account shall be held by the Trustee in the name of the
        Trustee in trust for the benefit of the Class P Certificateholders in accordance
        with the terms and provisions of this Agreement. The amount on deposit in
        the
        Class P Certificate Account shall be held uninvested.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        V

       

      DISTRIBUTIONS
        AND ADVANCES

       

      Section
        5.01 Advances. 

       

      The
        Master Servicer shall, or shall cause the related subservicer pursuant to
        the
        Subservicing Agreement to, make an Advance (other than any balloon payments)
        and
        deposit such Advance in the Protected Account. Each such Advance shall be
        remitted to the Distribution Account no later than 10:00 a.m. Eastern time
        on
        the Distribution Account Deposit Date in immediately available funds. The
        Master
        Servicer shall be obligated to make any such Advance only to the extent that
        such advance would not be a Nonrecoverable Advance. If the Master Servicer
        shall
        have determined that it has made a Nonrecoverable Advance or that a proposed
        Advance or a lesser portion of such Advance would constitute a Nonrecoverable
        Advance, the Master Servicer shall deliver (i) to the Trustee for the benefit
        of
        the Certificateholders funds constituting the remaining portion of such Advance,
        if applicable, and (ii) to the Depositor, each Rating Agency and the Trustee
        an
        Officer’s Certificate setting forth the basis for such determination. Subject to
        the Master Servicer’s recoverability determination, in the event that a
        subservicer fails to make a required Advance, the Master Servicer shall be
        required to remit the amount of such Advance to the Distribution
        Account.

       

      In
        lieu
        of making all or a portion of such Advance from its own funds, the Master
        Servicer may (i) cause to be made an appropriate entry in its records relating
        to the Protected Account that any Amount Held for Future Distributions has
        been
        used by the Master Servicer in discharge of its obligation to make any such
        Advance and (ii) transfer such funds from the Protected Account to the
        Distribution Account. Any funds so applied and transferred shall be replaced
        by
        the Master Servicer by deposit in the Distribution Account, no later than
        the
        close of business on the Business Day immediately preceding the Distribution
        Date on which such funds are required to be distributed pursuant to this
        Agreement.

       

      The
        Master Servicer shall be entitled to be reimbursed from the Protected Account
        for all Advances of its own funds made pursuant to this Section as provided
        in
        Section 4.02. The obligation to make Advances with respect to any Mortgage
        Loan
        shall continue until such Mortgage Loan is paid in full or the related Mortgaged
        Property or related REO Property has been liquidated or until the purchase
        or
        repurchase thereof (or substitution therefor) from the Trust Fund pursuant
        to
        any applicable provision of this Agreement, except as otherwise provided
        in this
        Section 5.01.

       

      Subject
        to and in accordance with the provisions of Article VIII hereof, in the event
        the Master Servicer fails to make such Advance, then the Trustee, as Successor
        Master Servicer, shall be obligated to make such Advance, subject to the
        provisions of this Section 5.01.

       

      Section
        5.02 Compensating
        Interest Payments. 

       

      In
        the
        event that there is a Prepayment Interest Shortfall arising from a voluntary
        Principal Prepayment in part or in full by the Mortgagor with respect to
        any
        Mortgage Loan, the Master Servicer shall, to the extent of the Servicing
        Fee for
        such Distribution Date, deposit into the Distribution Account, as a reduction
        of
        the Servicing Fee for such Distribution Date, no later than the close of
        business on the Business Day immediately preceding such Distribution Date,
        an
        amount equal to the Prepayment Interest Shortfall; and in case of such deposit,
        the Master Servicer shall not be entitled to any recovery or reimbursement
        from
        the Depositor, the Trustee, the Seller, the Trust Fund or the
        Certificateholders.

       

      Section
        5.03 REMIC
        Distributions. 

       

      On
        each
        Distribution Date the Trustee shall be deemed to have allocated distributions
        to
        the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest,
        Class P Interest and Class IO Interest in accordance with Section 5.07
        hereof.

       

      Section
        5.04 Distributions. 

       

      (a) Subject
        to Section 3.21(c), on each Distribution Date, an amount equal to the Interest
        Funds and Principal Funds for each Loan Group for such Distribution Date
        shall
        be withdrawn by the Trustee from the Distribution Account and distributed
        in the
        following order of priority:

       

      (1) Interest
        Funds shall be distributed in the following manner and order of
        priority:

       

      (A) From
        Interest Funds in respect of:

       

      
        	 	
                (i)

              	
                Loan
                  Group I, to the Class I-A-1, Class I-A-2 and Class I-A-3 Certificates,
                  the
                  Current Interest and any Interest Carry Forward Amount for each
                  such
                  Class, on a pro
                  rata
                  basis, based on the entitlement of each such Class;
                  and

              

      

       

      
        	 	
                (ii)

              	
                Loan
                  Group II, to the Class II-A Certificates, the Current Interest
                  and any
                  Interest Carry Forward Amount for such Class;

              

      

       

      (B) From
        remaining Interest Funds in respect of the non-related Loan Group, to the
        non-related Class I-A Certificates and Class II-A Certificates, the remaining
        Current Interest, if any, and the remaining Interest Carry Forward Amount,
        if
        any, for such Classes, pro
        rata
        based on
        the entitlement of each such Class; 

       

      (C) From
        remaining Interest Funds in respect of both Loan Groups, sequentially to
        the
        Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7,
        Class M-8, Class M-9, Class M-10 and Class M-11 Certificates, in that order,
        the
        Current Interest for such Class.

       

      Any
        Excess Spread to the extent necessary to meet a level of overcollateralization
        equal to the Overcollateralization Target Amount shall be the Extra Principal
        Distribution Amount and will be included as part of the Principal Distribution
        Amount. Any Remaining Excess Spread together with any Overcollateralization
        Release Amount shall be applied as Excess Cashflow and distributed pursuant
        to
        clauses (4)(A) through (H) below.

       

      On
        any
        Distribution Date, any Relief Act Interest Shortfalls and any Prepayment
        Interest Shortfalls to the extent not covered by Compensating Interest will
        be
        allocated as set forth in the definition of “Current Interest”
herein.

       

      (2) On
        each
        Distribution Date, the Principal Distribution Amount shall be distributed
        in the
        following manner and order of priority:

       

      (A) For
        each
        Distribution Date (i) prior to the Stepdown Date or (ii) on which a Trigger
        Event is in effect:

       

      
        	 	
                (i)

              	
                To
                  the Class A Certificates, the Principal Distribution Amount for
                  such
                  Distribution Date to be distributed as
                  follows:

              

      

       

      (1) from
        the
        Group I Principal Distribution Amount for such Distribution Date, sequentially,
        to the Class I-A-1, Class I-A-2 and Class I-A-3 Certificates, in that order,
        in
        each case until the Certificate Principal Balance thereof is reduced to zero;
        and

       

      (2) from
        the
        Group II Principal Distribution Amount for such Distribution Date, to the
        Class
        II-A Certificates, until the Certificate Principal Balance thereof is reduced
        to
        zero; 

       

      
        	 	
                (ii)

              	
                To
                  the Class M-1 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to
                  zero;

              

      

       

      
        	 	
                (iii)

              	
                To
                  the Class M-2 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to
                  zero;

              

      

       

      
        	 	
                (iv)

              	
                To
                  the Class M-3 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to
                  zero;

              

      

       

      
        	 	
                (v)

              	
                To
                  the Class M-4 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to
                  zero;

              

      

       

      
        	 	
                (vi)

              	
                To
                  the Class M-5 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to
                  zero;

              

      

       

      
        	 	
                (vii)

              	
                To
                  the Class M-6 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (viii)

              	
                To
                  the Class M-7 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (ix)

              	
                To
                  the Class M-8 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to
                  zero;

              

      

       

      
        	 	
                (x)

              	
                To
                  the Class M-9 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (xi)

              	
                To
                  the Class M-10 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to zero;
                  and

              

      

       

      
        	 	
                (xii)

              	
                To
                  the Class M-11 Certificates, from any remaining Principal Funds
                  in respect
                  of both Loan Groups for such Distribution Date, until the Certificate
                  Principal Balance thereof is reduced to
                  zero.

              

      

       

      (B) For
        each
        Distribution Date on or after the Stepdown Date, so long as a Trigger Event
        is
        not in effect:

       

      
        	 	
                (i)

              	
                To
                  the Class A Certificates, the Principal Distribution Amount for
                  such
                  Distribution Date to be distributed as
                  follows:

              

      

       

      (1) from
        the
        Group I Principal Distribution Amount for such Distribution Date, sequentially,
        to the Class I-A-1, Class I-A-2 and Class I-A-3 Certificates, in that order,
        the
        Class I-A Principal Distribution Amount for such Distribution Date, in each
        case
        until the Certificate Principal Balance thereof is reduced to zero;
        and

       

      (2) from
        the
        Group II Principal Distribution Amount for such Distribution Date, to the
        Class
        II-A Certificates, the Class II-A Principal Distribution Amount for such
        Distribution Date, until the Certificate Principal Balances thereof are reduced
        to zero; 

       

      
        	 	
                (ii)

              	
                To
                  the Class M-1 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-1 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (iii)

              	
                To
                  the Class M-2 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-2 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (iv)

              	
                To
                  the Class M-3 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-3 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (v)

              	
                To
                  the Class M-4 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-4 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (vi)

              	
                To
                  the Class M-5 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-5 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (vii)

              	
                To
                  the Class M-6 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-6 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (viii)

              	
                To
                  the Class M-7 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-7 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (ix)

              	
                To
                  the Class M-8 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-8 rincipal Distribution Amount, until the Certificate Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (x)

              	
                To
                  the Class M-9 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-9 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;

              

      

       

      
        	 	
                (xi)

              	
                To
                  the Class M-10 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-10 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero;
                  and

              

      

       

      
        	 	
                (xii)

              	
                To
                  the Class M-11 Certificates, from any remaining Principal Distribution
                  Amount in respect of both Loan Groups for such Distribution Date,
                  the
                  Class M-11 Principal Distribution Amount, until the Certificate
                  Principal
                  Balance thereof is reduced to zero.

              

      

       

      (3) Notwithstanding
        the provisions of clauses (2)(A) and (B) above, if on any Distribution Date
        the
        Class A Certificates related to a Loan Group are no longer outstanding, the
        pro
        rata
        portion
        of the Principal Distribution Amount or the applicable Class A Principal
        Distribution Amount, as applicable, otherwise allocable to such Class A
        Certificates will be allocated to the remaining group of Class A Certificates
        pro
        rata
        in the
        same manner and order of priority described above; and

       

      (4) Any
        Excess Cashflow shall be distributed in the following manner and order of
        priority:

       

      (A) from
        any
        remaining Excess Cashflow, to the Class A Certificates, (a) first, any remaining
        Interest Carry Forward Amount for such Classes, pro
        rata,
        in
        accordance with the Interest Carry Forward Amount due with respect to each
        such
        Class,
        to the
        extent not fully paid pursuant to clause (1) (A) above
        and
        Section 3.21(d) and (b) second, any Unpaid Realized Loss Amount for such
        Classes
        for such Distribution Date, pro
        rata,
        in
        accordance with the Applied Realized Loss Amount allocated to each such
        Class;

       

      (B) from
        any
        remaining Excess Cashflow, sequentially, to the Class M-1, Class M-2, Class
        M-3,
        Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10
        and
        Class M-11 Certificates, in that order, an amount equal to the Interest Carry
        Forward Amount for each such Class for such Distribution Date to the extent
        not
        fully paid pursuant to Section 3.21(d);

       

      (C) from
        any
        remaining Excess Cashflow otherwise distributable to the Class CE Interest
        and
        the Class CE Certificates, to the Reserve Fund, (i) first, to pay to the
        Classes
        of Class I-A Certificates and Class II-A Certificates, any Basis Risk Shortfall
        Carry Forward Amount for such Classes for such Distribution Date, on a
pro
        rata
        basis,
        based on the amount of the Basis Risk Shortfall Carry Forward Amount for
        each
        such Class and to the extent not paid pursuant to Section 3.21(d) and to
        the
        extent such amount exceeds the amounts then on deposit in the Reserve Fund,
        and
        (ii) second, to maintain a balance in the Reserve Fund equal to the Reserve
        Fund
        Deposit;

       

      (D) from
        any
        remaining Excess Cashflow otherwise distributable to the Class CE Interest
        and
        the Class CE Certificates, to the Reserve Fund, (i) first, to pay to the
        Class
        M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class
        M-8, Class M-9, Class M-10 and Class M-11 Certificates, sequentially in that
        order, any Basis Risk Shortfall Carry Forward Amount for each such Class
        for
        such Distribution Date, if any, in each case to the extent not paid pursuant
        to
        Section 3.21(d) and to the extent such amount exceeds the amounts then on
        deposit in the Reserve Fund, and (ii) second, to maintain a balance in the
        Reserve Fund equal to the Reserve Fund Deposit;

       

      (E) from
        any
        remaining Excess Cashflow, to the Class A Certificates, on a pro
        rata
        basis,
        based on the entitlement of each such Class, and then sequentially to the
        Class
        M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class
        M-8, Class M-9, Class M-10 and Class M-11 Certificates, in that order, the
        amount of Relief Act Shortfalls and any Prepayment Interest Shortfalls allocated
        to such Classes of Certificates, to the extent not previously
        reimbursed;

       

      (F) from
        any
        remaining Excess Cashflow, to the Swap Administrator for payment to the Swap
        Provider, any Swap Termination Payments due to a Swap Provider Trigger Event
        owed by the Trust Fund (to the extent not paid by the Swap Administrator
        from
        any upfront payment received pursuant to any replacement interest rate swap
        agreement that may be entered into by the Supplemental Interest Trust
        Trustee);

       

      (G) from
        any
        remaining Excess Cashflow, to the Class CE Interest and Class CE Certificates,
        an amount equal to the Class CE Distribution Amount reduced by amounts
        distributed in clauses (C) and (D) above; and

       

      (H) from
        any
        remaining Excess Cashflow, to each of the Class R-1, Class R-2, Class R-3
        and
        Class RX Certificates, based on the related REMIC in which such amounts
        remain.

       

      On
        each
        Distribution Date, all amounts in respect of Prepayment Charges shall be
        distributed to the Holders of the Class P Interest and the Class P Certificates,
        provided that such distributions shall not be in reduction of the principal
        balance thereof. On the Distribution Date immediately following the expiration
        of the latest Prepayment Charge term as identified on the Mortgage Loan
        Schedule, any amount on deposit in the Class P Certificate Account will be
        distributed to the Holders of the Class P Interest and the Class P Certificates
        in reduction of the Certificate Principal Balance thereof.

       

      In
        addition, notwithstanding the foregoing, on any Distribution Date after the
        Distribution Date on which the Certificate Principal Balance of a Class of
        Class
        A Certificates or Class M Certificates has been reduced to zero, that Class
        of
        Certificates will be retired and will no longer be entitled to distributions,
        including distributions in respect of Prepayment Interest Shortfalls or Basis
        Risk Shortfall Carry Forward Amounts.

       

      In
        addition, notwithstanding the foregoing clause (a)(2), to the extent a Class
        IO
        Distribution Amount is payable from principal collections, Principal
        Distribution Amounts will be deemed paid to the most subordinate Class of
        Regular Certificates, until the Certificate Principal Balance thereof has
        been
        reduced to zero, and such amount will be paid pursuant to Section
        3.21(f).

       

      (b) In
        addition to the foregoing distributions, with respect to any Subsequent
        Recoveries, the Master Servicer shall deposit such funds into the Protected
        Account pursuant to Section 4.01(b)(iii). If, after taking into account such
        Subsequent Recoveries, the amount of a Realized Loss is reduced, the amount
        of
        such Subsequent Recoveries will be applied to increase the Certificate Principal
        Balance of the Class of Certificates with the highest payment priority to
        which
        Realized Losses have been allocated, but not by more than the amount of Realized
        Losses previously allocated to that Class of Certificates pursuant to Section
        5.05; provided, however, to the extent that no reductions to a Certificate
        Principal Balance of any Class of Certificates currently exists as the result
        of
        a prior allocation of a Realized Loss, such Subsequent Recoveries will be
        applied as Excess Spread. The amount of any remaining Subsequent Recoveries
        will
        be applied to increase the Certificate Principal Balance of the Class of
        Certificates with the next highest payment priority, up to the amount of
        such
        Realized Losses previously allocated to that Class of Certificates pursuant
        to
        Section 5.05, and so on. Holders of such Certificates will not be entitled
        to
        any payment in respect of Current Interest on the amount of such increases
        for
        any Interest Accrual Period preceding the Distribution Date on which such
        increase occurs. Any such increases shall be applied to the Certificate
        Principal Balance of each Certificate of such Class in accordance with its
        respective Percentage Interest.

       

      (c) Subject
        to Section 10.02 hereof respecting the final distribution, on each Distribution
        Date the Trustee shall make distributions to each Certificateholder of record
        on
        the preceding Record Date either by wire transfer in immediately available
        funds
        to the account of such Holder at a bank or other entity having appropriate
        facilities therefor, if such Holder has so notified the Trustee at least
        5
        Business Days prior to the related Record Date, or, if not, by check mailed
        by
        first class mail to such Certificateholder at the address of such Holder
        appearing in the Certificate Register. Notwithstanding the foregoing, but
        subject to Section 10.02 hereof respecting the final distribution, distributions
        with respect to Certificates registered in the name of a Depository shall
        be
        made to such Depository in immediately available funds.

       

      (d) On
        or
        before 5:00 p.m. Eastern time on the fifth Business Day immediately preceding
        each Distribution Date, the Master Servicer shall deliver a report to the
        Trustee in electronic form (or by such other means as the Master Servicer
        and
        the Trustee may agree from time to time) containing such data and information,
        as agreed to by the Master Servicer and the Trustee such as to permit the
        Trustee to prepare the Monthly Statement to Certificateholders and to make
        the
        required distributions for the related Distribution Date.

       

      Section
        5.05 Allocation
        of Realized Losses. 

       

      (a) All
        Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Interest
        pursuant to Section 5.05(c) on the Mortgage Loans shall be allocated by the
        Trustee on each Distribution Date as follows: first, to Excess Spread as
        part of
        the payment in respect of the Extra Principal Distribution Amount for such
        Distribution Date; second, to the Class CE Interest and Class CE Certificates,
        until the Certificate Principal Balance or Uncertificated Principal Balance
        thereof, as applicable, has been reduced to zero; third, to the Class M-11
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero; fourth, to the Class M-10 Certificates, until the Certificate Principal
        Balance thereof has been reduced to zero; fifth, to the Class M-9 Certificates,
        until the Certificate Principal Balance thereof has been reduced to zero;
        sixth,
        to the Class M-8 Certificates, until the Certificate Principal Balance thereof
        has been reduced to zero; seventh, to the Class M-7 Certificates, until the
        Certificate Principal Balance thereof has been reduced to zero; eighth, to
        the
        Class M-6 Certificates, until the Certificate Principal Balance thereof has
        been
        reduced to zero; ninth, to the Class M-5 Certificates, until the Certificate
        Principal Balance thereof has been reduced to zero; tenth, to the Class M-4
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero; eleventh, to the Class M-3 Certificates, until the Certificate
        Principal Balance thereof has been reduced to zero; twelfth, to the Class
        M-2
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero; thirteenth, to the Class M-1 Certificates, until the Certificate
        Principal Balance thereof has been reduced to zero; fourteenth, to the related
        Class or Classes of Class A Certificates, on a pro
        rata
        basis,
        until the Certificate Principal Balances thereof have been reduced to zero;
        and
        fifteenth, to the unrelated Class or Classes of Class A Certificates, on
        a
pro
        rata
        basis,
        until the Certificate Principal Balances thereof have been reduced to zero.
        All
        Realized Losses to be allocated to the Certificate Principal Balances of
        all
        Classes on any Distribution Date shall be so allocated after the actual
        distributions to be made on such date as provided above. All references above
        to
        the Certificate Principal Balance of any Class of Certificates shall be to
        the
        Certificate Principal Balance of such Class immediately prior to the relevant
        Distribution Date, before reduction thereof by any Realized Losses, in each
        case
        to be allocated to such Class of Certificates, on such Distribution
        Date.

       

      (b) Any
        allocation of Realized Losses to a Class of Certificates or to the Class
        CE
        Interest on any Distribution Date shall be made by reducing the Certificate
        Principal Balance or Uncertificated Principal Balance thereof by the amount
        so
        allocated; any allocation of Realized Losses to Excess Spread shall be made
        by
        reducing the amount otherwise payable in respect of the Class CE Interest
        and
        the Class CE Certificates pursuant to clause (G) of Section 5.04(a)(4). No
        allocations of any Realized Losses shall be made to the Certificate Principal
        Balance or Uncertificated Principal Balance, as applicable, of the Class
        P
        Interest and the Class P Certificates.

       

      Notwithstanding
        the foregoing, no such allocation of any Realized Loss shall be made on a
        Distribution Date to any Class of Certificates to the extent that such
        allocation would result in the reduction of the aggregate Certificate Principal
        Balance of all the Certificates as of such Distribution Date, (other than
        the
        Class CE Certificates and Class P Certificates) after giving effect to all
        distributions and prior allocations of Realized Losses on the Mortgage Loans
        on
        such date, to an amount less than the aggregate Stated Principal Balance
        of all
        of the Mortgage Loans as of the first day of the month of such Distribution
        Date
        (such limitation, the “Loss Allocation Limitation”). In addition in no event
        will the Certificate Principal Balance of any Certificate be reduced more
        than
        once in respect of any particular amount both (i) allocable to such Certificate
        in respect of Realized Losses and (ii) payable as principal to the Holder
        of
        such Certificate from Remaining Excess Spread.

       

      As
        used
        herein, an allocation of a Realized Loss on a “pro
        rata
        basis”
among two or more specified Classes of Certificates means an allocation on
        a
pro
        rata
        basis,
        among the various Classes so specified, to each such Class of Certificates
        on
        the basis of their then outstanding Certificate Principal Balances prior
        to
        giving effect to distributions to be made on such Distribution Date. All
        Realized Losses and all other losses allocated to a Class of Certificates
        hereunder will be allocated among the Certificates of such Class in proportion
        to the Percentage Interests evidenced thereby.

       

      (c) (i)
        All
        Realized Losses on the Group I Loans shall be allocated on each Distribution
        Date to REMIC I Regular Interest I-1-A through REMIC I Regular Interest I-60-B,
        starting with the lowest numerical denomination until the Uncertificated
        Principal Balance of each such REMIC I Regular Interest has been reduced
        to
        zero, provided that, for REMIC I Group I Regular Interests with the same
        numerical denomination, such Realized Losses shall be allocated pro
        rata
        between
        such REMIC I Regular Interests. All Realized Losses on the Group II Loans
        shall
        be allocated on each Distribution Date to REMIC I Regular Interest II-1-A
        through REMIC I Regular Interest II-60-B, starting with the lowest numerical
        denomination until the Uncertificated Principal Balance of each such REMIC
        I
        Regular Interest has been reduced to zero, provided that, for REMIC I Group
        II
        Regular Interests with the same numerical denomination, such Realized Losses
        shall be allocated pro
        rata
        between
        such REMIC I Regular Interests.

       

      (ii) The
        REMIC
        II Marker Percentage of all Realized Losses on the Mortgage Loans shall be
        allocated by the Trustee on each Distribution Date to the following REMIC
        II
        Regular Interests in the specified percentages, as follows: first, to
        Uncertificated Accrued Interest payable to the REMIC II Regular Interest
        AA and
        REMIC II Regular Interest ZZ up to an aggregate amount equal to the REMIC
        II
        Interest Loss Allocation Amount (without duplication of shortfalls allocated
        pursuant to Section 1.02), 98.00% and 2.00%, respectively; second, to the
        Uncertificated Principal Balances of the REMIC II Regular Interest AA and
        REMIC
        II Regular Interest ZZ up to an aggregate amount equal to the REMIC II Principal
        Loss Allocation Amount, 98.00% and 2.00%, respectively; third, to the
        Uncertificated Principal Balances of REMIC II Regular Interest AA, REMIC
        II
        Regular Interest M-11 and REMIC II Regular Interest ZZ, 98.00%, 1.00% and
        1.00%,
        respectively, until the Uncertificated Principal Balance of REMIC II Regular
        Interest M-11 has been reduced to zero; fourth, to the Uncertificated Principal
        Balances of REMIC II Regular Interest AA, REMIC II Regular Interest M-10
        and
        REMIC II Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until
        the
        Uncertificated Principal Balance of REMIC II Regular Interest M-10 has been
        reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC
        II
        Regular Interest AA, REMIC II Regular Interest M-9 and REMIC II Regular Interest
        ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal
        Balance of REMIC II Regular Interest M-9 has been reduced to zero; sixth,
        to the
        Uncertificated Principal Balances of REMIC II Regular Interest AA, REMIC
        II
        Regular Interest M-8 and REMIC II Regular Interest ZZ, 98.00%, 1.00% and
        1.00%,
        respectively, until the Uncertificated Principal Balance of REMIC II Regular
        Interest M-8 has been reduced to zero; seventh, to the Uncertificated Principal
        Balances of REMIC II Regular Interest AA, REMIC II Regular Interest M-7 and
        REMIC II Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until
        the
        Uncertificated Principal Balance of REMIC II Regular Interest M-7 has been
        reduced to zero; eighth, to the Uncertificated Principal Balances of REMIC
        II
        Regular Interest AA, REMIC II Regular Interest M-6 and REMIC II Regular Interest
        ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal
        Balance of REMIC II Regular Interest M-6 has been reduced to zero; ninth,
        to the
        Uncertificated Principal Balances of REMIC II Regular Interest AA, REMIC
        II
        Regular Interest M-5 and REMIC II Regular Interest ZZ, 98.00%, 1.00% and
        1.00%,
        respectively, until the Uncertificated Principal Balance of REMIC II Regular
        Interest M-5 has been reduced to zero; tenth, to the Uncertificated Principal
        Balances of REMIC II Regular Interest AA, REMIC II Regular Interest M-4 and
        REMIC II Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until
        the
        Uncertificated Principal Balance of REMIC II Regular Interest M-4 has been
        reduced to zero; eleventh, to the Uncertificated Principal Balances of REMIC
        II
        Regular Interest AA, REMIC II Regular Interest M-3 and REMIC II Regular Interest
        ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal
        Balance of REMIC II Regular Interest M-3 has been reduced to zero; twelfth,
        to
        the Uncertificated Principal Balances of REMIC II Regular Interest AA, REMIC
        II
        Regular Interest M-2 and REMIC II Regular Interest ZZ, 98.00%, 1.00% and
        1.00%,
        respectively, until the Uncertificated Principal Balance of REMIC II Regular
        Interest M-2 has been reduced to zero; thirteenth, to the Uncertificated
        Principal Balances of REMIC II Regular Interest AA, REMIC II Regular Interest
        M-1 and REMIC II Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively,
        until the Uncertificated Principal Balance of REMIC II Regular Interest M-1
        has
        been reduced to zero; fourteenth, to the Uncertificated Principal Balance
        of
        REMIC II Regular Interest AA, 98.00%, to the Uncertificated Principal Balances
        of the related REMIC II Regular Interests I-A-1, I-A-2, I-A-3 and II-A, 1.00%
        pro
        rata,
        and to
        the Uncertificated Principal Balance of REMIC II Regular Interest ZZ, 1.00%,
        until the Uncertificated Principal Balances of such REMIC II Regular Interests
        I-A-1, I-A-2, I-A-3 and II-A have been reduced to zero; and fifteenth, to
        the
        Uncertificated Principal Balance of REMIC II Regular Interest AA, 98.00%,
        to the
        Uncertificated Principal Balances of the unrelated REMIC II Regular Interests
        I-A-1, I-A-2, I-A-3 and II-A, 1.00% pro
        rata,
        and to
        the Uncertificated Principal Balance of REMIC II Regular Interest ZZ, 1.00%,
        until the Uncertificated Principal Balances of such REMIC II Regular Interests
        I-A-1, I-A-2, I-A-3 and II-A have been reduced to zero.

       

      (iii) The
        REMIC
        II Sub WAC Allocation Percentage of all Realized Losses shall be applied
        after
        all distributions have been made on each Distribution Date first, so as to
        keep
        the Uncertificated Principal Balance of each REMIC II Regular Interest ending
        with the designation “Grp” equal to 0.01% of the aggregate Stated Principal
        Balance of the Mortgage Loans in the related Loan Group; second, to each
        REMIC
        II Regular Interest ending with the designation “Sub” so that the Uncertificated
        Principal Balance of each such REMIC II Regular Interest is equal to 0.01%
        of
        the excess of (x) the aggregate Stated Principal Balance of the Mortgage
        Loans
        in the related Loan Group over (y) the current aggregate Certificate Principal
        Balance of the Class A Certificates related to such Loan Group (except that
        if
        any such excess is a larger number than in the preceding distribution period,
        the least amount of Realized Losses shall be applied to such REMIC II Regular
        Interests such that the REMIC II Subordinated Balance Ratio is maintained);
        and
        third, any remaining Realized Losses shall be allocated to REMIC II Regular
        Interest XX.

       

      Section
        5.06 Monthly
        Statements to Certificateholders. 

       

      (a) Not
        later
        than each Distribution Date, the Trustee shall prepare and make available
        to
        each Holder of Certificates, the Master Servicer, the Swap Provider and the
        Depositor a statement setting forth for the Certificates:

       

      (i) the
        applicable record dates, accrual periods, determination dates for calculating
        distributions and general distribution dates;

       

      (ii) the
        total
        cash flows received and the general sources thereof;

       

      (iii) the
        amount, if any, of fees or expenses accrued and paid, with an identification
        of
        the payee and the general purpose of such fees including the related amount
        of
        the Servicing Fees paid to or retained by the Master Servicer for the related
        Due Period;

       

      (iv) the
        amount of any Net Swap Payment payable to the Swap Administrator, any Net
        Swap
        Payment payable to the Swap Provider, any Swap Termination Payment payable
        to
        the Swap Administrator and any Swap Termination Payment payable to the Swap
        Provider;

       

      (v) the
        amount of the related distribution to Holders of each Class allocable to
        principal, separately identifying (A) the aggregate amount of any Principal
        Prepayments included therein, (B) the aggregate of all scheduled payments
        of
        principal included therein and (C) the Extra Principal Distribution Amount
        (if
        any);

       

      (vi) the
        amount of such distribution to Holders of each Class of Class A Certificates
        and
        Class M Certificates allocable to interest and the portion thereof, if any,
        provided by the Swap Agreement and the amount of coverage remaining under
        either
        credit enhancement;

       

      (vii) the
        Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward
        Amounts for each Class of Certificates (if any);

       

      (viii) the
        Pass-Through Rate for each Class of Class A Certificates and Class M
        Certificates with respect to the current Accrual Period, and, if applicable,
        whether such Pass-Through Rate was limited by the related Net Rate
        Cap;

       

      (ix) the
        number and the aggregate of the Stated Principal Balance of (A) all of the
        Mortgage Loans and (B) the Adjustable Rate Mortgage Loans, for the following
        Distribution Date;

       

      (x) the
        Certificate Principal Balance or Certificate Notional Amount, as applicable,
        of
        each Class before and after giving effect (i) to all distributions allocable
        to
        principal on such Distribution Date and (ii) the allocation of any Applied
        Realized Loss Amounts for such Distribution Date;

       

      (xi) the
        number and aggregate Stated Principal Balance of the Mortgage Loans in each
        Loan
        Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy)
        (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more
        Delinquent, (B) in foreclosure and delinquent (1) 30 days Delinquent, (2)
        60
        days Delinquent and (3) 90 days or more Delinquent and (C) in bankruptcy
        and
        delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days
        or
        more Delinquent, in each case as of the close of business on the last day
        of the
        calendar month preceding such Distribution Date and separately identifying
        such
        information for the (1) first lien Mortgage Loans, (2) second lien Mortgage
        Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan
        Group;

       

      (xii) the
        amount of aggregate Advances included in the distribution on such Distribution
        Date (including the general purpose of such Advances), the aggregate amount
        of
        unreimbursed Advances as of the end of the Due Period, and the general source
        of
        funds for reimbursements;

       

      (xiii) the
        amount of, if any, of excess cashflow or excess spread and the application
        of
        such excess cashflow;

       

      (xiv) the
        cumulative amount of Applied Realized Loss Amounts through the end of the
        preceding month;

       

      (xv) if
        applicable, material modifications, extensions or waivers to Mortgage Loan
        terms, fees, penalties or payments during the preceding calendar month or
        that
        have become material over time;

       

      (xvi) with
        respect to any Mortgage Loan that was liquidated during the preceding calendar
        month, the aggregate Stated Principal Balance of, and Realized Loss on, such
        Mortgage Loans as of the close of business on the Determination Date preceding
        such Distribution Date;

       

      (xvii) the
        total
        number and principal balance of any real estate owned or REO Properties as
        of
        the close of business on the Determination Date preceding such Distribution
        Date;

       

      (xviii) the
        three
        month rolling average of the percent equivalent of a fraction, the numerator
        of
        which is the aggregate Stated Principal Balance of the Mortgage Loans that
        are
        60 days or more delinquent or are in bankruptcy or foreclosure or are REO
        Properties, and the denominator of which is the aggregate Stated Principal
        Balance of all of the Mortgage Loans in each case as of the close of business
        on
        the last day of the calendar month preceding such Distribution Date and
        separately identifying such information for the (1) first lien Mortgage Loans,
        and (2) Adjustable Rate Mortgage Loans;

       

      (xix) the
        Realized Losses during the related Prepayment Period and the cumulative Realized
        Losses through the end of the preceding month;

       

      (xx) whether
        a
        Trigger Event exists; 

       

      (xxi) the
        amount of the distribution made on such Distribution Date to the Holders
        of the
        Class P Certificates allocable to Prepayment Charges; 

       

      (xxii) information
        on loss, delinquency or other tests used for determining early amortization,
        liquidation, stepdowns or other performance triggers and whether the trigger
        was
        met;

       

      (xxiii) the
        amount of the Prepayment Charges remitted by the Master Servicer and the
        amount
        on deposit in the Reserve Fund;

       

      (xxiv) updated
        pool composition data including the following: weighted average mortgage
        rate
        and weighted average remaining term; 

       

      (xxv) information
        regarding any new issuance of securities backed by the same asset pool, any
        pool
        asset changes, such as additions or removals of Mortgage Loans from the Trust
        Fund, if applicable; and

       

      (xxvi) any
        material changes in the solicitation, credit-granting, underwriting,
        origination, acquisition or Mortgage Loan selection criteria or procedures,
        as
        applicable, used to originate, acquire or select Mortgage Loans for the Trust
        Fund.

       

      The
        Depositor covenants that if there is a material change in the solicitation,
        credit-granting, underwriting, origination, acquisition or Mortgage Loan
        selection criteria or procedures, as applicable, used to originate, acquire
        or
        select Mortgage Loans for the Trust Fund that it will notify the Trustee
        five
        calendar days before each Distribution Date, and if no such notification
        occurs,
        the Trustee has no obligation to report with respect to (xxvi). The Depositor
        covenants to the Trustee that there will be no new issuance of securities
        backed
        by the same asset pool, so the Trustee will only be responsible in (xxv)
        above
        for reporting any pool asset changes, such as additions or removals of Mortgage
        Loans from the Trust Fund.

       

      The
        Trustee may make the foregoing Monthly Statement (and, at its option, any
        additional files containing the same information in an alternative format)
        available each month to Certificateholders via the Trustee’s internet website.
        The Trustee’s internet website shall initially be located at “www.etrustee.net”.
        Assistance in using the website can be obtained by calling the the Trustee
        at
        (312) 992-2745. Parties that are unable to use the above distribution options
        are entitled to have a paper copy mailed to them via first class mail by
        calling
        the Trustee and indicating such. The Trustee may change the way Monthly
        Statements are distributed in order to make such distributions more convenient
        or more accessible to the above parties.

       

      (b) The
        Trustee’s responsibility for making the above information available to the
        Certificateholders is limited to the availability, timeliness and accuracy
        of
        the information derived from the parties providing the information to the
        Trustee. The Trustee will make available a copy of each statement provided
        pursuant to this Section 5.06 to each Rating Agency.

       

      (c) Within
        a
        reasonable period of time after the end of each calendar year, the Trustee
        shall
        cause to be furnished upon request to each Person who at any time during
        the
        calendar year was a Certificateholder, a statement containing the information
        (only with respect to principal and interest) set forth in clauses (a)(v)
        and
        (a)(vi) of this Section 5.06 aggregated for such calendar year or applicable
        portion thereof during which such Person was a Certificateholder. Such
        obligation of the Trustee shall be deemed to have been satisfied to the extent
        that substantially comparable information shall be provided by the Trustee
        pursuant to any requirements of the Code as from time to time in
        effect.

       

      (d) Upon
        filing with the Internal Revenue Service, the Trustee shall furnish to the
        Holders of the Residual Certificates the applicable Form 1066 and each
        applicable Form 1066Q and shall respond promptly to written requests made
        not
        more frequently than quarterly by any Holder of a Residual Certificate with
        respect to the following matters:

       

      (i) The
        original projected principal and interest cash flows on the Closing Date
        on each
        Class of regular and residual interests created hereunder and on the Mortgage
        Loans, based on the Prepayment Assumption;

       

      (ii) The
        projected remaining principal and interest cash flows as of the end of any
        calendar quarter with respect to each class of Regular Interests and Residual
        Interests created hereunder and the Mortgage Loans, based on the Prepayment
        Assumption;

       

      (iii) The
        applicable Prepayment Assumption and any interest rate assumptions used in
        determining the projected principal and interest cash flows described
        above;

       

      (iv) The
        original issue discount (or, in the case of the Mortgage Loans, market discount)
        or premium accrued or amortized through the end of such calendar quarter
        with
        respect to each class of Regular Interests or Residual Interests created
        hereunder and to the Mortgage Loans, together with each constant yield to
        maturity used in computing the same;

       

      (v) The
        treatment of Realized Losses with respect to the Mortgage Loans or the Regular
        Interests created hereunder, including the timing and amount of any cancellation
        of indebtedness income of a REMIC with respect to such Regular Interests
        or bad
        debt deductions claimed with respect to the Mortgage Loans;

       

      (vi) The
        amount and timing of any non-interest expenses of a REMIC; and

       

      (vii) Any
        taxes
        (including penalties and interest) imposed on the REMIC, including, without
        limitation, taxes on “prohibited transactions,” “contributions” or “net income
        from foreclosure property” or state or local income or franchise
        taxes.

       

      The
        information pursuant to clauses (i), (ii), (iii) and (iv) above shall be
        provided by the Depositor pursuant to Section 9.12.

       

      Section
        5.07 REMIC
        Designations and REMIC Distributions. 

       

      (a) The
        Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV,
        REMIC V
        and REMIC VI shall be treated as a REMIC under Section 860D of the Code.
        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
        REMIC elections. The assets of REMIC I shall include the Mortgage Loans and
        all
        interest owing in respect of and principal due thereon, the Distribution
        Account, the Protected Account, any REO Property, any proceeds of the foregoing
        and any other assets subject to this Agreement (other than the Reserve Fund,
        any
        Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the
        Supplemental Interest Trust, the Swap Agreement, the Swap Account and any
        rights
        or obligations in respect of the Swap Administration Agreement). The REMIC
        I
        Regular Interests shall constitute the assets of REMIC II. The REMIC II Regular
        Interests shall constitute the assets of REMIC III. The Class CE Interest
        shall
        constitute the assets of REMIC IV. The Class P Interest shall constitute
        the
        assets of REMIC V. The Class IO Interest shall constitute the assets of REMIC
        VI.

       

      (b)
        (1) On
        each
        Distribution Date, the following amounts with respect to Loan Group I, in
        the
        following order of priority, shall be distributed by REMIC I to REMIC II
        on
        account of REMIC I Regular Interests I-1-A through I-60-B or withdrawn from
        the
        Distribution Account and distributed to the Holders of the Class R-1
        Certificates, as the case may be:

       

      (i) from
        the
        Interest Funds and Principal Funds for Loan Group I, in each case, determined
        without regard to the related clause (2)(ii) of the definitions thereof,
        to
        holders of each of the REMIC I Regular Interests I-1-A through I-60-B,
pro
        rata,
        in an
        amount equal to (A) the Uncertificated Accrued Interest for such REMIC I
        Regular
        Interests for such Distribution Date, plus (B) any amounts payable in respect
        thereof remaining unpaid from previous Distribution Dates; 

       

      (ii) to
        the
        extent of amounts remaining after the distributions made pursuant to clause
        (i)
        above, to REMIC I Regular Interests I-1-A through I-60-B, starting with the
        lowest numerical denomination, until the Uncertificated Principal Balance
        of
        each such REMIC I Regular Interest is reduced to zero, provided that, for
        REMIC
        I Group I Regular Interests with the same numerical denomination, such payments
        of principal shall be allocated pro
        rata
        between
        such REMIC I Regular Interests; and

       

      (iii) 
        any
        remaining amount to the Holders of the Class R-1 Certificates.

       

      (2) On
        each
        Distribution Date, the following amounts with respect to Loan Group II, in
        the
        following order of priority, shall be distributed by REMIC I to REMIC II
        on
        account of REMIC I Regular Interests II-1-A through II-60-B or withdrawn
        from
        the Distribution Account and distributed to the Holders of the Class R-1
        Certificates, as the case may be:

       

      (i)  from
        the
        Interest Funds and Principal Funds for Loan Group II, in each case, determined
        without regard to the related clause (2)(ii) of the definitions thereof,
        to the holders of each of the REMIC I Regular Interests II-1-A through II-60-B,
        pro
        rata,
        in an
        amount equal to (A) the Uncertificated Accrued Interest for such REMIC I
        Regular
        Interests for such Distribution Date, plus (B) any amounts payable in respect
        thereof remaining unpaid from previous Distribution Dates; 

       

      (ii) to
        the
        extent of amounts remaining after the distributions made pursuant to clause
        (i)
        above, to REMIC I Regular Interests II-1-A through II-60-B, starting with
        the
        lowest numerical denomination, until the Uncertificated Principal Balance
        of
        each such REMIC I Regular Interest is reduced to zero, provided that, for
        REMIC
        I Group II Regular Interests with the same numerical denomination, such payments
        of principal shall be allocated pro
        rata
        between
        such REMIC I Regular Interests; and

       

      (iii) any
        remaining amount to the Holders of the Class R-1 Certificates.

       

      (3) On
        each
        Distribution Date, amounts representing Prepayment Charges on the Mortgage
        loans
        shall be deemed distributed to REMIC I Regular Interest P, provided that
        such
        amounts shall not reduce the Uncertificated Principal Balance of REMIC I
        Regular
        Interest P. On the Distribution Date immediately following the expiration
        of the
        latest Prepayment Charge term as identified on the Mortgage Loan Schedule,
        $100
        shall be deemed distributed in respect of REMIC I Regular Interest P in
        reduction of the Uncertificated Principal Balance thereof. 

       

      (c) (1) On
        each
        Distribution Date, the following amounts, in the following order of priority,
        shall be distributed by REMIC II to REMIC III on account of the REMIC II
        Regular
        Interests
        (other
        than REMIC II Regular Interest P) or withdrawn from the Distribution Account
        and
        distributed to the Holders of the Class R-2 Certificates, as the case may
        be:

       

      (i) from
        the
        Interest Funds and Principal Funds for both Loan Groups, in each case,
        determined without regard to the related clause (2)(ii) of the definitions
        thereof, to the holders of REMIC II Regular Interest IO, in an amount equal
        to (A) the Uncertificated Accrued Interest for such REMIC II Regular Interest
        for such Distribution Date, plus (B) any amounts in respect thereof remaining
        unpaid from previous Distribution Dates; 

       

      (ii) to
        the
        extent of the REMIC II Marker Allocation Percentage of the Interest Funds
        and
        Principal Funds for both Loan Groups, in each case, determined without regard
        to
        the related clause (2)(ii) of the definitions thereof, remaining after the
        distribution pursuant to clause (i), to the holders of each REMIC II Regular
        Interest (other than REMIC II Regular Interests IO, 1-Sub, 1-Grp, 2-Sub,
        2-Grp,
        XX and P), pro
        rata,
        in an
        amount equal to (A) the Uncertificated Accrued Interest for such REMIC II
        Regular Interest for such Distribution Date, plus (B) any amounts in respect
        thereof remaining unpaid from previous Distribution Dates. Amounts payable
        as
        Uncertificated Accrued Interest in respect of REMIC II Regular Interest ZZ
        shall
        be reduced when the REMIC II Overcollateralization Amount is less than the
        REMIC
        II Required Overcollateralization Amount, by the lesser of (x) the amount
        of
        such difference and (y) the Maximum Uncertificated Accrued Interest Deferral
        Amount, and such amount will be payable to the holders of each REMIC II Regular
        Interest for which a Class A Certificate or Class M Certificate is the
        Corresponding Certificate in the same proportion as the Extra Principal
        Distribution Amount is allocated to the Corresponding Certificates for each
        such
        REMIC II Regular Interest, and the Uncertificated Principal Balance of REMIC
        II
        Regular Interest ZZ shall be increased by such amount;

       

      (iii) to
        the
        extent of the REMIC II Sub WAC Allocation Percentage of the Interest Funds
        and
        Principal Funds for both Loan Groups, in each case, determined without regard
        to
        the related clause (2)(ii) of the definitions thereof remaining after the
        distribution pursuant to clause (i), to the holders of REMIC II Regular Interest
        1-Sub, REMIC II Regular Interest 1-Grp, REMIC II Regular Interest 2-Sub,
        REMIC
        II Regular Interest 2-Grp and REMIC II Regular Interest XX, pro
        rata,
        an
        amount equal to (A) the Uncertificated Accrued Interest for such Distribution
        Date, plus (B) any amounts in respect thereof remaining unpaid from previous
        Distribution Dates;

       

      (iv) to
        the
        holders of REMIC II Regular Interests (other than REMIC II Regular Interests
        IO,
        1-Sub, 1-Grp, 2-Sub, 2-Grp, XX and P) in an amount equal to the REMIC II
        Marker
        Allocation Percentage of the remainder of the Interest Funds and Principal
        Funds for both Loan Groups, in each case, determined without regard to the
        related clause (2)(ii) of the defintions thereof after the distributions
        made
        pursuant to clauses (i), (ii) and (iii) above, allocated as
        follows:

       

      (A) 98%
        of
        such remainder to the holders of REMIC II Regular Interest AA, until the
        Uncertificated Principal Balance of such REMIC II Regular Interest is reduced
        to
        zero;

       

      (B) 2%
        of
        such remainder, first, to the holders of each REMIC II Regular Interest for
        which a Class A Certificate or Class M Certificate is the Corresponding
        Certificate, in an aggregate amount equal to 1% of and in the same proportion
        as
        principal payments are allocated to the Corresponding Certificates for each
        such
        REMIC II Regular Interest, until the Uncertificated Principal Balances of
        such
        REMIC II Regular Interests are reduced to zero; and second, to the holders
        of
        REMIC II Regular Interest ZZ, until the Uncertificated Principal Balance
        of such
        REMIC II Regular Interest is reduced to zero; and

       

      (C) any
        remaining amount to the Holders of the Class R-2 Certificates;

       

      (v) to
        the
        holders of REMIC II Regular Interest 1-Sub, REMIC II Regular Interest 1-Grp,
        REMIC II Regular Interest 2-Sub, REMIC II Regular Interest 2-Grp and REMIC
        II
        Regular Interest XX, in an amount equal to the REMIC II Sub WAC Allocation
        Percentage of the remainder of the Interest Funds and Principal Funds for
        both Loan Groups, in each case, determined without regard to the related
        clause
        (2)(ii) of the definitions thereof after the distributions made pursuant
        to
        clauses (i), (ii) and (iii) above, first, so as to keep the Uncertificated
        Principal Balance of each REMIC II Regular Interest ending with the designation
        “Grp” equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage
        Loans in the related Loan Group; second, to each REMIC II Regular Interest
        ending with the designation “Sub,” so that the Uncertificated Principal Balance
        of each such REMIC II Regular Interest is equal to 0.01% of the excess of
        (x)
        the aggregate Stated Principal Balance of the Mortgage Loans in the related
        Loan
        Group over (y) the current aggregate Certificate Principal Balance of the
        Class
        A Certificates related to such Loan Group (except that if any such excess
        is a
        larger number than in the preceding distribution period, the least amount
        of
        principal shall be distributed to such REMIC II Regular Interests such that
        the
        REMIC II Subordinated Balance Ratio is maintained); third, to REMIC II Regular
        Interest XX, until the Uncertificated Principal Balance of such REMIC II
        Regular
        Interest is reduced to zero; and fourth, any remaining amount to the Holders
        of
        the Class R-2 Certificates.

       

      (2) On
        each
        Distribution Date, amounts representing Prepayment Charges on the Mortgage
        loans
        deemed distributed in respect of REMIC I Regular Interest P shall be deemed
        to
        be distributed to REMIC II Regular Interest P, provided that such amounts
        shall
        not reduce the Uncertificated Principal Balance of REMIC II Regular Interest
        P.
        On the Distribution Date immediately following the expiration of the latest
        Prepayment Charge term as identified on the Mortgage Loan Schedule, an amount
        equal to $100 deemed distributed in respect of REMIC I Regular Interest P
        in
        reduction of the Uncertificated Principal Balance thereof shall be deemed
        to be
        distributed to REMIC II Regular Interest P in reduction of the Uncertificated
        Principal Balance thereof. 

       

      (d) On
        each
        Distribution Date, interest shall be deemed payable from REMIC III to the
        holders of each REMIC III Regular Interest the ownership of which is represented
        by the Class A Certificates and Class M Certificates at a pass-through rate
        equal to the lesser of (i) the One-Month LIBOR Pass-Through Rate for the
        Corresponding Certificate and (ii) the Net Rate Cap for the REMIC III Regular
        Interest the ownership of which is represented by the Corresponding Certificate
        for such Distribution Date, in each case on a principal balance equal to
        the
        Certificate Principal Balance of the Corresponding Certificate for such
        Distribution Date. For the avoidance of doubt, principal shall be payable
        to,
        and shortfalls, losses and prepayments shall be allocable to, the REMIC III
        Regular Interests the ownership of which is represented by the Class A
        Certificates and Class M Certificates as such amounts are payable and allocable
        to the Corresponding Certificates.

       

      (e) On
        each
        Distribution Date, an amount equal to the amounts distributed pursuant to
        Sections 5.04(a)(4)(C), (D) and (G) on such date shall be deemed distributed
        from REMIC III to REMIC IV in respect of the Class CE Distribution Amount
        distributable to the Class CE Interest.

       

      (f) On
        each
        Distribution Date, 100% of the amount deemed distributed on REMIC II Regular
        Interest P shall be deemed distributed by REMIC III to REMIC V in respect
        of the
        Class P Interest.

       

      (g) On
        each
        Distribution Date, 100% of the amount deemed distributed on REMIC II Regular
        Interest IO shall be deemed distributed by REMIC III to REMIC VI in respect
        of
        the Class IO Interest. Such amount shall be deemed distributed by REMIC VI
        to
        the Swap Administrator for deposit into the Swap Account.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        VI

       

      THE
        CERTIFICATES

       

      Section
        6.01 The
        Certificates. 

       

      The
        Certificates shall be substantially in the forms attached hereto as Exhibits
        A-1
        through A-5. The Certificates shall be issuable in registered form, in the
        minimum dollar denominations, integral dollar multiples in excess thereof
        (except that one Certificate of each Class may be issued in a different amount
        which must be in excess of the applicable minimum dollar denomination) and
        aggregate dollar denominations as set forth in the following table:

       

      
        	
                Class

              	 	
                Minimum
                  Denomination

              	 	
                Integral
                  Multiple in Excess of Minimum

              	 	
                Original
                  Certificate Principal Balance or Notional Amount

              	 
	
                I-A-1

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                101,384,000.00

              	 
	
                I-A-2

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                42,862,000.00

              	 
	
                I-A-3

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                10,744,000.00

              	 
	
                II-A

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                162,020,000.00

              	 
	
                M-1

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                16,880,000.00

              	 
	
                M-2

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                15,027,000.00

              	 
	
                M-3

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                9,263,000.00

              	 
	
                M-4

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                7,822,000.00

              	 
	
                M-5

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                7,411,000.00

              	 
	
                M-6

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                6,587,000.00

              	 
	
                M-7

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                6,381,000.00

              	 
	
                M-8

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                5,970,000.00

              	 
	
                M-9

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                4,323,000.00

              	 
	
                M-10

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                3,705,000.00

              	 
	
                M-11

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1.00

              	 	
                $

              	
                3,911,000.00

              	 
	
                CE

              	 	 	
                10

              	
                %

              	 	
                1

              	
                %

              	
                $

              	
                411,700,971.74(1

              	
                )

              
	
                P

              	 	 	
                100

              	 	 	
                N/A

              	 	
                $

              	
                100.00

              	 
	
                R-1

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	 
	
                R-2

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	 
	
                R-3

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	 
	
                RX

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	 

      

       

      (1) This
        is a
        Notional Amount.

      

      The
        Certificates shall be executed by manual or facsimile signature on behalf
        of the
        Trustee by an authorized 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 bind the Trustee,
        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 authentication and delivery. No
        Certificate shall be entitled to any benefit under this Agreement, or be
        valid
        for any purpose, unless there appears on such Certificate the countersignature
        of the Trustee by manual signature, and such countersignature upon any
        Certificate shall be conclusive evidence, and the only evidence, that such
        Certificate has been duly countersigned and delivered hereunder. All
        Certificates shall be dated the date of their countersignature. On the Closing
        Date, the Trustee shall authenticate the Certificates to be issued at the
        written direction of the Depositor, or any affiliate thereof.

       

      The
        Depositor shall provide, or cause to be provided, to the Trustee on a continuous
        basis, an adequate inventory of Certificates to facilitate
        transfers.

       

      Section
        6.02 Certificate
        Register; Registration of Transfer and Exchange of Certificates. 

       

      (a) The
        Trustee shall maintain, or cause to be maintained in accordance with the
        provisions of Section 6.09 hereof, a Certificate Register for the Trust Fund
        in
        which, subject to the provisions of subsections (b) and (c) below and to
        such
        reasonable regulations as it may prescribe, the Trustee shall provide for
        the
        registration of Certificates and of Transfers and exchanges of Certificates
        as
        herein provided. Upon surrender for registration of Transfer of any Certificate,
        the Trustee shall authenticate and deliver, in the name of the designated
        transferee or transferees, one or more new Certificates of the same Class
        and of
        like aggregate Percentage Interest.

       

      At
        the
        option of a Certificateholder, Certificates may be exchanged for other
        Certificates of the same Class in authorized denominations and evidencing
        the
        same aggregate Percentage Interest upon surrender of the Certificates to
        be
        exchanged at the office or agency of the Trustee. Whenever any Certificates
        are
        so surrendered for exchange, the Trustee shall execute, authenticate, and
        deliver the Certificates that the Certificateholder making the exchange is
        entitled to receive. Every Certificate presented or surrendered for registration
        of Transfer or exchange shall be accompanied by a written instrument of Transfer
        in form satisfactory to the Trustee duly executed by the Holder thereof or
        his
        attorney duly authorized in writing.

       

      No
        service charge to the Certificateholders shall be made for any registration
        of
        Transfer or exchange of Certificates, but 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 may be required.

       

      All
        Certificates surrendered for registration of Transfer or exchange shall be
        canceled and subsequently destroyed by the Trustee in accordance with the
        Trustee’s customary procedures.

       

      (b) Subject
        to Section 6.07 and, in the case of any Global Certificate or Private
        Certificate upon the satisfaction of the conditions set forth below, upon
        surrender for registration of transfer of any Certificate at any office or
        agency of the Trustee maintained for such purpose, the Trustee shall sign,
        countersign and shall deliver, in the name of the designated transferee or
        transferees, a new Certificate of a like Class and aggregate Percentage
        Interest, but bearing a different number.

       

      (c) Subject
        to subsection 6.02(g), so long as a Global Certificate of such Class is
        outstanding and is held by or on behalf of the Depository, transfers of
        beneficial interests in such Global Certificate, or transfers by Holders
        of
        Individual Certificates of such Class to transferees that take delivery in
        the
        form of beneficial interests in the Global Certificate, may be made only
        in
        accordance with this subsection 6.02(c) and in accordance with the rules
        of the
        Depository:

       

      (i) In
        the
        case of a beneficial interest in the Global Certificate being transferred
        to an
        Institutional Accredited Investor, such transferee shall be required to take
        delivery in the form of an Individual Certificate or Certificates and the
        Trustee shall register such transfer only upon compliance with the provisions
        of
        subsection 6.02(h).

       

      (ii) In
        the
        case of a beneficial interest in a Class of Global Certificates being
        transferred to a transferee that takes delivery in the form of an Individual
        Certificate or Certificates of such Class, except as set forth in clause
        (i)
        above, the Trustee shall register such transfer only upon compliance with
        the
        provisions of subsection 6.02(h).

       

      (iii) In
        the
        case of an Individual Certificate of a Class being transferred to a transferee
        that takes delivery in the form of a beneficial interest in a Global Certificate
        of such Class, the Trustee shall register such transfer if the transferee
        has
        provided the Trustee with a Rule 144A and Related Matters Certificate or
        comparable evidence as to its QIB status.

       

      (iv) No
        restrictions shall apply with respect to the transfer or registration of
        transfer of a beneficial interest in the Global Certificate of a Class to
        a
        transferee that takes delivery in the form of a beneficial interest in the
        Global Certificate of such Class; provided that each such transferee shall
        be
        deemed to have made such representations and warranties contained in the
        Rule
        144A and Related Matters Certificate as are sufficient to establish that
        it is a
        QIB.

       

      (d) Subject
        to subsection 6.02(g), an exchange of a beneficial interest in a Global
        Certificate of a Class for an Individual Certificate or Certificates of such
        Class, an exchange of an Individual Certificate or Certificates of a Class
        for a
        beneficial interest in the Global Certificate of such Class and an exchange
        of
        an Individual Certificate or Certificates of a Class for another Individual
        Certificate or Certificates of such Class (in each case, whether or not such
        exchange is made in anticipation of subsequent transfer, and, in the case
        of the
        Global Certificate of such Class, so long as such Certificate is outstanding
        and
        is held by or on behalf of the Depository) may be made only in accordance
        with
        this subsection 6.02(d) and in accordance with the rules of the
        Depository:

       

      (i) A
        Holder
        of a beneficial interest in a Global Certificate of a Class may at any time
        exchange such beneficial interest for an Individual Certificate or Certificates
        of such Class.

       

      (ii) A
        Holder
        of an Individual Certificate or Certificates of a Class may exchange such
        Certificate or Certificates for a beneficial interest in the Global Certificate
        of such Class if such holder furnishes to the Trustee a Rule 144A and Related
        Matters Certificate or comparable evidence as to its QIB status.

       

      (iii) A
        Holder
        of an Individual Certificate of a Class may exchange such Certificate for
        an
        equal aggregate principal amount of Individual Certificates of such Class
        in
        different authorized denominations without any certification.

       

      (e) (i) Upon
        acceptance for exchange or transfer of an Individual Certificate of a Class
        for
        a beneficial interest in a Global Certificate of such Class as provided herein,
        the Trustee shall cancel such Individual Certificate and shall (or shall
        request
        the Depository to) endorse on the schedule affixed to the applicable Global
        Certificate (or on a continuation of such schedule affixed to the Global
        Certificate and made a part thereof) or otherwise make in its books and records
        an appropriate notation evidencing the date of such exchange or transfer
        and an
        increase in the certificate balance of the Global Certificate equal to the
        certificate balance of such Individual Certificate exchanged or transferred
        therefor.

       

      (ii) Upon
        acceptance for exchange or transfer of a beneficial interest in a Global
        Certificate of a Class for an Individual Certificate of such Class as provided
        herein, the Trustee shall (or shall request the Depository to) endorse on
        the
        schedule affixed to such Global Certificate (or on a continuation of such
        schedule affixed to such Global Certificate and made a part thereof) or
        otherwise make in its books and records an appropriate notation evidencing
        the
        date of such exchange or transfer and a decrease in the certificate balance
        of
        such Global Certificate equal to the certificate balance of such Individual
        Certificate issued in exchange therefor or upon transfer thereof.

       

      (f) Any
        Individual Certificate issued in exchange for or upon transfer of another
        Individual Certificate or of a beneficial interest in a Global Certificate
        shall
        bear the applicable legends set forth in Exhibit A-2.

       

      (g) Subject
        to the restrictions on transfer and exchange set forth in this Section 6.02,
        the
        Holder of any Individual Certificate may transfer or exchange the same in
        whole
        or in part (in an initial certificate balance equal to the minimum authorized
        denomination set forth in Section 6.01 above or any integral multiple of
        $1.00
        in excess thereof) by surrendering such Certificate at the Corporate Trust
        Office, or at the office of any transfer agent, together with an executed
        instrument of assignment and transfer satisfactory in form and substance
        to the
        Trustee in the case of transfer and a written request for exchange in the
        case
        of exchange. The Holder of a beneficial interest in a Global Certificate
        may,
        subject to the rules and procedures of the Depository, cause the Depository
        (or
        its nominee) to notify the Trustee in writing of a request for transfer or
        exchange of such beneficial interest for an Individual Certificate or
        Certificates. Following a proper request for transfer or exchange, the Trustee
        shall, within five Business Days of such request made at the Corporate Trust
        Office, sign, countersign and deliver at the Corporate Trust Office, to the
        transferee (in the case of transfer) or Holder (in the case of exchange)
        or send
        by first class mail at the risk of the transferee (in the case of transfer)
        or
        Holder (in the case of exchange) to such address as the transferee or Holder,
        as
        applicable, may request, an Individual Certificate or Certificates, as the
        case
        may require, for a like aggregate Percentage Interest and in such authorized
        denomination or denominations as may be requested. The presentation for transfer
        or exchange of any Individual Certificate shall not be valid unless made
        at the
        Corporate Trust Office by the registered Holder in person, or by a duly
        authorized attorney-in-fact.

       

      (h) No
        Transfer of a Private Certificate shall be made unless such Transfer is made
        pursuant to an effective registration statement under the Securities Act
        and any
        applicable state securities laws or is exempt from the registration requirements
        under the Securities Act and such state securities laws. In the event that
        a
        Transfer is to be made in reliance upon an exemption from the Securities
        Act and
        such laws, in order to assure compliance with the Securities Act and such
        laws,
        the Certificateholder desiring to effect such Transfer and such
        Certificateholder’s prospective transferee shall each certify to the Trustee in
        writing the facts surrounding the Transfer by (x)(i) the delivery to the
        Trustee
        by the Certificateholder desiring to effect such transfer of a certificate
        substantially in the form set forth in Exhibit D (the “Transferor Certificate”)
        and (ii) the delivery by the Certificateholder’s prospective transferee of (A) a
        letter in substantially the form of Exhibit E (the “Investment Letter”) if the
        prospective transferee is an Institutional Accredited Investor or (B) a letter
        in substantially the form of Exhibit F (the “Rule 144A and Related Matters
        Certificate”) if the prospective transferee is a QIB or (y) there shall be
        delivered to the Trustee an Opinion of Counsel addressed to the Trustee that
        such Transfer may be made pursuant to an exemption from the Securities Act,
        which Opinion of Counsel shall not be an expense of the Depositor, the Sellers,
        the Master Servicer or the Trustee. Notwithstanding the provisions of the
        immediately preceding sentence, no restrictions shall apply with respect
        to the
        transfer or registration of transfer of a beneficial interest in any Certificate
        that is a Global Certificate of a Class to a transferee that takes delivery
        in
        the form of a beneficial interest in the Global Certificate of such Class
        provided that each such transferee shall be deemed to have made such
        representations and warranties contained in the Rule 144A and Related Matters
        Certificate as are sufficient to establish that it is a QIB. The Depositor
        shall
        provide to any Holder of a Private Certificate and any prospective transferee
        designated by any such Holder, information regarding the related Certificates
        and the Mortgage Loans and such other information as shall be necessary to
        satisfy the condition to eligibility set forth in Rule 144A(d)(4) for Transfer
        of any such Certificate without registration thereof under the Securities
        Act
        pursuant to the registration exemption provided by Rule 144A. The Trustee
        and
        the Master Servicer shall cooperate with the Depositor in providing the Rule
        144A information referenced in the preceding sentence, including providing
        to
        the Depositor such information regarding the Certificates, the Mortgage Loans
        and other matters regarding the Trust Fund as the Depositor shall reasonably
        request to meet its obligation under the preceding sentence. Each Holder
        of a
        Private Certificate desiring to effect such Transfer shall, and does hereby
        agree to, indemnify the Trustee, the Depositor, the Sellers and the Master
        Servicer 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.

       

      Prior
        to
        the termination of the Supplemental Interest Trust, no Transfer of a Class
        A
        Certificate or Class M Certificate shall be made unless either (i) the Trustee
        shall have received a representation from the transferee of such Certificate
        acceptable to and in form and substance satisfactory to the Trustee, to the
        effect that such transferee is not an employee benefit plan subject to Section
        406 of ERISA or a plan subject to Section 4975 of the Code (either a “Plan”), or
        a Person acting on behalf of a Plan or using the assets a Plan, or (ii) the
        transferee provides a representation, or is deemed to represent in the case
        of
        the Global Certificate that (A) such plan is an accredited investor within
        the
        meaning of the Exemption and (B) the proposed transfer or holding of such
        Certificate are eligible for exemptive relief under Prohibited Transaction
        Class
        Exemption (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 or PTCE 96-23.

       

      Subsequent
        to the termination of the Supplemental Interest Trust, each beneficial owner
        of
        a Class M Certificate (other than a Class M-10 Certificate or Class M-11
        Certificate) or any interest therein shall be deemed to have represented,
        by
        virtue of its acquisition or holding of that certificate or interest therein,
        that either (a)(i) it is not a Plan or investing with “Plan Assets”, (ii) it has
        acquired and is holding such certificate in reliance on the Exemption, and
        that
        it understands that there are certain conditions to the availability of the
        Exemption, including that the certificate must be rated, at the time of
        purchase, not lower than “BBB-” (or its equivalent) by S&P, Fitch or
        Moody’s, and the certificate is so rated or (iii) (1) it is an insurance
        company, (2) the source of funds used to acquire or hold the certificate
        or
        interest therein is an “insurance company general account,” as such term is
        defined in PTCE 95-60, and (3) the conditions in Sections I and III of PTCE
        95-60 have been satisfied.

       

      Neither
        the Trustee nor the Master Servicer will be required to monitor, determine
        or
        inquire as to compliance with the transfer restrictions with respect to the
        Global Certificates. Any attempted or purported transfer of any Certificate
        in
        violation of the provisions of this Section 6.02 shall be void ab initio
        and
        such Certificate shall be considered to have been held continuously by the
        prior
        permitted Certificateholder. Any transferor of any Certificate in violation
        of
        such provisions, shall indemnify and hold harmless the Trustee and the Master
        Servicer from and against any and all liabilities, claims, costs or expenses
        incurred by the Trustee or the Master Servicer as a result of such attempted
        or
        purported transfer. Neither the Trustee nor the Master Servicer shall have
        any
        liability for transfer of any such Global Certificates in or through book-entry
        facilities of any Depository or between or among Depository Participants
        or
        Certificate Owners made in violation of the transfer restrictions set forth
        herein. Neither
        the Trustee nor the Master Servicer shall be required to monitor, determine
        or
        inquire as to compliance with the transfer restrictions with respect to any
        ERISA Restricted Certificate that is a Book-Entry Certificate, and neither
        the Trustee nor the Master Servicer shall have any liability for transfers
        of
        any such Book-Entry Certificates made through the book-entry facilities of
        any
        Depository or between or among participants of the Depository or Certificate
        Owners made in violation of the transfer restrictions set forth herein. Neither
        the Trustee nor the Master Servicer shall be under 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(h) 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. The Trustee shall
        be
        entitled, but not obligated, to recover from any Holder of any ERISA Restricted
        Certificate that was in fact a Plan or a Person acting on behalf of a Plan
        at
        the time it became a Holder or, at such subsequent time as it became a Plan
        or
        Person acting on behalf of a Plan, all payments made on such ERISA Restricted
        Certificate at and after either such time. Any such payments so recovered
        by the
        Trustee shall be paid and delivered by the Trustee to the last preceding
        Holder
        of such Certificate that is not a Plan or Person acting on behalf of a
        Plan.

       

      No
        Transfer of a Class M-10, Class M-11, Class CE, Class P or Residual Certificate
        shall be made unless either (i) the transferee of such Certificate provides
        a
        representation, or is deemed to represent in the case of a Global Certificate,
        to the Trustee and the Master Servicer acceptable to and in form and substance
        satisfactory to the Trustee and the Master Servicer, to the effect that such
        transferee is not a Plan, or a Person acting on behalf of a Plan or using
        the
        assets of a Plan, or (ii) in the case of any such Certificate presented for
        registration in the name of a Plan, or a trustee of a Plan or any other person
        acting on behalf of a Plan, the Trustee shall have received an Opinion of
        Counsel for the benefit of the Trustee and the Master Servicer and on which
        they
        may rely, satisfactory to the Trustee, to the effect that the purchase and
        holding of such Certificate are permissible under applicable law, will not
        result in any prohibited transactions under ERISA or Section 4975 of the
        Code
        and will not subject the Trustee, the Master Servicer or the Depositor to
        any
        obligation in addition to those expressly undertaken in this Agreement, which
        Opinion of Counsel shall not be an expense of the Trustee, the Master Servicer
        or the Depositor, or (iii) in the case of a Class M-10 Certificate or Class
        M-11
        Certificate, the transferee provides a representation, or is deemed to represent
        in the case of the Global Certificate, or an Opinion of Counsel to the effect
        that the proposed transfer or holding of such Class M-10 Certificate or Class
        M-11 Certificate and the servicing, management and operation of the Trust
        and
        its assets: (I) will not result in any prohibited transaction which is not
        covered under PTCE 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 or PTCE 96-23
        and
        (II) will not give rise to any obligation on the part of the Depositor, the
        Master Servicer or the Trustee in addition to those expressly undertaken
        in this
        Agreement. Neither the Trustee nor the Master Servicer shall be required
        to
        monitor, determine or inquire as to compliance with the transfer restrictions
        with respect to any Private Certificate that is a Book-Entry Certificate,
        and
        neither the Trustee nor the Master Servicer shall have any liability for
        transfers of any such Book-Entry Certificates made through the book-entry
        facilities of any Depository or between or among participants of the Depository
        or Certificate Owners made in violation of the transfer restrictions set
        forth
        herein. Neither the Trustee nor the Master Servicer shall be under any liability
        to any Person for any registration of transfer of any Private Certificate
        that
        is in fact not permitted by this Section 6.02(h) 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. The Trustee
        shall
        be entitled, but not obligated, to recover from any Holder of any Private
        Certificate that was in fact a Plan or a Person acting on behalf of a Plan
        at
        the time it became a Holder or, at such subsequent time as it became a Plan
        or
        Person acting on behalf of a Plan, all payments made on such Private Certificate
        at and after either such time. Any such payments so recovered by the Trustee
        shall be paid and delivered by the Trustee to the last preceding Holder of
        such
        Certificate that is not a Plan or Person acting on behalf of a
        Plan.

       

      (i) 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 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 and shall promptly notify the Trustee of
        any
        change or impending change in its status as a Permitted Transferee.

       

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

       

      (iii) Each
        Person holding or acquiring any Ownership Interest in a Residual Certificate
        shall agree (A) to obtain a Transfer Affidavit from any other Person to whom
        such Person attempts to Transfer its Ownership Interest in a Residual
        Certificate, (B) to obtain a Transfer Affidavit from any Person for whom
        such
        Person is acting as nominee, trustee or agent in connection with any Transfer
        of
        a Residual Certificate and (C) not to Transfer its Ownership Interest in
        a
        Residual Certificate or to cause the Transfer of an Ownership Interest in
        a
        Residual Certificate to any other Person if it has actual knowledge that
        such
        Person is not a Permitted Transferee.

       

      (iv) Any
        attempted or purported Transfer of any Ownership Interest in a Residual
        Certificate in violation of the provisions of this Section 6.02(i) shall
        be
        absolutely null and void and shall vest no rights in the purported transferee.
        If any purported transferee shall become a Holder of a Residual Certificate
        in
        violation of the provisions of this Section 6.02(i), then the last preceding
        Permitted Transferee shall be restored to all rights as Holder thereof
        retroactive to the date of registration of Transfer of such Residual
        Certificate. The Trustee shall be under no liability to any Person for any
        registration of Transfer of a Residual Certificate that is in fact not permitted
        by Section 6.02(h) and this Section 6.02(i) 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 after receipt of the related Transfer Affidavit. The Trustee
        shall be entitled but not obligated to recover from any Holder of a Residual
        Certificate that was in fact not a Permitted Transferee at the time it became
        a
        Holder or, at such subsequent time as it became other than a Permitted
        Transferee, all payments made on such Residual Certificate at and after either
        such time. Any such payments so recovered by the Trustee shall be paid and
        delivered by the Trustee to the last preceding Permitted Transferee of such
        Certificate.

       

      (v) The
        Master Servicer shall make available within 60 days of written request from
        the
        Trustee, all information necessary to compute any tax imposed under Section
        860E(e) of the Code as a result of a Transfer of an Ownership Interest in
        a
        Residual Certificate to any Holder who is not a Permitted
        Transferee.

       

      The
        restrictions on Transfers of a Residual Certificate set forth in this Section
        6.02(i) shall cease to apply (and the applicable portions of the legend on
        a
        Residual Certificate may be deleted) with respect to Transfers occurring
        after
        delivery to the Trustee of an Opinion of Counsel addressed to the Trustee,
        which
        Opinion of Counsel shall not be an expense of the Trustee, the Sellers or
        the
        Master Servicer to the effect that the elimination of such restrictions,
        or any
        Transfer allowed by the elimination of such restrictions, will not cause
        REMIC
        I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI, as applicable, to
        fail to
        qualify as a REMIC at any time that the Certificates are outstanding or result
        in the imposition of any tax on the Trust Fund, a Certificateholder or another
        Person. Each Person holding or acquiring any Ownership Interest in a Residual
        Certificate hereby consents to any amendment of this Agreement that, based
        on an
        Opinion of Counsel addressed to the Trustee and furnished to the Trustee,
        is
        reasonably necessary (a) to ensure that the record ownership of, or any
        beneficial interest in, a Residual Certificate is not transferred, directly
        or
        indirectly, to a Person that is not a Permitted Transferee and (b) to provide
        for a means to compel the Transfer of a Residual Certificate that is held
        by a
        Person that is not a Permitted Transferee to a Holder that is a Permitted
        Transferee.

       

      (j) The
        preparation and delivery of all certificates and opinions referred to above
        in
        this Section 6.02 shall not be an expense of the Trust Fund, the Trustee,
        the
        Depositor, the Sellers or the Master Servicer.

       

      Section
        6.03 Mutilated,
        Destroyed, Lost or Stolen Certificates. 

       

      If
        (a)
        any mutilated Certificate is surrendered to the Trustee, or the Trustee receives
        evidence to its satisfaction of the destruction, loss or theft of any
        Certificate and of the ownership thereof and (b) there is delivered to the
        Trustee 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 that such
        Certificate has been acquired by a bona fide purchaser, the Trustee shall
        execute, authenticate and deliver, in exchange for or in lieu of any such
        mutilated, destroyed, lost or stolen Certificate, a new Certificate of like
        Class, tenor and Percentage Interest. In connection with the issuance of
        any new
        Certificate under this Section 6.03, the Trustee 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 Trustee) connected therewith. Any replacement Certificate issued pursuant
        to
        this Section 6.03 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. All Certificates
        surrendered to the Trustee under the terms of this Section 6.03 shall be
        canceled and destroyed by the Trustee in accordance with its standard procedures
        without liability on its part.

       

      Section
        6.04 Persons
        Deemed Owners. 

       

      The
        Trustee and any agent of the Trustee may treat the person in whose name any
        Certificate is registered as the owner of such Certificate for the purpose
        of
        receiving distributions as provided in this Agreement and for all other purposes
        whatsoever, and neither the Trustee nor any agent of the Trustee shall be
        affected by any notice to the contrary.

       

      Section
        6.05 Access
        to List of Certificateholders’ Names and Addresses. 

       

      If
        three
        or more Certificateholders (a) request such information in writing from the
        Trustee, (b) state that such Certificateholders desire to communicate with
        other
        Certificateholders with respect to their rights under this Agreement or under
        the Certificates, and (c) provide a copy of the communication that such
        Certificateholders propose to transmit or if the Depositor or the Master
        Servicer shall request such information in writing from the Trustee, then
        the
        Trustee shall, within ten Business Days after the receipt of such request,
        provide the Depositor, the Master Servicer or such Certificateholders at
        such
        recipients’ expense the most recent list of the Certificateholders of the Trust
        Fund held by the Trustee, if any. The Depositor and every Certificateholder,
        by
        receiving and holding a Certificate, agree that the Trustee shall not be
        held
        accountable by reason of the disclosure of any such information as to the
        list
        of the Certificateholders hereunder, regardless of the source from which
        such
        information was derived.

       

      Section
        6.06 Book-Entry
        Certificates. 

       

      The
        Regular Certificates (other than the than the M-10, Class CE and Class P
        Certificates), upon original issuance, shall be issued in the form of one
        or
        more typewritten Certificates representing the Book-Entry Certificates, to
        be
        delivered to the Depository by or on behalf of the Depositor. Such Certificates
        shall initially be registered on the Certificate Register in the name of
        the
        Depository or its nominee, and no Certificate Owner of such Certificates
        will
        receive a definitive certificate representing such Certificate Owner’s interest
        in such Certificates, except as provided in Section 6.08. Unless and until
        definitive, fully registered Certificates (“Definitive Certificates”) have been
        issued to the Certificate Owners of such Certificates pursuant to Section
        6.08:

       

      (a) the
        provisions of this Section shall be in full force and effect;

       

      (b) the
        Depositor and the Trustee may deal with the Depository and the Depository
        Participants for all purposes (including the making of distributions) as
        the
        authorized representative of the respective Certificate Owners of such
        Certificates;

       

      (c) registration
        of the Book-Entry Certificates may not be transferred by the Trustee except
        to
        another Depository;

       

      (d) the
        rights of the respective Certificate Owners of such Certificates shall be
        exercised only through the Depository and the Depository Participants and
        shall
        be limited to those established by law and agreements between the Owners
        of such
        Certificates and the Depository and/or the Depository Participants. Pursuant
        to
        the Depository Agreement, unless and until Definitive Certificates are issued
        pursuant to Section 6.08, the Depository will make book-entry transfers among
        the Depository Participants and receive and transmit distributions of principal
        and interest on the related Certificates to such Depository
        Participants;

       

      (e) the
        Depository may collect its usual and customary fees, charges and expenses
        from
        its Depository Participants;

       

      (f) the
        Trustee may rely and shall be fully protected in relying upon information
        furnished by the Depository with respect to its Depository Participants;
        and

       

      (g) to
        the
        extent that the provisions of this Section conflict with any other provisions
        of
        this Agreement, the provisions of this Section shall control.

       

      For
        purposes of any provision of this Agreement requiring or permitting actions
        with
        the consent of, or at the direction of, Certificateholders evidencing a
        specified percentage of the aggregate unpaid principal amount of any Class
        of
        Certificates, such direction or consent may be given by Certificate Owners
        (acting through the Depository and the Depository Participants) owning
        Book-Entry Certificates evidencing the requisite percentage of principal
        amount
        of such Class of Certificates.

       

      The
        Private Certificates shall initially be held in fully registered certificated
        form. If at any time the Holders of all of the Certificates of one or more
        such
        Classes request that the Trustee cause such Class to become Global Certificates,
        the Depositor (with the assistance of the Trustee) will take such action
        as may
        be reasonably required to cause the Depository to accept such Class or Classes
        for trading if it may legally be so traded. If at anytime there are to be
        Global
        Certificates, the Global Certificates shall be delivered to the Depository
        by
        the Depositor or deposited with the Trustee as custodian for the
        Depository.

       

      All
        transfers by Certificate Owners of such respective Classes of Book-Entry
        Certificates and any Global 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 it represents or of
        brokerage firms for which it acts as agent in accordance with the Depository’s
        normal procedures.

       

      Section
        6.07 Notices
        to Depository. 

       

      Whenever
        any notice or other communication is required to be given to Certificateholders
        of a Class with respect to which Book-Entry Certificates have been issued,
        unless and until Definitive Certificates shall have been issued to the related
        Certificate Owners, the Trustee shall give all such notices and communications
        to the Depository.

       

      Section
        6.08 Definitive
        Certificates. 

       

      If,
        after
        Book-Entry Certificates have been issued with respect to any Certificates,
        (a)
        the Depositor or the Depository advises the Trustee that the Depository is
        no
        longer willing or able to discharge properly its responsibilities under the
        Depository Agreement with respect to such Certificates and the Depositor
        is
        unable to locate a qualified successor or (b) the Depositor, with the consent
        of
        Depository Participants, advises the Trustee that it elects to terminate
        the
        book-entry system with respect to such Certificates through the Depository,
        then
        the Trustee shall notify all Certificate Owners of such Certificates, through
        the Depository, of the occurrence of any such event and of the availability
        of
        Definitive Certificates to applicable Certificate Owners requesting the same.
        The Depositor shall provide the Trustee with an adequate inventory of
        certificates to facilitate the issuance and transfer of Definitive Certificates.
        Upon surrender to the Trustee of any such Certificates by the Depository,
        accompanied by registration instructions from the Depository for registration,
        the Trustee shall countersign and deliver such Definitive Certificates. Neither
        the Depositor nor the Trustee shall be liable for any delay in delivery of
        such
        instructions and each may conclusively rely on, and shall be protected in
        relying on, such instructions.

       

      In
        addition, if an Event of Default has occurred and is continuing, each
        Certificate Owner materially adversely affected thereby may at its option
        request a Definitive Certificate evidencing such Certificate Owner’s Voting
        Rights in the related Class of Certificates. In order to make such request,
        such
        Certificate Owner shall, subject to the rules and procedures of the Depository,
        provide the Depository or the related Depository Participant with directions
        for
        the Trustee to exchange or cause the exchange of the Certificate Owner’s
        interest in such Class of Certificates for an equivalent Voting Right in
        fully
        registered definitive form. Upon receipt by the Trustee of instructions from
        the
        Depository directing the Trustee to effect such exchange (such instructions
        to
        contain information regarding the Class of Certificates and the Certificate
        Principal Balance being exchanged, the Depository Participant account to
        be
        debited with the decrease, the registered Holder of and delivery instructions
        for the definitive Certificate, and any other information reasonably required
        by
        the Trustee), (i) the Trustee shall instruct the Depository to reduce the
        related Depository Participant’s account by the aggregate Certificate Principal
        Balance of the definitive Certificate, (ii) the Trustee shall execute,
        authenticate and deliver, in accordance with the registration and delivery
        instructions provided by the Depository, a definitive Certificate evidencing
        such Certificate Owner’s Voting Rights in such Class of Certificates and (iii)
        the Trustee shall execute and authenticate a new Book-Entry Certificate
        reflecting the reduction in the Certificate Principal Balance of such Class
        of
        Certificates by the amount of the definitive Certificates.

       

      Section
        6.09 Maintenance
        of Office or Agency. 

       

      The
        Trustee will maintain or cause to be maintained at its expense an office
        or
        offices or agency or agencies at the Corporate Trust Office where Certificates
        may be surrendered for registration of transfer or exchange. The Trustee
        initially designates its Corporate Trust Office, as the office for such
        purposes. The Trustee will give prompt written notice to the Certificateholders
        of any change in such location of any such office or agency.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        VII

       

      THE
        DEPOSITOR AND THE MASTER SERVICER

       

      Section
        7.01 Liabilities
        of the Depositor and the Master Servicer. 

       

      Each
        of
        the Depositor, and the Master Servicer shall be liable in accordance herewith
        only to the extent of the obligations specifically imposed upon and undertaken
        by it herein.

       

      Section
        7.02 Merger
        or Consolidation of the Depositor or the Master Servicer. 

       

      (a) Each
        of
        the Depositor and the Master Servicer will keep in full force and effect
        its
        existence, rights and franchises as a corporation under the laws of the state
        of
        its incorporation, and will obtain and preserve its qualification to do business
        as a foreign corporation in each jurisdiction in which such qualification
        is or
        shall be necessary to protect the validity and enforceability of this Agreement,
        the Certificates or any of the Mortgage Loans and to perform its duties under
        this Agreement.

       

      (b) Any
        Person into which the Depositor or the Master Servicer may be merged or
        consolidated, or any corporation resulting from any merger or consolidation
        to
        which the Depositor or the Master Servicer shall be a party, or any Person
        succeeding to the business of the Depositor or the Master Servicer, shall
        be the
        successor of the Depositor or the Master Servicer hereunder, without the
        execution or filing of any paper or further act on the part of any of the
        parties hereto, anything herein to the contrary notwithstanding.

       

      Section
        7.03 Indemnification
        of the Trustee and the Master Servicer. 

       

      (a) The
        Master Servicer agrees to indemnify the Indemnified Persons including LaSalle
        Bank National Association as Trustee and in its individual capacity only
        to the
        extent of its performance of its duties hereunder, and to hold them harmless
        against, any loss, liability or expense (including reasonable legal fees
        and
        disbursements of counsel) incurred on their part that may be sustained in
        connection with, arising out of, or relating to, any claim or legal action
        (including any pending or threatened claim or legal action) relating to this
        Agreement, including any powers of attorney delivered pursuant to this
        Agreement, the Custodial Agreement or the Certificates (i) related to the
        Master
        Servicer’s failure to perform its duties in compliance with this Agreement
        (except as any such loss, liability or expense shall be otherwise reimbursable
        pursuant to this Agreement) or (ii) incurred by reason of the Master Servicer’s
        willful misfeasance, bad faith or gross negligence in the performance of
        duties
        hereunder or by reason of reckless disregard of obligations and duties
        hereunder, provided, in each case, that with respect to any such claim or
        legal
        action (or pending or threatened claim or legal action), the Trustee shall
        have
        given the Master Servicer and the Seller written notice thereof promptly
        after
        the Trustee shall have with respect to such claim or legal action knowledge
        thereof; provided, however that the failure to give such notice shall not
        relieve the Master Servicer of its indemnification obligations hereunder.
        This
        indemnity shall survive the resignation or removal of the Trustee or Master
        Servicer and the termination of this Agreement.

       

      (b) The
        Seller will indemnify any Indemnified Person including LaSalle Bank National
        Association as Trustee and in its individual capacity only to the extent
        of its
        performance of its duties hereunder for any loss, liability or expense of
        any
        Indemnified Person not otherwise paid or covered pursuant to subsection (a)
        above.

       

      Section
        7.04 Limitations
        on Liability of the Depositor, the Master Servicer and Others. Subject to
        the obligation of the Master Servicer to indemnify the Indemnified Persons
        pursuant to Section 7.03:

       

      (a) Neither
        the Depositor, the Master Servicer nor any of the directors, officers, employees
        or agents of the Depositor and the Master Servicer shall be under any liability
        to the Indemnified Persons, the Trust Fund or the Certificateholders for
        taking
        any action or for refraining from taking any action in good faith pursuant
        to
        this Agreement, or for errors in judgment; provided, however, that this
        provision shall not protect the Depositor, the Master Servicer or any such
        Person against any breach of warranties or representations made herein or
        any
        liability which would otherwise be imposed by reason of such Person’s willful
        misfeasance, bad faith or gross negligence in the performance of duties or
        by
        reason of reckless disregard of obligations and duties hereunder.

       

      (b) The
        Depositor, the Master Servicer and any director, officer, employee or agent
        of
        the Depositor and the Master Servicer may rely in good faith on any document
        of
        any kind prima facie properly executed and submitted by any Person respecting
        any matters arising hereunder.

       

      (c) The
        Depositor, the Master Servicer, LaSalle Bank National Association as Trustee
        and
        in its individual capacity only to the extent of its performance of its duties
        hereunder, the Custodian and any director, officer, employee or agent of
        the
        Depositor, the Master Servicer, the Trustee, the Custodian shall be indemnified
        by the Trust and held harmless thereby against any loss, liability or expense
        (including reasonable legal fees and disbursements of counsel) incurred on
        their
        part that may be sustained in connection with, arising out of, or related
        to,
        any claim or legal action (including any pending or threatened claim or legal
        action) relating to this Agreement, the Custodial Agreement or the Certificates,
        other than (i) in the case of the Master Servicer, (x) any such loss, liability
        or expense related to the Master Servicer’s failure to perform its duties in
        compliance with this Agreement (except as any such loss, liability or expense
        shall be otherwise reimbursable pursuant to this Agreement) or (y) any such
        loss, liability or expense incurred by reason of the Master Servicer’s willful
        misfeasance, bad faith or gross negligence in the performance of duties
        hereunder, or by reason of reckless disregard of obligations and duties
        hereunder, (ii) in the case of the Trustee, any such loss, liability or expense
        incurred by reason of the Trustee’s willful misfeasance, bad faith or negligence
        in the performance of its duties hereunder, or by reason of its reckless
        disregard of obligations and duties hereunder and (iii) in the case of the
        Custodian, any such loss, liability or expense incurred by reason of the
        Custodian’s willful misfeasance, bad faith or negligence in the performance of
        its duties under the Custodial Agreement, or by reason of its reckless disregard
        of obligations and duties thereunder.

       

      (d) Neither
        the Depositor nor the Master Servicer shall be under any obligation to appear
        in, prosecute or defend any legal action that is not incidental to its duties
        under this Agreement and that in its opinion may involve it in any expense
        or
        liability; provided, however, the Master Servicer may in its discretion,
        with
        the consent of the Trustee (which consent shall not be unreasonably withheld),
        undertake any such action which it may deem necessary or desirable with respect
        to this Agreement and the rights and duties of the parties hereto and the
        interests of the Certificateholders hereunder. In such event, the legal expenses
        and costs of such action and any liability resulting therefrom (expect any
        loss,
        liability or expense incurred by reason of reckless disregard of obligations
        and
        duties hereunder) shall be expenses, costs and liabilities of the Trust Fund,
        and the Master Servicer shall be entitled to be reimbursed therefor out of
        the
        Protected Account as provided by Section 4.02. Nothing in this subsection
        7.04(d) shall affect the Master Servicer’s obligation to service and administer
        the Mortgage Loans pursuant to Article III.

       

      (e) In
        taking
        or recommending any course of action pursuant to this Agreement, unless
        specifically required to do so pursuant to this Agreement, the Master Servicer
        shall not be required to investigate or make recommendations concerning
        potential liabilities which the Trust might incur as a result of such course
        of
        action by reason of the condition of the Mortgaged Properties but shall give
        notice to the Trustee if it has notice of such potential
        liabilities.

       

      Section
        7.05 Master
        Servicer Not to Resign. Except as provided in Section 7.07, the Master
        Servicer shall not resign from the obligations and duties hereby imposed
        on it
        except (i) with the prior consent of the Trustee (which consents shall not
        be
        unreasonably withheld) or (ii) upon a determination that any such duties
        hereunder are no longer permissible under applicable law and such
        impermissibility cannot be cured. Any such determination permitting the
        resignation of the Master Servicer shall be evidenced by an Opinion of Counsel,
        addressed to and delivered to, the Trustee. No such resignation by the Master
        Servicer shall become effective until the Trustee or a successor to the Master
        Servicer reasonably satisfactory to the Trustee shall have assumed the
        responsibilities and obligations of the Master Servicer in accordance with
        Section 8.02 hereof. The Trustee shall notify the Rating Agencies of the
        resignation of the Master Servicer.

       

      Section
        7.06 Successor
        Master Servicer. In connection with the appointment of any successor Master
        Servicer or the assumption of the duties of the Master Servicer, the Trustee
        may
        make such arrangements for the compensation of such successor master servicer
        out of payments on the Mortgage Loans as the Trustee and such successor master
        servicer shall agree. If the successor master servicer does not agree that
        such
        market value is a fair price, such successor master servicer shall obtain
        two
        quotations of market value from third parties actively engaged in the servicing
        of single family mortgage loans. In no event shall the compensation of any
        successor master servicer exceed that permitted the Master Servicer hereunder
        without the consent of all of the Certificateholders.

       

      Section
        7.07 Sale
        and Assignment of Master Servicing. The Master Servicer may sell and assign
        its rights and delegate its duties and obligations in its entirety as Master
        Servicer under this Agreement; provided, however, that: (i) the purchaser
        or
        transferee accepting such assignment and delegation (a) shall be a Person
        which
        shall be qualified to service mortgage loans for Fannie Mae or Freddie Mac;
        (b)
        shall have a net worth of not less than $10,000,000 (unless otherwise approved
        by each Rating Agency pursuant to clause (ii) below); (c) shall be reasonably
        satisfactory to the Trustee (as evidenced in a writing signed by the Trustee);
        and (d) shall execute and deliver to the Trustee an agreement, in form and
        substance reasonably satisfactory to the Trustee, which contains an assumption
        by such Person of the due and punctual performance and observance of each
        covenant and condition to be performed or observed by it as master servicer
        under this Agreement, any custodial agreement from and after the effective
        date
        of such agreement; (ii) each Rating Agency shall be given prior written notice
        of the identity of the proposed successor to the Master Servicer and each
        Rating
        Agency’s rating of the Certificates in effect immediately prior to such
        assignment, sale and delegation will not be downgraded, qualified or withdrawn
        as a result of such assignment, sale and delegation, as evidenced by a letter
        to
        such effect delivered to the Master Servicer and the Trustee (at the expense
        of
        the Master Servicer); and (iii) the Master Servicer assigning and selling
        the
        master servicing shall deliver to the Trustee an Officer’s Certificate and an
        Opinion of Counsel addressed to the Trustee, each stating that all conditions
        precedent to such action under this Agreement have been completed and such
        action is permitted by and complies with the terms of this Agreement. No
        such
        assignment or delegation shall affect any liability of the Master Servicer
        arising prior to the effective date thereof.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        VIII

       

      DEFAULT;
        TERMINATION OF MASTER SERVICER

       

      Section
        8.01 Events
        of Default. 

       

      “Event
        of
        Default,” wherever used herein, means any one of the following
        events:

       

      (i) any
        failure by the Master Servicer to remit to the Trustee any amounts received
        or
        collected by the Master Servicer in respect of the Mortgage Loans and required
        to be remitted by it hereunder (other than any Advance), which failure shall
        continue unremedied for one Business Day after the date on which written
        notice
        of such failure shall have been given to the Master Servicer by the Trustee
        or
        the Depositor, or to the Trustee and the Master Servicer by the Holders of
        Certificates evidencing not less than 25% of the Voting Rights evidenced
        by the
        Certificates;

       

      (ii) any
        failure by the Master Servicer to observe or perform in any material respect
        any
        other of the covenants or agreements on the part of the Master Servicer
        contained in this Agreement or any breach of a representation or warranty
        by the
        Master Servicer, which failure or breach shall continue unremedied for a
        period
        of 60 days after the date on which written notice of such failure shall have
        been given to Master Servicer by the Trustee or the Depositor, or to the
        Trustee
        and the Master Servicer by the Holders of Certificates evidencing not less
        than
        25% of the Voting Rights evidenced by the Certificates;

       

      (iii) a
        decree
        or order of a court or agency or supervisory authority having jurisdiction
        in
        the premises for the appointment of a receiver or liquidator in any insolvency,
        readjustment of debt, marshalling of assets and liabilities or similar
        proceedings, or for the winding-up or liquidation of its affairs, shall have
        been entered against the Master Servicer and such decree or order shall have
        remained in force undischarged or unstayed for a period of 60 consecutive
        days;

       

      (iv) the
        Master Servicer shall consent to the appointment of a receiver or liquidator
        in
        any insolvency, readjustment of debt, marshalling of assets and liabilities
        or
        similar proceedings of or relating to the Master Servicer or all or
        substantially all of the property of the Master Servicer;

       

      (v) the
        Master Servicer shall admit in writing its inability to pay its debts generally
        as they become due, file a petition to take advantage of, or commence a
        voluntary case under, any applicable insolvency or reorganization statute,
        make
        an assignment for the benefit of its creditors, or voluntarily suspend payment
        of its obligations;

       

      (vi) the
        Master Servicer assigns or delegates its duties or rights under this Agreement
        in contravention of the provisions permitting such assignment or delegation
        under Sections 7.05 or 7.07; 

       

      (vii) failure
        by the Master Servicer to duly perform, within the required time period,
        its
        obligations under Sections 3.13, 3.14 or 3.16 set forth under such Sections;
        or

       

      (viii) The
        Master Servicer fails to deposit, or cause to be deposited, in the Distribution
        Account any Advance (other than a Nonrecoverable Advance) by 5:00 p.m. New
        York
        City time on the Distribution Account Deposit Date.

       

      If
        an
        Event of Default shall occur, then, and in each and every such case, so long
        as
        such Event of Default shall not have been remedied, the Trustee may, and
        at the
        direction of the Holders of Certificates evidencing not less than 25% of
        the
        Voting Rights evidenced by the Certificates, the Trustee shall in the case
        of
        any Event of Default described in clauses (i) through (vii) above, by notice
        in
        writing to the Master Servicer and the Swap Provider (with a copy to each
        Rating
        Agency), terminate all of the rights and obligations of the Master Servicer
        under this Agreement and in and to the Mortgage Loans and the proceeds thereof,
        other than its rights as a Certificateholder hereunder. On or after the receipt
        by the Master Servicer of such written notice, all authority and power of
        the
        Master Servicer hereunder, whether with respect to the Mortgage Loans or
        otherwise, shall pass to and be vested in the Trustee, or any successor
        appointed pursuant to Section 8.02 (a “Successor Master Servicer”). Such
        Successor Master Servicer shall thereupon if such Successor Master Servicer
        is a
        successor to the Master Servicer, make any Advance required by Article V,
        subject, in the case of the Trustee, to Section 8.02. The Trustee is hereby
        authorized and empowered to execute and deliver, on behalf of the terminated
        Master 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 or assignment of any Mortgage Loans
        and
        related documents, or otherwise. Unless expressly provided in such written
        notice, no such termination shall affect any obligation of the Master Servicer
        to pay amounts owed pursuant to Article VII or Article IX. The Master Servicer
        agrees to cooperate with the Trustee in effecting the termination of the
        Master
        Servicer’s responsibilities and rights hereunder, including, without limitation,
        the transfer to the applicable Successor Master Servicer of all cash amounts
        which shall at the time be credited to the Protected Account maintained pursuant
        to Section 4.02, or thereafter be received with respect to the applicable
        Mortgage Loans. The Trustee shall promptly notify the Rating Agencies of
        the
        occurrence of an Event of Default known to the Trustee.

       

      Notwithstanding
        any termination of the activities of the Master Servicer hereunder, the Master
        Servicer shall be entitled to receive, out of any late collection of a Scheduled
        Payment on a Mortgage Loan that was due prior to the notice terminating the
        Master Servicer’s rights and obligations as Master Servicer hereunder and
        received after such notice, that portion thereof to which the Master Servicer
        would have been entitled pursuant to Sections 4.02 and to receive any other
        amounts payable to the Master Servicer hereunder the entitlement to which
        arose
        prior to the termination of its activities hereunder.

       

      Notwithstanding
        the foregoing, if an Event of Default described in clause (vii) of this Section
        8.01 shall occur, the Trustee shall, by notice in writing to the Master
        Servicer, which may be delivered by telecopy, immediately terminate all of
        the
        rights and obligations of the Master Servicer thereafter arising under this
        Agreement, but without prejudice to any rights it may have as a
        Certificateholder or to reimbursement of Advances and other advances of its
        own
        funds, and the Trustee shall act as provided in Section 8.02 to carry out
        the
        duties of the Master Servicer, including the obligation to make any Advance
        the
        nonpayment of which was an Event of Default described in clause (vii) of
        this
        Section 8.01. Any such action taken by the Trustee must be prior to the
        distribution on the relevant Distribution Date.

       

      Section
        8.02 Trustee
        to Act; Appointment of Successor. 

       

      On
        and
        after the time the Master Servicer receives a notice of termination pursuant
        to
        Section 8.01 hereof the Trustee shall automatically become the successor
        to the
        Master Servicer with respect to the transactions set forth or provided for
        herein and after a transition period (not to exceed 90 days), shall be subject
        to all the responsibilities, duties and liabilities relating thereto placed
        on
        the Master Servicer by the terms and provisions hereof; provided, however
        that,
        pursuant to Article V hereof, the Trustee in its capacity as successor Master
        Servicer shall be responsible for making any Advances required to be made
        by the
        Master Servicer immediately upon the termination of the Master Servicer and
        any
        such Advance shall be made on the Distribution Date on which such Advance
        was
        required to be made by the predecessor Master Servicer. Effective on the
        date of
        such notice of termination, as compensation therefor, the Trustee shall be
        entitled to all compensation, reimbursement of expenses and indemnification
        that
        the Master Servicer would have been entitled to if it had continued to act
        hereunder, provided, however, that the Trustee shall not be (i) liable for
        any
        acts or omissions of the Master Servicer, (ii) obligated to make Advances
        if it
        is prohibited from doing so under applicable law, (iii) responsible for expenses
        of the Master Servicer pursuant to Section 2.03 or (iv) obligated to deposit
        losses on any Permitted Investment directed by the Master Servicer.
        Notwithstanding the foregoing, the Trustee may, if it shall be unwilling
        to so
        act, or shall, if it is prohibited by applicable law from making Advances
        pursuant to Article V or if it is otherwise unable to so act, appoint, or
        petition a court of competent jurisdiction to appoint, any established mortgage
        loan servicing institution the appointment of which does not adversely affect
        the then current rating of the Certificates by each Rating Agency as the
        successor to the Master Servicer hereunder in the assumption of all or any
        part
        of the responsibilities, duties or liabilities of the Master Servicer hereunder.
        Any Successor Master Servicer shall (i) be an institution that is a Fannie
        Mae
        and Freddie Mac approved seller/servicer in good standing, that has a net
        worth
        of at least $15,000,000, (ii) be acceptable to the Trustee (which consent
        shall
        not be unreasonably withheld) and (iii) be willing to act as successor servicer
        of any Mortgage Loans under this Agreement, and shall have executed and
        delivered to the Depositor and the Trustee an agreement accepting such
        delegation and assignment, that contains an assumption by such Person of
        the
        rights, powers, duties, responsibilities, obligations and liabilities of
        the
        Master Servicer (other than any liabilities of the Master Servicer hereof
        incurred prior to termination of the Master Servicer under Section 8.01 or
        as
        otherwise set forth herein), with like effect as if originally named as a
        party
        to this Agreement, provided that each Rating Agency shall have acknowledged
        in
        writing that its rating of the Certificates in effect immediately prior to
        such
        assignment and delegation will not be qualified or reduced as a result of
        such
        assignment and delegation. If the Trustee assumes the duties and
        responsibilities of the Master Servicer in accordance with this Section 8.02,
        the Trustee shall not resign as Master Servicer until a Successor Master
        Servicer has been appointed and has accepted such appointment. Pending
        appointment of a successor to the Master Servicer hereunder, the Trustee,
        unless
        the Trustee is prohibited by law from so acting, shall act in such capacity
        as
        hereinabove provided. In connection with such appointment and assumption,
        the
        Trustee may make such arrangements for the compensation of such successor
        out of
        payments on Mortgage Loans or otherwise as it and such successor shall agree;
        provided that no such compensation unless agreed to by the Certificateholders
        shall be in excess of that permitted the Master Servicer hereunder. The Trustee
        and such successor shall take such action, consistent with this Agreement,
        as
        shall be necessary to effectuate any such succession. Neither the Trustee
        nor
        any other Successor Master Servicer shall be deemed to be in default hereunder
        by reason of any failure to make, or any delay in making, any distribution
        hereunder or any portion thereof or any failure to perform, or any delay
        in
        performing, any duties or responsibilities hereunder, in either case caused
        by
        the failure of the Master Servicer to deliver or provide, or any delay in
        delivering or providing, any cash, information, documents or records to
        it.

       

      The
        costs
        and expenses of the Trustee in connection with the termination of the Master
        Servicer, appointment of a Successor Master Servicer and, if applicable,
        any
        transfer of servicing, including, without limitation, all costs and expenses
        associated with the complete transfer of all servicing data and the completion,
        correction or manipulation of such servicing data as may be required by the
        Trustee to correct any errors or insufficiencies in the servicing data or
        otherwise to enable the Trustee or the Successor Master Servicer to service
        the
        Mortgage Loans properly and effectively, to the extent not paid by the
        terminated Master Servicer, shall be payable to the Trustee pursuant to Section
        9.05. Any successor to the Master Servicer as successor servicer under any
        Subservicing Agreement shall give notice to the applicable Mortgagors of
        such
        change of servicer and shall, during the term of its service as successor
        servicer maintain in force the policy or policies that the Master Servicer
        is
        required to maintain pursuant to Section 3.08.

       

      Section
        8.03 Notification
        to Certificateholders. 

       

      (a) Upon
        any
        termination of or appointment of a successor to the Master Servicer, the
        Trustee
        shall give prompt written notice thereof to Certificateholders, the Swap
        Provider and to each Rating Agency.

       

      (b) Within
        60
        days after the occurrence of any Event of Default, the Trustee shall transmit
        by
        mail to all Certificateholders and the Swap Provider notice of each such
        Event
        of Default hereunder actually known to a Responsible Officer of the Trustee,
        unless such Event of Default shall have been cured or waived.

       

      Section
        8.04 Waiver
        of Defaults. 

       

      The
        Trustee shall transmit by mail to all Certificateholders and the Swap Provider,
        within 60 days after the occurrence of any Event of Default actually known
        to a
        Responsible Officer of the Trustee, unless such Event of Default shall have
        been
        cured, notice of each such Event of Default hereunder known to the Trustee.
        The
        Holders of Certificates evidencing not less than 51% of the Voting Rights
        may,
        on behalf of all Certificateholders, waive any default by the Master Servicer
        in
        the performance of its obligations hereunder and the consequences thereof,
        except a default in the making of or the causing to be made of any required
        distribution on the Certificates. Upon any such waiver of a past default,
        such
        default shall be deemed to cease to exist, and any Event of Default arising
        therefrom shall be deemed to have been timely remedied for every purpose
        of this
        Agreement. No such waiver shall extend to any subsequent or other default
        or
        impair any right consequent thereon except to the extent expressly so waived.
        The Trustee shall give notice of any such waiver to the Rating
        Agencies.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        IX

       

      CONCERNING
        THE TRUSTEE

       

      Section
        9.01 Duties
        of Trustee.

       

      (a) 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
        as duties of the Trustee. If an Event of Default has occurred and has not
        been
        cured or waived, the Trustee shall exercise such of the rights and powers
        vested
        in it by this Agreement, and the same degree of care and skill in their
        exercise, as a prudent person would exercise under the circumstances in the
        conduct of such Person’s own affairs.

       

      (b) Upon
        receipt of all resolutions, certificates, statements, opinions, reports,
        documents, orders or other instruments which are specifically required to
        be
        furnished to the Trustee pursuant to any provision of this Agreement, the
        Trustee shall examine them to determine whether they are in the form required
        by
        this Agreement; provided, however, that the Trustee shall not be responsible
        for
        the accuracy or content of any resolution, certificate, statement, opinion,
        report, document, order or other instrument furnished by the Master Servicer;
        provided, further, that the Trustee shall not be responsible for the accuracy
        or
        verification of any calculation provided to it pursuant to this
        Agreement.

       

      (c) On
        each
        Distribution Date, the Trustee shall make monthly distributions and the final
        distribution to the Certificateholders from funds in the Distribution Account
        as
        provided in Sections 5.04 and 10.01 herein.

       

      (d) 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 or waiver 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
        their
        respective 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;

       

      (ii) The
        Trustee shall not be liable in its individual capacity for an error of judgment
        made in good faith by a Responsible Officer or Responsible Officers of the
        Trustee unless it shall be proved that the Trustee was negligent in ascertaining
        the pertinent facts;

       

      (iii) The
        Trustee shall not be liable with respect to any action taken, suffered or
        omitted to be taken by it in good faith in accordance with the directions
        of the
        Holders of Certificates evidencing not less than 25% of the aggregate Voting
        Rights of the Certificates (or such other percentage as specifically set
        forth
        herein), if such action or non-action relates to the time, method and place
        of
        conducting any proceeding for any remedy available to the Trustee or exercising
        any trust or other power conferred upon the Trustee under this
        Agreement;

       

      (iv) The
        Trustee shall not be required to take notice or be deemed to have notice
        or
        knowledge of any default or Event of Default unless a Responsible Officer
        of the
        Trustee shall have actual knowledge thereof. In the absence of such knowledge,
        the Trustee may conclusively assume there is no such default or Event of
        Default;

       

      (v) The
        Trustee shall not in any way be liable by reason of any insufficiency in
        any
        Account held by or in the name of Trustee unless it is determined by a court
        of
        competent jurisdiction in a non-appealable judgment that the Trustee’s
        negligence or willful misconduct was the primary cause of such insufficiency
        (except to the extent that the Trustee is obligor and has defaulted
        thereon);

       

      (vi) Anything
        in this Agreement to the contrary notwithstanding, in no event shall the
        Trustee
        be liable for special, indirect or consequential loss or damage of any kind
        whatsoever (including but not limited to lost profits), even if the Trustee
        has
        been advised of the likelihood of such loss or damage and regardless of the
        form
        of action; and

       

      (vii) None
        of
        the Master Servicer, the Seller, the Depositor or the Trustee shall be
        responsible for the acts or omissions of the other, it being understood that
        this Agreement shall not be construed to render them partners, joint venturers
        or agents of one another.

       

      The
        Trustee shall not be required to expend or risk its own funds or otherwise
        incur
        financial 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 adequate indemnity against
        such
        risk or liability is not reasonably 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 Master Servicer.

       

      (e) All
        funds
        received by the Trustee and required to be deposited in the Distribution
        Account
        pursuant to this Agreement will be promptly so deposited by the
        Trustee.

       

      Section
        9.02 Certain
        Matters Affecting the Trustee.

       

      (a) Except
        as
        otherwise provided in Section 9.01:

       

      (i) The
        Trustee may rely and shall be protected in acting or refraining from acting
        in
        reliance on any resolution or certificate of the Seller or the Master Servicer,
        any certificates of auditors or any other certificate, statement, instrument,
        opinion, report, notice, request, consent, order, appraisal, bond or other
        paper
        or document believed by it to be genuine and to have been signed or presented
        by
        the proper party or parties;

       

      (ii) The
        Trustee may consult with counsel and any advice of such counsel or any Opinion
        of Counsel shall be full and complete authorization and protection with respect
        to 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 trusts or
        powers vested in it by this Agreement, other than its obligation to give
        notices
        pursuant to 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 pursuant to the provisions of this Agreement, unless such
        Certificateholders shall have offered to the Trustee reasonable security
        or
        indemnity against the costs, expenses and liabilities which may be incurred
        therein or thereby. Nothing contained herein shall, however, relieve the
        Trustee
        of the obligation, upon the occurrence of an Event of Default of which a
        Responsible Officer of the Trustee has actual knowledge (which has not been
        cured or waived), to exercise such of the rights and powers vested in it
        by this
        Agreement, and to use the same degree of care and skill in their exercise,
        as a
        prudent person would exercise under the circumstances in the conduct of his
        own
        affairs;

       

      (iv) The
        Trustee shall not be liable in its individual capacity 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) 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 document,
        unless requested in writing to do so by Holders of Certificates evidencing
        not
        less than 25% of the aggregate Voting Rights of the Certificates and provided
        that 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 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 expense or liability as a condition to
        taking
        any such action. The reasonable expense of every such examination shall be
        paid
        by the Certificateholders requesting the investigation;

       

      (vi) The
        Trustee may execute any of the trusts or powers hereunder or perform any
        duties
        hereunder either directly or through Affiliates, agents or attorneys; provided,
        however, that the Trustee may not appoint any paying agent to perform any
        paying
        agent functions under this Agreement without the express written consent
        of the
        Master Servicer, which consents will not be unreasonably withheld. The Trustee
        shall not be liable or responsible for the misconduct or negligence of any
        of
        the Trustee’s agents or attorneys or paying agent appointed hereunder by the
        Trustee with due care and, when required, with the consent of the Master
        Servicer;

       

      (vii) Should
        the Trustee deem the nature of any action required on its part to be unclear,
        the Trustee may require prior to such action that it be provided by the
        Depositor with reasonable further instructions; 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 accountable for other than
        its
        negligence or willful misconduct in the performance of any such
        act;

       

      (viii) The
        Trustee shall not be required to give any bond or surety with respect to
        the
        execution of the trust created hereby or the powers granted hereunder, except
        as
        provided in subsection 9.07; and

       

      (ix) The
        Trustee shall not have any duty to conduct any affirmative investigation
        as to
        the occurrence of any condition requiring the repurchase of any Mortgage
        Loan by
        any Person pursuant to this Agreement, or the eligibility of any Mortgage
        Loan
        for purposes of this Agreement.

       

      (b) The
        Trustee is hereby directed by the Depositor to execute and deliver the Swap
        Administration Agreement (and any amendments or supplements to the Swap
        Administration Agreement as may be requested by the Majority Class CE
        Certificateholder regarding the distributions to be made to it or its designees
        thereunder). Amounts payable by the Trustee on any Distribution Date to the
        Swap
        Administrator shall be paid by the Trustee as provided herein. The Trustee
        in
        its individual capacity shall have no responsibility for any of the
        undertakings, agreements or representations with respect to the Swap Agreement
        or the Swap Administration Agreement, including, without limitation, for
        making
        any payments thereunder.

       

      It
        is
        acknowledged and agreed that the Person serving as Trustee hereunder shall
        also
        serve as Swap Administrator under the Swap Administration Agreement and act
        as
        Supplemental Interest Trust Trustee under the Swap Agreement. The Trustee,
        the
        Swap Administrator and the Supplemental Interest Trust Trustee are hereby
        directed by the Depositor to execute and deliver the Swap Administration
        Agreement (and any amendments or supplements to the Swap Administration
        Agreement as may be requested by the Majority Class CE Certificateholder
        regarding the distributions to be made to it or its designees thereunder)
        and
        the Supplemental Interest Trust Trustee is hereby directed to execute and
        deliver the Swap Agreement, and to make the representations required therein.
        The Swap Administrator shall not have any liability for any failure or delay
        in
        payments to the Trust which are required under the Swap Administration Agreement
        where such failure or delay is due to the failure or delay of the Swap Provider
        in making such payment to the Swap Administrator. LaSalle Bank National
        Association in its individual capacity and as Swap Administrator, the Trustee
        and the Supplemental Interest Trust Trustee shall be entitled to be indemnified
        and held harmless by the Trust 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 each of the Swap Administrator, the Trustee
        and the
        Supplemental Interest Trust Trustee of its duties or obligations under the
        Swap
        Agreement or the Swap Administration Agreement, except to the extent that
        the
        same is due to the Swap Administrator’s, the Trustee’s or the Supplemental
        Interest Trust Trustee’s gross negligence, willful misconduct or fraud. Any
        Person appointed as successor trustee pursuant to Section 9.09 shall also
        be
        required to serve as successor Swap Administrator and successor supplemental
        interest trust trustee under the Swap Agreement and the Swap Administration
        Agreement.

       

      Section
        9.03 Trustee
        Not Liable for Certificates or Mortgage Loans. 

       

      The
        recitals contained herein and in the Certificates (other than the signature
        and
        countersignature of the Trustee on the Certificates) shall be taken as the
        statements of the Depositor, and the Trustee shall not have any responsibility
        for their correctness. The Trustee makes no representation as to the validity
        or
        sufficiency of the Certificates (other than the signature and countersignature
        of the Trustee on the Certificates) or of any Mortgage Loan except as expressly
        provided in Sections 2.02 and 2.06 hereof; provided, however, that the foregoing
        shall not relieve the Trustee, or the Custodian on its behalf, of the obligation
        to review the Mortgage Files pursuant to Section 2.02 of this Agreement.
        The
        Trustee’s signature and countersignature (or countersignature of its agent) on
        the Certificates shall be solely in its capacity as Trustee and shall not
        constitute the Certificates an obligation of the Trustee in any other capacity.
        The Trustee shall not be accountable for the use or application by the Depositor
        of any of the Certificates or of the proceeds of such Certificates, or for
        the
        use or application of any funds paid to the Depositor with respect to the
        Mortgage Loans. Subject to Section 2.06, the Trustee shall not be responsible
        for the legality or validity of this Agreement or any document or instrument
        relating to this Agreement, the validity of the execution of this Agreement
        or
        of any supplement hereto or instrument of further assurance, or the validity,
        priority, perfection or sufficiency of the security for the Certificates
        issued
        hereunder or intended to be issued hereunder. 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. The Trustee shall not be responsible
        for filing any financing or continuation statement in any public office at
        any
        time or to otherwise perfect or maintain the perfection of any security interest
        or lien granted to it hereunder or to record this Agreement.

       

      Section
        9.04 Trustee
        May Own Certificates. 

       

      The
        Trustee in its individual capacity or in any capacity other than as Trustee
        hereunder may become the owner or pledgee of any Certificates with the same
        rights it would have if it were not the Trustee and may otherwise deal with
        the
        parties hereto.

       

      Section
        9.05 Trustee’s
        Fees and Expenses. 

       

      The
        Trustee will be entitled to recover from the Distribution Account pursuant
        to
        Section 4.05, the Trustee Fee, all reasonable out of pocket expenses,
        disbursements and advances and the expenses of the Trustee in connection
        with
        any Event of Default (or anything related thereto, including any determination
        that an Event of Default does or does not exist), 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 administration of the trusts
        hereunder (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 the responsibility of
        the
        Certificateholders hereunder. If funds in the Distribution Account are
        insufficient therefor, the Trustee shall recover such expenses, disbursements
        or
        advances from the Depositor and the Depositor hereby agrees to pay such
        expenses, disbursements or advances. 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
        9.06 Eligibility
        Requirements for Trustee. 

       

      The
        Trustee and any successor Trustee shall during the entire duration of this
        Agreement be a state bank or trust company or a national banking association
        organized and doing business under the laws of a state or the United States
        of
        America, authorized under such laws to exercise corporate trust powers, having
        a
        combined capital and surplus and undivided profits of at least $50,000,000,
        subject to supervision or examination by federal or state authority and rated
        “BBB” or higher by Fitch with respect to their long-term rating and rated “BBB”
or higher by S&P and “Baa2” or higher by Moody’s with respect to any
        outstanding long-term unsecured unsubordinated debt, and, in the case of
        a
        successor Trustee other than pursuant to Section 9.10, rated in one of the
        two
        highest long-term debt categories by each Rating Agency (at least “AA-” in the
        case of S&P) or otherwise acceptable to, each of the Rating Agencies and
        have a short-term debt rating of at least “A-1” from S&P, or otherwise
        acceptable to, S&P. The Trustee shall not be an Affiliate of the Master
        Servicer. If the Trustee 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 9.06 the combined capital
        and
        surplus of such corporation shall be deemed to be its total equity capital
        (combined capital and surplus) as set forth in its most recent report of
        condition so published. In case at any time the Trustee shall cease to be
        eligible in accordance with the provisions of this Section 9.06, the Trustee
        shall resign immediately in the manner and with the effect specified in Section
        9.08.

       

      Section
        9.07 Insurance. 

       

      The
        Trustee, at its own expense, shall at all times maintain and keep in full
        force
        and effect: (i) fidelity insurance, (ii) theft of documents insurance and
        (iii)
        forgery insurance (which may be collectively satisfied by a “Financial
        Institution Bond” and/or a “Bankers’ Blanket Bond”); provided, that such
        insurance may be provided through self-insurance so long as the Trustee is
        rated
“A” or better by S&P and “A1” or better by Moody’s. All such insurance shall
        be in amounts, with standard coverage and subject to deductibles, as are
        customary for insurance typically maintained by banks or their affiliates
        which
        act as custodians for investor-owned mortgage pools. A certificate of an
        officer
        of the Trustee as to the Trustee’s compliance with this Section 9.07 shall be
        furnished to any Certificateholder upon reasonable written request.

       

      Section
        9.08 Resignation
        and Removal of Trustee. 

       

      The
        Trustee may at any time resign and be discharged from the Trust hereby created
        by giving written notice thereof to the Depositor, the Seller and the Master
        Servicer, with a copy to the Rating Agencies and the Swap Provider. Upon
        receiving such notice of resignation, the Depositor shall promptly appoint
        a
        successor trustee by written instrument, in triplicate, one copy of which
        instrument shall be delivered to each of the resigning Trustee and the successor
        trustee. If no successor trustee shall have been so appointed and have 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 (i) the Trustee shall cease to be eligible in accordance with the
        provisions of Section 9.06 hereof and shall fail to resign after written
        request
        thereto by the Depositor, (ii) the Trustee shall become incapable of acting,
        or
        shall be adjudged as 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, or (iii)(A) a tax is imposed
        with
        respect to the Trust Fund by any state in which the Trustee or the Trust
        Fund is
        located, (B) the imposition of such tax would be avoided by the appointment
        of a
        different trustee and (C) the Trustee fails to indemnify the Trust Fund against
        such tax, then the Depositor or the Master Servicer may remove the Trustee
        and
        appoint a successor trustee by written instrument, in multiple copies, a
        copy of
        which instrument shall be delivered to the Trustee, the Master Servicer and
        the
        successor trustee.

       

      The
        Holders evidencing at least 51% of the Voting Rights of each Class of
        Certificates may at any time remove the Trustee and appoint a successor trustee
        by written instrument or instruments, in multiple copies, signed by such
        Holders
        or their attorneys-in-fact duly authorized, one complete set of which
        instruments shall be delivered by the successor trustee to the Master Servicer,
        the Trustee so removed and the successor trustee so appointed. Notice of
        any
        removal of the Trustee shall be given to each Rating Agency by the Trustee
        or
        successor trustee.

       

      Any
        resignation or removal of LaSalle Bank National Association as Trustee shall
        also result in the resignation or removal, as applicable, of LaSalle Bank
        National Association as Swap Administrator. Any resignation or removal of
        the
        Trustee and appointment of a successor trustee pursuant to any of the provisions
        of this Section 9.08 shall become effective upon acceptance of appointment
        by
        the successor trustee as provided in Section 9.09 hereof and upon acceptance
        of
        appointment by a successor Swap administrator under the Swap Administration
        Agreement.

       

      Section
        9.09 Successor
        Trustee. 

       

      Any
        successor trustee appointed as provided in Section 9.08 hereof shall execute,
        acknowledge and deliver to the Depositor, to its predecessor trustee, the
        Master
        Servicer 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 the like effect as if originally named as trustee
        herein.

       

      No
        successor trustee shall accept appointment as provided in this Section 9.09
        unless at the time of such acceptance such successor trustee shall be eligible
        under the provisions of Section 9.07 hereof and its appointment shall not
        adversely affect the then current rating of the Certificates.

       

      Upon
        acceptance of appointment by a successor trustee as provided in this Section
        9.09, the successor trustee shall mail notice of the succession of such trustee
        hereunder to all Holders of Certificates. If the successor trustee fails
        to mail
        such notice within ten days after acceptance of appointment, the Depositor
        shall
        cause such notice to be mailed at the expense of the Trust Fund.

       

      Section
        9.10 Merger
        or Consolidation of Trustee. 

       

      Any
        corporation, state bank or national banking association into which the Trustee
        may be merged or converted or with which it may be consolidated or any
        corporation, state bank or national banking association resulting from any
        merger, conversion or consolidation to which the Trustee shall be a party,
        or
        any corporation, state bank or national banking association succeeding to
        substantially all of the corporate trust business of the Trustee, shall be
        the
        successor of the Trustee hereunder, provided that such corporation shall
        be
        eligible under the provisions of Section 9.06 hereof without the execution
        or
        filing of any paper or further act on the part of any of the parties hereto,
        anything herein to the contrary notwithstanding.

       

      Section
        9.11 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 property securing any Mortgage Note may at the time be located, the Master
        Servicer and the Trustee acting jointly shall have the power and shall execute
        and deliver all instruments to appoint one or more Persons approved by the
        Trustee 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, whichever
        is applicable, and, subject to the other provisions of this Section 9.11,
        such
        powers, duties, obligations, rights and trusts as the Master Servicer and
        the
        Trustee may consider necessary or desirable. If the Master Servicer shall
        not
        have joined in such appointment within 15 days after the receipt by it of
        a
        request to do so, or in the case an Event of Default shall have occurred
        and be
        continuing, the Trustee alone shall have the power to make such appointment.
        No
        co-trustee or separate trustee hereunder shall be required to meet the terms
        of
        eligibility as a successor trustee under Section 9.06 and no notice to
        Certificateholders of the appointment of any co-trustee or separate trustee
        shall be required under Section 9.09.

       

      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,
        except for the obligation of the Trustee under this Agreement to advance
        funds
        on behalf of the Master Servicer, 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 a Trustee hereunder or as a Successor Master
        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
        Trustee 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
        IX.
        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
        Master Servicer and the Depositor.

       

      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.

       

      Section
        9.12 Tax
        Matters. 

      

        It
          is
          intended that the Trust Fund shall constitute, and that the affairs of
          the Trust
          Fund shall be conducted so that each REMIC formed hereunder qualifies as,
          a
“real estate mortgage investment conduit” as defined in and in accordance with
          the REMIC Provisions. In furtherance of such intention, the Trustee covenants
          and agrees that it shall act as agent (and the Trustee is hereby appointed
          to
          act as agent) on behalf of the Trust Fund. The Trustee, as agent on behalf
          of
          the Trust Fund, shall do or refrain from doing, as applicable, the following:
          (a) the Trustee shall prepare and file, or cause to be prepared and filed,
          in a
          timely manner, U.S. Real Estate Mortgage Investment Conduit Income Tax
          Returns
          (Form 1066 or any successor form adopted by the Internal Revenue Service)
          and
          prepare and file or cause to be prepared and filed with the Internal Revenue
          Service and applicable state or local tax authorities income tax or information
          returns for each taxable year with respect to each such REMIC containing
          such
          information and at the times and in the manner as may be required by the
          Code or
          state or local tax laws, regulations, or rules, and furnish or cause to
          be
          furnished to Certificateholders the schedules, statements or information
          at such
          times and in such manner as may be required thereby; (b) the Trustee shall
          apply
          for an employer identification number with the Internal Revenue Service
          via a
          Form SS-4 or other comparable method for each REMIC that is or becomes
          a taxable
          entity, and within thirty days of the Closing Date, furnish or cause to
          be
          furnished to the Internal Revenue Service, on Forms 8811 or as otherwise
          may be
          required by the Code, the name, title, address, and telephone number of
          the
          Person that the Holders of the Certificates may contact for tax information
          relating thereto, together with such additional information as may be required
          by such Form, and update such information at the time or times in the manner
          required by the Code for the Trust Fund; (c) the Trustee shall make or
          cause to
          be made elections, on behalf of each REMIC formed hereunder to be treated
          as a
          REMIC on the federal tax return of such REMIC for its first taxable year
          (and,
          if necessary, under applicable state law); (d) the Trustee shall prepare
          and
          forward, or cause to be prepared and forwarded, to the Certificateholders
          and to
          the Internal Revenue Service and, if necessary, state tax authorities,
          all
          information returns and reports as and when required to be provided to
          them in
          accordance with the REMIC Provisions, including without limitation, the
          calculation of any original issue discount using the Prepayment Assumption;
          (e)
          the Trustee shall provide information necessary for the computation of
          tax
          imposed on the Transfer of a Residual Certificate to a Person that is not
          a
          Permitted Transferee, or an agent (including a broker, nominee or other
          middleman) of a Person that is not a Permitted Transferee, or a pass-through
          entity in which a Person that is not a Permitted Transferee is the record
          Holder
          of an interest (the reasonable cost of computing and furnishing such information
          may be charged to the Person liable for such tax); (f) the Trustee shall,
          to the
          extent under its control, conduct the affairs of the Trust Fund at all
          times
          that any Certificates are outstanding so as to maintain the status of each
          REMIC
          formed hereunder as a REMIC under the REMIC Provisions; (g) the Trustee shall
          not knowingly or intentionally take any action or omit to take any action
          that
          would cause the termination of the REMIC status of any REMIC formed hereunder;
          (h) the Trustee shall pay, from the sources specified in the penultimate
          paragraph of this Section 9.12, the amount of any federal, state and local
          taxes, including prohibited transaction taxes as described below, imposed
          on any
          REMIC formed hereunder prior to the termination of the Trust Fund when
          and as
          the same shall be due and payable (but such obligation shall not prevent
          the
          Trustee or any other appropriate Person from contesting any such tax in
          appropriate proceedings and shall not prevent the Trustee from withholding
          payment of such tax, if permitted by law, pending the outcome of such
          proceedings); (i) the Trustee shall sign or cause to be signed federal,
          state or
          local income tax or information returns or any other document prepared
          pursuant
          to this Section 9.12 requiring a signature thereon by the relevant tax
          authorities or other governmental entity; (j) the Trustee shall maintain
          records
          relating to each REMIC formed hereunder including but not limited to the
          income,
          expenses, assets and liabilities of each such REMIC and adjusted basis
          of the
          Trust Fund property determined at such intervals as may be required by
          the Code,
          as may be necessary to prepare the foregoing returns, schedules, statements
          or
          information; (k) the Trustee shall, for federal income tax purposes, maintain
          books and records with respect to the REMICs on a calendar year and on
          an
          accrual basis; (l) the Trustee shall not enter into any arrangement not
          otherwise provided for in this Agreement by which the REMICs will receive
          a fee
          or other compensation for services nor permit the REMICs to receive any
          income
          from assets other than “qualified mortgages” as defined in Section 860G(a)(3) of
          the Code or “permitted investments” as defined in Section 860G(a)(5) of the
          Code; and (m) as and when necessary and appropriate, the Trustee, at the
          expense
          of the Trust Fund, shall represent the Trust Fund in any administrative
          or
          judicial proceedings relating to an examination or audit by any governmental
          taxing authority, request an administrative adjustment as to any taxable
          year of
          any REMIC formed hereunder, enter into settlement agreements with any
          governmental taxing agency, extend any statute of limitations relating
          to any
          tax item of the Trust Fund, and otherwise act on behalf of each REMIC formed
          hereunder in relation to any tax matter involving any such
          REMIC.

      

       

      In
        order
        to enable the Trustee to perform its duties as set forth herein, the Depositor
        shall provide, or cause to be provided, to the Trustee within 10 days after
        the
        Closing Date all information or data that the Trustee requests in writing
        and
        determines to be relevant for tax purposes to the valuations and offering
        prices
        of the Certificates, including, without limitation, the price, yield, prepayment
        assumption and projected cash flows of the Certificates and the Mortgage
        Loans.
        Thereafter, the Depositor shall provide to the Trustee promptly upon written
        request therefor, any such additional information or data that the Trustee
        may,
        from time to time, request in order to enable the Trustee to perform its
        duties
        as set forth herein. The Depositor hereby indemnifies the Trustee for any
        losses, liabilities, damages, claims or expenses of the Trustee arising from
        any
        errors or miscalculations of the Trustee that result from any failure of
        the
        Depositor to provide, or to cause to be provided, accurate information or
        data
        to the Trustee on a timely basis.

       

      In
        the
        event that any tax is imposed on “prohibited transactions” of any of REMIC I,
        REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI as defined in Section
        860F(a)(2) of the Code, on the “net income from foreclosure property” of the
        Trust Fund as defined in Section 860G(c) of the Code, on any contribution
        to any
        of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI after the
        Startup
        Day pursuant to Section 860G(d) of the Code, or any other tax is imposed,
        including, without limitation, any federal, state or local tax or minimum
        tax
        imposed upon any of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC
        VI,
        and is not paid as otherwise provided for herein, such tax shall be paid
        by (i)
        the Master Servicer or Trustee, if any such tax arises out of or results
        from a
        breach by the Master Servicer or Trustee of any of its obligations under
        this
        Agreement, provided, however, in no event shall the Master Servicer have
        any
        liability (1) for any action or omission that is taken in accordance with
        and
        compliance with the express terms of, or which is expressly permitted by
        the
        terms of, this Agreement, (2) for any losses other than those arising out
        of a
        negligent performance by the Master Servicer of its duties and obligations
        set
        forth herein, or (3) for any special or consequential damages to
        Certificateholders (in addition to payment of principal and interest on the
        Certificates), (ii) any party hereto (other than the Master Servicer or Trustee)
        to the extent any such tax arises out of or results from a breach by such
        other
        party of any of its obligations under this Agreement or (iii) in all other
        cases, or in the event that any liable party hereto fails to honor its
        obligations under the preceding clauses (i) or (ii), any such tax will be
        paid
        first with amounts otherwise to be distributed to the Class R
        Certificateholders, and second with amounts otherwise to be distributed to
        all
        the Holders of the following Certificates in the following order of priority:
        first,
        to
        the
        Class M-11 Certificates, second, to the Class M-10 Certificates, third, to
        the
        Class M-9 Certificates, fourth, to the Class M-8 Certificates, fifth, to
        the
        Class M-7 Certificates, sixth, to the Class M-6 Certificates, seventh, to
        the
        Class M-5 Certificates, eighth, to the Class M-4 Certificates, ninth, to
        the
        Class M-3 Certificates, tenth, to the Class M-2 Certificates, eleventh, to
        the
        Class M-1 Certificates, and twelfth, to the Class A Certificates (pro
        rata
        based on
        the amounts to be distributed). Notwithstanding anything to the contrary
        contained herein, to the extent that such tax is payable by the Holder of
        any
        Certificates, the Trustee is hereby authorized to retain on any Distribution
        Date, from the Holders of the Class R Certificates (and, if necessary, second,
        from the Holders of the other Certificates in the priority specified in the
        preceding sentence), funds otherwise distributable to such Holders in an
        amount
        sufficient to pay such tax. The Trustee shall promptly notify in writing
        the
        party liable for any such tax of the amount thereof and the due date for
        the
        payment thereof.

       

      The
        Trustee and the Master Servicer agree that, in the event it should obtain
        any
        information necessary for the other party to perform its obligations pursuant
        to
        this Section 9.12, it will promptly notify and provide such information to
        such
        other party.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        X

       

      TERMINATION

       

      Section
        10.01 Termination
        upon Liquidation or Repurchase of all Mortgage Loans. 

       

      Subject
        to Section 10.03, the obligations and responsibilities of the Depositor,
        the
        Master Servicer, the Seller and the Trustee created hereby with respect to
        the
        Trust Fund shall terminate upon the earlier of (a) the exercise of the Majority
        Class CE Certificateholder (or its designee) or the Master Servicer, as
        applicable, of its right to repurchase all of the Mortgage Loans (and REO
        Properties) remaining in the Trust Fund at a price (the “Mortgage Loan Purchase
        Price”) equal to the sum of (i) 100% of the Stated Principal Balance of each
        Mortgage Loan (other than in respect of REO Property), (ii) accrued interest
        thereon at the applicable Mortgage Rate to, but not including, the first
        day of
        the month of such purchase, (iii) the appraised value of any REO Property
        in the
        Trust Fund (up to the Stated Principal Balance of the related Mortgage Loan),
        such appraisal to be conducted by an appraiser mutually agreed upon by the
        Master Servicer and the Trustee, (iv) unreimbursed out-of pocket costs of
        the
        Master Servicer, including unreimbursed servicing advances and the principal
        portion of any unreimbursed Advances, made on the Mortgage Loans prior to
        the
        exercise of such repurchase right, (v) any unreimbursed costs and expenses
        of
        the Trustee payable pursuant to Section 9.05, (vi) any Swap Termination Payment
        (which shall include any Net Swap Payment payable to the Swap Provider for
        the
        final Distribution Date) payable to the Swap Provider which remains unpaid
        or
        which is due to the exercise of such option (the “Swap Optional Termination
        Payment”) and (b) the later of (i) the maturity or other liquidation (or any
        Advance with respect thereto) of the last Mortgage Loan remaining in the
        Trust
        Fund and the disposition of all REO Property and (ii) the distribution to
        Certificateholders of all amounts required to be distributed to them pursuant
        to
        this Agreement, as applicable. In no event shall the trusts created hereby
        continue beyond the earlier of (i) 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, living on the date hereof
        and
        (ii) the Latest Possible Maturity Date.

       

      The
        right
        to repurchase all Mortgage Loans and REO Properties by the Majority Class
        CE
        Certificateholder pursuant to clause (a) in the preceding paragraph shall
        be
        conditioned upon the Stated Principal Balance of all of the Mortgage Loans
        in
        the Trust Fund, at the time of any such repurchase, aggregating 10% or less
        of
        the aggregate Cut-off Date Principal Balance of all of the Mortgage Loans.
        If
        the Majority Class CE Certificateholder does not exercise this option, the
        Master Servicer has the right to repurchase all Mortgage Loans and REO
        Properties pursuant to clause (a) in the preceding paragraph, conditioned
        upon
        the Stated Principal Balance of all of the Mortgage Loans in the Trust Fund,
        at
        the time of any such repurchase, aggregating 5% or less of the aggregate
        Cut-off
        Date Principal Balance of all of the Mortgage Loans.

       

      Only
        an
        amount equal to the Mortgage Loan Purchase Price less any Swap Optional
        Termination Payment (the “REMIC Termination Payment”) shall be made available
        for distribution to the Regular Certificates. Any Swap Optional Termination
        Payment paid as part of the Mortgage Loan Purchase Price and deposited to
        the
        Distribution Account shall be withdrawn by the Trustee from the Distribution
        Account and remitted to the Supplemental Interest Trust to be paid in accordance
        with Section 3.21(c). The Swap Optional Termination Payment shall not be
        part of
        any REMIC and shall not be paid into any account which is part of any
        REMIC.

       

      Section
        10.02 Final
        Distribution on the Certificates. 

       

      If
        on any
        Determination Date, (i) the Master Servicer determines that there are no
        Outstanding Mortgage Loans and no other funds or assets in the Trust Fund
        other
        than the funds in the Protected Account, the Master Servicer shall direct
        the
        Trustee to send a final distribution notice promptly to each Certificateholder
        or (ii) the Trustee determines that a Class of Certificates shall be retired
        after a final distribution on such Class, the Trustee shall notify the
        Certificateholders within five (5) Business Days after such Determination
        Date
        that the final distribution in retirement of such Class of Certificates is
        scheduled to be made on the immediately following Distribution Date. Any
        final
        distribution made pursuant to the immediately preceding sentence will be
        made
        only upon presentation and surrender of the related Certificates at the
        Corporate Trust Office of the Trustee. If the Majority Class CE
        Certificateholder or the Master Servicer, as applicable, elects to terminate
        the
        Trust Fund pursuant to Section 10.01, at least 20 days prior to the date
        notice
        is to be mailed to the Certificateholders, the Majority Class CE
        Certificateholder or the Master Servicer, as applicable, shall notify the
        Depositor, the Swap Provider and the Trustee of the date the Majority Class
        CE
        Certificateholder or the Master Servicer, as applicable, intends to terminate
        the Trust Fund. The Master Servicer shall remit the Mortgage Loan Purchase
        Price
        to the Trustee on the Business Day prior to the Distribution Date for such
        Optional Termination by the Majority Class CE Certificateholder or the Master
        Servicer, as applicable.

       

      Notice
        of
        any termination of the Trust Fund, specifying the Distribution Date on which
        Certificateholders may surrender their Certificates for payment of the final
        distribution and cancellation, shall be given promptly by the Trustee by
        letter
        to Certificateholders mailed not later than two Business Days after the
        Determination Date in the month of such final distribution. Any such notice
        shall specify (a) the Distribution Date upon which final distribution on
        the
        Certificates will be made upon presentation and surrender of Certificates
        at the
        office therein designated, (b) the amount of such final distribution, (c)
        the
        location of the office or agency at which such presentation and surrender
        must
        be made and (d) 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 therein specified. The Trustee
        will
        give such notice to each Rating Agency at the time such notice is given to
        Certificateholders.

       

      In
        the
        event such notice is given, the Master Servicer shall cause all funds in
        the
        Protected Account to be remitted to the Trustee for deposit in the Distribution
        Account on the Business Day prior to the applicable Distribution Date in
        an
        amount equal to the final distribution in respect of the Certificates. Upon
        such
        final deposit with respect to the Trust Fund and the receipt by the Trustee
        of a
        Request for Release therefor, the Trustee or the Custodian shall promptly
        release to the Seller as applicable the Mortgage Files for the Mortgage Loans
        and the Trustee shall execute and deliver any documents prepared and delivered
        to it which are necessary to transfer any REO Property.

       

      Upon
        presentation and surrender of the Certificates, the Trustee shall cause to
        be
        distributed to Certificateholders of each Class the amounts allocable to
        such
        Certificates held in the Distribution Account in the order and priority set
        forth in Section 5.04 hereof on the final Distribution Date and in proportion
        to
        their respective Percentage Interests.

       

      In
        the
        event that any affected Certificateholders shall not surrender Certificates
        for
        cancellation within six months after the date specified in the above mentioned
        written notice, 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 six months after the
        second notice all the applicable Certificates shall not have been surrendered
        for cancellation, the Trustee may take appropriate steps, or may appoint
        an
        agent to take appropriate steps, to contact the remaining Certificateholders
        concerning surrender of their Certificates, and the cost thereof shall be
        paid
        out of the funds and other assets that remain a part of the Trust Fund. If
        within one year after the second notice all Certificates shall not have been
        surrendered for cancellation, the Class R Certificateholders shall be entitled
        to all unclaimed funds and other assets of the Trust Fund that remain subject
        hereto.

       

      Section
        10.03 Additional
        Termination Requirements. 

       

      (a) Upon
        exercise by the Majority Class CE Certificateholder or the Master Servicer,
        as
        applicable, of its purchase option as provided in Section 10.01, the Trust
        Fund
        shall be terminated in accordance with the following additional requirements,
        unless the Trustee has been supplied with an Opinion of Counsel addressed
        to the
        Trustee, at the expense of the Majority Class CE Certificateholder or the
        Master
        Servicer, as applicable, to the effect that the failure of the Trust Fund
        to
        comply with the requirements of this Section 10.03 will not (i) result in
        the
        imposition of taxes on “prohibited transactions” of a REMIC, or (ii) cause a
        REMIC to fail to qualify as a REMIC at any time that any Certificates are
        outstanding:

       

      (1) The
        Majority Class CE Certificateholder or the Master Servicer, as applicable,
        shall
        establish a 90-day liquidation period and notify the Trustee thereof, and
        the
        Trustee shall in turn specify the first day of such period in a statement
        attached to the tax return for each of REMIC I, REMIC II, REMIC III, REMIC
        IV,
        REMIC V and REMIC VI pursuant to Treasury Regulation Section 1.860F-1. The
        Majority Class CE Certificateholder or the Master Servicer, as applicable,
        shall
        satisfy all the requirements of a qualified liquidation under Section 860F
        of
        the Code and any regulations thereunder, as evidenced by an Opinion of Counsel
        addressed to the Trustee obtained at the expense of the Majority Class CE
        Certificateholder or the Master Servicer, as applicable;

       

      (2) During
        such 90-day liquidation period, and at or prior to the time of making the
        final
        payment on the Certificates, the Trustee shall sell all of the assets of
        REMIC I
        for cash; and

       

      (3) At
        the
        time of the making of the final payment on the Certificates, the Trustee
        shall
        distribute or credit, or cause to be distributed or credited, to the Holders
        of
        the Residual Certificates all cash on hand (other than cash retained to meet
        claims), and REMIC I shall terminate at that time.

       

      (b) By
        their
        acceptance of the Certificates, the Holders thereof hereby authorize the
        adoption of a 90-day liquidation period and the adoption of a plan of complete
        liquidation for REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V and REMIC
        VI,
        which authorization shall be binding upon all successor
        Certificateholders.

       

      (c) The
        Trustee as agent for each REMIC hereby agrees to adopt and sign such a plan
        of
        complete liquidation meeting the requirements for a qualified liquidation
        under
        Section 860F of the Code and any regulations thereunder upon the written
        request
        of the Majority Class CE Certificateholder or the Master Servicer, as
        applicable, and the receipt of the Opinion of Counsel referred to in Section
        10.03(a)(1) and to take such other action in connection therewith as may
        be
        reasonably requested by the Majority Class CE Certificateholder or the Master
        Servicer, as applicable.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ARTICLE
        XI

       

      MISCELLANEOUS
        PROVISIONS

       

      Section
        11.01 Amendment. 

       

      This
        Agreement may be amended from time to time by parties hereto without the
        consent
        of any of the Certificateholders to cure any ambiguity, to correct or supplement
        any provisions herein (including to give effect to the expectations of
        investors), to
        comply
        with any changes in the Code, to revise any provisions to reflect the
        obligations of the parties to this agreement as they relate to Regulation
        AB,
to change the manner in which the Protected Account is maintained
        or to
        make such other provisions with respect to matters or questions arising under
        this Agreement as shall not be inconsistent with any other provisions herein
        if
        such action shall not, as evidenced by an Opinion of Counsel addressed to
        the
        Trustee, adversely affect in any material respect the interests of any
        Certificateholder; provided that any such amendment shall be deemed not to
        adversely affect in any material respect the interests of the Certificateholders
        and no such Opinion of Counsel shall be required if the Person requesting
        such
        amendment obtains a letter from each Rating Agency stating that such amendment
        would not result in the downgrading or withdrawal of the respective ratings
        then
        assigned to the Certificates.

       

      Notwithstanding
        the foregoing, without the consent of the Certificateholders, the parties
        hereto
        may at any time and from time to time amend this Agreement to modify, eliminate
        or add to any of its provisions to such extent as shall be necessary or
        appropriate to maintain the qualification of any of REMIC I, REMIC II, REMIC
        III, REMIC IV, REMIC V or REMIC VI as a REMIC under the Code or to avoid
        or
        minimize the risk of the imposition of any tax on any of REMIC I, REMIC II,
        REMIC III, REMIC IV, REMIC V or REMIC VI pursuant to the Code that would
        be a
        claim against any of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC
        VI
        at any time prior to the final redemption of the Certificates, provided that
        the
        Trustee has been provided an Opinion of Counsel addressed to the Trustee,
        which
        opinion shall be an expense of the party requesting such opinion but in any
        case
        shall not be an expense of the Trustee or the Trust Fund, to the effect that
        such action is necessary or appropriate to maintain such qualification or
        to
        avoid or minimize the risk of the imposition of such a tax.

       

      This
        Agreement may also be amended from time to time by the parties hereto with
        the
        consent of the Holders of each Class of Certificates affected thereby evidencing
        over 50% of the Voting Rights of such Class or Classes 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; provided that no such amendment shall (i) reduce in any manner
        the
        amount of, or delay the timing of, payments required to be distributed on
        any
        Certificate without the consent of the Holder of such Certificate, (ii) cause
        any of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V or REMIC VI to cease
        to
        qualify as a REMIC or (iii) reduce the aforesaid percentages of Certificates
        of
        each Class the Holders of which are required to consent to any such amendment
        without the consent of the Holders of all Certificates of such Class then
        outstanding.

       

      Notwithstanding
        any contrary provision of this Agreement, the Trustee shall not consent to
        any
        amendment to this Agreement unless it shall have first received an Opinion
        of
        Counsel addressed to the Trustee, which opinion shall be an expense of the
        party
        requesting such amendment but in any case shall not be an expense of the
        Trustee, to the effect that such amendment will not (other than an amendment
        pursuant to clause (ii) of, and in accordance with, the preceding paragraph)
        cause the imposition of any tax on any of REMIC I, REMIC II, REMIC III, REMIC
        IV, REMIC V or REMIC VI or the Certificateholders or cause any of REMIC I,
        REMIC
        II, REMIC III, REMIC IV, REMIC V or REMIC VI to cease to qualify as a REMIC
        at
        any time that any Certificates are outstanding. Further, nothing in this
        Agreement shall require the Trustee to enter into an amendment without receiving
        an Opinion of Counsel, satisfactory to the Trustee that (i) such amendment
        is
        permitted and is not prohibited by this Agreement and that all requirements
        for
        amending this Agreement (including any consent of the applicable
        Certificateholders) have been complied with.

       

      Notwithstanding
        any of the other provisions of this Section 11.01, none of the Depositor,
        the
        Master Servicer or the Trustee shall enter into any amendment to Section
        3.21 or
        Section 5.04(a)(4)(F) of this Agreement without the prior written consent
        of the
        Swap Provider, which consent shall not be unreasonably withheld, and shall
        not
        enter into an amendment that has a materially adverse effect on the Swap
        Provider without the Swap Provider’s consent, which consent shall not be
        unreasonably withheld.

       

      Promptly
        after the execution of any amendment to this Agreement requiring the consent
        of
        Certificateholders, the Trustee shall furnish written notification of the
        substance of such amendment to each Certificateholder, the Swap Provider
        and
        each Rating Agency.

       

      It
        shall
        not be necessary for the consent of Certificateholders under this Section
        to
        approve the particular form of any proposed amendment, but 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.

       

      Section
        11.02 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 of 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. The Master Servicer shall effect such recordation at the Trust’s
        expense upon the request in writing of a Certificateholder, but only if such
        direction is accompanied by an Opinion of Counsel (provided at the expense
        of
        the Certificateholder requesting recordation) to the effect that such
        recordation would materially and beneficially affect the interests of the
        Certificateholders or is required by law.

       

      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 constitute but one and the same
        instrument.

       

      Section
        11.03 Governing
        Law. 

       

      THIS
        AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE
        LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
        IN THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
        PARTIES
        HERETO AND THE CERTIFICATEHOLDERS SHALL BE DETERMINED IN ACCORDANCE WITH
        SUCH
        LAWS WITHOUT REGARD TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF (OTHER THAN
        SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAWS).

       

      Section
        11.04 Intention
        of Parties. 

       

      It
        is the
        express intent of the parties hereto that the conveyance of the Mortgage
        Notes,
        Mortgages, assignments of Mortgages, title insurance policies and any
        modifications, extensions and/or assumption agreements and private mortgage
        insurance policies relating to the Mortgage Loans by the Sellers to the
        Depositor, and by the Depositor to the Trustee be, and be construed as, an
        absolute sale thereof to the Depositor or the Trustee, as applicable. It
        is,
        further, not the intention of the parties that such conveyance be deemed
        a
        pledge thereof by the Seller to the Depositor, or by the Depositor to the
        Trustee. However, in the event that, notwithstanding the intent of the parties,
        such assets are held to be the property of the Sellers or the Depositor,
        as
        applicable, or if for any other reason the Mortgage Loan Purchase Agreement
        or
        this Agreement is held or deemed to create a security interest in such assets,
        then (i) the Mortgage Loan Purchase Agreement and this Agreement shall each
        be
        deemed to be a security agreement within the meaning of the Uniform Commercial
        Code of the State of New York and (ii) the conveyance provided for in the
        Mortgage Loan Purchase Agreement from the Sellers to the Depositor, and the
        conveyance provided for in this Agreement from the Depositor to the Trustee,
        shall be deemed to be an assignment and a grant by the Sellers or the Depositor,
        as applicable, for the benefit of the Certificateholders of a security interest
        in all of the assets that constitute the Trust Fund, whether now owned or
        hereafter acquired.

       

      The
        Depositor for the benefit of the Certificateholders shall, to the extent
        consistent with this Agreement, take such actions as may be necessary to
        ensure
        that, if this Agreement were deemed to create a security interest in the
        assets
        of the Trust Fund, such security interest would be deemed to be a perfected
        security interest of first priority under applicable law and will be maintained
        as such throughout the term of the Agreement.

       

      Section
        11.05 Notices. 

       

      (a) The
        Trustee shall use its best efforts to promptly provide notice to each Rating
        Agency with respect to each of the following of which a Responsible Officer
        of
        the Trustee has actual knowledge:

       

      (i) Any
        material change or amendment to this Agreement;

       

      (ii) The
        occurrence of any Event of Default that has not been cured;

       

      (iii) The
        resignation or termination of the Master Servicer or the Trustee and the
        appointment of any successor;

       

      (iv) The
        repurchase or substitution of Mortgage Loans pursuant to Sections 2.02, 2.03,
        3.19 and 10.01; and

       

      (v) The
        final
        payment to Certificateholders.

       

      (b) All
        directions, demands and notices hereunder shall be in writing and shall be
        deemed to have been duly given when delivered at or mailed by registered
        mail,
        return receipt requested, postage prepaid, or by recognized overnight courier,
        or by facsimile transmission to a number provided by the appropriate party
        if
        receipt of such transmission is confirmed to (i) in the case of the Depositor,
        Bear Stearns Asset Backed Securities I LLC, 383 Madison Avenue, New York,
        New
        York 10179, Attention: Chief Counsel, and with respect to Regulation AB
        notifications to the Depositor at regabnotifications@bear.com; (ii) in the
        case
        of the Seller or the Master Servicer, EMC Mortgage Corporation, 2780 Lake
        Vista
        Drive, Lewisville, Texas 75067 (Facsimile: (972) 444-2880), attention: President
        or General Counsel, or such other address as may be hereafter furnished to
        the
        other parties hereto by the Master Servicer in writing; (iii) in the case
        of the
        Trustee, at each Corporate Trust Office or such other address as the Trustee
        may
        hereafter furnish to the other parties hereto, (iv) in the case of the Swap
        Provider, Wachovia Bank, N.A., 301 South College Street, DC-8, Charlotte,
        NC
        28202-0600, Attention: Bruce M. Young and (v) in the case of the Rating
        Agencies, (x) Moody’s Investors Service, Inc., 99 Church Street, New York, New
        York 10007, Attention: Home Equity Monitoring and (y) Standard & Poor’s, 55
        Water Street, 41st Floor, New York, New York 10041, the Master Servicer or
        the
        Trustee under this Agreement shall be effective only upon receipt. Any notice
        required or permitted to be mailed to a Certificateholder, unless otherwise
        provided herein, shall be given by first-class mail, postage prepaid, at
        the
        address of such Certificateholder as shown in the Certificate Register; any
        notice so mailed within the time prescribed in this Agreement shall be
        conclusively presumed to have been duly given, whether or not the
        Certificateholder receives such notice.

       

      Section
        11.06 Severability
        of Provisions. 

       

      If
        any
        one or more of the covenants, agreements, provisions or terms of this Agreement
        shall be for any reason whatsoever 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
        11.07 Assignment. 

       

      Notwithstanding
        anything to the contrary contained herein, except as provided pursuant to
        Section 7.02, this Agreement may not be assigned by the Master Servicer,
        EMC (on
        its own behalf as Seller and on behalf of Master Funding) or the
        Depositor.

       

      Section
        11.08 Limitation
        on Rights of Certificateholders. 

       

      The
        death
        or incapacity of any Certificateholder shall not operate to terminate this
        Agreement or the Trust Fund, nor entitle such Certificateholder’s legal
        representative or heirs to claim an accounting or to take any action or commence
        any proceeding in any court for a petition or winding up of the Trust Fund,
        or
        otherwise affect the rights, obligations and liabilities of the parties hereto
        or any of them.

       

      No
        Certificateholder shall have any right to vote (except as provided herein)
        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 party
        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 or by availing itself of
        any
        provisions 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 an
        Event
        of Default and of the continuance thereof, as hereinbefore provided, the
        Holders
        of Certificates evidencing not less than 25% of the Voting Rights evidenced
        by
        the Certificates shall also have made written request to 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 60 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; it being understood and intended, and being
        expressly covenanted by each Certificateholder with every other
        Certificateholder and the Trustee, that no one or more Holders of Certificates
        shall have any right in any manner whatever by virtue or by availing itself
        or
        themselves of any provisions of this Agreement to affect, disturb or prejudice
        the rights of the Holders of any other of the Certificates, or to obtain
        or seek
        to obtain priority over or preference to any other such Holder or to enforce
        any
        right under this Agreement, except in the manner herein provided and for
        the
        common benefit of all Certificateholders. For the protection and enforcement
        of
        the provisions of this Section 11.08, each and every Certificateholder or
        the
        Trustee shall be entitled to such relief as can be given either at law or
        in
        equity.

       

      Section
        11.09 Inspection
        and Audit Rights. 

       

      The
        Master Servicer agrees that, on reasonable prior notice, it will permit any
        representative of the Depositor or the Trustee during the Master Servicer’s
        normal business hours, to examine all the books of account, records, reports
        and
        other papers of the Master Servicer relating to the Mortgage Loans, to make
        copies and extracts therefrom, to cause such books to be audited by independent
        certified public accountants selected by the Depositor and the Trustee and
        to
        discuss its affairs, finances and accounts relating to such Mortgage Loans
        with
        its officers, employees and independent public accountants (and by this
        provision the Master Servicer hereby authorizes such accountants to discuss
        with
        such representative such affairs, finances and accounts), all at such reasonable
        times and as often as may be reasonably requested. Any out-of-pocket expense
        incident to the exercise by the Depositor or the Trustee of any right under
        this
        Section 11.09 shall be borne by the party requesting such inspection, subject
        to
        such party’s right to reimbursement hereunder (in the case of the Trustee,
        pursuant to Section 9.05 hereof.

       

      Section
        11.10 Certificates
        Nonassessable and Fully Paid. 

       

      It
        is the
        intention of the Depositor that Certificateholders shall not be personally
        liable for obligations of the Trust Fund, that the interests in the Trust
        Fund
        represented by the Certificates shall be nonassessable for any reason
        whatsoever, and that the Certificates, upon due authentication thereof by
        the
        Trustee pursuant to this Agreement, are and shall be deemed fully
        paid.

       

      Section
        11.11 Third
        Party Rights. 

       

      The
        Swap
        Provider and the Swap Administrator shall be third-party beneficiaries of
        this
        Agreement to the same extent as if they were parties hereto, and shall have
        the
        right to enforce the provisions of this Agreement.

       

      *
        *
        *

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

      IN
        WITNESS WHEREOF, the Depositor, the Master Servicer, the Seller and the Trustee
        have caused their names to be signed hereto by their respective officers
        thereunto duly authorized as of the day and year first above
        written.

       

       

      

        
          	
                   

                	
                  BEAR
                    STEARNS ASSET BACKED

                  SECURITIES
                    I LLC,

                
	
                   

                	
                  as
                    Depositor

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                
	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                
	
                   

                	
                  By:

                	
                  /s/
                    Baron Silverstein

                
	
                   

                	
                  Name:

                	
                  Baron
                    Silverstein

                
	
                   

                	
                   

                	
                  Vice
                    President

                

        

      

       

      

        
          	
                   

                	
                  
                    EMC
                      MORTGAGE CORPORATION,

                  

                
	
                   

                	
                  as
                    Seller and as Master Servicer

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                
	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                	
                   

                
	
                   

                	
                  By:

                	
                  /s/
                    Jenna Kemp

                
	
                   

                	
                  Name:

                	
                  Jenna
                    Kemp

                
	 	
                  Title:

                	Senior
                  Vice President

        

      

       

      
        

          
            	
                     

                  	
                    
                      
                        LASALLE
                          BANK NATIONAL ASSOCIATION,

                      

                    

                  
	
                     

                  	
                    
                      as
                        Trustee

                    

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  
	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  	
                     

                  
	
                     

                  	
                    By:

                  	
                    /s/
                      Rita Lopez

                  
	
                     

                  	
                    Name:

                  	
                    Rita
                      Lopez

                  
	 	
                    Title:

                  	Vice
                    President

          

        

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

        
          	
                  STATE
                    OF NEW YORK

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF NEW YORK

                	
                  )

                	 

        

       

      On
        this
        30th
        day of
        May, 2006, before me, a notary public in and for said State, appeared Baron
        Silverstein, personally known to me on the basis of satisfactory evidence
        to be
        an authorized representative of Bear Stearns Asset Backed Securities I LLC,
        one
        of the companies that executed the within instrument, and also known to me
        to be
        the person who executed it on behalf of such limited liability company and
        acknowledged to me that such limited liability company 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/
                    Jeanne Haney  

                
	 	
                  Notary
                    Public

                

        

      

       

       

      [Notarial
        Seal]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

        
          	
                  STATE
                    OF TEXAS

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF DALLAS

                	
                  )

                	 

        

      On
        this
        30th
        day of
        May, 2006, before me, a notary public in and for said State, appeared Jenna
        Kemp, personally known to me on the basis of satisfactory evidence to be
        an
        authorized representative of EMC Mortgage Corporation, one of the corporations
        that executed the within instrument, and also known to me to be the person
        who
        executed it on behalf of such 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/
                      Alfie D. Kearney

                  
	 	
                    Notary
                      Public

                  

          

           

           

        

      

      [Notarial
        Seal]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

        
          	
                  STATE
                    OF ILLINOIS

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF COOK

                	
                  )

                	 

        

      On
        this
        30th
        day of
        May, 2006, before me, A C Hellyer, a notary public in and for said State,
        appeared Rita C. Lopez, personally known to me on the basis of satisfactory
        evidence to be an authorized representative of LaSalle Bank National Association
        that executed the within instrument, and also known to me to be the person
        who
        executed it on behalf of such 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/
                    A C Hellyer 

                
	 	
                  Notary
                    Public

                

        

         

         

      

      [Notarial
        Seal]

       

      
 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      EXHIBIT
        A-1

       

      Form
        of
        Class A Certificates

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

       

      THE
        CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DECREASED BY THE
        PRINCIPAL PAYMENTS HEREON AND REALIZED LOSSES ALLOCABLE HERETO. ACCORDINGLY,
        FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES, THE CERTIFICATE PRINCIPAL
        BALANCE OF THIS CERTIFICATE WILL BE DIFFERENT FROM THE DENOMINATION SHOWN
        BELOW.
        ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CERTIFICATE PRINCIPAL
        BALANCE BY INQUIRY OF THE TRUSTEE NAMED HEREIN.

       

      UNLESS
        THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF TRANSFER,
        EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
        OF
        CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY
        TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
        PERSON
        IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
        HEREIN.

       

      EACH
        HOLDER OF A CERTIFICATE OR BENEFICIAL OWNERSHIP SHALL BE DEEMED TO HAVE MADE
        THE
        REPRESENTATIONS SET FORTH IN SECTION 6.02(h)
        OF THE POOLING AND SERVICING AGREEMENT.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      
        	
                Certificate
                  No. 1

              	
                Adjustable
                  Rate

              
	 	 
	
                Class
                  [I-A-1][I-A-2][I-A-3][II-A] Senior

              	 
	 	 
	
                Date
                  of Pooling and Servicing Agreement

                and
                  Cut-off Date: May 1, 2006

              	
                Aggregate
                  Initial Certificate Principal Balance of this Certificate as of
                  the
                  Cut-off Date:

                $[__________]

              
	 	 
	
                First
                  Distribution Date:

                June
                  26, 2006

              	
                Initial
                  Certificate Principal Balance of this Certificate as of the Cut-off
                  Date:

                $[__________]

              
	 	 
	
                Master
                  Servicer:

                EMC
                  Mortgage Corporation

              	
                CUSIP:
                  [_____]

              
	 	 
	
                Last
                  Scheduled Distribution Date:

                [__________,
                  __]

              	 

      

      

      ASSET-BACKED
        CERTIFICATE

       

      SERIES
        2006-HE5

       

      evidencing
        a fractional undivided interest in the distributions allocable to the Class
        [I-A-1][I-A-2][I-A-3][II-A] Certificates with respect to a Trust Fund consisting
        primarily of a pool of conventional, closed-end, first and second lien, one-
        to
        four-family fixed and adjustable interest rate mortgage loans sold by BEAR
        STEARNS ASSET BACKED SECURITIES I LLC.

       

      This
        Certificate is payable solely from the assets of the Trust Fund, and does
        not
        represent an obligation of or interest in Bear Stearns Asset Backed Securities
        I
        LLC, the Master Servicer or the Trustee referred to below or any of their
        affiliates or any other person. Neither this Certificate nor the underlying
        Mortgage Loans are guaranteed or insured by any governmental entity or by
        Bear
        Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee
        or any
        of their affiliates or any other person. None of Bear Stearns Asset Backed
        Securities I LLC, the Master Servicer or any of their affiliates will have
        any
        obligation with respect to any certificate or other obligation secured by
        or
        payable from payments on the Certificates.

       

      This
        certifies that Cede & Co. is the registered owner of the Percentage Interest
        evidenced hereby in the beneficial ownership interest of Certificates of
        the
        same Class as this Certificate in a trust (the “Trust Fund”) generally
        consisting of conventional, closed-end first and second lien, fixed and
        adjustable rate mortgage loans secured by one- to four- family residences
        (collectively, the “Mortgage Loans”) sold by Bear Stearns Asset Backed
        Securities I LLC (“BSABS I”). The Mortgage Loans were sold by EMC Mortgage
        Corporation (“EMC”) and Master Funding LLC to BSABS I. EMC will act as master
        servicer of the Mortgage Loans (in that capacity, the “Master Servicer,” which
        term includes any successors thereto under the Agreement referred to below).
        The
        Trust Fund was created pursuant to the Pooling and Servicing Agreement, dated
        as
        of the Cut-off Date specified above (the “Agreement”), among BSABS I, as
        depositor (the “Depositor”), EMC Mortgage Corporation as seller and as Master
        Servicer and LaSalle Bank National Association, as trustee (the “Trustee”), a
        summary of certain of the pertinent provisions of which is set forth hereafter.
        To the extent not defined herein, capitalized terms used herein shall have
        the
        meaning ascribed 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 its acceptance hereof
        assents and by which such Holder is bound.

       

      Interest
        on this Certificate will accrue from and including the immediately preceding
        Distribution Date (or with respect to the First Distribution Date, the Closing
        Date) to and including the day prior to the current Distribution Date on
        the
        Certificate Principal Balance hereof at a per annum rate equal to the
        Pass-Through Rate set forth above. The Trustee will distribute on the 25th
        day
        of each month, or, if such 25th day is not a Business Day, the immediately
        following Business Day (each, a “Distribution Date”), commencing on the First
        Distribution Date specified above, to the Person in whose name this Certificate
        is registered at the close of business on the Business Day immediately preceding
        such Distribution Date so long as such Certificate remains in book-entry
        form
        (and otherwise, the close of business on the last Business Day of the month
        immediately preceding the month of such Distribution Date), an amount equal
        to
        the product of the Percentage Interest evidenced by this Certificate and
        the
        amount (of interest and principal, if any) required to be distributed to
        the
        Holders of Certificates of the same Class as this Certificate. The Assumed
        Final
        Distribution Date is the Distribution Date in the month following the latest
        scheduled maturity date of any Mortgage Loan.

       

      Each
        holder of a Certificate or beneficial ownership shall be deemed to have made
        the
        representations set forth in Section 6.02(h) of the Pooling and Servicing
        Agreement.

       

      Distributions
        on this Certificate will be made by the Trustee by check mailed to the address
        of the Person entitled thereto as such name and address shall appear on the
        Certificate Register or, if such Person so requests by notifying the Trustee
        in
        writing as specified in the Agreement. Notwithstanding the above, the final
        distribution on this Certificate will be made after due notice by the Trustee
        of
        the pendency of such distribution and only upon presentation and surrender
        of
        this Certificate at the office or agency appointed by the Trustee for that
        purpose and designated in such notice. The initial Certificate Principal
        Balance
        of this Certificate is set forth above. The Certificate Principal Balance
        hereof
        will be reduced to the extent of distributions allocable to principal hereon
        and
        any Realized Losses allocable hereto.

       

      This
        Certificate is one of a duly authorized issue of Certificates designated
        as set
        forth on the face hereof (the “Certificates”). The Certificates, in the
        aggregate, evidence the entire beneficial ownership interest in the Trust
        Fund
        formed pursuant to the Agreement.

       

      The
        Certificateholder, by its acceptance of this Certificate, agrees that it
        will
        look solely to the Trust Fund and the Policy for payment hereunder and that
        the
        Trustee is not liable to the Certificateholders 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 hereby, and the rights, duties and immunities
        of the Trustee.

       

      The
        Agreement permits, with certain exceptions therein provided, the amendment
        thereof and the modification of the rights and obligations of the Depositor
        and
        the rights of the Certificateholders under the Agreement from time to time
        by
        the parties thereto with the consent of the Holders of the Class or Classes
        of
        Certificates affected thereby evidencing over 50% of the Voting Rights of
        such
        Class or Classes. 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
        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.

       

      As
        provided in the Agreement and subject to certain limitations therein set
        forth,
        the transfer of this Certificate is registrable with the Trustee upon surrender
        of this Certificate for registration of transfer at the offices or agencies
        maintained by the Trustee for such purposes, duly endorsed by, or accompanied
        by
        a written instrument of transfer in form satisfactory to the Trustee duly
        executed by the Holder hereof or such Holder’s attorney duly authorized in
        writing, and thereupon one or more new Certificates in authorized denominations
        representing a like aggregate Percentage Interest will be issued to the
        designated transferee.

       

      The
        Certificates are issuable only as registered Certificates without coupons
        in the
        Classes and denominations specified in the Agreement. As provided in the
        Agreement and subject to certain limitations therein set forth, this Certificate
        is exchangeable for one or more new Certificates evidencing the same Class
        and
        in the same aggregate Percentage Interest, as requested by the Holder
        surrendering the same.

       

      No
        service charge will be made to the Certificateholders for any such registration
        of transfer, but the Trustee may require payment of a sum sufficient to cover
        any tax or other governmental charge payable in connection therewith. The
        Depositor, the Master Servicer, the Trustee and any agent of any of them
        may
        treat the Person in whose name this Certificate is registered as the owner
        hereof for all purposes, and none of Depositor, the Master Servicer, the
        Trustee
        or any such agent shall be affected by notice to the contrary.

       

      The
        obligations created by the Agreement and the Trust Fund created thereby (other
        than the obligations to make payments to Certificateholders with respect
        to the
        termination of the Agreement) shall terminate upon the earlier of (i) the
        later
        of (A) the maturity or other liquidation (or Advance with respect thereto)
        of
        the last Mortgage Loan remaining in the Trust Fund and disposition of all
        property acquired upon foreclosure or deed in lieu of foreclosure of any
        Mortgage Loan and (B) the remittance of all funds due under the Agreement,
        or
        (ii) the optional repurchase by the party named in the Agreement of all the
        Mortgage Loans and other assets of the Trust Fund in accordance with the
        terms
        of the Agreement. Such optional repurchase may be made only on or after the
        first Distribution Date on which the aggregate Stated Principal Balance of
        the
        Mortgage Loans is less than or equal to a certain percentage of the aggregate
        Stated Principal Balance of the Mortgage Loans as of the Cut-off Date as
        set
        forth in the Agreement. The exercise of such right will effect the early
        retirement of the Certificates. In no event, however, will the Trust Fund
        created by the Agreement continue beyond the earlier of
        (i)
        the expiration of 21 years after the death of certain persons identified
        in the
        Agreement and (ii) the Latest Possible Maturity Date (as defined in the
        Agreement).

       

      Unless
        this Certificate has been countersigned by an authorized signatory of the
        Trustee by manual signature, this Certificate shall not be entitled to any
        benefit under the Agreement, or be valid for any purpose.

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      IN
        WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
        executed.

       

      
        	
                Dated: _________,
                  ____

              	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                not
                  in its individual capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      CERTIFICATE
        OF AUTHENTICATION

       

      This
        is
        one of the Class [I-A-1][I-A-2][I-A-3][II-A] Certificates referred to in
        the
        within-mentioned Agreement.

       

      
        	 	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                Authorized
                  signatory of LaSalle Bank National Association, not in its individual
                  capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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) a Percentage Interest evidenced by
        the
        within Asset-Backed Certificate and hereby authorizes the transfer of
        registration of such interest to assignee on the Certificate Register of
        the
        Trust Fund.

       

      I
        (We)
        further direct the Certificate Registrar 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

              
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

       

      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

              	 
	
                assignee
                  named above, or

              	 
	
                its
                  agent.

              	 

      

      

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      EXHIBIT
        A-2

       

      Form
        of
        Class M Certificates

       

      THIS
        CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES
        [,]
        [AND] [CLASS M-1 CERTIFICATES] [,] [AND] [CLASS M-2 CERTIFICATES] [,] [AND]
        [CLASS M-3 CERTIFICATES] [,] [AND] [CLASS M-4 CERTIFICATES] [,] [AND] [CLASS
        M-5
        CERTIFICATES] [,] [AND] [CLASS M-6 CERTIFICATES] [,] [AND] [CLASS M-7
        CERTIFICATES] [,] [AND] [CLASS M-8 CERTIFICATES] [,] [AND] [CLASS M-9
        CERTIFICATES] [AND] [CLASS M-10 CERTIFICATES] AS DESCRIBED IN THE AGREEMENT
        (AS
        DEFINED BELOW).

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

       

      THE
        CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DECREASED BY THE
        PRINCIPAL PAYMENTS HEREON AND REALIZED LOSSES ALLOCABLE HERETO. ACCORDINGLY,
        FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES, THE CERTIFICATE PRINCIPAL
        BALANCE OF THIS CERTIFICATE WILL BE DIFFERENT FROM THE DENOMINATION SHOWN
        BELOW.
        ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CERTIFICATE PRINCIPAL
        BALANCE BY INQUIRY OF THE TRUSTEE NAMED HEREIN.

       

      [For
        Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7,
        Class M-8 and Class M-9] EACH
        HOLDER OF A CERTIFICATE OR BENEFICIAL OWNERSHIP SHALL BE DEEMED TO HAVE MADE
        THE
        REPRESENTATIONS SET FORTH IN SECTION 6.02(h)
        OF THE POOLING AND SERVICING AGREEMENT.

       

      UNLESS
        THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF TRANSFER,
        EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
        OF
        CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY
        TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
        PERSON
        IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
        HEREIN.

       

      [For
        Class M-10 and Class M-11]
        [THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
        ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES
        LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS
        CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY
        IN
        COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1)
        PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT
        THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN
        THE
        MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB
        PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH
        CASE,
        THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE
        ON
        RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE
        144
        UNDER THE SECURITIES ACT (IF AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN
        “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING THEREOF IN RULE
        501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE ACT OR ANY ENTITY IN
        WHICH
        ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS PURCHASING NOT FOR
        DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT TO (A) THE RECEIPT
        BY
        THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT
        AND
        (B) THE RECEIPT BY THE TRUSTEE OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE TRUSTEE
        THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE
        SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN EACH CASE IN ACCORDANCE WITH
        ALL
        APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND ANY OTHER APPLICABLE
        JURISDICTION.]

      

       [For
        Class M-10 and Class M-11]
        [THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF
        OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT
        TO
        TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED,
        OR
        SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE
        TRANSFEREE CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND HOLDING
        OF A
        CERTIFICATE AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND
        ITS
        ASSETS: (I) WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED
        UNDER PROHIBITED TRANSACTION EXEMPTION (“PTE”) 84-14, PTE 91-38, PTE 90-1, PTE
        95-60 OR PTE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS
        ON
        THE PART OF THE DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE, WHICH WILL
        BE
        DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL
        CERTIFICATE OR UNLESS AN OPINION SPECIFIED IN SECTION 6.02 OF THE AGREEMENT
        IS
        PROVIDED.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      
        	
                Certificate
                  No.1

              	
                Adjustable
                  Rate

              
	 	 
	
                Class
                  M-[1][2][3][4][5][6][7][8][9][10][11]
                  Subordinate

              	 
	 	 
	
                Date
                  of Pooling and Servicing Agreement 

                and
                  Cut-off Date: May 1, 2006

              	
                Aggregate
                  Initial Certificate Principal Balance of this Certificate as of
                  the
                  Cut-off Date:

                $[__________]

              
	 	 
	
                First
                  Distribution Date:

                June
                  26, 2006

              	
                Initial
                  Certificate Principal Balance of this Certificate as of the Cut-off
                  Date:

                $[__________]

              
	 	 
	
                Master
                  Servicer:

                EMC
                  Mortgage Corporation

              	
                CUSIP:
                  [_____]

              
	 	 
	
                Last
                  Scheduled Distribution Date:

                June
                  25, 2036

              	 
	 	 

      

      

      ASSET-BACKED
        CERTIFICATE

       

      SERIES
        2006-HE5

       

      evidencing
        a fractional undivided interest in the distributions allocable to the Class
        M-[1][2][3][4][5][6][7][8][9][10][11] Certificates with respect to a Trust
        Fund
        consisting primarily of a pool of conventional, closed-end one- to four-family
        first and second lien, one- to four-family fixed and adjustable interest
        rate
        mortgage loans sold by BEAR STEARNS ASSET BACKED SECURITIES I LLC.

       

      This
        Certificate is payable solely from the assets of the Trust Fund, and does
        not
        represent an obligation of or interest in Bear Stearns Asset Backed Securities
        I
        LLC, the Master Servicer or the Trustee referred to below or any of their
        affiliates or any other person. Neither this Certificate nor the underlying
        Mortgage Loans are guaranteed or insured by any governmental entity or by
        Bear
        Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee
        or any
        of their affiliates or any other person. None of Bear Stearns Asset Backed
        Securities I LLC, the Master Servicer or any of their affiliates will have
        any
        obligation with respect to any certificate or other obligation secured by
        or
        payable from payments on the Certificates.

       

      This
        certifies that Cede & Co. is the registered owner of the Percentage Interest
        evidenced hereby in the beneficial ownership interest of Certificates of
        the
        same Class as this Certificate in a trust (the “Trust Fund”) generally
        consisting of conventional, closed-end first and second lien, fixed and
        adjustable rate mortgage loans secured by one- to four- family residences
        (collectively, the “Mortgage Loans”) sold by Bear Stearns Asset Backed
        Securities I LLC (“BSABS I”). The Mortgage Loans were sold by EMC Mortgage
        Corporation (“EMC”) and Master Funding LLC to BSABS I. EMC will act as master
        servicer of the Mortgage Loans (in that capacity, the “Master Servicer,” which
        term includes any successors thereto under the Agreement referred to below).
        The
        Trust Fund was created pursuant to the Pooling and Servicing Agreement, dated
        as
        of the Cut-off Date specified above (the “Agreement”), among BSABS I, as
        depositor (the “Depositor”), EMC Mortgage Corporation as seller and as Master
        Servicer and LaSalle Bank National Association as trustee (the “Trustee”), a
        summary of certain of the pertinent provisions of which is set forth hereafter.
        To the extent not defined herein, capitalized terms used herein shall have
        the
        meaning ascribed 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 its acceptance hereof
        assents and by which such Holder is bound.

       

      Interest
        on this Certificate will accrue from and including the immediately preceding
        Distribution Date (or with respect to the First Distribution Date, the Closing
        Date) to and including the day prior to the current Distribution Date on
        the
        Certificate Principal Balance hereof at a per annum rate equal to the
        Pass-Through Rate set forth above. The Trustee will distribute on the 25th
        day
        of each month, or, if such 25th day is not a Business Day, the immediately
        following Business Day (each, a “Distribution Date”), commencing on the First
        Distribution Date specified above, to the Person in whose name this Certificate
        is registered at the close of business on the Business Day immediately preceding
        such Distribution Date so long as such Certificate remains in book-entry
        form
        (and otherwise, the close of business on the last Business Day of the month
        immediately preceding the month of such Distribution Date), an amount equal
        to
        the product of the Percentage Interest evidenced by this Certificate and
        the
        amount (of interest and principal, if any) required to be distributed to
        the
        Holders of Certificates of the same Class as this Certificate. The Assumed
        Final
        Distribution Date is the Distribution Date in the month following the latest
        scheduled maturity date of any Mortgage Loan.

       

      Distributions
        on this Certificate will be made by the Trustee by check mailed to the address
        of the Person entitled thereto as such name and address shall appear on the
        Certificate Register or, if such Person so requests by notifying the Trustee
        in
        writing as specified in the Agreement. Notwithstanding the above, the final
        distribution on this Certificate will be made after due notice by the Trustee
        of
        the pendency of such distribution and only upon presentation and surrender
        of
        this Certificate at the office or agency appointed by the Trustee for that
        purpose and designated in such notice. The initial Certificate Principal
        Balance
        of this Certificate is set forth above. The Certificate Principal Balance
        hereof
        will be reduced to the extent of distributions allocable to principal hereon
        and
        any Realized Losses allocable hereto

       

      [For
        Class M-10 and Class M-11] [No
        transfer of this Class M-[10][11] Certificate will be made unless such transfer
        is (i) exempt from the registration requirements of the Securities Act of
        1933,
        as amended, and any applicable state securities laws or is made in accordance
        with said Act and laws and (ii) made in accordance with Section 6.02 of the
        Agreement. In the event that such transfer is to be made the Trustee shall
        register such transfer if, (i) made to a transferee who has provided the
        Trustee
        with evidence as to its QIB status; or (ii) (A) the transferor has advised
        the
        Trustee in writing that the Certificate is being transferred to an Institutional
        Accredited Investor and (B) prior to such transfer the transferee furnishes
        to
        the Trustee an Investment Letter; provided that if based upon an Opinion
        of
        Counsel to the effect that (A) and (B) above are not sufficient to confirm
        that
        such transfer is being made pursuant to an exemption from, or in a transaction
        not subject to, the registration requirements of the Securities Act and other
        applicable laws, the Trustee shall as a condition of the registration of
        any
        such transfer require the transferor to furnish such other certifications,
        legal
        opinions or other information prior to registering the transfer of this
        Certificate as shall be set forth in such Opinion of Counsel.]

       

      This
        Certificate is one of a duly authorized issue of Certificates designated
        as set
        forth on the face hereof (the “Certificates”). The Certificates, in the
        aggregate, evidence the entire beneficial ownership interest in the Trust
        Fund
        formed pursuant to the Agreement.

       

      The
        Certificateholder, by its acceptance of this Certificate, agrees that it
        will
        look solely to the Trust Fund for payment hereunder and that the Trustee
        is not
        liable to the Certificateholders 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 hereby, and the rights, duties and immunities
        of the Trustee.

       

      The
        Agreement permits, with certain exceptions therein provided, the amendment
        thereof and the modification of the rights and obligations of the Depositor
        and
        the rights of the Certificateholders under the Agreement from time to time
        by
        the parties thereto with the consent of the Holders of the Class or Classes
        of
        Certificates affected thereby evidencing over 50% of the Voting Rights of
        such
        Class or Classes. 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
        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.

       

      As
        provided in the Agreement and subject to certain limitations therein set
        forth,
        the transfer of this Certificate is registrable with the Trustee upon surrender
        of this Certificate for registration of transfer at the offices or agencies
        maintained by the Trustee for such purposes, duly endorsed by, or accompanied
        by
        a written instrument of transfer in form satisfactory to the Trustee duly
        executed by the Holder hereof or such Holder’s attorney duly authorized in
        writing, and thereupon one or more new Certificates in authorized denominations
        representing a like aggregate Percentage Interest will be issued to the
        designated transferee.

       

      [For
        Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7,
        Class M-8 and Class M-9] Each holder of a Certificate or beneficial ownership
        shall be deemed to have made the representations set forth in Section 6.02(h)
        of
        the Pooling and Servicing Agreement. 

       

      [For
        Class M-10 and Class M-11] [This Certificate may not be acquired directly
        or
        indirectly by, or on behalf of, an employee benefit plan or other retirement
        arrangement which is subject to Title I of the Employee Retirement Income
        Security Act of 1974, as amended, or Section 4975 of the Internal Revenue
        Code
        of 1986, as amended, unless the transferee certifies or represents that the
        proposed transfer and holding of a Certificate and the servicing, management
        and
        operation of the trust and its assets: (i) will not result in any prohibited
        transaction which is not covered under Prohibited Transaction Exemption (“PTE”)
        84-14, PTE 91-38, PTE 90-1, PTE 95-60 or PTE 96-23 and (ii) will not give
        rise
        to any additional obligations on the part of the Depositor, the Master Servicer
        or the Trustee, which will be deemed represented by an owner of a Book-Entry
        Certificate or a Global Certificate or unless an Opinion of Counsel specified
        in
        section 6.02 of the Agreement is provided. This Certificate is one of a duly
        authorized issue of Certificates designated as set forth on the face hereof
        (the
“Certificates”). The Certificates, in the aggregate, evidence the entire
        beneficial ownership interest in the Trust Fund formed pursuant to the
        Agreement.] 

       

      The
        Certificates are issuable only as registered Certificates without coupons
        in the
        Classes and denominations specified in the Agreement. As provided in the
        Agreement and subject to certain limitations therein set forth, this Certificate
        is exchangeable for one or more new Certificates evidencing the same Class
        and
        in the same aggregate Percentage Interest, as requested by the Holder
        surrendering the same.

       

      No
        service charge will be made to the Certificateholders for any such registration
        of transfer, but the Trustee may require payment of a sum sufficient to cover
        any tax or other governmental charge payable in connection therewith. The
        Depositor, the Master Servicer, the Trustee and any agent of any of them
        may
        treat the Person in whose name this Certificate is registered as the owner
        hereof for all purposes, and none of the Depositor, the Master Servicer,
        the
        Trustee or any such agent shall be affected by notice to the
        contrary.

       

      The
        obligations created by the Agreement and the Trust Fund created thereby (other
        than the obligations to make payments to Certificateholders with respect
        to the
        termination of the Agreement) shall terminate upon the earlier of (i) the
        later
        of (A) the maturity or other liquidation (or Advance with respect thereto)
        of
        the last Mortgage Loan remaining in the Trust Fund and disposition of all
        property acquired upon foreclosure or deed in lieu of foreclosure of any
        Mortgage Loan and (B) the remittance of all funds due under the Agreement,
        or
        (ii) the optional repurchase by the party named in the Agreement of all the
        Mortgage Loans and other assets of the Trust Fund in accordance with the
        terms
        of the Agreement. Such optional repurchase may be made only on or after the
        first Distribution Date on which the aggregate Stated Principal Balance of
        the
        Mortgage Loans is less than or equal to a certain percentage of the aggregate
        Stated Principal Balance of the Mortgage Loans as of the Cut-off Date as
        set
        forth in the Agreement. The exercise of such right will effect the early
        retirement of the Certificates. In no event, however, will the Trust Fund
        created by the Agreement continue beyond the earlier of (i) the expiration
        of 21
        years after the death of certain persons identified in the Agreement and
        (ii)
        the Latest Possible Maturity Date (as defined in the Agreement).

       

      Unless
        this Certificate has been countersigned by an authorized signatory of the
        Trustee by manual signature, this Certificate shall not be entitled to any
        benefit under the Agreement, or be valid for any purpose.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
        executed.

       

      
        	
                Dated: _________,
                  ____

              	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                not
                  in its individual capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      CERTIFICATE
        OF AUTHENTICATION

       

      This
        is
        one of the Class M-[1][2][3][4][5][6][7][8][9][10][11] Certificates referred
        to
        in the within-mentioned Agreement.

       

      
        	 	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                Authorized
                  signatory of LaSalle Bank National Association, not in its individual
                  capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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) a Percentage Interest evidenced by
        the
        within Asset-Backed Certificate and hereby authorizes the transfer of
        registration of such interest to assignee on the Certificate Register of
        the
        Trust Fund.

       

      I
        (We)
        further direct the Certificate Registrar 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

              
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

       

      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

              	 
	
                assignee
                  named above, or

              	 
	
                its
                  agent.

              	 

      

      

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        A-3

       

      Form
        of
        Class P Certificate

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

       

      THE
        CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DECREASED BY THE
        PRINCIPAL PAYMENTS HEREON. ACCORDINGLY, FOLLOWING THE INITIAL ISSUANCE OF
        THE
        CERTIFICATES, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL
        BE
        DIFFERENT FROM THE DENOMINATION SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE
        MAY ASCERTAIN ITS CERTIFICATE PRINCIPAL BALANCE BY INQUIRY OF THE TRUSTEE
        NAMED
        HEREIN.

       

      THIS
        CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
        ACT OF
        1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE
        HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
        MAY
        BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE
        WITH
        THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE
        144A
        UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
        BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A
        (A
“QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF
        A
        QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE,
        PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT
        TO
        AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES
        ACT (IF
        AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR”
WITHIN THE MEANING THEREOF IN RULE 501(a)(1), (2), (3) or (7) OF REGULATION
        D
        UNDER THE ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN
        SUCH
        PARAGRAPHS PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES
        ACT,
        SUBJECT TO (A) THE RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE
        FORM
        PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF SUCH OTHER
        EVIDENCE ACCEPTABLE TO THE TRUSTEE THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER
        IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN
        EACH
        CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES
        AND
        ANY OTHER APPLICABLE JURISDICTION.

       

      NO
        TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
        PROVIDES EITHER A CERTIFICATION PURSUANT TO SECTION 6.02(h) OF THE AGREEMENT
        OR
        AN OPINION OF COUNSEL SATISFACTORY TO THE TRUSTEE THAT THE PURCHASE AND HOLDING
        OF THIS CERTIFICATE ARE PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE
        OR
        RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTIONS UNDER SECTION 406 OF THE
        EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) OR SECTION
        4975 OF THE CODE AND WILL NOT SUBJECT THE TRUSTEE, MASTER SERVICER OR THE
        DEPOSITOR TO ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN
        IN THE
        AGREEMENT.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                Certificate
                  No.1

              	
                Percentage
                  Interest: 100%

              
	 	 
	
                Class
                  P

              	 
	 	 
	
                Date
                  of Pooling and Servicing Agreement and Cut-off Date: May 1,
                  2006

              	
                Aggregate
                  Initial Certificate Principal Balance of this Certificate as of
                  the
                  Cut-off Date:

                $100.00

              
	 	 
	
                First
                  Distribution Date:

                June
                  26, 2006

              	
                Initial
                  Certificate Principal Balance of this Certificate as of the Cut-off
                  Date:

                $100.00

              
	 	 
	
                Master
                  Servicer:

                EMC
                  Mortgage Corporation

              	
                CUSIP:
                  [_____]

              
	 	 
	
                Last
                  Scheduled Distribution Date:

                June
                  25, 2036

              	 
	 	 

      

      

      ASSET-BACKED
        CERTIFICATE

       

      SERIES
        2006-HE5

       

      evidencing
        a fractional undivided interest in the distributions allocable to the Class
        P
        Certificates with respect to a Trust Fund consisting primarily of a pool
        of
        conventional, closed-end one- to four-family first and second lien, fixed
        and
        adjustable interest rate mortgage loans sold by BEAR STEARNS ASSET BACKED
        SECURITIES I LLC.

       

      This
        Certificate is payable solely from the assets of the Trust Fund, and does
        not
        represent an obligation of or interest in Bear Stearns Asset Backed Securities
        I
        LLC, the Master Servicer or the Trustee referred to below or any of their
        affiliates or any other person. Neither this Certificate nor the underlying
        Mortgage Loans are guaranteed or insured by any governmental entity or by
        Bear
        Stearns Asset Backed Securities I LLC, the Master Servicer, the Trustee or
        any
        of their affiliates or any other person. None of Bear Stearns Asset Backed
        Securities I LLC, the Master Servicer or any of their affiliates will have
        any
        obligation with respect to any certificate or other obligation secured by
        or
        payable from payments on the Certificates.

       

      This
        certifies that Bear, Stearns Securities Corp. is the registered owner of
        the
        Percentage Interest evidenced hereby in the beneficial ownership interest
        of
        Certificates of the same Class as this Certificate in a trust (the “Trust Fund”)
        generally consisting primarily of a pool of fixed and adjustable interest
        rate,
        conventional, closed-end mortgage loans that are secured by first and second
        liens on one- to four-family residences (collectively, the “Mortgage Loans”)
        sold by Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage
        Loans were sold by EMC Mortgage Corporation (“EMC”) and Master Funding LLC
        (“Master Funding LLC”, and together with EMC, the “Sellers”) to BSABS I. EMC
        will act as master servicer of the Mortgage Loans (in that capacity, the
“Master
        Servicer,” which term includes any successors thereto under the Agreement
        referred to below). The Trust Fund was created pursuant to the Pooling and
        Servicing Agreement, dated as of the Cut-off Date specified above (the
“Agreement”), among BSABS I, as depositor (the “Depositor”), EMC Mortgage
        Corporation as seller and as Master Servicer and LaSalle Bank National
        Association, as trustee (the “Trustee”), a summary of certain of the pertinent
        provisions of which is set forth hereafter. To the extent not defined herein,
        capitalized terms used herein shall have the meaning ascribed 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 its acceptance hereof assents and by which
        such
        Holder is bound.

       

      The
        Trustee will distribute on the 25th day of each month, or, if such 25th day
        is
        not a Business Day, the immediately following Business Day (each, a
“Distribution Date”), commencing on the First Distribution Date specified above,
        to the Person in whose name this Certificate is registered at the close of
        business on the last day (or if such last day is not a Business Day, the
        Business Day immediately preceding such last day) of the calendar month
        immediately preceding the month in which the Distribution Date occurs, an
        amount
        equal to the product of the Percentage Interest evidenced by this Certificate
        and the amounts required to be distributed to the Holders of Certificates
        of the
        same Class as this Certificate. 

       

      Distributions
        on this Certificate will be made by the Trustee by check mailed to the address
        of the Person entitled thereto as such name and address shall appear on the
        Certificate Register or, if such Person so requests by notifying the Trustee
        in
        writing as specified in the Agreement. Notwithstanding the above, the final
        distribution on this Certificate will be made after due notice by the Trustee
        of
        the pendency of such distribution and only upon presentation and surrender
        of
        this Certificate at the office or agency appointed by the Trustee for that
        purpose and designated in such notice.

       

      No
        transfer of this Certificate shall be made unless the transfer is made pursuant
        to an effective registration statement under the Securities Act of 1933,
        as
        amended (the “1933 Act”), and an effective registration or qualification under
        applicable state securities laws, or is made in a transaction that does not
        require such registration or qualification. In the event that such a transfer
        of
        this Certificate is to be made without registration or qualification, the
        Trustee shall require receipt of (i) if such transfer is purportedly being
        made
        in reliance upon Rule 144A under the 1933 Act, written certifications from
        the
        Holder of the Certificate desiring to effect the transfer, and from such
        Holder’s prospective transferee, substantially in the forms attached to the
        Agreement as Exhibit D and either Exhibit E or Exhibit F, as applicable,
        and
        (ii) in all other cases, an Opinion of Counsel satisfactory to it that such
        transfer may be made without such registration or qualification (which Opinion
        of Counsel shall not be an expense of the Trust Fund or of the Depositor,
        the
        Trustee or the Master Servicer in their respective capacities as such), together
        with copies of the written certification(s) of the Holder of the Certificate
        desiring to effect the transfer and/or such Holder’s prospective transferee upon
        which such Opinion of Counsel is based. Neither the Depositor nor the Trustee
        is
        obligated to register or qualify the Class of Certificates specified on the
        face
        hereof under the 1933 Act or any other securities law or to take any action
        not
        otherwise required under the Agreement to permit the transfer of such
        Certificates without registration or qualification. Any Holder desiring to
        effect a transfer of this Certificate shall be required to indemnify the
        Trustee, the Depositor, the Sellers and the Master Servicer 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 this Class P Certificate will be made unless the Trustee shall
        have
        received either (i) the Opinion of Counsel set forth in Section 6.02(h) of
        the
        Agreement or (ii) a representation letter under Section 6.02 of the Agreement,
        in the form as described by the Agreement, stating that the transferee is
        not an
        employee benefit or other plan subject to the prohibited transaction provisions
        of ERISA or Section 4975 of the Code (a “Plan”), or any other person (including
        an investment manager, a named fiduciary or a trustee of any Plan) acting,
        directly or indirectly, on behalf of or purchasing any Certificate with “plan
        assets” of any Plan.

       

      This
        Certificate is one of a duly authorized issue of Certificates designated
        as set
        forth on the face hereof (the “Certificates”). The Certificates, in the
        aggregate, evidence the entire beneficial ownership interest in the Trust
        Fund
        formed pursuant to the Agreement.

       

      The
        Certificateholder, by its acceptance of this Certificate, agrees that it
        will
        look solely to the Trust Fund for payment hereunder and that the Trustee
        is not
        liable to the Certificateholders 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 hereby, and the rights, duties and immunities
        of the Trustee.

       

      The
        Agreement permits, with certain exceptions therein provided, the amendment
        thereof and the modification of the rights and obligations of the Depositor
        and
        the rights of the Certificateholders under the Agreement from time to time
        by
        the parties thereto with the consent of the Holders of the Class or Classes
        of
        Certificates affected thereby evidencing over 50% of the Voting Rights of
        such
        Class or Classes. 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
        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.

       

      As
        provided in the Agreement and subject to certain limitations therein set
        forth,
        the transfer of this Certificate is registrable with the Trustee upon surrender
        of this Certificate for registration of transfer at the offices or agencies
        maintained by the Trustee for such purposes, duly endorsed by, or accompanied
        by
        a written instrument of transfer in form satisfactory to the Trustee duly
        executed by the Holder hereof or such Holder’s attorney duly authorized in
        writing, and thereupon one or more new Certificates in authorized denominations
        representing a like aggregate Percentage Interest will be issued to the
        designated transferee.

       

      The
        Certificates are issuable only as registered Certificates without coupons
        in the
        Classes and denominations specified in the Agreement. As provided in the
        Agreement and subject to certain limitations therein set forth, this Certificate
        is exchangeable for one or more new Certificates evidencing the same Class
        and
        in the same aggregate Percentage Interest, as requested by the Holder
        surrendering the same.

       

      No
        service charge will be made to the Certificateholders for any such registration
        of transfer, but the Trustee may require payment of a sum sufficient to cover
        any tax or other governmental charge payable in connection therewith. The
        Depositor, the Master Servicer, the Trustee and any agent of any of them
        may
        treat the Person in whose name this Certificate is registered as the owner
        hereof for all purposes, and none of the Depositor, the Master Servicer,
        the
        Trustee or any such agent shall be affected by notice to the
        contrary.

       

      The
        obligations created by the Agreement and the Trust Fund created thereby (other
        than the obligations to make payments to Certificateholders with respect
        to the
        termination of the Agreement) shall terminate upon the earlier of (i) the
        later
        of (A) the maturity or other liquidation (or Advance with respect thereto)
        of
        the last Mortgage Loan remaining in the Trust Fund and disposition of all
        property acquired upon foreclosure or deed in lieu of foreclosure of any
        Mortgage Loan and (B) the remittance of all funds due under the Agreement,
        or
        (ii) the optional repurchase by the party named in the Agreement of all the
        Mortgage Loans and other assets of the Trust Fund in accordance with the
        terms
        of the Agreement. Such optional repurchase may be made only on or after the
        first Distribution Date on which the aggregate Stated Principal Balance of
        the
        Mortgage Loans is less than or equal to a certain percentage of the aggregate
        Stated Principal Balance of the Mortgage Loans as of the Cut-off Date as
        set
        forth in the Agreement. The exercise of such right will effect the early
        retirement of the Certificates. In no event, however, will the Trust Fund
        created by the Agreement continue beyond the earlier of (i) the expiration
        of 21
        years after the death of certain persons identified in the Agreement and
        (ii)
        the Latest Possible Maturity Date (as defined in the Agreement).

       

      Unless
        this Certificate has been countersigned by an authorized signatory of the
        Trustee by manual signature, this Certificate shall not be entitled to any
        benefit under the Agreement, or be valid for any purpose.

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed.

       

      
        	
                Dated: _________,
                  ____

              	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                not
                  in its individual capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      CERTIFICATE
        OF AUTHENTICATION

       

      This
        is
        one of the Class P Certificates referred to in the within-mentioned
        Agreement.

       

      
        	 	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                Authorized
                  signatory of LaSalle Bank National Association, not in its individual
                  capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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) a Percentage Interest evidenced by
        the
        within Asset-Backed Certificate and hereby authorizes the transfer of
        registration of such interest to assignee on the Certificate Register of
        the
        Trust Fund.

       

      I
        (We)
        further direct the Certificate Registrar 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

              
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

      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

              	 
	
                assignee
                  named above, or

              	 
	
                its
                  agent.

              	 

      

      

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        A-4

       

      Form
        of
        Class CE Certificates

       

      THIS
        CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES
        AND
        THE CLASS M CERTIFICATES AS DESCRIBED IN THE AGREEMENT (AS DEFINED
        BELOW).

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

       

      THIS
        CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
        ACT OF
        1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE
        HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
        MAY
        BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE
        WITH
        THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE
        144A
        UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
        BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A
        (A
“QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF
        A
        QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE,
        PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT
        TO
        AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES
        ACT (IF
        AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR”
WITHIN THE MEANING THEREOF IN RULE 501(a)(1), (2), (3) or (7) OF REGULATION
        D
        UNDER THE ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN
        SUCH
        PARAGRAPHS PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES
        ACT,
        SUBJECT TO (A) THE RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE
        FORM
        PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF SUCH OTHER
        EVIDENCE ACCEPTABLE TO THE TRUSTEE THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER
        IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN
        EACH
        CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES
        AND
        ANY OTHER APPLICABLE JURISDICTION.

       

      NO
        TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
        PROVIDES EITHER A CERTIFICATION PURSUANT TO SECTION 6.02(h) OF THE AGREEMENT
        OR
        AN OPINION OF COUNSEL SATISFACTORY TO THE TRUSTEE THAT THE PURCHASE AND HOLDING
        OF THIS CERTIFICATE ARE PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE
        OR
        RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTIONS UNDER SECTION 406 OF THE
        EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) OR SECTION
        4975 OF THE CODE AND WILL NOT SUBJECT THE TRUSTEE, MASTER SERVICER OR THE
        DEPOSITOR TO ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN
        IN THE
        AGREEMENT.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                Certificate
                  No. [_]

              	
                Percentage
                  Interest: 100%

              
	 	 
	
                Class
                  CE

              	
                Adjustable
                  Rate

              
	 	 
	
                Date
                  of Pooling and Servicing Agreement 

                and
                  Cut-off Date: May 1, 2006

              	
                Initial
                  Certificate Notional Amount of this Certificate as of the Cut-off
                  Date:

                $[__________]

              
	 	 
	
                First
                  Distribution Date:

                June
                  26, 2006

              	
                Aggregate
                  Certificate Notional Amount of this Certificate as of the Cut-off
                  Date:

                $[__________]

              
	 	 
	
                Master
                  Servicer:

                EMC
                  Mortgage Corporation

              	
                CUSIP:
                  [_____]

              
	 	 
	
                Last
                  Scheduled Distribution Date:

                June
                  25, 2036

              	 
	 	 

      

      

      ASSET-BACKED
        CERTIFICATE

       

      SERIES
        2006-HE5

       

      evidencing
        a fractional undivided interest in the distributions allocable to the Class
        CE
        Certificates with respect to a Trust Fund consisting primarily of a pool
        of
        fixed and adjustable interest rate, conventional, closed-end mortgage loans
        that
        are secured by first and second liens on one- to four-family residences sold
        by
        BEAR STEARNS ASSET BACKED SECURITIES I LLC.

       

      This
        Certificate is payable solely from the assets of the Trust Fund, and does
        not
        represent an obligation of or interest in Bear Stearns Asset Backed Securities
        I
        LLC, the Master Servicer or the Trustee referred to below or any of their
        affiliates or any other person. Neither this Certificate nor the underlying
        Mortgage Loans are guaranteed or insured by any governmental entity or by
        Bear
        Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee
        or any
        of their affiliates or any other person. None of Bear Stearns Asset Backed
        Securities I LLC, the Master Servicer or any of their affiliates will have
        any
        obligation with respect to any certificate or other obligation secured by
        or
        payable from payments on the Certificates.

       

      This
        certifies that Bear, Stearns Securities Co. is the registered owner of the
        Percentage Interest evidenced hereby in the beneficial ownership interest
        of
        Certificates of the same Class as this Certificate in a trust (the “Trust Fund”)
        generally consisting primarily of a pool of fixed and adjustable interest
        rate,
        conventional, closed-end mortgage loans that are secured by first and second
        liens on one- to four-family residences (collectively, the “Mortgage Loans”)
        sold by Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage
        Loans were sold by EMC Mortgage Corporation (“EMC”) and Master Funding LLC
        (“Master Funding LLC”, and together with EMC, the “Sellers”) to BSABS I. EMC
        will act as master servicer of the Mortgage Loans (in that capacity, the
“Master
        Servicer,” which term includes any successors thereto under the Agreement
        referred to below). The Trust Fund was created pursuant to the Pooling and
        Servicing Agreement, dated as of the Cut-off Date specified above (the
“Agreement”), among BSABS I, as depositor (the “Depositor”), EMC Mortgage
        Corporation as seller and as Master Servicer and LaSalle Bank National
        Association, as trustee (the “Trustee”), a summary of certain of the pertinent
        provisions of which is set forth hereafter. To the extent not defined herein,
        capitalized terms used herein shall have the meaning ascribed 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 its acceptance hereof assents and by which
        such
        Holder is bound.

       

      The
        Trustee will distribute on the 25th day of each month, or, if such 25th day
        is
        not a Business Day, the immediately following Business Day (each, a
“Distribution Date”), commencing on the First Distribution Date specified above,
        to the Person in whose name this Certificate is registered at the close of
        business on the last day (or if such last day is not a Business Day, the
        Business Day immediately preceding such last day) of the calendar month
        immediately preceding the month in which the Distribution Date occurs, an
        amount
        equal to the product of the Percentage Interest evidenced by this Certificate
        and the amounts required to be distributed to the Holders of Certificates
        of the
        same Class as this Certificate. 

       

      Distributions
        on this Certificate will be made by the Trustee by check mailed to the address
        of the Person entitled thereto as such name and address shall appear on the
        Certificate Register or, if such Person so requests by notifying the Trustee
        in
        writing as specified in the Agreement. Notwithstanding the above, the final
        distribution on this Certificate will be made after due notice by the Trustee
        of
        the pendency of such distribution and only upon presentation and surrender
        of
        this Certificate at the office or agency appointed by the Trustee for that
        purpose and designated in such notice.

       

      No
        transfer of this Certificate shall be made unless the transfer is made pursuant
        to an effective registration statement under the Securities Act of 1933,
        as
        amended (the “1933 Act”), and an effective registration or qualification under
        applicable state securities laws, or is made in a transaction that does not
        require such registration or qualification. In the event that such a transfer
        of
        this Certificate is to be made without registration or qualification, the
        Trustee shall require receipt of (i) if such transfer is purportedly being
        made
        in reliance upon Rule 144A under the 1933 Act, written certifications from
        the
        Holder of the Certificate desiring to effect the transfer, and from such
        Holder’s prospective transferee, substantially in the forms attached to the
        Agreement as Exhibit D and either Exhibit E or Exhibit F, as applicable,
        and
        (ii) in all other cases, an Opinion of Counsel satisfactory to it that such
        transfer may be made without such registration or qualification (which Opinion
        of Counsel shall not be an expense of the Trust Fund or of the Depositor,
        the
        Trustee, or the Master Servicer in their respective capacities as such),
        together with copies of the written certification(s) of the Holder of the
        Certificate desiring to effect the transfer and/or such Holder’s prospective
        transferee upon which such Opinion of Counsel is based. Neither the Depositor
        nor the Trustee is obligated to register or qualify the Class of Certificates
        specified on the face hereof under the 1933 Act or any other securities law
        or
        to take any action not otherwise required under the Agreement to permit the
        transfer of such Certificates without registration or qualification. Any
        Holder
        desiring to effect a transfer of this Certificate shall be required to indemnify
        the Trustee, the Depositor, the Sellers and the Master Servicer 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 this Class CE Certificate will be made unless the Trustee shall
        have
        received either (i) the Opinion of Counsel set forth in Section 6.02(h) of
        the
        Agreement or (ii) a representation letter under Section 6.02 of the Agreement,
        in the form as described by the Agreement, stating that the transferee is
        not an
        employee benefit or other plan subject to the prohibited transaction provisions
        of ERISA or Section 4975 of the Code (a “Plan”), or any other person (including
        an investment manager, a named fiduciary or a trustee of any Plan) acting,
        directly or indirectly, on behalf of or purchasing any Certificate with “plan
        assets” of any Plan.

       

      This
        Certificate is one of a duly authorized issue of Certificates designated
        as set
        forth on the face hereof (the “Certificates”). The Certificates, in the
        aggregate, evidence the entire beneficial ownership interest in the Trust
        Fund
        formed pursuant to the Agreement.

       

      The
        Certificateholder, by its acceptance of this Certificate, agrees that it
        will
        look solely to the Trust Fund for payment hereunder and that the Trustee
        is not
        liable to the Certificateholders 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 hereby, and the rights, duties and immunities
        of the Trustee.

       

      The
        Agreement permits, with certain exceptions therein provided, the amendment
        thereof and the modification of the rights and obligations of the Depositor
        and
        the rights of the Certificateholders under the Agreement from time to time
        by
        the parties thereto with the consent of the Holders of the Class or Classes
        of
        Certificates affected thereby evidencing over 50% of the Voting Rights of
        such
        Class or Classes. 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
        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.

       

      As
        provided in the Agreement and subject to certain limitations therein set
        forth,
        the transfer of this Certificate is registrable with the Trustee upon surrender
        of this Certificate for registration of transfer at the offices or agencies
        maintained by the Trustee for such purposes, duly endorsed by, or accompanied
        by
        a written instrument of transfer in form satisfactory to the Trustee duly
        executed by the Holder hereof or such Holder’s attorney duly authorized in
        writing, and thereupon one or more new Certificates in authorized denominations
        representing a like aggregate Percentage Interest will be issued to the
        designated transferee.

       

      The
        Certificates are issuable only as registered Certificates without coupons
        in the
        Classes and denominations specified in the Agreement. As provided in the
        Agreement and subject to certain limitations therein set forth, this Certificate
        is exchangeable for one or more new Certificates evidencing the same Class
        and
        in the same aggregate Percentage Interest, as requested by the Holder
        surrendering the same.

       

      No
        service charge will be made to the Certificateholders for any such registration
        of transfer, but the Trustee may require payment of a sum sufficient to cover
        any tax or other governmental charge payable in connection therewith. The
        Depositor, the Master Servicer, the Trustee and any agent of any of them
        may
        treat the Person in whose name this Certificate is registered as the owner
        hereof for all purposes, and none of the Depositor, the Master Servicer,
        the
        Trustee or any such agent shall be affected by notice to the
        contrary.

       

      The
        obligations created by the Agreement and the Trust Fund created thereby (other
        than the obligations to make payments to Certificateholders with respect
        to the
        termination of the Agreement) shall terminate upon the earlier of (i) the
        later
        of (A) the maturity or other liquidation (or Advance with respect thereto)
        of
        the last Mortgage Loan remaining in the Trust Fund and disposition of all
        property acquired upon foreclosure or deed in lieu of foreclosure of any
        Mortgage Loan and (B) the remittance of all funds due under the Agreement,
        or
        (ii) the optional repurchase by the party named in the Agreement of all the
        Mortgage Loans and other assets of the Trust Fund in accordance with the
        terms
        of the Agreement. Such optional repurchase may be made only on or after the
        first Distribution Date on which the aggregate Stated Principal Balance of
        the
        Mortgage Loans is less than or equal to a certain percentage of the aggregate
        Stated Principal Balance of the Mortgage Loans as of the Cut-off Date as
        set
        forth in the Agreement. The exercise of such right will effect the early
        retirement of the Certificates. In no event, however, will the Trust Fund
        created by the Agreement continue beyond the earlier of (i) the expiration
        of 21
        years after the death of certain persons identified in the Agreement and
        (ii)
        the Latest Possible Maturity Date (as defined in the Agreement).

       

      Unless
        this Certificate has been countersigned by an authorized signatory of the
        Trustee by manual signature, this Certificate shall not be entitled to any
        benefit under the Agreement, or be valid for any purpose.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
        executed.

       

      
        	
                Dated: _________,
                  ____

              	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                not
                  in its individual capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      CERTIFICATE
        OF AUTHENTICATION

       

      This
        is
        one of the Class CE Certificates referred to in the within-mentioned
        Agreement.

       

      
        	 	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                Authorized
                  signatory of LaSalle Bank National Association, not in its individual
                  capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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) a Percentage Interest evidenced by
        the
        within Asset-Backed Certificate and hereby authorizes the transfer of
        registration of such interest to assignee on the Certificate Register of
        the
        Trust Fund.

       

      I
        (We)
        further direct the Certificate Registrar 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

              
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

       

      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

              	 
	
                assignee
                  named above, or

              	 
	
                its
                  agent.

              	 

      

      

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        A-5

       

      Form
        of
        Class R Certificates

       

      THIS
        CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A NON-UNITED STATES PERSON
        OR A
        DISQUALIFIED ORGANIZATION (AS DEFINED BELOW).

       

      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
        (THE “CODE”).

       

      NO
        TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
        PROVIDES EITHER A CERTIFICATION PURSUANT TO SECTION 6.02(h) OF THE AGREEMENT
        OR
        AN OPINION OF COUNSEL SATISFACTORY TO THE TRUSTEE THAT THE PURCHASE AND HOLDING
        OF THIS CERTIFICATE ARE PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE
        OR
        RESULT IN ANY NON-EXEMPT PROHIBITED TRANSACTIONS UNDER SECTION 406 OF THE
        EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) OR SECTION
        4975 OF THE CODE AND WILL NOT SUBJECT THE TRUSTEE, MASTER SERVICER OR THE
        DEPOSITOR TO ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN
        IN THE
        AGREEMENT.

       

      ANY
        RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
        IF
        THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE MASTER SERVICER
        AND
        THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY STATE
        OR
        POLITICAL SUBDIVISION THEREOF, ANY POSSESSION OF THE UNITED STATES, OR ANY
        AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING (OTHER THAN AN INSTRUMENTALITY
        WHICH IS A CORPORATION IF ALL OF ITS ACTIVITIES ARE SUBJECT TO TAX AND EXCEPT
        FOR FREDDIE MAC, A MAJORITY OF ITS BOARD OF DIRECTORS IS NOT SELECTED BY
        SUCH
        GOVERNMENTAL UNIT), (B) A FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION,
        OR
        ANY AGENCY OR INSTRUMENTALITY OF EITHER OF THE FOREGOING, (C) ANY ORGANIZATION
        (OTHER THAN CERTAIN FARMERS’ COOPERATIVES DESCRIBED IN SECTION 521 OF THE CODE)
        WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH
        ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE (INCLUDING
        THE TAX IMPOSED BY SECTION 511 OF THE CODE ON UNRELATED BUSINESS TAXABLE
        INCOME), (D) RURAL ELECTRIC AND TELEPHONE COOPERATIVES DESCRIBED IN SECTION
        1381(a)(2)(C) OF THE CODE, (E) AN ELECTING LARGE PARTNERSHIP UNDER SECTION
        775(a) OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A),
        (B),
        (C), (D) OR (E) BEING HEREIN REFERRED TO AS A “DISQUALIFIED ORGANIZATION”), OR
        (F) AN AGENT OF A DISQUALIFIED ORGANIZATION, (2) SUCH TRANSFEREE IS A UNITED
        STATES PERSON UNDER SECTION 7701 OF THE CODE, (3) NO PURPOSE OF SUCH TRANSFER
        IS
        TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX AND (4) SUCH TRANSFEREE SATISFIES
        CERTAIN ADDITIONAL CONDITIONS RELATING TO THE FINANCIAL CONDITION OF THE
        PROPOSED TRANSFEREE. NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE
        REGISTER OR ANY TRANSFER, SALE OR OTHER DISPOSITION OF THIS CERTIFICATE TO
        A
        DISQUALIFIED ORGANIZATION OR AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH
        REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER
        AND
        SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE
        HEREUNDER, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON
        THIS
        CERTIFICATE. EACH HOLDER OF THIS CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE
        SHALL BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS
        PARAGRAPH.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                Certificate
                  No.1

              	 
	 	 
	
                Class
                  [R-1][R-2][R-3][RX]

              	
                Percentage
                  Interest: 100%

              
	 	 
	
                Date
                  of Pooling and Servicing Agreement and Cut-off Date: May 1,
                  2006

              	 
	 	 
	
                First
                  Distribution Date:

                June
                  26, 2006

              	 
	 	 
	
                Master
                  Servicer:

                EMC
                  Mortgage Corporation

              	
                CUSIP:
                  [_____]

              
	 	 
	
                Last
                  Scheduled Distribution Date:

                June
                  25, 2036

              	 
	 	 

      

      

      ASSET-BACKED
        CERTIFICATE

       

      SERIES
        2006-HE5

       

      evidencing
        a fractional undivided interest in the distributions allocable to the Class
        [R-1][ R-2][ R-3][RX] Certificates with respect to a Trust Fund consisting
        primarily of a pool of conventional, closed-end first and second lien one-
        to
        four-family fixed and adjustable interest rate mortgage loans sold by BEAR
        STEARNS ASSET BACKED SECURITIES I LLC.

       

      This
        Certificate is payable solely from the assets of the Trust Fund, and does
        not
        represent an obligation of or interest in Bear Stearns Asset Backed Securities
        I
        LLC, the Master Servicer or the Trustee referred to below or any of their
        affiliates or any other person. Neither this Certificate nor the underlying
        Mortgage Loans are guaranteed or insured by any governmental entity or by
        Bear
        Stearns Asset Backed Securities I LLC, the Master Servicer, the Trustee or
        any
        of their affiliates or any other person. None of Bear Stearns Asset Backed
        Securities I LLC, the Master Servicer or any of their affiliates will have
        any
        obligation with respect to any certificate or other obligation secured by
        or
        payable from payments on the Certificates.

       

      This
        certifies that Bear, Stearns Securities Corp. is the registered owner of
        the
        Percentage Interest evidenced hereby in the beneficial ownership interest
        of
        Certificates of the same Class as this Certificate in a trust (the “Trust Fund”)
        generally consisting of conventional, closed-end first and second lien, fixed
        and adjustable rate mortgage loans secured by one- to four- family residences
        (collectively, the “Mortgage Loans”) sold by Bear Stearns Asset Backed
        Securities I LLC (“BSABS I”). The Mortgage Loans were sold by EMC Mortgage
        Corporation (“EMC”) and Master Funding LLC to BSABS I. EMC will act as master
        servicer of the Mortgage Loans (in that capacity, the “Master Servicer,” which
        term includes any successors thereto under the Agreement referred to below).
        The
        Trust Fund was created pursuant to the Pooling and Servicing Agreement, dated
        as
        of the Cut-off Date specified above (the “Agreement”), among BSABS I, as
        depositor (the “Depositor”), EMC Mortgage Corporation as seller and as Master
        Servicer and LaSalle Bank National Association as trustee (the “Trustee”), a
        summary of certain of the pertinent provisions of which is set forth hereafter.
        To the extent not defined herein, capitalized terms used herein shall have
        the
        meaning ascribed 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 its acceptance hereof
        assents and by which such Holder is bound.

       

      Each
        Holder of this Certificate will be deemed to have agreed to be bound by
        the

      restrictions
        set forth in the Agreement to the effect that (i) each person holding or
        acquiring any Ownership Interest in this Certificate must be a Permitted
        Transferee, (ii) the transfer of any Ownership Interest in this Certificate
        will
        be conditioned upon the delivery to the Trustee of, among other things, an
        affidavit to the effect that it is a Permitted Transferee, (iii) 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, and (iv) if any person other than a Permitted
        Transferee acquires any Ownership Interest in this Certificate in violation
        of
        such restrictions, then the Depositor will have the right, in its sole
        discretion and without notice to the Holder of this Certificate, to sell
        this
        Certificate to a purchaser selected by the Depositor, which purchaser may
        be the
        Depositor, or any affiliate of the Depositor, on such terms and conditions
        as
        the Depositor may choose.

       

      The
        Trustee will distribute on the 25th day of each month, or, if such 25th day
        is
        not a Business Day, the immediately following Business Day (each, a
“Distribution Date”), commencing on the First Distribution Date specified above,
        to the Person in whose name this Certificate is registered at the close of
        business on the last day (or if such last day is not a Business Day, the
        Business Day immediately preceding such last day) of the calendar month
        immediately preceding the month in which the Distribution Date occurs, an
        amount
        equal to the product of the Percentage Interest evidenced by this Certificate
        and the amounts required to be distributed to the Holders of Certificates
        of the
        same Class as this Certificate. 

       

      Distributions
        on this Certificate will be made by the Trustee by check mailed to the address
        of the Person entitled thereto as such name and address shall appear on the
        Certificate Register or, if such Person so requests by notifying the Trustee
        in
        writing as specified in the Agreement. Notwithstanding the above, the final
        distribution on this Certificate will be made after due notice by the Trustee
        of
        the pendency of such distribution and only upon presentation and surrender
        of
        this Certificate at the office or agency appointed by the Trustee for that
        purpose and designated in such notice.

       

      No
        transfer of this Class [R-1][ R-2][R-3][RX] Certificate will be made unless
        the
        Trustee shall have received either (i) the Opinion of Counsel set forth in
        Section 6.02(h) of the Agreement or (ii) a representation letter under Section
        6.02 of the Agreement, in the form as described by the Agreement, stating
        that
        the transferee is not an employee benefit or other plan subject to the
        prohibited transaction provisions of ERISA or Section 4975 of the Code (a
        “Plan”), or any other person (including an investment manager, a named fiduciary
        or a trustee of any Plan) acting, directly or indirectly, on behalf of or
        purchasing any Certificate with “plan assets” of any Plan.

       

      This
        Certificate is one of a duly authorized issue of Certificates designated
        as set
        forth on the face hereof (the “Certificates”). The Certificates, in the
        aggregate, evidence the entire beneficial ownership interest in the Trust
        Fund
        formed pursuant to the Agreement.

       

      The
        Certificateholder, by its acceptance of this Certificate, agrees that it
        will
        look solely to the Trust Fund for payment hereunder and that the Trustee
        is not
        liable to the Certificateholders 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 hereby, and the rights, duties and immunities
        of the Trustee.

       

      The
        Agreement permits, with certain exceptions therein provided, the amendment
        thereof and the modification of the rights and obligations of the Depositor
        and
        the rights of the Certificateholders under the Agreement from time to time
        by
        the parties thereto with the consent of the Holders of the Class or Classes
        of
        Certificates affected thereby evidencing over 50% of the Voting Rights of
        such
        Class or Classes. 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
        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.

       

      As
        provided in the Agreement and subject to certain limitations therein set
        forth,
        the transfer of this Certificate is registrable with the Trustee upon surrender
        of this Certificate for registration of transfer at the offices or agencies
        maintained by the Trustee for such purposes, duly endorsed by, or accompanied
        by
        a written instrument of transfer in form satisfactory to the Trustee duly
        executed by the Holder hereof or such Holder’s attorney duly authorized in
        writing, and thereupon one or more new Certificates in authorized denominations
        representing a like aggregate Percentage Interest will be issued to the
        designated transferee.

       

      The
        Certificates are issuable only as registered Certificates without coupons
        in the
        Classes and denominations specified in the Agreement. As provided in the
        Agreement and subject to certain limitations therein set forth, this Certificate
        is exchangeable for one or more new Certificates evidencing the same Class
        and
        in the same aggregate Percentage Interest, as requested by the Holder
        surrendering the same.

       

      No
        service charge will be made to the Certificateholders for any such registration
        of transfer, but the Trustee may require payment of a sum sufficient to cover
        any tax or other governmental charge payable in connection therewith. The
        Depositor, the Master Servicer, the Trustee and any agent of any of them
        may
        treat the Person in whose name this Certificate is registered as the owner
        hereof for all purposes, and none of Depositor, the Master Servicer, the
        Trustee
        or any such agent shall be affected by notice to the contrary.

       

      The
        obligations created by the Agreement and the Trust Fund created thereby (other
        than the obligations to make payments to Certificateholders with respect
        to the
        termination of the Agreement) shall terminate upon the earlier of (i) the
        later
        of (A) the maturity or other liquidation (or Advance with respect thereto)
        of
        the last Mortgage Loan remaining in the Trust Fund and disposition of all
        property acquired upon foreclosure or deed in lieu of foreclosure of any
        Mortgage Loan and (B) the remittance of all funds due under the Agreement,
        or
        (ii) the optional repurchase by the party named in the Agreement of all the
        Mortgage Loans and other assets of the Trust Fund in accordance with the
        terms
        of the Agreement. Such optional repurchase may be made only on or after the
        first Distribution Date on which the aggregate Stated Principal Balance of
        the
        Mortgage Loans is less than or equal to a certain percentage of the aggregate
        Stated Principal Balance of the Mortgage Loans as of the Cut-off Date as
        set
        forth in the Agreement. The exercise of such right will effect the early
        retirement of the Certificates. In no event, however, will the Trust Fund
        created by the Agreement continue beyond the earlier of (i) the expiration
        of 21
        years after the death of certain persons identified in the Agreement and
        (ii)
        the Latest Possible Maturity Date (as defined in the Agreement).

       

      Unless
        this Certificate has been countersigned by an authorized signatory of the
        Trustee by manual signature, this Certificate shall not be entitled to any
        benefit under the Agreement, or be valid for any purpose.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
        executed.

       

      
        	
                Dated: _________,
                  ____

              	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                not
                  in its individual capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      CERTIFICATE
        OF AUTHENTICATION

       

      This
        is
        one of the Class [R-1][R-2][R-3][RX] Certificates referred to in the
        within-mentioned Agreement.

       

      
        	 	 	 	
                LASALLE
                  BANK NATIONAL ASSOCIATION

                Authorized
                  signatory of LaSalle Bank National Association, not in its individual
                  capacity but solely as Trustee

              
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                Authorized
                  Signatory

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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) a Percentage Interest evidenced by
        the
        within Asset-Backed Certificate and hereby authorizes the transfer of
        registration of such interest to assignee on the Certificate Register of
        the
        Trust Fund.

       

      I
        (We)
        further direct the Certificate Registrar 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

              
	 	 
	 	 
	 	
                Signature
                  Guaranteed

              

      

      

       

      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

              	 
	
                assignee
                  named above, or

              	 
	
                its
                  agent.

              	 

      

      

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        B

       

      MORTGAGE
        LOAN SCHEDULE

       

      
        
               ZIP_     STATE     CITY1                            PROPTYPE                       CURRENT_     SERV_    LPMI     TRUST      MSERV        CURRENT_       MATURITY_         STATED_       STATED_
     CODE                                                                                 GROSS_       FEE               FEE                       NET_            DATE       ORIGINAL_          REM_
                                                                                          COUPON                                                 COUPON                            TERM          TERM
    70601     LA        LAKE CHARLES                     Single Family                     8.975       0.5       0    0.0055          0          8.4695        20350601             360           349
    70737     LA        GONZALES                         PUD                                 7.8       0.5       0    0.0055          0          7.2945        20350501             360           348
    39232     MS        FLOWOOD                          Single Family                     8.625       0.5       0    0.0055          0          8.1195        20350501             360           348
    32738     FL        Deltona                          Single Family                     9.625       0.5       0    0.0055          0          9.1195        20360401             360           359
    48134     MI        Brownstown                       Single Family                     6.625       0.5       0    0.0055          0          6.1195        20360401             360           359
    47250     IN        MADISON                          Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360401             360           359
    32720     FL        DELAND                           Single Family                     9.375       0.5       0    0.0055          0          8.8695        20360401             360           359
    45230     OH        Cincinnati                       Single Family                    10.875       0.5       0    0.0055          0         10.3695        20360401             360           359
    49347     MI        Trufant                          Single Family                     8.625       0.5       0    0.0055          0          8.1195        20360501             360           360
    33056     FL        MIAMI GARDENS                    Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360401             360           359
    77058     TX        Houston                          Condominium                         9.6       0.5       0    0.0055          0          9.0945        20360401             360           359
    44431     OH        Leetonia                         Single Family                     10.15       0.5       0    0.0055          0          9.6445        20360401             360           359
    76002     TX        Arlington                        Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360101             360           356
    92504     CA        Riverside                        Single Family                     11.75       0.5       0    0.0055          0         11.2445        20210401             180           179
    92504     CA        Riverside                        Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360401             360           359
    78213     TX        San Antonio                      Single Family                    10.989       0.5       0    0.0055          0         10.4835        20260401             240           239
    78213     TX        San Antonio                      Single Family                      8.49       0.5       0    0.0055          0          7.9845        20360401             360           359
    34759     FL        KISSIMMEE                        Single Family                     8.875       0.5       0    0.0055          0          8.3695        20360401             360           359
    34759     FL        KISSIMMEE                        PUD                               8.875       0.5       0    0.0055          0          8.3695        20360401             360           359
    34759     FL        KISSIMEE                         PUD                               8.875       0.5       0    0.0055          0          8.3695        20360401             360           359
    38118     TN        Memphis                          Single Family                       8.6       0.5       0    0.0055          0          8.0945        20351201             360           355
    40219     KY        Louisville                       Single Family                     9.815       0.5       0    0.0055          0          9.3095        20360501             360           360
    48911     MI        Lansing                          Single Family                      10.6       0.5       0    0.0055          0         10.0945        20360401             360           359
    32839     FL        Orlando                          Single Family                     10.99       0.5       0    0.0055          0         10.4845        20360401             360           359
    32043     FL        Green Cove Springs               PUD                                7.65       0.5       0    0.0055          0          7.1445        20360401             360           359
    43227     OH        Columbus                         Single Family                      7.47       0.5       0    0.0055          0          6.9645        20360401             360           359
    43130     OH        Lancaster                        Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360401             360           359
    43130     OH        Lancaster                        Single Family                      7.34       0.5       0    0.0055          0          6.8345        20360401             360           359
    43081     OH        Westerville                      Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360401             360           359
    43219     OH        Columbus                         PUD                               9.875       0.5       0    0.0055          0          9.3695        20360401             360           359
    23464     VA        Virginia Beach                   PUD                               9.875       0.5       0    0.0055          0          9.3695        20360401             360           359
    46072     IN        Tipton                           Single Family                     10.05       0.5       0    0.0055          0          9.5445        20360401             360           359
    28469     NC        Ocean Isle Beach                 Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    93535     CA        Lancaster                        Single Family                         9       0.5       0    0.0055          0          8.4945        20360101             360           356
    29445     SC        Goose Creek                      Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360101             360           356
    46410     IN        Merrillville                     Single Family                       7.3       0.5       0    0.0055          0          6.7945        20360301             360           358
    45402     OH        Dayton                           Single Family                      10.3       0.5       0    0.0055          0          9.7945        20360301             360           358
    72345     AR        LEPANTO                          Single Family                      8.95       0.5       0    0.0055          0          8.4445        20260201             240           237
    43068     OH        Reynoldsburg                     Single Family                     10.39       0.5       0    0.0055          0          9.8845        20360401             360           359
    48205     MI        Detroit                          2-4 Family                        11.36       0.5       0    0.0055          0         10.8545        20360401             360           359
     6360     CT        Norwich                          Single Family                    10.375       0.5       0    0.0055          0          9.8695        20360401             360           359
    32837     FL        Orlando                          Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360501             360           360
    33785     FL        INDIAN ROCKS BEACH               2-4 Family                          8.5       0.5       0    0.0055          0          7.9945        20360401             360           359
    48206     MI        Detroit                          Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360401             360           359
    32641     FL        Gainesville                      Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360501             360           360
    20744     MD        Fort Washington                  Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360401             360           359
    48322     MI        West Bloomfield                  Single Family                      10.7       0.5       0    0.0055          0         10.1945        20360401             360           359
    46203     IN        Indianapolis                     Single Family                      11.3       0.5       0    0.0055          0         10.7945        20360401             360           359
    46303     IN        Cedar Lake                       Single Family                     10.24       0.5       0    0.0055          0          9.7345        20360401             360           359
    48220     MI        FERNDALE                         Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360101             360           356
    48428     MI        DRYDEN TOWNSHIP                  Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    46617     IN        South Bend                       Single Family                    10.035       0.5       0    0.0055          0          9.5295        20360301             360           358
    46226     IN        Indianapolis                     Single Family                      13.1       0.5       0    0.0055          0         12.5945        20360401             360           359
    46226     IN        Indianapolis                     Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360401             360           359
    46052     IN        Lebanon                          Single Family                      9.49       0.5       0    0.0055          0          8.9845        20360401             360           359
    99212     WA        City Of Spokane Valley           Single Family                      11.5       0.5       0    0.0055          0         10.9945        20260401             240           239
    99212     WA        City Of Spokane Valley           PUD                                8.94       0.5       0    0.0055          0          8.4345        20360401             360           359
    47024     IN        Laurel                           Single Family                    10.775       0.5       0    0.0055          0         10.2695        20360301             360           358
    46205     IN        Indianapolis                     Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360401             360           359
    70460     LA        SLIDELL                          Single Family                      8.75       0.5       0    0.0055          0          8.2445        20351201             360           355
    83201     ID        POCATELLO                        Single Family                     5.875       0.5       0    0.0055          0          5.3695        20351101             360           354
    23223     VA        RICHMOND                         PUD                               9.125       0.5       0    0.0055          0          8.6195        20360401             360           359
    78242     TX        SAN ANTONIO                      Single Family                     11.25       0.5       0    0.0055          0         10.7445        20360401             360           359
    17110     PA        Harrisburg                       Single Family                     13.25       0.5       0    0.0055          0         12.7445        20360401             360           359
    29445     SC        Goose Creek                      PUD                               12.97       0.5       0    0.0055          0         12.4645        20210401             180           179
    29445     SC        Goose Creek                      PUD                                9.24       0.5       0    0.0055          0          8.7345        20360401             360           359
    90746     CA        Carson                           PUD                                9.02       0.5       0    0.0055          0          8.5145        20360401             360           359
    29229     SC        Columbia                         PUD                                9.45       0.5       0    0.0055          0          8.9445        20360401             360           359
    36274     AL        ROANOKE                          Single Family                    10.855       0.5       0    0.0055          0         10.3495        20360401             360           359
    23803     VA        PETERSBURG                       Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360401             360           359
    32119     FL        DAYTONA BEACH                    Single Family                     9.565       0.5       0    0.0055          0          9.0595        20360401             360           359
    30331     GA        ATLANTA                          Single Family                     8.885       0.5       0    0.0055          0          8.3795        20360401             360           359
    27707     NC        DURHAM                           Condominium                      12.065       0.5       0    0.0055          0         11.5595        20360401             360           359
    32818     FL        ORLANDO                          Single Family                    10.155       0.5       0    0.0055          0          9.6495        20360401             360           359
    30126     GA        MABLETON                         Single Family                      9.58       0.5       0    0.0055          0          9.0745        20360401             360           359
    33056     FL        MIAMI GARDENS                    Single Family                     6.745       0.5       0    0.0055          0          6.2395        20360401             360           359
    45426     OH        TROTWOOD                         Single Family                     11.59       0.5       0    0.0055          0         11.0845        20210401             180           179
    45426     OH        TROTWOOD                         Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360401             360           359
    63121     MO        SAINT LOUIS                      Single Family                    11.688       0.5       0    0.0055          0         11.1825        20360401             360           359
    92252     CA        JOSHUA TREE                      Single Family                      9.62       0.5       0    0.0055          0          9.1145        20360401             360           359
    45417     OH        DAYTON                           Single Family                     9.415       0.5       0    0.0055          0          8.9095        20360401             360           359
    43609     OH        TOLEDO                           Single Family                     12.42       0.5       0    0.0055          0         11.9145        20210401             180           179
    43609     OH        TOLEDO                           Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360401             360           359
    63113     MO        SAINT LOUIS                      Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360301             360           358
    21801     MD        SALISBURY                        Single Family                      9.36       0.5       0    0.0055          0          8.8545        20360401             360           359
    30022     GA        ALPHARETTA                       PUD                               9.395       0.5       0    0.0055          0          8.8895        20360301             360           358
    32208     FL        JACKSONVILLE                     Single Family                     9.435       0.5       0    0.0055          0          8.9295        20360301             360           358
    33331     FL        DAVIE                            PUD                                8.94       0.5       0    0.0055          0          8.4345        20360301             360           358
    71104     LA        SHREVEPORT                       2-4 Family                        10.03       0.5       0    0.0055          0          9.5245        20360401             360           359
    30308     GA        ATLANTA                          Single Family                    10.525       0.5       0    0.0055          0         10.0195        20360301             360           358
     6704     CT        WATERBURY                        Condominium                       11.53       0.5       0    0.0055          0         11.0245        20360301             360           358
    33321     FL        TAMARAC                          PUD                                 9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    64130     MO        KANSAS CITY                      Single Family                    10.625       0.5       0    0.0055          0         10.1195        20360301             360           358
    49327     MI        GRANT                            Single Family                     8.835       0.5       0    0.0055          0          8.3295        20360301             360           358
    33305     FL        WILTON MANORS                    Condominium                       10.77       0.5       0    0.0055          0         10.2645        20360301             360           358
    93535     CA        LAKE LOS ANGELE                  Single Family                      8.66       0.5       0    0.0055          0          8.1545        20360401             360           359
    45405     OH        DAYTON                           Single Family                     9.835       0.5       0    0.0055          0          9.3295        20360301             360           358
    20774     MD        SPRINGDALE                       Single Family                    10.065       0.5       0    0.0055          0          9.5595        20360301             360           358
    30236     GA        JONESBORO                        PUD                                9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    30043     GA        LAWRENCEVILLE                    Single Family                      9.64       0.5       0    0.0055          0          9.1345        20360301             360           358
    30060     GA        MARIETTA                         Single Family                     9.455       0.5       0    0.0055          0          8.9495        20360301             360           358
    45406     OH        DAYTON                           Single Family                      9.06       0.5       0    0.0055          0          8.5545        20360301             360           358
    30152     GA        KENNESAW                         Single Family                     9.455       0.5       0    0.0055          0          8.9495        20360301             360           358
    30152     GA        KENNESAW                         Single Family                     9.455       0.5       0    0.0055          0          8.9495        20360301             360           358
    30354     GA        ATLANTA                          Single Family                      8.86       0.5       0    0.0055          0          8.3545        20360301             360           358
    30458     GA        STATESBORO                       Single Family                    10.275       0.5       0    0.0055          0          9.7695        20360301             360           358
    30630     GA        CRAWFORD                         Single Family                     8.485       0.5       0    0.0055          0          7.9795        20360301             360           358
    20748     MD        TEMPLE HILLS                     Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    30281     GA        STOCKBRIDGE                      Single Family                    10.585       0.5       0    0.0055          0         10.0795        20360301             360           358
    30601     GA        ATHENS                           2-4 Family                       11.405       0.5       0    0.0055          0         10.8995        20360301             360           358
    20705     MD        BELTSVILLE                       PUD                              12.545       0.5       0    0.0055          0         12.0395        20210201             180           177
    36054     AL        MILLBROOK                        Single Family                    10.125       0.5       0    0.0055          0          9.6195        20360301             360           358
    78244     TX        SAN ANTONIO                      Single Family                     9.485       0.5       0    0.0055          0          8.9795        20360201             360           357
    78244     TX        SAN ANTONIO                      Single Family                     9.485       0.5       0    0.0055          0          8.9795        20360201             360           357
    71101     LA        SHREVEPORT                       2-4 Family                       10.035       0.5       0    0.0055          0          9.5295        20360201             360           357
    34473     FL        OCALA                            Single Family                      9.44       0.5       0    0.0055          0          8.9345        20360401             360           359
    78250     TX        SAN ANTONIO                      PUD                                9.66       0.5       0    0.0055          0          9.1545        20360201             360           357
    35810     AL        HUNTSVILLE                       Single Family                      9.03       0.5       0    0.0055          0          8.5245        20360301             360           358
    30281     GA        STOCKBRIDGE                      Single Family                     9.175       0.5       0    0.0055          0          8.6695        20360301             360           358
    60156     IL        LAKE IN THE HIL                  Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360201             360           357
    21040     MD        EDGEWOOD                         PUD                                8.75       0.5       0    0.0055          0          8.2445        20360101             360           356
    77053     TX        HOUSTON                          PUD                              10.625       0.5       0    0.0055          0         10.1195        20360201             360           357
    33178     FL        MEDLEY                           PUD                               8.875       0.5       0    0.0055          0          8.3695        20360101             360           356
    30034     GA        DECATUR                          Single Family                     7.125       0.5       0    0.0055          0          6.6195        20360101             360           356
    20746     MD        SUITLAND                         PUD                               9.375       0.5       0    0.0055          0          8.8695        20360101             360           356
    43351     OH        UPPER SANDUSKY                   Single Family                         9       0.5       0    0.0055          0          8.4945        20360101             360           356
    30127     GA        POWDER SPRINGS                   PUD                                 9.5       0.5       0    0.0055          0          8.9945        20351201             360           355
    42129     KY        EDMONTON                         Single Family                       9.3       0.5       0    0.0055          0          8.7945        20360101             360           356
    31801     GA        BOX SPRINGS                      Single Family                    10.625       0.5       0    0.0055          0         10.1195        20351201             360           355
    30013     GA        CONYERS                          Single Family                      9.25       0.5       0    0.0055          0          8.7445        20351201             360           355
    27954     NC        MANTEO                           Condominium                       9.535       0.5       0    0.0055          0          9.0295        20360201             360           357
    46323     IN        HAMMOND                          Single Family                      9.75       0.5       0    0.0055          0          9.2445        20351101             360           354
    48458     MI        Mount Morris                     Single Family                     11.21       0.5       0    0.0055          0         10.7045        20360401             360           359
    86401     AZ        Kingman                          Single Family                      9.29       0.5       0    0.0055          0          8.7845        20360401             360           359
    85226     AZ        Chandler                         Single Family                     7.815       0.5       0    0.0055          0          7.3095        20360401             360           359
    22712     VA        Bealeton                         PUD                                7.84       0.5       0    0.0055          0          7.3345        20360401             360           359
    45044     OH        Middletown                       Single Family                      8.85       0.5       0    0.0055          0          8.3445        20351201             360           355
     7631     NJ        Englewood                        Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360401             360           359
    93304     CA        Bakersfield                      Single Family                     8.475       0.5       0    0.0055          0          7.9695        20360401             360           359
    23505     VA        Norfolk                          Single Family                    11.625       0.5       0    0.0055          0         11.1195        20210401             180           179
    23505     VA        Norfolk                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360401             360           359
    63109     MO        Saint Louis                      Single Family                      9.55       0.5       0    0.0055          0          9.0445        20360301             360           358
    55412     MN        Minneapolis                      Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360501             360           360
    33615     FL        Tampa                            Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360401             360           359
    98632     WA        Longview                         Single Family                     9.375       0.5       0    0.0055          0          8.8695        20360301             360           358
     2914     RI        East Providence                  Single Family                     8.625       0.5       0    0.0055          0          8.1195        20360301             360           358
    95820     CA        Sacramento                       Single Family                      7.98       0.5       0    0.0055          0          7.4745        20360401             360           359
    33844     FL        Haines City                      Single Family                     12.42       0.5       0    0.0055          0         11.9145        20360401             360           359
    33844     FL        Haines City                      Single Family                      8.04       0.5       0    0.0055          0          7.5345        20360401             360           359
    89148     NV        Las Vegas                        Single Family                      8.05       0.5       0    0.0055          0          7.5445        20360401             360           359
    85304     AZ        Glendale                         Single Family                     7.475       0.5       0    0.0055          0          6.9695        20360401             360           359
    95682     CA        Shingle Springs                  Condominium                      11.125       0.5       0    0.0055          0         10.6195        20360401             360           359
    22630     VA        Front Royal                      PUD                               8.375       0.5       0    0.0055          0          7.8695        20360401             360           359
    22602     VA        Winchester                       PUD                                7.75       0.5       0    0.0055          0          7.2445        20360401             360           359
    85302     AZ        GLENDALE                         Single Family                     11.38       0.5       0    0.0055          0         10.8745        20360401             360           359
    45240     OH        Cincinnati                       Single Family                     10.89       0.5       0    0.0055          0         10.3845        20360401             360           359
    33024     FL        Hollywood                        Single Family                      10.5       0.5       0    0.0055          0          9.9945        20360401             360           359
    46410     IN        Merrillville                     Condominium                        8.75       0.5       0    0.0055          0          8.2445        20360401             360           359
    22406     VA        Fredericksbrg                    Townhouse                         10.25       0.5       0    0.0055          0          9.7445        20360401             360           359
    32257     FL        Jacksonville                     Townhouse                         8.375       0.5       0    0.0055          0          7.8695        20360401             360           359
    36303     AL        DOTHAN                           Single Family                     9.825       0.5       0    0.0055          0          9.3195        20350901             360           352
    33167     FL        Miami                            Single Family                       9.3       0.5       0    0.0055          0          8.7945        20360401             360           359
    46060     IN        Noblesville                      PUD                                 8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    43205     OH        Columbus                         Single Family                      8.81       0.5       0    0.0055          0          8.3045        20360401             360           359
    37302     TN        Apison                           Single Family                     9.845       0.5       0    0.0055          0          9.3395        20360401             360           359
    30288     GA        Conley                           Single Family                     7.875       0.5       0    0.0055          0          7.3695        20360101             360           356
    45356     OH        Piqua                            Single Family                    11.625       0.5       0    0.0055          0         11.1195        20360401             360           359
    43203     OH        Columbus                         2-4 Family                         8.81       0.5       0    0.0055          0          8.3045        20360401             360           359
    19344     PA        Honey Brook                      PUD                                 8.6       0.5       0    0.0055          0          8.0945        20360401             360           359
     8081     NJ        Sicklerville                     Single Family                     11.56       0.5       0    0.0055          0         11.0545        20360401             360           359
     2886     RI        Warwick                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360401             360           359
    78228     TX        SAN ANTONIO                      Single Family                      10.6       0.5       0    0.0055          0         10.0945        20360301             360           358
    46203     IN        Indianapolis                     Single Family                      11.3       0.5       0    0.0055          0         10.7945        20360401             360           359
    22172     VA        Triangle                         PUD                                9.25       0.5       0    0.0055          0          8.7445        20360401             360           359
    91766     CA        Pomona                           Single Family                      8.84       0.5       0    0.0055          0          8.3345        20360401             360           359
    28677     NC        Statesville                      Single Family                      10.7       0.5       0    0.0055          0         10.1945        20360401             360           359
    75965     TX        Nacogdoches                      Single Family                     11.95       0.5       0    0.0055          0         11.4445        20210201             180           177
    75965     TX        Nacogdoches                      Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    95758     CA        Elk Grove                        Single Family                     12.78       0.5       0    0.0055          0         12.2745        20260401             240           239
    95758     CA        Elk Grove                        Single Family                     10.27       0.5       0    0.0055          0          9.7645        20360401             360           359
    29323     SC        Chesnee                          Single Family                     11.82       0.5       0    0.0055          0         11.3145        20360401             360           359
    78260     TX        San Antonio                      PUD                                10.5       0.5       0    0.0055          0          9.9945        20360401             360           359
    33063     FL        Pompano Beach                    Single Family                      8.53       0.5       0    0.0055          0          8.0245        20360401             360           359
    30540     GA        Ellijay                          Single Family                      8.94       0.5       0    0.0055          0          8.4345        20360401             360           359
    29680     SC        Simpsonville                     Single Family                      11.1       0.5       0    0.0055          0         10.5945        20360301             360           358
    78641     TX        Leander                          PUD                              13.625       0.5       0    0.0055          0         13.1195        20210301             180           178
    48206     MI        Detroit                          2-4 Family                       10.328       0.5       0    0.0055          0          9.8225        20360401             360           359
    78641     TX        Leander                          PUD                                8.85       0.5       0    0.0055          0          8.3445        20360301             360           358
    60120     IL        Elgin                            Single Family                    10.125       0.5       0    0.0055          0          9.6195        20360401             360           359
    40214     KY        Louisville                       Single Family                     11.85       0.5       0    0.0055          0         11.3445        20360401             360           359
    77092     TX        Houston                          PUD                                  11       0.5       0    0.0055          0         10.4945        20360301             360           358
    64055     MO        Independence                     Townhouse                            11       0.5       0    0.0055          0         10.4945        20360401             360           359
    48205     MI        Detroit                          Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360401             360           359
    48075     MI        Southfield                       Single Family                     10.45       0.5       0    0.0055          0          9.9445        20360101             360           356
    78227     TX        San Antonio                      Single Family                      9.99       0.5       0    0.0055          0          9.4845        20260201             240           237
    78227     TX        San Antonio                      Single Family                     10.75       0.5       0    0.0055          0         10.2445        20360201             360           357
    22204     VA        Arlington                        Condominium                       9.875       0.5       0    0.0055          0          9.3695        20360401             360           359
    85029     AZ        Phoenix                          Single Family                      7.47       0.5       0    0.0055          0          6.9645        20360401             360           359
    33901     FL        Fort Myers                       CO-OP                              8.35       0.5       0    0.0055          0          7.8445        20360401             360           359
    61231     IL        Aledo                            Single Family                      9.19       0.5       0    0.0055          0          8.6845        20360401             360           359
    19129     PA        Philadelphia                     2-4 Family                         8.18       0.5       0    0.0055          0          7.6745        20360401             360           359
    17110     PA        Harrisburg                       Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360401             360           359
    94509     CA        Antioch                          Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360401             360           359
    23513     VA        Norfolk                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360401             360           359
    30088     GA        Stone Mountain                   Single Family                     10.85       0.5       0    0.0055          0         10.3445        20360301             360           358
    32725     FL        Deltona                          Single Family                      8.47       0.5       0    0.0055          0          7.9645        20360401             360           359
    63135     MO        Saint Louis                      Single Family                     8.565       0.5       0    0.0055          0          8.0595        20360401             360           359
    55404     MN        MINNEAPOLIS                      Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    98422     WA        TACOMA                           PUD                               7.825       0.5       0    0.0055          0          7.3195        20360301             360           358
    97304     OR        SALEM                            Single Family                     12.75       0.5       0    0.0055          0         12.2445        20210301             180           178
    97304     OR        SALEM                            Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    33322     FL        SUNRISE                          Condominium                        8.75       0.5       0    0.0055          0          8.2445        20360401             360           359
    29302     SC        SPARTENBURG                      Single Family                    10.875       0.5       0    0.0055          0         10.3695        20360301             360           358
    81525     CO        MACK                             Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    91762     CA        ONTARIO                          Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360201             360           357
    90037     CA        LOS ANGELES                      Single Family                     8.725       0.5       0    0.0055          0          8.2195        20360301             360           358
    92545     CA        HEMET                            Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    84020     UT        DRAPER                           Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    92553     CA        MORENO VALLEY                    Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360201             360           357
    92114     CA        SAN DIEGO                        Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
    85017     AZ        PHOENIX                          Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360201             360           357
    93722     CA        FRESNO                           Single Family                         7       0.5       0    0.0055          0          6.4945        20360201             360           357
    85225     AZ        CHANDLER                         Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    85033     AZ        PHOENIX                          PUD                                7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    90640     CA        MONTEBELLO                       Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360201             360           357
    32333     FL        HAVANA                           Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360201             360           357
    89134     NV        LAS VEGAS                        PUD                                9.99       0.5       0    0.0055          0          9.4845        20360101             360           356
    89146     NV        LAS VEGAS                        Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    89123     NV        LAS VEGAS                        PUD                                 8.4       0.5       0    0.0055          0          7.8945        20360301             360           358
    89142     NV        LAS VEGAS                        Single Family                      6.45       0.5       0    0.0055          0          5.9445        20351101             360           354
    90062     CA        LOS ANGELES                      Single Family                       6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    91324     CA        (NORTHRIDGE ARE                  Single Family                       6.7       0.5       0    0.0055          0          6.1945        20351201             360           355
    90746     CA        CARSON                           Single Family                      7.99       0.5       0    0.0055          0          7.4845        20351201             360           355
    90808     CA        LONG BEACH                       Single Family                      6.49       0.5       0    0.0055          0          5.9845        20351201             360           355
    92392     CA        VICTORVILLE                      Single Family                      9.75       0.5       0    0.0055          0          9.2445        20351201             360           355
    90044     CA        LOS ANGELES                      Single Family                      7.85       0.5       0    0.0055          0          7.3445        20351201             360           355
    90061     CA        LOS ANGELES                      2-4 Family                         8.55       0.5       0    0.0055          0          8.0445        20351201             360           355
    90638     CA        LA MIRADA                        Single Family                       6.3       0.5       0    0.0055          0          5.7945        20350901             360           352
    90045     CA        LOS ANGELES                      Single Family                       5.5       0.5       0    0.0055          0          4.9945        20350801             360           351
    90241     CA        DOWNEY                           Single Family                     6.125       0.5       0    0.0055          0          5.6195        20350701             360           350
    59105     MT        BILLINGS                         Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    98516     WA        OLYMPIA                          Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360301             360           358
    99005     WA        COLBERT                          Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
    59803     MT        MISSOULA                         2-4 Family                          8.1       0.5       0    0.0055          0          7.5945        20360301             360           358
    83642     ID        MERIDIAN                         PUD                                 9.5       0.5       0    0.0055          0          8.9945        20360201             360           357
    98270     WA        MARYSVILLE                       Single Family                      10.1       0.5       0    0.0055          0          9.5945        20360201             360           357
    59865     MT        SAINT IGNATIUS                   Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360201             360           357
    98374     WA        PUYALLUP                         Single Family                      8.15       0.5       0    0.0055          0          7.6445        20351101             360           354
    98271     WA        MARYSVILLE                       Single Family                     7.875       0.5       0    0.0055          0          7.3695        20350801             360           351
    83634     ID        KUNA                             PUD                                8.75       0.5       0    0.0055          0          8.2445        20350801             360           351
    99207     WA        SPOKANE                          Single Family                      7.25       0.5       0    0.0055          0          6.7445        20350601             360           349
    97233     OR        PORTLAND                         Single Family                       7.3       0.5       0    0.0055          0          6.7945        20360301             360           358
    50320     IA        DES MOINES                       Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    62294     IL        TROY                             Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360301             360           358
    65274     MO        NEW FRANKLIN                     Single Family                      10.5       0.5       0    0.0055          0          9.9945        20360301             360           358
    68112     NE        OMAHA                            Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360301             360           358
    51521     IA        AVOCA                            Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360301             360           358
    63010     MO        ARNOLD                           Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    63846     MO        ESSEX                            Single Family                         9       0.5       0    0.0055          0          8.4945        20360301             360           358
    67735     KS        GOODLAND                         Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360201             360           357
    67216     KS        WICHITA                          Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    68467     NE        YORK                             Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360301             360           358
    67005     KS        ARKANSAS CITY                    Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360301             360           358
    64504     MO        SAINT JOSEPH                     Single Family                     11.09       0.5       0    0.0055          0         10.5845        20360201             360           357
    66202     KS        MISSION                          Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360201             360           357
    63123     MO        ST. LOUIS                        Single Family                      8.85       0.5       0    0.0055          0          8.3445        20360201             360           357
    50702     IA        WATERLOO                         Single Family                      9.65       0.5       0    0.0055          0          9.1445        20360201             360           357
    52402     IA        CEDAR RAPIDS                     Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360201             360           357
    63118     MO        ST. LOUIS                        2-4 Family                          8.8       0.5       0    0.0055          0          8.2945        20351201             360           355
    63121     MO        SAINT LOUIS                      Single Family                     10.25       0.5       0    0.0055          0          9.7445        20351101             360           354
    64130     MO        KANSAS CITY                      Single Family                      8.95       0.5       0    0.0055          0          8.4445        20351201             360           355
    64130     MO        KANSAS CITY                      Single Family                      8.95       0.5       0    0.0055          0          8.4445        20351201             360           355
    50440     IA        GRAFTON                          Single Family                      8.57       0.5       0    0.0055          0          8.0645        20351201             360           355
    68137     NE        OMAHA                            Single Family                       9.5       0.5       0    0.0055          0          8.9945        20351101             360           354
    50472     IA        ST. ANSGAR                       Single Family                       8.3       0.5       0    0.0055          0          7.7945        20351201             360           355
    63112     MO        ST. LOUIS                        Single Family                      7.99       0.5       0    0.0055          0          7.4845        20350801             360           351
    64109     MO        KANSAS CITY                      Single Family                     5.975       0.5       0    0.0055          0          5.4695        20350801             360           351
    64110     MO        KANSAS CITY                      Single Family                      9.24       0.5       0    0.0055          0          8.7345        20350901             360           352
    66102     KS        KANSAS CITY                      Single Family                      8.99       0.5       0    0.0055          0          8.4845        20350601             360           349
    63107     MO        SAINT LOUIS                      2-4 Family                         8.25       0.5       0    0.0055          0          7.7445        20350601             360           349
    85044     AZ        PHOENIX                          Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    81223     CO        COTOPAXI                         Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360301             360           358
    85032     AZ        PHOENIX                          Single Family                       9.7       0.5       0    0.0055          0          9.1945        20351201             360           355
    85259     AZ        SCOTTSDALE                       Condominium                        6.25       0.5       0    0.0055          0          5.7445        20351201             360           355
    85040     AZ        PHOENIX                          Single Family                     10.55       0.5       0    0.0055          0         10.0445        20351001             360           353
    85323     AZ        AVONDALE                         PUD                                8.45       0.5       0    0.0055          0          7.9445        20351101             360           354
    85053     AZ        PHOENIX                          Single Family                       9.5       0.5       0    0.0055          0          8.9945        20350801             360           351
    85239     AZ        MARICOPA                         PUD                                9.65       0.5       0    0.0055          0          9.1445        20350901             360           352
    86326     AZ        COTTONWOOD                       PUD                                5.75       0.5       0    0.0055          0          5.2445        20350701             360           350
    85239     AZ        MARICOPA                         PUD                                5.95       0.5       0    0.0055          0          5.4445        20350701             360           350
    84044     UT        MAGNA                            Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    80021     CO        BROOMFIELD                       Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    80122     CO        LITTLETON                        Single Family                       6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    80102     CO        BENNETT                          Single Family                      6.25       0.5       0    0.0055          0          5.7445        20360301             360           358
    80403     CO        GOLDEN                           Single Family                       6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    80465     CO        MORRISON                         Single Family                       6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    90810     CA        LONG BEACH                       Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
    80211     CO        DENVER                           Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
    84120     UT        SALT LAKE CITY                   Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360301             360           358
    33172     FL        MIAMI                            Condominium                        8.75       0.5       0    0.0055          0          8.2445        20360301             360           358
    80526     CO        FORT COLLINS                     PUD                                7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    81089     CO        WALSENBURG                       Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    80534     CO        MILLIKEN                         PUD                                 8.9       0.5       0    0.0055          0          8.3945        20360101             360           356
    80221     CO        DENVER                           Single Family                      5.99       0.5       0    0.0055          0          5.4845        20350901             360           352
    80214     CO        EDGEWATER                        2-4 Family                         8.65       0.5       0    0.0055          0          8.1445        20350801             360           351
    92116     CA        SAN DIEGO                        Condominium                         6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    91915     CA        CHULA VISTA                      Condominium                         7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
    92083     CA        VISTA                            PUD                                7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    85742     AZ        TUCSON                           Single Family                     10.89       0.5       0    0.0055          0         10.3845        20360301             360           358
    92139     CA        SAN DIEGO                        PUD                                6.65       0.5       0    0.0055          0          6.1445        20360301             360           358
    93651     CA        PRATHER                          Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    92024     CA        ENCINITAS                        Single Family                       8.1       0.5       0    0.0055          0          7.5945        20360301             360           358
    93610     CA        CHOWCHILLA                       Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    92562     CA        MURRIETA                         Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360101             360           356
    95991     CA        YUBA CITY                        Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360101             360           356
    92308     CA        APPLE VALLEY                     Single Family                      8.35       0.5       0    0.0055          0          7.8445        20351101             360           354
    93906     CA        SALINAS                          Single Family                       5.8       0.5       0    0.0055          0          5.2945        20351101             360           354
    60647     IL        CHICAGO                          2-4 Family                         6.99       0.5       0    0.0055          0          6.4845        20351001             360           353
    95670     CA        RANCHO CORDOVA                   Single Family                       7.7       0.5       0    0.0055          0          7.1945        20351001             360           353
    95111     CA        SAN JOSE                         Single Family                     6.875       0.5       0    0.0055          0          6.3695        20351101             360           354
    93703     CA        FRESNO                           Single Family                      6.05       0.5       0    0.0055          0          5.5445        20351001             360           353
    95212     CA        STOCKTON                         Single Family                       5.7       0.5       0    0.0055          0          5.1945        20351001             360           353
    92109     CA        SAN DIEGO                        Condominium                       6.125       0.5       0    0.0055          0          5.6195        20350901             360           352
    94566     CA        PLEASANTON                       Single Family                      6.25       0.5       0    0.0055          0          5.7445        20350901             360           352
    91351     CA        CANYON COUNTRY                   PUD                                6.05       0.5       0    0.0055          0          5.5445        20350901             360           352
    92114     CA        SAN DIEGO                        Single Family                      5.95       0.5       0    0.0055          0          5.4445        20350901             360           352
    93612     CA        CLOVIS                           Single Family                       6.3       0.5       0    0.0055          0          5.7945        20351101             360           354
    92021     CA        EL CAJON                         Condominium                        5.85       0.5       0    0.0055          0          5.3445        20350901             360           352
    93309     CA        BAKERSFIELD                      Single Family                      5.99       0.5       0    0.0055          0          5.4845        20350901             360           352
    93635     CA        LOS BANOS                        Single Family                      9.75       0.5       0    0.0055          0          9.2445        20351001             360           353
    93705     CA        FRESNO                           Single Family                      6.04       0.5       0    0.0055          0          5.5345        20350801             360           351
    95122     CA        SAN JOSE                         Single Family                      5.85       0.5       0    0.0055          0          5.3445        20350801             360           351
    92101     CA        SAN DIEGO                        Condominium                        9.25       0.5       0    0.0055          0          8.7445        20350701             360           350
    92586     CA        SUN CITY                         PUD                                5.75       0.5       0    0.0055          0          5.2445        20350701             360           350
    92065     CA        RAMONA                           PUD                                 5.4       0.5       0    0.0055          0          4.8945        20350701             360           350
    92503     CA        RIVERSIDE                        Single Family                      6.15       0.5       0    0.0055          0          5.6445        20350601             360           349
    71033     LA        GREENWOOD                        Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360301             360           358
    34222     FL        ELLENTON                         PUD                                9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    98271     WA        MARYSVILLE                       Single Family                         9       0.5       0    0.0055          0          8.4945        20360301             360           358
    74601     OK        PONCA CITY                       Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360301             360           358
    67206     KS        WICHITA                          Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360301             360           358
    50273     IA        WINTERSET                        Single Family                        10       0.5       0    0.0055          0          9.4945        20360301             360           358
    64064     MO        LEE'S SUMMIT                     PUD                                7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    66102     KS        KANSAS CITY                      Single Family                     10.35       0.5       0    0.0055          0          9.8445        20360301             360           358
    66762     KS        PITTSBURG                        Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360301             360           358
    50438     IA        GARNER                           Single Family                      10.9       0.5       0    0.0055          0         10.3945        20360301             360           358
    63851     MO        HAYTI                            Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360301             360           358
    72903     AR        FORT SMITH                       Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    50112     IA        GRINNELL                         Single Family                        11       0.5       0    0.0055          0         10.4945        20360301             360           358
    75569     TX        NASH                             Single Family                      10.5       0.5       0    0.0055          0          9.9945        20360301             360           358
    72401     AR        JONESBORO                        Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    50401     IA        MASON CITY                       Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360301             360           358
    50167     IA        MINBURN                          Single Family                      11.2       0.5       0    0.0055          0         10.6945        20360301             360           358
    65786     MO        MACKS CREEK                      Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360201             360           357
    41005     KY        BURLINGTON                       Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360201             360           357
    97305     OR        SALEM                            Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
    74070     OK        SKIATOOK                         PUD                                9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    33021     FL        HOLLYWOOD                        Condominium                       7.875       0.5       0    0.0055          0          7.3695        20360101             360           356
    75020     TX        DENISON                          Single Family                      11.1       0.5       0    0.0055          0         10.5945        20360101             360           356
    50242     IA        SEARSBORO                        Single Family                      11.1       0.5       0    0.0055          0         10.5945        20360201             360           357
    61071     IL        ROCK FALLS                       Single Family                     10.35       0.5       0    0.0055          0          9.8445        20360101             360           356
    95965     CA        OROVILLE                         Single Family                      10.3       0.5       0    0.0055          0          9.7945        20360101             360           356
    76116     TX        FORT WORTH                       Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360101             360           356
    67460     KS        MCPHERSON                        Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360101             360           356
    63010     MO        ARNOLD                           PUD                                 9.4       0.5       0    0.0055          0          8.8945        20351201             360           355
    52748     IA        ELDRIDGE                         Single Family                      9.95       0.5       0    0.0055          0          9.4445        20351201             360           355
    64132     MO        KANSAS CITY                      Single Family                       8.7       0.5       0    0.0055          0          8.1945        20351101             360           354
    98532     WA        CHEHALIS                         Single Family                      8.99       0.5       0    0.0055          0          8.4845        20351101             360           354
    74954     OK        ROLAND                           Single Family                      9.45       0.5       0    0.0055          0          8.9445        20350901             360           352
    98003     WA        FEDERAL WAY                      Condominium                        7.65       0.5       0    0.0055          0          7.1445        20350801             360           351
    67016     KS        BENTLEY                          Single Family                       9.1       0.5       0    0.0055          0          8.5945        20350801             360           351
    72644     AR        LEAD HILL                        Single Family                       9.7       0.5       0    0.0055          0          9.1945        20350701             360           350
    85032     AZ        PHOENIX                          Single Family                       8.5       0.5       0    0.0055          0          7.9945        20350701             360           350
    63701     MO        CAPE GIRARDEAU                   Single Family                       9.3       0.5       0    0.0055          0          8.7945        20350601             360           349
    75048     TX        SACHSE                           Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360301             360           358
    76137     TX        FORT WORTH                       Single Family                       6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    75088     TX        ROWLETT                          Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    75189     TX        ROYSE CITY                       Single Family                         9       0.5       0    0.0055          0          8.4945        20360301             360           358
    37716     TN        CLINTON                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    67401     KS        SALINA                           Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360301             360           358
    38109     TN        MEMPHIS                          Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360301             360           358
    75062     TX        IRVING                           Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360401             360           359
    76201     TX        DENTON                           Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360301             360           358
    37207     TN        NASHVILLE                        Single Family                       6.8       0.5       0    0.0055          0          6.2945        20360301             360           358
    37920     TN        KNOXVILLE                        Single Family                        10       0.5       0    0.0055          0          9.4945        20360301             360           358
    76137     TX        FORT WORTH                       Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    78219     TX        SAN ANTONIO                      Single Family                      8.65       0.5       0    0.0055          0          8.1445        20360301             360           358
    71270     LA        RUSTON                           Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360301             360           358
    37721     TN        CORRYTON                         Single Family                      10.5       0.5       0    0.0055          0          9.9945        20360201             360           357
    75088     TX        ROWLETT                          Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360201             360           357
    39046     MS        CANTON                           Single Family                      10.1       0.5       0    0.0055          0          9.5945        20360301             360           358
    70392     LA        PATTERSON                        Single Family                      9.65       0.5       0    0.0055          0          9.1445        20351201             360           355
    75219     TX        DALLAS                           Condominium                        7.25       0.5       0    0.0055          0          6.7445        20351201             360           355
    75209     TX        DALLAS                           PUD                                8.55       0.5       0    0.0055          0          8.0445        20351101             360           354
    78208     TX        SAN ANTONIO                      2-4 Family                         8.85       0.5       0    0.0055          0          8.3445        20350901             360           352
    38829     MS        BOONEVILLE                       Single Family                       8.5       0.5       0    0.0055          0          7.9945        20350801             360           351
    37923     TN        KNOXVILLE                        Single Family                      7.65       0.5       0    0.0055          0          7.1445        20350801             360           351
    39503     MS        GULFPORT                         Single Family                       7.9       0.5       0    0.0055          0          7.3945        20350801             360           351
    74128     OK        TULSA                            Single Family                      9.99       0.5       0    0.0055          0          9.4845        20350701             360           350
    77338     TX        HUMBLE                           PUD                                 8.2       0.5       0    0.0055          0          7.6945        20360401             360           359
    77662     TX        VIDOR                            Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    77373     TX        SPRING                           PUD                                9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
    77433     TX        CYPRESS                          PUD                                 6.7       0.5       0    0.0055          0          6.1945        20360301             360           358
    29456     SC        LADSON                           Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    76549     TX        KILLEEN                          Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360301             360           358
    78559     TX        LA FERIA                         PUD                                8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    75979     TX        WOODVILLE                        Single Family                         9       0.5       0    0.0055          0          8.4945        20360301             360           358
    77015     TX        HOUSTON                          PUD                                9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    78521     TX        BROWNSVILLE                      Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    78526     TX        BROWNSVILLE                      PUD                                9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    78539     TX        EDINBURG                         Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    78550     TX        HARLINGEN                        Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360201             360           357
    77318     TX        WILLIS                           PUD                                 9.4       0.5       0    0.0055          0          8.8945        20360201             360           357
    77063     TX        HOUSTON                          Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360301             360           358
    77520     TX        BAYTOWN                          Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360201             360           357
    77494     TX        KATY                             PUD                                 8.9       0.5       0    0.0055          0          8.3945        20360101             360           356
    72118     AR        NORTH LITTLE RO                  Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360101             360           356
    44354     TX        MAGNOLIA                         Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360201             360           357
    77449     TX        KATY                             PUD                                 9.6       0.5       0    0.0055          0          9.0945        20360101             360           356
    32446     FL        MARIANNA                         Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360101             360           356
    77479     TX        SUGAR LAND                       PUD                                 9.1       0.5       0    0.0055          0          8.5945        20360101             360           356
    70420     LA        ABITA SPRINGS                    Single Family                       9.7       0.5       0    0.0055          0          9.1945        20351201             360           355
    77373     TX        SPRING                           PUD                                8.65       0.5       0    0.0055          0          8.1445        20351201             360           355
    77067     TX        HOUSTON                          PUD                                8.75       0.5       0    0.0055          0          8.2445        20351101             360           354
    78229     TX        SAN ANTONIO                      Condominium                        9.45       0.5       0    0.0055          0          8.9445        20351101             360           354
    77084     TX        HOUSTON                          Single Family                       8.5       0.5       0    0.0055          0          7.9945        20350801             360           351
    64742     MO        DREXEL                           Single Family                     10.15       0.5       0    0.0055          0          9.6445        20360201             360           357
    75216     TX        DALLAS                           Single Family                       9.4       0.5       0    0.0055          0          8.8945        20351101             360           354
    75216     TX        DALLAS                           Single Family                       9.4       0.5       0    0.0055          0          8.8945        20351101             360           354
    33705     FL        SAINT PETERSBUR                  Single Family                       6.8       0.5       0    0.0055          0          6.2945        20360301             360           358
    33025     FL        PEMBROOKE PINES                  PUD                                8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    33312     FL        FORT LAUDERDALE                  Single Family                       9.2       0.5       0    0.0055          0          8.6945        20360301             360           358
    33563     FL        PLANT CITY                       Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    33604     FL        TAMPA                            Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360101             360           356
    34746     FL        KISSIMMEE                        Condominium                        8.75       0.5       0    0.0055          0          8.2445        20351201             360           355
    33755     FL        CLEARWATER                       Single Family                      8.95       0.5       0    0.0055          0          8.4445        20351201             360           355
    33067     FL        PARKLAND                         PUD                                 6.1       0.5       0    0.0055          0          5.5945        20350801             360           351
    33309     FL        OAKLAND PARK                     Condominium                        7.95       0.5       0    0.0055          0          7.4445        20350701             360           350
    32809     FL        ORLANDO                          Condominium                         9.2       0.5       0    0.0055          0          8.6945        20350701             360           350
    33311     FL        FORT LAUDERDALE                  2-4 Family                         8.35       0.5       0    0.0055          0          7.8445        20350601             360           349
    30052     GA        LOGANVILLE                       PUD                                 6.9       0.5       0    0.0055          0          6.3945        20360401             360           359
    28570     NC        NEWPORT                          Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    31750     GA        FITZGERALD                       Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360301             360           358
    30094     GA        CONYERS                          Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
    27105     NC        WINSTON SALEM                    Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360301             360           358
    30038     GA        LITHONIA                         PUD                                8.65       0.5       0    0.0055          0          8.1445        20360301             360           358
    31030     GA        FORT VALLEY                      Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    27106     NC        WINSTON SALEM                    Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    38109     TN        MEMPHIS                          PUD                                 8.8       0.5       0    0.0055          0          8.2945        20360201             360           357
    30035     GA        DECATUR                          Single Family                       9.3       0.5       0    0.0055          0          8.7945        20360201             360           357
    31217     GA        MACON                            Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360301             360           358
    31510     GA        ALMA                             Single Family                     10.15       0.5       0    0.0055          0          9.6445        20360201             360           357
    30354     GA        ATLANTA                          Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360201             360           357
    30175     GA        TALKING ROCK                     Single Family                      9.65       0.5       0    0.0055          0          9.1445        20360201             360           357
    31535     GA        DOUGLAS                          Single Family                      8.55       0.5       0    0.0055          0          8.0445        20210101             180           176
    28073     NC        GROVER                           Single Family                      8.85       0.5       0    0.0055          0          8.3445        20360101             360           356
    28081     NC        KANNAPOLIS                       PUD                                9.86       0.5       0    0.0055          0          9.3545        20360101             360           356
    30087     GA        STONE MOUNTAIN                   PUD                                8.85       0.5       0    0.0055          0          8.3445        20360101             360           356
    30058     GA        LITHONIA                         Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360101             360           356
    30108     GA        BOWDON                           Single Family                         9       0.5       0    0.0055          0          8.4945        20351201             360           355
    29115     SC        ORANGEBURG                       Single Family                      6.05       0.5       0    0.0055          0          5.5445        20350901             360           352
    30349     GA        COLLEGE PARK                     Single Family                      8.65       0.5       0    0.0055          0          8.1445        20350901             360           352
    30294     GA        ELLENWOOD                        PUD                                5.95       0.5       0    0.0055          0          5.4445        20350901             360           352
    30296     GA        RIVERDALE                        Single Family                       7.8       0.5       0    0.0055          0          7.2945        20350801             360           351
    30088     GA        STONE MOUNTAIN                   Single Family                      6.45       0.5       0    0.0055          0          5.9445        20350701             360           350
    30296     GA        RIVERDALE                        Single Family                      7.99       0.5       0    0.0055          0          7.4845        20350601             360           349
     1752     MA        MARLBOROUGH                      Single Family                      7.29       0.5       0    0.0055          0          6.7845        20360301             360           358
     2301     MA        BROCKTON                         Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
     7052     NJ        WEST ORANGE                      Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
     3801     NH        PORTSMOUTH                       Single Family                       8.6       0.5       0    0.0055          0          8.0945        20351201             360           355
     7205     NJ        HILLSIDE                         Single Family                      6.65       0.5       0    0.0055          0          6.1445        20351201             360           355
     4496     ME        WINTERPORT                       Single Family                      6.99       0.5       0    0.0055          0          6.4845        20351001             360           353
    60104     IL        BELLWOOD                         Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360301             360           358
    48342     MI        PONTIAC                          Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360401             360           359
    60087     IL        BEACH PARK                       Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    48235     MI        DETROIT                          Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360301             360           358
    48198     MI        YPSILANTI                        Single Family                      9.09       0.5       0    0.0055          0          8.5845        20360301             360           358
    60047     IL        LAKE ZURICH                      Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360301             360           358
    60505     IL        AURORA                           Condominium                         9.2       0.5       0    0.0055          0          8.6945        20360301             360           358
    61350     IL        OTTAWA                           Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    60134     IL        GENEVA                           Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    60409     IL        CALUMET CITY                     Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360401             360           359
    60441     IL        LOCKPORT                         Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360201             360           357
    55043     MN        LAKELAND                         Single Family                      9.49       0.5       0    0.0055          0          8.9845        20360201             360           357
    46327     IN        HAMMOND                          Single Family                      9.49       0.5       0    0.0055          0          8.9845        20360301             360           358
    60649     IL        CHICAGO                          Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360201             360           357
    55443     MN        BROOKLYN PARK                    PUD                                 7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    60477     IL        ORLAND HILLS                     Single Family                      9.59       0.5       0    0.0055          0          9.0845        20360201             360           357
    60459     IL        BURBANK                          Single Family                      10.4       0.5       0    0.0055          0          9.8945        20360301             360           358
    48017     MI        CLAWSON                          Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360101             360           356
    58102     ND        FARGO                            Single Family                      8.75       0.5       0    0.0055          0          8.2445        20351201             360           355
    53216     WI        MILWAUKEE                        Single Family                      8.65       0.5       0    0.0055          0          8.1445        20351201             360           355
    60540     IL        NAPERVILLE                       Condominium                        8.99       0.5       0    0.0055          0          8.4845        20351101             360           354
    60181     IL        VILLA PARK                       PUD                                9.85       0.5       0    0.0055          0          9.3445        20351101             360           354
    60194     IL        HOFFMAN ESTATES                  Single Family                      10.1       0.5       0    0.0055          0          9.5945        20351101             360           354
    60621     IL        CHICAGO                          2-4 Family                         5.99       0.5       0    0.0055          0          5.4845        20351001             360           353
    55416     MN        ST LOUIS PARK                    Single Family                      5.95       0.5       0    0.0055          0          5.4445        20351001             360           353
    60142     IL        PINGREE GROVE                    Single Family                      6.25       0.5       0    0.0055          0          5.7445        20351001             360           353
    48203     MI        DETROIT                          Single Family                      9.35       0.5       0    0.0055          0          8.8445        20351001             360           353
    48353     MI        HARTLAND                         Single Family                       9.4       0.5       0    0.0055          0          8.8945        20350801             360           351
    63857     MO        KENNETT                          Single Family                      9.19       0.5       0    0.0055          0          8.6845        20250801             240           231
    60624     IL        CHICAGO                          Single Family                     8.575       0.5       0    0.0055          0          8.0695        20350701             360           350
    60181     IL        VILLA PARK                       Single Family                       8.4       0.5       0    0.0055          0          7.8945        20350601             360           349
    20748     MD        TEMPLE HILLS                     Condominium                        6.65       0.5       0    0.0055          0          6.1445        20360301             360           358
    20784     MD        HYATTSVILLE                      Condominium                         7.3       0.5       0    0.0055          0          6.7945        20360301             360           358
    22602     VA        WINCHESTER                       Condominium                         6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
    24112     VA        MARTINSVILLE                     Single Family                      9.65       0.5       0    0.0055          0          9.1445        20360301             360           358
    22405     VA        FREDERICKSBURG                   Single Family                      9.65       0.5       0    0.0055          0          9.1445        20360201             360           357
    17602     PA        LANCASTER                        2-4 Family                          9.6       0.5       0    0.0055          0          9.0945        20360201             360           357
    17327     PA        GLEN ROCK                        Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360101             360           356
    21214     MD        BALTIMORE                        Single Family                      7.99       0.5       0    0.0055          0          7.4845        20351001             360           353
    19041     PA        HAVERFORD                        Single Family                       5.9       0.5       0    0.0055          0          5.3945        20350901             360           352
    20724     MD        LAUREL                           PUD                                6.15       0.5       0    0.0055          0          5.6445        20350701             360           350
    90650     CA        NORWALK                          Single Family                      6.85       0.5       0    0.0055          0          6.3445        20360301             360           358
    90606     CA        WHITTIER AREA                    Single Family                     6.625       0.5       0    0.0055          0          6.1195        20360301             360           358
    90706     CA        BELLFLOWER                       Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360301             360           358
    92307     CA        APPLE VALLEY                     Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    91764     CA        ONTARIO                          Single Family                       6.4       0.5       0    0.0055          0          5.8945        20360301             360           358
    94547     CA        HERCULES                         PUD                                7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    92683     CA        WESTMINSTER                      Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360101             360           356
    95824     CA        SACRAMENTO                       Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360101             360           356
    92563     CA        MURRIETA                         Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360101             360           356
    92865     CA        ORANGE                           Single Family                      7.25       0.5       0    0.0055          0          6.7445        20351201             360           355
    92691     CA        MISSION VIEJO                    Single Family                     6.625       0.5       0    0.0055          0          6.1195        20351201             360           355
    92081     CA        VISTA                            Single Family                       6.5       0.5       0    0.0055          0          5.9945        20351001             360           353
    92509     CA        RIVERSIDE AREA                   Single Family                     10.25       0.5       0    0.0055          0          9.7445        20351001             360           353
    92555     CA        MORENO VALLEY                    Single Family                      9.25       0.5       0    0.0055          0          8.7445        20351001             360           353
    95254     CA        VALLEY SPRINGS                   Single Family                       5.8       0.5       0    0.0055          0          5.2945        20351001             360           353
    90650     CA        NORWALK                          Single Family                       6.5       0.5       0    0.0055          0          5.9945        20350901             360           352
    92845     CA        GARDEN GROVE                     Single Family                      6.25       0.5       0    0.0055          0          5.7445        20350901             360           352
    98568     WA        OAKVILLE                         Single Family                      8.99       0.5       0    0.0055          0          8.4845        20350901             360           352
    91702     CA        AZUSA                            Condominium                           6       0.5       0    0.0055          0          5.4945        20350901             360           352
    92509     CA        RIVERSIDE                        Single Family                      6.25       0.5       0    0.0055          0          5.7445        20350901             360           352
    91401     CA        SHERMAN OAKS                     2-4 Family                         5.99       0.5       0    0.0055          0          5.4845        20350901             360           352
    92345     CA        HESPERIA                         Single Family                      9.05       0.5       0    0.0055          0          8.5445        20350801             360           351
    92335     CA        FONTANA                          Single Family                      5.85       0.5       0    0.0055          0          5.3445        20350601             360           349
    23453     VA        VIRGINIA BEACH                   Single Family                      10.8       0.5       0    0.0055          0         10.2945        20360401             360           359
    29407     SC        CHARLESTON                       Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360301             360           358
     7106     NJ        NEWARK                           2-4 Family                        12.55       0.5       0    0.0055          0         12.0445        20210401             180           179
     7106     NJ        NEWARK                           2-4 Family                          8.9       0.5       0    0.0055          0          8.3945        20360401             360           359
    11226     NY        BROOKLYN                         2-4 Family                        11.05       0.5       0    0.0055          0         10.5445        20210401             180           179
    11226     NY        BROOKLYN                         2-4 Family                          8.6       0.5       0    0.0055          0          8.0945        20360401             360           359
    10701     NY        YONKERS                          2-4 Family                         9.55       0.5       0    0.0055          0          9.0445        20360401             360           359
    11692     NY        FAR ROCKAWAY                     2-4 Family                        12.05       0.5       0    0.0055          0         11.5445        20210401             180           179
    11692     NY        FAR ROCKAWAY                     2-4 Family                         9.85       0.5       0    0.0055          0          9.3445        20360401             360           359
    11428     NY        QUEENS VILLAGE                   Single Family                     11.45       0.5       0    0.0055          0         10.9445        20210401             180           179
    11428     NY        QUEENS VILLAGE                   Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360401             360           359
    11798     NY        WYANDANCH                        Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360301             360           358
     2478     MA        BELMONT                          Condominium                        8.75       0.5       0    0.0055          0          8.2445        20360401             360           359
     2131     MA        ROSLINDALE                       Condominium                         8.8       0.5       0    0.0055          0          8.2945        20360101             360           356
    74467     OK        WAGONER                          Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360301             360           358
    73501     OK        LAWTON                           Single Family                      11.1       0.5       0    0.0055          0         10.5945        20360401             360           359
    73505     OK        LAWTON                           Single Family                      10.8       0.5       0    0.0055          0         10.2945        20360401             360           359
    77566     TX        LAKE JACKSON                     Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360401             360           359
    78204     TX        SAN ANTONIO                      Single Family                        10       0.5       0    0.0055          0          9.4945        20360401             360           359
    76548     TX        HARKER HEIGHTS                   Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
    85716     AZ        TUCSON                           2-4 Family                          9.8       0.5       0    0.0055          0          9.2945        20360401             360           359
    98902     WA        YAKIMA                           Single Family                      12.4       0.5       0    0.0055          0         11.8945        20360301             360           358
    98902     WA        YAKIMA                           Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    95831     CA        SACRAMENTO                       Single Family                      12.1       0.5       0    0.0055          0         11.5945        20360301             360           358
    95831     CA        SACRAMENTO                       Single Family                     8.875       0.5       0    0.0055          0          8.3695        20360301             360           358
    95621     CA        CITRUS HEIGHTS                   Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    84065     UT        RIVERTON                         Single Family                     11.85       0.5       0    0.0055          0         11.3445        20360301             360           358
    84065     UT        RIVERTON                         Single Family                      7.05       0.5       0    0.0055          0          6.5445        20360301             360           358
    92586     CA        SUN CITY                         Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360301             360           358
    95621     CA        CITRUS HEIGHTS                   Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    95301     CA        ATWATER                          Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    94509     CA        ANTIOCH                          Single Family                      8.65       0.5       0    0.0055          0          8.1445        20360301             360           358
    91739     CA        RANCHO CUCAMONG                  Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360301             360           358
    80249     CO        DENVER                           PUD                                8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    93505     CA        CALIFORNIA CITY                  Single Family                      12.5       0.5       0    0.0055          0         11.9945        20360301             360           358
    93505     CA        CALIFORNIA CITY                  Single Family                       6.8       0.5       0    0.0055          0          6.2945        20360301             360           358
    91352     CA        LOS ANGELES                      Single Family                     11.15       0.5       0    0.0055          0         10.6445        20360301             360           358
    91352     CA        LOS ANGELES                      Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    85308     AZ        GLENDALE                         Single Family                      8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    85710     AZ        TUCSON                           PUD                               11.85       0.5       0    0.0055          0         11.3445        20360301             360           358
    85710     AZ        TUCSON                           PUD                                7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    89031     NV        NORTH LAS VEGAS                  Single Family                      10.5       0.5       0    0.0055          0          9.9945        20360301             360           358
    85219     AZ        APACHE JUNCTION                  Single Family                       6.7       0.5       0    0.0055          0          6.1945        20360301             360           358
    94533     CA        FAIRFIELD                        PUD                                 9.2       0.5       0    0.0055          0          8.6945        20360301             360           358
    92405     CA        SAN BERNARDINO                   Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360301             360           358
    85301     AZ        GLENDALE                         PUD                                 7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    85041     AZ        PHOENIX                          PUD                                7.25       0.5       0    0.0055          0          6.7445        20360301             360           358
    97007     OR        BEAVERTON                        Single Family                      12.5       0.5       0    0.0055          0         11.9945        20360301             360           358
    97007     OR        BEAVERTON                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    95677     CA        ROCKLIN                          PUD                               11.85       0.5       0    0.0055          0         11.3445        20360301             360           358
    90305     CA        INGLEWOOD                        Condominium                        7.45       0.5       0    0.0055          0          6.9445        20360301             360           358
    89044     NV        HENDERSON                        PUD                                6.65       0.5       0    0.0055          0          6.1445        20360301             360           358
    89123     NV        LAS VEGAS                        PUD                                8.85       0.5       0    0.0055          0          8.3445        20360301             360           358
    85008     AZ        PHOENIX                          Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
    80631     CO        GREELEY                          Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    93535     CA        LANCASTER                        Single Family                      12.1       0.5       0    0.0055          0         11.5945        20360201             360           357
    93535     CA        LANCASTER                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    98942     WA        SELAH                            Single Family                     11.45       0.5       0    0.0055          0         10.9445        20360301             360           358
    92251     CA        IMPERIAL                         Single Family                      12.1       0.5       0    0.0055          0         11.5945        20360301             360           358
    92251     CA        IMPERIAL                         Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
    95677     CA        ROCKLIN                          PUD                                 7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    93245     CA        LEMOORE                          Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360301             360           358
    95747     CA        ROSEVILLE                        Single Family                      12.5       0.5       0    0.0055          0         11.9945        20360301             360           358
    95747     CA        ROSEVILLE                        Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    92308     CA        APPLE VALLEY                     Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    91710     CA        CHINO                            Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360201             360           357
    95127     CA        SAN JOSE                         Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    95678     CA        ROSEVILLE                        2-4 Family                         7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    95678     CA        ROSEVILLE                        Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    90710     CA        HARBOR CITY                      Single Family                      12.5       0.5       0    0.0055          0         11.9945        20360301             360           358
    90710     CA        HARBOR CITY                      Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    95758     CA        ELK GROVE                        Single Family                      11.4       0.5       0    0.0055          0         10.8945        20360301             360           358
    95758     CA        ELK GROVE                        Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    93536     CA        LANCASTER                        Single Family                      12.5       0.5       0    0.0055          0         11.9945        20360301             360           358
    93536     CA        LANCASTER                        Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    92336     CA        FONTANA                          Single Family                      12.1       0.5       0    0.0055          0         11.5945        20360301             360           358
    92336     CA        FONTANA                          Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    90047     CA        LOS ANGELES                      2-4 Family                          7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
    95348     CA        MERCED                           Single Family                      6.45       0.5       0    0.0055          0          5.9445        20360301             360           358
    91702     CA        AZUSA                            Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360201             360           357
    94546     CA        CASTRO VALLEY                    Single Family                      12.5       0.5       0    0.0055          0         11.9945        20360201             360           357
    94546     CA        CASTRO VALLEY                    Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360201             360           357
    84404     UT        OGDEN                            Single Family                      12.6       0.5       0    0.0055          0         12.0945        20360301             360           358
    84404     UT        OGDEN                            Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360301             360           358
    95824     CA        SACRAMENTO                       Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    91605     CA        NORTH HOLLYWOOD                  Single Family                      11.4       0.5       0    0.0055          0         10.8945        20360101             360           356
    91605     CA        NORTH HOLLYWOOD                  Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360101             360           356
    95206     CA        STOCKTON                         Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360301             360           358
    21146     MD        SEVERNA PARK                     Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360401             360           359
    20784     MD        HYATTSVILLE                      Single Family                        10       0.5       0    0.0055          0          9.4945        20360301             360           358
    20785     MD        HYATTSVILLE                      Condominium                        8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
    20774     MD        UPPER MARLBORO                   PUD                               7.975       0.5       0    0.0055          0          7.4695        20360301             360           358
    21649     MD        MARYDEL                          Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360201             360           357
    21229     MD        BALTIMORE                        Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    20636     MD        HOLLYWOOD                        PUD                                9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
    21206     MD        BALTIMORE                        Single Family                     11.05       0.5       0    0.0055          0         10.5445        20210101             180           176
    23451     VA        VIRGINIA BEACH                   2-4 Family                         10.4       0.5       0    0.0055          0          9.8945        20360301             360           358
    22712     VA        BEALETON                         Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    23464     VA        VIRGINIA BEACH                   Single Family                      10.2       0.5       0    0.0055          0          9.6945        20360301             360           358
    23518     VA        NORFOLK                          Single Family                      11.8       0.5       0    0.0055          0         11.2945        20210301             180           178
    23518     VA        NORFOLK                          Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    23701     VA        PORTSMOUTH                       2-4 Family                         9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
    29485     SC        SUMMERVILLE                      Single Family                     9.975       0.5       0    0.0055          0          9.4695        20360301             360           358
    29577     SC        MYRTLE BEACH                     Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    29455     SC        JOHNS ISLAND                     Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360301             360           358
    29010     SC        BISHOPVILLE                      Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    11722     NY        CENTRAL ISLIP                    Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    29418     SC        NORTH CHARLESTO                  Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    29006     SC        BATESBURG                        Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360201             360           357
    28215     NC        CHARLOTTE                        Single Family                      8.65       0.5       0    0.0055          0          8.1445        20360301             360           358
    28704     NC        ARDEN                            Single Family                      10.7       0.5       0    0.0055          0         10.1945        20201201             180           175
    28352     NC        LAURINBURG                       Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360201             360           357
    30363     GA        ATLANTA                          Condominium                        9.95       0.5       0    0.0055          0          9.4445        20360301             360           358
    30273     GA        REX                              Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360301             360           358
    30281     GA        STOCKBRIDGE                      Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360301             360           358
    33185     FL        MIAMI                            Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    85032     AZ        PHOENIX                          PUD                                  13       0.5       0    0.0055          0         12.4945        20210201             180           177
    33772     FL        SEMINOLE                         Condominium                        9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    33060     FL        POMPANO BEACH                    2-4 Family                          9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    33071     FL        CORAL SPRINGS                    Single Family                      8.85       0.5       0    0.0055          0          8.3445        20360301             360           358
    34434     FL        DUNNELLON                        Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    32703     FL        APOPKA                           Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360301             360           358
    32825     FL        ORLANDO                          Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360301             360           358
    32828     FL        ORLANDO                          Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360301             360           358
    33936     FL        LEHIGH ACRES                     Single Family                     10.75       0.5       0    0.0055          0         10.2445        20360301             360           358
    32208     FL        JACKSONVILLE                     Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
     8005     NJ        BARNEGAT                         Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360301             360           358
     7063     NJ        PLAINFIELD                       Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
     7306     NJ        JERSEY CITY                      2-4 Family                         8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
     7050     NJ        ORANGE                           2-4 Family                        11.25       0.5       0    0.0055          0         10.7445        20360301             360           358
     7106     NJ        NEWARK                           2-4 Family                         7.95       0.5       0    0.0055          0          7.4445        20360301             360           358
     7206     NJ        ELIZABETH                        2-4 Family                         8.45       0.5       0    0.0055          0          7.9445        20360201             360           357
     7036     NJ        LINDEN                           2-4 Family                        11.65       0.5       0    0.0055          0         11.1445        20210101             180           176
     7305     NJ        JERSEY CITY                      Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
     7728     NJ        HOWELL TOWNSHIP                  PUD                               10.05       0.5       0    0.0055          0          9.5445        20360301             360           358
     7112     NJ        NEWARK                           Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    44130     OH        MIDDLEBURG HEIG                  Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360301             360           358
    45806     OH        LIMA                             Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    43932     OH        IRONDALE                         Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    43720     OH        BLUE ROCK                        Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360201             360           357
    43055     OH        NEWARK                           Single Family                      11.8       0.5       0    0.0055          0         11.2945        20210101             180           176
    43933     OH        JACOBSBURG                       Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    19124     PA        PHILADELPHIA                     Condominium                        7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    19151     PA        PHILADELPHIA                     Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360301             360           358
    11207     NY        BROOKLYN                         2-4 Family                          8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    11798     NY        WYANDANCH                        Single Family                       8.1       0.5       0    0.0055          0          7.5945        20360301             360           358
    13501     NY        UTICA                            Single Family                      11.9       0.5       0    0.0055          0         11.3945        20360301             360           358
    11722     NY        CENTRAL ISLIP                    Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
    10469     NY        BRONX                            Single Family                     10.55       0.5       0    0.0055          0         10.0445        20360301             360           358
    10467     NY        BRONX                            2-4 Family                         8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    11550     NY        HEMPSTEAD                        Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360201             360           357
    11205     NY        BROOKLYN                         Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360301             360           358
     1104     MA        SPRINGFIELD                      2-4 Family                          8.9       0.5       0    0.0055          0          8.3945        20360301             360           358
     1104     MA        SPRINGFIELD                      2-4 Family                         9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
     2122     MA        DORCHESTER                       2-4 Family                        12.05       0.5       0    0.0055          0         11.5445        20210201             180           177
     2122     MA        DORCHESTER                       2-4 Family                          8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
     1108     MA        SPRINGFIELD                      2-4 Family                        11.55       0.5       0    0.0055          0         11.0445        20210101             180           176
     2330     MA        CARVER                           Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
     6248     CT        HEBRON                           Single Family                     11.45       0.5       0    0.0055          0         10.9445        20360301             360           358
     6704     CT        WATERBURY                        2-4 Family                          8.1       0.5       0    0.0055          0          7.5945        20360301             360           358
     6608     CT        BRIDGEPORT                       Single Family                      8.55       0.5       0    0.0055          0          8.0445        20360201             360           357
     2905     RI        PROVIDENCE                       2-4 Family                        11.45       0.5       0    0.0055          0         10.9445        20210301             180           178
     2905     RI        PROVIDENCE                       2-4 Family                          8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
     2888     RI        WARWICK                          Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
     2908     RI        PROVIDENCE                       2-4 Family                         7.95       0.5       0    0.0055          0          7.4445        20360301             360           358
     2888     RI        WARWICK                          2-4 Family                         7.45       0.5       0    0.0055          0          6.9445        20360301             360           358
     2908     RI        PROVIDENCE                       2-4 Family                          9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
     2908     RI        PROVIDENCE                       2-4 Family                         9.05       0.5       0    0.0055          0          8.5445        20360101             360           356
    51640     IA        HAMBURG                          Single Family                      10.8       0.5       0    0.0055          0         10.2945        20210301             180           178
    51640     IA        HAMBURG                          Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    54728     WI        CHETEK                           Single Family                      9.65       0.5       0    0.0055          0          9.1445        20201201             180           175
    48220     MI        FERNDALE                         Single Family                     12.15       0.5       0    0.0055          0         11.6445        20201201             180           175
    55106     MN        ST. PAUL                         2-4 Family                          7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    55117     MN        SAINT PAUL                       Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    72764     AR        BETHEL HEIGHTS                   Single Family                     10.35       0.5       0    0.0055          0          9.8445        20210301             180           178
    72764     AR        BETHEL HEIGHTS                   Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    38116     TN        MEMPHIS                          Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    37086     TN        LAVERGNE                         Single Family                      8.91       0.5       0    0.0055          0          8.4045        20210201             180           177
    37086     TN        LAVERGNE                         Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360201             360           357
    37769     TN        LAKE CITY                        Single Family                      9.94       0.5       0    0.0055          0          9.4345        20210201             180           177
    38343     TN        HUMBOLDT                         Single Family                      8.94       0.5       0    0.0055          0          8.4345        20210301             180           178
    38343     TN        HUMBOLDT                         Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360301             360           358
    39540     MS        DIBERVILLE                       Single Family                       8.4       0.5       0    0.0055          0          7.8945        20360301             360           358
    39482     MS        SUMRALL                          Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360301             360           358
    39194     MS        YAZOO CITY                       Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    35404     AL        TUSCALOOSA                       Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    36606     AL        MOBILE                           Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
    36541     AL        GRAND BAY                        Single Family                      9.55       0.5       0    0.0055          0          9.0445        20360201             360           357
    64060     MO        KEARNEY                          2-4 Family                         8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    63033     MO        FLORISSANT                       Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360301             360           358
    64030     MO        GRANDVIEW                        Single Family                     12.05       0.5       0    0.0055          0         11.5445        20210301             180           178
    64030     MO        GRANDVIEW                        Single Family                      8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    74403     OK        MUSKOGEE                         Single Family                     10.85       0.5       0    0.0055          0         10.3445        20360301             360           358
    38860     MS        OKOLONA                          Single Family                      9.55       0.5       0    0.0055          0          9.0445        20360401             360           359
    73098     OK        WYNNEWOOD                        Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    74501     OK        MCALESTER                        Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360301             360           358
    74055     OK        OWASSO                           Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    74501     OK        MCALESTER                        Single Family                     11.95       0.5       0    0.0055          0         11.4445        20210301             180           178
    74501     OK        MCALESTER                        Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
    74403     OK        MUSKOGEE                         Single Family                      11.7       0.5       0    0.0055          0         11.1945        20360201             360           357
    74432     OK        EUFAULA                          Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360201             360           357
    74464     OK        TAHLEQUAH                        Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
    73119     OK        OKLAHOMA CITY                    Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    73013     OK        OKLAHOMA CITY                    Single Family                     7.825       0.5       0    0.0055          0          7.3195        20360301             360           358
    73505     OK        LAWTON                           Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    73132     OK        OKLAHOMA CITY                    Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360301             360           358
    73505     OK        LAWTON                           Single Family                     11.55       0.5       0    0.0055          0         11.0445        20210201             180           177
    73507     OK        LAWTON                           Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360301             360           358
    75069     TX        FAIRVIEW                         Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    78640     TX        KYLE                             PUD                                7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    77566     TX        LAKE JACKSON                     Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    77379     TX        SPRING                           PUD                                  10       0.5       0    0.0055          0          9.4945        20360301             360           358
    75115     TX        DESOTO                           Single Family                      10.8       0.5       0    0.0055          0         10.2945        20210101             180           176
    93219     CA        EARLIMART                        Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
    93305     CA        BAKERSFIELD                      Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    93215     CA        DELANO                           Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360201             360           357
    95632     CA        GALT                             Single Family                     10.85       0.5       0    0.0055          0         10.3445        20360301             360           358
    90037     CA        LOS ANGELES                      2-4 Family                          8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    90201     CA        BELL GARDENS                     Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360301             360           358
    95640     CA        IONE                             Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    90023     CA        LOS ANGELES                      2-4 Family                         8.65       0.5       0    0.0055          0          8.1445        20360101             360           356
    90501     CA        LOS ANGELES                      Single Family                      11.3       0.5       0    0.0055          0         10.7945        20210101             180           176
    92503     CA        RIVERSIDE                        Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    92583     CA        SAN JACINTO                      Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    92555     CA        MORENO VALLEY                    Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360301             360           358
    91911     CA        CHULA VISTA                      Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
    92551     CA        MORENO VALLEY                    Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    91768     CA        POMONA                           Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360201             360           357
    90011     CA        LOS ANGELES                      2-4 Family                        11.95       0.5       0    0.0055          0         11.4445        20210201             180           177
    90011     CA        LOS ANGELES                      2-4 Family                         9.45       0.5       0    0.0055          0          8.9445        20360201             360           357
    93555     CA        RIDGECREST                       Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
    88101     NM        CLOVIS                           Single Family                     11.41       0.5       0    0.0055          0         10.9045        20210301             180           178
    88101     NM        CLOVIS                           Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    80108     CO        CASTLE ROCK                      Single Family                      10.8       0.5       0    0.0055          0         10.2945        20210101             180           176
    84062     UT        PLEASANT GROVE                   Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    84119     UT        WEST VALLEY CIT                  Single Family                     11.55       0.5       0    0.0055          0         11.0445        20210301             180           178
    84119     UT        WEST VALLEY CIT                  Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360301             360           358
    84604     UT        PROVO                            Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    84103     UT        SALT LAKE CITY                   Single Family                       8.2       0.5       0    0.0055          0          7.6945        20360301             360           358
    85746     AZ        TUCSON                           PUD                                 9.4       0.5       0    0.0055          0          8.8945        20360301             360           358
    85747     AZ        TUCSON                           PUD                               8.625       0.5       0    0.0055          0          8.1195        20360301             360           358
    85032     AZ        PHOENIX                          PUD                                   8       0.5       0    0.0055          0          7.4945        20360201             360           357
    85745     AZ        TUCSON                           Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
    86401     AZ        KINGMAN                          Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360301             360           358
    85706     AZ        TUCSON                           Single Family                     7.975       0.5       0    0.0055          0          7.4695        20360201             360           357
    86401     AZ        KINGMAN                          Single Family                      10.7       0.5       0    0.0055          0         10.1945        20210101             180           176
    99504     AK        ANCHORAGE                        Single Family                     11.45       0.5       0    0.0055          0         10.9445        20210301             180           178
    99504     AK        ANCHORAGE                        Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
    99503     AK        ANCHORAGE                        2-4 Family                         12.2       0.5       0    0.0055          0         11.6945        20210301             180           178
    99503     AK        ANCHORAGE                        2-4 Family                         9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    99508     AK        ANCHORAGE                        2-4 Family                         11.2       0.5       0    0.0055          0         10.6945        20210401             180           179
    99508     AK        ANCHORAGE                        2-4 Family                         8.05       0.5       0    0.0055          0          7.5445        20360401             360           359
    99518     AK        ANCHORAGE                        2-4 Family                        11.05       0.5       0    0.0055          0         10.5445        20210301             180           178
    99518     AK        ANCHORAGE                        2-4 Family                          7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
    99654     AK        WASILLA                          2-4 Family                         12.2       0.5       0    0.0055          0         11.6945        20210301             180           178
    99654     AK        WASILLA                          2-4 Family                         9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    99516     AK        ANCHORAGE                        Single Family                     11.25       0.5       0    0.0055          0         10.7445        20201201             180           175
    99515     AK        ANCHORAGE                        PUD                                11.5       0.5       0    0.0055          0         10.9945        20201201             180           175
    99516     AK        ANCHORAGE                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    59047     MT        LIVINGSTON                       Single Family                     7.425       0.5       0    0.0055          0          6.9195        20360301             360           358
    59072     MT        ROUNDUP                          Single Family                       8.8       0.5       0    0.0055          0          8.2945        20210201             180           177
    59834     MT        FRENCHTOWN                       Single Family                     10.15       0.5       0    0.0055          0          9.6445        20360301             360           358
    59102     MT        BILLINGS                         Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    83406     ID        AMMON                            Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    83350     ID        RUPERT                           Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360201             360           357
    96706     HI        EWA BEACH                        PUD                                11.7       0.5       0    0.0055          0         11.1945        20210101             180           176
    98683     WA        VANCOUVER                        Single Family                      11.5       0.5       0    0.0055          0         10.9945        20210301             180           178
    98683     WA        VANCOUVER                        Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    99216     WA        SPOKANE                          Single Family                       9.3       0.5       0    0.0055          0          8.7945        20360301             360           358
    98682     WA        VANCOUVER                        Single Family                     10.95       0.5       0    0.0055          0         10.4445        20210101             180           176
    97388     OR        GLENEDEN BEACH                   Single Family                      7.05       0.5       0    0.0055          0          6.5445        20360301             360           358
    97233     OR        PORTLAND                         Single Family                       8.4       0.5       0    0.0055          0          7.8945        20360301             360           358
    97535     OR        PHOENIX                          Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    97224     OR        PORTLAND                         Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360301             360           358
    97058     OR        THE DALLES                       Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    97478     OR        SPRINGFIELD                      Single Family                      13.1       0.5       0    0.0055          0         12.5945        20360201             360           357
    97002     OR        AURORA                           Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
    97236     OR        PORTLAND                         Single Family                      9.95       0.5       0    0.0055          0          9.4445        20210101             180           176
    32809     FL        Orlando                          Single Family                     10.99       0.5       0    0.0055          0         10.4845        20360401             360           359
    40160     KY        Radcliff                         Single Family                     10.99       0.5       0    0.0055          0         10.4845        20360401             360           359
    19061     PA        Boothwyn                         Single Family                      7.91       0.5       0    0.0055          0          7.4045        20360401             360           359
    19008     PA        Broomall                         Single Family                      8.78       0.5       0    0.0055          0          8.2745        20360401             360           359
    43123     OH        Grove City                       Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360401             360           359
    20866     MD        BURTONSVILLE                     PUD                                7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    85202     AZ        Mesa                             Condominium                      10.345       0.5       0    0.0055          0          9.8395        20360401             360           359
    22554     VA        Stafford                         PUD                              10.255       0.5       0    0.0055          0          9.7495        20360401             360           359
     8087     NJ        Little Egg Harbor                Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
     7067     NJ        TOWNSHIP OF                      Single Family                     9.875       0.5       0    0.0055          0          9.3695        20360301             360           358
                        WOODBRIDGE
    19050     PA        East Lansdowne                   2-4 Family                         8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    86326     AZ        Cottonwood                       Single Family                     12.78       0.5       0    0.0055          0         12.2745        20260401             240           239
    86326     AZ        Cottonwood                       Single Family                      9.87       0.5       0    0.0055          0          9.3645        20360401             360           359
    32907     FL        Palm Bay                         Single Family                       9.2       0.5       0    0.0055          0          8.6945        20360401             360           359
    29853     SC        Williston                        Single Family                      8.85       0.5       0    0.0055          0          8.3445        20360401             360           359
    85302     AZ        GLENDALE                         Single Family                      9.24       0.5       0    0.0055          0          8.7345        20360401             360           359
    39204     MS        JACKSON                          Single Family                      9.94       0.5       0    0.0055          0          9.4345        20360401             360           359
    39204     MS        JACKSON                          Single Family                      9.94       0.5       0    0.0055          0          9.4345        20360401             360           359
    92683     CA        Westminster                      Single Family                      7.34       0.5       0    0.0055          0          6.8345        20360301             360           358
    85308     AZ        Glendale                         Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360401             360           359
     8021     NJ        Lindenwold                       Single Family                     10.93       0.5       0    0.0055          0         10.4245        20360401             360           359
     8021     NJ        Lindenwold                       Single Family                     7.995       0.5       0    0.0055          0          7.4895        20360401             360           359
    49022     MI        Benton Harbor                    Single Family                     11.11       0.5       0    0.0055          0         10.6045        20360401             360           359
    49022     MI        Benton Harbor                    Single Family                     11.11       0.5       0    0.0055          0         10.6045        20360401             360           359
    20866     MD        BURTONSVILLE                     PUD                               11.98       0.5       0    0.0055          0         11.4745        20210201             180           177
    33904     FL        Cape Coral                       Condominium                       13.79       0.5       0    0.0055          0         13.2845        20260301             240           238
    33904     FL        Cape Coral                       Condominium                        9.15       0.5       0    0.0055          0          8.6445        20360301             360           358
    45764     OH        Nelsonville                      Single Family                      9.72       0.5       0    0.0055          0          9.2145        20360301             360           358
    41042     KY        10                               Single Family                     12.35       0.5       0    0.0055          0         11.8445        20260401             240           239
    43227     OH        Columbus                         Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360401             360           359
    41042     KY        Florence                         Single Family                      7.94       0.5       0    0.0055          0          7.4345        20360401             360           359
    44320     OH        Akron                            Single Family                      7.34       0.5       0    0.0055          0          6.8345        20360401             360           359
    43130     OH        Lancaster                        Single Family                     12.55       0.5       0    0.0055          0         12.0445        20260301             240           238
    43130     OH        Lancaster                        Single Family                      7.69       0.5       0    0.0055          0          7.1845        20360301             360           358
    43022     OH        Gambier                          Single Family                     12.35       0.5       0    0.0055          0         11.8445        20260301             240           238
    43022     OH        Gambier                          Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    23320     VA        Chesapeake                       Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    49058     MI        Hastings                         Single Family                     11.45       0.5       0    0.0055          0         10.9445        20260301             240           238
    49058     MI        Hastings                         Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
    98223     WA        Arlington                        Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    22514     VA        MILFORD                          Single Family                     12.77       0.5       0    0.0055          0         12.2645        20360401             360           359
    22514     VA        MILFORD                          Single Family                     8.705       0.5       0    0.0055          0          8.1995        20360401             360           359
    60060     IL        MUNDELEIN                        Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
     1504     MA        BLACKSTONE                       Single Family                      8.95       0.5       0    0.0055          0          8.4445        20260301             240           238
    61523     IL        CHILLICOTHE                      Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    80220     CO        DENVER                           Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    90605     CA        WHITTIER                         Single Family                       6.1       0.5       0    0.0055          0          5.5945        20360301             360           358
    55439     MN        EDINA                            PUD                                7.45       0.5       0    0.0055          0          6.9445        20360301             360           358
    60639     IL        CHICAGO                          2-4 Family                         8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    95843     CA        ANTELOPE                         Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360301             360           358
    60120     IL        ELGIN                            Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
     6040     CT        MANCHESTER                       Single Family                      5.99       0.5       0    0.0055          0          5.4845        20360301             360           358
    95814     CA        SACRAMENTO                       Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    55919     MN        BROWNSVILLE                      Single Family                     6.625       0.5       0    0.0055          0          6.1195        20360301             360           358
    60048     IL        LIBERTYVILLE                     Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360301             360           358
    33065     FL        POMPANO BEACH                    Condominium                       6.875       0.5       0    0.0055          0          6.3695        20360301             360           358
     2893     RI        WEST WARWICK                     Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    90805     CA        LONG BEACH                       2-4 Family                         7.15       0.5       0    0.0055          0          6.6445        20360301             360           358
    95758     CA        ELK GROVE                        Single Family                      6.35       0.5       0    0.0055          0          5.8445        20360401             360           359
    60628     IL        CHICAGO                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    20602     MD        WALDORF                          PUD                                 7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    33411     FL        ROYAL PALM BEAC                  Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
     2909     RI        PROVIDENCE                       Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
     2915     RI        EAST PROVIDENCE                  Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    61111     IL        LOVES PARK                       Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    60002     IL        ANTIOCH                          PUD                                6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    94603     CA        OAKLAND                          Single Family                     5.625       0.5       0    0.0055          0          5.1195        20360301             360           358
    20772     MD        UPPER MARLBORO                   PUD                                 9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
     6460     CT        MILFORD                          Condominium                        8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    91754     CA        MONTEREY PARK                    Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360301             360           358
    60565     IL        NAPERVILLE                       PUD                                6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
    20774     MD        UPPER MARLBORO                   PUD                                 8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    20601     MD        WALDORF                          Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    60430     IL        HOMEWOOD                         Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    20744     MD        FORT WASHINGTON                  Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    20743     MD        CAPITOL HEIGHTS                  Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    60586     IL        PLAINFIELD                       PUD                                 9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    60639     IL        CHICAGO                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    94577     CA        SAN LEANDRO                      Single Family                     6.125       0.5       0    0.0055          0          5.6195        20360301             360           358
    55433     MN        COON RAPIDS                      Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    93041     CA        PORT HUEMENE                     Condominium                       6.125       0.5       0    0.0055          0          5.6195        20360301             360           358
    20708     MD        LAUREL                           Condominium                        8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
     2864     RI        CUMBERLAND                       Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
     6082     CT        ENFIELD                          Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
     6280     CT        WINDHAM                          Single Family                     10.15       0.5       0    0.0055          0          9.6445        20360301             360           358
    60643     IL        CHICAGO                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
     2770     MA        ROCHESTER                        Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
     6339     CT        LEDYARD                          Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    92503     CA        RIVERSIDE                        Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
     2817     RI        WEST GREENWICH                   Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    91722     CA        COVINA                           Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
     2645     MA        HARWICH                          Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    91311     CA        CHATSWORTH                       Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    32713     FL        DEBARY                           Single Family                      10.9       0.5       0    0.0055          0         10.3945        20360301             360           358
    90220     CA        COMPTON                          Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    55024     MN        FARMINGTON                       Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    92878     CA        CORONA                           Condominium                         7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    55376     MN        ST. MICHAEL                      Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
     2818     RI        EAST GREENWICH                   Condominium                         9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    90044     CA        LOS ANGELES                      Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    90650     CA        NORWALK                          Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360301             360           358
    95363     CA        PATTERSON                        Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    90001     CA        LOS ANGELES                      Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
     1982     MA        SOUTH HAMILTON                   Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360401             360           359
    60010     IL        BARRINGTON                       PUD                                 7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    55117     MN        MAPLEWOOD                        Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    91748     CA        ROWLAND HEIGHTS                  Single Family                      8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    33175     FL        MIAMI                            Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
     1702     MA        FRAMINGHAM                       2-4 Family                         5.99       0.5       0    0.0055          0          5.4845        20360301             360           358
    91722     CA        COVINA                           Single Family                      6.55       0.5       0    0.0055          0          6.0445        20210301             180           178
    55127     MN        VADNAIS HEIGHTS                  Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    55443     MN        BROOKLYN PARK                    Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
    55069     MN        RUSH CITY                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
     2368     MA        RANDOLPH                         Single Family                     5.875       0.5       0    0.0055          0          5.3695        20360301             360           358
    91342     CA        SYLMAR                           Single Family                      5.99       0.5       0    0.0055          0          5.4845        20360301             360           358
    91335     CA        RESEDA                           Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    33407     FL        WEST PALM BEACH                  Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    60050     IL        MCCULLOM LAKE                    Single Family                      7.67       0.5       0    0.0055          0          7.1645        20360301             360           358
    91748     CA        ROWLAND HEIGHTS                  Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
    60607     IL        CHICAGO                          Condominium                        7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
     1077     MA        SOUTHWICK                        Single Family                      10.2       0.5       0    0.0055          0          9.6945        20360301             360           358
    93552     CA        PALMDALE                         Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
    60103     IL        BARTLETT                         Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    92307     CA        APPLE VALLEY                     Single Family                     5.875       0.5       0    0.0055          0          5.3695        20360301             360           358
     6516     CT        WEST HAVEN                       2-4 Family                          9.6       0.5       0    0.0055          0          9.0945        20360301             360           358
    90302     CA        INGLEWOOD                        Single Family                      5.99       0.5       0    0.0055          0          5.4845        20360301             360           358
    21209     MD        BALTIMORE                        Condominium                        6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
    20743     MD        CAPITOL HEIGHTS                  Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    91740     CA        GLENDORA                         Single Family                     5.875       0.5       0    0.0055          0          5.3695        20360301             360           358
    55371     MN        PRINCETON                        Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360301             360           358
    91104     CA        PASADENA                         Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    95240     CA        LODI                             Single Family                     6.375       0.5       0    0.0055          0          5.8695        20360301             360           358
    93536     CA        LANCASTER                        Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360301             360           358
    60074     IL        PALATINE                         Condominium                        7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    33150     FL        MIAMI                            2-4 Family                         6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    33441     FL        DEERFIELD BEACH                  Single Family                      9.55       0.5       0    0.0055          0          9.0445        20360301             360           358
    33063     FL        MARGATE                          Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
    90745     CA        CARSON                           PUD                                8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
     2451     MA        WALTHAM                          Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360301             360           358
    92117     CA        SAN DIEGO                        Single Family                       6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    55024     MN        FARMINGTON                       Condominium                        8.05       0.5       0    0.0055          0          7.5445        20360301             360           358
    60558     IL        WESTERN SPRINGS                  Single Family                     8.875       0.5       0    0.0055          0          8.3695        20360301             360           358
     1201     MA        PITTSFIELD                       Single Family                     11.05       0.5       0    0.0055          0         10.5445        20360301             360           358
     2804     RI        HOPKINTON                        Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    60073     IL        ROUND LAKE                       Condominium                        6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    55068     MN        ROSEMOUNT                        Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    95307     CA        CERES                            Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    20740     MD        COLLEGE PARK                     Single Family                      10.1       0.5       0    0.0055          0          9.5945        20360301             360           358
    33312     FL        FORT LAUDERDALE                  Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360301             360           358
    55316     MN        CHAMPLIN                         Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    21207     MD        BALTIMORE                        Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
    80537     CO        LOVELAND                         Single Family                     10.35       0.5       0    0.0055          0          9.8445        20360301             360           358
    20747     MD        DISTRICT HEIGHT                  Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
    90221     CA        COMPTON                          2-4 Family                        5.875       0.5       0    0.0055          0          5.3695        20360301             360           358
    60085     IL        WAUKEGAN                         Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360301             360           358
     6605     CT        BRIDGEPORT                       Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
     6320     CT        NEW LONDON                       Single Family                      10.4       0.5       0    0.0055          0          9.8945        20360301             360           358
    60101     IL        ADDISON                          Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    92553     CA        MORENO VALLEY                    Single Family                       6.6       0.5       0    0.0055          0          6.0945        20360301             360           358
    60609     IL        CHICAGO                          Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
    60041     IL        INGLESIDE                        Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
     2808     RI        WESTERLY                         Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    60623     IL        CHICAGO                          2-4 Family                          8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
    91977     CA        SPRING VALLEY                    Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    92404     CA        SAN BERNARDINO                   Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360301             360           358
    90019     CA        LOS ANGELES                      Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
     2891     RI        WESTERLY                         Single Family                       6.8       0.5       0    0.0055          0          6.2945        20360301             360           358
    60630     IL        CHICAGO                          Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    55128     MN        OAKDALE                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    33060     FL        POMPANO BEACH                    Single Family                       8.1       0.5       0    0.0055          0          7.5945        20360301             360           358
    91605     CA        NORTH HOLLYWOOD                  Single Family                      6.25       0.5       0    0.0055          0          5.7445        20360301             360           358
    55318     MN        CHASKA                           Single Family                     7.125       0.5       0    0.0055          0          6.6195        20360301             360           358
    21012     MD        ARNOLD                           Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    55060     MN        OWATONNA                         Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    91792     CA        WEST COVINA                      Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360301             360           358
    91326     CA        NORTHRIDGE                       Condominium                         7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    55355     MN        LITCHFIELD                       Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360301             360           358
     6513     CT        NEW HAVEN                        Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    92345     CA        HESPERIA                         Single Family                      6.65       0.5       0    0.0055          0          6.1445        20360301             360           358
    55128     MN        OAKDALE                          Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
    60645     IL        CHICAGO                          Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360301             360           358
    92831     CA        FULLERTON                        Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
    91945     CA        LEMON GROVE                      Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360301             360           358
    56345     MN        LITTLE FALLS                     Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    60435     IL        JOLIET                           Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    55315     MN        CARVER                           Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
     1364     MA        ORANGE                           Single Family                     10.65       0.5       0    0.0055          0         10.1445        20360301             360           358
     2904     RI        NORTH PROVIDENC                  Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    90601     CA        WHITTIER                         Single Family                      6.65       0.5       0    0.0055          0          6.1445        20360301             360           358
    56560     MN        MOORHEAD                         Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    94514     CA        BYRON                            Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360301             360           358
    33161     FL        MIAMI                            Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360301             360           358
    92557     CA        MORENO VALLEY                    Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    90501     CA        TORRANCE                         2-4 Family                          6.7       0.5       0    0.0055          0          6.1945        20360301             360           358
    55024     MN        FARMINGTON                       Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    93591     CA        PALMDALE                         Single Family                      8.65       0.5       0    0.0055          0          8.1445        20360301             360           358
    55056     MN        NORTH BRANCH                     Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    55069     MN        RUSH CITY                        Single Family                       6.7       0.5       0    0.0055          0          6.1945        20360301             360           358
     2124     MA        DORCHESTER                       2-4 Family                          8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    55055     MN        NEWPORT                          Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360301             360           358
    21643     MD        HURLOCK                          Single Family                      11.3       0.5       0    0.0055          0         10.7945        20360301             360           358
    56560     MN        MOORHEAD                         Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360301             360           358
    21774     MD        NEW MARKET                       Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
     1364     MA        ORANGE                           Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360301             360           358
    60636     IL        CHICAGO                          2-4 Family                         8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    60628     IL        CHICAGO                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
     2861     RI        PAWTUCKET                        2-4 Family                         8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    90746     CA        CARSON                           Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360301             360           358
    91352     CA        SUN VALLEY                       Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    55406     MN        MINNEAPOLIS                      Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360301             360           358
    56551     MN        HENNING                          Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    21244     MD        WINDSORMILL                      PUD                                8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    92841     CA        GARDEN GROVE                     Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360301             360           358
    55337     MN        BURNSVILLE                       PUD                                 9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    21229     MD        BALTIMORE                        Single Family                      8.85       0.5       0    0.0055          0          8.3445        20360301             360           358
     2364     MA        KINGSTON                         Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360301             360           358
    95842     CA        SACRAMENTO                       Condominium                         7.1       0.5       0    0.0055          0          6.5945        20360301             360           358
    90062     CA        LOS ANGELES                      2-4 Family                         5.75       0.5       0    0.0055          0          5.2445        20360301             360           358
    60618     IL        CHICAGO                          Condominium                        9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    80010     CO        AURORA                           Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360301             360           358
    60192     IL        HOFFMAN ESTATES                  Condominium                        6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
     1507     MA        CHARLTON                         Single Family                     10.15       0.5       0    0.0055          0          9.6445        20360301             360           358
    21113     MD        ODENTON                          PUD                                8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    60133     IL        HANOVER PARK                     PUD                                7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    91106     CA        PASADENA                         Condominium                         7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    93552     CA        PALMDALE                         Single Family                      7.05       0.5       0    0.0055          0          6.5445        20360301             360           358
    20602     MD        WALDORF                          PUD                                 9.3       0.5       0    0.0055          0          8.7945        20360301             360           358
    21229     MD        BALTIMORE                        Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
    60074     IL        PALATINE                         Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360201             360           357
    55433     MN        COON RAPIDS                      Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    94518     CA        CONCORD                          Condominium                         8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    90503     CA        TORRANCE                         Single Family                       6.1       0.5       0    0.0055          0          5.5945        20360301             360           358
    55040     MN        ISANTI                           Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360201             360           357
    33311     FL        FT. LAUDERDALE                   Single Family                      8.05       0.5       0    0.0055          0          7.5445        20360201             360           357
    91977     CA        SPRING VALLEY                    Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360301             360           358
    91331     CA        PACOIMA                          Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    60459     IL        BURBANK                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    90601     CA        WHITTIER                         Single Family                      6.35       0.5       0    0.0055          0          5.8445        20360301             360           358
    60652     IL        CHICAGO                          Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
    55109     MN        NORTH SAINT PAU                  Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360301             360           358
    33073     FL        COCONUT CREEK                    PUD                               6.875       0.5       0    0.0055          0          6.3695        20360201             360           357
    55119     MN        SAINT PAUL                       Single Family                       6.8       0.5       0    0.0055          0          6.2945        20360301             360           358
    91744     CA        LA PUENTE                        Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360301             360           358
    56338     MN        HILLMAN                          Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360301             360           358
    55906     MN        ROCHESTER                        PUD                                 7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    60101     IL        ADDISON                          Single Family                     8.625       0.5       0    0.0055          0          8.1195        20360201             360           357
    92530     CA        LAKE ELSINORE                    Single Family                      7.15       0.5       0    0.0055          0          6.6445        20360301             360           358
    55441     MN        PLYMOUTH                         Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360201             360           357
    91792     CA        WEST COVINA                      Single Family                      6.65       0.5       0    0.0055          0          6.1445        20360301             360           358
    55412     MN        MINNEAPOLIS                      Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    20747     MD        FORESTVILLE                      Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    90706     CA        BELLFLOWER                       Single Family                         7       0.5       0    0.0055          0          6.4945        20360301             360           358
    95822     CA        SACRAMENTO                       Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    55398     MN        ZIMMERMAN                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    20744     MD        FORT WASHINGTON                  Single Family                       8.1       0.5       0    0.0055          0          7.5945        20360201             360           357
     2149     MA        EVERETT                          Single Family                     11.15       0.5       0    0.0055          0         10.6445        20360301             360           358
    60647     IL        CHICAGO                          2-4 Family                         8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    60018     IL        DES PLAINES                      Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    55119     MN        ST PAUL                          Single Family                      10.1       0.5       0    0.0055          0          9.5945        20360301             360           358
    91754     CA        MONTEREY PARK                    Single Family                      6.55       0.5       0    0.0055          0          6.0445        20360201             360           357
    56662     MN        OUTING                           Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360301             360           358
    33028     FL        HOLLYWOOD                        Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    33953     FL        PORT CHARLOTTE                   Condominium                         8.8       0.5       0    0.0055          0          8.2945        20360201             360           357
     6255     CT        THOMPSON                         Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    60192     IL        HOFFMAN ESTATES                  Condominium                        9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
     6513     CT        NEW HAVEN                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
     1752     MA        MARLBOROUGH                      Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360201             360           357
    90037     CA        LOS ANGELES                      Single Family                     6.375       0.5       0    0.0055          0          5.8695        20360301             360           358
    91748     CA        ROWLAND HEIGHTS                  Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360201             360           357
    60416     IL        CARBON CITY                      Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    55420     MN        BLOOMINGTON                      Single Family                     5.875       0.5       0    0.0055          0          5.3695        20360301             360           358
    21617     MD        CENTREVILLE                      Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360201             360           357
    92508     CA        RIVERSIDE                        Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
     1462     MA        LUNENBURG                        Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360201             360           357
    21236     MD        NOTTINGHAM                       Single Family                       9.3       0.5       0    0.0055          0          8.7945        20360201             360           357
     1752     MA        MARLBOROUGH                      Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
    55810     MN        DULUTH                           Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    21207     MD        GWYNN OAK                        Single Family                     6.625       0.5       0    0.0055          0          6.1195        20360201             360           357
    60504     IL        AURORA                           PUD                                7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    20743     MD        CAPITOL HEIGHTS                  PUD                                9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    33309     FL        FORT LAUDERDALE                  Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    33351     FL        SUNRISE                          PUD                                9.25       0.5       0    0.0055          0          8.7445        20360201             360           357
    60640     IL        CHICAGO                          Condominium                         8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    55375     MN        SAINT BONIFACIU                  Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    55117     MN        SAINT PAUL                       Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    20716     MD        BOWIE                            PUD                                 8.7       0.5       0    0.0055          0          8.1945        20360201             360           357
    94509     CA        ANTIOCH                          Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
    20772     MD        UPPER MARLBORO                   Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360301             360           358
    60652     IL        CHICAGO                          Single Family                      10.1       0.5       0    0.0055          0          9.5945        20360201             360           357
    95206     CA        STOCKTON                         Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    60634     IL        CHICAGO                          2-4 Family                         8.05       0.5       0    0.0055          0          7.5445        20360201             360           357
    60647     IL        CHICAGO                          Condominium                        7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    60068     IL        PARK RIDGE                       Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360201             360           357
    21229     MD        BALTIMORE                        Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360201             360           357
    21224     MD        BALTIMORE                        Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360201             360           357
    21221     MD        ESSEX                            Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360201             360           357
    21144     MD        SEVERN                           Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    61081     IL        STERLING                         Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
    55076     MN        INVER GROVE HEI                  Condominium                        9.95       0.5       0    0.0055          0          9.4445        20360301             360           358
     1056     MA        LUDLOW                           Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360201             360           357
    90805     CA        LONG BEACH                       Condominium                        8.65       0.5       0    0.0055          0          8.1445        20360201             360           357
    92113     CA        SAN DIEGO                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    95667     CA        PLACERVILLE                      Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360201             360           357
    21206     MD        BALTIMORE                        Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    92054     CA        OCEANSIDE                        Condominium                         8.7       0.5       0    0.0055          0          8.1945        20360201             360           357
    33411     FL        ROYAL PALM BEAC                  Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    95203     CA        STOCKTON                         Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360201             360           357
    91766     CA        POMONA                           Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360201             360           357
    55301     MN        ALBERTVILLE                      Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360201             360           357
     1501     MA        AUBURN                           Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360201             360           357
    92840     CA        GARDEN GROVE                     Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360201             360           357
     2889     RI        WARWICK                          Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360201             360           357
    90602     CA        WHITTIER                         2-4 Family                         6.99       0.5       0    0.0055          0          6.4845        20360301             360           358
    92313     CA        GRAND TERRACE                    Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    55075     MN        SOUTH SAINT PAU                  Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    60073     IL        ROUND LAKE                       Single Family                      10.4       0.5       0    0.0055          0          9.8945        20360201             360           357
    20744     MD        FORT WASHINGTON                  Single Family                     10.45       0.5       0    0.0055          0          9.9445        20360201             360           357
    55426     MN        ST. LOUIS PARK                   Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360201             360           357
    90002     CA        LOS ANGELES                      Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360301             360           358
    60605     IL        CHICAGO                          Condominium                        8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    92557     CA        MORENO VALLEY                    Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360201             360           357
    33023     FL        HOLLYWOOD                        PUD                               6.875       0.5       0    0.0055          0          6.3695        20360301             360           358
    95204     CA        STOCKTON                         Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360201             360           357
    92335     CA        FONTANA                          Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    33147     FL        MIAMI                            Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360201             360           357
    60471     IL        RICHTON PARK                     Condominium                        9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    21040     MD        EDGEWOOD                         Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    60563     IL        NAPERVILLE                       PUD                                 7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    91767     CA        POMONA                           Condominium                         6.8       0.5       0    0.0055          0          6.2945        20360201             360           357
    80138     CO        PARKER                           Single Family                      7.15       0.5       0    0.0055          0          6.6445        20360201             360           357
    90805     CA        LONG BEACH                       2-4 Family                         5.99       0.5       0    0.0055          0          5.4845        20360201             360           357
    91001     CA        ALTADENA                         Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
    92530     CA        LAKE ELSINORE                    Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    55107     MN        SAINT PAUL                       PUD                                8.55       0.5       0    0.0055          0          8.0445        20360201             360           357
    60015     IL        DEERFIELD                        Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    55311     MN        MAPLE GROVE                      Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    21215     MD        BALTIMORE                        Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
    20634     MD        GREAT MILLS                      PUD                                7.85       0.5       0    0.0055          0          7.3445        20360201             360           357
    60626     IL        CHICAGO                          Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360201             360           357
    33445     FL        DELRAY BEACH                     Condominium                        8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    55448     MN        COON RAPIDS                      Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
    94520     CA        CONCORD                          Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    33024     FL        HOLLYWOOD                        Single Family                      6.85       0.5       0    0.0055          0          6.3445        20360201             360           357
    21801     MD        SALISBURY                        Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    94509     CA        ANTIOCH                          Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360201             360           357
     6511     CT        NEW HAVEN                        Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360301             360           358
    20602     MD        WALDORF                          Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360201             360           357
    55443     MN        BROOKLYN PARK                    Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360301             360           358
     1020     MA        CHICOPEE                         Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    20634     MD        GREAT MILLS                      Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    60425     IL        GLENWOOD                         Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360201             360           357
    55448     MN        COON RAPIDS                      Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360201             360           357
    92397     CA        WRIGHTWOOD                       Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
     2893     RI        WEST WARWICK                     Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    90022     CA        LOS ANGELES                      Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
     6384     CT        VOLUNTOWN                        Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360201             360           357
    20746     MD        SUITLAND                         Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    60126     IL        ELMHURST                         Single Family                       6.7       0.5       0    0.0055          0          6.1945        20360201             360           357
    91436     CA        ENCINO                           Single Family                       9.3       0.5       0    0.0055          0          8.7945        20360201             360           357
    90018     CA        LOS ANGELES                      Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    92503     CA        RIVERSIDE                        PUD                                7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    21224     MD        BALTIMORE                        Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360201             360           357
    60651     IL        CHICAGO                          2-4 Family                         9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
     6484     CT        SHELTON                          Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    21093     MD        TIMONIUM                         PUD                                9.55       0.5       0    0.0055          0          9.0445        20360301             360           358
    80233     CO        NORTHGLENN                       Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    80232     CO        LAKEWOOD                         Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360201             360           357
     2368     MA        RANDOLPH                         Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
    60617     IL        CHICAGO                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    56062     MN        MADELIA                          Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360201             360           357
    21152     MD        SPARKS GLENCOE                   Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
     2816     RI        COVENTRY                         Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360301             360           358
    92397     CA        WRIGHTWOOD                       Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    55128     MN        OAKDALE                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    60440     IL        BOLINGBROOK                      Condominium                         9.2       0.5       0    0.0055          0          8.6945        20360201             360           357
    95824     CA        SACRAMENTO                       Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360201             360           357
    21660     MD        RIDGELY                          Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360201             360           357
    92544     CA        HEMET                            Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
     2895     RI        WOONSOCKET                       2-4 Family                          7.2       0.5       0    0.0055          0          6.6945        20360201             360           357
    91791     CA        WEST COVINA                      Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360201             360           357
    95207     CA        STOCKTON                         Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    55112     MN        MOUNDS VIEW                      Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360201             360           357
    91744     CA        LA PUENTE                        Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360201             360           357
    20744     MD        FORT WASHINGTON                  Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360201             360           357
    90220     CA        COMPTON                          Single Family                       6.4       0.5       0    0.0055          0          5.8945        20360201             360           357
    92553     CA        MORENO VALLEY                    Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    92557     CA        MORENO VALLEY                    Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
    91345     CA        LOS ANGELES                      Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360201             360           357
     2865     RI        LINCOLN                          Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    90241     CA        DOWNEY                           Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360301             360           358
    20772     MD        UPPER MARLBORO                   PUD                                8.15       0.5       0    0.0055          0          7.6445        20360201             360           357
    20720     MD        BOWIE                            PUD                                 6.5       0.5       0    0.0055          0          5.9945        20360201             360           357
    20707     MD        LAUREL                           Condominium                         7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
     1603     MA        WORCESTER                        Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360201             360           357
    91762     CA        ONTARIO                          Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    60656     IL        CHICAGO                          Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360201             360           357
    92503     CA        RIVERSIDE                        Single Family                       8.1       0.5       0    0.0055          0          7.5945        20360201             360           357
    92886     CA        YORBA LINDA                      Single Family                       8.1       0.5       0    0.0055          0          7.5945        20360201             360           357
    21122     MD        PASADENA                         Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360201             360           357
    60445     IL        MIDLOTHIAN                       Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360201             360           357
    91763     CA        MONTCLAIR                        Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360201             360           357
    56303     MN        SAINT CLOUD                      Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    92376     CA        RIALTO                           Single Family                       6.8       0.5       0    0.0055          0          6.2945        20360201             360           357
    33018     FL        HIALEAH                          Single Family                      7.95       0.5       0    0.0055          0          7.4445        20360201             360           357
    55106     MN        SAINT PAUL                       Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
    20785     MD        HYATTSVILLE                      Condominium                        8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
     1075     MA        SOUTH HADLEY                     Single Family                      10.2       0.5       0    0.0055          0          9.6945        20360201             360           357
    33323     FL        SUNRISE                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    55441     MN        PLYMOUTH                         Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360201             360           357
    20735     MD        CLINTON                          PUD                                8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    55376     MN        SAINT MICHAEL                    Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360201             360           357
    21236     MD        NOTTINGHAM                       PUD                                7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
     2421     MA        LEXINGTON                        Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    91913     CA        CHULA VISTA                      PUD                                6.75       0.5       0    0.0055          0          6.2445        20360201             360           357
    92114     CA        SAN DIEGO                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    91723     CA        COVINA                           Condominium                        8.05       0.5       0    0.0055          0          7.5445        20360201             360           357
    94536     CA        FREMONT                          Single Family                       5.8       0.5       0    0.0055          0          5.2945        20360201             360           357
    91942     CA        LA MESA                          PUD                                6.35       0.5       0    0.0055          0          5.8445        20360301             360           358
    21224     MD        BALTIMORE                        Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    95605     CA        WEST SACRAMENTO                  Single Family                       6.9       0.5       0    0.0055          0          6.3945        20360201             360           357
    20747     MD        DISTRICT HEIGHT                  Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360201             360           357
    94806     CA        SAN PABLO                        Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
     2859     RI        BURRILLVILLE                     Single Family                       7.6       0.5       0    0.0055          0          7.0945        20260201             240           237
     2771     MA        SEEKONK                          Single Family                     10.95       0.5       0    0.0055          0         10.4445        20360201             360           357
    55429     MN        BROOKLYN CENTER                  Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    20774     MD        UPPER MARLBORO                   Single Family                      11.9       0.5       0    0.0055          0         11.3945        20360301             360           358
    80128     CO        LITTLETON                        Single Family                       5.9       0.5       0    0.0055          0          5.3945        20360201             360           357
    80020     CO        BROOMFIELD                       Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    21225     MD        BROOKLYN                         Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360201             360           357
    80020     CO        BROOMFIELD                       Single Family                     6.875       0.5       0    0.0055          0          6.3695        20360201             360           357
    33467     FL        LAKE WORTH                       Condominium                         7.9       0.5       0    0.0055          0          7.3945        20360201             360           357
    55337     MN        BURNSVILLE                       Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360201             360           357
     2831     RI        SCITUATE                         Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360201             360           357
    55337     MN        BURNSVILLE                       Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360201             360           357
     1109     MA        SPRINGFIELD                      Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360201             360           357
    20705     MD        BELTSVILLE                       Single Family                     6.875       0.5       0    0.0055          0          6.3695        20360301             360           358
    95843     CA        ANTELOPE                         Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    91764     CA        ONTARIO                          Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360201             360           357
    95351     CA        MODESTO                          Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360201             360           357
    55904     MN        ROCHESTER                        Single Family                      9.65       0.5       0    0.0055          0          9.1445        20360201             360           357
    60020     IL        FOX LAKE                         Single Family                     10.35       0.5       0    0.0055          0          9.8445        20360201             360           357
    55304     MN        ANDOVER                          Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360201             360           357
    60015     IL        DEERFIELD                        Condominium                       10.45       0.5       0    0.0055          0          9.9445        20360201             360           357
    92107     CA        SAN DIEGO                        Single Family                     7.125       0.5       0    0.0055          0          6.6195        20360201             360           357
    92831     CA        FULLERTON                        Condominium                        6.75       0.5       0    0.0055          0          6.2445        20360201             360           357
    55118     MN        WEST SAINT PAUL                  Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360201             360           357
    60195     IL        SCHAUMBURG                       Condominium                         8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    92154     CA        SAN DIEGO                        Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360201             360           357
    92020     CA        EL CAJON                         Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360201             360           357
    60430     IL        HOMEWOOD                         Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360201             360           357
    91744     CA        LA PUENTE                        PUD                                7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    60445     IL        CRESTWOOD                        Condominium                        9.25       0.5       0    0.0055          0          8.7445        20360201             360           357
    21222     MD        DUNDALK                          Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    91915     CA        CHULA VISTA                      PUD                                6.75       0.5       0    0.0055          0          6.2445        20360201             360           357
    90016     CA        LOS ANGELES                      Condominium                        8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    95330     CA        LATHROP                          Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360201             360           357
    90712     CA        LAKEWOOD                         Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360201             360           357
    55079     MN        LINWOOD                          Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    55044     MN        LAKEVILLE                        Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360201             360           357
    33165     FL        MIAMI                            Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360201             360           357
    21236     MD        NOTTINGHAM                       Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360201             360           357
    55411     MN        MINNEAPOLIS                      Single Family                       8.8       0.5       0    0.0055          0          8.2945        20360201             360           357
    90019     CA        LOS ANGELES                      Single Family                     7.125       0.5       0    0.0055          0          6.6195        20360201             360           357
    90660     CA        PICO RIVERA                      Condominium                         6.5       0.5       0    0.0055          0          5.9945        20360201             360           357
    91746     CA        LA PUENTE                        Single Family                      8.35       0.5       0    0.0055          0          7.8445        20360201             360           357
    91010     CA        DUARTE                           Single Family                      6.25       0.5       0    0.0055          0          5.7445        20360201             360           357
    55803     MN        DULUTH                           Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
     2861     RI        PAWTUCKET                        Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360201             360           357
     1085     MA        WESTFIELD                        Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360201             360           357
    55110     MN        WHITE BEAR LAKE                  Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360201             360           357
    94565     CA        PITTSBURG                        Single Family                       8.4       0.5       0    0.0055          0          7.8945        20360201             360           357
    20744     MD        FORT WASHINGTON                  Single Family                      6.25       0.5       0    0.0055          0          5.7445        20360101             360           356
    55066     MN        RED WING                         Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    92551     CA        MORENO VALLEY                    Single Family                       7.6       0.5       0    0.0055          0          7.0945        20360201             360           357
    56283     MN        REDWOOD FALLS                    Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360301             360           358
    21222     MD        DUNDALK                          Single Family                      6.85       0.5       0    0.0055          0          6.3445        20360201             360           357
    21046     MD        COLUMBIA                         Condominium                        6.99       0.5       0    0.0055          0          6.4845        20360201             360           357
    94509     CA        ANTIOCH                          Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    94547     CA        HERCULES                         Condominium                        8.55       0.5       0    0.0055          0          8.0445        20360201             360           357
    92027     CA        ESCONDIDO                        Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    55436     MN        EDINA                            Single Family                      8.65       0.5       0    0.0055          0          8.1445        20360201             360           357
    21102     MD        MANCHESTER                       Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360201             360           357
    95240     CA        LODI                             Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360101             360           356
    60634     IL        CHICAGO                          Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    91733     CA        SOUTH EL MONTE                   Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360201             360           357
    55009     MN        CANNON FALLS                     Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    55118     MN        WEST ST PAUL                     Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    33411     FL        ROYAL PALM BEAC                  PUD                                 9.9       0.5       0    0.0055          0          9.3945        20360201             360           357
    33066     FL        COCONUT CREEK                    Condominium                        9.35       0.5       0    0.0055          0          8.8445        20360201             360           357
    20774     MD        UPPER MARLBORO                   Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360101             360           356
    60641     IL        CHICAGO                          Single Family                      7.15       0.5       0    0.0055          0          6.6445        20360101             360           356
     1119     MA        SPRINGFIELD                      Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360201             360           357
    92114     CA        SAN DIEGO                        Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    21702     MD        FREDERICK                        Condominium                        6.75       0.5       0    0.0055          0          6.2445        20360101             360           356
    21207     MD        GWYNN OAK                        Single Family                      6.75       0.5       0    0.0055          0          6.2445        20210101             180           176
    92544     CA        HEMET                            Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360201             360           357
    93535     CA        LANCASTER                        Single Family                         7       0.5       0    0.0055          0          6.4945        20360201             360           357
    60612     IL        CHICAGO                          2-4 Family                         8.85       0.5       0    0.0055          0          8.3445        20360201             360           357
     6108     CT        EAST HARTFORD                    2-4 Family                          9.2       0.5       0    0.0055          0          8.6945        20360201             360           357
    21244     MD        WINDSOR MILL                     PUD                                 8.8       0.5       0    0.0055          0          8.2945        20360201             360           357
    33313     FL        LAUDERHILL                       Condominium                       10.65       0.5       0    0.0055          0         10.1445        20360201             360           357
    55411     MN        MINNEAPOLIS                      Single Family                     11.99       0.5       0    0.0055          0         11.4845        20360301             360           358
    33026     FL        PEMBROKE PINES                   Condominium                         6.7       0.5       0    0.0055          0          6.1945        20360201             360           357
     6517     CT        HAMDEN                           Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
     2889     RI        WARWICK                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    60046     IL        LAKE VILLA                       PUD                                9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    20785     MD        HYATTSVILLE                      Single Family                      6.25       0.5       0    0.0055          0          5.7445        20360101             360           356
     2885     RI        WARREN                           Single Family                      8.75       0.5       0    0.0055          0          8.2445        20260301             240           238
     2842     RI        MIDDLETOWN                       Single Family                       6.3       0.5       0    0.0055          0          5.7945        20360201             360           357
    21061     MD        GLEN BURNIE                      PUD                                 8.3       0.5       0    0.0055          0          7.7945        20360201             360           357
     1841     MA        LAWRENCE                         2-4 Family                          9.3       0.5       0    0.0055          0          8.7945        20360101             360           356
    91790     CA        WEST COVINA                      Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360201             360           357
    90620     CA        BUENA PARK                       Single Family                      8.55       0.5       0    0.0055          0          8.0445        20360201             360           357
     6515     CT        NEW HAVEN                        Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    95605     CA        WEST SACRAMENTO                  Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360101             360           356
    56368     MN        RICHMOND                         Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    55423     MN        RICHFIELD                        Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360101             360           356
    95841     CA        SACRAMENTO                       Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360101             360           356
    91803     CA        ALHAMBRA                         Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    21801     MD        SALISBURY                        Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360201             360           357
    80015     CO        AURORA                           Single Family                      8.55       0.5       0    0.0055          0          8.0445        20210101             180           176
     2125     MA        BOSTON                           2-4 Family                         11.4       0.5       0    0.0055          0         10.8945        20360101             360           356
    33462     FL        LANTANA                          Single Family                       8.2       0.5       0    0.0055          0          7.6945        20360101             360           356
    21804     MD        SALISBURY                        Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360201             360           357
    55060     MN        OWATONNA                         Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360201             360           357
    60651     IL        CHICAGO                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    21649     MD        MARYDEL                          Single Family                       6.5       0.5       0    0.0055          0          5.9945        20360101             360           356
    93550     CA        PALMDALE                         Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360201             360           357
    20772     MD        UPPER MARLBORO                   Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360101             360           356
    20747     MD        DISTRICT HEIGHT                  Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360101             360           356
    91501     CA        CALABASAS                        Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
    55304     MN        ANDOVER                          Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360101             360           356
     6360     CT        NORWICH                          2-4 Family                         8.99       0.5       0    0.0055          0          8.4845        20360101             360           356
    33024     FL        PEMBROKE PINES                   Condominium                        7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    61032     IL        FREEPORT                         2-4 Family                         7.99       0.5       0    0.0055          0          7.4845        20360101             360           356
    33411     FL        WEST PALM BEACH                  Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360201             360           357
    61032     IL        FREEPORT                         2-4 Family                         7.99       0.5       0    0.0055          0          7.4845        20360101             360           356
    55082     MN        STILLWATER                       Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360101             360           356
    33068     FL        FT.LAUDERDALE                    Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360201             360           357
    60107     IL        STREAMWOOD                       PUD                               6.175       0.5       0    0.0055          0          5.6695        20360101             360           356
    55418     MN        ST ANTHONY VILL                  Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360101             360           356
    95219     CA        STOCKTON                         PUD                                6.99       0.5       0    0.0055          0          6.4845        20360101             360           356
    61032     IL        FREEPORT                         2-4 Family                        7.375       0.5       0    0.0055          0          6.8695        20360101             360           356
    55731     MN        ELY                              Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360101             360           356
    21213     MD        BALTIMORE                        Single Family                      10.6       0.5       0    0.0055          0         10.0945        20360101             360           356
    55364     MN        MOUND                            Single Family                     7.125       0.5       0    0.0055          0          6.6195        20360101             360           356
    90305     CA        INGLEWOOD                        Condominium                        8.85       0.5       0    0.0055          0          8.3445        20360101             360           356
    33018     FL        HIALEAH                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360101             360           356
    80615     CO        EATON                            Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360101             360           356
    92802     CA        ANAHEIM                          Condominium                         6.5       0.5       0    0.0055          0          5.9945        20360101             360           356
    32065     FL        ORANGE PARK                      PUD                                9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
    60085     IL        WAUKEGAN                         Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360101             360           356
    60047     IL        LAKE ZURICH                      Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360201             360           357
    55107     MN        SAINT PAUL                       Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360101             360           356
     2368     MA        RANDOLPH                         2-4 Family                         7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    60523     IL        OAK BROOK                        PUD                                9.95       0.5       0    0.0055          0          9.4445        20360101             360           356
     1540     MA        OXFORD                           Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360201             360           357
    90805     CA        LONG BEACH                       Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360101             360           356
    33313     FL        FORT LAUDERDALE                  Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360101             360           356
    21740     MD        HAGERSTOWN                       Single Family                       7.8       0.5       0    0.0055          0          7.2945        20351201             360           355
    80601     CO        BRIGHTON                         Single Family                     7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    56011     MN        BELLE PLAINE                     Single Family                       7.1       0.5       0    0.0055          0          6.5945        20251201             240           235
    21655     MD        PRESTON                          Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360101             360           356
     1950     MA        NEWBURYPORT                      Single Family                      7.25       0.5       0    0.0055          0          6.7445        20351201             360           355
    60099     IL        ZION                             Single Family                      8.99       0.5       0    0.0055          0          8.4845        20351201             360           355
    34711     FL        CLERMONT                         PUD                                9.99       0.5       0    0.0055          0          9.4845        20351201             360           355
    60805     IL        EVERGREEN PARK                   Single Family                     7.625       0.5       0    0.0055          0          7.1195        20351201             360           355
    55311     MN        MAPLE GROVE                      Single Family                      6.85       0.5       0    0.0055          0          6.3445        20351201             360           355
    60085     IL        WAUKEGAN                         2-4 Family                         7.99       0.5       0    0.0055          0          7.4845        20351201             360           355
    90303     CA        INGLEWOOD                        2-4 Family                          7.7       0.5       0    0.0055          0          7.1945        20351201             360           355
     1108     MA        SPRINGFIELD                      2-4 Family                         10.5       0.5       0    0.0055          0          9.9945        20360201             360           357
    33311     FL        FORT LAUDERDALE                  Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360101             360           356
    20639     MD        HUNTINGTOWN                      Single Family                      6.35       0.5       0    0.0055          0          5.8445        20360101             360           356
    20743     MD        CAPITOL HEIGHTS                  Single Family                      8.75       0.5       0    0.0055          0          8.2445        20351201             360           355
    60411     IL        SAUK VILLAGE                     Single Family                      9.99       0.5       0    0.0055          0          9.4845        20351201             360           355
    56031     MN        FAIRMONT                         Single Family                      7.99       0.5       0    0.0055          0          7.4845        20351201             360           355
    55009     MN        CANNON FALLS                     Single Family                       8.3       0.5       0    0.0055          0          7.7945        20351201             360           355
    90222     CA        COMPTON                          Single Family                       7.3       0.5       0    0.0055          0          6.7945        20351201             360           355
    56007     MN        ALBERT LEA                       Single Family                      10.2       0.5       0    0.0055          0          9.6945        20360201             360           357
    80211     CO        DENVER                           Single Family                     5.875       0.5       0    0.0055          0          5.3695        20351201             360           355
    60440     IL        BOLINGBROOK                      Single Family                      8.25       0.5       0    0.0055          0          7.7445        20351201             360           355
    55420     MN        BLOOMINGTON                      Single Family                      7.05       0.5       0    0.0055          0          6.5445        20351201             360           355
    55443     MN        BROOKLYN PARK                    Single Family                       6.4       0.5       0    0.0055          0          5.8945        20351201             360           355
    33010     FL        HIALEAH                          Single Family                      6.99       0.5       0    0.0055          0          6.4845        20351201             360           355
    95210     CA        STOCKTON                         Single Family                      5.99       0.5       0    0.0055          0          5.4845        20351101             360           354
     6437     CT        GUILFORD                         Single Family                      7.75       0.5       0    0.0055          0          7.2445        20351101             360           354
    92026     CA        ESCONDIDO                        Condominium                         6.9       0.5       0    0.0055          0          6.3945        20351101             360           354
    55418     MN        ST. ANTHONY                      Single Family                       7.6       0.5       0    0.0055          0          7.0945        20351201             360           355
    55021     MN        FARIBAULT                        2-4 Family                        7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    80129     CO        LITTLETON                        PUD                                 5.5       0.5       0    0.0055          0          4.9945        20351101             360           354
    55316     MN        CHAMPLIN                         Single Family                      6.25       0.5       0    0.0055          0          5.7445        20351101             360           354
     1420     MA        FITCHBURG                        2-4 Family                         6.75       0.5       0    0.0055          0          6.2445        20351201             360           355
    92154     CA        SAN DIEGO                        Single Family                         6       0.5       0    0.0055          0          5.4945        20351101             360           354
    95240     CA        LODI                             Single Family                       7.9       0.5       0    0.0055          0          7.3945        20351201             360           355
    60901     IL        KANKAKEE                         Single Family                      7.99       0.5       0    0.0055          0          7.4845        20351101             360           354
    55040     MN        ISANTI                           Single Family                      6.99       0.5       0    0.0055          0          6.4845        20351101             360           354
    92656     CA        ALISO VIEJO                      Condominium                        6.85       0.5       0    0.0055          0          6.3445        20351101             360           354
    60609     IL        CHICAGO                          2-4 Family                         9.99       0.5       0    0.0055          0          9.4845        20351101             360           354
    56537     MN        FERGUS FALLS                     Single Family                      10.1       0.5       0    0.0055          0          9.5945        20351101             360           354
    60060     IL        MUNDELEIN                        Condominium                        7.35       0.5       0    0.0055          0          6.8445        20351101             360           354
    91977     CA        SPRING VALLEY                    Single Family                      5.99       0.5       0    0.0055          0          5.4845        20351101             360           354
    95368     CA        SALIDA                           Single Family                       5.8       0.5       0    0.0055          0          5.2945        20351101             360           354
     1022     MA        CHICOPEE                         Condominium                         7.5       0.5       0    0.0055          0          6.9945        20351101             360           354
    91103     CA        PASADENA                         Single Family                       5.9       0.5       0    0.0055          0          5.3945        20351101             360           354
    55029     MN        GRANDY                           Single Family                       8.5       0.5       0    0.0055          0          7.9945        20351001             360           353
    92544     CA        HEMET                            Single Family                      7.85       0.5       0    0.0055          0          7.3445        20351101             360           354
    21012     MD        ARNOLD                           Single Family                       6.5       0.5       0    0.0055          0          5.9945        20351101             360           354
    95667     CA        PLACERVILLE                      Single Family                      6.99       0.5       0    0.0055          0          6.4845        20351101             360           354
    55987     MN        WINONA                           Single Family                      8.25       0.5       0    0.0055          0          7.7445        20351101             360           354
    94544     CA        HAYWARD                          Single Family                      8.05       0.5       0    0.0055          0          7.5445        20360201             360           357
    92563     CA        MURRIETA                         Single Family                      6.85       0.5       0    0.0055          0          6.3445        20351001             360           353
    60099     IL        ZION                             Single Family                     6.125       0.5       0    0.0055          0          5.6195        20351101             360           354
    91792     CA        WEST COVINA                      Single Family                      5.75       0.5       0    0.0055          0          5.2445        20351001             360           353
    95602     CA        AUBURN                           PUD                                5.99       0.5       0    0.0055          0          5.4845        20351101             360           354
    92865     CA        ORANGE                           Single Family                      5.85       0.5       0    0.0055          0          5.3445        20351001             360           353
    33060     FL        POMPANO BEACH                    Single Family                       9.1       0.5       0    0.0055          0          8.5945        20351101             360           354
    91745     CA        HACIENDA HEIGHT                  Single Family                      5.75       0.5       0    0.0055          0          5.2445        20351001             360           353
    60060     IL        MUNDELEIN                        Single Family                      6.65       0.5       0    0.0055          0          6.1445        20351001             360           353
    95683     CA        SLOUGHHOUSE                      PUD                                 6.7       0.5       0    0.0055          0          6.1945        20351001             360           353
    92154     CA        SAN DIEGO                        Single Family                      5.99       0.5       0    0.0055          0          5.4845        20351001             360           353
    21085     MD        JOPPA                            PUD                                6.65       0.5       0    0.0055          0          6.1445        20351001             360           353
    55074     MN        SHAFER                           Single Family                       9.2       0.5       0    0.0055          0          8.6945        20351001             360           353
    60193     IL        SCHAUMBURG                       Single Family                       6.5       0.5       0    0.0055          0          5.9945        20351001             360           353
    60429     IL        HAZEL CREST                      Single Family                      9.99       0.5       0    0.0055          0          9.4845        20351101             360           354
    20716     MD        BOWIE                            Single Family                       5.6       0.5       0    0.0055          0          5.0945        20351001             360           353
    90040     CA        COMMERCE                         Single Family                       6.3       0.5       0    0.0055          0          5.7945        20351001             360           353
    91040     CA        SUNLAND                          Single Family                      6.15       0.5       0    0.0055          0          5.6445        20351001             360           353
    21075     MD        ELKRIDGE                         Single Family                       6.9       0.5       0    0.0055          0          6.3945        20351001             360           353
    92592     CA        TEMECULA                         PUD                                 5.5       0.5       0    0.0055          0          4.9945        20351001             360           353
     2886     RI        WARWICK                          Single Family                      8.99       0.5       0    0.0055          0          8.4845        20201001             180           173
    21230     MD        BALTIMORE                        Single Family                       8.4       0.5       0    0.0055          0          7.8945        20351001             360           353
    92057     CA        OCEANSIDE                        Single Family                      6.65       0.5       0    0.0055          0          6.1445        20351001             360           353
    92880     CA        CORONA                           Single Family                         6       0.5       0    0.0055          0          5.4945        20351001             360           353
    91977     CA        SPRING VALLEY                    Single Family                       8.5       0.5       0    0.0055          0          7.9945        20351001             360           353
    33142     FL        MIAMI                            Single Family                       8.5       0.5       0    0.0055          0          7.9945        20351001             360           353
    91911     CA        CHULA VISTA                      PUD                                 6.3       0.5       0    0.0055          0          5.7945        20351001             360           353
    92114     CA        SAN DIEGO                        Single Family                       6.3       0.5       0    0.0055          0          5.7945        20351001             360           353
    21133     MD        RANDALLSTOWN                     Single Family                     6.375       0.5       0    0.0055          0          5.8695        20201001             180           173
    55126     MN        SHOREVIEW                        Single Family                      7.35       0.5       0    0.0055          0          6.8445        20351001             360           353
    93550     CA        PALMDALE                         Single Family                       6.7       0.5       0    0.0055          0          6.1945        20351001             360           353
    80013     CO        AURORA                           Single Family                      6.25       0.5       0    0.0055          0          5.7445        20351001             360           353
    60804     IL        CICERO                           Single Family                     6.875       0.5       0    0.0055          0          6.3695        20351001             360           353
    94124     CA        SAN FRANCISCO                    Single Family                      6.25       0.5       0    0.0055          0          5.7445        20351001             360           353
    60073     IL        ROUND LAKE                       Single Family                         6       0.5       0    0.0055          0          5.4945        20351001             360           353
    33028     FL        HOLLYWOOD                        Single Family                      6.65       0.5       0    0.0055          0          6.1445        20351001             360           353
    92530     CA        LAKE ELSINORE                    Single Family                      6.25       0.5       0    0.0055          0          5.7445        20351001             360           353
    60091     IL        WILMETTE                         Single Family                      9.99       0.5       0    0.0055          0          9.4845        20351001             360           353
    91791     CA        WEST COVINA                      PUD                                9.99       0.5       0    0.0055          0          9.4845        20350901             360           352
     2453     MA        WALTHAM                          Single Family                      5.99       0.5       0    0.0055          0          5.4845        20351001             360           353
     1521     MA        HOLLAND                          Single Family                      6.25       0.5       0    0.0055          0          5.7445        20350801             360           351
    20191     VA        RESTON                           PUD                                 8.7       0.5       0    0.0055          0          8.1945        20360101             360           356
    43082     OH        WESTERVILLE                      Single Family                      11.5       0.5       0    0.0055          0         10.9945        20210301             180           178
    20743     MD        CAPITOL HEIGHTS                  Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
    43229     OH        COLUMBUS                         Single Family                      8.85       0.5       0    0.0055          0          8.3445        20360101             360           356
    20012     DC        WASHINGTON                       Single Family                       6.7       0.5       0    0.0055          0          6.1945        20360301             360           358
    27295     NC        LEXINGTON                        Single Family                       8.1       0.5       0    0.0055          0          7.5945        20360301             360           358
    19805     DE        WILMINGTON                       Single Family                      8.85       0.5       0    0.0055          0          8.3445        20360301             360           358
    27615     NC        RALEIGH                          PUD                                7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    20011     DC        WASHINGTON                       Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360301             360           358
    21227     MD        HALETHORPE                       Condominium                        9.95       0.5       0    0.0055          0          9.4445        20360301             360           358
    44107     OH        LAKEWOOD                         Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    17402     PA        YORK                             Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360301             360           358
    17402     PA        YORK                             2-4 Family                         10.5       0.5       0    0.0055          0          9.9945        20360301             360           358
    22968     VA        RUCKERSVILLE                     Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360201             360           357
    15108     PA        CORAOPOLIS                       Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
    28711     NC        BLACK MOUNTAIN                   Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    92557     CA        MORENO VALLEY                    PUD                                11.5       0.5       0    0.0055          0         10.9945        20210201             180           177
    93535     CA        LANCASTER                        Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
    33178     FL        MIAMI                            PUD                                 7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    33024     FL        PEMBROKE PINES                   Single Family                     12.25       0.5       0    0.0055          0         11.7445        20210301             180           178
    33012     FL        HIALEAH                          Condominium                       9.525       0.5       0    0.0055          0          9.0195        20360301             360           358
    33144     FL        MIAMI                            Single Family                     7.875       0.5       0    0.0055          0          7.3695        20360201             360           357
    93535     CA        LANCASTER                        2-4 Family                         9.65       0.5       0    0.0055          0          9.1445        20360201             360           357
    34953     FL        PORT SAINT LUCI                  Single Family                      9.55       0.5       0    0.0055          0          9.0445        20360201             360           357
    19141     PA        PHILADELPHIA                     Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    94806     CA        RICHMOND                         Single Family                     9.725       0.5       0    0.0055          0          9.2195        20360201             360           357
    36608     AL        MOBILE                           Single Family                      11.1       0.5       0    0.0055          0         10.5945        20360201             360           357
    33143     FL        MIAMI                            Condominium                        10.8       0.5       0    0.0055          0         10.2945        20210201             180           177
    19146     PA        PHILADELPHIA                     Single Family                       9.2       0.5       0    0.0055          0          8.6945        20360301             360           358
    45255     OH        CINCINNATI                       Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360201             360           357
    19138     PA        PHILADELPHIA                     2-4 Family                        9.863       0.5       0    0.0055          0          9.3575        20360101             360           356
    33417     FL        WEST PALM BEACH                  Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360201             360           357
    19128     PA        PHILADELPHIA                     Single Family                         9       0.5       0    0.0055          0          8.4945        20360201             360           357
    56452     MN        SACKENSACK                       Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
    56452     MN        HACKENSACK                       Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
    33138     FL        MIAMI                            2-4 Family                        10.65       0.5       0    0.0055          0         10.1445        20210301             180           178
    33138     FL        MIAMI                            2-4 Family                         7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    56452     MN        HACKENSACK                       Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360301             360           358
    93550     CA        PALMDALE                         2-4 Family                         8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    95963     CA        ORLAND                           Single Family                      6.75       0.5       0    0.0055          0          6.2445        20360301             360           358
    92220     CA        BANNING                          Single Family                     7.675       0.5       0    0.0055          0          7.1695        20360301             360           358
    93436     CA        LOMPOC                           Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360301             360           358
    85037     AZ        PHOENIX                          Single Family                      9.35       0.5       0    0.0055          0          8.8445        20360201             360           357
    91701     CA        RANCHO CUCAMONGA                 Single Family                     12.25       0.5       0    0.0055          0         11.7445        20210301             180           178
    91701     CA        RANCHO CUCAMONGA                 Single Family                     8.575       0.5       0    0.0055          0          8.0695        20360301             360           358
    93550     CA        PALMDALE AREA                    2-4 Family                          9.1       0.5       0    0.0055          0          8.5945        20360301             360           358
    32413     FL        PANAMA CITY BEACH                Single Family                     11.75       0.5       0    0.0055          0         11.2445        20210301             180           178
    93535     CA        LANCASTER                        Single Family                     8.987       0.5       0    0.0055          0          8.4815        20360201             360           357
    32301     FL        TALLAHASSEE                      Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360201             360           357
    91351     CA        (CANYON COUNTRY                  Condominium                       8.525       0.5       0    0.0055          0          8.0195        20360201             360           357
    92707     CA        SANTA ANA                        Condominium                       11.75       0.5       0    0.0055          0         11.2445        20210101             180           176
    92707     CA        SANTA ANA                        Condominium                       7.825       0.5       0    0.0055          0          7.3195        20360101             360           356
    91350     CA        SAUGUS AREA                      PUD                                 8.4       0.5       0    0.0055          0          7.8945        20360101             360           356
    93552     CA        PALMDALE                         Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360101             360           356
    92832     CA        FULLERTON                        Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360301             360           358
    93535     CA        LANCASTER                        Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    90018     CA        LOS ANGELES                      Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    77064     TX        HOUSTON                          Single Family                      8.55       0.5       0    0.0055          0          8.0445        20360301             360           358
    77581     TX        PEARLAND                         PUD                               12.75       0.5       0    0.0055          0         12.2445        20210301             180           178
    77084     TX        HOUSTON                          PUD                                12.5       0.5       0    0.0055          0         11.9945        20210201             180           177
    77084     TX        HOUSTON                          PUD                                 8.3       0.5       0    0.0055          0          7.7945        20360201             360           357
    77581     TX        PEARLAND                         PUD                                 8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    77004     TX        HOUSTON                          Single Family                      13.4       0.5       0    0.0055          0         12.8945        20210301             180           178
    77004     TX        HOUSTON                          Townhouse                          9.01       0.5       0    0.0055          0          8.5045        20360301             360           358
    77006     TX        HOUSTON                          Single Family                      13.4       0.5       0    0.0055          0         12.8945        20210201             180           177
    77006     TX        HOUSTON                          Single Family                       8.9       0.5       0    0.0055          0          8.3945        20360201             360           357
    75038     TX        IRVING                           Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360301             360           358
    77389     TX        SPRING                           Single Family                     12.35       0.5       0    0.0055          0         11.8445        20360201             360           357
    77389     TX        SPRING                           Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360201             360           357
    75021     TX        DENISON                          Single Family                     8.535       0.5       0    0.0055          0          8.0295        20360201             360           357
    85323     AZ        AVONDALE                         Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360201             360           357
    77494     TX        KATY                             PUD                                7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    63136     MO        SAINT LOUIS                      Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360101             360           356
    75229     TX        DALLAS                           Single Family                     7.075       0.5       0    0.0055          0          6.5695        20351101             360           354
    76048     TX        GRANBURY                         Single Family                      9.99       0.5       0    0.0055          0          9.4845        20201101             180           174
    76048     TX        GRANBURY                         Single Family                      7.24       0.5       0    0.0055          0          6.7345        20351101             360           354
    77429     TX        CYPRESS                          PUD                                8.49       0.5       0    0.0055          0          7.9845        20360201             360           357
    77429     TX        CYPRESS                          PUD                               10.75       0.5       0    0.0055          0         10.2445        20360201             360           357
    17407     PA        York                             Single Family                    11.625       0.5       0    0.0055          0         11.1195        20310401             300           299
    17407     PA        York                             Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360401             360           359
    48127     MI        Dearborn Heights                 Single Family                      11.5       0.5       0    0.0055          0         10.9945        20360401             360           359
    48127     MI        Dearborn Heights                 Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360401             360           359
    34677     FL        Oldsmar                          Condominium                       8.105       0.5       0    0.0055          0          7.5995        20360301             360           358
    21117     MD        Owings Mills                     Single Family                     9.705       0.5       0    0.0055          0          9.1995        20360301             360           358
     8846     NJ        Middlesex                        2-4 Family                        9.455       0.5       0    0.0055          0          8.9495        20360301             360           358
    48238     MI        Detroit                          Single Family                     10.49       0.5       0    0.0055          0          9.9845        20360401             360           359
    92392     CA        Victorville                      Single Family                     11.78       0.5       0    0.0055          0         11.2745        20260401             240           239
    92392     CA        Victorville                      Single Family                         9       0.5       0    0.0055          0          8.4945        20360401             360           359
    78207     TX        San Antonio                      Single Family                     10.85       0.5       0    0.0055          0         10.3445        20360401             360           359
    40229     KY        Louisville                       Single Family                      7.27       0.5       0    0.0055          0          6.7645        20360301             360           358
    55373     MN        Rockford                         Single Family                     12.97       0.5       0    0.0055          0         12.4645        20360401             360           359
    64152     MO        Parkville                        PUD                                 8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    46219     IN        Indianapolis                     Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360301             360           358
    95829     CA        Sacramento                       Single Family                     7.375       0.5       0    0.0055          0          6.8695        20360301             360           358
    43619     OH        Northwood                        Single Family                     13.02       0.5       0    0.0055          0         12.5145        20360401             360           359
    92392     CA        VICTORVILLE                      Single Family                     6.875       0.5       0    0.0055          0          6.3695        20360301             360           358
    48317     MI        SHELBY TWP                       Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    17777     PA        WATSONTOWN                       Single Family                     8.875       0.5       0    0.0055          0          8.3695        20360301             360           358
    43619     OH        Northwood                        Single Family                      9.39       0.5       0    0.0055          0          8.8845        20360401             360           359
    44212     OH        BRUNSWICK                        Single Family                     7.625       0.5       0    0.0055          0          7.1195        20360301             360           358
    23704     VA        PORTSMOUTH                       Single Family                         9       0.5       0    0.0055          0          8.4945        20360301             360           358
    19460     PA        PHOENIXVILLE                     Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    48164     MI        NEW BOSTON                       Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360301             360           358
    32208     FL        JACKSONVILLE                     Single Family                     9.375       0.5       0    0.0055          0          8.8695        20360301             360           358
    95833     CA        Sacramento                       Single Family                      9.22       0.5       0    0.0055          0          8.7145        20360401             360           359
    91344     CA        GRANADA HILLS                    Single Family                     7.625       0.5       0    0.0055          0          7.1195        20360301             360           358
    19406     PA        King Of Prussia                  Single Family                      9.81       0.5       0    0.0055          0          9.3045        20360401             360           359
    80204     CO        Denver                           Single Family                     12.47       0.5       0    0.0055          0         11.9645        20210401             180           179
    22407     VA        Fredericksburg                   Single Family                     7.725       0.5       0    0.0055          0          7.2195        20350901             360           352
    80204     CO        Denver                           Single Family                      8.38       0.5       0    0.0055          0          7.8745        20360401             360           359
    46012     IN        Anderson                         Single Family                     10.61       0.5       0    0.0055          0         10.1045        20360401             360           359
    20715     MD        Bowie                            Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    85225     AZ        Chandler                         Condominium                        8.35       0.5       0    0.0055          0          7.8445        20360401             360           359
    34772     FL        Saint Cloud                      PUD                                7.47       0.5       0    0.0055          0          6.9645        20360401             360           359
    55373     MN        Rockford                         Single Family                      8.84       0.5       0    0.0055          0          8.3345        20360401             360           359
    55109     MN        SAINT PAUL                       Single Family                     10.65       0.5       0    0.0055          0         10.1445        20360101             360           356
    53144     WI        HUDSON                           Single Family                      10.3       0.5       0    0.0055          0          9.7945        20360101             360           356
    55434     MN        BLAINE                           Single Family                      9.95       0.5       0    0.0055          0          9.4445        20360101             360           356
    55303     MN        RAMSEY                           PUD                                   9       0.5       0    0.0055          0          8.4945        20360101             360           356
    60544     IL        WESTCHESTER                      Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360101             360           356
    53098     WI        WATERTOWN                        Single Family                      9.55       0.5       0    0.0055          0          9.0445        20360101             360           356
    60409     IL        CALUMET CITY                     2-4 Family                       12.625       0.5       0    0.0055          0         12.1195        20360101             360           356
    33991     FL        Cape Coral                       2-4 Family                         9.37       0.5       0    0.0055          0          8.8645        20360401             360           359
    46016     IN        Anderson                         Single Family                     10.61       0.5       0    0.0055          0         10.1045        20360401             360           359
    85250     AZ        Scottsdale                       PUD                              10.625       0.5       0    0.0055          0         10.1195        20360301             360           358
    83703     ID        Boise                            Single Family                     7.625       0.5       0    0.0055          0          7.1195        20360301             360           358
    47130     IN        Jeffersonville                   Single Family                      8.36       0.5       0    0.0055          0          7.8545        20360301             360           358
    15129     PA        South Park                       Single Family                     8.375       0.5       0    0.0055          0          7.8695        20360301             360           358
    34761     FL        Ocoee                            Single Family                     7.437       0.5       0    0.0055          0          6.9315        20360301             360           358
    98513     WA        OLYMPIA                          Single Family                     10.55       0.5       0    0.0055          0         10.0445        20360401             360           359
    29649     SC        Greenwood                        Single Family                    10.175       0.5       0    0.0055          0          9.6695        20351201             360           355
    98671     WA        Washougal                        Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360301             360           358
    46224     IN        Indianapolis                     Single Family                     13.02       0.5       0    0.0055          0         12.5145        20360401             360           359
    46224     IN        Indianapolis                     Single Family                      8.89       0.5       0    0.0055          0          8.3845        20360401             360           359
    91744     CA        La Puente                        Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    85017     AZ        Phoenix                          Single Family                     9.625       0.5       0    0.0055          0          9.1195        20360301             360           358
    85635     AZ        Sierra Vista                     Single Family                     11.42       0.5       0    0.0055          0         10.9145        20260401             240           239
    29803     SC        Aiken                            Single Family                      10.8       0.5       0    0.0055          0         10.2945        20360301             360           358
    85635     AZ        Sierra Vista                     Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360401             360           359
    33141     FL        Miami Beach                      Condominium                        8.38       0.5       0    0.0055          0          7.8745        20360401             360           359
    93630     CA        Kerman                           Single Family                         8       0.5       0    0.0055          0          7.4945        20360301             360           358
    33032     FL        MIAMI                            Single Family                     7.875       0.5       0    0.0055          0          7.3695        20360301             360           358
    32073     FL        Orange Park                      PUD                                9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    83642     ID        Meridian                         PUD                                7.25       0.5       0    0.0055          0          6.7445        20360301             360           358
    23228     VA        Richmond                         Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    98684     WA        Vancouver                        Single Family                     7.875       0.5       0    0.0055          0          7.3695        20360301             360           358
    33484     FL        Delray Beach                     PUD                                8.75       0.5       0    0.0055          0          8.2445        20360401             360           359
    95206     CA        Stockton                         Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360301             360           358
    80219     CO        Denver                           Single Family                    12.125       0.5       0    0.0055          0         11.6195        20360301             360           358
    80219     CO        Denver                           Single Family                      7.45       0.5       0    0.0055          0          6.9445        20360301             360           358
    95242     CA        Lodi                             Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    19702     DE        Newark                           Single Family                     11.47       0.5       0    0.0055          0         10.9645        20210401             180           179
    19702     DE        Newark                           Single Family                      7.43       0.5       0    0.0055          0          6.9245        20360401             360           359
    32809     FL        Orlando                          Single Family                     7.125       0.5       0    0.0055          0          6.6195        20360301             360           358
    19032     PA        Folcroft                         Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360301             360           358
    32837     FL        Orlando                          Single Family                      10.3       0.5       0    0.0055          0          9.7945        20360401             360           359
    34744     FL        Kissimmee                        Single Family                    10.125       0.5       0    0.0055          0          9.6195        20360301             360           358
     3048     NH        Greenville                       Single Family                       6.5       0.5       0    0.0055          0          5.9945        20351201             360           355
    53215     WI        Milwaukee                        2-4 Family                        12.22       0.5       0    0.0055          0         11.7145        20210401             180           179
    53215     WI        Milwaukee                        2-4 Family                         9.53       0.5       0    0.0055          0          9.0245        20360401             360           359
    85022     AZ        Phoenix                          Single Family                     8.775       0.5       0    0.0055          0          8.2695        20210301             180           178
    48180     MI        Taylor                           Single Family                      10.7       0.5       0    0.0055          0         10.1945        20360401             360           359
    93291     CA        VISALIA                          Single Family                      8.24       0.5       0    0.0055          0          7.7345        20360401             360           359
    33351     FL        Sunrise                          Condominium                        9.42       0.5       0    0.0055          0          8.9145        20360401             360           359
    17545     PA        Manheim                          Single Family                    12.435       0.5       0    0.0055          0         11.9295        20360301             360           358
    19050     PA        Lansdowne                        Single Family                      9.04       0.5       0    0.0055          0          8.5345        20360401             360           359
    19020     PA        Bensalem                         Single Family                      7.93       0.5       0    0.0055          0          7.4245        20360401             360           359
    54930     WI        COLOMA                           Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    53210     WI        MILWAUKEE                        Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360201             360           357
    55429     MN        BROOKLYN PARK                    PUD                              10.125       0.5       0    0.0055          0          9.6195        20360201             360           357
    53186     WI        WAUKESHA                         Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    56011     MN        BELLE PLAINE                     Single Family                     6.625       0.5       0    0.0055          0          6.1195        20360201             360           357
    60641     IL        CHICAGO                          Single Family                      8.55       0.5       0    0.0055          0          8.0445        20360201             360           357
    53406     WI        RACINE                           Condominium                       11.65       0.5       0    0.0055          0         11.1445        20360101             360           356
    53406     WI        RACINE                           Condominium                        7.95       0.5       0    0.0055          0          7.4445        20360101             360           356
    55110     MN        WHITE BEAR LAKE                  Condominium                        7.65       0.5       0    0.0055          0          7.1445        20360101             360           356
    60644     IL        CHICAGO                          Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360101             360           356
    53121     WI        ELKHORN                          Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360101             360           356
    55434     MN        BLAINE                           Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360101             360           356
    60104     IL        BELLWOOD                         Single Family                      7.49       0.5       0    0.0055          0          6.9845        20360101             360           356
    55904     MN        ROCHESTER                        Single Family                      6.95       0.5       0    0.0055          0          6.4445        20360101             360           356
    60544     IL        PLAINFIELD                       PUD                                9.99       0.5       0    0.0055          0          9.4845        20351201             360           355
    55372     MN        PRIOR LAKE                       Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360101             360           356
    60605     IL        CHICAGO                          Condominium                        9.99       0.5       0    0.0055          0          9.4845        20351101             360           354
    46151     IN        Martinsville                     Single Family                     11.75       0.5       0    0.0055          0         11.2445        20360301             360           358
    33852     FL        Lake Placid                      Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360401             360           359
    23666     VA        Hampton                          Single Family                     9.925       0.5       0    0.0055          0          9.4195        20360401             360           359
    33909     FL        CAPE CORAL                       Single Family                      7.61       0.5       0    0.0055          0          7.1045        20360401             360           359
    78244     TX        San Antonio                      PUD                               9.875       0.5       0    0.0055          0          9.3695        20260201             240           237
    78244     TX        San Antonio                      PUD                                7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    55444     MN        Brooklyn Center                  Single Family                     9.375       0.5       0    0.0055          0          8.8695        20360401             360           359
    78266     TX        San Antonio                      PUD                               9.875       0.5       0    0.0055          0          9.3695        20260101             240           236
    78266     TX        San Antonio                      PUD                                9.24       0.5       0    0.0055          0          8.7345        20360101             360           356
    46016     IN        Anderson                         Single Family                     11.67       0.5       0    0.0055          0         11.1645        20360401             360           359
    46011     IN        Anderson                         Single Family                     11.67       0.5       0    0.0055          0         11.1645        20360401             360           359
    92335     CA        FONTANA                          Single Family                     11.09       0.5       0    0.0055          0         10.5845        20360401             360           359
    19803     DE        Wilmington                       Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360401             360           359
    28027     NC        Concord                          Single Family                     7.705       0.5       0    0.0055          0          7.1995        20360301             360           358
    85323     AZ        Avondale                         PUD                               12.27       0.5       0    0.0055          0         11.7645        20360401             360           359
    85323     AZ        Avondale                         PUD                                8.58       0.5       0    0.0055          0          8.0745        20360401             360           359
    92236     CA        Coachella                        Single Family                     9.875       0.5       0    0.0055          0          9.3695        20360301             360           358
    86426     AZ        Fort Mohave                      Single Family                     7.925       0.5       0    0.0055          0          7.4195        20351201             360           355
    63119     MO        SAINT LOUIS                      Single Family                       8.4       0.5       0    0.0055          0          7.8945        20360301             360           358
    53227     WI        West Allis                       Single Family                     11.75       0.5       0    0.0055          0         11.2445        20360401             360           359
    48223     MI        Detroit                          Single Family                        10       0.5       0    0.0055          0          9.4945        20360301             360           358
    53227     WI        West Allis                       Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360401             360           359
    78233     TX        San Antonio                      Single Family                     10.49       0.5       0    0.0055          0          9.9845        20360101             360           356
    21229     MD        Baltimore                        Single Family                     6.875       0.5       0    0.0055          0          6.3695        20360401             360           359
    63021     MO        FLORISANT                        Single Family                      10.5       0.5       0    0.0055          0          9.9945        20260201             240           237
    33309     FL        Oakland Park                     Condominium                        8.98       0.5       0    0.0055          0          8.4745        20360401             360           359
    85648     AZ        RIO RICO                         Single Family                      7.78       0.5       0    0.0055          0          7.2745        20360401             360           359
    24441     VA        Grottoes                         Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360401             360           359
    77004     TX        Houston                          2-4 Family                          8.5       0.5       0    0.0055          0          7.9945        20351101             360           354
     8234     NJ        Egg Harbor Township              Single Family                     12.92       0.5       0    0.0055          0         12.4145        20210301             180           178
     8234     NJ        Egg Harbor Township              Single Family                      9.04       0.5       0    0.0055          0          8.5345        20360301             360           358
    63945     MO        Harviell                         Single Family                      7.28       0.5       0    0.0055          0          6.7745        20360401             360           359
    55959     MN        Minnesota City                   Single Family                      7.98       0.5       0    0.0055          0          7.4745        20360401             360           359
    34758     FL        Kissimmee                        PUD                                7.46       0.5       0    0.0055          0          6.9545        20360401             360           359
    92703     CA        Santa Ana                        Single Family                      11.5       0.5       0    0.0055          0         10.9945        20210301             180           178
    92703     CA        Santa Ana                        Single Family                         8       0.5       0    0.0055          0          7.4945        20360301             360           358
    33559     FL        Lutz                             PUD                                 7.3       0.5       0    0.0055          0          6.7945        20360401             360           359
    32720     FL        Deland                           Single Family                     8.615       0.5       0    0.0055          0          8.1095        20360301             360           358
    30213     GA        Fairburn                         PUD                                8.75       0.5       0    0.0055          0          8.2445        20351201             360           355
    34234     FL        Sarasota                         Single Family                     6.645       0.5       0    0.0055          0          6.1395        20260201             240           237
    30120     GA        Cartersville                     PUD                               11.98       0.5       0    0.0055          0         11.4745        20210201             180           177
    30034     GA        Decatur                          Single Family                       8.2       0.5       0    0.0055          0          7.6945        20360301             360           358
    33618     FL        Tampa                            Single Family                     11.97       0.5       0    0.0055          0         11.4645        20360201             360           357
    32244     FL        JACKSONVILLE                     PUD                                 8.6       0.5       0    0.0055          0          8.0945        20360401             360           359
    19977     DE        Smyrna                           Single Family                      8.95       0.5       0    0.0055          0          8.4445        20360301             360           358
    61265     IL        MOLINE                           Single Family                      9.63       0.5       0    0.0055          0          9.1245        20360301             360           358
    89032     NV        North Las Vegas                  Condominium                       7.125       0.5       0    0.0055          0          6.6195        20360301             360           358
    86403     AZ        LAKE HAVASU CITY                 Single Family                     11.02       0.5       0    0.0055          0         10.5145        20360401             360           359
    32920     FL        CAPE CANAVERAL                   PUD                                9.21       0.5       0    0.0055          0          8.7045        20360401             360           359
    19464     PA        Pottstown                        Townhouse                            10       0.5       0    0.0055          0          9.4945        20360301             360           358
    11702     NY        Babylon                          Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360301             360           358
     8081     NJ        Sicklerville                     Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360301             360           358
    63137     MO        Saint Louis                      Single Family                     9.825       0.5       0    0.0055          0          9.3195        20360401             360           359
    33126     FL        MIAMI                            Condominium                       11.95       0.5       0    0.0055          0         11.4445        20360301             360           358
    33126     FL        MIAMI                            Condominium                        8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    78216     TX        San Antonio                      Single Family                     10.59       0.5       0    0.0055          0         10.0845        20360401             360           359
    85041     AZ        PHOENIX                          PUD                                9.48       0.5       0    0.0055          0          8.9745        20360301             360           358
    78223     TX        San Antonio                      Single Family                      9.99       0.5       0    0.0055          0          9.4845        20350901             360           352
    85033     AZ        PHOENIX                          Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360301             360           358
    80540     CO        Lyons                            Single Family                      8.54       0.5       0    0.0055          0          8.0345        20360401             360           359
    85364     AZ        Yuma                             Single Family                      10.8       0.5       0    0.0055          0         10.2945        20360301             360           358
    92314     CA        Big Bear City Area               Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360301             360           358
    31069     GA        Perry                            Single Family                    10.545       0.5       0    0.0055          0         10.0395        20360401             360           359
    22482     VA        Kilmarnock                       Single Family                     11.65       0.5       0    0.0055          0         11.1445        20260401             240           239
    22482     VA        Kilmarnock                       Single Family                      7.54       0.5       0    0.0055          0          7.0345        20360401             360           359
    93705     CA        FRESNO                           Single Family                     10.83       0.5       0    0.0055          0         10.3245        20360301             360           358
    80433     CO        Conifer                          Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    83501     ID        LEWISTON                         Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360101             360           356
    30315     GA        Atlanta                          Single Family                        12       0.5       0    0.0055          0         11.4945        20210301             180           178
    30315     GA        Atlanta                          Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360301             360           358
    33881     FL        Winter Haven                     Single Family                     12.15       0.5       0    0.0055          0         11.6445        20201201             180           175
    33881     FL        Winter Haven                     Single Family                      7.99       0.5       0    0.0055          0          7.4845        20351201             360           355
    33308     FL        Fort Lauderdale                  Condominium                         7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    92173     CA        San Diego                        Condominium                         7.5       0.5       0    0.0055          0          6.9945        20351201             360           355
    11727     NY        Coram                            Single Family                      7.85       0.5       0    0.0055          0          7.3445        20360401             360           359
    90220     CA        COMPTON                          Single Family                      8.53       0.5       0    0.0055          0          8.0245        20360301             360           358
    32130     FL        DE LEON SPRINGS                  Single Family                     12.67       0.5       0    0.0055          0         12.1645        20260301             240           238
    40241     KY        Louisville                       Single Family                    10.375       0.5       0    0.0055          0          9.8695        20360301             360           358
    98270     WA        Marysville                       Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360401             360           359
    92704     CA        Santa Ana                        Condominium                       12.25       0.5       0    0.0055          0         11.7445        20210301             180           178
    17020     PA        Duncannon                        Single Family                      8.75       0.5       0    0.0055          0          8.2445        20360301             360           358
    98391     WA        Bonney Lake                      Single Family                      9.74       0.5       0    0.0055          0          9.2345        20360401             360           359
    94605     CA        Oakland                          Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360301             360           358
    85303     AZ        Glendale                         Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360401             360           359
    32130     FL        DE LEON SPRINGS                  Single Family                      7.79       0.5       0    0.0055          0          7.2845        20360301             360           358
    56243     MN        GROVE CITY                       Single Family                     12.29       0.5       0    0.0055          0         11.7845        20360301             360           358
     1588     MA        Whitinsville                     Single Family                     7.875       0.5       0    0.0055          0          7.3695        20360101             360           356
    93277     CA        VISALIA                          Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360301             360           358
    85363     AZ        Youngtown                        PUD                                7.72       0.5       0    0.0055          0          7.2145        20360401             360           359
    65793     MO        Willow Springs                   Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360401             360           359
    20011     DC        Washington                       Condominium                        9.09       0.5       0    0.0055          0          8.5845        20360401             360           359
    18466     PA        Tobyhanna                        PUD                                 7.4       0.5       0    0.0055          0          6.8945        20351101             360           354
     8053     NJ        Marlton                          Single Family                      10.3       0.5       0    0.0055          0          9.7945        20360301             360           358
    55025     MN        FOREST LAKE                      Single Family                      8.22       0.5       0    0.0055          0          7.7145        20360301             360           358
    18466     PA        Tobyhanna                        PUD                               11.75       0.5       0    0.0055          0         11.2445        20201101             180           174
    65608     MO        Ava                              Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360401             360           359
    30504     GA        Gainesville                      Townhouse                          8.41       0.5       0    0.0055          0          7.9045        20360301             360           358
    32771     FL        SANFORD                          Single Family                        12       0.5       0    0.0055          0         11.4945        20360301             360           358
    76210     TX        DENTON                           PUD                                7.98       0.5       0    0.0055          0          7.4745        20360301             360           358
    60048     IL        Libertyville                     Single Family                     10.89       0.5       0    0.0055          0         10.3845        20360301             360           358
    33936     FL        Leigh Acres                      Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360301             360           358
    70827     LA        Baton Rouge                      Townhouse                          8.75       0.5       0    0.0055          0          8.2445        20351101             360           354
    97121     OR        FORT STEVENS                     Single Family                    10.225       0.5       0    0.0055          0          9.7195        20360301             360           358
    33496     FL        Boca Raton                       PUD                               13.28       0.5       0    0.0055          0         12.7745        20260201             240           237
    77586     TX        Seabrook                         2-4 Family                          7.5       0.5       0    0.0055          0          6.9945        20351101             360           354
    77034     TX        Houston                          PUD                                9.75       0.5       0    0.0055          0          9.2445        20201101             180           174
    70778     LA        Sorrento                         Single Family                     11.75       0.5       0    0.0055          0         11.2445        20201001             180           173
    70778     LA        Sorrento                         Single Family                      8.99       0.5       0    0.0055          0          8.4845        20351005             360           353
    77034     TX        Houston                          PUD                                 7.4       0.5       0    0.0055          0          6.8945        20351101             360           354
    70764     LA        Plaquemine                       Single Family                      9.99       0.5       0    0.0055          0          9.4845        20351101             360           354
    17113     PA        Steelton                         Single Family                      7.35       0.5       0    0.0055          0          6.8445        20351101             360           354
    19425     PA        Chester Springs                  Single Family                      9.89       0.5       0    0.0055          0          9.3845        20360401             360           359
    20852     MD        ROCKVILLE                        Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360301             360           358
    90650     CA        Norwalk                          Single Family                      11.3       0.5       0    0.0055          0         10.7945        20210301             180           178
    90650     CA        Norwalk                          Single Family                       7.1       0.5       0    0.0055          0          6.5945        20360301             360           358
    77515     TX        Angleton                         Single Family                       8.7       0.5       0    0.0055          0          8.1945        20350801             360           351
    77489     TX        Missouri City                    PUD                                8.65       0.5       0    0.0055          0          8.1445        20350701             360           350
    92376     CA        Rialto                           Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360301             360           358
    89120     NV        Las Vegas                        Townhouse                          9.75       0.5       0    0.0055          0          9.2445        20360301             360           358
    30117     GA        Carrollton                       PUD                               10.43       0.5       0    0.0055          0          9.9245        20360201             360           357
    33618     FL        Tampa                            PUD                                7.13       0.5       0    0.0055          0          6.6245        20360201             360           357
    78245     TX        San Antonio                      PUD                                9.95       0.5       0    0.0055          0          9.4445        20210401             180           179
    78245     TX        San Antonio                      PUD                               8.445       0.5       0    0.0055          0          7.9395        20360401             360           359
    92082     CA        Valley Center                    Single Family                     11.25       0.5       0    0.0055          0         10.7445        20210301             180           178
    92082     CA        Valley Center                    Single Family                     8.375       0.5       0    0.0055          0          7.8695        20360301             360           358
    43205     OH        Columbus                         Single Family                       8.4       0.5       0    0.0055          0          7.8945        20360301             360           358
    77067     TX        HOUSTON                          PUD                                8.71       0.5       0    0.0055          0          8.2045        20360401             360           359
    33880     FL        Winter Haven                     Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360301             360           358
    33755     FL        Clearwater                       Single Family                      9.04       0.5       0    0.0055          0          8.5345        20360301             360           358
    85250     AZ        Scottsdale                       Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360301             360           358
    33441     FL        Deerfield Beach                  Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360401             360           359
    33705     FL        Saint Petersburg                 Single Family                      6.73       0.5       0    0.0055          0          6.2245        20360401             360           359
    85035     AZ        PHOENIX                          Single Family                    10.875       0.5       0    0.0055          0         10.3695        20210201             180           177
    85224     AZ        CHANDLER                         PUD                                8.55       0.5       0    0.0055          0          8.0445        20360201             360           357
    85242     AZ        QUEEN CREEK                      PUD                               12.04       0.5       0    0.0055          0         11.5345        20210201             180           177
    85035     AZ        PHOENIX                          Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    85242     AZ        QUEEN CREEK                      PUD                                 9.1       0.5       0    0.0055          0          8.5945        20360201             360           357
    77028     TX        HOUSTON                          Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    85706     AZ        TUCSON                           Single Family                     11.75       0.5       0    0.0055          0         11.2445        20360201             360           357
    85706     AZ        TUCSON                           Single Family                      7.35       0.5       0    0.0055          0          6.8445        20360201             360           357
    79109     TX        AMARILLO                         Single Family                      9.75       0.5       0    0.0055          0          9.2445        20360201             360           357
    85204     AZ        MESA                             Single Family                    10.875       0.5       0    0.0055          0         10.3695        20210201             180           177
    85204     AZ        MESA                             Single Family                       7.3       0.5       0    0.0055          0          6.7945        20360201             360           357
    85051     AZ        PHOENIX                          Single Family                     11.75       0.5       0    0.0055          0         11.2445        20210201             180           177
    85051     AZ        PHOENIX                          Single Family                       8.4       0.5       0    0.0055          0          7.8945        20360201             360           357
    87121     NM        ALBUQUERQUE                      PUD                                8.99       0.5       0    0.0055          0          8.4845        20360201             360           357
    85364     AZ        YUMA                             Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    85041     AZ        PHOENIX                          Single Family                     11.49       0.5       0    0.0055          0         10.9845        20360201             360           357
    48656     MI        SAINT HELEN                      Single Family                      12.2       0.5       0    0.0055          0         11.6945        20360201             360           357
    85353     AZ        TOLLESON                         Single Family                      8.65       0.5       0    0.0055          0          8.1445        20360201             360           357
    85017     AZ        PHOENIX                          Single Family                       7.9       0.5       0    0.0055          0          7.3945        20360201             360           357
    85041     AZ        PHOENIX                          Single Family                      7.99       0.5       0    0.0055          0          7.4845        20360201             360           357
    66002     KS        ATCHISON                         Single Family                       7.7       0.5       0    0.0055          0          7.1945        20360201             360           357
    77031     TX        HOUSTON                          PUD                                8.64       0.5       0    0.0055          0          8.1345        20351201             360           355
    75104     TX        CEDAR HILL                       Single Family                     7.875       0.5       0    0.0055          0          7.3695        20351201             360           355
    85239     AZ        MARICOPA                         PUD                               7.375       0.5       0    0.0055          0          6.8695        20351201             360           355
    64133     MO        RAYTOWN                          PUD                                12.4       0.5       0    0.0055          0         11.8945        20201201             180           175
    64133     MO        RAYTOWN                          PUD                                8.35       0.5       0    0.0055          0          7.8445        20351201             360           355
    85219     AZ        APACHE JUNCTION                  Single Family                      7.35       0.5       0    0.0055          0          6.8445        20351201             360           355
    75248     TX        DALLAS                           Single Family                      7.24       0.5       0    0.0055          0          6.7345        20351201             360           355
    79936     TX        EL PASO                          Single Family                     7.975       0.5       0    0.0055          0          7.4695        20351101             360           354
    36804     AL        OPELIKA                          Single Family                      9.55       0.5       0    0.0055          0          9.0445        20360201             360           357
    85035     AZ        PHOENIX                          Single Family                      7.24       0.5       0    0.0055          0          6.7345        20351101             360           354
    52405     IA        CEDAR RAPIDS                     Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360201             360           357
    85232     AZ        FLORENCE                         PUD                                  11       0.5       0    0.0055          0         10.4945        20201201             180           175
    85232     AZ        FLORENCE                         PUD                                 7.6       0.5       0    0.0055          0          7.0945        20351201             360           355
    64063     MO        LEES SUMMIT                      Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360101             360           356
    64138     MO        KANSAS CITY                      Single Family                      7.55       0.5       0    0.0055          0          7.0445        20360201             360           357
    64119     MO        KANSAS CITY                      Single Family                     8.725       0.5       0    0.0055          0          8.2195        20351201             360           355
    62269     IL        O FALLON                         Single Family                     10.99       0.5       0    0.0055          0         10.4845        20210201             180           177
    62269     IL        O FALLON                         Single Family                     7.875       0.5       0    0.0055          0          7.3695        20360201             360           357
    85035     AZ        PHOENIX                          Single Family                       9.6       0.5       0    0.0055          0          9.0945        20360201             360           357
    62014     IL        BUNKER HILL                      Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360201             360           357
    23834     VA        Colonial Heights                 Single Family                     10.99       0.5       0    0.0055          0         10.4845        20360401             360           359
    85017     AZ        PHOENIX                          Single Family                      7.44       0.5       0    0.0055          0          6.9345        20360401             360           359
    28031     NC        CORNELIUS                        PUD                                  10       0.5       0    0.0055          0          9.4945        20360101             360           356
    30127     GA        POWDER SPRINGS                   PUD                                 9.5       0.5       0    0.0055          0          8.9945        20360101             360           356
    30126     GA        MABLETON                         Condominium                      10.375       0.5       0    0.0055          0          9.8695        20360101             360           356
    76901     TX        San Angelo                       Single Family                     10.35       0.5       0    0.0055          0          9.8445        20360101             360           356
    76020     TX        Azle                             Single Family                    10.415       0.5       0    0.0055          0          9.9095        20360401             360           359
     8879     NJ        OLD BRIDGE                       Single Family                      8.48       0.5       0    0.0055          0          7.9745        20360101             360           356
     7307     NJ        JERSEY CITY                      Single Family                     10.75       0.5       0    0.0055          0         10.2445        20360101             360           356
    60637     IL        CHICAGO                          Single Family                     8.825       0.5       0    0.0055          0          8.3195        20360101             360           356
    20613     MD        BRANDYWINE                       Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    86442     AZ        BULLHEAD CITY                    Single Family                     8.975       0.5       0    0.0055          0          8.4695        20360201             360           357
    21216     MD        BALTIMORE                        Single Family                       9.1       0.5       0    0.0055          0          8.5945        20360201             360           357
    59718     MT        BOZEMAN                          Single Family                       7.4       0.5       0    0.0055          0          6.8945        20360201             360           357
    96766     HI        LIHUE                            Condominium                       12.25       0.5       0    0.0055          0         11.7445        20210101             180           176
    29732     SC        ROCK HILL SC                     Single Family                     11.25       0.5       0    0.0055          0         10.7445        20360101             360           356
    39818     GA        BAINBRIDGE                       Single Family                    12.475       0.5       0    0.0055          0         11.9695        20360201             360           357
    60108     IL        BLOOMINGDALE                     Single Family                     6.875       0.5       0    0.0055          0          6.3695        20360101             360           356
    40391     KY        WINCHESTER                       Single Family                     8.825       0.5       0    0.0055          0          8.3195        20360101             360           356
    45419     OH        DAYOTN                           Single Family                       8.3       0.5       0    0.0055          0          7.7945        20360201             360           357
    29325     SC        CLINTON                          Single Family                      9.05       0.5       0    0.0055          0          8.5445        20360201             360           357
    49423     MI        HOLLAND                          Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360201             360           357
    45212     OH        CINCINNATI                       Single Family                     6.925       0.5       0    0.0055          0          6.4195        20360101             360           356
    28227     NC        CHARLOTTE                        Single Family                      8.45       0.5       0    0.0055          0          7.9445        20360101             360           356
    32503     FL        PENSACOLA                        Single Family                       9.4       0.5       0    0.0055          0          8.8945        20360101             360           356
    60505     IL        AURORA                           Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360101             360           356
     3106     NH        HOOKSETT                         Condominium                        6.85       0.5       0    0.0055          0          6.3445        20360201             360           357
    78130     TX        NEW BRAUNFELS                    Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360101             360           356
    30294     GA        ELLENWOOD                        Single Family                     9.975       0.5       0    0.0055          0          9.4695        20351201             360           355
    49646     MI        KALKASKA                         Single Family                     10.55       0.5       0    0.0055          0         10.0445        20360101             360           356
    96766     HI        LIHUE                            Condominium                       7.575       0.5       0    0.0055          0          7.0695        20360101             360           356
    78210     TX        SAN ANTONIO                      2-4 Family                         7.73       0.5       0    0.0055          0          7.2245        20350901             360           352
    77388     TX        SPRING                           Single Family                      9.75       0.5       0    0.0055          0          9.2445        20350901             360           352
    30311     GA        ATLANTA                          Single Family                    12.475       0.5       0    0.0055          0         11.9695        20201201             180           175
    77373     TX        SPRING                           Single Family                       6.6       0.5       0    0.0055          0          6.0945        20350901             360           352
    63136     MO        SAINT LOUIS                      Single Family                      7.75       0.5       0    0.0055          0          7.2445        20350901             360           352
    12809     NY        ARGYLE                           Single Family                      7.65       0.5       0    0.0055          0          7.1445        20360101             360           356
    33647     FL        TAMPA                            Single Family                     7.875       0.5       0    0.0055          0          7.3695        20351201             360           355
    49646     MI        KALKASKA                         Single Family                    11.925       0.5       0    0.0055          0         11.4195        20201101             180           174
    84403     UT        OGDEN                            2-4 Family                          7.1       0.5       0    0.0055          0          6.5945        20351101             360           354
     6320     CT        NEW LONDON                       2-4 Family                         7.75       0.5       0    0.0055          0          7.2445        20360101             360           356
    77590     TX        TEXAS CITY                       2-4 Family                         9.05       0.5       0    0.0055          0          8.5445        20350901             360           352
    77590     TX        TEXAS CITY                       Single Family                      9.05       0.5       0    0.0055          0          8.5445        20350901             360           352
    36830     AL        AUBURN                           Condominium                        7.75       0.5       0    0.0055          0          7.2445        20350801             360           351
    21225     MD        BALTIMORE                        Single Family                       8.5       0.5       0    0.0055          0          7.9945        20360101             360           356
    77061     TX        HOUSTON                          Single Family                     10.74       0.5       0    0.0055          0         10.2345        20350801             360           351
    78727     TX        AUSTIN                           Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360101             360           356
    70814     LA        BATON ROUGE                      Single Family                     6.725       0.5       0    0.0055          0          6.2195        20351201             360           355
    45403     OH        DAYTON                           Single Family                      8.98       0.5       0    0.0055          0          8.4745        20351101             360           354
    77064     TX        HOUSTON                          Single Family                     10.25       0.5       0    0.0055          0          9.7445        20350801             360           351
    77085     TX        HOUSTON                          PUD                               7.275       0.5       0    0.0055          0          6.7695        20350801             360           351
    12487     NY        ULSTER CITY                      Single Family                      8.85       0.5       0    0.0055          0          8.3445        20351201             360           355
    28213     NC        CHARLOTTE                        Single Family                       9.8       0.5       0    0.0055          0          9.2945        20360101             360           356
    14216     NY        BUFFALO                          2-4 Family                        9.125       0.5       0    0.0055          0          8.6195        20360101             360           356
    21220     MD        MIDDLE RIVER                     Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360101             360           356
    33478     FL        JUPITER                          Single Family                     7.125       0.5       0    0.0055          0          6.6195        20360101             360           356
    61111     IL        LOVES PARK                       Single Family                      6.05       0.5       0    0.0055          0          5.5445        20351101             360           354
    45322     OH        ENGLEWOOD                        Single Family                     7.825       0.5       0    0.0055          0          7.3195        20351201             360           355
    19601     PA        READING                          Single Family                      7.95       0.5       0    0.0055          0          7.4445        20350801             360           351
    14218     NY        LACKAWANNA                       Single Family                     9.175       0.5       0    0.0055          0          8.6695        20360101             360           356
    77041     TX        HOUSTON                          PUD                                 8.1       0.5       0    0.0055          0          7.5945        20350801             360           351
    19355     PA        Malvern                          Single Family                     7.565       0.5       0    0.0055          0          7.0595        20360301             360           358
    30188     GA        Woodstock                        PUD                                7.74       0.5       0    0.0055          0          7.2345        20360201             360           357
    22192     VA        WOODBRIDGE                       Single Family                       7.8       0.5       0    0.0055          0          7.2945        20360301             360           358
    84042     UT        Lindon                           PUD                                 9.2       0.5       0    0.0055          0          8.6945        20360201             360           357
    75068     TX        Little Elm                       PUD                                9.76       0.5       0    0.0055          0          9.2545        20360301             360           358
    34420     FL        Belleview                        Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360401             360           359
    44264     OH        Peninsula                        Single Family                       9.9       0.5       0    0.0055          0          9.3945        20360301             360           358
    22707     VA        CULPEPPER                        PUD                               9.375       0.5       0    0.0055          0          8.8695        20360201             360           357
    41071     KY        NEWPORT                          Single Family                      6.99       0.5       0    0.0055          0          6.4845        20351201             360           355
    47167     IN        SALEM                            Single Family                      7.49       0.5       0    0.0055          0          6.9845        20360101             360           356
    49265     MI        ONSTED                           Single Family                       6.9       0.5       0    0.0055          0          6.3945        20351201             360           355
    63123     MO        SAINT LOUIS                      Single Family                       6.1       0.5       0    0.0055          0          5.5945        20201201             180           175
    80014     CO        AURORA                           Single Family                      8.19       0.5       0    0.0055          0          7.6845        20351128             360           354
    65605     MO        AURORA                           Single Family                      7.75       0.5       0    0.0055          0          7.2445        20351101             360           354
    53215     WI        MILWAUKEE                        Single Family                      7.15       0.5       0    0.0055          0          6.6445        20351101             360           354
    45238     OH        CINCINNATI                       Single Family                       7.2       0.5       0    0.0055          0          6.6945        20251101             240           234
    21157     MD        WESTMINSTER                      Single Family                     11.85       0.5       0    0.0055          0         11.3445        20210101             180           176
    63114     MO        SAINT LOUIS                      Single Family                      8.65       0.5       0    0.0055          0          8.1445        20201109             180           174
    30622     GA        BOGART                           Single Family                      10.5       0.5       0    0.0055          0          9.9945        20360101             360           356
    19149     PA        CITY OF PHILADELPHIA             Townhouse                          7.95       0.5       0    0.0055          0          7.4445        20351201             360           355
    44883     OH        TIFFIN                           Single Family                      6.99       0.5       0    0.0055          0          6.4845        20351101             360           354
    63110     MO        SAINT LOUIS                      Single Family                      7.45       0.5       0    0.0055          0          6.9445        20351001             360           353
    53206     WI        MILWAUKEE                        Single Family                      8.25       0.5       0    0.0055          0          7.7445        20200907             180           172
    96021     CA        CORNING                          Single Family                      9.35       0.5       0    0.0055          0          8.8445        20251101             240           234
    85345     AZ        PEORIA                           PUD                                9.75       0.5       0    0.0055          0          9.2445        20201004             180           173
    98027     WA        COAL CREEK                       Single Family                       8.1       0.5       0    0.0055          0          7.5945        20201003             180           173
    98512     WA        OLYMPIA                          PUD                                9.35       0.5       0    0.0055          0          8.8445        20200902             180           172
    44121     OH        CLEVELAND                        Single Family                      8.85       0.5       0    0.0055          0          8.3445        20200901             180           172
    85048     AZ        PHOENIX                          PUD                                7.25       0.5       0    0.0055          0          6.7445        20351101             360           354
    48382     MI        COMMERCE TWP                     Single Family                      9.25       0.5       0    0.0055          0          8.7445        20200902             180           172
    63461     MO        PALMYRA                          Single Family                       9.8       0.5       0    0.0055          0          9.2945        20201011             180           173
    53210     WI        MILWAUKEE                        Single Family                       6.2       0.5       0    0.0055          0          5.6945        20201018             180           173
    60185     IL        WEST CHICAGO                     Single Family                        11       0.5       0    0.0055          0         10.4945        20200921             180           172
    43620     OH        TOLEDO                           Single Family                      7.25       0.5       0    0.0055          0          6.7445        20201105             180           174
    49445     MI        MUSKEGON                         Single Family                      7.65       0.5       0    0.0055          0          7.1445        20351201             360           355
    33625     FL        TAMPA                            Single Family                      9.25       0.5       0    0.0055          0          8.7445        20200901             180           172
    85302     AZ        GLENDALE                         Single Family                      9.15       0.5       0    0.0055          0          8.6445        20251001             240           233
    43207     OH        COLUMBUS                         Single Family                      6.45       0.5       0    0.0055          0          5.9445        20351019             360           353
     7666     NJ        TEANECK                          Single Family                       8.4       0.5       0    0.0055          0          7.8945        20351101             360           354
    93230     CA        HANFORD                          Single Family                      9.35       0.5       0    0.0055          0          8.8445        20200901             180           172
    97227     OR        PORTLAND                         Townhouse                          6.35       0.5       0    0.0055          0          5.8445        20350901             360           352
    93306     CA        BAKERSFIELD                      Single Family                       8.2       0.5       0    0.0055          0          7.6945        20200926             180           172
    56511     MN        AUDUBON                          Single Family                      7.85       0.5       0    0.0055          0          7.3445        20350801             360           351
    62040     IL        GRANITE CITY                     Single Family                      7.55       0.5       0    0.0055          0          7.0445        20350801             360           351
    54956     WI        NEENAH                           Single Family                      8.25       0.5       0    0.0055          0          7.7445        20351001             360           353
    53216     WI        MILWAUKEE                        Single Family                      7.95       0.5       0    0.0055          0          7.4445        20351001             360           353
    76542     TX        KILLEEN                          Single Family                      7.65       0.5       0    0.0055          0          7.1445        20350801             360           351
    98902     WA        YAKIMA                           Single Family                       7.6       0.5       0    0.0055          0          7.0945        20350915             360           352
    32459     FL        SANTA ROSA BEACH                 PUD                                 8.4       0.5       0    0.0055          0          7.8945        20200914             180           172
    24416     VA        BEUNA VISTA                      Single Family                       6.3       0.5       0    0.0055          0          5.7945        20350201             360           345
     6112     CT        Hartford                         Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360201             360           357
    85603     AZ        Bisbee                           Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360201             360           357
    32606     FL        Gainesville                      PUD                                6.94       0.5       0    0.0055          0          6.4345        20360301             360           358
    97114     OR        Dayton                           Single Family                     7.075       0.5       0    0.0055          0          6.5695        20351101             360           354
    85213     AZ        MESA                             Single Family                      9.02       0.5       0    0.0055          0          8.5145        20360201             360           357
    44827     OH        Crestline                        Single Family                     12.08       0.5       0    0.0055          0         11.5745        20260201             240           237
    49017     MI        Battle Creek                     Single Family                     9.825       0.5       0    0.0055          0          9.3195        20360201             360           357
    30094     GA        Conyers                          Single Family                     13.28       0.5       0    0.0055          0         12.7745        20260101             240           236
    95207     CA        Stockton                         Single Family                      9.15       0.5       0    0.0055          0          8.6445        20360301             360           358
    23223     VA        Richmond                         PUD                               10.63       0.5       0    0.0055          0         10.1245        20360201             360           357
    34715     FL        CLERMONT                         Single Family                      8.73       0.5       0    0.0055          0          8.2245        20360201             360           357
     2155     MA        MEDFORD                          2-4 Family                        10.13       0.5       0    0.0055          0          9.6245        20260201             240           237
     2155     MA        MEDFORD                          2-4 Family                         7.88       0.5       0    0.0055          0          7.3745        20360201             360           357
     7055     NJ        PASSAIC                          2-4 Family                        10.73       0.5       0    0.0055          0         10.2245        20260201             240           237
     7055     NJ        PASSAIC                          2-4 Family                         7.98       0.5       0    0.0055          0          7.4745        20360201             360           357
    12601     NY        POUGHKEEPSIE                     2-4 Family                         9.25       0.5       0    0.0055          0          8.7445        20360201             360           357
    33838     FL        DUNDEE                           Single Family                      9.43       0.5       0    0.0055          0          8.9245        20360201             360           357
    33065     FL        CORAL SPRINGS                    Single Family                      5.73       0.5       0    0.0055          0          5.2245        20351201             360           355
     8080     NJ        WASHINGTON TOWN                  Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360101             360           356
    12590     NY        WAPPINGER FALLS                  Single Family                      6.99       0.5       0    0.0055          0          6.4845        20360101             360           356
    33415     FL        WEST PALM BEACH                  PUD                                8.18       0.5       0    0.0055          0          7.6745        20351101             360           354
     6513     CT        NEW HAVEN                        2-4 Family                         5.58       0.5       0    0.0055          0          5.0745        20351001             360           353
    22405     VA        FREDERICKSBURG                   Single Family                       8.6       0.5       0    0.0055          0          8.0945        20360201             360           357
    10952     NY        Monsey                           Single Family                       9.5       0.5       0    0.0055          0          8.9945        20360201             360           357
    19142     PA        Philadelphia                     Townhouse                          8.85       0.5       0    0.0055          0          8.3445        20360301             360           358
    19968     DE        MILTON                           PUD                                9.25       0.5       0    0.0055          0          8.7445        20360201             360           357
    49093     MI        Three Rivers                     Single Family                      7.38       0.5       0    0.0055          0          6.8745        20360201             360           357
    85242     AZ        QUEEN CREEK                      PUD                                7.25       0.5       0    0.0055          0          6.7445        20360201             360           357
    85242     AZ        QUEEN CREEK                      Single Family                      10.5       0.5       0    0.0055          0          9.9945        20360201             360           357
    96007     CA        Anderson                         Single Family                       7.2       0.5       0    0.0055          0          6.6945        20360401             360           359
    49022     MI        Benton Harbor                    Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360101             360           356
    29527     SC        Conway                           Single Family                      9.99       0.5       0    0.0055          0          9.4845        20360201             360           357
     6615     CT        STRATFORD                        Single Family                      8.99       0.5       0    0.0055          0          8.4845        20360101             360           356
    29483     SC        SUMMERVILLE                      Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360101             360           356
    19120     PA        PHILADELPHIA                     Single Family                     10.85       0.5       0    0.0055          0         10.3445        20360101             360           356
    11778     NY        ROCKY POINT                      Single Family                        10       0.5       0    0.0055          0          9.4945        20360101             360           356
    34478     FL        OCALA                            Single Family                      9.45       0.5       0    0.0055          0          8.9445        20360101             360           356
    11772     NY        EAST PATCHOGUE                   Single Family                      12.5       0.5       0    0.0055          0         11.9945        20210101             180           176
    11772     NY        EAST PATCHOGUE                   Single Family                       8.2       0.5       0    0.0055          0          7.6945        20360101             360           356
    19126     PA        PHILADELPHIA                     Single Family                      10.4       0.5       0    0.0055          0          9.8945        20360101             360           356
    19154     PA        PHILADELPHIA                     Single Family                      11.1       0.5       0    0.0055          0         10.5945        20360101             360           356
    48146     MI        LINCOLN PARK                     Single Family                       9.7       0.5       0    0.0055          0          9.1945        20360101             360           356
    22554     VA        STAFFORD                         PUD                               10.75       0.5       0    0.0055          0         10.2445        20210101             180           176
    19425     PA        CHESTER SPRINGS                  PUD                                 8.8       0.5       0    0.0055          0          8.2945        20360101             360           356
    19144     PA        PHILADELPHIA                     2-4 Family                         9.85       0.5       0    0.0055          0          9.3445        20360101             360           356
    11701     NY        AMITYVILLE                       Single Family                        11       0.5       0    0.0055          0         10.4945        20210101             180           176
    11701     NY        AMITYVILLE                       Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360101             360           356
    37604     TN        JOHNSON CITY                     Single Family                      9.85       0.5       0    0.0055          0          9.3445        20360101             360           356
     6611     CT        TRUMBULL                         Single Family                        11       0.5       0    0.0055          0         10.4945        20210101             180           176
    12972     NY        PERU                             Single Family                      10.1       0.5       0    0.0055          0          9.5945        20360101             360           356
    19030     PA        FAIRLESS HILLS                   Single Family                       8.7       0.5       0    0.0055          0          8.1945        20360101             360           356
    48219     MI        DETROIT                          Single Family                        11       0.5       0    0.0055          0         10.4945        20360101             360           356
    71203     LA        MONROE                           Single Family                      10.6       0.5       0    0.0055          0         10.0945        20360101             360           356
    21046     MD        COLUMBIA                         PUD                                8.65       0.5       0    0.0055          0          8.1445        20360101             360           356
    65301     MO        SEDALIA                          Single Family                       9.8       0.5       0    0.0055          0          9.2945        20351201             360           355
    11706     NY        BAYSHORE                         Single Family                        11       0.5       0    0.0055          0         10.4945        20210101             180           176
    11706     NY        BAYSHORE                         Single Family                      8.15       0.5       0    0.0055          0          7.6445        20360101             360           356
    11717     NY        BRENTWOOD                        Single Family                        11       0.5       0    0.0055          0         10.4945        20201201             180           175
    11717     NY        BRENTWOOD                        Single Family                      8.15       0.5       0    0.0055          0          7.6445        20351201             360           355
    21222     MD        DUNDALK                          Single Family                     10.45       0.5       0    0.0055          0          9.9445        20360101             360           356
    23188     VA        WILLIAMSBURG                     PUD                                 9.1       0.5       0    0.0055          0          8.5945        20360102             360           356
    29468     SC        PINEVILLE                        Single Family                         8       0.5       0    0.0055          0          7.4945        20360101             360           356
    23805     VA        PETERSBURG                       Single Family                       6.7       0.5       0    0.0055          0          6.1945        20351201             360           355
    11434     NY        JAMAICA                          2-4 Family                           11       0.5       0    0.0055          0         10.4945        20201201             180           175
    11434     NY        JAMAICA                          2-4 Family                         6.95       0.5       0    0.0055          0          6.4445        20351201             360           355
    17314     PA        DELTA                            Single Family                        11       0.5       0    0.0055          0         10.4945        20201201             180           175
    17314     PA        DELTA                            Single Family                       7.9       0.5       0    0.0055          0          7.3945        20351201             360           355
    29456     SC        LADSON                           PUD                                  11       0.5       0    0.0055          0         10.4945        20251201             240           235
    29456     SC        LADSON                           PUD                                 8.1       0.5       0    0.0055          0          7.5945        20351201             360           355
    19150     PA        PHILADELPHIA                     Single Family                     10.35       0.5       0    0.0055          0          9.8445        20351101             360           354
     7112     NJ        NEWARK                           2-4 Family                        11.55       0.5       0    0.0055          0         11.0445        20360101             360           356
    12303     NY        ROTTERDAM                        Single Family                     7.875       0.5       0    0.0055          0          7.3695        20351201             360           355
    17701     PA        WILLIAMSPORT                     Single Family                        11       0.5       0    0.0055          0         10.4945        20351201             360           355
    17701     PA        WILLIAMSPORT                     Single Family                      7.75       0.5       0    0.0055          0          7.2445        20351201             360           355
    17754     PA        MOTOURSVILLE                     Townhouse                           9.2       0.5       0    0.0055          0          8.6945        20351201             360           355
     3076     NH        PELHAM                           Single Family                       6.5       0.5       0    0.0055          0          5.9945        20351101             360           354
     8059     NJ        MOUNT EPHRAIM                    Single Family                      8.15       0.5       0    0.0055          0          7.6445        20351101             360           354
    28262     NC        CHARLOTTE                        PUD                                 7.5       0.5       0    0.0055          0          6.9945        20351101             360           354
    95815     CA        SACRAMENTO                       Single Family                       9.9       0.5       0    0.0055          0          9.3945        20351201             360           355
     2891     RI        WESTERLY                         Single Family                       6.3       0.5       0    0.0055          0          5.7945        20351101             360           354
    19148     PA        PHILADELPHIA                     2-4 Family                        7.425       0.5       0    0.0055          0          6.9195        20351101             360           354
    19702     DE        NEWARK                           PUD                                7.15       0.5       0    0.0055          0          6.6445        20351201             360           355
    29928     SC        HILTON HEAD ISLAND               Condominium                        8.85       0.5       0    0.0055          0          8.3445        20351101             360           354
    33322     FL        FORT LAUDERDALE                  PUD                               7.925       0.5       0    0.0055          0          7.4195        20351101             360           354
    14094     NY        LOCKPORT                         Single Family                     10.15       0.5       0    0.0055          0          9.6445        20360101             360           356
     8609     NJ        TRENTON                          2-4 Family                        11.85       0.5       0    0.0055          0         11.3445        20360101             360           356
    93312     CA        BAKERSFIELD                      Single Family                     7.875       0.5       0    0.0055          0          7.3695        20351201             360           355
    89502     NV        RENO                             Single Family                         8       0.5       0    0.0055          0          7.4945        20351201             360           355
    93312     CA        BAKERSFIELD                      Single Family                         8       0.5       0    0.0055          0          7.4945        20360101             360           356
    93306     CA        BAKERSFIELD                      Condominium                       8.625       0.5       0    0.0055          0          8.1195        20351201             360           355
    93307     CA        BAKERSFIELD                      Single Family                     6.625       0.5       0    0.0055          0          6.1195        20351201             360           355
    80022     CO        COMMERCE CITY                    PUD                                  13       0.5       0    0.0055          0         12.4945        20210101             180           176
    80022     CO        COMMERCE CITY                    PUD                               8.375       0.5       0    0.0055          0          7.8695        20360101             360           356
    80018     CO        AURORA                           PUD                               9.125       0.5       0    0.0055          0          8.6195        20351201             360           355
    89408     NV        FERNLEY                          Single Family                    11.875       0.5       0    0.0055          0         11.3695        20201201             180           175
    89408     NV        FERNLEY                          Single Family                     7.375       0.5       0    0.0055          0          6.8695        20351201             360           355
    92345     CA        HESPERIA                         Single Family                         9       0.5       0    0.0055          0          8.4945        20360101             360           356
    71201     LA        MONROE                           Single Family                    10.875       0.5       0    0.0055          0         10.3695        20210101             180           176
    71201     LA        MONROE                           Single Family                      7.25       0.5       0    0.0055          0          6.7445        20360101             360           356
    90745     CA        CARSON                           Single Family                         7       0.5       0    0.0055          0          6.4945        20351201             360           355
    90260     CA        LAWNDALE                         2-4 Family                        10.75       0.5       0    0.0055          0         10.2445        20201101             180           174
    90260     CA        LAWNDALE                         2-4 Family                        7.375       0.5       0    0.0055          0          6.8695        20351101             360           354
    70363     LA        HOUMA                            Single Family                     10.25       0.5       0    0.0055          0          9.7445        20360101             360           356
    91304     CA        CANOGA PARK                      Single Family                     8.125       0.5       0    0.0055          0          7.6195        20351201             360           355
    90047     CA        LOS ANGELES                      Single Family                    11.875       0.5       0    0.0055          0         11.3695        20201201             180           175
    90047     CA        LOS ANGELES                      Single Family                         8       0.5       0    0.0055          0          7.4945        20351201             360           355
    90059     CA        LOS ANGELES                      Single Family                     7.625       0.5       0    0.0055          0          7.1195        20351201             360           355
    91344     CA        GRANADA HILLS                    Single Family                     6.875       0.5       0    0.0055          0          6.3695        20351201             360           355
    90744     CA        WILMINGTON                       2-4 Family                        10.75       0.5       0    0.0055          0         10.2445        20201201             180           175
    90744     CA        WILMINGTON                       2-4 Family                        7.625       0.5       0    0.0055          0          7.1195        20351201             360           355
    90059     CA        LOS ANGELES                      Single Family                      7.25       0.5       0    0.0055          0          6.7445        20350601             360           349
    20781     MD        HYATTSVILLE                      Single Family                      6.25       0.5       0    0.0055          0          5.7445        20351201             360           355
    20707     MD        LAUREL                           Condominium                        7.25       0.5       0    0.0055          0          6.7445        20360101             360           356
    20851     MD        ROCKVILLE                        Single Family                       7.5       0.5       0    0.0055          0          6.9945        20360101             360           356
    20857     MD        ROCKVILLE                        Single Family                    12.375       0.5       0    0.0055          0         11.8695        20210101             180           176
    20782     MD        HYATTSVILLE                      Single Family                    11.875       0.5       0    0.0055          0         11.3695        20201201             180           175
    20782     MD        HYATTSVILLE                      Single Family                      7.25       0.5       0    0.0055          0          6.7445        20351201             360           355
    20735     MD        CLINTON                          PUD                               6.875       0.5       0    0.0055          0          6.3695        20351201             360           355
    20602     MD        WALDORF                          PUD                               7.625       0.5       0    0.0055          0          7.1195        20351201             360           355
    70737     LA        GONZALES                         Single Family                      8.75       0.5       0    0.0055          0          8.2445        20351101             360           354
    22728     VA        MIDLAND                          Single Family                      9.25       0.5       0    0.0055          0          8.7445        20360101             360           356
    36507     AL        BAY MINETTE                      Single Family                    11.125       0.5       0    0.0055          0         10.6195        20200601             180           169
    36507     AL        BAY MINETTE                      Single Family                         7       0.5       0    0.0055          0          6.4945        20350601             360           349
    22312     VA        ALEXANDRIA                       Condominium                       8.375       0.5       0    0.0055          0          7.8695        20360101             360           356
    20748     MD        TEMPLE HILLS                     Single Family                         7       0.5       0    0.0055          0          6.4945        20351201             360           355
    22192     VA        WOODBRIDGE                       PUD                                7.25       0.5       0    0.0055          0          6.7445        20351201             360           355
    22192     VA        WOODBRIDGE                       PUD                                11.5       0.5       0    0.0055          0         10.9945        20201201             180           175
    22193     VA        WOODBRIDGE                       PUD                               6.125       0.5       0    0.0055          0          5.6195        20351201             360           355
    19901     DE        DOVER                            PUD                                9.75       0.5       0    0.0055          0          9.2445        20201201             180           175
    19901     DE        DOVER                            PUD                               7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    20009     DC        WASHINGTON                       Condominium                       7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    48197     MI        YPSILANTI                        Single Family                     8.875       0.5       0    0.0055          0          8.3695        20351201             360           355
    33410     FL        PALM BEACH GARD                  PUD                               9.125       0.5       0    0.0055          0          8.6195        20351201             360           355
    32137     FL        PALM COAST                       Single Family                     7.375       0.5       0    0.0055          0          6.8695        20360101             360           356
    37035     TN        CHAPMANSBORO                     Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360101             360           356
    71913     AR        HOT SPRINGS                      Single Family                         8       0.5       0    0.0055          0          7.4945        20351201             360           355
    45036     OH        LEBANON                          Single Family                     8.125       0.5       0    0.0055          0          7.6195        20201201             180           175
    49428     MI        JENISON                          Single Family                      7.75       0.5       0    0.0055          0          7.2445        20351201             360           355
    33063     FL        MARGATE                          Single Family                     8.625       0.5       0    0.0055          0          8.1195        20351201             360           355
    37030     TN        CARTHAGE                         Single Family                      7.75       0.5       0    0.0055          0          7.2445        20350901             360           352
    77571     TX        LA PORTE                         Single Family                      7.75       0.5       0    0.0055          0          7.2445        20351201             360           355
    33470     FL        LOXAHATCHEE                      Single Family                     9.875       0.5       0    0.0055          0          9.3695        20201201             180           175
    33470     FL        LOXAHACHEE                       Single Family                       6.5       0.5       0    0.0055          0          5.9945        20351201             360           355
    29412     SC        CHARLESTON                       Condominium                      10.999       0.5       0    0.0055          0         10.4935        20201101             180           174
    29412     SC        CHARLESTON                       Condominium                        8.25       0.5       0    0.0055          0          7.7445        20351101             360           354
    56374     MN        SAINT JOSEPH                     Single Family                    10.161       0.5       0    0.0055          0          9.6555        20210101             180           176
    56374     MN        SAINT JOSEPH                     Single Family                     7.875       0.5       0    0.0055          0          7.3695        20360101             360           356
    56425     MN        BAXTER                           Single Family                    10.161       0.5       0    0.0055          0          9.6555        20210101             180           176
    56425     MN        BAXTER                           Single Family                     7.375       0.5       0    0.0055          0          6.8695        20360101             360           356
    33610     FL        TAMPA                            Single Family                      8.25       0.5       0    0.0055          0          7.7445        20360101             360           356
    33904     FL        CAPE CORAL                       Single Family                      7.75       0.5       0    0.0055          0          7.2445        20360101             360           356
    80214     CO        EDGEWATER                        Single Family                       8.5       0.5       0    0.0055          0          7.9945        20351201             360           355
    38109     TN        MEMPHIS                          Single Family                     9.625       0.5       0    0.0055          0          9.1195        20360101             360           356
    55434     MN        BLAINE                           Single Family                     7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    48504     MI        FLINT                            Single Family                    10.999       0.5       0    0.0055          0         10.4935        20360101             360           356
    55448     MN        COON RAPIDS                      Single Family                     9.891       0.5       0    0.0055          0          9.3855        20201201             180           175
    55448     MN        COON RAPIDS                      Single Family                     6.875       0.5       0    0.0055          0          6.3695        20351201             360           355
    89121     NV        LAS VEGAS                        Single Family                      6.75       0.5       0    0.0055          0          6.2445        20201201             180           175
    55419     MN        MINNEAPOLIS                      Single Family                     9.891       0.5       0    0.0055          0          9.3855        20201201             180           175
    55419     MN        MINNEAPOLIS                      Single Family                     7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    81003     CO        PUEBLO                           Single Family                     8.625       0.5       0    0.0055          0          8.1195        20351201             360           355
    55434     MN        BLAINE                           Single Family                       7.5       0.5       0    0.0055          0          6.9945        20351201             360           355
    55419     MN        MINNEAPOLIS                      Single Family                     6.875       0.5       0    0.0055          0          6.3695        20351201             360           355
    48224     MI        DETROIT                          2-4 Family                        8.875       0.5       0    0.0055          0          8.3695        20351001             360           353
    80134     CO        PARKER                           PUD                              11.999       0.5       0    0.0055          0         11.4935        20201201             180           175
    80134     CO        PARKER                           PUD                               6.999       0.5       0    0.0055          0          6.4935        20351201             360           355
    32780     FL        TITUSVILLE                       Single Family                     7.375       0.5       0    0.0055          0          6.8695        20360101             360           356
    27284     NC        KERNERSVILLE                     Single Family                     7.875       0.5       0    0.0055          0          7.3695        20351201             360           355
    33853     FL        LAKE WALES                       PUD                                9.25       0.5       0    0.0055          0          8.7445        20360101             360           356
    33070     FL        TAVERNIER                        Single Family                     7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    33584     FL        SEFFNER                          PUD                              11.875       0.5       0    0.0055          0         11.3695        20201201             180           175
    33572     FL        APOLLO BEACH                     PUD                                8.75       0.5       0    0.0055          0          8.2445        20351201             360           355
    33584     FL        SEFFNER                          PUD                               7.875       0.5       0    0.0055          0          7.3695        20351201             360           355
    33617     FL        TAMPA                            PUD                               8.125       0.5       0    0.0055          0          7.6195        20360101             360           356
    34685     FL        PALM HARBOR                      Condominium                         9.5       0.5       0    0.0055          0          8.9945        20351201             360           355
    34491     FL        SUMMERFIELD                      Single Family                     8.625       0.5       0    0.0055          0          8.1195        20351201             360           355
    34209     FL        BRADENTON                        Single Family                     8.125       0.5       0    0.0055          0          7.6195        20201201             180           175
    33584     FL        SEFFNER                          Single Family                     8.375       0.5       0    0.0055          0          7.8695        20351201             360           355
    33709     FL        KENNETH CITY                     Single Family                     8.375       0.5       0    0.0055          0          7.8695        20360101             360           356
    34667     FL        HUDSON                           PUD                               11.25       0.5       0    0.0055          0         10.7445        20210101             180           176
    34667     FL        HUDSON                           PUD                               7.125       0.5       0    0.0055          0          6.6195        20360101             360           356
    33549     FL        LUTZ                             Single Family                      7.25       0.5       0    0.0055          0          6.7445        20351201             360           355
    34736     FL        GROVELAND                        PUD                                8.25       0.5       0    0.0055          0          7.7445        20351201             360           355
    34748     FL        LEESBURG                         PUD                               9.375       0.5       0    0.0055          0          8.8695        20360101             360           356
    33991     FL        CAPE CORAL                       Single Family                     7.125       0.5       0    0.0055          0          6.6195        20351201             360           355
    32801     FL        ORLANDO                          Condominium                      10.375       0.5       0    0.0055          0          9.8695        20210101             180           176
    32801     FL        ORLANDO                          Condominium                         8.5       0.5       0    0.0055          0          7.9945        20360101             360           356
    30071     GA        Norcross                         Single Family                     10.41       0.5       0    0.0055          0          9.9045        20360101             360           356
    95820     CA        Sacramento                       Single Family                      7.66       0.5       0    0.0055          0          7.1545        20360201             360           357
    76132     TX        Fort Worth                       PUD                                6.92       0.5       0    0.0055          0          6.4145        20351201             360           355
    60655     IL        CHICAGO                          Single Family                         9       0.5       0    0.0055          0          8.4945        20351001             360           353
    76249     TX        Krum                             PUD                                 6.8       0.5       0    0.0055          0          6.2945        20351201             360           355
    45230     OH        CINCINNATI                       Single Family                     11.24       0.5       0    0.0055          0         10.7345        20250601             240           229

     ZIP_       ORIGINAL_         FIRST_        PAYMENT        CURRENT_            LOAN_    MI                  MERS_ID1                        MARGIN         NEXT_RATE_         MAX_RATE       MIN_RATE
     CODE         BALANCE       PAY_DATE                        BALANCE         TO_VALUE                                                                        ADJ_DATE1
    70601           45200       20050701         362.88        44916.53              100    No MI               100264600800329696                5.99           20070601           14.975          8.975
    70737          116755       20050601         840.48       115729.62               95    No MI               100112065696357926                 6.8           20070501             13.8            7.8
    39232           40000       20050601         311.12        39689.55      70.18000031    No MI               100077400205079757                   0                                   0              0
    32738          177600       20060501        1509.58       177514.92               74    No MI               100331700902523433                   0                                   0              0
    48134          192000       20060501           1060          192000               80    No MI               100331700902494866               5.625           20090401           12.625          6.625
    47250          166500       20060501        1369.75       166413.68               90    No MI               100331700902611014                8.25           20080401            16.25           9.25
    32720           88000       20060501         731.94        87955.56               80    No MI               100331700902512428                6.25           20080401           16.375          9.375
    45230          112500       20060501        1060.75       112458.78               90    No MI               100331700902539132                   0                                   0              0
    49347           82800       20060601         644.01           82800               90    No MI               100331700902599813               7.625           20080501           15.625          8.625
    33056          180000       20060501        1435.39       179899.61               75    No MI               100331700902558538               7.875           20080401             14.9            8.9
    77058          165600       20060501        1404.55       165520.25      78.86000061    No MI               100424906020024539                   8           20080401             15.6            9.6
    44431           71250       20060501         633.19        71219.47               95    No MI               100077440900756572                   0                                   0              0
    76002           72000       20060201         553.62        71823.66               80    No MI               100077440000607485                   0                                   0              0
    92504           60000       20060501         605.65        59981.85              100    No MI               100093900000115854                   0                                   0              0
    92504          240000       20060501        1811.48       239848.52               80    No MI               100093900000115847                 7.3           20080401             14.3            8.3
    78213           12600       20060501         129.96        12585.42              100    No MI               100150401069124861                   0                                   0              0
    78213           50400       20060501         387.18         50369.4               80    No MI               100150401069124879                   0                                   0              0
    34759          227610       20060501        1810.97        227482.4      67.94000244    No MI               100378000003144997                 5.5           20080401           14.875          8.875
    34759          224910       20060501        1789.48       224783.92      66.94000244    No MI               100378000003144971                 5.5           20080401           14.875          8.875
    34759          225810       20060501        1796.65        225683.4      69.05999756    No MI               100378000003144955               8.875           20080401           14.875          8.875
    38118           60000       20060101         465.61        59819.38      77.91999817    No MI               100077400205241175                   0                                   0              0
    40219           98400       20060601         804.83           98400               80    No MI               100330706030118146                 5.5           20080501           15.815          9.815
    48911          123250       20060501        1136.64       123202.07      82.16999817    No MI               100202930602240014                 5.5           20080401             16.6           10.6
    32839          163500       20060501        1555.81       163441.58               75    No MI               100202930602240022                 5.5           20080401            16.99          10.99
    32043          157000       20060501        1113.94       156886.94      82.19999695    No MI               100202930603130115                 5.5           20080401            13.65           7.65
    43227          104000       20060501         725.05       103922.35               80    No MI               100202930603170020                 5.5           20080401            13.47           7.47
    43130          108000       20060501         791.71       107927.39               80    No MI               100202930603140098                   0                                   0              0
    43130           68000       20060501         468.04        67947.89               80    No MI               100202930602270110                 5.5           20080401            13.34           7.34
    43081          168750       20060501        1179.92       168624.77               75    No MI               100202930602140115                 5.5           20080401             13.5            7.5
    43219           92650       20060501         777.65        92634.78               85    No MI               100202930602230049                 5.5           20080401           14.875          9.875
    23464          172800       20060501        1500.51       172721.49               90    No MI               100258910060101729                5.75           20080401           15.875          9.875
    46072           66400       20060501         585.16        66370.94               80    No MI               100330706030116447                 5.5           20080401            16.05          10.05
    28469          130000       20060301        1036.67       129780.88            81.25    No MI               100077440000666572                   0                                   0              0
    93535          260900       20060201        2099.27       260323.47               90    No MI               100077410800606086                   8           20080101               15              9
    29445           88000       20060201          612.3        86200.81      76.51999664    No MI               100077440000616965                   0                                   0              0
    46410           80100       20060401         549.14        79975.89      66.19999695    No MI               100077440000695811                   0                                   0              0
    45402           60000       20060401          539.9           59950               80    No MI               100077440000691307                   0                                   0              0
    72345           60000       20060301         537.91        59601.17      85.70999908    No MI               100077440000661557                   0                                   0              0
    43068          183350       20060501        1662.11        183275.4               95    No MI               100330706030116280                 5.5           20080401            16.39          10.39
    48205           71100       20060501         696.51        71076.57               90    No MI               100330706030116256                 5.5           20080401            17.36          11.36
     6360           90000       20060501         814.87        89963.25      63.38000107    No MI               100258910060201024                 5.5           20080401           16.375         10.375
    32837          100000       20060601         733.09          100000      54.04999924    No MI               100022100137468393                 5.5           20080501             14.5            8.5
    33785          199920       20060501        1537.21       199798.88               80    No MI               100073800000347958               5.125           20080401             14.5            8.5
    48206           64800       20060501         554.35        64769.45               90    No MI               100330706030116207                 5.5           20080401             15.7            9.7
    32641          104500       20060601         826.24          104500               95    No MI               100022100137425237                 5.5           20080501            15.25           9.25
    20744          346500       20060501        2743.12          346500      79.66000366    No MI               0.00E+00                             8           20080401             15.5            9.5
    48322          318750       20060501         2963.5       318628.69               75    No MI               100330706020110350                6.25           20080401             16.7           10.7
    46203           62900       20060501         613.31           62879               85    No MI               100330706030115381                 5.5           20080401             17.3           11.3
    46303          214700       20060501        1922.33       214609.78               95    No MI               100330706030116793                 5.5           20080401            16.24          10.24
    48220           94500       20060201         846.82        94339.43               90    No MI               100146410000010581               5.875           20080101            16.25          10.25
    48428          291200       20060401         1856.4          291200               80    No MI               100173200400012493                 5.5           20080301            13.65           7.65
    46617           40500       20060401         356.46        40464.29               90    No MI               100213300000126602                 5.9           20080301           16.035         10.035
    46226           24000       20060501         267.37        23994.63              100    No MI               100330706030114756                   0                                   0              0
    46226           96000       20060501         771.75        95947.45               80    No MI               100330706030116033                 5.5           20080401            14.99           8.99
    46052           99000       20060501         831.72         98951.2               90    No MI               100330706030117361                 5.5           20080401            15.49           9.49
    99212           48720       20060501         519.56        48667.34              100    No MI               100040788603001157                   0                                   0              0
    99212          194880       20060501        1559.64       194687.87               80    No MI               100040788603001140                 5.5           20080401            14.94           8.94
    47024           32900       20060401         307.73        32875.25               70    No MI               100213300000129937                5.75           20080301           16.775         10.775
    46205           54900       20060501         481.38        54875.66               90    No MI               100330706030117015                 5.5           20080401            15.99           9.99
    70460           94900       20060101         746.58        94622.99      79.15000153    No MI               100146410000009930                6.75           20071201            14.75           8.75
    83201          104000       20051201          615.2       103246.78               80    No MI               100146410000008668               5.875           20081101           11.875          5.875
    23223          192850       20060501        1569.09       192747.37      65.84999847    No MI               100031458006032123                 5.5           20080401           15.125          9.125
    78242           61000       20060501         592.47        60979.41              100    No MI               100424906030033207                 5.5           20080401            17.25          11.25
    17110           40400       20060501         454.81        40391.27              100    No MI               100258910060208979                   0                                   0              0
    29445           45000       20060501         568.47         44917.9               95    No MI               100263700040602919                   0                                   0              0
    29445          240000       20060501        1972.68       239875.32               80    No MI               100263700004060294                 5.5           20080401            15.24            5.5
    90746          489000       20060501        3779.49       488896.16      74.66000366    No MI               100246100006638233                 5.5           20080401            15.02            5.5
    29229          192164       20060501        1608.81       192068.48               80    No MI               100146850106083760                 5.5           20080401            15.45           9.45
    36274           63000       20060501         593.07        62976.82               90    No MI               100378000003144732                   0                                   0              0
    23803           76500       20060501            612           76500               85    No MI               100378000003142017                 5.5           20080401             15.6            9.6
    32119          123300       20060501        1042.63       123240.17               90    No MI               100378000003141977                 5.5           20080401           15.565          9.565
    30331          105300       20060501         802.93       105276.73               90    No MI               100378000003141647                 5.5           20080401           14.885          8.885
    27707           78600       20060501         812.42        78577.84      74.86000061    No MI               100378000003140417                 5.5           20080401           18.065         12.065
    32818          184500       20060501        1640.29       184421.04               90    No MI               100378000003139831                 5.5           20080401           16.155         10.155
    30126          126000       20060501         1005.9          126000               90    No MI               100378000003138122                 5.5           20080401            15.58           9.58
    33056          160000       20060501        1037.23        159862.1      84.20999908    No MI               100378000003137496                6.25           20080401           12.745          6.745
    45426           20800       20060501         207.41        20793.48              100    No MI               100378000003137264                   0                                   0              0
    45426           83200       20060501         601.81        83142.46               80    No MI               100378000003137249                   0                                   0              0
    63121           69700       20060501         700.25        69678.63               85    No MI               100378000003137231                   7           20080401           17.688         11.688
    92252          192000       20060501         1539.2          192000               80    No MI               100378000003136225                9.37           20080401            15.62           9.62
    45417           53125       20060501         443.41         53098.4               85    No MI               100378000003134907                   0                                   0              0
    43609           12700       20060501         134.75         12696.7              100    No MI               100378000003134428                   0                                   0              0
    43609           50800       20060501         414.24        50773.11               80    No MI               100378000003134329                 5.5           20080401            15.15           9.15
    63113           56250       20060401         458.68        56190.23      79.23000336    No MI               100378000003133073                 5.5           20080301            15.15           9.15
    21801           67500       20060501         560.69        67465.81               90    No MI               100378000003132802                 5.5           20080401            15.36           9.36
    30022          161000       20060401        1341.46       160837.44      70.93000031    No MI               100378000003132786                 5.5           20080301           15.395          9.395
    32208           69275       20060401         579.22        69205.63               85    No MI               100378000003131796                 5.5           20080301           15.435          9.435
    33331          189169       20060401        1513.94       188958.96      59.11999893    No MI               100378000003131242                 7.5           20080301            14.94           8.94
    71104          112000       20060501         985.36       111950.77               80    No MI               100378000003131127                 5.5           20080401            16.03          10.03
    30308          314500       20060401        2882.73       314250.31               85    No MI               100378000003130806                 5.5           20080301           16.525         10.525
     6704           73350       20060401            712        73249.92               90    No MI               100378000003130194                   0                                   0              0
    33321          222400       20060401        1870.06       222180.35               80    No MI               100378000003130160                 5.5           20080301             15.5            9.5
    64130           87550       20060401         809.05        87481.96               85    No MI               100378000003129345                 5.5           20080301           16.625         10.625
    49327          126000       20060401          998.9       125857.03               90    No MI               100378000003128578                 5.5           20080301           14.835          8.835
    33305          233750       20060401        2185.53       233573.97               85    No MI               100378000003128297                 5.5           20080301            16.77          10.77
    93535          254700       20060501        1987.38        254550.7               90    No MI               100378000003128271                 5.5           20080401            14.66           8.66
    45405           50310       20060401         435.38        50263.71               90    No MI               100378000003126572                 5.5           20080301           15.835          9.835
    20774          276250       20060401        2317.05          276250               85    No MI               100378000003126564                 5.5           20080301           16.065         10.065
    30236          105039       20060401         921.02       104945.47               90    No MI               100378000003126432                 5.5           20080301            15.99           9.99
    30043          123750       20060401        1053.22       123631.33               75    No MI               100378000003125269                 5.5           20080301            15.64           9.64
    30060          121500       20060401         957.32          121500               90    No MI               100378000003124049                 5.5           20080301           15.455          9.455
    45406           53125       20060401         429.75        53067.47               85    No MI               100378000003124031                 5.5           20080301            15.06           9.06
    30152          111600       20060401         879.31          111600               90    No MI               100378000003123991                 5.5           20080301           15.455          9.455
    30152          103500       20060401         815.49          103500               90    No MI               100378000003123975                 5.5           20080301           15.455          9.455
    30354           90990       20060401         722.98        90887.28               90    No MI               100378000003123074                 5.5           20080301            14.86           8.86
    30458          138890       20060401        1247.18       138773.64               95    No MI               100378000003123017                 5.5           20080301           16.275         10.275
    30630          135000       20060401         1036.6       134835.34               90    No MI               100378000003122365                 5.5           20090301           14.485          8.485
    20748          280000       20060401        2216.67          280000               80    No MI               100378000003122233                 5.5           20080301             15.5            9.5
    30281           86400       20060401         795.83        86332.28               90    No MI               100378000003121557                 5.5           20080301           16.585         10.585
    30601           74610       20060401         709.11           74610               90    No MI               100378000003121474                 5.5           20080301           17.405         11.405
    20705           27300       20060301         292.31        27279.05      89.84999847    No MI               100378000003120682                   0                                   0              0
    36054           90000       20060401         798.14        89922.15               90    No MI               100378000003119916                   6           20080301           16.125         10.125
    78244           90000       20060301         755.78        89865.73               90    No MI               100378000003118082                 5.5           20080201           15.485            5.5
    78244           85500       20060301         717.99        85372.45               90    No MI               100378000003118066                 5.5           20080201           15.485            5.5
    71101           90000       20060301         792.14        89880.46               80    No MI               100378000003117761                 5.5           20080201           16.035         10.035
    34473          169875       20060501        1420.97       169790.38               75    No MI               100378000003117258                 5.5           20080401            15.44           9.44
    78250          100800       20060301         859.37       100655.05               80    No MI               100378000003113190                   0                                   0              0
    35810           66400       20060401          535.7        66327.65               80    No MI               100378000003112820                 5.5           20080301            15.03           9.03
    30281          221000       20060401        1806.11       220766.35               85    No MI               100378000003111095                 5.5           20080301           15.175          9.175
    60156          248000       20060301        2222.33       247532.07               80    No MI               100378000003106673                   6           20080201            16.25          10.25
    21040          110400       20060201         798.32       109484.35               80    No MI               100378000003102714                   7           20080101            14.75           8.75
    77053          104500       20060301         965.68       104377.66               95    No MI               100378000003101187                   7           20080201           16.625              7
    33178          499500       20060201        3694.22          499500               90    No MI               100378000003100783               8.625           20080101           14.875          8.875
    30034          204000       20060201        1211.18       203988.38               80    No MI               100378000003100668                2.25           20110101           12.125           2.25
    20746          260000       20060201        2031.25          260000               80    No MI               100378000003099076               7.125           20090101           15.375          9.375
    43351           87400       20060201         703.24        87206.88               95    No MI               100378000003095199                   7           20080101               15              9
    30127          164050       20060101        1379.42       163640.11               85    No MI               100378000003091180                   8           20071201             15.5            9.5
    42129           72250       20060201            597        72100.02               85    No MI               100378000003090059                7.25           20080101             15.3            9.3
    31801          116100       20060101        1072.88       115871.29               90    No MI               100378000003086768                   0                                   0              0
    30013          249870       20060101        2055.62       248917.88               95    No MI               100378000003079565                   8           20071201            15.25           9.25
    27954          334400       20060301        2820.36       333906.28               80    No MI               100378000003074046                 5.5           20080201           15.535          9.535
    46323          104400       20051201         848.25          104400               90    No MI               100378000003067818                7.25           20071101            15.75           9.75
    48458          171950       20060501         1606.3          171950             90.5    No MI               100330706030114830                 5.5           20080401            17.21          11.21
    86401          207000       20060501        1708.94       206893.58               90    No MI               0.00E+00                             6           20080401            15.29           9.29
    85226          177100       20060501        1276.73       176976.63               70    No MI               100141900603080150                6.25           20080401           13.815          7.815
    22712          277500       20060501           1813          277500               75    No MI               100212504000260052                 5.5           20080401            13.84           7.84
    45044           81000       20060101         643.02        80768.38               90    No MI               0.00E+00                             0                                   0              0
     7631          328500       20060501        2600.62          328500               90    No MI               100144600097445144                 5.5           20080401             15.5            9.5
    93304          212000       20060501        1626.34       211870.91               80    No MI               100144600097447546                 5.5           20080401           14.475          8.475
    23505           30200       20060501         301.95        30190.61              100    No MI               100258910061120371                   0                                   0              0
    23505          120800       20060501         865.43       120714.74               80    No MI               100258910051103692                 5.5           20080401            13.75           7.75
    63109          121500       20060401        1026.07       121381.25               90    No MI               100150402069000648                 7.8           20080301            15.55           9.55
    55412          112500       20060601         945.96          112500      69.87999725    No MI               1001419-0060224002                   0                                   0              0
    33615          205100       20060501         1365.4       205065.62               70    No MI               100258920060103054                5.99           20080401            13.99           7.99
    98632          133700       20060401        1070.07       133648.72               70    No MI               100258910060116883                 5.5           20080301           15.375          9.375
     2914          225000       20060401        1617.19          225000               90    No MI               100258910051011580                 5.5           20080301           14.625          8.625
    95820          235000       20060501        1721.07       234841.68      69.12000275    No MI               100151802206030003                   0                                   0              0
    33844           22000       20060501         233.43        21994.27              100    No MI               100022100136867876                   0                                   0              0
    33844           88000       20060501         648.17        87941.43               80    No MI               100022100136866886                 5.5           20080401            14.04           8.04
    89148          216592       20060501        1596.83       216448.14               80    No MI               100246100006639728                 5.5           20080401            14.05           8.05
    85304          225000       20060501        1569.38       224832.18      83.33000183    No MI               100144600097447280                 5.5           20080401           13.475          7.475
    95682          179500       20060501        1684.19       179479.92      76.37999725    No MI               100258910060213839                 5.5           20080401           17.125         11.125
    22630          283100       20060501        2048.51       283027.29               95    No MI               100258910060206502                 5.5           20080401           14.375          8.375
    22602          234000       20060501        1583.29       233927.96               90    No MI               100258920060200702                 5.5           20080401            13.75           7.75
    85302          124000       20060501        1216.62       123959.31               80    No MI               100153210601033325                6.25           20080401            17.38          11.38
    45240           82800       20060501         781.65        82769.76      78.86000061    No MI               100022100136821253                 5.5           20080401            16.89          10.89
    33024          238000       20060501        2177.08       237905.42               85    No MI               100258940060202243                6.99           20080401             16.5           10.5
    46410          105600       20060501         794.29       105575.71               80    No MI               100258910060200158                 5.5           20080401            14.75           8.75
    22406          199500       20060501        1787.72       199416.34               70    No MI               100258910060114672                5.75           20080401            16.25          10.25
    32257          109900       20060501         835.32       109831.69               70    No MI               100258950060204651                5.75           20080401           14.375          8.375
    36303          166500       20051001        1439.68        165868.5               90    No MI               100085600022606852                   9           20080901           15.825              9
    33167          184000       20060501        1520.39       183905.61               80    No MI               0.00E+00                           5.5           20080401             15.3            9.3
    46060          161111       20060401        1216.04       160906.92               80    No MI               100150402069000051                 7.3           20080301             14.3            8.3
    43205          107100       20060501         847.15       107039.14               90    No MI               100330706030115670                 5.5           20080401            14.81           8.81
    37302          151300       20060501        1310.47       151230.82               85    No MI               0.00E+00                             6           20080401           15.845              6
    30288          167000       20060201        1095.83       166983.59      68.94999695    No MI               100016900059505306                5.75           20080101           13.875          7.875
    45356           83000       20060501         829.87        82974.19      93.26000214    No MI               100022100136683224                   0                                   0              0
    43203          108000       20060501         854.27       107938.63               90    No MI               100330706030113873                 5.5           20080401            14.81            5.5
    19344           80000       20060501         620.81        79952.52      29.63999939    No MI               100076500000940623                   0                                   0              0
     8081          155800       20060501        1550.01       155750.86               95    No MI               100076500000989380                 5.5           20080401            17.56            5.5
     2886          140000       20060501        1227.57       139937.93            43.75    No MI               100102600400528057                 5.5           20080401            14.99           9.99
    78228          111999       20060401        1032.88       111911.26               80    No MI               100101300000011270                7.18           20090301             16.6           7.18
    46203           51000       20060501         497.28        50982.97               85    No MI               100330706030114772                 5.5           20080401             17.3           11.3
    22172          582350       20060501        4488.95          582350               85    No MI               100031458006031505                 5.5           20080401            15.25           9.25
    91766          400000       20060501        3172.55       399774.12               80    No MI               100153290000008011                 5.5           20080401            14.84           8.84
    28677           68000       20060501         632.21        67974.12               80    No MI               100213300000131743                   0                                   0              0
    75965           63000       20060301          645.6        62944.77              100    No MI               100213300000125539                   0                                   0              0
    75965          252000       20060301           1869          252000               80    No MI               100213300000125521                 5.9           20080201             14.9            8.9
    95758           78000       20060501         901.63        77929.07              100    No MI               100040788603000563                   0                                   0              0
    95758          312000       20060501         2670.2          312000               80    No MI               100040788603000555                 5.5           20080401            16.27          10.27
    29323         52962.5       20060501         537.45        52946.73               95    No MI               100263700004058876                   0                                   0              0
    78260          270215       20060501        2471.76       270107.62              100    No MI               100424906030031219                   8           20080401             16.5           10.5
    33063          260000       20060501        2004.71       259743.46               80    No MI               100467800000196607                 5.5           20080401            14.53           8.53
    30540          156000       20060501        1248.48       155913.72               80    No MI               1001330-0100054719                 5.5           20080401            14.94           8.94
    29680          118500       20060401        1137.47       118416.93              100    No MI               100213300000130059                5.75           20080301             17.1           11.1
    78641           23400       20060401         270.33        23390.66              100    No MI               100213300000126578                   0                                   0              0
    48206           63000       20060501          568.2        62974.02               90    No MI               100330706030114319                   0                                   0              0
    78641           93600       20060401          690.3           93600               80    No MI               100213300000126560                 5.5           20080301            14.85           8.85
    60120          192000       20060501         1702.7        191917.3               80    No MI               100016900061164043                   0                                   0              0
    40214           76000       20060501         772.98        75977.52               80    No MI               100330706030113816                6.25           20080401            17.85          11.85
    77092           50000       20060401         476.16        49964.18              100    No MI               100424906020024950                5.58           20080301               17             11
    64055           77375       20060501         736.86        77347.41      89.97000122    No MI               100101309060302248                 5.5           20080401               17             11
    48205          119700       20060501         962.27       119634.48               90    No MI               100330706020110608                 5.5           20080401            14.99           8.99
    48075          369200       20060201        3363.42          368599              100    No MI               100213300000120134                5.75           20080101            16.45          10.45
    78227           18000       20060301         173.58        17928.21              100    No MI               100150401069124820                   0                                   0              0
    78227           72000       20060301         672.11        71917.94               80    No MI               0.00E+00                           5.5           20090201            16.75          10.75
    22204          198750       20060501        1635.55          198750               75    No MI               100022100136417177                   6           20080401           15.875          9.875
    85029          175000       20060501        1220.04       174869.34      79.55000305    No MI               100386100002114247                 5.5           20080401            13.47           7.47
    33901          104000       20060501         788.64       103935.03               80    No MI               100144600097444709                 5.5           20080401            14.35           8.35
    61231           50000       20060501         409.17        49973.75      74.62999725    No MI               100404400000028482                 5.5           20080401            15.19           9.19
    19129          233750       20060501         1593.4          233750               85    No MI               100076500000944476                 5.5           20080401            13.18           8.18
    17110          161600       20060501        1129.93       161480.07               80    No MI               100258910060202345                 5.5           20080401             13.5            7.5
    94509          460000       20060501        3163.96       459864.37               80    No MI               100258920060202880                 5.5           20080401             13.9            7.9
    23513          155200       20060501        1111.87       155090.46               80    No MI               100258910060207732                 5.5           20080401            13.75           7.75
    30088          121500       20060401        1098.56          121500               90    No MI               100148700006020107                 5.5           20080301            16.85          10.85
    32725          162000       20060501         1242.2       161843.45               90    No MI               100386100002113520                 5.5           20080401            14.47           8.47
    63135           84000       20060501         649.76        83949.79               80    No MI               0.00E+00                           5.5           20080401           14.565          8.565
    55404          156000       20060401            988          156000               80    No MI               100192820060012785                5.99           20090301             14.6           5.99
    98422          323955       20060401        2112.46          323955               90    No MI               100192820060012066                6.75           20080301           14.825           6.75
    97304           33400       20060401         362.96        33383.75              100    No MI               100192820060011647                   0                                   0              0
    97304          133600       20060401         979.38       133419.75               80    No MI               100192820060011639                5.99           20090301            14.99           5.99
    33322          132000       20060501          962.5          132000               80    No MI               100192820060008932                7.24           20080401            15.75           7.24
    29302           68000       20060401         641.17        67949.93               85    No MI               100192820060005813                   0                                   0              0
    81525          200000       20060401        1383.33          200000      65.56999969    No MI               100192820060005755                5.99           20080301             15.3           5.99
    91762          320000       20060301           2120          320000      76.19000244    No MI               100192820060004584                5.99           20080201            14.95           5.99
    90037          320000       20060401        2511.73       319628.53               80    No MI               100192820060004428                5.99           20090301           15.725           5.99
    92545          160000       20060301         986.67          160000               80    No MI               100192820060003461                5.99           20090201             14.4           5.99
    84020          448000       20060301        2948.16       447552.73               80    No MI               100192820060002158                6.49           20080201             14.5            7.5
    92553          280000       20060301        1760.38       279687.02               80    No MI               100192820060001192                5.99           20080201             14.1            7.1
    92114          428000       20060401        2582.37       427649.28      94.06999969    No MI               100192820060001184                5.99           20080301            12.75           5.99
    85017          121000       20060301         879.43       120749.82      70.34999847    No MI               100192820060000749                6.49           20080201             14.9           6.49
    93722          199500       20060301        1163.75          199500               70    No MI               100192820060000400                5.99           20090201               14           5.99
    85225          132000       20060401            935          132000               80    No MI               100192820060000087                6.49           20080301             15.5           6.49
    85033          160000       20060301        1091.48       159623.29               80    No MI               100192820050084885                6.25           20080201            14.25           6.25
    90640          470000       20060301        3113.75          470000      82.16999817    No MI               100192820050082574                5.99           20080201            14.95           5.99
    32333           40000       20060301         349.55        39945.91      66.66999817    No MI               100192820050080594                7.49           20080201            16.95           7.49
    89134          401380       20060201        3519.43       400659.29               80    No MI               100192820050062105               6.865           20080101            16.99          6.865
    89146          225000       20060401        1573.24       224664.98               90    No MI               100052697806747778                 5.5           20090301             13.5            7.5
    89123          287100       20060401         2009.7          287100               90    No MI               100052697806717771                6.05           20080301             14.4            8.4
    89142          188000       20051201         1010.5          188000               80    No MI               100052697803867777                 5.8           20071101            12.45           6.45
    90062          294000       20060401           1617          294000               70    No MI               100052690976652787                 5.8           20080301             12.6            6.6
    91324          539750       20060101         3013.6          539750               85    No MI               100052690964872785                 5.7           20071201             12.7            6.7
    90746          500000       20060101        3665.34       498296.61      85.62000275    No MI               100052690964792785                 5.5           20071201            13.99           7.99
    90808          553600       20060101        2992.97          553400               80    No MI               100052690964662780                5.95           20071201            12.49           6.49
    92392          339150       20060101        2913.83       338345.86               95    No MI               100052690964552783                 5.5           20071201            15.75           9.75
    90044          230000       20060101        1504.58          230000      55.41999817    No MI               100052690962972785                   6           20071201            13.85           7.85
    90061          369750       20060101        2634.47          369750               85    No MI               100052690957852786                 5.7           20071201            14.55           8.55
    90638          425000       20051001        2231.25          425000      74.55999756    No MI               100052690951202780                 5.5           20070901             12.3            6.3
    90045          305000       20050901        1394.22       304194.46      37.20000076    No MI               100052690946662783                 5.5           20070801             11.5            5.5
    90241          620000       20050801        3159.86       619073.98      87.31999969    No MI               100052690941872783                5.65           20080701           12.125          6.125
    59105          152800       20060401        1084.14       152579.22               80    No MI               100052690860826786                5.75           20080301            13.65           7.65
    98516          199750       20060401        1376.23        199439.1               85    No MI               100052690860636789                 5.5           20090301            13.35           7.35
    99005          216504       20060401        1389.23          216504               80    No MI               100052690860246787                 5.8           20090301             13.7            7.7
    59803          240000       20060401         1777.8       239683.33      84.20999908    No MI               100052690859406780                 5.5           20080301             14.1            8.1
    83642          142500       20060301        1198.22       142288.05               95    No MI               100052690858996781                 5.5           20080201             15.5            9.5
    98270          336000       20060301         2973.5       335559.82               84    No MI               100052690857756780                6.25           20080201             16.1           10.1
    59865          133600       20060301         1013.1       133347.85               80    No MI               100052690856796787                 5.5           20080201            14.35           8.35
    98374          272650       20051201         2029.2       271567.05               95    No MI               100052690845226789                 5.5           20071101            14.15           8.15
    98271          200000       20050901         1312.5          200000               80    No MI               100052690837226789                5.75           20070801           13.875          7.875
    83634          106250       20050901         774.74          106250               85    No MI               100052690835536783                5.75           20070801            14.75           8.75
    99207           62300       20050701         376.29        62282.15      75.69999695    No MI               100052690829106783                5.75           20070601            13.25           7.25
    97233          176800       20060401        1075.53          176800               80    No MI               100052690800594783                 5.8           20090301             13.3            7.3
    50320          192000       20060401        1349.08       191716.95               80    No MI               100052686837024448                 5.5           20080301            13.55           7.55
    62294          156750       20060401        1238.76       156570.83               95    No MI               100052686836434440                 5.5           20080301             14.8            8.8
    65274           50350       20060401         460.58        50309.79               95    No MI               100052686836394446                   6           20080301             16.5           10.5
    68112          115000       20060401        1004.97       114896.72              100    No MI               100052686835744443                 5.5           20080301            15.95           9.95
    51521           62300       20060401         429.23        62204.43               70    No MI               100052686835444440                   6           20080301            13.35           7.35
    63010          125000       20060401        1004.88       124862.52              100    No MI               100052686835354441                 5.5           20080301            14.99           8.99
    63846           60000       20060401         482.78        59934.19              100    No MI               100052686834854441                6.25           20090301               15              9
    67735           50500       20060301         439.45        50429.85              100    No MI               100052686834844442                   6           20080201             15.9            9.9
    67216           52000       20060401          427.8        51945.86              100    No MI               100052686834744444                   6           20080301            15.25           9.25
    68467           61500       20060401         551.11        61448.18              100    No MI               100052686834614449                   6           20080301            16.25          10.25
    67005           58425       20060401         499.82        58369.68               95    No MI               100052686834264443                   6           20080301             15.7            9.7
    64504           54750       20060301         525.13        54692.02               75    No MI               100052686834094444                6.25           20080201            17.09          11.09
    66202          108000       20060301         815.17       107794.07               80    No MI               100052686833414445                 5.5           20080201             14.3            8.3
    63123           55200       20060301         438.21        55105.98      80.58000183    No MI               100052686833334445                6.25           20080201            14.85           8.85
    50702          128250       20060301        1092.46       128065.17               95    No MI               100052686832994447                 5.5           20080201            15.65           9.65
    52402          105000       20060301         856.22       104831.83      94.58999634    No MI               100052686832184445                 5.5           20080201            15.15           9.15
    63118          114750       20060101         906.84       114415.27               85    No MI               100052686830974441                6.25           20071201             14.8            8.8
    63121           68400       20051201         612.94        68224.02               80    No MI               100052686829434449                6.25           20071101            16.25          10.25
    64130           51000       20060101         380.37           51000               85    No MI               100052686829224444                6.25           20071201            14.95           8.95
    64130           51000       20060101         380.37           51000               85    No MI               100052686829214445                6.25           20071201            14.95           8.95
    50440           54900       20060101         424.87        54733.68               90    No MI               100052686828324443                   6           20071201            14.57           8.57
    68137          135755       20051201        1141.51       135273.28               95    No MI               100052686827714446                 5.5           20071101             15.5            9.5
    50472          102600       20060101         774.41       102271.69               90    No MI               100052686827064446                 5.5           20071201             14.3            8.3
    63112          311400       20050901        2282.78       309464.65               90    No MI               100052686821484442                6.25           20070801            13.99           7.99
    64109          264000       20050901         1314.5          264000               80    No MI               100052686819714446                 5.5           20070801           11.975          5.975
    64110           78450       20051001         644.83        78114.96              100    No MI               100052686819674442                 5.8           20070901            15.24           9.24
    66102           63750       20050701         512.49        63347.41               75    No MI               100052686816514443                6.25           20070601            14.99           8.99
    63107           76500       20050701         574.72        75944.27               85    No MI               100052686813754448                6.05           20070601            14.25           8.25
    85044          156000       20060401         1038.7          156000               80    No MI               100052680883011797                 5.8           20090301            13.99           7.99
    81223          199400       20060401        1720.49       199215.13      97.26999664    No MI               100052680882651791                 5.5           20080301             15.8            9.8
    85032          440000       20060101        3764.14       438945.73               80    No MI               100052680878801798                5.65           20071201             15.7            9.7
    85259          702000       20060101        3656.25          702000               90    No MI               100052680876941794                5.95           20071201            12.25           6.25
    85040          135750       20051101        1193.47          135750               75    No MI               100052680873061794                5.75           20071001            16.55          10.55
    85323          324000       20051201         2281.5          324000      88.51999664    No MI               100052680871251793                6.25           20071101            14.45           8.45
    85053          309600       20050901           2451        309599.7               90    No MI               100052680869561799                6.25           20070801             15.5            9.5
    85239          264000       20051001           2123          264000               80    No MI               100052680869391791                5.65           20070901            15.65           9.65
    86326          171200       20050801          820.3       171192.07               80    No MI               100052680864631795                5.75           20070701            11.75           5.75
    85239          123549       20050801          612.6          123549               80    No MI               100052680864581792                5.75           20070701            11.95           5.95
    84044          129600       20060401          826.2          129600               80    No MI               100052606994236197                   6           20090301            13.65           7.65
    80021          156000       20060401            988          156000               80    No MI               100052606993846194                 5.5           20090301             13.6            7.6
    80122          202300       20060401        1292.01       201940.29               85    No MI               100052606993456192                   6           20090301             12.6            6.6
    80102          135575       20060401         706.12          135575               85    No MI               100052606993166197                6.25           20090301            12.25           6.25
    80403          194280       20060401        1068.54          194280               80    No MI               100052606992616192                   6           20090301             12.6            6.6
    80465          168000       20060401            924          168000               80    No MI               100052606992406198                5.55           20090301             12.6            6.6
    90810          346500       20060401        1992.38          346500               70    No MI               100052606992376193                5.55           20090301             12.9            6.9
    80211          152000       20060401            874          152000      77.94999695    No MI               100052606992186196                   6           20080301             12.9            6.9
    84120          103200       20060401         714.54       103043.24               80    No MI               100052606991876193                   6           20090301             13.4            7.4
    33172          150000       20060401        1180.06       149806.67      78.94999695    No MI               100052606991356196                   6           20080301            14.75           8.75
    80526          203920       20060401        1299.99          203920               80    No MI               100052606990616194                 5.8           20090301            13.65           7.65
    81089           70300       20060301         616.42        70205.71               95    No MI               100052606988626197                   6           20080201            15.99           9.99
    80534          164065       20060201        1308.32       163579.89               95    No MI               100052606986016193                 5.5           20080101             14.9            8.9
    80221          200000       20051001         998.33          200000               80    No MI               100052606971116198                5.75           20070901            11.99           5.99
    80214          165000       20050901        1189.31       164991.07      73.01000214    No MI               100052606968816198                6.25           20070801            14.65           8.65
    92116          335750       20060401        1846.63          335750               85    No MI               100052605993359224                 5.8           20090301             12.6            6.6
    91915          418500       20060401        2685.37          418500               90    No MI               100052605992939224                6.25           20110301             13.7            7.7
    92083          337500       20060401        2123.44          337500               90    No MI               100052605992479221                 5.8           20090301            13.55           7.55
    85742          207000       20060401        1878.53          207000               90    No MI               100052605992439225                6.25           20080301            16.89          10.89
    92139          358800       20060401        1988.35          358800               80    No MI               100052605992019225                 5.8           20080301            12.65           6.65
    93651          399000       20060401           2527          399000               95    No MI               100052605991859225                 5.8           20080301             13.6            7.6
    92024          573750       20060401        3872.81          573750               85    No MI               100052605988939659                 5.8           20080301             14.1            8.1
    93610          285300       20060401        1985.21          285300               90    No MI               100052605988219656                6.05           20080301            14.35           8.35
    92562          510000       20060201         3612.5          510000               85    No MI               100052605987519221                 5.8           20080101             14.5            8.5
    95991          430374       20060201        3385.76       429372.65               95    No MI               100052605986099654                 5.5           20080101            14.75           8.75
    92308          417050       20051201        3162.53        415459.2               95    No MI               100052605984139221                 5.5           20071101            14.35           8.35
    93906          465800       20051201        2251.37          465800               85    No MI               100052605981229652                 5.7           20071101             11.8            5.8
    60647          320000       20051101           1864          320000               80    No MI               100052605980439229                3.85           20071001            12.99           6.99
    95670          271800       20051101        1744.05          271800               90    No MI               100052605980239652                6.25           20071001             13.7            7.7
    95111          531250       20051201        3043.62          531250               85    No MI               100052605980089651                5.65           20071101           12.875          6.875
    93703          146500       20051101         883.06       145473.39            73.25    No MI               100052605979309656                 5.5           20071001            12.05           6.05
    95212          393989       20051101        1871.45          393989               80    No MI               100052605978979657                5.65           20071001             11.7            5.7
    92109          355131       20051001        1812.65          355131      89.94000244    No MI               100052605978739226                5.99           20080901           12.125          6.125
    94566          370000       20051001        1927.08          370000      44.31000137    No MI               100052605977979229                5.99           20070901            12.25           6.25
    91351          198750       20051001        1002.01        198746.1               75    No MI               100052605976429226                5.75           20070901            12.05           6.05
    92114          360000       20051001           1785          360000      76.59999847    No MI               100052605976239229                 5.5           20070901            11.95           5.95
    93612          157000       20051201         971.79       156103.07      60.38000107    No MI               100052605975119653                5.75           20081101             12.3            6.3
    92021          164000       20051001          799.5          164000               80    No MI               100052605974929227                6.25           20070901            11.85           5.85
    93309          175000       20051001        1048.09       173578.06      63.63999939    No MI               100052605974399652                 5.5           20070901            11.99           5.99
    93635          245000       20051101        1990.63          245000      66.04000092    No MI               100052605974109655                5.75           20071001            15.75           9.75
    93705          160000       20050901         805.24       159981.63               80    No MI               100052605972109657                5.75           20080801            12.04           6.04
    95122          480000       20050901        2339.95          479990               80    No MI               100052605971719654                 5.5           20070801            11.85           5.85
    92101          528300       20050801        4072.31          528300               90    No MI               100052605967729220                6.25           20070701            15.25           9.25
    92586          157250       20050801         753.49          157250               85    No MI               100052605967419228                5.75           20070701            11.75           5.75
    92065          430400       20050801         1936.8          430400               80    No MI               100052605966929227                 5.4           20070701             11.4            5.4
    92503          195000       20050701         999.38          195000      76.47000122    No MI               100052605965469225                5.25           20070601            12.15           6.15
    71033          154800       20060401        1071.81       154514.55               80    No MI               100052644769694266                5.55           20080301             13.4            7.4
    34222          285000       20060401        2498.98       284746.24               95    No MI               100052644764204269                 5.5           20080301            15.99           9.99
    98271          189000       20060401         1417.5          189000               90    No MI               100052644762544260                6.05           20080301               15              9
    74601           60800       20060401         484.85        60731.91               95    No MI               100052644758424261                   6           20080301             14.9            8.9
    67206           75000       20060401         647.13        74930.46      83.33000183    No MI               100052644752334268                6.25           20080301             15.8            9.8
    50273          133000       20060401        1167.18       132881.81               95    No MI               100052644749144267                   6           20080301               16             10
    64064          200000       20060401        1446.67       199722.42      79.37000275    No MI               100052644748214269                6.25           20090301            13.85           7.85
    66102           85600       20060401         773.44        85529.42               80    No MI               100052644747324267                6.25           20080301            16.35          10.35
    66762           55005       20060401         480.68         54955.6               95    No MI               100052644744964263                 6.2           20080301            15.95           9.95
    50438           60600       20060401         572.54        60555.62              100    No MI               100052644744684267                6.25           20080301             16.9           10.9
    63851           61000       20060401         528.57        60944.05              100    No MI               100052644743814261                6.15           20080301            15.85           9.85
    72903           64900       20060401         526.88         64830.3              100    No MI               100052644743524266                6.25           20080301             15.1            9.1
    50112           94000       20060401         895.19        93932.65              100    No MI               100052644732324264                6.25           20080301               17             11
    75569           51805       20060401         473.89        51763.62              100    No MI               100052644729194266                6.25           20080301             16.5           10.5
    72401          112500       20060301         986.44       112349.12      94.94000244    No MI               100052644729174268                5.75           20080201            15.99           9.99
    50401          100000       20060401         896.11        99915.76              100    No MI               100052644728444266                6.25           20080301            16.25          10.25
    50167           74250       20060401         718.35        74199.06               90    No MI               100052644727574261                6.25           20080301             17.2           11.2
    65786           98800       20060301         830.77        98653.03               95    No MI               100052644726774268                 5.8           20080201             15.5            9.5
    41005          174800       20060301        1463.45       174534.32               95    No MI               100052644725544266                 5.5           20080201            15.45           9.45
    97305          105000       20060301         814.82       104811.69      92.91999817    No MI               100052644724714266                 5.5           20080201             14.6            8.6
    74070          132050       20060301        1157.86       131872.91               95    No MI               100052644724634266                5.89           20080201            15.99           9.99
    33021           55000       20060201         398.79         54847.1               44    No MI               100052644721104263                   0                                   0              0
    75020           50000       20060201         479.95        49929.23               95    No MI               100052644716244264                   6           20080101             17.1           11.1
    50242           53100       20060301         509.71         53043.3               90    No MI               100052644715954269                6.25           20080201             17.1           11.1
    61071          123500       20060201        1115.88       123294.59               95    No MI               100052644714454261                5.75           20080101            16.35          10.35
    95965          223250       20060201        1916.23          223250               95    No MI               100052644709624266                5.85           20080101             16.3           10.3
    76116           54000       20060201          483.9        53908.23               90    No MI               100052644702244260                6.25           20080101            16.25          10.25
    67460           73625       20060201         659.76        73499.89               95    No MI               100052644696354265                   6           20080101            16.25          10.25
    63010          186000       20060101        1550.44       185525.43              100    No MI               100052644691874267                 5.9           20071201             15.4            9.4
    52748          133000       20060101        1162.26       132697.68               95    No MI               100052644687594267                6.25           20071201            15.95           9.95
    64132           92150       20051201         721.66        91820.21               95    No MI               100052644681904264                 5.8           20071101             14.7            8.7
    98532          209000       20051201        1680.16       208300.61               95    No MI               100052644662384262                5.69           20071101            14.99           8.99
    74954           82400       20051001         689.86        82063.14               80    No MI               100052644631484268                6.25           20070901            15.45           9.45
    98003           88000       20050901         560.81        87970.95               80    No MI               100052644604114264                6.25           20070801            13.65           7.65
    67016           50150       20050901         407.14        49901.02               85    No MI               100052644594384265                   6           20080801             15.1            9.1
    72644           79000       20050801         675.84         78549.3              100    No MI               100052644591314265                6.25           20070701             15.7            9.7
    85032          193000       20050801        1366.14       192867.25      58.13000107    No MI               100052644570124263                5.75           20070701             14.5            8.5
    63701           97750       20050701         757.55        97748.23               85    No MI               100052644542104260                6.25           20070601             15.3            9.3
    75048           92000       20060401         636.99        91860.25               80    No MI               100052644116624362                 5.5           20090301             13.4            7.4
    76137           88800       20060401         567.13        88642.11               80    No MI               100052644115704363                 5.5           20090301             12.6            6.6
    75088          102400       20060401         737.15       102256.43               80    No MI               100052644115264368                 5.5           20090301             13.8            7.8
    75189          128725       20060401        1035.76       128583.83               95    No MI               100052644115204364                 5.5           20080301               15              9
    37716           53500       20060401         469.11        53452.36              100    No MI               100052644115184368                   6           20080301            15.99           9.99
    67401           77900       20060401         677.88         77829.3              100    No MI               100052644115134363                 5.8           20080301             15.9            9.9
    38109           52000       20060401         424.03        51944.73              100    No MI               100052644114954365                   6           20080301            15.15           9.15
    75062           87400       20060501         731.73        87356.55               95    No MI               100052644114934367                 5.5           20080401            15.45           9.45
    76201           79350       20060401         624.25        79258.35      88.06999969    No MI               100052644114794365                   0                                   0              0
    37207          111800       20060401         728.86        111608.8               80    No MI               100052644114684368                 5.5           20080301             12.8            6.8
    37920          109155       20060401         957.92       109057.52               95    No MI               100052644114664360                 5.5           20080301               16             10
    76137          123165       20060401         882.37       122990.58               85    No MI               100052644114594369                 5.5           20090301            13.75           7.75
    78219           89000       20060401         693.82        88895.06              100    No MI               100052644113724363                 5.5           20080301            14.65           8.65
    71270           61500       20060401         526.13        61441.76              100    No MI               100052644113504369                   6           20080301             15.7            9.7
    37721           85500       20060301         782.11        85397.16               95    No MI               100052644111994364                   0                                   0              0
    75088           90725       20060301         792.83        90602.29               95    No MI               100052644111714366                 5.5           20080201            15.95           9.95
    39046           50130       20060401         443.64        50086.39               90    No MI               100052644111404364                   6           20080301             16.1           10.1
    70392           78375       20060101         667.62        78182.41      96.40000153    No MI               100052644102384369                 5.8           20071201            15.65           9.65
    75219          500000       20060101        3410.89       498026.01      70.41999817    No MI               100052644101414365                5.15           20071201            13.25           7.25
    75209           58410       20051201          451.2        58196.05               90    No MI               100052643996484368                6.25           20081101            14.55           8.55
    78208          127500       20051001        1012.17       126910.07               85    No MI               100052643991734361                6.25           20070901            14.85           8.85
    38829           75000       20050901         576.69        74579.26              100    No MI               100052643989774361                 5.8           20070801             14.5            8.5
    37923          182750       20050901        1165.03          182750               85    No MI               100052643988424364                   6           20070801            13.65           7.65
    39503          107995       20050901         784.92       107311.63               90    No MI               100052643987824366                6.25           20070801             13.9            7.9
    74128           55000       20050801         482.26        54746.81              100    No MI               100052643984044364                 5.5           20070701            15.99           9.99
    77338           70800       20060501         529.42        70754.38      77.97000122    No MI               100052643953214766                6.25           20090401             14.2            8.2
    77662           62700       20060401         506.76        62631.95               95    No MI               100052643951944760                6.25           20080301            15.05           9.05
    77373           92720       20060401         769.52        92625.48               95    No MI               100052643951874769                6.25           20080301            15.35           9.35
    77433          132720       20060401         856.42       132488.56               80    No MI               100052643951314766                   6           20080301             12.7            6.7
    29456           74000       20060401         648.86        73934.11              100    No MI               100052643950654766                6.25           20080301            15.99           9.99
    76549           79800       20060401         650.73        79715.17               95    No MI               100052643949784765                6.25           20080301            15.15           9.15
    78559          123105       20060401         989.65       122969.72               95    No MI               100052643949384764                   0                                   0              0
    75979          108500       20060401         873.02       108353.83              100    No MI               100052643949324760                   6           20080301               15              9
    77015           99750       20060401         857.01        99656.54               95    No MI               100052643948924768                6.25           20080301            15.75           9.75
    78521           69900       20060401         561.93        69823.12              100    No MI               100052643948424769                6.25           20080301            14.99           8.99
    78526          107275       20060401         898.12        106948.2               95    No MI               100052643947414761                   0                                   0              0
    78539          203150       20060401        1649.23       202931.82               85    No MI               100052643947014769                6.25           20080301             15.1            9.1
    78550           85495       20060301         684.84        85352.37               95    No MI               100052643946654763                 5.7           20080201            14.95           8.95
    77318           99750       20060301         831.49        99598.48               95    No MI               100052643946294768                6.25           20080201             15.4            9.4
    77063          164350       20060401        1369.97        164184.2               95    No MI               100052643945744763                   0                                   0              0
    77520           93005       20060301         765.13        92859.23               95    No MI               100052643941404768                6.25           20080201            15.25           9.25
    77494          199500       20060201        1590.89       199049.97               95    No MI               100052643939844769                6.25           20080101             14.9            8.9
    72118           71250       20060201         617.39         71118.1               95    No MI               100052643938694769                6.25           20080101            15.85           9.85
    44354          195605       20060301        1630.51       195307.87               95    No MI               100052643937944769                6.25           20080201             15.4            9.4
    77449          123500       20060201        1047.48        123259.2               95    No MI               100052643936604760                6.25           20080101             15.6            9.6
    32446          207100       20060201        1664.89       206190.03               95    No MI               100052643936114760                6.25           20080101            14.99           8.99
    77479          123500       20060201        1002.61       123232.71               95    No MI               100052643935824765                6.25           20080101             15.1            9.1
    70420          114950       20060101         983.38       114674.58               95    No MI               100052643933794762                6.25           20071201             15.7            9.7
    77373           90250       20060101         703.57        89981.06               95    No MI               100052643932764766                6.25           20071201            14.65           8.65
    77067           92568       20051201         728.24        92242.53               95    No MI               100052643928184763                6.25           20071101            14.75           8.75
    78229           71155       20051201         595.72        70938.54               95    No MI               100052643928054768                   0                                   0              0
    77084          110500       20050901         782.71          110500               85    No MI               100052643916114764                6.25           20070801             14.5            8.5
    64742          108000       20060301         959.78       107859.98               80    No MI               100052643562204265                6.25           20080201            16.15          10.15
    75216           90000       20051201            705           90000               90    No MI               100052643557624261                6.25           20071101             15.4            9.4
    75216           90000       20051201            705           90000               90    No MI               100052643557604263                6.25           20071101             15.4            9.4
    33705          132000       20060401         860.55       131774.26               80    No MI               100052637848405621                 5.5           20080301             12.8            6.8
    33025          265500       20060401        2050.89          265131      92.83000183    No MI               100052637848195628                 5.5           20080301            14.55           8.55
    33312          576300       20060401        4720.22       575693.85               85    No MI               100052637847615626                 5.5           20080301             15.2            9.2
    33563          137750       20060401        1158.28       137613.94               95    No MI               100052637846935629                 5.5           20080301             15.5            9.5
    33604          118750       20060201         989.87       118508.54               95    No MI               100052637842535621                 5.5           20080101             15.4            9.4
    34746          128000       20060101        1006.98       127626.36               80    No MI               100052637838995623                   6           20071201            14.75           8.75
    33755          119700       20060101         958.84       119364.32               70    No MI               100052637837975626                6.25           20071201            14.95           8.95
    33067          265000       20050901        1347.08          265000      63.86000061    No MI               100052637824445625                5.65           20070801             12.1            6.1
    33309          121500       20050801         804.67       121459.72               90    No MI               100052637821255621                6.25           20070701            13.95           7.95
    32809           59400       20050801         486.52        58944.39               90    No MI               100052637820195620                   6           20070701             15.2            9.2
    33311          202300       20050701        1407.67          202300               85    No MI               100052637818035622                6.25           20070601            14.35           8.35
    30052          131920       20060501         868.83       131809.71               80    No MI               100052634858612220                 5.5           20080401             12.9            6.9
    28570          120000       20060401         843.17       119823.11               80    No MI               100052634858392229                 5.5           20080301            13.55           7.55
    31750           89000       20060401         761.39        88915.72              100    No MI               100052634857792221                 5.8           20080301             15.7            9.7
    30094          247500       20060401        1794.38          247500               90    No MI               100052634857592225                6.25           20080301             14.7            8.7
    27105           60000       20060401          513.3        59943.17              100    No MI               100052634856672226                   6           20080301             15.7            9.7
    30038          199665       20060401        1556.53        199429.6               85    No MI               100052634856492229                 5.5           20080301            14.65           8.65
    31030          110500       20060401         925.12        110389.7               85    No MI               100052634856442224                6.25           20080301            15.45           9.45
    27106           96120       20060401         808.23        96025.07               90    No MI               100052634855992229                 5.8           20080301             15.5            9.5
    38109          217445       20060301         1594.6          217445               95    No MI               100052634855762226                   6           20080201             14.8            8.8
    30035           96000       20060301         793.25        95851.09              100    No MI               100052634855702222                 5.8           20080201             15.3            9.3
    31217           67200       20060401         569.97           67135              100    No MI               100052634854792224                   0                                   0              0
    31510           66600       20060301         591.86        66513.67               90    No MI               100052634854162220                6.25           20080201            16.15          10.15
    30354          152000       20060301        1267.03       151769.12               95    No MI               100052634854152221                 5.5           20080201             15.4            9.4
    30175          138937       20060301         1183.5       138703.36               95    No MI               100052634853632223                 5.5           20080201            15.65           9.65
    31535           57380       20060201         443.24        57240.89      74.15000153    No MI               100052634852352229                   0                                   0              0
    28073           60800       20060201         482.67         60661.4               95    No MI               100052634851002221                   6           20080101            14.85           8.85
    28081          124878       20060201           1083        124647.5               95    No MI               100052634850722225                 5.5           20080101            15.86           9.86
    30087          263500       20060201        1943.31          263500               85    No MI               100052634850492225                 5.8           20080101            14.85           8.85
    30058          122400       20060201        1024.75       122153.71               85    No MI               100052634850482226                6.25           20080101            15.45           9.45
    30108           81700       20060101         657.38        81473.49               95    No MI               100052634845702225                 5.8           20071201               15              9
    29115          169915       20051001         1024.2       168550.74               85    No MI               100052634839762227                5.75           20070901            12.05           6.05
    30349          131000       20051001        1021.24       130368.66              100    No MI               100052634838672229                   6           20070901            14.65           8.65
    30294          626790       20051001        3107.83          626790               85    No MI               100052634837262220                5.65           20070901            11.95           5.95
    30296          136800       20050901          889.2          136800               90    No MI               100052634836242223                6.25           20080801             13.8            7.8
    30088           96000       20050801            516           96000               80    No MI               100052634835312225                6.05           20070701            12.45           6.45
    30296          142200       20050701         946.81          142200               90    No MI               100052634833612220                6.25           20070601            13.99           7.99
     1752          296000       20060401        2027.28       295540.45               80    No MI               100052630894527729                   6           20080301            13.29           7.29
     2301          225150       20060401        1893.19       224927.62               95    No MI               100052630894227726                   6           20080301             15.5            9.5
     7052          472500       20060301        3798.45       471718.25               90    No MI               100052630892777722                   6           20080201            14.99           8.99
     3801          251750       20060101        1953.61       250803.31               95    No MI               100052630888327722                   6           20071201             14.6            8.6
     7205          295920       20060101        1899.71        294573.4               80    No MI               100052630884917724                   6           20071201            12.65           6.65
     4496          130400       20051101         866.68       129592.09               80    No MI               100052630880727721                   6           20071001            12.99           6.99
    60104          142405       20060401         1239.2       142275.75               95    No MI               100052624189243175                 5.5           20080301             15.9            9.9
    48342           52000       20060501         465.98        51978.19               80    No MI               100052624187833175                   6           20080401            16.25          10.25
    60087          130900       20060401        1057.97       130757.93      94.98000336    No MI               100052624186643179                 5.5           20080301            15.05           9.05
    48235          106000       20060401          914.6       105901.74              100    No MI               100052624186133171                 5.5           20080301             15.8            9.8
    48198          230000       20060401        1865.55       229752.01      79.30999756    No MI               100052624185643170                5.75           20080301            15.09           9.09
    60047          240000       20060401           1780          240000      84.80999756    No MI               100052624184463174                6.25           20080301             14.9            8.9
    60505          107825       20060401         883.15       107711.59               95    No MI               100052624183633173                5.75           20080301             15.2            9.2
    61350           84000       20060401         645.89        83897.86               80    No MI               100052624183613175                5.55           20090301             14.5            8.5
    60134          380000       20060401        2748.68       379472.58               80    No MI               100052624182263170                 5.5           20090301            13.85           7.85
    60409          117000       20060501        1005.22       116945.41               90    No MI               100052624182143174                6.25           20080401            15.75           9.75
    60441          201400       20060301        1804.75       201144.45               95    No MI               100052624180883177                 5.5           20080201            16.25          10.25
    55043          334400       20060301        2809.38       333901.58               95    No MI               100052624180053177                   6           20090201            15.49           9.49
    46327           90000       20060401         756.12        89910.91              100    No MI               100052624179893179                 5.8           20080301            15.49           9.49
    60649          184205       20060301        1455.73       183888.01               95    No MI               100052624179613171                 5.5           20080201             14.8            8.8
    55443          136000       20060301         950.94       135695.28               80    No MI               100052624176933176                 5.5           20080201             13.5            7.5
    60477          299250       20060301        2535.93       298813.23               95    No MI               100052624174893174                 5.5           20080201            15.59           9.59
    60459          232000       20060401        2104.87       231810.78              100    No MI               100052624172743173                 5.5           20080301             16.4           10.4
    48017          182400       20060201        1527.07       182033.02               95    No MI               100052624168433177                 5.5           20080101            15.45           9.45
    58102          161500       20060101        1270.53       161028.54               95    No MI               100052624154893178                 5.5           20071201            14.75           8.75
    53216          105000       20060101         818.55        104621.4      80.15000153    No MI               100052624153623170                 5.5           20071201            14.65           8.65
    60540          151328       20051201        1216.54       150821.55               95    No MI               100052624150363176                5.75           20071101            14.99           8.99
    60181          116000       20051201         952.17          116000               80    No MI               100052624150163170                   4           20071101            15.85           9.85
    60194          168350       20051201        1416.94       168349.78               70    No MI               100052624144023175                   6           20071101             16.1           10.1
    60621          245000       20051101        1222.95       244997.79      76.55999756    No MI               100052624143363176                 3.5           20071001            11.99           5.99
    55416          361250       20051101         1791.2          361250               85    No MI               100052624140363179                5.65           20071001            11.95           5.95
    60142          126300       20051101         657.81          126300               80    No MI               100052624137923175                3.82           20071001            12.25           6.25
    48203           79000       20051101         615.54           79000      75.23999786    No MI               100052624132063175                   0                                   0              0
    48353          256000       20050901        2005.33          256000               80    No MI               100052624118793175                   0                                   0              0
    63857           85000       20050901         775.19        83847.05              100    No MI               100052624115513170                   0                                   0              0
    60624          119000       20050801         921.34       118266.88               85    No MI               100052624111473171                6.25           20080701           14.575          8.575
    60181          223250       20050701        1562.75          223250            84.25    No MI               100052624108313174                5.75           20080601             14.4            8.4
    20748          116800       20060401         749.82       116594.33               80    No MI               100052621873571127                5.75           20080301            12.65           6.65
    20784          116000       20060401         705.67          116000               80    No MI               100052621873491128                6.05           20080301             13.3            7.3
    22602          112000       20060401         737.64       111812.18               80    No MI               100052621873311128                5.75           20080301             12.9            6.9
    24112           58410       20060401         497.55         58354.1               90    No MI               100052621872551120                   6           20080301            15.65           9.65
    22405          240350       20060301        2047.35       240003.61               95    No MI               100052621871481121                 5.5           20080201            15.65           9.65
    17602           51200       20060301         434.26        51125.42      83.93000031    No MI               100052621871421127                6.25           20080201             15.6            9.6
    17327          213750       20060201           1710          213750               95    No MI               100052621868291129                 5.8           20080101             15.6            9.6
    21214          145300       20051101        1065.15       144602.34      84.97000122    No MI               100052621864601123                6.25           20071001            13.99           7.99
    19041          750000       20051001         3687.5          750000      75.08000183    No MI               100052621861561122                5.55           20080901             11.9            5.9
    20724          477900       20050801        2448.79       477812.79               90    No MI               100052621857901126                   5           20080701            12.15           6.15
    90650          324000       20060401         1849.5          324000               80    No MI               100052615934159138                 5.8           20080301            12.85           6.85
    90606          200000       20060401        1280.63       199626.63      49.02000046    No MI               100052615933279135                 5.5           20080301           12.625          6.625
    90706          323000       20060401        1951.46          323000               85    No MI               100052615931799134                 5.8           20090301            13.25           7.25
    92307          333000       20060401        2636.25          333000               90    No MI               100052615930729132                6.05           20080301             15.5            9.5
    91764          304000       20060401        1901.54       303438.09               80    No MI               100052615930209135                 5.5           20080301             12.4            6.4
    94547          547600       20060301         3646.1          547600      84.98999786    No MI               100052615925159139                 5.8           20080201            13.99           7.99
    92683          535415       20060201        3010.21       535147.92               85    No MI               100052615924939135                 5.8           20080101            12.75           6.75
    95824          133500       20060201         1196.3       133262.53            66.75    No MI               100052615921529137                 5.8           20080101            16.25          10.25
    92563          423000       20060201        3045.06       421806.19               90    No MI               100052615918719139                 5.5           20080101             13.8            7.8
    92865          552500       20060101        3338.02          552500               85    No MI               100052615917529133                 5.7           20071201            13.25           7.25
    92691          533600       20060101         3416.7       531219.95               80    No MI               100052615916599137                5.65           20071201           12.625          6.625
    92081          553500       20051101         2997.5       553383.92               90    No MI               100052615909009136                 5.7           20071001             12.5            6.5
    92509          236000       20051101        2015.83       235999.83               80    No MI               100052615905469136                5.75           20071001            16.25          10.25
    92555          200000       20051101        1541.67          200000             62.5    No MI               100052615905179131                 5.5           20071001            15.25           9.25
    95254          533500       20051101        2578.58        533498.3      79.04000092    No MI               100052615902289131                 5.5           20071001             11.8            5.8
    90650          160000       20051001        1011.31       158820.68      35.56000137    No MI               100052615900269135                   0                                   0              0
    92845          571500       20051001        2976.02       571396.51               90    No MI               100052615897899134                5.65           20070901            12.25           6.25
    98568          188000       20051001        1408.43       187999.38               80    No MI               100052615897599130                5.75           20070901            14.99           8.99
    91702          305500       20051001         1527.5          305500      78.52999878    No MI               100052615895299139                5.65           20070901               12              6
    92509          196000       20051001        1020.83          196000               80    No MI               100052615894399138                   6           20070901            12.25           6.25
    91401          603500       20051001        3012.47          603500               85    No MI               100052615893699132                 5.5           20070901            11.99           5.99
    92345          245000       20050901        1847.71        244999.6               70    No MI               100052615890919137                5.75           20070801            15.05           9.05
    92335          212000       20050701        1250.68       209539.42               80    No MI               100052615880199138                 5.5           20070601            11.85           5.85
    23453          166500       20060501         1519.1        166479.4               90    No MI               100274130950163016                 7.3           20080401             16.8            7.3
    29407          318750       20060401        2439.63       318358.43      84.76999664    No MI               100274130940159926                   5           20080301            14.45              5
     7106           50000       20060501         535.57        49987.35              100    No MI               100274130842163059                   0                                   0              0
     7106          200000       20060501        1527.34       199955.99               80    No MI               100274130842163042                 6.9           20080401             14.9            6.9
    11226          137000       20060501        1309.86       136951.68              100    No MI               100274130812162230                   0                                   0              0
    11226          500000       20060501        3880.06       499703.27      78.48999786    No MI               100274130812162222                 6.6           20080401             14.6            6.6
    10701          440000       20060501         3581.4       439920.27               80    No MI               100274130812161547                7.55           20080401            15.55           7.55
    11692          110000       20060501        1135.71       109968.87              100    No MI               100274130811161399                   0                                   0              0
    11692          440000       20060501        3812.63       439799.04               80    No MI               100274130811161365                7.85           20080401            15.85           7.85
    11428          120000       20060501        1183.77       119961.23              100    No MI               100274130810162653                   0                                   0              0
    11428          480000       20060501        3844.93       479735.07               80    No MI               100274130810162653                6.95           20080401            14.95           6.95
    11798          144000       20060401        1242.47       143866.52               90    No MI               100274130810160830                   7           20080301             15.8              7
     2478          400000       20060501         3146.8       399769.87               80    No MI               100274130762158006                6.75           20080401            14.75           6.75
     2131          256500       20060201        2027.05       255909.34               90    No MI               100274130762142927                 7.8           20080101             14.8            7.8
    74467           58900       20060401         499.57        58843.03               95    No MI               100274130422161218                   7           20080301             15.6              7
    73501           94000       20060501         902.29        93967.21              100    No MI               100274130421162555               7.875           20080401             17.1          7.875
    73505           57000       20060501         534.23        56978.77               95    No MI               100274130420157770                 7.5           20080401             16.8            7.5
    77566           78300       20060501         655.53        78261.08               90    No MI               100274130412164321                7.45           20080401            15.45           7.45
    78204           53000       20060501         465.11        52976.56              100    No MI               100274130412163133                   0                                   0              0
    76548          193500       20060401        1515.36       193189.97               90    No MI               100274130412161301                 6.7           20080301             14.7            6.7
    85716          272000       20060501        2346.89       271874.44               80    No MI               100274130211160058                 7.8           20080401             15.8            7.8
    98902           23000       20060401         243.69        22987.89              100    No MI               100174500000148368                   0                                   0              0
    98902           92000       20060401         632.79        91945.58               80    No MI               100174500000148350                6.95           20080301             13.9            7.9
    95831           95000       20060401          984.5        94946.57              100    No MI               100174500000148327                   0                                   0              0
    95831          380000       20060401        2810.42          380000               80    No MI               100174500000148319                6.95           20080301           14.875          8.875
    95621          254400       20060401         1740.3        254247.3               80    No MI               100174500000148111                6.95           20080301            13.85           7.85
    84065           40000       20060401         406.83        39976.22              100    No MI               100174500000147527                   0                                   0              0
    84065          160000       20060401        1000.11       159879.43               80    No MI               100174500000147519                6.95           20080301            13.05           7.05
    92586          286000       20060401        1766.92       285778.36               80    No MI               100174500000147261                 6.7           20080301            12.95           6.95
    95621          346500       20060401        2318.72       346279.74               90    No MI               100174500000147113                6.95           20080301            13.65           7.65
    95301          242400       20060401           1515          242400               80    No MI               100174500000146909                6.95           20080301             13.5            7.5
    94509          310000       20060401        2308.03       309852.57      68.88999939    No MI               100174500000146388                6.95           20080301            14.65           8.65
    91739          307500       20060401        2037.19          307500      62.75999832    No MI               100174500000146321                6.95           20080301            13.95           7.95
    80249          208000       20060401        1532.75       207898.14               80    No MI               100174500000146198                6.95           20080301            14.55           8.55
    93505           51380       20060401         548.36        51353.56      99.95999908    No MI               100174500000145737                   0                                   0              0
    93505          205520       20060401        1247.42       205353.91      79.97000122    No MI               100174500000145729                6.55           20080301             12.8            6.8
    91352           98000       20060401          944.4        97932.05              100    No MI               100174500000145588                   0                                   0              0
    91352          392000       20060401        2610.07          392000               80    No MI               100174500000145588                6.95           20080301            13.99           7.99
    85308          244000       20060401        1798.04        243880.5               80    No MI               100174500000145539                6.95           20080301            14.55           8.55
    85710           39600       20060401         402.76        39576.46              100    No MI               100174500000145497                   0                                   0              0
    85710          158400       20060401        1145.76       158180.16               80    No MI               100174500000145471                6.95           20080301            12.85           7.85
    89031          283500       20060401         2519.1       283422.72      87.23000336    No MI               100174500000145513                6.95           20080301             16.5           10.5
    85219          310000       20060401        1730.83          310000      80.51999664    No MI               100174500000144672                6.69           20080301             12.7            6.7
    94533          234000       20060401        1841.09       233905.46      85.08999634    No MI               100174500000144482                6.95           20080301             15.2            9.2
    92405          199200       20060401        1220.09        199199.1               80    No MI               100174500000144417                6.95           20080301            13.35           7.35
    85301          105600       20060401         726.34       105537.51               80    No MI               100174500000144342                6.95           20080301             13.9            7.9
    85041          276800       20060401        1770.61       276602.85               80    No MI               100174500000144151                6.95           20080301            13.25           7.25
    97007           53200       20060401         567.78        53172.63              100    No MI               100174500000143997                   0                                   0              0
    97007          212800       20060401        1439.85       212668.54               80    No MI               100174500000143963                6.95           20080301            13.75           7.75
    95677           85595       20060401         870.57        85544.11              100    No MI               100174500000143872                   0                                   0              0
    90305          288000       20060401           1788          288000               80    No MI               100174500000143559                6.95           20080301            13.45           7.45
    89044          444000       20060401        2647.02       443558.89               80    No MI               100174500000143385                 6.4           20080301            12.65           6.65
    89123          219120       20060401        1664.95       219021.76               80    No MI               100174500000142791                6.95           20080301            14.85           8.85
    85008          140000       20060401         989.23       139922.94      72.54000092    No MI               100174500000142783                6.95           20080301            14.15           8.15
    80631           75000       20060401         622.17        74974.31      78.94999695    No MI               100174500000142346                6.95           20080301            15.75           9.75
    93535           61000       20060301         632.15        60948.28              100    No MI               100174500000142403                   0                                   0              0
    93535          244000       20060301        1575.83          244000               80    No MI               100174500000142395                6.95           20080201            13.75           7.75
    98942           33980       20060401         335.21        33957.93              100    No MI               10017450000142049                    0                                   0              0
    92251           61200       20060401         634.23        61165.57               95    No MI               100174500000142148                   0                                   0              0
    92251          326400       20060401        2004.69       326143.48               80    No MI               100174500000142130                6.75           20080301             12.9            6.9
    95677          342382       20060401        2329.39       342173.51               80    No MI               100174500000141439                6.95           20080301             13.8            7.8
    93245          204000       20060401        1327.41       203860.75               80    No MI               100174500000141165                6.95           20080301             13.4            7.4
    95747           84000       20060401          896.5        83956.78              100    No MI               100174500000141025                   0                                   0              0
    95747          336000       20060401           2212          336000               80    No MI               100174500000140993                 6.9           20080301             13.9            7.9
    92308          247200       20060401         1606.8          247200               80    No MI               100174500000140787                6.95           20080301             13.8            7.8
    91710          320000       20060301        2070.44       319666.64      71.11000061    No MI               100174500000140712                6.95           20080201            13.35           7.35
    95127          300000       20060401        2311.78       299870.96               50    No MI               100174500000140670                6.95           20080301            14.99           8.99
    95678          300000       20060401         2199.2       299595.26               75    No MI               100174500000140605                6.95           20080301            12.99           7.99
    95678          225000       20060401         1649.4       224696.44               75    No MI               100174500000140563                6.95           20080301            12.99           7.99
    90710          125000       20060401        1334.07       120261.19              100    No MI               100174500000140308                   0                                   0              0
    90710          500000       20060401        3608.53       499740.38               80    No MI               100174500000140290                6.95           20080301            14.35           8.35
    95758           88000       20060401         864.75        87942.23              100    No MI               100174500000139524                   0                                   0              0
    95758          352000       20060401        2214.67          352000               80    No MI               100174500000139508                6.95           20080301            13.55           7.55
    93536           63000       20060401         672.37        62967.59              100    No MI               100174500000138740                   0                                   0              0
    93536          252000       20060401           1659          252000               80    No MI               100174500000138740                6.95           20080301             13.9            7.9
    92336          116980       20060401        1212.28       116914.21              100    No MI               100174500000138195                   0                                   0              0
    92336          467920       20060401        3218.44       467643.16               80    No MI               100174500000138161                6.95           20080301             13.9            7.9
    90047          409600       20060301         2786.7       409224.67               80    No MI               100174500000138070                6.95           20080201             13.8            7.8
    95348          363831       20060401        1955.59          363831               80    No MI               100174500000138229                6.45           20080301            12.45           6.45
    91702          280000       20060301        2106.08        279795.4               70    No MI               100174500000137452                6.95           20080201            14.75           8.75
    94546          121000       20060301        1291.38       120906.14              100    No MI               100174500000137239                   0                                   0              0
    94546          484000       20060301         3085.5          484000               80    No MI               100174500000137221                6.95           20080201            13.65           7.65
    84404           22000       20060401         236.51        21988.92              100    No MI               100174500000135225                   0                                   0              0
    84404           88000       20060401         641.78        87955.62               80    No MI               100174500000135209                6.95           20080301            14.45           8.45
    95824          150000       20060401        1261.28       149851.86               60    No MI               100174500000134582                6.95           20080301             14.5            9.5
    91605          107980       20060201        1061.09       107836.85              100    No MI               100174500000124625                   0                                   0              0
    91605          431920       20060201        2890.33       431367.39               80    No MI               100174500000124617                6.95           20080101            13.65           7.65
    95206          122000       20060401         890.94       121834.07      38.72999954    No MI               100174500000116951                   0                                   0              0
    21146          271450       20060501        1766.31       271357.63      55.97000122    No MI               100274130972161428                 5.4           20080401             13.4            5.4
    20784          264300       20060401        2244.29       264215.36            89.75    No MI               100274130972160958                   8           20080301               16              8
    20785          112800       20060401         797.04       112737.91               80    No MI               100274130972160446                6.15           20080301            14.15           6.15
    20774          456800       20060401        3167.62       456535.52               80    No MI               100274130972158234                5.85           20080301           13.975           5.85
    21649          184500       20060301        1537.75       184406.24               90    No MI               100274130972138814                 7.8           20080201             15.8            7.8
    21229          101200       20060401         819.78       101162.63               88    No MI               100274130971157955               6.495           20080301             15.5          6.495
    20636          378400       20060401        2948.37          378400               80    No MI               100274130970158699                7.35           20080301            15.35           7.35
    21206           27600       20060201         263.88        27560.54              100    No MI               100274130970149532                   0                                   0              0
    23451          450000       20060401        3962.97       449873.51               75    No MI               100274130952160622                 8.4           20080301             16.4            8.4
    22712          454900       20060401         3094.9          454623      79.98999786    No MI               100274130952157057                 5.8           20080301             13.8            5.8
    23464          235100       20060401        2033.33       235029.74      94.98999786    No MI               100274130950162257                 8.2           20080301             16.2            8.2
    23518           41000       20060401         415.43        40975.36              100    No MI               100274130950159410                   0                                   0              0
    23518          163900       20060401        1235.61        163838.2      79.98999786    No MI               100274130950159402                7.05           20080301            15.05           7.05
    23701           68250       20060401         566.43        68180.43               75    No MI               100274130950159139                   0                                   0              0
    29485          170000       20060401        1488.73       169848.17               85    No MI               100274130942158538                 7.9           20080301           15.975            7.9
    29577          126000       20060401        1054.88       125874.25               90    No MI               100274130942154545                7.45           20080301            15.45           7.45
    29455          414000       20060401        3602.59       413624.28               90    No MI               100274130940159181                 7.9           20080301             15.9            7.9
    29010           50000       20060401         379.15        49937.32      84.98000336    No MI               100274130940159108                6.35           20080301            14.35           6.35
    11722          254400       20060301        2045.13       253979.12               80    No MI               100274130940157979                6.99           20080201            14.99           6.99
    29418          106250       20060401         862.57       106135.89               85    No MI               100274130940155502                 7.1           20080301             15.1            7.1
    29006          110200       20060301         950.84       110046.13               95    No MI               100274130940144738                 7.8           20080201             15.8            7.8
    28215          113250       20060401         882.86       113116.48      89.87999725    No MI               100274130932157904                6.65           20090301            14.65           6.65
    28704           94000       20060101         873.94        93817.92              100    No MI               100274130932146139                   0                                   0              0
    28352          151200       20060301        1232.94       150958.04               90    No MI               100274130930151057                7.15           20080201            15.15           9.15
    30363          207750       20060401        1815.48       207563.45      94.98999786    No MI               100274130922160975                   7           20080301            15.95              7
    30273          106250       20060401         920.66       106152.56               85    No MI               100274130922157211                7.85           20080301            15.85           7.85
    30281           83300       20060401          721.8        83223.59               85    No MI               100274130922157195                7.85           20080301            15.85           7.85
    33185          400000       20060401        3232.89       399565.93      76.91999817    No MI               100274130912159813                7.05           20080301            15.05           7.05
    85032           28500       20060301         308.75           28500               90    No MI               100274130912159482                   0                                   0              0
    33772          112500       20060401         889.49       112411.42               90    No MI               100274130912159474                7.25           20080301            15.25           7.25
    33060          264000       20060401        2143.23       263716.47               80    No MI               100274130912159367                 7.1           20080301             15.1            7.1
    33071          268000       20060401         1976.5          268000               80    No MI               100274130912158138                6.85           20080301            14.85           6.85
    34434          144800       20060401         1022.4       144588.67               80    No MI               100274130912157254                 5.6           20080301             13.6            5.6
    32703          120000       20060401         794.34       119800.74               80    No MI               100274130910159963                4.95           20080301            12.95           4.95
    32825          178400       20060401        1154.27       178275.75               80    No MI               100274130910159781                5.35           20080301            13.35           7.35
    32828          320000       20060401        2692.16       319895.25               80    No MI               100274130910159179                 7.9           20080301             15.9            7.9
    33936          212000       20060401        1978.98       211839.66               80    No MI               100274130910158791                7.75           20080301            16.75           7.75
    32208          131700       20060401        1012.66       131539.86      84.97000122    No MI               100274130910158411                 6.5           20080301             14.5            6.5
     8005          263500       20060401        1724.29       263322.67               85    No MI               100274130842160089                5.45           20080301            13.45           5.45
     7063          245000       20060401        1918.67       244714.13      72.05999756    No MI               100274130842158752                 6.7           20080301             14.7            6.7
     7306          245000       20060401        1962.52       244728.53               50    No MI               100274130842158679                6.95           20080301            14.95           6.95
     7050          243750       20060401        2311.38       243697.31               75    No MI               100274130842158604                7.35           20080301            17.25           7.35
     7106          252000       20060401        1840.31       251657.25               80    No MI               100274130842157119                5.95           20080301            13.95           5.95
     7206          258400       20060301        1977.72       257922.19               80    No MI               100274130842154603                6.45           20080201            14.45           6.45
     7036           65250       20060201         653.64        65168.14      94.34999847    No MI               100274130842148324                   0                                   0              0
     7305          230000       20060401        1784.83       229726.03      71.87999725    No MI               100274130842148142                 6.6           20080301             14.6            6.6
     7728          270000       20060401        2379.43       269762.65               90    No MI               100274130840160644                7.45           20080301            16.05           7.45
     7112          195500       20060401        1380.38       195214.68               85    No MI               100274130840147443                 5.6           20080301             13.6            5.6
    44130           97500       20060401         844.84        97410.58               75    No MI               100274130832159760                7.85           20080301            15.85           7.85
    45806          136000       20060401        1021.72       135825.96               80    No MI               100274130832158101                6.25           20080301            14.25           6.25
    43932           59200       20060401         487.02        59138.39      79.77999878    No MI               100274130832156352                7.25           20080301            15.25           7.25
    43720          100000       20060301         672.03        99757.48      83.33000183    No MI               100274130832154456                 5.1           20080201             13.1            5.1
    43055           15000       20060201         151.99        14981.78              100    No MI               100274130832146221                   0                                   0              0
    43933           60000       20060401         484.93         59934.9               80    No MI               100274130832144721                7.05           20080301            15.05           7.05
    19124          113000       20060401         809.55       112839.97      66.47000122    No MI               100274130820162396                5.75           20080301            13.75           5.75
    19151           72000       20060401         615.95        71931.78               80    No MI               100274130820159285                 7.7           20080301             15.7            7.7
    11207          472000       20060401         3460.2       471765.44               80    No MI               100274130812158741                 6.5           20080301             14.5            6.5
    11798          232000       20060401        1718.53       231693.91               80    No MI               100274130812157693                 6.1           20080301             14.1            6.1
    13501           85500       20060401         872.89        85449.73               75    No MI               100274130812155309                 7.1           20080301             17.9            7.1
    11722          300000       20060401        2328.04       299642.64               80    No MI               110274130810159808                 6.6           20080301             14.6            6.6
    10469          341250       20060401        3045.76        341158.4               75    No MI               100274130810159279                 7.6           20080301            16.55            7.6
    10467          266000       20060401        2049.77        265885.6      57.83000183    No MI               100274130810157893                   0                                   0              0
    11550          352750       20060301        2816.39       352544.77      84.19000244    No MI               100274130810156168                7.35           20080201            15.35           7.35
    11205          240000       20060401        2000.56       239757.94      53.33000183    No MI               100274130810147357                   7           20080301             15.4              7
     1104          124000       20060401         988.82       123861.18               80    No MI               100274130762159053                 6.9           20080301             14.9            6.9
     1104          140150       20060401        1129.85       140097.46      84.98999786    No MI               100274130762156117                7.35           20080301            15.45           7.35
     2122          106000       20060301        1094.41       105909.12              100    No MI               100274130762153353                   0                                   0              0
     2122          424000       20060301        3140.61       423691.98               80    No MI               100274130762153346                 6.6           20080201             14.6            6.6
     1108           38600       20060201         383.73        38550.48      99.48000336    No MI               100274130762145938                   0                                   0              0
     2330          432250       20060401        3474.87       431775.03               95    No MI               100274130760160616                6.99           20080301            14.99           6.99
     6248          144000       20060401        1420.53        143906.5               75    No MI               100274130752160608                9.45           20080301            17.45           9.45
     6704          120800       20060401         849.01       120732.55               80    No MI               100274130752157620                 6.1           20080301             14.1            6.1
     6608          184000       20060301        1421.33       183666.64               80    No MI               100274130752152597                6.55           20080201            14.55           6.55
     2905           59000       20060401         582.02         58961.7              100    No MI               100274130722162031                   0                                   0              0
     2905          236000       20060401        1848.19       235724.63               80    No MI               100274130722162015                 6.7           20080301             14.7            6.7
     2888          124000       20060401         884.07       122817.22               80    No MI               100274130722160167                 5.7           20080301             13.7            5.7
     2908          346500       20060401        2530.43       346028.71      89.06999969    No MI               100274130722159219                5.95           20080301            13.95           5.95
     2888          212000       20060401        1387.28       211857.34               80    No MI               100274130722157874                5.45           20080301            13.45           5.45
     2908          280500       20060401        2185.29       280383.22      82.87000275    No MI               100274130722156827                 7.1           20080301             15.1            7.1
     2908          280000       20060201        2263.02       279387.72               80    No MI               100274130722145119                8.05           20080101            15.05           8.05
    51640           15000       20060401         140.59        14988.77              100    No MI               100274130652162001                   0                                   0              0
    51640           51000       20060401          368.9        50929.22      77.26999664    No MI               100274130652161987                5.85           20080301            13.85           5.85
    54728           45000       20060101         383.32        44822.97               95    No MI               100274130632136521                   0                                   0              0
    48220           19200       20060101         199.71        19162.61               95    No MI               100274130620145872                   0                                   0              0
    55106          224000       20060401        1490.66       223855.56               80    No MI               100274130612158958                 5.6           20080301             13.6            5.6
    55117          204000       20060401           1343          204000               80    No MI               100274130612157489                 5.9           20080301             13.9            5.9
    72764           36500       20060401         329.79        36469.91              100    No MI               100274130582159069                   0                                   0              0
    72764          146000       20060401        1070.32       145927.44               80    No MI               100274130582159044               5.625           20080301             14.5          5.625
    38116           96000       20060401         727.98        95879.62               80    No MI               100274130572161109                6.35           20080301            14.35           6.35
    37086           32400       20060301          258.6        32332.49              100    No MI               100274130572156703                   0                                   0              0
    37086          129600       20060301         941.94       129284.62               80    No MI               100274130572156695                 5.9           20080201             13.9            5.9
    37769           30000       20060301         321.28        29772.32              100    No MI               100274130570154882                   0                                   0              0
    38343           23400       20060401         187.27        23374.02      96.59999847    No MI               100274130570151086                   0                                   0              0
    38343          112800       20060401         863.34       112661.43               80    No MI               100274130570151060                7.45           20080301            14.45           7.45
    39540          100000       20060401          725.5        99948.82               80    No MI               100274130552161897                 6.4           20080301             14.4            6.4
    39482           96900       20060401         868.32        96818.39               85    No MI               100274130552161087                8.25           20080301            16.25           8.25
    39194           52700       20060401         423.66        52621.04               85    No MI               100274130552157846                6.99           20080301            14.99           6.99
    35404           63700       20060401         528.43        63678.17               70    No MI               100274130542160462                7.75           20080301            15.75           7.75
    36606           94750       20060401         758.97        94645.03      84.98000336    No MI               100274130540155407                   0                                   0              0
    36541           79200       20060301         668.85        78881.04      94.95999908    No MI               100274130540153501                7.55           20080201            15.55           7.55
    64060          132400       20060401        1022.74       132240.65               80    No MI               100274130522161514                6.55           20080301            14.55           6.55
    63033          137750       20060401        1105.15       137697.58               95    No MI               100274130522157546                 7.4           20080301             15.4            7.4
    64030           17100       20060401         176.55        17090.27              100    No MI               100274130520156532                   0                                   0              0
    64030           68400       20060401         528.36        68317.69               80    No MI               100274130520156524                6.55           20080301            14.55           6.55
    74403           72250       20060401         679.88        72196.52               85    No MI               100274130422162240                8.85           20080301            16.85           8.85
    38860           71900       20060501         585.23        71886.97      89.98999786    No MI               100274130422161598                7.55           20080401            15.55           7.55
    73098           69200       20060401          496.8        69163.54               80    No MI               100274130422161135                 6.3           20080301             14.3            6.3
    74501           88650       20060401         751.89        88564.28               90    No MI               100274130422161036                 7.6           20080301             15.6            7.6
    74055           55250       20060401         428.31        55226.65               85    No MI               100274130422160137                7.05           20080301            15.05           7.05
    74501           17500       20060401         179.33        17485.11              100    No MI               100274130422159832                   0                                   0              0
    74501           70000       20060401         548.19        69909.95               80    No MI               100274130422159824                 6.7           20080301             14.7            6.7
    74403           59250       20060301         595.81         59195.1               75    No MI               100274130422155178                7.25           20080201             17.7           7.25
    74432           69700       20060301         609.09        69605.74               85    No MI               100274130422152621                7.95           20080201            15.95           7.95
    74464           87550       20060401         726.61        87460.75               85    No MI               100274130422151151                7.35           20080301            15.35           7.35
    73119           72650       20060401         558.62        72520.99      94.97000122    No MI               100274130421161193                 6.5           20080301             14.5            6.5
    73013          160000       20060401        1154.56       159776.82               80    No MI               100274130421158835               5.825           20080301           13.825          5.825
    73505           96500       20060401         807.91        96403.68      79.41999817    No MI               100274130421157738                   7           20080301            15.45              7
    73132          116000       20060401         916.72       115867.41               80    No MI               100274130421156375                 6.8           20080301             14.8            6.8
    73505           15800       20060301         157.07        15782.99              100    No MI               100274130421153208                   0                                   0              0
    73507           52000       20060401         409.08        51939.96               65    No MI               100274130420159024                6.75           20080301            14.75           6.75
    75069          477600       20060401        3428.79       477348.35               80    No MI               100274130412161947                 6.3           20080301             14.3            6.3
    78640          117950       20060401          789.3       117875.02      79.98999786    No MI               100274130412160113                5.65           20080301            13.65           5.65
    77566           55800       20060401         450.99        55739.45               90    No MI               100274130412157309                7.05           20080301            15.05           7.05
    77379          299250       20060401        2626.13       298984.14               95    No MI               100274130412156871                   8           20080301               16              8
    75115           32900       20060201         308.35        32834.92      99.97000122    No MI               100274130412137400                   0                                   0              0
    93219          132000       20060401         941.11       131810.98               80    No MI               100274130313156715                 5.7           20080301             13.7            5.7
    93305          142500       20060301         996.38       142180.75               75    No MI               100274130313155964                 5.5           20080201             13.5            5.5
    93215          154000       20060301        1124.63       153684.78               80    No MI               100274130313151633                6.95           20080201            13.95           6.95
    95632          212000       20060401        1942.66       211948.11               80    No MI               100274130312162508                8.85           20080301            16.85           8.85
    90037          491200       20060401         3776.9       490602.76               80    No MI               100274130312160049                 6.5           20080301             14.5            6.5
    90201          400000       20060401        3061.49       399508.63               80    No MI               100274130312157458                6.45           20080301            14.45           6.45
    95640          236000       20060401        1614.43       235858.34               80    No MI               100274130312157136                5.75           20080301            13.85           5.75
    90023          336000       20060201        2619.35       334111.45               80    No MI               100274130312150578                7.65           20080101            14.65           7.65
    90501          118000       20060201        1150.57       117840.15              100    No MI               100274130312145974                   0                                   0              0
    92503          432000       20060401        3328.96       431814.19               90    No MI               100274130311162459                6.99           20080301            14.99           6.99
    92583          302000       20060401        2213.86       301592.56      79.94999695    No MI               100274130311159877                5.99           20080301            13.99           5.99
    92555          373500       20060401        2723.91       373311.64               90    No MI               100274130311159455                6.45           20080301            14.45           6.45
    91911          165000       20060401        1317.37       164936.27      37.93000031    No MI               100274130311158028                7.35           20080301            15.35           7.35
    92551          415000       20060401        2854.45       414754.46      86.45999908    No MI               100274130311156568                 5.9           20110301             13.9            5.9
    91768          328000       20060301        2317.62       327728.31               80    No MI               100274130311154894                6.15           20080201            14.15           6.15
    90011          107000       20060301         1096.5       106906.19              100    No MI               100274130311145108                   0                                   0              0
    90011          428000       20060301         3370.5          428000               80    No MI               100274130311145090                7.45           20080201            15.45           7.45
    93555          182750       20060401        1360.11       182511.33               85    No MI               100274130310154374                   0                                   0              0
    88101           16400       20060401         161.28        16370.82              100    No MI               100274130250160654                   0                                   0              0
    88101           65600       20060401         463.19        65504.25               80    No MI               100274130250159656                 5.6           20080301             13.6            5.6
    80108           80700       20060201         756.35        80578.17      99.30999756    No MI               100274130242146720                   0                                   0              0
    84062          151200       20060401         1011.8       151103.89               80    No MI               100274130232160913                5.65           20080301            13.65           5.65
    84119           27900       20060401         277.36        27882.27              100    No MI               100274130232160871                   0                                   0              0
    84119          111200       20060401         785.16        111037.7      79.94000244    No MI               100274130232160848                 5.6           20080301             13.6            5.6
    84604          496000       20060401        3761.21       495378.09               80    No MI               100274130232158016                6.35           20080301            14.35           6.35
    84103          155100       20060401        1101.77       155015.87      79.98999786    No MI               100274130232157232                 6.2           20080301             14.2            6.2
    85746          217550       20060401        1745.38        217467.2               95    No MI               100274130211161502                 7.4           20080301             15.4            7.4
    85747          169600       20060401        1259.48       169518.75      56.34999847    No MI               100274130211160280               6.625           20080301           14.625          6.625
    85032          228000       20060301        1585.31       227802.76               80    No MI               100274130211157914                   6           20080201               14              6
    85745          139400       20060401        1116.63       139245.55               85    No MI               100274130211157617                6.95           20080301            14.95           6.95
    86401          225250       20060401        1702.89       225147.51               85    No MI               100274130211156551                 6.8           20080301             14.8            6.8
    85706          123200       20060301         901.85       122870.17               80    No MI               100274130211155330               5.975           20080201           13.975          5.975
    86401           72850       20060201          677.3        72722.43      99.98999786    No MI               100274130211144888                   0                                   0              0
    99504           40300       20060401         397.55        40273.83              100    No MI               100274130172161814                   0                                   0              0
    99504          161200       20060401        1262.41        161011.9               80    No MI               100274130172161806                 6.7           20080301             14.7            6.7
    99503           82000       20060401         856.11        81910.55              100    No MI               100274130172161020                   0                                   0              0
    99503          328000       20060401        2746.04       327663.94               80    No MI               100274130172161012                7.45           20080301            15.45           7.45
    99508           73100       20060501         707.22        73075.05              100    No MI               100274130172154348                   0                                   0              0
    99508          292400       20060501        2044.07       292317.45               80    No MI               100274130172154348                6.05           20080401            14.05           6.05
    99518           93800       20060401         896.83        93733.52              100    No MI               100274130172154058                   0                                   0              0
    99518          375200       20060401        2524.71       374964.89               80    No MI               100274130172154033                 5.7           20080301             13.7            5.7
    99654           65000       20060401         678.62        64964.24              100    No MI               100274130172152029                   0                                   0              0
    99654          260000       20060401        2176.74        259740.5               80    No MI               100274130172152011                7.45           20080301            15.45           7.45
    99516           74000       20060101         718.73        73872.74              100    No MI               100274130172142426                   0                                   0              0
    99515           83500       20060101         826.89        83319.03              100    No MI               100274130172139950                   0                                   0              0
    99516          544000       20060301        3897.28        542840.7      78.83999634    No MI               100274130172134506                5.75           20090201            13.75           5.75
    59047          107200       20060401         744.06       107037.98               80    No MI               100274130162158879               5.425           20080301           13.425          5.425
    59072           50800       20060301         509.22        50386.92      94.94999695    No MI               100274130162151833                   0                                   0              0
    59834          240000       20060401        2132.82       239793.49               80    No MI               100274130161157500                7.95           20080301            16.15           7.95
    59102          180000       20060401        1191.18       179882.27               80    No MI               100274130161154234                5.55           20080301            13.55           5.55
    83406          135300       20060401         991.84       135117.46      84.55999756    No MI               100274130152162931                5.99           20080301            13.99           5.99
    83350           50000       20060301         427.74        49894.57      86.20999908    No MI               100274130152153765                 8.7           20080201             15.7            8.7
    96706          115900       20060201        1165.47       115756.14              100    No MI               100274130132148521                   0                                   0              0
    98683           72350       20060401         716.48        72303.52      99.98999786    No MI               100274130122154711                   0                                   0              0
    98683          289550       20060401        1937.62       289365.94               80    No MI               100274130122154703                5.65           20080301            13.65           5.65
    99216          161500       20060401        1283.17       161436.67               85    No MI               100274130121161386                 7.3           20080301             15.3            7.3
    98682           54900       20060201         520.75        54819.76              100    No MI               100274130121145280                   0                                   0              0
    97388          500000       20060401        3125.33       499623.24               80    No MI               100274130112159316                5.05           20080301            13.05           5.05
    97233          340000       20060401        2466.69       339826.01               80    No MI               100274130111160471                 6.4           20080301             14.4            6.4
    97535          261250       20060401        1981.08       260922.43               95    No MI               100274130111159432                6.35           20080301            14.35           6.35
    97224          259250       20060401         1566.3          259250               85    No MI               100274130111155315                5.25           20080301            13.25           5.25
    97058          148000       20060401        1012.44       147911.17               80    No MI               100274130111154177                5.85           20080301            13.85           5.85
    97478          108000       20060301        1185.46       107980.41               60    No MI               100274130111152882                11.1           20080201             19.1           11.1
    97002          224150       20060401         1660.3       224041.83      78.65000153    No MI               100274130111149565                 6.6           20080301             14.6            6.6
    97236           45600       20060201         398.49        45517.42              100    No MI               100274130111149391                   0                                   0              0
    32809           81250       20060501         773.15        81220.96               65    No MI               100255500000037209                7.99           20080401            16.99          10.99
    40160           62900       20060501         598.54        62877.52               85    No MI               100330706020112430                 5.5           20080401            16.99          10.99
    19061          405000       20060501        2946.38       404723.25               90    No MI               100076500000916615                   6           20080401            13.91           7.91
    19008          227500       20060501        1794.62       227369.92               65    No MI               100076500000945903                   6           20080401            14.78           8.78
    43123          140310       20060501        1168.08          140310      90.51999664    No MI               100330706020111622                 5.5           20080401            15.99           9.99
    20866          284000       20060301        1834.17          284000               80    No MI               100073800000326473                6.75           20080201            13.75           7.75
    85202          142500       20060501        1287.02       142441.45               75    No MI               100386100002112217                   6           20080401           16.345         10.345
    22554          304065       20060501        2598.49          304065               90    No MI               100386100002112100                 5.5           20080401           16.255         10.255
     8087          221400       20060401        1651.27          221400               90    No MI               100061102972252041                   3           20080301            14.95           8.95
     7067          390000       20060401        3386.56       389644.18      55.47999954    No MI               100061102972202210                8.25           20080301           15.875          9.875
    19050          147250       20060401        1106.24       147061.56               95    No MI               100061102972114282                8.25           20080301            14.25           8.25
    86326           40000       20060501         462.38        39963.62              100    No MI               100040788603000522                   0                                   0              0
    86326          160000       20060501        1388.77       159927.23               80    No MI               100040788603000514                 5.5           20080401            15.87           9.87
    32907          162000       20060501        1326.87       161915.13               60    No MI               100271100000216299                   6           20080401             15.2            9.2
    29853          216000       20060501           1593          216000               90    No MI               100271100000210573                 5.5           20080401            14.85           8.85
    85302          233750       20060501        1799.88          233750               85    No MI               100153220603001782                 5.5           20080401            15.24           9.24
    39204           57600       20060501         502.93        57574.19               90    No MI               100198900000045998                 5.5           20080401            15.94           9.94
    39204           63000       20060501         550.08        62971.77               90    No MI               100198900000046020                 5.5           20080401            15.94           9.94
    92683          295000       20060401        2030.46       294546.53      52.20999908    No MI               100091620020045574                5.75           20080301            13.34           7.34
    85308          185250       20060501        1084.56       185168.88               75    No MI               0.00E+00                           5.5           20080401             12.5            6.5
     8021           31400       20060501         297.37        31388.63              100    No MI               100386100002110799                   0                                   0              0
     8021          125600       20060501         921.18       125515.63               80    No MI               100386100002110708                 5.5           20080401           13.995          7.995
    49022           56250       20060501         540.36        56230.42               90    No MI               100330706020110657                 5.5           20080401            17.11          11.11
    49022           57150       20060501         549.01         57130.1               90    No MI               100330706020110590                 5.5           20080401            17.11            5.5
    20866           71000       20060301         729.23        70938.16              100    No MI               100073800000326499                   0                                   0              0
    33904           48000       20060401         589.58         47923.6              100    No MI               100202930601250063                   0                                   0              0
    33904          192000       20060401           1464          192000               80    No MI               100202930601230115                 5.5           20080301            15.15           9.15
    45764           67000       20060401         554.23        66976.85              100    No MI               100202930602150114                 5.5           20080301            14.72           9.72
    41042           29000       20060501         326.42        28972.04              100    No MI               100202930602110019                   0                                   0              0
    43227           86400       20060501         699.89        86384.11               80    No MI               100202930602130090                 5.5           20080401             14.5            5.5
    41042          116000       20060501         846.32       115921.21               80    No MI               0.00E+00                           5.5           20080401            13.94           7.94
    44320           97750       20060501          597.9           97750      82.83999634    No MI               100202930602100085                 5.5           20080401            13.34           7.34
    43130           18000       20060401         205.14        17966.04              100    No MI               100202930602140073                   0                                   0              0
    43130           72000       20060401         512.83        71896.81               80    No MI               0.00E+00                           5.5           20080301            13.69           7.69
    43022           45400       20060401         511.01        45312.01              100    No MI               100202930602140016                   0                                   0              0
    43022          181600       20060401        1459.89       181400.45               80    No MI               100202930602130116                   0                                   0              0
    23320          296000       20060401        2096.67          296000               80    No MI               100202930602140081                   0                                   0              0
    49058           46000       20060401         488.97        45899.42              100    No MI               100202930602130017                   0                                   0              0
    49058          184000       20060401        1180.67          184000               80    No MI               100202930602130124                 5.5           20080301             13.7            5.5
    98223          328000       20060401        2179.99       327459.65      74.55000305    No MI               100202930602020051                5.75           20080301            12.99           6.99
    22514           34000       20060501         361.82           34000              100    No MI               100386100002110476                   0                                   0              0
    22514          136000       20060501         986.57          136000               80    No MI               100386100002110435                 5.5           20080401           14.705          8.705
    60060          113000       20060401         828.37       112847.54      56.00999832    No MI               0.00E+00                          4.25           20080301            13.99           7.99
     1504          190000       20060401        1703.37       189425.27      51.63000107    No MI               0.00E+00                          6.25           20090301            14.95           8.95
    61523           63450       20060401         556.35        63393.49               75    No MI               0.00E+00                          4.25           20080301            15.99           9.99
    80220          188000       20060401        1412.38        187759.4               80    No MI               0.00E+00                          2.75           20090301            14.25           8.25
    90605          355000       20060401        1803.57          354800      67.18000031    No MI               0.00E+00                          4.75           20080301             12.1            6.1
    55439          262500       20060401        1826.46       262105.24      67.55000305    No MI               0.00E+00                             6           20090301            13.45           7.45
    60639          110000       20060401         884.29       109879.11      37.93000031    No MI               0.00E+00                          4.25           20080301            14.99           8.99
    95843          158000       20060401        1142.87       157780.71      47.88000107    No MI               0.00E+00                          6.75           20080301            13.85           7.85
    60120          180000       20060401        1319.52       179656.47      73.47000122    No MI               0.00E+00                          4.25           20090301            13.99           7.99
     6040          232400       20060401        1160.06          232400      69.58000183    No MI               0.00E+00                          2.75           20090301            11.99           5.99
    95814          585000       20060401        3895.12          585000               90    No MI               0.00E+00                             6           20080301            13.99           7.99
    55919          146000       20060401         934.85       145741.65      89.36000061    No MI               0.00E+00                          2.75           20090301           12.625          6.625
    60048          351592       20060401         2222.3       350954.57               80    No MI               0.00E+00                          2.75           20110301             12.5            6.5
    33065          143000       20060401         819.27          143000      87.19999695    No MI               0.00E+00                          2.75           20090301           12.875          6.875
     2893          292000       20060401        2508.73       291726.41               80    No MI               0.00E+00                          6.75           20080301            15.75           9.75
    90805          441000       20060401        2627.62          441000               90    No MI               0.00E+00                          5.75           20090301            13.15           7.15
    95758          293000       20060501        1550.46          293000      74.20999908    No MI               0.00E+00                           5.5           20090401            12.35           6.35
    60628           70250       20060401         615.97        70187.44      64.87999725    No MI               0.00E+00                          4.25           20080301            15.99           9.99
    20602          285000       20060401        1992.76       284575.64               95    No MI               0.00E+00                           5.5           20080301             13.5            7.5
    33411          342000       20060401         2251.5          342000               95    No MI               0.00E+00                          5.75           20090301             13.9            7.9
     2909          194750       20060401        1294.37       194429.17      83.94000244    No MI               0.00E+00                          5.25           20080301            12.99           6.99
     2915          190000       20060401        1306.25          190000               95    No MI               0.00E+00                          4.75           20080301            14.25           8.25
    61111           72000       20060401         631.32        71935.89      74.11000061    No MI               0.00E+00                          4.25           20080301            15.99           9.99
    60002          136800       20060401         909.22        136541.5               90    No MI               0.00E+00                          4.25           20090301            12.99           6.99
    94603          250000       20060401        1439.14        249464.2      53.74000168    No MI               0.00E+00                          2.75           20090301           11.625          5.625
    20772          438750       20060401         3561.9        438278.8      75.65000153    No MI               0.00E+00                          6.75           20080301             15.1            9.1
     6460          157000       20060401        1212.76       156811.04      71.36000061    No MI               0.00E+00                           6.5           20090301            14.55           8.55
    91754          540000       20060401           3195          540000               90    No MI               0.00E+00                           5.5           20080301             13.1            7.1
    60565          203000       20060401        1141.88          203000      59.43000031    No MI               0.00E+00                          2.75           20110301            12.75           6.75
    20774          310000       20060401        2383.63       309623.05      71.43000031    No MI               0.00E+00                           6.5           20080301             14.5            8.5
    20601          265000       20060401        1764.46       264999.56      86.05000305    No MI               0.00E+00                           5.5           20090301            13.99           7.99
    60430          128500       20060401        1057.14       128366.25      67.62999725    No MI               0.00E+00                          4.25           20080301            15.25           9.25
    20744          276000       20060401        2023.27       275627.62               80    No MI               0.00E+00                          6.25           20090301            13.99           7.99
    20743        168504.3       20060401        1235.25       168276.94               90    No MI               0.00E+00                          2.75           20110301            13.99           7.99
    60586          142000       20060401        1194.01       141859.74      79.77999878    No MI               0.00E+00                          4.25           20080301             15.5            9.5
    60639          220000       20060401        1576.11       219688.44      68.73000336    No MI               0.00E+00                          4.25           20080301            13.75           7.75
    94577          499999       20060401        2550.55          499699      53.83000183    No MI               0.00E+00                          2.75           20090301           12.125          6.125
    55433          197200       20060401        1622.32       196994.74               85    No MI               0.00E+00                          6.75           20080301            15.25           9.25
    93041          191500       20060401         977.45          191500      61.40000153    No MI               0.00E+00                          2.75           20090301           12.125          6.125
    20708          139000       20060401        1117.43       138847.25      79.61000061    No MI               0.00E+00                           6.5           20080301            14.99           8.99
     2864          204000       20060401         1426.4       203696.25               75    No MI               0.00E+00                          6.25           20080301             13.5            7.5
     6082          130900       20060401        1095.91       130769.35               70    No MI               0.00E+00                          6.75           20090301            15.45           9.45
     6280           91300       20060401         811.36        91221.42      49.34999847    No MI               0.00E+00                          6.75           20080301            16.15          10.15
    60643          182000       20060401        1303.87       181742.25      42.72000122    No MI               0.00E+00                          4.25           20090301            13.75           7.75
     2770          355000       20060401        2602.39       354470.72      90.76000214    No MI               0.00E+00                          2.75           20110301            13.99           7.99
     6339          437750       20060401        3601.26       437294.35               85    No MI               0.00E+00                          6.25           20090301            15.25           9.25
    92503          285500       20060401         1880.3       284965.78      75.12999725    No MI               0.00E+00                          6.25           20080301             12.9            6.9
     2817          198252       20060401        1404.28          198252      82.16999817    No MI               0.00E+00                          4.75           20080301             14.5            8.5
    91722          232666       20060401        1666.85        232336.5      50.88999939    No MI               0.00E+00                           6.5           20080301            13.75           7.75
     2645          245000       20060401         1840.6       244686.46      73.01999664    No MI               0.00E+00                             6           20090301            14.25           8.25
    91311          335000       20060401        2226.51        334374.2      72.04000092    No MI               0.00E+00                          6.25           20080301            12.99           6.99
    32713          400000       20060401         3779.1       399707.14      69.56999969    No MI               0.00E+00                          6.25           20080301             16.9           10.9
    90220          318750       20060401        2417.11       318350.33               85    No MI               0.00E+00                           6.5           20090301            14.35           8.35
    55024          167500       20060401        1408.43       167334.55      70.37999725    No MI               0.00E+00                          6.75           20080301             15.5            9.5
    92878          463500       20060401        3240.86        462771.9               90    No MI               0.00E+00                             6           20090301             13.5            7.5
    55376          273600       20060401        2270.69       273321.12               95    No MI               0.00E+00                          5.75           20090301            15.35           9.35
     2818          218700       20060401        1775.47       218465.12               90    No MI               0.00E+00                           6.5           20080301             15.1            9.1
    90044          321000       20060401        1869.83          321000      89.91999817    No MI               0.00E+00                          2.75           20090301            12.99           6.99
    90650          389000       20060401        2640.49       388385.18      77.80000305    No MI               0.00E+00                           6.5           20080301             13.2            7.2
    95363          355238       20060401        2069.26          355238      79.83000183    No MI               0.00E+00                             6           20080301            12.99           6.99
    90001          336500       20060401        2352.86       335998.97      82.06999969    No MI               0.00E+00                          5.25           20080301             13.5            7.5
     1982          405000       20060501        2968.92       404727.69               90    No MI               0.00E+00                             6           20080401            13.99           7.99
    60010          467500       20060401        3397.82       466857.67               85    No MI               0.00E+00                          4.25           20080301             13.9            7.9
    55117          166400       20060401        1393.12       166233.91               80    No MI               0.00E+00                           6.5           20080301            15.45           9.45
    91748          450000       20060401        3476.07       449458.44      89.11000061    No MI               0.00E+00                           6.5           20080301            14.55           8.55
    33175          314500       20060401        2541.86       314158.68               85    No MI               0.00E+00                           6.5           20080301            15.05           9.05
     1702          255000       20060401        1527.21       254490.05      59.86000061    No MI               0.00E+00                          2.75           20090301            11.99           5.99
    91722          218000       20060401        1905.01       216565.89      47.90999985    No MI               0.00E+00                             6           20080301            12.55           6.55
    55127          266000       20060401        2285.35       265750.77               95    No MI               0.00E+00                           5.5           20090301            15.75           9.75
    55443          134925       20060401        1119.79       134787.47               75    No MI               0.00E+00                          6.75           20080301            15.35           9.35
    55069          138000       20060401         988.65       137804.57               60    No MI               0.00E+00                           5.5           20080301            13.75           7.75
     2368          180000       20060401        1064.77       179632.06      51.25999832    No MI               0.00E+00                          2.75           20110301           11.875          5.875
    91342          414000       20060401        2479.48       413172.08      75.26999664    No MI               0.00E+00                             6           20080301            11.99           5.99
    91335          490000       20060401        4102.32       489510.92      80.33000183    No MI               0.00E+00                           5.5           20080301            15.45           9.45
    33407          217500       20060401        1765.73        217266.4               75    No MI               0.00E+00                          6.75           20080301             15.1            9.1
    60050          108360       20060401         770.32       108204.04               90    No MI               0.00E+00                          4.25           20080301            13.67           7.67
    91748          460750       20060401         3034.5       459977.39      92.15000153    No MI               0.00E+00                             5           20080301             12.9            6.9
    60607          295000       20060401        2162.55          294602      89.38999939    No MI               0.00E+00                          4.25           20080301            13.99           7.99
     1077          105000       20060401         937.01        104910.6      61.04999924    No MI               0.00E+00                           6.5           20080301             16.2           10.2
    93552          352800       20060401        2323.54        352208.4               90    No MI               0.00E+00                             6           20090301             12.9            6.9
    60103          271080       20060401        1750.73          271080      89.48999786    No MI               0.00E+00                          2.75           20110301            13.75           7.75
    92307           80000       20060401         391.67           80000      38.29999924    No MI               0.00E+00                          2.75           20090301           11.875          5.875
     6516          176000       20060401        1492.76       175829.78               80    No MI               0.00E+00                          6.75           20080301             15.6            9.6
    90302          445000       20060401        2221.29          445000      89.90000153    No MI               0.00E+00                          2.75           20090301            11.99           5.99
    21209          169300       20060401        1098.08       169007.64      89.62000275    No MI               0.00E+00                          2.75           20090301            12.75           6.75
    20743          192700       20060401         1481.7        191938.5      73.83999634    No MI               0.00E+00                          6.25           20080301             14.5            8.5
    91740          277653       20060401        1359.34          277653      67.02999878    No MI               0.00E+00                          2.75           20090301           11.875          5.875
    55371          182400       20060401           1102          182400               95    No MI               0.00E+00                          5.25           20080301            13.25           7.25
    91104          360000       20060401        2392.67       359406.92      54.18000031    No MI               0.00E+00                          5.25           20080301            12.99           6.99
    95240          342240       20060401        1818.15          342240               80    No MI               0.00E+00                          2.75           20110301           12.375          6.375
    93536          486000       20060401        4211.23       485554.22               90    No MI               0.00E+00                           6.5           20080301            15.85           9.85
    60074          177300       20060401        1245.78       177038.62               90    No MI               0.00E+00                          4.25           20080301            13.55           7.55
    33150          166500       20060401         967.42       166081.52               90    No MI               0.00E+00                          2.75           20090301            12.99           6.99
    33441          212500       20060401        1794.57       212292.31               85    No MI               0.00E+00                          6.25           20090301            15.55           9.55
    33063          292500       20060401        1876.87          292500               90    No MI               0.00E+00                             6           20080301             13.7            7.7
    90745          621000       20060401        4652.32          621000               90    No MI               0.00E+00                             6           20090301            14.99           8.99
     2451          544000       20060401        4279.65       543371.73               85    No MI               0.00E+00                          6.75           20080301            14.75           8.75
    92117          485000       20060401         3097.5       484137.64      87.38999939    No MI               0.00E+00                          5.25           20090301             12.6            6.6
    55024          228000       20060401        1680.94        227696.1      89.83000183    No MI               0.00E+00                             6           20080301            14.05           8.05
    60558          395967       20060401        2928.51          395967      89.98999786    No MI               0.00E+00                          2.75           20110301           14.875          8.875
     1201           90000       20060401         860.49        89936.21      89.11000061    No MI               0.00E+00                             6           20080301            17.05          11.05
     2804          170500       20060401           1311       170292.69      67.37000275    No MI               0.00E+00                          6.25           20080301             14.5            8.5
    60073          166500       20060401        1106.61       166031.18               90    No MI               0.00E+00                          2.75           20090301            12.99           6.99
    55068          226500       20060401        1717.57          226216      88.72000122    No MI               0.00E+00                          6.25           20080301            14.35           8.35
    95307          260511       20060401        1517.48          260511      78.94000244    No MI               0.00E+00                             6           20090301            12.99           6.99
    20740          306000       20060401        2708.01       305733.86               85    No MI               0.00E+00                             6           20090301             16.1           10.1
    33312          220000       20060401        1365.83          220000      68.80999756    No MI               0.00E+00                           5.5           20090301            13.45           7.45
    55316          225000       20060401        1573.23       224664.98      82.16000366    No MI               0.00E+00                          5.75           20090301             13.5            7.5
    21207          147496       20060401        1181.48       147332.56      81.48999786    No MI               0.00E+00                           6.5           20080301            14.95           8.95
    80537           66500       20060401         600.86        66445.17      47.15999985    No MI               0.00E+00                          6.75           20090301            16.35          10.35
    20747          165000       20060401        1280.42       164803.46      69.95999908    No MI               0.00E+00                          6.25           20080301             14.6            8.6
    90221          380000       20060401        1860.42          380000               76    No MI               0.00E+00                          2.75           20090301           11.875          5.875
    60085          112000       20060401        1003.63        111123.5               80    No MI               0.00E+00                          4.25           20080301            16.25          10.25
     6605          132000       20060401        1134.08       131876.32               80    No MI               0.00E+00                          6.75           20090301            15.75           9.75
     6320           79000       20060401         716.74        78902.02      27.23999977    No MI               0.00E+00                           5.5           20090301             16.4           10.4
    60101          115040       20060401         967.32       114926.38      47.93000031    No MI               0.00E+00                          4.25           20080301             15.5            9.5
    92553          238175       20060401        1309.96          238175      62.43000031    No MI               0.00E+00                          5.25           20090301             12.6            6.6
    60609          144000       20060401        1117.46       143828.47               80    No MI               0.00E+00                          4.25           20080301             14.6            8.6
    60041           71000       20060401            610        70933.49      49.49000168    No MI               0.00E+00                          4.25           20080301            15.75           9.75
     2808          204250       20060401        1357.51       203913.52      84.54000092    No MI               0.00E+00                          5.25           20080301            12.99           6.99
    60623          297000       20060401         2325.9       296653.34               90    No MI               0.00E+00                          4.25           20080301             14.7            8.7
    91977          317000       20060401        2106.88       316477.76      69.44000244    No MI               0.00E+00                           5.5           20090301            12.99           6.99
    92404          401000       20060401        2654.41        399297.4      81.34999847    No MI               0.00E+00                          5.25           20090301            12.95           6.95
    90019          212500       20060401        1557.77       210651.75      32.20000076    No MI               0.00E+00                             6           20080301            13.99           7.99
     2891          286000       20060401        1620.67          286000      81.70999908    No MI               0.00E+00                             5           20080301             12.8            6.8
    60630          375000       20060401        2496.87          375000      83.33000183    No MI               0.00E+00                          4.25           20080301            13.99           7.99
    55128          216000       20060401        1547.45        215694.1      87.09999847    No MI               0.00E+00                             6           20090301            13.75           7.75
    33060          180000       20060401        1333.35        179762.5      68.18000031    No MI               0.00E+00                          6.75           20090301             14.1            8.1
    91605          442500       20060401        2724.55       441607.06      83.48999786    No MI               0.00E+00                          6.25           20080301            12.25           6.25
    55318          188750       20060401        1120.71          188750      89.98999786    No MI               0.00E+00                          2.75           20090301           13.125          7.125
    21012          221000       20060401        1590.91       220690.16      58.20000076    No MI               0.00E+00                          6.25           20080301             13.8            7.8
    55060          161900       20060401        1301.52        161722.1      89.98999786    No MI               0.00E+00                           6.5           20080301            14.99           8.99
    91792          475000       20060401        2569.25       474322.92      83.19000244    No MI               0.00E+00                          5.25           20080301             12.5            6.5
    91326          255000       20060401           1783       254620.32      45.54000092    No MI               0.00E+00                           6.5           20080301             13.5            7.5
    55355          213543       20060401        1702.87       213303.39               90    No MI               0.00E+00                          6.25           20090301             14.9            8.9
     6513          184500       20060401        1517.84       184307.96               90    No MI               0.00E+00                          6.25           20080301            15.25           9.25
    92345          220000       20060401        1412.32       219609.35      84.65000153    No MI               0.00E+00                           5.5           20090301            12.65           6.65
    55128           77300       20060401         501.37        77166.51      34.99000168    No MI               0.00E+00                          2.75           20110301            12.75           6.75
    60645          258750       20060401        2044.83       258454.24               75    No MI               0.00E+00                          4.25           20080301             14.8            8.8
    92831          499999       20060401        3880.05       499403.41      79.36000061    No MI               0.00E+00                          6.75           20080301             14.6            8.6
    91945          407500       20060401           2445          407500      87.66999817    No MI               0.00E+00                           5.5           20090301             13.2            7.2
    56345          145800       20060401        1172.09       145639.78               90    No MI               0.00E+00                           6.5           20080301            14.99           8.99
    60435          202000       20060401        1735.49       201810.73      89.77999878    No MI               0.00E+00                          4.25           20080301            15.75           9.75
    55315          693000       20060401        4706.62          693000               90    No MI               0.00E+00                          5.75           20080301            14.15           8.15
     1364          137790       20060401         1275.9       137683.51               90    No MI               0.00E+00                             6           20080301            16.65          10.65
     2904          161000       20060401         1215.2       160796.04      69.09999847    No MI               0.00E+00                          6.75           20090301             14.3            8.3
    90601          375000       20060401        2407.37       374339.69      67.93000031    No MI               0.00E+00                             6           20080301            12.65           6.65
    56560           27810       20060401         213.83        27776.18              100    No MI               0.00E+00                             0                                   0              0
    94514          320000       20060401        2449.19       319606.88      78.81999969    No MI               0.00E+00                          6.75           20080301            14.45           8.45
    33161          323000       20060401        2059.13          323000               95    No MI               0.00E+00                          5.25           20080301            13.65           7.65
    92557          299000       20060401        2142.07       298417.62      72.87000275    No MI               0.00E+00                          5.75           20080301            13.75           7.75
    90501          725000       20060401        4047.92          725000      82.86000061    No MI               0.00E+00                          5.25           20090301             12.7            6.7
    55024          330600       20060401        2201.24          330600               95    No MI               0.00E+00                          5.75           20080301            13.99           7.99
    93591          200000       20060401        1559.14       199764.21               80    No MI               0.00E+00                          6.75           20080301            14.65           8.65
    55056          288000       20060401        2073.23       287596.23      82.29000092    No MI               0.00E+00                          6.25           20080301             13.8            7.8
    55069          185500       20060401        1035.71          185500      77.29000092    No MI               0.00E+00                           5.5           20080301             12.7            6.7
     2124          356000       20060401        2687.03       355472.49      69.80000305    No MI               0.00E+00                          5.75           20080301             14.3            8.3
    55055          181450       20060401         1325.1        181203.2               95    No MI               0.00E+00                          5.75           20080301            13.95           7.95
    21643          147150       20060401         1434.8       147051.24               90    No MI               0.00E+00                             6           20080301             17.3           11.3
    56560          111240       20060401         732.63       111053.47               80    No MI               0.00E+00                          5.25           20080301             12.9            6.9
    21774          218000       20060401        1413.94       217623.54      74.12000275    No MI               0.00E+00                           5.5           20080301            12.75           6.75
     1364          134400       20060401        1169.54       134278.02               80    No MI               0.00E+00                          6.75           20080301             15.9            9.9
    60636          148000       20060401         1122.3       147814.42      64.91000366    No MI               0.00E+00                          4.25           20080301            14.35           8.35
    60628          108000       20060401         946.98       107903.84      74.27999878    No MI               0.00E+00                          4.25           20090301            15.99           9.99
     2861          152000       20060401        1141.93       151794.01      57.36000061    No MI               0.00E+00                           5.5           20080301            14.25           8.25
    90746          361000       20060401        2135.92          361000      65.63999939    No MI               0.00E+00                          5.25           20090301             13.1            7.1
    91352          405000       20060401        2691.76        404332.8      77.54000092    No MI               0.00E+00                          5.75           20080301            12.99           6.99
    55406          228000       20060401        1462.89        227982.9               95    No MI               0.00E+00                             5           20090301             13.7            7.7
    56551          205200       20060401        1649.61       204974.52               90    No MI               0.00E+00                             6           20080301            14.99           8.99
    21244          153750       20060401           1236       153580.19               75    No MI               0.00E+00                          6.75           20080301            14.99           8.99
    92841           75000       20060401         655.41        74932.66      17.04999924    No MI               0.00E+00                           6.5           20090301            15.95           9.95
    55337          166500       20060401        1400.02       166335.55               90    No MI               0.00E+00                           6.5           20090301             15.5            9.5
    21229          133200       20060401        1057.41       133049.31               90    No MI               0.00E+00                          6.25           20080301            14.85           8.85
     2364          264000       20060401        1668.66       263521.39      77.41999817    No MI               0.00E+00                          2.75           20090301             12.5            6.5
    95842          166250       20060401         983.35          166200               95    No MI               0.00E+00                           5.5           20080301             13.1            7.1
    90062          356500       20060401        1708.23          356500             77.5    No MI               0.00E+00                          5.25           20090301            11.75           5.75
    60618          185400       20060401        1625.65       185234.93               90    No MI               0.00E+00                          4.25           20080301            15.99           9.99
    80010          129440       20060401         900.64       129245.33      69.97000122    No MI               0.00E+00                             6           20090301            13.45           7.45
    60192          306000       20060401        1721.25          306000      88.69999695    No MI               0.00E+00                          2.75           20090301            12.75           6.75
     1507          254000       20060401        2257.24       253781.44      64.80000305    No MI               0.00E+00                          6.75           20080301            16.15          10.15
    21113          293250       20060401        2357.45       292927.76               85    No MI               0.00E+00                          6.75           20080301            14.99           8.99
    60133          161820       20060401        1186.25       161601.68               90    No MI               0.00E+00                          4.25           20080301            13.99           7.99
    91106          314000       20060401        2282.17       313568.58      69.77999878    No MI               0.00E+00                          6.75           20080301             13.9            7.9
    93552           80724       20060401         474.25           80724      24.94000053    No MI               0.00E+00                           5.5           20080301            13.05           7.05
    20602          268000       20060401        2214.49        267723.6               80    No MI               0.00E+00                          6.75           20080301             15.3            9.3
    21229          100800       20060401            567          100800               90    No MI               0.00E+00                          2.75           20090301            12.75           6.75
    60074          290880       20060301        2114.13       290278.52               90    No MI               0.00E+00                          4.25           20080201             13.9            7.9
    55433          161500       20060401        1063.21          161500               95    No MI               0.00E+00                           5.5           20080301             13.9            7.9
    94518          215000       20060401        1653.16       214738.57      66.66999817    No MI               0.00E+00                          6.25           20080301             14.5            8.5
    90503          410000       20060401        2084.17          410000      42.02999878    No MI               0.00E+00                          5.25           20090301             12.1            6.1
    55040          214000       20060301         1562.8       213561.93      72.30000305    No MI               0.00E+00                           6.5           20090201            13.95           7.95
    33311          158000       20060301        1164.86       157683.05      55.43999863    No MI               0.00E+00                          6.75           20080201            14.05           8.05
    91977          425000       20060401        3252.83       424477.91               85    No MI               0.00E+00                          6.75           20090301            14.45           8.45
    91331          305000       20060301        2235.86       304380.69      70.93000031    No MI               0.00E+00                           6.5           20080201            13.99           7.99
    60459          204531       20060401        1465.29       204241.35               90    No MI               0.00E+00                          2.75           20090301            13.75           7.75
    90601          453000       20060401        2397.12          453000      76.06999969    No MI               0.00E+00                             5           20080301            12.35           6.35
    60652          182000       20060401        1457.87       181798.33      89.66000366    No MI               0.00E+00                          4.25           20080301            14.95           8.95
    55109          175000       20060401        1452.38       174821.61      81.40000153    No MI               0.00E+00                           6.5           20090301            15.35           9.35
    33073          255000       20060301        1460.94          255000      69.66999817    No MI               0.00E+00                          2.75           20110201           12.875          6.875
    55119          209500       20060401        1365.78       209141.74      80.58000183    No MI               0.00E+00                          5.25           20080301             12.8            6.8
    91744          196000       20060401        1337.07       195693.27      45.09999847    No MI               0.00E+00                           5.5           20080301            13.25           7.25
    56338          184750       20060401        1400.97        184469.5      58.65000153    No MI               0.00E+00                          6.25           20080301            14.35           8.35
    55906          171000       20060301        1195.66       170616.89      88.13999939    No MI               0.00E+00                             6           20080201             13.5            7.5
    60101          234000       20060301        1820.03       233582.55      86.66999817    No MI               0.00E+00                          2.75           20090201           14.625          8.625
    92530          180400       20060401        1074.73       180374.89      55.90000153    No MI               0.00E+00                             6           20090301            13.15           7.15
    55441          291000       20060301         2289.3       290494.05               75    No MI               0.00E+00                          6.75           20080201            14.75           8.75
    91792          142000       20060401         911.59       141749.95      30.48999977    No MI               0.00E+00                          4.75           20080301            12.65           6.65
    55412          168770       20060301         1297.7       168461.08      84.66000366    No MI               0.00E+00                          6.25           20090201             14.5            8.5
    20747          161953       20060301        1291.47          161680      64.77999878    No MI               0.00E+00                          6.75           20080201             14.9            8.9
    90706          260000       20060401        1729.79       259572.51      55.31999969    No MI               0.00E+00                           6.5           20080301               13              7
    95822          260100       20060301        2090.95       259669.66               85    No MI               0.00E+00                           6.5           20080201            14.99           8.99
    55398          320000       20060401        2292.52       319546.84      82.90000153    No MI               0.00E+00                             6           20080301            13.75           7.75
    20744          275000       20060301        2037.06        274453.9      72.37000275    No MI               0.00E+00                           6.5           20080201             14.1            8.1
     2149          328000       20060401        3160.85       327772.56               80    No MI               0.00E+00                          6.75           20080301            17.15          11.15
    60647          495000       20060301        3979.32       494181.04               90    No MI               0.00E+00                          2.75           20090201            14.99           8.99
    60018          136500       20060401        1000.64       135560.84      45.68000031    No MI               0.00E+00                          4.25           20080301            13.99           7.99
    55119          180000       20060401        1592.95       179843.44               90    No MI               0.00E+00                          5.75           20080301             16.1           10.1
    91754          460000       20060301        2922.66       458757.77      79.30999756    No MI               0.00E+00                           5.5           20080201            12.55           6.55
    56662          193000       20060401        1559.87       192790.53      60.72999954    No MI               0.00E+00                          6.75           20080301            15.05           9.05
    33028          240000       20060401           1510          240000      84.20999908    No MI               0.00E+00                           5.5           20090301            13.55           7.55
    33953          175000       20060301        1382.98       174698.86      53.84999847    No MI               0.00E+00                          6.25           20090201             14.8            8.8
     6255          147140       20060301        1173.35       146891.99      84.08000183    No MI               0.00E+00                             6           20080201             14.9            8.9
    60192          256500       20060301        2249.08          256156               90    No MI               0.00E+00                          4.25           20080201            15.99           9.99
     6513          147000       20060401        1053.13       146776.37      79.45999908    No MI               0.00E+00                             6           20090301            13.75           7.75
     1752          287460       20060301        1699.62          287260               90    No MI               0.00E+00                           5.5           20080201             13.1            7.1
    90037          385000       20060401        2045.31       384999.32      69.81999969    No MI               0.00E+00                          2.75           20110301           12.375          6.375
    91748          352000       20060301        2038.67          352000      56.68999863    No MI               0.00E+00                          5.25           20080201            12.95           6.95
    60416          137500       20060301        1096.48       137268.22      88.70999908    No MI               0.00E+00                          4.25           20080201             14.9            8.9
    55420          153000       20060401         749.07          153000      66.77999878    No MI               0.00E+00                          2.75           20090301           11.875          5.875
    21617          258179       20060301         1867.5       257639.75               86    No MI               0.00E+00                          5.25           20080201            13.85           7.85
    92508          313000       20060401         2406.7       312607.67      69.55999756    No MI               0.00E+00                          6.75           20090301             14.5            8.5
     1462          382000       20060301        3018.85       381342.65      72.08000183    No MI               0.00E+00                          6.75           20080201             14.8            8.8
    21236          243200       20060301        2009.56       242820.21               80    No MI               0.00E+00                          6.75           20080201             15.3            9.3
     1752          277259       20060401         2171.3       276935.47      72.95999908    No MI               0.00E+00                          6.75           20080301             14.7            8.7
    55810          185000       20060401        1589.44       184816.03      71.15000153    No MI               0.00E+00                          6.75           20090301            15.75           9.75
    21207          194000       20060301         1242.2       193483.66      79.80000305    No MI               0.00E+00                          2.75           20110201           12.625          6.625
    60504          270750       20060301        1984.78       270200.21               95    No MI               0.00E+00                          4.25           20080201            13.99           7.99
    20743          175700       20060401         1540.6       175543.23      72.44999695    No MI               0.00E+00                          6.75           20090301            15.99           9.99
    33309          215998       20060301        1736.41       215640.64      78.83000183    No MI               0.00E+00                           6.5           20080201            14.99           8.99
    33351          207000       20060301        1702.94       206578.44               90    No MI               0.00E+00                             6           20080201            15.25           9.25
    60640          192000       20060301        1476.31       191648.57      84.18000031    No MI               0.00E+00                          4.25           20080201             14.5            8.5
    55375          297000       20060301        2127.74       296367.05               90    No MI               0.00E+00                          5.75           20080201            13.75           7.75
    55117          156750       20060301        1122.98       156415.94               95    No MI               0.00E+00                          5.75           20080201            13.75           7.75
    20716          203966       20060301        1597.32       203607.68      62.95000076    No MI               0.00E+00                             6           20090201             14.7            8.7
    94509          380000       20060301        2948.84       379318.59               80    No MI               0.00E+00                          6.25           20080201             14.6            8.6
    20772          174300       20060401        1421.31       174114.73            62.25    No MI               0.00E+00                          6.75           20080301            15.15           9.15
    60652          172000       20060301        1522.15       171774.67               80    No MI               0.00E+00                          4.25           20080201             16.1           10.1
    95206          426000       20060401         3200.4       425454.83      89.81999969    No MI               0.00E+00                           5.5           20080301            14.25           8.25
    60634          235000       20060301        1732.54       234528.58      65.27999878    No MI               0.00E+00                          4.25           20080201            14.05           8.05
    60647          312000       20060301        2287.17       311366.46      91.76000214    No MI               0.00E+00                          4.25           20080201            13.99           7.99
    60068          430000       20060301         3291.1       429204.85      69.34999847    No MI               0.00E+00                          4.25           20080201            14.45           8.45
    21229          120000       20060301         948.33       119793.06      84.69000244    No MI               0.00E+00                          5.75           20080201             14.8            8.8
    21224          155500       20060301        1045.01       155122.87      94.23999786    No MI               0.00E+00                          5.25           20080201             13.1            7.1
    21221          184000       20060301        1527.08       183717.58      84.40000153    No MI               0.00E+00                             6           20080201            15.35           9.35
    21144          180000       20060301        1258.59       179596.72      50.81999969    No MI               0.00E+00                          6.25           20080201             13.5            7.5
    61081           71000       20060401         622.55        70936.77      60.27000046    No MI               0.00E+00                          4.25           20080301            15.99           9.99
    55076          160000       20060401        1398.21       159856.32               80    No MI               0.00E+00                           6.5           20080301            15.95           9.95
     1056          174000       20060301        1264.64       173638.16      80.93000031    No MI               0.00E+00                           5.5           20080201             13.9            7.9
    90805          214500       20060301        1672.18       213277.18      68.09999847    No MI               0.00E+00                          6.75           20090201            14.65           8.65
    92113          378000       20060301        2708.04       377194.45      87.91000366    No MI               0.00E+00                             6           20090201            13.75           7.75
    95667          212000       20060301        1439.03       211495.87      44.16999817    No MI               0.00E+00                           5.5           20090201             13.2            7.2
    21206          130000       20060301        1045.07       129784.24      59.63000107    No MI               0.00E+00                          6.75           20080201            14.99           8.99
    92054          211000       20060301        1652.41       210629.12      75.36000061    No MI               0.00E+00                           6.5           20090201             14.7            8.7
    33411          176000       20060301        1322.23       175660.99      69.01999664    No MI               0.00E+00                             6           20080201            14.25           8.25
    95203          150498       20060301        1062.63       150167.48      57.52999878    No MI               0.00E+00                             6           20090201             13.6            7.6
    91766          290500       20060301        1677.74       289682.48               87    No MI               0.00E+00                          5.25           20080201            12.95           6.95
    55301          279000       20060301         2018.1       278417.25               90    No MI               0.00E+00                             6           20080201            13.85           7.85
     1501          111000       20060301         921.22       110829.62      66.47000122    No MI               0.00E+00                             6           20080201            15.35           9.35
    92840          399999       20060301        2658.52       399007.67      64.20999908    No MI               0.00E+00                          6.75           20080201            12.99           6.99
     2889          202000       20060301        1589.13       201637.77      74.80999756    No MI               0.00E+00                           6.5           20080201            14.75           8.75
    90602          332000       20060401        2206.58       331453.05      51.08000183    No MI               0.00E+00                             6           20080301            12.99           6.99
    92313          343400       20060301        3011.04       342939.46      84.79000092    No MI               0.00E+00                          6.25           20090201            15.99           9.99
    55075          189000       20060401        1453.25       188770.19      85.91000366    No MI               0.00E+00                             6           20080301             14.5            8.5
    60073          134300       20060301        1218.47       134134.96               85    No MI               0.00E+00                          4.25           20080201             16.4           10.4
    20744          250000       20060301        2277.51       249696.09      78.12999725    No MI               0.00E+00                          6.75           20080201            16.45          10.45
    55426          174100       20060301        1457.58        173838.3      86.80000305    No MI               0.00E+00                          5.75           20080201            15.45           9.45
    90002          335000       20060401        2117.43       334392.66      84.80999756    No MI               0.00E+00                             6           20080301             12.5            6.5
    60605          549000       20060401         4240.8       548339.29      86.45999908    No MI               0.00E+00                          4.25           20080301            14.55           8.55
    92557          342000       20060301        2497.56       341299.92      80.47000122    No MI               0.00E+00                          6.25           20080201            13.95           7.95
    33023          117000       20060401         670.31       116999.55      75.48000336    No MI               0.00E+00                          2.75           20110301           12.875          6.875
    95204          211273       20060301        1188.41          211273      69.33999634    No MI               0.00E+00                          5.25           20090201            12.75           6.75
    92335          293250       20060301        2203.09       292685.14               85    No MI               0.00E+00                          6.25           20090201            14.25           8.25
    33147          110000       20060301         841.91       109492.03      60.11000061    No MI               0.00E+00                          6.75           20080201            14.45           8.45
    60471           60000       20060301          526.1        59919.54      88.55000305    No MI               0.00E+00                          4.25           20090201            15.99           9.99
    21040          174800       20060401        1270.46       174559.29               95    No MI               0.00E+00                          5.75           20080301             13.9            7.9
    60563          360000       20060301        2492.57       359177.24               80    No MI               0.00E+00                          4.25           20080201             13.4            7.4
    91767          204000       20060301           1156          204000      70.83999634    No MI               0.00E+00                          5.25           20080201             12.8            6.8
    80138          150000       20060301        1013.11       149639.75      42.86000061    No MI               0.00E+00                             5           20090201            13.15           7.15
    90805          430000       20060301        2146.42          430000      78.18000031    No MI               0.00E+00                           5.5           20080201            11.99           5.99
    91001          220000       20060301        1583.72       219535.84      40.74000168    No MI               0.00E+00                          6.75           20080201             13.8            7.8
    92530          441000       20060401        3159.38       440375.47               70    No MI               0.00E+00                           6.5           20090301            13.75           7.75
    55107          113600       20060301         877.51       113394.18               80    No MI               0.00E+00                          6.75           20080201            14.55           8.55
    60015          372712       20060301        2580.58       371860.17               90    No MI               0.00E+00                          4.25           20080201             13.4            7.4
    55311          551000       20060401        3947.43       550217.11               95    No MI               0.00E+00                           5.5           20080301            13.75           7.75
    21215          145000       20060401        1079.16       144810.62      53.70000076    No MI               0.00E+00                          6.75           20080301            14.15           8.15
    20634          275000       20060301        1989.17       274425.59      88.70999908    No MI               0.00E+00                             6           20080201            13.85           7.85
    60626          413214       20060301        3236.01       412488.11               90    No MI               0.00E+00                          4.25           20080201             14.7            8.7
    33445          112000       20060301         900.37       111814.68      74.66999817    No MI               0.00E+00                           6.5           20090201            14.99           8.99
    55448          154500       20060301         1112.2       154174.04      77.09999847    No MI               0.00E+00                          6.25           20080201             13.8            7.8
    94520          346000       20060301        2360.33       345185.37      67.83999634    No MI               0.00E+00                          6.75           20080201            13.25           7.25
    33024          222500       20060301        1270.11          222500      81.80000305    No MI               0.00E+00                          5.25           20090201            12.85           6.85
    21801          130000       20060301         976.65       129746.19      73.61000061    No MI               0.00E+00                          6.25           20080201            14.25           8.25
    94509          419200       20060301        2637.47          419200      89.95999908    No MI               0.00E+00                             6           20080201            13.55           7.55
     6511          139500       20060401        1162.83       139359.29               90    No MI               0.00E+00                          6.25           20090301             15.4            9.4
    20602          195000       20060301        1625.46       194703.81      87.44000244    No MI               0.00E+00                          5.75           20080201             15.4            9.4
    55443          348000       20060401        2338.67       347438.99      85.90000153    No MI               0.00E+00                           5.5           20080301             13.1            7.1
     1020          150000       20060301        1153.37       149725.43      81.73999786    No MI               0.00E+00                             6           20080201             14.5            8.5
    20634           79000       20060301          692.7        78894.05      46.47000122    No MI               0.00E+00                          6.75           20080201            15.99           9.99
    60425          130600       20060301        1027.43        130372.9      81.62999725    No MI               0.00E+00                          4.25           20080201            14.75           8.75
    55448          194000       20060301        1484.82       193565.95      79.51000214    No MI               0.00E+00                          6.25           20090201            14.45           8.45
    92397          252000       20060301        1805.36       251462.97               90    No MI               0.00E+00                             6           20090201            13.75           7.75
     2893          103500       20060301         825.35       103325.44      49.29000092    No MI               0.00E+00                           6.5           20080201             14.9            8.9
    90022          369000       20060301        2229.37          369000               90    No MI               0.00E+00                          2.75           20110201            13.25           7.25
     6384          125000       20060301        1028.34       124804.07      67.56999969    No MI               0.00E+00                          6.75           20090201            15.25           9.25
    20746          132000       20060301        1052.62       131777.49      48.88999939    No MI               0.00E+00                             6           20080201             14.9            8.9
    60126          292000       20060301        1884.21       291234.08      84.63999939    No MI               0.00E+00                          4.25           20080201             12.7            6.7
    91436          490200       20060301        4050.53        489439.7      64.72000122    No MI               0.00E+00                          6.25           20080201             15.3            9.3
    90018          305000       20060301        2291.36        304412.5      53.50999832    No MI               0.00E+00                          6.75           20090201            14.25           8.25
    92503          495000       20060301        3628.68       493994.89      89.19000244    No MI               0.00E+00                           6.5           20090201            13.99           7.99
    21224          160000       20060301        1293.16       159738.56      89.44000244    No MI               0.00E+00                             5           20080201            15.05           9.05
    60651          170000       20060301        1490.62          169772      70.83000183    No MI               0.00E+00                          4.25           20080201            15.99           9.99
     6484          221000       20060401        1794.14       220762.64      53.90000153    No MI               0.00E+00                           6.5           20080301             15.1            9.1
    21093          232000       20060401        1959.25       231773.24      73.88999939    No MI               0.00E+00                          6.75           20080301            15.55           9.55
    80233          118325       20060301         888.94       118097.07      59.15999985    No MI               0.00E+00                           6.5           20080201            14.25           8.25
    80232          209000       20060301        1454.21       208527.07               95    No MI               0.00E+00                          5.75           20090201            13.45           7.45
     2368          367000       20060301        2641.92        366225.7      89.94999695    No MI               0.00E+00                          5.25           20080201             13.8            7.8
    60617          142800       20060301        1252.12       142608.48               85    No MI               0.00E+00                          4.25           20080201            15.99           9.99
    56062          177600       20060301        1538.92       177354.04               80    No MI               0.00E+00                          6.75           20080201            15.85           9.85
    21152          210500       20060301        1515.33       210055.88            50.25    No MI               0.00E+00                          6.25           20080201             13.8            7.8
     2816          213000       20060401        1153.75          213000      76.06999969    No MI               0.00E+00                          2.75           20110301             12.5            6.5
    92397          318000       20060301        2201.77       317273.23      77.55999756    No MI               0.00E+00                             6           20090201             13.4            7.4
    55128          133000       20060301         858.96          133000      44.52000046    No MI               0.00E+00                           5.5           20080201            13.75           7.75
    60440          110000       20060301         900.96       109825.76      70.16999817    No MI               0.00E+00                          4.25           20080201             15.2            9.2
    95824          234422       20060301        1655.19       233906.36      77.38999939    No MI               0.00E+00                             6           20080201             13.6            7.6
    21660          120000       20060301         939.76       119789.19      60.54000092    No MI               0.00E+00                          6.25           20080201             14.7            8.7
    92544          194000       20060301        1422.15       193606.06      69.29000092    No MI               0.00E+00                           6.5           20090201            13.99           7.99
     2895          250000       20060301         1499.4        249899.7      86.20999908    No MI               0.00E+00                          5.75           20080201             13.2            7.2
    91791          475830       20060301        3162.51       474650.72               90    No MI               0.00E+00                          5.75           20080201            12.99           6.99
    95207          337250       20060301        2245.52          337250               95    No MI               0.00E+00                          5.75           20090201            13.99           7.99
    55112          198750       20060301        1507.14       198374.88      84.56999969    No MI               0.00E+00                           6.5           20080201            14.35           8.35
    91744          395500       20060301        2819.76       394648.65      86.95999908    No MI               0.00E+00                             6           20080201             13.7            7.7
    20744          359950       20060301        2603.64       359198.16      79.98999786    No MI               0.00E+00                             6           20080201            13.85           7.85
    90220          345000       20060301           1840          345000      88.02999878    No MI               0.00E+00                             5           20090201             12.4            6.4
    92553          247250       20060401         1866.2        246936.8      66.81999969    No MI               0.00E+00                          6.75           20090301             14.3            8.3
    92557          346500       20060301        2483.25          346500               90    No MI               0.00E+00                           5.5           20090201             14.6            8.6
    91345          444000       20060301        3477.11       443220.04      74.62000275    No MI               0.00E+00                           6.5           20090201             14.7            8.7
     2865          322000       20060301        2012.46       321993.33      94.98999786    No MI               0.00E+00                          5.25           20080201             13.5            7.5
    90241          430000       20060401        2705.42          430000      65.45999908    No MI               0.00E+00                          5.75           20080301            13.55           7.55
    20772          178000       20060301        1324.76       177650.08      49.40000153    No MI               0.00E+00                          6.25           20080201            14.15           8.15
    20720          294000       20060301        1858.28       293198.33      70.66999817    No MI               0.00E+00                          6.25           20080201             12.5            6.5
    20707          154000       20060401        1076.79       153770.69      61.74000168    No MI               0.00E+00                          6.25           20080301             13.5            7.5
     1603          195840       20060301        1430.18       195436.35               90    No MI               0.00E+00                             5           20080201            13.95           7.95
    91762          223565       20060301        1679.57       223134.37      60.34000015    No MI               0.00E+00                           6.5           20090201            14.25           8.25
    60656          185000       20060301        1199.91       184519.46      47.29000092    No MI               0.00E+00                          2.75           20110201            12.75           6.75
    92503          376000       20060301        2785.21       375253.32      84.87999725    No MI               0.00E+00                          6.25           20090201             14.1            8.1
    92886          249999       20060301        1851.86       249502.53      37.88000107    No MI               0.00E+00                           6.5           20080201             14.1            8.1
    21122          236400       20060301        1809.34       235893.38      74.98000336    No MI               0.00E+00                             6           20080201            14.45           8.45
    60445          173536       20060301        1490.94       173291.11               85    No MI               0.00E+00                          4.25           20080201            15.75           9.75
    91763          181000       20060301        1144.04       179934.42      45.84999847    No MI               0.00E+00                          5.25           20090201             12.5            6.5
    56303          110000       20060301         884.29       109817.99      72.08000183    No MI               0.00E+00                           6.5           20080201            14.99           8.99
    92376          279000       20060301           1581          279000      84.08000183    No MI               0.00E+00                          5.25           20080201             12.8            6.8
    33018          307000       20060301        2241.97       306371.58      69.76999664    No MI               0.00E+00                          6.75           20080201            13.95           7.95
    55106          143900       20060301        1116.68       143641.93      89.98999786    No MI               0.00E+00                             6           20080201             14.6            8.6
    20785          220500       20060301        1772.61       220135.19               90    No MI               0.00E+00                             6           20080201            14.99           8.99
     1075          135000       20060301        1204.72       134826.84      65.27999878    No MI               0.00E+00                             6           20080201             16.2           10.2
    33323          337500       20060301        2417.89       336780.74               90    No MI               0.00E+00                             6           20090201            13.75           7.75
    55441          440100       20060301         3700.6       439445.42               90    No MI               0.00E+00                             6           20080201             15.5            9.5
    20735          395250       20060301        3177.43       394376.47               85    No MI               0.00E+00                          6.75           20080201            14.99           8.99
    55376          217000       20060301        1283.92          217000      62.45999908    No MI               0.00E+00                          5.75           20090201             13.1            7.1
    21236          189000       20060301        1258.41       188998.18               90    No MI               0.00E+00                          2.75           20090201            13.99           7.99
     2421          577000       20060301        3995.03       575666.31      63.40999985    No MI               0.00E+00                           5.5           20080201             13.4            7.4
    91913          700000       20060301         3937.5          700000      71.43000031    No MI               0.00E+00                          2.75           20090201            12.75           6.75
    92114          337500       20060301        2417.89       336780.74               75    No MI               0.00E+00                          6.75           20090201            13.75           7.75
    91723          221000       20060301        1629.33       220556.68      63.13999939    No MI               0.00E+00                          6.25           20080201            14.05           8.05
    94536          418000       20060301        2020.34          418000      68.73999786    No MI               0.00E+00                             5           20090201             11.8            5.8
    91942          364500       20060401        1928.81          364500               90    No MI               0.00E+00                          4.75           20090301            12.35           6.35
    21224          111500       20060301         896.35        111315.5      64.83000183    No MI               0.00E+00                           6.5           20080201            14.99           8.99
    95605          236800       20060301         1361.6        236799.8               80    No MI               0.00E+00                          5.25           20080201             12.9            6.9
    20747          227200       20060301         1604.2       226701.02      83.04000092    No MI               0.00E+00                          6.25           20090201             13.6            7.6
    94806          324000       20060301        2491.28       323406.98               80    No MI               0.00E+00                          6.75           20080201             14.5            8.5
     2859          167000       20060301        1355.57       166100.59      66.80000305    No MI               0.00E+00                          6.75           20080201             13.6            7.6
     2771           61000       20060301         578.61        60933.41      16.19000053    No MI               0.00E+00                             6           20080201            16.95          10.95
    55429          209500       20060301        1610.87       209116.53      89.15000153    No MI               0.00E+00                           6.5           20080201             14.5            8.5
    20774          640000       20060401         6533.9       639623.68               80    No MI               0.00E+00                           6.5           20080301             17.9           11.9
    80128          280000       20060301        1376.67          280000      83.58000183    No MI               0.00E+00                          5.25           20090201             11.9            5.9
    80020           42400       20060301         371.78        42343.13              100    No MI               0.00E+00                             0                                   0              0
    21225           98000       20060301         849.18        97864.61               70    No MI               0.00E+00                           6.5           20080201            15.85           9.85
    80020          169600       20060301         971.67          169600               80    No MI               0.00E+00                          2.75           20090201           12.875          6.875
    33467          158400       20060301        1151.26       158072.48               90    No MI               0.00E+00                          5.75           20090201             13.9            7.9
    55337          226100       20060301        1337.64       226080.17               85    No MI               0.00E+00                          5.25           20090201             13.1            7.1
     2831          374000       20060301        2025.83          374000      84.04000092    No MI               0.00E+00                          5.25           20080201             12.5            6.5
    55337          186600       20060301           1415        186247.8      84.97000122    No MI               0.00E+00                          6.25           20090201            14.35           8.35
     1109          151110       20060301        1314.95       150902.68               90    No MI               0.00E+00                             6           20080201             15.9            9.9
    20705          349000       20060401        1999.47       348999.18            88.25    No MI               0.00E+00                          2.75           20090301           12.875          6.875
    95843          369750       20060301        2777.81       369037.79               85    No MI               0.00E+00                          6.75           20080201            14.25           8.25
    91764          332000       20060301        2310.04       331248.74      80.98000336    No MI               0.00E+00                           6.5           20080201            13.45           7.45
    95351          270000       20060301        1787.26       269325.58      88.95999908    No MI               0.00E+00                          5.75           20080201            12.95           6.95
    55904          132300       20060301        1126.96       132109.33               90    No MI               0.00E+00                             6           20080201            15.65           9.65
    60020          131250       20060301         1185.9       131086.97               75    No MI               0.00E+00                          4.25           20080201            16.35          10.35
    55304          277255       20060301        1948.11       276639.08      94.94999695    No MI               0.00E+00                          5.75           20090201            13.55           7.55
    60015          272000       20060301        2477.93       271669.36               85    No MI               0.00E+00                          4.25           20080201            16.45          10.45
    92107          110000       20060301         741.09       109734.51      15.61999989    No MI               0.00E+00                          2.75           20090201           13.125          7.125
    92831          415000       20060301        2333.63       414868.39            89.25    No MI               0.00E+00                             5           20090201            12.75           6.75
    55118          130000       20060301         752.92          130000      64.08999634    No MI               0.00E+00                          5.25           20090201            12.95           6.95
    60195          140000       20060301        1076.48       139743.76      87.94000244    No MI               0.00E+00                          4.25           20080201             14.5            8.5
    92154          484500       20060301        2624.37       484499.33               95    No MI               0.00E+00                           5.5           20090201             12.5            6.5
    92020          266000       20060301        1767.92       265340.77      62.93999863    No MI               0.00E+00                             6           20080201            12.99           6.99
    60430          208000       20060301        1577.28       207607.41      89.66000366    No MI               0.00E+00                          4.25           20080201            14.35           8.35
    91744          342000       20060301        2507.09       341305.55               95    No MI               0.00E+00                             6           20080201            13.99           7.99
    60445          105500       20060301         867.92       105334.63      77.01000214    No MI               0.00E+00                          4.25           20080201            15.25           9.25
    21222          121549       20060301         969.28       121344.12      89.76999664    No MI               0.00E+00                             6           20080201             14.9            8.9
    91915          540000       20060301        3502.43       538597.34               90    No MI               0.00E+00                          2.75           20090201            12.75           6.75
    90016          150000       20060301         1126.9       149711.07      42.63999939    No MI               0.00E+00                           6.5           20090201            14.25           8.25
    95330          155105       20060301        1332.59       154886.12      41.91999817    No MI               0.00E+00                           6.5           20080201            15.75           9.75
    90712          522000       20060301        3197.25          522000               90    No MI               0.00E+00                          4.75           20080201            13.35           7.35
    55079          308500       20060301         2372.1       307935.34      86.90000153    No MI               0.00E+00                          6.25           20080201             14.5            8.5
    55044          254700       20060301        1922.44       254214.36               90    No MI               0.00E+00                          4.75           20080201             14.3            8.3
    33165          315000       20060301        2822.72       314600.33      74.12000275    No MI               0.00E+00                           6.5           20080201            16.25          10.25
    21236          292000       20060301        1893.91       291241.52      87.87999725    No MI               0.00E+00                          2.75           20110201            12.75           6.75
    55411          130350       20060301        1030.12       130125.68               75    No MI               0.00E+00                           6.5           20090201             14.8            8.8
    90019          625000       20060301        3710.94          625000      79.11000061    No MI               0.00E+00                          2.75           20090201           13.125          7.125
    90660          276000       20060301           1495          276000      78.86000061    No MI               0.00E+00                           5.5           20080201             12.5            6.5
    91746          175000       20060301        1327.04       174669.72      40.70000076    No MI               0.00E+00                          6.75           20080201            14.35           8.35
    91010          232100       20060301        1429.08       231435.87      54.45000076    No MI               0.00E+00                          2.75           20090201            12.25           6.25
    55803          143920       20060301        1036.04       143515.38      77.37999725    No MI               0.00E+00                          6.25           20080201             13.8            7.8
     2861          168000       20060301        1129.01       167592.54      63.47999954    No MI               0.00E+00                          5.75           20080201             13.1            7.1
     1085          167500       20060301        1341.72       167220.55            83.75    No MI               0.00E+00                           6.5           20080201            14.95           8.95
    55110          225000       20060301        1762.05       224604.55               90    No MI               0.00E+00                             6           20080201             14.7            8.7
    94565          441900       20060301        3366.56       441074.44      89.26999664    No MI               0.00E+00                           6.5           20080201             14.4            8.4
    20744          547000       20060201        3367.97       544907.64      86.83000183    No MI               0.00E+00                             0                                   0              0
    55066          324500       20060301        2213.66       322539.45      90.13999939    No MI               0.00E+00                             5           20090201            13.25           7.25
    92551          273030       20060301         1927.8       272430.39      89.51999664    No MI               0.00E+00                           5.5           20090201             13.6            7.6
    56283          113050       20060401         983.75       112931.01               85    No MI               0.00E+00                          6.75           20080301             15.9            9.9
    21222          145000       20060301         950.13       144630.64      84.01000214    No MI               0.00E+00                             5           20090201            12.85           6.85
    21046          188500       20060301        1098.01          188500      78.54000092    No MI               0.00E+00                          2.75           20090201            12.99           6.99
    94509          494000       20060301         3087.5          494000               95    No MI               0.00E+00                          5.75           20080201             13.5            7.5
    94547          292500       20060301        2259.44       291970.07      83.56999969    No MI               0.00E+00                          6.75           20080201            14.55           8.55
    92027          555000       20060301        3468.75          555000      79.29000092    No MI               0.00E+00                             5           20080201             13.5            7.5
    55436          720000       20060301         5612.9       718722.13               90    No MI               0.00E+00                           6.5           20080201            14.65           8.65
    21102          176538       20060301        1338.75          176538      69.77999878    No MI               0.00E+00                             5           20080201             15.1            9.1
    95240          603000       20060201        3743.62          603000               90    No MI               0.00E+00                             0                                   0              0
    60634          260000       20060301        1999.18       259515.17      85.69999695    No MI               0.00E+00                          4.25           20080201             14.5            8.5
    91733          417800       20060301        2263.08          417800      89.84999847    No MI               0.00E+00                          4.75           20080201             12.5            6.5
    55009           80000       20060401         586.45        79892.06      53.36999893    No MI               0.00E+00                             6           20080301            13.99           7.99
    55118          206000       20060301         1426.3       205529.17      82.40000153    No MI               0.00E+00                           5.5           20080201             13.4            7.4
    33411          540000       20060301        4699.03       539261.83               80    No MI               0.00E+00                             6           20080201             15.9            9.9
    33066          180000       20060301        1493.88       179723.72               80    No MI               0.00E+00                          6.75           20090201            15.35           9.35
    20774          250682       20060201        1666.11       249833.04               90    No MI               0.00E+00                             0                                   0              0
    60641          358000       20060201        2133.08          358000      90.62999725    No MI               0.00E+00                          4.25           20080101            13.15           7.15
     1119          120360       20060301         817.45          120360      85.97000122    No MI               0.00E+00                          4.75           20080201            14.15           8.15
    92114          463500       20060301        3320.57       462512.22               90    No MI               0.00E+00                           6.5           20080201            13.75           7.75
    21702          131551       20060201         853.24       131033.99      87.69999695    No MI               0.00E+00                          2.75           20090101            12.75           6.75
    21207          137461       20060201        1216.41       135673.23      82.06999969    No MI               0.00E+00                             0                                   0              0
    92544          323000       20060301        1881.48          323000               95    No MI               0.00E+00                           5.5           20090201            12.99           6.99
    93535          249999       20060301        1663.25       249380.64      83.19000244    No MI               0.00E+00                             6           20080201               13              7
    60612          147000       20060301        1166.96       146749.63      45.22999954    No MI               0.00E+00                          4.25           20080201            14.85           8.85
     6108          131200       20060301         1074.6       130966.43               80    No MI               0.00E+00                          6.25           20080201             15.2            9.2
    21244          166500       20060301        1315.81       166212.83               90    No MI               0.00E+00                           6.5           20080201             14.8            8.8
    33313           71400       20060301         661.14        70898.16               85    No MI               0.00E+00                          6.25           20080201            16.65          10.65
    55411          179100       20060401        1840.87       178996.76               90    No MI               0.00E+00                           6.5           20080301            17.99          11.99
    33026          223250       20060301        1246.48          223250               95    No MI               0.00E+00                           5.5           20080201             12.7            6.7
     6517          182750       20060301        1418.16       182422.28      63.24000168    No MI               0.00E+00                             6           20080201             14.6            8.6
     2889          234000       20060301         1676.4       233500.75      89.97000122    No MI               0.00E+00                             6           20080201            13.75           7.75
    60046          108000       20060401         927.89       107898.81      66.66999817    No MI               0.00E+00                          4.25           20080301            15.75           9.75
    20785          343900       20060201        2117.45       342584.52               95    No MI               0.00E+00                             0                                   0              0
     2885          231000       20060401        2041.37       230283.39      83.95999908    No MI               0.00E+00                           6.5           20080301            14.75           8.75
     2842          212000       20060301           1113          212000      59.88999939    No MI               0.00E+00                          4.75           20080201             12.3            6.3
    21061          296000       20060301        2234.16        295435.6               80    No MI               0.00E+00                           6.5           20080201             14.3            8.3
     1841          270300       20060201        2233.49       269738.83               85    No MI               0.00E+00                             6           20080101             15.3            9.3
    91790          423000       20060301        2463.97       422999.95               90    No MI               0.00E+00                          5.25           20090201            12.99           6.99
    90620          417000       20060301        3221.16       416244.54      74.45999908    No MI               0.00E+00                          6.75           20090201            14.55           8.55
     6515          208000       20060301        1823.81       207721.03               80    No MI               0.00E+00                             6           20080201            15.99           9.99
    95605          278820       20060201        2183.53       277973.13               90    No MI               0.00E+00                             0                                   0              0
    56368          310250       20060301        2494.11       309494.06               85    No MI               0.00E+00                           6.5           20080201            14.99           8.99
    55423           19000       20060201         146.09        18477.57      88.86000061    No MI               0.00E+00                             0                                   0              0
    95841          318410       20060201        2069.67          318410               90    No MI               0.00E+00                             0                                   0              0
    91803          472500       20060301        3271.49       471420.11               90    No MI               0.00E+00                             6           20080201             13.4            7.4
    21801          230350       20060301        1878.36       229980.99               85    No MI               0.00E+00                          6.75           20080201            15.15           9.15
    80015          180000       20060201        1777.81       177997.45      81.81999969    No MI               0.00E+00                             0                                   0              0
     2125          217000       20060201        2132.39       216711.84      50.93999863    No MI               0.00E+00                           6.5           20080101             17.4           11.4
    33462          180000       20060201        1345.96       179531.39      57.56000137    No MI               0.00E+00                             6           20090101             14.2            8.2
    21804           70000       20060301         593.71        69898.03               50    No MI               0.00E+00                             6           20080201             15.6            9.6
    55060          147600       20060301        1268.11       147391.71               90    No MI               0.00E+00                          6.25           20080201            15.75           9.75
    60651           78100       20060301         684.81        77995.24      64.55000305    No MI               0.00E+00                          4.25           20080201            15.99           9.99
    21649          434000       20060201        2743.18       432114.56      89.66999817    No MI               0.00E+00                             0                                   0              0
    93550           70000       20060301         568.28        69790.92      27.45000076    No MI               0.00E+00                             6           20080201             15.1            9.1
    20772          378200       20060201        2513.63       376946.62               90    No MI               0.00E+00                             0                                   0              0
    20747          255000       20060201         1657.5          255000      92.73000336    No MI               0.00E+00                             0                                   0              0
    91501          495500       20060301        3845.14       494611.49      59.34999847    No MI               0.00E+00                          5.25           20080201             14.6            8.6
    55304          237750       20060201        1436.03       237687.07      89.11000061    No MI               0.00E+00                             0                                   0              0
     6360          172000       20060201        1382.71       171619.13      71.66999817    No MI               0.00E+00                             6           20080101            14.99           8.99
    33024          129900       20060301         784.54       129854.17      55.27999878    No MI               0.00E+00                          2.75           20110201            13.25           7.25
    61032           72000       20060201         527.81        71804.42      84.70999908    No MI               0.00E+00                             0                                   0              0
    33411          205000       20060301        1738.73       204701.43      59.47000122    No MI               0.00E+00                          6.25           20080201             15.6            9.6
    61032          103500       20060201         758.72       103218.84      94.08999634    No MI               0.00E+00                             0                                   0              0
    55082          247860       20060201        1647.35       247038.56               90    No MI               0.00E+00                             0                                   0              0
    33068          189000       20060301        1693.63       188760.18               90    No MI               0.00E+00                           6.5           20080201            16.25          10.25
    60107          279000       20060201        1704.26       277917.36               90    No MI               0.00E+00                             0                                   0              0
    55418          311400       20060201         1920.3          311400               90    No MI               0.00E+00                             0                                   0              0
    95219          497250       20060201        2896.48          497250               85    No MI               0.00E+00                             0                                   0              0
    61032           81000       20060201         559.45        80751.16               90    No MI               0.00E+00                             0                                   0              0
    55731          270000       20060201        2028.42       269231.13               90    No MI               0.00E+00                             0                                   0              0
    21213           63000       20060201            581        62900.65               90    No MI               0.00E+00                             0                                   0              0
    55364          200000       20060201         1187.5          200000      81.63999939    No MI               0.00E+00                             0                                   0              0
    90305          315000       20060201        2500.64       314282.06               90    No MI               0.00E+00                             6           20080101            14.85           8.85
    33018           40000       20060201         350.73        39777.64              100    No MI               0.00E+00                             0                                   0              0
    80615          425750       20060201        2394.84          425750      88.69999695    No MI               0.00E+00                             5           20090101            12.75           6.75
    92802          392000       20060201        2123.33          392000      85.23999786    No MI               0.00E+00                             0                                   0              0
    32065           60431       20060301         529.88        60349.96             99.5    No MI               0.00E+00                             0                                   0              0
    60085          138780       20060201        1212.77       138528.68               90    No MI               0.00E+00                             0                                   0              0
    60047          233400       20060301        2031.03       233080.94      71.81999969    No MI               0.00E+00                          4.25           20080201             15.9            9.9
    55107          186300       20060201        1109.91       184984.28      84.68000031    No MI               0.00E+00                             0                                   0              0
     2368          226000       20060301        1656.73       225368.51      54.45999908    No MI               0.00E+00                           5.5           20090201            13.99           7.99
    60523          990000       20060201         8651.4       988207.22               90    No MI               0.00E+00                          4.25           20080101            15.95           9.95
     1540          310650       20060301        2388.63       310081.41               95    No MI               0.00E+00                          5.25           20080201             14.5            8.5
    90805          115000       20060201         937.75       114753.66            28.75    No MI               0.00E+00                          6.75           20090101            15.15           9.15
    33313          200000       20060201        1594.88       199548.82      67.80000305    No MI               0.00E+00                           6.5           20080101             14.9            8.9
    21740          171270       20060101        1232.92       170646.97      87.47000122    No MI               0.00E+00                             0                                   0              0
    80601          213000       20060101        1435.02       212138.09      82.33000183    No MI               0.00E+00                             0                                   0              0
    56011          162500       20060101        1269.63       160940.75            89.75    No MI               0.00E+00                             0                                   0              0
    21655          148200       20060201        1041.31       147043.65               95    No MI               0.00E+00                             0                                   0              0
     1950          486000       20060101        3315.38       484081.31      90.83999634    No MI               0.00E+00                             0                                   0              0
    60099          126000       20060101        1012.92       125649.94               90    No MI               0.00E+00                             0                                   0              0
    34711           50000       20060101         438.42        49887.29              100    No MI               0.00E+00                             0                                   0              0
    60805          167940       20060101        1188.67       167324.48               90    No MI               0.00E+00                             0                                   0              0
    55311          214300       20060101        1219.97       213717.56      89.97000122    No MI               0.00E+00                             0                                   0              0
    60085          297900       20060101        2183.81       296868.49               90    No MI               0.00E+00                             0                                   0              0
    90303          620000       20060101        4420.35       617761.32      81.05000305    No MI               0.00E+00                             6           20071201             13.7            7.7
     1108          135000       20060301         1234.9       134837.64               90    No MI               0.00E+00                             6           20080201             16.5           10.5
    33311          245000       20060201        1780.67       244322.29               70    No MI               0.00E+00                          6.75           20080101             13.9            7.9
    20639          627300       20060201        3903.28       624946.09               85    No MI               0.00E+00                             0                                   0              0
    20743          107000       20060101         841.77       106687.67      71.33000183    No MI               0.00E+00                          6.75           20071201            14.75           8.75
    60411          126000       20060101        1104.81       125716.01      81.29000092    No MI               0.00E+00                             0                                   0              0
    56031          133000       20060101         974.98       132546.89      85.80999756    No MI               0.00E+00                          5.75           20071201            13.99           7.99
    55009          147350       20060101        1112.18       146878.48      89.36000061    No MI               0.00E+00                          5.75           20071201             14.3            8.3
    90222          302000       20060101        1837.17          302000      89.43000031    No MI               0.00E+00                             0                                   0              0
    56007          153000       20060301        1365.35       152803.76               85    No MI               0.00E+00                           6.5           20090201             16.2           10.2
    80211          418000       20060101        2472.63       415848.18      84.44000244    No MI               0.00E+00                             0                                   0              0
    60440          256500       20060101           1927       255670.86               95    No MI               0.00E+00                             0                                   0              0
    55420          224700       20060101        1502.49       223777.33               90    No MI               0.00E+00                             0                                   0              0
    55443          175000       20060101        1094.64       174184.81            84.75    No MI               0.00E+00                             0                                   0              0
    33010          249000       20060101        1450.43          249000      82.55999756    No MI               0.00E+00                             0                                   0              0
    95210          250000       20051201        1247.92          250000      82.34999847    No MI               0.00E+00                             0                                   0              0
     6437          471000       20051201        3041.87          471000      89.31999969    No MI               0.00E+00                             0                                   0              0
    92026          300000       20051201         1975.8       298473.35      83.15000153    No MI               0.00E+00                             0                                   0              0
    55418          231500       20060101        1634.56       230647.26      85.73999786    No MI               0.00E+00                             0                                   0              0
    55021          167400       20060101         1127.8       166722.64               90    No MI               0.00E+00                             0                                   0              0
    80129          364000       20051201        2066.75       360466.88      82.73000336    No MI               0.00E+00                             0                                   0              0
    55316          217000       20051201        1130.21          217000      82.12999725    No MI               0.00E+00                             0                                   0              0
     1420          272650       20060101         1768.4       271462.96               95    No MI               0.00E+00                             0                                   0              0
    92154          495200       20051201           2461          492200      80.02999878    No MI               0.00E+00                             0                                   0              0
    95240          145000       20060101        1053.87       144490.77      61.70000076    No MI               0.00E+00                           6.5           20071201             13.9            7.9
    60901           72000       20051201         527.81        71360.21               90    No MI               0.00E+00                             0                                   0              0
    55040          220475       20051201        1284.27          220475      86.62000275    No MI               0.00E+00                             0                                   0              0
    92656          476000       20051201        2717.17          476000      87.31999969    No MI               0.00E+00                             0                                   0              0
    60609          131100       20051201        1091.41          131100               95    No MI               0.00E+00                             0                                   0              0
    56537           73600       20051201         651.34         73404.7      79.22000122    No MI               0.00E+00                           6.5           20071101             16.1           10.1
    60060          184320       20051201        1269.91        183443.7      89.81999969    No MI               0.00E+00                             0                                   0              0
    91977          437000       20051201        2179.43       436613.14      87.41999817    No MI               0.00E+00                             0                                   0              0
    95368          349875       20051201        1691.06          349875      83.54000092    No MI               0.00E+00                             0                                   0              0
     1022          101000       20051201         631.25          101000      89.95999908    No MI               0.00E+00                             0                                   0              0
    91103          409500       20051201        2428.89       406976.01      84.98999786    No MI               0.00E+00                             0                                   0              0
    55029           29643       20051101         227.93        29514.59              100    No MI               0.00E+00                             0                                   0              0
    92544          289000       20051201        2090.44       287780.82      83.76999664    No MI               0.00E+00                             0                                   0              0
    21012          297000       20051201        1877.24       295367.03      89.91999817    No MI               0.00E+00                             0                                   0              0
    95667          315500       20051201        1837.79          315500      81.12999725    No MI               0.00E+00                             0                                   0              0
    55987          114000       20051201         856.44       113553.44      84.44000244    No MI               0.00E+00                             6           20071101            14.25           8.25
    94544          220000       20060301        1621.96       219558.67      37.93000031    No MI               0.00E+00                          6.75           20080201            14.05           8.05
    92563          499999       20051101        2853.06        499806.8      88.87000275    No MI               0.00E+00                             0                                   0              0
    60099          152500       20051201         926.61        151529.3      87.13999939    No MI               0.00E+00                             0                                   0              0
    91792          478000       20051101        2789.48       474455.94      85.16999817    No MI               0.00E+00                             0                                   0              0
    95602          666902       20051201        3994.13       662860.79      83.36000061    No MI               0.00E+00                             0                                   0              0
    92865          472000       20051101           2301          472000      83.33000183    No MI               0.00E+00                             0                                   0              0
    33060          166000       20051201        1256.99       165756.34      89.59999847    No MI               0.00E+00                             0                                   0              0
    91745          446000       20051101        2137.08          446000      81.54000092    No MI               0.00E+00                             0                                   0              0
    60060          310500       20051101         1993.3       308559.63      81.70999908    No MI               0.00E+00                             0                                   0              0
    95683          380000       20051101        2121.67          380000      88.20999908    No MI               0.00E+00                             0                                   0              0
    92154          430000       20051101        2146.06       429929.44      86.16999817    No MI               0.00E+00                             0                                   0              0
    21085          290700       20051101        1866.19        288882.7               90    No MI               0.00E+00                             0                                   0              0
    55074          178200       20051101        1459.56       176707.59               90    No MI               0.00E+00                             0                                   0              0
    60193          499999       20051101        3160.33       496783.03      81.91000366    No MI               0.00E+00                             0                                   0              0
    60429          124200       20051201        1089.03       123862.66               90    No MI               0.00E+00                             0                                   0              0
    20716          492000       20051101        2824.47       488223.29      89.98999786    No MI               0.00E+00                             0                                   0              0
    90040          422800       20051101        2617.02       419974.57               90    No MI               0.00E+00                             0                                   0              0
    91040          480000       20051101           2460          480000      84.95999908    No MI               0.00E+00                             0                                   0              0
    21075          427000       20051101        2812.22       424457.63      88.76999664    No MI               0.00E+00                             0                                   0              0
    92592          393000       20051101        1801.25          393000      89.94999695    No MI               0.00E+00                             0                                   0              0
     2886          164000       20051101        1662.42       160872.13      81.66999817    No MI               0.00E+00                             0                                   0              0
    21230          112000       20051101         853.26       111504.89      80.69999695    No MI               0.00E+00                             0                                   0              0
    92057          405000       20051101        2242.82       404718.79      81.51999664    No MI               0.00E+00                             0                                   0              0
    92880          357000       20051101        1778.47       355693.77      81.63999939    No MI               0.00E+00                             0                                   0              0
    91977          421090       20051101        3237.82       419265.91               85    No MI               0.00E+00                             0                                   0              0
    33142          123300       20051101         948.07       122765.77               90    No MI               0.00E+00                             0                                   0              0
    91911          360000       20051101           1890          360000               90    No MI               0.00E+00                             0                                   0              0
    92114          433790       20051101        2685.04       430844.17               85    No MI               0.00E+00                             0                                   0              0
    21133          175000       20051101        1512.44       170855.13      88.69999695    No MI               0.00E+00                             0                                   0              0
    55126          180270       20051101        1104.15          180270               90    No MI               0.00E+00                             0                                   0              0
    93550          347000       20051101        2239.11       344852.37      87.58000183    No MI               0.00E+00                             0                                   0              0
    80013          337500       20051101        1757.81          337500      95.06999969    No MI               0.00E+00                             0                                   0              0
    60804          174000       20051101         992.97       173318.43      83.36000061    No MI               0.00E+00                             0                                   0              0
    94124          515000       20051101        2682.29          515000      91.15000153    No MI               0.00E+00                             0                                   0              0
    60073          138728       20051101         831.74       137609.48      89.97000122    No MI               0.00E+00                             0                                   0              0
    33028          392500       20051101         2175.1          392500      82.41000366    No MI               0.00E+00                             0                                   0              0
    92530          336000       20051101           1750          336000      86.04000092    No MI               0.00E+00                             0                                   0              0
    60091           73400       20051101          643.6        73107.63              100    No MI               0.00E+00                             0                                   0              0
    91791          104980       20051001          920.5       104596.64      99.86000061    No MI               0.00E+00                             0                                   0              0
     2453          385000       20051101        2305.79       381671.28      87.37000275    No MI               0.00E+00                             0                                   0              0
     1521          175500       20050901         914.06          175500      89.54000092    No MI               0.00E+00                           3.2           20080801            12.25           6.25
    20191          295000       20060201        2310.24       294306.54      84.29000092    No MI               100086600558050599                5.95           20080101             14.7           5.95
    43082           50000       20060401         495.15        49967.88              100    No MI               100086600548009374                   0                                   0              0
    20743          144000       20060301        1036.61       143696.21      56.68999863    No MI               100086600548009044                5.95           20080201             13.8           5.95
    43229          100000       20060201         793.85        99772.09      83.33000183    No MI               100086600548008806                5.95           20080101            14.85           5.95
    20012          460000       20060401        2968.28       459197.87      55.41999817    No MI               100086600526039930                5.95           20080301             12.7           5.95
    27295          255000       20060401        1888.91       254663.55      84.86000061    No MI               100086600526039815                5.95           20080301             14.1           5.95
    19805          184000       20060401        1460.69       183791.86               80    No MI               100086600526039757                   0                                   0              0
    27615          232000       20060401        1662.08       231671.45               80    No MI               100086600526039468                5.95           20080301            13.75           5.95
    20011          187000       20060401        1565.58       186813.36      45.06000137    No MI               100086600526039310                   0                                   0              0
    21227          192400       20060401        1681.34       192227.24      72.05999756    No MI               100086600526039179                5.95           20080301            15.95           5.95
    44107          216500       20060401        1757.61       216267.48      88.01000214    No MI               100086600526039062                5.95           20080301             15.1           5.95
    17402          150000       20060401        1234.01       149843.88            84.75    No MI               100086600526039039                5.95           20080301            15.25           5.95
    17402          130000       20060401        1189.16       129896.23      82.27999878    No MI               100086600526039039                5.95           20080301             16.5           5.95
    22968          256000       20060301        1851.74        255465.3               80    No MI               100086600526038338                5.95           20080201            13.85           5.95
    15108           58400       20060401         453.19        58330.43               80    No MI               100086600526038254                5.95           20090301             14.6           5.95
    28711          171190       20060301        1167.82       170786.93               85    No MI               100086600526038239                5.95           20080201            13.25           5.95
    92557           87000       20060301         861.55        86915.79              100    No MI               100086600484016326                   0                                   0              0
    93535          265000       20060401        2122.72       264706.39      76.80999756    No MI               100086600211020039                5.95           20080301            14.95           5.95
    33178          304000       20060401        2188.41        303573.8      51.43999863    No MI               100086600211019890                   0                                   0              0
    33024           60000       20060401         628.74        59967.35      94.04000092    No MI               100086600211019437                   0                                   0              0
    33012          166250       20060401        1319.61          166250      92.36000061    No MI               100086600211018785                5.95           20090301           15.525           5.95
    33144          262500       20060301        1722.66          262500      72.91999817    No MI               100086600211018728                5.95           20090201           13.875           5.95
    93535          594000       20060301        5059.81       593143.97               90    No MI               100086600211018710                5.95           20080201            15.65           5.95
    34953          242250       20060301        2045.81       241893.47               85    No MI               100086600211018553                5.95           20080201            15.55           5.95
    19141           70125       20060301          559.2         70006.8               85    No MI               100086600211018280                5.95           20080201             14.9           5.95
    94806          255000       20060301        2186.16       254638.29               85    No MI               100086600211018223                5.95           20080201           15.725           5.95
    36608           51000       20060301         489.54        50946.14               85    No MI               100086600211018199                   0                                   0              0
    33143           27750       20060301         260.08        27718.73      87.36000061    No MI               100086600211018017                   0                                   0              0
    19146           54400       20060401         445.57        54342.78               85    No MI               100086600211017852                5.95           20080301             15.2           5.95
    45255          127800       20060301        1093.31       127617.75               90    No MI               100086600211017423                5.95           20080201             15.7           5.95
    19138          101600       20060201         881.34       101412.61               80    No MI               100086600211017258                5.95           20080101           15.863           5.95
    33417          163000       20060301        1179.04       162659.53      52.08000183    No MI               100086600211017175                5.95           20090201            13.85           5.95
    19128          256500       20060301        2063.86       256076.51               90    No MI               100086600211017142                5.95           20080201               15           5.95
    56452          196000       20060401        1458.73       195685.68               70    No MI               100086600210059814                5.95           20080301            14.15           5.95
    56452          196000       20060401        1458.73       195744.01               70    No MI               100086600210059806                5.95           20080301            14.15           5.95
    33138           55000       20060401         509.28        54957.51              100    No MI               100086600210059434                   0                                   0              0
    33138          220000       20060401        1464.83          220000               80    No MI               100086600210059426                5.95           20080301            13.99           5.95
    56452          206500       20060401        1536.87       206230.31               70    No MI               100086600210059343                5.95           20080301            14.15           5.95
    93550          212500       20060401        1708.29       212266.51               85    No MI               100086600210059111                5.95           20080301            14.99           5.95
    95963          329000       20060401        2133.89        328365.4               70    No MI               100086600210058626                5.95           20080301            12.75           5.95
    92220          305000       20060401        2169.27       304561.52      83.55999756    No MI               100086600210058469                5.95           20080301           13.675           5.95
    93436          249000       20060401        1958.88       248712.44               59    No MI               100086600210058188                5.95           20080301            14.75           5.95
    85037          180000       20060301        1493.88       179723.72               80    No MI               100086600210058147                5.95           20080201            15.35           5.95
    91701           93400       20060401         978.74        93349.18              100    No MI               100086600210057826                   0                                   0              0
    91701          373600       20060401        2892.54       373152.69               80    No MI               100086600210057818                5.95           20080301           14.575           5.95
    93550          221000       20060401        1794.14       220762.66               85    No MI               100086600210057750                5.95           20080301             15.1           5.95
    32413          135000       20060401         1362.7       134917.96              100    No MI               100086600210057743                   0                                   0              0
    93535          310500       20060301        2495.45       309980.84               90    No MI               100086600210057701                5.95           20080201           14.987           5.95
    32301          150000       20060301        1079.81       149582.87      77.72000122    No MI               100086600210057552                   0                                   0              0
    91351          186400       20060301        1324.22          186400               80    No MI               100086600210056471                5.95           20080201           14.525           5.95
    92707           55000       20060201         555.18        54932.46              100    No MI               100086600210056257                   0                                   0              0
    92707          220000       20060201        1434.58          220000               80    No MI               100086600210056240                5.95           20080101           13.825           5.95
    91350          456000       20060201           3192          456000               80    No MI               100086600210055891                5.95           20080101             14.4           5.95
    93552          281000       20060201        1870.99       280999.03      79.83000183    No MI               100086600210055754                5.95           20080101            13.99           5.95
    92832          444000       20060401           3219          444000               80    No MI               100086600208000291                5.95           20080301             14.7           5.95
    93535          310000       20060401        2606.65       309693.83      84.47000122    No MI               100086600111032811                5.95           20080301             15.5           5.95
    90018          387450       20060301        2910.78       386703.71      77.56999969    No MI               100086600111030344                5.95           20080201            14.25           5.95
    77064           98400       20060401          760.1        98281.58               80    No MI               100101309060108678                 7.1           20080301            14.55            7.1
    77581           52000       20060401         565.08        51974.71              100    No MI               100101309060106748                   0                                   0              0
    77084           24000       20060301         256.14        23981.39              100    No MI               100101309060103620                   0                                   0              0
    77084           96000       20060301         724.59        95816.97               80    No MI               100101309060103596                7.22           20080201             14.3           7.22
    77581          208000       20060401        1569.95       207736.53               80    No MI               100101309090601025                7.18           20080301             14.3            7.3
    77004           33990       20060401         386.65        33975.74              100    No MI               100101309060101848                   0                                   0              0
    77004          135960       20060401        1094.94       135811.23               80    No MI               100101309060101830                7.15           20080301            15.01           7.15
    77006           73479       20060301         835.86        73432.45              100    No MI               100101309060101566                   0                                   0              0
    77006          293916       20060301         2343.8       293420.58               80    No MI               100101309060101384                 7.9           20080201             14.9            7.9
    75038          175200       20060401        1213.05       174933.88               80    No MI               100101309060100865                   0                                   0              0
    77389           51000       20060301         538.37        50959.11              100    No MI               100101300000012245                   0                                   0              0
    77389          204000       20060301        1518.27       203598.98               80    No MI               100101300000012237                6.15           20080201            14.15           6.15
    75021          400000       20060301        3085.58       399273.12      61.54000092    No MI               0.00E+00                           5.5           20090201           14.535            5.5
    85323          200000       20060301         1488.5       199606.84               80    No MI               100101300000011460                 7.9           20080201            14.15            7.9
    77494          152000       20060301        1114.26       151590.72      60.31999969    No MI               100101300000011288                7.74           20080201            13.99           7.74
    63136           70000       20060201         562.73        69845.02      83.83000183    No MI               100101309051110279                8.45           20090101            15.99           8.74
    75229          200000       20051201        1340.69       199015.48               80    No MI               100101309051001304               6.825           20071101           13.075          6.825
    76048           20600       20051201         180.63        20544.36              100    No MI               10010130905100629                    0                                   0              0
    76048           82400       20051201         561.55        82007.69               80    No MI               100101309051000199                6.99           20071101            13.24           6.99
    77429          120000       20060301         921.85       119779.88               80    No MI               100173250010035509                 5.5           20080201            14.49           8.49
    77429           30000       20060301         280.04        29965.46              100    No MI               100173250010035517                   0                                   0              0
    17407           85000       20060501         871.78        84951.66              100    No MI               100212504000262793                   0                                   0              0
    17407          340000       20060501           2125          340000               80    No MI               100212504000262736                 5.5           20080401             13.5            7.5
    48127           30850       20060501          305.5        30840.15              100    No MI               100144600097445654                   0                                   0              0
    48127          123400       20060501        1033.12       123338.66               80    No MI               100144600097445649                 5.5           20080401            15.45           9.45
    34677          137000       20060401         925.32          137000      79.87999725    No MI               100366000000023222                5.65           20080301           14.105          8.105
    21117          252000       20060401        2156.75       251761.64               90    No MI               100366000000022976                 5.5           20080301           15.705          9.705
     8846          296100       20060401        2480.06       295804.76               90    No MI               100366000000023008                 5.5           20080301           15.455          9.455
    48238           72000       20060501         658.07        71971.33               90    No MI               100330706010107341                 5.5           20080401            16.49          10.49
    92392           44000       20060501         477.75        43954.18              100    No MI               100040788602001166                   0                                   0              0
    92392          176000       20060501           1320          176000               80    No MI               100040788602001158                 5.5           20080401               15            5.5
    78207           69000       20060501         649.29        68974.59              100    No MI               100424906020027037                 5.5           20080401            16.85          10.85
    40229           73520       20060401         502.53        73405.41               80    No MI               100330706020109105                 5.5           20080301            13.27           7.27
    55373         76453.6       20060501         843.94           76436              100    No MI               100281223844200622                   0                                   0              0
    64152          113600       20060401         804.67          113600               80    No MI               100331700902479826                 5.5           20080301             15.5            8.5
    46219          142400       20060401         919.67          142400               80    No MI               100331700902461915                 5.5           20080301            14.75           7.75
    95829          339200       20060401        2084.67          339200               80    No MI               100331700902401218                 5.5           20080301           14.375          7.375
    43619           22000       20060501         243.71        21994.99              100    No MI               100330706030112784                   0                                   0              0
    92392          328000       20060401        1879.17          328000               80    No MI               100331700902238917               5.875           20090301           13.875          6.875
    48317          461550       20060401        3457.78          461550               85    No MI               100331700902445405                2.25           20080301            15.99           8.99
    17777           60350       20060401         480.17        60282.09               85    No MI               100331700902328502                 7.5           20090301           15.875          8.875
    43619           88000       20060501          732.9         87955.7               80    No MI               100330706030112776                   0                                   0              0
    44212          228800       20060401        1453.83          228800               80    No MI               100331700902426991               6.625           20080301           14.625          7.625
    23704           99000       20060401         796.58        98891.43               90    No MI               100331700902423410                   8           20090301               16              9
    19460          352800       20060401           2499          352800               90    No MI               100331700902485732                6.75           20080301             14.5            8.5
    48164          375200       20060401        2498.21          375200               80    No MI               100331700902464869                 5.5           20090301            14.99           7.99
    32208           91800       20060401         763.55        91706.92               90    No MI               100331700902436545               7.375           20080301           16.375          9.375
    95833          307500       20060501        2424.14       307438.48               75    No MI               10015801806010035                  5.5           20080401            15.22           9.22
    91344          442000       20060401        3128.45       441358.15      70.16000366    No MI               100331700902412876               6.375           20080301           14.625          7.625
    19406          206250       20060501         1781.1       206154.99      74.19000244    No MI               100076500000934154                   6           20080401            15.81           9.81
    80204           27980       20060501         297.97        27972.79              100    No MI               100030200010113882                   0                                   0              0
    22407          333750       20051001        2148.52          333750               75    No MI               100213300000100169               6.375           20070901           13.725          7.725
    80204          111920       20060501         851.07        111850.5               80    No MI               100030200010113874                 5.5           20080401            14.38           8.38
    46012           56700       20060501         523.33        56677.99               90    No MI               100330706020110418                 5.5           20080401            16.61          10.61
    20715          280000       20060401        1983.33          280000      73.68000031    No MI               100022100135973568               7.125           20080301             14.5            8.5
    85225          141000       20060501         981.12          141000               75    No MI               100386100002107563                 5.5           20080401            14.35           8.35
    34772          213000       20060501        1484.96       212840.97      69.83999634    No MI               100386100002107787                 5.5           20080401            13.47           7.47
    55373        305814.4       20060501        2252.83        305814.4               80    No MI               100281276238442002                 5.5           20080401            14.84           8.84
    55109          185250       20060201        1644.09          185250               95    No MI               100220710000106217               5.875           20110101            16.65          5.875
    53144          197100       20060201        1773.55       196768.67               90    No MI               100220710000105409               5.875           20080101             16.3          5.875
    55434          160000       20060201        1398.21       159710.25               80    No MI               100220710000104451               5.875           20080101            15.95          5.875
    55303          156713       20060201        1260.95       156366.73               90    No MI               100220710000106365               5.875           20080101               15          5.875
    60544          261800       20060201        1690.79          261800               85    No MI               100220710000103115               5.875           20080101            13.75          5.875
    53098          144000       20060201        1216.09       143716.29               80    No MI               100220710000102976               5.875           20080101            15.55          5.875
    60409           55000       20060201         592.34        54944.36              100    No MI               100220710000103537                   0                                   0              0
    33991          299800       20060501        2340.94          299800      79.97000122    No MI               100386100002106284                 5.5           20080401            15.37           9.37
    46016           65700       20060501         606.39        65674.51               90    No MI               100330706020110400                 5.5           20080401            16.61            5.5
    85250          303450       20060401        2804.17       303214.22               85    No MI               100258920060100001                 5.5           20080301           16.625         10.625
    83703          213750       20060401        1426.41       213541.38               75    No MI               100258910060115208                 5.5           20080301           13.625          7.625
    47130          104600       20060401         728.71          104600               80    No MI               100330706020109584                 5.5           20080301            14.36           8.36
    15129          131000       20060401         995.69       130836.59      77.51000214    No MI               100258910060108476                 5.5           20080301           14.375            5.5
    34761          272000       20060401         1777.3       271816.27               80    No MI               100258910060200752                 5.5           20080301           13.437          7.437
    98513          148000       20060501        1301.17          148000               80    No MI               100153220602005297                 5.5           20080401            16.55          10.55
    29649           86400       20060101         769.42        86212.76               80    No MI               100213300000117973                 5.9           20071201           16.175         10.175
    98671          248000       20060401        1705.79       247853.28      82.58000183    No MI               100258940051200347                 5.5           20080301             13.9            7.9
    46224           20400       20060501         225.98        20395.36              100    No MI               100330706020112505                   0                                   0              0
    46224           81600       20060501         650.12         81554.4               80    No MI               100330706020112273                 5.5           20080401            14.89           8.89
    91744          416250       20060401        3500.06       415838.88               75    No MI               100258910060116586                 5.5           20080301             15.5            9.5
    85017          142000       20060401        1206.98        141866.4      67.62000275    No MI               100258930006020002                 5.5           20080301           15.625           9.65
    85635           98000       20060501         1039.7        97892.93              100    No MI               0.00E+00                             0                                   0              0
    29803          113400       20060401        1062.83       113315.16               70    No MI               100016900063352695                   0                                   0              0
    85635          392000       20060501        2873.62       391736.45               80    No MI               100153210601014283                 5.5           20080401            13.99           7.99
    33141          648000       20060501        4927.56       647597.64               80    No MI               100059400000008375                 5.5           20080401            14.38           8.38
    93630          188000       20060401        1307.19       187891.92      64.83000183    No MI               100258910060202337                 5.5           20080301               14              8
    33032           94500       20060401         648.22        94443.69      45.86999893    No MI               100258940051202236                 5.5           20080301           13.875          7.875
    32073          270560       20060401        2324.53       270306.51               95    No MI               100258910060109904                 5.5           20080301            15.75           9.75
    83642          186400       20060401        1126.17          186400               80    No MI               0.00E+00                           5.5           20080301            13.25           7.25
    23228          158650       20060401        1334.02        158493.3               95    No MI               100258940060100561                 5.5           20080301             15.5            9.5
    98684          137000       20060401         993.35        136810.8      65.87000275    No MI               100258950060100933                 5.5           20080301           13.875          7.875
    33484          176000       20060501        1323.82       175959.51               80    No MI               100271100000213817                 5.5           20080401            14.75           8.75
    95206          282800       20060401        2127.14       282666.53               70    No MI               100258910060106421                 5.5           20080301            14.75           8.75
    80219           31000       20060401         321.86        30982.65              100    No MI               100258910060112163                   0                                   0              0
    80219          124000       20060401         862.78       123813.53               80    No MI               100258910060103402                   0                                   0              0
    95242          266000       20060401        2049.77        265885.6               70    No MI               100258940060101247                 5.5           20080301            14.99           8.99
    19702           33600       20060501         331.97        33589.19              100    No MI               100076500001186432                   0                                   0              0
    19702          134400       20060501         832.16          134400               80    No MI               100076500000941290                 5.5           20080401            13.43            5.5
    32809          141000       20060401         889.05       140895.97               75    No MI               100258910060115018                 5.5           20080301           13.125          7.125
    19032           85000       20060401         714.73        84915.77      77.26999664    No MI               100258950060100594                 5.5           20080301             15.5            9.5
    32837          100000       20060501         899.82        99958.51            34.25    No MI               100271100000211837                   6           20080401             16.3           10.3
    34744          222000       20060401        1968.75       221776.43               75    No MI               100258940060102906                 5.5           20080301           16.125         10.125
     3048          149600       20060101         945.57       148916.44               80    No MI               1000606-7700253656                 5.5           20071201             12.5            6.5
    53215           26000       20060501         271.85        25992.92              100    No MI               100101309060207793                   0                                   0              0
    53215          104000       20060501         876.77       103949.16               80    No MI               100101309060205839                 5.5           20080401            15.53           9.53
    85022          147000       20060401        1471.36       146204.26      29.21999931    No MI               100213300000127667                   0                                   0              0
    48180          123750       20060501        1150.53       123702.91               75    No MI               100330706020109311                6.25           20080401             16.7           10.7
    93291          102000       20060501         765.57       101934.83      56.66999817    No MI               100153210602020057                   0                                   0              0
    33351          222300       20060501        1856.26        222188.8               90    No MI               100030200010112967                   0                                   0              0
    17545          184800       20060401        1962.98       184703.52               70    No MI               100016900063464151                   0                                   0              0
    19050          146700       20060501        1184.61       146620.53               90    No MI               100076500000933370                 5.5           20080401            15.04           9.04
    19020          228000       20060501        1661.87       227844.83               80    No MI               100076500000943189                   0                                   0              0
    54930           47200       20060301          354.6        47109.04               80    No MI               100220710000109153               5.875           20080201            14.25           8.25
    53210           54600       20060301         449.18        54514.43               70    No MI               100220710000109328               5.875           20080201            15.25          5.875
    55429          123600       20060301        1042.88          123600               80    No MI               100220710000109120               7.625           20080201           16.125          7.625
    53186          196000       20060301        1370.46       195529.62               80    No MI               100220710000108015               5.875           20080201             13.5          5.875
    56011          304000       20060301        1946.55       303022.27               80    No MI               100220710000107520               5.875           20080201           12.625          5.875
    60641          373500       20060301        2885.14       372823.34               90    No MI               100220710000107637               5.875           20080201            14.55          5.875
    53406           31040       20060201         310.95        31001.02              100    No MI               100220710000103800                   0                                   0              0
    53406          124160       20060201         906.72          123820               80    No MI               100220710000103768               5.875           20080101            13.95          5.875
    55110          120000       20060201            765          120000               80    No MI               100220710000105359               5.875           20080101            13.65          5.875
    60644          128000       20060201         852.27          128000      82.58000183    No MI               100220710000104766               5.875           20080101            13.99          5.875
    53121          391500       20060201        3178.31       390652.69               87    No MI               100220710000103354               5.875           20080101             15.1          5.875
    55434          204000       20060201         1358.3          204000               80    No MI               100220710000103081               5.875           20080101            13.99          5.875
    60104          150400       20060201         938.75          150400               80    No MI               100220710000105144               5.875           20080101            13.49          5.875
    55904          209600       20060201        1387.45       208899.89               80    No MI               100220710000102455               5.875           20080101            12.95          5.875
    60544          174000       20060101        1525.69       173607.83              100    No MI               100220710000101598                   0                                   0              0
    55372          261600       20060201         1613.2          261600               80    No MI               100220710000103404               5.875           20080101             13.4          5.875
    60605          132000       20051201        1157.42       131638.89               95    No MI               100220710000094512                   0                                   0              0
    46151           24000       20060401         242.26        23985.41              100    No MI               100330706020107935                   0                                   0              0
    33852          154000       20060501        1013.83          154000      89.52999878    No MI               100271100000205664                 5.5           20080401             13.9            7.9
    23666          258750       20060501        2256.39       258633.69               75    No MI               0.00E+00                           5.5           20080401           15.925          9.925
    33909          135000       20060501         856.13          135000      57.45000076    No MI               1001532-2060200732                 5.5           20080401            13.61           7.61
    78244           29980       20060301         286.84        29858.65      99.51999664    No MI               1001504-0106912413                   0                                   0              0
    78244          119920       20060301         879.09       119676.51               80    No MI               1001504-0106912412                6.99           20080201            14.99           7.99
    55444          223200       20060501        1743.75          223200               90    No MI               100386100002105153                 5.5           20080401           15.375          9.375
    78266           31395       20060201         300.37        31224.85              100    No MI               1001504-1205900129                   0                                   0              0
    78266          125590       20060201        1032.29       125325.98               80    No MI               1001504-1205900128                7.24           20080101            16.24           9.24
    46016           54000       20060501         541.77        53983.38               90    No MI               100059400000008292                 5.5           20080401            17.67          11.67
    46011           68400       20060501         686.25        68378.94               90    No MI               100059400000008300                 5.5           20080401            17.67          11.67
    92335          190000       20060501        1822.35       189933.57      52.77999878    No MI               0.00E+00                             0                                   0              0
    19803          228000       20060501         1649.2        227842.3               80    No MI               100076500000926291                   6           20080401            13.85           7.85
    28027          123120       20060401         878.22       122944.06               80    No MI               100016900054848370                 5.5           20080301           13.705          7.705
    85323           60000       20060501         629.67        59983.83               95    No MI               100386100002103406                   0                                   0              0
    85323          320000       20060501           2288          320000               80    No MI               100386100002103356                 5.5           20080401            14.58           8.58
    92236          354591       20060401        3079.09       354267.47               90    No MI               100144600097443867                   6           20080301           15.875          9.875
    86426          198000       20060101        1442.52       197316.56               90    No MI               100213300000113303                6.25           20071201           13.925          7.925
    63119           50000       20060401         380.92        49937.94      32.04999924    No MI               100404400000025629                 5.5           20080301             14.4            8.4
    53227           45600       20060501         460.29        45586.21              100    No MI               100101309060206779                   0                                   0              0
    48223           50400       20060401          442.3        50355.21               70    No MI               100330706020111234                 5.5           20080301               16             10
    53227          182400       20060501        1415.45       182291.75               80    No MI               100104309060206761                 5.5           20080401             14.6            8.6
    78233           86625       20060201         791.75        86485.17               70    No MI               0.00E+00                             8           20080101            17.49              8
    21229           99000       20060501         650.36        98916.83               90    No MI               0.00E+00                             0                                   0              0
    63021           26400       20060301         263.57        26301.44              100    No MI               1001504-0106912399                   0                                   0              0
    33309          113000       20060501          907.6       112938.02      62.77999878    No MI               100203000135645961                6.25           20080401            13.98           8.98
    85648           85600       20060501         554.97           85600               80    No MI               0.00E+00                             6           20080401            13.78           7.78
    24441          237600       20060501        1998.93       237561.27               90    No MI               0.00E+00                           5.5           20080401             15.9            9.9
    77004          252875       20051201        1944.39       251838.71               85    No MI               0.00E+00                           5.5           20071101             15.5            8.5
     8234           52000       20060401         571.97        51975.67              100    No MI               100022100135625416                   0                                   0              0
     8234          208000       20060401        1679.61       207773.79               80    No MI               100076500000922480                 5.5           20080301            15.04           9.04
    63945           80000       20060501         547.37        79937.96      78.51000214    No MI               100386100002102382                 5.5           20080401            13.28           7.28
    55959          170000       20060501        1245.04       169885.46               85    No MI               100386100002102671                 5.5           20080401            13.98           7.98
    34758          100000       20060501         696.48        99925.19      43.47999954    No MI               100386100002102911                 5.5           20080401            13.46           7.46
    92703          114000       20060401        1128.93       113926.79              100    No MI               100144600097445201                   0                                   0              0
    92703          456000       20060401           3040          456000               80    No MI               100144600097445193                 5.5           20080301               14              8
    33559          154000       20060501        1055.78       153881.05               70    No MI               100144600097445540                 5.5           20080401             13.3            7.3
    32720          117000       20060401         909.18       116861.07      83.56999969    No MI               100016900063066907                   0                                   0              0
    30213          167320       20060101        1220.04          167320               80    No MI               100016900060772911                 5.5           20071201            14.75           8.75
    34234           93700       20060301         706.62         93133.6      62.47000122    No MI               100016900063422993                   0                                   0              0
    30120           43600       20060301          447.8        43557.61              100    No MI               100016900063255344                   0                                   0              0
    30034          106222       20060401         725.85          106222               80    No MI               100016900063199179                 5.5           20080301             14.2            8.2
    33618           30000       20060301         307.89        29973.82              100    No MI               100016900063303441                   0                                   0              0
    32244          200600       20060501        1556.68       200480.95               85    No MI               0.00E+00                           5.5           20080401             14.6            8.6
    19977          159200       20060401        1187.37          159200               80    No MI               100076500000909537                 5.5           20080301            14.95           8.95
    61265           80000       20060401         680.28        79502.84      81.62999725    No MI               0.00E+00                             6           20080301            15.63           9.63
    89032          197576       20060401        1173.11          197576               80    No MI               100246100006631485               7.125           20080301           13.125          7.125
    86403          310500       20060501        2851.43          310500               90    No MI               0.00E+00                           5.5           20080401            17.02          11.02
    32920          140000       20060501        1147.69       138545.46      41.18000031    No MI               100198900000044363                 5.5           20080401            15.21            5.5
    19464           76500       20060401         671.34        76432.04               90    No MI               100076500000935953                 5.5           20080301               16             10
    11702          280000       20060401        2455.13       279750.71      62.22000122    No MI               100102600400506269                6.75           20080301            15.99           9.99
     8081          115920       20060401         899.55       115781.93               80    No MI               100076500000823308                 5.5           20080301             14.6            8.6
    63137           64000       20060501         553.39        63970.61               80    No MI               100386100002101079                 5.5           20080401           15.825          9.825
    33126           38000       20060401         389.41        37977.91              100    No MI               0.00E+00                             0                                   0              0
    33126          152000       20060401        1085.49       151918.74               80    No MI               0.00E+00                           5.5           20080301            14.25           8.25
    78216           73150       20060501         674.06        73121.49               95    No MI               100101309060204394                 5.5           20080401            16.59          10.59
    85041          190000       20060401        1536.16       189911.61      69.08999634    No MI               100153210602008565                6.75           20080301            15.48           9.48
    78223           42100       20051001         369.15        41946.23              100    No MI               100150407059000896                9.49           20070901            16.99           9.99
    85033          147750       20060401        1280.26       147614.49               75    No MI               0.00E+00                          6.25           20080301            15.85           9.85
    80540          367500       20060501        2836.18       367279.19               70    No MI               100030200094006796                 5.5           20080401            14.54           8.54
    85364          165500       20060401        1551.14       165376.17      69.83000183    No MI               0.00E+00                          6.25           20080301             16.8           10.8
    92314          204000       20060401        1772.39       203939.96               85    No MI               100144600097444600                5.75           20080301            16.25          10.25
    31069           50400       20060501         462.73        50380.16      88.41999817    No MI               100129600000522368                 5.5           20080401           16.545         10.545
    22482           25400       20060501         273.51        25373.08              100    No MI               100124100000020906                   0                                   0              0
    22482          101600       20060501         713.19        101525.2               80    No MI               100124100000020898                 5.5           20080401            13.54           7.54
    93705           90000       20060401         812.25           90000      32.72999954    No MI               100153220601020735                6.75           20080301            16.83          10.83
    80433          190000       20060401         1187.5          190000               76    No MI               100030200010110292                 5.5           20080301             13.5            7.5
    83501           95920       20060201         680.57        95641.03               80    No MI               100173250020041786                5.65           20080101            13.65           7.65
    30315           28000       20060401         288.01        27981.89              100    No MI               100184698160206113                   0                                   0              0
    30315          112000       20060401         774.65       111997.67               80    No MI               100184698160206105                 7.3           20080301             14.3            8.3
    33881           18060       20060101         187.86        18034.46              100    No MI               100144600097426904                   0                                   0              0
    33881           72240       20060101         529.57        71993.78               80    No MI               100144600097426896                 5.5           20071201            14.49           7.99
    33308           87000       20060401         608.32        86870.46      41.43000031    No MI               100060806020038498                   0                                   0              0
    92173          238000       20060101        1566.21       237601.49               70    No MI               100093900000100815                 5.3           20071201             13.5            7.5
    11727          344800       20060501        2358.71       344696.86               80    No MI               1002711-0000020979                 5.5           20080401            13.85           7.85
    90220          225000       20060401         1654.6       224889.15      64.29000092    No MI               0.00E+00                          6.25           20080301            14.53           8.53
    32130           30000       20060401         344.44        29926.93              100    No MI               1001532-1060103677                   0                                   0              0
    40241          193500       20060401        1751.96       193341.34               90    No MI               100330706020109881                 5.5           20080301           16.375         10.375
    98270          216000       20060501        1547.45       215847.55               90    No MI               0.00E+00                           5.5           20080401            13.75           7.75
    92704           76000       20060401          796.4        75958.65              100    No MI               100144600097444303                   0                                   0              0
    17020           76000       20060401         597.89        75912.23               95    No MI               100212504000255185                 5.5           20080301            14.75            5.5
    98391          225750       20060501        1937.88       225128.51               75    No MI               0.00E+00                          5.75           20080401            14.74           9.74
    94605          247000       20060401        2058.67       246916.66               65    No MI               0.00E+00                           5.5           20080301             15.8            9.8
    85303          178500       20060501        1211.64       178359.36               85    No MI               0.00E+00                             0                                   0              0
    32130          120000       20060401         863.01       119831.43               80    No MI               0.00E+00                           5.5           20090301            13.79           7.79
    56243          141525       20060401        1487.41       141448.69               85    No MI               1004044-0000002571                 5.5           20080301            18.29          12.29
     1588          193000       20060201        1399.38       192463.47      85.77999878    No MI               100060677002557445                 5.5           20080101           13.875          7.875
    93277          310000       20060401        2383.63       309623.07            62.25    No MI               1001532-1060101533                   0                                   0              0
    85363          252000       20060501        1800.14       251821.06               80    No MI               100386100002097038                 5.5           20080401            13.72           7.72
    65793           50850       20060501         414.66        50823.07               90    No MI               100386100002096683                 5.5           20080401            15.15           9.15
    20011          168000       20060501         1272.6          168000               80    No MI               100386100002096659                 5.5           20080401            15.09           9.09
    18466          131440       20051201         910.06       130833.64               80    No MI               100350300000564169                7.05           20071101             13.4            7.4
     8053          240000       20060401        2159.57       239800.01      82.76000214    No MI               100076500000939336                 5.5           20080301             16.3           10.3
    55025          194000       20060401         1328.9          194000      71.84999847    No MI               1001532-1060200128                 5.5           20080301            14.22           8.22
    18466           32860       20051201         331.69        32798.91              100    No MI               100350300000564318                   0                                   0              0
    65608           58500       20060501         477.04        58469.02               90    No MI               100386100002096303                 5.5           20080401            15.15           9.15
    30504           93000       20060401         651.77        92999.78               80    No MI               100016900057696909                 5.5           20080301            14.41           8.41
    32771           42000       20060401         432.02        41975.84              100    No MI               100022100135165058                   0                                   0              0
    76210          143120       20060401        1048.17       142706.03               80    No MI               100404400000022444                 5.5           20080301            13.98            5.5
    60048          320000       20060401        3020.87        319765.2      94.12000275    No MI               1001296-0000052164                 5.5           20080301            16.89          10.89
    33936          272000       20060401           1632          272000               80    No MI               1001532-1060103033                 5.5           20080301             13.2            7.2
    70827          123200       20051201         969.21       122766.91      79.54000092    No MI               100350300000555126                 8.7           20071101            14.75           8.75
    97121          176250       20060401         1576.1       176100.76               75    No MI               1001532-1060200176                6.25           20080301           16.225         10.225
    33496           66320       20060301         790.26        66149.17              100    No MI               100202930601110069                   0                                   0              0
    77586           95400       20051201         667.05         94968.5               75    No MI               100350300000571784                   0                                   0              0
    77034           25000       20051201         214.79        24928.56              100    No MI               100350300000549210                   0                                   0              0
    70778           13500       20051101         136.27        13470.56              100    No MI               100350300000502581                   0                                   0              0
    70778           54000       20051105         434.11        53788.38               80    No MI               100350300000502235                8.64           20071005            14.99           8.99
    77034          100000       20051201         692.38        99538.66               80    No MI               100350300000549061                7.05           20071101             13.4            7.4
    70764           68000       20051201         596.25        67816.87               80    No MI               100350300000538890                6.25           20071101            15.99           9.99
    17113           79920       20051201         550.63        79544.75               80    No MI               100350300000548436                 7.3           20071101            13.35           7.35
    19425          300000       20060501        2608.36       299864.14      64.51999664    No MI               100076500000934170                6.25           20080401            15.89           9.89
    20852          183000       20060401        1258.13          183000      40.93999863    No MI               100031458006012893                6.25           20080301            14.25           8.25
    90650           99800       20060401         973.11        99733.03              100    No MI               100144600097443131                   0                                   0              0
    90650          399200       20060401        2361.93          399200               80    No MI               100144600097441739                 5.5           20080301             13.1            7.1
    77515           50800       20050901         397.83        50526.38      79.37999725    No MI               100350300000423036                   6           20070801             14.7            8.7
    77489           66400       20050801         517.63        65997.11               80    No MI               100350300000329878                7.25           20070701            14.65           8.65
    92376          323000       20060401        2018.75          323000               85    No MI               100144600097443776                 5.5           20080301             13.5            7.5
    89120          209000       20060401        1698.13          209000               95    No MI               1001446-0009744253                 5.5           20080301            15.75           9.75
    30117          204000       20060301         1855.4       203750.94               85    No MI               100148700000159281                 5.5           20080201            16.43          10.43
    33618          120000       20060301         808.87        119613.1               80    No MI               100016900049930937                 5.5           20080201            13.13           7.13
    78245           25000       20060501         218.47        24988.82              100    No MI               100101309060103307                   0                                   0              0
    78245          100000       20060501         765.02        99938.73               80    No MI               100101309060103299                 5.5           20080401           14.445          8.445
    92082          151000       20060401         1466.6       150897.58              100    No MI               100144697443610                      0                                   0              0
    92082          604000       20060401        4215.42          604000               80    No MI               100144600097443602                 5.5           20080301           14.375          8.375
    43205          116000       20060401            812          116000               80    No MI               100330706020108172                 5.5           20080301             14.4            8.4
    77067           82670       20060501            648        82622.05      89.86000061    No MI               100198900000044694                   0                                   0              0
    33880          103500       20060401         669.66       103428.34               90    No MI               0.00E+00                           5.5           20080301            13.35           7.35
    33755          102850       20060401         830.52       102738.15               85    No MI               100060806020037268                 5.5           20080301            15.04            5.5
    85250          198000       20060401        1591.73       197782.43               60    No MI               100101309051203439                 5.5           20080301            14.99           8.99
    33441          189000       20060501        1283.62          189000               90    No MI               1002711-0000020942                   0                                   0              0
    33705          101250       20060501         655.37       101162.47      58.52999878    No MI               100386100002090421                 5.5           20080401            12.73           6.73
    85035           32000       20060301         301.72        31964.52              100    No MI               M10010130000001111                   0                                   0              0
    85224          202500       20060301        1442.81          202500               75    No MI               100101300000011296                 8.3           20080201            14.55            8.3
    85242           47622       20060301         491.31        47581.09              100    No MI               M10010130905121101                   0                                   0              0
    85035          128000       20060301         886.25       127707.45               80    No MI               M10010130000001110                7.15           20080201             13.4           7.15
    85242          190486       20060301        1444.52          190486               80    No MI               M10010130905121095                8.85           20080201             15.1           8.85
    77028          164000       20060301           1025          164000               80    No MI               M10010130000000117                8.55           20090201             13.5           8.55
    85706           29300       20060301         295.76        29264.55              100    No MI               M10010130000001138                   0                                   0              0
    85706          117200       20060301         807.48       116904.02               80    No MI               M10010130000001137                 7.1           20080201            13.35            7.1
    79109          103230       20060301         886.91       103084.32               90    No MI               M10010130905121037                8.25           20080201            15.75           8.25
    85204           48840       20060301         460.51        48785.82              100    No MI               M10010130000001142                   0                                   0              0
    85204          195360       20060301         1188.4       195353.55               80    No MI               M10010130000001141                7.05           20080201             13.3           7.05
    85051           51000       20060301          514.8        50953.27              100    No MI               M10010300000000117                   0                                   0              0
    85051          204000       20060301           1428          204000               80    No MI               M10010300000001169                 8.1           20080201             14.4            8.1
    87121          153000       20060301        1229.97       152739.04      89.54000092    No MI               M10010130905120824                8.74           20080201            14.99           8.74
    85364          223680       20060301        1525.89       223153.37               80    No MI               M10001130000001118                   7           20080201            13.25              7
    85041           37000       20060301         366.13         36964.1              100    No MI               M10010130000000980                   0                                   0              0
    48656           58300       20060301         608.67        58251.65              100    No MI               100022100148798374                   0                                   0              0
    85353          120000       20060301         935.48       119785.01      72.73000336    No MI               M10010130000001109                 6.4           20090201            15.65            8.4
    85017          123200       20060301         895.42       122945.27               70    No MI               M10010130000001066                   0                                   0              0
    85041          148000       20060301         985.43          148000               80    No MI               M10010130000000979                7.74           20080201            13.99           7.74
    66002          112800       20060301         804.22       112550.44               80    No MI               M10010130905111028                7.45           20080201             13.7           7.45
    77031           81000       20060101         630.87        80758.19               90    No MI               M10010130905110764                   8           20071201            14.64           8.89
    75104           95999       20060101         696.06        95664.29               80    No MI               M10010130905110241                   0                                   0              0
    85239          155770       20060101         957.31       155765.23               80    No MI               M10010130905110062               7.125           20071201           13.375          7.125
    64133           20000       20060101          211.9        19973.29              100    No MI               100022100148797384                   0                                   0              0
    64133           80000       20060101         606.65        79746.59               80    No MI               100101309051100155                8.15           20071201            14.35           8.15
    85219          156000       20060101         1074.8       155396.14               80    No MI               M10010130905100984                 7.1           20071201            13.35            7.1
    75248           50000       20060101         340.75         49802.2      29.76000023    No MI               M10010130905100717                6.99           20071201            13.24           6.99
    79936           59990       20051201         439.14        58731.18      79.98999786    No MI               M10010130905100041                   0                                   0              0
    36804           76500       20060301         646.05         76387.4               85    No MI               M10010130905100029                 7.5           20080201            15.55            9.3
    85035          193500       20051201        1167.45          193500               90    No MI               M10010130905081123                6.99           20071101            13.24           6.99
    52405          115200       20060301         977.08       115031.21               90    No MI               M10010130000000614                 8.2           20080201             15.6           9.35
    85232           32523       20060101         309.72        32463.97              100    No MI               M10010130505800071                   0                                   0              0
    85232          130088       20060101         823.89          130088               80    No MI               M10010130505070172                7.35           20071201             13.6           7.35
    64063          103120       20060201         731.65       102820.11               80    No MI               M10010130000000812                 7.4           20080101            13.65            7.4
    64138           84800       20060301         533.53           84800               80    No MI               M10010130000001148                 7.3           20080201            13.55            7.3
    64119          130500       20060101        1024.31       129849.45               90    No MI               M10010130000000073               8.475           20071201           14.725          8.475
    62269           25353       20060301         241.25        25325.57      99.72000122    No MI               101101210051200318                   0                                   0              0
    62269          101290       20060301         734.42       101079.52      79.76000214    No MI               100101310051200110               7.625           20080201           13.875          7.625
    85035          110000       20060301         932.98       109839.79      64.70999908    No MI               M10010310051000040               7.875           20080201             15.6           9.35
    62014           50000       20060301         358.21        49893.44      90.91000366    No MI               M10010310050901688                 6.5           20080201             13.5            7.5
    23834          124000       20060501        1179.94       123955.69               80    No MI               1002711-0000020607                6.25           20080401            16.99          10.99
    85017          112000       20060501         778.53       111915.87               80    No MI               100386100002089357                 5.5           20080401            13.44           7.44
    28031          159556       20060201        1329.54       159544.39              100    No MI               100032100000612968                 6.5           20080101               16             10
    30127          248400       20060201         1966.5          248400              100    No MI               100032100000529675                 6.5           20090101             15.5            9.5
    30126          110900       20060201         958.82          110900              100    No MI               100032100000631265                 6.5           20080101           16.375         10.375
    76901           59400       20060201          536.7        59301.24               90    No MI               100060800000248458                 5.5           20080101            16.35            5.5
    76020           82800       20060501         752.15        82766.48               90    No MI               100101309060201077                 5.5           20080401           16.415         10.415
     8879          176000       20060201        1350.79       175567.19               80    No MI               100366000000021770                5.65           20080101            14.48           8.48
     7307           25000       20060201         233.37        24959.93      56.40999985    No MI               100046600005729372                   0                                   0              0
    60637          288000       20060201           2118          288000               80    No MI               100213300000122866                5.75           20080101           14.825          8.825
    20613          442000       20060301        2670.42          442000      77.54000092    No MI               100213300000123849                5.75           20080201            13.25           7.25
    86442           72000       20060301         578.03        71880.52               60    No MI               100213300000123997                5.75           20080201           14.975          8.975
    21216          117250       20060301         951.87       117060.14               70    No MI               100213300000123625                6.75           20080201             15.1            9.1
    59718          115000       20060301         796.24       114325.87      48.31999969    No MI               100213300000123351                   0                                   0              0
    96766           71600       20060201         750.29        71521.32              100    No MI               100213300000122106                   0                                   0              0
    29732           95400       20060201         894.38           95400               90    No MI               100213300000122635                 5.9           20080101            17.25          11.25
    39818           39600       20060301         421.87        39569.09               90    No MI               100213300000123930                   0                                   0              0
    60108          156000       20060201         893.39       155936.67               80    No MI               100213300000120035                5.75           20090101           12.875          6.875
    40391           90400       20060201         716.03        90192.88               80    No MI               100213300000120753                 5.9           20080101           14.825          8.825
    45419          145350       20060301        1097.08       145072.86               95    No MI               100213300000122627                5.75           20080201             14.3            8.3
    29325           61750       20060301         499.08         61649.1               65    No MI               100213300000123880               6.125           20080201            15.05           9.05
    49423          133600       20060301          918.5          133600               80    No MI               100213300000124177                 5.9           20080201            14.25           8.25
    45212          214000       20060201        1412.98       213281.73      79.26000214    No MI               100213300000120407                 5.9           20080101           12.925          6.925
    28227          440000       20060201        3367.64       438911.34      83.01999664    No MI               100213300000120985                   6           20080101            14.45           8.45
    32503          238000       20060201        1983.89        237516.1               85    No MI               100213300000120084                   6           20080101             15.4            9.4
    60505          202500       20060201        1732.36       202113.41               90    No MI               100213300000119417                   6           20080101             15.7            9.7
     3106          148000       20060301         969.78       147623.01      69.80999756    No MI               100213300000123823                 5.9           20080201            12.85           6.85
    78130          159200       20060201        1361.93       158896.09               80    No MI               100213300000121439                   6           20080101             15.7            9.7
    30294           71725       20060101         628.11        71562.84               95    No MI               100213300000116579                5.75           20071201           15.975          9.975
    49646           64480       20060201         566.89           64480               80    No MI               100213300000119102                 5.9           20080101            16.55          10.55
    96766          286400       20060201        2017.28       285554.52               80    No MI               100213300000122098                5.75           20080101           13.575          7.575
    78210           78400       20051001         560.58        77864.86               80    No MI               100353000000438513                   6           20070901            13.73           7.73
    77388          108036       20051001          928.2       107618.19            79.75    No MI               100350300000457323                   6           20070901            15.75           9.75
    30311           41000       20060101         436.78        40946.14              100    No MI               100213300000117866                   0                                   0              0
    77373           70000       20051001         447.06        69043.63               80    No MI               100350300000445344                   6           20070901             12.6            6.6
    63136           53600       20051001            384        53290.41               80    No MI               100350300000474880                7.25           20070901            13.75           7.75
    12809          170000       20060201        1206.17       169505.62               85    No MI               100213300000121421                 7.4           20080101            13.65           7.65
    33647          178750       20060101        1296.06       178126.82               65    No MI               100213300000115233                 5.9           20071201           13.875          7.875
    49646           26100       20051201         266.96        26028.22              100    No MI               100213300000113014                   0                                   0              0
    84403          172800       20051201         1022.4          172800               80    No MI               100213300000113717                5.75           20071101             13.1            7.1
     6320          241600       20060201        1730.85       240911.29               80    No MI               100213300000120316                5.75           20080101            13.75           7.75
    77590           61750       20051001         499.08         61475.8               95    No MI               100350300000436392                   6           20070901            15.05           9.05
    77590           61750       20051001         499.08         61475.8               95    No MI               100350300000442275                   6           20070901            15.05           9.05
    36830           79200       20050901          567.4        78683.71               90    No MI               100350300000361533                   6           20080801            13.75           7.75
    21225          133000       20060201        1022.65       132657.23      91.72000122    No MI               100213300000120340                6.95           20080101             14.5            8.5
    77061           84000       20050901         783.49        83704.37               80    No MI               100350300000430502                   6           20070801            16.74          10.74
    78727           92000       20060201         824.41        91825.69               80    No MI               100213300000117759                   7           20080101            16.25          10.25
    70814          100800       20060101         652.11       100359.04               80    No MI               100213300000113782                5.75           20071201           12.725          6.725
    45403           50000       20051201         374.17           50000      83.33000183    No MI               100213300000112552                   0                                   0              0
    77064           82400       20050901         738.39        82073.69               80    No MI               100350300000434611                   6           20070801            16.25          10.25
    77085           92000       20050901         629.16        91341.12               80    No MI               100350300000408821                   6           20070801           13.275          7.275
    12487          100000       20060101         793.85        99612.86      61.34999847    No MI               100213300000115209                   0                                   0              0
    28213          108900       20060201         889.35          108900               90    No MI               100213300000122643                 5.9           20080101             15.8            9.8
    14216          133950       20060201        1089.86       133660.71               95    No MI               100213300000120670                5.75           20080101           15.125          9.125
    21220          122400       20060201         910.96        122078.1               80    No MI               100213300000120506                 5.9           20080101            14.15           8.15
    33478          357000       20060201        2405.18       355847.82               70    No MI               100213300000116421                   0                                   0              0
    61111          177600       20051201        1070.52       176535.95               80    No MI               100213300000111877                5.75           20071101            12.05           6.05
    45322          138400       20060101         901.17       138198.99               80    No MI               100213300000113196                 5.9           20071201           13.825          7.825
    19601          121500       20050901         887.29       120738.45               90    No MI               100022100148802648                6.75           20070801            13.95           7.95
    14218           82400       20060201         673.41         82157.1               80    No MI               100213300000117494               6.125           20080101           15.175          9.175
    77041           97600       20050901         722.97        97005.22               80    No MI               100350300000377190                   6           20070801             14.1            8.1
    19355          100000       20060401         703.67        99853.03      33.90000153    No MI               100076500000904777                 5.5           20080301           13.565          7.565
    30188          244800       20060301        1578.96          244800               85    No MI               100330706010105311                 5.5           20080201            13.74           7.74
    22192          303300       20060401        1971.45          303300               90    No MI               100031442016010295                 5.5           20080301             13.8            7.8
    84042          117800       20060301         903.13          117800      79.97000122    No MI               0.00E+00                           7.2           20080201             15.2            7.2
    75068          287300       20060401        2470.46       287031.41               85    No MI               10010130060105443                  5.5           20080301            15.76            5.5
    34420          133200       20060501        1000.69       133115.06               90    No MI               100271100000205011                   0                                   0              0
    44264          112000       20060401         974.61       111806.89               70    No MI               0.00E+00                             8           20080301             15.9            9.9
    22707          269950       20060301        2245.31       269537.81      89.98999786    No MI               100031458006011523                 5.5           20080201           15.375          9.375
    41071          123250       20060101         819.16       122737.92               85    No MI               100244400000589990                5.59           20071201            12.99           6.99
    47167           58400       20060201         407.94        58223.75               80    No MI               100244400000592820                6.09           20080101            13.49           7.49
    49265          334050       20060101        2200.06       332636.53               85    No MI               100013703082814841                6.75           20081201             12.9            6.9
    63123          131250       20060101         795.37       130600.48               75    No MI               100013703082813850                   0                                   0              0
    80014          165200       20051228        1234.13       164659.47      76.83999634    No MI               100311010000268368                 4.8           20071128            14.19           8.19
    65605           93500       20051201         669.85        93066.43               85    No MI               100013703082792153                   0                                   0              0
    53215           70000       20051201         472.78        69660.79               56    No MI               100013703082789779                   0                                   0              0
    45238          106000       20051201         834.59       104468.09      70.66999817    No MI               100013703082786965                   0                                   0              0
    21157           78600       20060201         799.43         78505.6               80    No MI               100091510600005694                   0                                   0              0
    63114           48000       20051209          476.9           47336      68.56999969    No MI               100311010000260548                   0                                   0              0
    30622           48000       20060201         439.07         47922.7      77.41999817    No MI               100209900000236313                   0                                   0              0
    19149           85500       20060101         624.39        85205.92               90    No MI               100013703082774581                5.95           20071201            13.95           7.95
    44883           75600       20051201         502.46         75174.6               90    No MI               100244400000582961                   0                                   0              0
    63110           80000       20051101         556.64        79572.28      50.77000046    No MI               100013703082766090                 7.2           20071001            13.45           7.45
    53206           44000       20051007         330.56        43406.64               80    No MI               100013703082764012                   0                                   0              0
    96021           25001       20051201          230.6        24641.55      74.93000031    No MI               100013703082761950                   0                                   0              0
    85345           30000       20051104         257.75        29914.28      83.59999847    No MI               100013703082746381                   0                                   0              0
    98027           50000       20051103         370.37         49799.4      57.58000183    No MI               100013703082742810                   0                                   0              0
    98512           25000       20051002         207.48        24794.08      87.04000092    No MI               100013703082739295                   0                                   0              0
    44121           42000       20051001         333.42        41805.67      84.76999664    No MI               100013703082739113                   0                                   0              0
    85048          345200       20051201        2354.88       343559.62               80    No MI               100013703082737398                   7           20071101            13.25           7.25
    48382           38000       20051002         312.62        37820.93             89.5    No MI               100013703082736895                   0                                   0              0
    63461           19000       20051111         201.86        18714.06             90.5    No MI               100013703082735079                   0                                   0              0
    53210           99000       20051118         606.34        98423.54      53.50999832    No MI               100013703082729395                   0                                   0              0
    60185           35000       20051021         333.31        34910.22      87.83000183    No MI               100013703082728710                   0                                   0              0
    43620           59150       20051205         539.96         57926.7               70    No MI               100244400000585584                   0                                   0              0
    49445           92000       20060101         652.75        91664.49      76.66999817    No MI               100244400000585196                   0                                   0              0
    33625           74100       20051001          609.6        73784.28      84.91999817    No MI               100013703082721111                   0                                   0              0
    85302           50000       20051101          454.7        48435.22      85.58999634    No MI               100013703082720121                   0                                   0              0
    43207           76000       20051119         477.88         75578.1      77.55000305    No MI               100013703082718653                   0                                   0              0
     7666          272000       20051201         2072.2       270956.32               80    No MI               100013703082707847                   0                                   0              0
    93230           20000       20051001         165.99        19916.19      75.40000153    No MI               100013703082692734                   0                                   0              0
    97227          148000       20051001         920.91       146877.44               80    No MI               100013703082689458                5.85           20070901            12.35           6.35
    93306           47000       20051026         351.44        46783.69      61.09000015    No MI               100013703082688385                   0                                   0              0
    56511           73800       20050901         533.83        73221.08               90    No MI               100013703082681356                 7.6           20070801            13.85           7.85
    62040           71600       20050901          503.1        71112.49               80    No MI               100013703082680101                 7.3           20070801            13.55           7.55
    54956          126000       20051101          946.6       125376.84               90    No MI               100013703082679889                   8           20071001            14.25           8.25
    53216          119000       20051101         869.04       118424.01               85    No MI               100013703082677800                 7.7           20071001            13.95           7.95
    76542          109600       20050901         777.63       108871.24               80    No MI               100013703082672280                   0                                   0              0
    98902          121600       20051015         858.59       120968.91               80    No MI               100013703082670797                   0                                   0              0
    32459           18500       20051014         181.09        18131.21               43    No MI               100013703082670532                   0                                   0              0
    24416          140000       20050301         866.57       137952.25               80    No MI               0.00E+00                          6.05           20070201             12.3            6.3
     6112          104000       20060301         727.18          103767      74.29000092    No MI               100102600400500502                   0                                   0              0
    85603          114000       20060301            684          114000               76    No MI               100153220511015585                 5.5           20080201             13.2            7.2
    32606          144000       20060401          832.8          144000      87.26999664    No MI               0.00E+00                           5.5           20080301            12.94           6.94
    97114          148000       20051201         870.83       147702.51               80    No MI               100153210508018437                6.25           20071101           13.075          7.075
    85213          280000       20060301        2104.67          280000      69.13999939    No MI               100153220511020452                   6           20080201            15.02              6
    44827           21000       20060301          232.4        20936.37              100    No MI               100202930512210024                   0                                   0              0
    49017           76000       20060301         657.15        75894.44               80    No MI               100202930512290042                5.75           20080201           15.825           5.75
    30094           21900       20060201         260.96        21824.37              100    No MI               100202930512230154                   0                                   0              0
    95207          306000       20060401        2495.24       305674.78               90    No MI               100258910051215165                 5.5           20080301            15.15           9.15
    23223          146900       20060301        1301.29       146899.99      79.40000153    No MI               100031458006011002                 5.5           20080201            16.63          10.63
    34715          379650       20060301        2981.29       378974.68      84.98999786    No MI               100366000000022224                 6.1           20080201            14.73           8.73
     2155          101000       20060301         983.39       100604.32              100    No MI               100366000000022042                   0                                   0              0
     2155          404000       20060301        2930.68       403161.25               80    No MI               100366000000022034                5.65           20080201            13.88           7.88
     7055           76000       20060301         770.55         75724.6              100    No MI               100366000000022117                   0                                   0              0
     7055          304000       20060301        2226.41       303381.48               80    No MI               100366000000022109                5.65           20080201            13.98           7.98
    12601          292500       20060301        2253.52       292348.36               90    No MI               100366000000021937                5.65           20110201            15.25           9.25
    33838           79200       20060301         661.92        79080.45               90    No MI               100366000000022166                5.65           20080201            15.43           9.43
    33065          249750       20060101         1454.3       248428.69               75    No MI               100366000000020285                   0                                   0              0
     8080          248000       20060201         1444.6          248000      82.66999817    No MI               100360000000021051                5.65           20080101            12.99           6.99
    12590          302000       20060201        2007.19       300999.15      84.83000183    No MI               100366000000019774                   0                                   0              0
    33415          147600       20051201        1101.61       147007.24               90    No MI               100366000000018941                 5.5           20071101            14.18           8.18
     6513          196000       20051101        1122.72       194499.89      75.09999847    No MI               100366000000017679                5.95           20071001            11.58           5.58
    22405          268000       20060301        2079.71       267519.45               80    No MI               100031442016010212                 5.5           20080201             14.6            8.6
    10952          101000       20060301         849.26        97452.74      22.44000053    No MI               1001446-0009743927                 5.5           20080201             15.5            9.5
    19142           76500       20060401          607.3           76412               90    No MI               100124100000020294                 5.5           20080301            14.85           8.85
    19968          394200       20060301        3038.62          394200               90    No MI               100031458006010186                 5.5           20080201            15.25           9.25
    49093           92000       20060301         635.73        91788.92               80    No MI               100330706010103555                 5.5           20080201            13.38           7.38
    85242          184000       20060301         1108.8       183525.57               80    No MI               100404400000017618                 5.5           20080201            13.25           7.25
    85242           46000       20060301         420.78        45944.68              100    No MI               100404400000019556                   0                                   0              0
    96007          211250       20060501         1267.5          211250               65    No MI               100059400000007476                5.75           20080401             13.2            7.2
    49022           52500       20060201         411.14        52376.61      65.62999725    No MI               100202930512050008                   0                                   0              0
    29527          208000       20060301        1764.59        207900.2               80    No MI               100271100000198406                   6           20080201            15.99           9.99
     6615          238000       20060201        1913.29       237473.02               85    No MI               100103100071862660                 7.5           20080101            15.99           8.99
    29483          127920       20060201         952.04       127575.52               80    No MI               100103100071862066                 7.5           20080101            15.15           8.15
    19120           74500       20060201         701.05        74086.46              100    No MI               100103100071861951                 7.5           20080101            17.85          10.85
    11778          200000       20060201        1755.14        197647.8      64.51999664    No MI               100103100071861829                 7.5           20080101               17             10
    34478          123750       20060201        1036.05       123501.01               75    No MI               100103100071861621                 7.5           20080101            16.45           9.45
    11772           77378       20060201         825.82        77297.56              100    No MI               100103100071860888                   0                                   0              0
    11772          309511       20060201        2114.99          309511               80    No MI               100103100071860862                 7.5           20080101             15.2            8.2
    19126          101650       20060201         922.24       101482.75               95    No MI               100103100071859492                 7.5           20080101             17.4           10.4
    19154          154000       20060201        1478.23       153768.41               70    No MI               100103100071859278                 7.5           20080101             18.1           11.1
    48146           99900       20060201         854.63        99709.27      79.98000336    No MI               100103100071858544                 7.5           20080101             16.7            9.7
    22554          118000       20060201        1101.51       117819.89              100    No MI               100103100071858429                   0                                   0              0
    19425          208675       20060201        1530.28          208675               85    No MI               100103100071858346                 7.5           20080101             15.8            8.8
    19144           84128       20060201         728.98        83972.39               90    No MI               100103100071858296                 7.5           20080101            16.85           9.85
    11701           61200       20060201         582.82        61111.51              100    No MI               100103100071857520                   0                                   0              0
    11701          244800       20060201         1662.6          244800               80    No MI               100103100071857504                 7.5           20080101            15.15           8.15
    37604          279100       20060201        2290.95          279100      79.98999786    No MI               100103100071856787                 7.5           20080101            16.85           9.85
     6611           86000       20060201            819        85834.26              100    No MI               100103100071855730                   0                                   0              0
    12972          148000       20060201        1309.76       147740.37               80    No MI               100103100071855532                 7.5           20080101             17.1           10.1
    19030          245000       20060201        1918.67        244424.1      79.93000031    No MI               100103100071855508                 7.5           20080101             15.7            8.7
    48219          114000       20060201        1085.65       113769.26              100    No MI               100103100071855359                 7.5           20080101               18             11
    71203           57600       20060201          531.2         57509.2               90    No MI               100103100071854899                 7.5           20080101             17.6           10.6
    21046          220000       20060201        1585.83          220000               80    No MI               100103100071854667                   7           20080101            15.65           8.65
    65301          216325       20060101        1766.65          216325               85    No MI               100103100071854196                 7.5           20071201             16.8            9.8
    11706           75200       20060201         716.15        75091.25              100    No MI               100103100071853552                   0                                   0              0
    11706          300750       20060201        2042.59          300750               80    No MI               100103100071853545                 7.5           20080101            15.15           8.15
    11717           68000       20060101         647.58        67876.52              100    No MI               100103100071853511                   0                                   0              0
    11717          272000       20060101        1847.33          272000               80    No MI               100103100071853503                 7.5           20071201            15.15           8.15
    21222          182700       20060201         1664.4       182402.59               90    No MI               100103100071851838                 6.5           20080101            17.45          10.45
    23188          198400       20060202        1610.67       198079.17               80    No MI               100103100071850236                 7.5           20080102             16.1            9.1
    29468          102090       20060201          749.1       101808.39               83    No MI               100103100071850145                 7.5           20080101               15              8
    23805          145600       20060101         939.52       144959.96               80    No MI               100103100071848826                   0                                   0              0
    11434          109000       20060101        1038.03       108802.09              100    No MI               100103100071846796                   0                                   0              0
    11434          436000       20060101        2525.17          436000               80    No MI               100103100071845830                6.85           20071201            13.95           6.95
    17314           38980       20060101         371.22         38909.2              100    No MI               100103100071844981                   0                                   0              0
    17314          155920       20060101        1133.23       155379.13               80    No MI               100103100071844965                   0                                   0              0
    29456           40100       20060101         413.91        39864.08              100    No MI               100103100071844734                   0                                   0              0
    29456          160400       20060101        1188.16       159865.53               80    No MI               100103100071844726                 7.5           20071201             15.1            8.1
    19150           80750       20051201         729.61         80546.8               85    No MI               100103100071843678                 7.5           20071101            17.35          10.35
     7112          242000       20060201        2405.74       241689.59              100    No MI               100103100071843140                 7.5           20080101            18.55          11.55
    12303          100000       20060101         725.07        99651.36               80    No MI               100103100071842613                 7.5           20071201           14.875          7.875
    17701           36000       20060101         342.84         35934.6              100    No MI               100103100071841771                   0                                   0              0
    17701          144000       20060101            930          144000               80    No MI               100103100071841763                 7.5           20071201            14.75           7.75
    17754          161500       20060101        1322.77       161070.45               85    No MI               100103100071839635                 7.5           20081201             16.2            9.2
     3076          320000       20051201        1730.04       319392.75               80    No MI               100103100071839064                   0                                   0              0
     8059          180000       20051201        1222.31       179971.43               90    No MI               100103100071838488                 7.5           20081101            15.15           8.15
    28262          104000       20051201            650          104000               80    No MI               100103100071838330                 7.4           20071101             14.5            7.5
    95815          225250       20060101        1858.31       225249.52               85    No MI               100103100071836789                 7.5           20071201             16.9            9.9
     2891          248000       20051201           1302          248000               80    No MI               100103100071836615                 6.2           20081101             13.3            6.3
    19148          138750       20051201         963.04       138113.07               75    No MI               1001031-0007183622               7.325           20081101           14.425          7.425
    19702          160000       20060101        1080.65       159355.77               80    No MI               100103100071835781                7.05           20071201            14.15           7.15
    29928          318750       20051201        2530.41       317652.16               75    No MI               100103100007183453                 7.5           20081101            15.85           8.85
    33322          157250       20051201        1145.63       156596.56               85    No MI               100103100071833786                 7.5           20081101           14.925          7.925
    14094           40450       20060201         359.47         40379.8      89.88999939    No MI               100103100071833620                 7.5           20080101            17.15          10.15
     8609          115000       20060201        1135.19       114956.31              100    No MI               100103100071829479                 7.5           20080101            18.85          11.85
    93312          328000       20060101        2378.23       326735.97               80    No MI               100062700499900353               7.625           20071201           14.875          7.625
    89502          279000       20060101           1860          279000               90    No MI               100062700499900320                7.75           20071201               15           7.75
    93312          225400       20060201        1653.91       224788.95               70    No MI               100062700451906364                7.75           20080101               15           7.75
    93306          198000       20060101        1420.89       197689.18               90    No MI               100062700451905861               8.375           20071201           15.625          8.375
    93307           85500       20060101         547.47        85118.61      61.06999969    No MI               100062700451903882               6.375           20071201           13.625          6.375
    80022           45552       20060201          503.9        45483.25              100    No MI               100062700451702136                   0                                   0              0
    80022          182209       20060201        1271.47       182180.47               80    No MI               100062700451702128               8.125           20080101           15.375          8.125
    80018          260497       20060101        1980.86          260497               90    No MI               100062700451701344               8.875           20071201           16.125          8.875
    89408           46667       20060101         475.54        46596.51              100    No MI               100062700451004558                   0                                   0              0
    89408          186669       20060101        1289.28          185950               80    No MI               100062700451004541               7.125           20071201           14.375          7.125
    92345          260300       20060201        1952.25          260300               95    No MI               100062700450802341                8.75           20080101               16           8.75
    71201           22200       20060201         209.32        22167.02              100    No MI               100062700450705148                   0                                   0              0
    71201           88800       20060201          536.5           88800               80    No MI               100062700450705130                   7           20080101            14.25              7
    90745          300000       20060101           1750          300000               75    No MI               100062700450704836                6.75           20071201               14           6.75
    90260          109800       20051201        1024.96       109546.35              100    No MI               100062700450704380                   0                                   0              0
    90260          439200       20051201        2699.25          439200               80    No MI               100062700450704372               7.125           20071101           14.375          7.125
    70363           97000       20060201         869.22        96835.18      88.18000031    No MI               100062700450504780                  10           20080101            17.25             10
    91304          210000       20060101        1421.87          210000      38.88999939    No MI               100062700450202955               7.875           20071201           15.125          7.875
    90047          100000       20060101           1019        99495.43              100    No MI               100062700450107212                   0                                   0              0
    90047          400000       20060101        2666.44       399966.44               80    No MI               100062700450107204                7.75           20071201               15           7.75
    90059          292000       20060101        1855.42          292000               80    No MI               100062700450106958               7.375           20071201           14.625          7.375
    91344          580000       20060101        3322.92          580000      77.33000183    No MI               100062700450106180               6.625           20071201           13.875          6.625
    90744           97000       20060101         905.48        96814.09              100    No MI               100062700450105778                   0                                   0              0
    90744          388000       20060101        2465.42          388000               80    No MI               100062700450105760               7.375           20071201           14.625          7.375
    90059          196000       20050701        1184.07       195983.67               80    No MI               100062700450100860                   7           20080601            13.25              7
    20781          210000       20060101        1093.75          210000      77.77999878    No MI               100062700313404160                   6           20071201            13.25              6
    20707          243000       20060201        1468.12          243000               90    No MI               100062700313012286                   7           20080101            14.25              7
    20851          285600       20060201           1785          285600               80    No MI               100062700312605593                7.25           20080101             14.5           7.25
    20857           71400       20060201          755.1        71323.68              100    No MI               100062700312605593                   0                                   0              0
    20782           71380       20060101         727.36        71272.93              100    No MI               100062700312605551                   0                                   0              0
    20782          285520       20060101        1725.02          285520               80    No MI               100062700312605544                   7           20071201            14.25              7
    20735          253300       20060101         1451.2          253300               85    No MI               100062700312038803               6.625           20071201           13.875          6.625
    20602          258400       20060101        1641.92          258400               80    No MI               100062700311810905               7.375           20071201           14.625          7.375
    70737          157000       20051201        1235.12       156448.05      84.86000061    No MI               100062700310711609                 8.5           20071101            15.75            8.5
    22728          335750       20060201        2588.07          335750               85    No MI               100062700310711328                   9           20080101            16.25              9
    36507           31000       20050701         298.15        30876.06              100    No MI               100062700310709538                   0                                   0              0
    36507          124000       20050701         824.98       122848.68               80    No MI               100062700310709397                6.75           20070601               14           6.75
    22312          223500       20060201        1698.76       222938.48             74.5    No MI               100062700310349368               8.125           20080101           15.375          8.125
    20748          171000       20060101         996.19          170775      77.73000336    No MI               100062700310348634                6.75           20071201               14           6.75
    22192          256000       20060101        1546.67          256000               80    No MI               100062700310348428                   7           20071201            14.25              7
    22192           64000       20060101         633.79        63895.74              100    No MI               100062700310348410                   0                                   0              0
    22193          499000       20060101        2546.98          499000      68.91999817    No MI               100062700310250269               5.875           20081201           12.125          5.875
    19901           68624       20060101         589.59        68461.28              100    No MI               100062700310124613                   0                                   0              0
    19901          274495       20060101        1629.79        274491.5               80    No MI               100062700310124555               6.875           20071201           14.125          6.875
    20009          349000       20060101        2072.19          349000      74.97000122    No MI               100062701323210696               6.875           20071201           14.125          6.875
    48197          189000       20060101        1397.81          189000               90    No MI               100062701320340439               8.625           20071201           15.875          8.625
    33410          391000       20060101        2973.23          391000               85    No MI               100062701320338060               8.875           20071201           16.125          8.875
    32137          166600       20060201         1023.9          166600               85    No MI               100062701320336643               7.125           20080101           14.375          7.125
    37035           92700       20060201         696.42        92457.46               90    No MI               100062713203339529                   8           20080101            15.25              8
    71913          369900       20060101         2714.2       368642.34               90    No MI               100062701320333673                   0                                   0              0
    45036           84000       20060101         808.82        82783.28               70    No MI               100062701320330596                   0                                   0              0
    49428          151920       20060101        1088.37       151376.93               80    No MI               100062701320328376                 7.5           20071201            14.75            7.5
    33063          190000       20060101        1365.37       189964.38      61.88999939    No MI               100062701320324375               8.375           20071201           15.625          8.375
    37030           55200       20051001         395.46        54881.19               80    No MI               100062701320317056                 7.5           20070901            14.75            7.5
    77571          114000       20060101         816.71       113592.47               80    No MI               100062700121566853                 7.5           20071201            14.75            7.5
    33470           69980       20060101         607.67        69784.99              100    No MI               100062700121565731                   0                                   0              0
    33470          279920       20060101        1516.21       279916.21               80    No MI               100062700121565715                6.25           20071201             13.5           6.25
    29412           23980       20051201         228.35         23927.5              100    No MI               100062700121565632                   0                                   0              0
    29412           95920       20051201         659.45           95920               80    No MI               100062700121565616                   8           20071101            15.25              8
    56374           39580       20060201         352.06        39511.47              100    No MI               100062701215169463                   0                                   0              0
    56374          158320       20060201        1038.98          158320               80    No MI               100062701215169448               7.625           20080101           14.875          7.625
    56425           37800       20060201         336.23        37720.42              100    No MI               100062701215169240                   0                                   0              0
    56425          151200       20060201         929.12       151179.12               80    No MI               100062701215169224               7.125           20080101           14.375          7.125
    33610          153000       20060201        1051.88          153000               85    No MI               100062701215166527                   8           20080101            15.25              8
    33904          175000       20060201        1253.72       174501.15               70    No MI               100062701215165347                   0                                   0              0
    80214          157500       20060101        1115.62          157500               90    No MI               100062701215160306                8.25           20071201             15.5           8.25
    38109           57500       20060201         488.74         57388.5              100    No MI               100062701215160009               9.375           20080101           16.625          9.375
    55434          184000       20060101        1239.64       183116.75               80    No MI               100062701215158789               6.875           20071201           14.125          6.875
    48504           62000       20060201         590.39        61910.34              100    No MI               100062701215158284               7.875           20080101           17.999          7.875
    55448           42291       20060101         367.73        42193.68              100    No MI               100062701215158185                   0                                   0              0
    55448          169165       20060101         969.17          169165               80    No MI               100062701215158169               6.625           20071201           13.875          6.625
    89121          177600       20060101         1571.6       174704.61               80    No MI               100062701215157344                   0                                   0              0
    55419           44180       20060101         384.16        44075.72              100    No MI               100062701215156569                   0                                   0              0
    55419          176720       20060101        1049.26       176717.81               80    No MI               100062701215156544               6.875           20071201           14.125          6.875
    81003          120000       20060101          862.5          120000      94.48999786    No MI               100062701215151743               8.375           20071201           15.625          8.375
    55434          243000       20060101        1518.75          243000               90    No MI               100062701215151586                7.25           20071201             14.5           7.25
    55419          220000       20060101        1260.42          220000               80    No MI               100062701215150620               6.625           20081201           12.875          6.625
    48224           82720       20051101         611.06        82622.15               95    No MI               100062701215131406               8.625           20071001           15.875          8.625
    80134           60600       20060101         623.29        60511.55              100    No MI               100062701215107166                   0                                   0              0
    80134          242400       20060101         1413.8          242400               80    No MI               100062701215107141               6.749           20071201           13.999          6.749
    32780          136000       20060201          835.8       135994.11               85    No MI               100062700113500522               7.125           20080101           14.375          7.125
    27284          120000       20060101         870.08       119581.64               80    No MI               100062700113300519               7.625           20071201           14.875          7.625
    33853          151050       20060201        1164.34          151050               95    No MI               100062700113007478                   9           20080101            16.25              9
    33070          350000       20060101        2358.01       348583.86               70    No MI               100062700113007445               6.875           20071201           14.125          6.875
    33584           42000       20060101         427.98        41936.96              100    No MI               100062700112903545                   0                                   0              0
    33572          296099       20060101        2159.06          296099               95    No MI               100062700112902844                 8.5           20071201            15.75            8.5
    33584          168000       20060101         1102.5        167999.5               80    No MI               100062700112901754               7.625           20071201           14.875          7.625
    33617          157500       20060201        1169.43       157083.68               90    No MI               100062700112803893                   0                                   0              0
    34685          189719       20060101        1501.94          189719               85    No MI               100062700112803463                9.25           20071201             16.5           9.25
    34491           92400       20060101         718.68        92123.28      54.38000107    No MI               100062700111902282                   0                                   0              0
    34209          171000       20060101        1269.67       170412.54               95    No MI               100062700111608921                   0                                   0              0
    33584          148410       20060101        1035.78          148410               90    No MI               100062700110953120               8.125           20071201           15.375          8.125
    33709          171000       20060201        1193.39       170993.44               90    No MI               100062700110952619               8.125           20080101           15.375          8.125
    34667           27400       20060201         266.13        27362.46              100    No MI               100062700110952528                   0                                   0              0
    34667          109600       20060201         650.75          109600               80    No MI               100062700110952510               6.875           20090101           13.125          6.875
    33549          155200       20060101         937.67          155200               80    No MI               100062700110952403                   7           20071201            14.25              7
    34736          178525       20060101         1341.2       177947.93      71.83000183    No MI               100062700110430889                   8           20071201            15.25              8
    34748          230975       20060201        1921.13       230502.95               85    No MI               100062700110428156               9.125           20080101           16.375          9.125
    33991          251250       20060101         1491.8          251250      99.30999756    No MI               100062700110248471               6.875           20071201           14.125          6.875
    32801           69700       20060201         631.07        69584.69              100    No MI               100062701101120018                   0                                   0              0
    32801          278800       20060201        1974.83          278800               80    No MI               100062701101120000                8.25           20080101             15.5           8.25
    30071          121500       20060201        1103.24       121300.48               90    No MI               100148700000158119                 5.5           20080101            16.41          10.41
    95820          216000       20060301         1378.8          216000      80.90000153    No MI               100059400000006486                 5.5           20080201            13.66           7.66
    76132          138902       20060101         916.67       138316.96               80    No MI               100404400000006512                   0                                   0              0
    60655          213350       20051101        1716.67        212515.6      85.33999634    No MI               100180100002815460                 5.7           20071001               16              9
    76249          110233       20060101         718.64       109757.73               80    No MI               100404409050708174                 5.5           20071201             12.8            6.8
    45230           28400       20050701         297.79        28033.63              100    No MI               100175200002349689                   0                                   0              0

     ZIP_       PER_  DEAL_INFO     HYBRID_          PREPAY          LIEN              BALLOON             AMORT_     IO_FLAG     IO_PERIOD       SELLER
     CODE      RATE_                TERM                                                                    TERM1
                 CAP
    70601          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    70737          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    39232          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32738          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48134          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    47250          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32720          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    45230          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    49347          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33056          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77058          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    44431          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    76002          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    92504          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    92504          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78213          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          EMC
    78213          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34759          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    34759          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    34759          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    38118          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    40219          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    48911          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32839          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32043          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43227          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43130          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43130          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43081          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43219          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    23464          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46072          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    28469          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    93535          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    29445          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    46410          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    45402          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    72345          0    GROUP I         OTH             Yes          First Lien        No                     240     NO          NON-IO          EMC
    43068          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48205          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     6360          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32837          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    33785          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48206          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32641          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    20744          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    48322          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46203          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46303          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48220          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48428          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    46617          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46226          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    46226          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46052          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    99212          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    99212          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    47024          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46205          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    70460          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    83201          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    23223          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    78242          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    17110          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    29445          0    GROUP I         OTH             No           Second Lien       No                     180     NO          NON-IO          EMC
    29445          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    90746          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    29229          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    36274          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    23803          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    32119          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30331          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    27707          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    32818          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30126          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33056          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45426          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    45426          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63121          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92252          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    45417          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    43609          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    43609          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63113          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21801          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30022          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32208          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33331          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    71104          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30308          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     6704          0    GROUP I         OTH             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    33321          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    64130          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    49327          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33305          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93535          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45405          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20774          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    30236          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30043          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30060          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    45406          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30152          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    30152          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    30354          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30458          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30630          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20748          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    30281          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30601          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    20705          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    36054          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78244          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78244          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    71101          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34473          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78250          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    35810          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30281          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60156          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    21040          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    77053          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33178          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    30034          1    GROUP I         5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20746          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    43351          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30127          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    42129          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    31801          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30013          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    27954          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    46323          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    48458          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    86401          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85226          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22712          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    45044          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
     7631          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    93304          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    23505          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    23505          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    63109          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55412          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33615          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    98632        1.5    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
     2914          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    95820          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    33844          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    33844          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    89148          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85304          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    95682          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    22630          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    22602          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    85302          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    45240          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33024          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46410          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    22406          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32257          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    36303          1    GROUP I         3YR             No           First Lien        No                     360     NO          NON-IO          EMC
    33167          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46060          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43205          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    37302          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30288          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    45356          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43203          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19344          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
     8081          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     2886          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78228          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    46203          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22172          1    GROUP I         2YR             No           First Lien        No                     360     YES         10 YEARS        EMC
    91766          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    28677          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    75965          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    75965          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    95758          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    95758          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    29323          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    78260          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33063          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    30540          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    29680          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    78641          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    48206          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78641          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    60120          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    40214          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77092          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    64055          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48205          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48075          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78227          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          EMC
    78227          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22204          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    85029          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33901          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    61231          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    19129          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    17110          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    94509          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    23513          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30088          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    32725          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    63135          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55404        1.5    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    98422        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    97304          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    97304        1.5    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33322        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    29302          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    81525        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91762        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90037        1.5    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92545        1.5    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    84020        1.5    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    92553        1.5    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    92114        1.5    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85017        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93722        1.5    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    85225        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    85033        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90640        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    32333        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    89134        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    89146          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    89123          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    89142          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90062          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91324          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90746          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    90808          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92392          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    90044          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90061          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90638          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90045          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90241          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    59105          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    98516          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    99005          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    59803          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    83642          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    98270          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    59865          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    98374          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    98271          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    83634          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    99207          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    97233          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    50320          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    62294          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    65274          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    68112          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    51521          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    63010          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63846          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    67735          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    67216          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    68467          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    67005          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    64504          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    66202          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63123          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    50702          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    52402          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    63118          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63121          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    64130          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    64130          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    50440          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    68137          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    50472          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    63112          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    64109          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    64110          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    66102          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    63107          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85044          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    81223          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85032          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85259          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85040          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85323          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85053          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    85239          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    86326          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85239          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    84044          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80021          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80122          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    80102          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80403          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80465          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90810          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80211          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    84120          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33172          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    80526          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    81089          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    80534          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    80221          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    80214          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92116          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91915          2    GROUP I         5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92083          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    85742          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92139          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93651          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92024          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    93610          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92562          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95991          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92308          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    93906          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60647          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    95670          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    95111          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    93703          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    95212          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92109          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    94566          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    91351          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92114          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    93612          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92021          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    93309          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    93635          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    93705          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    95122          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92101          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    92586          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92065          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92503          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    71033          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    34222          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    98271          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    74601          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    67206          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    50273          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    64064          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    66102          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    66762          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    50438          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    63851          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    72903          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    50112          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    75569          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    72401          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    50401          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    50167          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    65786          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    41005          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    97305          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    74070          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33021          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    75020          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    50242          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    61071          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    95965          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    76116          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    67460          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63010          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    52748          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    64132          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    98532          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    74954          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    98003          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    67016          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    72644          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85032          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    63701          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    75048          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    76137          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75088          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75189          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    37716          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    67401          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    38109          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75062          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    76201          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    37207          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    37920          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    76137          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78219          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    71270          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    37721          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75088          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    39046          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    70392          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    75219          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    75209          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78208          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    38829          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    37923          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    39503          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    74128          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77338          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77662          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77373          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77433          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    29456          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    76549          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78559          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75979          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77015          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78521          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78526          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78539          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78550          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77318          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77063          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77520          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77494          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    72118          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    44354          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77449          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32446          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77479          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    70420          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77373          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77067          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78229          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77084          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    64742          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75216          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    75216          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    33705          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33025          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33312          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33563          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33604          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34746          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33755          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33067          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    33309          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    32809          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    33311          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    30052          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    28570          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    31750          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30094          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    27105          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    30038          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    31030          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    27106          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    38109          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    30035          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    31217          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    31510          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30354          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30175          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    31535          0    GROUP II        OTH             Yes          First Lien        Yes                    360     NO          NON-IO          MASTER
    28073          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    28081          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    30087          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    30058          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30108          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    29115          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30349          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30294          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    30296          1    GROUP I         3YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    30088          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    30296          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
     1752          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2301          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7052          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     3801          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     7205          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     4496          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60104          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    48342          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60087          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    48235          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    48198          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60047          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    60505          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    61350          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60134          1    GROUP I         3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60409          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60441          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55043          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    46327          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60649          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55443          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60477          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60459          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    48017          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    58102          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    53216          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60540          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60181          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    60194          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    60621          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    55416          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60142          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    48203          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    48353          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    63857          0    GROUP II        OTH             Yes          First Lien        No                     240     NO          NON-IO          EMC
    60624          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60181          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    20748          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20784          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    22602          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    24112          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    22405          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    17602          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    17327          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21214          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    19041          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    20724          1    GROUP I         3YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    90650          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90606          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90706          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92307          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91764          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    94547          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92683          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    95824          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92563          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92865          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92691          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92081          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92509          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    92555          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    95254          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90650          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92845          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    98568          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    91702          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92509          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    91401          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92345          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92335          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    23453          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    29407          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     7106          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
     7106          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    11226          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    11226          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    10701          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    11692          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    11692          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    11428          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    11428          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    11798          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2478          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2131          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    74467          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    73501          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    73505          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77566          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78204          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    76548          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85716          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    98902          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    98902          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95831          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    95831          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95621          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    84065          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    84065          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    92586          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95621          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95301          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    94509          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    91739          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80249          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    93505          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    93505          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    91352          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    91352          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    85308          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85710          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    85710          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    89031          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85219          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    94533          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    92405          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    85301          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85041          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    97007          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    97007          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95677          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    90305          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    89044          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    89123          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    85008          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    80631          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    93535          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    93535          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    98942          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    92251          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    92251          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95677          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    93245          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95747          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    95747          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92308          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91710          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95127          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95678          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95678          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90710          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    90710          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95758          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    95758          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93536          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    93536          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92336          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    92336          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    90047          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95348          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91702          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    94546          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    94546          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    84404          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    84404          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95824          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91605          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    91605          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    95206          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21146          1    GROUP I         2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    20784          1    GROUP I         2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    20785          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    20774          1    GROUP I         2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    21649          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    21229          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    20636          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    21206          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    23451          1    GROUP I         2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    22712          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    23464          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    23518          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    23518          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    23701          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    29485          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    29577          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    29455          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    29010          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    11722          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    29418          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    29006          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    28215          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    28704          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    28352          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    30363          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    30273          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    30281          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33185          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85032          0    GROUP I         OTH             Yes          Second Lien       No                     180     YES         5 YEARS         EMC
    33772          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    33060          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33071          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    34434          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    32703          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    32825          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    32828          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    33936          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    32208          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     8005          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
     7063          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7306          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7050          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
     7106          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7206          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7036          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
     7305          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7728          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7112          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    44130          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45806          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    43932          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    43720          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    43055          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    43933          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19124          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19151          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    11207          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    11798          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    13501          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    11722          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    10469          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    10467          0    GROUP II        OTH             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    11550          1    GROUP I         2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    11205          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     1104          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     1104          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
     2122          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
     2122          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
     1108          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
     2330          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6248          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6704          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
     6608          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2905          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
     2905          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2888          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2908          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2888          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
     2908          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
     2908          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    51640          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    51640          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    54728          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    48220          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    55106          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    55117          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    72764          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    72764          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    38116          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    37086          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    37086          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    37769          0    GROUP I         OTH             Yes          Second Lien       No                     180     NO          NON-IO          EMC
    38343          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    38343          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    39540          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    39482          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    39194          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    35404          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    36606          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    36541          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    64060          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63033          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    64030          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    64030          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    74403          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    38860          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    73098          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    74501          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    74055          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    74501          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    74501          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    74403          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    74432          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    74464          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    73119          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    73013          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    73505          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    73132          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    73505          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    73507          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75069          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    78640          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    77566          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77379          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75115          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    93219          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93305          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93215          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95632          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    90037          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90201          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95640          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    90023          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90501          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    92503          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    92583          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92555          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    91911          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    92551          1    GROUP I         5YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    91768          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    90011          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    90011          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93555          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    88101          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    88101          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    80108          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    84062          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    84119          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    84119          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    84604          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    84103          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85746          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85747          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85032          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85745          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    86401          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    85706          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    86401          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    99504          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    99504          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    99503          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    99503          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    99508          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    99508          1    GROUP I         2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    99518          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    99518          1    GROUP I         2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    99654          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    99654          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    99516          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    99515          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    99516          1    GROUP I         3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    59047          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    59072          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          MASTER
    59834          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    59102          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    83406          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    83350          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    96706          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    98683          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    98683          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    99216          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    98682          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    97388          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    97233          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    97535          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    97224          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    97058          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          MASTER
    97478          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    97002          1    GROUP II        2YR             No           First Lien        Yes                    480     NO          NON-IO          MASTER
    97236          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    32809          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    40160          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19061          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19008          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43123          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    20866          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85202          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22554          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
     8087          1    GROUP II        2YR             No           First Lien        No                     360     YES         10 YEARS        EMC
     7067          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    19050          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    86326          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    86326          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32907          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    29853          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85302          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    39204          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    39204          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92683          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85308          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
     8021          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
     8021          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    49022          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    49022          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    20866          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    33904          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    33904          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    45764          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    41042          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    43227          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    41042          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    44320          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    43130          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    43130          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43022          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    43022          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    23320          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    49058          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    49058          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    98223          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22514          0    GROUP I         OTH             No           Second Lien       No                     360     YES         10 YEARS        EMC
    22514          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    60060          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     1504          1    GROUP II        3YR             No           First Lien        No                     240     NO          NON-IO          MASTER
    61523          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    80220          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90605          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55439          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60639          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    95843          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60120          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6040          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95814          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    55919          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60048          1    GROUP II        5YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33065          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     2893          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    90805          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95758          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60628          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    20602          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33411          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     2909          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2915          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    61111          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60002          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    94603          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20772          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6460          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91754          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60565          1    GROUP II        5YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    20774          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20601          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    60430          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20744          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20743          1    GROUP II        5YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60586          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60639          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    94577          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55433          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93041          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    20708          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2864          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     6082          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     6280          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60643          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2770          1    GROUP II        5YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6339          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92503          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2817          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91722          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2645          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91311          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    32713          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90220          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55024          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92878          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55376          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2818          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    90044          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90650          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95363          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90001          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1982          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60010          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55117          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91748          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33175          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1702          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91722          1    GROUP II        2YR             Yes          First Lien        No                     180     NO          NON-IO          MASTER
    55127          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55443          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55069          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2368          1    GROUP II        5YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91342          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91335          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33407          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60050          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91748          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60607          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     1077          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    93552          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60103          1    GROUP II        5YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    92307          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     6516          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    90302          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21209          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20743          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91740          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55371          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91104          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95240          1    GROUP II        5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93536          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60074          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33150          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         3 YEARS         MASTER
    33441          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33063          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90745          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     2451          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    92117          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55024          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60558          1    GROUP I         5YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
     1201          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2804          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60073          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55068          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95307          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20740          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33312          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55316          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21207          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    80537          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20747          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90221          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60085          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     6605          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     6320          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60101          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92553          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60609          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60041          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2808          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60623          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91977          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92404          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90019          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2891          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60630          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    55128          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33060          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91605          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55318          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21012          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55060          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91792          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91326          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55355          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     6513          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92345          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55128          1    GROUP II        5YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60645          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92831          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91945          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    56345          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60435          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55315          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
     1364          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     2904          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90601          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56560          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    94514          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33161          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92557          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90501          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55024          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93591          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55056          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55069          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     2124          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55055          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21643          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    56560          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21774          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     1364          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60636          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60628          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2861          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90746          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91352          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55406          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    56551          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21244          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92841          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55337          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21229          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2364          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    95842          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    90062          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60618          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    80010          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60192          1    GROUP I         3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
     1507          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21113          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60133          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91106          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93552          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20602          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21229          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    60074          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55433          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    94518          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90503          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55040          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33311          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91977          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91331          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60459          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90601          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60652          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55109          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33073          1    GROUP II        5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55119          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91744          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56338          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55906          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60101          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92530          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55441          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91792          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55412          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20747          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90706          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95822          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55398          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20744          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2149          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60647          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60018          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55119          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91754          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56662          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33028          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33953          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     6255          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60192          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6513          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1752          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    90037          1    GROUP I         5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91748          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60416          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55420          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21617          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92508          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1462          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21236          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     1752          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    55810          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21207          1    GROUP II        5YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60504          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20743          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33309          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33351          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60640          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55375          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55117          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20716          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    94509          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20772          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60652          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    95206          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60634          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60647          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60068          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21229          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21224          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21221          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21144          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    61081          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55076          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1056          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90805          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92113          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95667          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21206          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92054          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33411          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95203          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91766          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55301          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1501          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92840          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2889          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    90602          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92313          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55075          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60073          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20744          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    55426          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90002          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60605          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92557          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33023          1    GROUP II        5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95204          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92335          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33147          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60471          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21040          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60563          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91767          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80138          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90805          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91001          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92530          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55107          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60015          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55311          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21215          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20634          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60626          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33445          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55448          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    94520          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33024          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21801          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    94509          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     6511          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20602          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55443          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1020          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20634          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60425          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55448          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92397          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2893          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90022          1    GROUP I         5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     6384          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20746          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60126          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91436          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90018          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92503          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21224          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60651          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6484          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21093          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    80233          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    80232          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2368          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60617          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    56062          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21152          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2816          1    GROUP II        5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92397          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55128          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60440          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    95824          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21660          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92544          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2895          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91791          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95207          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55112          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91744          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20744          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90220          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92553          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92557          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91345          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     2865          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90241          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20772          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20720          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20707          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     1603          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91762          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60656          1    GROUP II        5YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92503          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92886          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21122          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60445          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91763          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56303          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92376          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33018          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55106          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20785          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     1075          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33323          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55441          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20735          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55376          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21236          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
     2421          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91913          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92114          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91723          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    94536          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91942          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21224          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    95605          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20747          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    94806          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     2859          1    GROUP II        2YR             Yes          First Lien        No                     240     NO          NON-IO          MASTER
     2771          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55429          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20774          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    80128          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80020          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    21225          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    80020          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33467          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55337          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     2831          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55337          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1109          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20705          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    95843          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91764          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95351          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55904          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60020          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55304          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60015          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    92107          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92831          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55118          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60195          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    92154          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92020          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60430          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91744          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60445          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21222          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91915          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    90016          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95330          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90712          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55079          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55044          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33165          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21236          1    GROUP II        5YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55411          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90019          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90660          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91746          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91010          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55803          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2861          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     1085          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55110          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    94565          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20744          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    55066          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92551          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56283          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21222          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21046          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    94509          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    94547          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92027          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    55436          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21102          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    95240          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60634          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91733          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55009          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55118          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33411          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    33066          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    20774          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    60641          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
     1119          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    92114          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21702          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21207          0    GROUP II        OTH             No           First Lien        No                     180     NO          NON-IO          MASTER
    92544          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93535          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60612          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     6108          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21244          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33313          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55411          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33026          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     6517          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     2889          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60046          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    20785          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
     2885          1    GROUP II        2YR             No           First Lien        No                     240     NO          NON-IO          MASTER
     2842          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    21061          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     1841          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    91790          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90620          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     6515          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    95605          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56368          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55423          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    95841          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91803          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21801          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    80015          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          MASTER
     2125          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    33462          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21804          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    55060          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60651          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21649          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    93550          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20772          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    20747          0    GROUP II        OTH             No           First Lien        No                     360     YES         5 YEARS         MASTER
    91501          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55304          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     6360          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33024          1    GROUP II        5YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    61032          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    33411          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    61032          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    55082          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33068          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60107          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    55418          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95219          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    61032          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    55731          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21213          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    55364          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90305          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33018          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    80615          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92802          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    32065          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    60085          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    60047          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55107          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     2368          1    GROUP II        3YR             No           First Lien        No                     360     NO          NON-IO          EMC
    60523          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     1540          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90805          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33313          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21740          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    80601          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56011          0    GROUP II        OTH             Yes          First Lien        No                     240     NO          NON-IO          MASTER
    21655          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
     1950          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    60099          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    34711          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    60805          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    55311          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60085          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    90303          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     1108          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33311          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20639          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    20743          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60411          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    56031          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55009          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    90222          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    56007          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    80211          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60440          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    55420          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55443          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33010          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95210          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     6437          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92026          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55418          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55021          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    80129          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55316          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     1420          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    92154          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    95240          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60901          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    55040          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92656          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60609          0    GROUP II        OTH             No           First Lien        No                     360     YES         5 YEARS         EMC
    56537          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60060          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    91977          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    95368          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
     1022          0    GROUP II        OTH             No           First Lien        No                     360     YES         5 YEARS         EMC
    91103          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55029          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    92544          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21012          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    95667          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    55987          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    94544          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92563          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60099          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    91792          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    95602          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92865          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    33060          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    91745          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60060          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    95683          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92154          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    21085          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    55074          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60193          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    60429          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    20716          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    90040          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91040          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    21075          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    92592          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
     2886          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          EMC
    21230          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    92057          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92880          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    91977          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33142          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91911          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92114          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21133          0    GROUP II        OTH             No           First Lien        No                     180     NO          NON-IO          EMC
    55126          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    93550          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    80013          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60804          0    GROUP II        OTH             No           First Lien        No                     360     YES         5 YEARS         EMC
    94124          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60073          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    33028          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    92530          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    60091          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    91791          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
     2453          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
     1521          1    GROUP II        3YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    20191          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    43082          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    20743          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    43229          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20012          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    27295          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19805          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    27615          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20011          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21227          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    44107          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    17402          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    17402          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    22968          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    15108          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    28711          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92557          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    93535          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33178          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33024          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    33012          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    33144          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93535          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34953          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19141          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    94806          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    36608          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    33143          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    19146          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45255          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19138          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33417          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19128          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    56452          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    56452          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33138          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    33138          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    56452          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93550          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    95963          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92220          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93436          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85037          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91701          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    91701          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    93550          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    32413          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    93535          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    32301          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    91351          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92707          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    92707          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91350          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93552          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    92832          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93535          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    90018          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77064          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77581          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    77084          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    77084          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77581          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77004          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    77004          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77006          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    77006          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    75038          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77389          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    77389          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75021          1    GROUP I         3YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    85323        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77494          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    63136        1.5    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    75229        1.5    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    76048          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    76048        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77429          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77429          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    17407          0    GROUP I         OTH             No           Second Lien       No                     300     NO          NON-IO          EMC
    17407          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    48127          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    48127          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34677          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    21117          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     8846          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    48238          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92392          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    92392          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    78207          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    40229          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55373          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    64152          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    46219          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    95829          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    43619          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    92392          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    48317          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    17777          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    43619          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    44212          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    23704          1    GROUP I         3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19460          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    48164          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    32208          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    95833          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    91344          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19406          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    80204          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    22407          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    80204          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46012          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    20715          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    85225          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    34772          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55373          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    55109          1    GROUP II        5YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    53144          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55434          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55303          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60544          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    53098          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    60409          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    33991          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    46016          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85250          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    83703          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    47130          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    15129          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34761        1.5    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    98513          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    29649          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    98671          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    46224          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    46224          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91744          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85017          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85635          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    29803          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    85635          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33141          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    93630          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    33032          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    32073          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    83642          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    23228          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    98684          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33484          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    95206          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    80219          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    80219          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    95242        1.5    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    19702          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    19702          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    32809          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    19032          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32837          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34744          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     3048          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    53215          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    53215          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85022          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          EMC
    48180          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    93291          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33351          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    17545          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    19050          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19020          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    54930          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    53210          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55429          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    53186          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    56011          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60641          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    53406          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    53406          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55110          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60644          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    53121          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    55434          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60104          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55904          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    60544          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    55372          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    60605          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    46151          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    33852          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    23666          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33909          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    78244          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          EMC
    78244        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55444          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    78266          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          EMC
    78266        1.5    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    46016          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    46011          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92335          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19803          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    28027          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    85323          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          EMC
    85323          1    GROUP II        2YR             No           First Lien        No                     360     YES         10 YEARS        EMC
    92236          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    86426          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    63119          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    53227          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    48223          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    53227          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78233        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21229          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    63021          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          EMC
    33309          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85648          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    24441          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    77004        1.5    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     8234          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
     8234          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    63945          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55959          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34758          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92703          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    92703          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    33559          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32720          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30213          1    GROUP I         2YR             No           First Lien        No                     360     YES         10 YEARS        EMC
    34234          0    GROUP I         OTH             Yes          First Lien        No                     240     NO          NON-IO          EMC
    30120          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    30034          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    33618          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    32244          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    19977          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    61265          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    89032          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    86403          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    32920          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19464          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    11702          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     8081          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    63137          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33126          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    33126          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    78216          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85041          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    78223        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85033          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    80540          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85364          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92314          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    31069          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    22482          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    22482          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    93705          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    80433          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    83501          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30315          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    30315          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    33881          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    33881        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33308          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92173          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    11727          1    GROUP I         2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    90220          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    32130          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    40241          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    98270          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92704          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    17020          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    98391          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    94605          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    85303          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32130          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    56243          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
     1588          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    93277          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85363          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    65793          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    20011          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    18466          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     8053          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    55025          1    GROUP II        2YR             No           First Lien        No                     360     YES         10 YEARS        EMC
    18466          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    65608          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30504          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    32771          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    76210          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60048          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    33936          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    70827          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    97121          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33496          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    77586          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77034          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    70778          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    70778          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77034          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    70764          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    17113          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19425          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    20852          1    GROUP II        2YR             No           First Lien        No                     360     YES         10 YEARS        EMC
    90650          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    90650          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    77515          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77489          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92376          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    89120          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    30117          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33618          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78245          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    78245          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    92082          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    92082          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    43205          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    77067          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33880          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
    33755          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85250          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33441          0    GROUP I         OTH             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    33705          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85035          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    85224        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    85242          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    85035        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85242          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    77028          1    GROUP I         3YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    85706          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          MASTER
    85706        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    79109          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85204          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    85204          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    85051          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    85051          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    87121          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    85364          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85041          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          MASTER
    48656          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85353        1.5    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85017          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85041        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    66002        1.5    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    77031        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75104          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    85239        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    64133          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    64133        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85219        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    75248        1.5    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    79936          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    36804          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    85035        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         2 YEARS         EMC
    52405        1.5    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    85232          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    85232        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    64063        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    64138          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    64119        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    62269          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    62269          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    85035        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    62014        1.5    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    23834          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85017          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    28031          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    30127          1    GROUP I         3YR             No           First Lien        No                     360     YES         5 YEARS         EMC
    30126          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    76901          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    76020          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     8879          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7307          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    60637          1    GROUP I         2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    20613          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    86442          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    21216          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    59718          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    96766          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    29732          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    39818          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60108          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         3 YEARS         MASTER
    40391          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45419          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    29325          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    49423          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    45212          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    28227          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    32503          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    60505          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     3106          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78130          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    30294          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    49646          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    96766          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    78210          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77388          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30311          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    77373          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    63136          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    12809          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33647          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    49646          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    84403          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
     6320          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77590          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77590          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    36830          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21225          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    77061          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    78727          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    70814          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    45403          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    77064          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77085          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    12487          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    28213          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    14216          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    21220          1    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33478          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    61111          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45322          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    19601          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    14218          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    77041          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19355          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30188          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    22192          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    84042          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    75068          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    34420          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    44264          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22707          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    41071          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    47167          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    49265          1    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63123          0    GROUP II        OTH             No           First Lien        Yes                    360     NO          NON-IO          MASTER
    80014          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    65605          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    53215          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45238          0    GROUP II        OTH             Yes          First Lien        No                     240     NO          NON-IO          MASTER
    21157          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    63114          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          MASTER
    30622          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    19149          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    44883          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    63110          2    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    53206          0    GROUP II        OTH             Yes          First Lien        Yes                    360     NO          NON-IO          EMC
    96021          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          MASTER
    85345          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    98027          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    98512          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    44121          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    85048          2    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    48382          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    63461          0    GROUP I         OTH             No           Second Lien       No                     180     NO          NON-IO          EMC
    53210          0    GROUP II        OTH             Yes          First Lien        Yes                    360     NO          NON-IO          MASTER
    60185          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    43620          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          MASTER
    49445          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33625          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    85302          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    43207          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     7666          0    GROUP II        OTH             No           First Lien        No                     360     NO          NON-IO          MASTER
    93230          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    97227          2    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    93306          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    56511          2    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    62040          2    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    54956          2    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    53216          2    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    76542          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    98902          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    32459          0    GROUP I         OTH             Yes          Second Lien       No                     180     NO          NON-IO          EMC
    24416          2    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     6112          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85603          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    32606          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    97114          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85213          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    44827          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    49017          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    30094          0    GROUP I         OTH             Yes          Second Lien       No                     240     NO          NON-IO          EMC
    95207          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    23223          1    GROUP I         2YR             No           First Lien        No                     360     YES         10 YEARS        EMC
    34715          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     2155          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          MASTER
     2155          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     7055          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          MASTER
     7055          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    12601          1    GROUP I         5YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33838          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33065          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
     8080          1    GROUP II        2YR             No           First Lien        No                     360     YES         5 YEARS         MASTER
    12590          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33415          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     6513          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22405          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    10952          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    19142          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19968          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    49093          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    85242          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    85242          0    GROUP I         OTH             Yes          Second Lien       No                     360     NO          NON-IO          EMC
    96007        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    49022          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          EMC
    29527          1    GROUP II        2YR             Yes          First Lien        Yes                    480     NO          NON-IO          EMC
     6615        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    29483        1.5    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    19120        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    11778        1.5    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    34478        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    11772          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    11772        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    19126        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19154        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    48146        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    22554          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    19425        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    19144        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    11701          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    11701        1.5    GROUP I         2YR             No           First Lien        No                     360     YES         2 YEARS         MASTER
    37604        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
     6611          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    12972        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19030        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    48219        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    71203        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    21046        1.5    GROUP II        2YR             No           First Lien        No                     360     YES         2 YEARS         MASTER
    65301        1.5    GROUP I         2YR             No           First Lien        No                     360     YES         2 YEARS         MASTER
    11706          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    11706        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    11717          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    11717        1.5    GROUP I         2YR             No           First Lien        No                     360     YES         2 YEARS         MASTER
    21222        1.5    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    23188        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    29468        1.5    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    23805          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    11434          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    11434        1.5    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    17314          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    17314          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    29456          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          MASTER
    29456        1.5    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    19150        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     7112        1.5    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    12303        1.5    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    17701          0    GROUP I         OTH             No           Second Lien       No                     360     NO          NON-IO          MASTER
    17701        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    17754        1.5    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
     3076          0    GROUP II        OTH             Yes          First Lien        No                     360     YES         10 YEARS        MASTER
     8059        1.5    GROUP II        3YR             No           First Lien        No                     360     YES         3 YEARS         EMC
    28262        1.5    GROUP II        2YR             No           First Lien        No                     360     YES         2 YEARS         MASTER
    95815        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
     2891        1.5    GROUP II        3YR             No           First Lien        No                     360     YES         3 YEARS         MASTER
    19148        1.5    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    19702        1.5    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    29928        1.5    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    33322        1.5    GROUP II        3YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    14094        1.5    GROUP II        2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
     8609        1.5    GROUP II        2YR             No           First Lien        No                     360     YES         2 YEARS         EMC
    93312          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    89502          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    93312          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    93306          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    93307          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    80022          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    80022          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    80018          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    89408          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    89408          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    92345          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    71201          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    71201          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90745          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90260          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    90260          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        EMC
    70363          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    91304          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90047          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    90047          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90059          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    91344          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    90744          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    90744          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    90059          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    20781          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20707          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20851          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20857          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    20782          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    20782          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20735          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20602          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    70737          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22728          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    36507          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    36507          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    22312          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    20748          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    22192          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    22192          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    22193          1    GROUP I         3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    19901          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    19901          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    20009          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        MASTER
    48197          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        MASTER
    33410          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         10 YEARS        MASTER
    32137          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    37035          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    71913          0    GROUP I         OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    45036          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          MASTER
    49428          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33063          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    37030          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    77571          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33470          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          EMC
    33470          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         2 YEARS         MASTER
    29412          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          EMC
    29412          1    GROUP I         2YR             No           First Lien        No                     360     YES         2 YEARS         MASTER
    56374          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    56374          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    56425          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    56425          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33610          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33904          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    80214          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    38109          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    55434          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    48504          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    55448          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    55448          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    89121          0    GROUP II        OTH             Yes          First Lien        No                     180     NO          NON-IO          MASTER
    55419          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    55419          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    81003          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    55434          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    55419          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    48224          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    80134          0    GROUP I         OTH             No           Second Lien       Yes                    360     NO          NON-IO          MASTER
    80134          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    32780          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    27284          1    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          MASTER
    33853          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33070          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33584          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    33572          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    33584          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33617          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    34685          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    34491          0    GROUP II        OTH             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    34209          0    GROUP II        OTH             Yes          First Lien        Yes                    360     NO          NON-IO          MASTER
    33584          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33709          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    34667          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    34667          1    GROUP II        3YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    33549          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    34736          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    34748          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          MASTER
    33991          1    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    32801          0    GROUP I         OTH             Yes          Second Lien       Yes                    360     NO          NON-IO          MASTER
    32801          1    GROUP I         2YR             Yes          First Lien        No                     360     YES         5 YEARS         MASTER
    30071          1    GROUP I         2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    95820        1.5    GROUP II        2YR             Yes          First Lien        No                     360     YES         5 YEARS         EMC
    76132          0    GROUP I         OTH             No           First Lien        No                     360     NO          NON-IO          EMC
    60655          2    GROUP I         2YR             No           First Lien        No                     360     NO          NON-IO          EMC
    76249          1    GROUP II        2YR             Yes          First Lien        No                     360     NO          NON-IO          EMC
    45230          0    GROUP I         OTH             No           Second Lien       No                     240     NO          NON-IO          EMC

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        C

       

      FORM
        OF
        TRANSFER AFFIDAVIT

       

      Affidavit
        pursuant to Section 860E(e)(4) of the Internal Revenue Code of 1986, as amended,
        and for other purposes

       

      
        	
                STATE
                  OF

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF

              	
                )

              	 

      

       

      [NAME
        OF
        OFFICER], being first duly sworn, deposes and says:

       

      1. That
        he/she is [Title of Officer] of [Name of Investor] (the “Investor”), a [savings
        institution] [corporation] duly organized and existing under the laws of
        [the
        State of _____] [the United States], on behalf of which he makes this
        affidavit.

       

      2. That
        (i)
        the Investor is not a “disqualified organization” as defined in Section
        860E(e)(5) of the Internal Revenue Code of 1986, as amended (the “Code”), or an
        electing large partnership as defined in Section 775(a) of the Code, and
        will
        not be a disqualified organization or an electing large partnership as of
        [Closing Date] [date of purchase]; (ii) it is not acquiring the Bear Stearns
        Asset Backed Securities I LLC Asset-Backed Certificates, Series 2006-HE5,
        Class
        [R-1][R-2][R-3][RX] Certificates (the “Residual Certificates”) for the account
        of a disqualified organization or an electing large partnership; (iii) it
        consents to any amendment of the Pooling and Servicing Agreement that shall
        be
        deemed necessary by Bear Stearns Asset Backed Securities I LLC (upon advice
        of
        counsel) to constitute a reasonable arrangement to ensure that the Residual
        Certificates will not be owned directly or indirectly by a disqualified
        organization or an electing large partnership; and (iv) it will not transfer
        such Residual Certificates unless (a) it has received from the transferee
        an
        affidavit in substantially the same form as this affidavit containing these
        same
        seven representations and (b) as of the time of the transfer, it does not
        have
        actual knowledge that such affidavit is false.

       

      3. That
        the
        Investor is one of the following: (i) a citizen or resident of the United
        States, (ii) a corporation or partnership (including an entity treated as
        a
        corporation or partnership for federal income tax purposes) created or organized
        in, or under the laws of, the United States or any state thereof or the District
        of Columbia (except, in the case of a partnership, to the extent provided
        in
        regulations), provided that no partnership or other entity treated as a
        partnership for United States federal income tax purposes shall be treated
        as a
        United States person within the meaning of the Code unless all persons that
        own
        an interest in such partnership either directly or through any entity that
        is
        not a corporation for United States federal income tax purposes are United
        States persons, (iii) an estate whose income is subject to United States
        federal
        income tax regardless of its source, or (iv) a trust other than a “foreign
        trust” as defined in Section 7701 (a)(31) of the Code.

       

      4. That
        the
        Investor’s taxpayer identification number is
        ______________________.

       

      5. That
        no
        purpose of the acquisition of the Residual Certificates is to avoid or impede
        the assessment or collection of tax.

       

      6. That
        the
        Investor understands that, as the holder of the Residual Certificates, the
        Investor may incur tax liabilities in excess of any cash flows generated
        by such
        Residual Certificates.

       

      7. That
        the
        Investor intends to pay taxes associated with holding the Residual Certificates
        as they become due.

       

      IN
        WITNESS WHEREOF, the Investor has caused this instrument to be executed on
        its
        behalf, pursuant to authority of its Board of Directors, by its [Title of
        Officer] this ____ day of _________, 20__.

       

      
        	 	 	 	 	 	 	
                [NAME
                  OF INVESTOR]

              
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	
                Name:

              	
                [Name
                  of Officer]

              
	 	 	 	 	 	 	
                Title:

              	
                [Title
                  of Officer]

              
	 	 	 	 	 	 	 	
                [Address
                  of Investor for receipt of distributions]

              
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                Address
                  of Investor for receipt of tax
                  information:

              

      

      

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      Personally
        appeared before me the above-named [Name of Officer], known or proved to
        me to
        be the same person who executed the foregoing instrument and to be the [Title
        of
        Officer] of the Investor, and acknowledged to me that he/she executed the
        same
        as his/her free act and deed and the free act and deed of the
        Investor.

       

      Subscribed
        and sworn before me this ___ day of _________, 20___.

       

      NOTARY
        PUBLIC

       

      COUNTY
        OF

       

      STATE
        OF

       

      My
        commission expires the ___ day of ___________________, 20___.

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        D

       

      FORM
        OF
        TRANSFEROR CERTIFICATE

       

      ______________,
        200___

       

      Bear
        Stearns Asset Backed Securities I LLC

       

      383
        Madison Avenue

       

      New
        York,
        New York 10179

       

      LaSalle
        Bank National Association

       

      135
        South
        LaSalle Street, Suite 1625

       

      Chicago,
        Illinois 60603

       

      Attention:
        Bear Stearns Asset Backed Securities Trust 2006-HE5

       

      
        	
                Re:

              	
                Bear
                  Stearns Asset Backed Securities I Trust 2006-HE5, Asset-Backed
                  Certificates, Series 2006-HE5 (the “Certificates”), including the Class
                  ___

                Certificates
                  (the “Privately Offered
                  Certificates”)

              

      

      Ladies
        and Gentlemen:

       

      In
        connection with the sale by ___________ (the “Seller”) to ________ (the
“Purchaser”) of $_________ Initial Certificate Principal Balance of Asset-Backed
        Certificates, Series 2006-HE5, Class _____ (the “Certificates”), issued pursuant
        to the Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”),
        dated as of May 1, 2006, among Bear Stearns Asset Backed Securities I LLC,
        as
        depositor (the “Depositor”), EMC Mortgage Corporation, as seller and as master
        servicer and LaSalle Bank National Association, as trustee (the “Trustee”). The
        Seller hereby certifies, represents and warrants to, a covenants with, the
        Depositor and the Trustee that:

       

      Neither
        the Seller nor anyone acting on its behalf (a) has offered, pledged, sold,
        disposed of or otherwise transferred any Certificate, any interest in any
        Certificate or any other similar security to any person in any manner, (b)
        has
        solicited any offer to buy or to accept a pledge, disposition or other transfer
        of any Certificate, any interest in any Certificate or any other similar
        security from any person in any manner, (c) has otherwise approached or
        negotiated with respect to any Certificate, any interest in any Certificate
        or
        any other similar security with any person in any manner, (d) has made any
        general solicitation by means of general advertising or in any other manner,
        or
        (e) has taken any other action, that (as to any of (a) through (e) above)
        would
        constitute a distribution of the Certificates under the Securities Act of
        1933
        (the “Act”), that would render the disposition of any Certificate a violation of
        Section 5 of the Act or any state securities law, or that would require
        registration or qualification pursuant thereto. The Seller will not act in
        any
        manner set forth in the foregoing sentence with respect to any Certificate.
        The
        Seller has not and will not sell or otherwise transfer any of the Certificates,
        except in compliance with the provisions of the Pooling and Servicing
        Agreement.

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      
        	 	 	 	 	 	 	 	
                Very
                  truly yours,

              
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                ___________________________________________

              
	 	 	 	 	 	 	 	
                (Seller)

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	
                Name:

              	 
	 	 	 	 	 	 	 	
                Title:

              	 

      

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        E

       

      FORM
        OF
        INVESTMENT LETTER-NON RULE 144A

       

       

      
        	 	 	 	
                [Date]

              
	 	 	 	 
	 	 	 	 

      

       

      [SELLER]

       

      Bear
        Stearns Asset Backed Securities I LLC

      383
        Madison Avenue

      New
        York,
        New York 10179

       

      LaSalle
        Bank National Association

      135
        South
        LaSalle Street, Suite 1625

      Chicago,
        Illinois 60603

       

      
        	
                Re:

              	
                Bear
                  Stearns Asset Backed Securities I Trust 2006-HE5, Asset-Backed
                  Certificates, Series 2006-HE5 (the “Certificates”), including the Class
                  ___

                Certificates
                  (the “Privately Offered
                  Certificates”)

              

      

       

      Dear
        Ladies and Gentlemen:

       

      In
        connection with our purchase of Privately Offered Certificates, we confirm
        that:

       

      
        	
                (i)

              	
                we
                  understand that the Privately Offered Certificates are not being
                  registered under the Securities Act of 1933, as amended (the “Act”) or any
                  applicable state securities or “Blue Sky” laws, and are being sold to us
                  in a transaction that is exempt from the registration requirements
                  of such
                  laws;

              
	 	 
	
                (ii)

              	
                any
                  information we desired concerning the Certificates, including the
                  Privately Offered Certificates, the trust in which the Certificates
                  represent the entire beneficial ownership interest (the “Trust”) or any
                  other matter we deemed relevant to our decision to purchase Privately
                  Offered Certificates has been made available to us;

              
	 	 
	
                (iii)

              	
                we
                  are able to bear the economic risk of investment in Privately Offered
                  Certificates; we are an institutional “accredited investor” as defined in
                  Section 501(a) of Regulation D promulgated under the Act and a
                  sophisticated institutional investor;

              
	 	 
	
                (iv)

              	
                we
                  are acquiring Privately Offered Certificates for our own account,
                  not as
                  nominee for any other person, and not with a present view to any
                  distribution or other disposition of the Privately Offered
                  Certificates;

              
	 	 
	
                (v)

              	
                we
                  agree the Privately Offered Certificates must be held indefinitely
                  by us
                  (and may not be sold, pledged, hypothecated or in any way disposed
                  of)
                  unless subsequently registered under the Act and any applicable
                  state
                  securities or “Blue Sky” laws or an exemption from the registration
                  requirements of the Act and any applicable state securities or
“Blue Sky”
                  laws is available;

              
	 	 
	
                (vi)

              	
                we
                  agree that in the event that at some future time we wish to dispose
                  of or
                  exchange any of the Privately Offered Certificates (such disposition
                  or
                  exchange not being currently foreseen or contemplated), we will
                  not
                  transfer or exchange any of the Privately Offered Certificates
                  unless:

              
	 	 
	 	
                (A)
                  (1) the sale is to an Eligible Purchaser (as defined below), (2)
                  if
                  required by the Pooling and Servicing Agreement (as defined below)
                  a
                  letter to substantially the same effect as either this letter or,
                  if the
                  Eligible Purchaser is a Qualified Institutional Buyer as defined
                  under
                  Rule 144A of the Act, the Rule 144A and Related Matters Certificate
                  in the
                  form attached to the Pooling and Servicing Agreement (as defined
                  below)
                  (or such other documentation as may be acceptable to the Trustee)
                  is
                  executed promptly by the purchaser and delivered to the addressees
                  hereof
                  and (3) all offers or solicitations in connection with the sale,
                  whether
                  directly or through any agent acting on our behalf, are limited
                  only to
                  Eligible Purchasers and are not made by means of any form of general
                  solicitation or general advertising whatsoever; and

              
	 	 
	 	
                (B)
                  if the Privately Offered Certificate is not registered under the
                  Act (as
                  to which we acknowledge you have no obligation), the Privately
                  Offered
                  Certificate is sold in a transaction that does not require registration
                  under the Act and any applicable state securities or “blue sky” laws and,
                  if LaSalle Bank National Association (the “Trustee”) so requests, a
                  satisfactory Opinion of Counsel is furnished to such effect, which
                  Opinion
                  of Counsel shall be an expense of the transferor or the
                  transferee;

              
	 	 
	
                (vii)

              	
                we
                  agree to be bound by all of the terms (including those relating
                  to
                  restrictions on transfer) of the Pooling and Servicing, pursuant
                  to which
                  the Trust was formed; we have reviewed carefully and understand
                  the terms
                  of the Pooling and Servicing Agreement;

              
	 	 
	
                (viii)

              	
                we
                  either: (i) are not acquiring the Privately Offered Certificate
                  directly
                  or indirectly by, or on behalf of, an employee benefit plan or
                  other
                  retirement arrangement which is subject to Title I of the Employee
                  Retirement Income Security Act of 1974, as amended, and/or section
                  4975 of
                  the Internal Revenue Code of 1986, as amended, or (ii) in the case
                  of the
                  Privately Offered Certificates, have provided the Opinion of Counsel
                  required by the Agreement, or (iii) in the case of the Class M-10
                  or Class
                  M-11 Certificates, the transfer (1) will not result in a prohibited
                  transaction which is not covered by Prohibited Transaction Exemption
                  (“PTE”) 84-14, PTE 91-38, PTE 90-1, PTE 95-60 or PTE 96-23 and (2) will
                  not give rise to any additional obligations on the part of the
                  Depositor,
                  the Master Servicer or the Trustee. 

              
	 	 
	
                (ix)

              	
                We
                  understand that each of the Privately Offered Certificates bears,
                  and will
                  continue to bear, a legend to substantiate the following effect:
                  THIS
                  CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
                  ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE
                  SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE,
                  AGREES
                  THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
                  TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER
                  APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES
                  ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A
                  QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A
“QIB”),
                  PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT
                  OF A
                  QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER,
                  RESALE,
                  PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
                  (2)
                  PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144
                  UNDER THE
                  SECURITIES ACT (IF AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN
                  “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING THEREOF IN RULE
                  501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE ACT OR ANY
                  ENTITY IN
                  WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS PURCHASING
                  NOT
                  FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT TO
                  (A) THE
                  RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED
                  IN
                  THE AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF SUCH OTHER
                  EVIDENCE
                  ACCEPTABLE TO THE TRUSTEE THAT SUCH REOFFER, RESALE, PLEDGE OR
                  TRANSFER IS
                  IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS
                  OR IN EACH
                  CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED
                  STATES AND ANY OTHER APPLICABLE JURISDICTION. [In
                  the case of the Class M-10 Certificates and Class M-11 Certificates]:
                  THIS
                  CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON
                  BEHALF
                  OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH
                  IS
                  SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
                  OF 1974,
                  AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986,
                  AS
                  AMENDED, UNLESS THE TRANSFEREE CERTIFIES OR REPRESENTS THAT THE
                  PROPOSED
                  TRANSFER AND HOLDING OF A CERTIFICATE AND THE SERVICING, MANAGEMENT
                  AND
                  OPERATION OF THE TRUST AND ITS ASSETS: (I) WILL NOT RESULT IN ANY
                  PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER PROHIBITED TRANSACTION
                  EXEMPTION (“PTE”) 84-14, PTE 91-38, PTE 90-1, PTE 95-60 OR PTE 96-23 AND
                  (II) WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART
                  OF THE
                  DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE, WHICH WILL BE DEEMED
                  REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL
                  CERTIFICATE OR UNLESS AN OPINION SPECIFIED IN SECTION 6.02 OF THE
                  AGREEMENT IS PROVIDED.

              
	 	 
	 	
                [In
                  the case of the Class P Certificates and Class CE
                  Certificates]:

              
	 	 
	 	
                NO
                  TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS
                  THE
                  TRANSFEREE PROVIDES EITHER A CERTIFICATION PURSUANT TO SECTION
                  6.02(h) OF
                  THE AGREEMENT OR AN OPINION OF COUNSEL SATISFACTORY TO THE TRUSTEE
                  THAT
                  THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE PERMISSIBLE UNDER
                  APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT
                  PROHIBITED
                  TRANSACTIONS UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME
                  SECURITY
                  ACT OF 1974, AS AMENDED (“ERISA”) OR SECTION 4975 OF THE CODE AND WILL NOT
                  SUBJECT THE TRUSTEE, MASTER SERVICER OR THE DEPOSITOR TO ANY OBLIGATION
                  OR
                  LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE
                  AGREEMENT.

              

      

       

      “Eligible
        Purchaser”
means
        a
        corporation, partnership or other entity which we have reasonable grounds
        to
        believe and do believe (i) can make representations with respect to itself
        to
        substantially the same effect as the representations set forth herein, and
        (ii)
        is either a Qualified Institutional Buyer as defined under Rule 144A of the
        Act
        or an institutional “Accredited Investor” as defined under Rule 501 of the
        Act.

       

      Terms
        not
        otherwise defined herein shall have the meanings assigned to them in the
        Pooling
        and Servicing Agreement, dated as of May 1, 2006, among Bear Stearns Asset
        Backed Securities I LLC, as depositor, EMC Mortgage Corporation, as seller
        and
        as master servicer and LaSalle Bank National Association, as Trustee (the
        “Pooling and Servicing Agreement’).

       

      If
        the
        Purchaser proposes that its Certificates be registered in the name of a nominee
        on its behalf, the Purchaser has identified such nominee below, and has caused
        such nominee to complete the Nominee Acknowledgment at the end of this
        letter.

       

      Name
        of
        Nominee (if any): __________________________

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, this document has been executed by the undersigned who is
        duly
        authorized to do so on behalf of the undersigned Eligible Purchaser on the
        ___
        day of ________, 20___.

       

      
        	 	 	 	 	 	 	 	
                Very
                  truly yours,

              
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                [PURCHASER]

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Authorized
                  Officer)

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Attorney-in-fact)

              

      

      

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      Nominee
        Acknowledgment

       

      The
        undersigned hereby acknowledges and agrees that as to the Certificates being
        registered in its name, the sole beneficial owner thereof is and shall be
        the
        Purchaser identified above, for whom the undersigned is acting as
        nominee.

       

      
        	 	 	 	 	 	 	 	
                [NAME
                  OF NOMINEE]

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Authorized
                  Officer)

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Attorney-in-fact)

              

      

      

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        F

       

      FORM
        OF
        RULE 144A AND RELATED MATTERS CERTIFICATE

       

      [SELLER]

       

      Bear
        Stearns Asset Backed Securities I LLC

      383
        Madison Avenue

      New
        York,
        New York 10179

       

      LaSalle
        Bank National Association

      135
        South
        LaSalle Street, Suite 1625

      Chicago,
        Illinois 60603

       

      
        	
                Re:

              	
                Bear
                  Stearns Asset Backed Securities I Trust 2006-HE5, Asset-Backed
                  Certificates, Series 2006-HE5 (the “Certificates”), including the Class
                  

                ____
                  Certificates (the “Privately Offered
                  Certificates”)

              

      

       

      Dear
        Ladies and Gentlemen:

       

      In
        connection with our purchase of Privately Offered Certificates, the undersigned
        certifies to each of the parties to whom this letter is addressed that it
        is a
        qualified institutional buyer (as defined in Rule 144A under the Securities
        Act
        of 1933, as amended (the “Act”)) as follows:

       

      1. It
        owned
        and/or invested on a discretionary basis eligible securities (excluding
        affiliate’s securities, bank deposit notes and CD’s, loan participations,
        repurchase agreements, securities owned but subject to a repurchase agreement
        and swaps), as described below:

       

      Date:
        ______________, 20__ (must be on or after the close of its most recent fiscal
        year)

       

      Amount:
        $
        _____________________; and

       

      2. The
        dollar amount set forth above is:

       

      
        	 	
                a.

              	
                greater
                  than $100 million and the undersigned is one of the following
                  entities:

              

      

       

      
        	
                (1)

              	
                [
                  ]

              	
                an
                  insurance company as defined in Section 2(13) of the Act1 ;
                  or

              
	 	 	 
	
                (2)

              	
                [
                  ]

              	
                an
                  investment company registered under the Investment Company Act
                  or any
                  business development company as defined in Section 2(a)(48) of
                  the
                  Investment Company Act of 1940; or

              
	 	 	 
	
                (3)

              	
                [
                  ]

              	
                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; or

              
	 	 	 
	
                (4)

              	
                [
                  ]

              	
                a
                  plan (i) established and maintained by a state, its political
                  subdivisions, or any agency or instrumentality of a state or its
                  political
                  subdivisions, the laws of which permit the purchase of securities
                  of this
                  type, for the benefit of its employees and (ii) the governing investment
                  guidelines of which permit the purchase of securities of this type;
                  or

              
	 	 	 
	
                (5)

              	
                [
                  ]

              	
                a
                  business development company as defined in Section 202(a)(22) of
                  the
                  Investment Advisers Act of 1940; or

              
	 	 	 
	
                (6)

              	
                [
                  ]

              	
                a
                  corporation (other than a U.S. bank, savings and loan association
                  or
                  equivalent foreign institution), partnership, Massachusetts or
                  similar
                  business trust, or an organization described in Section 501(c)(3)
                  of the
                  Internal Revenue Code; or

              
	 	 	 
	
                (7)

              	
                [
                  ]

              	
                a
                  U.S. bank, savings and loan association or equivalent foreign institution,
                  which has an audited net worth of at least $25 million as demonstrated
                  in
                  its latest annual financial statements; or

              
	 	 	 
	
                (8)

              	
                [
                  ]

              	
                an
                  investment adviser registered under the Investment Advisers Act;
                  or

              
	 	 	 
	
                b.

              	
                [
                  ]

              	
                greater
                  than $10 million, and the undersigned is a broker-dealer registered
                  with
                  the SEC; or

              
	 	 	 
	
                c.

              	
                [
                  ]

              	
                less
                  than $10 million, and the undersigned is a broker-dealer registered
                  with
                  the SEC and will only purchase Rule 144A securities in transactions
                  in
                  which it acts as a riskless principal (as defined in Rule 144A);
                  or

              
	 	 	 
	
                d.

              	
                [
                  ]

              	
                less
                  than $100 million, and the undersigned is an investment company
                  registered
                  under the Investment Company Act of 1940, which, together with
                  one or more
                  registered investment companies having the same or an affiliated
                  investment adviser, owns at least $100 million of eligible securities;
                  or

              
	 	 	 
	
                e.

              	
                [
                  ]

              	
                less
                  than $100 million, and the undersigned is an entity, all the equity
                  owners
                  of which are qualified institutional buyers.

              
	 	 	 

      

      The
        undersigned further certifies that it is purchasing a Privately Offered
        Certificate for its own account or for the account of others that independently
        qualify as “Qualified Institutional Buyers” as defined in Rule 144A. It is aware
        that the sale of the Privately Offered Certificates is being made in reliance
        on
        its continued compliance with Rule 144A. It is aware that the transferor
        may
        rely on the exemption from the provisions of Section 5 of the Act provided
        by
        Rule 144A. The undersigned understands that the Privately Offered Certificates
        may be resold, pledged or transferred only to (i) 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 in Rule 144A, or (ii)
        an
        institutional “accredited investor,” as such term is defined under Rule 501 of
        the Act in a transaction that otherwise does not constitute a public
        offering.

       

      The
        undersigned agrees that if at some future time it wishes to dispose of or
        exchange any of the Privately Offered Certificates, it will not transfer
        or
        exchange any of the Privately Offered Certificates to a Qualified Institutional
        Buyer without first obtaining a Rule 144A and Related Matters Certificate
        in the
        form hereof from the transferee and delivering such certificate to the
        addressees hereof. Prior to making any transfer of Privately Offered
        Certificates, if the proposed Transferee is an institutional “accredited
        investor,” the transferor shall obtain from the transferee and deliver to the
        addressees hereof an Investment Letter in the form attached to the Pooling
        and
        Servicing Agreement, dated as of May 1, 2006, among Bear Stearns Asset Backed
        Securities I LLC, as depositor, EMC Mortgage Corporation, as the seller and
        as
        master servicer and LaSalle Bank National Association, as Trustee, pursuant
        to
        which the Certificates were issued.

       

      The
        undersigned certifies that it either: (i) is not acquiring the Privately
        Offered
        Certificate directly or indirectly by, or on behalf of, an employee benefit
        plan
        or other retirement arrangement which is subject to Title I of the Employee
        Retirement Income Security Act of 1974, as amended, and/or section 4975 of
        the
        Internal Revenue Code of 1986, as amended, or (ii) in the case of the Privately
        Offered Certificates, has provided the Opinion of Counsel required by the
        Agreement, or (iii) in the case of the Class M-10 or Class M-11 Certificates,
        the transfer (1) will not result in a prohibited transaction which is not
        covered by Prohibited Transaction Exemption (“PTE”) 84-14, PTE 91-38, PTE 90-1,
        PTE 95-60 or PTE 96-23 and (2) will not give rise to any additional obligations
        on the part of the Depositor, the Master Servicer or the Trustee.

       

      If
        the
        Purchaser proposes that its Certificates be registered in the name of a nominee
        on its behalf, the Purchaser has identified such nominee below, and has caused
        such nominee to complete the Nominee Acknowledgment at the end of this
        letter.

       

      Name
        of
        Nominee (if any): _______________________________________

      

      

        

        
          1 A
            purchase by an insurance company for one or more of its separate accounts,
            as
            defined by Section 2(a)(37) of the Investment Company Act of 1940, which
            are
            neither registered nor required to be registered thereunder, shall be
            deemed to
            be a purchase for the account of such insurance
            company.

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, this document has been executed by the undersigned who is
        duly
        authorized to do so on behalf of the undersigned Eligible Purchaser on the
        ____
        day of ___________, 20___.

       

      
        	 	 	 	 	 	 	 	
                Very
                  truly yours,

              
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                [PURCHASER]

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Authorized
                  Officer)

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Attorney-in-fact)

              

      

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      Nominee
        Acknowledgment

       

      The
        undersigned hereby acknowledges and agrees that as to the Certificates being
        registered in its name, the sole beneficial owner thereof is and shall be
        the
        Purchaser identified above, for whom the undersigned is acting as
        nominee.

       

      
        	 	 	 	 	 	 	 	
                [NAME
                  OF NOMINEE]

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Authorized
                  Officer)

              
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (Attorney-in-fact)

              

      

      

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        G

       

      FORM
        OF
        REQUEST FOR RELEASE

       

      
        	
                To:

              	
                LaSalle
                  Bank National Association

              

      

      
        	 	
                135
                  South LaSalle Street, Suite 1625

              

      

      
        	 	
                Chicago,
                  Illinois 60603

              

      

       

      
        	
                RE:

              	
                Pooling
                  and Servicing Agreement, dated as of May 1, 2006, among Bear Stearns
                  Asset
                  Backed Securities I LLC, as Depositor, EMC Mortgage Corporation,
                  as seller
                  and as master servicer and LaSalle Bank National Association, as
                  Trustee

              

      

      

      In
        connection with the administration of the Mortgage Loans held by you pursuant
        to
        the above-captioned Pooling and Servicing Agreement, we request the release,
        and
        hereby acknowledge receipt, of the Mortgage File for the Mortgage Loan described
        below, for the reason indicated.

       

      Mortgagor’s
        Name, Address & Zip Code:

       

      Mortgage
        Loan Number:

       

      Reason
        for Requesting Documents (check one):

       

      
        	
                _____

              	
                1.

              	
                Mortgage
                  Loan paid in full. ([The Master Servicer] [The Trustee] hereby
                  certifies
                  that all amounts received in connection therewith have been credited
                  to
                  ______________________________.)

              
	 	 	 
	
                _____

              	
                2.

              	
                Mortgage
                  Loan in foreclosure.

              
	 	 	 
	
                _____

              	
                3.

              	
                Repurchase.
                  (The [Master Servicer] [Trustee] hereby certifies that the repurchase
                  price has been credited to ________________________.)

              
	 	 	 
	
                _____

              	
                4.

              	
                A
                  Mortgage Loan liquidated by _________________________. ([The Master
                  Servicer] [The Trustee] hereby certifies that all proceeds of the
                  foreclosure, insurance, condemnation or other liquidation have
                  been
                  finally received and credited to
                  ______________________.)

              
	 	 	 
	
                _____

              	
                5.

              	
                Other
                  (explain)

              	 

      

      

      
        	 	 	 	 	 	 	 	
                By:

              	 
	 	 	 	 	 	 	 	 	
                (authorized
                  signer)

              
	 	 	 	 	 	 	 	
                Issuer:
                  

              	 
	 	 	 	 	 	 	 	
                Address:
                  

              	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
                Date:

              	 

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        H

       

      DTC
        Letter of Representations

      

      (See
        Tabs
        # 22 & # 62)

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        I

       

      Schedule
        of Mortgage Loans with Lost Notes

      

      [Provided
        Upon Request]

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        J

       

      FORM
        OF CUSTODIAL AGREEMENT

       

      THIS
        CUSTODIAL AGREEMENT (as amended and supplemented from time to time, the
“Agreement”), dated as of May 30, 2006, by and among LASALLE BANK NATIONAL
        ASSOCIATION, not individually but solely as trustee under the Pooling and
        Servicing Agreement defined below (including its successors under the Pooling
        and Servicing Agreement defined below, in that capacity, the “Trustee”) and as
        custodian (together with any successor in interest or any successor appointed
        hereunder, in that capacity, the “Custodian”), BEAR STEARNS ASSET BACKED
        SECURITIES I LLC, as depositor (together with any successor in interest,
        the
“Depositor”), EMC MORTGAGE CORPORATION, as a seller (“EMC”) and as master
        servicer (together with any successor in interest or successor under the
        Pooling
        and Servicing Agreement referred to below, the “Master Servicer”) and Master
        Funding LLC, as a seller (“Master Funding”, and together with EMC, the
“Sellers”). 

       

      WITNESSETH
        THAT:

       

      WHEREAS,
        the Depositor, EMC, the Master Servicer and the Trustee have entered into
        a
        Pooling and Servicing Agreement, dated as of May 1, 2006, relating to the
        issuance of Bear Stearns Asset Backed Securities I Trust 2006-HE5, Asset-Backed
        Certificates, Series 2006-HE5 (as in effect on the date of this Agreement,
        the
“Original Pooling and Servicing Agreement,” and as amended and supplemented from
        time to time, the “Pooling and Servicing Agreement”); and all custodian
        obligations are defined herein. In the event any custodian obligations are
        defined in the Pooling and Servicing Agreement, this custodial agreement
        shall
        supercede.

       

      WHEREAS,
        the Custodian has agreed to act as agent for the Trustee on behalf of the
        Certificateholders for the purposes of receiving and holding certain documents
        and other instruments delivered by the Depositor, the Sellers or the Master
        Servicer under the Pooling and Servicing Agreement and the Servicers, if
        any,
        under their respective Servicing Agreements, all upon the terms and conditions
        and subject to the limitations hereinafter set forth;

       

      NOW,
        THEREFORE, in consideration of the premises and the mutual covenants and
        agreements hereinafter set forth, the Trustee, the Depositor, the Sellers,
        the
        Master Servicer and the Custodian hereby agree as follows:

       

       

      ARTICLE
        I

      DEFINITIONS

       

      Section
        1.1 Definitions.
        For the
        purposes of this Agreement, the following terms shall have the indicated
        meanings unless the context or use indicates another or different meaning
        and
        intent, the definitions of such terms are equally applicable to the singular
        and
        the plural forms of such terms, the words “herein,” “hereof” and “hereunder” and
        other words of similar import refer to this Agreement as a whole and not
        to any
        particular section or other subdivision, and section references refer to
        sections of this Agreement.

       

      "Business
        Day"
        shall
        mean any day other than (i) a Saturday or a Sunday, or (ii) a day on which
        banking institutions in The City of New York, New York, Chicago, Illinois,
        Minneapolis, Minnesota or the city in which the Corporate Trust Office of
        the
        Trustee or the principal office of the Master Servicer is located are authorized
        or obligated by law or executive order to be closed.

       

      “Closing
        Date”
shall
        mean May 30, 2006.

       

      “MERS”
shall
        mean 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”
shall
        mean any Mortgage Loan registered with MERS on the MERS® system.

       

      “MERS®
        System”
shall
        mean the system of recording transfers of Mortgages electronically maintained
        by
        MERS.

       

      “MIN”
shall
        mean the Mortgage Identification Number for Mortgage Loans registered with
        MERS
        on the MERS System.

       

      “MOM
        Loan”
shall
        mean with respect to any Mortgage Loan, MERS acting as the mortgagee of such
        Mortgage Loan, solely as nominee for the originator of such Mortgage Loan
        and
        its successors and assigns, at the origination thereof.

       

      “Mortgage”
shall
        mean the mortgage, deed of trust or other instrument creating a first or
        second
        lien on or first or second priority ownership interest in an estate in fee
        simple in real property securing a Mortgage Note.

       

      “Mortgage
        Assignment”
shall
        mean an assignment of the Mortgage in recordable form, sufficient under the
        laws
        of the jurisdiction wherein the related Mortgaged Property is located to
        reflect
        the sale of the Mortgage.

       

      “Mortgage
        File”
shall
        have the meaning set forth in Section 2 hereof.

       

      “Mortgage
        Loan”
shall
        mean a first or subordinate lien mortgage loan on a one-to-four family
        residential property.

       

      “Mortgage
        Loan Schedule”
shall
        mean the electronic schedule of Mortgage Loans identified in Schedule
        A.

       

      “Mortgaged
        Property”
shall
        mean the real property securing repayment of a Mortgage Loan.

       

      “Mortgagor”
shall
        mean the obligor on a Mortgage Note.

       

      “Note”
shall
        mean any promissory note or other evidence of indebtedness evidencing the
        indebtedness of a Mortgagor under a Mortgage Loan.

       

      “Servicer”
shall
        mean the related servicer of the Mortgage Loans as designated by
        Owner.

       

      Any
        capitalized terms used in this Agreement and not defined herein shall have
        the
        meanings assigned in the Original Pooling and Servicing Agreement, unless
        otherwise required by the context herein.

       

       

      ARTICLE
        II

      CUSTODY
        OF MORTGAGE DOCUMENTS

       

      Section
        2.1 Custodian
        to Act as Agent: Acceptance of Mortgage Files.
        The
        Custodian, as the duly appointed custodial agent of the Trustee for these
        purposes, acknowledges (subject to any exceptions noted in the Initial
        Certification referred to in Section 2.3(a)) receipt of the Mortgage Files
        relating to the Mortgage Loans identified on the Schedule attached hereto
        (the
“Mortgage Loan Schedule”) and declares that it holds and will hold such Mortgage
        Files as agent for the Trustee, in trust, for the use and benefit of all
        present
        and future Certificateholders.

       

      Section
        2.2 Recordation
        of Assignments.
        If any
        Mortgage File includes one or more assignments of Mortgage that have not
        been
        recorded and the related Mortgage Loan is not a MERS Loan or the Custodian
        has
        not received written instructions from the related Seller or the Trustee
        that
        the related Mortgaged Properties are located in jurisdictions under the laws
        of
        which the recordation of such assignment is not necessary to protect the
        Trustee’s interest therein, each such assignment shall be delivered by the
        Custodian to the related Seller for the purpose of recording it in the
        appropriate public office for real property records, and the Sellers, at
        no
        expense to the Custodian, shall promptly cause to be recorded in the appropriate
        public office for real property records each such assignment of Mortgage
        and,
        upon receipt thereof from such public office, shall return each such assignment
        of Mortgage to the Custodian.

       

      Section
        2.3 Review
        of Mortgage Files.

       

      (a) The
        documents set forth in the definition “Mortgage File” herein shall be delivered
        and released to the Custodian relating to each of the Mortgage Loans to be
        purchased on a Closing Date. The related Mortgage Loans shall be identified
        in
        the Mortgage Loan Schedule in electronic format which shall be delivered
        to the
        Custodian at least two Business Days prior to each Closing Date. On or prior
        to
        the Closing Date, the Custodian shall deliver to EMC and the Trustee an Initial
        Certification in the form annexed hereto as Exhibit One evidencing receipt
        (subject to any exceptions noted therein) of a Mortgage File for each of
        the
        Mortgage Loans listed on Schedule A attached hereto (the “Mortgage Loan
        Schedule”).

       

      (b) Within
        90
        days thereafter, the Custodian agrees, for the benefit of Certificateholders,
        to
        review each such document, and shall deliver to EMC, the Master Servicer
        and the
        Trustee an Interim Certification in the form annexed hereto as Exhibit Two
        to
        the effect that all such documents have been executed and received and that
        such
        documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule,
        except for any exceptions listed on Schedule A attached to such Interim
        Certification. The Custodian shall be under no duty or obligation to inspect,
        review or examine said documents, instruments, certificates or other papers
        to
        determine that the same 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.

       

      (c) Not
        later
        than 180 days after the Closing Date, the Custodian shall review, for the
        benefit of Certificateholders, the Mortgage Files and deliver to EMC, the
        Master
        Servicer and the Trustee a Final Certification in the form annexed hereto
        as
        Exhibit Three evidencing whether each document required to be recorded has
        been
        returned from the recording office with evidence of recording thereon and
        the
        Custodian has received either an original or a copy thereof. If the Custodian
        finds any document missing, or to be unrelated, determined on the basis of
        the
        mortgagor name, original principal balance and loan number, to the mortgage
        loans identified on the Mortgage Loan Schedule or to appear defective on
        its
        face, the Custodian shall note such defect in the exception report attached
        to
        the Final Certification and shall promptly notify the Trustee. 

       

      (a) In
        reviewing the Mortgage Files as provided herein, the Custodian shall make
        no
        representation as to and shall not be responsible to verify (i) the validity,
        legality, enforceability, due authorization, recordability, sufficiency or
        genuineness of any of the documents included in any Mortgage File or (ii)
        the
        collectibility, insurability, effectiveness or suitability of any of the
        documents in any Mortgage File.

       

      In
        performing any such review, the Custodian may conclusively rely on the purported
        due execution and genuineness of any such document and on the purported
        genuineness of any signature thereon.

       

      Upon
        receipt of written request from the Trustee, the Custodian shall as soon
        as
        practicable supply the Trustee with a list of all of the documents relating
        to
        the Mortgage Loans missing from the Mortgage Files.

       

      Section
        2.4 Custodian
        to Cooperate: Release of Mortgage Files.
        Upon
        receipt of written notice per Exhibit Four or Electronic Release Request
        per
        Exhibit Six from the Trustee that EMC has repurchased a Mortgage Loan pursuant
        to Article II of the Pooling and Servicing Agreement, and a request for release
        (a “Request for Release”) confirming that the purchase price therefor has been
        paid as required under the Pooling and Servicing Agreement, then the Custodian
        agrees to promptly release to EMC the related Mortgage File.

       

      Upon
        the
        Custodian’s receipt of a Request for Release substantially in the form of
        Exhibit Four attached hereto or Electronic Release Request per Exhibit Six,
        stating that it has received payment in full of a Mortgage Loan or that payment
        in full will be escrowed in a manner customary for such purposes, the Custodian
        agrees promptly to release to the Master Servicer, the related Mortgage File.
        The Depositor shall deliver to the Custodian and the Custodian agrees to
        review
        in accordance with the provisions of the Custodial Agreement the Mortgage
        Note
        and other documents constituting the Mortgage File with respect to any
        Replacement Mortgage Loan.

       

      From
        time
        to time as is appropriate for the servicing or foreclosure of any Mortgage
        Loan,
        the Master Servicer shall deliver to the Custodian a Request for Release
        per
        Exhibit Four or Electronic Release Request per Exhibit Five requesting that
        possession of all of the Mortgage File be released to the Master Servicer
        and
        certifying as to the reason for such release. Upon receipt of the foregoing,
        the
        Custodian shall deliver the Mortgage File to the Master Servicer. All Mortgage
        Files so released to the Master Servicer shall be held by it in trust for
        the
        Trustee for the use and benefit of all present and future Certificateholders.
        The Master Servicer shall cause each Mortgage File or any document therein
        so
        released to be returned to the Custodian when the need therefore by the Master
        Servicer no longer exists, unless (i) the Mortgage Loan has been liquidated,
        or
        (ii) the Mortgage File or such document has been delivered to an attorney,
        or to
        a public trustee or other public official as required by law, for purposes
        of
        initiating or pursuing legal action or other proceedings for the foreclosure
        of
        the Mortgaged Property.

       

      Section
        2.5 Assumption
        Agreements.
        In the
        event that any assumption agreement, substitution of liability agreement
        or sale
        of servicing agreement is entered into with respect to any Mortgage Loan
        subject
        to this Agreement, the Master Servicer shall notify the Custodian that such
        assumption or substitution agreement has been completed by forwarding to
        the
        Custodian the original of such assumption or substitution agreement, which
        shall
        be added to the related Mortgage File and, for all purposes, shall be considered
        a part of such Mortgage File to the same extent as all other documents and
        instruments constituting parts thereof.

       

       

      ARTICLE
        III

      CONCERNING
        THE CUSTODIAN

       

      Section
        3.1 Custodian
        a Bailee and Agent of the Trustee.
        With
        respect to each Mortgage Note, Mortgage and other documents constituting
        each
        Mortgage File which are delivered to the Custodian, the Custodian is exclusively
        the bailee and custodial agent of the Trustee and has no instructions to
        hold
        any Mortgage Note or Mortgage for the benefit of any person other than the
        Trustee and the Certificateholders and undertakes to perform such duties
        and
        only such duties as are specifically set forth in this Agreement. Except
        upon
        compliance with the provisions of Section 2.4 of this Agreement, no Mortgage
        Note, Mortgage or Mortgage File shall be delivered by the Custodian to the
        Sellers, the Depositor or the Master Servicer or otherwise released from
        the
        possession of the Custodian.

       

      Section
        3.2 Custodian
        May Own Certificates.
        The
        Custodian in its individual or any other capacity may become the owner or
        pledgee of interests in the Mortgage Loans with the same rights it would
        have if
        it were not Custodian.

       

      Section
        3.3 Trustee
        to Pay Custodian’s Fees.
        The
        Trustee covenants and agrees to pay to the Custodian from time to time, and
        the
        Custodian shall be entitled to, reasonable compensation for all services
        rendered by it in the exercise and performance of any of the powers and duties
        hereunder of the Custodian. 

       

      Section
        3.4 Custodian
        May Resign; Trustee May Remove Custodian.
        The
        Custodian may resign from the obligations and duties hereby imposed upon
        it as
        such obligations and duties relate to its acting as Custodian of the Mortgage
        Loans. Upon receiving such written notice of resignation, the Trustee shall
        either take custody of the Mortgage Files itself and give prompt written
        notice
        thereof to the Depositor, the Master Servicer and the Custodian, or promptly
        appoint a successor Custodian by written instrument, in duplicate, one copy
        of
        which instrument shall be delivered to the resigning Custodian and one copy
        to
        the successor Custodian. If the Trustee shall not have taken custody of the
        Mortgage Files and no successor Custodian shall have been so appointed and
        have
        accepted appointment within 30 days after the giving of such written notice
        of
        resignation, the resigning Custodian may petition any court of competent
        jurisdiction for the appointment of a successor Custodian.

       

      The
        Trustee may remove the Custodian at any time upon 60 days prior written notice
        to Custodian. In such event, the Trustee shall appoint, or petition a court
        of
        competent jurisdiction to appoint, a successor Custodian hereunder. Any
        successor Custodian shall be a depository institution subject to supervision
        or
        examination by federal or state authority shall be able to satisfy the other
        requirements contained in Section 3.6 and shall be unaffiliated with the
        Master
        Servicer and the Depositor.

       

      Any
        resignation or removal of the Custodian and appointment of a successor Custodian
        pursuant to any of the provisions of this Section 3.4 shall become effective
        upon acceptance of appointment by the successor Custodian. The Trustee shall
        give prompt notice to the Depositor and the Master Servicer of the appointment
        of any successor Custodian. Notwithstanding anything to the contrary set
        forth
        herein, no successor Custodian shall be appointed by the Trustee without
        the
        prior approval of the Depositor and the Master Servicer.

       

      Section
        3.5 Merger
        or Consolidation of Custodian.
        Any
        Person into which the Custodian may be merged or converted or with which
        it may
        be consolidated, or any Person resulting from any merger, conversion or
        consolidation to which the Custodian shall be a party, or any Person succeeding
        to the business of the Custodian, shall be the successor of the Custodian
        hereunder, 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; provided that such successor is a depository institution
        subject to supervision or examination by federal or state authority and is
        able
        to satisfy the other requirements contained in Section 3.6.

       

      Section
        3.6 Representations
        of the Custodian.
        The
        Custodian hereby represents that it is a depository institution subject to
        supervision or examination by a federal or state authority, has a combined
        capital and surplus of at least $15,000,000 and is qualified to do business
        in
        the jurisdictions in which it will hold any Mortgage File.

       

      Section
        3.7 Limitation
        on Liability.
        Neither
        the Custodian nor any of its directors, officers, agents or employees, shall
        be
        liable for any action taken or omitted to be taken by it or them hereunder
        or in
        connection herewith in good faith and believed (which belief may be based
        upon
        the opinion or advice of counsel selected by it in the exercise of reasonable
        care) by it or them to be within the purview of this Agreement, except for
        its
        or their own negligence, lack of good faith or willful
        misconduct.  The Custodian and any director, officer, employee or
        agent of the Custodian may rely in good faith on any document of any kind
        prima
        facie properly executed and submitted by any person respecting any matters
        arising hereunder. In no event shall the Custodian or its directors, officers,
        agents and employees be held liable for any special, indirect or consequential
        damages resulting from any action taken or omitted to be taken by it or them
        hereunder or in connection herewith even if advised of the possibility of
        such
        damages.

       

      Notwithstanding
        anything herein to the contrary, the Custodian agrees to indemnify the Trust
        Fund, the Trustee and each of their respective officers, directors and agents
        for any and all liabilities, obligations, losses, damages, payments, costs
        or
        expenses of any kind whatsoever that may be imposed on, incurred by or asserted
        against the Trustee or the Trust Fund, due to any negligent performance by
        the
        Custodian of its duties and responsibilities under this Agreement; provided,
        however, that the Custodian shall not be liable to any of the foregoing Persons
        for any amount and any portion of any such amount resulting from the willful
        misfeasance, bad faith or negligence of such person, and the Custodian’s
        reliance on instructions from the Trustee or the Master Servicer. The provisions
        of this Section 3.7 shall survive the termination of this Custodial
        Agreement.

       

      LaSalle
        Bank National Association, as Custodian and in its individual capacity, and
        its
        directors, officers, employees and agents shall be entitled to indemnification
        and defense from the Trust Fund for any loss, liability or expense incurred
        without negligence, willful misconduct, bad faith on their part, arising
        out of,
        or in connection with, the acceptance or administration of the custodial
        arrangement created hereunder, including the costs and expenses of defending
        themselves against any claim or liability in connection with the exercise
        or
        performance of any of their powers or duties hereunder.

       

      Section
        3.8 Limitation
        of Duties.
        The
        Custodian in its capacity as such:

       

      (a) in
        the
        course of its review of the Mortgage Files, shall not be required to make
        determinations (1) of a legal nature or (2) as to the authority of any officer
        or agent of the Master Servicer, Trustee or other entity who has executed
        (or
        certified with respect to) any document which is part of the Mortgage File;
        

       

      (b) shall
        have no duties or obligations other than those specifically set forth herein
        or
        as may subsequently be agreed upon in writing by the parties hereto and shall
        use the same degree of care and skill as is reasonably expected of financial
        institutions acting in comparable capacities;

       

      (c) will
        be
        regarded as making no representations and having no responsibilities as to
        the
        validity, sufficiency, value, genuineness, ownership or transferability of
        any
        Mortgage Loans and will not be required to and will not make any representations
        as to the validity, value or genuineness of the Mortgage Loans;

       

      (d) shall
        not
        be obligated to take any legal action hereunder which might in its judgment
        involve any expense or liability unless it has been furnished with reasonable
        indemnity;

       

      (e) may
        rely
        on and shall be protected in acting upon any certificate, instrument, opinion,
        notice, letter, telegram or other document, or any security, delivered to
        it and
        reasonably believed by it to be genuine and to have been signed by the Master
        Servicer or the Trustee;

       

      (f) may
        rely
        on and shall be protected in acting upon the written instructions of the
        Master
        Servicer or the Trustee and such employees and representatives of the Master
        Servicer and the Trustee, as applicable, may hereinafter designate in
        writing;

       

      (g) may
        consult counsel satisfactory to it (including counsel for the Trustee or
        the
        Master Servicer) and the opinion of such counsel shall be full and complete
        authorization and protection in respect of any action taken, suffered, or
        omitted by it hereunder in good faith and in accordance with the opinion
        of such
        counsel (provided that the fees of such counsel in connection with such
        consultation and opinion shall be paid by the Custodian); and

       

      (h) shall
        not
        be liable for any error of judgment, or for any act done or step taken or
        omitted by it, in good faith, or for any mistake of fact or law, or for anything
        which it may do or refrain from doing in connection therewith, except in
        the
        case of a breach of any of the Custodian’s obligations hereunder, negligence or
        willful misconduct.

       

      The
        Custodian shall be held to the same standard of conduct, and shall be entitled
        to the same protections, privileges and immunities as other custodians acting
        in
        a custodial capacity are generally afforded.

       

      No
        covenant or agreement contained herein shall be deemed to be the covenant
        or
        agreement of any member of the Board of Directors, or any director, officer,
        agent, employee or representative of the Trustee, Master Servicer or the
        Custodian in his or her individual capacity and none of such persons shall
        be
        subject to any personal liability or accountability by reason of the execution
        of this Agreement, whether by virtue of any constitution, statute or rule
        of law
        or by the enforcement of any assessment or penalty, or otherwise.

       

       

      ARTICLE
        IV

      Compliance
        with Regulation AB

       

      Section
        4.1 Intent
        of the parties; Reasonableness.
        The
        parties hereto acknowledge and agree that the purpose of this Article IV
        is to
        facilitate compliance by the Depositor with the provisions of Regulation
        AB and
        related rules and regulations of the Commission. The Depositor shall not
        exercise its right to request delivery of information or other performance
        under
        these provisions other than in good faith, or for purposes other than compliance
        with the Securities Act, the Exchange Act and the rules and regulations of
        the
        Commission under the Securities Act and the Exchange Act. Each of the parties
        hereto acknowledges that interpretations of the requirements of Regulation
        AB
        may change over time, whether due to interpretive guidance provided by the
        Commission or its staff, consensus among participants in the mortgage-backed
        securities markets, advice of counsel, or otherwise, and agrees to comply
        with
        requests made by the Depositor in good faith for delivery of information
        under
        these provisions on the basis of evolving interpretations of Regulation AB.
        The
        Custodian shall cooperate reasonably with the Depositor to deliver to the
        Depositor (including any of its assignees or designees), any and all disclosure,
        statements, reports, certifications, records and any other information necessary
        in the reasonable, good faith determination of the Depositor to permit the
        Depositor to comply with the provisions of Regulation AB.

       

      Section
        4.2 Additional
        Representations and Warranties of the Custodian.
        

       

      (a) The
        Custodian shall be deemed to represent to the Depositor as of the date hereof
        and on each date on which information is provided to the Trustee under Section
        4.3 that, except as disclosed in writing to the Depositor prior to such date:
        (i) there are no aspects of its financial condition that could have a material
        adverse effect on the performance by it of its Custodian obligations under
        this
        Agreement or any other Securitization Transaction as to which it is the
        custodian; (ii) there are no material legal or governmental proceedings pending
        (or known to be contemplated) against it; and (iii) there are no affiliations,
        relationships or transactions relating to the Custodian with respect to the
        Depositor or any sponsor, issuing entity, servicer, originator, significant
        obligor, enhancement or support provider or other material transaction party
        (other than the Trustee, which is the same entity as the Custodian) (as such
        terms are used in Regulation AB) relating to the Securitization Transaction
        contemplated by the Agreement, as identified by the Depositor to the Custodian
        in writing as of the Closing Date (each, a "Transaction Party").

       

      (b) If
        so
        requested by the Depositor on any date following the Closing Date, the Custodian
        shall, within five Business Days following such request, confirm in writing
        the
        accuracy of the representations and warranties set forth in paragraph (a)
        of
        this Section or, if any such representation and warranty is not accurate
        as of
        the date of such confirmation, provide reasonably adequate disclosure of
        the
        pertinent facts, in writing, to the requesting party. Any such request from
        the
        Depositor shall not be given more than once each calendar quarter, unless
        the
        Depositor shall have a reasonable basis for a determination that any of the
        representations and warranties may not be accurate.

       

      Section
        4.3 Additional
        Information to Be Provided by the Custodian.
        For so
        long as the Trust is subject to the reporting obligations under the Exchange
        Act, for the purpose of satisfying the Depositor 's reporting obligation
        under
        the Exchange Act with respect to any class of Offered Certificates, the
        Custodian shall (a) notify the Depositor in writing of any material litigation
        or governmental proceedings pending against the Custodian that would be material
        to Certificateholders, and (b) provide to the Depositor (and the Trustee)
        unless
        the Custodian and the Trustee are the same party a written description of
        such
        proceedings. Any notices and descriptions required under this Section 4.3
        shall
        be given no later than five Business Days prior to the Determination Date
        following the month in which the Custodian has knowledge of the occurrence
        of
        the relevant event. As of the date the Trustee files each Report on Form
        10-D or
        Form 10-K with respect to the Certificates, the Custodian will be deemed
        to
        represent that any information previously provided under this Section 4.3,
        if
        any, is materially correct and does not have any material omissions unless
        the
        Custodian has provided an update to such information.

       

      Section
        4.4 Report
        on Assessment of Compliance and Attestation.
        On or
        before March 15th of each calendar year beginning in 2007, the Custodian
        shall:

       

      (a) deliver
        to the Trustee, the Master Servicer and the Depositor a report regarding
        the
        Custodian’s assessment of compliance (an “Assessment of Compliance”) with the
        Servicing Criteria during the preceding calendar year, as required under
        Rules
        13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. The
        Assessment of Compliance, as set forth in Regulation AB, must contain (i)
        a
        statement by such officer of its responsibility for assessing compliance
        with
        the Servicing Criteria applicable to the Custodian, (ii) a statement by such
        officer that the Custodian used the Servicing Criteria attached as Exhibit
        Five
        hereto, and which will also be attached to the Assessment of Compliance,
        to
        assess compliance with the Servicing Criteria applicable to the Custodian,
        (iii)
        an assessment by such officer of the Custodian’s compliance with the applicable
        Servicing Criteria for the period consisting of the preceding calendar year,
        including disclosure of any material instance of noncompliance with respect
        thereto during such period, which assessment shall be based on the activities
        the Custodian performs with respect to asset-based securities transactions
        taken
        as a whole involving the Custodian, that are backed by the same asset type
        as
        the Mortgage Loans, (iv) a statement that a registered public accounting
        firm
        has issued an attestation report on the Custodian’s Assessment of Compliance for
        the period consisting of the preceding calendar year, and (v) a statement
        as to
        which of the Servicing Criteria, if any, are not applicable to the Custodian,
        which statement shall be based on the activities the Custodian performs with
        respect to asset-backed securities transactions taken as a whole involving
        the
        Custodian, that are backed by the same asset type as the Mortgage Loans.
        Such a
        report at a minimum shall address each of the Servicing Criteria specified
        on
        Exhibit Five hereto which are indicated as applicable to the Custodian; and
        

       

      (b) deliver
        to the Trustee, the Master Servicer and the Depositor a report (an “Attestation
        Report”) by a registered public accounting firm that attests to, and reports on,
        the Assessment of Compliance made by the Custodian, as required by Rules
        13a-18
        and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB, which
        Attestation Report must be made in accordance with standards for attestation
        reports issued or adopted by the Public Company Accounting Oversight Board.
        

       

      (c) Notwithstanding
        the foregoing, an Assessment of Compliance is not required to be delivered
        by
        the Custodian unless it is required as part of a Form 10-K with respect to
        the
        Trust Fund.

       

      Section
        4.5 Indemnification;
        Remedies.

       

      (a) The
        Custodian shall indemnify the Depositor, each affiliate of the Depositor,
        the
        Master Servicer and each broker dealer acting as underwriter, placement agent
        or
        initial purchaser of the Certificates or each Person who controls any of
        such
        parties (within the meaning of Section 15 of the Securities Act and Section
        20
        of the Exchange Act); and the respective present and former directors, officers,
        employees and agents of each of the foregoing, and shall hold each of them
        harmless from and against any losses, damages, penalties, fines, forfeitures,
        legal fees and expenses and related costs, judgments, and any other costs,
        fees
        and expenses that any of them may sustain arising out of or based
        upon:

       

      (b) i) any
        failure by the Custodian to deliver any report on assessment of compliance
        or
        accountants’ attestation when and as required under this Article IV.

       

      (c) In
        the
        case of any failure of performance described in clause (i) of Section 4.5(a),
        the Custodian shall promptly reimburse the Depositor for all costs reasonably
        incurred by the Depositor in order to obtain the information, report,
        certification, accountants’ letter or other material not delivered as required
        by the Custodian.

       

       

      ARTICLE
        V

      MISCELLANEOUS
        PROVISIONS

       

      Section
        5.1 Notices.  All
        notices, requests, consents and demands and other communications required
        under
        this Agreement or pursuant to any other instrument or document delivered
        hereunder shall be in writing and, unless otherwise specifically provided,
        may
        be delivered personally, by telegram or telex, or by registered or certified
        mail, postage prepaid, return receipt requested, at the addresses specified
        on
        the signature page hereof (unless changed by the particular party whose address
        is stated herein by similar notice in writing), in which case the notice
        will be
        deemed delivered when received.

       

      Section
        5.2 Amendments.  No
        modification or amendment of or supplement to this Agreement shall be valid
        or
        effective unless the same is in writing and signed by all parties hereto.
        The
        Trustee shall give prompt notice to the Custodian of any amendment or supplement
        to the Pooling and Servicing Agreement and furnish the Custodian with written
        copies thereof.

       

      Section
        5.3 GOVERNING
        LAW.
        THIS
        AGREEMENT shall be governed by, and construed in accordance with, the laws
        of
        the State of New York, without regard to conflict of laws principles thereof
        other than Section 5-1401 of the New York General Obligations Law.

       

      Section
        5.4 Recordation
        of Agreement.
        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 properties subject
        to
        the Mortgages are situated, and in any other appropriate public recording
        office
        or elsewhere, such recordation to be effected by the Depositor and at the
        Trust’s expense, but only upon direction accompanied by an Opinion of Counsel
        reasonably satisfactory to the Depositor to the effect that the failure to
        effect such recordation is likely to materially and adversely affect 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 constitute but one and the same
        instrument.

       

      Section
        5.5 Severability
        of Provisions.  If
        any one or more of the covenants, agreements, provisions or terms of this
        Agreement shall be for any reason whatsoever 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.

       

      [Signature
        Page Attached]

       

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, this Agreement is executed as of the date first above
        written.

       

      

      
        	
                Address:

                135
                  South LaSalle Street, Suite 1625

                Chicago,
                  Illinois 60603

                Attention:
                  BSABS I Trust, Series 2006-HE5

              	
                LASALLE
                  BANK NATIONAL ASSOCIATION, not individually but solely as
                  Trustee

                By:

                Name: 

                Title: 

              
	 	 
	
                Address:

                2571
                  Busse Rd., Suite 200

                Elk
                  Grove Village, IL 60007

                 

              	
                LASALLE
                  BANK NATIONAL ASSOCIATION, as Custodian

                By:

                Name: 

                Title: 

              
	 	 
	
                Address:

                383
                  Madison Avenue

                New
                  York, New York 10179

              	
                BEAR
                  STEARNS ASSET BACKED SECURITIES I LLC

                By:

                Name: Baron
                  Silverstein

                Title: 
                  Vice President

              
	 	 
	
                Address:

                2780
                  Lake Vista Drive

                Lewisville,
                  Texas 75067

                (Facsimile:
                  (972) 444-2880)

                Attention:
                  President or General Counsel

              	
                EMC
                  MORTGAGE CORPORATION

                By:

                Name: 

                Title: 

              
	 	 
	
                Address:

                909
                  Hidden Ridge Drive, Suite 200

                Irving,
                  Texas 75038

              	
                MASTER
                  FUNDING LLC

                By:

                Name: 

                Title: 

              
	 	 

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      
 

      

        
          	
                  STATE
                    OF ILLINOIS 

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF COOK

                	
                  )

                	 

        

        
 

      

      On
        the
        30th
        day of
        May 2006 before me, a notary public in and for said State, personally appeared
        _________________, known to me to be an _______________ of LaSalle Bank National
        Association, one of the parties that executed the within agreement, and also
        known to me to be the person who executed the within agreement on behalf
        of said
        party and acknowledged to me that such party 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.

       

      

        
          	 	 
	 	
                  Notary
                    Public

                

        

      

       

       

      [SEAL]

       

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

        
          	
                  STATE
                    OF ILLINOIS 

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF COOK

                	
                  )

                	 

        

        

      

      On
        the
        30th
        day of
        May 2006 before me, a notary public in and for said State, personally appeared
        ____________________, known to me to be a(n) ____________________ of LaSalle
        Bank National Association, one of the parties that executed the within
        instrument, and also known to me to be the person who executed it on behalf
        of
        said party, and acknowledged to me that such party 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.

       

      
        

          
            	 	 
	 	
                    Notary
                      Public

                  

          

        

         

      

      [Notarial
        Seal]

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      

        
          	
                  STATE
                    OF NEW YORK 

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF NEW YORK 

                	
                  )

                	 

        

        
 

      

      On
        the
        30th
        day of
        May 2006 before me, a notary public in and for said State, personally appeared
        Baron Silverstein, known to me to be a Vice President of Bear Stearns Asset
        Backed Securities I LLC, and also known to me to be the person who executed
        the
        within instrument on behalf of said party, and acknowledged to me that such
        party 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.

       

       

      
        

          
            	 	 
	 	
                    Notary
                      Public

                  

          

        

         
[SEAL]

       

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

       

      
        
          	
                  STATE
                    OF  TEXAS 

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF  DALLAS 

                	
                  )

                	 

        

        
 

      

      On
        the
        30th
        day of
        May 2006 before me, a notary public in and for said State, personally appeared
        ____________________, known to me to be a(n) ____________________ of EMC
        Mortgage Corporation, one of the parties that executed the within instrument,
        and also known to me to be the person who executed the within instrument
        on
        behalf of said party, and acknowledged to me that such party 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.

       

       

      

        
          	 	 
	 	
                  Notary
                    Public

                

        

      

       

       

      [Notarial
        Seal]

       

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

         

        
          
            	
                    STATE
                      OF  TEXAS 

                  	
                    )

                  	 
	 	
                    )

                  	
                    ss.:

                  
	
                    COUNTY
                      OF  DALLAS 

                  	
                    )

                  	 

          

          

 

        

      

      On
        the
        30th
        day of
        May 2006 before me, a notary public in and for said State, personally appeared
        _____________________, known to me to be a(n) ____________________ of Master
        Funding LLC, one of the parties that executed the within instrument, and
        also
        known to me to be the person who executed the within instrument on behalf
        of
        said party, and acknowledged to me that such party 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.

       

       

      

        
          	 	 
	 	
                  Notary
                    Public

                

        

      

       

       

      [Notarial
        Seal]

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      SCHEDULE
        A

      (Provided
        upon request)

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        ONE

       

      FORM
        OF
        CUSTODIAN INITIAL CERTIFICATION

       

      May
        30,
        2006

       

      LaSalle
        Bank National Association   

      135
        South
        LaSalle Street, Suite 1625    

      Chicago,
        Illinois 60603     

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      (Facsimile:
        (972) 444-2880)

      Attention:
        President or General Counsel 

       

      Attention:
        Bear Stearns Asset Backed Securities I LLC, Series 2006-HE5

       

      

        
          	
                  Re:

                	
                  Custodial
                    Agreement, dated as of May 30, 2006, by and among LaSalle Bank
                    National
                    Association, Bear Stearns Asset Backed Securities I LLC, EMC
                    Mortgage
                    Corporation and Master Funding LLC, relating to Bear Stearns
                    Asset Backed
                    Securities I Trust 2006-HE5, Asset-Backed
                    Certificates, Series 2006-HE5

                	 

        

      

       

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 2.3(a) of the above-captioned Custodial Agreement,
        the
        undersigned, as Custodian, hereby certifies that it has received the following
        documents with respect to each Mortgage Loan listed in the Mortgage Loan
        Schedule, with any exceptions listed on Schedule A attached hereto: (i) an
        original note, including any riders thereto, endorsed without recourse to
        the
        order of LaSalle Bank National Association, as Trustee for certificateholders
        of
        ___________________________ or to blank and showing an unbroken chain of
        endorsements from the original payee thereof to the person endorsing it to
        the
        Trustee; (ii) an original mortgage and, if the related mortgage loan is a
        MERS
        Loan, registered with MERS, noting the presence of the mortgage identification
        number and language indicating that such mortgage loan is a MERS Loan, which
        shall have been recorded (or if the original is not available, a copy) with
        evidence of such recording indicated thereon (or if clause (x) in the proviso
        below applies, shall be in recordable form); (iii) unless the mortgage loan
        is a
        MERS Loan, the assignment (either an original or a copy, which may be in
        the
        form of a blanket assignment if permitted in the jurisdiction in which the
        mortgage property is located) to the Trustee of the mortgage with respect
        to
        each mortgage loan in the name of ___________________________, which shall
        have
        been recorded (of if clause (x) in the proviso below applies, shall be in
        recordable form); (iv) an original or a copy of all intervening assignments
        of
        the mortgage, if any, with evidence of recording thereon; (v) the original
        policy of title insurance or mortgagee’s certificate of title insurance or
        commitment or binder for title insurance, if available, or a copy thereof,
        or,
        in the event that such original title insurance policy is unavailable, a
        photocopy thereof, or in lieu thereof, a current lien search on the related
        mortgaged property; and (vi) originals or copies of all available assumption,
        modification or substitution agreements, if any; provided, however, that
        in lieu
        of the foregoing, the Sellers may deliver the following documents, under
        the
        circumstances set forth below: (x) if any mortgage, assignment thereof to
        the
        Trustee or intervening assignments thereof have been delivered or are being
        delivered to recording offices for recording and have not been returned in
        time
        to permit their delivery as specified above, the Depositor may deliver a
        true
        copy thereof with a certification by the related Seller or the title company
        issuing the commitment for title insurance, on the face of such copy,
        substantially as follows: “Certified to be a true and correct copy of the
        original, which has been transmitted for recording”; and (y) in lieu of the
        mortgage notes relating to the mortgage loans identified in the list attached
        hereto, the Depositor may deliver a lost note affidavit and indemnity and
        a copy
        of the original note, if available.

       

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the above-captioned Custodial Agreement.

       

      

        
          	 	LASALLE
                  BANK
                  NATIONAL ASSOCIATION
	 	 	 
	 	
                  By:

                	 
	 	
                  Name:

                	 
	 	
                  Title:

                	 

        

        

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

              
                

              

            

          

      

      SCHEDULE
        A

       

      (Please
        see tab
        #
        46)

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        TWO

       

      FORM
        OF
        CUSTODIAN INTERIM CERTIFICATION

       

      [DATE]

       

      LaSalle
        Bank National Association   

      135
        South
        LaSalle Street, Suite 1625    

      Chicago,
        Illinois 60603     

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      (Facsimile:
        (972) 444-2880)

      Attention:
        President or General Counsel 

       

      Attention:
        Bear Stearns Asset Backed Securities I LLC, Series 2006-HE5

       

      
        

          
            	
                    Re:

                  	
                    
                      Custodial
                        Agreement, dated as of May 30, 2006, by and among LaSalle
                        Bank National
                        Association, Bear Stearns Asset Backed Securities I LLC,
                        EMC Mortgage
                        Corporation and Master Funding LLC, relating to Bear Stearns
                        Asset Backed
                        Securities I Trust 2006-HE5, Asset-Backed
                        Certificates, Series 2006-HE5 

                    

                  	 

          

        

         

      

       

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 2.3(b) of the above-captioned Custodial Agreement,
        the
        undersigned, as Custodian, hereby certifies that it has received and reviewed
        the documents described in its initial certification dated May 30, 2006 and
        has
        determined that: all documents have been executed and received and that such
        documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule,
        with any exceptions listed on Schedule A attached hereto.

       

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the above-captioned Custodial Agreement.

       

      LASALLE
        BANK NATIONAL ASSOCIATION

       

      

        
          	 	LASALLE
                  BANK
                  NATIONAL ASSOCIATION
	 	 	 
	 	
                  By:

                	 
	 	
                  Name:

                	 
	 	
                  Title:

                	 

        

        

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

              
                

              

            

          

      

      SCHEDULE
        A

       

      (Please
        see tab
        #
        46)

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        THREE

       

       

      FORM
        OF
        CUSTODIAN FINAL CERTIFICATION

       

      [DATE]

       

      LaSalle
        Bank National Association   

      135
        South
        LaSalle Street, Suite 1625    

      Chicago,
        Illinois 60603     

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      (Facsimile:
        (972) 444-2880)

      Attention:
        President or General Counsel 

       

      Attention:
        Bear Stearns Asset Backed Securities I LLC, Series 2006-HE5

       

      
        
          

            
              	
                      Re:

                    	
                      
                        
                          Custodial
                            Agreement, dated as of May 30, 2006, by and among LaSalle
                            Bank National
                            Association, Bear Stearns Asset Backed Securities I LLC,
                            EMC Mortgage
                            Corporation and Master Funding LLC, relating to Bear
                            Stearns Asset Backed
                            Securities I Trust 2006-HE5, Asset-Backed
                            Certificates, Series 2006-HE5 

                        

                      

                    	 

            

          

           

        

      

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 2.3(c) of the above-captioned Custodial Agreement,
        the
        undersigned, as Custodian, hereby certifies that it has received and reviewed
        the documents described in its initial certification dated May 30, 2006 and
        has
        determined that: all documents have been executed and received and that such
        documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule,
        with any exceptions listed on Schedule A attached hereto.

      

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the above-captioned Custodial Agreement.

       

      
        
          	 	LASALLE
                  BANK
                  NATIONAL ASSOCIATION
	 	 	 
	 	
                  By:

                	 
	 	
                  Name:

                	 
	 	
                  Title:

                	 

        

        

          
            
              
              

            

            
              
              

              
                

              

            

            
              
              

              
                

              

            

          

      

      SCHEDULE
        A

       

      (Please
        see tab # 46)

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        FOUR

       

      

       

      FORM
        OF
        REQUEST FOR RELEASE OF DOCUMENTS AND RECEIPT

       

      

      

      To:     [Name/Address
        of Owner]

       

      

      

      Attention:
        

       

      
        
          

            
              	
                      Re:

                    	
                      
                        
                          
                            Custodial
                              Agreement, dated as of May 30, 2006, by and among LaSalle
                              Bank National
                              Association, Bear Stearns Asset Backed Securities I
                              LLC, EMC Mortgage
                              Corporation and Master Funding LLC, relating to Bear
                              Stearns Asset Backed
                              Securities I Trust 2006-HE5, Asset-Backed
                              Certificates, Series 2006-HE5 

                          

                        

                      

                    	 

            

          

           

        

      

       

      In
        connection with the Mortgage Files that you hold pursuant to the Custodial
        Agreement, we request the release, and acknowledge receipt of the Mortgage
        file/[specify document] for the Mortgage Loan described below, the reason
        indicated.

      

      Mortgagor’s
        Name, Address and Zip Code:

      

      

      Mortgage
        Loan Number:

      

      

      Reason
        for Requesting Documents: (check one)

      

      _____
        1.
        Mortgage Loan paid in full. ([The Master Servicer] [the Trustee] hereby
        certifies that all amounts received in connection therewith have been credited
        to
        __________________________________________________________________________.)

      

      _____
        2.
        Mortgage Loan in foreclosure.

      

      _____
        3.
        Repurchase. (The [Master Servicer] [Trustee] hereby certifies that the
        repurchase price has been credited to
        _____________________________________________.)

      

      _____
        4.
        Mortgage Loan liquidated by _______________________________________. ([The
        Master Servicer] [The Trustee] hereby certifies that all proceeds of the
        foreclosure, insurance, condemnation or other liquidation have been finally
        received and credited to _____________________________________.

      

      _____
        5.
        Other (explain):  

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        FIVE

      

      SERVICING
        CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

      

      The
        assessment of compliance to be delivered by the Custodian shall address,
        at a
        minimum, the criteria identified as below as “Applicable Servicing
        Criteria”;

       

      
        	
                 

                Servicing
                  Criteria

              	
                Applicable

                Servicing
                  Criteria

              
	
                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

              	 
	
                 

                 

                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 pool assets 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 pool assets are deposited into the appropriate custodial bank
                  accounts
                  and related bank clearing accounts no more than two business days
                  following receipt and identification, or such other number of days
                  specified in the transaction agreements.

              	 
	
                 

                1122(d)(2)(ii)

              	
                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel.

              	 
	
                 

                 

                 

                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.

              	 
	
                 

                 

                 

                 

                 

                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 institutions” 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. 

              	 
	
                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 45 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
                  reconciliations; 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.

              	 
	 	
                 

                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 pool assets serviced by the
                  servicer.

              	 
	
                 

                 

                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.

              	 
	
                 

                 

                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.

              	 
	
                 

                 

                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.

              	 
	 	
                 

                Pool
                  Asset Administration

              	 
	
                 

                1122(d)(4)(i)

              	
                Collateral
                  or security on pool assets is maintained as required by the transaction
                  agreements or related asset pool documents.

              	
                √

              
	
                 

                1122(d)(4)(ii)

              	
                Pool
                  assets and related documents are safeguarded as required by the
                  transaction agreements.

              	
                √

              
	
                 

                 

                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

              	
                √2 

              
	
                 

                 

                 

                 

                 

                1122(d)(4)(iv)

              	
                Payments
                  on pool assets, including any payoffs, made in accordance with
                  the related
                  pool asset 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 pool asset documents.

              	 
	
                 

                1122(d)(4)(v)

              	
                The
                  servicer’s records regarding the pool assets 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 pool asset (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 of recovery actions (e.g., forbearance plans, modifications
                  and
                  deed 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
                  documents.

              	 
	
                 

                 

                 

                 

                 

                 

                 

                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a pool
                  asset is delinquent in accordance with the transaction agreements.,
                  Such
                  records are maintained in at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent pool assets 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 pool assets with variable
                  rates
                  are computed based on the related pool asset 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 pool asset 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 pool asset documents
                  and state
                  laws; and (C) such funds are returned to the obligor within 3-
                  calendar
                  days of full repayment of the related pool asset, or such other
                  number of
                  days specified in the transaction agreements.

              	 
	
                 

                 

                 

                 

                 

                1122(d)(4)(xi)

              	
                Payments
                  made on behalf of an obligor (such as tax ore 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 service 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 funds 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.

              	 

      

      

      

        

        
          2
            Only
            with respect to the logistics of adding, removing or substituting loan
            files.

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        SIX

      

      ELECTRONIC
        RELEASE REQUEST (Excel)

      
        	
                Collateral
                  Release Tasks 

              	
                 

              
	
                 

              	
                 

              
	
                Required
                  Field Header

              	
                Description

              
	
                 

              	
                 

              
	
                Customer

              	
                Value
                  can be constant of '1018'
                  

              
	
                 

              	
                 

              
	
                Poolnum

              	
                pool
                  number if available, can be left blank as well

              
	
                 

              	
                 

              
	
                Loaned

              	
                EMC
                  loan#, required field

              
	
                 

              	
                 

              
	
                loc_code

              	
                Codes
                  must be mutually agreed upon with custodian. Examples are PDPO=
                  loans
                  released for payoff, FORC = loans released for foreclosure, OLIQ=
                  loans
                  released for repurchase, NLIQ = loans released for
                  non-liquidation/correction.

              
	
                 

              	
                 

              
	
                rel_code

              	
                Codes
                  must be mutually agreed upon with custodian. Examples are 

                1
                  =
                  payoff, 2 = foreclosure, 4 = repurchase, 5 =
                  non-liquidation.

              
	
                 

              	
                 

              
	
                rel_doclist

              	
                Can
                  be left blank

              
	
                 

              	
                 

              
	
                notation

              	
                "Name
                  of Person File Being Released To @ Company Name" (i.e. Sharon
                  Ayers@EMC)

              
	
                 

              	
                 

              
	
                reqstr

              	
                Can
                  be left blank

              
	
                 

              	
                 

              
	
                reqstr_sig

              	
                Signatory
                  code assigned to requestor, TBD

              
	
                 

              	
                 

              
	
                amend

              	
                0
                  =
                  new release request, 1= amend an existing released record (ie.
                  FORC to
                  PDPO)

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        K

       

      FORM
        OF
        BACK-UP CERTIFICATION 

       

       

      Re: The
        [ ]
        agreement dated as of [ ],
        200[ ]
        (the “Agreement”), among [IDENTIFY PARTIES]

       

      I,
        ________________________________, the _______________________ of [NAME OF
        COMPANY], certify to [the Purchaser], [the Depositor], and the [Master Servicer]
        [Trustee], and their officers, with the knowledge and intent that they will
        rely
        upon this certification, that:

       

      (1) I
        have
        reviewed the servicer compliance statement of the Company provided in accordance
        with Item 1123 of Regulation AB (the “Compliance Statement”), the report on
        assessment of the Company’s compliance with the servicing criteria set forth in
        Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance
        with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended
        (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
        Assessment”), the registered public accounting firm’s attestation report
        provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act
        and
        Section 1122(b) of Regulation AB (the “Attestation
        Report”), and all servicing reports, officer’s certificates and other
        information relating to the servicing of the Mortgage Loans by the Company
        during 200[ ] that were delivered by the Company to the [Depositor] [Master
        Servicer] [Trustee] pursuant to the Agreement (collectively, the “Company
        Servicing Information”);

       

      (2) Based
        on
        my knowledge, the Company Servicing Information, taken as a whole, does not
        contain any untrue statement of a material fact or omit to state a material
        fact
        necessary to make the statements made, in the light of the circumstances
        under
        which such statements were made, not misleading with respect to the period
        of
        time covered by the Company Servicing Information;

       

      (3) Based
        on
        my knowledge, all of the Company Servicing Information required to be provided
        by the Company under the Agreement has been provided to the [Depositor] [Master
        Servicer] [Trustee];

       

      (4) I
        am
        responsible for reviewing the activities performed by the Company as servicer
        under the Agreement, and based on my knowledge and the compliance review
        conducted in preparing the Compliance Statement and except as disclosed in
        the
        Compliance Statement, the Servicing Assessment or the Attestation Report,
        the
        Company has fulfilled its obligations under the Agreement in all material
        respects; and

       

      (5) The
        Compliance Statement required to be delivered by the Company pursuant to
        the
        Agreement, and the Servicing Assessment and Attestation Report required to
        be
        provided by the Company and by any Subservicer or Subcontractor pursuant
        to the
        Agreement, have been provided to the [Depositor] [Master Servicer]. Any material
        instances of noncompliance described in such reports have been disclosed
        to the
        [Depositor] [Master Servicer]. Any material instance of noncompliance with
        the
        Servicing Criteria has been disclosed in such reports.

       

       

      Date: _________________________

       

       

      By:

       

      Name:
         ________________________________
        

       

      Title:
         ________________________________

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        L

       

      FORM
        OF
        MORTGAGE LOAN PURCHASE AGREEMENT

       

      MORTGAGE
        LOAN PURCHASE AGREEMENT, dated as of May 30, 2006, as amended and supplemented
        by any and all amendments hereto (collectively, “this
        Agreement”),
        by
        and among EMC MORTGAGE CORPORATION, a Delaware corporation (“EMC”
or
        a
“Mortgage Loan Seller”), MASTER FUNDING LLC, a Delaware limited liability
        company (a “Mortgage Loan Seller” or “Master Funding”, and together with EMC,
        the “Mortgage
        Loan Sellers”)
        and
        BEAR STEARNS ASSET BACKED SECURITIES I LLC, a Delaware limited liability
        company
        (the “Purchaser”).

       

      Upon
        the
        terms and subject to the conditions of this Agreement, each Mortgage Loan
        Seller
        agrees to sell, and the Purchaser agrees to purchase, certain conventional,
        closed-end, subprime, fixed rate and adjustable rate, first and second lien
        mortgage loans secured by one- to four-family residences (collectively, the
        “Mortgage
        Loans”)
        as
        described herein. The Purchaser intends to deposit the Mortgage Loans into
        a
        trust fund (the “Trust
        Fund”)
        and
        create Bear Stearns Asset-Backed Securities I Trust 2006-HE5, Asset-Backed
        Certificates, Series 2006-HE5 (the “Certificates”),
        under
        a pooling and servicing agreement, to be dated as of May 1, 2006 (the
“Pooling
        and Servicing Agreement”),
        among
        the Purchaser, as depositor, EMC, as seller and as master servicer (the
“Master
        Servicer”)
        and
        LaSalle Bank National Association, as trustee (the “Trustee”).

       

      The
        Purchaser has filed with the Securities and Exchange Commission (the
“Commission”)
        a
        registration statement on Form S-3 (Number 333-131374) relating to its
        Asset-Backed Certificates and the offering of certain series thereof (including
        certain classes of the Certificates) from time to time in accordance with
        Rule
        415 under the Securities Act of 1933, as amended, and the rules and regulations
        of the Commission promulgated thereunder (the “Securities
        Act”).
        Such
        registration statement, when it became effective under the Securities Act,
        and
        the prospectus relating to the public offering of certain classes of the
        Certificates by the Purchaser (the “Public
        Offering”),
        as
        each may be amended or supplemented from time to time pursuant to the Securities
        Act or otherwise, are referred to herein as the “Registration
        Statement”
and
        the
“Prospectus,”
        respectively. The “Free
        Writing Prospectus”
shall
        mean the free writing prospectus, dated May 3, 2006, relating to certain
        classes
        of the Certificates. The “Prospectus
        Supplement”
shall
        mean the final supplement, dated May 23, 2006, to the Prospectus, dated April
        5,
        2006, relating to certain classes of the Certificates. With respect to the
        Public Offering of certain classes of the Certificates, Bear, Stearns & Co.
        Inc. (“Bear
        Stearns”)
        and
        the Purchaser have entered into a terms agreement, dated as of May 3, 2006,
        to
        an underwriting agreement, dated April 13, 2006 (together, the “Underwriting
        Agreement”)
        between Bear Stearns and the Purchaser.

       

      Now,
        therefore, in consideration of the premises and the mutual agreements set
        forth
        herein, the parties hereto agree as follows:

       

      SECTION
        1. Definitions.
        Certain
        terms are defined herein. Capitalized terms used herein but not defined herein
        shall have the meanings specified in the Pooling and Servicing Agreement.
        The
        following other terms are defined as follows:

       

      Acquisition
        Price:
        With
        respect to EMC and the sale of the EMC Mortgage Loans, cash in an amount
        equal
        to $          *             
        (plus
        $              *         
        in
        accrued interest) and the retained certificates. With respect to Master Funding
        and the sale of the Master Funding Mortgage Loans, cash in an amount equal
        to
        $           *             
        (plus
        $            *            
        in
        accrued interest).

       

      Bear
        Stearns:
        Bear,
        Stearns & Co. Inc.

       

      Closing
        Date:
        May 30,
        2006.

       

      Custodial
        Agreement:
        An
        agreement, dated as of May 30, 2006, among the Depositor, EMC, Master Funding,
        the Master Servicer, the Trustee and LaSalle Bank National Association as
        custodian (in such capacity, the “Custodian”).

       

      Cut-off
        Date:
        May 1,
        2006.

       

      Cut-off
        Date Balance:
        Shall
        mean $ 411,700,971.74

       

      Deleted
        Mortgage Loan:
        A
        Mortgage Loan replaced or to be replaced by a Replacement Mortgage
        Loan.

       

      Due
        Date:
        As to
        any Mortgage Loan, the date in each month on which the related Scheduled
        Payment
        is due, as set forth in the related Mortgage Note.

       

      EMC:
        EMC
        Mortgage Corporation.

       

      EMC
        Mortgage Loans:
        The
        Mortgage Loans identified as such on the Mortgage Loan Schedule for which
        EMC is
        the applicable Mortgage Loan Seller. 

       

      Group
        II Mortgage Loans:
        The
        Mortgage Loans with respect to Loan Group II.

       

      LaSalle:
        LaSalle
        Bank National Association, or its successors in interest.

       

      Master
        Funding:
        Master
        Funding LLC.

       

      Master
        Funding Mortgage Loan:
        The
        Mortgage Loans identified as such on the Mortgage Loan Schedule for which
        Master
        Funding is the applicable Mortgage Loan Seller. 

       

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

       

      MERS®
        System:
        The
        system of recording transfers of Mortgages electronically maintained by
        MERS.

       

      Moody’s:
        Moody’s
        Investors Service, Inc., or its successors in interest.

       

      Mortgage:
        The
        mortgage, deed of trust or other instrument creating a first or second lien
        on
        or first or second priority ownership interest in an estate in fee simple
        in
        real property securing a Mortgage Note.

       

      Mortgage
        File:
        The
        items referred to in Exhibit
        1
        pertaining to a particular Mortgage Loan and any additional documents required
        to be added to such documents pursuant to this Agreement.

       

      Mortgage
        Rate:
        The
        annual rate of interest borne by a Mortgage Note as stated herein.

       

      Mortgagor:
        The
        obligor(s) on a Mortgage Note.

       

      Net
        Mortgage Rate:
        As to
        each Mortgage Loan, and at any time, the per annum rate equal to the Mortgage
        Rate less the sum of (i) the Servicing Fee Rate, (ii) the Trustee Fee Rate
        and
        (iii) the rate at which the LPMI Fee is calculated, if any.

       

      Opinion
        of Counsel:
        A
        written opinion of counsel, who may be counsel for the Mortgage Loan Sellers
        or
        the Purchaser, reasonably acceptable to the Trustee.

       

      Person:
        Any
        legal person, including any individual, corporation, partnership, joint venture,
        association, joint stock company, trust, unincorporated organization or
        government or any agency or political subdivision thereof.

       

      Purchase
        Price:
        With
        respect to any Mortgage Loan required to be purchased by EMC (on its own
        behalf
        as a Mortgage Loan Seller and on behalf of Master Funding) pursuant to the
        applicable provisions of this Agreement, an amount equal to the sum of (i)
        100%
        of the principal remaining unpaid on such Mortgage Loan as of the date of
        purchase (including if a foreclosure has already occurred, the principal
        balance
        of the related Mortgage Loan at the time the Mortgaged Property was acquired),
        (ii) accrued and unpaid interest thereon at the Mortgage Interest Rate through
        and including the last day of the month of purchase and (iii) any costs and
        damages (if any) incurred by the Trust in connection with any violation of
        such
        Mortgage Loan of any anti-predatory lending laws.

       

      Rating
        Agencies:
        Standard & Poor’s and Moody’s, each a “Rating
        Agency.”

       

      Replacement
        Mortgage Loan:
        A
        mortgage loan substituted for a Deleted Mortgage Loan which must meet on
        the
        date of such substitution the requirements stated herein and in the Pooling
        and
        Servicing Agreement; upon such substitution, such mortgage loan shall be
        a
“Mortgage
        Loan”
        hereunder.

       

      Securities
        Act:
        The
        Securities Act of 1933, as amended.

       

      Standard
        & Poor’s:
        Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. or its
        successors in interest.

       

      Value:
        The
        value of the Mortgaged Property at the time of origination of the related
        Mortgage Loan, such value being the lesser of (i) the value of such property
        set
        forth in an appraisal accepted by the applicable originator of the Mortgage
        Loan
        or (ii) the sales price of such property at the time of
        origination.

       

      SECTION
        2. Purchase
        and Sale of the Mortgage Loans and Related Rights. 

       

      (a) Upon
        satisfaction of the conditions set forth in Section 11 hereof, each Mortgage
        Loan Seller agrees to sell, and the Purchaser agrees to purchase the Mortgage
        Loans sold by such Mortgage Loan Seller having an aggregate outstanding
        principal balance as of the Cut-off Date equal to the Cut-off Date Balance,
        and
        each Mortgage Loan Seller’s interest in the Swap Agreement. 

       

      (b) The
        closing for the purchase and sale of the Mortgage Loans and the closing for
        the
        issuance of the Certificates will take place on the Closing Date at the office
        of the Purchaser’s counsel in New York, New York or such other place as the
        parties shall agree.

       

      (c) Upon
        the
        satisfaction of the conditions set forth in Section 11 hereof, on the Closing
        Date, the Purchaser shall pay to each respective Mortgage Loan Seller the
        related Acquisition Price for the Mortgage Loans sold by such Mortgage Loan
        Seller in immediately available funds by wire transfer to such account or
        accounts as shall be designated by such Mortgage Loan Seller.

       

      SECTION
        3. Mortgage
        Loan Schedules.
        EMC (on
        its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        agrees
        to provide to the Purchaser as of the date hereof a preliminary listing of
        the
        Mortgage Loans (the “Preliminary
        Mortgage Loan Schedule”)
        setting forth the information listed on Exhibit
        2
        to this
        Agreement with respect to each of the Mortgage Loans being sold by the
        respective Mortgage Loan Sellers. If there are changes to the Preliminary
        Mortgage Loan Schedule, EMC (on its own behalf as a Mortgage Loan Seller
        and on
        behalf of Master Funding) shall provide to the Purchaser as of the Closing
        Date
        a final schedule (the “Final
        Mortgage Loan Schedule”)
        setting forth the information listed on Exhibit
        2
        to this
        Agreement with respect to each of the Mortgage Loans being sold by each Mortgage
        Loan Seller to the Purchaser. The Final Mortgage Loan Schedule shall be
        delivered to the Purchaser on the Closing Date, shall be attached to an
        amendment to this Agreement to be executed on the Closing Date by the parties
        hereto and shall be in form and substance mutually agreed to by EMC (on its
        own
        behalf as a Mortgage Loan Seller and on behalf of Master Funding) and the
        Purchaser (the “Amendment”).
        If
        there are no changes to the Preliminary Mortgage Loan Schedule, the Preliminary
        Mortgage Loan Schedule shall be the Final Mortgage Loan Schedule for all
        purposes hereof.

       

      SECTION
        4. Mortgage
        Loan Transfer. 

       

      (a) The
        Purchaser will be entitled to all scheduled payments of principal and interest
        on the Mortgage Loans due after the Cut-off Date (regardless of when actually
        collected) and all payments thereof. Each Mortgage Loan Seller will be entitled
        to all scheduled payments of principal and interest on the Mortgage Loans
        sold
        by it to the Purchaser due on or before the Cut-off Date (including payments
        collected after the Cut-off Date) and all payments thereof. Such principal
        amounts and any interest thereon belonging to the related Mortgage Loan Seller
        as described above will not be included in the aggregate outstanding principal
        balance of the Mortgage Loans as of the Cut-off Date as set forth on the
        Final
        Mortgage Loan Schedule.

       

      (b) Pursuant
        to various conveyancing documents to be executed on the Closing Date and
        pursuant to the Pooling and Servicing Agreement, the Purchaser will assign
        on
        the Closing Date all of its right, title and interest in and to the Mortgage
        Loans to the Trustee for the benefit of the Certificateholders. In connection
        with the transfer and assignment of the Mortgage Loans, each Mortgage Loan
        Seller has delivered or will deliver or cause to be delivered to the Trustee,
        or
        the Custodian on behalf of the Trustee, by the Closing Date or such later
        date
        as is agreed to by the Purchaser and such Mortgage Loan Seller (each of the
        Closing Date and such later date is referred to as a “Mortgage
        File Delivery Date”),
        the
        items of the Custodian’s Mortgage File, provided,
        however,
        that in
        lieu of the foregoing, each Mortgage Loan Seller may deliver the following
        documents, under the circumstances set forth below: (x) in lieu of the original
        Mortgage, assignments to the Trustee or intervening assignments thereof which
        have been delivered, are being delivered or will upon receipt of recording
        information relating to the Mortgage required to be included thereon, be
        delivered to recording offices for recording and have not been returned in
        time
        to permit their delivery as specified above, the related Mortgage Loan Seller
        may deliver a true copy thereof with a certification by such Mortgage Loan
        Seller or the Master Servicer, on the face of such copy, substantially as
        follows: “Certified to be a true and correct copy of the original, which has
        been transmitted for recording;” (y) in lieu of the Mortgage, assignments to the
        Trustee or intervening assignments thereof, if the applicable jurisdiction
        retains the originals of such documents or if the originals are lost (in
        each
        case, as evidenced by a certification from such Mortgage Loan Seller or the
        Master Servicer to such effect), such Mortgage Loan Seller may deliver
        photocopies of such documents containing an original certification by the
        judicial or other governmental authority of the jurisdiction where such
        documents were recorded; and (z) in lieu of the Mortgage Notes relating to
        the
        Mortgage Loans, each identified in the list delivered by the Purchaser to
        the
        Trustee on the Closing Date and attached hereto as Exhibit
        5
        the
        related Mortgage Loan Seller may deliver lost note affidavits and indemnities
        of
        such Mortgage Loan Seller; and provided further, however, that in the case
        of
        Mortgage Loans which have been prepaid in full after the Cut-off Date and
        prior
        to the Closing Date, such Mortgage Loan Seller, in lieu of delivering the
        above
        documents, may deliver to the Trustee a certification by such Mortgage Loan
        Seller or the Master Servicer to such effect. Each Mortgage Loan Seller shall
        deliver such original documents (including any original documents as to which
        certified copies had previously been delivered) or such certified copies
        to the
        Trustee, or the Custodian on behalf of the Trustee, promptly after they are
        received. EMC (on its own behalf as a Mortgage Loan Seller and on behalf
        of
        Master Funding) shall cause the Mortgage and intervening assignments, if
        any,
        and the assignment of the Mortgage to be recorded not later than 180 days
        after
        the Closing Date unless such assignment is not required to be recorded under
        the
        terms set forth in Section 6(a) hereof.

       

      (c) In
        connection with the assignment of any Mortgage Loan registered on the MERS®
System, EMC (on its own behalf as a Mortgage Loan Seller and on behalf of
        Master
        Funding) further agrees that it will cause, at EMC’s own expense, within 30 days
        after the Closing Date, the MERS® System to indicate that such Mortgage Loans
        have been assigned by the related Mortgage Loan Seller to the Purchaser and
        by
        the Purchaser to the Trustee in accordance with this Agreement for the benefit
        of the Certificateholders by including (or deleting, in the case of Mortgage
        Loans which are repurchased in accordance with this Agreement) in such computer
        files (a) the code in the field which identifies the specific Trustee and
        (b)
        the code in the field “Pool Field” which identifies the series of the
        Certificates issued in connection with such Mortgage Loans. EMC (on its own
        behalf as a Mortgage Loan Seller and on behalf of Master Funding) further
        agrees
        that it will not, and will not permit the Master Servicer to, and the Master
        Servicer agrees that it will not, alter the codes referenced in this paragraph
        with respect to any Mortgage Loan during the term of the Pooling and Servicing
        Agreement unless and until such Mortgage Loan is repurchased in accordance
        with
        the terms of the Pooling and Servicing Agreement.

       

      (d) Each
        Mortgage Loan Seller and the Purchaser acknowledge hereunder that all of
        the
        Mortgage Loans will ultimately be assigned to LaSalle Bank National Association,
        as Trustee for the benefit of the Certificateholders, on the date
        hereof.

       

      SECTION
        5. Examination
        of Mortgage Files. 

       

      (a) On
        or
        before the Mortgage File Delivery Date, each Mortgage Loan Seller will have
        made
        the related Mortgage Files available to the Purchaser or its agent for
        examination which may be at the offices of the Trustee or such Mortgage Loan
        Seller and/or such Mortgage Loan Seller’s custodian. The fact that the Purchaser
        or its agent has conducted or has failed to conduct any partial or complete
        examination of the related Mortgage Files shall not affect the Purchaser’s
        rights to demand cure, repurchase, substitution or other relief as provided
        in
        this Agreement. In furtherance of the foregoing, each Mortgage Loan Seller
        shall
        make the related Mortgage Files available to the Purchaser or its agent from
        time to time so as to permit the Purchaser to confirm such Mortgage Loan
        Seller’s compliance with the delivery and recordation requirements of this
        Agreement and the Pooling and Servicing Agreement. In addition, upon request
        of
        the Purchaser, each Mortgage Loan Seller agrees to provide to the Purchaser,
        Bear Stearns and to any investors or prospective investors in the Certificates
        information regarding the Mortgage Loans and their servicing, to make the
        related Mortgage Files available to the Purchaser, Bear Stearns and to such
        investors or prospective investors (which may be at the offices of the related
        Mortgage Loan Seller and/or such Mortgage Loan Seller’s custodian) and to make
        available personnel knowledgeable about the related Mortgage Loans for
        discussions with the Purchaser, Bear Stearns and such investors or prospective
        investors, upon reasonable request during regular business hours, sufficient
        to
        permit the Purchaser, Bear Stearns and such investors or potential investors
        to
        conduct such due diligence as any such party reasonably believes is
        appropriate.

       

      (b) Pursuant
        to the Pooling and Servicing Agreement, on the Closing Date the Trustee (or
        the
        Custodian as obligated under the Custodial Agreement) for the benefit of
        the
        Certificateholders will review items of the Mortgage Files as set forth on
        Exhibit
        1
        and will
        deliver to EMC (on its own behalf as a Mortgage Loan Seller and on behalf
        of
        Master Funding) an initial certification in the form attached as Exhibit
        One to
        the Custodial Agreement.

       

      (c) Within
        90
        days of the Closing Date, the Trustee or the Custodian on its behalf shall,
        in
        accordance with the provisions of Section 2.02 of the Pooling and Servicing
        Agreement, deliver to EMC (on its own behalf as a Mortgage Loan Seller and
        on
        behalf of Master Funding) and the Trustee an Interim Certification in the
        form
        attached as Exhibit Two to the Custodial Agreement to the effect that all
        such
        documents have been executed and received and that such documents relate
        to the
        Mortgage Loans identified on the Mortgage Loan Schedule, except for any
        exceptions listed on Schedule A attached to such Interim Certification. The
        Custodian shall be under no duty or obligation to inspect, review or examine
        said documents, instruments, certificates or other papers to determine that
        the
        same 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.

       

      (d) The
        Trustee or the Custodian on its behalf will review the Mortgage Files within
        180
        days of the Closing Date and will deliver to EMC and the Master Servicer,
        and if
        reviewed by the Custodian, the Trustee, a final certification substantially
        in
        the form of Exhibit Three to the Custodial Agreement. If the Trustee or the
        Custodian on its behalf is unable to deliver a final certification with respect
        to the items listed in Exhibit
        1
        due to
        any document that is missing, has not been executed, is unrelated, determined
        on
        the basis of the Mortgagor name, original principal balance and loan number,
        to
        the Mortgage Loans identified in the Final Mortgage Loan Schedule (a
“Material
        Defect”),
        the
        Trustee or the Custodian on its behalf shall notify EMC of such Material
        Defect.
        EMC (on its own behalf as a Mortgage Loan Seller and on behalf of Master
        Funding) shall correct or cure any such Material Defect within 90 days from
        the
        date of notice from the Trustee, the Depositor or the Master Servicer of
        the
        Material Defect and if EMC (on its own behalf as a Mortgage Loan Seller and
        on
        behalf of Master Funding) does not correct or cure such Material Defect within
        such period and such defect materially and adversely affects the interests
        of
        the Certificateholders in the related Mortgage Loan, EMC (on its own behalf
        as a
        Mortgage Loan Seller and on behalf of Master Funding) will, in accordance
        with
        the terms of the Pooling and Servicing Agreement, within 90 days of the date
        of
        notice, provide the Trustee with a Replacement Mortgage Loan (if within two
        years of the Closing Date) or purchase the related Mortgage Loan at the
        applicable Purchase Price; provided,
        however,
        that if
        such defect relates solely to the inability of EMC (on its own behalf as
        a
        Mortgage Loan Seller and on behalf of Master Funding) to deliver the original
        security instrument or intervening assignments thereof, or a certified copy
        because the originals of such documents, or a certified copy, have not been
        returned by the applicable jurisdiction, EMC shall not be required to purchase
        such Mortgage Loan if EMC (on its own behalf as a Mortgage Loan Seller and
        on
        behalf of Master Funding) delivers such original documents or certified copy
        promptly upon receipt, but in no event later than 360 days after the Closing
        Date. The foregoing repurchase obligation shall not apply in the event that
        EMC
        (on its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        cannot deliver such original or copy of any document submitted for recording
        to
        the appropriate recording office in the applicable jurisdiction because such
        document has not been returned by such office; provided that EMC (on its
        own
        behalf as a Mortgage Loan Seller and on behalf of Master Funding) shall instead
        deliver a recording receipt of such recording office or, if such receipt
        is not
        available, a certificate of EMC (on its own behalf as a Mortgage Loan Seller
        and
        on behalf of Master Funding) or a Servicing Officer confirming that such
        documents have been accepted for recording, and delivery to the Trustee shall
        be
        effected by EMC (on its own behalf as a Mortgage Loan Seller and on behalf
        of
        Master Funding) within thirty days of its receipt of the original recorded
        document.

       

      (e) At
        the
        time of any substitution, EMC (on its own behalf as a Mortgage Loan Seller
        and
        on behalf of Master Funding) shall deliver or cause to be delivered the
        Replacement Mortgage Loan, the related Mortgage File and any other documents
        and
        payments required to be delivered in connection with a substitution pursuant
        to
        the Pooling and Servicing Agreement. At the time of any purchase or
        substitution, the Trustee shall (i) assign the selected Mortgage Loan to
        EMC (on
        its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        and
        shall release or cause the Custodian to release the documents (including,
        but
        not limited to, the Mortgage, Mortgage Note and other contents of the Mortgage
        File) in the possession of the Trustee or the Custodian, as applicable relating
        to the Deleted Mortgage Loan and (ii) execute and deliver such instruments
        of
        transfer or assignment, in each case without recourse, as shall be necessary
        to
        vest in EMC (on its own behalf as a Mortgage Loan Seller and on behalf of
        Master
        Funding) title to such Deleted Mortgage Loan.

       

      SECTION
        6. Recordation
        of Assignments of Mortgage. 

       

      (a) EMC
        (on
        its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        will,
        promptly after the Closing Date, cause each Mortgage and each assignment
        of
        Mortgage from the Mortgage Loan Sellers to the Trustee, and all unrecorded
        intervening assignments, if any, delivered on or prior to the Closing Date,
        to
        be recorded in all recording offices in the jurisdictions where the related
        Mortgaged Properties are located; provided,
        however,
        EMC (on
        its own behalf as a Mortgage Loan Seller or on behalf of Master Funding)
        need
        not cause to be recorded any assignment which relates to a Mortgage Loan
        that is
        a MOM Loan or for which the related Mortgaged Property is located in any
        jurisdiction under the laws of which, as evidenced by an Opinion of Counsel
        delivered by EMC (on its own behalf as a Mortgage Loan Seller and on behalf
        of
        Master Funding) to the Trustee and the Rating Agencies, the recordation of
        such
        assignment is not necessary to protect the Trustee’s interest in the related
        Mortgage Loan; provided,
        however,
        notwithstanding the delivery of any Opinion of Counsel, each assignment of
        Mortgage shall be submitted for recording by EMC (on its own behalf as a
        Mortgage Loan Seller and on behalf of Master Funding) in the manner described
        above, at no expense to the Trust Fund or Trustee, upon the earliest to occur
        of
        (i) reasonable direction by the Holders of Certificates evidencing Percentage
        Interests aggregating not less than 25% of the Trust, (ii) the occurrence
        of an
        Event of Default, (iii) the occurrence of a bankruptcy, insolvency or
        foreclosure relating to EMC under the Pooling and Servicing Agreement, (iv)
        the
        occurrence of a servicing transfer or an assignment of the servicing as
        described in Section 7.07 of the Pooling and Servicing Agreement or (iv)
        with
        respect to any one assignment of Mortgage, the occurrence of a bankruptcy,
        insolvency or foreclosure relating to the Mortgagor under the related
        Mortgage.

       

      While
        each such Mortgage or assignment is being recorded, if necessary, EMC (on
        its
        own behalf as a Mortgage Loan Seller and on behalf of Master Funding) shall
        leave or cause to be left with the Trustee or the Custodian on its behalf
        a
        certified copy of such Mortgage or assignment. In the event that, within
        180
        days of the Closing Date, the Trustee has not been provided with an Opinion
        of
        Counsel as described above or received evidence of recording with respect
        to
        each Mortgage Loan delivered to the Purchaser pursuant to the terms hereof
        or as
        set forth above and the related Mortgage Loan is not a MOM Loan, the failure
        to
        provide evidence of recording or such Opinion of Counsel shall be considered
        a
        Material Defect, and the provisions of Section 5(c) and (d) shall apply.
        All
        customary recording fees and reasonable expenses relating to the recordation
        of
        the assignments of mortgage to the Trustee or the Opinion of Counsel, as
        the
        case may be, shall be borne by EMC.

       

      (b) It
        is the
        express intent of the parties hereto that the conveyance of the Mortgage
        Loans
        by each Mortgage Loan Seller to the Purchaser, as contemplated by this Agreement
        be, and be treated as, a sale. It is, further, not the intention of the parties
        that such conveyance be deemed a pledge of the Mortgage Loans by such Mortgage
        Loan Seller to the Purchaser to secure a debt or other obligation of that
        Mortgage Loan Seller. However, in the event that, notwithstanding the intent
        of
        the parties, the Mortgage Loans are held by a court to continue to be property
        of such Mortgage Loan Seller, then (a) this Agreement shall also be deemed
        to be
        a security agreement within the meaning of Articles 8 and 9 of the applicable
        Uniform Commercial Code; (b) the transfer of the Mortgage Loans provided
        for
        herein shall be deemed to be a grant by such Mortgage Loan Seller to the
        Purchaser of a security interest in all of such Mortgage Loan Seller’s right,
        title and interest in and to the Mortgage Loans and all amounts payable to
        the
        holders of the Mortgage Loans in accordance with the terms thereof and all
        proceeds of the conversion, voluntary or involuntary, of the foregoing into
        cash, instruments, securities or other property, to the extent the Purchaser
        would otherwise be entitled to own such Mortgage Loans and proceeds pursuant
        to
        Section 4 hereof, including all amounts, other than investment earnings,
        from
        time to time held or invested in any accounts created pursuant to the Pooling
        and Servicing Agreement, whether in the form of cash, instruments, securities
        or
        other property; (c) the possession by the Purchaser or the Trustee (or the
        Custodian on its behalf) of Mortgage Notes and such other items of property
        as
        constitute instruments, money, negotiable documents or chattel paper shall
        be
        deemed to be “possession by the secured party” for purposes of perfecting the
        security interest pursuant to Section 9-305 (or comparable provision) of
        the
        applicable Uniform Commercial Code; and (d) notifications to persons holding
        such property, and acknowledgments, receipts or confirmations from persons
        holding such property, shall be deemed notifications to, or acknowledgments,
        receipts or confirmations from, financial intermediaries, bailees or agents
        (as
        applicable) of the Purchaser for the purpose of perfecting such security
        interest under applicable law. Any assignment of the interest of the Purchaser
        pursuant to any provision hereof or pursuant to the Pooling and Servicing
        Agreement shall also be deemed to be an assignment of any security interest
        created hereby. EMC (on its own behalf as a Mortgage Loan Seller and on behalf
        of Master Funding) and the Purchaser shall, to the extent consistent with
        this
        Agreement, take such actions as may be reasonably necessary to ensure that,
        if
        this Agreement were deemed to create a security interest in the Mortgage
        Loans,
        such security interest would be deemed to be a perfected security interest
        of
        first priority under applicable law and will be maintained as such throughout
        the term of the Pooling and Servicing Agreement.

       

      SECTION
        7. Representations
        and Warranties of EMC Concerning the Mortgage Loans.
        EMC
hereby
        represents and warrants to the Purchaser as of the Closing Date or such other
        date as may be specified below with respect to each Mortgage Loan:

       

      (a) The
        information set forth in the Mortgage Loan Schedule hereto is true and correct
        in all material respects.

       

      (b) Immediately
        prior to the transfer to the Purchaser, the related Mortgage Loan Seller
        was the
        sole owner of beneficial title and holder of each Mortgage and Mortgage Note
        relating to the Mortgage Loans and is conveying the same free and clear of
        any
        and all liens, claims, encumbrances, participation interests, equities, pledges,
        charges or security interests of any nature and such Mortgage Loan Seller
        has
        full right and authority to sell or assign the same pursuant to this
        Agreement.

       

      (c) Each
        Mortgage Loan at the time it was made complied in all material respects with
        all
        applicable laws and regulations, including, without limitation, usury, equal
        credit opportunity, disclosure and recording laws and all applicable predatory,
        abusive and fair lending laws; and each Mortgage Loan has been serviced in
        all
        material respects in accordance with all applicable laws and regulations,
        including, without limitation, usury, equal credit opportunity, disclosure
        and
        recording laws and all applicable anti-predatory lending laws and the terms
        of
        the related Mortgage Note, the Mortgage and other loan documents.

       

      (d) There
        is
        no monetary default existing under any Mortgage or the related Mortgage Note
        and
        there is no material event which, with the passage of time or with notice
        and
        the expiration of any grace or cure period, would constitute a default, breach
        or event of acceleration; and neither the related Mortgage Loan Seller, any
        of
        its affiliates nor any servicer of any related Mortgage Loan has taken any
        action to waive any default, breach or event of acceleration; and no foreclosure
        action is threatened or has been commenced with respect to the Mortgage
        Loan.

       

      (e) The
        terms
        of the Mortgage Note and the Mortgage have not been impaired, waived, altered
        or
        modified in any respect, except by written instruments, (i) if required by
        law
        in the jurisdiction where the Mortgaged Property is located, or (ii) to protect
        the interests of the Trustee on behalf of the Certificateholders.

       

      (f) No
        selection procedure reasonably believed by the related Mortgage Loan Seller
        to
        be adverse to the interests of the Certificateholders was utilized in selecting
        the Mortgage Loans.

       

      (g) Each
        Mortgage is a valid and enforceable first or second lien on the property
        securing the related Mortgage Note and each Mortgaged Property is owned by
        the
        Mortgagor in fee simple (except with respect to common areas in the case
        of
        condominiums, PUDs and de minimis
        PUDs) or
        by leasehold for a term longer than the term of the related Mortgage, subject
        only to (i) the lien of current real property taxes and assessments, (ii)
        covenants, conditions and restrictions, rights of way, easements and other
        matters of public record as of the date of recording of such Mortgage, such
        exceptions being acceptable to mortgage lending institutions generally or
        specifically reflected in the appraisal obtained in connection with the
        origination of the related Mortgage Loan or referred to in the lender’s title
        insurance policy delivered to the originator of the related Mortgage Loan
        and
        (iii) other matters to which like properties are commonly subject which do
        not
        materially interfere with the benefits of the security intended to be provided
        by such Mortgage.

       

      (h) There
        is
        no mechanics’ lien or claim for work, labor or material affecting the premises
        subject to any Mortgage which is or may be a lien prior to, or equal with,
        the
        lien of such Mortgage except those which are insured against by the title
        insurance policy referred to in clause (m) below.

       

      (i) There
        was
        no delinquent tax or assessment lien against the property subject to any
        Mortgage, except where such lien was being contested in good faith and a
        stay
        had been granted against levying on the property.

       

      (j) There
        is
        no valid offset, defense or counterclaim to any Mortgage Note or Mortgage,
        including the obligation of the Mortgagor to pay the unpaid principal and
        interest on such Mortgage Note.

       

      (k) The
        physical property subject to any Mortgage is free of material damage and
        is in
        good repair and there is no proceeding pending or threatened for the total
        or
        partial condemnation of any Mortgaged Property.

       

      (l) The
        Mortgaged Property and all improvements thereon comply with all requirements
        of
        any applicable zoning and subdivision laws and ordinances.

       

      (m) A
        lender’s title insurance policy (on an ALTA or CLTA form) or binder, or other
        assurance of title customary in the relevant jurisdiction therefor in a form
        acceptable to Fannie Mae or Freddie Mac, was issued on the date that each
        Mortgage Loan was created by a title insurance company which, to the best
        of the
        related Mortgage Loan Seller’s knowledge, was qualified to do business in the
        jurisdiction where the related Mortgaged Property is located, insuring such
        Mortgage Loan Seller and its successors and assigns that the Mortgage is
        a first
        priority lien on the related Mortgaged Property in the original principal
        amount
        of the Mortgage Loan. The related Mortgage Loan Seller is the sole insured
        under
        such lender’s title insurance policy, and such policy, binder or assurance is
        valid and remains in full force and effect, and each such policy, binder
        or
        assurance shall contain all applicable endorsements including a negative
        amortization endorsement, if applicable.

       

      (n) At
        the
        time of origination, each Mortgaged Property was the subject of an appraisal
        which conformed to the underwriting requirements of the originator of the
        Mortgage Loan and, the appraisal is in a form acceptable to Fannie Mae or
        Freddie Mac. 

       

      (o) The
        improvements on each Mortgaged Property securing a Mortgage Loan are insured
        (by
        an insurer which is acceptable to the related Mortgage Loan Seller) against
        loss
        by fire and such hazards as are covered under a standard extended coverage
        endorsement in the locale in which the Mortgaged Property is located, in
        an
        amount which is not less than the lesser of the maximum insurable value of
        the
        improvements securing such Mortgage Loan or the outstanding principal balance
        of
        the Mortgage Loan, but in no event in an amount less than an amount that
        is
        required to prevent the Mortgagor from being deemed to be a co-insurer
        thereunder; if the improvement on the Mortgaged Property is a condominium
        unit,
        it is included under the coverage afforded by a blanket policy for the
        condominium project; if upon origination of the related Mortgage Loan, the
        improvements on the Mortgaged Property were in an area identified as a federally
        designated flood area, a flood insurance policy is in effect in an amount
        representing coverage not less than the least of (i) the outstanding principal
        balance of the Mortgage Loan, (ii) the restorable cost of improvements located
        on such Mortgaged Property or (iii) the maximum coverage available under
        federal
        law; and each Mortgage obligates the Mortgagor thereunder to maintain the
        insurance referred to above at the Mortgagor’s cost and expense.

       

      (p) Each
        Mortgage Loan constitutes a “qualified mortgage” under Section 860G(a)(3)(A) of
        the Code and Treasury Regulation Section 1.860G-2(a)(1), (2), (4), (5), (6),
        (7)
        and (9) without reliance on the provisions of Treasury Regulation Section
        1.860G-2(a)(3) or Treasury Regulation Section 1.860G-2(f)(2) or any other
        provision that would allow a Mortgage Loan to be treated as a “qualified
        mortgage” notwithstanding its failure to meet the requirements of Section
        860G(a)(3)(A) of the Code and Treasury Regulation Section 1.860G-2(a)(1),
        (2),
        (4), (5), (6), (7) and (9).

       

      (q) None
        of
        the Mortgage Loans are (a) loans subject to 12 CFR Part 226.31, 12 CFR Part
        226.32 or 12 CFR Part 226.34 of Regulation Z, the regulation implementing
        TILA,
        which implements the Home Ownership and Equity Protection Act of 1994, as
        amended or (b) “high cost home,” “covered” (excluding home loans defined as
“covered home loans” in the New Jersey Home
        Ownership Security Act of 2002 that were originated between November 26,
        2003
        and July 7, 2004), “high risk home” or “predatory” loans under any applicable
        state, federal or local law (or a similarly classified loan using different
        terminology under a law imposing heightened regulatory scrutiny or additional
        legal liability for residential mortgage loans having high interest rates,
        points and/or fees).

       

      (r) The
        information set forth in Schedule A of the Prospectus Supplement with respect
        to
        the Mortgage Loans
        is true
        and correct in all material respects.

       

      (s) No
        Mortgage Loan (a) is a “high cost loan” or “covered loan” as applicable (as such
terms
        are
        defined in the then current Standard & Poor’s LEVELS® Glossary, which is now
        Version 5.6(d), Appendix E, attached hereto as Exhibit 6) or (b) was originated
        on or after October 1, 2002 through March 6, 2003 and is governed by the
        Georgia
        Fair Lending Act. 

       

      (t) Each
        Mortgage Loan was originated in accordance with the underwriting guidelines
        of
        the related originator.

       

      (u) Each
        original Mortgage has been recorded or is in the process of being recorded
        in
        accordance with the requirements of Section 2.01 of the Pooling and Servicing
        Agreement in the appropriate jurisdictions wherein such recordation is required
        to perfect the lien thereof for the benefit of the Trust Fund.

       

      (v) The
        related Mortgage File contains each of the documents and instruments listed
        in
        Section 2.01 of the Pooling and Servicing Agreement, subject to any exceptions,
        substitutions and qualifications as are set forth in such Section.

       

      (w) The
        Mortgage Loans are currently being serviced in accordance with accepted
        servicing practices.

       

      (x) With
        respect to each Mortgage Loan that has a prepayment penalty feature, each
        such
        prepayment penalty is enforceable and will be enforced by the related Mortgage
        Loan Seller and each prepayment penalty
        is
        permitted pursuant to federal, state and local law, provided
        that
        (i) no
        Mortgage Loan will impose a prepayment penalty for a term in excess of five
        years from the date such Mortgage Loan was originated and (ii) such prepayment
        penalty is at least equal to the lesser of (A) the maximum amount permitted
        under applicable law and (B) six months interest at the related Mortgage
        Interest Rate on the amount prepaid in excess of 20% of the original principal
        balance of such Mortgage Loan.

       

      (y) If
        any of
        the Mortgage Loans are secured by a leasehold interest, with respect to each
        leasehold interest: the use of leasehold estates for residential properties
        is
        an accepted practice in the area where the related Mortgaged Property is
        located; residential property in such area consisting of leasehold estates
        is
        readily marketable; the lease is recorded and no party is in any way in breach
        of any provision of such lease; the leasehold is in full force and effect
        and is
        not subject to any prior lien or encumbrance by which the leasehold could
        be
        terminated or subject to any charge or penalty; and the remaining term of
        the
        lease does not terminate less than ten years after the maturity date of such
        Mortgage Loan.

       

      (z) With
        respect to the Group II Mortgage Loans, there is no Mortgage Loan that was
        originated on or after October 1, 2002 and before March 7, 2003, which is
        secured by property located in the State of Georgia. With respect to the
        Group
        II Mortgage Loans, there is no mortgage loan that was originated on or after
        March 7, 2003, which is a “high cost home loan” as defined under the Georgia
        Fair Lending Act.

       

      (aa) With
        respect to the Group II Mortgage Loans, no borrower obtained a prepaid
        single-premium credit-life, credit disability, credit unemployment or credit
        property insurance policy in connection with the origination of the mortgage
        loan. 

       

      (bb) With
        respect to the Group II Mortgage Loans, with respect to any mortgage loan
        underlying the Security that contains a provision permitting imposition of
        a
        penalty upon a prepayment prior to maturity: (a) the mortgage loan provides
        some
        benefit to the borrower (e.g., a rate or fee reduction) in exchange for
        accepting such prepayment penalty; (b) the mortgage loan’s originator had a
        written policy of offering the borrower, or requiring any third-party brokers
        to
        offer the borrower, the option of obtaining a mortgage loan that did not
        require
        payment of such a penalty; (c) the prepayment penalty was adequately disclosed
        to the borrower pursuant to applicable state and federal law; and (d) no
        subprime loan originated on or after October 1, 2002 underlying the Security
        will provide for prepayment penalties for a term in excess of three years
        and
        any loans originated prior to such date, and any non-subprime loans, will
        not
        provide for prepayment penalties for a term in excess of five years; in each
        case unless the loan was modified to reduce the prepayment period to no more
        than three years from the date of the note and the borrower was notified
        in
        writing of such reduction in prepayment period. 

       

      (cc) With
        respect to the Group II Mortgage Loans, the borrower was not encouraged or
        required to select a mortgage loan product offered by the mortgage loan’s
        originator which is a higher cost product designed for less creditworthy
        borrowers, taking into account such facts as, without limitation, the mortgage
        loan’s requirements and the borrower’s credit history, income, assets and
        liabilities.

       

      (dd) 
        With
        respect to the Group II Mortgage Loans, the methodology used in underwriting
        the
        extension of credit for each Group II Mortgage Loan in the trust did not
        rely on
        the extent of the borrower’s equity in the collateral as the principal
        determining factor in approving such extension of credit. The methodology
        employed objective criteria that related such facts as, without limitation,
        the
        borrower’s credit history, income, assets or liabilities, to the proposed
        mortgage payment and, based on such methodology, the Mortgage Loan’s originator
        made a reasonable determination that at the time of origination the borrower
        had
        the ability to make timely payments on the Mortgage Loan. 

       

      (ee) With
        respect to the Group II Mortgage Loans, no borrower was charged “points and
        fees” in an amount greater than (a) $1,000 or (b) 5% of the principal amount of
        such mortgage loan, whichever is greater. For purposes of this representation,
        “points and fees” (x) include origination, underwriting, broker and finder’s
        fees and charges that the lender imposed as a condition of making the mortgage
        loan, whether they are paid to the lender or a third party; and (y) exclude
        bona
        fide discount points, fees paid for actual services rendered in connection
        with
        the origination of the mortgage (such as attorneys’ fees, notaries fees and fees
        paid for property appraisals, credit reports, surveys, title examinations
        and
        extracts, flood and tax certifications, and home inspections); the cost of
        mortgage insurance or credit-risk price adjustments; the costs of title,
        hazard,
        and flood insurance policies; state and local transfer taxes or fees; escrow
        deposits for the future payment of taxes and insurance premiums; and other
        miscellaneous fees and charges that, in total, do not exceed 0.25 percent
        of the
        loan amount. 

       

      (ff) With
        respect to any Group II Mortgage Loans, originated on or after August 1,
        2004
        and underlying the Security, neither the related mortgage nor the related
        mortgage note requires the borrower to submit to arbitration to resolve any
        dispute arising out of or relating in any way to the mortgage loan transaction.
        

       

      (gg) No
        Group
        II Mortgage Loan was originated in connection with a manufactured housing
        unit.

       

      (hh) The
        original principal balance of each first lien Group II Mortgage Loan is within
        Freddie Mac’s dollar amount limits for conforming one- to four-family Mortgage
        Loans in existence as of the Closing Date. 

       

      (ii) With
        respect to any second lien Group II Mortgage Loan, (a) such lien is on a
        one-to
        four-family residence that is the principal residence of the Mortgagor at
        the
        time of the origination of the second lien, (b) the original loan amount
        does
        not exceed $208,500 or, in Alaska, Guam, Hawaii or the Virgin Islands, $312,750,
        without regard to the number of units and (c) the aggregate original principal
        balance of the first and second lien loans on the related property does not
        exceed Freddie Mac’s applicable loan limits for first-lien mortgage loans for
        that property type in existence as of the Closing Date;

       

      (jj) None
        of
        the Group II Mortgage Loans are seasoned more than 12 months.

       

      It
        is
        understood and agreed that the representations and warranties set forth in
        this
        Section 7 will inure to the benefit of the Purchaser, its successors and
        assigns, notwithstanding any restrictive or qualified endorsement on any
        Mortgage Note or assignment of Mortgage or the examination of any Mortgage
        File.
        Upon any substitution for a Mortgage Loan, the representations and warranties
        set forth above shall be deemed to be made by the related Mortgage Loan Seller
        as to any Replacement Mortgage Loan as of the date of substitution.

       

      Upon
        discovery or receipt of notice by EMC, the Purchaser or the Trustee of a
        breach
        of any representation or warranty of EMC set forth in this Section 7 which
        materially and adversely affects the value of the interests of the Purchaser,
        the Certificateholders or the Trustee in any of the Mortgage Loans delivered
        to
        the Purchaser pursuant to this Agreement, the party discovering or receiving
        notice of such breach shall give prompt written notice to the others. It
        is
        understood and agreed that a breach of any one of the representations contained
        in clauses (c), (q) and (z) through (jj) above in respect of a Group II Loan
        will be deemed to materially adversely affect the interests of the related
        Certificateholders. In the case of any such breach of a representation or
        warranty set forth in this Section 7, within 90 days from the date of discovery
        by EMC, or the date EMC is notified by the party discovering or receiving
        notice
        of such breach (whichever occurs earlier), EMC will (i) cure such breach
        in all
        material respects, (ii) purchase the affected Mortgage Loan at the applicable
        Purchase Price or (iii) if within two years of the Closing Date, substitute
        a
        qualifying Replacement Mortgage Loan in exchange for such Mortgage Loan;
        provided that, (A) in the case of a breach of the representation and warranty
        concerning the Mortgage Loan Schedule contained in clause (a) of this Section
        7,
        if such breach is material and relates to any field on the Mortgage Loan
        Schedule which identifies any Prepayment Charge or (B) in the case of a breach
        of the representation contained in clause (x) of this Section 7, then, in
        each
        case, in lieu of purchasing such Mortgage Loan from the Trust Fund at the
        Purchase Price, EMC shall pay the amount of the Prepayment Charge (net of
        any
        amount previously collected by or paid to the Trust Fund in respect of such
        Prepayment Charge) from its own funds and without reimbursement therefor,
        and
        EMC shall have no obligation to repurchase or substitute for such Mortgage
        Loan.
        The obligations of EMC to cure, purchase or substitute a qualifying Replacement
        Mortgage Loan shall constitute the Purchaser’s, the Trustee’s and the
        Certificateholder’s sole and exclusive remedy under this Agreement or otherwise
        respecting a breach of representations or warranties hereunder with respect
        to
        the Mortgage Loans, except for the obligation of EMC to indemnify the Purchaser
        for such breach as set forth in and limited by Section 14 hereof.

       

      Any
        cause
        of action against EMC or relating to or arising out of a breach by EMC of
        any
        representations and warranties made in this Section 7 shall accrue as to
        any
        Mortgage Loan upon (i) discovery of such breach by EMC or notice thereof
        by the
        party discovering such breach and (ii) failure by EMC to cure such breach,
        purchase such Mortgage Loan or substitute a qualifying Replacement Mortgage
        Loan
        pursuant to the terms hereof.

       

      SECTION
        8. Representations
        and Warranties Concerning EMC.
        As of
        the date hereof and as of the Closing Date, EMC represents and warrants to
        the
        Purchaser and Master Funding as to itself in the capacity indicated as
        follows:

       

      (a) EMC
        (i)
        is a corporation duly organized, validly existing and in good standing under
        the
        laws of the State of Delaware and (ii) is qualified and in good standing
        to do
        business in each jurisdiction where such qualification is necessary, except
        where the failure so to qualify would not reasonably be expected to have
        a
        material adverse effect on EMC’s business as presently conducted or on EMC’s
        ability to enter into this Agreement and to consummate the transactions
        contemplated hereby;

       

      (b) EMC
        has
        full power to own its property, to carry on its business as presently conducted
        and to enter into and perform its obligations under this Agreement;

       

      (c) The
        execution and delivery by EMC of this Agreement has been duly authorized
        by all
        necessary action on the part of EMC; and neither the execution and delivery
        of
        this Agreement, nor the consummation of the transactions herein contemplated,
        nor compliance with the provisions hereof or thereof, will conflict with
        or
        result in a breach of, or constitute a default under, any of the provisions
        of
        any law, governmental rule, regulation, judgment, decree or order binding
        on EMC
        or its properties or the charter or by-laws of EMC, except those conflicts,
        breaches or defaults which would not reasonably be expected to have a material
        adverse effect on EMC’s ability to enter into this Agreement and to consummate
        the transactions contemplated hereby;

       

      (d) The
        execution, delivery and performance by EMC of this Agreement and the
        consummation of the transactions contemplated hereby do not require the consent
        or approval of, the giving of notice to, the registration with, or the taking
        of
        any other action in respect of, any state, federal or other governmental
        authority or agency, except those consents, approvals, notices, registrations
        or
        other actions as have already been obtained, given or made and, in connection
        with the recordation of the Mortgages, powers of attorney or assignments
        of
        Mortgages not yet completed;

       

      (e) This
        Agreement has been duly executed and delivered by EMC and, assuming due
        authorization, execution and delivery by the Purchaser or the parties thereto,
        constitutes a valid and binding obligation of EMC enforceable against it
        in
        accordance with its terms (subject to applicable bankruptcy and insolvency
        laws
        and other similar laws affecting the enforcement of the rights of creditors
        generally);

       

      (f) There
        are
        no actions, suits or proceedings pending or, to the knowledge of EMC, threatened
        against EMC, before or by any court, administrative agency, arbitrator or
        governmental body (i) with respect to any of the transactions contemplated
        by
        this Agreement or (ii) with respect to any other matter which in the judgment
        of
        EMC could reasonably be expected to be determined adversely to EMC and if
        determined adversely to EMC materially and adversely affect EMC’s ability to
        perform its obligations under this Agreement; and EMC not in default with
        respect to any order of any court, administrative agency, arbitrator or
        governmental body so as to materially and adversely affect the transactions
        contemplated by this Agreement; and

       

      (g) The
        Mortgage Loan Sellers’ Information (as defined in Section 14(a) hereof) does not
        include any untrue statement of a material fact or omit to state a material
        fact
        necessary in order to make the statements made, in light of the circumstances
        under which they were made, not misleading.

       

      SECTION
        9. Representations
        and Warranties Concerning the Purchaser.
        As of
        the date hereof and as of the Closing Date, the Purchaser represents and
        warrants to the Mortgage Loan Sellers as follows:

       

      (a) The
        Purchaser (i) is a limited liability company duly organized, validly existing
        and in good standing under the laws of the State of Delaware and (ii) is
        qualified and in good standing to do business in each jurisdiction where
        such
        qualification is necessary, except where the failure so to qualify would
        not
        reasonably be expected to have a material adverse effect on the Purchaser’s
        business as presently conducted or on the Purchaser’s ability to enter into this
        Agreement and to consummate the transactions contemplated hereby;

       

      (b) The
        Purchaser has full power to own its property, to carry on its business as
        presently conducted and to enter into and perform its obligations under this
        Agreement;

       

      (c) The
        execution and delivery by the Purchaser of this Agreement has been duly
        authorized by all necessary action on the part of the Purchaser; and neither
        the
        execution and delivery of this Agreement, nor the consummation of the
        transactions herein contemplated, nor compliance with the provisions hereof,
        will conflict with or result in a breach of, or constitute a default under,
        any
        of the provisions of any law, governmental rule, regulation, judgment, decree
        or
        order binding on the Purchaser or its properties or the certificate of formation
        or limited liability company agreement of the Purchaser, except those conflicts,
        breaches or defaults which would not reasonably be expected to have a material
        adverse effect on the Purchaser’s ability to enter into this Agreement and to
        consummate the transactions contemplated hereby or thereby;

       

      (d) The
        execution, delivery and performance by the Purchaser of this Agreement and
        the
        consummation of the transactions contemplated hereby or thereby do not require
        the consent or approval of, the giving of notice to, the registration with,
        or
        the taking of any other action in respect of, any state, federal or other
        governmental authority or agency, except those consents, approvals, notices,
        registrations or other actions as have already been obtained, given or
        made;

       

      (e) This
        Agreement has been duly executed and delivered by the Purchaser and, assuming
        due authorization, execution and delivery by the Mortgage Loan Sellers,
        constitutes a valid and binding obligation of the Purchaser enforceable against
        it in accordance with its terms (subject to applicable bankruptcy and insolvency
        laws and other similar laws affecting the enforcement of the rights of creditors
        generally);

       

      (f) There
        are
        no actions, suits or proceedings pending or, to the knowledge of the Purchaser,
        threatened against the Purchaser, before or by any court, administrative
        agency,
        arbitrator or governmental body (i) with respect to any of the transactions
        contemplated by this Agreement or (ii) with respect to any other matter which
        in
        the judgment of the Purchaser could reasonably be expected to be determined
        adversely to the Purchaser and if determined adversely to the Purchaser
        materially and adversely affect the Purchaser’s ability to perform its
        obligations under this Agreement; and the Purchaser is not in default with
        respect to any order of any court, administrative agency, arbitrator or
        governmental body so as to materially and adversely affect the transactions
        contemplated by this Agreement; and

       

      (g) The
        Purchaser’s Information (as defined in Section 14(b) hereof) does not include
        any untrue statement of a material fact or omit to state a material fact
        necessary in order to make the statements made, in light of the circumstances
        under which they were made, not misleading.

       

      SECTION
        10. Representations
        and Warranties Concerning Master Funding.
        As of
        the date hereof and as of the Closing Date, Master Funding represents and
        warrants to EMC and the Purchaser as follows:

       

      (a) Master
        Funding (i) is a limited liability company duly organized, validly existing
        and
        in good standing under the laws of the State of Delaware and (ii) is qualified
        and in good standing to do business in each jurisdiction where such
        qualification is necessary, except where the failure so to qualify would
        not
        reasonably be expected to have a material adverse effect on Master Funding’s
        business as presently conducted or on Master Funding’s ability to enter into
        this Agreement and to consummate the transactions contemplated
        hereby;

       

      (b) Master
        Funding has full power to own its property, to carry on its business as
        presently conducted and to enter into and perform its obligations under this
        Agreement;

       

      (c) The
        execution and delivery by Master Funding of this Agreement has been duly
        authorized by all necessary action on the part of Master Funding; and neither
        the execution and delivery of this Agreement, nor the consummation of the
        transactions herein contemplated, nor compliance with the provisions hereof
        or
        thereof, will conflict with or result in a breach of, or constitute a default
        under, any of the provisions of any law, governmental rule, regulation,
        judgment, decree or order binding on Master Funding or its properties or
        the
        written consent of the sole member or limited liability company agreement
        of
        Master Funding, except those conflicts, breaches or defaults which would
        not
        reasonably be expected to have a material adverse effect on Master Funding’s
        ability to enter into this Agreement and to consummate the transactions
        contemplated hereby;

       

      (d) The
        execution, delivery and performance by Master Funding of this Agreement and
        the
        consummation of the transactions contemplated hereby do not require the consent
        or approval of, the giving of notice to, the registration with, or the taking
        of
        any other action in respect of, any state, federal or other governmental
        authority or agency, except those consents, approvals, notices, registrations
        or
        other actions as have already been obtained, given or made and, in connection
        with the recordation of the Mortgages, powers of attorney or assignments
        of
        Mortgages not yet completed;

       

      (e) This
        Agreement has been duly executed and delivered by Master Funding and, assuming
        due authorization, execution and delivery by the Purchaser or the parties
        thereto, constitutes a valid and binding obligation of Master Funding
        enforceable against it in accordance with its terms (subject to applicable
        bankruptcy and insolvency laws and other similar laws affecting the enforcement
        of the rights of creditors generally); and

       

      (f) There
        are
        no actions, suits or proceedings pending or, to the knowledge of Master Funding,
        threatened against Master Funding, before or by any court, administrative
        agency, arbitrator or governmental body (i) with respect to any of the
        transactions contemplated by this Agreement or (ii) with respect to any other
        matter which in the judgment of Master Funding could reasonably be expected
        to
        be determined adversely to Master Funding and if determined adversely to
        Master
        Funding materially and adversely affect Master Funding’s ability to perform its
        obligations under this Agreement; and Master Funding is not in default with
        respect to any order of any court, administrative agency, arbitrator or
        governmental body so as to materially and adversely affect the transactions
        contemplated by this Agreement.

       

      SECTION
        11. Conditions
        to Closing. 

       

      (a) The
        obligations of the Purchaser under this Agreement will be subject to the
        satisfaction, on or prior to the Closing Date, of the following
        conditions:

       

      (1) Each
        of
        the obligations of each Mortgage Loan Seller required to be performed at
        or
        prior to the Closing Date pursuant to the terms of this Agreement shall have
        been duly performed and complied with in all material respects; all of the
        representations and warranties of each Mortgage Loan Seller under this Agreement
        shall be true and correct as of the date or dates specified in all material
        respects; and no event shall have occurred which, with notice or the passage
        of
        time, would constitute a default under this Agreement or the Pooling and
        Servicing Agreement; and the Purchaser shall have received certificates to
        that
        effect signed by authorized officers of each of the Mortgage Loan
        Sellers.

       

      (2) The
        Purchaser shall have received all of the following closing documents, in
        such
        forms as are agreed upon and reasonably acceptable to the Purchaser, duly
        executed by all signatories other than the Purchaser as required pursuant
        to the
        respective terms thereof:

       

      (i) If
        required pursuant to Section 3 hereof, the Amendment dated as of the Closing
        Date and any documents referred to therein;

       

      (ii) If
        required pursuant to Section 3 hereof, the Final Mortgage Loan Schedule
        containing the information set forth on Exhibit
        2
        hereto,
        one copy to be attached to each counterpart of the Amendment;

       

      (iii) The
        Pooling and Servicing Agreement, in form and substance reasonably satisfactory
        to the Trustee and the Purchaser, and all documents required thereby duly
        executed by all signatories;

       

      (iv) A
        certificate of an officer of EMC dated as of the Closing Date, in a form
        reasonably acceptable to the Purchaser, and attached thereto the resolutions
        of
        EMC authorizing the transactions contemplated by this Agreement, together
        with
        copies of the articles of incorporation, by-laws and certificate of good
        standing of EMC;

       

      (v) A
        certificate of an officer of Master Funding dated as of the Closing Date,
        in a
        form reasonably acceptable to the Purchaser, and attached thereto the
        resolutions of Master Funding authorizing the transactions contemplated by
        this
        Agreement, together with copies of the written consent of the sole member,
        limited liability company agreement and certificate of good standing of Master
        Funding;

       

      (vi) One
        or
        more opinions of counsel from the Mortgage Loan Sellers’ counsel otherwise in
        form and substance reasonably satisfactory to the Purchaser, the Trustee
        and
        each Rating Agency;

       

      (vii) A
        letter
        from each of the Rating Agencies giving each Class of Certificates set forth
        on
        Schedule A hereto the rating set forth therein; and

       

      (viii) Such
        other documents, certificates (including additional representations and
        warranties) and opinions as may be reasonably necessary to secure the intended
        ratings from each Rating Agency for the Certificates.

       

      (3) The
        Certificates to be sold to Bear Stearns pursuant to the Underwriting Agreement
        and the Purchase Agreement shall have been issued and sold to Bear
        Stearns.

       

      (4) Each
        Mortgage Loan Seller shall have furnished to the Purchaser such other
        certificates of its officers or others and such other documents and opinions
        of
        counsel to evidence fulfillment of the conditions set forth in this Agreement
        and the transactions contemplated hereby as the Purchaser and their respective
        counsel may reasonably request.

       

      (b) The
        obligations of each Mortgage Loan Seller under this Agreement shall be subject
        to the satisfaction, on or prior to the Closing Date, of the following
        conditions:

       

      (1) The
        obligations of the Purchaser required to be performed by it on or prior to
        the
        Closing Date pursuant to the terms of this Agreement shall have been duly
        performed and complied with in all material respects, and all of the
        representations and warranties of the Purchaser under this Agreement shall
        be
        true and correct in all material respects as of the date hereof and as of
        the
        Closing Date, and no event shall have occurred which would constitute a breach
        by it of the terms of this Agreement or the Pooling and Servicing Agreement, and
        each Mortgage Loan Seller shall have received a certificate to that effect
        signed by an authorized officer of the Purchaser.

       

      (2) Each
        Mortgage Loan Seller shall have received copies of all of the following closing
        documents, in such forms as are agreed upon and reasonably acceptable to
        each
        Mortgage Loan Seller, duly executed by all signatories other than the related
        Mortgage Loan Seller as required pursuant to the respective terms
        thereof:

       

      (i) If
        required pursuant to Section 3 hereof, the Amendment dated as of the Closing
        Date and any documents referred to therein;

       

      (ii) The
        Pooling and Servicing Agreement, in form and substance reasonably satisfactory
        to EMC and the Trustee, and all documents required thereby duly executed
        by all
        signatories;

       

      (iii) A
        certificate of an officer of the Purchaser dated as of the Closing Date,
        in a
        form reasonably acceptable to each Mortgage Loan Seller, and attached thereto
        the written consent of the member of the Purchaser authorizing the transactions
        contemplated by this Agreement, the Pooling and Servicing Agreement, together
        with copies of the Purchaser’s certificate of formation, limited liability
        company agreement and evidence as to the good standing of the Purchaser dated
        as
        of a recent date;

       

      (iv) One
        or
        more opinions of counsel from the Purchaser’s counsel in form and substance
        reasonably satisfactory to each Mortgage Loan Seller, the Trustee and the
        Rating
        Agencies; and

       

      (v) Such
        other documents, certificates (including additional representations and
        warranties) and opinions as may be reasonably necessary to secure the intended
        rating from each Rating Agency for the Certificates.

       

      SECTION
        12. Fees
        and Expenses.
        Subject
        to Section 17 hereof, EMC (on its own behalf as a Mortgage Loan Seller and
        on
        behalf of Master Funding) shall pay on the Closing Date or such later date
        as
        may be agreed to by the Purchaser (i) the fees and expenses of the Mortgage
        Loan
        Sellers’ attorneys and the reasonable fees and expenses of the Purchaser’s
        attorneys, (ii) the fees and expenses of Deloitte & Touche llp,
        (iii)
        the fee for the use of Purchaser’s Registration Statement based on the aggregate
        original principal amount of the Certificates and the filing fee of the
        Commission as in effect on the date on which the Registration Statement was
        declared effective, (iv) the fees and expenses including counsel’s fees and
        expenses in connection with any “blue sky” and legal investment matters, (v) the
        fees and expenses of the Trustee which shall include without limitation the
        fees
        and expenses of the Trustee (and the fees and disbursements of its counsel)
        with
        respect to (A) legal and document review of this Agreement, the Pooling and
        Servicing Agreement, the Certificates and related agreements, (B) attendance
        at
        the Closing and (C) review of the Mortgage Loans to be performed by the Trustee
        or the Custodian on its behalf, (vi) the expenses for printing or otherwise
        reproducing the Certificates, the Prospectus and the Prospectus Supplement,
        (vii) the fees and expenses of each Rating Agency (both initial and ongoing),
        (viii) the fees and expenses relating to the preparation and recordation
        of
        mortgage assignments (including intervening assignments, if any and if
        available, to evidence a complete chain of title from the originator to the
        Trustee) from each Mortgage Loan Seller to the Trustee or the expenses relating
        to the Opinion of Counsel referred to in Section 6(a) hereof, as the case
        may be
        and (ix) Mortgage File due diligence expenses and other out-of-pocket expenses
        incurred by the Purchaser in connection with the purchase of the Mortgage
        Loans
        and by Bear Stearns in connection with the sale of the Certificates. EMC
        (on its
        own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        additionally agrees to pay directly to any third party on a timely basis
        the
        fees provided for above which are charged by such third party and which are
        billed periodically.

       

      SECTION
        13. Accountants’
        Letters. 

       

      (a) Deloitte
        & Touche LLP
        will
        review the characteristics of a sample of the Mortgage Loans described in
        the
        Preliminary Mortgage Loan Schedule and will compare those characteristics
        to the
        description of the Mortgage Loans contained in the Free Writing Prospectus
        under
        the captions “Summary—The Mortgage Loans” and “The Mortgage Pool” and in
        Schedule A thereto. Deloitte & Touche LLP
        will
        review the characteristics of a sample of the Mortgage Loans described in
        the
        Final Mortgage Loan Schedule and will compare those characteristics to the
        description of the Mortgage Loans contained in the Prospectus Supplement
        under
        the captions “Summary—The Mortgage Loans” and “The Mortgage Pool” and in
        Schedule A thereto. EMC (on its own behalf as a Mortgage Loan Seller and
        on
        behalf of Master Funding) will cooperate with the Purchaser in making available
        all information and taking all steps reasonably necessary to permit such
        accountants to complete the review and to deliver the letters required of
        them
        under the Underwriting Agreement. Deloitte & Touche LLP
        will
        also confirm certain calculations as set forth under the caption “Yield,
        Prepayment and Maturity Considerations” in the Free Writing Prospectus and in
        the Prospectus Supplement.

       

      (b) To
        the
        extent statistical information with respect to EMC’s servicing portfolio is
        included in the Free Writing Prospectus and in the Prospectus Supplement
        under
        the caption “Servicing of the Mortgage Loans—The Master Servicer,” a letter from
        the certified public accountant for EMC will be delivered to the Purchaser
        dated
        the date of the Prospectus Supplement, in the form previously agreed to by
        EMC
        and the Purchaser, with respect to such statistical information.

       

      SECTION
        14. Indemnification. 

       

      (a) EMC
        (on
        its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        shall
        indemnify and hold harmless the Purchaser and its directors, officers and
        controlling persons (as defined in Section 15 of the Securities Act) from
        and
        against any loss, claim, damage or liability or action in respect thereof,
        to
        which they or any of them may become subject, under the Securities Act or
        otherwise, insofar as such loss, claim, damage, liability or action arises
        out
        of, or is based upon any untrue statement of a material fact contained in
        the
Mortgage
        Loan Sellers’ Information
        as
        identified in Exhibit
        3,
        the
        omission to state in the Free Writing Prospectus, the Prospectus Supplement
        or
        Prospectus (or any amendment thereof or supplement thereto approved by EMC
        (on
        its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        and in
        which additional Mortgage Loan Sellers’ Information is identified), in reliance
        upon and in conformity with Mortgage Loan Sellers’ Information a material fact
        required to be stated therein or necessary to make the statements therein
        in
        light of the circumstances in which they were made, not misleading, and EMC
        (on
        its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        shall
        reimburse the Purchaser and each other indemnified party for any legal and
        other
        expenses reasonably incurred by them in connection with investigating or
        defending or preparing to defend against any such loss, claim, damage, liability
        or action.

       

      The
        foregoing indemnity agreement is in addition to any liability which EMC or
        Master Funding otherwise may have to the Purchaser or any other such indemnified
        party.

       

      (b) The
        Purchaser shall indemnify and hold harmless each Mortgage Loan Seller and
        its
        respective directors, officers and controlling persons (as defined in Section
        15
        of the Securities Act) from and against any loss, claim, damage or liability
        or
        action in respect thereof, to which they or any of them may become subject,
        under the Securities Act or otherwise, insofar as such loss, claim, damage,
        liability or action arises out of, or is based upon any untrue statement
        of a
        material fact contained in the Purchaser’s
        Information
        as
        identified in Exhibit
        4,
        the
        omission to state in the Prospectus Supplement or Prospectus (or any amendment
        thereof or supplement thereto approved by the Purchaser and in which additional
        Purchaser’s Information is identified), in reliance upon and in conformity with
        the Purchaser’s Information, a material fact required to be stated therein or
        necessary to make the statements therein in light of the circumstances in
        which
        they were made, not misleading, and the Purchaser shall reimburse each Mortgage
        Loan Seller, and each other indemnified party for any legal and other expenses
        reasonably incurred by them in connection with investigating or defending
        or
        preparing to defend any such loss, claim, damage, liability or action. The
        foregoing indemnity agreement is in addition to any liability which the
        Purchaser otherwise may have to the Mortgage Loan Sellers, or any other such
        indemnified party.

       

      (c) Promptly
        after receipt by an indemnified party under subsection (a) or (b) above of
        notice of the commencement of any action, such indemnified party shall, if
        a
        claim in respect thereof is to be made against the indemnifying party under
        such
        subsection, notify each party against whom indemnification is to be sought
        in
        writing of the commencement thereof (but the failure so to notify an
        indemnifying party shall not relieve it from any liability which it may have
        under this Section 14 except to the extent that it has been prejudiced in
        any
        material respect by such failure or from any liability which it may have
        otherwise). In case any such action is brought against any indemnified party,
        and it notifies an indemnifying party of the commencement thereof, the
        indemnifying party will be entitled to participate therein and, to the extent
        it
        may elect by written notice delivered to the indemnified party promptly (but,
        in
        any event, within 30 days) after receiving the aforesaid notice from such
        indemnified party, to assume the defense thereof with counsel reasonably
        satisfactory to such indemnified party. Notwithstanding the foregoing, the
        indemnified party or parties shall have the right to employ its or their
        own
        counsel in any such case, but the fees and expenses of such counsel shall
        be at
        the expense of such indemnified party or parties unless (i) the employment
        of
        such counsel shall have been authorized in writing by one of the indemnifying
        parties in connection with the defense of such action, (ii) the indemnifying
        parties shall not have employed counsel to have charge of the defense of
        such
        action within a reasonable time after notice of commencement of the action,
        or
        (iii) such indemnified party or parties shall have reasonably concluded that
        there is a conflict of interest between itself or themselves and the
        indemnifying party in the conduct of the defense of any claim or that the
        interests of the indemnified party or parties are not substantially co-extensive
        with those of the indemnifying party (in which case the indemnifying parties
        shall not have the right to direct the defense of such action on behalf of
        the
        indemnified party or parties), in any of which events such fees and expenses
        shall be borne by the indemnifying parties (provided,
        however,
        that
        the indemnifying party shall be liable only for the fees and expenses of
        one
        counsel in addition to one local counsel in the jurisdiction involved. Anything
        in this subsection to the contrary notwithstanding, an indemnifying party
        shall
        not be liable for any settlement or any claim or action effected without
        its
        written consent; provided,
        however,
        that
        such consent was not unreasonably withheld.

       

      (d) If
        the
        indemnification provided for in paragraphs (a) and (b) of this Section 14
        shall
        for any reason be unavailable to an indemnified party in respect of any loss,
        claim, damage or liability, or any action in respect thereof, referred to
        in
        Section 14, then the indemnifying party shall in lieu of indemnifying the
        indemnified party contribute to the amount paid or payable by such indemnified
        party as a result of such loss, claim, damage or liability, or action in
        respect
        thereof, in such proportion as shall be appropriate to reflect the relative
        benefits received by the Mortgage Loan Sellers on the one hand and the Purchaser
        on the other from the purchase and sale of the Mortgage Loans, the offering
        of
        the Certificates and the other transactions contemplated hereunder. No person
        found liable for a fraudulent misrepresentation shall be entitled to
        contribution from any person who is not also found liable for such fraudulent
        misrepresentation.

       

      (e) The
        parties hereto agree that reliance by an indemnified party on any publicly
        available information or any information or directions furnished by an
        indemnifying party shall not constitute negligence, bad faith or willful
        misconduct by such indemnified party.

       

      SECTION
        15. Notices.
        All
        demands, notices and communications hereunder shall be in writing but may
        be
        delivered by facsimile transmission subsequently confirmed in writing. Notices
        to EMC shall be directed to EMC Mortgage Corporation, 2780 Lake Vista Drive,
        Lewisville, Texas 75067 (Facsimile: 469-759-4714)) Attention: President;
        notices
        to Master Funding shall be directed to Master Funding LLC, Two MacArthur
        Ridge,
        909 Hidden Ridge Drive, Suite 200 Irving, Texas 75038; and notices to the
        Purchaser shall be directed to Bear Stearns Asset Backed Securities I LLC,
        383
        Madison Avenue, New York, New York 10179, (Telecopy: (212-272-7206)), Attention:
        Chief Counsel; or to any other address as may hereafter be furnished by one
        party to the other party by like notice.  Any such demand, notice or
        communication hereunder shall be deemed to have been received on the date
        received at the premises of the addressee (as evidenced, in the case of
        registered or certified mail, by the date noted on the return receipt) provided
        that it is received on a business day during normal business hours and, if
        received after normal business hours, then it shall be deemed to be received
        on
        the next business day.

       

      SECTION
        16. Transfer
        of Mortgage Loans.
        The
        Purchaser retains the right to assign the Mortgage Loans and any or all of
        its
        interest under this Agreement to the Trustee without the consent of the Mortgage
        Loan Sellers, and, upon such assignment, the Trustee shall succeed to the
        applicable rights and obligations of the Purchaser hereunder; provided, however,
        the Purchaser shall remain entitled to the benefits set forth in Sections
        12, 14
        and 18 hereto and as provided in Section 2(a). Notwithstanding the foregoing,
        the sole and exclusive right and remedy of the Trustee with respect to a
        breach
        of representation or warranty of the Mortgage Loan Sellers shall be the cure,
        purchase or substitution obligations of EMC contained in Sections 5 and 7
        hereof.

       

      SECTION
        17. Termination.
        This
        Agreement may be terminated (a) by the mutual consent of the parties hereto
        prior to the Closing Date, (b) by the Purchaser, if the conditions to the
        Purchaser’s obligation to close set forth under Section 11(a) hereof are not
        fulfilled as and when required to be fulfilled or (c) by any Mortgage Loan
        Seller, if the conditions to the Mortgage Loan Sellers’ obligation to close set
        forth under Section 11(b) hereof are not fulfilled as and when required to
        be
        fulfilled. In the event of termination pursuant to clause (b), EMC (on its
        own
        behalf as a Mortgage Loan Seller and on behalf of Master Funding) shall pay,
        and
        in the event of termination pursuant to clause (c), the Purchaser shall pay,
        all
        reasonable out-of-pocket expenses incurred by the other in connection with
        the
        transactions contemplated by this Agreement. In the event of a termination
        pursuant to clause (a), each party shall be responsible for its own
        expenses.

       

      SECTION
        18. Representations,
        Warranties and Agreements to Survive Delivery.
        All
        representations, warranties and agreements contained in this Agreement, or
        contained in certificates of officers of the Mortgage Loan Sellers submitted
        pursuant hereto, shall remain operative and in full force and effect and
        shall
        survive delivery of the Mortgage Loans to the Purchaser (and by the Purchaser
        to
        the Trustee). Subsequent to the delivery of the Mortgage Loans to the Purchaser,
        each of EMC’s representations and warranties contained herein with respect to
        the Mortgage Loans shall be deemed to relate to the Mortgage Loans actually
        delivered to the Purchaser and included in the Final Mortgage Loan Schedule
        and
        any Replacement Mortgage Loan and not to those Mortgage Loans deleted from
        the
        Preliminary Mortgage Loan Schedule pursuant to Section 3 hereof prior to
        the
        Closing.

       

      SECTION
        19. Severability.
        If any
        provision of this Agreement shall be prohibited or invalid under applicable
        law,
        this Agreement shall be ineffective only to such extent, without invalidating
        the remainder of this Agreement.

       

      SECTION
        20. Counterparts.
        This
        Agreement may be executed in counterparts, each of which will be an original,
        but which together shall constitute one and the same agreement.

       

      SECTION
        21. Amendment.
        This
        Agreement cannot be amended or modified in any manner without the prior written
        consent of each party.

       

      SECTION
        22. GOVERNING
        LAW.
        THIS
        AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
        OF
        THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF
        OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

       

      SECTION
        23. Further
        Assurances.
        Each of
        the parties agrees to execute and deliver such instruments and take such
        actions
        as another party may, from time to time, reasonably request in order to
        effectuate the purpose and to carry out the terms of this Agreement including
        any amendments hereto which may be required by either Rating
        Agency.

       

      SECTION
        24. Successors
        and Assigns.
        This
        Agreement shall bind and inure to the benefit of and be enforceable by each
        of
        the Mortgage Loan Sellers and the Purchaser and their permitted successors
        and
        assigns and, to the extent specified in Section 14 hereof, Bear Stearns,
        and
        their directors, officers and controlling persons (within the meaning of
        federal
        securities laws). The Mortgage Loan Sellers acknowledge and agree that the
        Purchaser may assign its rights under this Agreement (including, without
        limitation, with respect to the EMC’s representations and warranties respecting
        the Mortgage Loans) to the Trustee. Any person into which any Mortgage Loan
        Seller may be merged or consolidated (or any person resulting from any merger
        or
        consolidation involving such Mortgage Loan Seller), any person resulting
        from a
        change in form of such Mortgage Loan Seller or any person succeeding to the
        business of such Mortgage Loan Seller, shall be considered the “successor” of
        such Mortgage Loan Seller hereunder and shall be considered a party hereto
        without the execution or filing of any paper or any further act or consent
        on
        the part of any party hereto. Except as provided in the two preceding sentences,
        this Agreement cannot be assigned, pledged or hypothecated by either party
        hereto without the written consent of the other parties to this Agreement
        and
        any such assignment or purported assignment shall be deemed null and
        void.

       

      SECTION
        25. The
        Mortgage Loan Sellers.
        The
        Mortgage Loan Sellers will keep in full force and effect its existence, all
        rights and franchises as a corporation under the laws of the State of its
        incorporation and will obtain and preserve its qualification to do business
        as a
        foreign corporation in each jurisdiction in which such qualification is
        necessary to perform its obligations under this Agreement.

       

      SECTION
        26. Entire
        Agreement.
        This
        Agreement contains the entire agreement and understanding between the parties
        with respect to the subject matter hereof, and supersedes all prior and
        contemporaneous agreements, understandings, inducements and conditions, express
        or implied, oral or written, of any nature whatsoever with respect to the
        subject matter hereof.

       

      SECTION
        27. No
        Partnership.
        Nothing
        herein contained shall be deemed or construed to create a partnership or
        joint
        venture between the parties hereto.

       

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK]

      

      

      

        

        
          * Please
            contact Bear Stearns for pricing information.

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have caused their names to be signed
        hereto
        by their respective duly authorized officers as of the date first above
        written.

       

      

        
          	 	EMC
                  MORTGAGE
                  CORPORATION
	 	 	 
	 	
                  By:

                	 
	 	
                  Name:

                	 
	 	
                  Title:

                	 

        

        

          
            	 	BEAR
                    STEARNS
                    ASSET BACKED SECURITIES I LLC
	 	 	 
	 	
                    By:

                  	 
	 	
                    Name:

                  	Baron
                    Silverstein
	 	
                    Title:

                  	Vice
                    President

          

           

          

            
              	 	
                      MASTER
                        FUNDING LLC

                    
	 	 	 
	 	
                      By:

                    	 
	 	
                      Name:

                    	 
	 	
                      Title:

                    	 

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                  
                    

                  

                

              

          

        

      

      EXHIBIT
        1

      CONTENTS
        OF MORTGAGE FILE

       

      With
        respect to each Mortgage Loan, the Mortgage File shall include each of the
        following items, which shall be available for inspection by the Purchaser
        or its
        designee, and which shall be delivered to the Purchaser or its designee pursuant
        to the terms of this Agreement.

       

      (a) The
        original Mortgage Note, including any riders thereto, endorsed without recourse
        to the order of in blank or to “LaSalle Bank National Association, as Trustee
        for certificateholders of Bear Stearns Asset Backed Securities I LLC,
        Asset-Backed Certificates, Series 2006-HE5,” and showing to the extent available
        to the related Mortgage Loan Seller an unbroken chain of endorsements from
        the
        original payee thereof to the Person endorsing it to the Trustee;

       

      (b) The
        original Mortgage and, if the related Mortgage Loan is a MOM Loan, noting
        the
        presence of the MIN and language indicating that such Mortgage Loan is a
        MOM
        Loan, which shall have been recorded (or if the original is not available,
        a
        copy), with evidence of such recording indicated thereon (or if clause (x)
        in
        the proviso below applies, shall be in recordable form);

       

      (c) Unless
        the Mortgage Loan is a MOM Loan, the assignment (either an original or a
        copy,
        which may be in the form of a blanket assignment if permitted in the
        jurisdiction in which the Mortgaged Property is located) to the Trustee of
        the
        Mortgage with respect to each Mortgage Loan in the name of “LaSalle Bank
        National Association, as Trustee for certificateholders of Bear Stearns Asset
        Backed Securities I LLC, Asset-Backed Certificates, Series 2006-HE5,” which
        shall have been recorded (or if clause (x) in the proviso below applies,
        shall
        be in recordable form);

       

      (d) An
        original or a copy of all intervening assignments of the Mortgage, if any,
        to
        the extent available to the related Mortgage Loan Seller, with evidence of
        recording thereon;

       

      (e) The
        original policy of title insurance or mortgagee’s certificate of title insurance
        or commitment or binder for title insurance, if available, or a copy thereof,
        or, in the event that such original title insurance policy is unavailable,
        a
        photocopy thereof, or in lieu thereof, a current lien search on the related
        Mortgaged Property and

       

      (f) Originals
        or copies of all available assumption, modification or substitution agreements,
        if any; provided, however, that in lieu of the foregoing, the related Mortgage
        Loan Seller may deliver the following documents, under the circumstances
        set
        forth below: (x) if any Mortgage, assignment thereof to the Trustee or
        intervening assignments thereof have been delivered or are being delivered
        to
        recording offices for recording and have not been returned in time to permit
        their delivery as specified above, the Purchaser may deliver a true copy
        thereof
        with a certification by the related Mortgage Loan Seller or the title company
        issuing the commitment for title insurance, on the face of such copy,
        substantially as follows: “Certified to be a true and correct copy of the
        original, which has been transmitted for recording”; and (y) in lieu of the
        Mortgage Notes relating to the Mortgage Loans identified in the list set
        forth
        in Exhibit J to the Pooling and Servicing Agreement, the Purchaser may deliver
        a
        lost note affidavit and indemnity and a copy of the original note, if available;
        and provided, further, however, that in the case of Mortgage Loans which
        have
        been prepaid in full after the Cut-Off Date and prior to the Closing Date,
        the
        Purchaser, in lieu of delivering the above documents, may deliver to the
        Trustee
        and its Custodian a certification of a Servicing Officer to such effect and
        in
        such case shall deposit all amounts paid in respect of such Mortgage Loans,
        in
        the Protected Account or in the Distribution Account on the Closing Date.
        In the
        case of the documents referred to in clause (x) above, the Purchaser shall
        deliver such documents to the Trustee or its Custodian promptly after they
        are
        received. EMC (on its own behalf as a Mortgage Loan Seller and on behalf
        of
        Master Funding) shall cause, at its expense, the Mortgage and intervening
        assignments, if any, and to the extent required in accordance with the
        foregoing, the assignment of the Mortgage to the Trustee to be submitted
        for
        recording promptly after the Closing Date; provided that EMC (on its own
        behalf
        as a Mortgage Loan Seller and on behalf of Master Funding) need not cause
        to be
        recorded any assignment (a) in any jurisdiction under the laws of which,
        as
        evidenced by an Opinion of Counsel addressed to the Trustee delivered by
        EMC (on
        its own behalf as a Mortgage Loan Seller and on behalf of Master Funding)
        to the
        Trustee, and the Rating Agencies, the recordation of such assignment is not
        necessary to protect the Trustee’s interest in the related Mortgage Loan or (b)
        if MERS is identified on the Mortgage or on a properly recorded assignment
        of
        the Mortgage as mortgagee of record solely as nominee for EMC (on its own
        behalf
        as a Mortgage Loan Seller and on behalf of Master Funding) and its successors
        and assigns. In the event that EMC (on its own behalf as a Mortgage Loan
        Seller
        and on behalf of Master Funding), the Purchaser or the Master Servicer gives
        written notice to the Trustee that a court has recharacterized the sale of
        the
        Mortgage Loans as a financing, EMC (on its own behalf as a Mortgage Loan
        Seller
        and on behalf of Master Funding) shall submit or cause to be submitted for
        recording as specified above or, should EMC (on its own behalf as a Mortgage
        Loan Seller and on behalf of Master Funding) fail to perform such obligations,
        the Master Servicer shall cause each such previously unrecorded assignment
        to be
        submitted for recording as specified above at the expense of the Trust. In
        the
        event a Mortgage File is released to EMC (on its own behalf as a Mortgage
        Loan
        Seller and on behalf of Master Funding) or the Master Servicer as a result
        of
        such Person having completed a Request for Release, the Custodian shall,
        if not
        so completed, complete the assignment of the related Mortgage in the manner
        specified in clause (iii) above.

       

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        2

      MORTGAGE
        LOAN SCHEDULE INFORMATION

      

      The
        Preliminary and Final Mortgage Loan Schedules shall set forth the following
        information with respect to each Mortgage Loan: 

       

      

        
          	 	
                  (a)

                	
                  the
                    city, state and zip code of the Mortgaged Property; 

                
	 	
                  (b)

                	
                  the
                    property type;

                
	 	
                  (c)

                	
                  the
                    Mortgage Interest Rate;

                
	 	
                  (d)

                	
                  the
                    Servicing Fee Rate;

                
	 	
                  (e)

                	
                  the
                    Master Servicer’s Fee Rate;

                
	 	
                  (f)

                	
                  the
                    LPMI Fee, if applicable;

                
	 	
                  (g)

                	
                  the
                    Trustee Fee Rate, if applicable;

                
	 	
                  (h)

                	
                  the
                    Net Rate;

                
	 	
                  (i)

                	
                  the
                    maturity date;

                
	 	
                  (j)

                	
                  the
                    stated original term to maturity;

                
	 	
                  (k)

                	
                  the
                    stated remaining term to maturity;

                
	 	
                  (l)

                	
                  the
                    original Principal Balance;

                
	 	
                  (m)

                	
                  the
                    first payment date;

                
	 	
                  (n)

                	
                  the
                    principal and interest payment in effect as of the Cut-off
                    Date;

                
	 	
                  (o)

                	
                  the
                    unpaid Principal Balance as of the Cut-off Date;

                
	 	
                  (p)

                	
                  the
                    Loan-to-Value Ratio at origination;

                
	 	
                  (q)

                	
                  the
                    insurer of any Primary Mortgage Insurance Policy;

                
	 	
                  (r)

                	
                  the
                    MIN with respect to each MOM Loan;

                
	 	
                  (s)

                	
                  the
                    Gross Margin, if applicable;

                
	 	
                  (t)

                	
                  the
                    next Adjustment Date, if applicable;

                
	 	
                  (u)

                	
                  the
                    Maximum Lifetime Mortgage Rate, if applicable;

                
	 	
                  (v)

                	
                  the
                    Minimum Lifetime Mortgage Rate, if applicable;

                
	 	
                  (w)

                	
                  the
                    Periodic Rate Cap, if applicable; 

                
	 	
                  (x)

                	
                  the
                    Loan Group, if applicable;

                
	 	
                  (y)

                	
                  a
                    code indicating whether the Mortgage Loan is negatively
                    amortizing;

                
	 	
                  (z)

                	
                  which
                    Mortgage Loans adjust after an initial fixed-rate period of one,
                    two,
                    three, five, seven or ten years or any other period; 

                
	 	
                  (aa)

                	
                  the
                    Prepayment Charge, if any;

                
	 	
                  (bb)

                	
                  lien
                    position (e.g., first lien or second lien);

                
	 	
                  (cc)

                	
                  a
                    code indicating whether the Mortgage Loan is has a balloon
                    payment;

                
	 	
                  (dd)

                	
                  a
                    code indicating whether the Mortgage Loan is an interest-only
                    loan;
                    

                
	 	
                  (ee)

                	
                  the
                    interest-only term, if applicable;

                
	 	
                  (ff)

                	
                  the
                    Mortgage Loan Seller; and

                
	 	
                  (gg)

                	
                  the
                    original amortization term.

                

        

      

      
Such
        schedule also shall set forth for all of the Mortgage Loans, the total number
        of
        Mortgage Loans, the total of each of the amounts described under (n) and
        (j)
        above, the weighted average by principal balance as of the Cut-off Date of
        each
        of the rates described under (c) through (h) above, and the weighted average
        remaining term to maturity by unpaid principal balance as of the Cut-off
        Date.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        3

      MORTGAGE
        LOAN SELLERS’ INFORMATION

       

      All
        information in the Prospectus Supplement described under the following captions:
        “SUMMARY — The Mortgage Loans,” “THE MORTGAGE POOL”, “THE SPONSOR” and “SCHEDULE
        A — Mortgage Loan Statistical Data.”

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        4

      PURCHASER’S
        INFORMATION

       

      All
        information in the Prospectus Supplement and the Prospectus, except the Mortgage
        Loan Sellers’ Information and the Swap Provider’s Information. 

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        5

      SCHEDULE
        OF LOST NOTES

       

      Available
        Upon Request

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        6

       

      

       

      REVISED
        February 14, 2006

      

      APPENDIX
        E - Standard & Poor’s Predatory Lending Categories 

       

      Standard
        & Poor’s has categorized loans governed by anti-predatory lending laws in
        the Jurisdictions listed below into three categories based upon a combination
        of
        factors that include (a) the risk exposure associated with the assignee
        liability and (b) the tests and thresholds set forth in those laws. Note
        that
        certain loans classified by the relevant statute as Covered are included
        in
        Standard & Poor’s High Cost Loan Category because they included thresholds
        and tests that are typical of what is generally considered High Cost by the
        industry. 

       

      Standard
        & Poor’s High Cost Loan Categorization 

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending Law/Effective Date

              	
                Category
                  under Applicable Anti-Predatory Lending Law

              
	
                Arkansas
                  

              	
                Arkansas
                  Home Loan Protection Act, Ark. Code Ann. §§ 23-53-101 et
                  seq.
                  

                Effective
                  July 16, 2003 

              	
                High
                  Cost Home Loan 

              
	
                Cleveland
                  Heights, OH 

              	
                Ordinance
                  No. 72-2003 (PSH), Mun. Code §§ 757.01 et
                  seq.
                  

                Effective
                  June 2, 2003 

              	
                Covered
                  Loan 

              
	
                Colorado
                  

              	
                Consumer
                  Equity Protection, Colo. Stat. Ann. §§ 5-3.5-101 et
                  seq.
                  

                Effective
                  for covered loans offered or entered into on or after January 1,
                  2003.
                  Other provisions of the Act took effect on June 7, 2002 

              	
                Covered
                  Loan 

              
	
                Connecticut
                  

              	
                Connecticut
                  Abusive Home Loan Lending Practices Act, Conn. Gen. Stat. §§ 36a-746
                  et
                  seq.
                  

                Effective
                  October 1, 2001 

              	
                High
                  Cost Home Loan 

              
	
                District
                  of Columbia 

              	
                Home
                  Loan Protection Act, D.C. Code §§ 26-1151.01 et
                  seq.
                  

                Effective
                  for loans closed on or after January 28, 2003 

              	
                Covered
                  Loan 

              
	
                Florida
                  

              	
                Fair
                  Lending Act, Fla. Stat. Ann. §§ 494.0078 et
                  seq.
                  

                Effective
                  October 2, 2002 

              	
                High
                  Cost Home Loan 

              
	
                Georgia
                  (Oct. 1, 2002 - Mar. 6, 2003) 

              	
                Georgia
                  Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et
                  seq.
                  

              	
                High
                  Cost Home Loan 

              
	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending Law/Effective Date

              	
                Category
                  under Applicable Anti-Predatory Lending Law

              
	 	
                Effective
                  October 1, 2002 - March 6, 2003 

              	 
	
                Georgia
                  as amended (Mar. 7, 2003 - current) 

              	
                Georgia
                  Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et
                  seq.
                  

                Effective
                  for loans closed on or after March 7, 2003 

              	
                High
                  Cost Home Loan 

              
	
                HOEPA
                  Section 32 

              	
                Home
                  Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1639, 12 C.F.R.
                  §§ 226.32 and 226.34 

                Effective
                  October 1, 1995, amendments October 1, 2002 

              	
                High
                  Cost Loan 

              
	
                Illinois
                  

              	
                High
                  Risk Home Loan Act, Ill. Comp. Stat. tit. 815, §§ 137/5 et
                  seq.
                  

                Effective
                  January 1, 2004 (prior to this date, regulations under Residential
                  Mortgage License Act effective from May 14, 2001) 

              	
                High
                  Risk Home Loan 

              
	
                Kansas
                  

              	
                Consumer
                  Credit Code, Kan. Stat. Ann. §§ 16a-1-101 et
                  seq.
                  

                Sections
                  16a-1-301 and 16a-3-207 became effective April 14, 1999; Section
                  16a-3-308a became effective July 1, 1999 

              	
                High
                  Loan to Value Consumer Loan (id.
                  §
                  16a-3-207) and; 

              
	 	 	
                High
                  APR Consumer Loan (id.
                  §
                  16a-3-308a) 

              
	
                Kentucky
                  

              	
                2003
                  KY H.B. 287 - High Cost Home Loan Act, Ky. Rev. Stat. §§ 360.100
                  et
                  seq.
                  

                Effective
                  June 24, 2003 

              	
                High
                  Cost Home Loan 

              
	
                Maine
                  

              	
                Truth
                  in Lending, Me. Rev. Stat. tit. 9-A, §§ 8-101 et
                  seq.
                  

                Effective
                  September 29, 1995 and as amended from time to time 

              	
                High
                  Rate High Fee Mortgage 

              
	
                Massachusetts
                  

              	
                Part
                  40 and Part 32, 209 C.M.R. §§ 32.00 et
                  seq.
                  and 209 C.M.R. §§ 40.01 et
                  seq.
                  

              	
                High
                  Cost Home Loan 

              

      

      

      

      Standard
        & Poor’s High Cost Loan Categorization 

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending Law/Effective Date

              	
                Category
                  under Applicable Anti-Predatory Lending Law

              
	 	
                Effective
                  March 22, 2001 and amended from time to time 

              	 
	
                Nevada
                  

              	
                Assembly
                  Bill No . 284, Nev. Rev. Stat. §§ 598D.010 et
                  seq.
                  

                Effective
                  October 1, 2003 

              	
                Home
                  Loan 

              
	
                New
                  Jersey 

              	
                New
                  Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22
                  et
                  seq.
                  

                Effective
                  for loans closed on or after November 27, 2003 

              	
                High
                  Cost Home Loan 

              
	
                New
                  Mexico 

              	
                Home
                  Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et
                  seq.
                  

                Effective
                  as of January 1, 2004; Revised as of February 26, 2004 

              	
                High
                  Cost Home Loan 

              
	
                New
                  York 

              	
                N.Y.
                  Banking Law Article 6-l 

                Effective
                  for applications made on or after April 1, 2003 

              	
                High
                  Cost Home Loan 

              
	
                North
                  Carolina 

              	
                Restrictions
                  and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E
                  et
                  seq.
                  

                Effective
                  July 1, 2000; amended October 1, 2003 (adding open-end lines of
                  credit)
                  

              	
                High
                  Cost Home Loan 

              
	
                Ohio
                  

              	
                H.B.
                  386 (codified in various sections of the Ohio Code), Ohio Rev.
                  Code Ann.
                  §§ 1349.25 et
                  seq.
                  

                Effective
                  May 24, 2002 

              	
                Covered
                  Loan 

              
	
                Oklahoma
                  

              	
                Consumer
                  Credit Code (codified in various sections of Title 14A) 

                Effective
                  July 1, 2000; amended effective January 1, 2004 

              	
                Subsection
                  10 Mortgage 

              
	
                South
                  Carolina 

              	
                South
                  Carolina High Cost and Consumer Home Loans Act, S.C. Code 

              	
                High
                  Cost Home Loan 

              

      

      

      

      Standard
        & Poor’s High Cost Loan Categorization 

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending Law/Effective Date

              	
                Category
                  under Applicable Anti-Predatory Lending Law

              
	 	
                Ann.
                  §§ 37-23-10 et seq.
                  

                Effective
                  for loans taken on or after January 1, 2004 

              	 
	
                West
                  Virginia 

              	
                West
                  Virginia Residential Mortgage Lender, Broker and Servicer Act,
                  W. Va. Code
                  Ann. §§ 31-17-1 et
                  seq.
                  

                Effective
                  June 5, 2002 

              	
                West
                  Virginia Mortgage Loan Act Loan 

              

      

      

      Standard
        & Poor’s Covered Loan Categorization 

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending Law/Effective Date

              	
                Category
                  under Applicable Anti-Predatory Lending Law

              
	
                Georgia
                  (Oct. 1, 2002 - Mar. 6, 2003) 

              	
                Georgia
                  Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et
                  seq.
                  

                Effective
                  October 1, 2002 - March 6, 2003 

              	
                Covered
                  Loan 

              
	
                New
                  Jersey 

              	
                New
                  Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22
                  et
                  seq.
                  

                Effective
                  November 27, 2003 - July 5, 2004 

              	
                Covered
                  Home Loan 

              

      

      

      Standard
        & Poor’s Home Loan Categorization 

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending Law/Effective Date

              	
                Category
                  under Applicable Anti-Predatory Lending Law

              
	
                Georgia
                  (Oct. 1, 2002 - Mar. 6, 2003) 

              	
                Georgia
                  Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et
                  seq.
                  

                Effective
                  October 1, 2002 - March 6, 2003 

              	
                Home
                  Loan 

              
	
                New
                  Jersey 

              	
                New
                  Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22
                  et
                  seq.
                  

                Effective
                  for loans closed on or after November 27, 2003

              	
                Home
                  Loan 

              

      

      

      Standard
        & Poor’s Home Loan Categorization 

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending Law/Effective Date

              	
                Category
                  under Applicable Anti-Predatory Lending Law

              
	
                New
                  Mexico 

              	
                Home
                  Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et
                  seq.
                  

                Effective
                  as of January 1, 2004; Revised as of February 26, 2004 

              	
                Home
                  Loan 

              
	
                North
                  Carolina 

              	
                Restrictions
                  and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E
                  et
                  seq.
                  

                Effective
                  July 1, 2000; amended October 1, 2003 (adding open-end lines of
                  credit)
                  

              	
                Consumer
                  Home Loan 

              
	
                South
                  Carolina 

              	
                South
                  Carolina High Cost and Consumer Home Loans Act, S.C. Code Ann.
§§ 37-23-10
                  et
                  seq.
                  

                Effective
                  for loans taken on or after January 1, 2004 

              	
                Consumer
                  Home Loan 

              

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      

      SCHEDULE
        A

       

      REQUIRED
        RATINGS FOR EACH CLASS OF CERTIFICATES

       

      Public
        Certificates

      

      
        	
                Class

              	
                S&P

              	
                Moody’s

              
	
                I-A-1

              	
                AAA

              	
                Aaa

              
	
                I-A-2

              	
                AAA

              	
                Aaa

              
	
                I-A-3

              	
                AAA

              	
                Aaa

              
	
                II-A

              	
                AAA

              	
                Aaa

              
	
                M-1

              	
                AA+

              	
                Aa1

              
	
                M-2

              	
                AA

              	
                Aa2

              
	
                M-3

              	
                AA-

              	
                Aa3

              
	
                M-4

              	
                A+

              	
                A1

              
	
                M-5

              	
                A

              	
                A2

              
	
                M-6

              	
                A-

              	
                A3

              
	
                M-7

              	
                BBB+

              	
                Baa1

              
	
                M-8

              	
                BBB

              	
                Baa2

              
	
                M-9

              	
                BBB-

              	
                Baa3

              

      

      

      None
        of
        the above ratings has been lowered, qualified or withdrawn since the dates
        of
        issuance of such ratings by the Rating Agencies.

       

      

      Private
        Certificates

      

      
        	
                Class

              	
                S&P

              	
                Moody’s

              
	
                M-10

              	
                BB+

              	
                Ba1

              
	
                M-11

              	
                BB

              	
                Ba2

              
	
                CE

              	
                Not
                  Rated

              	
                Not
                  Rated

              
	
                P

              	
                Not
                  Rated

              	
                Not
                  Rated

              
	
                R-1

              	
                Not
                  Rated

              	
                Not
                  Rated

              
	
                R-2

              	
                Not
                  Rated

              	
                Not
                  Rated

              
	
                R-3

              	
                Not
                  Rated

              	
                Not
                  Rated

              
	
                RX

              	
                Not
                  Rated

              	
                Not
                  Rated

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        M

       

      SWAP
        AGREEMENT

       

      

      SCHEDULE

      to
        the

      MASTER
        AGREEMENT

      dated
        as
        of May 30, 2006 between

      WACHOVIA
        BANK, NATIONAL ASSOCIATION (“Party
        A”)

      and LaSalle
        Bank National Association, not individually, but solely as Supplemental Interest
        

      Trust
        Trustee on behalf of the Supplemental Interest Trust with respect to Bear
        Stearns Asset-Backed Securities I Trust 2006-HE5, Asset-Backed
        Certificates, Series 2006-HE5 (“Party
        B”)

       

      Part
        1. Termination
        Provisions

       

      
        	
                (a)

              	
                “Specified
                  Entity”
                  means, with respect to Party A for all purposes of this Agreement,
                  none
                  specified, and with respect to Party B for all purposes of this
                  Agreement,
                  none specified. 

              

      

       

      
        	
                (b)

              	
                “Specified
                  Transaction”
                  is
                  not applicable to Party A or Party B for any
                  purpose.

              

      

       

      
        	
                (c)

              	
                “Cross
                  Default”
                  does not apply to Party A or Party
                  B.

              

      

       

      
        	
                (d)

              	
                “Credit
                  Event Upon Merger”
                  does not apply to Party A or Party
                  B.

              

      

       

      
        	
                (e)

              	
                “Automatic
                  Early Termination”
                  does not apply to Party A or Party
                  B.

              

      

       

      
        	
                (f)

              	
                Payments
                  on Early Termination. Except
                  as otherwise provided in this Schedule, “Market Quotation” and the “Second
                  Method” apply. In the case of any Terminated Transaction that is, or is
                  subject to, any unexercised option, the words “economic equivalent of any
                  payment or delivery” appearing in the definition of “Market Quotation”
                  shall be construed to take into account the economic equivalent
                  of the
                  option.

              

      

       

      
        	
                (g)

              	
                “Termination
                  Currency”
                  means United States Dollars.

              

      

       

      
        	
                (h)

              	
                Limitation
                  on Defaults by Party A
                  and Party B.
                  The Events of Default specified in Section 5 of this Agreement
                  shall not
                  apply to Party A
                  or Party B
                  except for the following:

              

      

       

      
        	 	
                (i)

              	
                Section
                  5(a)(i) of this Agreement (Failure to Pay or Deliver), which for
                  the
                  avoidance of doubt shall also apply with respect to Party B in
                  the event
                  the Swap Administrator fails to make any payments required to be
                  made to
                  Party A under the Swap Administration
                  Agreement;

              

      

       

      
        	 	
                (ii)

              	
                Section
                  5(a)(vii) of this Agreement (Bankruptcy), provided
                  that the failure to make any payment of interest on or principal
                  of any
                  class of Certificates which does not give rise to an event of default
                  pursuant to the terms of the Pooling and Servicing Agreement shall
                  not be
                  deemed to constitute a Bankruptcy within the meaning of clause
                  (2) thereof
                  with respect to Party B; 

              

      

       

      
        	 	
                (iii)

              	
                Section
                  5(a)(viii) of this Agreement (Merger Without Assumption);
                  and

              

      

       

      
        	 	
                (iv)

              	
                With
                  respect to Party A only, Section 5(a)(iii) of this Agreement (Credit
                  Support Default). 

              

      

       

      
        	
                (i)

              	
                Additional
                  Termination Events.

              

      

       

      
        	 	
                (i)

              	
                The
                  occurrence of any of the following events shall be an Additional
                  Termination Event:

              

      

       

      
        	 	
                (A)

              	
                the
                  unsecured and unsubordinated debt, deposit or letter of credit
                  obligations
                  of Party A or its Credit Support Provider, as applicable, are assigned
                  a
                  rating by Moody’s below the Hedge Counterparty Required Ratings of Moody’s
                  (“Moody’s
                  Required Rating Downgrade Event”),
                  and Party A fails to make a Permitted Transfer (as defined below)
                  in
                  accordance with the provisions of Part 1(i)(iv) of this Schedule,
                  provided,
                  however,
                  that termination due to any such Moody’s Required Rating Downgrade Event
                  shall not be permitted if Moody’s agrees in writing that it will not
                  downgrade, reduce, suspend or withdraw Moody’s then-current rating on any
                  class of Certificates if this Agreement remains in full force and
                  effect
                  with respect to each transaction hereunder. Party A shall notify
                  Party B
                  within five (5) Business Days of the occurrence of a Moody’s Required
                  Rating Downgrade Event; 

              

      

       

      
        	 	
                (B)

              	
                the
                  unsecured and unsubordinated debt of Party A or its Credit Support
                  Provider, as applicable, are assigned a rating by S&P below the Hedge
                  Counterparty Required Ratings of S&P or such rating is withdrawn by
                  S&P (“S&P
                  Required Rating Downgrade Event”,
                  and collectively with the Moody’s Required Rating Downgrade Event, a
                  “Required
                  Rating Downgrade Event”),
                  and Party A fails to make a Permitted Transfer in accordance with
                  the
                  provisions of Part 6(a)(ii) of this Schedule within seven (7) days
                  of such
                  S&P Required Rating Downgrade Event, provided,
                  however,
                  that termination due to any such S&P Required Rating Downgrade Event
                  shall not be permitted if S&P confirms in writing that it will not
                  downgrade, reduce, suspend or withdraw S&P’s then-current rating on
                  any class of Certificates if this Agreement remains in full force
                  and
                  effect with respect to each transaction hereunder. Party A shall
                  notify
                  Party B within one (1) Business Day of the occurrence of a S&P
                  Required Rating Downgrade Event; 

              

      

       

      
        	 	
                (C)

              	
                the
                  unsecured and unsubordinated debt of Party A or its Credit Support
                  Provider, as applicable, are assigned a rating by any Rating Agency
                  below
                  the Hedge Counterparty Collateral Threshold Rating of that Rating
                  Agency
                  (“Collateral
                  Rating Downgrade Event”),
                  unless Party A either (i) transfers to Party B’s Custodian under a Credit
                  Support Annex an amount of Eligible Collateral under terms and
                  in an
                  amount subject to prior Rating Agency confirmation from each Rating
                  Agency
                  that such agreement will not cause the reduction or withdrawal
                  on its then
                  current rating on any outstanding Class of Certificates with respect
                  to
                  which it has previously issued a rating (the “Rating
                  Agency Condition”)
                  or (ii) makes a Permitted Transfer with respect to the Affected
                  Transactions or (iii) provides Alternative Credit Support with
                  respect to
                  the Affected Transactions, in each case, on or before the Credit
                  Support
                  Commencement Date (as defined below). Party A shall notify Party
                  B within
                  five (5) Business Days of the occurrence of a Collateral Rating
                  Downgrade
                  Event;

              

      

       

      
        	 	
                (D)

              	
                The
                  Trustee declares the Certificates due and payable for any reason
                  and such
                  declaration is (or becomes) unrescindable or
                  irrevocable;

              

      

       

      
        	 	
                (E)

              	
                Party
                  B fails to comply with sub-paragraph (f)(i) of Part 6 of this
                  Schedule;

              

      

       

      
        	 	
                (F)

              	
                Any
                  mandatory redemption, auction call redemption, optional redemption,
                  tax
                  redemption, clean-up call, termination upon liquidation or repurchase
                  in
                  full of all mortgage loans or other prepayment in full or repayment
                  in
                  full of all Certificates outstanding occurs under the Pooling and
                  Servicing Agreement (or any notice is given to that effect and
                  such
                  mandatory redemption, auction call redemption, optional redemption,
                  tax
                  redemption, clean-up call or other prepayment or repayment is not
                  capable
                  of being rescinded); or

              

      

       

      
        	 	
                (G)

              	
                After
                  the occurrence of a Swap Disclosure Event (as defined in Part 6(j)
                  below) Party A has not complied with any of the provisions set forth
                  in Part 6(j)(iii) below.

              

      

       

      
        	 	
                (ii)

              	
                For
                  purposes of the right to terminate under Section 6(b)(iv), Party
                  A will be
                  the sole Affected Party for any Additional Termination Event described
                  in
                  clause (A), (B), (C) or (G) of sub-paragraph (i) above, and Party
                  B will
                  be the sole Affected Party for any other Additional Termination
                  Event.

              

      

       

      
        	 	
                (iii)

              	
                Notwithstanding
                  which party is the Affected Party for any Additional Termination
                  Event,
                  upon the occurrence of an Early Termination Date for any Additional
                  Termination Event under this Part 1(i), Party A shall make the
                  calculations under Section 6(e) of this Agreement as though it
                  were the
                  non-Affected Party for purposes of Section 6(e)(ii)(1) of this
                  Agreement,
                  provided
                  that any Market Quotation for any Transaction terminated pursuant
                  to
                  clause (A), (B), (C) or (G) of subparagraph (i) above shall be
                  the
                  Reference Market-maker’s price for entering into a Replacement Transaction
                  with a creditworthy counterparty in which the Reference Market-maker
                  would
                  take the side that Party A had taken in the Terminated Transaction,
                  and
                  for any Transaction terminated pursuant to any other Additional
                  Termination Event, shall be the Reference Market-maker’s price for
                  entering into a Replacement Transaction with a creditworthy counterparty
                  in which the Reference Market-maker would take the side that Party
                  B had
                  taken in the Terminated
                  Transaction.

              

      

       

      
        	 	
                (iv)

              	
                If
                  a Moody’s Required Rating Downgrade Event occurs and Party A fails to make
                  a Permitted Transfer within thirty days of its initial failure
                  to maintain
                  the Hedge Counterparty Required Rating, then, beginning on the
                  Over-collateralization Commencement Date and continuing until Party
                  A has
                  made a Permitted Transfer of the Affected Transactions, Party A
                  shall
                  transfer to Party B’s Custodian under a Credit Support Annex an amount of
                  Eligible Collateral under terms and in an amount subject to Moody’s
                  confirmation that such agreement will not cause the reduction or
                  withdrawal on its then current rating on any class of Certificates.
                  The
                  posting of such collateral by Party A shall have the effect that
                  no
                  Additional Termination Event under Part 1(i)(i)(A) shall exist
                  with
                  respect to the Affected Transactions unless Party A has not made
                  a
                  Permitted Transfer of the Affected Transactions within 60 days
                  after its
                  initial failure to maintain the Hedge Counterparty Required Rating.
                  Party
                  A shall continue to post collateral following such 60 day period
                  in
                  accordance with the terms of this Agreement until the earlier to
                  occur of
                  consummation of a Permitted Transfer or termination of this Agreement.
                  At
                  all times following the occurrence of an Over-Collateralization
                  Commencement Date relating to a Moody’s Required Rating Downgrade Event,
                  Party A will continue to use its best efforts to find a replacement
                  party
                  which maintains (or its proposed guarantor maintains) the Hedge
                  Counterparty Collateral Threshold Rating from each Rating Agency.
                  

              

      

       

      
        	 	
                (v)

              	
                If
                  a Collateral Rating Downgrade Event occurs, Party A shall, at its
                  own
                  expense, within 30 days of its initial failure to maintain the
                  Hedge
                  Counterparty Collateral Threshold Rating, either (a) make a Permitted
                  Transfer with respect to the Affected Transactions, (b) beginning
                  on the
                  Credit Support Commencement Date and continuing until Party A has
                  made a
                  Permitted Transfer of the Affected Transactions, transfer to Party
                  B’s
                  Custodian under a Credit Support Annex an amount of Eligible Collateral
                  under terms and in an amount subject to satisfaction of the Rating
                  Agency
                  Condition or (c) provide Alternative Credit Support with respect
                  to the
                  Affected Transactions. If a S&P Required Rating Downgrade Event
                  occurs, Party A, at its own expense shall make a Permitted Transfer
                  in
                  accordance with the provisions of Part 6(a)(ii) of this Schedule
                  within
                  seven (7) days of such S&P Required Rating Downgrade Event. The
                  posting of such collateral, provision of Alternative Credit Support
                  or
                  Permitted Transfer by Party A shall have the effect that no Additional
                  Termination Event under Part 1(i)(i)(C) or Part 1(i)(i)(B), as
                  applicable,
                  shall exist with respect to the Affected
                  Transactions.

              

      

       

      
        	 	
                (vi)

              	
                “Hedge
                  Counterparty Required Rating”
                  means, as applicable, (i) with respect to a Person as an issuer
                  or with
                  respect to long-term senior unsecured debt of such Person, (a)
“A1” by
                  Moody’s to the extent such Person has a long-term rating only (for so
                  long
                  as any Certificates are outstanding under the Pooling and Servicing
                  Agreement and are rated by Moody’s); or (b) “A2” by Moody’s to the extent
                  such Person has both a long-term and short-term rating and the
                  short-term
                  rating is “P-1” (for so long as any Certificates are outstanding under the
                  Pooling and Servicing Agreement and are rated by Moody’s); and (ii) with
                  respect to a Person as an issuer or with respect to the long-term
                  senior
                  unsecured debt of such Person, “BBB-” by S&P or a short-term debt
                  rating of “A-3” by S&P (for
                  so long as any Certificates are outstanding under the Pooling and
                  Servicing Agreement and are rated by S&P); provided
                  that should a Rating Agency effect an overall downward adjustment
                  of its
                  short-term or long-term ratings, then the applicable Hedge Counterparty
                  Required Rating shall be downwardly adjusted accordingly; provided,
                  further,
                  that any adjustment to a rating shall be subject to the prior written
                  consent of the applicable Rating Agency.

              

      

       

      
        	 	
                (vii)

              	
                “Hedge
                  Counterparty Collateral Threshold Rating”
                  means, as applicable, (i) with respect to a Person as an issuer
                  or with
                  respect to the long-term senior unsecured debt of such Person,
“A1” and
                  not on “Watch For Downgrade” (and the short-term debt of such Person is
                  rated “P-1”and not on “Watch For Downgrade”) or “Aa3” and not on “Watch
                  For Downgrade” (if only the long-term debt obligations of such Person are
                  rated by Moody’s) or such Person or such debt has such ratings but is on
                  “Watch for Downgrade” with respect to any of such ratings by Moody’s (for
                  so long as any Certificates are outstanding under the Pooling and
                  Servicing Agreement and rated by Moody’s); and (ii) a short-term debt
                  rating of “A-1” by S&P, or, if such Person does not have a short-term
                  debt rating, such Person as an issuer or with respect to the long-term
                  senior unsecured debt of such Person has a rating of “A+” in each case, by
                  S&P (for so long as any Certificates are outstanding under the Pooling
                  and Servicing Agreement and are rated by S&P); provided
                  that should a Rating Agency effect an overall downward adjustment
                  of its
                  short-term or long-term ratings, then the applicable Hedge Counterparty
                  Collateral Threshold Rating shall be downwardly adjusted accordingly;
                  provided,
                  further,
                  that any adjustment to a rating shall be subject to the prior written
                  consent of the applicable Rating Agency.

              

      

       

      
        	 	
                (viii)

              	
                “Alternative
                  Credit Support”
                  means an absolute and unconditional guarantee, credit intermediation
                  arrangement, letter of credit or other additional credit support
                  or
                  collateral, in a form which meets the applicable Rating Agency’s then
                  current criteria with respect to such types of credit support reasonably
                  acceptable to the applicable Rating Agency issuing the ratings
                  subject to
                  the applicable Required Rating Downgrade Event or Collateral Rating
                  Downgrade Event and for which the Rating Agency Condition is
                  satisfied.

              

      

       

      
        	 	
                (ix)

              	
                “Over-collateralization
                  Commencement Date”
                  means
                  the first Business Day following the thirty-day period after Party
                  A’s
                  failure to maintain the Hedge Counterparty Required Rating with
                  respect to
                  Moody’s. 

              

      

       

      
        	 	
                (x)

              	
                “Credit
                  Support Commencement Date”
                  means: (A) in connection with a Collateral Rating Downgrade Event
                  that is
                  not related to an Over-collateralization Commencement Date, the
                  first
                  Business Day following the 30-day period after the occurrence of
                  the
                  Collateral Rating Downgrade Event; (B) in connection with an
                  Over-collateralization Commencement Date, the Over-collateralization
                  Commencement Date; or (C) in connection with a Moody’s Required Rating
                  Downgrade Event that is not related to an Over-collateralization
                  Commencement Date, the first Business Day following the 10-day
                  period
                  after the occurrence of the Moody’s Required Rating Downgrade
                  Event.

              

      

       

      
        	 	
                (xi)

              	
                “Rating
                  Agency”
                  means, as applicable, each of Standard & Poor's Ratings Services, a
                  division of The McGraw-Hill Companies (“S&P”)
                  (so long as any Certificates deemed outstanding under the Pooling
                  and
                  Servicing Agreement are rated by S&P) and Moody’s Investors Service,
                  Inc. (“Moody’s”)
                  (so long as any Certificates deemed outstanding under the Pooling
                  and
                  Servicing Agreement are rated by Moody’s).

              

      

       

      
        	
                (j)

              	
                Events
                  of Default.
                  An Event of Default shall not occur with respect to Party A when the
                  failure to pay or deliver, or the default, event of default or
                  other
                  similar condition or event, as the case maybe, arises solely (i) out
                  of a wire transfer problem or an operational or administrative
                  error or
                  omission (so long as the required funds or property required to
                  make that
                  payment or delivery were otherwise available to Party A), or
                  (ii) from the general unavailability of the relevant currency due to
                  exchange controls or other similar governmental action, but in
                  either case
                  only if the payment or delivery is made within three Local Business
                  Days
                  after the problem has been corrected, the error or omission has
                  been
                  discovered or the currency becomes generally
                  available.

              

      

       

      Part
        2. Tax
        Provisions

       

      
        	
                (a)

              	
                Payer
                  Tax Representations.
                  For the purpose of Section 3(e) of this Agreement, each party makes
                  the
                  following representation:

              

      

       

      It
        is not
        required by any applicable law, as modified by the practice of any relevant
        governmental revenue authority, of any Relevant Jurisdiction to make any
        deduction or withholding for or on account of any Tax from any payment (other
        than interest under Section 2(e), 6(d)(ii) or 6(e) of this Agreement) to
        be made
        by it to the other party under this Agreement.

       

      In
        making
        this representation, a party may rely on (i) the accuracy of any representations
        made by the other party pursuant to Section 3(f) of this Agreement, (ii)
        the
        satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of
        this
        Agreement, and the accuracy and effectiveness of any document provided by
        the
        other party pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement, and
        (iii) the satisfaction of the agreement of the other party contained in Section
        4(d) of this Agreement, provided
        that it
        shall not be a breach of this representation where reliance is placed on
        clause
        (ii) above and the other party does not deliver a form or document under
        Section
        4(a)(iii) by reason of material prejudice to its legal or commercial
        position.

       

      
        	
                (b)

              	
                Payee
                  Tax Representations.
                  For the purpose of Section 3(f) of this
                  Agreement:

              

      

       

      
        	 	
                (i)

              	
                Party
                  A makes the following
                  representation(s):

              

      

       

      
        	 	
                (A)

              	
                It
                  is a national banking association organized or formed under the
                  laws of
                  the United States and is a United States resident for United States
                  federal income tax purposes.

              

      

       

      
        	 	
                (B)

              	
                Party
                  A makes no other Payee Tax
                  Representations.

              

      

       

      
        	 	
                (ii)

              	
                Party
                  B makes the following
                  representation(s):

              

      

       

      
        	 	
                (A)

              	
                Party
                  B is a common law trust formed under the laws of the State of New
                  York.

              

      

       

      
        	
                (c)

              	
                Tax
                  Forms.

              

      

       

      
        	 	
                (i)

              	
                Delivery
                  of Tax Forms.
                  For the purpose of Section 4(a)(i), and without limiting Section
                  4(a)(iii), each party agrees to duly complete, execute and deliver
                  to the
                  other party the tax forms specified below with respect to it (A)
                  before
                  the first Payment Date under this Agreement, (B) promptly upon
                  reasonable
                  demand by the other party and (C) promptly upon learning that any
                  such
                  form previously provided by the party has become obsolete or
                  incorrect.

              

      

       

      
        	 	
                (ii)

              	
                Tax
                  Forms to be Delivered by Party A:

              

      

       

      Party
        A
        will deliver or cause to be delivered a correct, complete and duly executed
        U.S.
        Internal Revenue Service Form W-9 (or successor thereto), together with
        appropriate attachments, that eliminates U.S. federal withholding and backup
        withholding tax on payments to Party A under this Agreement.

       

      
        	 	
                (iii)

              	
                Tax
                  forms to be Delivered by Party B:

              

      

       

      Party
        B
        will deliver or cause to be delivered a correct, complete and duly executed
        U.S.
        Internal Revenue Service Form W-9 (or successor thereto), together with
        appropriate attachments, that eliminates U.S. federal withholding and backup
        withholding tax on payments to Party B under this Agreement.

       

      Part
        3. Documents

       

      
        	
                (a)

              	
                Delivery
                  of Documents.
                  When it delivers this Agreement, each party shall also deliver
                  its Closing
                  Documents to the other party in form and substance reasonably satisfactory
                  to the other party. For each Transaction, a party shall deliver,
                  promptly
                  upon request, a duly executed incumbency certificate for the person(s)
                  executing the Confirmation for that Transaction on behalf of that
                  party.

              

      

       

      
        	
                (b)

              	
                Closing
                  Documents.

              

      

       

      
        	 	
                (i)

              	
                For
                  Party A, “Closing
                  Documents”
                  mean:

              

      

       

      
        	 	
                (A)

              	
                an
                  opinion of Party A’s counsel addressed to Party B and
                  the Rating Agencies in
                  form and substance acceptable to Party B
                  and the Rating Agencies;

              

      

       

      
        	 	
                (B)

              	
                a
                  duly executed incumbency certificate for each person executing
                  this
                  Agreement for Party A, or in lieu thereof, a copy of the relevant
                  pages of
                  its official signature book; and

              

      

       

      
        	 	
                (C)

              	
                each
                  Credit Support Document (if any) specified for Party A in this
                  Schedule,
                  together with a duly executed incumbency certificate for the person(s)
                  executing that Credit Support Document, or in lieu thereof, a copy
                  of the
                  relevant pages of its official signature
                  book.

              

      

       

      
        	 	
                (ii)

              	
                For
                  Party B, “Closing
                  Documents”
                  mean:

              

      

       

      
        	 	
                (A)

              	
                an
                  opinion of Party B’s counsel addressed to Party A
                  and
                  the Rating Agencies in
                  form and substance acceptable to Party A
                  and the Rating Agencies;

              

      

       

      
        	 	
                (B)

              	
                a
                  duly executed copy of the Pooling and Servicing Agreement, the
                  Swap
                  Administration Agreement and the other operative documents relating
                  thereto and referred to therein, executed and delivered by the
                  parties
                  thereto.

              

      

       

      
        	 	
                (C)

              	
                a
                  copy, certified by the secretary or assistant secretary of Party
                  B, of the
                  resolutions of the board of directors of Party B authorizing the
                  execution, delivery and performance by Party B of this Agreement
                  and
                  authorizing Party B to enter into Transactions hereunder;
                  and

              

      

       

      
        	 	
                (D)

              	
                a
                  duly executed certificate of the secretary or directors of Party
                  B
                  certifying the name and true signature of each person authorized
                  to
                  execute this Agreement and enter into Transactions for Party
                  B.

              

      

       

      Part
        4. Miscellaneous

       

      
        	
                (a)

              	
                Addresses
                  for Notices. For
                  purposes of Section 12(a) of this Agreement, all notices to a party
                  shall,
                  with respect to any particular Transaction, be sent to its address,
                  telex
                  number or facsimile number specified in the relevant Confirmation,
                  provided
                  that any notice under Section 5 or 6 of this Agreement, and any
                  notice
                  under this Agreement not related to a particular Transaction, shall
                  be
                  sent to a party at its address, telex number or facsimile number
                  specified
                  below; provided,
                  further,
                  that any notice under the Credit Support Annex shall be sent to
                  a party at
                  its address, telex number or facsimile number specified in the
                  Credit
                  Support Annex. 

              

      

       

      To
        Party A:

       

      Wachovia
        Bank, National Association

      301
        South
        College, DC-8

      Charlotte,
        NC 28202-0600

      Attention:
        Bruce M. Young

      Senior
        Vice President, Risk Management

      Fax:
        (704) 383-0575

      Phone:
        (704) 383-8778

       

      To
        Party B:

       

      LaSalle
        Bank National Association, not individually, but solely as Supplemental Interest
        Trust Trustee on behalf of the Supplemental Interest Trust with respect to
        Bear
        Stearns Asset-Backed Securities I Trust 2006-HE5, Asset-Backed
        Certificates, Series 2006-HE5

       

      135
        South
        LaSalle Street, Suite 1625

      Chicago,
        Illinois 60603

      Attention:
        Securities and Trust Services Group—Bear Stearns Asset Backed Securities I
        Supplemental Interest Trust 2006-HE5

      Fax:
        (312) 904-1368

       

      

      
        	
                (b)

              	
                Process
                  Agent.
                  For the purpose of Section 13(c) of this Agreement, Party B irrevocably
                  appoints as its Process Agent hereunder: Not Applicable.
                  

              

      

       

      
        	
                (c)

              	
                Offices.
                  Section 10(a) will not apply to this
                  Agreement.

              

      

       

      
        	
                (d)

              	
                Multibranch
                  Party.
                  Neither party is a Multibranch
                  Party.

              

      

       

      
        	
                (e)

              	
                “Calculation
                  Agent” means Party A.

              

      

       

      
        	
                (f)

              	
                Credit
                  Support Document.

              

      

       

      
        	 	
                (i)

              	
                For
                  Party A, the following is a Credit Support Document: any applicable
                  Credit
                  Support Annex or document governing Alternative Credit Support
                  beginning
                  on the effective date of such Credit Support Annex or
                  document.

              

      

       

      
        	 	
                (ii)

              	
                For
                  Party B, the following is a Credit Support Document: none specified.
                  

              

      

       

      
        	
                (g)

              	
                Credit
                  Support Provider.

              

      

       

      
        	 	
                (i)

              	
                For
                  Party A, Credit Support Provider means: none specified; provided
                  that such party (other than Party A) executing a document governing
                  Alternative Credit Support shall be a Credit Support Provider hereunder
                  beginning on the effective date of such
                  document.

              

      

       

      
        	 	
                (ii)

              	
                For
                  Party B, Credit Support Provider means: none specified.
                  

              

      

       

      
        	
                (h)

              	
                Governing
                  Law.
                  This Agreement will be governed by and construed in accordance
                  with the
                  law (and not the law of conflicts except with respect to §§ 5-1401
                  and 5-1402 of the New York General Obligations Law) of the State
                  of New
                  York.

              

      

       

      
        	
                (i)

              	
                Waiver
                  of Jury Trial.
                  To
                  the extent permitted by applicable law, each party irrevocably
                  waives any
                  and all right to trial by jury in any legal proceeding in connection
                  with
                  this Agreement, any Credit Support Document to which it is a party,
                  or any
                  Transaction.

              

      

       

      
        	
                (j)

              	
                Netting
                  of Payments.
                  Section 2(c)(ii) of this Agreement will
                  apply.

              

      

       

      
        	
                (k)

              	
                “Affiliate”
                  has its meaning as defined in Section 14 of this Agreement; provided
                  that
                  Party B shall be deemed to not have any Affiliates for purposes
                  of this
                  Agreement.

              

      

       

      Part
        5. Other
        Provisions

       

      
        	
                (a)

              	
                ISDA
                  Publications.

              

      

       

      
        	 	
                (i)

              	
                2000
                  ISDA Definitions.
                  This Agreement and each Transaction are subject to the 2000 ISDA
                  Definitions (including its Annex) published by the International
                  Swaps and
                  Derivatives Association, Inc. (together, the “2000 ISDA Definitions”) and
                  will be governed by the provisions of the 2000 ISDA Definitions.
                  The
                  provisions of the 2000 ISDA Definitions are incorporated by reference
                  in,
                  and shall form part of, this Agreement and each Confirmation. Any
                  reference to a “Swap Transaction” in the 2000 ISDA Definitions is deemed
                  to be a reference to a “Transaction” for purposes of this Agreement or any
                  Confirmation, and any reference to a “Transaction” in this Agreement or
                  any Confirmation is deemed to be a reference to a “Swap Transaction” for
                  purposes of the 2000 ISDA Definitions. The provisions of this Agreement
                  (exclusive of the 2000 ISDA Definitions) shall prevail in the event
                  of any
                  conflict between such provisions and the 2000 ISDA
                  Definitions.

              

      

       

      
        	
                (b)

              	
                Additional
                  Representations. Section
                  3 is amended by adding the following Sections 3(g) and
                  (h):

              

      

       

      “(g)
        Non-Reliance.
        For any
        Relevant Agreement: (i) it acts as principal and not as agent, (ii) it
        acknowledges that the other party acts only arm’s length and is not its agent,
        broker, advisor or fiduciary in any respect, and any agency, brokerage, advisory
        or fiduciary services that the other party (or any of its affiliates) may
        otherwise provide to the party (or to any of its affiliates) excludes the
        Relevant Agreement, (iii) it is relying solely upon its own evaluation of
        the
        Relevant Agreement (including the present and future results, consequences,
        risks, and benefits thereof, whether financial, accounting, tax, legal, or
        otherwise) and upon advice from its own professional advisors, (iv) it
        understands the Relevant Agreement and those risks, has determined they are
        appropriate for it, and willingly assumes those risks, (v) it has not relied
        and
        will not be relying upon any evaluation or advice (including any recommendation,
        opinion, or representation) from the other party, its affiliates or the
        representatives or advisors of the other party or its affiliates (except
        representations expressly made in the Relevant Agreement or an opinion of
        counsel required thereunder); and (vi) if a party is acting as a Calculation
        Agent or Valuation Agent, it does so not as the other party’s agent or
        fiduciary, but on an arm’s length basis for the purpose of performing an
        administrative function in good faith. 

       

      “Relevant
        Agreement”
means
        this Agreement, each Transaction, each Confirmation, any Credit Support
        Document, and any agreement (including any amendment, modification, transfer
        or
        early termination) between the parties relating thereto or to any
        Transaction.

       

      (h)
        Eligibility.
        It is an
“eligible contract participant” within the meaning of the Commodity Exchange Act
        (as amended by the Commodity Futures Modernization Act of 2000).

       

      
        	
                (c)

              	
                Recorded
                  Conversations.
                  Each party and any of its Affiliates may electronically record
                  any of its
                  telephone conversations with the other party or with any of the
                  other
                  party’s Affiliates in connection with this Agreement or any Transaction,
                  and any such recordings may be submitted in evidence in any proceeding
                  to
                  establish any matters pertinent to this Agreement or any
                  Transaction.

              

      

       

      Part
        6. Additional
        Terms 

       

      
        	
                (a)

              	
                Permitted
                  Transfers.

              

      

       

      
        	 	
                (i)

              	
                Notwithstanding
                  Section 7 of this Agreement, Party A may make a Permitted Transfer
                  without
                  the prior written consent of Party B, and at Party A’s own cost and
                  expense, if either of the following events
                  occurs:

              

      

       

      
        	 	
                (A)

              	
                the
                  unsecured and unsubordinated debt, deposit or letter of credit
                  obligations
                  of Party A are rated below the Hedge Counterparty Required Rating
                  or the
                  Hedge Counterparty Collateral Threshold Rating by any Rating Agency
                  at the
                  time of the transfer; or

              

      

       

      
        	 	
                (B)

              	
                if
                  consented to by Party B (such consent not to be unreasonably withheld),
                  any Tax Event or Tax Event Upon Merger exists with respect to Party
                  A at
                  the time of the transfer. 

              

      

       

      
        	 	
                (ii)

              	
                “Permitted
                  Transfer”
                  means a transfer, in whole but not in part, of all of Party A’s rights and
                  obligations under this Agreement and which meets all of the following
                  requirements:

              

      

       

      
        	 	
                (A)

              	
                the
                  transferee is a recognized dealer in interest rate swaps organized
                  under
                  the laws of the United States of America or a jurisdiction located
                  in the
                  United States of America (or another jurisdiction reasonably acceptable
                  to
                  Party B that, at the time of the transfer, maintains (or its proposed
                  guarantor maintains) the Hedge Counterparty Collateral Threshold
                  Rating
                  from each Rating Agency on its unsecured and unsubordinated debt,
                  deposit
                  or letter of credit obligations; 

              

      

       

      
        	 	
                (B)

              	
                the
                  Rating Agency Condition is satisfied with respect to such
                  transfer;

              

      

       

      
        	 	
                (C)

              	
                neither
                  an Event of Default with respect to the transferee nor a Termination
                  Event
                  would exist immediately after that transfer;
                  and

              

      

       

      
        	 	
                (D)

              	
                the
                  transferee executes and delivers a written agreement reasonably
                  satisfactory to Party B under the Pooling and Servicing Agreement
                  in which
                  the transferee, among other things, legally and effectively accepts
                  all
                  the rights and assumes all the obligations of Party A under this
                  Agreement.

              

      

       

      
        	
                (b)

              	
                Amendments. Except
                  as expressly provided in this Agreement, no amendment, modification,
                  or
                  waiver in respect of this Agreement will be effective unless (A)
                  evidenced
                  by a writing executed by each party hereto, and (B) each Rating
                  Agency
                  confirms that the amendment, modification or waiver will not cause
                  the
                  reduction or withdrawal of its then current rating on any Certificates
                  under the Pooling and Servicing
                  Agreement.

              

      

       

      
        	
                (c)

              	
                Transfer.
                  No Party to this Agreement may transfer its obligations under this
                  Agreement pursuant to (i) Section 6(b)(ii) of this Agreement
                  except upon written notice to each Rating Agency and
                  (ii) Section 7(a) of this Agreement except upon written
                  confirmation from each Rating Agency that, at such time, has assigned
                  a
                  rating to the Certificates that are outstanding under the Pooling
                  and
                  Servicing Agreement, that any such transfer
                  would not cause such Rating Agency’s then-current rating on any class of
                  Certificates to be adversely qualified, reduced, suspended or
                  withdrawn.

              

      

       

      
        	
                (d)

              	
                Payments.
                  All
                  payments to Party B under this Agreement or any Transaction shall
                  be made
                  to the appropriate Swap Account under the Pooling and Servicing
                  Agreement
                  (as set forth in the related
                  Confirmation).

              

      

       

      
        	
                (e)

              	
                Set-off.
                  Party A and Party B hereby waive any and all right of set-off with
                  respect
                  to any amounts due under this Agreement or any Transaction including
                  the
                  provisions for Set-off set forth in Section 6(e) of the Agreement,
                  provided that nothing herein shall be construed to waive or otherwise
                  limit the netting provisions contained in Sections 2(c)(ii) or
                  Section
                  6(e) of this Agreement or the setoff rights contained in the Credit
                  Support Annex.

              

      

       

      
        	
                (f)

              	
                Pooling
                  and Servicing Agreement

              

      

       

      
        	 	
                (i)

              	
                Party
                  B hereby acknowledges that Party A is a third-party beneficiary
                  under the
                  Pooling and Servicing Agreement and the Swap Administration Agreement,
                  and
                  Party B agrees for the benefit of Party A that neither it nor the
                  Depositor, the Master Servicer or the Trustee will take any action
                  (whether in the form of an amendment, a modification, supplement,
                  waiver,
                  approval, consent or otherwise) which may have a material adverse
                  effect
                  with respect to the rights, interest or benefits granted to Party
                  A under
                  the Pooling and Servicing Agreement or the Swap Administration
                  Agreement
                  with respect to this Agreement, whether or not this Agreement is
                  specifically referred to or identified therein without the consent
                  of
                  Party A (such consent not to be unreasonably
                  withheld).

              

      

       

      “Pooling
        and Servicing Agreement”
        means
        that certain Pooling and Servicing Agreement, dated as of May 1, 2006, by
        and
        among Bear
        Stearns Asset Backed Securities I LLC, as Depositor, EMC Mortgage Corporation,
        as Sponsor and Master Servicer,
        and
        LaSalle Bank National Association, as Trustee, as the same may be amended,
        modified, supplemented or restated from time to time.

       

      
        	 	
                (ii)

              	
                On
                  the date Party B executes and delivers this Agreement and on each
                  date on
                  which a Transaction is entered into, Party B hereby represents
                  and
                  warrants to Party A: that the Pooling and Servicing Agreement and
                  the Swap
                  Administration Agreement is in full force and effect; that Party
                  B is not
                  party to any separate agreement with any of the parties to the
                  Pooling and
                  Servicing Agreement or the Swap Administration Agreement that would
                  have
                  the effect of diminishing or impairing the rights, interests or
                  benefits
                  that have been granted to Party A under, and which are expressly
                  set forth
                  in, the Pooling and Servicing Agreement or the Swap Administration
                  Agreement; that Party B’s obligations under this Agreement are dependent
                  on payments under the Pooling and Servicing Agreement and the Swap
                  Administration Agreement; that the Transaction entered into under
                  this
                  Agreement constitute an “Interest Rate Swap Agreement” under the Pooling
                  and Servicing Agreement and the Swap Administration Agreement;
                  that each
                  Transaction entered into under this Agreement is an Interest Rate
                  Swap
                  Agreement under the Pooling and Servicing Agreement and the Swap
                  Administration Agreement; that Party A constitutes a Swap Provider
                  under
                  the Pooling and Servicing Agreement and the Swap Administration
                  Agreement;
                  that no Event of Default has occurred and is continuing as defined
                  in the
                  Pooling and Servicing Agreement; that nothing herein violates or
                  conflicts
                  with any of the provisions of the Pooling and Servicing Agreement,
                  the
                  Swap Administration Agreement or any other documents executed in
                  connection therewith. In addition, on each date on which a Transaction
                  is
                  entered into, Party B hereby represents and warrants to Party A:
                  that the
                  Transactions do not violate or conflict with any of the provisions
                  of the
                  Pooling and Servicing Agreement, the Swap Administration Agreement
                  or any
                  other documents executed in connection therewith; and that under
                  the terms
                  of the Pooling and Servicing Agreement and the Swap Administration
                  Agreement, neither the consent of the Trustee, the Supplemental
                  Interest
                  Trust Trustee, the Swap Administrator nor of any of the Certificateholders
                  under the Pooling and Servicing Agreement is required for Party
                  B to enter
                  into that Transaction or for Party A to be entitled for that Transaction
                  to the rights, interests and benefits granted to Party A under
                  the Pooling
                  and Servicing Agreement and the Swap Administration
                  Agreement.

              

      

       

      
        	
                (g)

              	
                Consent
                  to Notice & Communications.
                  Party B hereby consents to the giving to the Supplemental Interest
                  Trust
                  Trustee of notice by Party A of Party A’s address and telecopy and
                  telephone numbers for all purposes of the Pooling and Servicing
                  Agreement,
                  and in addition, Party A shall also be entitled at any time to
                  provide the
                  Supplemental Interest Trust Trustee with copies of this Agreement,
                  including all Confirmations. In addition, Party A shall not be
                  precluded
                  from communicating with the Trustee or any party to, or any third
                  party
                  beneficiary under, the Pooling and Servicing Agreement for the
                  purpose of
                  exercising, enforcing or protecting any of Party A’s rights or remedies
                  under this Agreement or any rights, interests or benefits granted
                  to Party
                  A under the Pooling and Servicing Agreement.

              

      

       

      
        	
                (h)

              	
                Supplemental
                  Interest Trust Trustee Liability Limitations. It
                  is expressly understood and agreed by the parties hereto that
                  (a) this Agreement is executed and delivered by LaSalle Bank National
                  Association (“LaSalle”), not individually or personally but solely as
                  trustee on behalf of the Supplemental Interest Trust, (b) each of the
                  representations, undertakings and agreements herein made on the
                  part of
                  Party B is made and intended not as personal representations, undertakings
                  and agreements by LaSalle but is made and intended for the purpose
                  of
                  binding only Party B, (c) nothing herein contained shall be construed
                  as creating any liability on LaSalle, individually or personally,
                  to
                  perform any covenant either expressed or implied contained herein,
                  all
                  such liability, if any, being expressly waived by the parties hereto
                  and
                  by any Person claiming by, through or under the parties hereto;
                  provided
                  that nothing in this paragraph shall relieve LaSalle from performing
                  its
                  duties and obligations under the Pooling and Servicing Agreement
                  in
                  accordance with the standard of care set forth therein, (d) under
                  no
                  circumstances shall LaSalle be personally liable for the payment
                  of any
                  indebtedness or expenses of Party B or be liable for the breach
                  or failure
                  of any obligation, presentation, warranty or covenant made or undertaken
                  by Party B under this Agreement or any other related documents,
                  other than
                  due to its gross negligence or willful misconduct in performing
                  the
                  obligations of the Supplemental Interest Trust Trustee under the
                  Pooling
                  and Servicing Agreement, (e) any resignation or removal of LaSalle
                  as
                  trustee on behalf of the Supplemental Interest Trust shall require
                  the
                  assignment of this agreement to LaSalle’s replacement, (f) LaSalle
                  has been directed, pursuant to the Pooling and Servicing Agreement,
                  to
                  enter into this Agreement and to perform its obligations hereunder,
                  and
                  (g) the parties hereto acknowledge and agree that under (i) the
                  Swap
                  Administration Agreement, dated as of May 30, 2006, among LaSalle
                  Bank
                  National Association, as derivative administrator (in such capacity,
                  the
                  “Swap
                  Administrator”),
                  the Supplemental Interest Trust Trustee, and the Trustee, (ii) the
                  Pooling and Servicing Agreement, and (iii) this Agreement, the Swap
                  Administrator, may act for Party B hereunder, and Party A hereby
                  acknowledges and agrees that it will, unless otherwise directed
                  by the
                  Supplemental Interest Trust Trustee or the Swap Administrator,
                  make all
                  payments hereunder to the account specified in the related Confirmations.
                  Party A shall be entitled to rely, shall be fully protected in
                  relying,
                  and shall incur no liability from relying in good faith, upon any
                  writing,
                  resolution, notice, consent, certificate, affidavit, letter, telegram,
                  facsimile or telephone message, statement or other document or
                  conversation believed by it to be genuine and correct and to have
                  been
                  signed, sent or made by the Swap Administrator.

              

      

       

      
        	
                (i)

              	
                Party
                  A Rights Solely Against Trust Fund.
                  Notwithstanding anything herein to the contrary, Party A hereunder
                  acknowledges and agrees that the liability of Party B to Party
                  A hereunder
                  (including, for the avoidance of doubt, each Confirmation hereto)
                  is
                  limited in recourse to the assets in the Trust Fund and to the
                  extent that
                  the proceeds of the assets in the Trust Fund, when applied in accordance
                  with the applicable provisions of the Pooling and Servicing Agreement,
                  are
                  insufficient to meet the obligations of Party B hereunder in full,
                  Party B
                  shall have no further liability in respect of any such outstanding
                  obligations and any obligations of Party B which remain outstanding,
                  and
                  all claims against Party B hereunder shall be extinguished. Party
                  A
                  further agrees and acknowledges that the obligations of Party B
                  hereunder
                  are solely the corporate obligations of Party B and that Party
                  A shall not
                  take any action against the directors, shareholders, administrator
                  or
                  officers of Party B to recover any amounts due hereunder (absent
                  fraud or
                  willful misconduct by any such person). This clause shall survive
                  the
                  termination of this agreement for any reason.
                  Notwithstanding the foregoing, neither party will be required to
                  pay
                  additional amounts in respect of any Indemnifiable Tax or be under
                  any
                  obligation to pay the other party any amount in respect of any
                  liability
                  of such other party for or on account of any Tax and this Part
                  6(i) shall
                  be construed accordingly.

              

      

       

      
        	 	
                (j)

              	
                Regulation
                  AB Provisions.
                  

              

      

       

      
        	 	
                (i)
                  

              	
                Party
                  A agrees and acknowledges that Bear Stearns Asset Backed Securities
                  I LLC.
                  (the “Depositor”) may be required under Regulation AB, as defined in the
                  Pooling and Servicing Agreement, to disclose certain financial
                  information
                  regarding Party A or its group of affiliated entities, if applicable,
                  depending on the aggregate “significance percentage” of the Interest Rate
                  Swap Agreement (as defined in the Pooling and Servicing Agreement),
                  as
                  calculated from time to time in accordance with Item 1115 of Regulation
                  AB. 

              

      

       

      
        	 	
                (ii)

              	
                It
                  shall be a swap disclosure event (“Swap Disclosure Event”) if, on any
                  Business Day after the date hereof for so long as the Issuing Entity
                  is
                  required to file periodic reports under the Exchange Act with respect
                  to
                  the Certificates, Party B or the Depositor requests from Party
                  A the
                  applicable financial information described in Item 1115(b) of Regulation
                  AB (such request to be based on a reasonable determination by the
                  Depositor, based on "significance estimates" made in substantially
                  the
                  same manner as that used in the Sponsor's internal risk management
                  process
                  in respect of similar instruments and furnished by the Sponsor
                  to the
                  Depositor, or if the Sponsor does not furnish such significance
                  estimates
                  to the Depositor, based on a determination of such significance
                  estimates
                  by the Depositor in a manner that it deems reasonable) (the “Swap
                  Financial Disclosure”).

              

      

       

      
        	 	
                (iii)

              	
                Upon
                  the occurrence of a Swap Disclosure Event, Party A, within ten
                  (10) days
                  and at its own expense, shall either (1)(a) either (i) provide
                  to the
                  Depositor the current Swap Financial Disclosure in an EDGAR-compatible
                  format (for example, such information may be provided in Microsoft
                  Word®
                  or Microsoft Excel® format but not in .pdf format) or (ii) provide written
                  consent to the Depositor to incorporation by reference of such
                  current
                  Swap Financial Disclosure that are filed with the Securities and
                  Exchange
                  Commission in the Exchange Act Reports of the Depositor, (b) if
                  applicable, cause its outside accounting firm to provide its consent
                  to
                  filing or incorporation by reference in the Exchange Act Reports
                  of the
                  Depositor of such accounting firm’s report relating to their audits of
                  such current Swap Financial Disclosure, and (c) provide to the
                  Depositor
                  any updated Swap Financial Disclosure with respect to Party A or
                  any
                  entity that consolidates Party A within five days of the release
                  of any
                  such updated Swap Financial Disclosure; (2) secure another entity
                  to
                  replace Party A as party to this Agreement on terms substantially
                  similar
                  to this Agreement, which entity (or a guarantor therefor) meets
                  or exceeds
                  the Approved Rating Thresholds and which entity complies with the
                  requirements of Item 1115 of Regulation AB and clause (1) above,
                  (3)
                  obtain a guaranty of Party A’s obligations under this Agreement from an
                  affiliate of Party A that complies with the financial information
                  disclosure requirements of Item 1115 of Regulation AB, and cause
                  such
                  affiliate to provide Swap Financial Disclosure and any future Swap
                  Financial Disclosure and other information pursuant to clause (1),
                  such
                  that disclosure provided in respect of such affiliate will satisfy
                  any
                  disclosure requirements applicable to the Swap Provider, or (4)
                  transfer
                  Eligible Collateral to Party B's Custodian in an amount (taking
                  into
                  account any amount posted pursuant to paragraph (o) of this Agreement,
                  if
                  any) which is sufficient, as reasonably determined in good faith
                  by the
                  Depositor, to reduce the aggregate significance percentage below
                  10% (or,
                  so long as Party A is able to provide the Swap Financial Disclosure
                  required pursuant to Item 1115(b)(1) of Regulation AB, below 20%,
                  in the
                  event Party A is requested to provide the Swap Financial Disclosure
                  required pursuant to Item 1115(b)(2) of Regulation AB).
                  

              

      

       

      
        	 	
                (iv)
                  

              	
                Third
                  Party Beneficiary. Depositor shall be an express third party beneficiary
                  of this Agreement as if a party hereto to the extent of Depositor’s rights
                  explicitly specified herein.

              

      

       

      
        	
                (k)

              	
                FDIC
                  Requirements.
                  In
                  the case of Party A, it is a bank subject to the requirements of
                  12 U.S.C.
                  § 1823(e), its execution, delivery and performance of this Agreement
                  (including the Credit Support Annex and each Confirmation) have
                  been
                  approved by its board of directors or its loan committee, such
                  approval is
                  reflected in the minutes of said board of directors or loan committee,
                  and
                  this Agreement (including the Credit Support Annex and each Confirmation)
                  will be maintained as one of its official records continuously
                  from the
                  time of its execution (or in the case of any Confirmation, continuously
                  until such time as the relevant Transaction matures and the obligations
                  therefor are satisfied in full). 

              

      

       

      
        	
                (l)

              	
                Severability.
                  If any term, provision, covenant, or condition of this Agreement,
                  or the
                  application thereof to any party or circumstance, shall be held
                  to be
                  invalid or unenforceable (in whole or in part) for any reason,
                  the
                  remaining terms, provisions, covenants, and conditions hereof shall
                  continue in full force and effect as if this Agreement had been
                  executed
                  with the invalid or unenforceable portion eliminated, so long as
                  this
                  Agreement as so modified continues to express, without material
                  change,
                  the original intentions of the parties as to the subject matter
                  of this
                  Agreement and the deletion of such portion of this Agreement will
                  not
                  substantially impair the respective benefits or expectations of
                  the
                  parties; provided,
                  however,
                  that this severability provision shall not be applicable if any
                  provision
                  of Section 2, 5, 6, or 13 (or any definition or provision in Section
                  14 to
                  the extent it relates to, or is used in or in connection with any
                  such
                  Section) shall be so held to be invalid or unenforceable. The parties
                  shall endeavor to engage in good faith negotiations to replace
                  any invalid
                  or unenforceable term, provision, covenant or condition with a
                  valid or
                  enforceable term, provision, covenant or condition, the economic
                  effect of
                  which comes as close as possible to that of the invalid or unenforceable
                  term, provision, covenant or
                  condition.

              

      

       

      
        	
                (m)

              	
                No
                  Bankruptcy Petition.
                  Party A agrees that, prior to the date which is at least one year
                  and one
                  day (or, if longer, the applicable preference period then in effect)
                  after
                  all the Certificates have been paid in full, it will not institute
                  against, or join any other person or entity in instituting against,
                  Party
                  B any bankruptcy, reorganization, arrangement, insolvency, moratorium
                  or
                  liquidation proceedings, or other proceedings under federal or
                  State
                  bankruptcy or similar laws of any jurisdiction, provided
                  that nothing herein shall preclude, or be deemed to estop, Party
                  A from
                  taking any action in any case or proceeding voluntarily filed or
                  commenced
                  by or on behalf of Party B by
                  a party other than Party A
                  or
                  in any involuntary case or proceeding after it has commenced. The
                  provisions of this Part 6(m) shall survive the termination of this
                  Agreement.

              

      

       

      Part
        7. Definitions:

       

      All
        capitalized terms used herein and not defined, shall have the definition
        ascribed to them in the Pooling and Servicing Agreement.

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      IN
        WITNESS WHEREOF,
        the
        parties have executed this Schedule by their duly authorized signatories
        as of
        the date hereof. 

       

      WACHOVIA
        BANK, NATIONAL ASSOCIATION

       

       

      
        	
                By:

              	
                __________________________________

              

      

      Name:

      Title:

       

      LaSalle
        Bank National Association, not individually, but solely as Supplemental Interest
        Trust Trustee on behalf of the Supplemental Interest Trust with respect to
        Bear
        Stearns Asset-Backed Securities I Trust 2006-HE5, Asset-Backed
        Certificates, Series 2006-HE5

       

      By: __________________________________

      Name:

      Title:

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      [Wachovia
        logo]

       

      Swap
        Transaction Confirmation

       

        
          

        

      

       

      

        
          	
                  Date:

                	
                  May
                    30, 2006

                
	
                  To:

                	
                  LaSalle
                    Bank National Association, not individually, but solely as Supplemental
                    Interest Trust Trustee on behalf of the Supplemental Interest
                    Trust with
                    respect to Bear Stearns Asset Backed Securities I Trust 2006-HE5
                    (“Counterparty”)

                
	
                  Address:

                	
                  LaSalle
                    Bank, NA 135 South LaSalle Street, Suite 1625 

                
	 	
                  Chicago,
                    IL

                
	
                   

                	
                  60603
                    UNITED STATES

                
	
                  Fax:

                	
                  312-904-6257

                
	
                  Attention:

                	
                  Global
                    Securities and Trust Services Group

                
	
                  From:

                	
                  Wachovia
                    Bank, N.A. (“Wachovia”)

                
	
                  Ref.
                    No.

                	
                  1453135

                

        

      

       

       

      Dear
        Global Securities and Trust Services Group:

       

      This
        confirms the terms of the Transaction described below between Counterparty
        and
        Wachovia. The definitions and provisions contained in the 2000 ISDA Definitions,
        as published by the International Swaps and Derivatives Association, Inc.,
        are
        incorporated into this Confirmation. In the event of any inconsistency between
        those definitions and provisions and this Confirmation, this Confirmation
        will
        govern. Terms capitalized but not defined herein or in the Definitions shall
        have the respective meanings attributed to them in the Pooling and Servicing
        Agreement (the “Pooling and Servicing Agreement”), dated as of May 1, 2006,
        among Bear Stearns Asset Backed Securities I LLC (Depositor), EMC Mortgage
        Corporation (as Sponsor and Master Servicer) and LaSalle Bank National
        Association (Trustee). Fixed Amounts and Floating Amounts for each applicable
        Payment Date hereunder will be calculated in accordance with the ISDA
        Definitions, and if any Fixed Amount and Floating Amount are due for the
        same
        Payment Date hereunder, then those amounts shall not be payable and instead
        the
        Fixed Rate Payer shall pay the positive difference, if any, between the Fixed
        Amount and the Floating Amount, and the Floating Rate Payer shall pay the
        positive difference, if any, between the Floating Amount and the Fixed
        Amount.

       

      

        
          	
                  1.    The
                    terms of the particular Transaction to which the Confirmation
                    relates are
                    as follows:

                
	 
	
                  Transaction
                    Type:

                	
                  Interest
                    Rate Swap

                
	
                  Currency
                    for Payments:

                	
                  U.S.
                    Dollars

                
	
                  Term:

                	 
	 	 
	
                  Trade
                    Date:

                	
                  May
                    30, 2006

                
	
                  Effective
                    Date: 

                	
                  May
                    30, 2006. The Effective Date is the first day of the first Calculation
                    Period. However, the rights and obligations of both parties under
                    this
                    Transaction are in effect as of the Trade Date.

                
	
                  Termination
                    Date:

                	
                  May
                    25, 2011 in respect of Fixed Amounts 

                
	
                   

                	
                  May
                    25, 2011 in respect of Floating Amounts, subject to the Following
                    Business
                    Day Convention.

                
	
                  Fixed
                    Amounts:

                	 
	 	 
	
                  Fixed
                    Rate Payer: 

                	
                  Counterparty

                
	
                  Notional
                    Amount: 

                	
                  For
                    a Calculation Period, the amount set forth opposite that Calculation
                    Period on Attachment I hereto 

                
	
                  Period
                    End Dates:

                	
                  Monthly
                    on the 25th of each month, commencing June 25, 2006, through
                    and including
                    the Termination Date; No Adjustment.

                
	
                  Payment
                    Dates: 

                	
                  Monthly
                    on the 1st Business Day prior to the Period End Dates commencing
                    June 23,
                    2006 through and including May 24, 2011. Notwithstanding the
                    provisions of
                    Section 4.9(a) of the 2000 ISDA Definitions, the Termination
                    Date shall
                    not be a Payment Date hereunder. The final Payment Date shall
                    be May 24,
                    2011

                
	
                  Business
                    Day Convention: 

                	
                  Following

                
	
                  Business
                    Day: 

                	
                  New
                    York and Illinois

                
	
                  Fixed
                    Rate: 

                	
                  5.3573%

                
	
                  Fixed
                    Rate Day Count 

                	 
	
                  Fraction:
                    

                	
                  30/360

                
	
                  Fixed
                    Amount:

                	
                  Notwithstanding
                    the provisions of Section 5.1(b) of the 2000 ISDA Definitions,
                    the Fixed
                    Amount shall be equal to the product of 100 * the Notional Amount
                    * the
                    Fixed Rate * the Fixed Rate Day Count Fraction.

                
	 	 
	
                  Floating
                    Amounts:

                	 
	 	 
	
                  Floating
                    Rate Payer: 

                	
                  Wachovia

                
	
                  Notional
                    Amount: 

                	
                  For
                    a Calculation Period, the amount set forth opposite that Calculation
                    Period on Attachment I hereto

                
	
                  Period
                    End Dates: 

                	
                  Monthly
                    on the 25th of each month, commencing June 26, 2006, through
                    and including
                    the Termination Date, subject to adjustment in accordance with
                    the
                    Following Business Day Convention.

                
	
                  Payment
                    Dates: 

                	
                  Monthly
                    on the 1st Business Day prior to the Period End Dates commencing
                    June 23,
                    2006 through and including May 24, 2011. Notwithstanding the
                    provisions of
                    Section 4.9(a) of the 2000 ISDA Definitions, the Termination
                    Date shall
                    not be a Payment Date hereunder. The final Payment Date shall
                    be May 24,
                    2011

                
	
                  Business
                    Day Convention: 

                	
                  Following

                
	
                  Business
                    Day: 

                	
                  New
                    York and Illinois

                
	
                  Floating
                    Rate Option: 

                	
                  USD-LIBOR-BBA

                
	
                  Designated
                    Maturity: 

                	
                  1
                    Month

                
	
                  Spread:
                    

                	
                  None

                
	
                  Floating
                    Rate Day Count

                	 
	
                  Fraction:
                    

                	
                  Actual/360

                
	
                  Floating
                    Rate determined: 

                	
                  Two
                    London Banking Days prior to each Reset Date.

                
	
                  Reset
                    Dates: 

                	
                  The
                    first day of each Calculation Period.

                
	
                  Compounding:
                    

                	
                  Inapplicable

                
	
                  Rounding
                    convention: 

                	
                  5
                    decimal places per the ISDA Definitions.

                
	
                  Floating
                    Amounts: 

                	
                  Notwithstanding
                    the provisions of Section 6.1(a) of the 2000 ISDA Definitions,
                    the
                    Floating Amount shall be equal to the product of 100 * the Notional
                    Amount
                    * the Floating Rate * the Floating Rate Day Count
                    Fraction.

                
	 	 
	
                  2.

                	
                  The
                    additional provisions of this Confirmation are as
                    follows:

                
	 	 
	
                  Calculation
                    Agent:

                	
                  Wachovia

                
	
                  Payment
                    Instructions:

                	
                  Wachovia
                    Bank, N.A.

                
	
                   

                	
                  CIB
                    Group, ABA 053000219

                
	
                   

                	
                  Ref:
                    Derivative Desk (Trade No: 1453135)

                
	
                   

                	
                  Account
                    #: 04659360006116

                
	 	 
	
                  Wachovia
                    Contacts:

                	
                  Settlements
                    and/or Rate Resets:

                
	
                   

                	
                  Tel:
                    (800) 249-3865

                
	
                   

                	
                  Fax:
                    (704) 383-9139

                
	 	 
	
                   

                	
                  Documentation
                    :

                
	
                   

                	
                  Tel:
                    (704) 383-4599

                
	
                   

                	
                  Fax:
                    (704) 383-9139

                
	 	 
	
                   

                	
                  Collateral
                    :

                
	
                   

                	
                  Tel:
                    (704) 383-9529

                
	 	 
	
                   

                	
                  Please
                    quote transaction reference number.

                
	 	 
	
                  Payments
                    to Counterparty:

                	
                  LaSalle
                    Bank, N.A.

                
	
                   

                	
                  ABA
                    071000505

                
	
                   

                	
                  LaSalle
                    CHGO/CTR/BNF:/LaSalle Trust

                
	
                   

                	
                  Account
                    #: 723733.2

                
	
                   

                	
                  Attn:
                    Carol Corradino-Tilton
                    X2-2745

                

        

      

       

      Documentation

       

      This
        Confirmation supplements, forms part of, and is subject to, the Master Agreement
        between Wachovia and Counterparty dated as of May 30, 2006, as amended and
        supplemented from time to time (the “ISDA Master Agreement”). All provisions
        contained or incorporated by reference in the Master Agreement will govern
        this
        Confirmation except as expressly modified herein. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Please
        confirm that the foregoing correctly sets forth the terms of our agreement
        by
        executing a copy of this Confirmation and returning it to us at fax number
        (704)
        383-9139.

       

      Very
        truly yours,

      Wachovia
        Bank, N.A.

       

      By:___________
        ____________

      Name:

      Title:

       

      SP__

      Ref.
        No.
        1453135

       

      

      Accepted
        and confirmed as of date first above written:

      LaSalle
        Bank National Association, not

      individually,
        but solely as Supplemental

      Interest
        Trust Trustee on behalf of the

      Supplemental
        Interest Trust with respect

      to
        Bear
        Stearns Asset Backed Securities I

      Trust
        2006-HE5

      

      By:___________
        ____________

      Name:

      Title:

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      ATTACHMENT
        I

      Amortization
        Schedule for 1453135

       

       

      
        	
                Calculation
                  Period

              	
                    USD
                  Notional Amount

              
	
                (all
                  such dates subject to No Adjustment with respect to

              	 
	
                Fixed
                  Payments and adjustment in accordance with the

              	 
	
                Business
                  Day Convention with respect to Floating Payments)

              	 

      

      

      
        	
                (from
                  and including, to but excluding)

              	 
	 	 	 	 
	
                30-May-06
                  

              	
                to
                  

              	
                25-Jun-06
                  

              	
                4,117,009.72

              
	
                25-Jun-06
                  

              	
                to
                  

              	
                25-Jul-06
                  

              	
                4,054,398.11

              
	
                25-Jul-06
                  

              	
                to
                  

              	
                25-Aug-06
                  

              	
                3,979,083.43

              
	
                25-Aug-06
                  

              	
                to
                  

              	
                25-Sep-06
                  

              	
                3,891,236.75

              
	
                25-Sep-06
                  

              	
                to
                  

              	
                25-Oct-06
                  

              	
                3,791,147.20

              
	
                25-Oct-06
                  

              	
                to
                  

              	
                25-Nov-06
                  

              	
                3,679,280.90

              
	
                25-Nov-06
                  

              	
                to
                  

              	
                25-Dec-06
                  

              	
                3,556,161.76

              
	
                25-Dec-06
                  

              	
                to
                  

              	
                25-Jan-07
                  

              	
                3,422,783.40

              
	
                25-Jan-07
                  

              	
                to
                  

              	
                25-Feb-07
                  

              	
                3,282,488.39

              
	
                25-Feb-07
                  

              	
                to
                  

              	
                25-Mar-07
                  

              	
                3,136,811.54

              
	
                25-Mar-07
                  

              	
                to
                  

              	
                25-Apr-07
                  

              	
                2,995,891.88

              
	
                25-Apr-07
                  

              	
                to
                  

              	
                25-May-07
                  

              	
                2,861,303.65

              
	
                25-May-07
                  

              	
                to
                  

              	
                25-Jun-07
                  

              	
                2,732,845.93

              
	
                25-Jun-07
                  

              	
                to
                  

              	
                25-Jul-07
                  

              	
                2,610,236.70

              
	
                25-Jul-07
                  

              	
                to
                  

              	
                25-Aug-07
                  

              	
                2,493,207.00

              
	
                25-Aug-07
                  

              	
                to
                  

              	
                25-Sep-07
                  

              	
                2,381,500.36

              
	
                25-Sep-07
                  

              	
                to
                  

              	
                25-Oct-07
                  

              	
                2,274,872.13

              
	
                25-Oct-07
                  

              	
                to
                  

              	
                25-Nov-07
                  

              	
                2,173,090.86

              
	
                25-Nov-07
                  

              	
                to
                  

              	
                25-Dec-07
                  

              	
                2,075,932.04

              
	
                25-Dec-07
                  

              	
                to
                  

              	
                25-Jan-08
                  

              	
                1,983,183.47

              
	
                25-Jan-08
                  

              	
                to
                  

              	
                25-Feb-08
                  

              	
                1,894,640.74

              
	
                25-Feb-08
                  

              	
                to
                  

              	
                25-Mar-08
                  

              	
                1,810,105.20

              
	
                25-Mar-08
                  

              	
                to
                  

              	
                25-Apr-08
                  

              	
                1,729,587.78

              
	
                25-Apr-08
                  

              	
                to
                  

              	
                25-May-08
                  

              	
                1,652,730.17

              
	
                25-May-08
                  

              	
                to
                  

              	
                25-Jun-08
                  

              	
                1,579,343.44

              
	
                25-Jun-08
                  

              	
                to
                  

              	
                25-Jul-08
                  

              	
                1,509,268.98

              
	
                25-Jul-08
                  

              	
                to
                  

              	
                25-Aug-08
                  

              	
                1,442,355.76

              
	
                25-Aug-08
                  

              	
                to
                  

              	
                25-Sep-08
                  

              	
                1,378,460.64

              
	
                25-Sep-08
                  

              	
                to
                  

              	
                25-Oct-08
                  

              	
                1,317,455.11

              
	
                25-Oct-08
                  

              	
                to
                  

              	
                25-Nov-08
                  

              	
                1,259,198.39

              
	
                25-Nov-08
                  

              	
                to
                  

              	
                25-Dec-08
                  

              	
                1,203,562.73

              
	
                25-Dec-08
                  

              	
                to
                  

              	
                25-Jan-09
                  

              	
                1,150,428.08

              
	
                25-Jan-09
                  

              	
                to
                  

              	
                25-Feb-09
                  

              	
                1,099,681.71

              
	
                25-Feb-09
                  

              	
                to
                  

              	
                25-Mar-09
                  

              	
                1,051,215.70

              
	
                25-Mar-09
                  

              	
                to
                  

              	
                25-Apr-09
                  

              	
                1,004,942.47

              
	
                25-Apr-09
                  

              	
                to
                  

              	
                25-May-09
                  

              	
                960,744.04

              
	
                25-May-09
                  

              	
                to
                  

              	
                25-Jun-09
                  

              	
                918,525.85

              
	
                25-Jun-09
                  

              	
                to
                  

              	
                25-Jul-09
                  

              	
                878,198.02

              
	
                25-Jul-09
                  

              	
                to
                  

              	
                25-Aug-09
                  

              	
                839,674.70

              
	
                25-Aug-09
                  

              	
                to
                  

              	
                25-Sep-09
                  

              	
                802,873.98

              
	
                25-Sep-09
                  

              	
                to
                  

              	
                25-Oct-09
                  

              	
                767,721.38

              
	
                25-Oct-09
                  

              	
                to
                  

              	
                25-Nov-09
                  

              	
                734,138.55

              
	
                25-Nov-09
                  

              	
                to
                  

              	
                25-Dec-09
                  

              	
                702,054.05

              
	
                25-Dec-09
                  

              	
                to
                  

              	
                25-Jan-10
                  

              	
                671,400.03

              
	
                25-Jan-10
                  

              	
                to
                  

              	
                25-Feb-10
                  

              	
                642,111.78

              
	
                25-Feb-10
                  

              	
                to
                  

              	
                25-Mar-10
                  

              	
                614,127.45

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      ATTACHMENT
        I

      Amortization
        Schedule for 1453135

       

      
        

        
          	
                  
                    Calculation
                      Period

                  

                	
                  USD
                    Notional Amount

                

        

      

      
        	
                (all
                  such dates subject to No Adjustment with respect to

              	 
	
                Fixed
                  Payments and adjustment in accordance with the

              	 
	
                Business
                  Day Convention with respect to Floating Payments)

              	 

      

      

      
        	
                (from
                  and including, to but excluding)

              	 
	 	 	 	 
	
                25-Mar-10
                  

              	
                to
                  

              	
                25-Apr-10
                  

              	
                587,388.23

              
	
                25-Apr-10
                  

              	
                to
                  

              	
                25-May-10
                  

              	
                561,837.69

              
	
                25-May-10
                  

              	
                to
                  

              	
                25-Jun-10
                  

              	
                128,279.66

              
	
                25-Jun-10
                  

              	
                to
                  

              	
                25-Jul-10
                  

              	
                124,238.55

              
	
                25-Jul-10
                  

              	
                to
                  

              	
                25-Aug-10
                  

              	
                120,324.02

              
	
                25-Aug-10
                  

              	
                to
                  

              	
                25-Sep-10
                  

              	
                116,532.12

              
	
                25-Sep-10
                  

              	
                to
                  

              	
                25-Oct-10
                  

              	
                112,859.02

              
	
                25-Oct-10
                  

              	
                to
                  

              	
                25-Nov-10
                  

              	
                109,301.01

              
	
                25-Nov-10
                  

              	
                to
                  

              	
                25-Dec-10
                  

              	
                105,854.52

              
	
                25-Dec-10
                  

              	
                to
                  

              	
                25-Jan-11
                  

              	
                102,484.34

              
	
                25-Jan-11
                  

              	
                to
                  

              	
                25-Feb-11
                  

              	
                99,219.33

              
	
                25-Feb-11
                  

              	
                to
                  

              	
                25-Mar-11
                  

              	
                96,057.48

              
	
                25-Mar-11
                  

              	
                to
                  

              	
                25-Apr-11
                  

              	
                92,995.35

              
	
                25-Apr-11
                  

              	
                to
                  

              	
                25-May-11
                  

              	
                90,030.01

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        N

       

      [Reserved]

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        O

       

      [Reserved]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        P

       

      SERVICING
        CRITERIA TO BE ADDRESSED

      IN
        ASSESSMENT OF COMPLIANCE

      

      Definitions

      Master
        Servicer - aggregator of pool assets

      Custodian
        - safe keeper of pool assets

      Trustee
        -
        fiduciary of the transaction, waterfall calculator, paying agent

      

      Where
        there are multiple checks for criteria the attesting party will identify
        in
        their management assertion that they are attesting only to the portion of
        the
        distribution chain they are responsible for in the related transaction
        agreements.

      

      Key: X
        - obligation

      

      
        	
                Reg
                  AB Reference

              	
                Servicing
                  Criteria

              	
                Master
                  Servicer

              	
                Trustee

              	
                Custodian

              
	 	
                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

              	
                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.

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	 	
                Cash
                  Collection and Administration

              	 	 	 
	
                1122(d)(2)(i)

              	
                Payments
                  on pool assets are deposited into the appropriate custodial bank
                  accounts
                  and related bank clearing accounts no more than two business days
                  following receipt and identification, or such other number of days
                  specified in the transaction agreements. 

              	
                X

              	
                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

              	
                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.
                  

              	
                X

              	
                X

              	 
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of over collateralization, are separately
                      maintained (e.g., with respect to commingling of cash) as set
                  forth in the
                  transaction agreements. 

              	
                X

              	
                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

              	
                X

              	 
	
                1122(d)(2)(vi)

              	
                Unissued
                  checks are safeguarded so as to prevent unauthorized access.
                  

              	
                X

              	 	 
	
                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 45 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

              	
                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 Pool Assets serviced by the Servicer.
                  

              	
                X

              	
                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

              	
                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

              	
                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

              	
                X

              	 
	 	
                Pool
                  Asset Administration

              	 	 	 
	
                1122(d)(4)(i)
                  

              	
                Collateral
                  or security on pool assets is maintained as required by the transaction
                  agreements or related pool asset documents. 

              	 	 	
                X

              
	
                1122(d)(4)(ii)

              	
                Pool
                  assets and related documents are safeguarded as required by the
                  transaction agreements 

              	 	 	
                X

              
	
                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. 

              	
                X

              	
                X

              	
                X* 

              
	
                1122(d)(4)(iv)

              	
                Payments
                  on pool assets, including any payoffs, made in accordance with
                  the related
                  pool asset 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 pool asset documents. 

              	
                X

              	 	 
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the pool assets agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal balance.
                  

              	
                X

              	 	 
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's pool assets
                  (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. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a pool
                  asset 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 pool assets including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or unemployment).
                  

              	
                X

              	 	 
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for pool assets with variable
                  rates
                  are computed based on the related pool asset documents. 

              	
                X

              	 	 
	
                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 pool asset 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 pool asset documents
                  and state
                  laws; and (C) such funds are returned to the obligor within 30
                  calendar
                  days of full repayment of the related pool assets, or such other
                  number of
                  days specified in the transaction agreements. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                1122(d)(4)(xiv)
                  

              	
                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements. 

              	
                X

              	 	 
	
                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

              	 

      

      

      

        

      

      
        
          *
            Only
            with respect to the logistics of adding, removing and substituting loan
            files.

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        Q

       

      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 party identified
        as responsible for preparing the Securities Exchange Act Reports pursuant
        to
        Section 3.16 of the Pooling and Servicing Agreement. The
        trustee in this transaction is responsible for all of the securities
        administrator functions.

      

      Under
        Item 1 of Form 10-D: a) items marked “monthly statements to certificateholders”
are required to be included in the periodic Distribution Date statement under
        Section 5.06 of the Pooling and Servicing Agreement, provided by the Trustee
        based on information received from the party providing such information;
        and b)
        items marked “Form 10-D report” are required to be in the Form 10-D report but
        not the monthly statements to certificateholders, provided by the party
        indicated. Information under all other Items of Form 10-D is to be included
        in
        the Form 10-D report. All such information and any other Items of Form 8-K
        and
        Form 10-K set forth in this exhibit shall be sent to the Trustee and the
        Depositor. 

      

      
        	
                Form

              	
                Item

              	
                Description

              	
                Master
                  Servicer

              	
                Trustee

              	
                Custodian

              	
                Depositor

              	
                Sponsor

              
	
                10-D

              	
                Must
                  be filed within 15 days of the distribution date for the asset-backed
                  securities.

              	 	 
	 	
                1

              	
                Distribution
                  and Pool Performance Information

              	 	 	 	 	 
	
                Item
                  1121(a) - Distribution and Pool Performance
                  Information

              	 	 	 	 	 
	
                (1)
                  Any applicable record dates, accrual dates, determination dates
                  for
                  calculating distributions and actual distribution dates for the
                  distribution period.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (2)
                  Cash flows received and the sources thereof for distributions,
                  fees and
                  expenses.

              	 	
                X

                 

                (monthly
                  statementst o certificateholders)

              	 	 	 
	
                (3)
                  Calculated amounts and distribution of the flow of funds for the
                  period
                  itemized by type and priority of payment, including:

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (i)
                  Fees or expenses accrued and paid, with an identification of the
                  general
                  purpose of such fees and the party receiving such fees or
                  expenses.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (ii)
                  Payments accrued or paid with respect to enhancement or other support
                  identified in Item 1114 of Regulation AB (such as insurance premiums
                  or
                  other enhancement maintenance fees), with an identification of
                  the general
                  purpose of such payments and the party receiving such
                  payments.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (iii)
                  Principal, interest and other distributions accrued and paid on
                  the
                  asset-backed securities by type and by class or series and any
                  principal
                  or interest shortfalls or carryovers.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (iv)
                  The amount of excess cash flow or excess spread and the disposition
                  of
                  excess cash flow.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (4)
                  Beginning and ending principal balances of the asset-backed
                  securities.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (5)
                  Interest rates applicable to the pool assets and the asset-backed
                  securities, as applicable. Consider providing interest rate information
                  for pool assets in appropriate distributional groups or incremental
                  ranges.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (6)
                  Beginning and ending balances of transaction accounts, such as
                  reserve
                  accounts, and material account activity during the period.

              	 	
                X

                 

                (monthly
                  statements to certificateholders) (only with respect to the reserve
                  accounts)

              	 	 	 
	
                (7)
                  Any amounts drawn on any credit enhancement or other support identified
                  in
                  Item 1114 of Regulation AB, as applicable, and the amount of coverage
                  remaining under any such enhancement, if known and
                  applicable.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (8)
                  Number and amount of pool assets at the beginning and ending of
                  each
                  period, and updated pool composition information, such as weighted
                  average
                  coupon, weighted average remaining term, pool factors and prepayment
                  amounts.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	
                Updated
                  pool composition information fields to be as specified by Depositor
                  from
                  time to time

              	 
	
                (9)
                  Delinquency and loss information for the period.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                In
                  addition, describe any material changes to the information specified
                  in
                  Item 1100(b)(5) of Regulation AB regarding the pool assets.
                  (methodology)

              	
                X

              	 	 	 	 
	
                (10)
                  Information on the amount, terms and general purpose of any advances
                  made
                  or reimbursed during the period, including the general use of funds
                  advanced and the general source of funds for
                  reimbursements.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (11)
                  Any material modifications, extensions or waivers to pool asset
                  terms,
                  fees, penalties or payments during the distribution period or that
                  have
                  cumulatively become material over time.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (12)
                  Material breaches of pool asset representations or warranties or
                  transaction covenants.

              	
                X

              	
                X

                 

                (if
                  agreed upon by the parties)

              	 	
                X

              	 
	
                (13)
                  Information on ratio, coverage or other tests used for determining
                  any
                  early amortization, liquidation or other performance trigger and
                  whether
                  the trigger was met.

              	 	
                X

                 

                (monthly
                  statements to certificateholders)

              	 	 	 
	
                (14)
                  Information regarding any new issuance of asset-backed securities
                  backed
                  by the same asset pool, 

              	 	 	 	
                X

              	 
	
                information
                  regarding any pool asset changes (other than in connection with
                  a pool
                  asset converting into cash in accordance with its terms), such
                  as
                  additions or removals in connection with a prefunding or revolving
                  period
                  and pool asset substitutions and repurchases (and purchase rates,
                  if
                  applicable), and cash flows available for future purchases, such
                  as the
                  balances of any prefunding or revolving accounts, if
                  applicable.

              	
                X

              	
                X

              	 	
                X

              	 
	
                Disclose
                  any material changes in the solicitation, credit-granting, underwriting,
                  origination, acquisition or pool selection criteria or procedures,
                  as
                  applicable, used to originate, acquire or select the new pool
                  assets.

              	 	 	 	
                X

              	
                X

              
	
                Item
                  1121(b) - Pre-Funding or Revolving Period Information

                 

                Updated
                  pool information as required under Item 1121(b).

              	 	 	 	
                X

              	 
	
                2

              	
                Legal
                  Proceedings

              	 	 	 	 	 
	
                Item
                  1117 - Legal proceedings pending against the following entities,
                  or their
                  respective property, that is material to Certificateholders, including
                  proceedings known to be contemplated by governmental
                  authorities:

              	 	 	 	 	 
	
                Sponsor
                  (Seller)

              	 	 	 	 	
                X

              
	
                Depositor

              	 	 	 	
                X

              	 
	
                Trustee

              	 	
                X

              	 	 	 
	
                Issuing
                  entity

              	 	 	 	
                X

              	 
	
                Master
                  Servicer, affiliated Servicer, other Servicer servicing 20% or
                  more of
                  pool assets at time of report, other material servicers

              	
                X

              	 	 	 	 
	
                Originator
                  of 20% or more of pool assets as of the Cut-off Date

              	 	 	 	
                X

              	 
	
                Custodian

              	 	 	
                X

              	 	 
	 	
                3

              	
                Sales
                  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.

              	 	 	 	
                X

              	 
	
                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)

              	 	
                X

              	 	 	 
	
                5

              	
                Submission
                  of Matters to a Vote of Certificateholders

              	 	 	 	 	 
	
                Information
                  from Item 4 of Part II of Form 10-Q

              	 	
                X

              	 	 	 
	
                6

              	
                Significant
                  Obligors of Pool Assets

              	 	 	 	 	 
	
                Item
                  1112(b) - Significant
                  Obligor Financial Information*

              	 	 	 	
                X

              	 
	
                *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.

              	 	 	 	 	 
	
                7

              	
                Significant
                  Enhancement Provider Information

              	 	 	 	 	 
	
                Item
                  1114(b)(2) - Credit Enhancement Provider Financial
                  Information*

              	 	 	 	 	 
	
                Determining
                  applicable disclosure threshold

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

              	 	 	 
	
                Item
                  1115(b) - Derivative Counterparty Financial
                  Information*

              	 	 	 	 	 
	
                Determining
                  current maximum probable exposure

              	 	 	 	
                X

              	 
	
                Determining
                  current significance percentage

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

              	 	 	 
	
                *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.

              	 	 	 	 	 
	
                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

              	
                The
                  Responsible Party for the applicable Form 8-K item as indicated
                  below.

              
	 	
                9

              	
                Exhibits

              	 	 	 	 	 
	
                Distribution
                  report

              	 	
                X

              	 	 	 
	
                Exhibits
                  required by Item 601 of Regulation S-K, such as material
                  agreements

              	 	 	 	
                X

              	 
	
                8-K

              	
                Must
                  be filed within four business days of an event reportable on Form
                  8-K.

              	 	 
	 	
                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

              	
                X

              	
                X 

              	 	
                X 

              	
                X 

              
	
                1.02

              	
                Termination
                  of a Material Definitive Agreement

              	
                X

              	
                X 

              	 	
                X 

              	
                X 

              
	
                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.

              	
                X

              	
                X

              	
                X

              	
                X

              	
                X

              
	
                1.03

              	
                Bankruptcy
                  or Receivership

              	 	 	 	 	 
	
                Disclosure
                  is required regarding the bankruptcy or receivership, if known
                  to the
                  Master Servicer, with respect to any of the following: 

                 

                Sponsor
                  (Seller), Depositor, Master Servicer, affiliated Servicer, other
                  Servicer
                  servicing 20% or more of pool assets at time of report, other material
                  servicers, Trustee, significant obligor, credit enhancer (10% or
                  more),
                  derivatives counterparty, Custodian

              	
                X

              	
                X 

              	
                X

              	
                X 

              	
                X 

              
	
                2.04

              	
                Triggering
                  Events that Accelerate or Increase a Direct Financial Obligation
                  or an
                  Obligation under an Off-Balance Sheet Arrangement [in
                  this transaction there is no 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 certificateholders [in this transaction
                  there
                  will be no events other than waterfall triggers]

              	 	
                X

              	 	 	 
	
                3.03

              	
                Material
                  Modification to Rights of Certificateholders

              	 	 	 	 	 
	
                Disclosure
                  is required of any material modification to documents defining
                  the rights
                  of Certificateholders, including the Pooling and Servicing
                  Agreement

              	 	
                X

              	 	 	 
	
                5.03

              	
                Amendments
                  to Articles of Incorporation or Bylaws; Change in Fiscal
                  Year

              	 	 	 	 	 
	
                Disclosure
                  is required of any amendment “to the governing documents of the issuing
                  entity”

              	 	 	 	
                X

              	 
	
                5.06

              	
                Change
                  in Shell Company Status

              	 	 	 	 	 
	
                [Not
                  applicable to ABS issuers]

              	 	 	 	
                X

              	 
	
                6.01

              	
                ABS
                  Informational and Computational Material

              	 	 	 	 	 
	
                [Not
                  included in reports to be filed under Section 3.16]

              	 	 	 	
                X

              	 
	
                6.02

              	
                Change
                  of Servicer or Trustee

              	 	 	 	 	 
	
                Requires
                  disclosure of any removal, replacement, substitution or addition
                  of any
                  master servicer, affiliated servicer, other servicer servicing
                  10% or more
                  of pool assets at time of report, other material servicers or trustee.
                  

              	
                X

              	
                X

              	 	
                X

              	 
	
                Reg
                  AB disclosure about any new master servicer is also
                  required.

              	
                X

              	 	 	 	 
	
                Reg
                  AB disclosure about any new trustee is also required.

              	 	
                X

              	 	 	 
	
                6.03

              	
                Change
                  in Credit Enhancement or Other 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.
                  

              	 	
                X

              	 	
                X

              	 
	
                Reg
                  AB disclosure about any new enhancement provider is also
                  required.

              	 	
                X

              	 	
                X

              	 
	
                6.04

              	
                Failure
                  to Make a Required Distribution

              	 	
                X

              	 	 	 
	
                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.

              	 	 	 	
                X

              	
                 

              
	
                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.

              	 	 	 	
                X

              	 
	
                7.01

              	
                Regulation
                  FD Disclosure

              	
                X

              	
                X

              	
                X

              	
                X

              	 
	
                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.

              	 	 	 	
                X

              	 
	 	
                9.01

              	
                Financial
                  Statements and Exhibits

              	
                The
                  Responsible Party applicable to reportable event.

              
	
                10-K

              	 	
                Must
                  be filed within 90 days of the fiscal year end for the
                  registrant.

              	 	 
	 	
                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

              	
                The
                  Responsible Party for the applicable Form 8-K as indicated
                  above.

              
	 	
                15

              	
                Exhibits
                  and Financial Statement Schedules

              	 	 	 	 	 
	
                Item
                  1112(b) - Significant
                  Obligor Financial Information

              	 	 	 	
                X

              	 
	
                Item
                  1114(b)(2) - Credit Enhancement Provider Financial
                  Information

              	 	 	 	 	 
	
                Determining
                  applicable disclosure threshold

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

              	 	 	 
	
                Item
                  1115(b) - Derivative Counterparty Financial
                  Information

              	 	 	 	 	 
	
                Determining
                  current maximum probable exposure

              	 	 	 	
                X

              	 
	 	 	
                Determining
                  current significance percentage

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

              	 	 	 
	
                Item
                  1117 - Legal proceedings pending against the following entities,
                  or their
                  respective property, that is material to Certificateholders, including
                  proceedings known to be contemplated by governmental
                  authorities:

              	 	 	 	 	 
	
                Sponsor
                  (Seller)

              	 	 	 	 	
                X

              
	
                Depositor

              	 	 	 	
                X

              	 
	
                Trustee

              	 	
                X

              	 	 	 
	
                Issuing
                  entity

              	 	 	 	
                X

              	 
	
                Master
                  Servicer, affiliated Servicer, other Servicer servicing 20% or
                  more of
                  pool assets at time of report, other material servicers

              	
                X

              	 	 	 	 
	
                Originator
                  of 20% or more of pool assets as of the Cut-off Date

              	 	 	 	
                X

              	 
	
                Custodian

              	 	 	
                X

              	 	 
	
                Item
                  1119 - Affiliations and relationships between the following entities,
                  or
                  their respective affiliates, that are material to
                  Certificateholders:

              	 	 	 	 	 
	
                Sponsor
                  (Seller)

              	 	 	 	 	
                X

              
	
                Depositor

              	 	 	 	
                X

              	 
	
                Trustee

              	 	
                X

              	 	 	 
	
                Master
                  Servicer, affiliated Servicer, other Servicer servicing 20% or
                  more of
                  pool assets at time of report, other material servicers

              	
                X

              	 	 	 	 
	
                Originator

              	 	 	 	
                X

              	 
	
                Custodian

              	 	 	
                X

              	 	 
	
                Credit
                  Enhancer/Support Provider

              	 	 	 	
                X

              	 
	
                Significant
                  Obligor

              	 	 	 	
                X

              	 
	
                Item
                  1122 - Assessment of Compliance with Servicing
                  Criteria

              	
                X

              	
                X

              	
                X

              	 	 
	
                Item
                  1123 - Servicer Compliance Statement

              	
                X

              	
                X

              	 	 	 

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        R

       

      ADDITIONAL
        DISCLOSURE NOTIFICATION

       

      Bear
        Stearns Asset Backed Securities I LLC

      383
        Madison Avenue

      New
        York,
        New York 10179

      Fax:
        (212) 272-2000

      E-mail:
        regabnotifications@bear.com

      

      LaSalle
        Bank National Association as Trustee 

      135
        S.
        LaSalle St., Suite 1625

      Chicago,
        Illinois 60603

      Fax:
        (312) 904-1368

      E-mail:
        edgar@abnamro.com

      Attn:
        Global Securities and Trust Services Group - BEAR STEARNS ASSET BACKED
        SECURITIES I TRUST 2006-HE5-SEC REPORT PROCESSING

       

      RE:
        **Additional Form [ ] Disclosure**Required

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 3.16(a)(v) of the Pooling and Servicing Agreement,
        dated
        as of May 1, 2006, among Bear Stearns Asset Backed Securities I LLC, as
        depositor, EMC Mortgage Corporation, as seller and as master servicer, and
        LaSalle Bank National Association, as trustee. The Undersigned, as [Name
        of
        Party], 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:Unassociated Document

    EXHIBIT
      4.1

     

    
      

      

    

    

     

    CWABS,
      INC.,

    Depositor

     

    COUNTRYWIDE
      HOME LOANS, INC.,

    Seller

     

    PARK
      MONACO INC.,

    Seller

     

    PARK
      SIENNA LLC,

    Seller

     

    PARK
      GRANADA LLC,

    Seller

     

    COUNTRYWIDE
      HOME LOANS SERVICING LP,

    Master
      Servicer

     

    and

     

    THE
      BANK
      OF NEW YORK,

    Trustee

     

    _____________________________________

     

    POOLING
      AND SERVICING AGREEMENT

     

    Dated
      as
      of May
      1,
      2006

    ______________________________________

     

     

    ASSET-BACKED
      CERTIFICATES, SERIES 2006-BC2

     

    

     

    
      
        
          

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    Table
      of Contents

     

    
      	
              ARTICLE
                I.

            
	
              DEFINITIONS

            
	 
	
              Section
                1.01

            	
              Defined
                Terms.

            
	
              Section
                1.02

            	
              Certain
                Interpretive Provisions.

            
	 	 
	
              ARTICLE
                II.

            
	
              CONVEYANCE
                OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES

            
	 
	
              Section
                2.01

            	
              Conveyance
                of Mortgage Loans.

            
	
              Section
                2.02

            	
              Acceptance
                by Trustee of the Mortgage Loans.

            
	
              Section
                2.03

            	
              Representations,
                Warranties and Covenants of the Master Servicer and the
                Sellers.

            
	
              Section
                2.04

            	
              Representations
                and Warranties of the Depositor.

            
	
              Section
                2.05

            	
              Delivery
                of Opinion of Counsel in Connection with Substitutions and
                Repurchases.

            
	
              Section
                2.06

            	
              Authentication
                and Delivery of Certificates.

            
	
              Section
                2.07

            	
              Covenants
                of the Master Servicer.

            
	 	 
	
              ARTICLE
                III.

            
	
              ADMINISTRATION
                AND SERVICING OF MORTGAGE LOANS

            
	 
	
              Section
                3.01

            	
              Master
                Servicer to Service Mortgage Loans.

            
	
              Section
                3.02

            	
              Subservicing;
                Enforcement of the Obligations of Master Servicer.

            
	
              Section
                3.03

            	
              Rights
                of the Depositor, the Sellers, the Certificateholders, the NIM Insurer
                and
                the Trustee in Respect of the Master Servicer.

            
	
              Section
                3.04

            	
              Trustee
                to Act as Master Servicer.

            
	
              Section
                3.05

            	
              Collection
                of Mortgage Loan Payments; Certificate Account; Distribution Account;
                Pre-Funding Account; Seller Shortfall Interest
                Requirement.

            
	
              Section
                3.06

            	
              Collection
                of Taxes, Assessments and Similar Items; Escrow
                Accounts.

            
	
              Section
                3.07

            	
              Access
                to Certain Documentation and Information Regarding the Mortgage
                Loans.

            
	
              Section
                3.08

            	
              Permitted
                Withdrawals from the Certificate Account, Distribution Account, Carryover
                Reserve Fund and the Principal Reserve Fund.

            
	
              Section
                3.09

            	
              [Reserved].

            
	
              Section
                3.10

            	
              Maintenance
                of Hazard Insurance.

            
	
              Section
                3.11

            	
              Enforcement
                of Due-On-Sale Clauses; Assumption Agreements.

            
	
              Section
                3.12

            	
              Realization
                Upon Defaulted Mortgage Loans; Determination of Excess Proceeds and
                Realized Losses; Repurchase of Certain Mortgage Loans.

            
	
              Section
                3.13

            	
              Trustee
                to Cooperate; Release of Mortgage Files.

            
	
              Section
                3.14

            	
              Documents,
                Records and Funds in Possession of Master Servicer to be Held for
                the
                Trustee.

            
	
              Section
                3.15

            	
              Servicing
                Compensation.

            
	
              Section
                3.16

            	
              Access
                to Certain Documentation.

            
	
              Section
                3.17

            	
              Annual
                Statement as to Compliance.

            
	
              Section
                3.18

            	
              [Reserved].

            
	
              Section
                3.19

            	
              [Reserved].

            
	
              Section
                3.20

            	
              Prepayment
                Charges.

            
	
              Section
                3.21

            	
              Swap
                Contract.

            
	 	 
	
              ARTICLE
                IV.

            
	
              DISTRIBUTIONS
                AND ADVANCES BY THE MASTER SERVICER

            
	 
	
              Section
                4.01

            	
              Advances;
                Remittance Reports.

            
	
              Section
                4.02

            	
              Reduction
                of Servicing Compensation in Connection with Prepayment Interest
                Shortfalls.

            
	
              Section
                4.03

            	
              [Reserved].

            
	
              Section
                4.04

            	
              Distributions.

            
	
              Section
                4.05

            	
              Monthly
                Statements to Certificateholders.

            
	
              Section
                4.06

            	
              [Reserved].

            
	
              Section
                4.07

            	
              Carryover
                Reserve Fund.

            
	
              Section
                4.08

            	
              [reserved].

            
	
              Section
                4.09

            	
              Swap
                Trust and Swap Account.

            
	
              Section
                4.10

            	
              Distributions
                on REMIC 1 and REMIC 2 Regular Interests.

            
	
              Section
                4.11

            	
              Allocation
                of Realized Losses to REMIC 1 and REMIC 2 Regular
                Interests.

            
	
              Section
                4.12

            	
              Tax
                Treatment of Swap Payments and Swap Termination
                Payments.

            
	 
	
              ARTICLE
                V.

            
	
              THE
                CERTIFICATES

            
	
              Section
                5.01

            	
              The
                Certificates.

            
	
              Section
                5.02

            	
              Certificate
                Register; Registration of Transfer and Exchange of
                Certificates.

            
	
              Section
                5.03

            	
              Mutilated,
                Destroyed, Lost or Stolen Certificates.

            
	
              Section
                5.04

            	
              Persons
                Deemed Owners.

            
	
              Section
                5.05

            	
              Access
                to List of Certificateholders’ Names and Addresses.

            
	
              Section
                5.06

            	
              Book-Entry
                Certificates.

            
	
              Section
                5.07

            	
              Notices
                to Depository.

            
	
              Section
                5.08

            	
              Definitive
                Certificates.

            
	
              Section
                5.09

            	
              Maintenance
                of Office or Agency.

            
	 	 
	
              ARTICLE
                VI.

            
	
              THE
                DEPOSITOR, THE MASTER SERVICER AND THE SELLERS

            
	 
	
              Section
                6.01

            	
              Respective
                Liabilities of the Depositor, the Master Servicer and the
                Sellers.

            
	
              Section
                6.02

            	
              Merger
                or Consolidation of the Depositor, the Master Servicer or the
                Sellers.

            
	
              Section
                6.03

            	
              Limitation
                on Liability of the Depositor, the Sellers, the Master Servicer,
                the NIM
                Insurer and Others.

            
	
              Section
                6.04

            	
              Limitation
                on Resignation of Master Servicer.

            
	
              Section
                6.05

            	
              Errors
                and Omissions Insurance; Fidelity Bonds.

            
	 	 
	
              ARTICLE
                VII.

            
	
              DEFAULT;
                TERMINATION OF MASTER SERVICER

            
	 
	
              Section
                7.01

            	
              Events
                of Default.

            
	
              Section
                7.02

            	
              Trustee
                to Act; Appointment of Successor.

            
	
              Section
                7.03

            	
              Notification
                to Certificateholders.

            
	 	 
	
              ARTICLE
                VIII.

            
	
              CONCERNING
                THE TRUSTEE

            
	 
	
              Section
                8.01

            	
              Duties
                of Trustee.

            
	
              Section
                8.02

            	
              Certain
                Matters Affecting the Trustee.

            
	
              Section
                8.03

            	
              Trustee
                Not Liable for Mortgage Loans.

            
	
              Section
                8.04

            	
              Trustee
                May Own Certificates.

            
	
              Section
                8.05

            	
              Master
                Servicer to Pay Trustee’s Fees and Expenses.

            
	
              Section
                8.06

            	
              Eligibility
                Requirements for Trustee.

            
	
              Section
                8.07

            	
              Resignation
                and Removal of Trustee.

            
	
              Section
                8.08

            	
              Successor
                Trustee.

            
	
              Section
                8.09

            	
              Merger
                or Consolidation of Trustee.

            
	
              Section
                8.10

            	
              Appointment
                of Co-Trustee or Separate Trustee.

            
	
              Section
                8.11

            	
              Tax
                Matters.

            
	
              Section
                8.12

            	
              [Reserved].

            
	
              Section
                8.13

            	
              Access
                to Records of the Trustee.

            
	
              Section
                8.14

            	
              Suits
                for Enforcement.

            
	 	 
	
              ARTICLE
                IX.

            
	
              TERMINATION

            
	 
	
              Section
                9.01

            	
              Termination
                upon Liquidation or Repurchase of all Mortgage Loans.

            
	
              Section
                9.02

            	
              Final
                Distribution on the Certificates.

            
	
              Section
                9.03

            	
              Additional
                Termination Requirements.

            
	 	 
	
              ARTICLE
                X.

            
	
              MISCELLANEOUS
                PROVISIONS

            
	 
	
              Section
                10.01

            	
              Amendment.

            
	
              Section
                10.02

            	
              Recordation
                of Agreement; Counterparts.

            
	
              Section
                10.03

            	
              Governing
                Law.

            
	
              Section
                10.04

            	
              Intention
                of Parties.

            
	
              Section
                10.05

            	
              Notices.

            
	
              Section
                10.06

            	
              Severability
                of Provisions.

            
	
              Section
                10.07

            	
              Assignment.

            
	
              Section
                10.08

            	
              Limitation
                on Rights of Certificateholders.

            
	
              Section
                10.09

            	
              Inspection
                and Audit Rights.

            
	
              Section
                10.10

            	
              Certificates
                Nonassessable and Fully Paid.

            
	
              Section
                10.11

            	
              Rights
                of NIM Insurer.

            
	 	 
	
              ARTICLE
                XI.

            
	
              EXCHANGE
                ACT REPORTING

            
	 
	
              Section
                11.01

            	
              Filing
                Obligations.

            
	
              Section
                11.02

            	
              Form
                10-D Filings.

            
	
              Section
                11.03

            	
              Form
                8-K Filings.

            
	
              Section
                11.04

            	
              Form
                10-K Filings.

            
	
              Section
                11.05

            	
              Sarbanes-Oxley
                Certification.

            
	
              Section
                11.06

            	
              Form
                15 Filing.

            
	
              Section
                11.07

            	
              Report
                on Assessment of Compliance and Attestation.

            
	
              Section
                11.08

            	
              Use
                of Subservicers and Subcontractors.

            
	
              Section
                11.09

            	
              Amendments.

            
	
              Section
                11.10

            	
              Reconciliation
                of Accounts.

            

    

    

    Exhibits

    

    
      	
              EXHIBIT
                A

            	
              Forms
                of Certificates

            
	
              EXHIBIT
                A-1

            	
              Form
                of Class 1-A Certificate

            
	
              EXHIBIT
                A-2

            	
              Form
                of Class 2-A-1 Certificate

            
	
              EXHIBIT
                A-3

            	
              Form
                of Class 2-A-2 Certificate

            
	
              EXHIBIT
                A-4

            	
              Form
                of Class 2-A-3 Certificate

            
	
              EXHIBIT
                A-5

            	
              Form
                of Class 2-A-4 Certificate

            
	
              EXHIBIT
                A-6

            	
              Form
                of Class M-1 Certificate

            
	
              EXHIBIT
                A-7

            	
              Form
                of Class M-2 Certificate

            
	
              EXHIBIT
                A-8

            	
              Form
                of Class M-3 Certificate

            
	
              EXHIBIT
                A-9

            	
              Form
                of Class M-4 Certificate

            
	
              EXHIBIT
                A-10

            	
              Form
                of Class M-5 Certificate

            
	
              EXHIBIT
                A-11

            	
              Form
                of Class M-6 Certificate

            
	
              EXHIBIT
                A-12

            	
              Form
                of Class M-7 Certificate

            
	
              EXHIBIT
                A-13

            	
              Form
                of Class M-8 Certificate

            
	
              EXHIBIT
                A-14

            	
              Form
                of Class B Certificate

            
	
              EXHIBIT
                B

            	
              Form
                of Class P Certificate

            
	
              EXHIBIT
                C

            	
              Form
                of Class C Certificate

            
	
              EXHIBIT
                D

            	
              Form
                of Class A-R Certificate

            
	
              EXHIBIT
                E

            	
              Form
                of Tax Matters Person Certificate

            
	
              EXHIBIT
                F

            	
              Mortgage
                Loan Schedule

            
	
              EXHIBIT
                F-1

            	
              List
                of Mortgage Loans

            
	
              EXHIBIT
                F-2

            	
              Mortgage
                Loans for which All or a Portion of a Related Mortgage File is not
                Delivered to the Trustee on or prior to the Closing
                Date

            
	
              EXHIBIT
                G

            	
              Forms
                of Certification of Trustee

            
	
              EXHIBIT
                G-1

            	
              Form
                of Initial Certification of Trustee (Initial Mortgage
                Loans)

            
	
              EXHIBIT
                G-2

            	
              Form
                of Interim Certification of Trustee

            
	
              EXHIBIT
                G-3

            	
              Form
                of Delay Delivery Certification

            
	
              EXHIBIT
                G-4

            	
              Form
                of Initial Certification of Trustee (Subsequent Mortgage
                Loans)

            
	
              EXHIBIT
                H

            	
              Form
                of Final Certification of Trustee

            
	
              EXHIBIT
                I

            	
              Transfer
                Affidavit for Class A-R Certificates

            
	
              EXHIBIT
                J-1

            	
              Form
                of Transferor Certificate for Class A-R Certificates

            
	
              EXHIBIT
                J-2

            	
              Form
                of Transferor Certificate for Private Certificates

            
	
              EXHIBIT
                K

            	
              Form
                of Investment Letter (Non-Rule 144A)

            
	
              EXHIBIT
                L

            	
              Form
                of Rule 144A Letter

            
	
              EXHIBIT
                M

            	
              Form
                of Request for Document Release

            
	
              EXHIBIT
                N

            	
              Form
                of Request for File Release

            
	
              EXHIBIT
                O

            	
              Copy
                of Depository Agreement

            
	
              EXHIBIT
                P

            	
              Form
                of Subsequent Transfer Agreement

            
	
              EXHIBIT
                Q

            	
              [Reserved]

            
	
              EXHIBIT
                R

            	
              [Reserved]

            
	
              EXHIBIT
                S-1

            	
              [Reserved]

            
	
              EXHIBIT
                S-2

            	
              [Reserved]

            
	
              EXHIBIT
                T

            	
              Officer’s
                Certificate with respect to Prepayments

            
	
              EXHIBIT
                U

            	
              Form
                of Swap Contract

            
	
              EXHIBIT
                V-1

            	
              Form
                of Swap Contract Novation Agreement

            
	
              EXHIBIT
                V-2

            	
              Form
                of Swap
                Contract Administration Agreement

            
	
              EXHIBIT
                V-3

            	
              Form
                of Swap Guarantee

            
	
              EXHIBIT
                W

            	
              Form
                of Monthly Statement

            
	
              EXHIBIT
                X-1

            	
              Form
                of Performance Certification (Subservicer)

            
	
              EXHIBIT
                X-2

            	
              Form
                of Performance Certification (Trustee)

            
	
              EXHIBIT
                Y

            	
              Form
                of Servicing Criteria to be Addressed in Assessment of Compliance
                Statement

            
	
              EXHIBIT
                Z

            	
              List
                of Item 1119 Parties

            
	
              EXHIBIT
                AA

            	
              Form
                of Sarbanes-Oxley Certification (Replacement Master
                Servicer)

            
	
              SCHEDULE
                I

            	
              Prepayment
                Charge Schedule and Prepayment Charge Summary

            
	
              SCHEDULE
                II

            	
              Collateral
                Schedule

            

    

    

    

    
      
        
           

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    POOLING
      AND SERVICING AGREEMENT, dated as of May 1, 2006, by and among CWABS, INC.,
      a
      Delaware corporation, as depositor (the “Depositor”), COUNTRYWIDE HOME LOANS,
      INC., a New York corporation, as seller (“CHL” or a “Seller”), PARK MONACO INC.,
      a Delaware corporation, as a seller (“Park Monaco” or a “Seller”), PARK GRANADA
      LLC., a Delaware limited liability company, as a seller (“Park Granada” or a
“Seller”), PARK SIENNA LLC, a Delaware limited liability company, as a seller
      (“Park Sienna” or a “Seller”, and together with CHL, Park Granada and Park
      Monaco, the “Sellers”), COUNTRYWIDE HOME LOANS SERVICING LP, a Texas limited
      partnership, as master servicer (the “Master Servicer”), and THE BANK OF NEW
      YORK, a New York banking corporation, as trustee (the “Trustee”).

     

    PRELIMINARY
      STATEMENT:

     

    The
      Depositor intends to sell mortgage asset-backed pass-through certificates
      (collectively, the “Certificates”), to be issued hereunder in eighteen classes,
      which in the aggregate will evidence the entire beneficial ownership interest
      in
      the Mortgage Loans (as defined herein). 

     

     

    REMIC
      I

     

    As
      provided herein, the Trustee will make an election to treat the segregated
      pool
      of assets consisting of the Mortgage Loans and certain other related assets
      (exclusive of the Swap Contract, the Swap Trust, the Swap Account and the
      Carryover Reserve Fund) subject to this Agreement as a real estate mortgage
      investment conduit (a “REMIC”) for federal income tax purposes, and such
      segregated pool of assets will be designated as “REMIC 1.” The R-1-R Interest
      will represent the sole class of “residual interests” in REMIC 1 for purposes of
      the REMIC Provisions (as defined herein) under federal income tax law. The
      following table irrevocably sets forth the designation, REMIC 1 Remittance
      Rate
      and initial Uncertificated Principal Balance for each of the “regular interests”
in REMIC 1 (the “REMIC 1 Regular Interests”). None of the REMIC 1 Regular
      Interests will be certificated.

     

    
      	
              Designation

            	 	
              REMIC
                1

              Remittance
                Rate

            	 	
              Initial

              Uncertificated
                Principal Balance

            	 	
              Latest
                Possible

              Maturity
                Date(1)

            
	
              I

            	 	
              (2)

            	 	
              $

            	
              68,564,115.82
                

            	 	
              February
                25, 2046

            
	
              I-1-A

            	 	
              (2)

            	 	
              $

            	
              1,783,346.47
                

            	 	
              February
                25, 2046

            
	
              I-1-B

            	 	
              (2)

            	 	
              $

            	
              1,783,346.47
                

            	 	
              February
                25, 2046

            
	
              I-2-A

            	 	
              (2)

            	 	
              $

            	
              1,917,466.72
                

            	 	
              February
                25, 2046

            
	
              I-2-B

            	 	
              (2)

            	 	
              $

            	
              1,917,466.72
                

            	 	
              February
                25, 2046

            
	
              I-3-A

            	 	
              (2)

            	 	
              $

            	
              2,046,460.38
                

            	 	
              February
                25, 2046

            
	
              I-3-B

            	 	
              (2)

            	 	
              $

            	
              2,046,460.38
                

            	 	
              February
                25, 2046

            
	
              I-4-A

            	 	
              (2)

            	 	
              $

            	
              2,170,829.78
                

            	 	
              February
                25, 2046

            
	
              I-4-B

            	 	
              (2)

            	 	
              $

            	
              2,170,829.78
                

            	 	
              February
                25, 2046

            
	
              I-5-A

            	 	
              (2)

            	 	
              $

            	
              2,290,046.08
                

            	 	
              February
                25, 2046

            
	
              I-5-B

            	 	
              (2)

            	 	
              $

            	
              2,290,046.08
                

            	 	
              February
                25, 2046

            
	
              I-6-A

            	 	
              (2)

            	 	
              $

            	
              2,401,211.09
                

            	 	
              February
                25, 2046

            
	
              I-6-B

            	 	
              (2)

            	 	
              $

            	
              2,401,211.09
                

            	 	
              February
                25, 2046

            
	
              I-7-A

            	 	
              (2)

            	 	
              $

            	
              2,429,678.38
                

            	 	
              February
                25, 2046

            
	
              I-7-B

            	 	
              (2)

            	 	
              $

            	
              2,429,678.38
                

            	 	
              February
                25, 2046

            
	
              I-8-A

            	 	
              (2)

            	 	
              $

            	
              2,544,171.64
                

            	 	
              February
                25, 2046

            
	
              I-8-B

            	 	
              (2)

            	 	
              $

            	
              2,544,171.64
                

            	 	
              February
                25, 2046

            
	
              I-9-A

            	 	
              (2)

            	 	
              $

            	
              2,651,193.81
                

            	 	
              February
                25, 2046

            
	
              I-9-B

            	 	
              (2)

            	 	
              $

            	
              2,651,193.81
                

            	 	
              February
                25, 2046

            
	
              I-10-A

            	 	
              (2)

            	 	
              $

            	
              2,743,808.24
                

            	 	
              February
                25, 2046

            
	
              I-10-B

            	 	
              (2)

            	 	
              $

            	
              2,743,808.24
                

            	 	
              February
                25, 2046

            
	
              I-11-A

            	 	
              (2)

            	 	
              $

            	
              2,821,859.86
                

            	 	
              February
                25, 2046

            
	
              I-11-B

            	 	
              (2)

            	 	
              $

            	
              2,821,859.86
                

            	 	
              February
                25, 2046

            
	
              I-12-A

            	 	
              (2)

            	 	
              $

            	
              2,891,725.75
                

            	 	
              February
                25, 2046

            
	
              I-12-B

            	 	
              (2)

            	 	
              $

            	
              2,891,725.75
                

            	 	
              February
                25, 2046

            
	
              I-13-A

            	 	
              (2)

            	 	
              $

            	
              2,869,612.78
                

            	 	
              February
                25, 2046

            
	
              I-13-B

            	 	
              (2)

            	 	
              $

            	
              2,869,612.78
                

            	 	
              February
                25, 2046

            
	
              I-14-A

            	 	
              (2)

            	 	
              $

            	
              2,772,579.37
                

            	 	
              February
                25, 2046

            
	
              I-14-B

            	 	
              (2)

            	 	
              $

            	
              2,772,579.37
                

            	 	
              February
                25, 2046

            
	
              I-15-A

            	 	
              (2)

            	 	
              $

            	
              2,672,704.52
                

            	 	
              February
                25, 2046

            
	
              I-15-B

            	 	
              (2)

            	 	
              $

            	
              2,672,704.52
                

            	 	
              February
                25, 2046

            
	
              I-16-A

            	 	
              (2)

            	 	
              $

            	
              2,576,045.55
                

            	 	
              February
                25, 2046

            
	
              I-16-B

            	 	
              (2)

            	 	
              $

            	
              2,576,045.55
                

            	 	
              February
                25, 2046

            
	
              I-17-A

            	 	
              (2)

            	 	
              $

            	
              2,482,601.28
                

            	 	
              February
                25, 2046

            
	
              I-17-B

            	 	
              (2)

            	 	
              $

            	
              2,482,601.28
                

            	 	
              February
                25, 2046

            
	
              I-18-A

            	 	
              (2)

            	 	
              $

            	
              2,392,261.92
                

            	 	
              February
                25, 2046

            
	
              I-18-B

            	 	
              (2)

            	 	
              $

            	
              2,392,261.92
                

            	 	
              February
                25, 2046

            
	
              I-19-A

            	 	
              (2)

            	 	
              $

            	
              4,329,197.49
                

            	 	
              February
                25, 2046

            
	
              I-19-B

            	 	
              (2)

            	 	
              $

            	
              4,329,197.49
                

            	 	
              February
                25, 2046

            
	
              I-20-A

            	 	
              (2)

            	 	
              $

            	
              4,108,607.86
                

            	 	
              February
                25, 2046

            
	
              I-20-B

            	 	
              (2)

            	 	
              $

            	
              4,108,607.86
                

            	 	
              February
                25, 2046

            
	
              I-21-A

            	 	
              (2)

            	 	
              $

            	
              3,853,320.48
                

            	 	
              February
                25, 2046

            
	
              I-21-B

            	 	
              (2)

            	 	
              $

            	
              3,853,320.48
                

            	 	
              February
                25, 2046

            
	
              I-22-A

            	 	
              (2)

            	 	
              $

            	
              3,613,616.96
                

            	 	
              February
                25, 2046

            
	
              I-22-B

            	 	
              (2)

            	 	
              $

            	
              3,613,616.96
                

            	 	
              February
                25, 2046

            
	
              I-23-A

            	 	
              (2)

            	 	
              $

            	
              3,388,530.69
                

            	 	
              February
                25, 2046

            
	
              I-23-B

            	 	
              (2)

            	 	
              $

            	
              3,388,530.69
                

            	 	
              February
                25, 2046

            
	
              I-24-A

            	 	
              (2)

            	 	
              $

            	
              3,177,156.75
                

            	 	
              February
                25, 2046

            
	
              I-24-B

            	 	
              (2)

            	 	
              $

            	
              3,177,156.75
                

            	 	
              February
                25, 2046

            
	
              I-25-A

            	 	
              (2)

            	 	
              $

            	
              1,769,562.11
                

            	 	
              February
                25, 2046

            
	
              I-25-B

            	 	
              (2)

            	 	
              $

            	
              1,769,562.11
                

            	 	
              February
                25, 2046

            
	
              I-26-A

            	 	
              (2)

            	 	
              $

            	
              1,671,919.64
                

            	 	
              February
                25, 2046

            
	
              I-26-B

            	 	
              (2)

            	 	
              $

            	
              1,671,919.64
                

            	 	
              February
                25, 2046

            
	
              I-27-A

            	 	
              (2)

            	 	
              $

            	
              1,605,739.79
                

            	 	
              February
                25, 2046

            
	
              I-27-B

            	 	
              (2)

            	 	
              $

            	
              1,605,739.79
                

            	 	
              February
                25, 2046

            
	
              I-28-A

            	 	
              (2)

            	 	
              $

            	
              1,541,810.14
                

            	 	
              February
                25, 2046

            
	
              I-28-B

            	 	
              (2)

            	 	
              $

            	
              1,541,810.14
                

            	 	
              February
                25, 2046

            
	
              I-29-A

            	 	
              (2)

            	 	
              $

            	
              1,480,050.45
                

            	 	
              February
                25, 2046

            
	
              I-29-B

            	 	
              (2)

            	 	
              $

            	
              1,480,050.45
                

            	 	
              February
                25, 2046

            
	
              I-30-A

            	 	
              (2)

            	 	
              $

            	
              1,420,383.29
                

            	 	
              February
                25, 2046

            
	
              I-30-B

            	 	
              (2)

            	 	
              $

            	
              1,420,383.29
                

            	 	
              February
                25, 2046

            
	
              I-31-A

            	 	
              (2)

            	 	
              $

            	
              1,488,555.02
                

            	 	
              February
                25, 2046

            
	
              I-31-B

            	 	
              (2)

            	 	
              $

            	
              1,488,555.02
                

            	 	
              February
                25, 2046

            
	
              I-32-A

            	 	
              (2)

            	 	
              $

            	
              1,424,966.50
                

            	 	
              February
                25, 2046

            
	
              I-32-B

            	 	
              (2)

            	 	
              $

            	
              1,424,966.50
                

            	 	
              February
                25, 2046

            
	
              I-33-A

            	 	
              (2)

            	 	
              $

            	
              1,363,865.85
                

            	 	
              February
                25, 2046

            
	
              I-33-B

            	 	
              (2)

            	 	
              $

            	
              1,363,865.85
                

            	 	
              February
                25, 2046

            
	
              I-34-A

            	 	
              (2)

            	 	
              $

            	
              1,304,298.40
                

            	 	
              February
                25, 2046

            
	
              I-34-B

            	 	
              (2)

            	 	
              $

            	
              1,304,298.40
                

            	 	
              February
                25, 2046

            
	
              I-35-A

            	 	
              (2)

            	 	
              $

            	
              36,218,828.64
                

            	 	
              February
                25, 2046

            
	
              I-35-B

            	 	
              (2)

            	 	
              $

            	
              36,218,828.64
                

            	 	
              February
                25, 2046

            
	
              II

            	 	
              (2)

            	 	
              $

            	
              77,556,226.91
                

            	 	
              February
                25, 2046

            
	
              II-1-A

            	 	
              (2)

            	 	
              $

            	
              2,017,227.53
                

            	 	
              February
                25, 2046

            
	
              II-1-B

            	 	
              (2)

            	 	
              $

            	
              2,017,227.53
                

            	 	
              February
                25, 2046

            
	
              II-2-A

            	 	
              (2)

            	 	
              $

            	
              2,168,937.28
                

            	 	
              February
                25, 2046

            
	
              II-2-B

            	 	
              (2)

            	 	
              $

            	
              2,168,937.28
                

            	 	
              February
                25, 2046

            
	
              II-3-A

            	 	
              (2)

            	 	
              $

            	
              2,314,848.12
                

            	 	
              February
                25, 2046

            
	
              II-3-B

            	 	
              (2)

            	 	
              $

            	
              2,314,848.12
                

            	 	
              February
                25, 2046

            
	
              II-4-A

            	 	
              (2)

            	 	
              $

            	
              2,455,528.22
                

            	 	
              February
                25, 2046

            
	
              II-4-B

            	 	
              (2)

            	 	
              $

            	
              2,455,528.22
                

            	 	
              February
                25, 2046

            
	
              II-5-A

            	 	
              (2)

            	 	
              $

            	
              2,590,379.42
                

            	 	
              February
                25, 2046

            
	
              II-5-B

            	 	
              (2)

            	 	
              $

            	
              2,590,379.42
                

            	 	
              February
                25, 2046

            
	
              II-6-A

            	 	
              (2)

            	 	
              $

            	
              2,716,123.41
                

            	 	
              February
                25, 2046

            
	
              II-6-B

            	 	
              (2)

            	 	
              $

            	
              2,716,123.41
                

            	 	
              February
                25, 2046

            
	
              II-7-A

            	 	
              (2)

            	 	
              $

            	
              2,748,324.12
                

            	 	
              February
                25, 2046

            
	
              II-7-B

            	 	
              (2)

            	 	
              $

            	
              2,748,324.12
                

            	 	
              February
                25, 2046

            
	
              II-8-A

            	 	
              (2)

            	 	
              $

            	
              2,877,832.86
                

            	 	
              February
                25, 2046

            
	
              II-8-B

            	 	
              (2)

            	 	
              $

            	
              2,877,832.86
                

            	 	
              February
                25, 2046

            
	
              II-9-A

            	 	
              (2)

            	 	
              $

            	
              2,998,890.69
                

            	 	
              February
                25, 2046

            
	
              II-9-B

            	 	
              (2)

            	 	
              $

            	
              2,998,890.69
                

            	 	
              February
                25, 2046

            
	
              II-10-A

            	 	
              (2)

            	 	
              $

            	
              3,103,651.26
                

            	 	
              February
                25, 2046

            
	
              II-10-B

            	 	
              (2)

            	 	
              $

            	
              3,103,651.26
                

            	 	
              February
                25, 2046

            
	
              II-11-A

            	 	
              (2)

            	 	
              $

            	
              3,191,939.14
                

            	 	
              February
                25, 2046

            
	
              II-11-B

            	 	
              (2)

            	 	
              $

            	
              3,191,939.14
                

            	 	
              February
                25, 2046

            
	
              II-12-A

            	 	
              (2)

            	 	
              $

            	
              3,270,967.75
                

            	 	
              February
                25, 2046

            
	
              II-12-B

            	 	
              (2)

            	 	
              $

            	
              3,270,967.75
                

            	 	
              February
                25, 2046

            
	
              II-13-A

            	 	
              (2)

            	 	
              $

            	
              3,245,954.72
                

            	 	
              February
                25, 2046

            
	
              II-13-B

            	 	
              (2)

            	 	
              $

            	
              3,245,954.72
                

            	 	
              February
                25, 2046

            
	
              II-14-A

            	 	
              (2)

            	 	
              $

            	
              3,136,195.63
                

            	 	
              February
                25, 2046

            
	
              II-14-B

            	 	
              (2)

            	 	
              $

            	
              3,136,195.63
                

            	 	
              February
                25, 2046

            
	
              II-15-A

            	 	
              (2)

            	 	
              $

            	
              3,023,222.48
                

            	 	
              February
                25, 2046

            
	
              II-15-B

            	 	
              (2)

            	 	
              $

            	
              3,023,222.48
                

            	 	
              February
                25, 2046

            
	
              II-16-A

            	 	
              (2)

            	 	
              $

            	
              2,913,886.95
                

            	 	
              February
                25, 2046

            
	
              II-16-B

            	 	
              (2)

            	 	
              $

            	
              2,913,886.95
                

            	 	
              February
                25, 2046

            
	
              II-17-A

            	 	
              (2)

            	 	
              $

            	
              2,808,187.72
                

            	 	
              February
                25, 2046

            
	
              II-17-B

            	 	
              (2)

            	 	
              $

            	
              2,808,187.72
                

            	 	
              February
                25, 2046

            
	
              II-18-A

            	 	
              (2)

            	 	
              $

            	
              2,706,000.58
                

            	 	
              February
                25, 2046

            
	
              II-18-B

            	 	
              (2)

            	 	
              $

            	
              2,706,000.58
                

            	 	
              February
                25, 2046

            
	
              II-19-A

            	 	
              (2)

            	 	
              $

            	
              4,896,960.01
                

            	 	
              February
                25, 2046

            
	
              II-19-B

            	 	
              (2)

            	 	
              $

            	
              4,896,960.01
                

            	 	
              February
                25, 2046

            
	
              II-20-A

            	 	
              (2)

            	 	
              $

            	
              4,647,440.64
                

            	 	
              February
                25, 2046

            
	
              II-20-B

            	 	
              (2)

            	 	
              $

            	
              4,647,440.64
                

            	 	
              February
                25, 2046

            
	
              II-21-A

            	 	
              (2)

            	 	
              $

            	
              4,358,673.02
                

            	 	
              February
                25, 2046

            
	
              II-21-B

            	 	
              (2)

            	 	
              $

            	
              4,358,673.02
                

            	 	
              February
                25, 2046

            
	
              II-22-A

            	 	
              (2)

            	 	
              $

            	
              4,087,533.04
                

            	 	
              February
                25, 2046

            
	
              II-22-B

            	 	
              (2)

            	 	
              $

            	
              4,087,533.04
                

            	 	
              February
                25, 2046

            
	
              II-23-A

            	 	
              (2)

            	 	
              $

            	
              3,832,927.31
                

            	 	
              February
                25, 2046

            
	
              II-23-B

            	 	
              (2)

            	 	
              $

            	
              3,832,927.31
                

            	 	
              February
                25, 2046

            
	
              II-24-A

            	 	
              (2)

            	 	
              $

            	
              3,593,832.25
                

            	 	
              February
                25, 2046

            
	
              II-24-B

            	 	
              (2)

            	 	
              $

            	
              3,593,832.25
                

            	 	
              February
                25, 2046

            
	
              II-25-A

            	 	
              (2)

            	 	
              $

            	
              2,001,635.39
                

            	 	
              February
                25, 2046

            
	
              II-25-B

            	 	
              (2)

            	 	
              $

            	
              2,001,635.39
                

            	 	
              February
                25, 2046

            
	
              II-26-A

            	 	
              (2)

            	 	
              $

            	
              1,891,187.36
                

            	 	
              February
                25, 2046

            
	
              II-26-B

            	 	
              (2)

            	 	
              $

            	
              1,891,187.36
                

            	 	
              February
                25, 2046

            
	
              II-27-A

            	 	
              (2)

            	 	
              $

            	
              1,816,328.21
                

            	 	
              February
                25, 2046

            
	
              II-27-B

            	 	
              (2)

            	 	
              $

            	
              1,816,328.21
                

            	 	
              February
                25, 2046

            
	
              II-28-A

            	 	
              (2)

            	 	
              $

            	
              1,744,014.36
                

            	 	
              February
                25, 2046

            
	
              II-28-B

            	 	
              (2)

            	 	
              $

            	
              1,744,014.36
                

            	 	
              February
                25, 2046

            
	
              II-29-A

            	 	
              (2)

            	 	
              $

            	
              1,674,155.05
                

            	 	
              February
                25, 2046

            
	
              II-29-B

            	 	
              (2)

            	 	
              $

            	
              1,674,155.05
                

            	 	
              February
                25, 2046

            
	
              II-30-A

            	 	
              (2)

            	 	
              $

            	
              1,606,662.71
                

            	 	
              February
                25, 2046

            
	
              II-30-B

            	 	
              (2)

            	 	
              $

            	
              1,606,662.71
                

            	 	
              February
                25, 2046

            
	
              II-31-A

            	 	
              (2)

            	 	
              $

            	
              1,683,774.98
                

            	 	
              February
                25, 2046

            
	
              II-31-B

            	 	
              (2)

            	 	
              $

            	
              1,683,774.98
                

            	 	
              February
                25, 2046

            
	
              II-32-A

            	 	
              (2)

            	 	
              $

            	
              1,611,847.00
                

            	 	
              February
                25, 2046

            
	
              II-32-B

            	 	
              (2)

            	 	
              $

            	
              1,611,847.00
                

            	 	
              February
                25, 2046

            
	
              II-33-A

            	 	
              (2)

            	 	
              $

            	
              1,542,733.15
                

            	 	
              February
                25, 2046

            
	
              II-33-B

            	 	
              (2)

            	 	
              $

            	
              1,542,733.15
                

            	 	
              February
                25, 2046

            
	
              II-34-A

            	 	
              (2)

            	 	
              $

            	
              1,475,353.60
                

            	 	
              February
                25, 2046

            
	
              II-34-B

            	 	
              (2)

            	 	
              $

            	
              1,475,353.60
                

            	 	
              February
                25, 2046

            
	
              II-35-A

            	 	
              (2)

            	 	
              $

            	
              40,968,829.86
                

            	 	
              February
                25, 2046

            
	
              II-35-B

            	 	
              (2)

            	 	
              $

            	
              40,968,829.86
                

            	 	
              February
                25, 2046

            
	
              I-LT-P

            	 	
              (2)

            	 	
              $

            	
              100.00

            	 	
              February
                25, 2046

            
	
              I-LT-AR

            	 	
              (2)

            	 	
              $

            	
              100.00

            	 	
              February
                25, 2046

            

    

    

    ________________

    (1) For
      purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the
      Distribution Date immediately following the maturity date for the Mortgage
      Loan
      with the latest maturity date has been designated as the “latest possible
      maturity date” for each REMIC 1 Regular Interest.

    (1) Calculated
      in accordance with the definition of “REMIC 1 Remittance Rate”
herein.

    

    

    REMIC
      2

     

    As
      provided herein, the Trustee will elect to treat the segregated pool of assets
      consisting of the REMIC 1 Regular Interests as a REMIC for federal income tax
      purposes, and such segregated pool of assets will be designated as REMIC 2.
      The
      R-2-R Interest will represent the sole class of “residual interests” in REMIC 2
      for purposes of the REMIC Provisions under federal income tax law. The following
      table irrevocably sets forth the designation, REMIC 2 Remittance Rate, initial
      Uncertificated Principal Balance or each of the “regular interests” in REMIC 2
      (the “REMIC 2 Regular Interests”). None of the REMIC 2 Regular Interests will be
      certificated.

     

    
      	
              Designation

            	 	
              REMIC
                2 Remittance Rate

            	 	
              Uncertificated
                Principal Balance

            	 	
              Latest
                Possible Maturity Date(1)

            	 
	
              LT-AA

            	 	 	
              (2

            	
              )

            	
              $

            	
              318,500,167.45

            	 	 	
              February
                25, 2046

            	 
	
              LT-1A

            	 	 	
              (2

            	
              )

            	
              $

            	
              1,189,500.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-2A1

            	 	 	
              (2

            	
              )

            	
              $

            	
              860,960.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-2A2

            	 	 	
              (2

            	
              )

            	
              $

            	
              110,705.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-2A3

            	 	 	
              (2

            	
              )

            	
              $

            	
              299,920.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-2A4

            	 	 	
              (2

            	
              )

            	
              $

            	
              73,915.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M1

            	 	 	
              (2

            	
              )

            	
              $

            	
              123,500.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M2

            	 	 	
              (2

            	
              )

            	
              $

            	
              117,000.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M3

            	 	 	
              (2

            	
              )

            	
              $

            	
              68,250.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M4

            	 	 	
              (2

            	
              )

            	
              $

            	
              61,750.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M5

            	 	 	
              (2

            	
              )

            	
              $

            	
              61,750.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M6

            	 	 	
              (2

            	
              )

            	
              $

            	
              53,625.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M7

            	 	 	
              (2

            	
              )

            	
              $

            	
              47,125.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M8

            	 	 	
              (2

            	
              )

            	
              $

            	
              45,500.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-M9

            	 	 	
              (2

            	
              )

            	
              $

            	
              34,125.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-B

            	 	 	
              (2

            	
              )

            	
              $

            	
              37,375.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-ZZ

            	 	 	
              (2

            	
              )

            	
              $

            	
              3,315,003.42

            	 	 	
              February
                25, 2046

            	 
	
              II-LT-P

            	 	 	
              (2

            	
              )

            	
              $

            	
              100.00

            	 	 	
              February
                25, 2046

            	 
	
              II-LT-AR

            	 	 	
              (2

            	
              )

            	
              $

            	
              100.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-1SUB

            	 	 	
              (2

            	
              )

            	
              $

            	
              6,710.00

            	 	 	
              February
                25, 2046

            	 
	
              LT-1GRP

            	 	 	
              (2

            	
              )

            	
              $

            	
              30,500.02

            	 	 	
              February
                25, 2046

            	 
	
              LT-2SUB

            	 	 	
              (2

            	
              )

            	
              $

            	
              7,590.02

            	 	 	
              February
                25, 2046

            	 
	
              LT-2GRP

            	 	 	
              (2

            	
              )

            	
              $

            	
              34,500.02

            	 	 	
              February
                25, 2046

            	 
	
              LT-XX

            	 	 	
              (2

            	
              )

            	
              $

            	
              324,920,870.80

            	 	 	
              February
                25, 2046

            	 
	
              II-IO

            	 	 	
              (2

            	
              )

            	 	
              (3

            	
              )

            	 	
              February
                25, 2046

            	 

    

    

    ________________________

    
      	
              (1)

            	
              For
                purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                the
                Distribution Date immediately following the maturity date for the
                Mortgage
                Loan with the latest maturity date has been designated as the “latest
                possible maturity date” for each REMIC 2 Regular
                Interest.

            

    

    
      	
              (2)

            	
              Calculated
                as provided in the definition of “REMIC 2 Remittance Rate”
                herein.

            

    

    
      	
              (3)

            	
              REMIC
                2 Regular Interest II-IO will not have an Uncertificated Principal
                Balance, but will accrue interest on its Uncertificated Notional
                Amount.

            

    

    

    

    REMIC
      3

     

    As
      provided herein, the Trustee will elect to treat the segregated pool of assets
      consisting of the REMIC 2 Regular Interests as a REMIC for federal income tax
      purposes, and such segregated pool of assets will be designated as REMIC 3.
      The
      R-3-R Interest will represent the sole class of “residual interests” in REMIC 3
      for purposes of the REMIC Provisions under federal income tax law. The following
      table irrevocably sets forth the designation, Pass-Through Rate, aggregate
      Initial Certificate Principal Balance and Final Scheduled Distribution Date
      for
      each Class of Certificates comprising the interests representing “regular
      interests” in REMIC 3. 

     

    
      	
              Designation

            	 	
              Pass-Through
                Rate

            	 	
              Aggregate
                Initial Certificate Principal Balance

            	 	
              Latest
                Possible Maturity Date(1)

            	 
	
              Class
                1-A

            	 	 	
              (2

            	
              )

            	
              $

            	
              237,900,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                2-A-1

            	 	 	
              (2

            	
              )

            	
              $

            	
              172,192,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                2-A-2

            	 	 	
              (2

            	
              )

            	
              $

            	
              22,141,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                2-A-3

            	 	 	
              (2

            	
              )

            	
              $

            	
              59,984,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                2-A-4

            	 	 	
              (2

            	
              )

            	
              $

            	
              14,783,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-1

            	 	 	
              (2

            	
              )

            	
              $

            	
              24,700,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-2

            	 	 	
              (2

            	
              )

            	
              $

            	
              23,400,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-3

            	 	 	
              (2

            	
              )

            	
              $

            	
              13,650,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-4

            	 	 	
              (2

            	
              )

            	
              $

            	
              12,350,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-5

            	 	 	
              (2

            	
              )

            	
              $

            	
              12,350,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-6

            	 	 	
              (2

            	
              )

            	
              $

            	
              10,725,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-7

            	 	 	
              (2

            	
              )

            	
              $

            	
              9,425,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-8

            	 	 	
              (2

            	
              )

            	
              $

            	
              9,100,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                M-9

            	 	 	
              (2

            	
              )

            	
              $

            	
              6,825,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                B

            	 	 	
              (2

            	
              )

            	
              $

            	
              7,475,000.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                C

            	 	 	
              (3

            	
              )

            	
              $

            	
              650,000,441.73

            	 	 	
              February
                25, 2046

            	 
	
              Class
                P

            	 	 	
              (4

            	
              )

            	
              $

            	
              100.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                A-R

            	 	 	
              (5

            	
              )

            	
              $

            	
              100.00

            	 	 	
              February
                25, 2046

            	 
	
              Class
                Swap-IO Interest 

            	 	 	
              (6

            	
              )

            	 	
              (6

            	
              )

            	 	
              February
                25, 2046

            	 

    

    _______________

    
      	
              (1)

            	
              For
                purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                the
                Distribution Date immediately following the maturity date for the
                Mortgage
                Loan with the latest maturity date has been designated as the “latest
                possible maturity date” for each REMIC 3 Regular
                Certificate.

            

    

    (2)         
       Interest
      will accrue at a rate equal to the Pass-Through Rate, as defined
      herein.

    
      	
              (3)

            	
              The
                Class C Certificates will accrue interest at its variable Pass-Through
                Rate on the Class C Notional Amount outstanding from time to time
                which
                shall equal the Uncertificated Principal Balance of the REMIC 2
                Regular Interests (other than REMIC I Regular Interest LT-P). The
                Class C Certificates will not accrue interest on their Certificate
                Principal Balance initially equal to
                $13,000,341.73.

            

    

    
      	
              (4)

            	
              The
                Class P Certificates will be not entitled to distributions of interest,
                but will be entitled to all Prepayment Charges distributed with respect
                REMIC 2 Regular Interest LT-P.

            

    

    
      	
              (5)

            	
              The
                Class A-R Certificates represent the sole class of residual interests
                in
                each REMIC created hereunder. The Class A-R Certificates will not
                be
                entitled to distributions of
                interest.

            

    

    
      	
              (6)

            	
              The
                Class SWAP-IO Interest will not have a Pass-Through Rate or a Certificate
                Principal Balance, but will be entitled to 100% of amounts distributed
                on
                REMIC 2 Regular Interest II-IO.

            

    

    

    The
      foregoing REMIC structure is intended to cause all of the cash from the Mortgage
      Loans to flow through to REMIC 3 as cash flow on REMIC regular interests,
      without creating any shortfall— actual or potential (other than for credit
      losses)— to any REMIC regular interest. It is not intended that the Class A-R
      Certificates be entitled to any cash flows pursuant to this Agreement except
      as
      provided in Section 3.08(a) hereunder.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    ARTICLE
      I.

    DEFINITIONS

     

    Section
      1.01 Defined
      Terms.

     

    Whenever
      used in this Agreement, the following words and phrases, unless the context
      otherwise requires, shall have the following meanings:

     

    Account:
      The
      Escrow Account, the Certificate Account, the Distribution Account or any other
      account related to the Trust Fund or the Mortgage Loans.

     

    Accrual
      Period:
      With
      respect to any Distribution Date and each Class of Interest-Bearing
      Certificates, the period commencing on the immediately preceding Distribution
      Date (or, in the case of the first Distribution Date, the Closing Date) and
      ending on the day immediately preceding such Distribution Date. With respect
      to
      any Distribution Date and the Class C Certificates, the calendar month preceding
      the month in which such Distribution Date occurs. All calculations of interest
      on the Interest-Bearing Certificates will be made on the basis of the actual
      number of days elapsed in the related Accrual Period and on a 360-day year.
      All
      calculations of interest on the Class C Certificates will be made on the basis
      of a 360-day year consisting of twelve 30-day months.

     

    Adjustable
      Rate Mortgage Loans:
      The
      Mortgage Loans identified in the Mortgage Loan Schedule as having a Mortgage
      Rate which is adjustable in accordance with the terms of the related Mortgage
      Note.

     

    Adjusted
      Net Mortgage Rate:
      As to
      each Mortgage Loan, the Mortgage Rate less the related Expense Fee
      Rate.

     

    Adjusted
      Replacement Upfront Amount:
      As
      defined in Section 3.21.

     

    Adjustment
      Date:
      As to
      each Adjustable Rate Mortgage Loan, each date on which the related Mortgage
      Rate
      is subject to adjustment, as provided in the related Mortgage Note.

     

    Advance:
      The
      aggregate of the advances required to be made by the Master Servicer with
      respect to any Distribution Date pursuant to Section 4.01, the amount of any
      such advances being equal to the aggregate of payments of principal of, and
      interest on the Stated Principal Balance of, the Mortgage Loans (net of the
      Servicing Fees) that were due on the related Due Date and not received by the
      Master Servicer as of the close of business on the related Determination Date
      including an amount equivalent to interest on the Stated Principal Balance
      of
      each Mortgage Loan as to which the related Mortgaged Property is an REO Property
      or as to which the related Mortgaged Property has been liquidated but such
      Mortgage Loan has not yet become a Liquidated Mortgage Loan; provided, however,
      that the net monthly rental income (if any) from such REO Property deposited
      in
      the Certificate Account for such Distribution Date pursuant to Section 3.12
      may
      be used to offset such Advance for the related REO Property; provided, further,
      that for the avoidance of doubt, no Advances shall be required to be made in
      respect of any Liquidated Mortgage Loan.

     

    Agreement:
      This
      Pooling and Servicing Agreement and any and all amendments or supplements hereto
      made in accordance with the terms herein.

     

    Amount
      Held for Future Distribution:
      As to
      any Distribution Date, the aggregate amount held in the Certificate Account
      at
      the close of business on the immediately preceding Determination Date on account
      of (i) all Scheduled Payments or portions thereof received in respect of the
      Mortgage Loans due after the related Due Date, (ii) Principal Prepayments
      received in respect of such Mortgage Loans after the last day of the related
      Prepayment Period and (iii) Liquidation Proceeds and Subsequent Recoveries
      received in respect of such Mortgage Loans after the last day of the related
      Due
      Period.

     

    Applied
      Realized Loss Amount:
      With
      respect to any Distribution Date and any Loan Group or Loan Groups, the amount,
      if any, by which, the aggregate Certificate Principal Balance of the Class(es)
      of Certificates listed opposite such Loan Group(s) in the following table (after
      all distributions of principal on such Distribution Date) exceeds the sum of
      (x)
      the aggregate Stated Principal Balance of the Mortgage Loans in such Loan
      Group(s) for such Distribution Date and (y) the amount on deposit in the
      Pre-Funding Account in respect of such Loan Group(s); provided, however, that
      an
      Applied Realized Loss Amount will not exist for a single Loan Group with respect
      to its corresponding Class A Certificates unless the Certificate Principal
      Balances of the Subordinate Certificates have been reduced to zero.

     

    
      	
              Loan
                Group(s)

            	
              Class(es)
                of Certificates

            
	 	 
	
              1
                and 2

            	
              Subordinate

            
	
              1

            	
              1-A

            
	
              2

            	
              2-A

            
	 	 

    

    Appraised
      Value:
      The
      appraised value of the Mortgaged Property based upon the appraisal made for
      the
      originator of the related Mortgage Loan by an independent fee appraiser at
      the
      time of the origination of the related Mortgage Loan, or the sales price of
      the
      Mortgaged Property at the time of such origination, whichever is less, or with
      respect to any Mortgage Loan originated in connection with a refinancing, the
      appraised value of the Mortgaged Property based upon the appraisal made at
      the
      time of such refinancing.

     

    Bankruptcy
      Code:
      Title
      11 of the United States Code.

     

    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 5.06).
      As of the Closing Date, each Class of Offered Certificates (other than the
      Class
      A-R Certificates) constitutes a Class of Book-Entry Certificates.

     

    Business
      Day:
      Any day
      other than (i) a Saturday or a Sunday or (ii) a day on which banking
      institutions in the State of New York or California or 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.

     

    Carryover
      Reserve Fund:
      The
      separate Eligible Account created and initially maintained by the Trustee
      pursuant to Section 4.07 in the name of the Trustee for the benefit of the
      Certificateholders and designated “The Bank of New York in trust for registered
      Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-BC2”. Funds in
      the Carryover Reserve Fund shall be held in trust for the Certificateholders
      for
      the uses and purposes set forth in this Agreement.

     

    Certificate:
      Any one
      of the certificates of any Class executed and authenticated by the Trustee
      in
      substantially the forms attached hereto as Exhibits A-1 through A-14, Exhibit
      B,
      Exhibit C, Exhibit D and Exhibit E.

     

    Certificate
      Account:
      The
      separate Eligible Account created and initially maintained by the Master
      Servicer pursuant to Section 3.05(b) at Countrywide Bank, N.A., which is an
      affiliate of the Master Servicer in the name of the Master Servicer for the
      benefit of the Trustee on behalf of the Certificateholders and designated
“Countrywide Home Loans Servicing LP in trust for registered Holders of CWABS,
      Inc., Asset-Backed Certificates, Series 2006-BC2”. Funds in the Certificate
      Account shall be held in trust for the Certificateholders for the uses and
      purposes set forth in this Agreement.

     

    Certificate
      Owner:
      With
      respect to a Book-Entry Certificate, the person that is the beneficial owner
      of
      such Book-Entry Certificate.

     

    Certificate
      Principal Balance:
      As to
      any Certificate (other than the Class C Certificates) and as of any Distribution
      Date, the Initial Certificate Principal Balance of such Certificate (A) less
      the
      sum of (i) all amounts distributed with respect to such Certificate in reduction
      of the Certificate Principal Balance thereof on previous Distribution Dates
      pursuant to Section 4.04(b) and (ii) any Applied Realized Loss Amounts allocated
      to such Certificate on previous Distribution Dates pursuant to Section 4.04(g),
      and (B) increased by any Subsequent Recoveries allocated to such Certificate
      pursuant to Section 4.04(h) on such Distribution Date. References herein to
      the
      Certificate Principal Balance of a Class of Certificates shall mean the
      Certificate Principal Balances of all Certificates in such Class. As to any
      Class C Certificate and as of any Distribution Date, an amount equal to the
      excess, if any, of (i) the aggregate Stated
      Principal Balance of
      the
      Mortgage Loans over (ii) the aggregate Certificate Principal Balance of the
      Senior Certificates and Subordinate Certificates. With respect to any
      Certificate (other than the Class C Certificates) of a Class and any
      Distribution Date, the portion of the Certificate Principal Balance of such
      Class represented by such Certificate equal to the product of the Percentage
      Interest evidenced by such Certificate and the Certificate Principal Balance
      of
      such Class.

     

    Certificate
      Register:
      The
      register maintained pursuant to Section 5.02 hereof.

     

    Certificateholder
      or Holder:
      The
      person in whose name a Certificate is registered in the Certificate Register
      (initially, Cede & Co., as nominee for the Depository, in the case of any
      Class of Book-Entry Certificates), except that solely for the purpose of giving
      any consent pursuant to this Agreement, any Certificate registered in the name
      of the Depositor or any affiliate of the Depositor shall be deemed not to be
      Outstanding and the Voting Interest evidenced thereby shall not be taken into
      account in determining whether the requisite amount of Voting Interests
      necessary to effect such consent has been obtained; provided that if any such
      Person (including the Depositor) owns 100% of the Voting Interests evidenced
      by
      a Class of Certificates, such Certificates shall be deemed to be Outstanding
      for
      purposes of any provision hereof (other than the second sentence of Section
      10.01 hereof) that requires the consent of the Holders of Certificates of a
      particular Class as a condition to the taking of any action hereunder. The
      Trustee is entitled to rely conclusively on a certification of the Depositor
      or
      any affiliate of the Depositor in determining which Certificates are registered
      in the name of an affiliate of the Depositor.

     

    Certification
      Party:
      As
      defined in Section 11.05.

     

    Certifying
      Person:
      As
      defined in Section 11.05.

     

    CHL:
      Countrywide Home Loans, Inc., a New York corporation, and its successors and
      assigns.

     

    CHL
      Mortgage Loans:
      The
      Mortgage Loans identified as such on the Mortgage Loan Schedule for which CHL
      is
      the applicable Seller.

     

    Class:
      All
      Certificates bearing the same Class designation as set forth in Section 5.01
      hereof.

     

    Class
      1-A Certificate:
      Any
      Certificate designated as a “Class 1-A Certificate” on the face thereof, in the
      form of Exhibit A-1 hereto, representing the right to distributions as set
      forth
      herein.

     

    Class
      1-A Net Rate Cap:
      For any
      Distribution Date, the weighted average Adjusted Net Mortgage Rate of the
      Mortgage Loans in Loan Group 1 as of the first day of the related Due Period
      (except for the first Distribution Date, after giving effect to Principal
      Prepayments received during the Prepayment Period that ends during such Due
      Period), adjusted to an effective rate reflecting the calculation of interest
      on
      the basis of the actual number of days elapsed during the related Accrual Period
      and a 360-day year, minus a fraction, expressed as a percentage, the numerator
      of which is (a) the product of (x) the sum of (1) the Net Swap Payment payable
      to the Swap Counterparty with respect to such Distribution Date times a
      fraction, the numerator of which is equal to 360 and the denominator of which
      is
      equal to the actual number of days in the related Accrual Period and (2) any
      Swap Termination Payment payable to the Swap Counterparty for such Distribution
      Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger
      Event) and (y) a fraction, the numerator of which is the Interest Funds for
      Loan
      Group 1 for such Distribution Date, and the denominator of which is the Interest
      Funds for Loan Group 1 and Loan Group 2 for such Distribution Date, and the
      denominator of which is (b) the sum of the aggregate Stated Principal Balance
      of
      the Mortgage Loans in Loan Group 1 as of the first day of the related Due Period
      (except for the first Distribution Date, after giving effect to Principal
      Prepayments received during the Prepayment Period that ends during such Due
      Period) plus any amounts on deposit in the Pre-Funding Account in respect of
      Loan Group 1 as of the first day of that Due Period.

     

    Class
      1-A Principal Distribution Amount:
      With
      respect to any Distribution Date, the product of (x) the Class A Principal
      Distribution Target Amount and (y) a fraction, the numerator of which is the
      Class 1-A Principal Distribution Target Amount and the denominator of which
      is
      the sum of the Class 1-A Principal Distribution Target Amount and the Class
      2-A
      Principal Distribution Target Amount.

    

    Class
      1-A Principal Distribution Target Amount:
      With
      respect to any Distribution Date, the excess of: (1) the Certificate Principal
      Balance of the Class 1-A Certificates immediately prior to the Distribution
      Date, over (2) the lesser of (i) 56.00% of the aggregate Stated Principal
      Balance of the Mortgage Loans in Loan Group 1 for the Distribution Date and
      (ii)
      the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group
      1 for
      the Distribution Date minus 0.50% of the sum of the aggregate Initial Cut-off
      Date Principal Balance of the Initial Mortgage Loans in Loan Group 1 and the
      Group 1 Pre-Funded Amount.

    

    Class
      2-A-1 Certificate:
      Any
      Certificate designated as a “Class 2-A-1 Certificate” on the face thereof, in
      the form of Exhibit A-2 hereto, representing the right to distributions as
      set
      forth herein.

     

    Class
      2-A-2 Certificate:
      Any
      Certificate designated as a “Class 2-A-2 Certificate” on the face thereof, in
      the form of Exhibit A-3 hereto, representing the right to distributions as
      set
      forth herein.

     

    Class
      2-A-3 Certificate:
      Any
      Certificate designated as a “Class 2-A-3 Certificate” on the face thereof, in
      the form of Exhibit A-4 hereto, representing the right to distributions as
      set
      forth herein.

     

    Class
      2-A-4 Certificate:
      Any
      Certificate designated as a “Class 2-A-4 Certificate” on the face thereof, in
      the form of Exhibit A-4 hereto, representing the right to distributions as
      set
      forth herein.

     

    Class
      2-A Certificate:
      Any
      Class 2-A-1, Class 2-A-2, Class 2-A-3 or Class 2-A-4 Certificate.

     

    Class
      2-A Net Rate Cap:
      For any
      Distribution Date, the weighted average Adjusted Net Mortgage Rate of the
      Mortgage Loans in Loan Group 2 as of the first day of the related Due Period
      (except for the first Distribution Date, after giving effect to Principal
      Prepayments received during the Prepayment Period that ends during such Due
      Period), adjusted to an effective rate reflecting the calculation of interest
      on
      the basis of the actual number of days elapsed during the related Accrual Period
      and a 360-day year, minus a fraction, expressed as a percentage, the numerator
      of which is (a) the product of (x) the sum of (1) the Net Swap Payment payable
      to the Swap Counterparty with respect to such Distribution Date times a
      fraction, the numerator of which is equal to 360 and the denominator of which
      is
      equal to the actual number of days in the related Accrual Period and (2) any
      Swap Termination Payment payable to the Swap Counterparty for such Distribution
      Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger
      Event) and (y) a fraction, the numerator of which is the Interest Funds for
      Loan
      Group 2 for such Distribution Date, and the denominator of which is the Interest
      Funds for Loan Group 1 and Loan Group 2 for such Distribution Date, and the
      denominator of which is (b) the sum of the aggregate Stated Principal Balance
      of
      the Mortgage Loans in Loan Group 2 as of the first day of the related Due Period
      (except for the first Distribution Date, after giving effect to Principal
      Prepayments received during the Prepayment Period that that ends during such
      Due
      Period) plus any amounts on deposit in the Pre-Funding Account in respect of
      Loan Group 2 as of the first day of that Due Period.

     

    Class
      2-A Principal Distribution Amount:
      For any
      Distribution Date means the product of (x) the Class A Principal Distribution
      Target Amount and (y) a fraction, the numerator of which is the Class 2-A
      Principal Distribution Target Amount and the denominator of which is the sum
      of
      the Class 1-A Principal Distribution Target Amount and the Class 2-A Principal
      Distribution Target Amount.

    

    Class
      2-A Principal Distribution Target Amount:
      For any
      Distribution Date means the excess of: (1) the aggregate Certificate Principal
      Balance of the Class 2-A Certificates immediately prior to the Distribution
      Date, over (2) the lesser of (i) 56.00% of the aggregate Stated Principal
      Balance of the Mortgage Loans in Loan Group 2 for the Distribution Date and
      (ii)
      the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group
      2 for
      the Distribution Date minus 0.50% of the sum of the aggregate Initial Cut-off
      Date Principal Balance of the Initial Mortgage Loans in Loan Group 2 and the
      Group 2 Pre-Funded Amount.

     

    Class
      A Principal Distribution Target Amount:
      With
      respect to any Distribution Date, the excess of: (1) the aggregate Certificate
      Principal Balance of the Class A Certificates immediately prior to the
      Distribution Date, over (2) the lesser of (i) 56.00% of the aggregate Stated
      Principal Balance of the Mortgage Loans for the Distribution Date and (ii)
      the
      aggregate Stated Principal Balance of the Mortgage Loans for the Distribution
      Date minus the OC Floor.

     

    Class
      A Principal Distribution Allocation Amount:
      With
      respect to any Distribution Date, (a) in the case of the Class 1-A Certificates,
      the Class 1-A Principal Distribution Amount and (b) in the case of the Class
      2-A
      Certificates, the Class 2-A Principal Distribution Amount.

    

    Class
      A-R Certificate:
      Any
      Certificate designated as a “Class A-R Certificate” on the face thereof, in the
      form of Exhibit D hereto or, in the case of the Tax Matters Person Certificate,
      Exhibit E hereto, in either case representing the right to distributions as
      set
      forth herein. The Class A-R Certificates represent ownership of the R-1-R
      Interest, the R-2-R Interest and the R-3-R Interest.

     

    Class
      A Certificate:
      Any
      Class 1-A or Class 2-A Certificate.

     

    Class
      B Certificate:
      Any
      Certificate designated as a “Class B Certificate” on the face thereof, in the
      form of Exhibit A-14 hereto, representing the right to distributions as set
      forth herein.

     

    Class
      C Certificate:
      Any
      Certificate designated as a “Class C Certificate” on the face thereof, in the
      form of Exhibit C hereto, representing the right to distributions as set forth
      herein.

     

    Class
      C Current Interest:
      For any
      Distribution Date, the interest accrued on the Class C Notional Amount during
      the related Accrual Period at the related Pass-Through Rate.

     

    Class
      C Notional Amount:
      The
      aggregate amount of the Uncertificated Principal Balance of the REMIC II Regular
      Interests other than REMIC II Regular Interest LT-P.

     

    Class
      IO Distribution Amount:
      As
      defined in Section 4.9 hereof. For purposes of clarity, the Class IO
      Distribution Amount for any Distribution Date shall equal the amount payable
      to
      the Swap Contract Administrator on such Distribution Date in excess of the
      amount payable on the Class SWAP-IO Interest on such Distribution Date, all
      as
      further provided in Section 4.9 hereof.

     

    
      Class
        M Certificates:
        The
        Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7,
        Class M-8 and Class M-9 Certificates.

       

    

    Class
      M-1 Certificate:
      Any
      Certificate designated as a “Class M-1 Certificate” on the face thereof, in the
      form of Exhibit A-6 hereto, representing the right to distributions as set
      forth
      herein.

     

    Class
      M-2 Certificate:
      Any
      Certificate designated as a “Class M-2 Certificate” on the face thereof, in the
      form of Exhibit A-7 hereto, representing the right to distributions as set
      forth
      herein.

     

    Class
      M-3 Certificate:
      Any
      Certificate designated as a “Class M-3 Certificate” on the face thereof, in the
      form of Exhibit A-8 hereto, representing the right to distributions as set
      forth
      herein.

     

    Class
      M-4 Certificate:
      Any
      Certificate designated as a “Class M-4 Certificate” on the face thereof, in the
      form of Exhibit A-9 hereto, representing the right to distributions as set
      forth
      herein.

     

    Class
      M-5 Certificate:
      Any
      Certificate designated as a “Class M-5 Certificate” on the face thereof, in the
      form of Exhibit A-10 hereto, representing the right to distributions as set
      forth herein.

     

    Class
      M-6 Certificate:
      Any
      Certificate designated as a “Class M-6 Certificate” on the face thereof, in the
      form of Exhibit A-11 hereto, representing the right to distributions as set
      forth herein.

     

    Class
      M-7 Certificate:
      Any
      Certificate designated as a “Class M-7 Certificate” on the face thereof, in the
      form of Exhibit A-12 hereto, representing the right to distributions as set
      forth herein.

     

    Class
      M-8 Certificate:
      Any
      Certificate designated as a “Class M-8 Certificate” on the face thereof, in the
      form of Exhibit A-13 hereto, representing the right to distributions as set
      forth herein.

     

    Class
      M-9 Certificate:
      Any
      Certificate designated as a “Class M-9 Certificate” on the face thereof, in the
      form of Exhibit A-13 hereto, representing the right to distributions as set
      forth herein.

     

    Class
      P Certificate:
      Any
      Certificate designated as a “Class P Certificate” on the face thereof, in the
      form of Exhibit B hereto, representing the right to distributions as set forth
      herein.

     

    Class
      P Principal Distribution Date:
      The
      first Distribution Date that occurs after the end of the latest Prepayment
      Charge Period for all Mortgage Loans that have a Prepayment Charge
      Period.

     

    Class
      P Notional Amount:
      Solely
      for purposes of the face of the Class P Certificates, an amount equal to
      $548,989,588.11.

     

    Class
      SWAP-IO Interest:
      An
      uncertificated interest in the Trust Fund evidencing a Regular Interest in
      REMIC
      3.

     

    Closing
      Date:
      May 30,
      2006.

     

    Code:
      The
      Internal Revenue Code of 1986, including any successor or amendatory
      provisions.

     

    Collateral
      Schedule:
      Schedule II hereto.

     

    Commission:
      The
      U.S. Securities and Exchange Commission.

     

    Compensating
      Interest:
      With
      respect to each Loan Group and any Distribution Date, an amount equal to, in
      that Loan Group, the lesser of (x) one-half of the Servicing Fee for the related
      Due Period and (y) the aggregate Prepayment Interest Shortfalls for the Mortgage
      Loans in that Loan Group for such Distribution Date.

     

    Confirmation:
      The
      confirmation, reference numbers 1199119L, 1199115L, 1199111L, N923303, 2497518,
      2497513, 2497580, with a trade date of May 3, 2006, evidencing a transaction
      between the Swap Counterparty and CHL relating to the Swap
      Contract.

     

    Corporate
      Trust Office:
      The
      designated office of the Trustee in the State of New York where at any
      particular time its corporate trust business with respect to this Agreement
      shall be administered, which office at the date of the execution of this
      Agreement is located at 101 Barclay Street, New York, New York 10286 (Attention:
      Corporate Trust MBS Administration), telephone: (212) 815-3236, facsimile:
      (212)
      815-3986.

     

    Corresponding
      Certificate:
      With
      respect to each REMIC 2 Regular Interest, as follows:

     

    
      	
              REMIC
                2 Regular Interest

            	
              Class

            
	
              REMIC
                2 Regular Interest LT-1A

            	
              1A

            
	
              REMIC
                2 Regular Interest LT-2A1

            	
              2-A-1

            
	
              REMIC
                2 Regular Interest LT-2A2

            	
              2-A-2

            
	
              REMIC
                2 Regular Interest LT-2A3

            	
              2-A-3

            
	
              REMIC
                2 Regular Interest LT-2A4

            	
              2-A-4

            
	
              REMIC
                2 Regular Interest LT-M1

            	
              M-1

            
	
              REMIC
                2 Regular Interest LT-M2

            	
              M-2

            
	
              REMIC
                2 Regular Interest LT-M3

            	
              M-3

            
	
              REMIC
                2 Regular Interest LT-M4

            	
              M-4

            
	
              REMIC
                2 Regular Interest LT-M5

            	
              M-5

            
	
              REMIC
                2 Regular Interest LT-M6

            	
              M-6

            
	
              REMIC
                2 Regular Interest LT-M7

            	
              M-7

            
	
              REMIC
                2 Regular Interest LT-M8

            	
              M-8

            
	
              REMIC
                2 Regular Interest LT-M9

            	
              M-9

            
	
              REMIC
                2 Regular Interest LT-B

            	
              B

            
	
              REMIC
                2 Regular Interest LT-AR

            	
              A-R

            
	
              REMIC
                2 Regular Interest II-LTP

            	
              P

            

    

    

    Credit
      Bureau Risk Score:
      A
      statistical credit score obtained by CHL in connection with the origination
      of a
      Mortgage Loan.

     

    Cumulative
      Loss Trigger Event:
      With
      respect to a Distribution Date on or after the Stepdown Date, a Cumulative
      Loss
      Trigger Event will be in effect if (x) the aggregate amount of Realized Losses
      on the Mortgage Loans from the Cut-off Date for each such Mortgage Loan to
      (and
      including) the last day of the related Due Period (reduced by the aggregate
      amount of any Subsequent Recoveries received through the last day of that Due
      Period) exceeds (y) the applicable percentage, for such Distribution Date,
      of
      the sum of the aggregate Cut-off Date Principal Balance of the Initial Mortgage
      Loans and the Pre-Funded Amount, as set forth below:

     

    
      	
              Distribution
                Date

            	
              Percentage

            
	
              June
                2008 — May 2009

            	
              1.70%
                with respect to
                June 2008,
                plus an additional 1/12th of 2.05% for each month thereafter
                through
                May 2009

            
	
              June
                2009 — May 2010

            	
              3.75%
                with respect to June
                2009,
                plus an additional 1/12th of 2.15% for each month thereafter through
                May
                2010

            
	
              June
                2010 — May 2011

            	
              5.90%
                with respect to June
                2010,
                plus an additional 1/12th of 1.35% for each month thereafter through
                May
                2011

            
	
              June
                2011 — May 2012

            	
              7.25%
                with respect to June
                2011,
                plus an additional 1/12th of 0.50% for each month thereafter through
                May
                2012

            
	
              June
                2012 and thereafter

            	
              7.75%

            
	 	 

    

    

    Current
      Interest:
      With
      respect to each Class of Interest-Bearing Certificates and each Distribution
      Date, the interest accrued at the applicable Pass-Through Rate for the
      applicable Accrual Period on the Certificate Principal Balance of such Class
      immediately prior to such Distribution Date.

     

    Cut-off
      Date:
      When
      used with respect to any Mortgage Loan the “Cut-off Date” shall mean the Initial
      Cut-off Date or the related Subsequent Cut-off Date, as the case may
      be.

     

    Cut-off
      Date Principal Balance:
      As to
      any Mortgage Loan, the unpaid principal balance thereof as of the close of
      business on the Cut-off Date after application of all payments of principal
      due
      on or prior to the Cut-off Date, whether or not received, and all Principal
      Prepayments received on or prior to the Cut-off Date, but without giving effect
      to any installments of principal received in respect of Due Dates after the
      Cut-off Date.

     

    Debt
      Service Reduction:
      With
      respect to any Mortgage Loan, a reduction by a court of competent jurisdiction
      in a proceeding under the Bankruptcy Code in the Scheduled Payment for such
      Mortgage Loan that became final and non-appealable, except such a reduction
      resulting from a Deficient Valuation or any other reduction that results in
      a
      permanent forgiveness of principal.

     

    Deficient
      Valuation:
      With
      respect to any Mortgage Loan, a valuation by a court of competent jurisdiction
      of the Mortgaged Property in an amount less than the then outstanding
      indebtedness under such Mortgage Loan, or any reduction in the amount of
      principal to be paid in connection with any Scheduled Payment that results
      in a
      permanent forgiveness of principal, which valuation or reduction results from
      an
      order of such court that is final and non-appealable in a proceeding under
      the
      Bankruptcy Code.

     

    Definitive
      Certificates:
      As
      defined in Section 5.06.

     

    Delay
      Delivery Mortgage Loans:
      (i) The
      Initial Mortgage Loans identified on the schedule of Mortgage Loans hereto
      set
      forth on Exhibit F-2 hereof for which all or a portion of a related Mortgage
      File is not delivered to the Trustee on or prior to the Closing Date, and (ii)
      the Subsequent Mortgage Loans identified on the schedule of Subsequent Mortgage
      Loans set forth in Annex A to each related Subsequent Transfer Agreement for
      which all or a portion of the related Mortgage File is not delivered to the
      Trustee on or prior to the related Subsequent Transfer Date. The Depositor
      shall
      deliver (or cause delivery of) the Mortgage Files to the Trustee: (A) with
      respect to at least 50% of the Initial Mortgage Loans in each Loan Group, not
      later than the Closing Date and with respect to at least 10% of the Subsequent
      Mortgage Loans in each Loan Group conveyed on a Subsequent Transfer Date, not
      later than such Subsequent Transfer Date, (B) with respect to at least an
      additional 40% of the Initial Mortgage Loans in each Loan Group, not later
      than
      20 days after the Closing Date, and not later than 20 days after the relevant
      Subsequent Transfer Date with respect to the remaining Subsequent Mortgage
      Loans
      conveyed on such Subsequent Transfer Date, and (C) with respect to the remaining
      Initial Mortgage Loans, not later than thirty days after the Closing Date.
      To
      the extent that Countrywide Home Loans, Inc. shall be in possession of any
      Mortgage Files with respect to any Delay Delivery Mortgage Loan, until delivery
      of such Mortgage File to the Trustee as provided in Section 2.01, Countrywide
      Home Loans, Inc. shall hold such files as agent and in trust for the
      Trustee.

     

    Deleted
      Mortgage Loan:
      A
      Mortgage Loan replaced or to be replaced by a Replacement Mortgage
      Loan.

     

    Delinquency
      Trigger Event:
      With
      respect to any Distribution Date on or after the Stepdown Date, a Delinquency
      Trigger Event will be in effect if the Rolling Sixty-Day Delinquency Rate for
      Outstanding Mortgage Loans equals or exceeds the product of (x) the Senior
      Enhancement Percentage for such Distribution Date and (y) the applicable
      percentage listed below for the most senior Class of Interest-Bearing
      Certificates:

     

    
      	
              Class

            	
              Percentage

            
	 	 
	
              A

            	
              35.00%

            
	
              Class
                M-1

            	
              42.25%

            
	
              Class
                M-2

            	
              52.50%

            
	
              Class
                M-3

            	
              61.50%

            
	
              Class
                M-4

            	
              72.50%

            
	
              Class
                M-5

            	
              88.50%

            
	
              Class
                M-6

            	
              109.00%

            
	
              Class
                M-7

            	
              137.50%

            
	
              Class
                M-8

            	
              183.25%

            
	
              Class
                M-9

            	
              244.25%

            
	
              Class
                B

            	
              385.00%

            

    

    

     

    Delinquent:
      A
      Mortgage Loan is “delinquent” if any payment due thereon is not made pursuant to
      the terms of such Mortgage Loan by the close of business on the day such payment
      is scheduled to be due. A Mortgage Loan is “30 days delinquent” if such payment
      has not been received by the close of business on the corresponding day of
      the
      month immediately succeeding the month in which such payment was due, or, if
      there is no such corresponding day (e.g., as when a 30-day month follows a
      31-day month in which a payment was due on the 31st day of such month), then
      on
      the last day of such immediately succeeding month. Similarly for “60 days
      delinquent,” “90 days delinquent” and so on.

     

    Denomination:
      With
      respect to each Certificate, the amount set forth on the face thereof as the
      “Initial Certificate Balance of this Certificate” or, if not the foregoing, the
      Percentage Interest appearing on the face thereof, as applicable.

     

    Depositor:
      CWABS,
      Inc., a Delaware corporation, or its successor in interest.

     

    Depository:
      The
      initial Depository shall be The Depository Trust Company, the nominee of which
      is Cede & Co., or any other organization registered as a “clearing agency”
pursuant to Section 17A of the Securities Exchange Act of 1934, as amended.
      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(a)(5) of the Uniform Commercial Code of the State
      of
      New York.

     

    Depository
      Agreement:
      With
      respect to the Book-Entry Certificates, the agreement among the Depositor and
      the initial Depository, dated as of the Closing Date, substantially in the
      form
      of Exhibit O.

     

    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.

     

    Determination
      Date:
      With
      respect to any Distribution Date, the 15th
      day of
      the month of such Distribution Date or, if such 15th
      day is
      not a Business Day, the immediately preceding Business Day.

     

    Distribution
      Account:
      The
      separate Eligible Account created and maintained by the Trustee pursuant to
      Section 3.05(c) in the name of the Trustee for the benefit of the
      Certificateholders and designated “The Bank of New York, in trust for registered
      Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-BC2”. Funds in
      the Distribution Account shall be held in trust for the Certificateholders
      for
      the uses and purposes set forth in this Agreement.

     

    Distribution
      Account Deposit Date:
      As to
      any Distribution Date, 1:00 p.m. Pacific time on the Business Day immediately
      preceding such Distribution Date.

     

    Distribution
      Date:
      The
      25th day of each month, or if such day is not a Business Day, on the first
      Business Day thereafter, commencing in June 2006.

     

    Due
      Date:
      With
      respect to any Mortgage Loan and Due Period, the due date for Scheduled Payments
      of interest and/or principal on that Mortgage Loan occurring in such Due Period
      as provided in the related Mortgage Note.

     

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

     

    EDGAR:
      The
      Commission’s Electronic Data Gathering, Analysis and Retrieval
      system.

     

    Eligible
      Account:
      Any of
      (i) an account or accounts maintained with a federal or state chartered
      depository institution or trust company, the long-term unsecured debt
      obligations and 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 debt obligations of such holding company, if Moody’s is
      not a Rating Agency) are rated by each Rating Agency in one of its two highest
      long-term and its highest short-term rating categories respectively, at the
      time
      any amounts are held on deposit therein, or (ii) an account or accounts in
      a
      depository institution or trust company in which such accounts are insured
      by
      the FDIC (to the limits established by the FDIC) and the uninsured deposits
      in
      which accounts are otherwise secured such that, as evidenced by an Opinion
      of
      Counsel delivered to the Trustee and to each Rating Agency, the
      Certificateholders have a claim with respect to the funds in such account or
      a
      perfected first priority security interest against any collateral (which shall
      be limited to Permitted Investments) securing such funds that is superior to
      claims of any other depositors or creditors of the depository institution or
      trust company in which such account is maintained, or (iii) a trust account
      or
      accounts maintained with the corporate trust department of a federal or state
      chartered depository institution or trust company having capital and surplus
      of
      not less than $50,000,000, acting in its fiduciary capacity or (iv) any other
      account acceptable to the Rating Agencies without reduction or withdrawal of
      their then-current ratings of the Certificates as evidenced by a letter from
      each Rating Agency to the Trustee. Eligible Accounts may bear interest, and
      may
      include, if otherwise qualified under this definition, accounts maintained
      with
      the Trustee. 

     

    Eligible
      Repurchase Month:
      As
      defined in Section 3.12(d) hereof. 

     

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

     

    ERISA-Qualifying
      Underwriting:
      A best
      efforts or firm commitment underwriting or private placement that meets the
      applicable requirements of the Underwriter’s Exemption. 

     

    ERISA-Restricted
      Certificates:
      The
      Class A-R Certificates, Class P Certificates, Class C Certificates, Class B
      Certificates and Certificates of any Class that ceases to satisfy the applicable
      rating requirement under the Underwriter’s Exemption.

     

    Escrow
      Account:
      As
      defined in Section 3.06 hereof.

     

    Event
      of Default:
      As
      defined in Section 7.01 hereof.

     

    Excess
      Cashflow:
      With
      respect to any Distribution Date the sum of (i) the amount remaining after
      the
      distribution of interest to Certificateholders for such Distribution Date
      pursuant to Section 4.04(a)(iv)(b), (ii) the amount remaining after the
      distribution of principal to Certificateholders for such Distribution Date,
      pursuant to Section 4.04(b)(1)(B)(ii) or 4.04(b)(2)(B)(ii) and (iii) the
      Overcollateralization Reduction Amount for such Distribution Date.

     

    Excess
      Overcollateralization Amount:
      With
      respect to any Distribution Date, the excess, if any, of the Overcollateralized
      Amount for such Distribution Date over the Overcollateralization Target Amount
      for such Distribution Date.

     

    Excess
      Proceeds:
      With
      respect to any Liquidated Mortgage Loan, the amount, if any, by which the sum
      of
      any Liquidation Proceeds and Subsequent Recoveries are in excess of the sum
      of
      (i) the unpaid principal balance of such Liquidated Mortgage Loan as of the
      date
      of liquidation of such Liquidated Mortgage Loan plus (ii) interest at the
      Mortgage Rate from the Due Date as to which interest was last paid or advanced
      to Certificateholders (and not reimbursed to the Master Servicer) up to the
      Due
      Date in the month in which Liquidation Proceeds are required to be distributed
      on the Stated Principal Balance of such Liquidated Mortgage Loan outstanding
      during each Due Period as to which such interest was not paid or
      advanced.

     

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

     

    Exchange
      Act Reports:
      Any
      reports on Form 10-D, Form 8-K and Form 10-K required to be filed by the
      Depositor with respect to the Trust Fund under the Exchange Act. 

     

    Expense
      Fee Rate:
      With
      respect to any Mortgage Loan, the sum of (i) the Servicing Fee Rate, (ii) the
      Trustee Fee Rate and (iii) with respect to any Mortgage Loan covered by a
      lender-paid mortgage insurance policy, the related mortgage insurance premium
      rate.

     

    Extra
      Principal Distribution Amount:
      With
      respect to any Distribution Date and each of Loan Group 1 and Loan Group 2,
      the
      lesser of (1) the Overcollateralization Deficiency Amount and (2) the Excess
      Cashflow available for payment thereof, to be allocated between Loan Group
      1 and
      Loan Group 2, pro rata, based on the Principal Remittance Amount for each such
      Loan Group for such Distribution Date.

     

    Fannie
      Mae:
      The
      Federal National Mortgage Association, a federally chartered and privately
      owned
      corporation organized and existing under the Federal National Mortgage
      Association Charter Act, or any successor thereto.

     

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

     

    Five-Year
      Hybrid Mortgage Loan:
      A
      Mortgage Loan having a Mortgage Rate that is fixed for 60 months after
      origination thereof before such Mortgage Rate becomes subject to
      adjustment.

     

    Fixed
      Rate Mortgage Loans:
      The
      Mortgage Loans identified in the Mortgage Loan Schedule as having a Mortgage
      Rate which is fixed for the life of the related Mortgage, including in each
      case
      any Mortgage Loans delivered in replacement thereof.

     

    Form
      10-D Disclosure Item:
      With
      respect to any Person, any material litigation or governmental proceedings
      pending against such Person, or against any of the Trust Fund, the Depositor,
      the Trustee, any co-trustee, the Master Servicer or any Subservicer, if such
      Person has actual knowledge thereof.

     

    Form
      10-K Disclosure Item:
      With
      respect to any Person, (a) Form 10-D Disclosure Item, and (b) any affiliations
      or relationships between such Person and any Item 1119 Party.

     

    Freddie
      Mac:
      The
      Federal Home Loan Mortgage Corporation, a corporate instrumentality of the
      United States created and existing under Title III of the Emergency Home Finance
      Act of 1970, as amended, or any successor thereto.

     

    Funding
      Period:
      The
      period from the Closing Date to and including the earlier to occur of (x) the
      date the amount in the Pre-Funding Account is less than $125,000 and (y) July
      28, 2006.

     

    Gross
      Margin:
      The
      percentage set forth in the related Mortgage Note to be added to the Index
      for
      use in determining the Mortgage Rate for each Adjustable Rate Mortgage Loan
      on
      each of its Adjustment Dates.

     

    Group
      1 Mortgage Loans:
      The
      group of Mortgage Loans identified in the related Mortgage Loan Schedule as
      “Group 1 Mortgage Loans”, including in each case any Mortgage Loans delivered in
      replacement thereof.

     

    Group
      1 Overcollateralization Reduction Amount:
      With
      respect to any Distribution Date, the Overcollateralization Reduction Amount
      for
      such Distribution Date multiplied by a fraction, the numerator of which is
      (x)
      the Principal Remittance Amount for Loan Group 1 for such Distribution Date,
      and
      the denominator of which is (y) the aggregate Principal Remittance Amount for
      Loan Group 1 and Loan Group 2 for such Distribution Date.

     

    Group
      1 Pre-Funded Amount:
      The
      portion of the Pre-Funded Amount allocable for purchase of Subsequent Mortgage
      Loans as Group 1 Mortgage Loans on the Closing Date, which shall equal
      $0.

     

    Group
      2 Mortgage Loans:
      The
      group of Mortgage Loans identified in the related Mortgage Loan Schedule as
      “Group 2 Mortgage Loans”, including in each case any Mortgage Loans delivered in
      replacement thereof.

     

    Group
      2 Overcollateralization Reduction Amount:
      With
      respect to any Distribution Date, the Overcollateralization Reduction Amount
      for
      such Distribution Date multiplied by a fraction, the numerator of which is
      the
      Principal Remittance Amount for Loan Group 2 for such Distribution Date, and
      the
      denominator of which is the aggregate Principal Remittance Amount for Loan
      Group
      1 and Loan Group 2 for such Distribution Date.

     

    Group
      2 Pre-Funded Amount:
      The
      portion of the Pre-Funded Amount allocable for purchase of Subsequent Mortgage
      Loans as Group 2 Mortgage Loans on the Closing Date, which shall equal
      $0.

     

    Index:
      As to
      any Adjustable Rate Mortgage Loan on any Adjustment Date related thereto, the
      index for the adjustment of the Mortgage Rate set forth as such in the related
      Mortgage Note, such index in general being the average of the London interbank
      offered rates for six-month U.S. dollar deposits in the London market, as set
      forth in The
      Wall Street Journal,
      as most
      recently announced as of a date 45 days prior to such Adjustment Date or, if
      the
      Index ceases to be published in The
      Wall Street Journal
      or
      becomes unavailable for any reason, then the Index shall be a new index selected
      by the Master Servicer, based on comparable information.

     

    Initial
      Adjustment Date:
      As to
      any Adjustable Rate Mortgage Loan, the first Adjustment Date following the
      origination of such Mortgage Loan.

     

    Initial
      Certificate Account Deposit:
      An
      amount equal to the aggregate of all amounts in respect of (i) principal of
      the
      Initial Mortgage Loans due after the Initial Cut-off Date and received by the
      Master Servicer before the Closing Date and not applied in computing the Cut-off
      Date Principal Balance thereof and (ii) interest on the Initial Mortgage Loans
      due after the Initial Cut-off Date and received by the Master Servicer before
      the Closing Date.

     

    Initial
      Certificate Principal Balance:
      With
      respect to any Certificate (other than the Class C Certificates) the Certificate
      Principal Balance of such Certificate or any predecessor Certificate on the
      Closing Date.

     

    Initial
      Cut-off Date:
      In the
      case of any Initial Mortgage Loan, the later of (x) May 1, 2006 and (y) the
      date
      of origination of such Mortgage Loan. 

     

    Initial
      Mortgage Loan:
      A
      Mortgage Loan conveyed to the Trustee on the Closing Date pursuant to this
      Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee
      on the Closing Date.

     

    Initial
      Mortgage Rate:
      As to
      each Adjustable Rate Mortgage Loan, the Mortgage Rate in effect prior to the
      Initial Adjustment Date.

     

    Initial
      Periodic Rate Cap:
      With
      respect to each Adjustable Rate Mortgage Loan, the percentage specified in
      the
      related Mortgage Note that limits the permissible increase or decrease in the
      Mortgage Rate on its initial Adjustment Date.

     

    Insurance
      Policy:
      With
      respect to any Mortgage Loan included in the Trust Fund, any insurance policy,
      including all riders and endorsements thereto in effect with respect to such
      Mortgage Loan, including any replacement policy or policies for any Insurance
      Policy.

     

    Insurance
      Proceeds:
      Proceeds paid in respect of the Mortgage Loans pursuant to any Insurance Policy
      or any other insurance policy covering a Mortgage Loan, to the extent such
      proceeds are payable to the mortgagee under the Mortgage, the Master Servicer
      or
      the trustee under the deed of trust and are not applied to the restoration
      of
      the related Mortgaged Property or released to the Mortgagor in accordance with
      the procedures that the Master Servicer would follow in servicing mortgage
      loans
      held for its own account, in each case other than any amount included in such
      Insurance Proceeds in respect of Insured Expenses and received either prior
      to
      or in connection with such Mortgage Loan becoming a Liquidated Mortgage
      Loan.

     

    Insured
      Expenses:
      Expenses covered by an Insurance Policy or any other insurance policy with
      respect to the Mortgage Loans.

     

    Interest-Bearing
      Certificates:
      The
      Class A Certificates and the Subordinate Certificates.

     

    Interest
      Carry Forward Amount:
      With
      respect to each Class of Interest-Bearing Certificates and each Distribution
      Date, the excess of (i) the Current Interest for such Class with respect to
      prior Distribution Dates over (ii) the amount actually distributed to such
      Class
      with respect to interest on such prior Distribution Dates.

     

    Interest
      Determination Date:
       With
      respect to the first Accrual Period for the Interest-Bearing Certificates,
      and
      solely for purposes of calculating the Marker Rate, REMIC
      2
      Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular
      Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2 Regular Interest
      LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC
      2
      Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest
      LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC
      2
      Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9 and REMIC 2 Regular
      Interest LT-B,
      May 25,
      2006. With respect to any Accrual Period for the Interest-Bearing Certificates,
      and solely for purposes of calculating the Marker Rate, the REMIC 2 Regular
      Interests listed in the previous sentence, the second LIBOR Business Day
      preceding the commencement of such Accrual Period.

     

    Interest
      Funds:
      With
      respect to any Distribution Date and Loan Group, the Interest Remittance Amount
      for such Loan Group and Distribution Date, less the portion of the Trustee
      Fee
      for such Distribution Date allocable to such Loan Group, plus the Adjusted
      Replacement Upfront Amount, if any, allocable to that Loan Group.

     

    Interest
      Remittance Amount:
      With
      respect to the Mortgage Loans in each Loan Group and any Distribution Date,
      (x)
      the sum, without duplication, of (i) all scheduled interest collected during
      the
      related Due Period with respect to the related Mortgage Loans less the related
      Servicing Fee, (ii) all interest on prepayments received during the related
      Prepayment Period with respect to such Mortgage Loans, other than Prepayment
      Interest Excess, (iii) all related Advances relating to interest with respect
      to
      such Mortgage Loans, (iv) all related Compensating Interest with respect to
      such
      Mortgage Loans, (v) Liquidation Proceeds with respect to such Mortgage Loans
      collected during the related Due Period (to the extent such Liquidation Proceeds
      relate to interest) and (vi) the related Seller Shortfall Interest Requirement,
      less (y) all reimbursements to the Master Servicer during the related Due Period
      for Advances of interest previously made allocable to such Loan
      Group.

     

    Investment
      Letter:
      As
      defined in Section 5.02(b).

     

    Item
      1119 Party:
      The
      Depositor, any Seller, the Master Servicer, the Trustee, any Subservicer, any
      originator identified in the Prospectus Supplement, the Swap Counterparty and
      any other material transaction party, as identified in Exhibit Z hereto, as
      updated pursuant to Section 11.04.

     

    Latest
      Possible Maturity Date:
      The
      Distribution Date following the third anniversary of the scheduled maturity
      date
      of the Mortgage Loan having the latest scheduled maturity date as of the Cut-off
      Date.

     

    LIBOR
      Business Day:
      Any day
      on which banks in the City of London, England and New York City, U.S.A. are
      open
      and conducting transactions in foreign currency and exchange.

     

    Limited
      Exchange Act Reporting Obligations:
      The
      obligations of the Master Servicer under Section 3.17(b), Section 6.02 and
      Section 6.04 with respect to notice and information to be provided to the
      Depositor and Article XI (except Section 11.07(a)(1) and (2)).

     

    Liquidated
      Mortgage Loan:
      With
      respect to any Distribution Date, a defaulted Mortgage Loan that has been
      liquidated through deed-in-lieu of foreclosure, foreclosure sale, trustee’s sale
      or other realization as provided by applicable law governing the real property
      subject to the related Mortgage and any security agreements and as to which
      the
      Master Servicer has certified in the related Prepayment Period that it has
      received all amounts it expects to receive in connection with such
      liquidation.

     

    Liquidation
      Proceeds:
      Amounts, including Insurance Proceeds, received in connection with the partial
      or complete liquidation of Mortgage Loans, whether through trustee’s sale,
      foreclosure sale or otherwise or amounts received in connection with any
      condemnation or partial release of a Mortgaged Property and any other proceeds
      received in connection with an REO Property received in connection with or
      prior
      to such Mortgage Loan becoming a Liquidated Mortgage Loan (other than the amount
      of such net proceeds representing any profit realized by the Master Servicer
      in
      connection with the disposition of any such properties), less the sum of related
      unreimbursed Advances, Servicing Fees and Servicing Advances. 

     

    Loan
      Group:
      Either
      of Loan Group 1 or Loan Group 2.

     

    Loan
      Group 1:
      The
      Group 1 Mortgage Loans.

     

    Loan
      Group 2:
      The
      Group 2 Mortgage Loans.

     

    Loan
      Number and Borrower Identification Mortgage Loan Schedule:
      With
      respect to any Subsequent Transfer Date, the Loan Number and Borrower
      Identification Mortgage Loan Schedule delivered in connection with such
      Subsequent Transfer Date pursuant to Section 2.01(f). Each Loan Number and
      Borrower Identification Mortgage Loan Schedule shall contain the information
      specified in the definition of “Mortgage Loan Schedule” with respect to the
      Subsequent Mortgage Loans conveyed on such Subsequent Transfer Date, and each
      Loan Number and Borrower Identification Mortgage Loan Schedule shall be deemed
      to be included in the Mortgage Loan Schedule.

     

    Loan-to-Value
      Ratio:
      The
      fraction, expressed as a percentage, the numerator of which is the original
      principal balance of the related Mortgage Loan and the denominator of which
      is
      the Appraised Value of the related Mortgaged Property.

     

    Majority
      Holder:
      The
      Holders of Certificates evidencing at least 51% of the Voting Rights allocated
      to such Class of Certificates.

     

    Marker
      Rate:
      With
      respect to the Class C Certificates and any Distribution Date, a per annum
      rate
      equal to two (2) times the weighted average of the REMIC 2 Remittance Rate
      for
REMIC
      2
      Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular
      Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2 Regular Interest
      LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC
      2
      Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest
      LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC
      2
      Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9, REMIC 2 Regular Interest
      LT-B and
      REMIC
      2 Regular Interest LT-ZZ, with the rate on each such REMIC 2 Regular Interest
      (other than REMIC 2 Regular Interest LT-ZZ) subject to the lesser of (i)
      One-Month LIBOR plus the related Margin and (ii) the related Net Rate Cap for
      the purpose of this calculation for such Distribution Date and with the rate
      on
      REMIC 2 Regular Interest LT-ZZ subject to a cap of zero for the purpose of
      this
      calculation; provided, however, that solely for this purpose, calculations
      of
      the REMIC 2 Remittance Rate and the related caps with respect to REMIC 2 Regular
      Interest LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular Interest
      LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2 Regular Interest LT-2A4, REMIC
      2 Regular Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC 2 Regular
      Interest LT-M3, REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest LT-M5,
      REMIC 2 Regular Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC 2 Regular
      Interest LT-M8, REMIC 2 Regular Interest LT-M9 and REMIC 2 Regular Interest
      LT-B
      shall be multiplied by a fraction, the numerator of which is the actual number
      of days in the Interest Accrual Period and the denominator of which is
      30.

     

    Margin:
      With
      respect to any Accrual Period and Class of Interest-Bearing Certificates, the
      per annum rate indicated in the following table:

     

    
      	
              Class

            	
              Margin
                (1)

            	
              Margin
                (2)

            
	
              Class
                1-A

            	
              0.170%

            	
              0.340%

            
	
              Class
                2-A-1

            	
              0.040%

            	
              0.080%

            
	
              Class
                2-A-2

            	
              0.100%

            	
              0.200%

            
	
              Class
                2-A-3

            	
              0.150%

            	
              0.300%

            
	
              Class
                2-A-4

            	
              0.250%

            	
              0.500%

            
	
              Class
                M-1

            	
              0.280%

            	
              0.420%

            
	
              Class
                M-2

            	
              0.290%

            	
              0.435%

            
	
              Class
                M-3

            	
              0.300%

            	
              0.450%

            
	
              Class
                M-4

            	
              0.370%

            	
              0.555%

            
	
              Class
                M-5

            	
              0.380%

            	
              0.570%

            
	
              Class
                M-6

            	
              0.470%

            	
              0.705%

            
	
              Class
                M-7

            	
              0.900%

            	
              1.350%

            
	
              Class
                M-8

            	
              1.050%

            	
              1.575%

            
	
              Class
                M-9

            	
              1.870%

            	
              2.805%

            
	
              Class
                B

            	
              2.000%

            	
              3.000%

            

    

    

    
      	
              (1)
                

            	
              For
                any Accrual Period relating to any Distribution Date occurring on
                or prior
                to the Optional Termination Date.

            

    

    
      	
              (2)
                

            	
              For
                any Accrual Period relating to any Distribution Date occurring after
                the
                Optional Termination Date.

            

    

     

    Master
      Servicer:
      Countrywide Home Loans Servicing LP, a Texas limited partnership, and its
      successors and assigns, in its capacity as master servicer
      hereunder.

     

    Master
      Servicer Advance Date:
      As to
      any Distribution Date, the Business Day immediately preceding such Distribution
      Date.

     

    Master
      Servicer Prepayment Charge Payment Amount:
      The
      amounts (i) payable by the Master Servicer in respect of any Prepayment Charges
      waived other than in accordance with the standard set forth in the first
      sentence of Section 3.20(a), or (ii) collected from the Master Servicer in
      respect of a remedy for the breach of the representation made by CHL set forth
      in Section 3.20(c).

     

    Maximum
      LT-ZZ Uncertificated Interest Deferral Amount:
      With
      respect to any Distribution Date, the excess of (i) accrued interest at the
      REMIC 2 Remittance Rate applicable to REMIC 2 Regular Interest LT-ZZ for such
      Distribution Date on a balance equal to the Uncertificated Principal Balance
      of
      REMIC 2 Regular Interest LT-ZZ minus the REMIC 2 Overcollateralization Amount,
      in each case for such Distribution Date, over (ii) the Uncertificated Interest
      on REMIC 2 Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2
      Regular Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2 Regular
      Interest LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular Interest LT-M2,
      REMIC 2 Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4, REMIC 2 Regular
      Interest LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular Interest LT-M7,
      REMIC 2 Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9 and REMIC 2
      Regular Interest LT-B for such Distribution Date, with the rate on each such
      REMIC 2 Regular Interest subject to a cap equal to the lesser of (i) One-Month
      LIBOR plus the related Certificate Margin and (ii) the related Pass-Through
      Rate; provided, however, that solely for this purpose, calculations of the
      REMIC
      2 Remittance Rate and the related caps with respect to each such REMIC 2 Regular
      Interest (other than REMIC 2 Regular Interest LT-ZZ) shall be multiplied by
      a
      fraction, the numerator of which is the actual number of days in the Interest
      Accrual Period and the denominator of which is 30.

     

    Maximum
      Mortgage Rate:
      With
      respect to each Adjustable Rate Mortgage Loan, the maximum rate of interest
      set
      forth as such in the related Mortgage Note.

     

    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.

     

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

     

    Minimum
      Mortgage Rate:
      With
      respect to each Adjustable Rate Mortgage Loan, the minimum rate of interest
      set
      forth as such in the related Mortgage Note.

     

    Modified
      Mortgage Loan:
      As
      defined in Section 3.12(a).

     

    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
      Statement:
      The
      statement delivered to the Certificateholders pursuant to Section
      4.05.

     

    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 ownership interest in an estate in fee simple in real 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 delivered to the Trustee to be added
      to the Mortgage File pursuant to this Agreement.

     

    Mortgage
      Loan Schedule:
      The
      list of Mortgage Loans (as from time to time amended by the Master Servicer
      to
      reflect the deletion of Liquidated Mortgage Loans and Deleted Mortgage Loans
      and
      the addition of (x) Replacement Mortgage Loans pursuant to the provisions of
      this Agreement and (y) Subsequent Mortgage Loans pursuant to the provisions
      of
      this Agreement and any Subsequent Transfer Agreement) transferred to the Trustee
      as part of the Trust Fund and from time to time subject to this Agreement,
      attached hereto as Exhibit F-1, setting forth in the following information
      with
      respect to each Mortgage Loan:

     

    (i) the
      loan
      number;

     

    (ii) the
      Loan
      Group;

     

    (iii) the
      Appraised Value;

     

    (iv) the
      Initial Mortgage Rate;

     

    (v) the
      maturity date;

     

    (vi) the
      original principal balance;

     

    (vii) the
      Cut-off Date Principal Balance;

     

    (viii) the
      first
      payment date of the Mortgage Loan;

     

    (ix) the
      Scheduled Payment in effect as of the Cut-off Date;

     

    (x) the
      Loan-to-Value Ratio at origination;

     

    (xi) a
      code
      indicating whether the residential dwelling at the time of origination was
      represented to be owner-occupied;

     

    (xii) a
      code
      indicating whether the residential dwelling is either (a) a detached
      single-family dwelling, (b) a two-family residential property, (c) a
      three-family residential property, (d) a four-family residential property,
      (e)
      planned unit development, (f) a low-rise condominium unit, (g) a high-rise
      condominium unit or (h) manufactured housing;

     

    
      	 	
              (xiii)

            	
              [reserved];

            

    

     

    
      	 	
              (xiv)

            	
              the
                purpose of the Mortgage Loan;

            

    

     

    
      	 	
              (xv)

            	
              with
                respect to each Adjustable Rate Mortgage
                Loan:

            

    

     

    (a) the
      frequency of each Adjustment Date;

     

    (b) the
      next
      Adjustment Date;

     

    (c) the
      Maximum Mortgage Rate;

     

    (d) the
      Minimum Mortgage Rate;

     

    (e) the
      Mortgage Rate as of the Cut-off Date;

     

    (f) the
      related Initial Periodic Rate Cap and Subsequent Periodic Rate Cap;
      and

     

    (g) the
      Gross
      Margin;

     

    
      	 	
              (xvi)

            	
              a
                code indicating whether the Mortgage Loan is a CHL Mortgage Loan,
                a Park
                Monaco Mortgage Loan, a Park Granada Mortgage Loan or a Park Sienna
                Mortgage Loan;

            

    

     

    
      	 	
              (xvii)

            	
              the
                premium rate for any lender-paid mortgage insurance, if applicable;
                and

            

    

     

    
      	 	
              (xviii)

            	
              a
                code indicating whether the Mortgage Loan is a Fixed Rate Mortgage
                Loan or
                an Adjustable Rate Mortgage Loan.

            

    

     

    Such
      schedule shall also set forth the total of the amounts described under (vii)
      above for all of the Mortgage Loans and for each Loan Group. The Mortgage Loan
      Schedule shall be deemed to include each Loan Number and Borrower Identification
      Mortgage Loan Schedule delivered pursuant to Section 2.01(f) and all the related
      Subsequent Mortgage Loans and Subsequent Mortgage Loan information included
      therein.

     

    Mortgage
      Loans:
      Such of
      the mortgage loans transferred and assigned to the Trustee pursuant to the
      provisions hereof and any Subsequent Transfer Agreement as from time to time
      are
      held as part of the Trust Fund (including any REO Property), the mortgage loans
      so held being identified in the Mortgage Loan Schedule, notwithstanding
      foreclosure or other acquisition of title of the related Mortgaged Property.
      Any
      mortgage loan that was intended by the parties hereto to be transferred to
      the
      Trust Fund as indicated by such Mortgage Loan Schedule which is in fact not
      so
      transferred for any reason, including a breach of the representation contained
      in Section 2.02 hereof, shall continue to be a Mortgage Loan hereunder until
      the
      Purchase Price with respect thereto has been paid to the Trust
      Fund.

     

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

     

    Mortgage
      Pool:
      The
      aggregate of the Mortgage Loans identified in the Mortgage Loan
      Schedule.

     

    Mortgage
      Rate:
      The
      annual rate of interest borne by a Mortgage Note from time to time.

     

    Mortgaged
      Property:
      The
      underlying property securing a Mortgage Loan.

     

    Mortgagor:
      The
      obligors on a Mortgage Note.

     

    Net
      Mortgage Rate:
      As to
      each Mortgage Loan, and at any time, the per annum rate equal to the Mortgage
      Rate less the Servicing Fee Rate. 

     

    Net
      Rate Cap:
      With
      respect to any Distribution Date and (i) the Class 1-A Certificates, the Class
      1-A Net Rate Cap, (ii) each Class of Class 2-A Certificates, the Class 2-A
      Net
      Rate Cap and (iii) each Class of Subordinate Certificates, the Subordinate
      Net
      Rate Cap.

     

    Net
      Rate Carryover:
      With
      respect to any Class of Interest-Bearing Certificates and any Distribution
      Date,
      the sum of (A) the excess of (i) the amount of interest that such Class would
      otherwise have accrued for such Distribution Date had the Pass-Through Rate
      for
      such Class and the related Accrual Period not been determined based on the
      applicable Net Rate Cap, over (ii) the amount of interest accrued on such Class
      at the applicable Net Rate Cap for such Distribution Date and (B) the Net Rate
      Carryover for such Class for all previous Distribution Dates not previously
      paid
      pursuant to Section 4.04, together with interest thereon at the then-applicable
      Pass-Through Rate for such Class, without giving effect to the applicable Net
      Rate Cap.

     

    Net
      Swap Payment:
      With
      respect to any Distribution Date and payment by the Swap Contract Administrator
      to the Swap Counterparty, the excess, if any, of the “Fixed Amount” (as defined
      in the Swap Contract) with respect to such Distribution Date over the “Floating
      Amount” (as defined in the Swap Contract) with respect to such Distribution
      Date. With respect to any Distribution Date and payment by the Swap Counterparty
      to the Swap Contract Administrator, the excess, if any, of the “Floating Amount”
(as defined in the Swap Contract) with respect to such Distribution Date over
      the “Fixed Amount” (as defined in the Swap Contract) with respect to such
      Distribution Date

     

    NIM
      Insurer:
      Any
      insurer guarantying at the request of CHL certain payments under notes backed
      or
      secured by the Class C or Class P Certificates.

     

    Nonrecoverable
      Advance:
      Any
      portion of an Advance previously made or proposed to be made by the Master
      Servicer that, in the good faith judgment of the Master Servicer, will not
      or,
      in the case of a current delinquency, would not, be ultimately recoverable
      by
      the Master Servicer from the related Mortgagor, related Liquidation Proceeds
      or
      otherwise.

     

    Non-United
      States Person:
      A
      Person that is not a citizen or resident of the United States, a corporation,
      partnership, or other entity (treated as a corporation or a partnership for
      federal income tax purposes) created or organized in or under the laws of the
      United States, any state thereof or the District of Columbia, an estate whose
      income from sources without the United States is includible in gross income
      for
      United States federal income tax purposes regardless of its connection with
      the
      conduct of a trade or business within the United States, or a trust if a court
      within the United States is able to exercise primary supervision over the
      administration of the trust and one or more United States persons have authority
      to control all substantial decisions of the trustor.

     

    OC
      Floor:
      With
      respect to any Distribution Date, an amount equal to 0.50% of the sum of the
      aggregate Cut-off Date Principal Balance of the Initial Mortgage Loans and
      the
      Pre-Funded Amount.

     

    
      Offered
        Certificates:
        The
        Class A, Class M and Class A-R Certificates.

       

    

    Officer’s
      Certificate:
      A
      certificate (i) in the case of the Depositor, signed by the Chairman of the
      Board, the Vice Chairman of the Board, the President, a Managing Director,
      a
      Vice President (however denominated), an Assistant Vice President, the
      Treasurer, the Secretary, or one of the Assistant Treasurers or Assistant
      Secretaries of the Depositor, (ii) in the case of the Master Servicer, signed
      by
      the President, an Executive Vice President, a Vice President, an Assistant
      Vice
      President, the Treasurer, or one of the Assistant Treasurers or Assistant
      Secretaries of Countrywide GP, Inc., its general partner, (iii) if provided
      for
      in this Agreement, signed by a Servicing Officer, as the case may be, and
      delivered to the Depositor and the Trustee, as the case may be, as required
      by
      this Agreement, or (iv) in the case of any other Person, signed by an authorized
      officer of such Person.

     

    One-Month
      LIBOR:
      With
      respect to any Accrual Period for the Interest-Bearing Certificates, the rate
      determined by the Trustee on the related Interest Determination Date on the
      basis of the rate for U.S. dollar deposits for one month as quoted on the
      Bloomberg Terminal on such Interest Determination Date; provided that the
      parties hereto acknowledge that One-Month LIBOR calculated for the first Accrual
      Period for the Interest-Bearing Certificates shall equal 5.09063% per annum.
      If
      such rate is not quoted on the Bloomberg Terminal (or if such service is no
      longer offered, such other service for displaying One-Month LIBOR or comparable
      rates as may be reasonably selected by the Trustee), One-Month LIBOR for the
      applicable Accrual Period for the Interest-Bearing Certificates will be the
      Reference Bank Rate. If no such quotations can be obtained by the Trustee and
      no
      Reference Bank Rate is available, One-Month LIBOR will be One-Month LIBOR
      applicable to the preceding Accrual Period for the Interest-Bearing
      Certificates.

     

    One-Year
      Hybrid Mortgage Loan:
      A
      Mortgage Loan having a Mortgage Rate that is fixed for 12 months after
      origination thereof before such Mortgage Rate becomes subject to
      adjustment.

     

    Opinion
      of Counsel:
      A
      written opinion of counsel, who may be counsel for the Depositor or the Master
      Servicer, reasonably acceptable to each addressee of such opinion; provided
      that
      with respect to Section 6.04 or 10.01, or the interpretation or application
      of
      the REMIC Provisions, such counsel must (i) in fact be independent of the
      Depositor and the Master Servicer, (ii) not have any direct financial interest
      in the Depositor or the Master Servicer or in any affiliate of either and (iii)
      not be connected with the Depositor or the Master Servicer as an officer,
      employee, promoter, underwriter, trustee, partner, director or person performing
      similar functions.

     

    Optional
      Termination:
      The
      termination of the Trust Fund provided hereunder pursuant to the purchase of
      the
      Mortgage Loans pursuant to clause (a) of the first sentence of Section 9.01
      hereof.

     

    Optional
      Termination Date:
      The
      first Distribution Date on which the aggregate Stated Principal Balance of
      the
      Mortgage Loans is less than or equal to 10% of the sum of the aggregate Cut-off
      Date Principal Balance of the Initial Mortgage Loans and the Pre-Funded
      Amount.

     

    Original
      Value:
      The
      value of the property underlying a Mortgage Loan based, in the case of the
      purchase of the underlying Mortgaged Property, on the lower of an appraisal
      satisfactory to the Master Servicer or the sales price of such property or,
      in
      the case of a refinancing, on an appraisal satisfactory to the Master
      Servicer.

     

    OTS:
      The
      Office of Thrift Supervision.

     

    Outstanding:
      With
      respect to the Certificates as of any date of determination, all Certificates
      theretofore executed and authenticated under this Agreement except:

     

    (i) Certificates
      theretofore canceled by the Trustee or delivered to the Trustee for
      cancellation; and

     

    (ii) Certificates
      in exchange for which or in lieu of which other Certificates have been executed
      and delivered by the Trustee pursuant to this Agreement.

     

    Outstanding
      Mortgage Loan:
      As of
      any Distribution Date, a Mortgage Loan with a Stated Principal Balance greater
      than zero that was not the subject of a Principal Prepayment in full, and that
      did not become a Liquidated Mortgage Loan, prior to the end of the related
      Prepayment Period.

     

    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 (after giving effect to distribution of the Principal
      Distribution Amount (other than the portion thereof consisting of the Extra
      Principal Distribution Amount) on such Distribution Date).

     

    Overcollateralization
      Reduction Amount:
      With
      respect to any Distribution Date, an amount equal to the lesser of (i) the
      Excess Overcollateralization Amount for such Distribution Date and (ii) the
      aggregate Principal Remittance Amount for Loan Group 1 and Loan Group 2 for
      such
      Distribution Date.

     

    Overcollateralization
      Target Amount:
      With
      respect to any Distribution Date (a) prior to the Stepdown Date, an amount
      equal
      to 2.00% of the sum of the aggregate Cut-off Date Principal Balance of the
      Initial Mortgage Loans and the Pre-Funded Amount and (b) on or after the
      Stepdown Date, the greater of (i) an amount equal to 4.00% of the aggregate
      Stated Principal Balance of the Mortgage Loans for the current Distribution
      Date
      and (ii) the OC Floor; provided, however, that if a Trigger Event is in effect
      on any Distribution Date, the Overcollateralization Target Amount will be the
      Overcollateralization Target Amount as in effect for the prior Distribution
      Date.

     

    Overcollateralized
      Amount:
      With
      respect to any Distribution Date, the amount, if any, by which (x) the sum
      of
      the aggregate Stated Principal Balance of the Mortgage Loans for such
      Distribution Date and any amount on deposit in the Pre-Funding Account exceeds
      (y) the aggregate Certificate Principal Balance of the Interest-Bearing
      Certificates as of such Distribution Date (after giving effect to distribution
      of the Principal Remittance Amounts to be made on such Distribution Date and,
      in
      the case of the Distribution Date immediately following the end of the Funding
      Period, any amounts to be released from the Pre-Funding Account).

     

    Ownership
      Interest:
      As to
      any Certificate, any ownership 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.

     

    Park
      Granada:
      Park
      Granada LLC, a Delaware limited liability company, and its successors and
      assigns.

     

    Park
      Granada Mortgage Loans:
      The
      Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park
      Granada is the applicable Seller.

     

    Park
      Monaco:
      Park
      Monaco Inc., a Delaware corporation, and its successors and
      assigns.

     

    Park
      Monaco Mortgage Loans:
      The
      Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park
      Monaco is the applicable Seller.

     

    Park
      Sienna:
      Park
      Sienna LLC, a Delaware limited liability company, and its successors and
      assigns.

     

    Park
      Sienna Mortgage Loans:
      The
      Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park
      Sienna is the applicable Seller.

     

    Pass-Through
      Rate:
      With
      respect to any Accrual Period and each Class of Interest-Bearing Certificates
      the lesser of (x) One-Month LIBOR for such Accrual Period plus the Margin for
      such Class and Accrual Period and (y) the applicable Net Rate Cap for such
      Class
      and the related Distribution Date.

     

    With
      respect to the Class C Certificate and any Distribution Date, a rate per annum
      equal to the percentage equivalent of a fraction, the numerator of which is
      (x)
      the sum of (i) 100% of the interest on REMIC 2 Regular Interest LT-P and REMIC
      2
      Regular Interest LT-AR and (ii) interest on the Uncertificated Principal Balance
      of each REMIC 2 Regular Interest listed in clause (y) at a rate equal to the
      related REMIC 2 Remittance Rate minus the Marker Rate and the denominator of
      which is (y) the aggregate Uncertificated Principal Balance of REMIC 2 Regular
      Interest LT-AA, REMIC 2 Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1,
      REMIC 2 Regular Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2
      Regular Interest LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular
      Interest LT-M2, REMIC 2 Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4,
      REMIC 2 Regular Interest LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular
      Interest LT-M7, REMIC 2 Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9,
      REMIC 2 Regular Interest LT-B and REMIC 2 Regular Interest LT-ZZ.

     

    With
      respect to the Class SWAP-IO Interest, the Class SWAP-IO Interest shall not
      have
      a Pass-Through Rate, but interest for such Regular Interest and each
      Distribution Date shall be an amount equal to 100% of the amounts distributable
      to REMIC 2 Regular Interest II-IO for such Distribution Date.

     

    Percentage
      Interest:
      With
      respect to any Interest-Bearing Certificate, a fraction, expressed as a
      percentage, the numerator of which is the Certificate Principal Balance
      represented by such Certificate and the denominator of which is the aggregate
      Certificate Principal Balance of the related Class. With respect to the Class
      C,
      Class P and Class A-R Certificates, the portion of the Class evidenced thereby,
      expressed as a percentage, as stated on the face of such
      Certificate.

     

    Performance
      Certification:
      As
      defined in Section 11.05.

     

    Permitted
      Investments:
      At any
      time, any one or more of the following obligations and securities:

     

    (i) obligations
      of the United States or any agency thereof, provided such obligations are backed
      by the full faith and credit of the United States;

     

    (ii) general
      obligations of or obligations guaranteed by any state of the United States
      or
      the District of Columbia receiving the highest long-term debt rating of each
      Rating Agency, or such lower rating as each Rating Agency has confirmed in
      writing is sufficient for the ratings originally assigned to the Certificates
      by
      such Rating Agency;

     

    (iii) commercial
      or finance company paper which is then receiving the highest commercial or
      finance company paper rating of each Rating Agency, or such lower rating as
      each
      Rating Agency has confirmed in writing is sufficient for the ratings originally
      assigned to the Certificates by such Rating Agency;

     

    (iv) certificates
      of deposit, demand or time deposits, or bankers’ acceptances issued by any
      depository institution or trust company incorporated under the laws of the
      United States or of any state thereof and subject to supervision and examination
      by federal and/or state banking authorities, provided that the commercial paper
      and/or long term unsecured debt obligations of such depository institution
      or
      trust company (or in the case of the principal depository institution in a
      holding company system, the commercial paper or long-term unsecured debt
      obligations of such holding company, but only if Moody’s is not a Rating Agency)
      are then rated one of the two highest long-term and the highest short-term
      ratings of each such Rating Agency for such securities, or such lower ratings
      as
      each Rating Agency has confirmed in writing is sufficient for the ratings
      originally assigned to the Certificates by such Rating Agency;

     

    (v) repurchase
      obligations with respect to any security described in clauses (i) and (ii)
      above, in either case entered into with a depository institution or trust
      company (acting as principal) described in clause (iv) above;

     

    (vi) securities
      (other than stripped bonds, stripped coupons or instruments sold at a purchase
      price in excess of 115% of the face amount thereof) bearing interest or sold
      at
      a discount issued by any corporation incorporated under the laws of the United
      States or any state thereof which, at the time of such investment, have one
      of
      the two highest long term ratings of each Rating Agency (except (x) if the
      Rating Agency is Moody’s, such rating shall be the highest commercial paper
      rating of S&P for any such securities) and (y), or such lower rating as each
      Rating Agency has confirmed in writing is sufficient for the ratings originally
      assigned to the Certificates by such Rating Agency;

     

    (vii) interests
      in any money market fund which at the date of acquisition of the interests
      in
      such fund and throughout the time such interests are held in such fund has
      the
      highest applicable long term rating by each Rating Agency or such lower rating
      as each Rating Agency has confirmed in writing is sufficient for the ratings
      originally assigned to the Certificates by such Rating Agency;

     

    (viii) short
      term investment funds sponsored by any trust company or national banking
      association incorporated under the laws of the United States or any state
      thereof which on the date of acquisition has been rated by each Rating Agency
      in
      their respective highest applicable rating category or such lower rating as
      each
      Rating Agency has confirmed in writing is sufficient for the ratings originally
      assigned to the Certificates by such Rating Agency; and

     

    (ix) such
      other relatively risk free investments having a specified stated maturity and
      bearing interest or sold at a discount acceptable to each Rating Agency as
      will
      not result in the downgrading or withdrawal of the rating then assigned to
      the
      Certificates by any Rating Agency, as evidenced by a signed writing delivered
      by
      each Rating Agency, and reasonably acceptable to the NIM Insurer, as evidenced
      by a signed writing delivered by the NIM Insurer;

     

    provided,
      that no such instrument shall be a Permitted Investment if such instrument
      (i)
      evidences the right to receive interest only payments with respect to the
      obligations underlying such instrument, (ii) is purchased at a premium or (iii)
      is purchased at a deep discount; provided further that no such instrument shall
      be a Permitted Investment (A) if such instrument evidences principal and
      interest payments derived from obligations underlying such instrument and the
      interest payments with respect to such instrument provide a yield to maturity
      of
      greater than 120% of the yield to maturity at par of such underlying
      obligations, or (B) if it may be redeemed at a price below the purchase price
      (the foregoing clause (B) not to apply to investments in units of money market
      funds pursuant to clause (vii) above); provided further that no amount
      beneficially owned by any REMIC (including, without limitation, any amounts
      collected by the Master Servicer but not yet deposited in the Certificate
      Account) may be invested in investments (other than money market funds) treated
      as equity interests for Federal income tax purposes, unless the Master Servicer
      shall receive an Opinion of Counsel, at the expense of Master Servicer, to
      the
      effect that such investment will not adversely affect the status of any such
      REMIC as a REMIC under the Code or result in imposition of a tax on any such
      REMIC. Permitted Investments that are subject to prepayment or call may not
      be
      purchased at a price in excess of par.

     

    Permitted
      Transferee:
      Any
      Person other than (i) the United States, any State or political subdivision
      thereof, or any agency or instrumentality of any of the foregoing, (ii) a
      foreign government, International Organization or any agency or instrumentality
      of either of the foregoing, (iii) an organization (except certain farmers’
cooperatives described in section 521 of the Code) that is exempt from tax
      imposed by Chapter 1 of the Code (including the tax imposed by section 511
      of
      the Code on unrelated business taxable income) on any excess inclusions (as
      defined in section 860E(c)(1) of the Code) with respect to any Class A-R
      Certificate, (iv) rural electric and telephone cooperatives described in section
      1381(a)(2)(C) of the Code, (v) an “electing large partnership” as defined in
      section 775 of the Code, (vi) a Person that is not a citizen or resident of
      the
      United States, a corporation, partnership, or other entity (treated as a
      corporation or a partnership for federal income tax purposes) created or
      organized in or under the laws of the United States, any state thereof or the
      District of Columbia, or an estate whose income from sources without the United
      States is includible in gross income for United States federal income tax
      purposes regardless of its connection with the conduct of a trade or business
      within the United States, or a trust if a court within the United States is
      able
      to exercise primary supervision over the administration of the trust and one
      or
      more United States Persons have authority to control all substantial decisions
      of the trustor unless such Person has furnished the transferor and the Trustee
      with a duly completed Internal Revenue Service Form W-8ECI, and (vii) any other
      Person so designated by the Trustee based upon an Opinion of Counsel that the
      Transfer of an Ownership Interest in a Class A-R Certificate to such Person
      may
      cause any REMIC formed hereunder to fail to qualify as a REMIC at any time
      that
      any Certificates are Outstanding. The terms “United States,” “State” and
“International Organization” shall have the meanings set forth in section 7701
      of the Code or successor provisions. A corporation will not be treated as an
      instrumentality of the United States or of any State or political subdivision
      thereof for these purposes if all of its activities are subject to tax and,
      with
      the exception of the Federal Home Loan Mortgage Corporation, a majority of
      its
      board of directors is not selected by such government unit. 

     

    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.

     

    Plan:
      An
“employee benefit plan” as defined in section 3(3) of ERISA that is subject to
      Title I of ERISA, a “plan” as defined in section 4975 of the Code that is
      subject to section 4975 of the Code, or any Person investing on behalf of or
      with plan assets (as defined in 29 CFR § 2510.3-101 or otherwise under ERISA) of
      such an employee benefit plan or plan.

     

    Pool
      Stated Principal Balance:
      The
      aggregate of the Stated Principal Balances of the Mortgage Loans which were
      Outstanding Mortgage Loans.

     

    Pre-Funded
      Amount:
      The
      amount deposited in the Pre-Funding Account on the Closing Date, which
      shall equal $0.

     

    Pre-Funding
      Account:
      The
      separate Eligible Account created and maintained by the Trustee pursuant to
      Section 3.05 in the name of the Trustee for the benefit of the
      Certificateholders and designated “The Bank of New York, in trust for registered
      holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-BC2.” Funds in
      the Pre-Funding Account shall be held in trust for the Certificateholders for
      the uses and purposes set forth in this Agreement and shall not be a part of
      any
      REMIC created hereunder, provided, however that any investment income earned
      from Permitted Investments made with funds in the Pre-Funding Account will
      be
      for the account of CHL.

     

    Prepayment
      Assumption:
      The
      applicable rate of prepayment, as described in the Prospectus Supplement
      relating to the Certificates.

     

    Prepayment
      Charge:
      With
      respect to any Mortgage Loan, the charges or premiums, if any, due in connection
      with a full or partial prepayment of such Mortgage Loan within the related
      Prepayment Charge Period in accordance with the terms thereof (other than any
      Master Servicer Prepayment Charge Payment Amount).

     

    Prepayment
      Charge Period:
      With
      respect to any Mortgage Loan, the period of time during which a Prepayment
      Charge may be imposed.

     

    Prepayment
      Charge Schedule:
      As of
      the Initial Cut-off Date with respect to each Initial Mortgage Loan and as
      of
      the Subsequent Cut-off Date with respect to each Subsequent Mortgage Loan,
      a
      list attached hereto as Schedule I (including the Prepayment Charge Summary
      attached thereto), setting forth the following information with respect to
      each
      Prepayment Charge:

     

    (i) the
      Mortgage Loan identifying number;

     

    (ii) a
      code
      indicating the type of Prepayment Charge;

     

    (iii) the
      state
      of origination of the related Mortgage Loan;

     

    (iv) the
      date
      on which the first monthly payment was due on the related Mortgage
      Loan;

     

    (v) the
      term
      of the related Prepayment Charge; and

     

    (vi) the
      principal balance of the related Mortgage Loan as of the Cut-off
      Date.

     

    As
      of the
      Closing Date, the Prepayment Charge Schedule shall contain the necessary
      information for each Initial Mortgage Loan. The Prepayment Charge Schedule
      shall
      be amended by the Master Servicer upon the sale of any Subsequent Mortgage
      Loans
      to the Trust Fund. In addition, the Prepayment Charge Schedule shall be amended
      from time to time by the Master Servicer in accordance with the provisions
      of
      this Agreement and a copy of each related amendment shall be furnished by the
      Master Servicer to the Class P and Class C Certificateholders and the NIM
      Insurer.

     

    Prepayment
      Interest Excess:
      With
      respect to any Distribution Date, for each Mortgage Loan that was the subject
      of
      a Principal Prepayment during the period from the related Due Date to the end
      of
      the related Prepayment Period, any payment of interest received in connection
      therewith (net of any applicable Servicing Fee) representing interest accrued
      for any portion of such month of receipt.

     

    Prepayment
      Interest Shortfall:
      With
      respect to any Distribution Date, for each Mortgage Loan that was the subject
      of
      a partial Principal Prepayment or a Principal Prepayment in full during the
      period from the beginning of the related Prepayment Period to the Due Date
      in
      such Prepayment Period (other than a Principal Prepayment in full resulting
      from
      the purchase of a Mortgage Loan pursuant to Section 2.02, 2.03, 2.04, 3.12
      or
      9.01 hereof) and for each Mortgage Loan that became a Liquidated Mortgage Loan
      during the related Due Period, the amount, if any, by which (i) one month’s
      interest at the applicable Net Mortgage Rate on the Stated Principal Balance
      of
      such Mortgage Loan immediately prior to such prepayment (or liquidation) or
      in
      the case of a partial Principal Prepayment on the amount of such prepayment
      (or
      Liquidation Proceeds) exceeds (ii) the amount of interest paid or collected
      in
      connection with such Principal Prepayment or such Liquidation
      Proceeds.

     

    Prepayment
      Period:
      As to
      any Distribution Date and related Due Date, the period beginning with the
      opening of business on the sixteenth day of the calendar month preceding the
      month in which such Distribution Date occurs (or, with respect to the first
      Distribution Date, the period beginning with the opening of business on the
      day
      immediately following the Initial Cut-off Date) and ending on the close of
      business on the fifteenth day of the month in which such Distribution Date
      occurs.

     

    Prime
      Rate:
      The
      prime commercial lending rate of The Bank of New York, as publicly announced
      to
      be in effect from time to time. The Prime Rate shall be adjusted automatically,
      without notice, on the effective date of any change in such prime commercial
      lending rate. The Prime Rate is not necessarily The Bank of New York’s lowest
      rate of interest.

     

    Principal
      Distribution Amount:
      With
      respect to each Distribution Date and a Loan Group, the sum of (i) the Principal
      Remittance Amount for such Loan Group for such Distribution Date less any
      portion of such amount used to cover any payment due to the Swap Counterparty
      with respect to such Distribution Date pursuant to Section 4.09, (ii) the Extra
      Principal Distribution Amount for such Loan Group for such Distribution Date,
      and (iii) with respect to the Distribution Date immediately following the end
      of
      the Funding Period, the amount, if any, remaining in the Pre-Funding Account
      at
      the end of the Funding Period (net of any investment income therefrom) allocable
      to such Loan Group, minus (iv) (a) the amount of any Group 1
      Overcollateralization Reduction Amount, in the case of Loan Group 1 and (b)
      the
      amount of any Group 2 Overcollateralization Reduction Amount, in the case of
      Loan Group 2.

     

    Principal
      Prepayment:
      Any
      Mortgagor payment or other recovery of (or proceeds with respect to) principal
      on a Mortgage Loan (including loans purchased or repurchased under Sections
      2.02, 2.03, 2.04, 3.12 and 9.01 hereof) that is received in advance of its
      scheduled Due Date to the extent it is not accompanied by an amount as to
      interest representing scheduled interest due on any date or dates in any month
      or months subsequent to the month of prepayment. Partial Principal Prepayments
      shall be applied by the Master Servicer in accordance with the terms of the
      related Mortgage Note.

     

    Principal
      Remittance Amount:
      With
      respect to the Mortgage Loans in each Loan Group and
      any
      Distribution Date, (a) the sum, without duplication, of: (i) the scheduled
      principal collected with respect to the Mortgage Loans during the related Due
      Period or advanced with respect to such Distribution Date, (ii) Principal
      Prepayments collected in the related Prepayment Period, with respect to the
      Mortgage Loans, (iii) the Stated Principal Balance of each Mortgage Loan that
      was repurchased by a Seller or purchased by the Master Servicer with respect
      to
      such Distribution Date, (iv) the amount, if any, by which the aggregate unpaid
      principal balance of any Replacement Mortgage Loans delivered by the Sellers
      in
      connection with a substitution of a Mortgage Loan is less than the aggregate
      unpaid principal balance of any Deleted Mortgage Loans and (v) all Liquidation
      Proceeds (to the extent such Liquidation Proceeds related to principal) and
      Subsequent Recoveries collected during the related Due Period; less (b) all
      Advances relating to principal and certain expenses reimbursable pursuant to
      Section 6.03 and reimbursed during the related Due Period, in each case with
      respect to such Loan Group.

     

    Principal
      Reserve Fund:
      The
      separate Eligible Account created and initially maintained by the Trustee
      pursuant to Section 3.08 in the name of the Trustee for the benefit of the
      Certificateholders and designated “The Bank of New York in trust for registered
      Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-BC2”. Funds in
      the Principal Reserve Fund shall be held in trust for the Certificateholders
      for
      the uses and purposes set forth in this Agreement.

     

    Private
      Certificates:
      The
      Class B, Class C and Class P Certificates.

     

    Prospectus:
      The
      prospectus dated February 23, 2006, relating to asset-backed securities to
      be
      sold by the Depositor.

     

    Prospectus
      Supplement:
      The
      prospectus supplement dated May 26, 2006, relating to the public offering of
      the
      certain Classes of Certificates offered thereby.

     

    PTCE
      95-60:
      As
      defined in Section 5.02(b).

     

    PUD:
      A
      Planned Unit Development.

     

    Purchase
      Price:
      With
      respect to any Mortgage Loan (x) required to be (1) repurchased by a Seller
      or
      purchased by the Master Servicer, as applicable, pursuant to Section 2.02,
      2.03
      or 3.12 hereof or (2) repurchased by the Depositor pursuant to Section 2.04
      hereof, or (y) that the Master Servicer has a right to purchase pursuant to
      Section 3.12 hereof, an amount equal to the sum of (i) 100% of the unpaid
      principal balance (or, if such purchase or repurchase, as the case may be,
      is
      effected by the Master Servicer, the Stated Principal Balance) of the Mortgage
      Loan as of the date of such purchase, (ii) accrued interest thereon at the
      applicable Mortgage Rate (or, if such purchase or repurchase, as the case may
      be, is effected by the Master Servicer, at the Net Mortgage Rate) from (a)
      the
      date through which interest was last paid by the Mortgagor (or, if such purchase
      or repurchase, as the case may be, is effected by the Master Servicer, the
      date
      through which interest was last advanced and not reimbursed by the Master
      Servicer) to (b) the Due Date in the month in which the Purchase Price is to
      be
      distributed to Certificateholders and (iii) any costs, expenses and damages
      incurred by the Trust Fund resulting from any violation of any predatory or
      abusive lending law in connection with such Mortgage Loan.

     

    R-1-R
      Interest:
      The
      uncertificated Residual Interest in REMIC 1.

     

    R-2-R
      Interest:
      The
      uncertificated Residual Interest in REMIC 2.

     

    R-3-R
      Interest:
      The
      uncertificated Residual Interest in REMIC 3. 

     

    Rating
      Agency:
      Each of
      Moody’s and S&P. If any such organization or its successor is no longer in
      existence, “Rating Agency” shall be a nationally recognized statistical rating
      organization, or other comparable Person, designated by the Depositor, notice
      of
      which designation shall be given to the Trustee. References herein to a given
      rating category of a Rating Agency shall mean such rating category without
      giving effect to any modifiers.

     

    Realized
      Loss:
      With
      respect to each Liquidated Mortgage Loan, an amount (not less than zero or
      more
      than the Stated Principal Balance of the Mortgage Loan) as of the date of such
      liquidation, equal to (i) the Stated Principal Balance of such Liquidated
      Mortgage Loan as of the date of such liquidation, minus (ii) the Liquidation
      Proceeds, if any, received in connection with such liquidation during the month
      in which such liquidation occurs, to the extent applied as recoveries of
      principal of the Liquidated Mortgage Loan. With respect to each Mortgage Loan
      that has become the subject of a Deficient Valuation, (i) if the value of the
      related Mortgaged Property was reduced below the principal balance of the
      related Mortgage Note, the amount by which the value of the Mortgaged Property
      was reduced below the principal balance of the related Mortgage Note, and (ii)
      if the principal amount due under the related Mortgage Note has been reduced,
      the difference between the principal balance of the Mortgage Loan outstanding
      immediately prior to such Deficient Valuation and the principal balance of
      the
      Mortgage Loan as reduced by the Deficient Valuation. With respect to each
      Mortgage Loan that has become the subject of a Debt Service Reduction and any
      Distribution Date, the amount, if any, by which the related Scheduled Payment
      was reduced.

     

    Record
      Date:
      With
      respect to any Distribution Date and the Interest-Bearing Certificates, the
      Business Day immediately preceding such Distribution Date, or if such
      Certificates are no longer Book-Entry Certificates, the last Business Day of
      the
      month preceding the month of such Distribution Date. With respect to the Class
      A-R, Class C and Class P Certificates, the last Business Day of the month
      preceding the month of a Distribution Date. 

     

    Reference
      Bank Rate:
      With
      respect to any Accrual Period, the arithmetic mean (rounded upwards, if
      necessary, to the nearest whole multiple of 0.03125%) of the offered rates
      for
      United States dollar deposits for one month that are quoted by the Reference
      Banks as of 11:00 a.m., New York City time, on the related Interest
      Determination Date to prime banks in the London interbank market for a period
      of
      one month in amounts approximately equal to the outstanding aggregate
      Certificate Principal Balance of the Interest-Bearing Certificates on such
      Interest Determination Date, provided that at least two such Reference Banks
      provide such rate. If fewer than two offered rates appear, the Reference Bank
      Rate will be the arithmetic mean (rounded upwards, if necessary, to the nearest
      whole multiple of 0.03125%) of the rates quoted by one or more major banks
      in
      New York City, selected by the Trustee, as of 11:00 a.m., New York City time,
      on
      such date for loans in U.S. dollars to leading European banks for a period
      of
      one month in amounts approximately equal to the aggregate Certificate Principal
      Balance of the Interest-Bearing Certificates on such Interest Determination
      Date.

     

    Reference
      Banks:
      Barclays Bank PLC, Deutsche Bank and NatWest, N.A., provided that if any of
      the
      foregoing banks are not suitable to serve as a Reference Bank, then any leading
      banks selected by the Trustee which are engaged in transactions in Eurodollar
      deposits in the international Eurocurrency market (i) with an established place
      of business in London, England, (ii) not controlling, under the control of
      or
      under common control with the Depositor, CHL or the Master Servicer and (iii)
      which have been designated as such by the Trustee.

     

    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 A-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 clarification and interpretation 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 and publicly available.

     

    Relief
      Act:
      The
      Servicemembers Civil Relief Act.

     

    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.

     

    REMIC
      1:
      The
      segregated pool of assets described in the Preliminary Statement.

     

    REMIC
      1 Group I Regular Interests:
      REMIC 1
      Regular Interest I, REMIC 1 Regular Interest I-1-A through REMIC II Regular
      Interest I-35-B as designated in the Preliminary Statement hereto.

     

    REMIC
      1 Group II Regular Interests:
      REMIC 1
      Regular Interest II, REMIC 1 Regular Interest II-1-A through REMIC II Regular
      Interest II-35-B as designated in the Preliminary Statement hereto.

     

    REMIC
      1 Regular Interest:
      Any of
      the separate non-certificated beneficial ownership interests in REMIC 1 issued
      hereunder and designated as a Regular Interest in REMIC 1. Each REMIC 1 Regular
      Interest shall accrue interest at the related REMIC 1 Remittance Rate in effect
      from time to time, and shall be entitled to distributions of principal, subject
      to the terms and conditions hereof, in an aggregate amount equal to its initial
      Uncertificated Principal Balance as set forth in the Preliminary Statement
      hereto. The designations for the respective REMIC 1 Regular Interests are set
      forth in the Preliminary Statement hereto. The REMIC 1 Regular Interests consist
      of the REMIC 1 Group I Regular Interests and the REMIC 1 Group II Regular
      Interests.

     

    REMIC
      1 Remittance Rate:
      With
      respect to each REMIC 1 Group I Regular Interest ending with the designation
      “A”, a per annum rate equal to the weighted average of the Mortgage Rates of the
      Group 1 Mortgage Loans less the sum of (i) the Servicing Fee Rate and (ii)
      the
      Trustee Fee Rate, multiplied by 2, subject to a maximum rate of 10.600%. With
      respect to each REMIC 1 Group I Regular Interest ending with the designation
      “B”, the greater of (x) a per annum rate equal to the excess, if any, of (i) 2
      multiplied by the weighted average of the Mortgage Rates of the Group 1 Mortgage
      Loans less the sum of (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate,
      over (ii) 10.600% and (y) 0.00%. With respect to each REMIC 1 Group II Regular
      Interest ending with the designation “A”, a per annum rate equal to the weighted
      average of the Mortgage Rates of the Group 2 Mortgage Loans less the sum of
      (i)
      the Servicing Fee Rate and (ii) the Trustee Fee Rate, multiplied by 2, subject
      to a maximum rate of 10.600%. With respect to each REMIC 1 Group II Regular
      Interest ending with the designation “B”, the greater of (x) a per annum rate
      equal to the excess, if any, of (i) 2 multiplied by the weighted average of
      the
      Mortgage Rates of the Group 2 Mortgage Loans less the sum of (i) the Servicing
      Fee Rate and (ii) the Servicing Fee Rate over (ii) 10.600% and (y) 0.00%. With
      respect to REMIC 1 Regular Interest I, the weighted average of the Mortgage
      Rates of the Group 1 Mortgage Loans. With respect to REMIC 1 Regular Interest
      II, the weighted average of the Mortgage Rates of the Group 2 Mortgage Loans.
      

     

    REMIC
      2:
      The
      segregated pool of assets described in the Preliminary Statement.

     

    REMIC
      2 Interest Loss Allocation Amount:
      With
      respect to any Distribution Date, an amount (subject to adjustment based on
      the
      actual number of days elapsed in the respective Interest Accrual Periods for
      the
      indicated Regular Interests for such Distribution Date) equal to (a) the product
      of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans
      and
      REO Properties then outstanding and (ii) the REMIC 2 Remittance Rate for REMIC
      2
      Regular Interest LT-AA minus the Marker Rate, divided by (b) 12.

     

    REMIC
      2 Marker Allocation Percentage:
      50% of
      any amount payable or loss attributable from the Mortgage Loans, which shall
      be
      allocated to REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-1A,
      REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular Interest LT-2A2, REMIC 2
      Regular Interest LT-2A3, REMIC 2 Regular Interest LT-2A4, REMIC 2 Regular
      Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC 2 Regular Interest LT-M3,
      REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest LT-M5, REMIC 2 Regular
      Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC 2 Regular Interest LT-M8,
      REMIC 2 Regular Interest LT-M9, REMIC 2 Regular Interest LT-B, REMIC 2 Regular
      Interest LT-ZZ and REMIC 2 Regular Interest LT-P.

     

    REMIC
      2 Overcollateralization Target Amount:
      0.50%
      of the Overcollateralization Target Amount.

     

    REMIC
      2 Overcollateralized Amount:
      With
      respect to any date of determination, (i) 0.50% of the aggregate Uncertificated
      Principal Balance of the REMIC 2 Regular Interests minus (ii) the aggregate
      Uncertificated Balance of REMIC 2 Regular Interest LT-1A, REMIC 2 Regular
      Interest LT-2A1, REMIC 2 Regular Interest LT-2A2, REMIC 2 Regular Interest
      LT-2A3, REMIC 2 Regular Interest LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC
      2
      Regular Interest LT-M2, REMIC 2 Regular Interest LT-M3, REMIC 2 Regular Interest
      LT-M4, REMIC 2 Regular Interest LT-M5, REMIC 2 Regular Interest LT-M6, REMIC
      2
      Regular Interest LT-M7, REMIC 2 Regular Interest LT-M8, REMIC 2 Regular Interest
      LT-M9, REMIC 2 Regular Interest LT-B, REMIC 2 Regular Interest LT-AR and REMIC
      2
      Regular Interest LT-P in each case as of such date of
      determination.

     

    REMIC
      2 Principal Loss Allocation Amount:
      With
      respect to any Distribution Date, an amount equal to the product of (i) 50%
      of
      the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties
      then outstanding and (ii) one minus a fraction, the numerator of which is two
      times the aggregate Uncertificated Principal Balance of REMIC 2 Regular Interest
      LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular Interest LT-2A2, REMIC
      2
      Regular Interest LT-2A3, REMIC 2 Regular Interest LT-2A4, REMIC 2 Regular
      Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC 2 Regular Interest LT-M3,
      REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest LT-M5, REMIC 2 Regular
      Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC 2 Regular Interest LT-M8,
      REMIC 2 Regular Interest LT-M9 and REMIC 2 Regular Interest LT-B, and the
      denominator of which is the aggregate Uncertificated Principal Balance of REMIC
      2 Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular
      Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2 Regular Interest
      LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC
      2
      Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest
      LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC
      2
      Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9, REMIC 2 Regular Interest
      LT-B and REMIC 2 Regular Interest LT-ZZ.

     

    REMIC
      2 Regular Interest:
      Any of
      the separate non-certificated beneficial ownership interests in REMIC 2 issued
      hereunder and designated as a “regular interest” in REMIC 2. Each REMIC 2
      Regular Interest shall accrue interest at the related REMIC 2 Remittance Rate
      in
      effect from time to time, and shall be entitled to distributions of principal
      (other than REMIC 2 Regular Interest II-IO), subject to the terms and conditions
      hereof, in an aggregate amount equal to its initial Uncertificated Balance
      as
      set forth in the Preliminary Statement hereto. The following is a list of each
      of the REMIC 2 Regular Interests: REMIC 2 Regular Interest LT-AA, REMIC 2
      Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular
      Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2 Regular Interest
      LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC
      2
      Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest
      LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC
      2
      Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9, REMIC 2 Regular Interest
      LT-B, REMIC 2 Regular Interest LT-ZZ, REMIC 2 Regular Interest LT-P, REMIC
      2
      Regular Interest LT-AR, REMIC 2 Regular Interest LT-XX, REMIC 2 Regular Interest
      LT-1SUB, REMIC 2 Regular Interest LT-1GRP, REMIC 2 Regular Interest LT-2SUB,
      REMIC 2 Regular Interest LT-2GRP and REMIC 2 Regular Interest
      II-IO.

     

    REMIC
      2 Remittance Rate:
      With
      respect to REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-1A,
      REMIC
      2 Regular Interest LT-2A1, REMIC 2 Regular Interest LT-2A2, REMIC 2 Regular
      Interest LT-2A3, REMIC 2 Regular Interest LT-2A4, REMIC 2 Regular Interest
      LT-M1, REMIC 2 Regular Interest LT-M2, REMIC 2 Regular Interest LT-M3, REMIC
      2
      Regular Interest LT-M4, REMIC 2 Regular Interest LT-M5, REMIC 2 Regular Interest
      LT-M6, REMIC 2 Regular Interest LT-M7, REMIC 2 Regular Interest LT-M8, REMIC
      2
      Regular Interest LT-M9, REMIC 2 Regular Interest LT-ZZ, REMIC 2 Regular Interest
      LT-P, REMIC 2 Regular Interest LT-1SUB, REMIC 2 Regular Interest LT-2SUB and
      REMIC 2 Regular Interest LT-XX, a per annum rate (but not less than zero) equal
      to the weighted average of: (x) with respect to REMIC 1 Regular Interest I,
      REMIC 2 Regular Interest II and each REMIC 1 Regular Interest ending with the
      designation “B”, the weighted average of the REMIC 1 Remittance Rates for such
      REMIC 1 Regular Interests, weighted on the basis of the Uncertificated Principal
      Balances of such REMIC 1 Regular Interests for each such Distribution Date
      and
      (y) with respect to REMIC 1 Regular Interests ending with the designation “A”,
      for each Distribution Date listed below, the weighted average of the rates
      listed below for each such REMIC 1 Regular Interest listed below, weighted
      on
      the basis of the Uncertificated Principal Balances of each such REMIC 1 Regular
      Interest for each such Distribution Date:

     

    
      	
              Distribution
                Date

            	
              REMIC
                I Regular Interest

            	
              Rate

            
	
              1

            	
              I-1-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	
              2

            	
              I-2-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-2-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A

            	
              REMIC
                II Remittance Rate

            
	
              3

            	
              I-3-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-3-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                and I-2-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                and II-2-A

            	
              REMIC
                II Remittance Rate

            
	
              4

            	
              I-4-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-4-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-3-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-3-A

            	
              REMIC
                II Remittance Rate

            
	
              5

            	
              I-5-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-5-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-4-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-4-A

            	
              REMIC
                II Remittance Rate

            
	
              6

            	
              I-6-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-6-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-5-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-5-A

            	
              REMIC
                II Remittance Rate

            
	
              7

            	
              I-7-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-7-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-6-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-6-A

            	
              REMIC
                II Remittance Rate

            
	
              8

            	
              I-8-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-8-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-7-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-7-A

            	
              REMIC
                II Remittance Rate

            
	
              9

            	
              I-9-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-9-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-8-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-8-A

            	
              REMIC
                II Remittance Rate

            
	
              10

            	
              I-10-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-10-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-9-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-9-A

            	
              REMIC
                II Remittance Rate

            
	
              11

            	
              I-11-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-11-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-10-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-10-A

            	
              REMIC
                II Remittance Rate

            
	
              12

            	
              I-12-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-12-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-11-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-11-A

            	
              REMIC
                II Remittance Rate

            
	
              13

            	
              I-13-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-13-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-12-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-12-A

            	
              REMIC
                II Remittance Rate

            
	
              14

            	
              I-14-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-14-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-13-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-13-A

            	
              REMIC
                II Remittance Rate

            
	
              15

            	
              I-15-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-15-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-14-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-14-A

            	
              REMIC
                II Remittance Rate

            
	
              16

            	
              I-16-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-16-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-15-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-15-A

            	
              REMIC
                II Remittance Rate

            
	
              17

            	
              I-17-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-17-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-16-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-16-A

            	
              REMIC
                II Remittance Rate

            
	
              18

            	
              I-18-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-18-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-17-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-17-A

            	
              REMIC
                II Remittance Rate

            
	
              19

            	
              I-19-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-19-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-18-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-18-A

            	
              REMIC
                II Remittance Rate

            
	
              20

            	
              I-20-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-20-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-19-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-19-A

            	
              REMIC
                II Remittance Rate

            
	
              21

            	
              I-21-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-21-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-20-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-20-A

            	
              REMIC
                II Remittance Rate

            
	
              22

            	
              I-22-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-22-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-21-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-21-A

            	
              REMIC
                II Remittance Rate

            
	
              23

            	
              I-23-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-23-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-22-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-22-A

            	
              REMIC
                II Remittance Rate

            
	
              24

            	
              I-24-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-24-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-23-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-23-A

            	
              REMIC
                II Remittance Rate

            
	
              25

            	
              I-25-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-25-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-24-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-24-A

            	
              REMIC
                II Remittance Rate

            
	
              26

            	
              I-26-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-26-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-25-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-25-A

            	
              REMIC
                II Remittance Rate

            
	
              27

            	
              I-27-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-27-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-26-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-26-A

            	
              REMIC
                II Remittance Rate

            
	
              28

            	
              I-28-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-28-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-27-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-27-A

            	
              REMIC
                II Remittance Rate

            
	
              29

            	
              I-29-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-29-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-28-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-28-A

            	
              REMIC
                II Remittance Rate

            
	
              30

            	
              I-30-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-30-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-29-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-29-A

            	
              REMIC
                II Remittance Rate

            
	
              31

            	
              I-31-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-31-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-30-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-30-A

            	
              REMIC
                II Remittance Rate

            
	
              32

            	
              I-32-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-32-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-31-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-31-A

            	
              REMIC
                II Remittance Rate

            
	
              33

            	
              I-33-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-33-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-32-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-32-A

            	
              REMIC
                II Remittance Rate

            
	
              34

            	
              I-34-A
                and I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-34-A
                and II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-33-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-33-A

            	
              REMIC
                II Remittance Rate

            
	
              35

            	
              I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-35-A
                

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-34-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-34-A

            	
              REMIC
                II Remittance Rate

            
	
              thereafter

            	
              I-1-A
                through I-35-A

            	
              REMIC
                II Remittance Rate

            
	 	
              II-1-A
                through II-35-A

            	
              REMIC
                II Remittance Rate

            

    

    

    With
      respect to REMIC 2 Regular Interest LT-1GRP, a per annum rate (but not less
      than
      zero) equal to the weighted average of (x) with respect to REMIC 1 Regular
      Interest I and REMIC 1 Group I Regular Interests ending with the designation
      “B”, the weighted average of the REMIC 1 Remittance Rates for such REMIC 1
      Regular Interests, weighted on the basis of the Uncertificated Principal
      Balances of each such REMIC 1 Regular Interest for each such Distribution Date
      and (y) with respect to REMIC 1 Group I Regular Interests ending with the
      designation “A”, for each Distribution Date listed below, the weighted average
      of the rates listed below for such REMIC 1 Regular Interests listed below,
      weighted on the basis of the Uncertificated Principal Balances of each such
      REMIC 1 Regular Interest for each such Distribution Date:

     

    
      	
              Distribution
                Date

            	
              REMIC
                I Regular Interest

            	
              Rate

            
	
              1

            	
              I-1-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	 	 
	
              2

            	
              I-2-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              3

            	
              I-3-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                and I-2-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              4

            	
              I-4-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-3-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              5

            	
              I-5-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-4-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              6

            	
              I-6-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-5-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              7

            	
              I-7-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-6-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              8

            	
              I-8-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-7-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              9

            	
              I-9-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-8-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              10

            	
              I-10-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-9-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              11

            	
              I-11-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-10-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              12

            	
              I-12-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-11-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              13

            	
              I-13-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-12-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              14

            	
              I-14-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-13-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              15

            	
              I-15-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-14-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              16

            	
              I-16-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-15-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              17

            	
              I-17-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-16-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              18

            	
              I-18-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-17-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              19

            	
              I-19-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-18-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              20

            	
              I-20-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-19-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              21

            	
              I-21-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-20-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              22

            	
              I-22-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-21-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              23

            	
              I-23-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-22-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              24

            	
              I-24-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-23-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              25

            	
              I-25-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-24-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              26

            	
              I-26-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-25-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              27

            	
              I-27-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-26-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              28

            	
              I-28-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-27-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              29

            	
              I-29-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-28-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              30

            	
              I-30-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-29-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              31

            	
              I-31-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-30-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              32

            	
              I-32-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-31-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              33

            	
              I-33-A
                through I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-32-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              34

            	
              I-34-A
                and I-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-33-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              35

            	
              I-35-A
                

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              I-1-A
                through I-34-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              thereafter

            	
              I-1-A
                through I-35-A

            	
              REMIC
                II Remittance Rate

            

    

    

    With
      respect to REMIC 2 Regular Interest LT-2GRP, a per annum rate (but not less
      than
      zero) equal to the weighted average of (x) with respect to REMIC 1 Regular
      Interest II and REMIC 1 Group II Regular Interests ending with the designation
      “B”, the weighted average of the REMIC 1 Remittance Rates for such REMIC 1
      Regular Interests, weighted on the basis of the Uncertificated Principal
      Balances of each such REMIC 1 Regular Interest for each such Distribution Date
      and (y) with respect to REMIC 1 Group II Regular Interests ending with the
      designation “A”, for each Distribution Date listed below, the weighted average
      of the rates listed below for such REMIC 1 Regular Interests listed below,
      weighted on the basis of the Uncertificated Principal Balances of each such
      REMIC 1 Regular Interest for each such Distribution Date:

     

    
      	
              Distribution
                Date

            	
              REMIC
                I Regular Interest

            	
              Rate

            
	
              1

            	
              II-1-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	 	 
	
              2

            	
              II-2-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              3

            	
              II-3-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                and II-2-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              4

            	
              II-4-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-3-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              5

            	
              II-5-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-4-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              6

            	
              II-6-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-5-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              7

            	
              II-7-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-6-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              8

            	
              II-8-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-7-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              9

            	
              II-9-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-8-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              10

            	
              II-10-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-9-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              11

            	
              II-11-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-10-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              12

            	
              II-12-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-11-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              13

            	
              II-13-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-12-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              14

            	
              II-14-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-13-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              15

            	
              II-15-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-14-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              16

            	
              II-16-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-15-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              17

            	
              II-17-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-16-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              18

            	
              II-18-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-17-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              19

            	
              II-19-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-18-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              20

            	
              II-20-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-19-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              21

            	
              II-21-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-20-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              22

            	
              II-22-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-21-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              23

            	
              II-23-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-22-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              24

            	
              II-24-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-23-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              25

            	
              II-25-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-24-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              26

            	
              II-26-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-25-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              27

            	
              II-27-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-26-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              28

            	
              II-28-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-27-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              29

            	
              II-29-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-28-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              30

            	
              II-30-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-29-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              31

            	
              II-31-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-30-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              32

            	
              II-32-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-31-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              33

            	
              II-33-A
                through II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-32-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              34

            	
              II-34-A
                and II-35-A

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-33-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              35

            	
              II-35-A
                

            	
              2
                multiplied by Swap LIBOR, subject to a maximum rate of REMIC II Remittance
                Rate

            
	 	
              II-1-A
                through II-34-A

            	
              REMIC
                II Remittance Rate

            
	 	 	 
	
              thereafter

            	
              II-1-A
                through II-35-A

            	
              REMIC
                II Remittance Rate

            

    

    

    With
      respect to REMIC 2 Regular Interest II-IO, and (i) the first Distribution Date
      through the 35th
      Distribution Date, the excess of (x) the weighted average of the Uncertificated
      REMIC 1 Pass-Through Rates for REMIC 1 Regular Interests including the
      designation “A”, over (y) 2 multiplied by Swap LIBOR and (1) thereafter,
      0.00%.

     

    REMIC
      2 Subordinate Allocation Percentage:
      50% of
      any amount payable from or loss attributable to the Mortgage Loans, which shall
      be allocated to REMIC 2 Regular Interest LT-1SUB, REMIC 2 Regular Interest
      LT-1GRP, REMIC 2 Regular Interest LT-2SUB, REMIC 2 Regular Interest LT-2GRP
      and
      REMIC 2 Regular Interest LT-XX.

     

    REMIC
      2 Subordinated Balance Ratio:
      The
      ratio among the Uncertificated Principal Balances of each REMIC 2 Regular
      Interest ending with the designation “SUB,” equal to the ratio between, with
      respect to each such REMIC 2 Regular Interest, the excess of (x) the aggregate
      Stated Principal Balance of the Mortgage Loans in the related Loan Group over
      (y) the current Certificate Principal Balance of Class A Certificates in the
      related Loan Group.

     

    REMIC
      3:
      The
      segregated pool of assets consisting of all of the REMIC 2 Regular Interests
      conveyed in trust to the Trustee, for the benefit of the Holders of the LIBOR
      Certificates, the Class SWAP-IO Interest, the Class P Certificate and the Class
      AR Certificate (in respect of the R-3-R Interest), pursuant to Article
      II hereunder,
      and all amounts deposited therein, with respect to which a separate REMIC
      election is to be made.

     

    Remittance
      Report:
      A
      report prepared by the Master Servicer and delivered to the Trustee and the
      NIM
      Insurer in accordance with Section 4.04.

     

    REO
      Property:
      A
      Mortgaged Property acquired by the Master Servicer through foreclosure or
      deed-in-lieu of foreclosure in connection with a defaulted Mortgage
      Loan.

     

    Replacement
      Mortgage Loan:
      A
      Mortgage Loan substituted by a Seller for a Deleted Mortgage Loan which must,
      on
      the date of such substitution, as confirmed in a Request for File Release,
      (i)
      have a Stated Principal Balance, after deduction of the principal portion of
      the
      Scheduled Payment due in the month of substitution, not in excess of, and not
      less than 90% of the Stated Principal Balance of the Deleted Mortgage Loan;
      (ii)
      with respect to any Fixed Rate Mortgage Loan, have a Mortgage Rate not less
      than
      or no more than 1% per annum higher than the Mortgage Rate of the Deleted
      Mortgage Loan and, with respect to any Adjustable Rate Mortgage Loan: (a) have
      a
      Maximum Mortgage Rate no more than 1% per annum higher or lower than the Maximum
      Mortgage Rate of the Deleted Mortgage Loan; (b) have a Minimum Mortgage Rate
      no
      more than 1% per annum higher or lower than the Minimum Mortgage Rate of the
      Deleted Mortgage Loan; (c) have the same Index and intervals between Adjustment
      Dates as that of the Deleted Mortgage Loan; (d) have a Gross Margin not more
      than 1% per annum higher or lower than that of the Deleted Mortgage Loan; and
      (e) have an Initial Periodic Rate Cap and a Subsequent Periodic Rate Cap each
      not more than 1% lower than that of the Deleted Mortgage Loan; (iii) have the
      same or higher credit quality characteristics than that of the Deleted Mortgage
      Loan; (iv) be accruing interest at a rate not more than 1% per annum higher
      or
      lower than that of the Deleted Mortgage Loan; (v) have a Loan-to-Value Ratio
      no
      higher than that 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) not permit conversion of the Mortgage Rate from
      a
      fixed rate to a variable rate or vice versa; (viii) provide for a Prepayment
      Charge on terms substantially similar to those of the Prepayment Charge, if
      any,
      of the Deleted Mortgage Loan; (ix) have the same occupancy type and lien
      priority as the Deleted Mortgage Loan; and (x) comply with each representation
      and warranty set forth in Section 2.03 as of the date of substitution; provided,
      however, that notwithstanding the foregoing, to the extent that compliance
      with
      clause (x) of this definition would cause a proposed Replacement Mortgage Loan
      to fail to comply with one or more of clauses (i), (ii), (iv), (viii) and/or
      (ix) of this definition, then such proposed Replacement Mortgage Loan must
      comply with clause (x) and need not comply with one or more of clauses (i),
      (ii), (iv), (viii) and/or (ix), to the extent, and only to the extent, necessary
      to assure that the Replacement Mortgage Loan otherwise complies with clause
      (x).

     

    Reportable
      Event:
      Any
      event required to be reported on Form 8-K, and in any event, the following:
      

     

    (a) entry
      into a definitive agreement related to the Trust Fund, the Certificates or
      the
      Mortgage Loans, or an amendment to a Transaction Document, even if the Depositor
      is not a party to such agreement (e.g., a servicing agreement with a servicer
      contemplated by Item 1108(a)(3) of Regulation AB); 

     

    (b) termination
      of a Transaction Document (other than by expiration of the agreement on its
      stated termination date or as a result of all parties completing their
      obligations under such agreement), even if the Depositor is not a party to
      such
      agreement (e.g., a servicing agreement with a servicer contemplated by Item
      1108(a)(3) of Regulation AB); 

     

    (c) with
      respect to the Master Servicer only, if the Master Servicer becomes aware of
      any
      bankruptcy or receivership with respect to CHL, the Depositor, the Master
      Servicer, any Subservicer, the Trustee, the Swap Counterparty, any enhancement
      or support provider contemplated by Items 1114(b) or 1115 of Regulation AB,
      or
      any other material party contemplated by Item 1101(d)(1) of Regulation AB;
      

     

    (d) with
      respect to the Trustee, the Master Servicer and the Depositor only, the
      occurrence of an early amortization, performance trigger or other event,
      including an Event of Default under this Agreement; 

     

    (e) any
      amendment to this Agreement; 

     

    (f) the
      resignation, removal, replacement, substitution of the Master Servicer, any
      Subservicer, the Trustee or any co-trustee; 

     

    (g) with
      respect to the Master Servicer only, if the Master Servicer becomes aware that
      (i) any material enhancement or support specified in Item 1114(a)(1) through
      (3)
      of Regulation AB or Item 1115 of Regulation AB that was previously applicable
      regarding one or more classes of the Certificates has terminated other than
      by
      expiration of the contract on its stated termination date or as a result of
      all
      parties completing their obligations under such agreement; (ii) any material
      enhancement specified in Item 1114(a)(1) through (3) of Regulation AB or Item
      1115 of Regulation AB has been added with respect to one or more classes of
      the
      Certificates; or (iii) any existing material enhancement or support specified
      in
      Item 1114(a)(1) through (3) of Regulation AB or Item 1115 of Regulation AB
      with
      respect to one or more classes of the Certificates has been materially amended
      or modified; and

     

    (h) with
      respect to the Trustee, the Master Servicer and the Depositor only, a required
      distribution to Holders of the Certificates is not made as of the required
      Distribution Date under this Agreement.

     

    Reporting
      Subcontractor:
      With
      respect to the Master Servicer or the Trustee, any Subcontractor determined
      by
      such Person pursuant to Section 11.08(b) to be “participating in the servicing
      function” within the meaning of Item 1122 of Regulation AB. References to a
      Reporting Subcontractor shall refer only to the Subcontractor of such Person
      and
      shall not refer to Subcontractors generally.

     

    Representing
      Party:
      As
      defined in Section 2.03(g).

     

    Request
      for Document Release:
      A
      Request for Document Release submitted by the Master Servicer to the Trustee,
      substantially in the form of Exhibit M.

     

    Request
      for File Release:
      A
      Request for File Release submitted by the Master Servicer to the Trustee,
      substantially in the form of Exhibit N.

     

    Required
      Carryover Reserve Fund Deposit:
      With
      respect to any Distribution Date, an amount equal to the excess of (i) $1,000
      over (ii) the amount of funds on deposit in the Carryover Reserve
      Fund.

     

    Required
      Insurance Policy:
      With
      respect to any Mortgage Loan, any insurance policy that is required to be
      maintained from time to time under this Agreement.

     

    Residual
      Interest:
      The
      sole class of “residual interests” in a REMIC within the meaning of Section
      860G(a)(2) of the Code.

     

    Responsible
      Officer:
      When
      used with respect to the Trustee, any Vice President, any Assistant Vice
      President, the Secretary, any Assistant Secretary, any Trust Officer or any
      other officer of the Trustee customarily performing functions similar to those
      performed by any of the above designated officers and also to whom, with respect
      to a particular matter, such matter is referred because of such officer’s
      knowledge of and familiarity with the particular subject.

     

    Rolling
      Sixty-Day Delinquency Rate:
      With
      respect to any Distribution Date on or after the Stepdown Date and any Loan
      Group or Loan Groups, the average of the Sixty-Day Delinquency Rates for such
      Loan Group or Loan Groups and such Distribution Date and the two immediately
      preceding Distribution Dates.

     

    Rule
      144A:
      Rule
      144A under the Securities Act.

     

    Rule
      144A Letter:
      As
      defined in Section 5.02(b).

     

    S&P:
      Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
      Inc. and its successors.

     

    Sarbanes-Oxley
      Certification:
      As
      defined in Section 11.05.

     

    Scheduled
      Payment:
      With
      respect to any Mortgage Loan, the scheduled monthly payment of principal and/or
      interest due on any Due Date on such Mortgage Loan which is payable by the
      related Mortgagor from time to time under the related Mortgage Note, determined:
      (a) after giving effect to (i) any Deficient Valuation and/or Debt Service
      Reduction with respect to such Mortgage Loan and (ii) any reduction in the
      amount of interest collectible from the related Mortgagor pursuant to the Relief
      Act or any similar state or local law; (b) without giving effect to any
      extension granted or agreed to by the Master Servicer pursuant to Section
      3.05(a); and (c) on the assumption that all other amounts, if any, due under
      such Mortgage Loan are paid when due.

     

    Securities
      Act:
      The
      Securities Act of 1933, as amended.

     

    Sellers:
      CHL, in
      its capacity as seller of the CHL Mortgage Loans to the Depositor, Park Monaco,
      in its capacity as seller of the Park Monaco Mortgage Loans to the Depositor,
      Park Granada, in its capacity as seller of the Park Granada Mortgage Loans
      to
      the Depositor and Park Sienna, in its capacity as seller of the Park Sienna
      Mortgage Loans to the Depositor.

     

    Seller
      Shortfall Interest Requirement:
      With
      respect to the Distribution Date in each of June 2006, July 2006 and August
      2006, is the sum of:

     

    (a) the
      product of: (1) the excess of the aggregate Stated Principal Balance for such
      Distribution Date of all the Mortgage Loans in the Mortgage Pool (including
      the
      Subsequent Mortgage Loans, if any) owned by the Trust Fund at the beginning
      of
      the related Due Period, over the aggregate Stated Principal Balance for such
      Distribution Date of such Mortgage Loans (including such Subsequent Mortgage
      Loans, if any) that have a scheduled payment of interest due in the related
      Due
      Period, and (2) a fraction, the numerator of which is the weighted average
      Net
      Mortgage Rate of all the Mortgage Loans in the Mortgage Pool (including such
      Subsequent Mortgage Loans, if any) (weighted on the basis of the Stated
      Principal Balances thereof for such Distribution Date) and the denominator
      of
      which is 12; and

     

    (b) the
      lesser of: 

     

    (i)
       the
      product of: (1) the amount on deposit in the Pre-Funding Account at the
      beginning of the related Due Period, and (2) a fraction, the numerator of which
      is the weighted average Net Mortgage Rate of the Mortgage Loans (including
      Subsequent Mortgage Loans, if any) owned by the Trust Fund at the beginning
      of
      the related Due Period (weighted on the basis of the Stated Principal Balances
      thereof for such Distribution Date) and the denominator of which is 12;
      and

     

    (ii) the
      excess of (x) the amount of Current Interest and Interest Carry Forward Amount
      due and payable on the Interest-Bearing Certificates for such Distribution
      Date,
      over (y) the sum of (1) Interest Funds (less any portion of Interest Funds
      allocated to the Swap Trust to cover any Net Swap Payment due to the Swap
      Counterparty with respect to such Distribution Date) otherwise available to
      pay
      the amount specified in clause (b)(ii)(x) (after giving effect to the addition
      of any amounts in clause (a) of this definition of Seller Shortfall Interest
      Requirement to Interest Funds for such Distribution Date) and (2) any Net Swap
      Payment received by the Swap Contract Administrator from the Swap Counterparty
      for such Distribution Date and allocated to the Swap Trust to pay Current
      Interest and Interest Carry Forward Amounts on the Interest-Bearing Certificates
      for such Distribution Date.

     

    Senior
      Certificates:
      The
      Class A and Class A-R Certificates.

     

    Senior
      Enhancement Percentage:
      With
      respect to a Distribution Date on or after the Stepdown Date, the fraction
      (expressed as a percentage) (1) the numerator of which is the excess of (a)
      the
      aggregate Stated Principal Balance of the Mortgage Loans for the preceding
      Distribution Date over (b) (i) before the Certificate Principal Balances of
      the
      Senior Certificates have been reduced to zero, the sum of the Certificate
      Principal Balances of the Senior Certificates, or (ii) after the Certificate
      Principal Balances of the Senior Certificates have been reduced to zero, the
      Certificate Principal Balance of the most senior Class of Subordinate
      Certificates outstanding, as of the related Master Servicer Advance Date, and
      (2) the denominator of which is the aggregate Stated Principal Balance of the
      Mortgage Loans for the preceding Distribution Date.

     

    Servicing
      Advances:
      All
      customary, reasonable and necessary “out of pocket” costs and expenses incurred
      in the performance by the Master Servicer of its servicing obligations
      hereunder, including, but not limited to, the cost of (i) the preservation,
      restoration and protection of a Mortgaged Property, (ii) any enforcement or
      judicial proceedings, including foreclosures, (iii) the management and
      liquidation of any REO Property and (iv) compliance with the obligations under
      Section 3.10.

     

    Servicing
      Criteria:
      The
“servicing criteria” set forth in Item 1122(d) of Regulation AB.

     

    Servicing
      Fee:
      As to
      each Mortgage Loan and any Distribution Date, an amount equal to one month’s
      interest at the Servicing Fee Rate on the Stated Principal Balance of such
      Mortgage Loan for the preceding Distribution Date or, in the event of any
      payment of interest that accompanies a Principal Prepayment in full made by
      the
      Mortgagor, interest at the Servicing Fee Rate on the Stated Principal Balance
      of
      such Mortgage Loan for the period covered by such payment of
      interest.

     

    Servicing
      Fee Rate:
      With
      respect to each Mortgage Loan, 0.50% per annum.

     

    Servicing
      Officer:
      Any
      officer of the Master Servicer involved in, or responsible for, the
      administration and servicing of the Mortgage Loans whose name and facsimile
      signature appear on a list of servicing officers furnished to the Trustee by
      the
      Master Servicer on the Closing Date pursuant to this Agreement, as such list
      may
      from time to time be amended.

     

    Sixty-Day
      Delinquency Rate:
      With
      respect to any Distribution Date on or after the Stepdown Date, a fraction,
      expressed as a percentage, the numerator of which is the aggregate Stated
      Principal Balance for such Distribution Date of all Mortgage Loans 60 or more
      days delinquent as of the close of business on the last day of the calendar
      month preceding such Distribution Date (including Mortgage Loans in foreclosure,
      bankruptcy and REO Properties) and the denominator of which is the aggregate
      Stated Principal Balance for such Distribution Date of all Mortgage
      Loans.

     

    Startup
      Date:
      The
      Closing Date is hereby designated as the “startup day” of the Trust Fund within
      the meaning of Section 860G(a)(9) of the Code.

     

    Stated
      Principal Balance:
      With
      respect to any Mortgage Loan or related REO Property (i) as of the Cut-off
      Date,
      the unpaid principal balance of the Mortgage Loan as of such date (before any
      adjustment to the amortization schedule for any moratorium or similar waiver
      or
      grace period), after giving effect to any partial prepayments or Liquidation
      Proceeds received prior to such date and to the payment of principal due on
      or
      prior to such date and irrespective any delinquency in payment by the related
      Mortgagor, and (ii) as of any other Distribution Date, the Stated Principal
      Balance of the Mortgage Loan as of its Cut-off Date, minus the sum of (a) the
      principal portion of the Scheduled Payments (x) due with respect to such
      Mortgage Loan during each Due Period ending prior to such Distribution Date
      and
      (y) that were received by the Master Servicer as of the close of business on
      the
      Determination Date related to such Distribution Date or with respect to which
      Advances were made as of the Master Servicer Advance Date related to such
      Distribution Date, (b) all Principal Prepayments with respect to such Mortgage
      Loan received by the Master Servicer during each Prepayment Period ending prior
      to such Distribution Date and (c) all Liquidation Proceeds collected with
      respect to such Mortgage Loan during each Due Period ending prior to such
      Distribution Date, to the extent applied by the Master Servicer as recoveries
      of
      principal in accordance with Section 3.12. The Stated Principal Balance of
      any
      Mortgage Loan that becomes a Liquidated Mortgage Loan will be zero on each
      date
      following the Due Period in which such Mortgage Loan becomes a Liquidated
      Mortgage Loan. References herein to the Stated Principal Balance of the Mortgage
      Loans at any time shall mean the aggregate Stated Principal Balance of all
      Mortgage Loans in the Trust Fund as of such time, and references herein to
      the
      Stated Principal Balance of a Loan Group at any time shall mean the aggregate
      Stated Principal Balance of all Mortgage Loans in such Loan Group at such
      time.

     

    Stepdown
      Date:
      The
      earlier to occur of (a) the Distribution Date on which the aggregate Certificate
      Principal Balance of the Senior Certificates is reduced to zero, and (b) the
      later to occur of (x) the Distribution Date in June 2009 and (y) the first
      Distribution Date on which the aggregate Certificate Principal Balance of the
      Senior Certificates (after calculating anticipated distributions on such
      Distribution Date) is less than or equal to 56.00% of the aggregate Stated
      Principal Balance of the Mortgage Loans for such Distribution Date.

     

    Stepdown
      Target Subordination Percentage:
      For
      each Class of Subordinate Certificates, the respective percentage indicated
      in
      the following table:

     

    
      	 	
              Stepdown
                Target 

              Subordination
                

              Percentage

            
	
              Class
                M-1

            	
              36.40%

            
	
              Class
                M-2

            	
              29.20%

            
	
              Class
                M-3

            	
              25.00%

            
	
              Class
                M-4

            	
              21.20%

            
	
              Class
                M-5

            	
              17.40%

            
	
              Class
                M-6

            	
              14.10%

            
	
              Class
                M-7

            	
              11.20%

            
	
              Class
                M-8

            	
              8.40%

            
	
              Class
                M-9

            	
              6.30%

            
	
              Class
                B

            	
              4.00%

            

    

    

     

    Subcontractor:
      Any
      vendor, subcontractor or other Person that is not responsible for the overall
      servicing (as “servicing” is commonly understood by participants in the
      mortgage-backed securities market) of Mortgage Loans but performs one or more
      discrete functions identified in Item 1122(d) of Regulation AB with respect
      to
      the Mortgage Loans under the direction or authority of the Master Servicer
      or a
      Subservicer or the Trustee, as the case may be.

     

    Subordinate
      Certificates:
      The
      Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7,
      Class M-8, Class M-9 and Class B Certificates.

     

    Subordinate
      Class Principal Distribution Amount:
      With
      respect to any Distribution Date and any Class of Subordinate Certificates,
      the
      excess of (1) the sum of (a) the aggregate Certificate Principal Balance of
      the
      Class A Certificates (after taking into account distribution of the Class A
      Principal Distribution Target Amount for such Distribution Date), (b) the
      aggregate Certificate Principal Balance of any Class(es) of Subordinate
      Certificates that are senior to the subject Class (in each case, after taking
      into account distribution of the Subordinate Class Principal Distribution
      Amount(s) for such senior Class(es) of Certificates for such Distribution Date),
      and (c) the Certificate Principal Balance of the subject Class of Subordinate
      Certificates immediately prior to such Distribution Date over (2) the lesser
      of
      (a) the product of (x) 100% minus the Stepdown Target Subordination Percentage
      for the subject Class of Certificates and (y) the aggregate Stated Principal
      Balance of the Mortgage Loans for such Distribution Date and (b) the aggregate
      Stated Principal Balance of the Mortgage Loans for such Distribution Date minus
      the OC Floor; provided, however, that if such Class of Subordinate Certificates
      is the only Class of Subordinate Certificates outstanding on such Distribution
      Date, that Class will be entitled to receive the entire remaining Principal
      Distribution Amount for Loan Group 1 and Loan Group 2 until the Certificate
      Principal Balance thereof is reduced to zero.

     

    Subordinate
      Net Rate Cap:
      With
      respect to any Distribution Date and each Class of Subordinate Certificates,
      the
      weighted average of the Class 1-A Net Rate Cap and the Class 2-A Net Rate Cap,
      weighted on the basis of the excess (if any) of the sum of the aggregate Stated
      Principal Balance of the Mortgage Loans in the related Loan Group and the amount
      on deposit in the Pre-Funding Account in respect of that Loan Group over the
      outstanding Certificate Principal Balance of the related Senior
      Certificates.

     

    Subsequent
      Certificate Account Deposit:
      With
      respect to any Subsequent Transfer Date, an amount equal to the aggregate of
      all
      amounts in respect of (i) principal of the related Subsequent Mortgage Loans
      due
      after the related Subsequent Cut-off Date and received by the Master Servicer
      on
      or before such Subsequent Transfer Date and not applied in computing the Cut-off
      Date Principal Balance thereof and (ii) interest on the such Subsequent Mortgage
      Loans due after such Subsequent Cut-off Date and received by the Master Servicer
      on or before the Subsequent Transfer Date.

     

    Subsequent
      Cut-off Date:
      In the
      case of any Subsequent Mortgage Loan, the later of (x) the first day of the
      month of the related Subsequent Transfer Date and (y) the date of origination
      of
      such Subsequent Mortgage Loan.

     

    Subsequent
      Mortgage Loan:
      Any
      Mortgage Loan conveyed to the Trustee on a Subsequent Transfer Date, and listed
      on the related Loan Number and Borrower Identification Mortgage Loan Schedule
      delivered pursuant to Section 2.01(f). When used with respect to a single
      Subsequent Transfer Date, “Subsequent
      Mortgage Loan”
shall
      mean a Subsequent Mortgage Loan conveyed to the Trustee on such Subsequent
      Transfer Date.

     

    Subsequent
      Periodic Rate Cap:
      With
      respect to each Adjustable Rate Mortgage Loan, the percentage specified in
      the
      related Mortgage Note that limits permissible increases and decreases in the
      Mortgage Rate on any Adjustment Date (other than the initial Adjustment
      Date).

     

    Subsequent
      Recoveries:
      As to
      any Distribution Date, with respect to a Liquidated Mortgage Loan that resulted
      in a Realized Loss in a prior calendar month, unexpected amounts received by
      the
      Master Servicer (net of any related expenses permitted to be reimbursed pursuant
      to Section 3.08 and 3.12) specifically related to such Liquidated Mortgage
      Loan
      after the classification of such Mortgage Loan as a Liquidated Mortgage
      Loan.

     

    Subsequent
      Transfer Agreement:
      A
      Subsequent Transfer Agreement substantially in the form of Exhibit P hereto,
      executed and delivered by the Sellers, the Depositor and the Trustee as provided
      in Section 2.01(d).

     

    Subsequent
      Transfer Date:
      For any
      Subsequent Transfer Agreement, the “Subsequent Transfer Date” identified in such
      Subsequent Transfer Agreement; provided, however, the Subsequent Transfer Date
      for any Subsequent Transfer Agreement must be a Business Day and may not be
      a
      date earlier than the date on which the Subsequent Transfer Agreement is
      executed and delivered by the parties thereto pursuant to Section
      2.01(d).

     

    Subsequent
      Transfer Date Purchase Amount:
      With
      respect to any Subsequent Transfer Date, the “Subsequent Transfer Date Purchase
      Amount” identified in the related Subsequent Transfer Agreement which shall be
      an estimate of the aggregate Stated Principal Balances of the Subsequent
      Mortgage Loans identified in such Subsequent Transfer Agreement.

     

    Subsequent
      Transfer Date Transfer Amount:
      With
      respect to any Subsequent Transfer Date, an amount equal to the lesser of (i)
      the aggregate Stated Principal Balances as of the related Subsequent Cut-off
      Dates of the Subsequent Mortgage Loans conveyed on such Subsequent Transfer
      Date, as listed on the related Loan Number and Borrower Identification Mortgage
      Loan Schedule delivered pursuant to Section 2.01(f) and (ii) the amount on
      deposit in the Pre-Funding Account.

     

    Subservicer:
      As
      defined in Section 3.02(a).

     

    Subservicing
      Agreement:
      As
      defined in Section 3.02(a).

     

    Substitution
      Adjustment Amount:
      The
      meaning ascribed to such term pursuant to Section 2.03(g).

     

    Substitution
      Amount:
      With
      respect to any Mortgage Loan substituted pursuant to Section 2.03(g), the excess
      of (x) the principal balance of the Mortgage Loan that is substituted for,
      over
      (y) the principal balance of the related substitute Mortgage Loan, each balance
      being determined as of the date of substitution.

     

    Swap
      Account:
      The
      separate Eligible Account created and initially maintained by the Swap Trustee
      pursuant to Section 4.09.

     

    Swap
      Contract:
      The
      transaction evidenced by the Confirmation (as assigned to the Swap Contract
      Administrator pursuant to the Swap Contract Novation Agreement), a form of
      which
      is attached hereto as Exhibit U.

     

    Swap
      Contract Administration Agreement:
      The
      swap contract administration agreement dated as of the Closing Date among CHL,
      the Trustee and the Swap Contract Administrator, a form of which is attached
      hereto as Exhibit V-2.

     

    Swap
      Contract Administrator:
      The
      Bank of New York, in its capacity as swap contract administrator under the
      Swap
      Contract Administration Agreement.

     

    Swap
      Contract Novation Agreement:
      The
      Assignment Agreement dated as of the Closing Date among CHL, the Swap Contract
      Administrator and the Swap Counterparty, a form of which is attached hereto
      as
      Exhibit V-1.

     

    Swap
      Counterparty:
      Lehman
      Brothers Special Financing Inc. and
      its
      successors.

     

    Swap
      Contract Termination Date:
      The
      Distribution Date in April 2009.

     

    Swap
      Counterparty Trigger Event:
      A Swap
      Termination Payment that is triggered upon (i) an “Event of Default” under the
      Swap Contract with respect to which the Swap Counterparty is the sole
“Defaulting Party” (as defined in the Swap Contract) or (ii) a “Termination
      Event” or “Additional Termination Event” under the Swap Contract with respect to
      which the Swap Counterparty is the sole “Affected Party” (as defined in the Swap
      Contract).

     

    Swap
      Guarantee:
      The
      guaranty, dated as of May 30, 2006, by the Swap Guarantor in favor of the Swap
      Contract Administrator, a form of which is attached hereto as Exhibit
      V-3.

    

    Swap
      Guarantor:
      Lehman
      Brothers Holdings Inc.

    

    Swap
      LIBOR:
      A per annum rate equal to the floating rate payable by the Swap Counterparty
      to
      the Swap Contract Administrator under the Swap Contract.

    

    Swap
      Termination Payment:
      The
      payment payable to either party under the Swap Contract due to an early
      termination of the Swap Contract.

     

    Swap
      Trust:
      The
      trust fund established by Section 4.09.

     

    Swap
      Trustee:
      The
      Bank of New York, a New York banking corporation, not in its individual
      capacity, but solely in its capacity as trustee for the benefit of the Holders
      of the Interest-Bearing Certificates under this Agreement, and any successor
      thereto, and any corporation or national banking association resulting from
      or
      surviving any consolidation or merger to which it or its successors may be
      a
      party and any successor trustee as may from time to time be serving as successor
      trustee hereunder.

     

    Tax
      Matters Person:
      The
      person designated as “tax matters person” in the manner provided under Treasury
      regulation § 1.860F-4(d) and Treasury regulation § 301.6231(a)(7)-1. Initially,
      this person shall be the Trustee.

     

    Tax
      Matters Person Certificate:
      With
      respect to the REMIC 1, REMIC 2 and REMIC 3, the Class A-R Certificate with
      a
      Denomination of $0.05 and in the form of Exhibit E hereto.

     

    Ten-Year
      Hybrid Mortgage Loan:
      A
      Mortgage Loan having a Mortgage Rate that is fixed for 120 months after
      origination thereof before such Mortgage Rate becomes subject to
      adjustment.

     

    

     

    Terminator:
      As
      defined in Section 9.01.

     

    Three-Year
      Hybrid Mortgage Loan:
      A
      Mortgage Loan having a Mortgage Rate that is fixed for 36 months after
      origination thereof before such Mortgage Rate becomes subject to
      adjustment.

     

    Transaction
      Documents:
      This
      Agreement, the Swap Contract, the Swap Contract Administration Agreement and
      any
      other document or agreement entered into in connection with the Trust Fund,
      the
      Certificates or the Mortgage Loans.

     

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

     

    Transfer
      Affidavit:
      As
      defined in Section 5.02(c).

     

    Transferor
      Certificate:
      As
      defined in Section 5.02(b).

     

    Trigger
      Event:
      With
      respect to any Distribution Date on or after the Stepdown Date, either a
      Delinquency Trigger Event with respect to that Distribution Date or a Cumulative
      Loss Trigger Event with respect to that Distribution Date.

     

    Trust
      Fund:
      The
      corpus of the trust created hereunder consisting of (i) the Mortgage Loans
      and
      all interest and principal received on or with respect thereto after the Cut-off
      Date to the extent not applied in computing the Cut-off Date Principal Balance
      thereof, exclusive of interest not required to be deposited in the Certificate
      Account pursuant to Section 3.05(b)(2); (ii) the Certificate Account, the
      Distribution Account, the Principal Reserve Fund, the Carryover Reserve Fund,
      the Pre-Funding Account and all amounts deposited therein pursuant to the
      applicable provisions of this Agreement; (iii) property that secured a Mortgage
      Loan and has been acquired by foreclosure, deed in lieu of foreclosure or
      otherwise; (iv) the mortgagee’s rights under the Insurance Policies with respect
      to the Mortgage Loan; and (v) all proceeds of the conversion, voluntary or
      involuntary, of any of the foregoing into cash or other liquid
      property.

     

    Trustee:
      The
      Bank of New York, a New York banking corporation, not in its individual
      capacity, but solely in its capacity as trustee for the benefit of the
      Certificateholders under this Agreement, and any successor thereto, and any
      corporation or national banking association resulting from or surviving any
      consolidation or merger to which it or its successors may be a party and any
      successor trustee as may from time to time be serving as successor trustee
      hereunder.

     

    Trustee
      Advance Notice:
      As
      defined in Section 4.01(d).

     

    Trustee
      Advance Rate:
      With
      respect to any Advance made by the Trustee pursuant to Section 4.01(d), a per
      annum rate of interest determined as of the date of such Advance equal to the
      Prime Rate in effect on such date plus 5.00%.

     

    Trustee
      Fee:
      As to
      any Distribution Date, an amount equal to one-twelfth of the Trustee Fee Rate
      multiplied by the sum of (i) the Pool Stated Principal Balance and (ii) any
      amounts remaining in the Pre-Funding Account (excluding any investment earnings
      thereon) with respect to such Distribution Date.

     

    Trustee
      Fee Rate:
      With
      respect to each Mortgage Loan, the per annum rate agreed upon in writing on
      or
      prior to the Closing Date by the Trustee and the Depositor, which is 0.009%
      per
      annum.

     

    Two-Year
      Hybrid Mortgage Loan:
      A
      Mortgage Loan having a Mortgage Rate that is fixed for 24 months after
      origination thereof before such Mortgage Rate becomes subject to
      adjustment.

     

    Uncertificated
      Principal Balance:
      The
      amount of any REMIC Regular Interest (other than REMIC 2 Regular Interest II-IO)
      outstanding as of any date of determination. As of the Closing Date, the
      Uncertificated Principal Balance of each REMIC Regular Interest (other than
      REMIC 2 Regular Interest II-IO) shall equal the amount set forth in the
      Preliminary Statement hereto as its initial uncertificated balance. On each
      Distribution Date, the Uncertificated Principal Balance of each REMIC Regular
      Interest (other than REMIC 2 Regular Interest II-IO) shall be reduced by all
      distributions of principal made on such REMIC Regular Interest on such
      Distribution Date pursuant to Section 4.10 and, if and to the extent necessary
      and appropriate, shall be further reduced on such Distribution Date by Realized
      Losses as provided in Section 4.11. The Uncertificated Principal Balance of
      REMIC 2 Regular Interest LT-ZZ shall be increased by interest deferrals as
      provided in Section 4.10. The Uncertificated Principal Balance of each REMIC
      Regular Interest shall never be less than zero. 

     

    Uncertificated
      Interest:
      With
      respect to any REMIC Regular Interest for any Distribution Date, one month’s
      interest at the REMIC Remittance Rate applicable to such REMIC Regular Interest
      for such Distribution Date, accrued on the Uncertificated Principal Balance
      or
      Uncertificated Notional Amount thereof immediately prior to such Distribution
      Date. Uncertificated Interest in respect of any REMIC Regular Interest shall
      accrue on the basis of a 360-day year consisting of twelve 30-day months.
      Uncertificated Interest with respect to each Distribution Date, as to any REMIC
      Regular Interest, shall be reduced by an amount equal to the sum of the
      aggregate Prepayment Interest Shortfall, if any, for such Distribution Date
      to
      the extent not covered by payments of Compensating Interest pursuant to Section
      3.05(b), if any, allocated, in each case, to such REMIC Regular Interest
      pursuant to Section 4.10. In addition, Uncertificated Interest with respect
      to
      each Distribution Date, as to any REMIC Regular Interest shall be reduced by
      Realized Losses, if any, allocated to such REMIC Regular Interest pursuant
      to
      Section 4.11.

     

    Uncertificated
      Notional Amount:
      With
      respect to REMIC 2 Regular Interest II-IO and each Distribution Date listed
      below, the aggregate Uncertificated Principal Balance of the REMIC 2 Regular
      Interests ending with the designation “A” listed below:

     

    
      	
              Distribution
                Date

            	 	
              REMIC
                II Regular Interests

            
	
              1

            	 	
              I-1-A
                through I-35-A and II-1-A through II-35-A 

            
	
              2

            	 	
              I-2-A
                through I-35-A and II-2-A through II-35-A 

            
	
              3

            	 	
              I-3-A
                through I-35-A and II-3-A through II-35-A 

            
	
              4

            	 	
              I-4-A
                through I-35-A and II-4-A through II-35-A 

            
	
              5

            	 	
              I-5-A
                through I-35-A and II-5-A through II-35-A 

            
	
              6

            	 	
              I-6-A
                through I-35-A and II-6-A through II-35-A 

            
	
              7

            	 	
              I-7-A
                through I-35-A and II-7-A through II-35-A 

            
	
              8

            	 	
              I-8-A
                through I-35-A and II-8-A through II-35-A 

            
	
              9

            	 	
              I-9-A
                through I-35-A and II-9-A through II-35-A 

            
	
              10

            	 	
              I-10-A
                through I-35-A and II-10-A through II-35-A 

            
	
              11

            	 	
              I-11-A
                through I-35-A and II-11-A through II-35-A

            
	
              12

            	 	
              I-12-A
                through I-35-A and II-12-A through II-35-A 

            
	
              13

            	 	
              I-13-A
                through I-35-A and II-13-A through II-35-A 

            
	
              14

            	 	
              I-14-A
                through I-35-A and II-14-A through II-35-A

            
	
              15

            	 	
              I-15-A
                through I-35-A and II-15-A through II-35-A 

            
	
              16

            	 	
              I-16-A
                through I-35-A and II-16-A through II-35-A 

            
	
              17

            	 	
              I-17-A
                through I-35-A and II-17-A through II-35-A 

            
	
              18

            	 	
              I-18-A
                through I-35-A and II-18-A through II-35-A 

            
	
              19

            	 	
              I-19-A
                through I-35-A and II-19-A through II-35-A 

            
	
              20

            	 	
              I-20-A
                through I-35-A and II-20-A through II-35-A 

            
	
              21

            	 	
              I-21-A
                through I-35-A and II-21-A through II-35-A 

            
	
              22

            	 	
              I-22-A
                through I-35-A and II-22-A through II-35-A

            
	
              23

            	 	
              I-23-A
                through I-35-A and II-23-A through II-35-A

            
	
              24

            	 	
              I-24-A
                through I-35-A and II-24-A through II-35-A 

            
	
              25

            	 	
              I-25-A
                through I-35-A and II-25-A through II-35-A 

            
	
              26

            	 	
              I-26-A
                through I-35-A and II-26-A through II-35-A 

            
	
              27

            	 	
              I-27-A
                through I-35-A and II-27-A through II-35-A

            
	
              28

            	 	
              I-28-A
                through I-35-A and II-28-A through II-35-A 

            
	
              29

            	 	
              I-29-A
                through I-35-A and II-29-A through II-35-A 

            
	
              30

            	 	
              I-30-A
                through I-35-A and II-30-A through II-35-A 

            
	
              31

            	 	
              I-31-A
                through I-35-A and II-31-A through II-35-A 

            
	
              32

            	 	
              I-32-A
                through I-35-A and II-32-A through II-35-A 

            
	
              33

            	 	
              I-33-A
                through I-35-A and II-33-A through II-35-A 

            
	
              34

            	 	
              I-34-A
                and I-35-A and II-34-A and II-35-A 

            
	
              35

            	 	
              I-35-A
                and II-35-A 

            
	
              thereafter

            	 	
              $0.00

            

    

    

    With
      respect to the Class IO Interest and any Distribution Date, an amount equal
      to
      the Uncertificated Notional Amount of the REMIC 2 Regular Interest
      II-IO.

     

    Underwriter’s
      Exemption:
      Prohibited Transaction Exemption 2002-41, 67 Fed. Reg. 54487 (2002), as amended
      (or any successor thereto), or any substantially similar administrative
      exemption granted by the U.S. Department of Labor.

     

    Underwriter:
      Countrywide Securities Corporation.

     

    Unpaid
      Realized Loss Amount:
      For any
      Class of Certificates and any Distribution Date, (x) the portion of the
      aggregate Applied Realized Loss Amount previously allocated to that Class
      remaining unpaid from prior Distribution Dates minus
      (y) any
      increase in the Certificate Principal Balance of that Class due to the
      allocation of Subsequent Recoveries to the Certificate Principal Balance of
      that
      Class pursuant to Section 4.04(h).

     

    Voting
      Rights:
      The
      voting rights of all the Certificates that are allocated to any Certificates
      for
      purposes of the voting provisions hereunder. Voting Rights allocated to each
      Class of Certificates shall be allocated 97% to the Certificates other than
      the
      Class A-R, Class C and Class P Certificates (with the allocation among the
      Certificates to be in proportion to the Certificate Principal Balance of each
      Class relative to the Certificate Principal Balance of all other such Classes),
      and 1% to each of the Class A-R, Class C and Class P Certificates. Voting Rights
      will be allocated among the Certificates of each such Class in accordance with
      their respective Percentage Interests.

     

    Section
      1.02 Certain
      Interpretive Provisions.

     

    All
      terms
      defined in this Agreement shall have the defined meanings when used in any
      certificate, agreement or other document delivered pursuant hereto unless
      otherwise defined therein. For purposes of this Agreement and all such
      certificates and other documents, unless the context otherwise requires: (a)
      accounting terms not otherwise defined in this Agreement, and accounting terms
      partly defined in this Agreement to the extent not defined, shall have the
      respective meanings given to them under generally accepted accounting
      principles; (b) the words “hereof,” “herein” and “hereunder” and words of
      similar import refer to this Agreement (or the certificate, agreement or other
      document in which they are used) as a whole and not to any particular provision
      of this Agreement (or such certificate, agreement or document); (c) references
      to any Section, Schedule or Exhibit are references to Sections, Schedules and
      Exhibits in or to this Agreement, and references to any paragraph, subsection,
      clause or other subdivision within any Section or definition refer to such
      paragraph, subsection, clause or other subdivision of such Section or
      definition; (d) the term “including” means “including without limitation”; (e)
      references to any law or regulation refer to that law or regulation as amended
      from time to time and include any successor law or regulation; (f) references
      to
      any agreement refer to that agreement as amended from time to time; and (g)
      references to any Person include that Person’s permitted successors and
      assigns.

     

    ARTICLE
      II.

    CONVEYANCE
      OF MORTGAGE LOANS;

    REPRESENTATIONS
      AND WARRANTIES

     

    Section
      2.01 Conveyance
      of Mortgage Loans.

     

    (a) Each
      Seller hereby sells, transfers, assigns, sets over and otherwise conveys to
      the
      Depositor, without recourse, all the right, title and interest of such Seller
      in
      and to the applicable Initial Mortgage Loans, including all interest and
      principal received and receivable by such Seller on or with respect to
      applicable Initial Mortgage Loans after the Initial Cut-off Date (to the extent
      not applied in computing the Cut-off Date Principal Balance thereof) or
      deposited into the Certificate Account by the Master Servicer on behalf of
      such
      Seller as part of the Initial Certificate Account Deposit as provided in this
      Agreement, other than principal due on the applicable Initial Mortgage Loans
      on
      or prior to the Initial Cut-off Date and interest accruing prior to the Initial
      Cut-off Date. The Master Servicer confirms that, on behalf of the Sellers,
      concurrently with the transfer and assignment, it has deposited into the
      Certificate Account the Initial Certificate Account Deposit.

     

    Immediately
      upon the conveyance of the Initial Mortgage Loans referred to in the preceding
      paragraph, the Depositor sells, transfers, assigns, sets over and otherwise
      conveys to the Trustee for benefit of the Certificateholders, without recourse,
      all right title and interest in the Initial Mortgage Loans.

     

    CHL
      further agrees (x) to cause The Bank of New York to enter into the Swap Contract
      Administration Agreement as Swap Contract Administrator and (y) to assign all
      of
      its right, title and interest in and to the interest rate swap transaction
      evidenced by the Confirmation, and to cause all of its obligations in respect
      of
      such transaction to be assumed by, the Swap Contract Administrator, on the
      terms
      and conditions set forth in the Swap Contract Novation Agreement.

     

    (b) Subject
      to the execution and delivery of the related Subsequent Transfer Agreement
      as
      provided by Section 2.01(d) and the terms and conditions of this Agreement,
      each
      Seller sells, transfers, assigns, sets over and otherwise conveys to the
      Depositor, without recourse, on each Subsequent Transfer Date, all the right,
      title and interest of such Seller in and to the related Subsequent Mortgage
      Loans, including all interest and principal received and receivable by such
      Seller on or with respect to such Subsequent Mortgage Loans after the related
      Subsequent Cut-off Date (to the extent not applied in computing the Cut-off
      Date
      Principal Balance thereof) or deposited into the Certificate Account by the
      Master Servicer on behalf of such Seller as part of any related Subsequent
      Certificate Account Deposit as provided in this Agreement, other than principal
      due on such Subsequent Mortgage Loans on or prior to the related Subsequent
      Cut-off Date and interest accruing prior to the related Subsequent Cut-off
      Date.

     

    Immediately
      upon the conveyance of the Subsequent Mortgage Loans referred to in the
      preceding paragraph, the Depositor sells, transfers, assigns, sets over and
      otherwise conveys to the Trustee for benefit of the Certificateholders, without
      recourse, all right title and interest in the Subsequent Mortgage
      Loans.

     

    (c) Each
      Seller has entered into this Agreement in consideration for the purchase of
      the
      Mortgage Loans by the Depositor and has agreed to take the actions specified
      herein. The Depositor, concurrently with the execution and delivery of this
      Agreement, hereby sells, transfers, assigns and otherwise conveys to the Trustee
      for the use and benefit of the Certificateholders, without recourse, all right
      title and interest in the portion of the Trust Fund not otherwise conveyed
      to
      the Trustee pursuant to Section 2.01(a) or (b).

     

    (d) On
      any
      Business Day during the Funding Period designated by CHL to the Trustee, the
      Sellers, the Depositor and the Trustee shall complete, execute and deliver
      a
      Subsequent Transfer Agreement. After the execution and delivery of such
      Subsequent Transfer Agreement, on the Subsequent Transfer Date, the Trustee
      shall set aside in the Pre-Funding Account an amount equal to the related
      Subsequent Transfer Date Purchase Amount.

     

    (e) The
      transfer of Subsequent Mortgage Loans on the Subsequent Transfer Date is subject
      to the satisfaction of each of the following conditions:

     

    (1) the
      Trustee and the Underwriter will be provided Opinions of Counsel addressed
      to
      the Rating Agencies as with respect to the sale of the Subsequent Mortgage
      Loans
      conveyed on such Subsequent Transfer Date (such opinions being substantially
      similar to the opinions delivered on the Closing Date to the Rating Agencies
      with respect to the sale of the Initial Mortgage Loans on the Closing Date),
      to
      be delivered as provided in Section 2.01(f);

     

    (2) the
      execution and delivery of such Subsequent Transfer Agreement or conveyance
      of
      the related Subsequent Mortgage Loans does not result in a reduction or
      withdrawal of any ratings assigned to the Certificates by the Rating
      Agencies;

     

    (3) the
      Depositor shall deliver to the Trustee an Officer’s Certificate confirming the
      satisfaction of each of the conditions set forth in this Section 2.01(e)
      required to be satisfied by such Subsequent Transfer Date;

     

    (4) each
      Subsequent Mortgage Loan conveyed on such Subsequent Transfer Date satisfies
      the
      representations and warranties applicable to it under this Agreement, provided,
      however, that with respect to a breach of a representation and warranty with
      respect to a Subsequent Mortgage Loan set forth in this clause (4), the
      obligation under Section 2.03(g) of this Agreement of the applicable Seller,
      to
      cure, repurchase or replace such Subsequent Mortgage Loan shall constitute
      the
      sole remedy against such Seller respecting such breach available to
      Certificateholders, the Depositor or the Trustee;

     

    (5) the
      Subsequent Mortgage Loans conveyed on such Subsequent Transfer Date were
      selected in a manner reasonably believed not to be adverse to the interests
      of
      the Certificateholders;

     

    (6) no
      Subsequent Mortgage Loan conveyed on such Subsequent Transfer Date was 30 or
      more days delinquent;

     

    (7) following
      the conveyance of the Subsequent Mortgage Loans on such Subsequent Transfer
      Date, the characteristics of each Loan Group will not vary by more than the
      amount specified below (other than the percentage of Mortgage Loans secured
      by
      Mortgaged Properties located in the State of California, which will not exceed
      50% of the Mortgage Pool and the percentage of mortgage loans in the Credit
      Grade Categories of “C” or below, which will not exceed 10% of the Mortgage
      Loans in each Loan Group) from the characteristics listed below; provided that
      for the purpose of making such calculations, the characteristics for any Initial
      Mortgage Loan made will be taken as of the Initial Cut-off Date and the
      characteristics for any Subsequent Mortgage Loans will be taken as of the
      Subsequent Cut-off Date; 

     

    
      	
              Loan
                Group 1

            	 	 	 
	
              Characteristic

            	 	
              Value

            	
              Permitted
                Variance or Range

            
	
              Average
                Stated Principal Balance

            	
              $222,932

            	
              10%

            
	
              Weighted
                Average Mortgage Rate

            	
              7.370%

            	
              0.10%

            
	
              Weighted
                Average Original Loan-to-Value Ratio

            	
              81.90%

            	
              3%

            
	
              Weighted
                Average Remaining Term to Maturity

            	
              357
                months

            	
              3
                months

            
	
              Weighted
                Average Credit Bureau Risk Score

            	
              617

            	
              5
                points

            
	 	 	 

    

    

     

    
      	
              Loan
                Group 2

            	 	 	 
	
              Characteristic

            	 	
              Value

            	
              Permitted
                Variance or Range

            
	
              Average
                Stated Principal Balance

            	
              $238,974

            	
              10%

            
	
              Weighted
                Average Mortgage Rate

            	
              7.717%

            	
              0.10%

            
	
              Weighted
                Average Original Loan-to-Value Ratio

            	
              78.55%

            	
              3%

            
	
              Weighted
                Average Remaining Term to Maturity

            	
              358
                months

            	
              3
                months

            
	
              Weighted
                Average Credit Bureau Risk Score

            	
              633

            	
              5
                points

            
	 	 	 

    

    (8) none
      of
      the Sellers or the Depositor is insolvent and neither of the Sellers nor the
      Depositor will be rendered insolvent by the conveyance of Subsequent Mortgage
      Loans on such Subsequent Transfer Date; and

     

    (9) the
      Trustee and the Underwriter will be provided with an Opinion of Counsel, which
      Opinion of Counsel shall not be at the expense of either the Trustee or the
      Trust Fund, addressed to the Trustee, to the effect that such purchase of
      Subsequent Mortgage Loans will not (i) result in the imposition of the tax
      on
“prohibited transactions” on the Trust Fund or contributions after the
Startup
      Date,
      as
      defined in Sections 860F(a)(2) and 860G(d) of the Code, respectively or (ii)
      cause any REMIC formed hereunder to fail to qualify as a REMIC, such opinion
      to
      be delivered as provided in Section 2.01(f).

     

    The
      Trustee shall not be required to investigate or otherwise verify compliance
      with
      these conditions, except for its own receipt of documents specified above,
      and
      shall be entitled to rely on the required Officer’s Certificate. 

     

    (f) Within
      six Business Days after each Subsequent Transfer Date, upon (1) delivery to
      the
      Trustee by the Depositor of the Opinions of Counsel referred to in Section
      2.01(e)(1) and (e)(9), (2) delivery to the Trustee by CHL (on behalf of each
      Seller) of a Loan Number and Borrower Identification Mortgage Loan Schedule
      reflecting the Subsequent Mortgage Loans conveyed on such Subsequent Transfer
      Date and the Loan Group into which each Subsequent Mortgage Loan was conveyed,
      (3) deposit in the Certificate Account by the Master Servicer on behalf of
      the
      Sellers of the applicable Subsequent Certificate Account Deposit, and (4)
      delivery to the Trustee by the Depositor of an Officer’s Certificate confirming
      the satisfaction of each of the conditions precedent set forth in this Section
      2.01(f), the Trustee shall pay the applicable Seller the Subsequent Transfer
      Date Transfer Amount from such funds that were set aside in the Pre-Funding
      Account pursuant to Section 2.01(d). The positive difference, if any, between
      the Subsequent Transfer Date Transfer Amount and the Subsequent Transfer Date
      Purchase Amount shall be re-invested by the Trustee in the Pre-Funding
      Account.

     

    The
      Trustee shall not be required to investigate or otherwise verify compliance
      with
      the conditions set forth in the preceding paragraph, except for its own receipt
      of documents specified above, and shall be entitled to rely on the required
      Officer’s Certificate.

     

    Within
      thirty days after each Subsequent Transfer Date, the Depositor shall deliver
      to
      the Trustee a letter of a nationally recognized firm of independent public
      accountants stating whether or not the Subsequent Mortgage Loans conveyed on
      such Subsequent Transfer Date conform to the characteristics described in
      Section 2.01(e)(6) and (7).

     

    (g) In
      connection with the transfer and assignment of each Mortgage Loan, the Depositor
      has delivered to, and deposited with, the Trustee (or, in the case of the Delay
      Delivery Mortgage Loans, will deliver to, and deposit with, the Trustee within
      the time periods specified in the definition of Delay Delivery Mortgage Loans)
      (except as provided in clause (vi) below) for the benefit of the
      Certificateholders, the following documents or instruments with respect to
      each
      such Mortgage Loan so assigned (with respect to each Mortgage Loan, clause
      (i)
      through (vi) below, together, the “Mortgage File” for each such Mortgage
      Loan):

     

    (i) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of ________________ without recourse”,
      with all intervening endorsements that show a complete chain of endorsement
      from
      the originator to the Person endorsing the Mortgage Note (each such endorsement
      being sufficient to transfer all right, title and interest of the party so
      endorsing, as noteholder or assignee thereof, in and to that Mortgage Note),
      or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note and all such
      intervening endorsements;

     

    (ii) in
      the
      case of each Mortgage Loan that is not a MERS Mortgage Loan, the original
      recorded Mortgage or a copy of such Mortgage, with recording information, and
      in
      the case of each MERS Mortgage Loan, the original Mortgage or a copy of such
      Mortgage, with recording information, noting the presence of the MIN of the
      Mortgage Loan and language indicating that the Mortgage Loan is a MOM Loan
      if
      the Mortgage Loan is a MOM Loan, with evidence of recording indicated thereon,
      or a copy of the Mortgage certified by the public recording office in which
      such
      Mortgage has been recorded;

     

    (iii) in
      the
      case of each Mortgage Loan that is not a MERS Mortgage Loan, a duly executed
      assignment of the Mortgage to “Asset-Backed Certificates, Series 2006-BC2,
      CWABS, Inc., by The Bank of New York, a New York banking corporation, as trustee
      under the Pooling and Servicing Agreement dated as of May 1, 2006, without
      recourse” or a copy of such assignment, with recording information, (each such
      assignment, when duly and validly completed, to be in recordable form and
      sufficient to effect the assignment of and transfer to the assignee thereof,
      under the Mortgage to which such assignment relates);

     

    (iv) the
      original recorded assignment or assignments of the Mortgage or a copy of such
      assignments, with recording information, together with all interim recorded
      assignments of such Mortgage or a copy of such assignments, with recording
      information (in each case noting the presence of a MIN in the case of each
      MERS
      Mortgage Loan);

     

    (v) the
      original or copies of each assumption, modification, written assurance or
      substitution agreement, if any; and

     

    (vi) the
      original or duplicate original lender’s title policy or a copy of lender’s title
      policy or a printout of the electronic equivalent and all riders thereto or,
      in
      the event such original title policy has not been received from the insurer,
      such original or duplicate original lender’s title policy and all riders thereto
      shall be delivered within one year of the Closing Date.

     

    In
      addition, in connection with the assignment of any MERS Mortgage Loan, each
      Seller agrees that it will cause, at such Seller’s own expense, the MERS® System
      to indicate (and provide evidence to the Trustee that it has done so) that
      such
      Mortgage Loans have been assigned by such 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 which are repurchased in accordance
      with
      this Agreement) in such computer files (a) the code “[IDENTIFY TRUSTEE SPECIFIC
      CODE]” in the field “[IDENTIFY THE FIELD NAME FOR TRUSTEE]” which identifies the
      Trustee and (b) the code “[IDENTIFY SERIES SPECIFIC CODE NUMBER]” in the field
“Pool Field” which identifies the series of the Certificates issued in
      connection with such Mortgage Loans. The Sellers further agree that they will
      not, and will not permit the Master Servicer to, and the Master Servicer agrees
      that it will not, alter the codes referenced in this paragraph with respect
      to
      any Mortgage Loan during the term of this Agreement unless and until such
      Mortgage Loan is repurchased in accordance with the terms of this
      Agreement.

     

    In
      the
      event that in connection with any Mortgage Loan that is not a MERS Mortgage
      Loan
      a Seller cannot deliver the original recorded Mortgage or all interim recorded
      assignments of the Mortgage satisfying the requirements of clause (ii), (iii)
      or
      (iv) concurrently with the execution and delivery hereof, such Seller shall
      deliver or cause to be delivered to the Trustee a true copy of such Mortgage
      and
      of each such undelivered interim assignment of the Mortgage each certified
      by
      such Seller, the applicable title company, escrow agent or attorney, or the
      originator of such Mortgage, as the case may be, to be a true and complete
      copy
      of the original Mortgage or assignment of Mortgage submitted for recording.
      For
      any such Mortgage Loan that is not a MERS Mortgage Loan each Seller shall
      promptly deliver or cause to be delivered to the Trustee such original Mortgage
      and such assignment or assignments with evidence of recording indicated thereon
      upon receipt thereof from the public recording official, or a copy thereof,
      certified, if appropriate, by the relevant recording office, but in no event
      shall any such delivery be made later than 270 days following the Closing Date;
      provided that in the event that by such date such Seller is unable to deliver
      or
      cause to be delivered each such Mortgage and each interim assignment by reason
      of the fact that any such documents have not been returned by the appropriate
      recording office, or, in the case of each interim assignment, because the
      related Mortgage has not been returned by the appropriate recording office,
      such
      Seller shall deliver or cause to be delivered such documents to the Trustee
      as
      promptly as possible upon receipt thereof. If the public recording office in
      which a Mortgage or interim assignment thereof is recorded retains the original
      of such Mortgage or assignment, a copy of the original Mortgage or assignment
      so
      retained, with evidence of recording thereon, certified to be true and complete
      by such recording office, shall satisfy a Seller’s obligations in Section 2.01.
      If any document submitted for recording pursuant to this Agreement is (x) lost
      prior to recording or rejected by the applicable recording office, the
      applicable Seller shall immediately prepare or cause to be prepared a substitute
      and submit it for recording, and shall deliver copies and originals thereof
      in
      accordance with the foregoing or (y) lost after recording, the applicable Seller
      shall deliver to the Trustee a copy of such document certified by the applicable
      public recording office to be a true and complete copy of the original recorded
      document. Each Seller shall promptly forward or cause to be forwarded to the
      Trustee (x) from time to time additional original documents evidencing an
      assumption or modification of a Mortgage Loan and (y) any other documents
      required to be delivered by the Depositor or the Master Servicer to the Trustee
      within the time periods specified in this Section 2.01.

     

    With
      respect to each Mortgage Loan other than a MERS Mortgage Loan as to which the
      related Mortgaged Property and Mortgage File are located in (a) the State of
      California or (b) any other jurisdiction under the laws of which the recordation
      of the assignment specified in clause (iii) above is not necessary to protect
      the Trustee’s and the Certificateholders’ interest in the related Mortgage Loan,
      as evidenced by an Opinion of Counsel delivered by CHL to the Trustee and a
      copy
      to the Rating Agencies, in lieu of recording the assignment specified in clause
      (iii) above, the applicable Seller may deliver an unrecorded assignment in
      blank, in form otherwise suitable for recording to the Trustee; provided that
      if
      the related Mortgage has not been returned from the applicable public recording
      office, such assignment, or any copy thereof, of the Mortgage may exclude the
      information to be provided by the recording office. As to any Mortgage Loan
      other than a MERS Mortgage Loan, the procedures of the preceding sentence shall
      be applicable only so long as the related Mortgage File is maintained in the
      possession of the Trustee in the State or jurisdiction described in such
      sentence. In the event that with respect to Mortgage Loans other than MERS
      Mortgage Loans (I) any Seller, the Depositor, the Master Servicer or the NIM
      Insurer gives written notice to the Trustee that recording is required to
      protect the right, title and interest of the Trustee on behalf of the
      Certificateholders in and to any Mortgage Loan, (II) a court recharacterizes
      any
      sale of the Mortgage Loans as a financing, or (III) as a result of any change
      in
      or amendment to the laws of the State or jurisdiction described in the first
      sentence of this paragraph or any applicable political subdivision thereof,
      or
      any change in official position regarding application or interpretation of
      such
      laws, including a holding by a court of competent jurisdiction, such recording
      is so required, the Trustee shall complete the assignment in the manner
      specified in clause (iii) above and CHL shall submit or cause to be submitted
      for recording as specified above or, should CHL fail to perform such
      obligations, the Trustee shall cause the Master Servicer, at the Master
      Servicer’s expense, to cause each such previously unrecorded assignment to be
      submitted for recording as specified above. In the event a Mortgage File is
      released to the Master Servicer as a result of the Master Servicer’s having
      completed a Request for Document Release, the Trustee shall complete the
      assignment of the related Mortgage in the manner specified in clause (iii)
      above.

     

    So
      long
      as the Trustee or its agent maintains an office in the State of California,
      the
      Trustee or its agent shall maintain possession of and not remove or attempt
      to
      remove from the State of California any of the Mortgage Files as to which the
      related Mortgaged Property is located in such State. In the event that a Seller
      fails to record an assignment of a Mortgage Loan as herein provided within
      90
      days of notice of an event set forth in clause (I), (II) or (III) of the
      preceding paragraph, the Master Servicer shall prepare and, if required
      hereunder, file such assignments for recordation in the appropriate real
      property or other records office. Each Seller hereby appoints the Master
      Servicer (and any successor servicer hereunder) as its attorney-in-fact with
      full power and authority acting in its stead for the purpose of such
      preparation, execution and filing.

     

    In
      the
      case of Mortgage Loans that become the subject of a Principal Prepayment between
      the Closing Date (in the case of Initial Mortgage Loans) or related Subsequent
      Transfer Date (in the case of Subsequent Mortgage Loans) and the Cut-off Date,
      CHL shall deposit or cause to be deposited in the Certificate Account the amount
      required to be deposited therein with respect to such payment pursuant to
      Section 3.05 hereof.

     

    Notwithstanding
      anything to the contrary in this Agreement, within thirty days after the Closing
      Date (in the case of Initial Mortgage Loans) or within twenty days after the
      related Subsequent Transfer Date (in the case of Subsequent Mortgage Loans),
      CHL
      (on behalf of each Seller) shall either (i) deliver to the Trustee the Mortgage
      File as required pursuant to this Section 2.01 for each Delay Delivery Mortgage
      Loan or (ii) (A) repurchase the Delay Delivery Mortgage Loan or (B) substitute
      the Delay Delivery Mortgage Loan for a Replacement Mortgage Loan, which
      repurchase or substitution shall be accomplished in the manner and subject
      to
      the conditions set forth in Section 2.03, provided that if CHL fails to deliver
      a Mortgage File for any Delay Delivery Mortgage Loan within the period provided
      in the prior sentence, the cure period provided for in Section 2.02 or in
      Section 2.03 shall not apply to the initial delivery of the Mortgage File for
      such Delay Delivery Mortgage Loan, but rather CHL shall have five (5) Business
      Days to cure such failure to deliver. CHL shall promptly provide each Rating
      Agency with written notice of any cure, repurchase or substitution made pursuant
      to the proviso of the preceding sentence. On or before the thirtieth (30th)
      day
      (or if such thirtieth day is not a Business Day, the succeeding Business Day)
      after the Closing Date (in the case of Initial Mortgage Loans) or within twenty
      days after the related Subsequent Transfer Date (in the case of Subsequent
      Mortgage Loans), the Trustee shall, in accordance with the provisions of Section
      2.02, send a Delay Delivery Certification substantially in the form annexed
      hereto as Exhibit G-3 (with any applicable exceptions noted thereon) for all
      Delay Delivery Mortgage Loans delivered within thirty (30) days after such
      date.
      The Trustee will promptly send a copy of such Delay Delivery Certification
      to
      each Rating Agency.

     

    Each
      Seller has entered into this Agreement in consideration for the purchase of
      the
      Mortgage Loans sold by such Seller to the Depositor and has agreed to take
      the
      actions specified herein. The Depositor, concurrently with the execution and
      delivery of this Agreement, hereby sells, transfers, assigns and otherwise
      conveys to the Trustee for the use and benefit of the Certificateholders,
      without recourse, all right title and interest in the portion of the Trust
      Fund
      not otherwise conveyed to the Trust Fund pursuant to Sections 2.01(a) or
      (b).

     

    Section
      2.02 Acceptance
      by Trustee of the Mortgage Loans.

     

    (a) The
      Trustee acknowledges receipt, subject to the limitations contained in and any
      exceptions noted in the Initial Certification in the form annexed hereto as
      Exhibit G-1 and in the list of exceptions attached thereto, of the documents
      referred to in clauses (i) and (iii) of Section 2.01(g) above with respect
      to
      the Initial Mortgage Loans and all other assets included in the Trust Fund
      and
      declares that it holds and will hold such documents and the other documents
      delivered to it constituting the Mortgage Files, and that it holds or will
      hold
      such other assets included in the Trust Fund, in trust for the exclusive use
      and
      benefit of all present and future Certificateholders.

     

    The
      Trustee agrees to execute and deliver on the Closing Date to the Depositor,
      the
      Master Servicer and CHL (on behalf of each Seller) an Initial Certification
      substantially in the form annexed hereto as Exhibit G-1 to the effect that,
      as
      to each Initial Mortgage Loan listed in the Mortgage Loan Schedule (other than
      any Initial Mortgage Loan paid in full or any Initial Mortgage Loan specifically
      identified in such certification as not covered by such certification), the
      documents described in Section 2.01(g)(i) and, in the case of each Initial
      Mortgage Loan that is not a MERS Mortgage Loan, the documents described in
      Section 2.01(g)(iii) with respect to such Initial Mortgage Loans as are in
      the
      Trustee’s possession and based on its review and examination and only as to the
      foregoing documents, such documents appear regular on their face and relate
      to
      such Initial Mortgage Loan. The Trustee agrees to execute and deliver within
      30
      days after the Closing Date to the Depositor, the Master Servicer and CHL (on
      behalf of each Seller) an Interim Certification substantially in the form
      annexed hereto as Exhibit G-2 to the effect that, as to each Initial Mortgage
      Loan listed in the Mortgage Loan Schedule (other than any Initial Mortgage
      Loan
      paid in full or any Initial Mortgage Loan specifically identified in such
      certification as not covered by such certification) all documents required
      to be
      delivered to the Trustee pursuant to the Agreement with respect to such Initial
      Mortgage Loans are in its possession (except those documents described in
      Section 2.01(g)(vi)) and based on its review and examination and only as to
      the
      foregoing documents, (i) such documents appear regular on their face and relate
      to such Initial Mortgage Loan, and (ii) the information set forth in items
      (i),
      (iv), (v), (vi), (viii), (ix) and (xv) of the definition of the “Mortgage Loan
      Schedule” accurately reflects information set forth in the Mortgage File. On or
      before the thirtieth (30th) day after the Closing Date (or if such thirtieth
      day
      is not a Business Day, the succeeding Business Day), the Trustee shall deliver
      to the Depositor, the Master Servicer and CHL (on behalf of each Seller) a
      Delay
      Delivery Certification with respect to the Initial Mortgage Loans substantially
      in the form annexed hereto as Exhibit G-3, with any applicable exceptions noted
      thereon. The Trustee shall be under no duty or obligation to inspect, review
      or
      examine such documents, instruments, certificates or other papers to determine
      that the same are genuine, enforceable or appropriate for the represented
      purpose or that they have actually been recorded in the real estate records
      or
      that they are other than what they purport to be on their face.

     

    Not
      later
      than 180 days after the Closing Date, the Trustee shall deliver to the
      Depositor, the Master Servicer, CHL (on behalf of each Seller) and any
      Certificateholder that so requests, a Final Certification with respect to the
      Initial Mortgage Loans substantially in the form annexed hereto as Exhibit
      H,
      with any applicable exceptions noted thereon.

     

    In
      connection with the Trustee’s completion and delivery of such Final
      Certification, the Trustee shall review each Mortgage File with respect to
      the
      Initial Mortgage Loans to determine that such Mortgage File contains the
      following documents:

     

    (i) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of ________________ without recourse”,
      with all intervening endorsements that show a complete chain of endorsement
      from
      the originator to the Person endorsing the Mortgage Note (each such endorsement
      being sufficient to transfer all right, title and interest of the party so
      endorsing, as noteholder or assignee thereof, in and to that Mortgage Note),
      or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note and all such
      intervening endorsements; 

     

    (ii) in
      the
      case of each Initial Mortgage Loan that is not a MERS Mortgage Loan, the
      original recorded Mortgage or a copy of such Mortgage, with recording
      information, and in the case of each Initial Mortgage Loan that is a MERS
      Mortgage Loan, the original Mortgage or a copy of such Mortgage, with recording
      information, noting the presence of the MIN of the Initial Mortgage Loan and
      language indicating that the Mortgage Loan is a MOM Loan if the Initial Mortgage
      Loan is a MOM Loan, with evidence of recording indicated thereon, or a copy
      of
      the Mortgage certified by the public recording office in which Mortgage has
      been
      recorded;

     

    (iii) in
      the
      case of each Initial Mortgage Loan that is not a MERS Mortgage Loan, a duly
      executed assignment of the Mortgage or a copy thereof with recording
      information, in either case in the form permitted by Section 2.01;

     

    (iv) the
      original recorded assignment or assignments of the Mortgage or a copy of such
      assignments, with recording information, together with all interim recorded
      assignments of such Mortgage or a copy of such assignments, with recording
      information (in each case noting the presence of a MIN in the case of each
      MERS
      Mortgage Loan);

     

    (v) the
      original or copies of each assumption, modification, written assurance or
      substitution agreement, if any; and

     

    (vi) the
      original or duplicate original lender’s title policy or a copy of lender’s title
      policy or a printout of the electronic equivalent and all riders
      thereto.

     

    If,
      in
      the course of such review, the Trustee finds any document or documents
      constituting a part of such Mortgage File that do not meet the requirements
      of
      clauses (i)-(iv) and (vi) above, the Trustee shall include such exceptions
      in
      such Final Certification (and the Trustee shall state in such Final
      Certification whether any Mortgage File does not then include the original
      or
      duplicate original lender’s title policy or a printout of the electronic
      equivalent and all riders thereto). If the public recording office in which
      a
      Mortgage or assignment thereof is recorded retains the original of such Mortgage
      or assignment, a copy of the original Mortgage or assignment so retained, with
      evidence of recording thereon, certified to be true and complete by such
      recording office, shall be deemed to satisfy the requirements of clause (ii),
      (iii) or (iv) above, as applicable. CHL shall promptly correct or cure such
      defect referred to above within 90 days from the date it was so notified of
      such
      defect and, if CHL does not correct or cure such defect within such period,
      CHL
      shall either (A) if the time to cure such defect expires prior to the end of
      the
      second anniversary of the Closing Date, substitute for the related Initial
      Mortgage Loan a Replacement Mortgage Loan, which substitution shall be
      accomplished in the manner and subject to the conditions set forth in Section
      2.03, or (B) purchase such Initial Mortgage Loan from the Trust Fund within
      90
      days from the date CHL was notified of such defect in writing at the Purchase
      Price of such Initial Mortgage Loan; provided that any such substitution
      pursuant to (A) above or repurchase pursuant to (B) above shall not be effected
      prior to the delivery to the Trustee of the Opinion of Counsel required by
      Section 2.05 hereof and any substitution pursuant to (A) above shall not be
      effected prior to the additional delivery to the Trustee of a Request for File
      Release. No substitution will be made in any calendar month after the
      Determination Date for such month. The Purchase Price for any such Initial
      Mortgage Loan shall be deposited by CHL in the Certificate Account and, upon
      receipt of such deposit and Request for File Release with respect thereto,
      the
      Trustee shall release the related Mortgage File to CHL and shall execute and
      deliver at CHL’s request such instruments of transfer or assignment as CHL has
      prepared, in each case without recourse, as shall be necessary to vest in CHL,
      or a designee, the Trustee’s interest in any Initial Mortgage Loan released
      pursuant hereto. If pursuant to the foregoing provisions CHL repurchases an
      Initial Mortgage Loan that is a MERS Mortgage Loan, the Master Servicer shall
      cause MERS to execute and deliver an assignment of the Mortgage in recordable
      form to transfer the Mortgage from MERS to CHL and shall cause such Mortgage
      to
      be removed from registration on the MERS® System in accordance with MERS’ rules
      and regulations.

     

    The
      Trustee shall retain possession and custody of each Mortgage File in accordance
      with and subject to the terms and conditions set forth herein. Each Seller
      shall
      promptly deliver to the Trustee, upon the execution or receipt thereof, the
      originals of such other documents or instruments constituting the Mortgage
      File
      that come into the possession of such Seller from time to time.

     

    It
      is
      understood and agreed that the obligation of CHL to substitute for or to
      purchase any Mortgage Loan that does not meet the requirements of Section
      2.02(a) above shall constitute the sole remedy respecting such defect available
      to the Trustee, the Depositor and any Certificateholder against any
      Seller.

     

    It
      is
      understood and agreed that the obligation of CHL to substitute for or to
      purchase, pursuant to Section 2.02(a), any Initial Mortgage Loan whose Mortgage
      File contains any document or documents that does not meet the requirements
      of
      clauses (i)-(iv) and (vi) above and which defect is not corrected or cured
      by
      CHL within 90 days from the date it was notified of such defect, shall
      constitute the sole remedy respecting such defect available to the Trustee,
      the
      Depositor and any Certificateholder against any Seller.

     

    (b) The
      Trustee agrees to execute and deliver on the Subsequent Transfer Date to the
      Depositor, the Master Servicer and CHL (on behalf of each Seller) an Initial
      Certification substantially in the form annexed hereto as Exhibit G-4 to the
      effect that, as to each Subsequent Mortgage Loan listed in the Mortgage Loan
      Schedule (other than any Subsequent Mortgage Loan paid in full or any Subsequent
      Mortgage Loan specifically identified in such certification as not covered
      by
      such certification), the documents described in Section 2.01(g)(i) and, in
      the
      case of each Subsequent Mortgage Loan that is not a MERS Mortgage Loan, the
      documents described in Section 2.01(g)(iii), with respect to such Subsequent
      Mortgage Loan are in its possession, and based on its review and examination
      and
      only as to the foregoing documents, such documents appear regular on their
      face
      and relate to such Subsequent Mortgage Loan.

     

    The
      Trustee agrees to execute and deliver within 30 days after the Subsequent
      Transfer Date to the Depositor, the Master Servicer and CHL (on behalf of each
      Seller) an Interim Certification substantially in the form annexed hereto as
      Exhibit G-2 to the effect that, as to each Subsequent Mortgage Loan listed
      in
      the Mortgage Loan Schedule (other than any Subsequent Mortgage Loan paid in
      full
      or any Subsequent Mortgage Loan specifically identified in such certification
      as
      not covered by such certification), all documents required to be delivered
      to it
      pursuant to this Agreement with respect to such Subsequent Mortgage Loan are
      in
      its possession (except those described in Section 2.01(g)(vi)) and based on
      its
      review and examination and only as to the foregoing documents, (i) such
      documents appear regular on their face and relate to such Subsequent Mortgage
      Loan, and (ii) the information set forth in items (i), (iv), (v), (vi), (viii),
      (ix) and (xv) of the definition of the “Mortgage Loan Schedule” accurately
      reflects information set forth in the Mortgage File. On or before the thirtieth
      (30th) day after the Subsequent Transfer Date (or if such thirtieth day is
      not a
      Business Day, the succeeding Business Day), the Trustee shall deliver to the
      Depositor, the Master Servicer and CHL (on behalf of each Seller) a Delay
      Delivery Certification with respect to the Subsequent Mortgage Loans
      substantially in the form annexed hereto as Exhibit G-3, with any applicable
      exceptions noted thereon, together with a Subsequent Certification substantially
      in the form annexed hereto as Exhibit G-4. The Trustee shall be under no duty
      or
      obligation to inspect, review or examine such documents, instruments,
      certificates or other papers to determine that the same are genuine, enforceable
      or appropriate for the represented purpose or that they have actually been
      recorded in the real estate records or that they are other than what they
      purport to be on their face.

     

    Not
      later
      than 180 days after the Subsequent Transfer Date, the Trustee shall deliver
      to
      the Depositor, the Master Servicer, CHL (on behalf of each Seller) and to any
      Certificateholder that so requests a Final Certification with respect to the
      Subsequent Mortgage Loans substantially in the form annexed hereto as Exhibit
      H,
      with any applicable exceptions noted thereon.

     

    In
      connection with the Trustee’s completion and delivery of such Final
      Certification, the Trustee shall review each Mortgage File with respect to
      the
      Subsequent Mortgage Loans to determine that such Mortgage File contains the
      following documents:

     

    (i) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of ________________ without recourse”,
      with all intervening endorsements that show a complete chain of endorsement
      from
      the originator to the Person endorsing the Mortgage Note (each such endorsement
      being sufficient to transfer all right, title and interest of the party so
      endorsing, as noteholder or assignee thereof, in and to that Mortgage Note),
      or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note and all such
      intervening endorsements;

     

    (ii) in
      the
      case of each Subsequent Mortgage Loan that is not a MERS Mortgage Loan, the
      original recorded Mortgage or a copy of such Mortgage, with recording
      information, and in the case of each Subsequent Mortgage Loan that is a MERS
      Mortgage Loan, the original Mortgage or a copy of such Mortgage, with recording
      information, noting the presence of the MIN of the Subsequent Mortgage Loan
      and
      language indicating that the Subsequent Mortgage Loan is a MOM Loan if the
      Subsequent Mortgage Loan is a MOM Loan, with evidence of recording indicated
      thereon, or a copy of the Mortgage certified by the public recording office
      in
      which Mortgage has been recorded;

     

    (iii) in
      the
      case of each Subsequent Mortgage Loan that is not a MERS Mortgage Loan, a duly
      executed assignment of the Mortgage or a copy thereof with recording
      information, in either case in the form permitted by Section 2.01;

     

    (iv) the
      original recorded assignment or assignments of the Mortgage or a copy of such
      assignments, with recording information, together with all interim recorded
      assignments of such Mortgage or a copy of such assignments, with recording
      information (in each case noting the presence of a MIN in the case of each
      MERS
      Mortgage Loan);

     

    (v) the
      original or copies of each assumption, modification, written assurance or
      substitution agreement, if any; and

     

    (vi) the
      original or duplicate original lender’s title policy or a copy of lender’s title
      policy or a printout of the electronic equivalent and all riders
      thereto.

     

    If,
      in
      the course of such review, the Trustee finds any document or documents
      constituting a part of such Mortgage File that do not meet the requirements
      of
      clauses (i)-(iv) and (vi) above, the Trustee shall include such exceptions
      in
      such Final Certification (and the Trustee shall state in such Final
      Certification whether any Mortgage File does not then include the original
      or
      duplicate original lender’s title policy or a printout of the electronic
      equivalent and all riders thereto). If the public recording office in which
      a
      Mortgage or assignment thereof is recorded retains the original of such Mortgage
      or assignment, a copy of the original Mortgage or assignment so retained, with
      evidence of recording thereon, certified to be true and complete by such
      recording office, shall be deemed to satisfy the requirements of clause (ii),
      (iii) or (iv) above, as applicable. CHL shall promptly correct or cure such
      defect referred to above within 90 days from the date it was so notified of
      such
      defect and, if CHL does not correct or cure such defect within such period,
      CHL
      shall either (A) if the time to cure such defect expires prior to the end of
      the
      second anniversary of the Closing Date, substitute for the related Subsequent
      Mortgage Loan a Replacement Mortgage Loan, which substitution shall be
      accomplished in the manner and subject to the conditions set forth in Section
      2.03, or (B) purchase such Subsequent Mortgage Loan from the Trust Fund within
      90 days from the date CHL was notified of such defect in writing at the Purchase
      Price of such Subsequent Mortgage Loan; provided that any such substitution
      pursuant to (A) above or repurchase pursuant to (B) above shall not be effected
      prior to the delivery to the Trustee of the Opinion of Counsel required by
      Section 2.05 hereof and any substitution pursuant to (A) above shall not be
      effected prior to the additional delivery to the Trustee of a Request for File
      Release. No substitution will be made in any calendar month after the
      Determination Date for such month. The Purchase Price for any such Subsequent
      Mortgage Loan shall be deposited by CHL in the Certificate Account and, upon
      receipt of such deposit and Request for File Release with respect thereto,
      the
      Trustee shall release the related Mortgage File to CHL and shall execute and
      deliver at CHL’s request such instruments of transfer or assignment as CHL has
      prepared, in each case without recourse, as shall be necessary to vest in CHL,
      or a designee, the Trustee’s interest in any Subsequent Mortgage Loan released
      pursuant hereto. If pursuant to the foregoing provisions CHL repurchases a
      Subsequent Mortgage Loan that is a MERS Mortgage Loan, the Master Servicer
      shall
      cause MERS to execute and deliver an assignment of the Mortgage in recordable
      form to transfer the Mortgage from MERS to CHL and shall cause such Mortgage
      to
      be removed from registration on the MERS® System in accordance with MERS’ rules
      and regulations. 

     

    The
      Trustee shall retain possession and custody of each Mortgage File in accordance
      with and subject to the terms and conditions set forth herein. Each Seller
      shall
      promptly deliver to the Trustee, upon the execution or receipt thereof, the
      originals of such other documents or instruments constituting the Mortgage
      File
      that come into the possession of such Seller from time to time.

     

    It
      is
      understood and agreed that the obligation of the Sellers to substitute for
      or to
      purchase, pursuant to Section 2.02(b), any Subsequent Mortgage Loan whose
      Mortgage File contains any document or documents that does not meet the
      requirements of clauses (i)-(iv) and (vi) above and which defect is not
      corrected or cured by such Seller within 90 days from the date it was notified
      of such defect, shall constitute the sole remedy respecting such defect
      available to the Trustee, the Depositor and any Certificateholder against the
      Sellers. 

     

    Section
      2.03 Representations,
      Warranties and Covenants of the Master Servicer and the Sellers.

     

    (a) The
      Master Servicer hereby represents and warrants to the Depositor and the Trustee
      as follows, as of the date hereof with respect to the Initial Mortgage Loans,
      and the related Subsequent Transfer Date with respect to the Subsequent Mortgage
      Loans:

     

    (1) The
      Master Servicer is duly organized as a Texas limited partnership and is validly
      existing and in good standing under the laws of the State of Texas and is duly
      authorized and qualified to transact any and all business contemplated by this
      Agreement to be conducted by the Master Servicer in any state in which a
      Mortgaged Property is located or is otherwise not required under applicable
      law
      to effect such qualification and, in any event, is in compliance with the doing
      business laws of any such state, to the extent necessary to ensure its ability
      to enforce each Mortgage Loan, to service the Mortgage Loans in accordance
      with
      the terms of this Agreement and to perform any of its other obligations under
      this Agreement in accordance with the terms hereof.

     

    (2) The
      Master Servicer has the full partnership power and authority to sell and service
      each Mortgage Loan, and to execute, deliver and perform, and to enter into
      and
      consummate the transactions contemplated by this Agreement and has duly
      authorized by all necessary partnership action on the part of the Master
      Servicer the execution, delivery and performance of this Agreement; and this
      Agreement, assuming the due authorization, execution and delivery hereof by
      the
      other parties hereto, constitutes a legal, valid and binding obligation of
      the
      Master Servicer, enforceable against the Master Servicer in accordance with
      its
      terms, except that (a) the enforceability hereof may be limited by bankruptcy,
      insolvency, moratorium, receivership and other similar laws relating to
      creditors’ rights generally and (b) the remedy of specific performance and
      injunctive and other forms of equitable relief may be subject to equitable
      defenses and to the discretion of the court before which any proceeding therefor
      may be brought.

     

    (3) The
      execution and delivery of this Agreement by the Master Servicer, the servicing
      of the Mortgage Loans by the Master Servicer under this Agreement, the
      consummation of any other of the transactions contemplated by this Agreement,
      and the fulfillment of or compliance with the terms hereof are in the ordinary
      course of business of the Master Servicer and will not (A) result in a material
      breach of any term or provision of the certificate of limited partnership,
      partnership agreement or other organizational document of the Master Servicer
      or
      (B) materially conflict with, result in a material breach, violation or
      acceleration of, or result in a material default under, the terms of any other
      material agreement or instrument to which the Master Servicer is a party or
      by
      which it may be bound, or (C) constitute a material violation of any statute,
      order or regulation applicable to the Master Servicer of any court, regulatory
      body, administrative agency or governmental body having jurisdiction over the
      Master Servicer; and the Master Servicer is not in breach or violation of any
      material indenture or other material agreement or instrument, or in violation
      of
      any statute, order or regulation of any court, regulatory body, administrative
      agency or governmental body having jurisdiction over it which breach or
      violation may materially impair the Master Servicer’s ability to perform or meet
      any of its obligations under this Agreement.

     

    (4) The
      Master Servicer is an approved servicer of conventional mortgage loans for
      Fannie Mae and Freddie Mac and is a mortgagee approved by the Secretary of
      Housing and Urban Development pursuant to sections 203 and 211 of the National
      Housing Act.

     

    (5) No
      litigation is pending or, to the best of the Master Servicer’s knowledge,
      threatened, against the Master Servicer that would materially and adversely
      affect the execution, delivery or enforceability of this Agreement or the
      ability of the Master Servicer to service the Mortgage Loans or to perform
      any
      of its other obligations under this Agreement or any Subsequent Transfer
      Agreement in accordance with the terms hereof or thereof.

     

    (6) No
      consent, approval, authorization or order of any court or governmental agency
      or
      body is required for the execution, delivery and performance by the Master
      Servicer of, or compliance by the Master Servicer with, this Agreement or the
      consummation of the transactions contemplated hereby, or if any such consent,
      approval, authorization or order is required, the Master Servicer has obtained
      the same.

     

    (7) The
      Master Servicer is a member of MERS in good standing, and will comply in all
      material respects with the rules and procedures of MERS in connection with
      the
      servicing of the Mortgage Loans for as long as such Mortgage Loans are
      registered with MERS.

     

    (8) The
      Master Servicer has fully furnished and will fully furnish, in accordance with
      the Fair Credit Reporting Act and its implementing regulations, accurate and
      complete information (i.e., favorable and unfavorable) on its borrower credit
      files to the Mortgage Loans to Equifax, Experian, and Trans Union Credit
      Information Company (three of the credit repositories), on a monthly basis
      for
      the Mortgage Loans in Loan Group 1.

     

    (b) CHL
      hereby represents and warrants to the Depositor and the Trustee as follows,
      as
      of the Initial Cut-off Date in the case of the Initial Mortgage Loans and as
      of
      the related Subsequent Cut-off Date in the case of the Subsequent Mortgage
      Loans
      (unless otherwise indicated or the context otherwise requires, percentages
      with
      respect to the Initial Mortgage Loans in the Trust Fund or in a Loan Group
      or
      Loan Groups are measured by the Cut-off Date Principal Balance of the Initial
      Mortgage Loans in the Trust Fund or of the Initial Mortgage Loans in the related
      Loan Group or Loan Groups, as applicable): 

     

    (1) CHL
      is
      duly organized as a New York corporation and is validly existing and in good
      standing under the laws of the State of New York and is duly authorized and
      qualified to transact any and all business contemplated by this Agreement and
      each Subsequent Transfer Agreement to be conducted by CHL in any state in which
      a Mortgaged Property is located or is otherwise not required under applicable
      law to effect such qualification and, in any event, is in compliance with the
      doing business laws of any such state, to the extent necessary to ensure its
      ability to enforce each Mortgage Loan, to sell the CHL Mortgage Loans in
      accordance with the terms of this Agreement and each Subsequent Transfer
      Agreement and to perform any of its other obligations under this Agreement
      and
      each Subsequent Transfer Agreement in accordance with the terms hereof and
      thereof.

     

    (2) CHL
      has
      the full corporate power and authority to sell each CHL Mortgage Loan, and
      to
      execute, deliver and perform, and to enter into and consummate the transactions
      contemplated by this Agreement and each Subsequent Transfer Agreement and has
      duly authorized by all necessary corporate action on the part of CHL the
      execution, delivery and performance of this Agreement and each Subsequent
      Transfer Agreement; and this Agreement and each Subsequent Transfer Agreement,
      assuming the due authorization, execution and delivery hereof by the other
      parties hereto, constitutes a legal, valid and binding obligation of CHL,
      enforceable against CHL in accordance with its terms, except that (a) the
      enforceability hereof may be limited by bankruptcy, insolvency, moratorium,
      receivership and other similar laws relating to creditors’ rights generally and
      (b) the remedy of specific performance and injunctive and other forms of
      equitable relief may be subject to equitable defenses and to the discretion
      of
      the court before which any proceeding therefor may be brought.

     

    (3) The
      execution and delivery of this Agreement and each Subsequent Transfer Agreement
      by CHL, the sale of the CHL Mortgage Loans by CHL under this Agreement and
      each
      Subsequent Transfer Agreement, the consummation of any other of the transactions
      contemplated by this Agreement and each Subsequent Transfer Agreement, and
      the
      fulfillment of or compliance with the terms hereof and thereof are in the
      ordinary course of business of CHL and will not (A) result in a material breach
      of any term or provision of the charter or by-laws of CHL or (B) materially
      conflict with, result in a material breach, violation or acceleration of, or
      result in a material default under, the terms of any other material agreement
      or
      instrument to which CHL is a party or by which it may be bound, or (C)
      constitute a material violation of any statute, order or regulation applicable
      to CHL of any court, regulatory body, administrative agency or governmental
      body
      having jurisdiction over CHL; and CHL is not in breach or violation of any
      material indenture or other material agreement or instrument, or in violation
      of
      any statute, order or regulation of any court, regulatory body, administrative
      agency or governmental body having jurisdiction over it which breach or
      violation may materially impair CHL’s ability to perform or meet any of its
      obligations under this Agreement and each Subsequent Transfer
      Agreement.

     

    (4) CHL
      is an
      approved seller of conventional mortgage loans for Fannie Mae and Freddie Mac
      and is a mortgagee approved by the Secretary of Housing and Urban Development
      pursuant to sections 203 and 211 of the National Housing Act.

     

    (5) No
      litigation is pending or, to the best of CHL’s knowledge, threatened, against
      CHL that would materially and adversely affect the execution, delivery or
      enforceability of this Agreement or any Subsequent Transfer Agreement or the
      ability of CHL to sell the CHL Mortgage Loans or to perform any of its other
      obligations under this Agreement or any Subsequent Transfer Agreement in
      accordance with the terms hereof or thereof.

     

    (6) No
      consent, approval, authorization or order of any court or governmental agency
      or
      body is required for the execution, delivery and performance by CHL of, or
      compliance by CHL with, this Agreement or any Subsequent Transfer Agreement
      or
      the consummation of the transactions contemplated hereby, or if any such
      consent, approval, authorization or order is required, CHL has obtained the
      same.

     

    (7) The
      information set forth on Exhibit F-1 hereto with respect to each Initial
      Mortgage Loan is true and correct in all material respects as of the Closing
      Date.

     

    (8) CHL
      will
      treat the transfer of the CHL Mortgage Loans to the Depositor as a sale of
      the
      CHL Mortgage Loans for all tax, accounting and regulatory purposes.

     

    (9) None
      of
      the Mortgage Loans is delinquent in payment of principal and
      interest.

     

    (10) No
      Mortgage Loan had a Loan-to-Value Ratio at origination in excess of
      100.00%.

     

    (11) Each
      Mortgage Loan is secured by a valid and enforceable first lien on the related
      Mortgaged Property subject only to (1) the lien of non-delinquent current real
      property taxes and assessments, (2) covenants, conditions and restrictions,
      rights of way, easements and other matters of public record as of the date
      of
      recording of such Mortgage, such exceptions appearing of record being acceptable
      to mortgage lending institutions generally or specifically reflected in the
      appraisal made in connection with the origination of the related Mortgage Loan
      and (3) other matters to which like properties are commonly subject that do
      not
      materially interfere with the benefits of the security intended to be provided
      by such Mortgage.

     

    (12) Immediately
      prior to the assignment of each CHL Mortgage Loan to the Depositor, CHL had
      good
      title to, and was the sole owner of, such CHL Mortgage Loan free and clear
      of
      any pledge, lien, encumbrance or security interest and had full right and
      authority, subject to no interest or participation of, or agreement with, any
      other party, to sell and assign the same pursuant to this
      Agreement.

     

    (13) There
      is
      no delinquent tax or assessment lien against any Mortgaged
      Property.

     

    (14) There
      is
      no valid offset, claim, defense or counterclaim to any Mortgage Note or
      Mortgage, including the obligation of the Mortgagor to pay the unpaid principal
      of or interest on such Mortgage Note.

     

    (15) There
      are
      no mechanics’ liens or claims for work, labor or material affecting any
      Mortgaged Property that are or may be a lien prior to, or equal with, the lien
      of such Mortgage, except those that are insured against by the title insurance
      policy referred to in item (18) below.

     

    (16) As
      of the
      Closing Date in the case of the Initial Mortgage Loans and as of the related
      Subsequent Transfer Date in the case of the Subsequent Mortgage Loans, to the
      best of CHL’s knowledge, each Mortgaged Property is free of material damage and
      is in good repair.

     

    (17) As
      of the
      Closing Date in the case of the Initial Mortgage Loans and as of the related
      Subsequent Transfer Date in the case of the Subsequent Mortgage Loans, neither
      CHL nor any prior holder of any Mortgage has modified the Mortgage in any
      material respect (except that a Mortgage Loan may have been modified by a
      written instrument that has been recorded or submitted for recordation, if
      necessary, to protect the interests of the Certificateholders and the original
      or a copy of which has been delivered to the Trustee); satisfied, cancelled
      or
      subordinated such Mortgage in whole or in part; released the related Mortgaged
      Property in whole or in part from the lien of such Mortgage; or executed any
      instrument of release, cancellation, modification (except as expressly permitted
      above) or satisfaction with respect thereto.

     

    (18) A
      lender’s policy of title insurance together with a condominium endorsement and
      extended coverage endorsement, if applicable, in an amount at least equal to
      the
      Cut-off Date Principal Balance of each such Mortgage Loan or a commitment
      (binder) to issue the same was effective on the date of the origination of
      each
      Mortgage Loan, each such policy is valid and remains in full force and effect,
      and each such policy was issued by a title insurer qualified to do business
      in
      the jurisdiction where the Mortgaged Property is located and acceptable to
      Fannie Mae and Freddie Mac and is in a form acceptable to Fannie Mae and Freddie
      Mac, which policy insures the Sellers and successor owners of indebtedness
      secured by the insured Mortgage, as to the first priority lien, of the Mortgage
      subject to the exceptions set forth in paragraph (11) above; to the best of
      CHL’s knowledge, no claims have been made under such mortgage title insurance
      policy and no prior holder of the related Mortgage, including any Seller, has
      done, by act or omission, anything that would impair the coverage of such
      mortgage title insurance policy.

     

    (19) No
      Initial Mortgage Loan was the subject of a Principal Prepayment in full between
      the Initial Cut-off Date and the Closing Date. No Subsequent Mortgage Loan
      was
      the subject of a Principal Prepayment in full between the Subsequent Cut-off
      Date and the Subsequent Transfer Date.

     

    (20) To
      the
      best of CHL’s knowledge, all of the improvements that were included for the
      purpose of determining the Appraised Value of the Mortgaged Property lie wholly
      within the boundaries and building restriction lines of such property, and
      no
      improvements on adjoining properties encroach upon the Mortgaged
      Property.

     

    (21) To
      the
      best of CHL’s knowledge, no improvement located on or being part of the
      Mortgaged Property is in violation of any applicable zoning law or regulation.
      To the best of CHL’s knowledge, all inspections, licenses and certificates
      required to be made or issued with respect to all occupied portions of the
      Mortgaged Property and, with respect to the use and occupancy of the same,
      including but not limited to certificates of occupancy and fire underwriting
      certificates, have been made or obtained from the appropriate authorities,
      unless the lack thereof would not have a material adverse effect on the value
      of
      such Mortgaged Property, and the Mortgaged Property is lawfully occupied under
      applicable law.

     

    (22) The
      Mortgage Note and the related Mortgage are genuine, and each is the legal,
      valid
      and binding obligation of the maker thereof, enforceable in accordance with
      its
      terms and under applicable law, except that (a) the enforceability thereof
      may
      be limited by bankruptcy, insolvency, moratorium, receivership and other similar
      laws relating to creditors’ rights generally and (b) the remedy of specific
      performance and injunctive and other forms of equitable relief may be subject
      to
      equitable defenses and to the discretion of the court before which any
      proceeding therefor may be brought. To the best of CHL’s knowledge, all parties
      to the Mortgage Note and the Mortgage had legal capacity to execute the Mortgage
      Note and the Mortgage and each Mortgage Note and Mortgage have been duly and
      properly executed by such parties.

     

    (23) The
      proceeds of the Mortgage Loan have been fully disbursed, there is no requirement
      for future advances thereunder, and any and all requirements as to completion
      of
      any on-site or off-site improvements and as to disbursements of any escrow
      funds
      therefor have been complied with. All costs, fees and expenses incurred in
      making, or closing or recording the Mortgage Loan were paid.

     

    (24) The
      related Mortgage contains customary and enforceable provisions that render
      the
      rights and remedies of the holder thereof adequate for the realization against
      the Mortgaged Property of the benefits of the security, including, (i) in the
      case of a Mortgage designated as a deed of trust, by trustee’s sale, and (ii)
      otherwise by judicial foreclosure.

     

    (25) With
      respect to each Mortgage constituting a deed of trust, a trustee, duly qualified
      under applicable law to serve as such, has been properly designated and
      currently so serves and is named in such Mortgage, and no fees or expenses
      are
      or will become payable by the Certificateholders to the trustee under the deed
      of trust, except in connection with a trustee’s sale after default by the
      Mortgagor.

     

    (26) Each
      Mortgage Note and each Mortgage is acceptable in form to Fannie Mae and Freddie
      Mac.

     

    (27) There
      exist no deficiencies with respect to escrow deposits and payments, if such
      are
      required, for which customary arrangements for repayment thereof have not been
      made, and no escrow deposits or payments of other charges or payments due the
      Sellers have been capitalized under the Mortgage or the related Mortgage
      Note.

     

    (28) The
      origination, underwriting, servicing and collection practices with respect
      to
      each Mortgage Loan have been in all respects legal, proper, prudent and
      customary in the mortgage lending and servicing business, as conducted by
      prudent lending institutions which service mortgage loans of the same type
      in
      the jurisdiction in which the Mortgaged Property is located.

     

    (29) There
      is
      no pledged account or other security other than real estate securing the
      Mortgagor’s obligations.

     

    (30) No
      Mortgage Loan has a shared appreciation feature, or other contingent interest
      feature.

     

    (31) Each
      Mortgage Loan contains a customary “due on sale” clause.

     

    (32) No
      less
      than approximately the percentage specified in the Collateral Schedule of the
      Initial Mortgage Loans in Loan Group 1 and Loan Group 2 are secured by single
      family detached dwellings. No more than approximately the percentage specified
      in the Collateral Schedule of the Initial Mortgage Loans in Loan Group 1 and
      Loan Group 2 are secured by two- to four-family dwellings. No more than
      approximately the percentage specified in the Collateral Schedule of the Initial
      Mortgage Loans in Loan Group 1 and Loan Group 2 are secured by low-rise
      condominium units. No more than approximately the percentage specified in the
      Collateral Schedule of the Initial Mortgage Loans in Loan Group 1 and Loan
      Group
      2 are secured by high-rise condominium units. No more than approximately the
      percentage specified in the Collateral Schedule of the Initial Mortgage Loans
      in
      Loan Group 1 and Loan Group 2 are secured by manufactured housing. No more
      than
      approximately the percentage specified in the Collateral Schedule of the Initial
      Mortgage Loans in Loan Group 1 and Loan Group 2 are secured by
      PUDs.

     

    (33) Each
      Initial Mortgage Loan in Loan Group 1 and Loan Group 2 was originated on or
      after the date specified in the Collateral Schedule.

     

    (34) Each
      Initial Mortgage Loan that is an Adjustable Rate Mortgage Loan, other than
      a
      One-Year Hybrid Mortgage Loan, Two-Year Hybrid Mortgage Loan, a Three-Year
      Hybrid Mortgage Loan, a Five-Year Hybrid Mortgage Loan or a Ten-Year Hybrid
      Mortgage Loan, had an initial Adjustment Date no later than the applicable
      date
      specified on the Collateral Schedule; each Initial Mortgage Loan that is a
      One-Year Hybrid Mortgage Loan had an initial Adjustment Date no later than
      the
      applicable date specified on the Collateral Schedule ; each Initial Mortgage
      Loan that is a Two-Year Hybrid Mortgage Loan had an initial Adjustment Date
      no
      later than the applicable date specified on the Collateral Schedule; each
      Initial Mortgage Loan that is a Three-Year Hybrid Mortgage Loan had an initial
      Adjustment Date no later than the applicable date specified on the Collateral
      Schedule; each Initial Mortgage Loan that is a Five-Year Hybrid Mortgage Loan
      had an initial Adjustment Date no later than the applicable date specified
      on
      the Collateral Schedule; and and each Initial Mortgage Loan that is a Ten-Year
      Hybrid Mortgage Loan had an initial Adjustment Date no later than the applicable
      date specified on the Collateral Schedule

     

    (35) Approximately
      the percentage specified in the Collateral Schedule of the Initial Mortgage
      Loans in Loan Group 1 and Loan Group 2 provide for a Prepayment
      Charge.

     

    (36) On
      the
      basis of representations made by the Mortgagors in their loan applications,
      no
      more than approximately the percentage specified in the Collateral Schedule
      of
      the Initial Mortgage Loans in Loan Group 1 and Loan Group 2, respectively,
      are
      secured by investor properties, and no less than approximately the percentage
      specified in the Collateral Schedule of the Initial Mortgage Loans in Loan
      Group
      1 and Loan Group 2 respectively, are secured by owner-occupied Mortgaged
      Properties that are primary residences.

     

    (37) At
      the
      Cut-off Date, the improvements upon each Mortgaged Property are covered by
      a
      valid and existing hazard insurance policy with a generally acceptable carrier
      that provides for fire and extended coverage and coverage for such other hazards
      as are customary in the area where the Mortgaged Property is located in an
      amount that is at least equal to the lesser of (i) the maximum insurable value
      of the improvements securing such Mortgage Loan or (ii) the greater of (a)
      the
      outstanding principal balance of the Mortgage Loan and (b) an amount such that
      the proceeds of such policy shall be sufficient to prevent the Mortgagor and/or
      the mortgagee from becoming a co-insurer. If the Mortgaged Property is a
      condominium unit, it is included under the coverage afforded by a blanket policy
      for the condominium unit. All such individual insurance policies and all flood
      policies referred to in item (38) below contain a standard mortgagee clause
      naming the applicable Seller or the original mortgagee, and its successors
      in
      interest, as mortgagee, and the applicable Seller has received no notice that
      any premiums due and payable thereon have not been paid; the Mortgage obligates
      the Mortgagor thereunder to maintain all such insurance, including flood
      insurance, at the Mortgagor’s cost and expense, and upon the Mortgagor’s failure
      to do so, authorizes the holder of the Mortgage to obtain and maintain such
      insurance at the Mortgagor’s cost and expense and to seek reimbursement therefor
      from the Mortgagor.

     

    (38) If
      the
      Mortgaged Property is in an area identified in the Federal Register by the
      Federal Emergency Management Agency as having special flood hazards, a flood
      insurance policy in a form meeting the requirements of the current guidelines
      of
      the Flood Insurance Administration is in effect with respect to such Mortgaged
      Property with a generally acceptable carrier in an amount representing coverage
      not less than the least of (A) the original outstanding principal balance of
      the
      Mortgage Loan, (B) the minimum amount required to compensate for damage or
      loss
      on a replacement cost basis, or (C) the maximum amount of insurance that is
      available under the Flood Disaster Protection Act of 1973, as
      amended.

     

    (39) To
      the
      best of CHL’s knowledge, there is no proceeding occurring, pending or threatened
      for the total or partial condemnation of the Mortgaged Property.

     

    (40) There
      is
      no material monetary default existing under any Mortgage or the related Mortgage
      Note and, to the best of CHL’s knowledge, there is no material event that, with
      the passage of time or with notice and the expiration of any grace or cure
      period, would constitute a default, breach, violation or event of acceleration
      under the Mortgage or the related Mortgage Note; and no Seller has waived any
      default, breach, violation or event of acceleration.

     

    (41) Each
      Mortgaged Property is improved by a one- to four-family residential dwelling,
      including condominium units and dwelling units in PUDs. To the best of CHL’s
      knowledge, no improvement to a Mortgaged Property includes a cooperative or
      a
      mobile home or constitutes other than real property under state
      law.

     

    (42) Each
      Mortgage Loan is being serviced by the Master Servicer.

     

    (43) Any
      future advances made prior to the Cut-off Date have been consolidated with
      the
      outstanding principal amount secured by the Mortgage, and the secured principal
      amount, as consolidated, bears a single interest rate and single repayment
      term
      reflected on the Mortgage Loan Schedule. The consolidated principal amount
      does
      not exceed the original principal amount of the Mortgage Loan. The Mortgage
      Note
      does not permit or obligate the Master Servicer to make future advances to
      the
      Mortgagor at the option of the Mortgagor.

     

    (44) All
      taxes, governmental assessments, insurance premiums, water, sewer and municipal
      charges, leasehold payments or ground rents that previously became due and
      owing
      have been paid, or an escrow of funds has been established in an amount
      sufficient to pay for every such item that remains unpaid and that has been
      assessed, but is not yet due and payable. Except for (A) payments in the nature
      of escrow payments, and (B) interest accruing from the date of the Mortgage
      Note
      or date of disbursement of the Mortgage proceeds, whichever is later, to the
      day
      that precedes by one month the Due Date of the first installment of principal
      and interest, including without limitation, taxes and insurance payments, the
      Master Servicer has not advanced funds, or induced, solicited or knowingly
      received any advance of funds by a party other than the Mortgagor, directly
      or
      indirectly, for the payment of any amount required by the Mortgage.

     

    (45) The
      Mortgage Loans originated by CHL were underwritten in all material respects
      in
      accordance with CHL’s underwriting guidelines for credit blemished quality
      mortgage loans or, with respect to Mortgage Loans purchased by CHL were
      underwritten in all material respects in accordance with customary and prudent
      underwriting guidelines generally used by originators of credit blemished
      quality mortgage loans.

     

    (46) Prior
      to
      the approval of the Mortgage Loan application, an appraisal of the related
      Mortgaged Property was obtained from a qualified appraiser, duly appointed
      by
      the originator, who had no interest, direct or indirect, in the Mortgaged
      Property or in any loan made on the security thereof, and whose compensation
      is
      not affected by the approval or disapproval of the Mortgage Loan; such appraisal
      is in a form acceptable to Fannie Mae and Freddie Mac.

     

    (47) None
      of
      the Mortgage Loans is a graduated payment mortgage loan or a growing equity
      mortgage loan, and no Mortgage Loan is subject to a buydown or similar
      arrangement.

     

    (48) The
      Mortgage Rates borne by the Initial Mortgage Loans in Loan Group 1 and Loan
      Group 2 as of the Cut-off Date ranged between the approximate per annum
      percentages specified on the Collateral Schedule and the weighted average
      Mortgage Rate as of the Cut-off Date was approximately the per annum rate
      specified on the Collateral Schedule.

     

    (49) The
      Mortgage Loans were selected from among the outstanding one- to four-family
      mortgage loans in the applicable Seller’s portfolio at the Closing Date as to
      which the representations and warranties made as to the Mortgage Loans set
      forth
      in this Section 2.03(b) and Sections 2.03(c) and 2.03(d) can be made. No
      selection was made in a manner that would adversely affect the interests of
      Certificateholders.

     

    (50) The
      Gross
      Margins on the Initial Mortgage Loans in Loan Group 1 and Loan Group 2 range
      between the approximate percentages specified on the Collateral Schedule, and
      the weighted average Gross Margin was approximately the percentage specified
      in
      the Collateral Schedule.

     

    (51) Each
      of
      the Initial Mortgage Loans in the Mortgage Pool has a Due Date on or before
      the
      date specified in the Collateral Schedule.

     

    (52) The
      Mortgage Loans, individually and in the aggregate, conform in all material
      respects to the descriptions thereof in the Prospectus Supplement.

     

    (53) There
      is
      no obligation on the part of any Seller under the terms of the Mortgage or
      related Mortgage Note to make payments in addition to those made by the
      Mortgagor.

     

    (54) Any
      leasehold estate securing a Mortgage Loan has a term of not less than five
      years
      in excess of the term of the related Mortgage Loan.

     

    (55) Each
      Mortgage Loan represents a “qualified mortgage” within the meaning of Section
      860(a)(3) of the Code (but without regard to the rule in Treasury Regulation
§
1.860G-2(f)(2) that treats a defective obligation as a qualified mortgage,
      or
      any substantially similar successor provision) and applicable Treasury
      regulations promulgated thereunder.

     

    (56) No
      Mortgage Loan was either a “consumer credit contract” or a “purchase money loan”
as such terms are defined in 16 C.F.R. § 433 nor is any Mortgage Loan a
“mortgage” as defined in 15 U.S.C. § 1602(aa).

     

    (57) To
      the
      extent required under applicable law, each originator and subsequent mortgagee
      or servicer of the Mortgage Loan complied with all licensing requirements and
      was authorized to transact and do business in the jurisdiction in which the
      related Mortgaged Property is located at all times when it held or serviced
      the
      Mortgage Loan. Any and all requirements of any federal, state or local laws
      or
      regulations, including, without limitation, usury, truth-in-lending, real estate
      settlement procedures, consumer credit protection, anti-predatory lending,
      fair
      credit reporting, unfair collection practice, equal credit opportunity, fair
      housing and disclosure laws and regulations, applicable to the solicitation,
      origination, collection and servicing of such Mortgage Loan have been complied
      with in all material respects; and any obligations of the holder of the Mortgage
      Note, Mortgage and other loan documents have been complied with in all material
      respects; servicing of each Mortgage Loan has been in accordance with prudent
      mortgage servicing standards, any applicable laws, rules and regulations and
      in
      accordance with the terms of the Mortgage Notes, Mortgage and other loan
      documents, whether such origination and servicing was done by the applicable
      Seller, its affiliates, or any third party which originated the Mortgage Loan
      on
      behalf of, or sold the Mortgage Loan to, any of them, or any servicing agent
      of
      any of the foregoing.

     

    (58) The
      methodology used in underwriting the extension of credit for the Mortgage Loan
      employs objective mathematical principles which relate the borrower’s income,
      assets and liabilities to the proposed payment and such underwriting methodology
      does not rely on the extent of the borrower’s equity in the collateral as the
      principal determining factor in approving such credit extension. Such
      underwriting methodology confirmed that at the time of origination
      (application/approval) the borrower had a reasonable ability to make timely
      payments on the Mortgage Loan.

     

    (59) No
      borrower was required to purchase any credit life, disability, accident or
      health insurance product as a condition of obtaining the extension of credit.
      No
      borrower obtained a prepaid single-premium credit life, disability, accident
      or
      health insurance policy in connection with the origination of the Mortgage
      Loan.

     

    (60) If
      the
      Mortgage Loan provides that the interest rate on the principal balance of the
      related Mortgage Loan may be adjusted, all of the terms of the related Mortgage
      pertaining to interest rate adjustments, payment adjustments and adjustments
      of
      the outstanding principal balance have been made in accordance with the terms
      of
      the related Mortgage Note and applicable law and are enforceable and such
      adjustments will not affect the priority of the Mortgage lien.

     

    (61) The
      Mortgaged Property complies with all applicable laws, rules and regulations
      relating to environmental matters, including but not limited to those relating
      to radon, asbestos and lead paint and no Seller nor, to the best of CHL’s
      knowledge, the Mortgagor, has received any notice of any violation or potential
      violation of such law.

     

    (62) There
      is
      no action, suit or proceeding pending, or to the best of CHL’s knowledge,
      threatened or likely to be asserted with respect to the Mortgage Loan against
      or
      affecting any Seller before or by any court, administrative agency, arbitrator
      or governmental body.

     

    (63) No
      action, inaction, or event has occurred and no state of fact exists or has
      existed that has resulted or will result in the exclusion from, denial of,
      or
      defense to coverage under any applicable hazard insurance policy, irrespective
      of the cause of such failure of coverage. In connection with the placement
      of
      any such insurance, no commission, fee, or other compensation has been or will
      be received by CHL or any designee of CHL or any corporation in which CHL or
      any
      officer, director, or employee had a financial interest at the time of placement
      of such insurance.

     

    (64) Each
      Mortgage Loan has a fully assignable life of loan tax service contract which
      may
      be assigned without the payment of any fee.

     

    (65) No
      Mortgagor has notified CHL or the Master Servicer on CHL’s behalf, and CHL has
      no knowledge, of any relief requested or allowed to a Mortgagor under the Relief
      Act or any similar state or local law.

     

    (66) Each
      Mortgage Loan was originated by a savings and loan association, savings bank,
      commercial bank, credit union, insurance company, or mortgage banking company
      which is supervised and examined by a federal or state authority, or by a
      mortgagee approved by the Secretary of Housing and Urban Development pursuant
      to
      Sections 2.03 and 2.11 of the National Housing Act.

     

    (67) Each
      Mortgage Loan was (A) originated no earlier than six months prior to the time
      the applicable Seller purchased such Mortgage Loan pursuant to a mortgage loan
      purchase agreement or other similar agreement and (B) underwritten or
      reunderwritten by the applicable Seller in accordance with the applicable
      Seller’s underwriting guidelines in effect at the time the loan was underwritten
      or reunderwritten, as applicable.

     

    (68) Each
      Mortgage Loan, at the time it was originated and as of the Closing Date or
      the
      related Subsequent Transfer Date, as applicable, complied in all material
      respects with applicable local, state and federal laws, including, but not
      limited to, all predatory and abusive lending laws.

     

    (69) None
      of
      the Mortgage Loans is a “high cost” mortgage loan as defined by applicable
      federal, state and local predatory and abusive lending laws.

     

    (70) Each
      Prepayment Charge is enforceable and was originated in compliance with all
      applicable federal, state and local laws.

     

    (71) None
      of
      the Mortgage Loans that are secured by property located in the State of Illinois
      are in violation of the provisions of the Illinois Interest Act; 815 Ill. Comp.
      Stat. 205/0.01 (2004).

     

    (72) There
      is
      no Mortgage Loan in the Trust Fund that was originated on or after March 7,
      2003, which is a “high cost home loan” as defined under the Georgia Fair Lending
      Act.

     

    (73) No
      Mortgage Loan in the Trust Fund is a High Cost Loan or Covered Loan, as
      applicable (as such terms are defined in the then-current Standard & Poor’s
      LEVELS® Glossary which is now Version 5.6(d), Appendix E) and no Mortgage Loan
      originated on or after October 1, 2002 through March 6, 2003 is governed by
      the
      Georgia Fair Lending Act.

     

    (74) Each
      Mortgage Loan is secured by a “single family residence” within the meaning of
      Section 25(e)(10) of the Internal Revenue Code of 1986 (as amended) (the
“Code”). The fair market value of the manufactured home securing each Mortgage
      Loan was at least equal to 80% of the adjusted issue price of the contract
      at
      either (i) the time the contract was originated (determined pursuant to the
      REMIC Provisions) or (ii) the time the contract is transferred to the purchaser.
      Each Mortgage Loan is a “qualified mortgage” under Section 860G(a)(3) of the
      Code.

     

    (75) No
      Mortgage Loan in the Trust Fund is a “high cost home,” “covered” (excluding home
      loans defined as "covered home loans" in the New Jersey Home Ownership Security
      Act of 2002 that were originated between November 26, 2003 and July 7, 2004),
      “high risk home” or “predatory” loan under any applicable state, federal or
      local law (or a similarly classified loan using different terminology under
      a
      law imposing heightened regulatory scrutiny or additional legal liability for
      residential mortgage loans having high interest rates, points and/or
      fees).

     

    (76) There
      is
      no Mortgage Loan in the Trust Fund that was originated on or after October
      1,
      2002 and before March 7, 2003, which is secured by property located in the
      State
      of Georgia. 

     

    (77) Additional
      Representations and Warranties relating solely to the Mortgage Loans in Loan
      Group 1:

     

    (A) With
      respect to any Group 1 Mortgage Loan that contains a provision permitting
      imposition of a penalty upon a prepayment prior to maturity: (a) the mortgage
      loan provides some benefit to the borrower in exchange for accepting such
      prepayment penalty; (b) the mortgage loan’s originator had a written policy of
      offering the borrower, or requiring third-party brokers to offer the borrower,
      the option of obtaining a mortgage loan that did not require payment of such
      a
      penalty; (c) the prepayment penalty was adequately disclosed to the borrower
      pursuant to applicable state and federal law; (d) the mortgage loan does not
      provide for prepayment penalty for a term in excess of five years; in each
      case
      unless the loan was modified to reduce the prepayment period to no more than
      three years from the date of the note and the borrower was notified in writing
      of such reduction in prepayment period; and (e) such prepayment penalty will
      not
      be imposed in any instance where the mortgage loan is accelerated or paid off
      in
      connection with the workout of a delinquent mortgage or due to the borrower’s
      default, notwithstanding that the terms of the mortgage loan or state or federal
      law might permit the imposition of such penalty. 

     

    (B) The
      Master Servicer has fully furnished, in accordance with the Fair Credit
      Reporting Act and its implementing regulations, accurate and complete
      information (i.e., favorable and unfavorable) on its borrower credit files
      related to the Group 1 Mortgage Loans to Equifax, Experian and Trans Union
      Credit Information Company (three of the nationally recognized credit bureaus)
      on a monthly basis.

     

    (C) The
      original principal balance of each Group 1 Mortgage Loan is within the dollar
      amount limits of Freddie Mac and Fannie Mae for conforming one- to four-family
      mortgage loans.

     

    (D) No
      Group
      1 Mortgage Loan originated between October 1, 2002 and March 7, 2003 is subject
      to the Georgia Fair Lending Act, as amended. No Group 1 Mortgage Loan originated
      between October 1, 2002 and March 7, 2003 is secured by a Mortgaged Property
      located in the state of Georgia, and there is no Group 1 Mortgage Loan
      originated on or after March 7, 2003 that is a “high cost home loan” as defined
      under the Georgia Fair Lending Act.

     

    (E) None
      of
      the Group 1 Mortgage Loans are “high cost” loans as defined by applicable
      predatory and abusive lending laws.

     

    (F) None
      of
      the Group 1 Mortgage Loans are covered by the Home Ownership and Equity
      Protection Act of 1994 (“HOEPA”).

     

    (G) No
      Group
      1 Mortgage Loan is a “High-Cost Home Loan” as defined in the New Jersey Home
      Ownership Act effective November 27, 2003 (N.J.S.A. 46:10B-22 et
      seq.).

     

    (H) No
      Group
      1 Mortgage Loan is a “High-Cost Home Loan” as defined in the New Mexico Home
      Loan Protection Act effective January 1, 2004 (N.M. Stat. Ann. §§ 58-21a-1 et
      seq.).

     

    (I) No
      Group
      1 Mortgage Loan is a “High-Cost Home Mortgage Loan” as defined in the
      Massachusetts Predatory Home Loan Practices Act effective November 7, 2004
      (Mass. Gen. Law ch. 183C).

     

    (J) No
      Group
      1 Mortgage Loan originated on or after January 1, 2005 is a “High-Cost Home
      Loan” as defined in the Indiana Home Loan Practices Act, effective January 1,
      2005 (Ind. Code Ann. Sections 24-9-1 through 24-9-9).

     

    (K) All
      of
      the Group 1 Mortgage Loans were originated in compliance with all applicable
      laws, including, but not limited to, all applicable anti-predatory and abusive
      lending laws.

     

    (L) No
      Group
      1 Mortgage Loan is a High Cost Loan or Covered Loan, as applicable, and with
      respect to the foregoing, the terms “High Cost Loan” and “Covered Loan” have the
      meaning assigned to them in the then current Standard & Poor’s LEVELS®
Version 5.6d Glossary Revised, Appendix E which is attached hereto as Exhibit
      Q
      (the “Glossary”) where (x) a “High Cost Loan” is each loan identified in the
      column “Category under applicable anti-predatory lending law” of the table
      entitled “Standard & Poor's High Cost Loan Categorization” in the Glossary
      as each such loan is defined in the applicable anti-predatory lending law of
      the
      State or jurisdiction specified in such table and (y) a “Covered Loan” is each
      loan identified in the column “Category under applicable anti-predatory lending
      law” of the table entitled “Standard & Poor’s Covered Loan Categorization”
in the Glossary as each such loan is defined in the applicable anti-predatory
      lending law of the State or jurisdiction specified in such table.

     

    (M) No
      Group
      1 Mortgage Loan originated between October 1, 2002 and March 7, 2003 is subject
      to the Georgia Fair Lending Act, as amended. No Group 1 Mortgage Loan originated
      between October 1, 2002 and March 7, 2003 is secured by a Mortgaged Property
      located in the state of Georgia, and there is no Group 1 Mortgage Loan
      originated on or after March 7, 2003 that is a “high cost home loan” as defined
      under the Georgia Fair Lending Act.

     

    (N) No
      Mortgagor related to a Group 1 Mortgage Loan was required to purchase any single
      premium credit insurance policy (e.g., life, disability, accident, unemployment,
      or health insurance product) or debt cancellation agreement as a condition
      of
      obtaining the extension of credit; no Mortgagor related to a Group 1 Mortgage
      Loan obtained a prepaid single-premium credit insurance policy (e.g., life,
      disability, accident, unemployment, mortgage or health insurance) in connection
      with the origination of such Group 1 Mortgage Loan; no proceeds from any Group
      1
      Mortgage Loan were used to purchase single premium credit insurance policies
      or
      debt cancellation agreements as part of the origination or, or as a condition
      to
      closing, such Group 1 Mortgage Loan.

     

    (O) With
      respect to any Group 1 Mortgage Loan originated on or after August 1, 2004,
      if
      the related Group 1 Mortgage Loan or the related Mortgage Note, or any document
      relating to the loan transaction, contains a mandatory arbitration clause (that
      is, a clause that requires the borrower to submit to arbitration to resolve
      any
      dispute arising out of or relating in any way to the mortgage loan transaction),
      Countrywide will (i) notify the related borrower in writing within 60 days
      after
      the Closing Date that none of the related seller, the related servicer or any
      subsequent party that acquires an interest in the Group 1 Mortgage Loan or
      services the Group 1 Mortgage Loan will enforce the arbitration clause against
      the borrower, but that the borrower will continue to have the right to submit
      a
      dispute to arbitration and (ii) place a copy of that notice in the Mortgage
      File; and neither the related mortgage nor the related mortgage note requires
      the borrower to submit to arbitration to resolve any dispute arising out of
      or
      relating in any way to the mortgage loan transaction.

     

    (P) The
      originator of each Group 1 Mortgage Loan offered the related borrower mortgage
      loan products offered by such Group 1 Mortgage Loan’s originator, or any
      affiliate of such Group 1 Mortgage Loan’s originator, for which the borrower
      qualified.

     

    (Q) The
      methodology used in underwriting the extension of credit for each Group 1
      Mortgage Loan employs objective mathematical principles which relate the
      borrower’s income, assets and liabilities to the proposed payment and such
      underwriting methodology does not rely on the extent of the borrower’s equity in
      the collateral as the principal determining factor in approving such credit
      extension. Such underwriting methodology confirmed that at the time of
      origination (application/approval) the borrower had the reasonable ability
      to
      make timely payments on the mortgage loan.

     

    (R) No
      borrower under a Group 1 Mortgage Loan was charged “points and fees” in an
      amount greater than (a) $1,000 or (b) 5% of the principal amount of such Group
      1
      Mortgage Loan, whichever is greater. For purposes of this representation,
“points and fees” (x) include origination, underwriting, broker and finder’s
      fees and charges that the lender imposed as a condition of making the Group
      1
      Mortgage Loan, whether they are paid to the lender or a third party; and (y)
      exclude bona fide discount points, fees paid for actual services rendered in
      connection with the origination of the Group 1 Mortgage Loan (such as attorneys’
fees, notaries fees and fees paid for property appraisals, credit reports,
      surveys, title examinations and extracts, flood and tax certifications, and
      home
      inspections); the cost of mortgage insurance or credit-risk price adjustments;
      the costs of title, hazard, and flood insurance policies; state and local
      transfer taxes or fees; escrow deposits for the future payment of taxes and
      insurance premiums; and other miscellaneous fees and charges that, in total,
      do
      not exceed 0.25 percent of the loan amount.

     

    (S) As
      of the
      Closing Date with respect to the Group 1 Mortgage Loans or the applicable date
      of substitution with respect to any Replacement Mortgage Loan, none of the
      Mortgaged Properties is a mobile home or a manufactured housing unit that is
      not
      considered or classified as part of the real estate under the laws of the
      jurisdiction in which it is located.

     

    (78) The
      representations in Section 2.03(c)(1)-(6), 2.03(d)(1)-(6) and 2.03(e)(1)-(6)
      are
      true and correct.

     

    (c) Park
      Monaco hereby represents and warrants to the Depositor and the Trustee as
      follows, as of the Cut-off Date: 

     

    (1) Park
      Monaco is duly organized as a Delaware corporation and is validly existing
      and
      in good standing under the laws of the State of Delaware and is duly authorized
      and qualified to transact any and all business contemplated by this Agreement
      and each Subsequent Transfer Agreement to be conducted by Park Monaco in any
      state in which a Mortgaged Property securing a Park Monaco Mortgage Loan is
      located or is otherwise not required under applicable law to effect such
      qualification and, in any event, is in compliance with the doing business laws
      of any such state, to the extent necessary to ensure its ability to enforce
      each
      Park Monaco Mortgage Loan, to sell the Park Monaco Mortgage Loans in accordance
      with the terms of this Agreement and each Subsequent Transfer Agreement and
      to
      perform any of its other obligations under this Agreement in accordance with
      the
      terms hereof.

     

    (2) Park
      Monaco has the full company power and authority to sell each Park Monaco
      Mortgage Loan, and to execute, deliver and perform, and to enter into and
      consummate the transactions contemplated by this Agreement and each Subsequent
      Transfer Agreement and has duly authorized by all necessary corporate action
      on
      the part of Park Monaco the execution, delivery and performance of this
      Agreement and each Subsequent Transfer Agreement; and this Agreement and each
      Subsequent Transfer Agreement, assuming the due authorization, execution and
      delivery hereof by the other parties hereto, constitutes a legal, valid and
      binding obligation of Park Monaco, enforceable against Park Monaco in accordance
      with its terms, except that (a) the enforceability hereof may be limited by
      bankruptcy, insolvency, moratorium, receivership and other similar laws relating
      to creditors’ rights generally and (b) the remedy of specific performance and
      injunctive and other forms of equitable relief may be subject to equitable
      defenses and to the discretion of the court before which any proceeding therefor
      may be brought.

     

    (3) The
      execution and delivery of this Agreement and each Subsequent Transfer Agreement
      by Park Monaco, the sale of the Park Monaco Mortgage Loans by Park Monaco under
      this Agreement and each Subsequent Transfer Agreement, the consummation of
      any
      other of the transactions contemplated by this Agreement and each Subsequent
      Transfer Agreement, and the fulfillment of or compliance with the terms hereof
      are in the ordinary course of business of Park Monaco and will not (A) result
      in
      a material breach of any term or provision of the certificate of incorporation
      or by-laws of Park Monaco or (B) materially conflict with, result in a material
      breach, violation or acceleration of, or result in a material default under,
      the
      terms of any other material agreement or instrument to which Park Monaco is
      a
      party or by which it may be bound, or (C) constitute a material violation of
      any
      statute, order or regulation applicable to Park Monaco of any court, regulatory
      body, administrative agency or governmental body having jurisdiction over Park
      Monaco; and Park Monaco is not in breach or violation of any material indenture
      or other material agreement or instrument, or in violation of any statute,
      order
      or regulation of any court, regulatory body, administrative agency or
      governmental body having jurisdiction over it which breach or violation may
      materially impair Park Monaco’s ability to perform or meet any of its
      obligations under this Agreement.

     

    (4) No
      litigation is pending or, to the best of Park Monaco’s knowledge, threatened,
      against Park Monaco that would materially and adversely affect the execution,
      delivery or enforceability of this Agreement or any Subsequent Transfer
      Agreement or the ability of Park Monaco to sell the Park Monaco Mortgage Loans
      or to perform any of its other obligations under this Agreement or any
      Subsequent Transfer Agreement in accordance with the terms hereof or
      thereof.

     

    (5) No
      consent, approval, authorization or order of any court or governmental agency
      or
      body is required for the execution, delivery and performance by Park Monaco
      of,
      or compliance by Park Monaco with, this Agreement or any Subsequent Transfer
      Agreement or the consummation of the transactions contemplated hereby, or if
      any
      such consent, approval, authorization or order is required, Park Monaco has
      obtained the same.

     

    (6) Park
      Monaco will treat the transfer of the Park Monaco Mortgage Loans to the
      Depositor as a sale of the Park Monaco Mortgage Loans for all tax, accounting
      and regulatory purposes.

     

    (7) Immediately
      prior to the assignment of each Park Monaco Mortgage Loan to the Depositor,
      Park
      Monaco had good title to, and was the sole owner of, such Park Monaco Mortgage
      Loan free and clear of any pledge, lien, encumbrance or security interest and
      had full right and authority, subject to no interest or participation of, or
      agreement with, any other party, to sell and assign the same pursuant to this
      Agreement.

     

    (d) Park
      Sienna hereby represents and warrants to the Depositor and the Trustee as
      follows, as of the Cut-off Date: 

     

    (1) Park
      Sienna is duly organized as a Delaware limited liability company and is validly
      existing and in good standing under the laws of the State of Delaware and is
      duly authorized and qualified to transact any and all business contemplated
      by
      this Agreement and each Subsequent Transfer Agreement to be conducted by Park
      Sienna in any state in which a Mortgaged Property securing a Park Sienna
      Mortgage Loan is located or is otherwise not required under applicable law
      to
      effect such qualification and, in any event, is in compliance with the doing
      business laws of any such state, to the extent necessary to ensure its ability
      to enforce each Park Sienna Mortgage Loan, to sell the Park Sienna Mortgage
      Loans in accordance with the terms of this Agreement and each Subsequent
      Transfer Agreement and to perform any of its other obligations under this
      Agreement in accordance with the terms hereof.

     

    (2) Park
      Sienna has the full company power and authority to sell each Park Sienna
      Mortgage Loan, and to execute, deliver and perform, and to enter into and
      consummate the transactions contemplated by this Agreement and each Subsequent
      Transfer Agreement and has duly authorized by all necessary company action
      on
      the part of Park Sienna the execution, delivery and performance of this
      Agreement and each Subsequent Transfer Agreement; and this Agreement and each
      Subsequent Transfer Agreement, assuming the due authorization, execution and
      delivery hereof by the other parties hereto, constitutes a legal, valid and
      binding obligation of Park Sienna, enforceable against Park Sienna in accordance
      with its terms, except that (a) the enforceability hereof may be limited by
      bankruptcy, insolvency, moratorium, receivership and other similar laws relating
      to creditors’ rights generally and (b) the remedy of specific performance and
      injunctive and other forms of equitable relief may be subject to equitable
      defenses and to the discretion of the court before which any proceeding therefor
      may be brought.

     

    (3) The
      execution and delivery of this Agreement and each Subsequent Transfer Agreement
      by Park Sienna, the sale of the Park Sienna Mortgage Loans by Park Sienna under
      this Agreement and each Subsequent Transfer Agreement, the consummation of
      any
      other of the transactions contemplated by this Agreement and each Subsequent
      Transfer Agreement and the fulfillment of or compliance with the terms hereof
      are in the ordinary course of business of Park Sienna and will not (A) result
      in
      a material breach of any term or provision of the certificate of formation
      or
      limited liability company agreement of Park Sienna or (B) materially conflict
      with, result in a material breach, violation or acceleration of, or result
      in a
      material default under, the terms of any other material agreement or instrument
      to which Park Sienna is a party or by which it may be bound, or (C) constitute
      a
      material violation of any statute, order or regulation applicable to Park Sienna
      of any court, regulatory body, administrative agency or governmental body having
      jurisdiction over Park Sienna; and Park Sienna is not in breach or violation
      of
      any material indenture or other material agreement or instrument, or in
      violation of any statute, order or regulation of any court, regulatory body,
      administrative agency or governmental body having jurisdiction over it which
      breach or violation may materially impair Park Sienna’s ability to perform or
      meet any of its obligations under this Agreement.

     

    (4) No
      litigation is pending or, to the best of Park Sienna’s knowledge, threatened,
      against Park Sienna that would materially and adversely affect the execution,
      delivery or enforceability of this Agreement or any Subsequent Transfer
      Agreement or the ability of Park Sienna to sell the Park Sienna Mortgage Loans
      or to perform any of its other obligations under this Agreement or any
      Subsequent Transfer Agreement in accordance with the terms hereof or
      thereof.

     

    (5) No
      consent, approval, authorization or order of any court or governmental agency
      or
      body is required for the execution, delivery and performance by Park Sienna
      of,
      or compliance by Park Sienna with, this Agreement or any Subsequent Transfer
      Agreement or the consummation of the transactions contemplated hereby, or if
      any
      such consent, approval, authorization or order is required, Park Sienna has
      obtained the same.

     

    (6) Park
      Sienna will treat the transfer of the Park Sienna Mortgage Loans to the
      Depositor as a sale of the Park Sienna Mortgage Loans for all tax, accounting
      and regulatory purposes.

     

    (7) Immediately
      prior to the assignment of each Park Sienna Mortgage Loan to the Depositor,
      Park
      Sienna had good title to, and was the sole owner of, such the Park Sienna
      Mortgage Loan free and clear of any pledge, lien, encumbrance or security
      interest and had full right and authority, subject to no interest or
      participation of, or agreement with, any other party, to sell and assign the
      same pursuant to this Agreement.

     

    (e) Park
      Granada hereby represents and warrants to the Depositor and the Trustee as
      follows, as of the Cut-off Date: 

     

    (1) Park
      Granada is duly organized as a Delaware limited liability company and is validly
      existing and in good standing under the laws of the State of Delaware and is
      duly authorized and qualified to transact any and all business contemplated
      by
      this Agreement and each Subsequent Transfer Agreement to be conducted by Park
      Granada in any state in which a Mortgaged Property securing a Park Granada
      Mortgage Loan is located or is otherwise not required under applicable law
      to
      effect such qualification and, in any event, is in compliance with the doing
      business laws of any such state, to the extent necessary to ensure its ability
      to enforce each Park Granada Mortgage Loan, to sell the Park Granada Mortgage
      Loans in accordance with the terms of this Agreement and each Subsequent
      Transfer Agreement and to perform any of its other obligations under this
      Agreement in accordance with the terms hereof.

     

    (2) Park
      Granada has the full company power and authority to sell each Park Granada
      Mortgage Loan, and to execute, deliver and perform, and to enter into and
      consummate the transactions contemplated by this Agreement and each Subsequent
      Transfer Agreement and has duly authorized by all necessary company action
      on
      the part of Park Granada the execution, delivery and performance of this
      Agreement and each Subsequent Transfer Agreement; and this Agreement and each
      Subsequent Transfer Agreement, assuming the due authorization, execution and
      delivery hereof by the other parties hereto, constitutes a legal, valid and
      binding obligation of Park Granada, enforceable against Park Granada in
      accordance with its terms, except that (a) the enforceability hereof may be
      limited by bankruptcy, insolvency, moratorium, receivership and other similar
      laws relating to creditors’ rights generally and (b) the remedy of specific
      performance and injunctive and other forms of equitable relief may be subject
      to
      equitable defenses and to the discretion of the court before which any
      proceeding therefor may be brought.

     

    (3) The
      execution and delivery of this Agreement and each Subsequent Transfer Agreement
      by Park Granada, the sale of the Park Granada Mortgage Loans by Park Granada
      under this Agreement and each Subsequent Transfer Agreement, the consummation
      of
      any other of the transactions contemplated by this Agreement and each Subsequent
      Transfer Agreement and the fulfillment of or compliance with the terms hereof
      are in the ordinary course of business of Park Granada and will not (A) result
      in a material breach of any term or provision of the certificate of formation
      or
      limited liability company agreement of Park Granada or (B) materially conflict
      with, result in a material breach, violation or acceleration of, or result
      in a
      material default under, the terms of any other material agreement or instrument
      to which Park Granada is a party or by which it may be bound, or (C) constitute
      a material violation of any statute, order or regulation applicable to Park
      Granada of any court, regulatory body, administrative agency or governmental
      body having jurisdiction over Park Granada; and Park Granada is not in breach
      or
      violation of any material indenture or other material agreement or instrument,
      or in violation of any statute, order or regulation of any court, regulatory
      body, administrative agency or governmental body having jurisdiction over it
      which breach or violation may materially impair Park Granada’s ability to
      perform or meet any of its obligations under this Agreement.

     

    (4) No
      litigation is pending or, to the best of Park Granada’s knowledge, threatened,
      against Park Granada that would materially and adversely affect the execution,
      delivery or enforceability of this Agreement or any Subsequent Transfer
      Agreement or the ability of Park Granada to sell the Park Granada Mortgage
      Loans
      or to perform any of its other obligations under this Agreement or any
      Subsequent Transfer Agreement in accordance with the terms hereof or
      thereof.

     

    (5) No
      consent, approval, authorization or order of any court or governmental agency
      or
      body is required for the execution, delivery and performance by Park Granada
      of,
      or compliance by Park Granada with, this Agreement or any Subsequent Transfer
      Agreement or the consummation of the transactions contemplated hereby, or if
      any
      such consent, approval, authorization or order is required, Park Granada has
      obtained the same.

     

    (6) Park
      Granada will treat the transfer of the Park Granada Mortgage Loans to the
      Depositor as a sale of the Park Granada Mortgage Loans for all tax, accounting
      and regulatory purposes.

     

    (7) Immediately
      prior to the assignment of each Park Granada Mortgage Loan to the Depositor,
      Park Granada had good title to, and was the sole owner of, such the Park Granada
      Mortgage Loan free and clear of any pledge, lien, encumbrance or security
      interest and had full right and authority, subject to no interest or
      participation of, or agreement with, any other party, to sell and assign the
      same pursuant to this Agreement.

     

    (f) [reserved]

     

    (g) Upon
      discovery by any of the parties hereto of a breach of a representation or
      warranty set forth in Section 2.03(a) through (f) that materially and adversely
      affects the interests of the Certificateholders
      in any Mortgage Loan, the
      party
      discovering such breach shall give prompt notice thereof to the other parties,
      the NIM Insurer and the Swap Counterparty. Each of the Master Servicer and
      the
      Sellers (each, a “Representing Party”) hereby covenants with respect to the
      representations and warranties set forth in Sections 2.03(a) through (f) that
      within 90 days of the earlier of the discovery by such Representing Party or
      receipt of written notice by such Representing Party from any party of a breach
      of any representation or warranty set forth herein made that materially and
      adversely affects the interests of the Certificateholders in any Mortgage Loan,
      it shall cure such breach in all material respects and, if such breach is not
      so
      cured, shall, (i) if such 90-day period expires prior to the second anniversary
      of the Closing Date, remove such Mortgage Loan (a “Deleted Mortgage Loan”) from
      the Trust Fund and substitute in its place a Replacement Mortgage Loan, in
      the
      manner and subject to the conditions set forth in this Section; or (ii)
      repurchase the affected Mortgage Loan or Mortgage Loans from the Trustee at
      the
      Purchase Price in the manner set forth below; provided that (a) any such
      substitution pursuant to (i) above or repurchase pursuant to (ii) above shall
      not be effected prior to the delivery to the Trustee of the Opinion of Counsel
      required by Section 2.05 hereof, (b) any such substitution pursuant to (i)
      above
      shall not be effected prior to the additional delivery to the Trustee of a
      Request for File Release and (c) any such substitution pursuant to (i) above
      shall include a payment by the applicable Representing Party of any amount
      as
      calculated under item (iii) of the definition of “Purchase Price”. Any
      Representing Party liable for a breach under this Section 2.03 shall promptly
      reimburse the Master Servicer or the Trustee for any expenses reasonably
      incurred by the Master Servicer or the Trustee in respect of enforcing the
      remedies for such breach. To enable the Master Servicer to amend the Mortgage
      Loan Schedule, any Representing Party liable for a breach under this Section
      2.03 shall, unless it cures such breach in a timely fashion pursuant to this
      Section 2.03, promptly notify the Master Servicer whether such Representing
      Party intends either to repurchase, or to substitute for, the Mortgage Loan
      affected by such breach. With respect to the representations and warranties
      described in this Section that are made to the best of the Representing Party’s
      knowledge, if it is discovered by any of the Depositor, the Master Servicer,
      the
      Sellers 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, notwithstanding the Representing Party’s lack of
      knowledge with respect to the substance of such representation or warranty,
      such
      inaccuracy shall be deemed a breach of the applicable representation or
      warranty. Any breach of a representation set forth in Section 2.03(a)(8) or
      (b)(77)(A) - (S) shall be deemed to materially and adversely affect the
      Certificateholders.

     

    With
      respect to any Replacement Mortgage Loan or Loans, the applicable Seller
      delivering such Replacement Mortgage Loan shall deliver to the Trustee for
      the
      benefit of the Certificateholders the related Mortgage Note, Mortgage and
      assignment of the Mortgage, and such other documents and agreements as are
      required by Section 2.01, with the Mortgage Note endorsed and the Mortgage
      assigned as required by Section 2.01. No substitution will be made in any
      calendar month after the Determination Date for such month. Scheduled Payments
      due with respect to Replacement Mortgage Loans in the Due Period related to
      the
      Distribution Date on which such proceeds are to be distributed shall not be
      part
      of the Trust Fund and will be retained by the applicable Seller delivering
      such
      Replacement Mortgage Loan on such Distribution Date. For the month of
      substitution, distributions to Certificateholders will include the Scheduled
      Payment due on any Deleted Mortgage Loan for the related Due Period and
      thereafter the applicable Seller shall be entitled to retain all amounts
      received in respect of such Deleted Mortgage Loan. The Master Servicer shall
      amend the Mortgage Loan Schedule for the benefit of the Certificateholders
      to
      reflect the removal of such Deleted Mortgage Loan and the substitution of the
      Replacement Mortgage Loan or Loans and the Master Servicer shall deliver the
      amended Mortgage Loan Schedule to the Trustee. Upon such substitution, the
      Replacement Mortgage Loan or Loans shall be subject to the terms of this
      Agreement in all respects, and the applicable Seller delivering such Replacement
      Mortgage Loan shall be deemed to have made with respect to such Replacement
      Mortgage Loan or Loans, as of the date of substitution, the representations
      and
      warranties set forth in Section 2.03(b), (c), (d), (e) or (f) with respect
      to
      such Mortgage Loan. Upon any such substitution and the deposit to the
      Certificate Account of the amount required to be deposited therein in connection
      with such substitution as described in the following paragraph, the Trustee
      shall release to the Representing Party the Mortgage File relating to such
      Deleted Mortgage Loan and held for the benefit of the Certificateholders and
      shall execute and deliver at the Master Servicer’s direction such instruments of
      transfer or assignment as have been prepared by the Master Servicer, in each
      case without recourse, as shall be necessary to vest in the applicable Seller,
      or its respective designee, title to the Trustee’s interest in any Deleted
      Mortgage Loan substituted for pursuant to this Section 2.03.

     

    For
      any
      month in which any Seller substitutes one or more Replacement Mortgage Loans
      for
      one or more Deleted Mortgage Loans, the Master Servicer will determine the
      amount (if any) by which the aggregate principal balance of all such Replacement
      Mortgage Loans as of the date of substitution is less than the Stated Principal
      Balance (after application of the principal portion of the Scheduled Payment
      due
      in the month of substitution) of all such Deleted Mortgage Loans. An amount
      equal to the aggregate of the deficiencies described in the preceding sentence
      (such amount, the “Substitution Adjustment Amount”) shall be forwarded by the
      applicable Seller to the Master Servicer and deposited by the Master Servicer
      into the Certificate Account not later than the Determination Date for the
      Distribution Date relating to the Prepayment Period during which the related
      Mortgage Loan became required to be purchased or replaced
      hereunder.

     

    In
      the
      event that a Seller shall have repurchased a Mortgage Loan, the Purchase Price
      therefor shall be deposited in the Certificate Account pursuant to Section
      3.05
      on the Determination Date for the Distribution Date in the month following
      the
      month during which such Seller became obligated to repurchase or replace such
      Mortgage Loan and upon such deposit of the Purchase Price, the delivery of
      the
      Opinion of Counsel required by Section 2.05, if any, and the receipt of a
      Request for File Release, the Trustee shall release the related Mortgage File
      held for the benefit of the Certificateholders to such Seller, and the Trustee
      shall execute and deliver at such Person’s direction the related instruments of
      transfer or assignment prepared by such Seller, in each case without recourse,
      as shall be necessary to transfer title from the Trustee for the benefit of
      the
      Certificateholders and transfer the Trustee’s interest to such Seller to any
      Mortgage Loan purchased pursuant to this Section 2.03. It is understood and
      agreed that the obligation under this Agreement of the Sellers to cure,
      repurchase or replace any Mortgage Loan as to which a breach has occurred and
      is
      continuing shall constitute the sole remedy against the Sellers respecting
      such
      breach available to Certificateholders, the Depositor or the
      Trustee.

     

    (h) The
      representations and warranties set forth in this Section 2.03 shall survive
      delivery of the respective Mortgage Files to the Trustee for the benefit of
      the
      Certificateholders with respect to each Mortgage Loan.

     

    Section
      2.04 Representations
      and Warranties of the Depositor.

     

    The
      Depositor hereby represents and warrants to the Master Servicer and the Trustee
      as follows, as of the date hereof and as of each Subsequent Transfer
      Date:

     

    (1) The
      Depositor is duly organized and is validly existing as a corporation in good
      standing under the laws of the State of Delaware and has full power and
      authority (corporate and other) necessary to own or hold its properties and
      to
      conduct its business as now conducted by it and to enter into and perform its
      obligations under this Agreement and each Subsequent Transfer
      Agreement.

     

    (2) The
      Depositor has the full corporate power and authority to execute, deliver and
      perform, and to enter into and consummate the transactions contemplated by,
      this
      Agreement and each Subsequent Transfer Agreement and has duly authorized, by
      all
      necessary corporate action on its part, the execution, delivery and performance
      of this Agreement and each Subsequent Transfer Agreement; and this Agreement
      and
      each Subsequent Transfer Agreement, assuming the due authorization, execution
      and delivery hereof by the other parties hereto, constitutes a legal, valid
      and
      binding obligation of the Depositor, enforceable against the Depositor in
      accordance with its terms, subject, as to enforceability, to (i) bankruptcy,
      insolvency, reorganization, moratorium and other similar laws affecting
      creditors’ rights generally and (ii) general principles of equity, regardless of
      whether enforcement is sought in a proceeding in equity or at law.

     

    (3) The
      execution and delivery of this Agreement and each Subsequent Transfer Agreement
      by the Depositor, the consummation of the transactions contemplated by this
      Agreement, and the fulfillment of or compliance with the terms hereof are in
      the
      ordinary course of business of the Depositor and will not (A) result in a
      material breach of any term or provision of the charter or by-laws of the
      Depositor or (B) materially conflict with, result in a material breach,
      violation or acceleration of, or result in a material default under, the terms
      of any other material agreement or instrument to which the Depositor is a party
      or by which it may be bound or (C) constitute a material violation of any
      statute, order or regulation applicable to the Depositor of any court,
      regulatory body, administrative agency or governmental body having jurisdiction
      over the Depositor; and the Depositor is not in breach or violation of any
      material indenture or other material agreement or instrument, or in violation
      of
      any statute, order or regulation of any court, regulatory body, administrative
      agency or governmental body having jurisdiction over it which breach or
      violation may materially impair the Depositor’s ability to perform or meet any
      of its obligations under this Agreement.

     

    (4) No
      litigation is pending, or, to the best of the Depositor’s knowledge, threatened,
      against the Depositor that would materially and adversely affect the execution,
      delivery or enforceability of this Agreement or any Subsequent Transfer
      Agreement or the ability of the Depositor to perform its obligations under
      this
      Agreement or any Subsequent Transfer Agreement in accordance with the terms
      hereof or thereof.

     

    (5) No
      consent, approval, authorization or order of any court or governmental agency
      or
      body is required for the execution, delivery and performance by the Depositor
      of, or compliance by the Depositor with, this Agreement or any Subsequent
      Transfer Agreement or the consummation of the transactions contemplated hereby,
      or if any such consent, approval, authorization or order is required, the
      Depositor has obtained the same.

     

    The
      Depositor hereby represents and warrants to the Trustee with respect to each
      Mortgage Loan, as of the Closing Date or the related Subsequent Transfer Date,
      as applicable, following the transfer of such Mortgage Loan to it by the
      Sellers, the Depositor had good title to the Initial Mortgage Loans or related
      Subsequent Mortgage Loans, as applicable, and the related Mortgage Notes were
      subject to no offsets, claims, defenses or counterclaims.

     

    It
      is
      understood and agreed that the representations and warranties set forth in
      the
      two immediately preceding paragraphs shall survive delivery of the Mortgage
      Files to the Trustee. Upon discovery by the Depositor or the Trustee, of a
      breach of any of the foregoing representations and warranties set forth in
      the
      immediately preceding paragraph (referred to herein as a “breach”), which breach
      materially and adversely affects the interest of the Certificateholders, the
      party discovering such breach shall give prompt written notice to the others
      and
      to each Rating Agency, the NIM Insurer and the Swap Counterparty. The Depositor
      hereby covenants with respect to the representations and warranties made by
      it
      in this Section 2.04 that within 90 days of the earlier of the discovery by
      it
      or receipt of written notice by it from any party of a breach of any
      representation or warranty set forth herein made that materially and adversely
      affects the interests of the Certificateholders in any Mortgage Loan, it shall
      cure such breach in all material respects and, if such breach is not so cured,
      shall repurchase or replace the affected Mortgage Loan or Loans in accordance
      with the procedure set forth in Section 2.03(g).

     

    Section
      2.05 Delivery
      of Opinion of Counsel in Connection with Substitutions and
      Repurchases.

     

    (a) Notwithstanding
      any contrary provision of this Agreement, with respect to any Mortgage Loan
      that
      is not in default or as to which default is not imminent, no repurchase or
      substitution pursuant to Sections 2.02, 2.03 or 2.04 shall be made unless the
      Representing Party making such repurchase or substitution delivers to the
      Trustee an Opinion of Counsel (which such Representing Party shall use
      reasonable efforts to obtain), addressed to the Trustee to the effect that
      such
      repurchase or substitution would not (i) result in the imposition of the tax
      on
“prohibited transactions” of the Trust Fund or contributions after the Closing
      Date, as defined in sections 860F(a)(2) and 860G(d) of the Code, respectively
      or
      (ii) cause the any REMIC formed hereunder to fail to qualify as a REMIC at
      any
      time that any Certificates are outstanding. Any Mortgage Loan as to which
      repurchase or substitution was delayed pursuant to this paragraph shall be
      repurchased or the substitution therefor shall occur (subject to compliance
      with
      Sections 2.02, 2.03 or 2.04) upon the earlier of (a) the occurrence of a default
      or imminent default with respect to such loan and (b) receipt by the Trustee
      of
      an Opinion of Counsel to the effect that such repurchase or substitution, as
      applicable, will not result in the events described in clause (i) or clause
      (ii)
      of the preceding sentence.

     

    (b) Upon
      discovery by the Depositor, any Seller, the Master Servicer 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
      promptly (and in any event within five Business Days of discovery) give written
      notice thereof to the other parties and the NIM Insurer. In connection
      therewith, the Trustee shall require CHL, at CHL’s option, to either (i)
      substitute, if the conditions in Section 2.03(g) with respect to substitutions
      are satisfied, a Replacement Mortgage Loan for the affected Mortgage Loan,
      or
      (ii) repurchase the affected Mortgage Loan within 90 days of such discovery
      in
      the same manner as it would a Mortgage Loan for a breach of representation
      or
      warranty contained in Section 2.03. The Trustee shall reconvey to CHL 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 contained in Section 2.03.

     

    Section
      2.06 Authentication
      and Delivery of Certificates.

     

    The
      Trustee acknowledges the transfer and assignment to it of the Trust Fund and,
      concurrently with such transfer and assignment, has executed, authenticated
      and
      delivered, to or upon the order of the Depositor, the Certificates in authorized
      denominations evidencing the entire ownership of the Trust Fund. The Trustee
      agrees to hold the Trust Fund and exercise the rights referred to above for
      the
      benefit of all present and future Holders of the Certificates and to perform
      the
      duties set forth in this Agreement.

     

    Section
      2.07 Covenants
      of the Master Servicer.

     

    The
      Master Servicer hereby covenants to the Depositor and the Trustee as
      follows:

     

    (a) the
      Master Servicer shall comply in the performance of its obligations under this
      Agreement with all reasonable rules and requirements of the insurer under each
      Required Insurance Policy; and

     

    (b) no
      written information, certificate of an officer, statement furnished in writing
      or written report delivered to the Depositor, any affiliate of the Depositor
      or
      the Trustee and prepared by the Master Servicer pursuant to this Agreement
      will
      contain any untrue statement of a material fact or omit to state a material
      fact
      necessary to make the information, certificate, statement or report not
      misleading.

     

    ARTICLE
      III.

     

    ADMINISTRATION
      AND SERVICING OF MORTGAGE LOANS

     

    Section
      3.01 Master
      Servicer to Service Mortgage Loans.

     

    For
      and
      on behalf of the Certificateholders, the Master Servicer shall service and
      administer the Mortgage Loans in accordance with customary and usual standards
      of practice of prudent mortgage loan lenders in the respective states in which
      the Mortgaged Properties are located, including taking all required and
      appropriate actions under each Required Insurance Policy. In connection with
      such servicing and administration, the Master Servicer shall have full power
      and
      authority, acting alone and/or through subservicers as provided in Section
      3.02
      hereof, subject to the terms hereof (i) to execute and deliver, on behalf of
      the
      Certificateholders and the Trustee, customary consents or waivers and other
      instruments and documents, (ii) to consent to transfers of any Mortgaged
      Property and assumptions of the Mortgage Notes and related Mortgages (but only
      in the manner provided in this Agreement), (iii) to collect any Insurance
      Proceeds, other Liquidation Proceeds and Subsequent Recoveries, and (iv) subject
      to Section 3.12(b), to effectuate foreclosure or other conversion of the
      ownership of the Mortgaged Property securing any Mortgage Loan; provided that
      the Master Servicer shall take no action that is inconsistent with or prejudices
      the interests of the Trustee or the Certificateholders in any Mortgage Loan
      or
      the rights and interests of the Depositor and the Trustee under this Agreement.
      The Master Servicer shall represent and protect the interest of the Trustee
      in
      the same manner as it currently protects its own interest in mortgage loans
      in
      its own portfolio in any claim, proceeding or litigation regarding a Mortgage
      Loan and shall not make or permit any modification, waiver or amendment of
      any
      term of any Mortgage Loan which would (i) cause any REMIC formed hereunder
      to
      fail to qualify as a REMIC or (ii) result in the imposition of any tax under
      section 860(a) or 860(d) of the Code, but in any case the Master Servicer shall
      not act in any manner that is a lesser standard than that provided in the first
      sentence of this Section 3.01. Without limiting the generality of the foregoing,
      the Master Servicer, in its own name or in the name of the Depositor and the
      Trustee, is hereby authorized and empowered by the Depositor and the Trustee,
      when the Master Servicer believes it appropriate in its reasonable judgment,
      to
      execute and deliver, on behalf of the Trustee, the Depositor, the
      Certificateholders or any of them, any and all instruments of satisfaction
      or
      cancellation, or of partial or full release or discharge and all other
      comparable instruments, with respect to the Mortgage Loans, and with respect
      to
      the Mortgaged Properties held for the benefit of the Certificateholders. The
      Master Servicer shall prepare and deliver to the Depositor and/or the Trustee
      such documents requiring execution and delivery by any or all of them as are
      necessary or appropriate to enable the Master Servicer to service and administer
      the Mortgage Loans. Upon receipt of such documents, the Depositor and/or the
      Trustee shall execute such documents and deliver them to the Master Servicer.
      The Master Servicer further is authorized and empowered by the Trustee, on
      behalf of the Certificateholders and the Trustee, in its own name or in the
      name
      of the Subservicer, when the Master Servicer or the Subservicer, as the case
      may
      be, believes it appropriate in its best judgment to register any Mortgage Loan
      on the MERS® System, or cause the removal from the registration of any Mortgage
      Loan on the MERS® System, to execute and deliver, on behalf of the Trustee and
      the Certificateholders or any of them, any and all instruments of assignment
      and
      other comparable instruments with respect to such assignment or re-recording
      of
      a Mortgage in the name of MERS, solely as nominee for the Trustee and its
      successors and assigns.

     

    In
      accordance with the standards of the preceding paragraph, the Master Servicer
      shall advance or cause to be advanced funds as necessary for the purpose of
      effecting the payment of taxes and assessments on the Mortgaged Properties,
      which advances shall be reimbursable in the first instance from related
      collections from the Mortgagors pursuant to Section 3.06, and further as
      provided in Section 3.08. All costs incurred by the Master Servicer, if any,
      in
      effecting the timely payments of taxes and assessments on the Mortgaged
      Properties and related insurance premiums shall not, for the purpose of
      calculating monthly distributions to the Certificateholders, be added to the
      Stated Principal Balance under the related Mortgage Loans, notwithstanding
      that
      the terms of such Mortgage Loans so permit.

     

    The
      Master Servicer shall deliver a list of Servicing Officers to the Trustee by
      the
      Closing Date.

     

    In
      connection with its activities as Master Servicer of the Mortgage Loans, the
      Master Servicer agrees to present, on behalf of itself, the Trustee and the
      Certificateholders, claims to the insurer under any primary insurance policies
      and, in this regard, to take any reasonable action necessary to permit recovery
      under any primary insurance policies respecting defaulted Mortgage Loans. Any
      amounts collected by the Master Servicer under any primary insurance policies
      shall be deposited in the Certificate Account.

     

    In
      the
      event that a shortfall in any collection on or liability with respect to any
      Mortgage Loan results from or is attributable to adjustments to Mortgage Rates,
      Scheduled Payments or Stated Principal Balances that were made by the Master
      Servicer in a manner not consistent with the terms of the related Mortgage
      Note
      and this Agreement, the Master Servicer, upon discovery or receipt of notice
      thereof, immediately shall deliver to the Trustee for deposit in the
      Distribution Account from its own funds the amount of any such shortfall and
      shall indemnify and hold harmless the Trust Fund, the Trustee, the Depositor
      and
      any successor master servicer in respect of any such liability. Such indemnities
      shall survive the termination or discharge of this Agreement. Notwithstanding
      the foregoing, this Section 3.01 shall not limit the ability of the Master
      Servicer to seek recovery of any such amounts from the related Mortgagor under
      the terms of the related Mortgage Note, as permitted by law and shall not be
      an
      expense of the Trust.

     

    Section
      3.02 Subservicing;
      Enforcement of the Obligations of Master Servicer.

     

    (a) The
      Master Servicer may arrange for the subservicing of any Mortgage Loan by a
      subservicer (each, a “Subservicer”) pursuant to a subservicing agreement (each,
      a “Subservicing Agreement”); provided that (i) such subservicing arrangement and
      the terms of the related subservicing agreement must provide for the servicing
      of such Mortgage Loans in a manner consistent with the servicing arrangements
      contemplated hereunder, (ii) that such subservicing agreements would not result
      in a withdrawal or a downgrading by any Rating Agency of the ratings on any
      Class of Certificates, as evidenced by a letter to that effect delivered by
      each
      Rating Agency to the Depositor and the NIM Insurer and (iii) the NIM Insurer
      shall have consented to such subservicing agreements (which consent shall not
      be
      unreasonably withheld) with Subservicers, for the servicing and administration
      of the Mortgage Loans. The Master Servicer shall deliver to the Trustee copies
      of all Sub-Servicing Agreements, and any amendments or modifications thereof,
      promptly upon the Master Servicer’s execution and delivery of such instruments.
      The Master Servicer, with the written consent of the NIM Insurer (which consent
      shall not be unreasonably withheld), shall be entitled to terminate any
      Subservicing Agreement and the rights and obligations of any Subservicer
      pursuant to any Subservicing Agreement in accordance with the terms and
      conditions of such Subservicing Agreement. Notwithstanding the provisions of
      any
      subservicing agreement, any of the provisions of this Agreement relating to
      agreements or arrangements between the Master Servicer or a subservicer or
      reference to actions taken through a Master Servicer or otherwise, the Master
      Servicer shall remain obligated and liable to the Depositor, the Trustee and
      the
      Certificateholders for the servicing and administration of the Mortgage Loans
      in
      accordance with the provisions of this Agreement without diminution of such
      obligation or liability by virtue of such subservicing agreements or
      arrangements or by virtue of indemnification from the subservicer and to the
      same extent and under the same terms and conditions as if the Master Servicer
      alone were servicing and administering the Mortgage Loans. Every subservicing
      agreement entered into by the Master Servicer shall contain a provision giving
      the successor Master Servicer the option to terminate such agreement without
      cost in the event a successor Master Servicer is appointed. All actions of
      each
      subservicer performed pursuant to the related subservicing agreement shall
      be
      performed as an agent of the Master Servicer with the same force and effect
      as
      if performed directly by the Master Servicer.

     

    (b) For
      purposes of this Agreement, the Master Servicer shall be deemed to have received
      any collections, recoveries or payments with respect to the Mortgage Loans
      that
      are received by a subservicer regardless of whether such payments are remitted
      by the subservicer to the Master Servicer.

     

    Section
      3.03 Rights
      of
      the Depositor, the Sellers, the Certificateholders, the NIM Insurer and the
      Trustee in Respect of the Master Servicer.

     

    None
      of
      the Trustee, the Sellers, the Certificateholders, the NIM Insurer or the
      Depositor shall have any responsibility or liability for any action or failure
      to act by the Master Servicer, and none of them is obligated to supervise the
      performance of the Master Servicer hereunder or otherwise. The Master Servicer
      shall afford (and any Subservicing Agreement shall provide that each Subservicer
      shall afford) the Depositor, the NIM Insurer and the Trustee, upon reasonable
      notice, during normal business hours, access to all records maintained by the
      Master Servicer (and any such Subservicer) in respect of the Master Servicer’s
      rights and obligations hereunder and access to officers of the Master Servicer
      (and those of any such Subservicer) responsible for such obligations. Upon
      request, the Master Servicer shall furnish to the Depositor, the NIM Insurer
      and
      the Trustee its (and any such Subservicer’s) most recent financial statements
      and such other information relating to the Master Servicer’s capacity to perform
      its obligations under this Agreement that it possesses. To the extent such
      information is not otherwise available to the public, the Depositor, the NIM
      Insurer and the Trustee shall not disseminate any information obtained pursuant
      to the preceding two sentences without the Masters Servicer’s (or any such
      Subservicer’s) written consent, except as required pursuant to this Agreement or
      to the extent that it is necessary to do so (i) in working with legal counsel,
      auditors, taxing authorities or other governmental agencies, rating agencies
      or
      reinsurers or (ii) pursuant to any law, rule, regulation, order, judgment,
      writ,
      injunction or decree of any court or governmental authority having jurisdiction
      over the Depositor, the Trustee, the NIM Insurer or the Trust Fund, and in
      either case, the Depositor, the NIM Insurer or the Trustee, as the case may
      be,
      shall use its reasonable best efforts to assure the confidentiality of any
      such
      disseminated non-public information. The Depositor may, but is not obligated
      to,
      enforce the obligations of the Master Servicer under this Agreement and may,
      but
      is not obligated to, perform, or cause a designee to perform, any defaulted
      obligation of the Master Servicer under this Agreement or exercise the rights
      of
      the Master Servicer under this Agreement; provided by virtue of such performance
      by the Depositor of its designee. The Depositor shall not have any
      responsibility or liability for any action or failure to act by the Master
      Servicer and is not obligated to supervise the performance of the Master
      Servicer under this Agreement or otherwise.

     

    Section
      3.04 Trustee
      to Act as Master Servicer.

     

    In
      the
      event that the Master Servicer shall for any reason no longer be the Master
      Servicer hereunder (including by reason of an Event of Default or termination
      by
      the Depositor), the Trustee or its designee shall thereupon assume all of the
      rights and obligations of the Master Servicer hereunder arising thereafter
      (except that the Trustee shall not be (i) liable for losses of the Master
      Servicer pursuant to Section 3.10 hereof or any acts or omissions of the
      predecessor Master Servicer hereunder, (ii) obligated to make Advances if it
      is
      prohibited from doing so by applicable law, (iii) obligated to effectuate
      repurchases or substitutions of Mortgage Loans hereunder, including pursuant
      to
      Section 2.02 or 2.03 hereof, (iv) responsible for expenses of the Master
      Servicer pursuant to Section 2.03 or (v) deemed to have made any representations
      and warranties hereunder, including pursuant to Section 2.03 or the first
      paragraph of Section 6.02 hereof). If the Master Servicer shall for any reason
      no longer be the Master Servicer (including by reason of any Event of Default
      or
      termination by the Depositor), the Trustee (or any other successor servicer)
      may, at its option, succeed to any rights and obligations of the Master Servicer
      under any subservicing agreement in accordance with the terms thereof; provided
      that the Trustee (or any other successor servicer) shall not incur any liability
      or have any obligations in its capacity as servicer under a subservicing
      agreement arising prior to the date of such succession unless it expressly
      elects to succeed to the rights and obligations of the Master Servicer
      thereunder; and the Master Servicer shall not thereby be relieved of any
      liability or obligations under the subservicing agreement arising prior to
      the
      date of such succession.

     

    The
      Master Servicer shall, upon request of the Trustee, but at the expense of the
      Master Servicer, deliver to the assuming party all documents and records
      relating to each subservicing agreement and the Mortgage Loans then being
      serviced thereunder and an accounting of amounts collected held by it and
      otherwise use its best efforts to effect the orderly and efficient transfer
      of
      the subservicing agreement to the assuming party.

     

    Section
      3.05 Collection
      of Mortgage Loan Payments; Certificate Account; Distribution Account;
      Pre-Funding Account; Seller Shortfall Interest Requirement.

     

    (a) The
      Master Servicer shall make reasonable efforts in accordance with customary
      and
      usual standards of practice of prudent mortgage lenders in the respective states
      in which the Mortgaged Properties are located to collect all payments called
      for
      under the terms and provisions of the Mortgage Loans to the extent such
      procedures shall be consistent with this Agreement and the terms and provisions
      of any related Required Insurance Policy. Consistent with the foregoing, the
      Master Servicer may in its discretion (i) waive any late payment charge or,
      subject to Section 3.20, any Prepayment Charge or penalty interest in connection
      with the prepayment of a Mortgage Loan and (ii) extend the due dates for
      payments due on a Mortgage Note for a period not greater than 270 days. In
      the
      event of any such arrangement, the Master Servicer shall make Advances on the
      related Mortgage Loan during the scheduled period in accordance with the
      amortization schedule of such Mortgage Loan without modification thereof by
      reason of such arrangements. In addition, the NIM Insurer’s prior written
      consent shall be required for any waiver of Prepayment Charges or for the
      extension of the due dates for payments due on a Mortgage Note, if the aggregate
      number of outstanding Mortgage Loans that have been granted such waivers or
      extensions exceeds 5% of the aggregate number of Initial Mortgage Loans and
      Subsequent Mortgage Loans. The Master Servicer shall not be required to
      institute or join in litigation with respect to collection of any payment
      (whether under a Mortgage, Mortgage Note or otherwise or against any public
      or
      governmental authority with respect to a taking or condemnation) if it
      reasonably believes that enforcing the provision of the Mortgage or other
      instrument pursuant to which such payment is required is prohibited by
      applicable law.

     

    (b) The
      Master Servicer shall establish and maintain a Certificate Account into which
      the Master Servicer shall deposit or cause to be deposited on a daily basis
      within two Business Days of receipt, except as otherwise specifically provided
      herein, the following payments and collections remitted by Subservicers or
      received by it in respect of Mortgage Loans subsequent to the Cut-off Date
      (other than in respect of principal and interest due on the Mortgage Loans
      on or
      before the Cut-off Date) and the following amounts required to be deposited
      hereunder:

     

    (1) all
      payments on account of principal, including Principal Prepayments, on the
      Mortgage Loans;

     

    (2) all
      payments on account of interest on the Mortgage Loans (net of the related
      Servicing Fee and Prepayment Interest Excess permitted under Section 3.15 hereof
      to the extent not previously paid to or withheld by the Master
      Servicer);

     

    (3) all
      Insurance Proceeds;

     

    (4) all
      Liquidation Proceeds and Subsequent Recoveries, other than proceeds to be
      applied to the restoration or repair of the Mortgaged Property or released
      to
      the Mortgagor in accordance with the Master Servicer’s normal servicing
      procedures;

     

    (5) all
      Compensating Interest;

     

    (6) any
      amount required to be deposited by the Master Servicer pursuant to Section
      3.05(e) in connection with any losses on Permitted Investments;

     

    (7) any
      amounts required to be deposited by the Master Servicer pursuant to Section
      3.10
      hereof;

     

    (8) the
      Purchase Price and any Substitution Adjustment Amount;

     

    (9) all
      Advances made by the Master Servicer or the Trustee pursuant to Section 4.01
      hereof;

     

    (10) all
      Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
      and

     

    (11) any
      other
      amounts required to be deposited hereunder.

     

    The
      foregoing requirements for remittance by the Master Servicer into the
      Certificate Account shall be exclusive, it being understood and agreed that,
      without limiting the generality of the foregoing, payments in the nature of
      late
      payment charges or assumption fees, if collected, need not be remitted by the
      Master Servicer. In the event that the Master Servicer shall remit any amount
      not required to be remitted and not otherwise subject to withdrawal pursuant
      to
      Section 3.08 hereof, it may at any time withdraw or direct the institution
      maintaining the Certificate Account, to withdraw such amount from the
      Certificate Account, any provision herein to the contrary notwithstanding.
      Such
      withdrawal or direction may be accomplished by delivering written notice thereof
      to the institution maintaining the Certificate Account, that describes the
      amounts deposited in error in the Certificate Account. The Master Servicer
      shall
      maintain adequate records with respect to all withdrawals made pursuant to
      this
      Section. Reconciliations will be prepared for the Certificate Account within
      45
      calendar days after the bank statement cut-off date. All
      funds
      deposited in the Certificate Account shall be held in trust for the
      Certificateholders until withdrawn in accordance with Section 3.08.

     

    No
      later
      than 1:00 p.m. Pacific time on the Business Day prior to the Master Servicer
      Advance Date in each of and June 2006, July 2006 and August 2006, CHL shall
      remit to the Master Servicer, and the Master Servicer shall deposit in the
      Certificate Account, the Seller Shortfall Interest Requirement (if any) for
      such
      Master Servicer Advance Date.

     

    (c) The
      Trustee shall establish and maintain, on behalf of the Certificateholders,
      the
      Distribution Account. The Trustee shall, promptly upon receipt, deposit in
      the
      Distribution Account and retain therein the following:

     

    (1) the
      aggregate amount remitted by the Master Servicer pursuant to the second
      paragraph of Section 3.08(a); and

     

    (2) any
      amount required to be deposited by the Master Servicer pursuant to Section
      3.05(e) in connection with any losses on Permitted Investments.

     

    The
      foregoing requirements for remittance by the Master Servicer and deposit by
      the
      Trustee into the Distribution Account shall be exclusive. In the event that
      the
      Master Servicer shall remit any amount not required to be remitted and not
      otherwise subject to withdrawal pursuant to Section 3.08 hereof, it may at
      any
      time direct the Trustee to withdraw such amount from the Distribution Account,
      any provision herein to the contrary notwithstanding. Such direction may be
      accomplished by delivering a written notice to the Trustee that describes the
      amounts deposited in error in the Distribution Account. All funds deposited
      in
      the Distribution Account shall be held by the Trustee in trust for the
      Certificateholders until disbursed in accordance with this Agreement or
      withdrawn in accordance with Section 3.08. In no event shall the Trustee incur
      liability for withdrawals from the Distribution Account at the direction of
      the
      Master Servicer.

     

    (d) If
      the
      Pre-Funded Amount is greater than zero, the Trustee shall establish and
      maintain, on behalf of the Certificateholders, the Pre-Funding Account, and
      on
      the Closing Date, CHL shall remit the Pre-Funded Amount to the Trustee for
      deposit in the Pre-Funding Account. 

     

    On
      the
      Business Day before the Distribution Date following the end of the Funding
      Period, the Trustee shall (i) withdraw the amount on deposit in the Pre-Funding
      Account (net of investment income), (ii) promptly deposit such amount in the
      Distribution Account, and (iii) distribute each amount to the Certificates
      on
      the Distribution Date pursuant to Section 4.04.

     

    (e) Each
      institution that maintains the Certificate Account, the Distribution Account
      or
      the Pre-Funding Account shall invest the funds in each such account, as directed
      by the Master Servicer, in Permitted Investments, which shall mature not later
      than (x) in the case of the Certificate Account, the second Business Day next
      preceding the related Distribution Account Deposit Date (except that if such
      Permitted Investment is an obligation of the institution that maintains such
      Certificate Account, then such Permitted Investment shall mature not later
      than
      the Business Day next preceding such Distribution Account Deposit Date) and
      (y)
      in the case of the Distribution Account and the Pre-Funding Account, the
      Business Day immediately preceding the first Distribution Date that follows
      the
      date of such investment (except that if such Permitted Investment is an
      obligation of the institution that maintains such Distribution Account or
      Pre-Funding Account, then such Permitted Investment shall mature not later
      than
      such Distribution Date), in each case, shall not be sold or disposed of prior
      to
      its maturity. All such Permitted Investments shall be made in the name of the
      Trustee, for the benefit of the Certificateholders. In the case of (i) the
      Certificate Account and the Distribution Account, all income and gain net of
      any
      losses realized from any such investment shall be for the benefit of the Master
      Servicer as servicing compensation and shall be remitted to it monthly as
      provided herein and (ii) the Pre-Funding Account, all income and gain net of
      any
      losses realized from any such investment shall be for the benefit of the
      Depositor and shall be remitted to the Depositor as provided herein. The amount
      of any losses incurred in the Certificate Account or the Distribution Account
      in
      respect of any such investments shall be deposited by the Master Servicer in
      the
      Certificate Account or paid to the Trustee for deposit into the Distribution
      Account out of the Master Servicer’s own funds immediately as realized. The
      amount of any losses incurred in the Pre-Funding Account in respect of any
      such
      investments shall be paid by the Master Servicer to the Trustee for deposit
      into
      the Pre-Funding Account out of the Master Servicer’s own funds immediately as
      realized. The Trustee shall not be liable for the amount of any loss incurred
      in
      respect of any investment or lack of investment of funds held in the Certificate
      Account, the Distribution Account or the Pre-Funding Account and made in
      accordance with this Section 3.05.

     

    (f) The
      Master Servicer shall give at least 30 days advance notice to the Trustee,
      each
      Seller, each Rating Agency and the Depositor of any proposed change of location
      of the Certificate Account prior to any change thereof. The Trustee shall give
      at least 30 days advance notice to the Master Servicer, each Seller, each Rating
      Agency and the Depositor of any proposed change of the location of the
      Distribution Account, the Pre-Funding Account or the Carryover Reserve Fund
      prior to any change thereof.

     

    (g) Except
      as
      otherwise expressly provided in this Agreement, if any default occurs under
      any
      Permitted Investment, the Trustee may and, subject to Sections 8.01 and
      8.02(a)(4), at the request of the Holders of Certificates representing more
      than
      50% of the Voting Rights or the NIM Insurer, shall take any action appropriate
      to enforce payment or performance, including the institution and prosecution
      of
      appropriate proceedings.

     

    Section
      3.06 Collection
      of Taxes, Assessments and Similar Items; Escrow Accounts.

     

    To
      the
      extent required by the related Mortgage Note, the Master Servicer shall
      establish and maintain one or more accounts (each, an “Escrow Account”) and
      deposit and retain therein all collections from the Mortgagors (or advances
      by
      the Master Servicer) for the payment of taxes, assessments, hazard insurance
      premiums or comparable items for the account of the Mortgagors. Nothing herein
      shall require the Master Servicer to compel a Mortgagor to establish an Escrow
      Account in violation of applicable law.

     

    Withdrawals
      of amounts so collected from the Escrow Accounts may be made only to effect
      timely payment of taxes, assessments, hazard insurance premiums, condominium
      or
      PUD association dues, or comparable items, to reimburse the Master Servicer
      out
      of related collections for any payments made pursuant to Sections 3.01 hereof
      (with respect to taxes and assessments and insurance premiums) and 3.10 hereof
      (with respect to hazard insurance), to refund to any Mortgagors any sums as
      may
      be determined to be overages, to pay interest, if required by law or the terms
      of the related Mortgage or Mortgage Note, to Mortgagors on balances in the
      Escrow Account or to clear and terminate the Escrow Account at the termination
      of this Agreement in accordance with Section 9.01 hereof. The Escrow Accounts
      shall not be a part of the Trust Fund.

     

    Section
      3.07 Access
      to Certain Documentation and Information Regarding the Mortgage
      Loans.

     

    The
      Master Servicer shall afford the Depositor, the NIM Insurer and the Trustee
      reasonable access to all records and documentation regarding the Mortgage Loans
      and all accounts, insurance policies and other matters relating to this
      Agreement, such access being afforded without charge, but only upon reasonable
      request and during normal business hours at the offices of the Master Servicer
      designated by it. Upon request, the Master Servicer shall furnish to the Trustee
      and the NIM Insurer its most recent publicly available financial statements
      and
      any other information relating to its capacity to perform its obligations under
      this Agreement reasonably requested by the NIM Insurer.

     

    Upon
      reasonable advance notice in writing if required by federal regulation, the
      Master Servicer will provide to each Certificateholder or Certificate Owner
      that
      is a savings and loan association, bank or insurance company certain reports
      and
      reasonable access to information and documentation regarding the Mortgage Loans
      sufficient to permit such Certificateholder or Certificate Owner to comply
      with
      applicable regulations of the OTS or other regulatory authorities with respect
      to investment in the Certificates; provided that the Master Servicer shall
      be
      entitled to be reimbursed by each such Certificateholder or Certificate Owner
      for actual expenses incurred by the Master Servicer in providing such reports
      and access.

     

    Section
      3.08 Permitted
      Withdrawals from the Certificate Account, Distribution Account, Carryover
      Reserve Fund and the Principal Reserve Fund.

     

    (a) The
      Master Servicer may from time to time make withdrawals from the Certificate
      Account for the following purposes:

     

    (i) to
      pay to
      the Master Servicer (to the extent not previously paid to or withheld by the
      Master Servicer), as servicing compensation in accordance with Section 3.15,
      that portion of any payment of interest that equals the Servicing Fee for the
      period with respect to which such interest payment was made, and, as additional
      servicing compensation to the Master Servicer, those other amounts set forth
      in
      Section 3.15;

     

    (ii) to
      reimburse each of the Master Servicer and the Trustee for Advances made by
      it
      with respect to the Mortgage Loans, such right of reimbursement pursuant to
      this
      subclause (ii) being limited to amounts received on particular Mortgage Loan(s)
      (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and
      Subsequent Recoveries) that represent late recoveries of payments of principal
      and/or interest on such particular Mortgage Loan(s) in respect of which any
      such
      Advance was made;

     

    (iii) [Reserved];

     

    (iv) to
      reimburse each of the Master Servicer and the Trustee for any Nonrecoverable
      Advance previously made;

     

    (v) to
      reimburse the Master Servicer from Insurance Proceeds for Insured Expenses
      covered by the related Insurance Policy;

     

    (vi) to
      pay
      the Master Servicer any unpaid Servicing Fees and to reimburse it for any
      unreimbursed Servicing Advances, the Master Servicer’s right to reimbursement of
      Servicing Advances pursuant to this subclause (vi) with respect to any Mortgage
      Loan being limited to amounts received on particular Mortgage Loan(s)
      (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and
      Subsequent Recoveries and purchase and repurchase proceeds) that represent
      late
      recoveries of the payments for which such advances were made pursuant to Section
      3.01 or Section 3.06;

     

    (vii) to
      pay to
      the applicable Seller, the Depositor or the Master Servicer, as applicable,
      with
      respect to each Mortgage Loan or property acquired in respect thereof that
      has
      been purchased pursuant to Section 2.02, 2.03, 2.04 or 3.12, all amounts
      received thereon and not taken into account in determining the related Purchase
      Price of such repurchased Mortgage Loan;

     

    (viii) to
      reimburse the applicable Seller, the Master Servicer, the NIM Insurer or the
      Depositor for expenses incurred by any of them in connection with the Mortgage
      Loans or Certificates and reimbursable pursuant to Section 6.03 hereof; provided
      that such amount shall only be withdrawn following the withdrawal from the
      Certificate Account for deposit into the Distribution Account pursuant to the
      following paragraph;

     

    (ix) to
      pay
      any lender-paid primary mortgage insurance premiums;

     

    (x) to
      withdraw any amount deposited in the Certificate Account and not required to
      be
      deposited therein; and

     

    (xi) to
      clear
      and terminate the Certificate Account upon termination of this Agreement
      pursuant to Section 9.01 hereof.

     

    In
      addition, no later than 1:00 p.m. Pacific time on the Distribution Account
      Deposit Date, the Master Servicer shall withdraw from the Certificate Account
      and remit to the Trustee the Interest Remittance Amount, Principal Remittance
      Amount and Prepayment Charges collected and amounts in respect of Prepayment
      Charges pursuant to Section 3.20 for each Loan Group, and the Trustee shall
      deposit such amount in the Distribution Account.

     

    The
      Trustee shall establish and maintain, on behalf of the Certificateholders,
      a
      Principal Reserve Fund in the name of the Trustee. On the Closing Date, CHL
      shall deposit into the Principal Reserve Fund $100.00. Funds on deposit in
      the
      Principal Reserve Fund shall not be invested. The Principal Reserve Fund shall
      be treated as an “outside reserve fund” under applicable Treasury regulations
      and shall not be part of any REMIC created under this Agreement. 

     

    On
      the
      Business Day before the Class P Principal Distribution Date, the Trustee shall
      transfer from the Principal Reserve Fund to the Distribution Account $100.00
      and
      shall distribute such amount to the Class P Certificates on the Class P
      Principal Distribution Date. Following the distributions to be made in
      accordance with the preceding sentence, the Trustee shall then terminate the
      Principal Reserve Fund. 

     

    The
      Master Servicer shall keep and maintain separate accounting, on a Mortgage
      Loan
      by Mortgage Loan basis, for the purpose of justifying any withdrawal from the
      Certificate Account pursuant to subclauses (i), (ii), (iv), (v), (vi), (vii),
      (viii) and (ix) above. Prior to making any withdrawal from the Certificate
      Account pursuant to subclause (iv), the Master Servicer shall deliver to the
      Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of
      any previous Advance determined by the Master Servicer to be a Nonrecoverable
      Advance and identifying the related Mortgage Loan(s), and their respective
      portions of such Nonrecoverable Advance.

     

    (b) The
      Trustee shall withdraw funds from the Distribution Account for distribution
      to
      the Certificateholders and remittance to the Swap Account in the manner
      specified in this Agreement (and to withhold from the amounts so withdrawn,
      the
      amount of any taxes that it is authorized to retain pursuant to the penultimate
      paragraph of Section 8.11). In addition, the Trustee may from time to time
      make
      withdrawals from the Distribution Account for the following
      purposes:

     

    (i) to
      pay
      the Trustee the Trustee Fee on each Distribution Date;

     

    (ii) to
      pay to
      the Master Servicer, as additional servicing compensation, earnings on or
      investment income with respect to funds in or credited to the Distribution
      Account;

     

    (iii) to
      withdraw pursuant to Section 3.05 any amount deposited in the Distribution
      Account and not required to be deposited therein; 

     

    (iv) to
      reimburse the Trustee for any unreimbursed Advances made by it pursuant to
      Section 4.01(d) hereof, such right of reimbursement pursuant to this subclause
      (iv) being limited to (x) amounts received on the related Mortgage Loan(s)
      in
      respect of which any such Advance was made and (y) amounts not otherwise
      reimbursed to the Trustee pursuant to Section 3.08(a)(ii) hereof;

     

    (v) to
      reimburse the Trustee for any Nonrecoverable Advance previously made by the
      Trustee pursuant to Section 4.01(d) hereof, such right of reimbursement pursuant
      to this subclause (v) being limited to amounts not otherwise reimbursed to
      the
      Trustee pursuant to Section 3.08(a)(iv) hereof; and

     

    (vi) to
      clear
      and terminate the Distribution Account upon termination of the Agreement
      pursuant to Section 9.01 hereof.

     

    (c) The
      Trustee shall withdraw funds from the Carryover Reserve Fund for distribution
      to
      the Certificateholders in the manner specified in this Agreement (and to
      withhold from the amounts so withdrawn, the amount of any taxes that it is
      authorized to retain pursuant to the penultimate paragraph of Section 8.11).
      In
      addition, the Trustee may from time to time make withdrawals from the Carryover
      Reserve Fund for the following purposes:

     

    (1) to
      withdraw any amount deposited in the Carryover Reserve Fund and not required
      to
      be deposited therein; and

     

    (2) to
      clear
      and terminate the Carryover Reserve Fund upon termination of the Agreement
      pursuant to Section 9.01 hereof.

     

    Section
      3.09 [Reserved].

     

    Section
      3.10 Maintenance
      of Hazard Insurance.

     

    The
      Master Servicer shall cause to be maintained, for each Mortgage Loan, hazard
      insurance with extended coverage in an amount that is at least equal to the
      lesser of (i) the maximum insurable value of the improvements securing such
      Mortgage Loan and (ii) the greater of (a) the outstanding principal balance
      of
      the Mortgage Loan and (b) an amount such that the proceeds of such policy shall
      be sufficient to prevent the related Mortgagor and/or mortgagee from becoming
      a
      co-insurer. Each such policy of standard hazard insurance shall contain, or
      have
      an accompanying endorsement that contains, a standard mortgagee clause. The
      Master Servicer shall also cause flood insurance to be maintained on property
      acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan,
      to the extent described below. Pursuant to Section 3.05 hereof, any amounts
      collected by the Master Servicer under any such policies (other than the amounts
      to be applied to the restoration or repair of the related Mortgaged Property
      or
      property thus acquired or amounts released to the Mortgagor in accordance with
      the Master Servicer’s normal servicing procedures) shall be deposited in the
      Certificate Account. Any cost incurred by the Master Servicer in maintaining
      any
      such insurance shall not, for the purpose of calculating monthly distributions
      to the Certificateholders or remittances to the Trustee for their benefit,
      be
      added to the principal balance of the Mortgage Loan, notwithstanding that the
      terms of the Mortgage Loan so permit. Such costs shall be recoverable by the
      Master Servicer out of late payments by the related Mortgagor or out of
      Liquidation Proceeds or Subsequent Recoveries to the extent permitted by Section
      3.08 hereof. It is understood and agreed that no earthquake or other additional
      insurance is to be required of any Mortgagor or maintained on property acquired
      in respect of a Mortgage other than pursuant to such applicable laws and
      regulations as shall at any time be in force and as shall require such
      additional insurance. If the Mortgaged Property is located at the time of
      origination of the Mortgage Loan in a federally designated special flood hazard
      area and such area is participating in the national flood insurance program,
      the
      Master Servicer shall cause flood insurance to be maintained with respect to
      such Mortgage Loan. Such flood insurance shall be in an amount equal to the
      lesser of (i) the original principal balance of the related Mortgage Loan,
      (ii)
      the replacement value of the improvements that are part of such Mortgaged
      Property, or (iii) the maximum amount of such insurance available for the
      related Mortgaged Property under the Flood Disaster Protection Act of 1973,
      as
      amended. If the hazard policy contains a deductible clause, the Master Servicer
      will be required to deposit from its own funds into the Certificate Account
      the
      amounts that would have been deposited therein but for the deductible
      clause.

     

    Section
      3.11 Enforcement
      of Due-On-Sale Clauses; Assumption Agreements.

     

    (a) Except
      as
      otherwise provided in this Section 3.11(a), when any property subject to a
      Mortgage has been or is about to be conveyed by the Mortgagor, the Master
      Servicer shall to the extent that it has knowledge of such conveyance, enforce
      any due-on-sale clause contained in any Mortgage Note or Mortgage, to the extent
      permitted under applicable law and governmental regulations, but only to the
      extent that such enforcement will not adversely affect or jeopardize coverage
      under any Required Insurance Policy. Notwithstanding the foregoing, the Master
      Servicer is not required to exercise such rights with respect to a Mortgage
      Loan
      if the Person to whom the related Mortgaged Property has been conveyed or is
      proposed to be conveyed satisfies the terms and conditions contained in the
      Mortgage Note and Mortgage related thereto and the consent of the mortgagee
      under such Mortgage Note or Mortgage is not otherwise so required under such
      Mortgage Note or Mortgage as a condition to such transfer. In the event that
      the
      Master Servicer is prohibited by law from enforcing any such due-on-sale clause,
      or if coverage under any Required Insurance Policy would be adversely affected,
      or if nonenforcement is otherwise permitted hereunder, the Master Servicer
      is
      authorized, subject to Section 3.11(b), to take or enter into an assumption
      and
      modification agreement from or with the person to whom such property has been
      or
      is about to be conveyed, pursuant to which such person becomes liable under
      the
      Mortgage Note and, unless prohibited by applicable state law, the Mortgagor
      remains liable thereon, provided that the Mortgage Loan shall continue to be
      covered (if so covered before the Master Servicer enters such agreement) by
      the
      applicable Required Insurance Policies. The Master Servicer, subject to Section
      3.11(b), is also authorized with the prior approval of the insurers under any
      Required Insurance Policies to enter into a substitution of liability agreement
      with such Person, pursuant to which the original Mortgagor is released from
      liability and such Person is substituted as Mortgagor and becomes liable under
      the Mortgage Note. The Master Servicer shall notify the Trustee that any such
      substitution, modification or assumption agreement has been completed by
      forwarding to the Trustee the executed original of such substitution or
      assumption agreement, which document shall be added to the related Mortgage
      File
      and shall, for all purposes, be considered a part of such Mortgage File to
      the
      same extent as all other documents and instruments constituting a part thereof.
      

     

    (b) Subject
      to the Master Servicer’s duty to enforce any due-on-sale clause to the extent
      set forth in Section 3.11(a) hereof, in any case in which a Mortgaged Property
      has been conveyed to a Person by a Mortgagor, and such Person is to enter into
      an assumption agreement or modification agreement or supplement to the Mortgage
      Note or Mortgage that requires the signature of the Trustee, or if an instrument
      of release signed by the Trustee is required releasing the Mortgagor from
      liability on the Mortgage Loan, the Master Servicer shall prepare and deliver
      or
      cause to be prepared and delivered to the Trustee for signature and shall
      direct, in writing, the Trustee to execute the assumption agreement with the
      Person to whom the Mortgaged Property is to be conveyed and such modification
      agreement or supplement to the Mortgage Note or Mortgage or other instruments
      as
      are reasonable or necessary to carry out the terms of the Mortgage Note or
      Mortgage or otherwise to comply with any applicable laws regarding assumptions
      or the transfer of the Mortgaged Property to such Person. In connection with
      any
      such assumption, no material term of the Mortgage Note (including, but not
      limited to, the Mortgage Rate, the amount of the Scheduled Payment, the Maximum
      Mortgage Rate, the Minimum Mortgage Rate, the Gross Margin, the Initial Periodic
      Rate Cap, the Subsequent Periodic Rate Cap, the Adjustment Date and any other
      term affecting the amount or timing of payment on the Mortgage Loan) may be
      changed. In addition, the substitute Mortgagor and the Mortgaged Property must
      be acceptable to the Master Servicer in accordance with its underwriting
      standards as then in effect. The Master Servicer shall notify the Trustee that
      any such substitution or assumption agreement has been completed by forwarding
      to the Trustee the original of such substitution or assumption agreement, which
      in the case of the original shall be added to the related Mortgage File and
      shall, for all purposes, be considered a part of such Mortgage File to the
      same
      extent as all other documents and instruments constituting a part thereof.
      Any
      fee collected by the Master Servicer for entering into an assumption or
      substitution of liability agreement will be retained by the Master Servicer
      as
      additional servicing compensation.

     

    Section
      3.12 Realization
      Upon Defaulted Mortgage Loans; Determination of Excess Proceeds and Realized
      Losses; Repurchase of Certain Mortgage Loans.

     

    (a) The
      Master Servicer may agree to a modification of any Mortgage Loan (the “Modified
      Mortgage Loan”) if (i) CHL purchases the Modified Mortgage Loan from the Trust
      Fund immediately following the modification as described below and (ii) the
      Stated Principal Balance of such Mortgage Loan, when taken together with the
      aggregate of the Stated Principal Balances of all other Mortgage Loans in the
      same Loan Group that have been so modified since the Closing Date at the time
      of
      those modifications, does not exceed an amount equal to 5% of the aggregate
      Certificate Principal Balance of the related Certificates. Effective immediately
      after the modification, and, in any event, on the same Business Day on which
      the
      modification occurs, all interest of the Trustee in the Modified Mortgage Loan
      shall automatically be deemed transferred and assigned to CHL and all benefits
      and burdens of ownership thereof, including the right to accrued interest
      thereon from the date of modification and the risk of default thereon, shall
      pass to CHL. The Master Servicer shall promptly deliver to the Trustee a
      certification of a Servicing Officer to the effect that all requirements of
      this
      paragraph have been satisfied with respect to the Modified Mortgage Loan. For
      federal income tax purposes, the Trustee shall account for such purchase as
      a
      prepayment in full of the Modified Mortgage Loan. CHL shall remit the Purchase
      Price to the Master Servicer for deposit into the Certificate Account pursuant
      to Section 3.05 within one Business Day after the purchase of the Modified
      Mortgage Loan. Upon receipt by the Trustee of written notification of any such
      deposit signed by a Servicing Officer, the Trustee shall release to CHL or
      its
      designee the related Mortgage File and shall execute and deliver such
      instruments of transfer or assignment, in each case without recourse, as shall
      be necessary to vest in CHL any Modified Mortgage Loan previously transferred
      and assigned pursuant hereto. CHL covenants and agrees to indemnify the Trust
      Fund against any liability for any “prohibited transaction” taxes and any
      related interest, additions, and penalties imposed on the Trust Fund established
      hereunder as a result of any modification of a Mortgage Loan effected pursuant
      to this subsection (a), any holding of a Modified Mortgage Loan by the Trust
      Fund or any purchase of a Modified Mortgage Loan by CHL (but such obligation
      shall not prevent CHL or any other appropriate Person from in good faith
      contesting any such tax in appropriate proceedings and shall not prevent CHL
      from withholding payment of such tax, if permitted by law, pending the outcome
      of such proceedings). CHL shall have no right of reimbursement for any amount
      paid pursuant to the foregoing indemnification, except to the extent that the
      amount of any tax, interest, and penalties, together with interest thereon,
      is
      refunded to the Trust Fund or CHL. If the Master Servicer agrees to a
      modification of any Mortgage Loan pursuant to this Section 3.12(a), and if
      such
      Mortgage Loan carries a Prepayment Charge provision, CHL shall deliver to the
      Trustee the amount of the Prepayment Charge, if any, that would have been due
      had such Mortgage Loan been prepaid at the time of such modification, for
      deposit into the Certificate Account (not later than 1:00 p.m. Pacific time
      on
      the Master Servicer Advance Date immediately succeeding the date of such
      modification) for distribution in accordance with the terms of this
      Agreement.

     

    (b) The
      Master Servicer shall use reasonable efforts to foreclose upon or otherwise
      comparably convert the ownership of properties securing such of the Mortgage
      Loans as come into and continue in default and as to which no satisfactory
      arrangements can be made for collection of delinquent payments. In connection
      with such foreclosure or other conversion, the Master Servicer shall follow
      such
      practices and procedures as it shall deem necessary or advisable and as shall
      be
      normal and usual in its general mortgage servicing activities and the
      requirements of the insurer under any Required Insurance Policy; provided that
      the Master Servicer shall not be required to expend its own funds in connection
      with any foreclosure or towards the restoration of any property unless it shall
      determine (i) that such restoration and/or foreclosure will increase the
      proceeds of liquidation of the Mortgage Loan after reimbursement to itself
      of
      such expenses and (ii) that such expenses will be recoverable to it through
      Liquidation Proceeds (respecting which it shall have priority for purposes
      of
      withdrawals from the Certificate Account pursuant to Section 3.08 hereof).
      The
      Master Servicer shall be responsible for all other costs and expenses incurred
      by it in any such proceedings; provided that it shall be entitled to
      reimbursement thereof from the proceeds of liquidation of the related Mortgaged
      Property and any related Subsequent Recoveries, as contemplated in Section
      3.08
      hereof. If the Master Servicer has knowledge that a Mortgaged Property that
      the
      Master Servicer is contemplating acquiring in foreclosure or by deed-in-lieu
      of
      foreclosure is located within a one-mile radius of any site with environmental
      or hazardous waste risks known to the Master Servicer, the Master Servicer
      will,
      prior to acquiring the Mortgaged Property, consider such risks and only take
      action in accordance with its established environmental review
      procedures.

     

    With
      respect to any REO Property, the deed or certificate of sale shall be taken
      in
      the name of the Trustee for the benefit of the Certificateholders (or the
      Trustee’s nominee on behalf of the Certificateholders). The Trustee’s name shall
      be placed on the title to such REO Property solely as the Trustee hereunder
      and
      not in its individual capacity. The Master Servicer shall ensure that the title
      to such REO Property references this Agreement and the Trustee’s capacity
      thereunder. Pursuant to its efforts to sell such REO Property, the Master
      Servicer shall either itself or through an agent selected by the Master Servicer
      protect and conserve such REO Property in the same manner and to such extent
      as
      is customary in the locality where such REO Property is located and may,
      incident to its conservation and protection of the interests of the
      Certificateholders, rent the same, or any part thereof, as the Master Servicer
      deems to be in the best interest of the Master Servicer and the
      Certificateholders for the period prior to the sale of such REO Property. The
      Master Servicer shall prepare for and deliver to the Trustee a statement with
      respect to each REO Property that has been rented showing the aggregate rental
      income received and all expenses incurred in connection with the management
      and
      maintenance of such REO Property at such times as is necessary to enable the
      Trustee to comply with the reporting requirements of the REMIC Provisions.
      The
      net monthly rental income, if any, from such REO Property shall be deposited
      in
      the Certificate Account no later than the close of business on each
      Determination Date. The Master Servicer shall perform the tax reporting and
      withholding related to foreclosures, abandonments and cancellation of
      indebtedness income as specified by Sections 1445, 6050J and 6050P of the Code
      by preparing and filing such tax and information returns, as may be
      required.

     

    In
      the
      event that the Trust Fund acquires any Mortgaged Property as aforesaid or
      otherwise in connection with a default or imminent default on a Mortgage Loan,
      the Master Servicer shall dispose of such Mortgaged Property as soon as
      practicable in a manner that maximizes the Liquidation Proceeds, but in no
      event
      later than three years after its acquisition by the Trust Fund or, at the
      expense of the Trust Fund, the Master Servicer shall request, more than 60
      days
      prior to the day on which such three-year period would otherwise expire, an
      extension of the three-year grace period. In the event the Trustee shall have
      been supplied with an Opinion of Counsel (such opinion not to be an expense
      of
      the Trustee) to the effect that the holding by the Trust Fund of such Mortgaged
      Property subsequent to such three-year period will not result in the imposition
      of taxes on “prohibited transactions” of the Trust Fund as defined in section
      860F of the Code or cause any REMIC formed hereunder to fail to qualify as
      a
      REMIC at any time that any Certificates are outstanding, and the Trust Fund
      may
      continue to hold such Mortgaged Property (subject to any conditions contained
      in
      such Opinion of Counsel) after the expiration of such three-year period.
      Notwithstanding any other provision of this Agreement, no Mortgaged Property
      acquired by the Trust Fund shall be rented (or allowed to continue to be rented)
      or otherwise used for the production of income by or on behalf of the Trust
      Fund
      in such a manner or pursuant to any terms that would (i) cause such Mortgaged
      Property to fail to qualify as “foreclosure property” within the meaning of
      section 860G(a)(8) of the Code or (ii) subject the Trust Fund to the imposition
      of any federal, state or local income taxes on the income earned from such
      Mortgaged Property under section 860G(c) of the Code or otherwise, unless the
      Master Servicer has agreed to indemnify and hold harmless the Trust Fund with
      respect to the imposition of any such taxes.

     

    The
      decision of the Master Servicer to foreclose on a defaulted Mortgage Loan shall
      be subject to a determination by the Master Servicer that the proceeds of such
      foreclosure would exceed the costs and expenses of bringing such a proceeding.
      The income earned from the management of any Mortgaged Properties acquired
      through foreclosure or other judicial proceeding, net of reimbursement to the
      Master Servicer for expenses incurred (including any property or other taxes)
      in
      connection with such management and net of unreimbursed Servicing Fees,
      Advances, Servicing Advances and any management fee paid or to be paid with
      respect to the management of such Mortgaged Property, shall be applied to the
      payment of principal of, and interest on, the related defaulted Mortgage Loans
      (with interest accruing as though such Mortgage Loans were still current) and
      all such income shall be deemed, for all purposes in this Agreement, to be
      payments on account of principal and interest on the related Mortgage Notes
      and
      shall be deposited into the Certificate Account. To the extent the income
      received during a Prepayment Period is in excess of the amount attributable
      to
      amortizing principal and accrued interest at the related Mortgage Rate on the
      related Mortgage Loan, such excess shall be considered to be a partial Principal
      Prepayment for all purposes hereof.

     

    The
      Liquidation Proceeds from any liquidation of a Mortgage Loan and any Subsequent
      Recoveries, net of any payment to the Master Servicer as provided above, shall
      be deposited in the Certificate Account as provided in Section 3.05 for
      distribution on the related Distribution Date, except that any Excess Proceeds
      shall be retained by the Master Servicer as additional servicing
      compensation.

     

    The
      proceeds of any Liquidated Mortgage Loan, as well as any recovery resulting
      from
      a partial collection of Liquidation Proceeds or any income from an REO Property,
      will be applied in the following order of priority: first, to reimburse the
      Master Servicer for any related unreimbursed Servicing Advances and Servicing
      Fees, pursuant to Section 3.08(a)(vi) or this Section 3.12; second, to reimburse
      the Master Servicer for any unreimbursed Advances, pursuant to Section
      3.08(a)(ii) or this Section 3.12; third, to accrued and unpaid interest (to
      the
      extent no Advance has been made for such amount) on the Mortgage Loan or related
      REO Property, at the Net Mortgage Rate to the Due Date occurring in the month
      in
      which such amounts are required to be distributed; and fourth, as a recovery
      of
      principal of the Mortgage Loan.

     

    (c) [Reserved].

     

    (d) The
      Master Servicer, in its sole discretion, shall have the right to elect (by
      written notice sent to the Trustee) to purchase for its own account from the
      Trust Fund any Mortgage Loan that is 150 days or more delinquent at a price
      equal to the Purchase Price; provided, however, that the Master Servicer may
      only exercise this right on or before the last day of the calendar month in
      which such Mortgage Loan became 150 days delinquent (such month, the “Eligible
      Repurchase Month”); provided further, that any such Mortgage Loan which becomes
      current but thereafter becomes delinquent may be purchased by the Master
      Servicer pursuant to this Section in any ensuing Eligible Repurchase Month.
      The
      Purchase Price for any Mortgage Loan purchased hereunder shall be deposited
      in
      the Certificate Account. Any purchase of a Mortgage Loan pursuant to this
      Section 3.12(d) shall be accomplished by remittance to the Master Servicer
      for
      deposit in the Certificate Account of the Purchase Price. The Trustee, upon
      receipt of certification from the Master Servicer of such deposit and a Request
      for File Release from the Master Servicer, shall release or cause to be released
      to the purchaser of such Mortgage Loan the related Mortgage File and shall
      execute and deliver such instruments of transfer or assignment prepared by
      the
      purchaser of such Mortgage Loan, in each case without recourse, as shall be
      necessary to vest in the purchaser of such Mortgage Loan any Mortgage Loan
      released pursuant hereto and the purchaser of such Mortgage Loan shall succeed
      to all the Trustee’s right, title and interest in and to such Mortgage Loan and
      all security and documents related thereto. Such assignment shall be an
      assignment outright and not for security. The purchaser of such Mortgage Loan
      shall thereupon own such Mortgage Loan, and all security and documents, free
      of
      any further obligation to the Trustee or the Certificateholders with respect
      thereto.

     

    Section
      3.13 Trustee
      to Cooperate; Release of Mortgage Files.

     

    Upon
      the
      payment in full of any Mortgage Loan, or the receipt by the Master Servicer
      of a
      notification that payment in full will be escrowed in a manner customary for
      such purposes, the Master Servicer will promptly notify the Trustee by
      delivering a Request for File Release. Upon receipt of such request, the Trustee
      shall promptly release the related Mortgage File to the Master Servicer, and
      the
      Trustee shall at the Master Servicer’s direction execute and deliver to the
      Master Servicer the request for reconveyance, deed of reconveyance or release
      or
      satisfaction of mortgage or such instrument releasing the lien of the Mortgage
      in each case provided by the Master Servicer, together with the Mortgage Note
      with written evidence of cancellation thereon. The Master Servicer is authorized
      to cause the removal from the registration on the MERS® System of such Mortgage
      and to execute and deliver, on behalf of the Trust Fund and the
      Certificateholders or any of them, any and all instruments of satisfaction
      or
      cancellation or of partial or full release. No expenses incurred in connection
      with any instrument of satisfaction or deed of reconveyance shall be chargeable
      to the Certificate Account, the Distribution Account, the Carryover Reserve
      Fund
      or the related subservicing account. From time to time and as shall be
      appropriate for the servicing or foreclosure of any Mortgage Loan, including
      for
      such purpose, collection under any policy of flood insurance any fidelity bond
      or errors or omissions policy, or for the purposes of effecting a partial
      release of any Mortgaged Property from the lien of the Mortgage or the making
      of
      any corrections to the Mortgage Note or the Mortgage or any of the other
      documents included in the Mortgage File, the Trustee shall, upon delivery to
      the
      Trustee of a Request for Document Release or a Request for File Release, as
      applicable, release the documents specified in such request or the Mortgage
      File, as the case may be, to the Master Servicer. Subject to the further
      limitations set forth below, the Master Servicer shall cause the Mortgage File
      or documents so released to be returned to the Trustee when the need therefor
      by
      the Master Servicer no longer exists, unless the Mortgage Loan is liquidated
      and
      the proceeds thereof are deposited in the Certificate Account, in which case
      the
      Master Servicer shall deliver to the Trustee a Request for File Release for
      any
      remaining documents in the Mortgage File not in the possession of the Master
      Servicer.

     

    If
      the
      Master Servicer at any time seeks to initiate a foreclosure proceeding in
      respect of any Mortgaged Property as authorized by this Agreement, the Master
      Servicer shall deliver or cause to be delivered to the Trustee, for signature,
      as appropriate, any court pleadings, requests for trustee’s sale or other
      documents necessary to effectuate such foreclosure or any legal action brought
      to obtain judgment against the Mortgagor on the Mortgage Note or the Mortgage
      or
      to obtain a deficiency judgment or to enforce any other remedies or rights
      provided by the Mortgage Note or the Mortgage or otherwise available at law
      or
      in equity. Notwithstanding the foregoing, the Master Servicer shall cause
      possession of any Mortgage File or of the documents therein that shall have
      been
      released by the Trustee to be returned to the Trustee within 21 calendar days
      after possession thereof shall have been released by the Trustee unless (i)
      the
      Mortgage Loan has been liquidated and the Liquidation Proceeds relating to
      the
      Mortgage Loan have been deposited in the Certificate Account, and the Master
      Servicer shall have delivered to the Trustee a Request for File Release or
      (ii)
      the Mortgage File or document shall have been delivered to an attorney or to
      a
      public trustee or other public official as required by law for purposes of
      initiating or pursuing legal action or other proceedings for the foreclosure
      of
      the Mortgaged Property and the Master Servicer shall have delivered to the
      Trustee an Officer’s Certificate of a Servicing Officer certifying as to the
      name and address of the Person to which the Mortgage File or the documents
      therein were delivered and the purpose or purposes of such
      delivery.

     

    Section
      3.14 Documents,
      Records and Funds in Possession of Master Servicer to be Held for the
      Trustee.

     

    Notwithstanding
      any other provisions of this Agreement, the Master Servicer shall transmit
      to
      the Trustee as required by this Agreement all documents and instruments in
      respect of a Mortgage Loan coming into the possession of the Master Servicer
      from time to time and shall account fully to the Trustee for any funds received
      by the Master Servicer or that otherwise are collected by the Master Servicer
      as
      Liquidation Proceeds, Insurance Proceeds or Subsequent Recoveries in respect
      of
      any Mortgage Loan. All Mortgage Files and funds collected or held by, or under
      the control of, the Master Servicer in respect of any Mortgage Loans, whether
      from the collection of principal and interest payments or from Liquidation
      Proceeds or Subsequent Recoveries including but not limited to, any funds on
      deposit in the Certificate Account, shall be held by the Master Servicer for
      and
      on behalf of the Trust Fund and shall be and remain the sole and exclusive
      property of the Trust Fund, subject to the applicable provisions of this
      Agreement. The Master Servicer also agrees that it shall not create, incur
      or
      subject any Mortgage File or any funds that are deposited in the Certificate
      Account, the Distribution Account, the Carryover Reserve Fund or in any Escrow
      Account (as defined in Section 3.06), or any funds that otherwise are or may
      become due or payable to the Trustee for the benefit of the Certificateholders,
      to any claim, lien, security interest, judgment, levy, writ of attachment or
      other encumbrance, or assert by legal action or otherwise any claim or right
      of
      set off against any Mortgage File or any funds collected on, or in connection
      with, a Mortgage Loan, except, however, that the Master Servicer shall be
      entitled to set off against and deduct from any such funds any amounts that
      are
      properly due and payable to the Master Servicer under this
      Agreement.

     

    Section
      3.15 Servicing
      Compensation.

     

    As
      compensation for its activities hereunder, the Master Servicer shall be entitled
      to retain or withdraw from the Certificate Account out of each payment of
      interest on a Mortgage Loan included in the Trust Fund an amount equal to
      interest at the applicable Servicing Fee Rate on the Stated Principal Balance
      of
      the related Mortgage Loan for the period covered by such interest
      payment.

     

    Additional
      servicing compensation in the form of any Excess Proceeds, assumption fees,
      late
      payment charges, Prepayment Interest Excess, and all income and gain net of
      any
      losses realized from Permitted Investments shall be retained by the Master
      Servicer to the extent not required to be deposited in the Certificate Account
      pursuant to Section 3.05 or 3.12(b) hereof. The Master Servicer shall be
      required to pay all expenses incurred by it in connection with its servicing
      activities hereunder (including payment of any premiums for hazard insurance,
      as
      required by Section 3.10 hereof and maintenance of the other forms of insurance
      coverage required by Section 3.10 hereof) and shall not be entitled to
      reimbursement therefor except as specifically provided in Sections 3.08 and
      3.12
      hereof.

     

    Section
      3.16 Access
      to Certain Documentation.

     

    The
      Master Servicer shall provide to the OTS and the FDIC and to comparable
      regulatory authorities supervising Holders of the Certificates and Certificate
      Owners and the examiners and supervisory agents of the OTS, the FDIC and such
      other authorities, access to the documentation regarding the Mortgage Loans
      required by applicable regulations of the OTS and the FDIC. Such access shall
      be
      afforded without charge, but only upon reasonable and prior written request
      and
      during normal business hours at the offices of the Master Servicer designated
      by
      it. Nothing in this Section shall limit the obligation of the Master Servicer
      to
      observe any applicable law prohibiting disclosure of information regarding
      the
      Mortgagors and the failure of the Master Servicer to provide access as provided
      in this Section as a result of such obligation shall not constitute a breach
      of
      this Section.

     

    Section
      3.17 Annual
      Statement as to Compliance.

     

    (a) The
      Master Servicer shall deliver to the Depositor and the Trustee on or before
      March 15 of each year, commencing with its 2007 fiscal year, an Officer’s
      Certificate stating, as to the signer thereof, that (i) a review of the
      activities of the Master Servicer during the preceding calendar year (or
      applicable portion thereof) and of the performance of the Master Servicer under
      this Agreement, has been made under such officer’s supervision and (ii) to the
      best of such officer’s knowledge, based on such review, the Master Servicer has
      fulfilled all its obligations under this Agreement, in all material respects
      throughout such year (or applicable portion thereof), or, if there has been
      a
      failure to fulfill any such obligation in any material respect, specifying
      each
      such failure known to such officer and the nature and status thereof and (iii)
      to the best of such officer’s knowledge, each Subservicer has fulfilled all its
      obligations under its Subservicing Agreement in all material respects throughout
      such year, or, if there has been a failure to fulfill any such obligation in
      any
      material respect specifying each such failure known to such officer and the
      nature and status thereof.

     

    (b) The
      Master Servicer shall cause each Subservicer to deliver to the Depositor and
      the
      Trustee on or before March 15 of each year, commencing with its 2007 fiscal
      year, an Officer’s Certificate stating, as to the signer thereof, that (i) a
      review of the activities of such Subservicer during the preceding calendar
      year
      (or applicable portion thereof) and of the performance of the Subservicer under
      the applicable Subservicing Agreement or primary servicing agreement, has been
      made under such officer’s supervision and (ii) to the best of such officer’s
      knowledge, based on such review, such Subservicer has fulfilled all its
      obligations under the applicable Subservicing Agreement or primary servicing
      agreement, in all material respects throughout such year (or applicable portion
      thereof), or, if there has been a failure to fulfill any such obligation in
      any
      material respect, specifying each such failure known to such officer and the
      nature and status thereof.

     

    (c) The
      Trustee shall forward a copy of each such statement to each Rating Agency.
      Copies of such statement shall be provided by the Trustee to any
      Certificateholder or Certificate Owner upon request at the Master Servicer’s
      expense, provided such statement is delivered by the Master Servicer to the
      Trustee.

     

    Section
      3.18 [Reserved].

     

    Section
      3.19 [Reserved]. 

     

    Section
      3.20 Prepayment
      Charges.

     

    (a) Notwithstanding
      anything in this Agreement to the contrary, in the event of a Principal
      Prepayment in full or in part of a Mortgage Loan, the Master Servicer may not
      waive any Prepayment Charge or portion thereof required by the terms of the
      related Mortgage Note unless (i) such Mortgage Loan is in default or the Master
      Servicer believes that such a default is imminent, and the Master Servicer
      determines that such waiver would maximize recovery of Liquidation Proceeds
      for
      such Mortgage Loan, taking into account the value of such Prepayment Charge,
      or
      (ii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency,
      moratorium, receivership, or other similar law relating to creditors’ rights
      generally or (2) due to acceleration in connection with a foreclosure or other
      involuntary payment, or (B) the enforceability is otherwise limited or
      prohibited by applicable law. In the event of a Principal Prepayment in full
      or
      in part with respect to any Mortgage Loan, the Master Servicer shall deliver
      to
      the Trustee an Officer’s Certificate substantially in the form of Exhibit T no
      later than the third Business Day following the immediately succeeding
      Determination Date with a copy to the Class P Certificateholders. If the Master
      Servicer has waived or does not collect all or a portion of a Prepayment Charge
      relating to a Principal Prepayment in full or in part due to any action or
      omission of the Master Servicer, other than as provided above, the Master
      Servicer shall deliver to the Trustee, together with the Principal Prepayment
      in
      full or in part, the amount of such Prepayment Charge (or such portion thereof
      as had been waived) for deposit into the Certificate Account (not later than
      1:00 p.m. Pacific time on the immediately succeeding Master Servicer Advance
      Date, in the case of such Prepayment Charge) for distribution in accordance
      with
      the terms of this Agreement.

     

    (b) Upon
      discovery by the Master Servicer or a Responsible Officer of the Trustee of
      a
      breach of the foregoing subsection (a), the party discovering the breach shall
      give prompt written notice to the other parties. 

     

    (c) CHL
      represents and warrants to the Depositor and the Trustee, as of the Closing
      Date
      and each Subsequent Transfer Date, that the information in the Prepayment Charge
      Schedule (including the attached prepayment charge summary) is complete and
      accurate in all material respects at the dates as of which the information
      is
      furnished and each Prepayment Charge is permissible and enforceable in
      accordance with its terms under applicable state law, except as the
      enforceability thereof is limited due to acceleration in connection with a
      foreclosure or other involuntary payment.

     

    (d) Upon
      discovery by the Master Servicer or a Responsible Officer of the Trustee of
      a
      breach of the foregoing clause (c) that materially and adversely affects right
      of the Holders of the Class P Certificates to any Prepayment Charge, the party
      discovering the breach shall give prompt written notice to the other parties.
      Within 60 days of the earlier of discovery by the Master Servicer or receipt
      of
      notice by the Master Servicer of breach, the Master Servicer shall cure the
      breach in all material respects or shall pay into the Certificate Account the
      amount of the Prepayment Charge that would otherwise be due from the Mortgagor,
      less any amount representing such Prepayment Charge previously collected and
      paid by the Master Servicer into the Certificate Account.

     

    Section
      3.21 Swap
      Contract.

     

    CHL
      shall
      cause The Bank of New York to enter into the Swap Contract Administration
      Agreement and shall assign all of its right, title and interest in and to the
      interest rate swap transaction evidenced by the Swap Contract to, and shall
      cause all of its obligations in respect of such transaction to be assumed by,
      the Swap Contract Administrator, on the terms and conditions set forth in the
      Swap Contract Novation Agreement. The Trustee’s rights to receive certain
      proceeds of the Swap Contract as provided in the Swap Contract Administration
      Agreement shall be rights of the Trustee as Swap Trustee hereunder, shall be
      an
      asset of the Swap Trust and shall not be an asset of the Trust Fund nor of
      any
      REMIC. The Swap Trustee shall deposit any amounts received from time to time
      from the Swap Contract Administrator with respect to the Swap Contract into
      the
      Swap Account. The Master Servicer shall deposit any amounts received on behalf
      of the Swap Trustee from time to time with respect to the Swap Contract into
      the
      Swap Account. 

     

    On
      the
      Business Day preceding each Distribution Date, the Swap Trustee shall notify
      the
      Swap Contract Administrator of any amounts distributable to the Interest-Bearing
      Certificates pursuant to Section 4.04(d)(3) through (8) that will remain unpaid
      following all distributions to be made on such Distribution Date pursuant to
      Section 4.04(a) through (c).

     

    No
      later
      than two Business Days following each Distribution Date, the Trustee shall
      provide the Swap Contract Administrator with information regarding the aggregate
      Certificate Principal Balance of the Interest-Bearing Certificates after all
      distributions on such Distribution Date.

     

    Upon
      the
      Swap Contract Administrator obtaining actual knowledge of the rating of the
      Swap
      Counterparty falling below the Approved Rating Thresholds (as defined in the
      Swap Contract), the Swap Trustee shall direct the Swap Contract Administrator
      to
      demand payment of the Delivery Amount (as defined in the IDA Credit Support
      Annex) on each Valuation Date (as defined in the ISDA Credit Support Annex)
      and
      to perform its other obligations in accordance with the ISDA Credit Support
      Annex. If a Delivery Amount is demanded, the Swap Trustee shall set up an
      account in accordance with Section 4.09 to hold cash or other eligible
      investments pledged under the ISDA Credit Support Annex. Any cash or other
      eligible investments pledged under the ISDA Credit Support Annex shall not
      be
      part of the Distribution Account or the Swap Account unless they are applied
      in
      accordance with the ISDA Credit Support Annex to make a payment due to the
      Swap
      Contract Administrator pursuant to the Swap Contract. If Eligible Credit Support
      (as defined in the ISDA Credit Support Annex) with a value equal to the Delivery
      Amount is not delivered, the Swap Trustee shall direct the Swap Contract
      Administrator to notify the Swap Counterparty of such failure.

     

    Upon
      the
      Swap Trustee obtaining actual knowledge of a Failure to Pay or Deliver (as
      defined in the Swap Contract), the Swap Trustee shall direct the Swap Contract
      Administrator to demand payment under the Swap Guarantee.

     

    Upon
      the
      Swap Trustee obtaining actual knowledge of an Event of Default (as defined
      in
      the Swap Contract) or Termination Event (as defined in the Swap Contract) for
      which the Swap Contract Administrator has the right to designate an Early
      Termination Date (as defined in the Swap Contract), the Swap Trustee shall
      act
      at the written direction of the Depositor as to whether to direct the Swap
      Contract Administrator to designate an Early Termination Date; provided,
      however, that the Swap Trustee shall provide written notice to each Rating
      Agency following the Event of Default or Termination Event. Upon the termination
      of the Swap Contract under the circumstances contemplated by this Section 3.21,
      the Swap Trustee shall use its reasonable best efforts to enforce the rights
      of
      the Swap Contract Administrator as may be permitted by the terms of the Swap
      Contract and consistent with the terms hereof, and CHL shall assist the Swap
      Contract Administrator in procuring a replacement swap contract with terms
      approximating those of the original Swap Contract.

     

    In
      the
      event that the swap counterparty in respect of a replacement swap contract
      pays
      any upfront amount to the Swap Contract Administrator in connection with
      entering into the replacement swap contract and such upfront amount is received
      by the Swap Contract Administrator prior to the Distribution Date on which
      any
      Swap Termination Payment will be payable to the Swap Counterparty in respect
      of
      the original Swap Contract, a portion of that upfront amount equal to the lesser
      of (x) that upfront amount and (y) the amount of the Swap Termination Payment
      due to the Swap Counterparty in respect of the original Swap Contract (the
      “Adjusted Replacement Upfront Amount”) shall be included in Interest Funds for
      Loan Group 1 and Loan Group 2 pro rata based on their respective Interest Funds
      for that Distribution Date and any upfront amount in excess of the Adjusted
      Replacement Upfront Amount shall be distributed to CHL and will not be available
      to make distributions in respect of any Class of Certificates. Any upfront
      amount paid to the Swap Contract Administrator by the swap counterparty in
      respect of a replacement swap contract after the Distribution Date on which
      any
      Swap Termination Payment will be payable to the Swap Counterparty in respect
      of
      the original Swap Contract, such upfront amount shall be retained by the Swap
      Contract Administrator and remitted to the Swap Trustee on subsequent
      Distribution Dates up to and including the Swap Contract Termination Date to
      pay
      any amounts distributable to the Interest-Bearing Certificates pursuant to
      Section 4.04(d)(3) through (8) that will remain unpaid following all
      distributions to be made on such Distribution Date pursuant to Section 4.04(a)
      through (c).

     

    Any
      portion of any Net Swap Payment or Swap Termination Payment payable by the
      Swap
      Counterparty and not remitted by the Swap Contract Administrator to the Swap
      Trustee with respect to any Distribution Date will be remitted to CHL and will
      not be available to make distributions in respect of any Class of
      Certificates.

     

    The
      Swap
      Counterparty shall be an express third party beneficiary of this Agreement
      for
      the purpose of enforcing the provisions hereof to the extent of the Swap
      Counterparty’s rights explicitly specified herein as if a party
      hereto.

     

    ARTICLE
      IV.

     

    DISTRIBUTIONS
      AND ADVANCES BY THE MASTER SERVICER

     

    Section
      4.01 Advances;
      Remittance Reports.

     

    (a) Within
      two Business Days after each Determination Date, the Master Servicer shall
      deliver to the Trustee by facsimile or electronic mail (or by such other means
      as the Master Servicer and the Trustee, as the case may be, may agree from
      time
      to time) a Remittance Report with respect to the related Distribution Date.
      The
      Trustee shall not be responsible to recompute, recalculate or verify any
      information provided to it by the Master Servicer.

     

    (b) Subject
      to the conditions of this Article IV, the Master Servicer, as required below,
      shall make an Advance and deposit such Advance in the Certificate Account.
      Each
      such Advance shall be remitted to the Certificate Account no later than 1:00
      p.m. Pacific time on the Master Servicer Advance Date in immediately available
      funds. The Trustee will provide notice to the Master Servicer by facsimile
      by
      the close of business on any Master Servicer Advance Date in the event that
      the
      amount remitted by the Master Servicer to the Trustee on the Distribution
      Account Deposit Date is less than the Advances required to be made by the Master
      Servicer for such Distribution Date. The Master Servicer shall be obligated
      to
      make any such Advance only to the extent that such advance would not be a
      Nonrecoverable Advance. If the Master Servicer shall have determined that it
      has
      made a Nonrecoverable Advance or that a proposed Advance or a lesser portion
      of
      such Advance would constitute a Nonrecoverable Advance, the Master Servicer
      shall deliver (i) to the Trustee for the benefit of the Certificateholders
      funds
      constituting the remaining portion of such Advance, if applicable, and (ii)
      to
      the Depositor, each Rating Agency and the Trustee an Officer’s Certificate
      setting forth the basis for such determination.

     

    (c) In
      lieu
      of making all or a portion of such Advance from its own funds, the Master
      Servicer may (i) cause to be made an appropriate entry in its records relating
      to the Certificate Account that any Amount Held for Future Distributions has
      been used by the Master Servicer in discharge of its obligation to make any
      such
      Advance and (ii) transfer such funds from the Certificate Account to the
      Distribution Account. Any funds so applied and transferred shall be replaced
      by
      the Master Servicer by deposit in the Certificate Account no later than the
      close of business on the Business Day immediately preceding the Distribution
      Date on which such funds are required to be distributed pursuant to this
      Agreement. The Master Servicer shall be entitled to be reimbursed from the
      Certificate Account for all Advances of its own funds made pursuant to this
      Section as provided in Section 3.08. The obligation to make Advances with
      respect to any Mortgage Loan shall continue until such Mortgage Loan is paid
      in
      full or becomes a Liquidated Mortgage Loan or until the purchase or repurchase
      thereof (or substitution therefor) from the Trustee pursuant to any applicable
      provision of this Agreement, except as otherwise provided in this Section
      4.01.

     

    (d) If
      the
      Master Servicer determines that it will be unable to comply with its obligation
      to make the Advances as and when described in paragraphs (b) and (c) immediately
      above, it shall use its best efforts to give written notice thereof to the
      Trustee (each such notice a “Trustee Advance Notice”; and such notice may be
      given by facsimile), not later than 3:00 p.m., New York time, on the Business
      Day immediately preceding the related Master Servicer Advance Date, specifying
      the amount that it will be unable to deposit (each such amount an “Advance
      Deficiency”) and certifying that such Advance Deficiency constitutes an Advance
      hereunder and is not a Nonrecoverable Advance. If the Trustee receives a Trustee
      Advance Notice on or before 3:30 p.m., (New York time) on a Master Servicer
      Advance Date, the Trustee shall, not later than 3:00 p.m., (New York time),
      on
      the related Distribution Date, deposit in the Distribution Account an amount
      equal to the Advance Deficiency identified in such Trustee Advance Notice unless
      it is prohibited from so doing by applicable law. Notwithstanding the foregoing,
      the Trustee shall not be required to make such deposit if the Trustee shall
      have
      received written notification from the Master Servicer that the Master Servicer
      has deposited or caused to be deposited in the Certificate Account an amount
      equal to such Advance Deficiency. All Advances made by the Trustee pursuant
      to
      this Section 4.01(d) shall accrue interest on behalf of the Trustee at the
      Trustee Advance Rate from and including the date such Advances are made to
      but
      excluding the date of repayment, with such interest being an obligation of
      the
      Master Servicer and not the Trust Fund. The Master Servicer shall reimburse
      the
      Trustee for the amount of any Advance made by the Trustee pursuant to this
      Section 4.01(d) together with accrued interest, not later than 6:00 p.m. (New
      York time) on the Business Day following the related Distribution Date. In
      the
      event that the Master Servicer does not reimburse the Trustee in accordance
      with
      the requirements of the preceding sentence, the Trustee shall immediately (i)
      terminate all of the rights and obligations of the Master Servicer under this
      Agreement in accordance with Section 7.01 and (ii) subject to the limitations
      set forth in Section 3.04, assume all of the rights and obligations of the
      Master Servicer hereunder.

     

    (e) The
      Master Servicer shall, not later than the close of business on the second
      Business Day immediately preceding each Distribution Date, deliver to the
      Trustee a report (in form and substance reasonably satisfactory to the Trustee)
      that indicates (i) the Mortgage Loans with respect to which the Master Servicer
      has determined that the related Scheduled Payments should be advanced and (ii)
      the amount of the related Scheduled Payments. The Master Servicer shall deliver
      to the Trustee on the related Master Servicer Advance Date an Officer’s
      Certificate of a Servicing Officer indicating the amount of any proposed Advance
      determined by the Master Servicer to be a Nonrecoverable Advance.

     

    Section
      4.02 Reduction
      of Servicing Compensation in Connection with Prepayment Interest
      Shortfalls.

     

    In
      the
      event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall,
      the Master Servicer shall remit any related Compensating Interest as part of
      the
      related Interest Remittance Amount as provided in this Agreement. The Master
      Servicer shall not be entitled to any recovery or reimbursement for Compensating
      Interest from the Depositor, the Trustee, any Seller, the Trust Fund or the
      Certificateholders.

     

    Section
      4.03 [Reserved].

     

    Section
      4.04 Distributions.

     

    (a) On
      each
      Distribution Date, the Interest Funds for such Distribution Date shall be
      distributed by the Trustee from the Distribution Account in the following order
      of priority:

     

    (i) from
      the
      Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest
      Funds for each such Loan Group, to the Swap Account, the amount of any Net
      Swap
      Payment and any Swap Termination Payment (other than a Swap Termination Payment
      due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty
      with
      respect to such Distribution Date;

     

    (ii) concurrently:

     

    (a) from
      Interest Funds for Loan Group 1, to the Class 1-A Certificates, the Current
      Interest and Interest Carry Forward Amount for such Class and such Distribution
      Date,

     

    (b) from
      Interest Funds for Loan Group 2, concurrently to each Class of Class 2-A
      Certificates, the Current Interest and Interest Carry Forward Amount for each
      such Class and such Distribution Date, pro rata, based on their respective
      entitlements,

     

    (iii) from
      the
      remaining Interest Funds for Loan Group 1 and Loan Group 2, concurrently to
      each
      Class of Class A Certificates, any remaining Current Interest and Interest
      Carry
      Forward Amount not paid pursuant to clause (ii)(a) and (ii)(b), pro rata, based
      on the Certificate Principal Balances thereof, to the extent needed to pay
      any
      Current Interest and Interest Carry Forward Amount for each such Class; provided
      that Interest Funds remaining after such allocation to pay any Current Interest
      and Interest Carry Forward Amount based on the Certificate Principal Balances
      of
      the Certificates will be distributed to each Class of Class A Certificates
      with
      respect to which there remains any unpaid Current Interest and Interest Carry
      Forward Amount (after the distribution based on Certificate Principal Balances),
      pro rata, based on the amount of such remaining unpaid Current Interest and
      Interest Carry Forward Amount,

     

    (iv) from
      the
      remaining Interest Funds for Loan Group 1 and Loan Group 2,
      sequentially:

     

    (a) sequentially,
      to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class
      M-7, Class M-8, Class M-9 and Class B Certificates, in that order, the Current
      Interest for each such Class, and

     

    (b) any
      remainder as part of the Excess Cashflow.

     

    (b) On
      each
      Distribution Date, the Principal Distribution Amount for such Distribution
      Date
      with respect to Loan Group 1 and Loan Group 2 shall be distributed by the
      Trustee from the Distribution Account in the following order of
      priority:

     

    (1) with
      respect to any Distribution Date prior to the Stepdown Date or on which a
      Trigger Event is in effect, sequentially:

     

    (A) concurrently:

     

    (i) from
      the
      Principal Distribution Amount for Loan Group 1, sequentially:

     

    (a) to
      the
      Class A-R Certificates, until the Certificate Principal Balance thereof is
      reduced to zero;

     

    (b) to
      the
      Class 1-A Certificates, until the Certificate Principal Balance thereof is
      reduced to zero; and

     

    (c) to
      the
      Classes of Class 2-A Certificates (after the distribution of the Principal
      Distribution Amount from Loan Group 2 as provided in clause (ii)(a) below),
      in
      the order and priorities set forth in clause (3) below, until the Certificate
      Principal Balances thereof are reduced to zero;

     

    (ii) from
      the
      Principal Distribution Amount for Loan Group 2, sequentially:

     

    (a) to
      the
      Classes of Class 2-A Certificates, in the order and priorities set forth in
      clause (3) below, until the Certificate Principal Balances thereof are reduced
      to zero; and

     

    (b) to
      the
      Class 1-A Certificates (after the distribution of the Principal Distribution
      Amount from Loan Group 1 as provided in clause (i)(a) above), until the
      Certificate Principal Balance thereof is reduced to zero;

     

    (B) from
      the
      remaining Principal Distribution Amounts for Loan Group 1 and Loan Group 2,
      sequentially:

     

    (i) sequentially,
      to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class
      M-7, Class M-8, Class M-9 and Class B Certificates, in that order, in each
      case
      until the Certificate Principal Balance thereof is reduced to zero,

     

    (ii) any
      remainder as part of the Excess Cashflow.

     

    (2) For
      each
      Distribution Date on or after the Stepdown Date and so long as a Trigger Event
      is not in effect, sequentially:

     

    (A) in
      an
      amount up to the Class A Principal Distribution Target Amount, pro rata based
      on
      the related Class A Principal Distribution Allocation Amount for the Class
      1-A
      and Class 2-A Certificates, concurrently:

     

    (i) to
      the
      Class 1-A Certificates, in an amount up to the Class 1-A Principal Distribution
      Amount, until the Certificate Principal Balance thereof is reduced to zero,
      and

     

    (ii) to
      the
      Classes of Class 2-A Certificates, in an amount up to the Class 2-A Principal
      Distribution Amount, allocated in the amounts and order of priority set forth
      in
      clause (3) below, until the Certificate Principal Balances thereof are reduced
      to zero,

     

    provided,
      however, that if (a) the Certificate Principal Balance of the Class 1-A
      Certificates or (b) the aggregate Certificate Principal Balance of the Class
      2-A
      Certificates is reduced to zero, then any remaining unpaid Class A Principal
      Distribution Target Amount will be distributed to the remaining class(es) of
      Senior Certificates after distributions pursuant to clauses (i) and (ii) above
      (and, in the case of the Class 2-A Certificates, in the amounts and order of
      priority described in clause (3) below), until the Certificate Principal
      Balance(s) thereof is/are reduced to zero,

     

    (B) from
      the
      remaining Principal Distribution Amounts for Loan Group 1 and Loan Group 2,
      sequentially:

     

    (i) sequentially,
      to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class
      M-7, Class M-8, Class M-9 and Class B Certificates, in that order, the
      Subordinate Class Principal Distribution Amount for that class, in each case
      until the Certificate Principal Balance thereof is reduced to zero,
      and

     

    (ii) any
      remainder as part of the Excess Cashflow.

     

    (3) On
      each
      Distribution Date on which any principal amounts are to be distributed to the
      Class 2-A Certificates, those amounts will be distributed sequentially, to
      the
      Class 2-A-1, Class 2-A-2, Class 2-A-3 and Class 2-A-4 Certificates, in that
      order, in each case until the Certificate Principal Balance thereof is reduced
      to zero.

     

    (c) With
      respect to any Distribution Date, any Excess Cashflow shall be distributed
      to
      the Classes of Certificates in the following order of priority, to the extent
      of
      the remaining Excess Cashflow:

     

    (1) to
      the
      Holders of the Class or Classes of Interest-Bearing Certificates then entitled
      to receive distributions in respect of principal, in an aggregate amount equal
      to the Extra Principal Distribution Amount for each Loan Group, payable to
      such
      Holders of each such Class as part of the Principal Distribution Amount for
      Loan
      Group 1 and Loan Group 2 pursuant to Section 4.04(b) above;

     

    (2) concurrently,
      to the Holders of the Class A Certificates, pro rata based on the Unpaid
      Realized Loss Amounts for such Classes, in each case in an amount equal to
      the
      Unpaid Realized Loss Amount for such Class;

     

    (3) sequentially,
      to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5,
      Class M-6, Class M-7, Class M-8, Class M-9 and Class B Certificates, in that
      order, in each case first in an amount equal to any Interest Carry Forward
      Amount for such Class and then in an amount equal to the Unpaid Realized Loss
      Amount for such Class;

     

    (4) to
      the
      Carryover Reserve Fund and from the Carryover Reserve Fund to the Holders of
      each Class of Interest-Bearing Certificates, pro rata based on the Certificate
      Principal Balances thereof, to the extent needed to pay any Net Rate Carryover
      for each such Class; provided that any Excess Cashflow remaining after such
      allocation to pay Net Rate Carryover based on the Certificate Principal Balances
      of those Certificates shall be distributed to each Class of Interest-Bearing
      Certificates with respect to which there remains any unpaid Net Rate Carryover
      (after the distribution based on Certificate Principal Balances), pro rata,
      based on the amount of such unpaid Net Rate Carryover;

     

    (5) to
      the
      Carryover Reserve Fund, in an amount equal to the Required Carryover Reserve
      Fund Deposit (after giving effect to other deposits and withdrawals therefrom
      on
      such Distribution Date);

     

    (6) to
      the
      Swap Account, in an amount equal to any Swap Termination Payment due to the
      Swap
      Counterparty as a result of a Swap Counterparty Trigger Event;

     

    (7) to
      the
      Class C Certificateholders, (x) the Class C Current Interest for such
      Distribution Date and (y) the Overcollateralization Reduction Amount
for
      such
      Distribution Date;
      and

     

    (8) to
      the
      Class A-R Certificates, any remaining amount.

     

    (d) On
      each
      Distribution Date on or prior to the Swap Contract Termination Date, following
      the deposits to the Swap Account pursuant to Section 4.04(a)(i) and Section
      4.09
      and the distributions described under Section 4.04(c), the Swap Trustee shall
      distribute amounts on deposit in the Swap Account in the following amounts
      and
      order of priority:

     

    (1) to
      the
      Swap Contract Administrator for payment to the Swap Counterparty, any Net Swap
      Payment payable to the Swap Counterparty with respect to such Distribution
      Date;

     

    (2) to
      the
      Swap Contract Administrator for payment to the Swap Counterparty, any Swap
      Termination Payment (other than a Swap Termination Payment due to a Swap
      Counterparty Trigger Event) payable to the Swap Counterparty with respect to
      such Distribution Date;

     

    (3) concurrently
      to the Holders of each Class of Class A Certificates, any remaining Current
      Interest and Interest Carry Forward Amount, pro rata based on their respective
      entitlements;

     

    (4) sequentially,
      to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5,
      Class M-6, Class M-7, Class M-8, Class M-9 and Class B Certificates, in that
      order, in each case in an amount equal to any remaining Current Interest and
      Interest Carry Forward Amount for such Class;

     

    (5) to
      the
      Holders of the Class or Classes of Interest-Bearing Certificates then entitled
      to receive distributions in respect of principal, in an aggregate amount equal
      to the Overcollateralization Deficiency Amount remaining unpaid following the
      distributions described under Section 4.04(c), payable to such Holders of each
      such Class in the same manner in which the Extra Principal Distribution Amount
      in respect of Loan Group 1 and Loan Group 2 would be distributed to such Classes
      as described under Section 4.04(c);

     

    (6) to
      the
      Holders of each Class of Class A Certificates and Subordinate Certificates,
      to
      the extent needed to pay any remaining Net Rate Carryover for each such Class,
      pro rata, based on the amount of such remaining Net Rate Carryover;

     

    (7) concurrently,
      to the Holders of each Class of Class A Certificates, pro rata, based on the
      remaining Unpaid Realized Loss Amounts for such Classes, in each case in an
      amount equal to the remaining Unpaid Realized Loss Amount for each such Class;
      and

     

    (8) sequentially,
      to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5,
      Class M-6, Class M-7, Class M-8, Class M-9 and Class B Certificates, in that
      order, in each case in an amount equal to the remaining Unpaid Realized Loss
      Amount for each such Class.

     

    On
      each
      Distribution Date on or prior to the Swap Contract Termination Date, the Swap
      Trustee shall distribute any remaining amounts on deposit in the Swap Account
      to
      the Swap Contract Administrator for payment to the Swap Counterparty, any Swap
      Termination Payment due to a Swap Counterparty Trigger Event payable to the
      Swap
      Counterparty with respect to such Distribution Date.

     

    (e) To
      the
      extent that a Class of Interest-Bearing Certificates receives interest in excess
      of the applicable Net Rate Cap, if such interest is paid pursuant to Section
      4.04(c), then it shall be deemed to have been paid to the Carryover Reserve
      Fund
      and then paid by the Carryover Reserve Fund to those Certificateholders, and
      if
      such interest is paid pursuant to Section 4.04(d), then such interest shall
      be
      deemed to have been paid to the Swap Account and then paid by the Swap Account
      to those Certificateholders. For purposes of the Code, amounts deemed deposited
      in the Carryover Reserve Fund shall be deemed to have first been distributed
      to
      the Class C Certificates.

     

    (f) On
      each
      Distribution Date, all Prepayment Charges (including amounts deposited in
      connection with the full or partial waiver of such Prepayment Charges pursuant
      to Section 3.20) shall be allocated to the Class P Certificates. On the Class
      P
      Principal Distribution Date, the Trustee shall make the $100.00 distribution
      to
      the Class P Certificates as specified in Section 3.08.

     

    (g) On
      each
      Distribution Date, the Trustee shall allocate any Applied Realized Loss Amount
      to reduce the Certificate Principal Balances of the Class B, Class M-9, Class
      M-8, Class M-7, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class
      M-1 Certificates, sequentially, in that order, in each case until the
      Certificate Principal Balance thereof is reduced to zero. After the Certificate
      Principal Balances of the Subordinate Certificates have been reduced to zero,
      (i) the Trustee shall allocate any Applied Realized Loss Amount with respect
      to
      Loan Group 1 to reduce the Certificate Principal Balance of the Class 1-A
      Certificates, until the Certificate Principal Balance of such Class has been
      reduced to zero, and (ii) the Trustee shall allocate any Applied Realized Loss
      Amount with respect to Loan Group 2 to reduce the Certificate Principal Balances
      of each Class of Class 2-A Certificates, on a pro rata basis according to their
      respective Certificate Principal Balances, until the Certificate Principal
      Balances of such Classes have been reduced to zero.

     

    (h) On
      each
      Distribution Date, the Trustee shall allocate the amount of the Subsequent
      Recoveries with respect to either Loan Group, if any, first to increase the
      Certificate Principal Balance of the Class 1-A Certificates (in the case of
      any
      Subsequent Recoveries with respect to Loan Group 1) or the Certificate Principal
      Balances of the Classes of Class 2-A Certificates (in the case of any Subsequent
      Recoveries with respect to Loan Group 2) to which Applied Realized Loss Amounts
      have been previously allocated (such increases, in the case of Subsequent
      Recoveries with respect to Loan Group 2, to be made among the Classes of Class
      2-A Certificates on a pro rata basis according to their respective Certificate
      Principal Balances), in each case by not more than the amount of the Unpaid
      Realized Loss Amount of such Class, and then to increase the Certificate
      Principal Balance of the Subordinate Certificates to which Applied Realized
      Loss
      Amounts have been previously allocated, sequentially, to the Class M-1, Class
      M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class
      M-9
      and Class B Certificates, in that order, in each case by not more than the
      amount of the Unpaid Realized Loss Amount of such Class.

     

    Holders
      of Certificates to which any Subsequent Recoveries have been allocated shall
      not
      be entitled to any payment in respect of Current Interest on the amount of
      such
      increases for any Accrual Period preceding the Distribution Date on which such
      increase occurs.

     

    Subject
      to Section 9.02 hereof respecting the final distribution, on each Distribution
      Date the Trustee shall make distributions to each Certificateholder of record
      on
      the preceding Record Date either by wire transfer in immediately available
      funds
      to the account of such Holder at a bank or other entity having appropriate
      facilities therefor, if (i) such Holder has so notified the Trustee at least
      five Business Days prior to the related Record Date and (ii) such Holder shall
      hold Regular Certificates with an aggregate initial Certificate Principal
      Balance of not less than $1,000,000 or evidencing a Percentage Interest
      aggregating 10% or more with respect to such Class or, if not, by check mailed
      by first class mail to such Certificateholder at the address of such Holder
      appearing in the Certificate Register. Notwithstanding the foregoing, but
      subject to Section 9.02 hereof respecting the final distribution, distributions
      with respect to Certificates registered in the name of a Depository shall be
      made to such Depository in immediately available funds.

     

    On
      or
      before 5:00 p.m. Pacific time on the fifth Business Day following each
      Determination Date (but in no event later than 5:00 p.m. Pacific time on the
      third Business Day before the related Distribution Date), the Master Servicer
      shall deliver a report to the Trustee (in the form of a computer readable
      magnetic tape or by such other means as the Master Servicer and the Trustee
      may
      agree from time to time) containing such data and information as agreed to
      by
      the Master Servicer and the Trustee such as to permit the Trustee to prepare
      the
      Monthly Statement and make the required distributions for the related
      Distribution Date (the “Remittance Report”). The Trustee shall not be
      responsible to recompute, recalculate or verify information provided to it
      by
      the Master Servicer and shall be permitted to conclusively rely on any
      information provided to it by the Master Servicer.

     

    Section
      4.05 Monthly
      Statements to Certificateholders.

     

    (a) Concurrently
      with each distribution on a Distribution Date, the Trustee will forward by
      mail
      to each Rating Agency and make available to Certificateholders on the Trustee’s
      website (http://www.bnyinvestorreporting.com) a statement generally setting
      forth the information contained in Exhibit W.

     

    (b) The
      Trustee’s responsibility for disbursing the above information to the
      Certificateholders is limited to the availability, timeliness and accuracy
      of
      the information derived from the Master Servicer. The Trustee shall send a
      copy
      of each statement provided pursuant to this Section 4.05 to each Rating Agency
      and the NIM Insurer. The Trustee may make the above information available to
      Certificateholders via the Trustee’s website at
      http://www.bnyinvestorreporting.com.

     

    (c) Within
      a
      reasonable period of time after the end of each calendar year, the Trustee
      shall
      cause to be furnished to each Person who at any time during the calendar year
      was a Certificateholder, a statement containing the information regarding (i)
      the amount of distributions to that Certificateholder allocable to principal,
      separately identifying (A) the aggregate amount of any Principal Prepayments
      included therein and (B) the aggregate of all scheduled payments of principal
      included therein, (ii) the amount of distributions to that Certificateholder
      allocable to interest and (iii) the related amount of the Servicing Fees paid
      to
      or retained by the Master Servicer, in each case aggregated for such calendar
      year or applicable portion thereof during which such Person was a
      Certificateholder. Such obligation of the Trustee shall be deemed to have been
      satisfied to the extent that substantially comparable information shall be
      provided by the Trustee pursuant to any requirements of the Code as from time
      to
      time in effect.

     

    (d) Upon
      filing with the Internal Revenue Service, the Trustee shall furnish to the
      Holders of the Class A-R Certificates the Form 1066 and each Form 1066Q and
      shall respond promptly to written requests made not more frequently than
      quarterly by any Holder of Class A-R Certificates with respect to the following
      matters:

     

    (1) The
      original projected principal and interest cash flows on the Closing Date on
      each
      related Class of regular and residual interests created hereunder and on the
      Mortgage Loans, based on the Prepayment Assumption;

     

    (2) The
      projected remaining principal and interest cash flows as of the end of any
      calendar quarter with respect to each related Class of regular and residual
      interests created hereunder and the Mortgage Loans, based on the Prepayment
      Assumption;

     

    (3) The
      applicable Prepayment Assumption and any interest rate assumptions used in
      determining the projected principal and interest cash flows described
      above;

     

    (4) The
      original issue discount (or, in the case of the Mortgage Loans, market discount)
      or premium accrued or amortized through the end of such calendar quarter with
      respect to each related Class of regular or residual interests created hereunder
      and to the Mortgage Loans, together with each constant yield to maturity used
      in
      computing the same;

     

    (5) The
      treatment of losses realized with respect to the Mortgage Loans or the regular
      interests created hereunder, including the timing and amount of any cancellation
      of indebtedness income of the related REMIC with respect to such regular
      interests or bad debt deductions claimed with respect to the Mortgage
      Loans;

     

    (6) The
      amount and timing of any non-interest expenses of the related REMIC;
      and

     

    (7) Any
      taxes
      (including penalties and interest) imposed on the related REMIC, including,
      without limitation, taxes on “prohibited transactions,” “contributions” or “net
      income from foreclosure property” or state or local income or franchise
      taxes.

     

    The
      information pursuant to clauses (1), (2), (3) and (4) above shall be provided
      by
      the Depositor pursuant to Section 8.11.

     

    Section
      4.06 [Reserved].

     

    Section
      4.07 Carryover
      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 Certificates, the Carryover Reserve Fund
      and
      shall deposit $1,000 therein. The Carryover 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 held by the Trustee pursuant to this Agreement. Funds on deposit
      in
      the Carryover Reserve Fund shall be held uninvested.

     

    (b) The
      Trustee shall make withdrawals from the Carryover Reserve Fund to make
      distributions in respect of Net Rate Carryover as to the extent required by
      Section 4.04.

     

    (c) The
      Carryover Reserve Fund shall not constitute an asset of any REMIC created
      hereunder. The Class C Certificates shall evidence ownership of the Carryover
      Reserve Fund for federal tax purposes.

     

    Section
      4.08 [reserved].

     

    Section
      4.09 Swap
      Trust and Swap Account.

     

    On
      the
      Closing Date, there is hereby established a separate trust (the “Swap Trust”),
      the assets of which shall consist of the Trustee’s rights and obligations under
      the Swap Contract Administration Agreement. The Swap Trust shall be maintained
      by the Swap Trustee, who initially, shall be the Trustee. The Swap Trustee
      shall
      hold the assets of the Swap Trust in trust for the benefit of the Holders of
      the
      Interest-Bearing Certificates and the Swap Counterparty. No later than the
      Closing Date, the Swap Trustee shall establish and maintain a separate,
      segregated trust account to be held in the Swap Trust, titled, “Swap Account,
      The Bank of New York, as Swap Trustee, in trust for the Swap Counterparty and
      the registered holders of CWABS, Inc., Asset-Backed Certificates, Series
      2006-BC2.” Such 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 moneys, including, without limitation, other moneys of the Trustee
      held pursuant to this Agreement. Amounts therein shall be held uninvested.
      Funds
      on deposit in the Swap Account shall be distributed in the amounts and in the
      order of priority described under Section 4.04(d). For federal income tax
      purposes, the Swap Trust, including the Swap Account, shall be owned by the
      Class C Certificates.

     

    On
      each
      Distribution Date, the Trustee shall make a deposit to the Swap Account pursuant
      to Section 4.04(a)(i), and to the extent that the amount of such deposit is
      insufficient to pay any Net Swap Payment and/or Swap Termination Payment (other
      than a Swap Termination Payment due to a Swap Counterparty Trigger Event) due
      to
      the Swap Counterparty with respect to such Distribution Date, the Trustee shall
      withdraw, out of amounts on deposit in the Distribution Account in respect
      of
      the Principal Remittance Amount for Loan Group 1 and Loan Group 2, pro rata
      on
      the basis of those respective Principal Remittance Amounts, such additional
      amount as is necessary to cover the remaining portion of any such Net Swap
      Payment and/or Swap Termination Payment (other than a Swap Termination Payment
      due to a Swap Counterparty Trigger Event) due to the Swap Counterparty with
      respect to such Distribution Date. For federal income tax purposes, any amounts
      paid to the Swap Counterparty on each Distribution Date shall first be deemed
      paid to the Swap Counterparty in respect of the Class SWAP-IO Interest to the
      extent of the amount distributable on such Class SWAP-IO Interest on such
      Distribution Date, and any remaining amount shall be deemed paid to the Swap
      Counterparty in respect of a Class IO Distribution Amount (as defined
      below).

     

    The
      Trustee shall treat the Holders of Certificates (other than the Class P, Class
      C
      and Class A-R Certificates) as having entered into a notional principal contract
      with respect to the Holders of the Class C Certificates. Pursuant to each such
      notional principal contract, all Holders of Certificates (other than the Class
      P, Class C and Class A-R Certificates) shall be treated as having agreed to
      pay,
      on each Distribution Date, to the Holder of the Class C Certificates an
      aggregate amount equal to the excess, if any, of (i) the amount payable on
      such
      Distribution Date on the REMIC 3 Regular Interest corresponding to such Class
      of
      Certificates over (ii) the amount payable on such Class of Certificates on
      such
      Distribution Date (such excess, a “Class IO Distribution Amount”). A Class IO
      Distribution Amount payable from interest collections shall be allocated
pro
      rata
      among
      such Certificates based on the excess of (a) the amount of interest otherwise
      payable to such Certificates over (ii) the amount of interest payable to such
      Certificates at a per annum rate equal to the Pass-Through Rate, and a Class
      IO
      Distribution Amount payable from principal collections shall be allocated to
      the
      most subordinate Class of Certificates with an outstanding principal balance
      to
      the extent of such balance. In addition, pursuant to such notional principal
      contract, the Holder of the Class C Certificates shall be treated as having
      agreed to pay Net Rate Carryover to the Holders of the Certificates (other
      than
      the Class C, Class P and Class A-R Certificates) in accordance with the terms
      of
      this Agreement. Any payments to the Certificates from amounts deemed received
      in
      respect of this notional principal contract shall not be payments with respect
      to a Regular Interest in a REMIC within the meaning of Code Section 860G(a)(1).
      However, any payment from the Certificates (other than the Class C, Class P
      and
      Class A-R Certificates) of a Class IO Distribution Amount shall be treated
      for
      tax purposes as having been received by the Holders of such Certificates in
      respect of their interests in REMIC 3 and as having been paid by such Holders
      to
      the Swap Contract Administrator pursuant to the notional principal contract.
      Thus, each Certificate (other than the Class P and Class A-R Certificates)
      shall
      be treated as representing not only ownership of Regular Interests in REMIC
      3,
      but also ownership of an interest in, and obligations with respect to, a
      notional principal contract.

     

    Section
      4.10 Distributions
      on REMIC 1 and REMIC 2 Regular Interests.

     

    (a) On
      each
      Distribution Date, the following amounts, in the following order of priority,
      shall be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular
      Interests and distributed to the holders of the Class A-R Certificates (in
      respect of the R-1-R Interest), as the case may be: 

     

    With
      respect to the Group 1 Mortgage Loans:

     

    (i) to
      Holders of REMIC 1 Regular Interest I and each REMIC 1 Regular Interest I-1-A
      through I-35-B, pro
      rata,
      in an
      amount equal to (A) Uncertificated Interest for such REMIC 1 Regular Interests
      for such Distribution Date, plus (B) any amounts payable in respect thereof
      remaining unpaid from previous Distribution Dates.

     

    (ii) to
      the
      extent of amounts remaining after the distributions made pursuant to clause
      (i)
      above, payments of principal shall be allocated as follows: first to REMIC
      1
      Regular Interest I, then to REMIC 1 Regular interests I-1-A through I-35-B
      starting with the lowest numerical denomination until the Uncertificated
      Principal Balance of each such REMIC 1 Regular Interest is reduced to zero,
      provided that, for REMIC 1 Regular Interests with the same numerical
      denomination, such payments of principal shall be allocated pro
      rata
      between
      such REMIC 1 Regular Interests. 

     

    With
      respect to the Group 2 Mortgage Loans:

     

    (i) to
      Holders of REMIC 1 Regular Interest II and each REMIC 1 Regular Interest II-1-A
      through II-35-B, pro
      rata,
      in an
      amount equal to (A) Uncertificated Interest for such REMIC 1 Regular Interests
      for such Distribution Date, plus (B) any amounts payable in respect thereof
      remaining unpaid from previous Distribution Dates.

     

    (ii) to
      the
      extent of amounts remaining after the distributions made pursuant to clause
      (i)
      above, payments of principal shall be allocated as follows: first, to REMIC
      1
      Regular Interest II, then to REMIC 1 Regular interests II-1-A through II-35-B
      starting with the lowest numerical denomination until the Uncertificated
      Principal Balance of each such REMIC 1 Regular Interest is reduced to zero,
      provided that, for REMIC 1 Regular Interests with the same numerical
      denomination, such payments of principal shall be allocated pro
      rata
      between
      such REMIC 1 Regular Interests. 

     

    On
      each
      Distribution Date, all amounts representing Prepayment Charges in respect of
      the
      Mortgage Loans received during the related Prepayment Period shall be
      distributed by REMIC 1 to the Holders of REMIC 1 Regular Interest LT-P. The
      payment of the foregoing amounts to the Holders of such REMIC 1 Regular Interest
      shall not reduce the Uncertificated Principal Balance thereof.

     

    (b) On
      each
      Distribution Date, the following amounts, in the following order of priority,
      shall be distributed by REMIC 2 to REMIC 3 on account of the REMIC 2 Regular
      Interests and distributed to the Holders of the Class A-R Certificates (in
      respect of the R-2-R Interest), as the case may be:

     

    (i) first,
      to
      the Holders of REMIC 2 Regular Interest II-IO, in an amount equal to (A)
      Uncertificated Interest for such REMIC 2 Regular Interest for such Distribution
      Date, plus (B) any amounts in respect thereof remaining unpaid from previous
      Distribution Dates and second, to the extent of the REMIC 2 Marker Allocation
      Percentage of the Interest Funds remaining after the distributions pursuant
      to
      clause (i), to the Holders of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular
      Interest LT-1A, REMIC 2 Regular Interest LT-2A1, REMIC 2 Regular Interest
      LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2 Regular Interest LT-2A4, REMIC
      2 Regular Interest LT-M1, REMIC 2 Regular Interest LT-M2, REMIC 2 Regular
      Interest LT-M3, REMIC 2 Regular Interest LT-M4, REMIC 2 Regular Interest LT-M5,
      REMIC 2 Regular Interest LT-M6, REMIC 2 Regular Interest LT-M7, REMIC 2 Regular
      Interest LT-M8, REMIC 2 Regular Interest LT-M9, REMIC 2 Regular Interest LT-B
      and REMIC 2 Regular Interest LT-ZZ, pro
      rata,
      in an
      amount equal to (A) the Uncertificated Interest for such Distribution Date,
      plus
      (B) any amounts in respect thereof remaining unpaid from previous Distribution
      Dates. Amounts payable as Uncertificated Interest in respect of REMIC 2 Regular
      Interest LT-ZZ shall be reduced and deferred when the REMIC 2 Overcollateralized
      Amount is less than the REMIC 2 Overcollateralization Target Amount, by the
      lesser of (x) the amount of such difference and (y) the Maximum LT-ZZ
      Uncertificated Interest Deferral Amount and such amount shall be payable to
      the
      Holders of REMIC 2 Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1,
      REMIC 2 Regular Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2
      Regular Interest LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular
      Interest LT-M2, REMIC 2 Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4,
      REMIC 2 Regular Interest LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular
      Interest LT-M7, REMIC 2 Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9
      and REMIC 2 Regular Interest LT-B in the same proportion as the
      Overcollateralization Deficiency Amount is allocated to the Corresponding
      Certificates and the Uncertificated Principal Balance of the REMIC 2 Regular
      Interest LT-ZZ shall be increased by such amount;

     

    (ii) to
      the
      Holders of REMIC 2 Regular Interests, in an amount equal to the remainder of
      the
      REMIC 2 Marker Allocation Percentage of the Principal Distribution Amount for
      such Distribution Date after the distributions made pursuant to clause (i)
      above, allocated as follows:

     

    (a) 98.00%
      of
      such remainder (other than amounts payable under clause (c) below), to the
      Holders of REMIC 2 Regular Interest LT-AA and REMIC 2 Regular Interest LT-P,
      until the Uncertificated Balance of such REMIC 2 Regular Interest is reduced
      to
      zero, provided, however, that REMIC 2 Regular Interest LT-P shall not be reduced
      until the Distribution Date immediately following the expiration of the latest
      Prepayment Charge as identified on the Prepayment Charge Schedule or any
      Distribution Date thereafter, at which point such amount shall be distributed
      to
      REMIC 2 Regular Interest LT-P, until $100 has been distributed pursuant to
      this
      clause;

     

    (b) 2.00%
      of
      such remainder (other than amounts payable under clause (c) below) first, to
      the
      Holders of REMIC 2 Regular Interest LT-1A, REMIC 2 Regular Interest LT-2A1,
      REMIC 2 Regular Interest LT-2A2, REMIC 2 Regular Interest LT-2A3, REMIC 2
      Regular Interest LT-2A4, REMIC 2 Regular Interest LT-M1, REMIC 2 Regular
      Interest LT-M2, REMIC 2 Regular Interest LT-M3, REMIC 2 Regular Interest LT-M4,
      REMIC 2 Regular Interest LT-M5, REMIC 2 Regular Interest LT-M6, REMIC 2 Regular
      Interest LT-M7, REMIC 2 Regular Interest LT-M8, REMIC 2 Regular Interest LT-M9
      and REMIC 2 Regular Interest LT-B, 1.00% and in the same proportion as principal
      payments are allocated to the Corresponding Certificates, until the
      Uncertificated Principal Balances of such REMIC 2 Regular Interests are reduced
      to zero and second, to the Holders of REMIC 2 Regular Interest LT-ZZ, until
      the
      Uncertificated Principal Balance of such REMIC 2 Regular Interest is reduced
      to
      zero; and

     

    (c) any
      remaining amount to the Holders of the Class A-R Certificates (in respect of
      the
      R-2-R Interest); and

     

    (iii) to
      the
      Holders of REMIC 2 Regular Interests, in an amount equal to the REMIC 2
      Subordinate Allocation Percentage of Interest Funds and the Principal
      Distribution Amount for such Distribution Date after the distributions made
      pursuant to clause (i) and (ii) above such that distributions of interest are
      deemed to be made to REMIC 2 Regular Interest LT-1SUB, REMIC 2 Regular Interest
      LT-1GRP, REMIC 2 Regular Interest LT-2SUB, REMIC 2 Regular Interest LT-2GRP
      and
      REMIC 2 Regular Interest LT-XX, pro rata, in an amount equal to (A) the
      Uncertificated Interest for each such REMIC 2 Regular Interest for such
      Distribution Date, plus (B) any amounts in respect thereof remaining unpaid
      from
      previous Distribution Dates and such that distributions of principal shall
      be
      deemed to be made to the REMIC 2 Regular Interests first,
      so as
      to keep the Uncertificated Principal Balance of each REMIC 2 Regular Interest
      ending with the designation “GRP” equal to 0.01% of the aggregate Stated
      Principal Balance of the Mortgage Loans in the related Loan Group; second,
      to each
      REMIC 2 Regular Interest ending with the designation “SUB,” so that the
      Uncertificated Principal Balance of each such REMIC 2 Regular Interest is equal
      to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the
      Mortgage Loans in the related Loan Group over (y) the current Certificate
      Principal Balance of the Class A Certificate in the related Loan Group (except
      that if any such excess is a larger number than in the preceding distribution
      period, the least amount of principal shall be distributed to such REMIC 2
      Regular Interests such that the REMIC 2 Subordinated Balance Ratio is
      maintained); and third,
      any
      remaining principal to REMIC 2 Regular Interest LT-XX.

     

    Notwithstanding
      the priorities and amounts of distribution of funds pursuant to this Section
      4.10, actual distributions of Interest Funds and the Principal Distribution
      Amount for any Distribution Date shall be made only in accordance with Section
      4.04.

     

    On
      each
      Distribution Date, 100% of the amounts distributed on REMIC 2 Regular Interest
      II-IO shall be deemed distributed by REMIC 2 to REMIC 3 in respect of the Class
      SWAP-IO Interest. Such amounts shall be deemed distributed by REMIC 3 to the
      Swap Contract Administrator for deposit into the Swap Account.

     

    Section
      4.11 Allocation
      of Realized Losses to REMIC 1 and REMIC 2 Regular Interests.

     

    (a) All
      Realized Losses on the Group 1 Mortgage Loans shall be allocated on each
      Distribution Date first, to REMIC 1 Regular Interest I, then to REMIC 1 Regular
      Interest I-1-A through REMIC II Regular Interest I-35-B, starting with the
      lowest numerical denomination until such REMIC 1 Regular Interest has been
      reduced to zero, provided that, for REMIC 1 Regular Interests with the same
      numerical denomination, such Realized Losses shall be allocated pro
      rata
      between
      such REMIC 1 Regular Interests. 

     

    All
      Realized Losses on the Group 2 Mortgage Loans shall be allocated on each
      Distribution Date, first to REMIC 1 Regular Interest I, then to REMIC 1 Regular
      Interest II-1-A through REMIC 1 Regular Interest II-35-B, starting with the
      lowest numerical denomination until such REMIC 1 Regular Interest has been
      reduced to zero, provided that, for REMIC 1 Regular Interests with the same
      numerical denomination, such Realized Losses shall be allocated pro
      rata
      between
      such REMIC 1 Regular Interests.

     

    (b) The
      REMIC
      2 Marker Allocation Percentage of all Realized Losses on the Mortgage Loans
      shall be allocated by the Trustee on each Distribution Date to the following
      REMIC 2 Regular Interests in the specified percentages, as follows: first,
      to
      Uncertificated Interest payable to the REMIC 2 Regular Interest LT-AA and REMIC
      2 Regular Interest LT-ZZ up to an aggregate amount equal to the REMIC 2 Interest
      Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated
      Principal Balances of the REMIC 2 Regular Interest LT-AA and REMIC 2 Regular
      Interest LT-ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss
      Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated
      Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest
      LT-B and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until
      the
      Uncertificated Principal Balance of REMIC 2 Regular Interest LT-B has been
      reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC
      2
      Regular Interest LT-AA, REMIC 2 Regular Interest LT-M9 and REMIC 2 Regular
      Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal
      Balance of REMIC 2 Regular Interest LT-M9 has been reduced to zero; fifth,
      to
      the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC
      2
      Regular Interest LT-M8 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%,
      respectively, until the Uncertificated Principal Balance of REMIC 2 Regular
      Interest LT-M8 has been reduced to zero; sixth, to the Uncertificated Principal
      Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M7
      and
      REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the
      Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M7 has been
      reduced to zero; seventh, to the Uncertificated Principal Balances of REMIC
      2
      Regular Interest LT-AA, REMIC 2 Regular Interest LT-M6 and REMIC 2 Regular
      Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal
      Balance of REMIC 2 Regular Interest LT-M6 has been reduced to zero; eighth,
      to
      the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC
      2
      Regular Interest LT-M5 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%,
      respectively, until the Uncertificated Principal Balance of REMIC 2 Regular
      Interest LT-M5 has been reduced to zero; ninth, to the Uncertificated Principal
      Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest LT-M4
      and
      REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until the
      Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M4 has been
      reduced to zero; tenth, to the Uncertificated Principal Balances of REMIC 2
      Regular Interest LT-AA, REMIC 2 Regular Interest LT-M3 and REMIC 2 Regular
      Interest LT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal
      Balance of REMIC 2 Regular Interest LT-M3 has been reduced to zero; eleventh,
      to
      the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC
      2
      Regular Interest LT-M2 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%,
      respectively, until the Uncertificated Principal Balance of REMIC 2 Regular
      Interest LT-M2 has been reduced to zero; and twelfth, to the Uncertificated
      Principal Balances of REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest
      LT-M1 and REMIC 2 Regular Interest LT-ZZ, 98%, 1% and 1%, respectively, until
      the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-M1 has
      been
      reduced to zero.

     

    (c) The
      REMIC
      2 Suborbinate Allocation Percentage of all Realized Losses shall be applied
      after all distributions have been made on each Distribution Date first, so
      as to
      keep the Uncertificated Principal Balance of each REMIC 2 Regular Interest
      ending with the designation “GRP” equal to 0.01% of the aggregate Stated
      Principal Balance of the Mortgage Loans in the related Loan Group; second,
      to
      each REMIC 2 Regular Interest ending with the designation “SUB,” so that the
      Uncertificated Principal Balance of each such REMIC 2 Regular Interest is equal
      to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the
      Mortgage Loans in the related Loan Group over (y) the current Certificate
      Principal Balance of the Class A Certificate in the related Loan Group (except
      that if any such excess is a larger number than in the preceding distribution
      period, the least amount of Realized Losses shall be applied to such REMIC
      2
      Regular Interests such that the REMIC 2 Subordinated Balance Ratio is
      maintained); and third, any remaining Realized Losses shall be allocated to
      REMIC 2 Regular Interest LT-XX.

     

    Section
      4.12 Tax
      Treatment of Swap Payments and Swap Termination Payments.

     

    For
      federal income tax purposes, each holder of a Class A or Subordinate Certificate
      is deemed to own an undivided beneficial ownership interest in a REMIC regular
      interest and the right to receive payments from either the Carryover Reserve
      Fund or the Swap Account in respect of Net Rate Carryover or the obligation
      to
      make payments to the Swap Account. For federal income tax purposes, the Trustee
      will account for payments to each Class A and Subordinate Certificates as
      follows: each Class A and Subordinate Certificate will be treated as receiving
      their entire payment from REMIC 3 (regardless of any Swap Termination Payment
      or
      obligation under the Swap Contract) and subsequently paying their portion of
      any
      Swap Termination Payment in respect of each such Class’ obligation under the
      Swap Contract. In the event that any such Class is resecuritized in a REMIC,
      the
      obligation under the Swap Contract to pay any such Swap Termination Payment
      (or
      any shortfall in Net Swap Payment payable to the Swap Counterparty), will be
      made by one or more of the REMIC Regular Interests issued by the
      resecuritization REMIC subsequent to such REMIC Regular Interest receiving
      its
      full payment from any such Class A or Subordinate Certificate. Resecuritization
      of any Class A or Subordinate Certificate in a REMIC will be permissible only
      if
      the Trustee hereunder is the trustee in such resecuritization.

     

    The
      REMIC
      regular interest corresponding to a Class A or Subordinate Certificate will
      be
      entitled to receive interest and principal payments at the times and in the
      amounts equal to those made on the certificate to which it corresponds, except
      that (i) the maximum interest rate of that REMIC regular interest will equal
      the
      Pass-Through Rate computed for this purpose by limiting the notional amount
      of
      the Swap Contract to the aggregate principal balance of the Mortgage Loans
      and
      (ii) any Swap Termination Payment will be treated as being payable solely from
      Excess Cashflow. As a result of the foregoing, the amount of distributions
      and
      taxable income on the REMIC regular interest corresponding to a Class A or
      Subordinate Certificate may exceed the actual amount of distributions on the
      Class A or Subordinate Certificate.

     

    

    ARTICLE
      V.

     

    THE
      CERTIFICATES

     

    Section
      5.01 The
      Certificates.

     

    The
      Certificates shall be substantially in the forms attached hereto as Exhibits
      A-1
      through A-14, Exhibit B, Exhibit C, Exhibit D and Exhibit E. The Certificates
      shall be issuable in registered form, in the minimum dollar denominations,
      integral dollar multiples in excess thereof and aggregate dollar denominations
      as set forth in the following table:

     

    
      	
              Class

            	
              Minimum
                Denomination

            	
              Integral
                Multiples in Excess of Minimum

            	
              Original
                Certificate Principal Balance

            
	
              1-A

            	
              $20,000

            	
              $1

            	
              $237,900,000.00

            
	
              2-A-1

            	
              $20,000

            	
              $1

            	
              $172,192,000.00

            
	
              2-A-2

            	
              $20,000

            	
              $1

            	
              $
                22,141,000.00

            
	
              2-A-3

            	
              $20,000

            	
              $1

            	
              $
                59,984,000.00

            
	
              2-A-4

            	
              $20,000

            	
              $1

            	
              $
                14,783,000.00

            
	
              M-1

            	
              $20,000

            	
              $1

            	
              $
                24,700,000.00

            
	
              M-2

            	
              $20,000

            	
              $1

            	
              $
                23,400,000.00

            
	
              M-3

            	
              $20,000

            	
              $1

            	
              $
                13,650,000.00

            
	
              M-4

            	
              $20,000

            	
              $1

            	
              $
                12,350,000.00

            
	
              M-5

            	
              $20,000

            	
              $1

            	
              $
                12,350,000.00

            
	
              M-6

            	
              $20,000

            	
              $1

            	
              $
                10,725,000.00

            
	
              M-7

            	
              $20,000

            	
              $1

            	
              $
                9,425,000.00

            
	
              M-8

            	
              $20,000

            	
              $1

            	
              $
                9,100,000.00

            
	
              M-9

            	
              $20,000

            	
              $1

            	
              $
                6,825,000.00

            
	
              B

            	
              $20,000

            	
              $1

            	
              $
                7,475,000.00

            
	
              A-R

            	
              $99.95(1)

            	
              N/A

            	
              $100.00

            
	
              C

            	
              N/A

            	
              N/A

            	
              $13,000,341.73

            
	
              P

            	
              N/A

            	
              N/A

            	
              $100.00

            

    

    
      	
              (1)

            	
              The
                Tax Matters Person Certificate may be issued in a denomination of
                $0.05.

            

    

     

    The
      Certificates shall be executed by manual or facsimile signature on behalf of
      the
      Trustee by an authorized 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 bind the Trustee,
      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 authentication and delivery. No
      Certificate shall be entitled to any benefit under this Agreement, or be valid
      for any purpose, unless there appears on such Certificate a certificate of
      authentication substantially in the form set forth as attached hereto executed
      by the Trustee by manual signature, and such certificate of 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. On the Closing
      Date, the Trustee shall authenticate the Certificates to be issued at the
      written direction of the Depositor, or any affiliate thereof.

     

    The
      Depositor shall provide, or cause to be provided, to the Trustee on a continuous
      basis, an adequate inventory of Certificates to facilitate
      transfers.

     

    Section
      5.02 Certificate
      Register; Registration of Transfer and Exchange of Certificates.

     

    (a) The
      Trustee shall maintain a Certificate Register for the Trust Fund in which,
      subject to the provisions of subsections (b) and (c) below and to such
      reasonable regulations as it may prescribe, the Trustee shall provide for the
      registration of Certificates and of Transfers and exchanges of Certificates
      as
      herein provided. Upon surrender for registration of Transfer of any Certificate,
      the Trustee shall authenticate and deliver, in the name of the designated
      transferee or transferees, one or more new Certificates of the same Class and
      of
      like aggregate Percentage Interest.

     

    At
      the
      option of a Certificateholder, Certificates may be exchanged for other
      Certificates of the same Class in authorized denominations and evidencing the
      same aggregate Percentage Interest upon surrender of the Certificates to be
      exchanged at the office or agency of the Trustee. Whenever any Certificates
      are
      so surrendered for exchange, the Trustee shall execute, authenticate, and
      deliver the Certificates that the Certificateholder making the exchange is
      entitled to receive. Every Certificate presented or surrendered for registration
      of Transfer or exchange shall be accompanied by a written instrument of Transfer
      in form satisfactory to the Trustee duly executed by the Holder thereof or
      his
      attorney duly authorized in writing.

     

    No
      service charge to the Certificateholders shall be made for any registration
      of
      Transfer or exchange of Certificates, but 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 may be required.

     

    All
      Certificates surrendered for registration of Transfer or exchange shall be
      canceled and subsequently destroyed by the Trustee in accordance with the
      Trustee’s customary procedures.

     

    (b) No
      Transfer of a Private Certificate shall be made unless such Transfer is made
      pursuant to an effective registration statement under the Securities Act and
      any
      applicable state securities laws or is exempt from the registration requirements
      under the Securities Act and such state securities laws. In the event that
      a
      transfer is to be made in reliance upon an exemption from the Securities Act
      and
      such state securities laws, in order to assure compliance with the Securities
      Act and such state securities laws, the Certificateholder desiring to effect
      such Transfer and such Certificateholder’s prospective transferee shall (except
      in connection with any transfer of a Private Certificate to an affiliate of
      the
      Depositor (either directly or through a nominee) in connection with the initial
      issuance of the Certificates) each certify to the Trustee in writing the facts
      surrounding the Transfer in substantially the forms set forth in Exhibit J-2
      and, in the case of a Class A-R Certificate, Exhibit J-1 (the “Transferor
      Certificate”) and (i) deliver a letter in substantially the form of either
      Exhibit K (in the case of the Class P and Class C Certificates only) (the
“Investment Letter”) or Exhibit L (in the case of any Private Certificate) (the
“Rule 144A Letter”) or (ii) there shall be delivered to the Trustee at the
      expense of the Certificateholder desiring to effect such transfer an Opinion
      of
      Counsel that such Transfer may be made pursuant to an exemption from the
      Securities Act; provided,
      however,
      that in
      the case of the delivery of an Investment Letter in connection with the transfer
      of any Class C or Class P Certificate to a transferee that is formed with the
      purpose of issuing notes backed by such Class C or Class P Certificate, as
      the
      case may be, clause (b) and (c) of the form of Investment Letter shall not
      be
      applicable and shall be deleted by such transferee. The Depositor shall provide
      to any Holder of a Private Certificate and any prospective transferee designated
      by any such Holder, information regarding the related Certificates and the
      Mortgage Loans and such other information as shall be necessary to satisfy
      the
      condition to eligibility set forth in Rule 144A(d)(4) for transfer of any such
      Certificate without registration thereof under the Securities Act pursuant
      to
      the registration exemption provided by Rule 144A. The Trustee and the Master
      Servicer shall cooperate with the Depositor in providing the Rule 144A
      information referenced in the preceding sentence, including providing to the
      Depositor such information regarding the Certificates, the Mortgage Loans and
      other matters regarding the Trust Fund as the Depositor shall reasonably request
      to meet its obligation under the preceding sentence. Each Holder of a Private
      Certificate desiring to effect such Transfer shall, and does hereby agree to,
      indemnify the Trustee, the Depositor, the Trust Fund, each Seller, the Master
      Servicer and the NIM Insurer 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 (other than a transfer of an
      ERISA-Restricted Certificate to an affiliate of the Depositor (either directly
      or through a nominee) in connection with the initial issuance of the
      Certificates) shall be made unless the Trustee shall have received either (i)
      a
      representation from the transferee of such Certificate acceptable to and in
      form
      and substance satisfactory to the Trustee (in the event such Certificate is
      a
      Private Certificate, such requirement is satisfied only by the Trustee’s receipt
      of a representation letter from the transferee substantially in the form of
      Exhibit K or Exhibit L, or in the event such Certificate is a Residual
      Certificate, such requirement is satisfied only by the Trustee’s receipt of a
      representation letter from the transferee substantially in the form of Exhibit
      I), to the effect that (x) such transferee is not a Plan, or (y) in the case
      of
      an ERISA-Restricted Certificate (except for a Residual Certificate) that has
      been the subject of an ERISA-Qualifying Underwriting, a representation that
      the
      transferee 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 satisfy the
      requirements for exemptive relief under Sections I and III of PTCE 95-60 or
      (ii)
      in the case of any ERISA-Restricted Certificate presented for registration
      in
      the name of an employee benefit plan or arrangement subject to ERISA, or a
      plan
      or arrangement subject to Section 4975 of the Code (or comparable provisions
      of
      any subsequent enactments), or a trustee of any such plan or arrangement or
      any
      other person acting on behalf of any such plan or arrangement, an Opinion of
      Counsel satisfactory to the Trustee, addressed to the Trustee and the Master
      Servicer, to the effect that the purchase or holding of such ERISA-Restricted
      Certificate will not result in a non-exempt prohibited transaction under ERISA
      or the Code and will not subject the Trustee or the Master Servicer to any
      obligation in addition to those expressly undertaken in this Agreement, which
      Opinion of Counsel shall not be an expense of the Trustee, the Master Servicer,
      or the Trust Fund. For purposes of the preceding sentence, one of such
      representations, as appropriate, shall be deemed to have been made to the
      Trustee by the transferee’s acceptance of an ERISA-Restricted Certificate (or
      the acceptance by a Certificate Owner of the beneficial interest in any such
      Class of ERISA-Restricted Certificates) unless the Trustee shall have received
      from the transferee an Opinion of Counsel as described in clause (ii) or a
      representation letter acceptable in form and substance to the Trustee.
      Notwithstanding anything else to the contrary herein, any purported transfer
      of
      an ERISA Restricted Certificate to or on behalf of an employee benefit plan
      subject to Section 406 of ERISA or a plan or arrangement subject to Section
      4975
      of the Code without the delivery to the Trustee of an Opinion of Counsel
      satisfactory to the Trustee meeting the requirements of clause (ii) of the
      first
      sentence of this paragraph as described above shall be void and of no effect.
      The Trustee shall be under no liability to any Person for any registration
      of
      transfer of any ERISA-Restricted Certificate that is in fact not permitted
      by
      this Section 5.02(b) 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 Trustee, with respect to the
      transfer of such Classes of Certificates, required delivery of such certificates
      and other documentation or evidence as are expressly required by the terms
      of
      this Agreement and examined such certificates and other documentation or
      evidence to determine compliance as to form with the express requirements
      hereof. The Trustee shall be entitled, but not obligated, to recover from any
      Holder of any ERISA-Restricted Certificate that was in fact an employee benefit
      plan subject to Section 406 of 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
      at
      the time it became a Holder or, at such subsequent time as it became such a
      plan
      or arrangement or Person acting on behalf of such a plan or arrangement, all
      payments made on such ERISA-Restricted Certificate at and after either such
      time. Any such payments so recovered by the Trustee shall be paid and delivered
      by the Trustee to the last preceding Holder of such Certificate that is not
      such
      a plan or arrangement or Person acting on behalf of a plan or
      arrangement.

     

    For
      so
      long as the Swap Trust is in existence, each beneficial owner of an
      Interest-Bearing Certificate or any interest therein, shall be deemed to have
      represented, by virtue of its acquisition or holding of such Certificate, or
      interest therein, that either (i) it is not a Plan or (ii) (A) it is an
      accredited investor within the meaning of the Underwriter’s Exemption and (B)
      the acquisition and holding of such Certificate and the separate right to
      receive payments from the Swap Trust are eligible for the exemptive relief
      available under one of Prohibited Transaction Class Exemption (“PTCE”) 84-14,
      91-38, 90-1, 95-60 or 96-23.

     

    Each
      beneficial owner of a Subordinate Certificate or any interest therein that
      is
      acquired after the termination of the Swap Trust (which holds the Swap Contract)
      shall be deemed to have represented, by virtue of its acquisition or holding
      of
      that Certificate or interest therein, that either (i) it is not a Plan or a
      person using assets of a Plan, (ii) except in the case of a Class B Certificate,
      it has acquired and is holding such Subordinate Certificate in reliance on
      the
      Underwriter’s Exemption, and that it understands that there are certain
      conditions to the availability of the Underwriter’s Exemption, including that
      the Certificate must be rated, at the time of purchase, not lower than “BBB-”
(or its equivalent) by Standard & Poor’s, Fitch Ratings or Moody’s or (iii)
      (1) it is an insurance company, (2) the source of funds used to acquire or
      hold
      the Certificate or interest therein is an “insurance company general account”,
      as such term is defined in PTCE 95-60, and (3) the conditions in Sections I
      and
      III of PTCE 95-60 have been satisfied.

     

    In
      the
      event that a representation or deemed representation in the three preceding
      paragraphs is violated, the related transfer or acquisition shall be void and
      of
      no effect.

     

    (c) Each
      Person who has or who acquires any Ownership Interest in a Class A-R Certificate
      shall be deemed by the acceptance or acquisition of such Ownership Interest
      to
      have agreed to be bound by the following provisions, and the rights of each
      Person acquiring any Ownership Interest in a Class A-R Certificate are expressly
      subject to the following provisions:

     

    (1) Each
      Person holding or acquiring any Ownership Interest in a Class A-R Certificate
      shall be a Permitted Transferee and shall promptly notify the Trustee of any
      change or impending change in its status as a Permitted Transferee.

     

    (2) Except
      in
      connection with (i) the registration of the Tax Matters Person Certificate
      in
      the name of the Trustee or (ii) any registration in the name of, or transfer
      of
      a Class A-R Certificate to, an affiliate of the Depositor (either directly
      or
      through a nominee) in connection with the initial issuance of the Certificates,
      no Ownership Interest in a Class A-R Certificate may be registered or
      transferred, and the Trustee shall not register the Transfer of any Class A-R
      Certificate, unless the Trustee shall have been furnished with an affidavit
      (a
“Transfer Affidavit”) of the initial owner or the proposed transferee in the
      form attached hereto as Exhibit I.

     

    (3) Each
      Person holding or acquiring any Ownership Interest in a Class A-R Certificate
      shall agree (A) to obtain a Transfer Affidavit from any other Person to whom
      such Person attempts to Transfer its Ownership Interest in a Class A-R
      Certificate, (B) to obtain a Transfer Affidavit from any Person for whom such
      Person is acting as nominee, trustee or agent in connection with any Transfer
      of
      a Class A-R Certificate and (C) not to Transfer its Ownership Interest in a
      Class A-R Certificate, or to cause the Transfer of an Ownership Interest in
      a
      Class A-R Certificate to any other Person, if it has actual knowledge that
      such
      Person is not a Permitted Transferee or that such Transfer Affidavit is
      false.

     

    (4) Any
      attempted or purported Transfer of any Ownership Interest in a Class A-R
      Certificate in violation of the provisions of this Section 5.02(c) shall be
      absolutely null and void and shall vest no rights in the purported Transferee.
      If any purported transferee shall become a Holder of a Class A-R Certificate
      in
      violation of the provisions of this Section 5.02(c), then the last preceding
      Permitted Transferee shall be restored to all rights as Holder thereof
      retroactive to the date of registration of Transfer of such Class A-R
      Certificate. The Trustee shall be under no liability to any Person for any
      registration of Transfer of a Class A-R Certificate that is in fact not
      permitted by Section 5.02(b) and this Section 5.02(c) 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 after receipt of the related Transfer Affidavit and
      Transferor Certificate. The Trustee shall be entitled but not obligated to
      recover from any Holder of a Class A-R Certificate that was in fact not a
      Permitted Transferee at the time it became a Holder or, at such subsequent
      time
      as it became other than a Permitted Transferee, all payments made on such Class
      A-R Certificate at and after either such time. Any such payments so recovered
      by
      the Trustee shall be paid and delivered by the Trustee to the last preceding
      Permitted Transferee of such Certificate.

     

    (5) The
      Master Servicer shall use its best efforts to make available, upon receipt
      of
      written request from the Trustee, all information necessary to compute any
      tax
      imposed under section 860E(e) of the Code as a result of a Transfer of an
      Ownership Interest in a Class A-R Certificate to any Holder who is not a
      Permitted Transferee.

     

    The
      restrictions on Transfers of a Class A-R Certificate set forth in this Section
      5.02(c) shall cease to apply (and the applicable portions of the legend on
      a
      Class A-R Certificate may be deleted) with respect to Transfers occurring after
      delivery to the Trustee of an Opinion of Counsel, which Opinion of Counsel
      shall
      not be an expense of the Trustee, any Seller or the Master Servicer, to the
      effect that the elimination of such restrictions will not cause any REMIC formed
      hereunder to fail to qualify as a REMIC at any time that the Certificates are
      outstanding or result in the imposition of any tax on the Trust Fund, a
      Certificateholder or another Person. Each Person holding or acquiring any
      Ownership Interest in a Class A-R Certificate, by acceptance of its Ownership
      Interest, shall be deemed to consent to any amendment of this Agreement that,
      based on an Opinion of Counsel furnished to the Trustee, is reasonably necessary
      (a) to ensure that the record ownership of, or any beneficial interest in,
      a
      Class A-R Certificate is not transferred, directly or indirectly, to a Person
      that is not a Permitted Transferee and (b) to provide for a means to compel
      the
      Transfer of a Class A-R Certificate that is held by a Person that is not a
      Permitted Transferee to a Holder that is a Permitted Transferee.

     

    (d) The
      preparation and delivery of all affidavits, certifications and opinions referred
      to above in this Section 5.02 shall not be an expense of the Trust Fund, the
      Trustee, the Depositor, any Seller or the Master Servicer. 

     

    Section
      5.03 Mutilated,
      Destroyed, Lost or Stolen Certificates.

     

    If
      (a)
      any mutilated Certificate is surrendered to the Trustee, or the Trustee receives
      evidence to its satisfaction of the destruction, loss or theft of any
      Certificate and of the ownership thereof and (b) there is delivered to the
      Master Servicer and the Trustee 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 that such Certificate has been acquired by a bona fide purchaser, the
      Trustee shall execute, authenticate and deliver, in exchange for or in lieu
      of
      any such mutilated, destroyed, lost or stolen Certificate, a new Certificate
      of
      like Class, tenor and Percentage Interest. In connection with the issuance
      of
      any new Certificate under this Section 5.03, the Trustee 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 Trustee) connected therewith. Any replacement Certificate issued
      pursuant to this Section 5.03 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. All
      Certificates surrendered to the Trustee under the terms of this Section 5.03
      shall be canceled and destroyed by the Trustee in accordance with its standard
      procedures without liability on its part.

     

    Section
      5.04 Persons
      Deemed Owners.

     

    The
      Master Servicer, the Trustee, the NIM Insurer and any agent of the Master
      Servicer, the Trustee or the NIM Insurer may treat the person in whose name
      any
      Certificate is registered as the owner of such Certificate for the purpose
      of
      receiving distributions as provided in this Agreement and for all other purposes
      whatsoever, and none of the Master Servicer, the Trustee, the NIM Insurer or
      any
      agent of the Master Servicer, the Trustee or the NIM Insurer shall be affected
      by any notice to the contrary.

     

    Section
      5.05 Access
      to List of Certificateholders’ Names and Addresses.

     

    If
      three
      or more Certificateholders or Certificate Owners (a) request such information
      in
      writing from the Trustee, (b) state that such Certificateholders or Certificate
      Owners desire to communicate with other Certificateholders or Certificate Owners
      with respect to their rights under this Agreement or under the Certificates
      and
      (c) provide a copy of the communication that such Certificateholders or
      Certificate Owners propose to transmit or if the Depositor or Master Servicer
      shall request such information in writing from the Trustee, then the Trustee
      shall, within ten Business Days after the receipt of such request, provide
      the
      Depositor, the Master Servicer or such Certificateholders or Certificate Owners
      at such recipients’ expense the most recent list of the Certificateholders of
      the Trust Fund held by the Trustee, if any. The Depositor and every
      Certificateholder or Certificate Owner, by receiving and holding a Certificate,
      agree that the Trustee shall not be held accountable by reason of the disclosure
      of any such information as to the list of the Certificateholders hereunder,
      regardless of the source from which such information was derived.

     

    Section
      5.06 Book-Entry
      Certificates.

     

    The
      Book-Entry Certificates, upon original issuance, shall be issued in the form
      of
      one typewritten Certificate (or more than one, if required by the Depository)
      for each Class of such Certificates, to be delivered to the Depository by or
      on
      behalf of the Depositor. Such Certificates shall initially be registered on
      the
      Certificate Register in the name of the Depository or its nominee, and no
      Certificate Owner of such Certificates will receive a definitive certificate
      representing such Certificate Owner’s interest in such Certificates, except as
      provided in Section 5.08. Unless and until definitive, fully registered
      Certificates (“Definitive Certificates”) have been issued to the Certificate
      Owners of such Certificates pursuant to Section 5.08:

     

    (a) the
      provisions of this Section shall be in full force and effect;

     

    (b) the
      Depositor, the Sellers, the Master Servicer and the Trustee may deal with the
      Depository and the Depository Participants for all purposes (including the
      making of distributions) as the authorized representative of the respective
      Certificate Owners of such Certificates;

     

    (c) registration
      of the Book-Entry Certificates may not be transferred by the Trustee except
      to
      another Depository;

     

    (d) the
      rights of the respective Certificate Owners of such Certificates shall be
      exercised only through the Depository and the Depository Participants and shall
      be limited to those established by law and agreements between the Owners of
      such
      Certificates and the Depository and/or the Depository Participants. Pursuant
      to
      the Depository Agreement, unless and until Definitive Certificates are issued
      pursuant to Section 5.08, the Depository will make book-entry transfers among
      the Depository Participants and receive and transmit distributions of principal
      and interest on the related Certificates to such Depository
      Participants;

     

    (e) the
      Depository may collect its usual and customary fees, charges and expenses from
      its Depository Participants;

     

    (f) the
      Trustee may rely and shall be fully protected in relying upon information
      furnished by the Depository with respect to its Depository Participants;
      and

     

    (g) to
      the
      extent the provisions of this Section conflict with any other provisions of
      this
      Agreement, the provisions of this Section shall control.

     

    For
      purposes of any provision of this Agreement requiring or permitting actions
      with
      the consent of, or at the direction of, Certificateholders evidencing a
      specified percentage of the aggregate unpaid principal amount of any Class
      of
      Certificates, such direction or consent may be given by Certificate Owners
      (acting through the Depository and the Depository Participants) owning
      Book-Entry Certificates evidencing the requisite percentage of principal amount
      of such Class of Certificates.

     

    Section
      5.07 Notices
      to Depository.

     

    Whenever
      any notice or other communication is required to be given to Certificateholders
      of the Class with respect to which Book-Entry Certificates have been issued,
      unless and until Definitive Certificates shall have been issued to the related
      Certificate Owners, the Trustee shall give all such notices and communications
      to the Depository.

     

    Section
      5.08 Definitive
      Certificates.

     

    If,
      after
      Book-Entry Certificates have been issued with respect to any Certificates,
      (a)
      the Depositor advises the Trustee that the Depository is no longer willing
      or
      able to discharge properly its responsibilities under the Depository Agreement
      with respect to such Certificates and the Trustee or the Depositor is unable
      to
      locate a qualified successor or (b) after the occurrence and continuation of
      an
      Event of Default, Certificate Owners of such Book-Entry Certificates having
      not
      less than 51% of the Voting Rights evidenced by any Class of Book-Entry
      Certificates advise the Trustee and the Depository in writing through the
      Depository Participants that the continuation of a book-entry system with
      respect to Certificates of such Class through the Depository (or its successor)
      is no longer in the best interests of the Certificate Owners of such Class,
      then
      the Trustee shall notify all Certificate Owners of such Certificates, through
      the Depository, of the occurrence of any such event and of the availability
      of
      Definitive Certificates to Certificate Owners of such Class requesting the
      same.
      The Depositor shall provide the Trustee with an adequate inventory of
      Certificates to facilitate the issuance and transfer of Definitive Certificates.
      Upon surrender to the Trustee of any such Certificates by the Depository,
      accompanied by registration instructions from the Depository for registration,
      the Trustee shall authenticate and deliver such Definitive Certificates. Neither
      the Depositor nor the Trustee shall be liable for any delay in delivery of
      such
      instructions and each may conclusively rely on, and shall be protected in
      relying on, such instructions. Upon the issuance of such Definitive
      Certificates, all references herein to obligations imposed upon or to be
      performed by the Depository shall be deemed to be imposed upon and performed
      by
      the Trustee, to the extent applicable with respect to such Definitive
      Certificates and the Trustee shall recognize the Holders of such Definitive
      Certificates as Certificateholders hereunder.

     

    Section
      5.09 Maintenance
      of Office or Agency.

     

    The
      Trustee will maintain or cause to be maintained at its expense an office or
      offices or agency or agencies in New York City where Certificates may be
      surrendered for registration of transfer or exchange. The Trustee initially
      designates its offices at 101 Barclay Street, New York, New York 10286,
      Attention: Corporate Trust MBS Administration, as offices for such purposes.
      The
      Trustee will give prompt written notice to the Certificateholders of any change
      in such location of any such office or agency.

     

    ARTICLE
      VI.

     

    THE
      DEPOSITOR, THE MASTER SERVICER AND THE SELLERS

     

    Section
      6.01 Respective
      Liabilities of the Depositor, the Master Servicer and the
      Sellers.

     

    The
      Depositor, the Master Servicer and each Seller shall each be liable in
      accordance herewith only to the extent of the obligations specifically and
      respectively imposed upon and undertaken by them herein.

     

    Section
      6.02 Merger
      or Consolidation of the Depositor, the Master Servicer or the
      Sellers.

     

    The
      Depositor will keep in full effect its existence, rights and franchises as
      a
      corporation under the laws of the United States or under the laws of one of
      the
      states thereof and will each obtain and preserve its qualification to do
      business as a foreign corporation in each jurisdiction in which such
      qualification is or shall be necessary to protect the validity and
      enforceability of this Agreement, or any of the Mortgage Loans and to perform
      its duties under this Agreement. The Master Servicer will keep in effect its
      existence, rights and franchises as a limited partnership under the laws of
      the
      United States or under the laws of one of the states thereof and will obtain
      and
      preserve its qualification or registration to do business as a foreign
      partnership in each jurisdiction in which such qualification or registration
      is
      or shall be necessary to protect the validity and enforceability of this
      Agreement or any of the Mortgage Loans and to perform its duties under this
      Agreement.

     

    Any
      Person into which the Depositor, the Master Servicer or any Seller may be merged
      or consolidated, or any Person resulting from any merger or consolidation to
      which the Depositor, the Master Servicer or any Seller shall be a party, or
      any
      person succeeding to the business of the Depositor, the Master Servicer or
      any
      Seller, shall be the successor of the Depositor, the Master Servicer or such
      Seller, as the case may be, hereunder, 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; provided that the successor or surviving
      Person to the Master Servicer shall be qualified to service mortgage loans
      on
      behalf of Fannie Mae and Freddie Mac.

     

    As
      a
      condition to the effectiveness of any merger or consolidation, at least 15
      calendar days prior to the effective date of any merger or consolidation of
      the
      Master Servicer, the Master Servicer shall provide (x) written notice to the
      Depositor of any successor pursuant to this Section and (y) in writing and
      in
      form and substance reasonably satisfactory to the Depositor, all information
      reasonably requested by the Depositor in order to comply with its reporting
      obligation under Item 6.02 of Form 8-K with respect to a replacement Master
      Servicer.

     

    Section
      6.03 Limitation
      on Liability of the Depositor, the Sellers, the Master Servicer, the NIM Insurer
      and Others.

     

    None
      of
      the Depositor, the Sellers, the NIM Insurer or the Master Servicer or any of
      the
      directors, officers, employees or agents of the Depositor, the Sellers, the
      NIM
      Insurer or the Master Servicer shall be under any liability to the Trustee
      (except as provided in Section 8.05), the Trust Fund or the Certificateholders
      for any action taken or for refraining from the taking of any action in good
      faith pursuant to this Agreement, or for errors in judgment; provided that
      this
      provision shall not protect the Depositor, the Sellers, the Master Servicer
      or
      any such Person against any breach of representations or warranties made by
      it
      herein or protect the Depositor, the Sellers, the Master Servicer or any such
      Person from any liability that would otherwise be imposed by reasons of willful
      misfeasance, bad faith or gross negligence in the performance of duties or
      by
      reason of reckless disregard of obligations and duties hereunder. The Depositor,
      the Sellers, the NIM Insurer, the Master Servicer and any director, officer,
      employee or agent of the Depositor, the Sellers, the NIM Insurer or the Master
      Servicer may rely in good faith on any document of any kind prima facie properly
      executed and submitted by any Person respecting any matters arising hereunder.
      The Depositor, the Sellers, the NIM Insurer, the Master Servicer and any
      director, officer, employee or agent of the Depositor, the Sellers, the NIM
      Insurer or the Master Servicer shall be indemnified by the Trust Fund and held
      harmless against any loss, liability or expense incurred in connection with
      any
      audit, controversy or judicial proceeding relating to a governmental taxing
      authority or any legal action relating to this Agreement or the Certificates,
      other than any loss, liability or expense related to any specific Mortgage
      Loan
      or Mortgage Loans (except as any such loss, liability or expense shall be
      otherwise reimbursable pursuant to this Agreement) and any loss, liability
      or
      expense incurred by reason of willful misfeasance, bad faith or gross negligence
      in the performance of duties hereunder or by reason of reckless disregard of
      obligations and duties hereunder. None of the Depositor, the Sellers, the NIM
      Insurer or the Master Servicer shall be under any obligation to appear in,
      prosecute or defend any legal action that is not incidental to its respective
      duties hereunder and that in its opinion may involve it in any expense or
      liability; provided that any of the Depositor, the Sellers, the NIM Insurer
      or
      the Master Servicer may, in its discretion undertake any such action that it
      may
      deem necessary or desirable in respect of this Agreement and the rights and
      duties of the parties hereto and interests of the Trustee and the
      Certificateholders hereunder. In such event, the legal expenses and costs of
      such action and any liability resulting therefrom shall be, expenses, costs
      and
      liabilities of the Trust Fund, and the Depositor, the Sellers, the NIM Insurer
      and the Master Servicer shall be entitled to be reimbursed therefor out of
      the
      Certificate Account as provided by Section 3.08 hereof.

     

    Section
      6.04 Limitation
      on Resignation of Master Servicer.

     

    The
      Master Servicer shall not resign from the obligations and duties hereby imposed
      on it except (i) upon determination that its duties hereunder are no longer
      permissible under applicable law or (ii) upon appointment of a successor
      servicer that is reasonably acceptable to the Trustee and the NIM Insurer and
      the written confirmation from each Rating Agency (which confirmation shall
      be
      furnished to the Depositor, the Trustee and the NIM Insurer) that such
      resignation will not cause such Rating Agency to reduce the then-current rating
      of the Certificates. Any such determination pursuant to clause (i) of the
      preceding sentence permitting the resignation of the Master Servicer shall
      be
      evidenced by an Opinion of Counsel to such effect delivered to the Trustee.
      No
      resignation of the Master Servicer shall become effective until the Trustee
      shall have assumed the Master Servicer’s responsibilities, duties, liabilities
      (other than those liabilities arising prior to the appointment of such
      successor) and obligations under this Agreement and the Depositor shall have
      received the information described in the following sentence. As a condition
      to
      the effectiveness of any such resignation, at least 15 calendar days prior
      to
      the effective date of such resignation, the Master Servicer shall provide (x)
      written notice to the Depositor of any successor pursuant to this Section and
      (y) in writing and in form and substance reasonably satisfactory to the
      Depositor, all information reasonably requested by the Depositor in order to
      comply with its reporting obligation under Item 6.02 of Form 8-K with respect
      to
      the resignation of the Master Servicer. 

     

    Section
      6.05 Errors
      and Omissions Insurance; Fidelity Bonds.

     

    The
      Master Servicer shall, for so long as it acts as servicer under this Agreement,
      obtain and maintain in force (a) a policy or policies of insurance covering
      errors and omissions in the performance of its obligations as servicer
      hereunder, and (b) a fidelity bond in respect of its officers, employees and
      agents. Each such policy or policies and bond shall, together, comply with
      the
      requirements from time to time of Fannie Mae and Freddie Mac for persons
      performing servicing for mortgage loans purchased by Fannie Mae and Freddie
      Mac.
      In the event that any such policy or bond ceases to be in effect, the Master
      Servicer shall use its reasonable best efforts to obtain a comparable
      replacement policy or bond from an insurer or issuer, meeting the requirements
      set forth above as of the date of such replacement.

     

    The
      Master Servicer shall provide the Trustee and the NIM Insurer (upon such party’s
      reasonable request) with copies of any such insurance policies and fidelity
      bond. The Master Servicer shall be deemed to have complied with this provision
      if an Affiliate of the Master Servicer has such errors and omissions and
      fidelity bond coverage and, by the terms of such insurance policy or fidelity
      bond, the coverage afforded thereunder extends to the Master
      Servicer.

     

    ARTICLE
      VII.

     

    DEFAULT;
      TERMINATION OF MASTER SERVICER

     

    Section
      7.01 Events
      of Default.

     

    “Event
      of
      Default,” wherever used herein, means any one of the following
      events:

     

    (1) any
      failure by the Master Servicer to deposit in the Certificate Account or the
      Distribution Account or remit to the Trustee any payment (excluding a payment
      required to be made under Section 4.01 hereof) required to be made under the
      terms of this Agreement, which failure shall continue unremedied for five
      calendar days and, with respect to a payment required to be made under Section
      4.01(b) or (c) hereof, for one Business Day, after the date on which written
      notice of such failure shall have been given to the Master Servicer by the
      Trustee, the NIM Insurer or the Depositor, or to the Trustee, the NIM Insurer
      and the Master Servicer by the Holders of Certificates evidencing not less
      than
      25% of the Voting Rights; or

     

    (2) any
      failure by the Master Servicer to observe or perform in any material respect
      any
      other of the covenants or agreements on the part of the Master Servicer
      contained in this Agreement (except with respect to a failure related to a
      Limited Exchange Act Reporting Obligation) or any representation or warranty
      shall prove to be untrue, which failure or breach shall continue unremedied
      for
      a period of 60 days after the date on which written notice of such failure
      shall
      have been given to the Master Servicer by the Trustee, the NIM Insurer or the
      Depositor, or to the Trustee by the Holders of Certificates evidencing not
      less
      than 25% of the Voting Rights; provided, that the sixty-day cure period shall
      not apply to the initial delivery of the Mortgage File for Delay Delivery
      Mortgage Loans or the failure to repurchase or substitute in lieu thereof;
      or

     

    (3) a
      decree
      or order of a court or agency or supervisory authority having jurisdiction
      in
      the premises for the appointment of a receiver or liquidator in any insolvency,
      readjustment of debt, marshalling of assets and liabilities or similar
      proceedings, or for the winding-up or liquidation of its affairs, shall have
      been entered against the Master Servicer and such decree or order shall have
      remained in force undischarged or unstayed for a period of 60 consecutive days;
      or

     

    (4) the
      Master Servicer shall consent to the appointment of a receiver or liquidator
      in
      any insolvency, readjustment of debt, marshalling of assets and liabilities
      or
      similar proceedings of or relating to the Master Servicer or all or
      substantially all of the property of the Master Servicer; or

     

    (5) the
      Master Servicer shall admit in writing its inability to pay its debts generally
      as they become due, file a petition to take advantage of, or commence a
      voluntary case under, any applicable insolvency or reorganization statute,
      make
      an assignment for the benefit of its creditors, or voluntarily suspend payment
      of its obligations; or

     

    (6) the
      Master Servicer shall fail to reimburse in full the Trustee not later than
      6:00
      p.m. (New York time) on the Business Day following the related Distribution
      Date
      for any Advance made by the Trustee pursuant to Section 4.01(d) together with
      accrued and unpaid interest.

     

    If
      an
      Event of Default shall occur, then, and in each and every such case, so long
      as
      such Event of Default shall not have been remedied, the Trustee shall, but
      only
      at the direction of either the NIM Insurer or the Holders of Certificates
      evidencing not less than 25% of the Voting Rights, by notice in writing to
      the
      Master Servicer (with a copy to each Rating Agency and the Depositor), terminate
      all of the rights and obligations of the Master Servicer under this Agreement
      and in and to the Mortgage Loans and the proceeds thereof, other than its rights
      as a Certificateholder hereunder. In addition, if during the period that the
      Depositor is required to file Exchange Act Reports with respect to the Trust
      Fund, the Master Servicer shall fail to observe or perform any of the
      obligations that constitute a Limited Exchange Act Reporting Obligation or
      the
      obligations set forth in Section 3.17(a) or Section 11.07(a)(1) and (2), and
      such failure continues for the lesser of 10 calendar days or such period in
      which the applicable Exchange Act Report can be filed timely (without taking
      into account any extensions), so long as such failure shall not have been
      remedied, the Trustee shall, but only at the direction of the Depositor,
      terminate all of the rights and obligations of the Master Servicer under this
      Agreement and in and to the Mortgage Loans and the proceeds thereof, other
      than
      its rights as a Certificateholder hereunder. The Depositor shall not be entitled
      to terminate the rights and obligations of the Master Servicer if a failure
      of
      the Master Servicer to identify a Subcontractor “participating in the servicing
      function” within the meaning of Item 1122 of Regulation AB was attributable
      solely to the role or functions of such Subcontractor with respect to mortgage
      loans other than the Mortgage Loans.

     

    On
      or
      after the receipt by the Master Servicer of such written notice, all authority
      and power of the Master Servicer hereunder, whether with respect to the Mortgage
      Loans or otherwise, shall pass to and be vested in the Trustee. The Trustee
      shall thereupon make any Advance described in Section 4.01 hereof subject to
      Section 3.04 hereof. The Trustee is hereby authorized and empowered to execute
      and deliver, on behalf of the Master 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 or assignment
      of
      the Mortgage Loans and related documents, or otherwise. Unless expressly
      provided in such written notice, no such termination shall affect any obligation
      of the Master Servicer to pay amounts owed pursuant to Article VIII. The Master
      Servicer agrees to cooperate with the Trustee in effecting the termination
      of
      the Master Servicer’s responsibilities and rights hereunder, including, without
      limitation, the transfer to the Trustee of all cash amounts which shall at
      the
      time be credited to the Certificate Account, or thereafter be received with
      respect to the Mortgage Loans. The Trustee shall promptly notify the Rating
      Agencies and the Depositor of the occurrence of an Event of
      Default.

     

    Notwithstanding
      any termination of the activities of a Master Servicer hereunder, such Master
      Servicer shall be entitled to receive, out of any late collection of a Scheduled
      Payment on a Mortgage Loan that was due prior to the notice terminating such
      Master Servicer’s rights and obligations as Master Servicer hereunder and
      received after such notice, that portion thereof to which such Master Servicer
      would have been entitled pursuant to Sections 3.08(a)(i) through (viii), and
      any
      other amounts payable to such Master Servicer hereunder the entitlement to
      which
      arose prior to the termination of its activities hereunder.

     

    If
      the
      Master Servicer is terminated, the Trustee shall provide the Depositor in
      writing and in form and substance reasonably satisfactory to the Depositor,
      all
      information reasonably requested by the Depositor in order to comply with its
      reporting obligation under Item 6.02 of Form 8-K with respect to a successor
      master servicer in the event the Trustee should succeed to the duties of the
      Master Servicer as set forth herein.

     

    Section
      7.02 Trustee
      to Act; Appointment of Successor.

     

    On
      and
      after the time the Master Servicer receives a notice of termination pursuant
      to
      Section 7.01 hereof, the Trustee shall, to the extent provided in Section 3.04,
      be the successor to the Master Servicer in its capacity as servicer under this
      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 Master Servicer by the terms and provisions hereof and applicable
      law including the obligation to make advances pursuant to Section 4.01. As
      compensation therefor, the Trustee shall be entitled to all fees, costs and
      expenses relating to the Mortgage Loans that the Master Servicer would have
      been
      entitled to if the Master Servicer had continued to act hereunder.
      Notwithstanding the foregoing, if the Trustee has become the successor to the
      Master Servicer in accordance with Section 7.01 hereof, the Trustee may, if
      it
      shall be unwilling to so act, or shall, if it is prohibited by applicable law
      from making Advances pursuant to Section 4.01 hereof or if it is otherwise
      unable to so act, (i) appoint any established mortgage loan servicing
      institution reasonably acceptable to the NIM Insurer (as evidenced by the prior
      written consent of the NIM Insurer), or (ii) if it is unable for 60 days to
      appoint a successor servicer reasonably acceptable to the NIM Insurer, petition
      a court of competent jurisdiction to appoint any established mortgage loan
      servicing institution, the appointment of which does not adversely affect the
      then-current rating of the Certificates and the NIM Insurer guaranteed notes
      (without giving any effect to any policy or guaranty provided by the NIM
      Insurer) by each Rating Agency as the successor to the Master Servicer hereunder
      in the assumption of all or any part of the responsibilities, duties or
      liabilities of the Master Servicer hereunder. Any successor Master Servicer
      shall be an institution that is a Fannie Mae and Freddie Mac approved
      seller/servicer in good standing, that has a net worth of at least $15,000,000
      and that is willing to service the Mortgage Loans and executes and delivers
      to
      the Depositor and the Trustee an agreement accepting such delegation and
      assignment, that contains an assumption by such Person of the rights, powers,
      duties, responsibilities, obligations and liabilities of the Master Servicer
      (other than liabilities and indemnities of the Master Servicer under Section
      6.03 hereof incurred prior to termination of the Master Servicer under Section
      7.01), with like effect as if originally named as a party to this Agreement;
      and
      provided further that each Rating Agency acknowledges that its rating of the
      Certificates in effect immediately prior to such assignment and delegation
      will
      not be qualified or reduced as a result of such assignment and delegation.
      No
      appointment of a successor to the Master Servicer hereunder shall be effective
      until (i) the Trustee shall have consented thereto, (ii) written notice of
      such
      proposed appointment shall have been provided by the Trustee to each
      Certificateholder and (iii) at least 15 calendar days prior to the effective
      date of such appointment, (x) the Trustee shall provide written notice to the
      Depositor of such successor pursuant to this Section 7.02 and (y) such successor
      Master Servicer shall provide to the Depositor in writing and in form and
      substance reasonably satisfactory to the Depositor, all information reasonably
      requested by the Depositor in order to comply with its reporting obligation
      under Item 6.02 of Form 8-K with respect to a replacement master servicer.
      The
      Trustee shall not resign as servicer until a successor servicer has been
      appointed and has accepted such appointment. Pending appointment of a successor
      to the Master Servicer hereunder, the Trustee, unless the Trustee is prohibited
      by law from so acting, shall, subject to Section 3.04 hereof, act in such
      capacity as herein above provided. In connection with such appointment and
      assumption, the Trustee may make such arrangements for the compensation of
      such
      successor out of payments on Mortgage Loans as it and such successor shall
      agree; provided that no such compensation shall be in excess of that permitted
      the Master Servicer hereunder. The Trustee and such successor shall take such
      action, consistent with this Agreement, as shall be necessary to effectuate
      any
      such succession. Neither the Trustee nor any other successor servicer shall
      be
      deemed to be in default hereunder by reason of any failure to make, or any
      delay
      in making, any distribution hereunder or any portion thereof or any failure
      to
      perform, or any delay in performing, any duties or responsibilities hereunder,
      in either case caused by the failure of the Master Servicer to deliver or
      provide, or any delay in delivering or providing, any cash, information,
      documents or records to it.

     

    Any
      successor to the Master Servicer as servicer shall give notice to the NIM
      Insurer and the Mortgagors of such change of servicer and shall, during the
      term
      of its service as servicer maintain in force the policy or policies that the
      Master Servicer is required to maintain pursuant to Section 6.05.

     

    In
      connection with the termination or resignation of the Master Servicer hereunder,
      either (i) the successor Master Servicer, including the Trustee if the Trustee
      is acting as successor Master Servicer, shall represent and warrant that it
      is a
      member of MERS in good standing and shall agree to comply in all material
      respects with the rules and procedures of MERS in connection with the servicing
      of the Mortgage Loans that are registered with MERS, or (ii) the predecessor
      Master Servicer shall cooperate with the successor Master Servicer in causing
      MERS to execute and deliver an assignment of Mortgage in recordable form to
      transfer the Mortgage from MERS to the Trustee and to execute and deliver such
      other notices, documents and other instruments as may be necessary or desirable
      to effect a transfer of such Mortgage Loan or servicing of such Mortgage Loan
      on
      the MERS® System to the successor Master Servicer. The predecessor Master
      Servicer shall file or cause to be filed any such assignment in the appropriate
      recording office. The successor Master Servicer shall cause such assignment
      to
      be delivered to the Trustee promptly upon receipt of the original with evidence
      of recording thereon or a copy certified by the public recording office in
      which
      such assignment was recorded.

     

    Section
      7.03 Notification
      to Certificateholders.

     

    (a) Upon
      any
      termination of or appointment of a successor to the Master Servicer, the Trustee
      shall give prompt written notice thereof to Certificateholders and to each
      Rating Agency.

     

    (b) Within
      60
      days after the occurrence of any Event of Default, the Trustee shall transmit
      by
      mail to all Certificateholders notice of each such Event of Default hereunder
      known to the Trustee, unless such Event of Default shall have been cured or
      waived.

     

    ARTICLE
      VIII.

     

    CONCERNING
      THE TRUSTEE

     

    Section
      8.01 Duties
      of Trustee.

     

    The
      Trustee, prior to the occurrence of an Event of Default and after the curing
      of
      all Events of Default that may have occurred, shall undertake to perform such
      duties and only such duties as are specifically set forth in this Agreement.
      In
      case an Event of Default has occurred and remains uncured, 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 person would
      exercise or use under the circumstances in the conduct of such person’s own
      affairs.

     

    The
      Trustee, upon receipt of all resolutions, certificates, statements, opinions,
      reports, documents, orders or other instruments furnished to the Trustee that
      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, to the extent provided in this Agreement. If
      any
      such instrument is found not to conform to the requirements of this Agreement
      in
      a material manner, the Trustee shall take action as it deems appropriate to
      have
      the instrument corrected.

     

    No
      provision of this Agreement shall be construed to relieve the Trustee from
      liability for its own grossly negligent action, its own gross negligent failure
      to act or its own misconduct, its grossly negligent failure to perform its
      obligations in compliance with this Agreement, or any liability that would
      be
      imposed by reason of its willful misfeasance or bad faith; provided
      that:

     

    (1) prior
      to
      the occurrence of an Event of Default, and after the curing of all such Events
      of Default that 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, individually or as Trustee, except for the
      performance of such 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 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 that it reasonably believed in good faith to
      be
      genuine and to have been duly executed by the proper authorities respecting
      any
      matters arising hereunder;

     

    (2) the
      Trustee shall not be liable, individually or as Trustee, for an error of
      judgment made in good faith by a Responsible Officer or Responsible Officers
      of
      the Trustee, unless the Trustee was grossly negligent or acted in bad faith
      or
      with willful misfeasance;

     

    (3) the
      Trustee shall not be liable, individually or as Trustee, with respect to any
      action taken, suffered or omitted to be taken by it in good faith in accordance
      with the direction of the Holders of each Class of Certificates evidencing
      not
      less than 25% of the Voting Rights of such Class relating to the time, method
      and place of conducting any proceeding for any remedy available to the Trustee,
      or exercising any trust or power conferred upon the Trustee under this
      Agreement; and 

     

    (4) without
      in any way limiting the provisions of this Section 8.01 or Section 8.02 hereof,
      the Trustee shall be entitled to rely conclusively on the information delivered
      to it by the Master Servicer in a Trustee Advance Notice in determining whether
      or not it is required to make an Advance under Section 4.01(d), shall have
      no
      responsibility to ascertain or confirm any information contained in any Trustee
      Advance Notice, and shall have no obligation to make any Advance under Section
      4.01(d) in the absence of a Trustee Advance Notice or actual knowledge by a
      Responsible Officer that (A) a required Advance was not made and (B) such
      required Advance was not a Nonrecoverable Advance.

     

    Section
      8.02 Certain
      Matters Affecting the Trustee.

     

    (a) Except
      as
      otherwise provided in Section 8.01:

     

    (1) the
      Trustee may request and rely upon and shall be protected in acting or refraining
      from acting upon any resolution, Officer’s Certificate, certificate of auditors
      or any other certificate, statement, instrument, opinion, report, notice,
      request, consent, order, appraisal, bond or other paper or document believed
      by
      it to be genuine and to have been signed or presented by the proper party or
      parties;

     

    (2) the
      Trustee may consult with counsel and 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 Opinion
      of
      Counsel;

     

    (3) the
      Trustee shall not be liable, individually or as Trustee, 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;

     

    (4) prior
      to
      the occurrence of an Event of Default hereunder and after the curing of all
      Events of Default that 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 document, unless requested in writing
      so
      to do by the NIM Insurer or the Holders of each Class of Certificates evidencing
      not less than 25% of the Voting Rights of such Class; 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
      NIM
      Insurer or such Certificateholders, the Trustee may require reasonable indemnity
      against such expense, or liability from the NIM Insurer or such
      Certificateholders as a condition to taking any such action;

     

    (5) the
      Trustee may execute any of the trusts or powers hereunder or perform any duties
      hereunder either directly or by or through agents, accountants or
      attorneys;

     

    (6) the
      Trustee shall not be required to expend its own funds or otherwise incur any
      financial liability in the performance of any of its duties hereunder if it
      shall have reasonable grounds for believing that repayment of such funds or
      adequate indemnity against such liability is not assured to it;

     

    (7) the
      Trustee shall not be liable, individually or as Trustee, for any loss on any
      investment of funds pursuant to this Agreement (other than as issuer of the
      investment security);

     

    (8) the
      Trustee shall not be deemed to have knowledge of an Event of Default until
      a
      Responsible Officer of the Trustee shall have received written notice thereof;
      and

     

    (9) the
      Trustee shall be under no obligation to exercise any of the trusts or powers
      vested in it by this Agreement or to make any investigation of matters arising
      hereunder or to institute, conduct or defend any litigation hereunder or in
      relation hereto at the request, order or direction of the NIM Insurer or any
      of
      the Certificateholders, pursuant to the provisions of this Agreement, unless
      the
      NIM Insurer or such Certificateholders, as applicable, shall have offered to
      the
      Trustee reasonable security or indemnity against the costs, expenses and
      liabilities that may be incurred therein or thereby.

     

    (b) All
      rights of action under this Agreement or under any of the Certificates,
      enforceable by the Trustee, may be enforced by the Trustee without the
      possession of any of the Certificates, or the production thereof at the trial
      or
      other proceeding relating thereto, and any such suit, action or proceeding
      instituted by the Trustee shall be brought in its name for the benefit of all
      the Holders of the Certificates, subject to the provisions of this
      Agreement.

     

    The
      Depositor hereby directs the Trustee to execute, deliver and perform its
      obligations under the Swap Contract Administration Agreement (in its capacity
      as
      Swap Trustee). The Sellers, the Depositor, the Master Servicer and the Holders
      of the Interest-Bearing Certificates by their acceptance of such Certificates
      acknowledge and agree that the Trustee shall execute, deliver and perform its
      obligations under the Swap Contract Administration Agreement and shall do so
      solely in its capacity as Swap Trustee, as the case may be, and not in its
      individual capacity. Every provision of this Agreement relating to the conduct
      or affecting the liability of or affording protection to the Trustee shall
      apply
      to the Trustee’s execution of the Swap Contract Administration Agreement in its
      capacity as Swap Trustee, and the performance of its duties and satisfaction
      of
      its obligations thereunder.

     

    Section
      8.03 Trustee
      Not Liable for Mortgage Loans.

     

    The
      recitals contained herein shall be taken as the statements of the Depositor
      or
      the Master Servicer, as the case may be, and the Trustee assumes no
      responsibility for their correctness. The Trustee makes no representations
      as to
      the validity or sufficiency of this Agreement or of any Mortgage Loan or related
      document or of MERS or the MERS® System other than with respect to the Trustee’s
      execution and authentication of the Certificates. The Trustee shall not be
      accountable for the use or application by the Depositor or the Master Servicer
      of any funds paid to the Depositor or the Master Servicer in respect of the
      Mortgage Loans or deposited in or withdrawn from the Certificate Account by
      the
      Depositor or the Master Servicer.

     

    Section
      8.04 Trustee
      May Own Certificates.

     

    The
      Trustee in its individual or any other capacity may become the owner or pledgee
      of Certificates with the same rights as it would have if it were not the
      Trustee.

     

    Section
      8.05 Master
      Servicer to Pay Trustee’s Fees and Expenses.

     

    The
      Master Servicer covenants and agrees to pay or reimburse the Trustee, upon
      its
      request, for all reasonable expenses, disbursements and advances incurred or
      made by the Trustee on behalf of the Trust Fund in accordance with any of the
      provisions of this Agreement (including, without limitation: (A) the reasonable
      compensation and the expenses and disbursements of its counsel, but only for
      representation of the Trustee acting in its capacity as Trustee hereunder and
      (B) to the extent that the Trustee must engage persons not regularly in its
      employ to perform acts or services on behalf of the Trust Fund, which acts
      or
      services are not in the ordinary course of the duties of a trustee, paying
      agent
      or certificate registrar, in the absence of a breach or default by any party
      hereto, the reasonable compensation, expenses and disbursements of such persons,
      except any such expense, disbursement or advance as may arise from its
      negligence, bad faith or willful misconduct). The Trustee and any director,
      officer, employee or agent of the Trustee shall be indemnified by the Master
      Servicer and held harmless against any loss, liability or expense (i) incurred
      in connection with any legal action relating to this Agreement or the
      Certificates, or in connection with the performance of any of the Trustee’s
      duties hereunder, other than any loss, liability or expense incurred by reason
      of willful misfeasance, bad faith or negligence in the performance of any of
      the
      Trustee’s duties hereunder or by reason of reckless disregard of the Trustee’s
      obligations and duties hereunder or (ii) resulting from any error in any tax
      or
      information return prepared by the Master Servicer. Such indemnity shall survive
      the termination of this Agreement or the resignation or removal of the Trustee
      hereunder.

     

    Section
      8.06 Eligibility
      Requirements for Trustee.

     

    The
      Trustee hereunder shall, at all times, be a corporation or association organized
      and doing business under the laws of a state or the United States of America,
      authorized under such laws to exercise corporate trust powers, having a combined
      capital and surplus of at least $50,000,000, subject to supervision or
      examination by federal or state authority and with a credit rating that would
      not cause any of the Rating Agencies to reduce their respective ratings of
      any
      Class of Certificates below the ratings issued on the Closing Date (or having
      provided such security from time to time as is sufficient to avoid such
      reduction). If such corporation or association 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 corporation or association shall be
      deemed to be its combined capital and surplus as set forth in its most recent
      report of condition so published. 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. The corporation or national banking association serving as Trustee
      may have normal banking and trust relationships with the Depositor, the Sellers
      and the Master Servicer and their respective affiliates; provided that such
      corporation cannot be an affiliate of the Master Servicer other than the Trustee
      in its role as successor to the Master Servicer.

     

    Section
      8.07 Resignation
      and Removal of Trustee.

     

    The
      Trustee may at any time resign and be discharged from the trusts hereby created
      by (1) giving written notice of resignation to the Depositor and the Master
      Servicer and by mailing notice of resignation by first class mail, postage
      prepaid, to the Certificateholders at their addresses appearing on the
      Certificate Register and each Rating Agency, not less than 60 days before the
      date specified in such notice when, subject to Section 8.08, such resignation
      is
      to take effect, and (2) acceptance of appointment by a successor trustee in
      accordance with Section 8.08 and meeting the qualifications set forth in Section
      8.06. If no successor trustee shall have been so appointed and have accepted
      appointment within 30 days after the giving of such notice or resignation,
      the
      resigning Trustee may petition any court of competent jurisdiction for the
      appointment of a successor trustee.

     

    As
      a
      condition to the effectiveness of any such resignation, at least 15 calendar
      days prior to the effective date of such resignation, the Trustee shall provide
      (x) written notice to the Depositor of any successor pursuant to this Section
      and (y) in writing and in form and substance reasonably satisfactory to the
      Depositor, all information reasonably requested by the Depositor in order to
      comply with its reporting obligation under Item 6.02 of Form 8-K with respect
      to
      the resignation of the Trustee.

     

    If
      at any
      time (i) the Trustee shall cease to be eligible in accordance with the
      provisions of Section 8.06 hereof and shall fail to resign after written request
      thereto by the NIM Insurer or the Depositor, (ii) the Trustee shall become
      incapable of acting, or shall be adjudged as 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, (iii)(A)
      a tax is imposed with respect to the Trust Fund by any state in which the
      Trustee or the Trust Fund is located, (B) the imposition of such tax would
      be
      avoided by the appointment of a different trustee and (C) the Trustee fails
      to
      indemnify the Trust Fund against such tax, or (iv) during the period which
      the
      Depositor is required to file Exchange Act Reports with respect to the Trust
      Fund, the Trustee fails to comply with its obligations under the last sentence
      of Section 7.01, the preceding paragraph, Section 8.09 or Article XI and such
      failure is not remedied within the lesser of 10 calendar days or such period
      in
      which the applicable Exchange Act Report can be filed timely (without taking
      into account any extensions), then, in the case of clauses (i) through (iii),
      the Depositor, the NIM Insurer or the Master Servicer, or in the case of clause
      (iv), the Depositor, may remove the Trustee and appoint a successor trustee,
      reasonably acceptable to the NIM Insurer, by written instrument, in triplicate,
      one copy of which instrument shall be delivered to the Trustee, one copy of
      which shall be delivered to the Master Servicer and one copy of which shall
      be
      delivered to the successor trustee.

     

    The
      Holders evidencing at least 51% of the Voting Rights of each Class of
      Certificates may at any time remove the Trustee and appoint a successor trustee
      by written instrument or instruments, in triplicate, signed by such Holders
      or
      their attorneys-in-fact duly authorized, one complete set of which instruments
      shall be delivered by the successor Trustee to the Master Servicer one complete
      set to the Trustee so removed, one complete set to the successor so appointed
      and one complete set to the Depositor, together with a written description
      of
      the basis for such removal. Notice of any removal of the Trustee shall be given
      to each Rating Agency by the successor Trustee.

     

    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 become effective
      upon acceptance of appointment by the successor trustee as provided in Section
      8.08 hereof.

     

    Section
      8.08 Successor
      Trustee.

     

    Any
      successor trustee appointed as provided in Section 8.07 hereof shall execute,
      acknowledge and deliver to the Depositor, its predecessor trustee and the Master
      Servicer 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 the like effect as if originally named as trustee
      herein. In addition, if the Swap Contract is still outstanding, the Person
      appointed as successor trustee shall execute, acknowledge and deliver to the
      predecessor trustee, CHL and the Master Servicer an instrument accepting the
      appointment as successor Swap Contract Administrator under the Swap Contract
      Administration Agreement.

     

    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, is reasonably acceptable to the
      NIM
      Insurer, its appointment shall not adversely affect the then-current ratings
      of
      the Certificates and has provided to the Depositor in writing and in form and
      substance reasonably satisfactory to the Depositor, all information reasonably
      requested by the Depositor in order to comply with its reporting obligation
      under Item 6.02 of Form 8-K with respect to a replacement Trustee. Upon
      acceptance of appointment by a successor trustee as provided in this Section
      8.08, the Depositor shall mail notice of the succession of such trustee
      hereunder to the NIM Insurer and all Holders of Certificates. If the Depositor
      fails to mail such notice within ten days after acceptance of appointment by
      the
      successor trustee, the successor trustee shall cause such notice to be mailed
      at
      the expense of the Depositor.

     

    Section
      8.09 Merger
      or Consolidation of Trustee.

     

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

     

    As
      a
      condition to the effectiveness of any merger or consolidation, at least 15
      calendar days prior to the effective date of any merger or consolidation of
      the
      Trustee, the Trustee shall provide (x) written notice to the Depositor of any
      successor pursuant to this Section and (y) in writing and in form and substance
      reasonably satisfactory to the Depositor, all information reasonably requested
      by the Depositor in order to comply with its reporting obligation under Item
      6.02 of Form 8-K with respect to a replacement Trustee.

     

    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 property securing any Mortgage Note may at the time be located, the Master
      Servicer and the Trustee acting jointly shall have the power and shall execute
      and deliver all instruments to appoint one or more Persons approved by the
      Trustee and reasonably acceptable to the NIM 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, whichever is applicable, and, subject to the
      other provisions of this Section 8.10, such powers, duties, obligations, rights
      and trusts as the Master Servicer and the Trustee may consider necessary or
      desirable. If the Master Servicer shall not have joined in such appointment,
      or
      the NIM Insurer shall not have approved such appointment, within 15 days after
      receipt by it of a request to do so, or in the case an Event of Default shall
      have occurred and be continuing, the Trustee shall have the power to make such
      appointment. No co-trustee or separate trustee hereunder shall be required
      to
      meet the terms of eligibility as a successor trustee under Section 8.06 and
      no
      notice to Certificateholders of the appointment of any co-trustee or separate
      trustee shall be required under Section 8.08.

     

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

     

    (1) All
      rights, powers, duties and obligations conferred or imposed upon the Trustee,
      except for the obligation of the Trustee under this Agreement to advance funds
      on behalf of the Master Servicer, 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
      Master 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;

     

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

     

    (3) The
      Trustee 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
      Master Servicer and the Depositor.

     

    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.

     

    Section
      8.11 Tax
      Matters.

     

    It
      is
      intended that the Trust Fund shall constitute, and that the affairs of the
      Trust
      Fund shall be conducted so that each REMIC created pursuant to the Preliminary
      Statement qualifies as, a “real estate mortgage investment conduit” as defined
      in and in accordance with the REMIC Provisions. In furtherance of such
      intention, the Trustee covenants and agrees that it shall act as agent (and
      the
      Trustee is hereby appointed to act as agent) on behalf of the Trust Fund and
      that in such capacity it shall: (a) prepare and file, or cause to be prepared
      and filed, in a timely manner, a U.S. Real Estate Mortgage Investment Conduit
      Income Tax Returns (Form 1066 or any successor form adopted by the Internal
      Revenue Service) and prepare and file or cause to be prepared and filed with
      the
      Internal Revenue Service and applicable state or local tax authorities income
      tax or information returns for each taxable year with respect to each REMIC
      created hereunder containing such information and at the times and in the manner
      as may be required by the Code or state or local tax laws, regulations, or
      rules, and furnish or cause to be furnished to Certificateholders the schedules,
      statements or information at such times and in such manner as may be required
      thereby; (b) within thirty days of the Closing Date, furnish or cause to be
      furnished to the Internal Revenue Service, on Forms 8811 or as otherwise may
      be
      required by the Code, the name, title, address, and telephone number of the
      person that the Holders of the Certificates may contact for tax information
      relating thereto, together with such additional information as may be required
      by such Form, and update such information at the time or times in the manner
      required by the Code for the Trust Fund; (c) make or cause to be made elections,
      on behalf of each REMIC created hereunder to be treated as a REMIC on the
      federal tax return of each such REMIC for its first taxable year (and, if
      necessary, under applicable state law); (d) prepare and forward, or cause to
      be
      prepared and forwarded, to the Certificateholders and to the Internal Revenue
      Service and, if necessary, state tax authorities, all information returns and
      reports as and when required to be provided to them in accordance with the
      REMIC
      Provisions, including without limitation, the calculation of any original issue
      discount using the Prepayment Assumption; (e) provide information necessary
      for
      the computation of tax imposed on the transfer of a Class A-R Certificate to
      a
      Person that is not a Permitted Transferee, or an agent (including a broker,
      nominee or other middleman) of a Non-Permitted Transferee, or a pass-through
      entity in which a Non-Permitted Transferee is the record holder of an interest
      (the reasonable cost of computing and furnishing such information may be charged
      to the Person liable for such tax); (f) to the extent that they are under its
      control conduct the affairs of the Trust Fund at all times that any Certificates
      are outstanding so as to maintain the status of each REMIC created hereunder
      as
      a REMIC under the REMIC Provisions; (g) not knowingly or intentionally take
      any
      action or omit to take any action that would cause the termination of the REMIC
      status of any REMIC created hereunder; (h) pay, from the sources specified
      in
      the penultimate paragraph of this Section 8.11, the amount of any federal,
      state
      and local taxes, including prohibited transaction taxes as described below,
      imposed on any REMIC created hereunder prior to the termination of the Trust
      Fund when and as the same shall be due and payable (but such obligation shall
      not prevent the Trustee or any other appropriate Person from contesting any
      such
      tax in appropriate proceedings and shall not prevent the Trustee from
      withholding payment of such tax, if permitted by law, pending the outcome of
      such proceedings); (i) sign or cause to be signed federal, state or local income
      tax or information returns; (j) maintain records relating to each REMIC created
      hereunder, including but not limited to the income, expenses, assets and
      liabilities of each such REMIC, and the fair market value and adjusted basis
      of
      the Trust Fund property determined at such intervals as may be required by
      the
      Code, as may be necessary to prepare the foregoing returns, schedules,
      statements or information; and (k) as and when necessary and appropriate,
      represent the Trust Fund in any administrative or judicial proceedings relating
      to an examination or audit by any governmental taxing authority, request an
      administrative adjustment as to any taxable year of any REMIC created hereunder,
      enter into settlement agreements with any governmental taxing agency, extend
      any
      statute of limitations relating to any tax item of the Trust Fund, and otherwise
      act on behalf of any REMIC created hereunder in relation to any tax matter
      involving any such REMIC. 

     

    In
      order
      to enable the Trustee to perform its duties as set forth herein, the Depositor
      shall provide, or cause to be provided, to the Trustee within ten days after
      the
      Closing Date all information or data that the Trustee requests in writing and
      determines to be relevant for tax purposes to the valuations and offering prices
      of the Certificates, including, without limitation, the price, yield, prepayment
      assumption and projected cash flows of the Certificates and the Mortgage Loans
      (and, to the extent not part of the aforementioned, the information referred
      to
      in paragraphs (1), (2), (3) and (4) of Section 4.05(d)). Thereafter, the
      Depositor shall provide to the Trustee promptly upon written request therefor,
      any such additional information or data that the Trustee may, from time to
      time,
      request in order to enable the Trustee to perform its duties as set forth
      herein. The Depositor hereby indemnifies the Trustee for any losses,
      liabilities, damages, claims or expenses of the Trustee arising from any errors
      or miscalculations of the Trustee that result from any failure of the Depositor
      to provide, or to cause to be provided, accurate information or data to the
      Trustee on a timely basis.

     

    In
      the
      event that any tax is imposed on “prohibited transactions” of the Trust Fund as
      defined in section 860F(a)(2) of the Code, on the “net income from foreclosure
      property” of the Trust Fund as defined in section 860G(c) of the Code, on any
      contribution to the Trust Fund after the startup day pursuant to section 860G(d)
      of the Code, or any other tax is imposed, including, without limitation, any
      federal, state or local tax or minimum tax imposed upon the Trust Fund pursuant
      to sections 23153 and 24872 of the California Revenue and Taxation Code if
      not
      paid as otherwise provided for herein, such tax shall be paid by (i) the
      Trustee, if any such other tax arises out of or results from a breach by the
      Trustee of any of its obligations under this Agreement, (ii) (x) the Master
      Servicer, in the case of any such minimum tax, and (y) any party hereto (other
      than the Trustee) to the extent any such other tax arises out of or results
      from
      a breach by such other party of any of its obligations under this Agreement
      or
      (iii) in all other cases, or in the event that any liable party here fails
      to
      honor its obligations under the preceding clauses (i) or (ii), any such tax
      will
      be paid first with amounts otherwise to be distributed to the Class A-R
      Certificateholders, and second with amounts otherwise to be distributed to
      all
      other Certificateholders in the same manner as if such tax were a Realized
      Loss
      that occurred ratably within each Loan Group. Notwithstanding anything to the
      contrary contained herein, to the extent that such tax is payable by the Class
      A-R Certificates, the Trustee is hereby authorized to retain on any Distribution
      Date, from the Holders of the Class A-R Certificates (and, if necessary, second,
      from the Holders of the all other Certificates in the priority specified in
      the
      preceding sentence), funds otherwise distributable to such Holders in an amount
      sufficient to pay such tax. The Trustee agrees to promptly notify in writing
      the
      party liable for any such tax of the amount thereof and the due date for the
      payment thereof.

     

    The
      Trustee shall treat the Carryover Reserve Fund and the Swap Trust, including
      the
      Swap Account, as outside reserve funds within the meaning of Treasury Regulation
      1.860G-2(h), neither of which is an asset of any REMIC created hereunder. The
      Carryover Reserve Fund shall be treated as owned by the Class C
      Certificateholders and the Swap Trust, including the Swap Account shall be
      treated as owned by the Class C Certificateholders. The rights of the Holders
      of
      each Class of Certificates (other than the Class P and Class A-R Certificates)
      to receive payments from, and the deemed obligations of such Holders to make
      payments to, the Carryover Reserve Fund or the Swap Trust, including the Swap
      Account, shall be treated as rights and obligations with respect to notional
      principal contracts written by the Holders of the Class C Certificates in
      respect of any Net Rate Carryover distributed pursuant to Sections 4.04(c)(4),
      and (ii) the Swap Counterparty in respect of any Net Rate Carryover funded
      by
      the Swap Contract and in respect of any residual payments from such Swap
      Contract received by the Class C Certificates. Thus, the Certificates (other
      than the Class P and Class A-R Certificates), shall be treated as representing
      ownership of Master REMIC regular interests coupled with contractual rights
      and
      obligations within the meaning of Treasury Regulation 1.860G-2(i). For
      purposes of determining the issue price of the various Master REMIC regular
      interests, the Trustee shall assume that the Swap Contract has a value of
      $1,295,000.

     

    In
      addition, to the extent the interest otherwise payable to a Certificateholder
      is
      reduced for amounts payable with respect to the Swap Contract, the Trustee,
      for
      federal income tax purposes, shall treat the amount of such reduction as first
      payable to the Certificateholder as interest and as then payable by the
      Certificateholder with respect to a notional principal contract. To the extent
      the amount payable with respect to the Swap Contract exceeds the aggregate
      of
      the reductions described in the immediate sentence, the Trustee, for federal
      income tax purposes, shall treat such excess as Realized Losses from Mortgage
      Loans and to the extent such Realized Losses (if they had occurred) would be
      allocated to a Certificateholder, the Trustee shall treat such amount as first
      payable to the Certificateholder as principal and as then payable by the
      Certificateholder with respect to a notional principal contract.

     

    Section
      8.12 [Reserved].

     

    Section
      8.13 Access
      to Records of the Trustee.

     

    The
      Trustee shall afford the Sellers, the Depositor, the Master Servicer, the NIM
      Insurer and each Certificate Owner upon reasonable notice during normal business
      hours access to all records maintained by the Trustee in respect of its duties
      under this Agreement and access to officers of the Trustee responsible for
      performing its duties. Upon request, the Trustee shall furnish the Depositor,
      the Master Servicer, the NIM Insurer and any requesting Certificate Owner with
      its most recent financial statements. The Trustee shall cooperate fully with
      the
      Sellers, the Master Servicer, the Depositor, the NIM Insurer and the Certificate
      Owner for review and copying any books, documents, or records requested with
      respect to the Trustee’s duties under this Agreement. The Sellers, the
      Depositor, the Master Servicer and the Certificate Owner shall not have any
      responsibility or liability for any action for failure to act by the Trustee
      and
      are not obligated to supervise the performance of the Trustee under this
      Agreement or otherwise. 

     

    Section
      8.14 Suits
      for Enforcement.

     

    If
      an
      Event of Default or other material default by the Master Servicer or the
      Depositor under this Agreement occurs and is continuing, at the direction of
      the
      Certificateholders holding not less than 51% of the Voting Rights or the NIM
      Insurer, the Trustee shall proceed to protect and enforce its rights and the
      rights of the Certificateholders or the NIM Insurer under this Agreement 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, the NIM
      Insurer and the Certificateholders.

     

    ARTICLE
      IX.

     

    TERMINATION

     

    Section
      9.01 Termination
      upon Liquidation or Repurchase of all Mortgage Loans.

     

    Subject
      to Section 9.03, the Trust Fund shall terminate and the obligations and
      responsibilities of the Depositor, the Master Servicer, the Sellers and the
      Trustee created hereby shall terminate upon the earlier of (a) the purchase
      by
      the Master Servicer or NIM Insurer (the party exercising such purchase option,
      the “Terminator”) of all of the Mortgage Loans (and REO Properties) remaining in
      the Trust Fund at the price equal to the sum of (i) 100% of the Stated Principal
      Balance of each Mortgage Loan in the Trust Fund (other than in respect of an
      REO
      Property), (ii) accrued interest thereon at the applicable Mortgage Rate (or,
      if
      such repurchase is effected by the Master Servicer, at the applicable Net
      Mortgage Rate), (iii) the appraised value of any REO Property in the Trust
      Fund
      (up to the Stated Principal Balance of the related Mortgage Loan), such
      appraisal to be conducted by an appraiser mutually agreed upon by the Terminator
      and the Trustee, (iv) any remaining unpaid costs and damages incurred by the
      Trust Fund that arises out of an actual violation of any predatory or abusive
      lending law or regulation and (v) if the Terminator is the NIM Insurer, any
      unreimbursed Servicing Advances, and the principal portion of any unreimbursed
      Advances, made on the Mortgage Loans prior to the exercise of such repurchase
      and (b) the later of (i) the maturity or other liquidation (or any Advance
      with
      respect thereto) of the last Mortgage Loan remaining in the Trust Fund and
      the
      disposition of all REO Property and (ii) the distribution to related
      Certificateholders of all amounts required to be distributed to them pursuant
      to
      this Agreement, as applicable. In no event shall the trusts created hereby
      continue beyond the earlier of (i) 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 and
      (ii) the Latest Possible Maturity Date.

     

    The
      right
      to purchase all Mortgage Loans and REO Properties by the Terminator pursuant
      to
      clause (a) of the immediately preceding paragraph shall be conditioned upon
      (1)
      the Stated Principal Balance of the Mortgage Loans, at the time of any such
      repurchase, aggregating ten percent (10%) or less of the sum of the aggregate
      Cut-off Date Principal Balance of the Initial Mortgage Loans and the Pre-Funded
      Amount and (2) unless the NIM Insurer otherwise consents, the purchase price
      for
      such Mortgage Loans and REO Properties shall result in a final distribution
      on
      any NIM Insurer guaranteed notes that is sufficient (x) to pay such notes in
      full and (y) to pay any amounts due and payable to the NIM Insurer pursuant
      to
      the indenture related to such notes.

     

    The
      NIM
      Insurer’s right to purchase all Mortgage Loans and REO Properties shall be
      further conditioned upon the written consent of the Master
      Servicer.

     

    The
      Swap
      Trust shall terminate on the earlier of (i) the Swap Contract Termination Date,
      (ii) the reduction of the aggregate Certificate Principal Balance of the
      Interest-Bearing Certificates to zero and (iii) the termination of this
      Agreement.

     

    Section
      9.02 Final
      Distribution on the Certificates.

     

    If
      on any
      Determination Date, (i) the Master Servicer determines that there are no
      Outstanding Mortgage Loans and no other funds or assets in the Trust Fund other
      than the funds in the Certificate Account, the Master Servicer shall direct
      the
      Trustee to send a final distribution notice promptly to each related
      Certificateholder or (ii) the Trustee determines that a Class of Certificates
      shall be retired after a final distribution on such Class, the Trustee shall
      notify the related Certificateholders within five (5) Business Days after such
      Determination Date that the final distribution in retirement of such Class
      of
      Certificates is scheduled to be made on the immediately following Distribution
      Date. Any final distribution made pursuant to the immediately preceding sentence
      will be made only upon presentation and surrender of the related Certificates
      at
      the Corporate Trust Office of the Trustee. If the Terminator elects to terminate
      pursuant to clause (a) of Section 9.01, at least 20 days prior to the date
      notice is to be mailed to the affected Certificateholders, such electing party
      shall notify the Depositor and the Trustee of the date such electing party
      intends to terminate and of the applicable repurchase price of the related
      Mortgage Loans and REO Properties.

     

    Notice
      of
      any termination, specifying the Distribution Date on which related
      Certificateholders may surrender their Certificates for payment of the final
      distribution and cancellation, shall be given promptly by the Trustee by letter
      to related Certificateholders mailed not earlier than the 10th
      day and
      no later than the 15th
      day of
      the month immediately preceding the month of such final distribution. Any such
      notice shall specify (a) the Distribution Date upon which final distribution
      on
      related Certificates will be made upon presentation and surrender of such
      Certificates at the office therein designated, (b) the amount of such final
      distribution, (c) the location of the office or agency at which such
      presentation and surrender must be made, and (d) that the Record Date otherwise
      applicable to such Distribution Date is not applicable, distributions being
      made
      only upon presentation and surrender of such Certificates at the office therein
      specified. The Terminator will give such notice to each Rating Agency at the
      time such notice is given to the affected Certificateholders.

     

    In
      the
      event such notice is given, the Master Servicer shall cause all funds in the
      Certificate Account to be remitted to the Trustee for deposit in the
      Distribution Account on the Business Day prior to the applicable Distribution
      Date in an amount equal to the final distribution in respect of the
      Certificates. Upon such final deposit and the receipt by the Trustee of a
      Request for File Release therefor, the Trustee shall promptly release to the
      Master Servicer the Mortgage Files for the Mortgage Loans.

     

    Upon
      presentation and surrender of the Certificates, the Trustee shall cause to
      be
      distributed to Certificateholders of each affected Class the amounts allocable
      to such Certificates held in the Distribution Account (and, if applicable,
      the
      Carryover Reserve Fund) in the order and priority set forth in Section 4.04
      hereof on the final Distribution Date and in proportion to their respective
      Percentage Interests. Notwithstanding the reduction of the Certificate Principal
      Balance of any Class of Certificates to zero, such Class will be outstanding
      hereunder (solely for the purpose of receiving distributions (if any) to which
      it may be entitled pursuant to the terms of this Agreement and not for any
      other
      purpose) until the termination of the respective obligations and
      responsibilities of the Depositor, each Seller, the Master Servicer and the
      Trustee hereunder in accordance with Article IX.

     

    In
      the
      event that any affected Certificateholders shall not surrender related
      Certificates for cancellation within six months after the date specified in
      the
      above mentioned written notice, the Trustee shall give a second written notice
      to the remaining Certificateholders to surrender their related Certificates
      for
      cancellation and receive the final distribution with respect thereto. If within
      six months after the second notice all the applicable Certificates shall not
      have been surrendered for cancellation, the Trustee may take appropriate steps,
      or may appoint an agent to take appropriate steps, to contact the remaining
      Certificateholders concerning surrender of their Certificates, and the cost
      thereof shall be paid out of the funds and other assets that remain a part
      of
      the Trust Fund. If within one year after the second notice all related
      Certificates shall not have been surrendered for cancellation, the Class A-R
      Certificates shall be entitled to all unclaimed funds and other assets that
      remain subject hereto.

     

    Section
      9.03 Additional
      Termination Requirements.

     

    (a) In
      the
      event the Terminator exercises its purchase option, the Trust Fund shall be
      terminated in accordance with the following additional requirements, unless
      the
      Trustee has been supplied with an Opinion of Counsel, at the expense of the
      Terminator, to the effect that the failure of the Trust Fund to comply with
      the
      requirements of this Section 9.03 will not (i) result in the imposition of
      taxes
      on “prohibited transactions” of a REMIC, or (ii) cause any REMIC created
      hereunder to fail to qualify as a REMIC at any time that any Certificates are
      outstanding:

     

    (1) The
      Master Servicer shall establish a 90-day liquidation period and notify the
      Trustee thereof, which shall in turn specify the first day of such period in
      a
      statement attached to the Trust Fund’s final Tax Return pursuant to Treasury
      Regulation Section 1.860F-1. The Master Servicer shall prepare a plan of
      complete liquidation and shall otherwise satisfy all the 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
      and
      the Depositor obtained at the expense of the Terminator;

     

    (2) During
      such 90-day liquidation period, and at or prior to the time of making the final
      payment on the Certificates, the Master Servicer as agent of the Trustee shall
      sell all of the assets of the Trust Fund to the Terminator for cash;
      and

     

    (3) At
      the
      time of the making of the final payment on the Certificates, the Trustee shall
      distribute or credit, or cause to be distributed or credited, to the Class
      A-R
      Certificateholders all cash on hand (other than cash retained to meet claims)
      related to such Class of Certificates, and the Trust Fund shall terminate at
      that time.

     

    (b) By
      their
      acceptance of the Certificates, the Holders thereof hereby authorize the Master
      Servicer to specify the 90-day liquidation period for the Trust Fund, which
      authorization shall be binding upon all successor Certificateholders. The
      Trustee shall attach a statement to the final federal income tax return for
      each
      of any REMIC created hereunder stating that pursuant to Treasury Regulation
      Section 1.860F-1, the first day of the 90-day liquidation period for each the
      REMIC was the date on which the Trustee sold the assets of the Trust Fund to
      the
      Terminator.

     

    (c) The
      Trustee as agent for each REMIC created hereunder hereby agrees to adopt and
      sign such a plan of complete liquidation upon the written request of the Master
      Servicer, and the receipt of the Opinion of Counsel referred to in Section
      9.03(a)(1), and together with the Holders of the Class A-R Certificates agree
      to
      take such other action in connection therewith as may be reasonably requested
      by
      the Terminator.

     

    ARTICLE
      X.

     

    MISCELLANEOUS
      PROVISIONS

     

    Section
      10.01 Amendment.

     

    This
      Agreement may be amended from time to time by the Depositor, the Master
      Servicer, the Sellers and the Trustee with the consent of the NIM Insurer,
      without the consent of any of the Certificateholders (i) to cure any ambiguity,
      (ii) to correct or supplement any provisions herein, (iii) to conform this
      Agreement to the Prospectus Supplement or the Prospectus, (iv) to modify, alter,
      amend, add to or rescind any of the terms or provisions contained in this
      Agreement to comply with any rules or regulations promulgated by the Securities
      and Exchange Commission from time to time, or (v) to make such other provisions
      with respect to matters or questions arising under this Agreement, as shall
      not
      be inconsistent with any other provisions herein if such action shall not,
      as
      evidenced by an Opinion of Counsel, adversely affect in any material respect
      the
      interests of any Certificateholder; provided that any such amendment shall
      be
      deemed not to adversely affect in any material respect the interests of the
      Certificateholders and no such Opinion of Counsel shall be required if the
      Person requesting such amendment obtains a letter from each Rating Agency
      stating that such amendment would not result in the downgrading or withdrawal
      of
      the respective ratings then assigned to the Certificates, it being understood
      and agreed that any such letter in and of itself will not represent a
      determination as to the materiality of any such amendment and will represent
      a
      determination only as to the credit issues affecting any such rating. Any
      amendment described above made solely to conform this Agreement to the
      Prospectus or the Prospectus Supplement shall be deemed not to adversely affect
      in any material respect the interests of the Certificateholders. Notwithstanding
      the foregoing, no amendment that significantly changes the permitted activities
      of the trust created by this Agreement may be made without the consent of
      Certificateholders representing not less than 51% of the Voting Rights of each
      Class of Certificates affected by such amendment. Each party to this Agreement
      hereby agrees that it will cooperate with each other party in amending this
      Agreement pursuant to clause (iv) above.

     

    The
      Trustee, the Depositor, the Master Servicer and the Sellers with the consent
      of
      the NIM Insurer may also at any time and from time to time amend this Agreement,
      without the consent of the Certificateholders, to modify, eliminate or add
      to
      any of its provisions to such extent as shall be necessary or appropriate to
      maintain the qualification of the Trust Fund as a REMIC under the Code or to
      avoid or minimize the risk of the imposition of any tax on the Trust Fund
      pursuant to the Code that would be a claim against the Trust Fund at any time
      prior to the final redemption of the Certificates, provided that the Trustee
      has
      been provided an Opinion of Counsel, which opinion shall be an expense of the
      party requesting such opinion but in any case shall not be an expense of the
      Trustee, to the effect that such action is necessary or appropriate to maintain
      such qualification or to avoid or minimize the risk of the imposition of such
      a
      tax.

     

    This
      Agreement may also be amended from time to time by the Depositor, the Master
      Servicer, the Sellers and the Trustee with the consent of the NIM Insurer and
      the Holders of each Class of Certificates affected thereby evidencing not less
      than 51% of the Voting Rights of such Class 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; provided that no such amendment shall (i) reduce in any manner
      the
      amount of, or delay the timing of, payments required to be distributed on any
      Certificate without the consent of the Holder of such Certificate, (ii)
      adversely affect in any material respect the interests of the Holders of any
      Class of Certificates in a manner other than as described in (i), without the
      consent of the Holders of Certificates of such Class evidencing 66% or more
      of
      the Voting Rights of such Class, or (iii) reduce the aforesaid percentages
      of
      Certificates the Holders of which are required to consent to any such amendment
      without the consent of the Holders of all such Certificates then
      outstanding.

     

    Notwithstanding
      any contrary provision of this Agreement, no amendment shall adversely affect
      in
      any material respect the Swap Counterparty without at least ten Business Days’
prior notice to the Swap Counterparty and without the prior written consent
      of
      the Swap Counterparty, which consent shall not be unreasonably withheld. CHL
      shall provide the Swap Counterparty with prior written notice of any proposed
      material amendment of this Agreement.

     

    Notwithstanding
      any contrary provision of this Agreement, the Trustee and the NIM Insurer shall
      not consent to any amendment to this Agreement unless each shall have first
      received an Opinion of Counsel satisfactory to the Trustee and the NIM Insurer,
      which opinion shall be an expense of the party requesting such amendment but
      in
      any case shall not be an expense of the Trustee or the NIM Insurer, to the
      effect that such amendment will not cause the imposition of any tax on the
      Trust
      Fund or the Certificateholders or cause any REMIC formed hereunder to fail
      to
      qualify as a REMIC at any time that any Certificates are
      outstanding.

     

    Promptly
      after the execution of any amendment to this Agreement, the Trustee shall
      furnish written notification of the substance of such amendment to the Swap
      Counterparty, to each Certificateholder (if the consent of Certificateholders
      is
      required) and each Rating Agency.

     

    It
      shall
      not be necessary for the consent of Certificateholders under this Section to
      approve the particular form of any proposed amendment, but 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.

     

    Nothing
      in this Agreement shall require the Trustee to enter into an amendment without
      receiving an Opinion of Counsel, reasonably satisfactory to the Trustee and
      the
      NIM Insurer that (i) such amendment is permitted and is not prohibited by this
      Agreement and that all requirements for amending this Agreement have been
      complied with; and (ii) either (A) the amendment does not adversely affect
      in
      any material respect the interests of any Certificateholder or (B) the
      conclusion set forth in the immediately preceding clause (A) is not required
      to
      be reached pursuant to this Section 10.01.

     

    Section
      10.02 Recordation
      of Agreement; Counterparts.

     

    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 properties subject to the Mortgages are situated, and in
      any
      other appropriate public recording office or elsewhere, such recordation to
      be
      effected by the Master Servicer at its expense.

     

    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 constitute but one and the same
      instrument.

     

    Section
      10.03 Governing
      Law.

     

    THIS
      AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE
      LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
      IN THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
      HERETO AND THE CERTIFICATEHOLDERS SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
      LAWS.

     

    Section
      10.04 Intention
      of Parties.

     

    (a) It
      is the
      express intent of the parties hereto that the conveyance of the Mortgage Notes,
      Mortgages, assignments of Mortgages, title insurance policies and any
      modifications, extensions and/or assumption agreements and private mortgage
      insurance policies relating to the Mortgage Loans by the Depositor to the
      Trustee be, and be construed as, an absolute sale thereof to the Trustee. It
      is,
      further, not the intention of the parties that such conveyance be deemed a
      pledge thereof by the Depositor to the Trustee. However, in the event that,
      notwithstanding the intent of the parties, such assets are held to be the
      property of the Depositor, or if for any other reason this Agreement or any
      Subsequent Transfer Agreement is held or deemed to create a security interest
      in
      such assets, then (i) this Agreement shall be deemed to be a security agreement
      (within the meaning of the Uniform Commercial Code of the State of New York)
      with respect to all such assets and security interests and (ii) the conveyance
      provided for in this Agreement and any Subsequent Transfer Agreement shall
      be
      deemed to be an assignment and a grant pursuant to the terms of this Agreement
      by the Depositor to the Trustee, for the benefit of the Certificateholders
      and
      the Swap Counterparty, of a security interest in all of the assets that
      constitute the Trust Fund, whether now owned or hereafter acquired.

     

    The
      Depositor for the benefit of the Certificateholders, the NIM Insurer and the
      Swap Counterparty shall, to the extent consistent with this Agreement, take
      such
      actions as may be necessary to ensure that, if this Agreement were deemed to
      create a security interest in the assets of the Trust Fund, such security
      interest would be deemed to be a perfected security interest of first priority
      under applicable law and will be maintained as such throughout the term of
      the
      Agreement. The Depositor shall arrange for filing any Uniform Commercial Code
      continuation statements in connection with any security interest granted or
      assigned to the Trustee for the benefit of the Certificateholders and the Swap
      Counterparty.

     

    (b) The
      Depositor hereby represents that:

     

    (i) This
      Agreement creates a valid and continuing security interest (as defined in the
      Uniform Commercial Code as enacted in the State of New York (the “NY UCC”)) in
      the Mortgage Notes in favor of the Trustee, which security interest is prior
      to
      all other liens, and is enforceable as such as against creditors of and
      purchasers from the Depositor.

     

    (ii) The
      Mortgage Notes constitute “instruments” within the meaning of the NY
      UCC.

     

    (iii) Immediately
      prior to the assignment of each Mortgage Loan to the Trustee, the Depositor
      owns
      and has good and marketable title to such Mortgage Loan free and clear of any
      lien, claim or encumbrance of any Person. 

     

    (iv) The
      Depositor has received all consents and approvals required by the terms of
      the
      Mortgage Loans to the sale of the Mortgage Loans hereunder to the
      Trustee.

     

    (v) All
      original executed copies of each Mortgage Note that are required to be delivered
      to the Trustee pursuant to Section 2.01 have been delivered to the
      Trustee.

     

    (vi) Other
      than the security interest granted to the Trustee pursuant to this Agreement,
      the Depositor has not pledged, assigned, sold, granted a security interest
      in,
      or otherwise conveyed any of the Mortgage Loans. The Depositor has not
      authorized the filing of and is not aware of any financing statements against
      the Depositor that include a description of collateral covering the Mortgage
      Loans other than any financing statement relating to the security interest
      granted to the Trustee hereunder or that has been terminated. The Depositor
      is
      not aware of any judgment or tax lien filings against the
      Depositor.

     

    (c) The
      Master Servicer shall take such action as is reasonably necessary to maintain
      the perfection and priority of the security interest of the Trustee in the
      Mortgage Loans; provided, however, that the obligation to deliver the Mortgage
      File to the Trustee pursuant to Section 2.01 shall be solely the Depositor’s
      obligation and the Master Servicer shall not be responsible for the safekeeping
      of the Mortgage Files by the Trustee. 

     

    (d) It
      is
      understood and agreed that the representations and warranties set forth in
      subsection (b) above shall survive delivery of the Mortgage Files to the
      Trustee. Upon discovery by the Depositor or the Trustee of a breach of any
      of
      the foregoing representations and warranties set forth in subsection (b) above,
      which breach materially and adversely affects the interest of the
      Certificateholders, the party discovering such breach shall give prompt written
      notice to the others and to each Rating Agency.

     

    Section
      10.05 Notices.

     

    (a) The
      Trustee shall use its best efforts to promptly provide notice to each Rating
      Agency and the Swap Counterparty with respect to each of the following of which
      it has actual knowledge:

     

    (1) Any
      material change or amendment to this Agreement;

     

    (2) The
      occurrence of any Event of Default that has not been cured;

     

    (3) The
      resignation or termination of the Master Servicer or the Trustee and the
      appointment of any successor;

     

    (4) The
      repurchase or substitution of Mortgage Loans pursuant to Sections 2.02, 2.03,
      2.04 and 3.12; and

     

    (5) The
      final
      payment to Certificateholders.

     

    (b) In
      addition, the Trustee shall promptly furnish to each Rating Agency copies of
      the
      following:

     

    (1) Each
      report to Certificateholders described in Section 4.05;

     

    (2) Each
      annual statement as to compliance described in Section 3.17; and

     

    (3) Each
      annual independent public accountants’ servicing report described in Section
      11.07.

     

    (c) All
      directions, demands and notices hereunder shall be in writing and shall be
      deemed to have been duly given when sent by facsimile transmission, first class
      mail or delivered to (i) in the case of the Depositor, CWABS, Inc., 4500 Park
      Granada, Calabasas, California 91302, facsimile number: (818) 225-4053,
      Attention: David A. Spector, or such other address as may be hereafter furnished
      to the Sellers, the Master Servicer and the Trustee by the Depositor in writing;
      (ii) in the case of CHL, Countrywide Home Loans, Inc., 4500 Park Granada,
      Calabasas, California 91302, facsimile number (818) 225-4053, Attention: David
      A. Spector, or such other address as may be hereafter furnished to the
      Depositor, the Master Servicer and the Trustee by the Sellers in writing; (iii)
      in the case of Park Monaco, Park Monaco Inc., 4500 Park Granada, Calabasas,
      California 91302, facsimile number (818) 225-4028, Attention: Paul Liu, or
      such
      other address as may be hereafter furnished to the Depositor, the Master
      Servicer and the Trustee by the Sellers in writing; (iv) in the case of Park
      Sienna, Park Sienna LLC, 4500 Park Granada, Calabasas, California 91302,
      facsimile number (818) 225-4028, Attention: Paul Liu, or such other address
      as
      may be hereafter furnished to the Depositor, the Master Servicer and the Trustee
      by the Sellers in writing; (v) in the case of Park Granada, Park Granada LLC,
      4500 Park Granada, Calabasas, California 91302, facsimile number (818) 225-4028,
      Attention: Paul Liu, or such other address as may be hereafter furnished to
      the
      Depositor, the Master Servicer and the Trustee by the Sellers in writing; (vi)
      in the case of the Master Servicer, Countrywide Home Loans Servicing LP, 7105
      Corporate Drive, Plano, Texas 75024, facsimile number (805) 520-5623, Attention:
      Mark Wong or such other address as may be hereafter furnished to the Depositor,
      the Sellers and the Trustee by the Master Servicer in writing; (vii) in the
      case
      of the Trustee, The Bank of New York, 101 Barclay Street, New York, New York
      10286, Attention: Corporate Trust MBS Administration, CWABS, Series 2006-BC2,
      or
      such other address as the Trustee may hereafter furnish to the parties hereto;
      (viii) in the case of the Rating Agencies, (ix) Moody’s Investors Service, Inc.,
      Attention: ABS Monitoring Department, 99 Church Street, Sixth Floor, New York,
      New York 10007, and (y) Standard & Poor’s Ratings Services, a division of
      The McGraw-Hill Companies, Attention: Mortgage Surveillance Group, 55 Water
      Street, 41st
      Floor,
      New York, New York 10041; and (x) in the case of the Swap Counterparty, Bear
      Stearns Structured Products, Inc., 383 Madison Avenue, New York, 10179, or
      such
      other address as may be hereafter furnished by the Swap Counterparty. Notices
      to
      Certificateholders shall be deemed given when mailed, first postage prepaid,
      to
      their respective addresses appearing in the Certificate Register.

     

    Section
      10.06 Severability
      of Provisions.

     

    If
      any
      one or more of the covenants, agreements, provisions or terms of this Agreement
      shall be for any reason whatsoever 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
      10.07 Assignment.

     

    Notwithstanding
      anything to the contrary contained herein, except as provided pursuant to
      Section 6.02, this Agreement may not be assigned by the Master Servicer without
      the prior written consent of the Trustee and the Depositor.

     

    Section
      10.08 Limitation
      on Rights of Certificateholders.

     

    The
      death
      or incapacity of any Certificateholder shall not operate to terminate this
      Agreement or the Trust Fund, nor entitle such Certificateholder’s legal
      representative or heirs to claim an accounting or to take any action or commence
      any proceeding in any court for a petition or winding up of the Trust Fund,
      or
      otherwise affect the rights, obligations and liabilities of the parties hereto
      or any of them.

     

    No
      Certificateholder shall have any right to vote (except as provided herein)
      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 party 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 or by availing itself of any
      provisions 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 an Event
      of Default and of the continuance thereof, as hereinbefore provided, the Holders
      of Certificates evidencing not less than 25% of the Voting Rights shall also
      have made written request to 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 60
      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; it being
      understood and intended, and being expressly covenanted by each
      Certificateholder with every other Certificateholder and the Trustee, that
      no
      one or more Holders of Certificates shall have any right in any manner whatever
      by virtue or by availing itself or themselves of any provisions of this
      Agreement to affect, disturb or prejudice the rights of the Holders of any
      other
      of the Certificates, or to obtain or seek to obtain priority over or preference
      to any other such Holder or to enforce any right under this Agreement, except
      in
      the manner herein provided and for the common benefit of all Certificateholders.
      For the protection and enforcement of the provisions of this Section 10.08,
      each
      and every Certificateholder and the Trustee shall be entitled to such relief
      as
      can be given either at law or in equity.

     

    Section
      10.09 Inspection
      and Audit Rights.

     

    The
      Master Servicer agrees that, on reasonable prior notice, it will permit any
      representative of the Depositor, any Seller, the NIM Insurer or the Trustee
      during the Master Servicer’s normal business hours, to examine all the books of
      account, records, reports and other papers of the Master Servicer relating
      to
      the Mortgage Loans, to make copies and extracts therefrom, to cause such books
      to be audited by independent certified public accountants selected by the
      Depositor, a Seller, the NIM Insurer or the Trustee and to discuss its affairs,
      finances and accounts relating to the Mortgage Loans with its officers,
      employees and independent public accountants (and by this provision the Master
      Servicer hereby authorizes such accountants to discuss with such representative
      such affairs, finances and accounts), all at such reasonable times and as often
      as may be reasonably requested. Any out-of-pocket expense incident to the
      exercise by the Depositor, any Seller, the NIM Insurer or the Trustee of any
      right under this Section 10.09 shall be borne by the party requesting such
      inspection; all other such expenses shall be borne by the Master
      Servicer.

     

    Section
      10.10 Certificates
      Nonassessable and Fully Paid.

     

    It
      is the
      intention of the Depositor that Certificateholders shall not be personally
      liable for obligations of the Trust Fund, that the interests in the Trust Fund
      represented by the Certificates shall be nonassessable for any reason
      whatsoever, and that the Certificates, upon due authentication thereof by the
      Trustee pursuant to this Agreement, are and shall be deemed fully
      paid.

     

    Section
      10.11 Rights
      of NIM Insurer.

     

    (a) The
      rights of the NIM Insurer under this Agreement shall exist only so long as
      either:

     

    (1) the
      notes
      certain payments on which are guaranteed by the NIM Insurer remain outstanding
      or

     

    (2) the
      NIM
      Insurer is owed amounts paid by it with respect to that guaranty.

     

    (b) The
      rights of the NIM Insurer under this Agreement are exercisable by the NIM
      Insurer only so long as no default by the NIM Insurer under its guaranty of
      certain payments under notes backed or secured by the Class C or Class P
      Certificates has occurred and is continuing. If the NIM Insurer is the subject
      of any insolvency proceeding, the rights of the NIM Insurer under this Agreement
      will be exercisable by the NIM Insurer only so long as:

     

    (1) the
      obligations of the NIM Insurer under its guaranty of notes backed or secured
      by
      the Class C or Class P Certificates have not been disavowed and

     

    (2) CHL
      and
      the Trustee have received reasonable assurances that the NIM Insurer will be
      able to satisfy its obligations under its guaranty of notes backed or secured
      by
      the Class C or Class P Certificates.

     

    (c) The
      NIM
      Insurer is a third party beneficiary of this Agreement to the same extent as
      if
      it were a party to this Agreement and may enforce any of those rights under
      this
      Agreement.

     

    (d) A
      copy of
      any documents of any nature required by this Agreement to be delivered by the
      Trustee, or to the Trustee or the Rating Agencies, shall in each case at the
      same time also be delivered to the NIM Insurer. Any notices required to be
      given
      by the Trustee, or to the Trustee or the Rating Agencies, shall in each case
      at
      the same time also be given to the NIM Insurer. If the Trustee receives a notice
      or document that is required hereunder to be delivered to the NIM Insurer,
      and
      if such notice or document does not indicate that a copy thereof has been
      previously sent to the NIM Insurer, the Trustee shall send the NIM Insurer
      a
      copy of such notice or document. If such document is an Opinion of Counsel,
      the
      NIM Insurer shall be an addressee thereof or such Opinion of Counsel shall
      contain language permitting the NIM Insurer to rely thereon as if the NIM
      Insurer were an addressee thereof.

     

    (e) Anything
      in this Agreement that is conditioned on not resulting in the downgrading or
      withdrawal of the ratings then assigned to the Certificates by the Rating
      Agencies shall also be conditioned on not resulting in the downgrading or
      withdrawal of the ratings then assigned by the Rating Agencies to the notes
      backed or secured by the Class C or Class P Certificates (without giving effect
      to any policy or guaranty provided by the NIM Insurer).

     

    

     

    
      
        
          

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    ARTICLE
      XI.

     

    EXCHANGE
      ACT REPORTING

     

    Section
      11.01 Filing
      Obligations.

     

    The
      Master Servicer, the Trustee and each Seller shall reasonably cooperate with
      the
      Depositor in connection with the satisfaction of the Depositor’s reporting
      requirements under the Exchange Act with respect to the Trust Fund. In addition
      to the information specified below, if so requested by the Depositor for the
      purpose of satisfying its reporting obligation under the Exchange Act, the
      Master Servicer, the Trustee and each Seller shall (and the Master Servicer
      shall cause each Subservicer to) provide the Depositor with (a) such information
      which is available to such Person without unreasonable effort or expense and
      within such timeframe as may be reasonably requested by the Depositor to comply
      with the Depositor’s reporting obligations under the Exchange Act and (b) to the
      extent such Person is a party (and the Depositor is not a party) to any
      agreement or amendment required to be filed, copies of such agreement or
      amendment in EDGAR-compatible form. 

     

    Section
      11.02 Form
      10-D Filings.

     

    (a) In
      accordance with the Exchange Act, the Trustee shall prepare for filing and
      file
      within 15 days after each Distribution Date (subject to permitted extensions
      under the Exchange Act) with the Commission with respect to the Trust Fund,
      a
      Form 10-D with copies of the Monthly Statement and, to the extent delivered
      to
      the Trustee, no later than 10 days following the Distribution Date, such other
      information identified by the Depositor or the Master Servicer, in writing,
      to
      be filed with the Commission (such other information, the “Additional Designated
      Information”). If the Depositor or Master Servicer directs that any Additional
      Designated Information is to be filed with any Form 10-D, the Depositor or
      Master Servicer, as the case may be, shall specify the Item on Form 10-D to
      which such information is responsive and, with respect to any Exhibit to be
      filed on Form 10-D, the Exhibit number. Any information to be filed on Form
      10-D
      shall be delivered to the Trustee in EDGAR-compatible form or as otherwise
      agreed upon by the Trustee and the Depositor or the Master Servicer, as the
      case
      may be, at the Depositor’s expense, and any necessary conversion to
      EDGAR-compatible format will be at the Depositor’s expense. At the reasonable
      request of, and in accordance with the reasonable directions of, the Depositor
      or the Master Servicer, subject to the two preceding sentences, the Trustee
      shall prepare for filing and file an amendment to any Form 10-D previously
      filed
      with the Commission with respect to the Trust Fund. The Master Servicer shall
      sign the Form 10-D filed on behalf of the Trust Fund.

     

    (b) No
      later
      than each Distribution Date, each of the Master Servicer and the Trustee shall
      notify (and the Master Servicer shall cause any Subservicer to notify) the
      Depositor and the Master Servicer of any Form 10-D Disclosure Item, together
      with a description of any such Form 10-D Disclosure Item in form and substance
      reasonably acceptable to the Depositor. In addition to such information as
      the
      Master Servicer and the Trustee are obligated to provide pursuant to other
      provisions of this Agreement, if so requested by the Depositor, each of the
      Master Servicer and the Trustee shall provide such information which is
      available to the Master Servicer and the Trustee, as applicable, without
      unreasonable effort or expense regarding the performance or servicing of the
      Mortgage Loans (in the case of the Trustee, based on the information provided
      by
      the Master Servicer) as is reasonably required to facilitate preparation of
      distribution reports in accordance with Item 1121 of Regulation AB. Such
      information shall be provided concurrently with the Remittance Reports in the
      case of the Master Servicer and the Monthly Statement in the case of the
      Trustee, commencing with the first such report due not less than five Business
      Days following such request. 

     

    (c) The
      Trustee shall not have any responsibility to file any items (other than those
      generated by it) that have not been received in a format suitable (or readily
      convertible into a format suitable) for electronic filing via the EDGAR system
      and shall not have any responsibility to convert any such items to such format
      (other than those items generated by it or that are readily convertible to
      such
      format). The Trustee shall have no liability to the Certificateholders, the
      Trust Fund, the Master Servicer, the Depositor or the NIM Insurer with respect
      to any failure to properly prepare or file any of Form 10-D to the extent that
      such failure is not the result of any negligence, bad faith or willful
      misconduct on its part. 

     

    Section
      11.03 Form
      8-K Filings.

     

    The
      Master Servicer shall prepare and file on behalf of the Trust Fund any Form
      8-K
      required by the Exchange Act. Each Form 8-K must be signed by the Master
      Servicer. Each of the Master Servicer (and the Master Servicer shall cause
      any
      Subservicer to promptly notify) and the Trustee shall promptly notify the
      Depositor and the Master Servicer (if the notifying party is not the Master
      Servicer), but in no event later than one (1) Business Day after its occurrence,
      of any Reportable Event of which it has actual knowledge. Each Person shall
      be
      deemed to have actual knowledge of any such event to the extent that it relates
      to such Person or any action or failure to act by such Person. Concurrently
      with
      any Subsequent Transfer, CHL shall notify the Depositor and the Master Servicer,
      if any material pool characteristic of the actual asset pool at the time of
      issuance of the Certificates differs by 5% or more (other than as a result
      of
      the pool assets converting into cash in accordance with their terms) from the
      description of the asset pool in the Prospectus Supplement.

     

    Section
      11.04 Form
      10-K Filings.

     

    Prior
      to
      March 30th of each year, commencing in 2007 (or such earlier date as may be
      required by the Exchange Act), the Depositor shall prepare and file on behalf
      of
      the Trust Fund a Form 10-K, in form and substance as required by the Exchange
      Act. A senior officer in charge of the servicing function of the Master Servicer
      shall sign each Form 10-K filed on behalf of the Trust Fund. Such Form 10-K
      shall include as exhibits each (i) annual compliance statement described under
      Section 3.17, (ii) annual report on assessments of compliance with servicing
      criteria described under Section 11.07 and (iii) accountant’s report described
      under Section 11.07. Each Form 10-K shall also include any Sarbanes-Oxley
      Certification required to be included therewith, as described in Section 11.05.
      

     

    If
      the
      Item 1119 Parties listed on Exhibit Z have changed since the Closing Date,
      no
      later than March 1 of each year, the Master Servicer shall provide each of
      the
      Master Servicer (and the Master Servicer shall provide any Subservicer) and
      the
      Trustee with an updated Exhibit Z setting forth the Item 1119 Parties. No later
      than March 15 of each year, commencing in 2007, the Master Servicer and the
      Trustee shall notify (and the Master Servicer shall cause any Subservicer to
      notify) the Depositor and the Master Servicer of any Form 10-K Disclosure Item,
      together with a description of any such Form 10-K Disclosure Item in form and
      substance reasonably acceptable to the Depositor. Additionally, each of the
      Master Servicer and the Trustee shall provide, and shall cause each Reporting
      Subcontractor retained by the Master Servicer or the Trustee, as applicable,
      and
      in the case of the Master Servicer shall cause each Subservicer, to provide,
      the
      following information no later than March 15 of each year in which a Form 10-K
      is required to be filed on behalf of the Trust Fund: (i) if such Person’s report
      on assessment of compliance with servicing criteria described under Section
      11.07 or related registered public accounting firm attestation report described
      under Section 11.07 identifies any material instance of noncompliance,
      notification of such instance of noncompliance and (ii) if any such Person’s
      report on assessment of compliance with servicing criteria or related registered
      public accounting firm attestation report is not provided to be filed as an
      exhibit to such Form 10-K, information detailing the explanation why such report
      is not included. 

     

    Section
      11.05 Sarbanes-Oxley
      Certification.

     

    Each
      Form
      10-K shall include a certification (the “Sarbanes-Oxley
      Certification”)
      required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act (pursuant
      to
      Section 302 of 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)). No later than March 15 of each year, beginning in
      2007, the Master Servicer and the Trustee shall (unless such person is the
      Certifying Person), and the Master Servicer shall cause each Subservicer and
      each Reporting Subcontractor and the Trustee shall cause each Reporting
      Subcontractor to, provide to the Person who signs the Sarbanes-Oxley
      Certification (the “Certifying
      Person”)
      a
      certification (each, a “Performance
      Certification”),
      in
      the form attached hereto as Exhibit X-1 (in the case of a Subservicer or any
      Reporting Subcontractor of the Master Servicer or a Subservicer) and Exhibit
      X-2
      (in the case of the Trustee or any Reporting Subcontractor of the Trustee),
      on
      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. The senior officer in charge of the servicing function of
      the
      Master Servicer shall serve as the Certifying Person on behalf of the Trust
      Fund. Neither the Master Servicer nor the Depositor will request delivery of
      a
      certification under this clause unless the Depositor is required under the
      Exchange Act to file an annual report on Form 10-K with respect to the Trust
      Fund. In the event that prior to the filing date of the Form 10-K in March
      of
      each year, the Trustee or the Depositor has actual knowledge of information
      material to the Sarbanes-Oxley Certification, the Trustee or the Depositor,
      as
      the case may be, shall promptly notify the Master Servicer and the Depositor.
      The respective parties hereto agree to cooperate with all reasonable requests
      made by any Certifying Person or Certification Party in connection with such
      Person’s attempt to conduct any due diligence that such Person reasonably
      believes to be appropriate in order to allow it to deliver any Sarbanes-Oxley
      Certification or portion thereof with respect to the Trust Fund.

    

     

    Section
      11.06 Form
      15 Filing.

     

    Prior
      to
      January 30 of the first year in which the Depositor is able to do so under
      applicable law, the Depositor shall file a Form 15 relating to the automatic
      suspension of reporting in respect of the Trust Fund under the Exchange
      Act.

     

    Section
      11.07 Report
      on Assessment of Compliance and Attestation.

     

    (a) On
      or
      before March 15 of each calendar year, commencing in 2007:

     

    (1) Each
      of
      the Master Servicer and the Trustee shall deliver to the Depositor and the
      Master Servicer a report (in form and substance reasonably satisfactory to
      the
      Depositor) regarding the Master Servicer’s or the Trustee’s, as applicable,
      assessment of compliance with the Servicing Criteria during the immediately
      preceding calendar year, as required under Rules 13a-18 and 15d-18 of the
      Exchange Act and Item 1122 of Regulation AB. Such report shall be signed by
      an
      authorized officer of such Person and shall address each of the Servicing
      Criteria specified on a certification substantially in the form of Exhibit
      Y
      hereto
      delivered to the Depositor concurrently with the execution of this Agreement.
      To
      the extent any of the Servicing Criteria are not applicable to such Person,
      with
      respect to asset-backed securities transactions taken as a whole involving
      such
      Person and that are backed by the same asset type backing the Certificates,
      such
      report shall include such a statement to that effect. The Depositor and the
      Master Servicer, and each of their respective officers and directors shall
      be
      entitled to rely on upon each such servicing criteria assessment.

     

    (2) Each
      of
      the Master Servicer and the Trustee shall deliver to the Depositor and the
      Master Servicer a report of a registered public accounting firm reasonably
      acceptable to the Depositor that attests to, and reports on, the assessment
      of
      compliance made by Master Servicer or the Trustee, as applicable, and delivered
      pursuant to the preceding paragraphs. Such attestation shall be in accordance
      with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act
      and
      the Exchange Act, including, without limitation that 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. To the extent any of the Servicing Criteria are not applicable to
      such
      Person, with respect to asset-backed securities transactions taken as a whole
      involving such Person and that are backed by the same asset type backing the
      Certificates, such report shall include such a statement that that
      effect.

     

    (3) The
      Master Servicer shall cause each Subservicer and each Reporting Subcontractor
      to
      deliver to the Depositor an assessment of compliance and accountant’s
      attestation as and when provided in paragraphs (a) and (b) of this Section
      11.07. 

     

    (4) The
      Trustee shall cause each Reporting Subcontractor to deliver to the Depositor
      and
      the Master Servicer an assessment of compliance and accountant’s attestation as
      and when provided in paragraphs (a) and (b) of this Section.

     

    (5) The
      Master Servicer and the Trustee shall execute (and the Master Servicer shall
      cause each Subservicer to execute, and the Master Servicer and the Trustee
      shall
      cause each Reporting Subcontractor to execute) a reliance certificate to enable
      the Certification Parties to rely upon each (i) annual compliance statement
      provided pursuant to Section 3.17, (ii) annual report on assessments of
      compliance with servicing criteria provided pursuant to this Section 11.07
      and
      (iii) accountant’s report provided pursuant to this Section 11.07 and shall
      include a certification that each such annual compliance statement or report
      discloses any deficiencies or defaults described to the registered public
      accountants of such Person to enable such accountants to render the certificates
      provided for in this Section 11.07. 

     

    (b) In
      the
      event the Master Servicer, any Subservicer, the Trustee or Reporting
      Subcontractor is terminated or resigns during the term of this Agreement, such
      Person shall provide documents and information required by this Section 11.07
      with respect to the period of time it was subject to this Agreement or provided
      services with respect to the Trust Fund, the Certificates or the Mortgage
      Loans.

     

    (c) Each
      assessment of compliance provided by a Subservicer pursuant to Section
      11.07(a)(3) shall address each of the Servicing Criteria specified on a
      certification substantially in the form of Exhibit Y hereto delivered to the
      Depositor concurrently with the execution of this Agreement or, in the case
      of a
      Subservicer subsequently appointed as such, on or prior to the date of such
      appointment. An assessment of compliance provided by a Subcontractor pursuant
      to
      Section 11.07(a)(3) or (4) need not address any elements of the Servicing
      Criteria other than those specified by the Master Servicer or the Trustee,
      as
      applicable, pursuant to Section 11.07(a)(1).

     

    Section
      11.08 Use
      of
      Subservicers and Subcontractors.

     

    (a) The
      Master Servicer shall cause any Subservicer used by the Master Servicer (or
      by
      any Subservicer) for the benefit of the Depositor to comply with the provisions
      of Section 3.17 and this Article XI to the same extent as if such Subservicer
      were the Master Servicer (except with respect to the Master Servicer’s duties
      with respect to preparing and filing any Exchange Act Reports or as the
      Certifying Person). The Master Servicer shall be responsible for obtaining
      from
      each Subservicer and delivering to the Depositor any servicer compliance
      statement required to be delivered by such Subservicer under Section 3.17,
      any
      assessment of compliance and attestation required to be delivered by such
      Subservicer under Section 11.07 and any certification required to be delivered
      to the Certifying Person under Section 11.05 as and when required to be
      delivered. As
      a condition to the succession to any Subservicer as subservicer under this
      Agreement by any Person (i) into which such Subservicer may be merged or
      consolidated, or (ii) which may be appointed as a successor to any Subservicer,
      the Master Servicer shall provide to the Depositor, at least 15 calendar days
      prior to the effective date of such succession or appointment, (x) written
      notice to the Depositor of such succession or appointment and (y) in writing
      and
      in form and substance reasonably satisfactory to the Depositor, all information
      reasonably requested by the Depositor in order to comply with its reporting
      obligation under Item 6.02 of Form 8-K.

     

    (b) It
      shall
      not be necessary for the Master Servicer, any Subservicer or the Trustee to
      seek
      the consent of the Depositor or any other party hereto to the utilization of
      any
      Subcontractor. The Master Servicer or the Trustee, as applicable, shall promptly
      upon request provide to the Depositor (or any designee of the Depositor, such
      as
      the Master Servicer or administrator) a written description (in form and
      substance satisfactory to the Depositor) of the role and function of each
      Subcontractor utilized by such Person (or in the case of the Master Servicer,
      any Subservicer), specifying (i) the identity of each such Subcontractor, (ii)
      which (if any) of such Subcontractors are “participating in the servicing
      function” within the meaning of Item 1122 of Regulation AB, and (iii) which
      elements of the Servicing Criteria will be addressed in assessments of
      compliance provided by each Subcontractor identified pursuant to clause (ii)
      of
      this paragraph.

     

    As
      a
      condition to the utilization of any Subcontractor determined to be a Reporting
      Subcontractor, the Master Servicer or the Trustee, as applicable, shall cause
      any such Subcontractor used by such Person (or in the case of the Master
      Servicer, any Subservicer) for the benefit of the Depositor to comply with
      the
      provisions of Sections 11.07 and 11.09 of this Agreement to the same extent
      as
      if such Subcontractor were the Master Servicer (except with respect to the
      Master Servicer’s duties with respect to preparing and filing any Exchange Act
      Reports or as the Certifying Person) or the Trustee, as applicable. The Master
      Servicer or the Trustee, as applicable, shall be responsible for obtaining
      from
      each Subcontractor and delivering to the Depositor and the Master Servicer,
      any
      assessment of compliance and attestation required to be delivered by such
      Subcontractor under Section 11.05 and Section 11.07, in each case as and when
      required to be delivered.

     

    Section
      11.09 Amendments.

     

    In
      the
      event the parties to this Agreement desire to further clarify or amend any
      provision of this Article XI, this Agreement shall be amended to reflect the
      new
      agreement between the parties covering matters in this Article XI pursuant
      to
      Section 10.01, which amendment shall not require any Opinion of Counsel or
      Rating Agency confirmations or the consent of any Certificateholder or the
      NIM
      Insurer. 

     

    If,
      during the period that the Depositor is required to file Exchange Act Reports
      with respect to the Trust Fund, the Master Servicer is no longer an Affiliate
      of
      the Depositor, the Depositor shall assume the obligations and responsibilities
      of the Master Servicer in this Article XI with respect to the preparation and
      filing of the Exchange Act Reports and/or acting as the Certifying Person,
      if
      the Depositor has received indemnity from such successor Master Servicer
      satisfactory to the Depositor, and such Master Servicer has agreed to provide
      a
      Sarbanes-Oxley Certification to the Depositor substantially in the form of
      Exhibit AA and the certifications referred to in Section 11.07.

     

    Section
      11.10 Reconciliation
      of Accounts. 

     

    Any
      reconciliation of Accounts performed by any party hereto, or any Subservicer
      or
      Subcontractor shall be prepared no later than 45 calendar days after the bank
      statement cutoff date.

     

    

     

    
      
        
           

          

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

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

     

     

    

      
        	 	
                CWABS,
                  INC.,

                as
                  Depositor

              
	 	 	 
	 	
                By:

              	/s/
Ruben
                Avilez
	 	
                Name:

              	Ruben
                Avilez
	 	
                Title:

              	Vice
                President

      

      

        
          	 	
                  
                    COUNTRYWIDE
                      HOME LOANS SERVICING LP,

                     

                    as
                      Master Servicer

                  

                
	 	 
	 	
                  By:
                    COUNTRYWIDE GP, INC.

                
	 	 	 
	 	
                  By:

                	/s/
Ruben
                  Avilez
	 	
                  Name:

                	Ruben
                  Avilez
	 	
                  Title:

                	Vice
                  President

        

        

          
            	 	
                    
                      
                        THE
                          BANK OF NEW YORK,

                         

                        as
                          Trustee

                      

                    

                  
	 	 
	 	 	 
	 	
                    By:

                  	/s/
Cirino
                    Emanuele
	 	
                    Name:

                  	Cirino
                    Emanuele
	 	
                    Title:

                  	Assistant
                    Vice
                    President

          

          

            
              	 	
                      
                        
                          
                            COUNTRYWIDE
                              HOME LOANS, INC.,

                             

                            as
                              a Seller

                          

                        

                      

                    
	 	 
	 	 	 
	 	
                      By:

                    	/s/
Ruben
                      Avilez
	 	
                      Name:

                    	Ruben
                      Avilez
	 	
                      Title:

                    	Vice
                      President

            

            

              
                	 	
                        
                          
                            
                              
                                PARK
                                  MONACO INC.,

                                 

                                as
                                  a Seller

                              

                            

                          

                        

                      
	 	 
	 	 	 
	 	
                        By:

                      	/s/
Ruben
                        Avilez
	 	
                        Name:

                      	Ruben
                        Avilez
	 	
                        Title:

                      	Vice
                        President

              

              

              
                
                  
                    
                    

                  

                  
                    
                    

                    
                      

                    

                  

                  
                    
                    

                  

                

              

               

              
                	 	
                        
                          
                            
                              
                                
                                  PARK
                                    SIENNA LLC,

                                   

                                  as
                                    a Seller

                                

                              

                            

                          

                        

                      
	 	 
	 	 	 
	 	
                        By:

                      	/s/
Ruben
                        Avilez
	 	
                        Name:

                      	Ruben
                        Avilez
	 	
                        Title:

                      	Assistant
                        Vice
                        President

              

              

            

          

        

      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
       

      
        	 	
                
                  
                    
                      
                        
                          
                            PARK
                              GRANADA LLC,

                          

                           

                          as
                            a Seller

                        

                      

                    

                  

                

              
	 	 
	 	 	 
	 	
                By:

              	/s/
Ruben
                Avilez
	 	
                Name:

              	Ruben
                Avilez
	 	
                Title:

              	Assistant
                Vice
                President

      

      
 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
       

      
        	 	
                
                  
                    
                      
                        
                          
                            
                              THE
                                BANK OF NEW YORK

                               

                              (solely
                                with respect to its obligations under Section
                                4.01(d))

                            

                          

                        

                      

                    

                  

                

              
	 	 
	 	 	 
	 	
                By:

              	/s/
Paul
                Connolly
	 	
                Name:

              	Paul
                Connolly
	 	
                Title:

              	Vice
                President

      

      
 

    

    
      
        
          

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    

      
        	
                STATE
                  OF CALIFORNIA

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF LOS ANGELES 

              	
                )

              	 

      

     

    On
      this
      ____ day of May, 2006, before me, a notary public in and for said State,
      appeared Ruben Avilez, personally known to me on the basis of satisfactory
      evidence to be a Vice President of Countrywide Home Loans, Inc., one of the
      corporations that executed the within instrument, and also known to me to be
      the
      person who executed it on behalf of such 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/
                  Glenda J. Daniel

              
	 	
                Notary
                  Public

              

      

    

     

     

    [Notarial
      Seal]

     

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
      	
              STATE
                OF CALIFORNIA

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF LOS ANGELES 

            	
              )

            	 

    

    
 

    On
      this
      ____ day of May, 2006, before me, a notary public in and for said State,
      appeared Ruben Avilez, personally known to me on the basis of satisfactory
      evidence to be a Vice President of Countrywide GP, Inc., the parent company
      of
      Countrywide Home Loans Servicing LP, one of the organizations that executed
      the
      within instrument, and also known to me to be the person who executed it on
      behalf of such limited partnership and acknowledged to me that such limited
      partnership 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/
                    Glenda J. Daniel

                
	 	
                  Notary
                    Public

                

        

         

      

    

    [Notarial
      Seal]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      

      
        	
                STATE
                  OF CALIFORNIA

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF LOS ANGELES 

              	
                )

              	 

      

      

 

      On
        this
        ____ day of May, 2006, before me, a notary public in and for said State,
        appeared Ruben Avilez, personally known to me on the basis of satisfactory
        evidence to be a Vice President of CWABS, Inc., one of the corporations that
        executed the within instrument, and also known to me to be the person who
        executed it on behalf of such 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/
                    Glenda J. Daniel

                
	 	
                  Notary
                    Public

                

        

         

      
[Notarial
      Seal]

     

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    
      

      
        	
                STATE
                  OF CALIFORNIA

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF LOS ANGELES 

              	
                )

              	 

      

      
On
        this
        ____ day of May, 2006, before me, a notary public in and for said State,
        appeared Ruben Avilez, personally known to me on the basis of satisfactory
        evidence to be a Vice President of Park Monaco Inc., one of the corporations
        that executed the within instrument, and also known to me to be the person
        who
        executed it on behalf of such 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/
                  Glenda J. Daniel

              
	 	
                Notary
                  Public

              

      

       

    

     

    [Notarial
      Seal]

     

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                STATE
                  OF CALIFORNIA

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF LOS ANGELES 

              	
                )

              	 

      

      

    

    On
      this
      ____ day of May, 2006, before me, a notary public in and for said State,
      appeared Ruben Avilez, personally known to me on the basis of satisfactory
      evidence to be an Assistant Vice President of Park Sienna LLC, one of the
      entities that executed the within instrument, and also known to me to be the
      person who executed it on behalf of such 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/
                    Glenda J. Daniel

                
	 	
                  Notary
                    Public

                

        

         

      

    

    [Notarial
      Seal]

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      

      
        	
                STATE
                  OF CALIFORNIA

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF LOS ANGELES 

              	
                )

              	 

      

      
 

      On
        this
        ____ day of May, 2006, before me, a notary public in and for said State,
        appeared Ruben Avilez, personally known to me on the basis of satisfactory
        evidence to be an Assistant Vice President of Park Granada LLC, one of the
        entities that executed the within instrument, and also known to me to be
        the
        person who executed it on behalf of such 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/
                    Glenda J. Daniel

                
	 	
                  Notary
                    Public

                

        

         

      

    

    [Notarial
      Seal]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      

      
        	
                STATE
                  OF NEW YORK

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF NEW YORK

              	
                )

              	 

      

      

    

    On
      this
      ____ day of May, 2006 before me, a notary public in and for said State, appeared
      _________________, personally known to me on the basis of satisfactory evidence
      to be a ____________ of The Bank of New York, a New York banking corporation
      that executed the within instrument, and also known to me to be the person
      who
      executed it on behalf of such 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.

     

    
      

        
          	 	
                   

                
	 	
                  Notary
                    Public

                

        

         

      

    

     

    [Notarial
      Seal]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     
      

      
        	
                STATE
                  OF NEW YORK

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF NEW YORK

              	
                )

              	 

      

      
 

      On
        this
        ____ day of May, 2006 before me, a notary public in and for said State, appeared
        ______________, personally known to me on the basis of satisfactory evidence
        to
        be a _____________ of The Bank of New York, a New York banking corporation
        that
        executed the within instrument, and also known to me to be the person who
        executed it on behalf of such 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.

     

    
      

        
          	 	
                   

                
	 	
                  Notary
                    Public

                

        

         

      

    

     

    [Notarial
      Seal]

    

     

    
      
        
          

          

          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Exhibits
      A-1

    through
      A-14

     

    [Exhibits
      A-1 through A-14 are

    photocopies
      of such Certificates as delivered.]

     

    [See
      appropriate documents delivered at closing.]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Exhibit
      B

     

    Exhibit
      B
      is a photocopy

    of
      the
      Class P Certificates

    as
      delivered.

     

     

    [See
      appropriate document delivered at closing.]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Exhibit
      C

     

    Exhibit
      C
      is a photocopy

    of
      the
      Class C Certificates

    as
      delivered.

     

    [See
      appropriate document delivered at closing.]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Exhibit
      D

     

    Exhibit
      D
      is a photocopy

    of
      the
      Class A-R Certificate

    as
      delivered.

     

     

    [See
      appropriate documents delivered at closing.]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Exhibit
      E

     

    Exhibit
      E
      is a photocopy

    of
      the
      Tax Matters Person Certificate

    as
      delivered.

     

    [See
      appropriate documents delivered at closing.]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Exhibit
      F-1 and F-2

     

    [Exhibits
      F-1 and F-2 are schedules of Mortgage Loans]

     

    [Delivered
      to Trustee at closing and on file with the Trustee.]

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      G-1

     

    FORM
      OF
      INITIAL CERTIFICATION OF TRUSTEE

     

    

     

    [Date]

     

    [Depositor]

    

    [Sellers]

    

    [Master
      Servicer]

    

    

    

     

    Re:CWABS
      Asset-Backed Certificates, Series 2006-BC2

     

    Gentlemen:

     

    In
      accordance with Section 2.02 of the Pooling and Servicing Agreement dated as
      of
      May 1, 2006 (the “Pooling and Servicing Agreement”) among
      CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller, Park
      Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as
      a
      Seller, Countrywide Home Loans Servicing LP, as Master Servicer, and the
      undersigned, as Trustee,
      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 in the attached list of exceptions) the Trustee has
      received:

     

    (i) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of ______________, without recourse”, or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note;
      and

     

    (ii) a
      duly
      executed assignment of the Mortgage or a copy of such assignment, in either
      case
      in the form permitted by Section 2.01 of the Pooling and Servicing
      Agreement.

     

    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.

     

    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.

     

    The
      Bank
      of New York,

    as
      Trustee

     

     

    By: ______________________________________________

    Name:

    Title:

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      G-2

     

    FORM
      OF
      INTERIM CERTIFICATION OF TRUSTEE

     

    [Date]

     

    [Depositor]

    

    [Sellers]

    

    [Master
      Servicer]

    

    

     

    Re:    CWABS
      Asset-Backed Certificates, Series 2006-BC2

     

    Gentlemen:

     

    In
      accordance with Section 2.02 of the Pooling and Servicing Agreement dated as
      of
      May 1, 2006 (the “Pooling and Servicing Agreement”) among CWABS, Inc., as
      Depositor, Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as
      a
      Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as a Seller, Countrywide
      Home Loans Servicing LP, as Master Servicer, and the undersigned, as Trustee,
      hereby certifies that [, with respect to the Subsequent Mortgage Loans delivered
      in connection with the Subsequent Transfer Agreement, dated as of __________
      (the “Subsequent Transfer Agreement”) among CWABS, Inc., as Depositor,
      Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as a Seller, Park
      Sienna LLC, as a Seller and The Bank of New York, as Trustee], except as listed
      in the following paragraph, as to each [Initial Mortgage Loan][Subsequent
      Mortgage Loan] listed in the [Mortgage Loan Schedule][Loan Number and Borrower
      Identification Mortgage Loan Schedule] (other than any [Mortgage Loan][Loan
      Number and Borrower Identification Mortgage Loan Schedule] paid in full or
      listed on the attached list of exceptions) the Trustee has
      received:

     

    (i) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of _______________ without recourse”, with
      all intervening endorsements that show a complete chain of endorsement from
      the
      originator to the Person endorsing the Mortgage Note (each such endorsement
      being sufficient to transfer all right, title and interest of the party so
      endorsing, as noteholder or assignee thereof, in and to that Mortgage Note),
      or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note and all such
      intervening endorsements; 

     

    (ii) the
      case
      of each [Initial Mortgage Loan][Subsequent Mortgage Loan] that is not a MERS
      Mortgage Loan, the original recorded Mortgage or a copy of such Mortgage, with
      recording information, and in the case of each [Initial Mortgage
      Loan][Subsequent Mortgage Loan] that is a MERS Mortgage Loan, the original
      Mortgage or a copy of such Mortgage, with recording information, noting thereon
      the presence of the MIN of the [Initial Mortgage Loan][Subsequent Mortgage
      Loan]
      and language indicating that the [Initial Mortgage Loan][Subsequent Mortgage
      Loan] is a MOM Loan if the [Initial Mortgage Loan][Subsequent Mortgage Loan]
      is
      a MOM Loan, with evidence of recording indicated thereon, or a copy of the
      Mortgage certified by the public recording office in which such Mortgage has
      been recorded;

     

    (iii) the
      case
      of each [Initial Mortgage Loan][Subsequent Mortgage Loan] that is not a MERS
      Mortgage Loan, a duly executed assignment of the Mortgage to “Asset-Backed
      Certificates, Series 2006-BC2, CWABS, Inc., by The Bank of New York, a New
      York
      banking corporation, as trustee under the Pooling and Servicing Agreement dated
      as of May 1, 2006, without recourse” or a copy of such assignment, with
      recording information, or, in the case of each [Initial Mortgage
      Loan][Subsequent Mortgage Loan] with respect to property located in the State
      of
      California that is not a MERS Mortgage Loan, a duly executed assignment of
      the
      Mortgage in blank (each such assignment, when duly and validly completed, to
      be
      in recordable form and sufficient to effect the assignment of and transfer
      to
      the assignee thereof, under the Mortgage to which such assignment
      relates);

     

    (iv) the
      original recorded assignment or assignments of the Mortgage or a copy of such
      assignments, with recording information, together with all interim recorded
      assignments of such Mortgage or a copy of such assignments, with recording
      information (in each case noting the presence of a MIN in the case of each
      MERS
      Mortgage Loan);

     

    (v) the
      original or copies of each assumption, modification, written assurance or
      substitution agreement, if any; and

     

    (vi) the
      original or duplicate original lender’s title policy or a copy of lender’s title
      policy or a printout of the electronic equivalent and all riders thereto or,
      in
      the event such original title policy has not been received from the insurer,
      any
      one of an original title binder, an original preliminary title report or an
      original title commitment, or a copy thereof certified by the title company,
      with the original policy of title insurance to be delivered within one year
      of
      the Closing Date. 

     

    In
      the
      event that in connection with any [Initial Mortgage Loan][Subsequent Mortgage
      Loan] that is not a MERS Mortgage Loan the applicable Seller cannot deliver
      the
      original recorded Mortgage or all interim recorded assignments of the Mortgage
      satisfying the requirements of clause (ii), (iii) or (iv), as applicable, the
      Trustee has received, in lieu thereof, a true and complete copy of such Mortgage
      and/or such assignment or assignments of the Mortgage, as applicable, each
      certified by the applicable Seller, the applicable title company, escrow agent
      or attorney, or the originator of such [Initial Mortgage Loan][Subsequent
      Mortgage Loan], as the case may be, to be a true and complete copy of the
      original Mortgage or assignment of Mortgage submitted for
      recording.

     

    Based
      on
      its review and examination and only as to the foregoing documents, (i) such
      documents appear regular on their face and related to such [Initial Mortgage
      Loan][Subsequent Mortgage Loan], and (ii) the information set forth in items
      (i), (iv), (v), (vi), (viii), (ix) and (xv) 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 [Initial Mortgage
      Loans][Subsequent Mortgage Loans] identified on the [Mortgage Loan
      Schedule][Loan Number and Borrower Identification 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.

     

    The
      Bank
      of New York,

    as
      Trustee

    

     

    By: ___________________________________________

    Name:

    Title:

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      G-3

     

    FORM
      OF
      DELAY DELIVERY CERTIFICATION

     

    [Date]

     

    [Depositor]

    

    [Sellers]

    

    [Master
      Servicer]

    

    

     

    Re:    CWABS
      Asset-Backed Certificates, Series 2006-BC2

     

    Gentlemen:

     

    [Reference
      is made to the Initial Certification of Trustee relating to the above-referenced
      series, with the schedule of exceptions attached thereto, delivered by the
      undersigned, as Trustee, on the Closing Date in accordance with Section 2.02
      of
      the Pooling and Servicing Agreement dated as of May 1, 2006 (the “Pooling and
      Servicing Agreement”) among CWABS, Inc., as Depositor, Countrywide Home Loans,
      Inc., as a Seller, Park Monaco Inc., as a Seller, Park Sienna LLC, as a Seller,
      Park Granada LLC, as a Seller, Countrywide Home Loans Servicing LP, as Master
      Servicer, and the undersigned, as Trustee.] The undersigned hereby certifies
      that [, with respect to the Subsequent Mortgage Loans delivered in connection
      with the Subsequent Transfer Agreement, dated as of __________ (the “Subsequent
      Transfer Agreement”) among CWABS, Inc., as Depositor, Countrywide Home Loans,
      Inc., as a Seller, Park Monaco Inc., as a Seller, Park Sienna LLC, as a Seller,
      Park Granada LLC, as a Seller, Countrywide Home Loans Servicing LP, as Master
      Servicer, and The Bank of New York, as Trustee,,] as to each Delay Delivery
      Mortgage Loan listed on the Schedule A attached hereto (other than any [Initial
      Mortgage Loan][Subsequent Mortgage Loan] paid in full or listed on Schedule
      B
      attached hereto) the Trustee has received:

     

    (1) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of _______________ without recourse”, with
      all intervening endorsements that show a complete chain of endorsement from
      the
      originator to the Person endorsing the Mortgage Note (each such endorsement
      being sufficient to transfer all right, title and interest of the party so
      endorsing, as noteholder or assignee thereof, in and to that Mortgage Note),
      or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note and all such
      intervening endorsements; 

     

    (2) in
      the
      case of each [Initial Mortgage Loan][Subsequent Mortgage Loan] that is not
      a
      MERS Mortgage Loan, a duly executed assignment of the Mortgage to “Asset-Backed
      Certificates, Series 2006-BC2, CWABS, Inc., by The Bank of New York, a New
      York
      banking corporation, as trustee under the Pooling and Servicing Agreement dated
      as of May 1, 2006, without recourse” or a copy of such assignment, with
      recording information, or, in the case of each [Initial Mortgage
      Loan][Subsequent Mortgage Loan] with respect to property located in the State
      of
      California that is not a MERS Mortgage Loan, a duly executed assignment of
      the
      Mortgage in blank (each such assignment, when duly and validly completed, to
      be
      in recordable form and sufficient to effect the assignment of and transfer
      to
      the assignee thereof, under the Mortgage to which such assignment
      relates).

     

    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.

     

    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 [Initial Mortgage
      Loans][Subsequent Mortgage Loans] identified on the [Mortgage Loan
      Schedule][Loan Number and Borrower Identification Mortgage Loan Schedule] or
      (ii) the collectibility, insurability, effectiveness or suitability of any
      such
      [Initial Mortgage Loan][Subsequent Mortgage Loan].

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the Pooling and Servicing Agreement.

     

    The
      Bank
      of New York,

    as
      Trustee

     

    By: _______________________________________

    Name:

    Title:

     

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      G-4

     

    

     

    FORM
      OF
      INITIAL CERTIFICATION OF TRUSTEE

    (SUBSEQUENT
      MORTGAGE LOANS)

     

    [Date]

     

    [Depositor]

    

    [Sellers]

    

    [Master
      Servicer]

    

     

    Re:    CWABS
      Asset-Backed Certificates, Series 2006-BC2

     

    Gentlemen:

     

    In
      accordance with Section 2.02 of the Pooling and Servicing Agreement dated as
      of
      May 1, 2006 (the “Pooling and Servicing Agreement”) among CWABS, Inc., as
      Depositor, Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as
      a
      Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as a Seller, Countrywide
      Home Loans Servicing LP, as Master Servicer, and the undersigned, as Trustee,,
      the undersigned hereby certifies that, as to each Subsequent Mortgage Loan
      listed in the Loan Number and Borrower Identification Mortgage Loan Schedule
      (other than any Subsequent Mortgage Loan paid in full or listed in the attached
      list of exceptions) the Trustee has received:

     

    (1) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of _______________ without recourse”, with
      all intervening endorsements that show a complete chain of endorsement from
      the
      originator to the Person endorsing the Mortgage Note (each such endorsement
      being sufficient to transfer all right, title and interest of the party so
      endorsing, as noteholder or assignee thereof, in and to that Mortgage Note),
      or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note and all such
      intervening endorsements; and

     

    (2) a
      duly
      executed assignment of the Mortgage or a copy of such assignment with recording
      information, in either case in the form permitted by Section 2.01 of the Pooling
      and Servicing Agreement.

     

    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.

     

    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 Subsequent Mortgage
      Loans identified on the Loan Number and Borrower Identification Mortgage Loan
      Schedule or (ii) the collectibility, insurability, effectiveness or suitability
      of any such Subsequent Mortgage Loan.

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the Pooling and Servicing Agreement.

     

    The
      Bank
      of New York,

    as
      Trustee

     

    By:_________________________________________

    Name:

    Title:

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      H

     

    FORM
      OF
      FINAL CERTIFICATION OF TRUSTEE

     

    [Date]

     

    [Depositor]

     

    [Master
      Servicer]

     

    [Sellers]

     

     

    Re:    CWABS
      Asset-Backed Certificates, Series 2006-BC2

     

    Gentlemen:

     

    In
      accordance with Section 2.02 of the Pooling and Servicing Agreement dated as
      of
      May 1, 2006 (the “Pooling and Servicing Agreement”) among CWABS, Inc., as
      Depositor, Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as
      a
      Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as a Seller, Countrywide
      Home Loans Servicing LP, as Master Servicer, and the undersigned, as Trustee,,
      hereby certifies that[, with respect to the Subsequent Mortgage Loans delivered
      in connection with the Subsequent Transfer Agreement, dated as of __________
      (the “Subsequent Transfer Agreement”) among CWABS, Inc., as Depositor,
      Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as a Seller, Park
      Sienna LLC, as a Seller, Park Granada LLC, as a Seller, Countrywide Home Loans
      Servicing LP, as Master Servicer, and The Bank of New York, as Trustee,] as
      to
      each [Initial Mortgage Loan][Subsequent Mortgage Loan] listed in the [Mortgage
      Loan Schedule][Loan Number and Borrower Identification Mortgage Loan Schedule]
      (other than any [Initial Mortgage Loan][Subsequent Mortgage Loan] paid in full
      or listed on the attached Document Exception Report) the Trustee has
      received:

     

    (i) the
      original Mortgage Note, endorsed by manual or facsimile signature in blank
      in
      the following form: “Pay to the order of _________________ without recourse”,
      with all intervening endorsements that show a complete chain of endorsement
      from
      the originator to the Person endorsing the Mortgage Note (each such endorsement
      being sufficient to transfer all right, title and interest of the party so
      endorsing, as noteholder or assignee thereof, in and to that Mortgage Note),
      or,
      if the original Mortgage Note has been lost or destroyed and not replaced,
      an
      original lost note affidavit, stating that the original Mortgage Note was lost
      or destroyed, together with a copy of the related Mortgage Note and all such
      intervening endorsements;

     

    (ii) in
      the
      case of each [Initial Mortgage Loan][Subsequent Mortgage Loan] that is not
      a
      MERS Mortgage Loan, the original recorded Mortgage or a copy of such Mortgage,
      with recording information, and in the case of each [Initial Mortgage
      Loan][Subsequent Mortgage Loan] that is a MERS Mortgage Loan, the original
      Mortgage or a copy of such Mortgage, with recording information, noting the
      presence of the MIN of the [Initial Mortgage Loan][Subsequent Mortgage Loan]
      and
      language indicating that the [Initial Mortgage Loan][Subsequent Mortgage Loan]
      is a MOM Loan if the [Initial Mortgage Loan][Subsequent Mortgage Loan] is a
      MOM
      Loan, with evidence of recording indicated thereon, or a copy of the Mortgage
      certified by the public recording office in which such Mortgage has been
      recorded];

     

    (iii) in
      the
      case of each [Initial Mortgage Loan][Subsequent Mortgage Loan] that is not
      a
      MERS Mortgage Loan, a duly executed assignment of the Mortgage to “Asset-Backed
      Certificates, Series 2006-BC2, CWABS, Inc., by The Bank of New York, a New
      York
      banking corporation, as trustee under the Pooling and Servicing Agreement dated
      as of May 1, 2006, without recourse” or a copy of such assignment, with
      recording information, or, in the case of each [Initial Mortgage
      Loan][Subsequent Mortgage Loan] with respect to property located in the State
      of
      California that is not a MERS Mortgage Loan, a duly executed assignment of
      the
      Mortgage in blank (each such assignment, when duly and validly completed, to
      be
      in recordable form and sufficient to effect the assignment of and transfer
      to
      the assignee thereof, under the Mortgage to which such assignment
      relates);

     

    (iv) the
      original recorded assignment or assignments of the Mortgage or a copy of such
      assignments, with recording information, together with all interim recorded
      assignments of such Mortgage or a copy of such assignments, with recording
      information (in each case noting the presence of a MIN in the case of each
      MERS
      Mortgage Loan);

     

    (v) the
      original or copies of each assumption, modification, written assurance or
      substitution agreement, if any; and

     

    (vi) the
      original or duplicate original lender’s title policy or a copy of lender’s title
      policy or a printout of the electronic equivalent and all riders thereto or
      any
      one of an original title binder, an original preliminary title report or an
      original title commitment, or a copy thereof certified by the title
      company.

     

    If
      the
      public recording office in which a Mortgage or assignment thereof is recorded
      has retained the original of such Mortgage or assignment, the Trustee has
      received, in lieu thereof, a copy of the original Mortgage or assignment so
      retained, with evidence of recording thereon, certified to be true and complete
      by such recording office.

     

    Based
      on
      its review and examination and only as to the foregoing documents, (i) such
      documents appear regular on their face and related to such Mortgage Loan, and
      (ii) the information set forth in items (i), (iv), (v), (vi), (viii), (ix)
      and
      (xv) 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 [Initial Mortgage
      Loans][Subsequent Mortgage Loans] identified on the [Mortgage Loan
      Schedule][Loan Number and Borrower Identification Mortgage Loan Schedule] or
      (ii) the collectibility, insurability, effectiveness or suitability of any
      such
      [Initial Mortgage Loan][Subsequent Mortgage Loan].

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the Pooling and Servicing Agreement.

     

    The
      Bank
      of New York,

    as
      Trustee

     

    By:_________________________________________________

    Name:

    Title:

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      I

     

    TRANSFER
      AFFIDAVIT FOR THE CLASS A-R CERTIFICATES

     

    

      
        	
                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 an
      Ownership Interest in a Class A-R Certificate (the “Certificate”) issued
      pursuant to the Pooling and Servicing Agreement, dated as of May 1, 2006 (the
      “Agreement”), by and among CWABS, Inc., as Depositor, Countrywide Home Loans,
      Inc., as a Seller, Park Monaco Inc., as a Seller, Park Sienna LLC, as a Seller,
      Park Granada LLC, as a Seller, Countrywide Home Loans Servicing LP, as Master
      Servicer, and The Bank of New York, as Trustee. Capitalized terms used, but
      not
      defined herein or in Exhibit 1 hereto, 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 not an employee benefit plan or other plan that is subject to
      Title I of ERISA or to section 4975 of the Internal Revenue Code of 1986, nor
      is
      it acting on behalf of or with plan assets of any such plan. The Transferee
      is,
      as of the date hereof, and will be, as of the date of the Transfer, a Permitted
      Transferee. The Transferee will endeavor to remain a Permitted Transferee for
      so
      long as it retains its Ownership Interest in the Certificate. The Transferee
      is
      acquiring its Ownership Interest in the Certificate for its own
      account.

     

    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.

     

    4. The
      Transferee has been advised of, and understands that a tax will be imposed
      on a
“pass-through entity” holding the Certificate if at any time during the taxable
      year of the pass-through entity a Person that is not a Permitted Transferee
      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 a Permitted Transferee 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.)

     

    5. The
      Transferee has reviewed the provisions of Section 5.02(c) of the Agreement
      (attached hereto as Exhibit 2 and incorporated herein by reference) 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 5.02(c) 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
      in connection with any Transfer by a Person for whom the Transferee is acting
      as
      nominee, trustee or agent, 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 J-1 to the Agreement
      (a “Transferor Certificate”) to the effect that such Transferee has no actual
      knowledge that the Person to which the Transfer is to be made is not a Permitted
      Transferee.

     

    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 Class A-R
      Certificates.

     

    8. The
      Transferee’s taxpayer identification number is _____.

     

    9. The
      Transferee is a U.S. Person as defined in Code section 7701(a)(30).

     

    10. The
      Transferee is aware that the Class A-R Certificates may be “noneconomic residual
      interests” within the meaning of proposed Treasury regulations promulgated
      pursuant to the Code 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. In addition, as the holder of a noneconomic
      residual interest, the Transferee may incur tax liabilities in excess of any
      cash flows generated by the interest and the Transferee hereby represents that
      it intends to pay taxes associated with holding the residual interest as they
      become due.

     

    11. The
      Transferee has provided financial statements or other financial information
      requested by the Transferor in connection with the transfer of the Class A-R
      Certificates to permit the Transferor to assess the financial capability of
      the
      Transferee to pay such taxes.

     

    * * *

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    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__.

              

      

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Certain
      Definitions

     

    “Ownership
      Interest”: As to any Certificate, any ownership 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.

     

    “Permitted
      Transferee”: Any person other than (i) the United States, any State or political
      subdivision thereof, or any agency or instrumentality of any of the foregoing,
      (ii) a foreign government, International Organization or any agency or
      instrumentality of either of the foregoing, (iii) an organization (except
      certain farmers’ cooperatives described in section 521 of the Code) that is
      exempt from tax imposed by Chapter 1 of the Code (including the tax imposed
      by
      section 511 of the Code on unrelated business taxable income) on any excess
      inclusions (as defined in section 860E(c)(1) of the Code) with respect to any
      Class A-R Certificate, (iv) rural electric and telephone cooperatives described
      in section 1381(a)(2)(C) of the Code, (v) an “electing large partnership” as
      defined in section 775 of the Code, (vi) a Person that is not a citizen or
      resident of the United States, a corporation, partnership, or other entity
      (treated as a corporation or a partnership for federal income tax purposes)
      created or organized in or under the laws of the United States, any state
      thereof or the District of Columbia, or an estate whose income from sources
      without the United States is includible in gross income for United States
      federal income tax purposes regardless of its connection with the conduct of
      a
      trade or business within the United States, or a trust if a court within the
      United States is able to exercise primary supervision over the administration
      of
      the trust and one or more United States persons have authority to control all
      substantial decisions of the trustor unless such Person has furnished the
      transferor and the Trustee with a duly completed Internal Revenue Service Form
      W-8ECI, and (vii) any other Person so designated by the Trustee based upon
      an
      Opinion of Counsel that the Transfer of an Ownership Interest in a Class A-R
      Certificate to such Person may cause any REMIC formed hereunder to fail to
      qualify as a REMIC at any time that any Certificates are Outstanding. The terms
      “United States,” “State” and “International Organization” shall have the
      meanings set forth in section 7701 of the Code or successor provisions. A
      corporation will not be treated as an instrumentality of the United States
      or of
      any State or political subdivision thereof for these purposes if all of its
      activities are subject to tax and, with the exception of the Federal Home Loan
      Mortgage Corporation, a majority of its board of directors is not selected
      by
      such government unit. 

     

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

     

    “Transfer”:
      Any direct or indirect transfer or sale of any Ownership Interest in a
      Certificate, including the acquisition of a Certificate by the
      Depositor.

     

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Section
      5.02(c) of the Agreement

     

    (c) Each
      Person who has or who acquires any Ownership Interest in a Class A-R Certificate
      shall be deemed by the acceptance or acquisition of such Ownership Interest
      to
      have agreed to be bound by the following provisions, and the rights of each
      Person acquiring any Ownership Interest in a Class A-R Certificate are expressly
      subject to the following provisions:

     

    (1) Each
      Person holding or acquiring any Ownership Interest in a Class A-R Certificate
      shall be a Permitted Transferee and shall promptly notify the Trustee of any
      change or impending change in its status as a Permitted Transferee.

     

    (2) Except
      in
      connection with (i) the registration of the Tax Matters Person Certificate
      in
      the name of the Trustee or (ii) any registration in the name of, or transfer
      of
      a Class A-R Certificate to, an affiliate of the Depositor (either directly
      or
      through a nominee) in connection with the initial issuance of the Certificates,
      no Ownership Interest in a Class A-R Certificate may be registered on the
      Closing Date or thereafter transferred, and the Trustee shall not register
      the
      Transfer of any Class A-R Certificate, unless the Trustee shall have been
      furnished with an affidavit (a “Transfer Affidavit”) of the initial owner or the
      proposed transferee in the form attached hereto as Exhibit I.

     

    (3) Each
      Person holding or acquiring any Ownership Interest in a Class A-R Certificate
      shall agree (A) to obtain a Transfer Affidavit from any other Person to whom
      such Person attempts to Transfer its Ownership Interest in a Class A-R
      Certificate, (B) to obtain a Transfer Affidavit from any Person for whom such
      Person is acting as nominee, trustee or agent in connection with any Transfer
      of
      a Class A-R Certificate and (C) not to Transfer its Ownership Interest in a
      Class A-R Certificate, or to cause the Transfer of an Ownership Interest in
      a
      Class A-R Certificate to any other Person, if it has actual knowledge that
      such
      Person is not a Permitted Transferee.

     

    (4) Any
      attempted or purported Transfer of any Ownership Interest in a Class A-R
      Certificate in violation of the provisions of this Section 5.02(c) shall be
      absolutely null and void and shall vest no rights in the purported Transferee.
      If any purported transferee shall become a Holder of a Class A-R Certificate
      in
      violation of the provisions of this Section 5.02(c), then the last preceding
      Permitted Transferee shall be restored to all rights as Holder thereof
      retroactive to the date of registration of Transfer of such Class A-R
      Certificate. The Trustee shall be under no liability to any Person for any
      registration of Transfer of a Class A-R Certificate that is in fact not
      permitted by Section 5.02(b) and this Section 5.02(c) 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 after receipt of the related Transfer Affidavit and
      Transferor Certificate. The Trustee shall be entitled but not obligated to
      recover from any Holder of a Class A-R Certificate that was in fact not a
      Permitted Transferee at the time it became a Holder or, at such subsequent
      time
      as it became other than a Permitted Transferee, all payments made on such Class
      A-R Certificate at and after either such time. Any such payments so recovered
      by
      the Trustee shall be paid and delivered by the Trustee to the last preceding
      Permitted Transferee of such Certificate.

     

    (5) The
      Master Servicer shall use its best efforts to make available, upon receipt
      of
      written request from the Trustee, all information necessary to compute any
      tax
      imposed under section 860E(e) of the Code as a result of a Transfer of an
      Ownership Interest in a Class A-R Certificate to any Holder who is not a
      Permitted Transferee.

     

    The
      restrictions on Transfers of a Class A-R Certificate set forth in this Section
      5.02(c) shall cease to apply (and the applicable portions of the legend on
      a
      Class A-R Certificate may be deleted) with respect to Transfers occurring after
      delivery to the Trustee of an Opinion of Counsel, which Opinion of Counsel
      shall
      not be an expense of the Trustee, the Sellers or the Master Servicer to the
      effect that the elimination of such restrictions will not cause any constituent
      REMIC of any REMIC formed hereunder to fail to qualify as a REMIC at any time
      that the Certificates are outstanding or result in the imposition of any tax
      on
      the Trust Fund, a Certificateholder or another Person. Each Person holding
      or
      acquiring any ownership Interest in a Class A-R Certificate hereby consents
      to
      any amendment of this Agreement that, based on an Opinion of Counsel furnished
      to the Trustee, is reasonably necessary (a) to ensure that the record ownership
      of, or any beneficial interest in, a Class A-R Certificate is not transferred,
      directly or indirectly, to a Person that is not a Permitted Transferee and
      (b)
      to provide for a means to compel the Transfer of a Class A-R Certificate that
      is
      held by a Person that is not a Permitted Transferee to a Holder that is a
      Permitted Transferee.

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      J-1

     

    FORM
      OF
      TRANSFEROR CERTIFICATE FOR CLASS A-R CERTIFICATES

     

    Date:

     

    CWABS,
      Inc.

    as
      Depositor

    4500
      Park
      Granada

    Calabasas,
      California 91302

     

    The
      Bank
      of New York

    as
      Trustee

    101
      Barclay Street

    New
      York,
      New York 10286

     

    
      	 	
              Re:

            	
              CWABS,
                Inc. Asset Backed

              Certificates,
                Series
                2006-BC2

            

    

     

    Ladies
      and Gentlemen:

     

    In
      connection with our disposition of the Class A-R Certificates, we certify that
      we have no knowledge that the Transferee is not a Permitted Transferee. All
      capitalized terms used herein but not defined herein shall have the meanings
      assigned to them in the Pooling and Servicing Agreement dated as of May 1,
      2006,
      among CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller,
      Park
      Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as
      a
      Seller, Countrywide Home Loans Servicing LP, as Master Servicer, and The Bank
      of
      New York, as Trustee.

     

    Very
      truly yours,

     

    _____________________________________

    Name
      of
      Transferor

     

    By:
      _________________________________

    Name:

    Title:

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      J-2

     

    FORM
      OF
      TRANSFEROR CERTIFICATE FOR

    PRIVATE
      CERTIFICATES

     

    Date:

     

    
      CWABS,
        Inc.

      as
        Depositor

      4500
        Park
        Granada

      Calabasas,
        California 91302

       

      The
        Bank
        of New York

      as
        Trustee

      101
        Barclay Street

      New
        York,
        New York 10286

    

     

     

     

    
      	 	
              Re:

            	
              CWABS,
                Inc. Asset-Backed Certificates,

            

    

    Series
      2006-BC2, Class [ ]

     

     

    Ladies
      and Gentlemen:

     

    In
      connection with our disposition of the above-captioned Certificates we certify
      that (a) we understand that the Certificates have not been registered under
      the
      Securities Act of 1933, as amended (the “Act”), and are being disposed by us in
      a transaction that is exempt from the registration requirements of the Act,
      (b)
      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, in a manner that would be deemed, or taken any
      other action which would result in, a violation of Section 5 of the Act. All
      capitalized terms used herein but not defined herein shall have the meanings
      assigned to them in the Pooling and Servicing Agreement dated as of May 1,
      2006,
      among CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller,
      Park
      Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as
      a
      Seller, Countrywide Home Loans Servicing LP, as Master Servicer, and The Bank
      of
      New York, as Trustee.

     

    Very
      truly yours,

     

    __________________________________

    Name
      of
      Transferor

     

    By:
      _______________________________

    Name:

    Title:

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      K

     

    FORM
      OF
      INVESTMENT LETTER (NON-RULE 144A)

     

    Date:

     

     

    
      CWABS,
        Inc.

      as
        Depositor

      4500
        Park
        Granada

      Calabasas,
        California 91302

       

      The
        Bank
        of New York

      as
        Trustee

      101
        Barclay Street

      New
        York,
        New York 10286

    

    CWABS,
      Inc.,

     

     

     

    
      	 	
              Re:

            	
              CWABS,
                Inc. Asset-Backed Certificates,

            

    

    Series
      2006-BC2, Class [ ] 

     

     

    Ladies
      and Gentlemen:

     

    In
      connection with our acquisition of the above-captioned Certificates 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) either (i) we are not an employee benefit plan
      that is subject to the Employee Retirement Income Security Act of 1974, as
      amended, or a plan or arrangement that is subject to Section 4975 of the
      Internal Revenue Code of 1986, as amended, nor are we acting on behalf of any
      such plan or arrangement, or using the assets of any such plan or arrangement
      to
      effect such acquisition or (ii) if the Certificates have been the subject of
      an
      ERISA-Qualifying Underwriting, we are 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 the purchase and holding of such
      Certificates are covered under Sections I and III of PTCE 95-60, (e) 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 (g) below), (f) 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 (g) 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.

     

    All
      capitalized terms used herein but not defined herein shall have the meanings
      assigned to them in the Pooling and Servicing Agreement dated as of May 1,
      2006,
      among CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller,
      Park
      Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as
      a
      Seller, Countrywide Home Loans Servicing LP, as Master Servicer, and The Bank
      of
      New York, as Trustee.

     

    Very
      truly yours,

     

    __________________________________

    Name
      of
      Transferee

     

    By:
      _______________________________

    Authorized
      Officer

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      L

     

    FORM
      OF
      RULE 144A LETTER

     

    Date:

     

     

    
      CWABS,
        Inc.

      as
        Depositor

      4500
        Park
        Granada

      Calabasas,
        California 91302

       

      The
        Bank
        of New York

      as
        Trustee

      101
        Barclay Street

      New
        York,
        New York 10286

    

    CWABS,
      Inc.,

     

     

     

    
      	 	
              Re:

            	
              CWABS,
                Inc. Asset-Backed Certificates,

            

    

    Series
      2006-BC2, Class [ ] 

     

    Ladies
      and Gentlemen:

     

    In
      connection with our acquisition of the above-captioned Certificates 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 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) either (i) we are not an employee benefit plan
      that is subject to the Employee Retirement Income Security Act of 1974, as
      amended, or a plan or arrangement that is subject to Section 4975 of the
      Internal Revenue Code of 1986, as amended, nor are we acting on behalf of any
      such plan or arrangement, or using the assets of any such plan or arrangement
      to
      effect such acquisition or (ii) if the Certificates have been the subject of
      an
      ERISA-Qualifying Underwriting, we are 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 the purchase and holding of such
      Certificates are covered under Sections I and III of PTCE 95-60, (e) 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, (f) 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.

     

    All
      capitalized terms used herein but not defined herein shall have the meanings
      assigned to them in the Pooling and Servicing Agreement dated as of May 1,
      2006,
      among CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller,
      Park
      Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as
      a
      Seller, Countrywide Home Loans Servicing LP, as Master Servicer, and The Bank
      of
      New York, as Trustee.

     

    Very
      truly yours,

     

    __________________________________

    Name
      of
      Transferee

     

    By:
      _______________________________

    Authorized
      Officer

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    ANNEX
      1
      TO EXHIBIT L

     

    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:

     

    As
      indicated below, the undersigned is the President, Chief Financial Officer,
      Senior Vice President or other executive officer of the Buyer.

     

    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 either at least $100,000,000 in securities or, if Buyer
      is a
      dealer, Buyer must own and/or invest on a discretionary basis at least
      $10,000,000 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.

     

    ___  
       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.

     

    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.

     

    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.

     

    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.

     

    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:__________________________________________

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    ANNEX
      2 TO EXHIBIT L

     

    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.

     

    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).

     

    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).

     

    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.

     

    The
      Buyer
      is familiar with Rule 144A and under-stands 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.

     

    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:  

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      M

     

    FORM
      OF
      REQUEST FOR DOCUMENT RELEASE

     

    Loan
      Information

     

    
      
        
          	
                  Name
                    of Mortgagor:

                	 
	
                   

                  Master
                    Servicer Loan No.:

                	 
	
                   

                  Trustee

                	 
	
                   

                  Name:

                	 
	
                   

                  Address:

                	 
	 	 
	
                   

                  Trustee
                    Mortgage File No.:

                	 

        

      

    

     

    The
      undersigned Master Servicer hereby acknowledges that it has received from
      _______________________________________, as Trustee for the Holders of
      Asset-Backed Certificates, Series 2006-BC2, the documents referred to below
      (the
“Documents”). All capitalized terms not otherwise defined in this Request for
      Document Release shall have the meanings given them in the Pooling and Servicing
      Agreement dated as of May 1, 2006 (the “Pooling and Servicing Agreement”) among
      CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller, Park
      Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada LLC, as
      a
      Seller, Countrywide Home Loans Servicing LP, as Master Servicer, and The Bank
      of
      New York, as Trustee.

     

    
      	
              (
                )

            	
              Mortgage
                Note dated ___________, ____, in the original principal sum of $________,
                made by __________________, payable to, or endorsed to the order
                of, the
                Trustee.

            

    

     

    
      	
              (
                )

            	
              Mortgage
                recorded on _________________ as instrument no. ________________
                in the
                County Recorder’s Office of the County of ________________, State of
                _______________ in book/reel/docket _______________ of official records
                at
                page/image _____________.

            

    

     

    
      	
              (
                )

            	
              Deed
                of Trust recorded on _________________ as instrument no. ________________
                in the County Recorder’s Office of the County of ________________, State
                of _______________ in book/reel/docket _______________ of official
                records
                at page/image _____________.

            

    

     

    
      	
              (
                )

            	
              Assignment
                of Mortgage or Deed of Trust to the Trustee, recorded on _________________
                as instrument no. __________ in the County Recorder’s Office of the County
                of __________, State of _______________ in book/reel/docket
                _______________ of official records at page/image
                _____________.

            

    

     

    
      	
              (
                )

            	
              Other
                documents, including any amendments, assignments or other assumptions
                of
                the Mortgage Note or Mortgage.

            

    

     

    
      	
              (
                )

            	
              ______________________________________________

            

    

     

    
      	
              (
                )

            	
              ______________________________________________

            

    

     

    
      	
              (
                )

            	
              ______________________________________________

            

    

     

    
      	
              (
                )

            	
              ______________________________________________

            

    

     

    The
      undersigned Master Servicer hereby acknowledges and agrees as
      follows:

     

    (1) The
      Master Servicer shall hold and retain possession of the Documents in trust
      for
      the benefit of the Trust Fund, solely for the purposes provided in the Pooling
      and Servicing Agreement.

     

    (2) The
      Master Servicer shall not cause or knowingly permit the Documents to become
      subject to, or encumbered by, any claim, liens, security interest, charges,
      writs of attachment or other impositions nor shall the Master Servicer assert
      or
      seek to assert any claims or rights of setoff to or against the Documents or
      any
      proceeds thereof.

     

    (3) The
      Master Servicer shall return each and every Document previously requested from
      the Mortgage File to the Trustee when the need therefor no longer exists, unless
      the Mortgage Loan relating to the Documents has been liquidated and the proceeds
      thereof have been remitted to the Certificate Account and except as expressly
      provided in the Pooling and Servicing Agreement.

     

    (4) The
      Documents and any proceeds thereof, including any proceeds of proceeds, coming
      into the possession or control of the Master Servicer shall at all times be
      earmarked for the account of the Trust Fund, and the Master Servicer shall
      keep
      the Documents and any proceeds separate and distinct from all other property
      in
      the Master Servicer’s possession, custody or control.

     

    [Master
      Servicer]

     

    By
        

     

    Its
        

     

    Date:
      _________________, ____

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      N

     

    FORM
      OF
      REQUEST FOR FILE RELEASE

     

    OFFICER’S
      CERTIFICATE AND TRUST RECEIPT

     

    ASSET-BACKED
      CERTIFICATES,

     

    Series
      2006-BC2

     

    __________________________________________
      HEREBY CERTIFIES THAT HE/SHE IS AN OFFICER OF THE MASTER SERVICER, HOLDING
      THE
      OFFICE SET FORTH BENEATH HIS/HER SIGNATURE, AND HEREBY FURTHER CERTIFIES AS
      FOLLOWS:

     

    WITH
      RESPECT TO THE MORTGAGE LOANS, AS THE TERM IS DEFINED IN THE POOLING AND
      SERVICING AGREEMENT DESCRIBED IN THE ATTACHED SCHEDULE:

     

    [ALL
      PAYMENTS OF PRINCIPAL AND INTEREST HAVE BEEN MADE.] [THE PURCHASE PRICE FOR
      SUCH
      MORTGAGE LOANS HAS BEEN PAID.] [THE MORTGAGE LOANS HAVE BEEN LIQUIDATED AND
      THE
      RELATED [INSURANCE PROCEEDS] [LIQUIDATION PROCEEDS] HAVE BEEN DEPOSITED PURSUANT
      TO SECTION 3.13 OF THE POOLING AND SERVICING AGREEMENT.] [A REPLACEMENT MORTGAGE
      LOAN HAS BEEN DELIVERED TO THE TRUSTEE IN THE MANNER AND OTHERWISE IN ACCORDANCE
      WITH THE CONDITIONS SET FORTH IN SECTIONS 2.02 AND 2.03 OF THE POOLING AND
      SERVICING AGREEMENT.]

     

    LOAN
      NUMBER:_______________  BORROWER’S
      NAME:_____________

     

    COUNTY:____________________

     

    [For
      Substitution or Repurchase Only: The Master Servicer certifies that [an] [no]
      opinion is required by Section 2.05 [and is attached hereto].]

     

    I
      HEREBY
      CERTIFY THAT ALL AMOUNTS RECEIVED IN CONNECTION WITH SUCH PAYMENTS, THAT ARE
      REQUIRED TO BE DEPOSITED IN THE CERTIFICATE ACCOUNT PURSUANT TO SECTION 3.05
      OF
      THE POOLING AND SERVICING AGREEMENT, HAVE BEEN OR WILL BE CREDITED.

     

    ____________ _____________________ DATED:____________

     

    

     

    /
      / VICE
      PRESIDENT

     

    /
      / ASSISTANT
      VICE PRESIDENT

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    Exhibit
      O

     

    Exhibit
      O
      is a photocopy

    of
      the
      Depository Agreement

    as
      delivered.

     

    [See
      appropriate documents delivered at closing.]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      P

     

    FORM
      OF
      SUBSEQUENT TRANSFER AGREEMENT

     

    SUBSEQUENT
      TRANSFER AGREEMENT, dated as of ____________, 200[_] (this “Subsequent Transfer
      Agreement”), among CWABS, INC., a Delaware corporation, as depositor (the
“Depositor”), COUNTRYWIDE HOME LOANS, INC., a New York corporation, in its
      capacity as a seller under the Pooling and Servicing Agreement referred to
      below
      (“CHL”), PARK MONACO INC., a Delaware corporation, in its capacity as a seller
      under the Pooling and Servicing Agreement (“Park Monaco”), PARK GRANADA LLC, a
      Delaware limited liability company, in its capacity as a seller under the
      Pooling and Servicing Agreement (“Park Granada”), PARK SIENNA LLC, a Delaware
      limited liability company, in its capacity as a seller under the Pooling and
      Servicing Agreement (“Park Sienna” and, together with CHL, Park Granada and Park
      Monaco, the “Sellers”) and The Bank of New York, a New York banking corporation,
      as trustee (the “Trustee”);

     

    WHEREAS,
      the Depositor, CHL, Park Monaco, Park Sienna, Park Granada, the Trustee and
      Countrywide Home Loans Servicing LP, as Master Servicer have entered in the
      Pooling and Servicing Agreement, dated as of May 1, 2006 (the “Pooling and
      Servicing Agreement”), relating to the CWABS, Inc. Asset-Backed Certificates,
      Series 2006-BC2 (capitalized terms not otherwise defined herein are used as
      defined in the Pooling and Servicing Agreement);

     

    WHEREAS,
      Section 2.01(b) of the Pooling and Servicing Agreement provides for the parties
      hereto to enter into this Subsequent Transfer Agreement in accordance with
      the
      terms and conditions of the Pooling and Servicing Agreement;

     

    NOW,
      THEREFORE, in consideration of the premises and for other good and valuable
      consideration the receipt and adequacy of which are hereby acknowledged the
      parties hereto agree as follows:

     

    (a) The
      “Subsequent Transfer Date” with respect to this Subsequent Transfer Agreement
      shall be ________ __, 200[_].

     

    (b) The
      “Subsequent Transfer Date Purchase Amount” with respect to this Subsequent
      Transfer Agreement shall be $_______________.

     

    (c) The
      Subsequent Mortgage Loans conveyed on the Subsequent Transfer Date shall be
      subject to the terms and conditions of the Pooling and Servicing Agreement.
      

     

    (d) Annex
      I
      hereto sets forth a list of the Mortgage Loans which are Delay Delivery Mortgage
      Loans. 

     

    (e) In
      case
      any provision of this Subsequent Transfer Agreement shall be invalid, illegal
      or
      unenforceable, the validity, legality and enforceability of the remaining
      provisions or obligations shall not in any way be affected or impaired
      thereby.

     

    (f) In
      the
      event of any conflict between the provisions of this Subsequent Transfer
      Agreement and the Pooling and Servicing Agreement, the provisions of the Pooling
      and Servicing Agreement shall prevail. 

     

    (g) This
      Subsequent Transfer Agreement shall be governed by, and shall be construed
      and
      enforced in accordance with the laws of the State of New York.

     

    (h) The
      Subsequent Transfer Agreement may be executed in one or more counterparts,
      each
      of which so executed and delivered shall be deemed an original, but all such
      counterparts together shall constitute but one and the same
      instrument.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties to this Subsequent Transfer Agreement have caused
      their names to be signed hereto by their respective officers thereunto duly
      authorized as of the day and year first above written.

     

     

    CWABS,
      INC.,

    as
      Depositor

     

     

    By: __________________________________ 

    Name:

    Title:

     

     

    COUNTRYWIDE
      HOME LOANS, INC.,

    as
      a
      Seller

     

     

    By: __________________________________ 

    Name:

    Title:

     

     

    PARK
      MONACO INC.,

    as
      a
      Seller

     

     

    By: __________________________________ 

    Name:

    Title:

     

     

    PARK
      SIENNA LLC,

    as
      a
      Seller

     

     

    By: __________________________________ 

    Name:

    Title:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    PARK
      GRANADA LLC,

    as
      a
      Seller

     

     

    By: __________________________________ 

    Name:

    Title:

     

     

    THE
      BANK
      OF NEW YORK,

    not
      in
      its individual capacity,

    but
      solely as Trustee

     

     

    By:___________________________________ 

    Name:

    Title:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Annex
      I

     

    Mortgage
      Loans for which All or a Portion of a Related Mortgage File is not Delivered
      to
      the Trustee on or prior to the Subsequent Transfer Date

     

    

    

    

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      Q

     

    [RESERVED]

     

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      R

     

    [RESERVED]

     

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      S-1

     

    [RESERVED]

     

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      S-2

     

    [RESERVED]

     

     

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      T

     

    OFFICER’S
      CERTIFICATE WITH RESPECT TO PREPAYMENTS

     

    ASSET-BACKED
      CERTIFICATES,

    Series
      2006-BC2

     

    [Date]

    

    Via
      Facsimile

    

    The
      Bank
      of New York,

    as
      Trustee

    101
      Barclay Street

    New
      York,
      New York 10286

     

    

    Dear
      Sir
      or Madam:

    

    Reference
      is made to the Pooling and Servicing Agreement, dated as of May 1, 2006, (the
      “Pooling and Servicing Agreement”) among CWABS, Inc., as Depositor, Countrywide
      Home Loans, Inc., as a Seller, Park Monaco Inc., as a Seller, Park Sienna LLC,
      as a Seller, Park Granada LLC, as a Seller, Countrywide Home Loans Servicing
      LP,
      as Master Servicer, and The Bank of New York, as Trustee. Capitalized terms
      used
      herein shall have the meanings ascribed to such terms in the Pooling and
      Servicing Agreement.

     

    __________________
      hereby certifies that he/she is a Servicing Officer, holding the office set
      forth beneath his/her name and hereby further certifies as follows:

     

    With
      respect to the Distribution Date in _________ 20[ ] and each Mortgage Loan
      set
      forth in the attached schedule:

     

    1.
      A
      Principal Prepayment in full or in part was received during the related
      Prepayment Period;

     

    2.
      Any
      Prepayment Charge due under the terms of the Mortgage Note with respect to
      such
      Principal Prepayment was or was not, as indicated on the attached schedule
      using
“Yes” or “No”, received from the Mortgagor and deposited in the Certificate
      Account;

     

    3.
      As to
      each Mortgage Loan set forth on the attached schedule for which all or part
      of
      the Prepayment Charge required in connection with the Principal Prepayment
      was
      waived by the Master Servicer, such waiver was, as indicated on the attached
      schedule, based upon:

     

    (i)
      the
      Master Servicer’s determination that such waiver would maximize recovery of
      Liquidation Proceeds for such Mortgage Loan, taking into account the value
      of
      such Prepayment Charge, or

     

    (ii)(A)
      the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium,
      receivership, or other similar law relating to creditors’ rights generally or
      (2) due to acceleration in connection with a foreclosure or other involuntary
      payment, or (B) the enforceability is otherwise limited or prohibited by
      applicable law; and

     

    4.
      We
      certify that all amounts due in connection with the waiver of a Prepayment
      Charge inconsistent with clause 3 above which are required to be deposited
      by
      the Master Servicer pursuant to Section 3.20 of the Pooling and Servicing
      Agreement, have been or will be so deposited.

     

    COUNTRYWIDE
      HOME LOANS, INC.,

    as
      Master
      Servicer

     

     

    By:___________________________________ 

    Name:

    Title:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      OF MORTGAGE LOANS FOR WHICH A PREPAYMENT WAS RECEIVED DURING THE RELATED
      PREPAYMENT PERIOD

     

    
      	
              Loan
                Number

            	
              Clause
                2: Yes/No

            	
              Clause
                3: (i) or (ii)

            
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

    

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      U

     

    FORM
      OF
      SWAP CONTRACT

     

    [See
      document delivered at closing.]

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      V-1

     

    FORM
      OF
      SWAP CONTRACT NOVATION AGREEMENT

     

    [See
      document delivered at closing.]

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      V-2

     

    FORM
      OF
      SWAP CONTRACT ADMINISTRATION AGREEMENT

     

    [See
      document delivered at closing.]

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      V-3

     

    [reserved]

     

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      W

     

    MONTHLY
      STATEMENT

     

    [On
      file
      with Trustee]

     

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

     

    EXHIBIT
      X-1

     

    FORM
      OF PERFORMANCE CERTIFICATION

     

    (Subservicer)

     

    
      	 	
              Re:

            	
              The
                Pooling and Servicing Agreement dated as of May 1, 2006 (the “Pooling and
                Servicing Agreement”) among
                CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller,
                Park
                Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada
                LLC,
                as a Seller, Countrywide Home Loans Servicing LP, as Master Servicer,
                and
                the undersigned, as Trustee,
                and [Subservicing Agreement] dated as of [     ] (the
                “Agreement”)

            

    

     

    I,
      ________________________________, the _______________________ of [NAME OF
      COMPANY] (the “Company”), certify to the Depositor and the Master Servicer, and
      their officers, with the knowledge and intent that they will rely upon this
      certification, that:

     

    (1) I
      have reviewed the servicer compliance statement of the Company provided in
      accordance with Item 1123 of Regulation AB (the “Compliance Statement”), the
      report on assessment of the Company’s compliance with the servicing criteria set
      forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in
      accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934,
      as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
      Assessment”), the registered public accounting firm’s attestation report
      provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act
      and
      Section 1122(b) of Regulation AB (the “Attestation Report”), all servicing
      reports, officer’s certificates and other information relating to the servicing
      of the Mortgage Loans by the Company during 200[ ] that were delivered by the
      Company to the Depositor, the Master Servicer and the Trustee pursuant to the
      Agreement (collectively, the “Company Servicing Information”); 

     

    (2) Based
      on my knowledge, the Company Servicing Information, taken as a whole, does
      not
      contain any untrue statement of a material fact or omit to state a material
      fact
      necessary to make the statements made, in the light of the circumstances under
      which such statements were made, not misleading with respect to the period
      of
      time covered by the Company Servicing Information;

     

    (3) Based
      on my knowledge, all of the Company Servicing Information required to be
      provided by the Company under the Agreement has been provided to the [Depositor]
      [Master Servicer];

     

    (4) I
      am responsible for reviewing the activities performed by the Company as a
      servicer under the Agreement, and based on my knowledge and the compliance
      review conducted in preparing the Compliance Statement and except as disclosed
      in the Compliance Statement, the Servicing Assessment or the Attestation Report,
      the Company has fulfilled its obligations under the Agreement; and

     

    (5) The
      Compliance Statement required to be delivered by the Company pursuant to the
      Agreement, and the Servicing Assessment and Attestation Report required to
      be
      provided by the Company and by any Subservicer or Subcontractor pursuant to
      the
      Agreement, have been provided to the Master Servicer. Any material instances
      of
      noncompliance described in such reports have been disclosed to the Master
      Servicer. Any material instance of noncompliance with the Servicing Criteria
      has
      been disclosed in such reports.

     

    

     

    Date: _________________________

     

    

     

    By:
      ________________________________

    Name:
      

    Title:
      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

     

    EXHIBIT
      X-2

     

    FORM
      OF PERFORMANCE CERTIFICATION

     

    (Trustee)

     

    
      	 	
              Re:

            	
              The
                Pooling and Servicing Agreement dated as of May 1, 2006 (the “Pooling and
                Servicing Agreement”) among
                CWABS, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller,
                Park
                Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Park Granada
                LLC,
                as a Seller, Countrywide Home Loans Servicing LP, as Master Servicer,
                and
                the undersigned, as Trustee

            

    

     

    I,
      ________________________________, the _______________________ of [NAME OF
      COMPANY] (the “Company”), certify to the Depositor and the Master Servicer, and
      their officers, with the knowledge and intent that they will rely upon this
      certification, that:

     

    (1) I
      have reviewed the report on assessment of the Company’s compliance with the
      servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing
      Criteria”), provided in accordance with Rules 13a-18 and 15d-18 under Securities
      Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of
      Regulation AB (the “Servicing Assessment”), the registered public accounting
      firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18
      under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation
      Report”), [all reports on Form 10-D containing statements to certificateholders
      filed in respect of the period included in the year covered by the annual report
      of the Trust Fund] (collectively, the “Distribution Date Statements”);

     

    (2) Assuming
      the accuracy and completeness of the information delivered to the Company by
      the
      Master Servicer as provided in the Pooling and Servicing Agreement and subject
      to paragraph (4) below, the distribution information determined by the Company
      and set forth in the Distribution Date Statements contained in all Form 10-D’s
      included in the year covered by the annual report of such Trust on Form 10-K
      for
      the calendar year 200[ ], is complete and does not contain any material
      misstatement of fact as of the last day of the period covered by such annual
      report;

     

    (3) Based
      solely on the information delivered to the Company by the Master Servicer as
      provided in the Pooling and Servicing Agreement, (i) the distribution
      information required under the Pooling and Servicing Agreement to be contained
      in the Trust Fund’s Distribution Date Statements and (ii) the servicing
      information required to be provided by the Master Servicer to the trustee for
      inclusion in the Trust Fund’s Distribution Date Statements, to the extent
      received by the Trustee from the Master Servicer in accordance with the Pooling
      and Servicing Agreement, is included in such Distribution Date
      Statements;

     

    (4) The
      Company is not certifying as to the accuracy, completeness or correctness of
      the
      information which it received from the Master Servicer and did not independently
      verify or confirm the accuracy, completeness or correctness of the information
      provided by the Master Servicer; 

     

    (5) I
      am responsible for reviewing the activities performed by the Company as a person
      “performing a servicing function” under the Pooling and Servicing Agreement, and
      based on my knowledge and the compliance review conducted in preparing the
      Servicing Assessment and except as disclosed in the Servicing Assessment or
      the
      Attestation Report, the Company has fulfilled its obligations under the Pooling
      and Servicing Agreement; and

     

    (6) The
      Servicing Assessment and Attestation Report required to be provided by the
      Company and by Subcontractor pursuant to the Pooling and Servicing Agreement,
      have been provided to the Master Servicer and the Depositor. Any material
      instances of noncompliance described in such reports have been disclosed to
      the
      Master Servicer and the Depositor. Any material instance of noncompliance with
      the Servicing Criteria has been disclosed in such reports.

     

    Date: _________________________

     

    

     

    By:
      ________________________________

    Name:
      

    Title:
      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      Y

    

    

    FORM
      OF OFFICER’S CERTIFICATE OF THE TRUSTEE REGARDING SERVICING
      COMPLIANCE

    

    CWABS
      ASSET-BACKED CERTIFICATES TRUST 2006-BC2

    

    

    The
      undersigned hereby certifies that, pursuant to Section 11.07 of the Pooling
      and
      Servicing Agreement, dated as of May 1, 2006, by and among CWABS, Inc., as
      depositor (the “Depositor”), Countrywide Home Loans, Inc., as a seller, Park
      Monaco Inc., as a seller, Park Granada LLC, as a seller, Park Sienna LLC, as
      a
      seller, Countrywide Home Loans Servicing LP, as master servicer (the “Master
      Servicer”) and The Bank Of New York, as trustee (the “Trustee”), on or before
      March 15 of each calendar year, commencing in 2007, the [Master
      Servicer] [Trustee] [Name of Subservicer]
      shall
      deliver to the Depositor and the Master Servicer a report regarding the
[Master
      Servicer’s] [Trustee’s] [Name of Subservicer’s]
      assessment of compliance with the Servicing Criteria during the immediately
      preceding calendar year, as required under Rules 13a-18 and 15d-18 of the
      Exchange Act and Item 1122 of Regulation AB, which report shall address each
      of
      the Servicing Criteria specified in Exhibit A hereto.

    

     

     

    [Master
      Servicer] [Trustee] [Name of Subservicer], 

    not
      in its individual capacity, but solely as Trustee

    

    

    Name:
      _________________________     

    Title:
      

    Date:
      _________________________

    

     

    

    

     

    

    

    

    

    

    

    

    

    Exhibit
      A

    
      	
              Servicing
                Criteria 

            	
              Applicable
                Servicing Criteria

            
	
              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.

            	 
	
              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.

            	 
	
              1122(d)(2)(ii)

            	
              Disbursements
                made via wire transfer on behalf of an obligor or to an investor
                are made
                only by authorized personnel.

            	 
	
              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.

            	 
	
              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.

            	 
	
              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.

            	 
	
               

            	
              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.

            	 
	
              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.

            	 
	
              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.

            	 
	
              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.

            	 
	
               

            	
              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

            	 
	
              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.

            	 
	
              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.

            	 
	
               

            	
               

            	
               

            

    

    

     

    [NAME
      OF
      MASTER SERVICER] 

    [NAME
      OF
      TRUSTEE] [NAME OF SUBSERVICER]

     

    Date: _________________________

     

    By:
      ________________________________

    Name:
      

    Title:
      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      Z

     

    [FORM
      OF]
      LIST OF ITEM 1119 PARTIES

     

    ASSET
      BACKED CERTIFICATES,

     

    Series
      200_-__

     

    [Date]

    

    
      	
              Party

            	
              Contact
                Information

            
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

    

    

     

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    EXHIBIT
      AA

    

    FORM
      OF 

    SARBANES-OXLEY
      CERTIFICATION

    (Replacement
      Master Servicer)

    

    (On
      file with Trustee)

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    SCHEDULE
      I

     

    PREPAYMENT
      CHARGE SCHEDULE AND PREPAYMENT CHARGE SUMMARY

     

    [Delivered
      to Trustee at closing and on file with the Trustee.]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    SCHEDULE
      II

     

    COLLATERAL
      SCHEDULE

     

    
      	
              Characteristic

            	
              Applicable
                Section

            	
              Loan
                Group 1

            	
              Loan
                Group 2

            
	
              Single-Family
                Detached Dwellings

            	
              2.03(b)(32)

            	
              77.40%

            	
              78.78%

            
	
              Two-
                to Four-Family Dwellings

            	
              2.03(b)(32)

            	
              5.10%

            	
              4.88%

            
	
              Low-Rise
                Condominium Units

            	
              2.03(b)(32)

            	
              5.97%

            	
              5.38%

            
	
              High-Rise
                Condominium Units

            	
              2.03(b)(32)

            	
              0.06%

            	
              None

            
	
              Manufactured
                Housing

            	
              2.03(b)(32)

            	
              None

            	
              None

            
	
              PUDs

            	
              2.03(b)(32)

            	
              10.84%

            	
              10.77%

            
	
              Earliest
                Origination Date

            	
              2.03(b)(33)

            	
              4/11/2005

            	
              10/15/2004

            
	
              Prepayment
                Penalty

            	
              2.03(b)(35)

            	
              81.21%

            	
              82.89%

            
	
              Investor
                Properties

            	
              2.03(b)(36)

            	
              3.86%

            	
              4.05%

            
	
              Primary
                Residences

            	
              2.03(b)(36)

            	
              95.60%

            	
              95.62%

            
	
              Lowest
                Current Mortgage Rate

            	
              2.03(b)(48)

            	
              5.125%

            	
              5.420%

            
	
              Highest
                Current Mortgage Rate

            	
              2.03(b)(48)

            	
              10.500%

            	
              12.650%

            
	
              Weighted
                Average Current Mortgage Rate

            	
              2.03(b)(48)

            	
              7.357%

            	
              7.730%

            
	
              Lowest
                Gross Margin

            	
              2.03(b)(51)

            	
              1.620%

            	
              2.400%

            
	
              Highest
                Gross Margin

            	
              2.03(b)(51)

            	
              8.750%

            	
              9.140%

            
	
              Weighted
                Average Gross Margin

            	
              2.03(b)(51)

            	
              6.075%

            	
              6.338%

            
	
              Date
                on or before which each Initial Mortgage Loan has a 

              Due
                Date

            	
              2.03(b)(52)

            	
              April
                1, 2006

            	
              April
                1, 2006

            

    

    

    
      	
              Adjustment
                Date

            	
              Applicable
                Section

            	
              Adjustable
                Rate Mortgage Loans (other than Two-Year, Three-Year, Five-Year and
                Ten-year Hybrid Mortgage Loans)

            	
              Two-Year
                Hybrid Mortgage Loans

            	
              Three-Year
                Hybrid Mortgage Loans

            	
              Five-Year
                Hybrid Mortgage Loans

            	
              Ten-Year
                Hybrid Mortgage Loans

            
	
              Latest
                Next Adjustment Date

            	
              2.03(b)(34)

            	
              July
                1, 2006

            	
              November
                1, 2006

            	
              December
                1, 2007

            	
              May
                1, 2010

            	
              November
                1, 2015

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]