Document:

EXCHANGE
      TRUST AGREEMENT

     

    

     

    THIS
      EXCHANGE TRUST AGREEMENT (this “Agreement”)
      dated
      as of August 1, 2006, is executed by and among Structured Asset Securities
      Corporation, as depositor (the “Depositor”),
      HSBC
      Bank USA, National Association, solely in its capacity as trustee pursuant
      to
      the Underlying Trust Agreement (as defined below) (the “Trustee”)
      and
      Wells Fargo Bank, N.A., as securities administrator (the “Securities
      Administrator”).

     

    WITNESSETH

    

    WHEREAS,
      the Depositor, the Trustee, Aurora Loan Services, LLC, as Master Servicer,
      and
      the Securities Administrator have entered into a Trust Agreement (the
“Underlying
      Trust Agreement”)
      dated
      as of August 1, 2006 establishing Lehman Mortgage Trust 2006-5 (the
“Underlying
      Trust”);

     

    WHEREAS,
      the Underlying Trust has issued a series of certificates known as Mortgage
      Pass-Through Certificates, Series 2006-5, evidencing the entire beneficial
      interests in the Underlying Trust;

     

    WHEREAS,
      the Exchange Classes and Exchangeable Classes (each as defined herein) will
      be
      issued hereunder and will represent ownership interests in the related REMIC
      Classes (as defined herein);

     

    WHEREAS,
      all or a portion of the Exchange Classes may be exchanged for the related
      Exchangeable Classes and vice versa; and

     

    WHEREAS,
      the parties hereto desire to create this Trust to issue the Exchange Classes
      and
      the Exchangeable Classes subject to the terms and conditions set forth
      herein.

     

    NOW
      THEREFORE, the parties to this Agreement, in the several capacities hereinabove
      set forth, do hereby declare and establish this Agreement and do hereby
      undertake and otherwise agree as follows:

     

    ARTICLE
      I

     

    DEFINED
      TERMS

     

    Capitalized
      terms used and not defined herein shall have the respective meanings assigned
      to
      them in the Underlying Trust Agreement and the rules of construction set forth
      therein shall apply hereto. In addition, whenever used in this Agreement, the
      following words and phrases, unless the context otherwise requires, shall have
      the following meanings:

     

    “Aggregate
      Denomination”:
      As to
      any Class and date of determination, the aggregate of the denominations of
      the
      Outstanding Certificates of such Class on such date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    “Authorized
      Officer”:
      The
      Chairman of the Board, the President or any Executive Vice President, Senior
      Vice President or Vice President.

     

    “Certificate”:
      A
      grantor trust pass-through security issued hereunder in a book-entry form as
      authorized by this Agreement.

     

    “Certificate
      Registrar”:
      For
      the purposes of this Agreement, the Securities Administrator appointed pursuant
      to the Underlying Trust Agreement which shall act as Certificate Registrar
      under
      this Agreement subject to the terms and conditions and entitled to the same
      rights, protections and indemnities set forth in the Agreement.

     

    “Class”:
      Each
      Class of Certificates issued or issuable hereunder as set forth in Section
      2.02
      hereto and each REMIC Class issued under the Underlying Trust
      Agreement.

     

    “Class
      Balance”:
      With
      respect to any Exchangeable Class or Exchange Class, at any time, the aggregate
      of the Certificate Principal Amounts of all Outstanding Certificates of such
      Class.

     

    “Class
      Distribution Amount”:
      As to
      each Exchangeable Class and Exchange Class and any Distribution Date, an amount
      equal to the aggregate of the Class Interest Distribution Amount and Class
      Principal Distribution Amount on such date. As to each Related REMIC Class
      on
      any Distribution Date, the sum of (i) the Accrued Certificate Interest
      distributable to such Class pursuant to the Underlying Trust Agreement on such
      date; and (ii) the amount of principal distributable to such Class pursuant
      to
      the Underlying Trust Agreement on such date.

     

    “Class
      Interest Distribution Amount”:
      As to
      each Exchangeable Class and Exchange Class, and each Distribution Date, an
      amount equal to Accrued Certificate Interest (as defined in the Underlying
      Trust
      Agreement) for such class.

     

    “Class
      Principal Distribution Amount”:
      As to
      each Exchangeable Class and Exchange Class, and each Distribution Date, an
      amount as to principal equal to (i) the concurrent distribution of principal
      in
      respect of each Related REMIC Class multiplied by (ii) a fraction, the numerator
      of which is the Aggregate Denomination of such Class and the denominator of
      which is the Initial Authorized Denomination of such Class.

     

    “Code”:
      The
      Internal Revenue Code of 1986, as amended, including any successor or amendatory
      provisions.

     

    “Combination
      Group”:
      Any
      allowable combination of Certificates as set forth on Appendix A.

    

    “Distribution
      Date”:
      As to
      any Exchangeable Class and Exchange Class, the Distribution Date for the Related
      REMIC Classes.

     

    “Exchange
      Classes”
or
      “Exchange
      Certificates”:
      Each
      Class of Certificates identified as such in Appendix A hereto and issued
      hereunder.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

     

    “Exchangeable
      Classes”
or
      “Exchangeable
      Certificates”:
      Each
      Class of Certificates identified as such in Appendix A hereto and issued
      hereunder.

     

    “Initial
      Authorized Denomination”:
      With
      respect to any Class and Combination Group, the amount set forth with respect
      to
      such Class and such Combination Group in Appendix A under the heading “Maximum
      Balance” or “Maximum Original Balance.”

     

    “Issue
      Date”:
      August
      30, 2006.

     

    “Notional
      Amount”:
      With
      respect to any Notional Exchange Classes, as set forth in Appendix
      A
      hereto.

     

    “Notional
      Exchange Classes”:
      Not
      applicable.

     

    “Outstanding
      Certificate”:
      Any
      Outstanding Exchange Certificate and Outstanding Exchangeable
      Certificate.

     

    “Outstanding
      Exchangeable Certificate”:
      Any
      Exchangeable Certificate issued on the Issue Date; provided,
      however,
      that
      upon the exchange of any Exchangeable Certificate pursuant to Section 2.03
      hereof, the Exchangeable Certificate so exchanged shall be deemed no longer
      to
      be an Outstanding Certificate, and each Exchange Certificate issued in exchange
      therefor shall be deemed to be an Outstanding Exchange Certificate.

     

    “Outstanding
      Exchange Certificate”:
      Any
      Exchange Certificate issued on the Issue Date; provided,
      however,
      that
      upon the exchange of any Exchange Certificate pursuant to Section 2.03 hereof,
      the Exchange Certificate so exchanged shall be deemed no longer to be an
      Outstanding Exchange Certificate, and the Exchangeable Certificate issued in
      exchange therefor shall be deemed to be an Outstanding Exchangeable
      Certificate.

     

    “Paying
      Agent”:
      For
      the purposes of this Agreement, the Securities Administrator appointed pursuant
      to the Underlying Trust Agreement which shall act as Paying Agent under this
      Trust Agreement subject to the same terms and conditions and entitled to the
      same rights, protections and indemnities set forth in the underlying Trust
      Agreement.

     

    “Prospectus”:
      The
      prospectus dated August 11, 2006, as supplemented by a prospectus supplement
      dated August 28, 2006, relating to the Lehman Mortgage Trust, Mortgage
      Pass-Through Certificates Series 2006-5.

     

    “Realized
      Loss Allocation Amount”:
      As to
      each Exchangeable Class or Exchange Class and Distribution Date, an amount
      equal
      to the aggregate of the Realized Losses on such Distribution Date in respect
      of
      each such Class multiplied by a fraction, the numerator of which is equal to
      the
      Aggregate Denomination of such Exchange or Exchangeable Class at the close
      of
      business on the related Record Date and the denominator of which is the Initial
      Authorized Denomination with respect to such Class. 

     

    “Related
      REMIC Class”:
      As to
      any Exchange Class (and each Exchangeable Class of the same Combination Group),
      the REMIC Class with the identical class designation as such Exchange
      Class.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

     

    “REMIC
      Class”
or
      “REMIC
      Certificates”:
      Each
      of the following Classes of Certificates issued under the Underlying Trust
      Agreement in uncertificated form: the Class 1-A8, Class 1-A9, Class 1-A10,
      Class
      1-A11, Class 2-A4, Class 2-A5 and Class 2-A6 Certificates.

     

    “Special
      Combinations”:
      Combinations, 1, 2, 5, 6 and 7.

     

    “Trust”:
      The
      trust created by this Agreement, the corpus of which consists of the Trust
      Fund.

     

    “Trust
      Account”:
      As
      defined in Section 3.02 hereof.

     

    “Trust
      Fund”:
      The
      corpus of the trust created by this Agreement, consisting of the Trust Account
      and the uncertificated interests in the REMIC Certificates issued by the
      Underlying Trust and all payments thereon and all rights
      thereunder.

     

    “Underlying
      Trust”:
      As
      defined in the Preamble hereof.

     

    ARTICLE
      II

     

    THE
      TRUST

     

    Section
      2.01. Acceptance
      of REMIC Certificates.
      HSBC
      Bank USA, National Association, acting in its capacity as Trustee, acknowledges
      the transfer and assignment to it of the uncertificated REMIC Certificates
      and
      hereby declares that it will hold the same in trust for the Certificateholders
      on the terms in this Agreement contained.

     

    Section
      2.02. Certificates.
      The
      Certificates authorized by this Agreement shall consist of each Exchange
      Class and Exchangeable Class having the characteristics specified or determined
      as provided in Appendix A and the Underlying Trust Agreement, and otherwise
      shall be subject to the terms and provisions set forth herein. 

     

    Section
      2.03. Exchanges.
      Certificates shall be exchangeable on the books of DTC, on and after the Closing
      Date, by notice to the Securities Administrator and under the terms and
      conditions hereinafter set forth.

     

    In
      the
      case of each Combination Group, Exchange Certificates in such Combination Group
      shall be exchangeable for Exchangeable Certificates related to such Combination
      Group in respective denominations determined based on the proportion that the
      initial Certificate Principal Balances of such Exchange Certificates bear to
      the
      original Certificate Principal Balances of the related Exchangeable
      Certificates, as set forth in Appendix A. Upon any such exchange the portions
      of
      the Exchange Certificates designated for exchange shall be deemed cancelled
      and
      replaced by the Exchangeable Certificates issued in exchange therefor.
      Correspondingly, Exchangeable Certificates related to a Combination Group may
      be
      further designated for exchange for Certificates of the Exchange Classes in
      such
      Combination Group in respective denominations determined based on the proportion
      that the initial Certificate Principal Balances of such Exchangeable
      Certificates bear to the original Certificate Principal Balances of the related
      Exchange Certificates, as set forth in Appendix A. There shall be no limitation
      on the number of exchanges authorized pursuant to this Section 2.03, and, except
      as set forth below, no fee or other charge shall be payable to the Trustee,
      the
      Securities Administrator or DTC in connection therewith.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    

    Upon
      the
      presentation and surrender by any Holder of its Certificates in the appropriate
      combination as set forth on Appendix A, such Holder shall hereunder transfer,
      assign, set over and otherwise convey to the Trustee, all of such Holder’s
      right, title and interest in and to such Certificates, including all payments
      of
      interest thereon received after the month of the date specified in the notice
      (as described in the immediately succeeding paragraph) relating to such
      exchange.

    

    In
      order
      to effect an exchange of Certificates, the Certificateholder shall provide
      notice to the Securities Administrator (substantially in the form of Exhibit
      I
      hereto) in writing or by e-mail at GCTSSPGTEAMC-1@wellsfargo.com,
      Rebecca.A.Lisi@wellsfargo.com and Scott.Runkles@wellsfargo.com no later than
      two
      Business Days before the proposed exchange date. The exchange date may be any
      Business Day from and including the 25th
      day of
      the month to the second to the last Business Day of the month subject to the
      Securities Administrator’s approval. The notice must be on the
      Certificateholder’s letterhead, carry a medallion stamp guarantee and set forth
      the following information: the CUSIP number of both Certificates to be exchanged
      and Certificates to be received; outstanding Certificate Balance or Notional
      Amount and the Original Certificate Balance or Notional Amount of the
      Certificates to be exchanged; the Certificateholder’s DTC participant number;
      and the proposed exchange date. After receiving the notice, the Securities
      Administrator shall e-mail the Certificateholder with wire payment instructions
      relating to the exchange fee. A notice becomes irrevocable on the second
      Business Day before the proposed exchange date.

    

    Notwithstanding
      any other provision herein set forth, a fee shall be payable to the Securities
      Administrator in connection with each exchange equal to $5,000 for each exchange
      request.

    

    The
      Securities Administrator shall make the first distribution on an Exchange
      Certificate or an Exchangeable Certificate received in an exchange transaction
      on the Distribution Date in the following month to the Certificateholder of
      record as of the close of business on the last day of the month of the
      exchange.

    

    Notwithstanding
      anything to the contrary provided herein, exchanges with respect to Certificates
      in Special Combinations shall be made on the basis of the current balances
      of
      such Certificates and the Related REMIC Classes.

    

    Section
      2.04. Delivery
      of Instruments.
      The
      Securities Administrator shall furnish to each Holder, upon request, copies
      of
      this Agreement, without attachments, applicable to the Certificate(s) held
      by
      such Holder.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

     

    ARTICLE
      III

     

    CERTIFICATES;
      DISTRIBUTIONS

     

    Section
      3.01. Issuance
      of Certificates.
      The
      Classes of Certificates issued hereunder shall be issued in book-entry form
      and
      shall be maintained in the names of the record owners thereof as entries on
      the
      books of DTC. Such Certificates shall be in authorized denominations set forth
      herein and in the Underlying Trust Agreement.

     

    Section
      3.02. Trust
      Account.
      On or
      before the Issue Date, the Securities Administrator shall either (i) open
      with a depository institution one or more trust accounts in the name of the
      Trustee on behalf of the Trust Fund that shall collectively be the “Trust
      Account,”
      (ii) in lieu of maintaining any such account or accounts, maintain the
      Trust Account by means of appropriate entries on its books and records
      designating all amounts credited thereto in respect of the REMIC Certificates
      and all investments of any such amounts as being held by it in its capacity
      as
      Securities Administrator for the benefit of the Holders of the Certificates
      or
      (iii) maintain the Trust Account in the form of any combination of accounts
      or book entries described in clauses (i) and (ii) above. Any manner or manners
      in which the Trust Account is maintained may at any time be changed without
      notice to, or the approval of Holders of, the Certificates so long as funds
      held
      in the Trust Fund by, or for the account of, the Securities Administrator shall
      at all times be identified. To the extent that the Trust Account is maintained
      by the Securities Administrator in the manner provided for in clause (ii) above,
      all references herein to deposits and withdrawals from the Trust Account shall
      be deemed to refer to credits and debits to the related books of the Securities
      Administrator.

     

    The
      Securities Administrator shall deposit in the Trust Account all distributions
      in
      respect of the REMIC Certificates received by it as Securities Administrator
      hereunder. All such distributions deposited from time to time in the Trust
      Account and all investments made with such moneys, including all income or
      other
      gain from such investments, shall be held by the Securities Administrator in
      the
      Trust Account as part of the Trust Fund as herein provided, subject to
      withdrawal by the Securities Administrator for distributions on the
      Certificates.

     

    Section
      3.03. Distributions.
      On each
      Distribution Date, the Securities Administrator shall withdraw from the Trust
      Account the Class Distribution Amount for each Class and shall cause the Paying
      Agent to make the appropriate distributions to the Holders of each such Class.
      All distributions of such Class Distribution Amount that are made with respect
      to a particular Class shall be made pro
      rata
      among
      all Certificates of such class in proportion to their respective Certificate
      Balances, with no preference or priority of any kind. As among any Outstanding
      Exchange Classes, distributions shall be made to such Certificates, pro
      rata,
      in
      proportion to the Class Principal Balance of each such Class.

     

    Section
      3.04. Allocation
      of Realized Losses.
      On each
      Distribution Date, the Realized Loss Allocation Amount for each Exchange and
      Exchangeable Class shall be applied to such Class in reduction of the balances
      thereof.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

     

    ARTICLE
      IV

     

    LIMITATION
      OF LIABILITY

     

    The
      Trustee and the Securities Administrator shall be entitled to the same rights,
      protections and indemnities afforded to them under the Underlying Trust
      Agreement.

     

    ARTICLE
      V

     

    THE
      TRUSTEE

     

    In
      the
      event that there shall be any matter arising under the Underlying Trust
      Agreement that requires the vote of Holders of Certificates outstanding
      thereunder, the Trustee shall vote such REMIC Certificates in such amounts
      and
      proportions as shall reflect instructions received from Holders of any
      Outstanding Exchange Certificates and Outstanding Exchangeable
      Certificates.

     

    ARTICLE
      VI

     

    TERMINATION

     

    The
      respective obligations and responsibilities of the Securities Administrator
      and
      the Trustee shall terminate as to the Trust Fund upon the same terms and
      conditions as the Underlying Trust Agreement may be amended or
      supplemented.

     

    ARTICLE
      VII

     

    SUPPLEMENTAL
      AGREEMENTS

     

    This
      Agreement may be amended or supplemented from time to time by the Depositor,
      the
      Securities Administrator and the Trustee upon the same terms and conditions
      as
      the Underlying Trust Agreement may be amended or supplemented.

     

    ARTICLE
      VIII

     

    MISCELLANEOUS

     

    Section
      8.01. Certificateholders.
      The
      death of incapacity of any Certificateholder shall neither operate to terminate
      this Agreement, nor entitle such Certificateholder’s legal representative or
      heirs to claim an accounting or to take any action or proceeding in any court
      for a partition or winding-up of the affairs of the Trust Fund, nor otherwise
      affect the rights, duties and obligations of any of the parties to this
      Agreement.

     

    Except
      as
      provided in Article V and Article VII, no Certificateholder shall have any
      right
      to vote or in any manner otherwise control the operation and management of
      the
      Trust Fund or the obligations of the parties hereto, nor shall anything herein
      set forth, or contained in the terms of the Certificates, be construed so as
      to
      constitute the Certificateholders from time to time as partners or members
      of an
      association; nor shall any Certificateholder be under any liability to any
      third
      person by reason of any action taken by the parties to this Trust Agreement
      pursuant to any provision hereof.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

     

    No
      Certificateholder shall have any right, by virtue of any provision of this
      Trust
      Agreement, to institute any suit, action or proceeding in equity or at law
      upon
      or under or with respect to this Agreement unless an Event of Default shall
      have
      occurred and be continuing in respect of this Agreement. It is understood and
      intended, and is 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 of any provision of this
      Agreement to affect, disturb or prejudice the rights of the Holders of any
      other
      such 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 equal, ratable and common benefit of
      all
      Certificateholders. For the protection and enforcement of the provisions of
      the
      Section, each and every Certificateholder and the Trustee shall be entitled
      to
      such relief as can be given either at law or in equity.

     

    Section
      8.02. Governing
      Law.
      THIS
      AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
      THE
      STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER
      THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS
      AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
      SUCH LAWS.

     

    Section
      8.03. Demands,
      Notices and Communications.
      All
      formal demands, notices and communications by and among the Trustee, the
      Securities Administrator, the Certificate Registrar, the Paying Agent and the
      Holder of any Certificate shall be in writing and delivered in person or by
      first class mail, postage prepaid, or by facsimile to the Trustee at its address
      or facsimile number set forth in the Underlying Trust Agreement. Any notice
      so
      mailed within the time prescribed in this Agreement shall be conclusively
      presumed to have been duly given whether or not the Person to whom such notice
      shall have been directed receives such notice.

     

    Section
      8.04. Severability
      of Provisions.
      If any
      one or more of the covenants, agreements, provisions or terms of this Trust
      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
      8.05. Tax
      Status and Reporting.
      It is
      the intended that the Trust Fund created hereunder be considered a “grantor
      trust” under the Code. Based upon such characterization, within a reasonable
      period of time after the end of each calendar year but not later than the latest
      date permitted by law, the Securities Administrator shall mail to each person
      who so requests in writing and who at anytime during such calendar year shall
      have been a Certificateholder the necessary information under applicable law
      for
      preparation of such Holder’s federal and state income tax returns unless
      substantially similar information has been previously provided to such
      Certificateholder.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

     

    For
      federal income tax purposes, the grantor trust created hereunder shall have
      a
      calendar year taxable year. The Securities Administrator shall prepare or cause
      to be prepared and shall file or cause to be filed with the Internal Revenue
      Service and applicable state or local tax authorities, income tax information
      returns for each taxable year with respect to the grantor trust.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto hereby execute this Agreement, as of the
      day
      and year first above written.

     

    
      	 	 	 
	 	
              HSBC
                BANK USA, NATIONAL ASSOCIATION

              solely
                in its capacity as Trustee

            
	 
 	 
 	 
 
	 	By:  	 /s/
              Fernando
              Acebedo 
	 	Name: 
	  Fernando
              Acebedo
	 	Title:	  Vice
              President
	 	 

    

    

    
       

      
        	 	 	 
	 	
                
                  WELLS
                    FARGO BANK, N.A.

                  in
                    its capacity as Securities Administrator

                

              
	 
 	 
 	 
 
	 	By:  	/s/
                Michael
                Pinzon
	 	Name: 
	  Michael
                Pinzon
	 	Title:	  Vice
                President
	 	 

      

      

         

        
          	 	 	 
	 	
                  
                    STRUCTURED
                      ASSET SECURITIES CORPORATION

                    in
                      its capacity as Depositor

                  

                
	 
 	 
 	 
 
	 	By:  	/s/
                  Michael
                  Hitzmann
	 	Name: 
	 
Michael
                  Hitzmann
	 	Title:	  SVP
	 	 

        

        
 

      

    

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    APPENDIX
      A

     

    Available
      Combinations

    

    

    
      	
              Exchange
                Certificates

            	 	 	 	
              Exchangeable
                Certificates

            	 
	
              Class

            	 	
              Maximum
                Balance(1)

            	 	
              Class

            	 	
              Maximum
                Original Balance(1)

            	 
	
              Combination
                1

            	 	 	
            	 	 	
            	 	 	
            	 
	
              2-A4

            	 	
              $

            	
              12,538,000

            	 	 	
              2-A1

            	 	
              $

            	
              181,849,000

            	 
	
              2-A5

            	 	 	
              67,724,000

            	 	 	 	 	 	 	 
	
              2-A6

            	 	 	
              101,587,000

            	 	 	
            	 	 	
            	 
	
              Combination
                2

            	 	 	
            	 	 	
            	 	 	
            	 
	
              2-A5

            	 	 	
              67,724,000

            	 	 	
              2-A3

            	 	 	
              169,311,000

            	 
	
              2-A6

            	 	 	
              101,587,000

            	 	 	
            	 	 	 	 
	
              Combination
                3

            	 	 	 	 	 	
            	 	 	
            	 
	
              1-A8

            	 	 	
              18,453,428

            	 	 	
              1-A12

            	 	 	
              21,529,000
                

            	 
	
              1-A9

            	 	 	
              3,075,572

            	 	 	
            	 	 	
            	 
	
              Combination
                4

            	 	 	 	 	 	
            	 	 	 	 
	
              1-A10

            	 	 	
              6,617,142

            	 	 	
              1-A13

            	 	 	
              7,720,000
                

            	 
	
              1-A11

            	 	 	
              1,102,858

            	 	 	
            	 	 	
            	 
	
              Combination
                5

            	 	 	
            	 	 	
            	 	 	
            	 
	
              1-A8

            	 	 	
              18,453,428

            	 	 	
              1-A14

            	 	 	
              25,070,570

            	 
	
              1-A10

            	 	 	
              6,617,142

            	 	 	
            	 	 	
            	 
	
              Combination
                6

            	 	 	
            	 	 	
            	 	 	
            	 
	
              1-A9

            	 	 	
              3,075,572

            	 	 	
              1-A15

            	 	 	
              4,178,430
                

            	 
	
              1-A11

            	 	 	
              1,102,858

            	 	 	
            	 	 	 	 
	
              Combination
                7

            	 	 	 	 	 	
            	 	 	
            	 
	
              1-A8

            	 	 	
              18,453,428

            	 	 	
              1-A16

            	 	 	
              29,249,000

            	 
	
              1-A9

            	 	 	
              3,075,572

            	 	 	
            	 	 	 	 
	
              1-A10

            	 	 	
              6,617,142

            	 	 	
            	 	 	 	 
	
              1-A11

            	 	 	
              1,102,858

            	 	 	
            	 	 	 	 

    

    

    
      	
              (1)

            	
              Exchange
                Certificates and Exchangeable Certificates in any combination may
                be
                exchanged only in the proportion that the original balances of such
                certificates bear to one another as shown above, except that for
                Combinations 1, 2, 5, 6 and 7, the relative proportions of Certificates
                to
                be delivered (or, if applicable, received) will be based on the current
                balances at the time of exchange.

            

    

    

    
      
        
        

      

      
        I-1

        
          

        

      

      
        
        

      

    

    EXHIBIT
      I

    

    FORM
      OF EXCHANGE LETTER

    

    

    

    

    ___,
      20__

    

    

    Wells
      Fargo Bank, N.A.

    P.O.
      Box 98

    Columbia,
      Maryland 21046

    Attention:
      Corporate Trust Group, LMT 2006-5

    

    

    Re:   Lehman
      Mortgage Trust 2006-5,

    Mortgage
      Pass-Through Certificates, Series 2006-5

     

    Ladies
      and Gentlemen:

    

    Pursuant
      to the terms of the Exchange Trust Agreement dated as of August 1, 2006 (the
      “Trust
      Agreement”),
      by
      and among Structured Asset Securities Corporation, as depositor, HSBC Bank
      USA,
      National Association, as trustee (the “Trustee”)
      and
      Wells Fargo Bank, N.A., as securities administrator (the “Securities
      Administrator”),
      we
      hereby present and surrender the Certificates specified on Schedule
      I
      attached
      hereto and transfer, assign, set over and otherwise convey to the Trustee,
      all
      of our right, title and interest in and to such Certificates, including all
      payments of interest thereon received after [___________], 2006, in exchange
      for
      the related Certificates specified on Schedule
      I
      attached
      hereto. 

     

    We
      agree
      that upon such exchange the portions of the Certificates designated for exchange
      shall be deemed cancelled and replaced by the Certificates issued in exchange
      therefor. We confirm that we have paid a fee to the Securities Administrator
      in
      connection with such exchange equal to $5,000.

     

    

     

    

    
      
        
        

      

      
        I-1

        
          

        

      

      
        
        

      

    

    Sincerely,

    

    

    

    By:
            

    Name:
      

    Title:
      

    

    Acknowledged
      by:

    

    WELLS
      FARGO BANK, N.A., 

    as
      Securities Administrator

    

    

    By:
            

    Name:
      

    Title:

    

    

    

    
      
        
        

      

      
        I-2

        
          

        

      

      
        
        

      

    

    SCHEDULE
      I

     

     

     

     

     

     

    
      
        
        

      

      
        I-3Unassociated Document

    
      

      

    

     

    GREENWICH
      CAPITAL ACCEPTANCE, INC.,

    Depositor

    

    GREENWICH
      CAPITAL FINANCIAL PRODUCTS, INC.,

    Seller

    

    WELLS
      FARGO BANK, N.A.,

    Master
      Servicer and Securities Administrator

    

    

    CLAYTON
      FIXED INCOME SERVICES INC.,

    Credit
      Risk Manager

    

    and

    

    DEUTSCHE
      BANK NATIONAL TRUST COMPANY,

    Trustee
      and Custodian

     

    POOLING
      AND SERVICING AGREEMENT

     

    Dated
      as
      of August 1, 2006

     

    
      
        

      

    

     

    HarborView
      Mortgage Loan Trust

    Mortgage
      Loan Pass-Through Certificates, Series 2006-8

     

    
      

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Table
      of Contents

     

    
      	 	
              Page

            
	
              ARTICLE
                I DEFINITIONS; DECLARATION OF TRUST

            	
              4

            
	 	 
	
              SECTION
                1.01. Defined Terms.

            	
              4

            
	
              SECTION
                1.02. Accounting.

            	
              51

            
	 	 
	
              ARTICLE
                II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF
                CERTIFICATES

            	
              51

            
	 	 
	
              SECTION
                2.01. Conveyance of Mortgage Loans.

            	
              51

            
	
              SECTION
                2.02. Acceptance by Trustee.

            	
              55

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

            	
              56

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

            	
              60

            
	
              SECTION
                2.05. [Reserved].

            	
              63

            
	
              SECTION
                2.06. Representations and Warranties of the Depositor.

            	
              63

            
	
              SECTION
                2.07. Issuance of Certificates.

            	
              64

            
	
              SECTION
                2.08. Representations and Warranties of the Seller.

            	
              64

            
	
              SECTION
                2.09. Covenants of the Seller.

            	
              66

            
	 	 
	
              ARTICLE
                III ADMINISTRATION AND MASTER SERVICING OF THE MORTGAGE LOANS; CREDIT
                RISK
                MANAGER

            	
              67

            
	 	 
	
              SECTION
                3.01. Master Servicer to Service and Administer the Mortgage
                Loans.

            	
              67

            
	
              SECTION
                3.02. REMIC-Related Covenants.

            	
              68

            
	
              SECTION
                3.03. Monitoring of Servicers.

            	
              68

            
	
              SECTION
                3.04. Fidelity Bond.

            	
              70

            
	
              SECTION
                3.05. Power to Act; Procedures.

            	
              71

            
	
              SECTION
                3.06. Due-on-Sale Clauses; Assumption Agreements.

            	
              72

            
	
              SECTION
                3.07. Release of Mortgage Files.

            	
              72

            
	
              SECTION
                3.08. Documents, Records and Funds in Possession of Master Servicer
                to be
                Held for Trust Fund.

            	
              73

            
	
              SECTION
                3.09. Standard Hazard Insurance and Flood Insurance
                Policies.

            	
              74

            
	
              SECTION
                3.10. Presentment of Claims and Collection of Proceeds.

            	
              74

            
	
              SECTION
                3.11. Maintenance of the Primary Insurance Policies.

            	
              74

            
	
              SECTION
                3.12. Trustee to Retain Possession of Certain Insurance Policies
                and
                Documents.

            	
              75

            
	
              SECTION
                3.13. Realization Upon Defaulted Mortgage Loans.

            	
              75

            
	
              SECTION
                3.14. Additional Compensation to the Master Servicer.

            	
              76

            
	
              SECTION
                3.15. REO Property.

            	
              76

            
	
              SECTION
                3.16. Assessments of Compliance and Attestation Reports.

            	
              77

            
	
              SECTION
                3.17. Annual Compliance Statement.

            	
              79

            
	
              SECTION
                3.18. Sarbanes-Oxley Certification.

            	
              80

            
	
              SECTION
                3.19. Reports Filed with Securities and Exchange
                Commission.

            	
              80

            

    

     

    
      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

     

     

    
      	
              SECTION
                3.20. Additional Information.

            	
              86

            
	
              SECTION
                3.21. Intention of the Parties and Interpretation.

            	
              86

            
	
              SECTION
                3.22. Indemnification.

            	
              86

            
	
              SECTION
                3.23. [Reserved].

            	
              87

            
	
              SECTION
                3.24. [Reserved].

            	
              87

            
	
              SECTION
                3.25. [Reserved].

            	
              87

            
	
              SECTION
                3.26. [Reserved].

            	
              87

            
	
              SECTION
                3.27. Closing Certificate and Opinion.

            	
              87

            
	
              SECTION
                3.28. [Reserved].

            	
              87

            
	
              SECTION
                3.29. Merger or Consolidation of the Master Servicer.

            	
              87

            
	
              SECTION
                3.30. Indemnification of the Trustee, the Master Servicer and the
                Securities Administrator.

            	
              88

            
	
              SECTION
                3.31. Limitations on Liability of the Master Servicer and Others;
                Indemnification of Trustee and 

              Others.

            	
              89

            
	
              SECTION
                3.32. Master Servicer Not to Resign.

            	
              90

            
	
              SECTION
                3.33. Successor Master Servicer.

            	
              91

            
	
              SECTION
                3.34. Sale and Assignment of Master Servicing.

            	
              91

            
	
              SECTION
                3.35. Reporting Requirements of the Commission.

            	
              91

            
	
              SECTION
                3.36. Duties of the Credit Risk Manager.

            	
              92

            
	
              SECTION
                3.37. Limitation Upon Liability of the Credit Risk
                Manager.

            	
              92

            
	
              SECTION
                3.38. Removal of Credit Risk Manager.

            	
              93

            
	 	 
	
              ARTICLE
                IV ACCOUNTS

            	
              93

            
	 	 
	
              SECTION
                4.01. Servicing Accounts.

            	
              93

            
	
              SECTION
                4.02. Distribution Account.

            	
              94

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

            	
              96

            
	
              SECTION
                4.04. [Reserved].

            	
              98

            
	
              SECTION
                4.05. [Reserved].

            	
              98

            
	 	 
	
              ARTICLE
                V FLOW OF FUNDS

            	
              98

            
	 	 
	
              SECTION
                5.01. Distributions.

            	
              98

            
	
              SECTION
                5.02. Allocation of Net Deferred Interest.

            	
              105

            
	
              SECTION
                5.03. Allocation of Realized Losses.

            	
              105

            
	
              SECTION
                5.04. Statements.

            	
              107

            
	
              SECTION
                5.05. Remittance Reports; Advances.

            	
              110

            
	
              SECTION
                5.06. Compensating Interest Payments.

            	
              110

            
	
              SECTION
                5.07. Basis Risk Reserve Fund.

            	
              111

            
	
              SECTION
                5.08. Recoveries.

            	
              111

            
	
              SECTION
                5.09. The Final Maturity Reserve Trust.

            	
              112

            

    

     

    
      	
              ARTICLE
                VI THE CERTIFICATES

            	
              113

            
	 	 
	
              SECTION
                6.01. The Certificates.

            	
              113

            
	
              SECTION
                6.02. Registration of Transfer and Exchange of
                Certificates.

            	
              114

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

            	
              122

            
	
              SECTION
                6.04. Persons Deemed Owners.

            	
              122

            
	
              SECTION
                6.05. Appointment of Paying Agent.

            	
              122

            

    

    
       

      
        
          
          

        

        
          ii

          
            

          

        

        
          
          

        

      

    

     

    
      	
              ARTICLE
                VII DEFAULT

            	
              123

            
	 	 
	
              SECTION
                7.01. Event of Default.

            	
              123

            
	
              SECTION
                7.02. Trustee to Act.

            	
              125

            
	
              SECTION
                7.03. Waiver of Event of Default.

            	
              126

            
	
              SECTION
                7.04. Notification to Certificateholders.

            	
              127

            
	 	 
	
              ARTICLE
                VIII THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

            	
              127

            
	 	 
	
              SECTION
                8.01. Duties of the Trustee and the Securities
                Administrator.

            	
              127

            
	
              SECTION
                8.02. Certain Matters Affecting the Trustee and the Securities
                Administrator.

            	
              129

            
	
              SECTION
                8.03. Trustee and the Securities Administrator Not Liable for Certificates
                or Mortgage Loans.

            	
              131

            
	
              SECTION
                8.04. Trustee, Custodians, Master Servicer and Securities Administrator
                May Own Certificates.

            	
              131

            
	
              SECTION
                8.05. Trustee’s and Securities Administrator’s Fees and
                Expenses.

            	
              132

            
	
              SECTION
                8.06. Eligibility Requirements for Trustee and Securities
                Administrator.

            	
              132

            
	
              SECTION
                8.07. Resignation or Removal of Trustee and Securities
                Administrator.

            	
              133

            
	
              SECTION
                8.08. Successor Trustee and Successor Securities
                Administrator.

            	
              134

            
	
              SECTION
                8.09. Merger or Consolidation of Trustee or Securities
                Administrator.

            	
              135

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

            	
              135

            
	
              SECTION
                8.11. Limitation of Liability.

            	
              136

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

            	
              136

            
	
              SECTION
                8.13. Suits for Enforcement.

            	
              137

            
	
              SECTION
                8.14. Waiver of Bond Requirement.

            	
              137

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

            	
              137

            
	
              SECTION
                8.16. Appointment of Custodians.

            	
              138

            
	 	 
	
              ARTICLE
                IX REMIC ADMINISTRATION

            	
              138

            
	 	 
	
              SECTION
                9.01. REMIC Administration.

            	
              138

            
	
              SECTION
                9.02. Prohibited Transactions and Activities.

            	
              141

            
	 	 
	
              ARTICLE
                X TERMINATION

            	
              141

            
	 	 
	
              SECTION
                10.01. Termination.

            	
              141

            
	
              SECTION
                10.02. Additional Termination Requirements.

            	
              144

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

            	
              144

            
	 	 
	
              ARTICLE
                XI DISPOSITION OF TRUST FUND ASSETS

            	
              145

            
	 	 
	
              SECTION
                11.01. Disposition of Trust Fund Assets.

            	
              145

            
	 	 
	
              ARTICLE
                XII MISCELLANEOUS PROVISIONS

            	
              145

            
	 	 
	
              SECTION
                12.01. Amendment.

            	
              145

            
	
              SECTION
                12.02. Recordation of Agreement; Counterparts.

            	
              146

            
	
              SECTION
                12.03. Limitation on Rights of Certificateholders.

            	
              147

            
	
              SECTION
                12.04. Governing Law; Jurisdiction.

            	
              148

            
	
              SECTION
                12.05. Notices.

            	
              148

            
	
              SECTION
                12.06. Severability of Provisions.

            	
              149

            

    

     

    
      
        
        

      

      
        iii

        
          

        

      

      
        
        

      

    

     

    
      	
              SECTION
                12.07. Article and Section References.

            	
              149

            
	
              SECTION
                12.08. Notice to the Rating Agencies.

            	
              149

            
	
              SECTION
                12.09. Further Assurances.

            	
              150

            
	
              SECTION
                12.10. Benefits of Agreement.

            	
              150

            
	
              SECTION
                12.11. Acts of Certificateholders.

            	
              151

            
	
              SECTION
                12.12. Successors and Assigns.

            	
              151

            
	
              SECTION
                12.13. Provision of Information.

            	
              151

            

    

    

    EXHIBITS
      AND SCHEDULES:

     

    
      	
              Exhibit
                A

            	
              Form
                of Senior Certificate

            	
              A

            
	
              Exhibit
                B

            	
              Form
                of Subordinate Certificate

            	
              B

            
	
              Exhibit
                C-1

            	
              Form
                of Class C Certificate

            	
              C-1

            
	
              Exhibit
                C-2

            	
              Form
                of Class P Certificate

            	
              C-2

            
	
              Exhibit
                C-3

            	
              Form
                of Class R Certificate

            	
              C-3

            
	
              Exhibit
                D

            	
              Form
                of Reverse Certificate

            	
              D

            
	
              Exhibit
                E

            	
              [Reserved]

            	
              E

            
	
              Exhibit
                F

            	
              Request
                for Release

            	
              F

            
	
              Exhibit
                G-1

            	
              Form
                of Receipt of Mortgage Note

            	
              G-1

            
	
              Exhibit
                G-2

            	
              Form
                of Interim Certification of Trustee

            	
              G-2

            
	
              Exhibit
                G-3

            	
              Form
                of Final Certification of Trustee

            	
              G-3

            
	
              Exhibit
                H

            	
              Form
                of Lost Note Affidavit

            	
              H

            
	
              Exhibit
                I-1

            	
              Form
                of ERISA Representation for Residual Certificate

            	
              I-1

            
	
              Exhibit
                I-2

            	
              Form
                of ERISA Representation

            	
              I-2

            
	
              Exhibit
                J-1

            	
              Form
                of Investment Letter [Non-Rule 144A]

            	
              J-1

            
	
              Exhibit
                J-2

            	
              Form
                of Rule 144A Investment Letter

            	
              J-2

            
	
              Exhibit
                K

            	
              Form
                of Transferor Certificate

            	
              K

            
	
              Exhibit
                L

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

            	
              L

            
	
              Exhibit
                M

            	
              [Reserved].

            	
              M

            
	
              Exhibit
                N

            	
              List
                of Servicers and Servicing Agreements

            	
              N

            
	
              Exhibit
                O

            	
              Transaction
                Parties

            	
              O

            
	
              Exhibit
                P

            	
              [Reserved].

            	
              P

            
	
              Exhibit
                Q

            	
              Servicing
                Criteria

            	
              Q

            
	
              Exhibit
                R

            	
              Additional
                Form 10-D Disclosure

            	
              R

            
	
              Exhibit
                S

            	
              Additional
                Form 10-K Disclosure

            	
              S

            
	
              Exhibit
                T

            	
              Additional
                Form 8-K Disclosure

            	
              T

            
	
              Exhibit
                U

            	
              Additional
                Disclosure Notification

            	
              U

            
	
              Exhibit
                V

            	
              List
                of Originators and Purchase Agreements

            	
              N

            
	 	 	 
	
              Schedule
                I

            	
              Mortgage
                Loan Schedule

            	 

    

    

    
      
        
        

      

      
        iv

        
          

        

      

      
        
        

      

       

    

    This
      Pooling and Servicing Agreement is dated as of August 1, 2006 (the “Agreement”),
      among
      GREENWICH CAPITAL ACCEPTANCE, INC., a Delaware corporation, as depositor (the
      “Depositor”),
      GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a New York corporation, as seller
      (the “Seller”),
      WELLS
      FARGO BANK, N.A., a national banking association, as master servicer (in such
      capacity, the “Master
      Servicer”)
      and as
      securities administrator (in such capacity, the “Securities
      Administrator”),
      CLAYTON FIXED INCOME SERVICES INC., as credit risk manager (the “Credit
      Risk Manager”)
      and
      DEUTSCHE BANK NATIONAL TRUST COMPANY, a national banking association, as trustee
      and as a custodian (the “Trustee”).

     

    PRELIMINARY
      STATEMENT: 

     

    Through
      this Agreement, the Depositor intends to cause the issuance and sale of the
      HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series
      2006-8 (the “Certificates”)
      representing in the aggregate the entire beneficial ownership of the Trust
      Fund,
      the primary assets of which are the Mortgage Loans (as defined
      below).

     

    The
      Depositor intends to sell the Certificates, to be issued hereunder in multiple
      classes, which in the aggregate will evidence the entire beneficial ownership
      interest in the Trust Fund. The Certificates will consist of fifteen classes
      of
      certificates, designated as (i) the Class 1A-1 Certificates, (ii) the Class
      2A-1A Certificates, (iii) the Class 2A-1B Certificates, (iv) the Class 2A-1C
      Certificates, (v) the Class B-1 Certificates, (vi) the Class B-2 Certificates,
      (vii) Class B-3 Certificates, (viii) the Class B-4 Certificates, (ix) the Class
      B-5 Certificates, (x) the Class B-6 Certificates, (xi) the Class B-7
      Certificates, (xii) the Class B-8 Certificates, (xiii) the Class C Certificates,
      (xiv) the Class P Certificates and (xv) the Class R Certificates.

     

    For
      federal income tax purposes, the Trust Fund (exclusive of the assets held in
      the
      Basis Risk Reserve Fund, the Final Maturity Reserve Trust and the Final Maturity
      Reserve Account (the “Excluded
      Trust Property”))
      comprises two REMICs in a tiered REMIC structure—the “Lower-Tier
      REMIC”
and
      the
“Upper-Tier
      REMIC.”
Each
      Certificate, other than the Class R Certificate, shall represent ownership
      of a
      regular interest in the Upper-Tier REMIC, as described herein. The LIBOR
      Certificates also
      represent the right to receive (i) payments in respect of the Final Maturity
      Reserve Account and (ii) payments in respect of Basis Risk Shortfalls from
      the
      Basis Risk Reserve Fund as provided in Section 5.07. The owners of the Class
      C
      Certificates beneficially own the Basis Risk Reserve Fund, the Final Maturity
      Reserve Account and the Final Maturity Reserve Trust. The Class R Certificate
      represents the sole class of residual interest in the Upper-Tier
      REMIC.

     

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

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

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

     

    Lower-Tier
      REMIC

     

    The
      following table sets forth (or describes) the designation, interest rate, and
      initial principal balance of each Lower-Tier Interest in the Lower-Tier REMIC,
      each of which, other than the LT-R Lower-Tier Interest) is hereby designated
      as
      a regular interest in the Lower-Tier REMIC (the “Lower-Tier Regular
      Interests):

     

    
      	
               

              Designation

            	 	
               

              Interest
                Rate

            	 	
              Initial
                Principal

              Balance

            	 	
              Corresponding
                Class of Certificate

            	 
	
              LT-1A-1

            	 	 	
              (1)

            	
               

            	
              $

            	
              180,269,500.00

            	 	 	
              1A-1

            	 
	
              LT-2A-1A

            	 	 	
              (1)

            	
               

            	
              $

            	
              211,386,000.00

            	 	 	
              2A-1A

            	 
	
              LT-2A-1B

            	 	 	
              (1)

            	
               

            	
              $

            	
              88,077,500.00

            	 	 	
              2A-1B

            	 
	
              LT-2A-1C

            	 	 	
              (1)

            	
               

            	
              $

            	
              52,846,500.00

            	 	 	
              2A-1C

            	 
	
              LT-B-1

            	 	 	
              (1)

            	
               

            	
              $

            	
              14,910,000.00

            	 	 	
              B-1

            	 
	
              LT-B-2

            	 	 	
              (1)

            	
               

            	
              $

            	
              12,822,500.00

            	 	 	
              B-2

            	 
	
              LT-B-3

            	 	 	
              (1)

            	
               

            	
              $

            	
              2,982,000.00

            	 	 	
              B-3

            	 
	
              LT-B-4

            	 	 	
              (1)

            	
               

            	
              $

            	
              9,542,500.00

            	 	 	
              B-4

            	 
	
              LT-B-5

            	 	 	
              (1)

            	
               

            	
              $

            	
              4,175,000.00

            	 	 	
              B-5

            	 
	
              LT-B-6

            	 	 	
              (1)

            	
               

            	
              $

            	
              5,964,000.00

            	 	 	
              B-6

            	 
	
              LT-B-7

            	 	 	
              (1)

            	
               

            	
              $

            	
              3,876,500.00

            	 	 	
              B-7

            	 
	
              LT-B-8

            	 	 	
              (1)

            	
               

            	
              $

            	
              4,771,000.00

            	 	 	
              B-8

            	 
	
              LT-Q

            	 	 	
              (1)

            	
               

            	
              $

            	
              601,163,746.61

            	 	 	
              N/A

            	 
	
              LT-I

            	 	 	
              (2)

            	
               

            	 	
              (2)

            	
               

            	 	
              N/A

            	 
	
              LT-R

            	 	 	
              (3)

            	
               

            	 	
              (3)

            	
               

            	 	
              N/A

            	 

    

    
    

    
      

    

    
      	 	
              (1)

            	
              The
                interest rate with respect to any Distribution Date (and the related
                Accrual Period) for each of these Lower-Tier Regular Interests is
                a per
                annum rate equal to the Net WAC, provided, however, that for each
                Distribution Date on or after the Distribution Date in September
                2016, the
                Net WAC shall be computed for this purposes by reducing the Loan
                Rate on
                each Mortgage Loan by the Final Maturity Reserve Rate even if the
                aggregate Stated Principal Balance of the Mortgage Loans with 40-year
                original terms to maturity does not exceed balance ser forth in the
                Final
                Maturity Reserve Schedule for that Distribution Date.
                

            

    

     

    
      	 	
              (2)

            	
              The
                LT-I Interest is an interest only interest that does not have a principal
                balance but has a notional amount as of any Distribution Date equal
                to the
                Stated Principal Balances of the Mortgage Loans as of the first day
                of the
                related Due Period (or in the case of the first Distribution Date,
                as of
                the Cut-off Date). For any Distribution Date before the Distribution
                Date
                in August 2016, it shall bear interest for the related Accrual Period
                at a
                fixed rate of 0.00%, and for each Distribution Date on or after the
                Distribution Date in September 2016 to and including the Final Maturity
                Reserve Termination Date, it shall bear interest for the related
                Accrual
                Period at a fixed rate equal to the Final Maturity Reserve Rate.
                

            

    

     

    
      	 	
              (3)

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

            

    

    
       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

    

     

    On
      each
      Distribution Date, Available Funds shall be distributed in payment of principal
      on the Lower-Tier Regular Interests as follows: 

     

    
      	 	
              (i)

            	
              concurrently
                to the LT-1A-1, LT-2A-1A, LT-2A-1B, LT- 2A-1C, LT-B-1, LT-B-2, LT-B-3,
                LT-B-4, LT-B-5, LT-B-6, LT-B-7 and LT-B-8 Interests until the principal
                balance of each such Lower-Tier Regular Interest equals 50% of the
                Class
                Principal Balance of the Corresponding Class of Certificates immediately
                after such Distribution Date; 

            

    

    

    
      	 	
              (ii)

            	
              to
                the LT-Q Interest until its principal balance equals the excess,
                if any,
                of (I) the aggregate Pool Balance immediately after such Distribution
                Date
                over (II) the aggregate of the principal balances of the Lower-Tier
                Regular Interests (other than the LT-Q and the LT-I Interests) after
                taking into account distributions on such Distribution Date under
                priority
                (i) above; and 

            

    

    

    
      	 	
              (iii)

            	
              finally,
                to the Lower-Tier Regular Interests, as distributions of interest
                at the
                interest rates shown in the table
                above.

            

    

     

    On
      each
      Distribution Date, after taking into account principal distributions under
      priorities (i) and (ii) above, Realized Losses attributable to principal and
      any
      Net Deferred Interest shall each be allocated among the Lower-Tier Regular
      Interests in the same manner that principal is distributed among such Lower-Tier
      Regular Interests. 

     

    On
      each
      Distribution Date, Prepayment Penalty Amounts shall be distributed to the LT-Q
      Interest.

     

    Upper-Tier
      REMIC

     

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

     

    
      	
              Class

            	 	
              Original
                Class Principal Balance or Class
                Notional Balance

            	 	
              Pass-Through
                Rate

            	 
	
              Class
                1A-1

            	 	
              $

            	
              360,539,000

            	 	 	
              (1)

            	
               

            
	
              Class
                2A-1A (8)

            	 	
              $

            	
              422,772,000

            	 	 	
              (1)

            	
               

            
	
              Class
                2A-1B

            	 	
              $

            	
              176,155,000

            	 	 	
              (1)

            	
               

            
	
              Class
                2A-1C

            	 	
              $

            	
              105,693,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-1

            	 	
              $

            	
              29,820,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-2

            	 	
              $

            	
              25,645,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-3

            	 	
              $

            	
              5,964,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-4

            	 	
              $

            	
              19,085,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-5

            	 	
              $

            	
              8,350,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-6

            	 	
              $

            	
              11,928,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-7

            	 	
              $

            	
              7,753,000

            	 	 	
              (1)

            	
               

            
	
              Class
                B-8

            	 	
              $

            	
              9,542,000

            	 	 	
              (1)

            	
               

            
	
              Class
                C

            	 	 	
              (2)

            	
               

            	 	
              (2)

            	
               

            
	
              Class
                P

            	 	
              $

            	
              100.00

            	 	 	
              (3)

            	
               

            
	
              Class
                R

            	 	 	
              (4)

            	
               

            	 	
              (4)

            	
               

            

    

     

    
      
        

      

    

    
      	 	
              (1)

            	
              Calculated
                pursuant to the definition of “Pass-Through Rate.” For purposes of the
                REMIC Provisions, the reference to the Net WAC Cap in the definition
                of
                Pass-Through Rate shall be deemed to be a reference to a per annum
                rate
                equal to the product of (i) the weighted average of the interest
                rates on
                the Lower-Tier Regular Interests (other than the Class LT-I Interest)
                weighted on the basis of their principal balances as of the first
                day of
                the related Accrual Period) multiplied by (ii) the quotient of 30
                divided
                by the actual number of days in the accrual period. To the extent
                the
                Pass-Through Rate on any Class of Certificates exceeds such rate,
                interest
                distributions, to the extent of such excess, shall be deemed to have
                been
                made from the Basis Risk Reserve Fund.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (2)

            	
              The
                Class C Interest shall have an initial principal balance of $9,540,646.
                The Class C Interest also comprises a notional component having a
                notional
                amount that at all times will equal the aggregate of the principal
                balances of the Lower-Tier Regular Interests (i.e., the Pool Balance).
                For
                each Distribution Date (and the related Accrual Period), the notional
                component shall bear interest at a rate equal to the excess of (a)
                (i) the
                weighted average of the interest rates on the Lower-Tier Regular
                Interests
                (other than the LT- I Interest), weighted on the basis of the principal
                balance of each such Lower-Tier Interest, over (b) the Adjusted Lower-Tier
                WAC. For any Distribution Date, interest that accrues on the notional
                component of the Class C Interest shall be deferred to the extent
                of any
                increase in the Overcollateralized Amount on such date. Such deferred
                interest shall not itself bear interest. In addition, any Net Deferred
                Interest allocated to the Class C Certificate shall increase its
                principal
                balance. In addition to the rights set forth above, the Class C
                Certificates shall also evidence ownership of the LT-I Interest in
                the
                Lower-Tier REMIC.

            

    

     

    
      	 	
              (3)

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

            

    

     

    
      	 	
              (4)

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

            

    

     

    ARTICLE
      I

     

    DEFINITIONS;
      DECLARATION OF TRUST

     

    SECTION
      1.01. Defined Terms.

     

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

     

    “Accepted
      Master Servicing Practices”:
      With
      respect to any Mortgage Loan, as applicable, either (x) those customary mortgage
      servicing practices of prudent mortgage servicing institutions that master
      service mortgage loans of the same type and quality as such Mortgage Loan in
      the
      jurisdiction where the related Mortgaged Property is located, to the extent
      applicable to the Trustee (as successor Master Servicer) or the Master Servicer
      (except in its capacity as successor to any Servicer), or (y) as provided in
      the
      Servicing Agreements, to the extent applicable to the Servicers, but in no
      event
      below the standard set forth in clause (x).

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

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

     

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

     

    “Additional
      Disclosure Notification”:
      As
      defined in Section 3.19(a).

     

    “Additional
      Form 10-D Disclosure”:
      As
      defined in Section 3.19(a).

     

    “Additional
      Form 10-K Disclosure”:
      As
      defined in Section 3.19(b).

     

    “Adjusted
      Cap Rate”:
      Any of
      the Group 1 Adjusted Cap Rate, the Group 2 Adjusted Cap Rate or the Subordinate
      Adjusted Cap Rate.

     

    “Adjusted
      Lower-Tier WAC”:
      For
      any Distribution Date (and the related Accrual Period), the product of (i)
      2
      multiplied by (ii) the weighted average
      of
      the interest rates on the
      Lower-Tier Regular Interests, (other than the LT-I Interest) weighted on the
      basis of their principal balances as of the first day of the related Accrual
      Period and computed for this purpose by first (a) subjecting the interest rate
      on the LT-Q Interests to a cap of 0.00%, and (b) subjecting the interest rate
      on
      each of the LT-1A-1, LT-2A-1A, LT-2A-1B, LT-2A-1C, LT-B-1, LT-B-2, LT-B-3,
      LT-B-4, LT-B-5, LT-B-6, LT-B-7 and LT-B-8 Interests to a cap equal to the
      product of Pass-Through Rate for the Corresponding Class of Certificates for
      such Distribution Date multiplied by the quotient of the actual number of days
      in the Accrual Period divided
      by
      30.

     

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

     

    “Administrator”:
      Not
      Applicable.

     

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

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    “Allocated
      Realized Loss Amount”:
      For
      any Distribution Date and any Class of Offered Certificates, an amount equal
      the
      sum of any Realized Losses allocated to that Class of Certificates on such
      Distribution Date and any Allocated Realized Loss Amounts previously allocated
      to such Class pursuant to Section 5.03 minus
      any
      amounts distributed to such Class pursuant to Sections 5.01(a)(1)(iv) and (v)
      in
      respect of Allocated Realized Loss Amounts.

     

    “Apportioned
      Principal Balance”:
      With
      respect to any Class of Subordinate Certificates, either Loan Group and any
      Distribution Date, the Class Principal Balance of such Class immediately prior
      to such Distribution Date multiplied by a fraction, the numerator of which
      is
      the Subordinate Component for the related Loan Group for such date and the
      denominator of which is the sum of the Subordinate Components (in the aggregate)
      for such date.

     

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

     

    “Available
      Funds”:
      With
      respect to any Distribution Date and any Loan Group, an amount equal to
      (i) the sum, without duplication, of (a) the aggregate of the Monthly
      Payments received on or prior to the related Determination Date (excluding
      Monthly Payments due in future Due Periods but received by the related
      Determination Date) in respect of the Mortgage Loans in such Loan Group,
      (b) Net Liquidation Proceeds, Insurance Proceeds (including from primary
      mortgage insurance policies), Principal Prepayments (excluding Prepayment
      Penalty Amounts), Recoveries and other unscheduled recoveries of principal
      and
      interest in respect of the Mortgage Loans in such Loan Group received during
      the
      related Prepayment Period, (c) the aggregate of any amounts received in respect
      of REO Properties for such Distribution Date in respect of Mortgage Loans in
      such Loan Group, (d) the aggregate of any amounts of Interest Shortfalls
      (excluding for such purpose all shortfalls as a result of Relief Act Reductions)
      paid by the Servicers pursuant to the related Servicing Agreements and
      Compensating Interest Payments deposited in the Distribution Account for that
      Distribution Date in respect of the Mortgage Loans in such Loan Group,
      (e) the aggregate of the Purchase Prices, Substitution Adjustments,
      Repurchase Prices and other amounts collected for purchases or substitutions
      pursuant to Section 2.03 deposited in the Distribution Account during the
      related Prepayment Period in respect of the Mortgage Loans in such Loan Group,
      (f) the aggregate of any Advances made by the Servicers and Advances made
      by the Master Servicer for that Distribution Date in respect of the Mortgage
      Loans in such Loan Group, (g) the aggregate of any Advances made by the
      Trustee (as successor Master Servicer) for such Distribution Date pursuant
      to
      Section 7.02 hereof in respect of the Mortgage Loans in such Loan Group and
      (h) the Termination Price allocated to such Loan Group on the Distribution
      Date on which the Trust Fund is terminated; minus
      (ii) the sum of (w) to the extent of amounts attributable to interest,
      the Expense Fees for such Distribution Date in respect of the Mortgage Loans
      in
      such Loan Group, (x) to the extent of amounts attributable to interest or
      principal, as applicable,amounts in reimbursement for Advances previously made
      in respect of the Mortgage Loans in such Loan Group and other amounts as to
      which the Servicers, the Trustee, the Credit Risk Manager, the Securities
      Administrator, the Custodians and the Master Servicer are entitled to be
      reimbursed pursuant to Section 4.03, (y) first, to the extent of amounts
      attributable to interest , and second, if such amounts are insufficient, to
      the
      extent of amounts attributable to principal, the amount payable to the Trustee,
      the Master Servicer, the Custodians or the Securities Administrator pursuant
      to
      Section 8.05, Section 3.30(b) and Section 3.31(c) in respect of Mortgage Loans
      in such Loan Group or if not related to a Mortgage Loan, allocated to each
      Loan
      Group on a pro
      rata
      basis
      and (z) amounts deposited in the Distribution Account, as the case may be,
      in
      error, in respect of Mortgage Loans in such Loan Group.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

       

    

    “Bulk
      PMI Fee”:
      Not
      Applicable.

     

    “Bulk
      PMI Fee Rate”:
      Not
      Applicable.

     

    “Bulk
      PMI Policy”:
      Not
      Applicable.

     

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

     

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

     

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

     

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

     

    “Certificate
      Group 1”:
      At any
      time, the Group 1 Certificates.

     

    “Certificate
      Group 2”:
      At any
      time, the Group 2 Certificates.

     

    “Certificate
      Group”:
      Either
      Certificate Group 1 or Certificate Group 2, as the context
      requires.

     

    “Certificate
      Insurance Policy”:
      Not
      Applicable.

     

    “Certificate
      Insurer”:
      Not
      Applicable.

     

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

     

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

     

    “Certificate
      Register”
and
      “Certificate
      Registrar”:
      The
      register maintained and registrar appointed pursuant to Section 6.02 hereof,
      which initially shall be the Securities Administrator.

     

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

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

       

    

    “Certification
      Parties”:
      As
      defined in Section 3.18.

     

    “Certifying
      Person”:
      As
      defined in Section 3.18.

     

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

     

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

     

    “Class
      B-1 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-1 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date) and
      (ii)
      the Class Principal Balance of the Class B-1 Certificates immediately prior
      to
      such Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 79.500% and thereafter 83.600% and
      (ii) the aggregate Principal Balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate Principal Balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934.

     

    “Class
      B-2 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-2 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date) and (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 84.875% and thereafter 87.900% and
      (ii) the aggregate Principal Balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate Principal Balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

       

    

    “Class
      B-3 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-3 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date) and (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 86.125% and thereafter 88.900% and
      (ii) the aggregate Principal Balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate Principal Balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934.

     

    “Class
      B-4 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-4 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class M- 3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date) and (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 90.125% and thereafter 92.100% and
      (ii) the aggregate principal balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934. 

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    “Class
      B-5 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-5 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date) and (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 91.875% and thereafter 93.500% and
      (ii) the aggregate principal balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934. 

     

    “Class
      B-6 Principal Distribution Amount”:
      For any
      Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-6 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date), (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-5
      Principal Distribution Amount on such Distribution Date) and (vii) the Class
      Principal Balance of the Class B-6 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 94.375% and thereafter 95.500% and
      (ii) the aggregate principal balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    “Class
      B-7 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-7 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date), (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-5
      Principal Distribution Amount on such Distribution Date) (vii) the Class
      Principal Balance of the Class B-6 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-6
      Principal Distribution Amount on such Distribution Date) and (viii) the Class
      Principal Balance of the Class B-7 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 96.000% and thereafter 96.800% and
      (ii) the aggregate principal balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934.

     

    “Class
      B-8 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-7 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date), (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-5
      Principal Distribution Amount on such Distribution Date), (vii) the Class
      Principal Balance of the Class B-6 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-6
      Principal Distribution Amount on such Distribution Date), (viii) the Class
      Principal Balance of the Class B-7 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-7
      Principal Distribution Amount on such Distribution Date), (ix) the Class
      Principal Balance of the Class B-8 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 98.000% and thereafter 98.400% and
      (ii) the aggregate principal balance of the Mortgage Loans as of the last day
      of
      the related Due Period (after giving effect to scheduled payments of principal
      due during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $5,963,934.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    “Class
      C Distributable Amount”:
      With
      respect to any Distribution Date, the amount of interest that has accrued on
      the
      Class C Notional Balance, as described in the Preliminary Statement, but that
      has not been distributed pursuant to Section 5.01(a)(1)(iv)(R) hereof prior
      to
      such Distribution Date. In addition, such amount shall include the initial
      Overcollateralized Amount (less the $100 of such amount allocated to the Class
      P
      Certificates) to the extent such amount has not been distributed on prior
      Distribution Dates as part of the Overcollateralization Release
      Amount.

     

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

     

    “Class
      P Distributable Amount”:
      With
      respect to each Distribution Date, all Prepayment Penalty Amounts in respect
      of
      the Mortgage Loans received by the Servicers for the related Prepayment
      Period.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    “Class
      Principal Balance”:
      As to
      any Distribution Date, with respect to any Class of Certificates (other than
      the
      Class C and Class R Certificates), the Original Class Principal Balance as
      (a)
      reduced by the sum of (x) all amounts actually distributed in respect of
      principal of that Class on all prior Distribution Dates, (y) all Realized
      Losses, if any, actually
      allocated to that Class on all prior Distribution Dates and (z) in the case
      of
      the Subordinate Certificates, any applicable Writedown Amount, as increased
      by
      the amount of Deferred Interest allocated to such Class of Certificates on
      such
      Distribution Date as set forth in Section 5.02 and (b) increased pursuant to
      Sections 5.01(h) and 5.08; provided,
      that
      any amounts distributed to a Class in respect of Allocated Realized Loss Amounts
      pursuant to Sections 5.01(a)(1)(iv) and 5.01(h) will not further increase the
      Certificate Principal Balance of such Class. 

     

    “Class
      Subordination Percentage”:
      With
      respect to each Class of Subordinate Certificates and any Distribution Date,
      the
      percentage equivalent of a fraction the numerator of which is the Class
      Principal Balance of such Class immediately before such Distribution Date and
      the denominator of which is the aggregate of the Class Principal Balances of
      all
      Classes of Certificates immediately before such Distribution Date.

     

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

     

    “Closing
      Date”:
      August
      30, 2006.

     

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

     

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

     

    “Compensating
      Interest Payment”:
      With
      respect to any Distribution Date, an amount equal to the amount, if any, by
      which (x) the aggregate amount of any Interest Shortfalls (excluding for such
      purpose all shortfalls as a result of Relief Act Reductions) required to be
      paid
      by the Servicers pursuant to the related Servicing Agreement with respect to
      such Distribution Date, exceeds (y) the aggregate amount actually paid by the
      Servicers in respect of such shortfalls; provided,
      that
      such
      amount is limited to the Servicing Fee for such Distribution Date (which
      Servicing Fee in the case of the SRO Mortgage Loans shall be calculated on
      the
      basis of a rate of 0.125% per annum); provided,
      further,
      that
      such
      amount, to the extent payable by the Master Servicer (or the Trustee as
      successor Master Servicer), shall not exceed the aggregate Master Servicing
      Fee
      that would be payable to the Master Servicer (or the Trustee as successor Master
      Servicer) in respect of such Distribution Date without giving effect to any
      Compensating Interest Payment. 

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    “Corporate
      Trust Office”:
      With
      respect to the Trustee, the principal corporate trust office of the Trustee
      at
      which at any particular time its corporate trust business in connection with
      this Agreement shall be administered, which office at the date of the execution
      of this instrument is located at 1761 East St. Andrew Place, Santa Ana,
      California 92705, Attention: HarborView Trust 2006-8, or at such other address
      as the Trustee may designate from time to time by notice to the
      Certificateholders, the Depositor, the Master Servicer, the Securities
      Administrator and the Seller. With respect to the Securities Administrator
      and
      the Certificate Registrar and (i) presentment of Certificates for registration
      of transfer, exchange or final payment, Wells Fargo Bank, National Association,
      Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention:
      Corporate Trust, HarborView Mortgage Loan Trust 2006-8, and (ii) for all other
      purposes, P.O. Box 98, Columbia, Maryland 21046 (or for overnight deliveries,
      9062 Old Annapolis Road, Columbia, Maryland 21045), Attention: Corporate Trust,
      HarborView Mortgage Loan Trust 2006-8.

     

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

     

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

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    
      	 	 	
              Initial
                Credit Enhancement Percentage

            	 	
              Target
                Credit Enhancement Percentage before September 2012 or Stepdown
                Date

            	 	
              Target
                Credit Enhancement Percentage on or after September 2012 or Stepdown
                Date

            	 
	
              Senior

            	 	 	
              10.700

            	
              %

            	 	
              26.750

            	
              %

            	 	
              21.400

            	
              %

            
	
              B-1

            	 	 	
              8.200

            	
              %

            	 	
              20.500

            	
              %

            	 	
              16.400

            	
              %

            
	
              B-2

            	 	 	
              6.050

            	
              %

            	 	
              15.125

            	
              %

            	 	
              12.100

            	
              %

            
	
              B-3

            	 	 	
              5.550

            	
              %

            	 	
              13.875

            	
              %

            	 	
              11.100

            	
              %

            
	
              B-4

            	 	 	
              3.950

            	
              %

            	 	
              9.875

            	
              %

            	 	
              7.900

            	
              %

            
	
              B-5

            	 	 	
              3.250

            	
              %

            	 	
              8.125

            	
              %

            	 	
              6.500

            	
              %

            
	
              B-6

            	 	 	
              2.250

            	
              %

            	 	
              5.625

            	
              %

            	 	
              4.500

            	
              %

            
	
              B-7

            	 	 	
              1.600

            	
              %

            	 	
              4.000

            	
              %

            	 	
              3.200

            	
              %

            
	
              B-8

            	 	 	
              0.800

            	
              %

            	 	
              2.000

            	
              %

            	 	
              1.600

            	
              %

            

    

    

    “Credit
      Risk Management Agreement”:
      Either
      (i) any of the credit risk management agreements dated as of the Closing Date,
      entered into by the related Servicer and the Credit Risk Manager or (ii) the
      credit risk management agreement dated as of the Closing Date, entered into
      by
      the Master Servicer and the Credit Risk Manager, as applicable.

     

    “Credit
      Risk Manager”:
      Clayton Fixed Income Services Inc., a Colorado corporation, and its successors
      and assigns.

     

    “Credit
      Risk Manager’s Fee”:
      With
      respect to any Distribution Date and each Mortgage Loan, an amount equal to
      the
      product of (a) one twelfth, (b) the Credit Risk Manager’s Fee Rate and (c) the
      Scheduled Principal Balance of such Mortgage Loan as of the first day of the
      related Collection Period.

     

    “Credit
      Risk Manager’s Fee Rate”:
      0.0050% per annum.

     

    “Custodian”:
      Each
      of (i) Deutsche Bank National Trust Company and (ii) GMAC Bank, and their
      respective successors acting as custodian of the Mortgage Files.

     

    “Cut-off
      Date”:
      With
      respect to any Mortgage Loan other than a Qualified Substitute Mortgage Loan,
      the Close of Business in New York City on August 1, 2006. With respect to any
      Qualified Substitute Mortgage Loan, the date designated as such on the Mortgage
      Loan Schedule (as amended).

     

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

     

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

     

    “Deferred
      Interest”:
      With
      respect to each Mortgage Loan and each related Due Date, will be the excess,
      if
      any, of the amount of interest accrued on such Mortgage Loan from the preceding
      Due Date to such due date over the portion of the Monthly Payment allocated
      to
      interest for such Due Date.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    “Deficiency
      Amount”:
      Not
      Applicable. 

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Distribution
      Account”:
      The
      trust account or accounts created and maintained by the Securities Administrator
      pursuant to Section 4.02 hereof which shall be entitled “Distribution Account,
      Wells Fargo Bank, N.A., as Securities Administrator, on behalf of Deutsche
      Bank
      National Trust Company, as Trustee, in trust for the registered Holders of
      HarborView Mortgage Loan Trust, Mortgage Loan Pass-Through Certificates, Series
      2006-8” and which must be an Eligible Account.

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

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

     

    “Distribution
      Date”:
      The
      21st day of the month, or, if such day is not a Business Day, the next Business
      Day commencing in September 2006.

     

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

     

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

     

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

     

    “Eligible
      Account”:
      Any
      of:

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

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

     

    “ERISA-Restricted
      Certificates”:
      (i)
      the Class 2A-1B and Class 2A-1C Certificates, the Subordinate Certificates
      and
      the Residual Certificate and (ii) any Class 1A-1 or Class 2A-1A Certificates
      that are not rated at least “AA-” (or its equivalent) by at least one nationally
      rated statistical rating organization upon acquisition.

     

    “ERISA
      Restricted Trust Certificates”:
      The
      Class 1A-1 and Class 2A-1A Certificates.

     

    “Event
      of Default”:
      In
      respect of the Master Servicer, one or more of the events (howsoever described)
      set forth in Section 7.01 hereof as an event or events upon the occurrence
      and
      continuation of which the Master Servicer may be terminated.

     

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

     

    “Expense
      Fee”:
      With
      respect to any Mortgage Loan, the sum of (i) the Servicing Fee, (ii) the Master
      Servicing Fee, (iii) with respect to any Lender-Paid Mortgage Insurance Loan,
      the Lender-Paid Mortgage Insurance Fee and (iv) the Credit Risk Manager
      Fee.

     

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

     

    “Extra
      Principal Distribution Amount”:
      For
      any Distribution Date, is the lesser of (x) the Net Monthly Excess Cashflow
      for
      such Distribution Date and (y) the Overcollateralization Deficiency Amount
      for
      such Distribution Date.

     

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

     

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

     

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

     

    “Final
      Maturity Reserve Account”:
      The
      account created pursuant to Section 5.09 of this Agreement.

     

    “Final
      Maturity Reserve Amount”:
      For
      each Distribution Date prior to the Distribution Date in September 2016, zero.
      For each Distribution Date on the Distribution Date in September 2016 and on
      each Distribution Date thereafter until the Final Maturity Reserve Termination
      Date, the product of (x) the quotient of the Final Maturity Reserve Rate
divided
      by
      12 and
      (y) the aggregate Stated Principal Balance of the Mortgage Loans on the first
      day of the related Due Period (not including for this purpose Mortgage Loans
      for
      which prepayments in full have been received and distributed in the month prior
      to the Distribution Date).

     

    “Final
      Maturity Reserve Rate”:
      A per
      annum rate equal to the product of (i) 0.80% and (ii) a fraction, the numerator
      of which is the aggregate Stated Principal Balance as of the Cut-off Date of
      the
      Mortgage Loans having 40-year original terms to maturity and the denominator
      of
      which is aggregate Stated Principal Balance as of the Cut-off Date of all of
      the
      Mortgage Loans.

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

       

    

    “Final
      Maturity Reserve Termination Date”:
      With
      respect to each Distribution Date on or after the Distribution Date in September
      2016, the earlier of (1) the Final Distribution Date or (2) the termination
      of
      the Trust Fund.

     

    “Final
      Maturity Reserve Trust”:
      The
      corpus of a trust created pursuant to Section 5.09 of this Agreement and
      designated as the “Final Maturity Reserve Trust,” consisting of the Final
      Maturity Reserve Account, but which is not an asset of any REMIC.

     

    “Final
      Recovery Determination”:
      With
      respect to any defaulted Mortgage Loan or any REO Property (other than a
      Mortgage Loan or REO Property purchased by the Seller pursuant to or
      contemplated by Section 2.03, 3.25 and 10.01), a determination made by the
      related Servicer that all Insurance Proceeds, Liquidation Proceeds and other
      payments or recoveries which it expects to be finally recoverable in respect
      thereof have been so recovered.

     

    “Form
      8-K Disclosure Information”:
      As
      defined in Section 3.19(c).

     

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

     

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

     

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

     

    “Group
      1 Adjusted Cap Rate”:
      For
      any Distribution Date and for the Group 1 Certificates, the Net WAC Cap for
      such
      Distribution Date, determined by first reducing the Net WAC by a per annum
      rate
      equal to the product of (i) the Net Deferred Interest for Loan Group 1 for
      that
      Distribution Date multiplied by (ii) 12, divided
      by
      the Pool
      Balance for Loan Group 1 for such Distribution Date.

     

    “Group
      1 Certificates”:
      The
      Class 1A-1 Certificates.

     

    “Group
      1 Mortgage Loan”:
      A
      Mortgage Loan that is identified as such on the Mortgage Loan
      Schedule.

     

    “Group
      1 Principal Distribution Amount”:
      For
      any Distribution Date on or after the Stepdown Date and as long as a Trigger
      Event has not occurred or is not continuing with respect to such Distribution
      Date, will be the lesser of (a) the greater of (x) the Group 1 Senior Principal
      Distribution Amount and (y) the amount by which the aggregate Class Principal
      Balances of the Group 1 Certificates exceed the Stated Principal Balances of
      the
      Group 1 Mortgage Loans as of the last day of the related Prepayment Period
      (after giving effect to scheduled payments of principal due during the related
      Due Period, to the extent received or advanced, and unscheduled collections
      of
      principal received during the related Prepayment Period) and (b) the aggregate
      Class Principal Balance of the Group 1 Certificates; provided,
      however,
      that
      with respect to any such Distribution Date on which the aggregate Class
      Principal Balance of the Group 2 Certificates is reduced to zero, the Group
      2
      Senior Principal Distribution Amount available for distribution to the Senior
      Certificates in excess of the amount necessary to reduce the aggregate Class
      Principal Balance of the Group 2 Certificates to zero will be applied to
      increase the Group 1 Principal Distribution Amount (so long as any Class of
      Group 1 Certificates is outstanding).

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

       

    

    “Group
      1 Senior Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the excess of (x) the aggregate Class
      Principal Balance of the Group 1 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 73.25% and thereafter 78.60% and
      (ii)
      the aggregate Stated Principal Balances of the Group 1 Mortgage Loans as of
      the
      last day of the related Prepayment Period (after giving effect to scheduled
      payments of principal due during the related Due Period, to the extent received
      or advanced, and unscheduled collections of principal received during the
      related prepayment period) and (B) the aggregate Stated Principal Balances
      of
      the Group 1 Mortgage Loans as of the last day of the related Prepayment Period
      (after giving effect to scheduled payments of principal due during the related
      Due Period, to the extent received or advanced, and unscheduled collections
      of
      principal received during the related Prepayment Period) minus
      $2,018,693.

     

    “Group
      2 Adjusted Cap Rate”:
      For
      any Distribution Date and for the Group 2 Certificates, the Net WAC Cap for
      such
      Distribution Date, determined by first reducing the Net WAC by a per annum
      rate
      equal to the product of (i) the Net Deferred Interest for Loan Group 2 for
      that
      Distribution Date multiplied by (ii) 12, divided
      by
      the Pool
      Balance for Loan Group 2 for such Distribution Date.

     

    “Group
      2 Certificates”:
      The
      Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates.

     

    “Group
      2 Mortgage Loan”:
      A
      Mortgage Loan that is identified as such on the Mortgage Loan
      Schedule.

     

    “Group
      2 Principal Distribution Amount”:
      For
      any Distribution Date on or after the Stepdown Date and as long as a Trigger
      Event has not occurred or is not continuing with respect to such Distribution
      Date, will be the lesser of (a) the greater of (x) the Group 2 Senior Principal
      Distribution Amount and (y) the amount by which the aggregate Class Principal
      Balances of the Group 2 Certificates exceed the Stated Principal Balances of
      the
      Group 2 Mortgage Loans as of the last day of the related Prepayment Period
      (after giving effect to scheduled payments of principal due during the related
      Due Period, to the extent received or advanced, and unscheduled collections
      of
      principal received during the related Prepayment Period) and (b) the aggregate
      Class Principal Balance of the Group 2 Certificates; provided,
      however,
      that
      with respect to any such Distribution Date on which the aggregate Class
      Principal Balance of the Group 1 Certificates is reduced to zero, the Group
      1
      Senior Principal Distribution Amount available for distribution to the Senior
      Certificates in excess of the amount necessary to reduce the aggregate Class
      Principal Balance of the Group 1 Certificates to zero will be applied to
      increase the Group 2 Principal Distribution Amount (so long as any Class of
      Group 2 Certificates is outstanding).

     

    “Group
      2 Senior Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the excess of (x) the aggregate Class
      Principal Balance of the Group 2 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 73.25% and thereafter 78.60% and
      (ii)
      the aggregate Stated Principal Balances of the Group 2 Mortgage Loans as of
      the
      last day of the related Prepayment Period (after giving effect to scheduled
      payments of principal due during the related Due Period, to the extent received
      or advanced, and unscheduled collections of principal received during the
      related prepayment period) and (B) the aggregate Stated Principal Balances
      of
      the Group 2 Mortgage Loans as of the last day of the related Prepayment Period
      (after giving effect to scheduled payments of principal due during the related
      Due Period, to the extent received or advanced, and unscheduled collections
      of
      principal received during the related Prepayment Period) minus
      $3,945,241.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    “Indemnification
      Agreement”:
      Not
      Applicable.

     

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

     

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

     

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

     

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

     

    “IndyMac”:
      IndyMac Bank F.S.B., and its successors and assigns, in its capacity as an
      Originator and a Servicer.

     

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

     

    “Initial
      LIBOR Rate”:
      5.400%.

     

    “Initial
      Loan Group 1 Balance”:
      $403,738,577.90.

     

    “Initial
      Loan Group 2 Balance”:
      $789,048,168.71.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

       

    

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

     

    “Insured
      Certificates”:
      Not
      Applicable.

     

    “Insurer
      Premium Rate”:
      Not
      Applicable.

     

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

     

    “Interest
      Remittance Amount”:
      For
      any Distribution Date and Loan Group, the sum of (i) the portion of the
      Available Funds for such Distribution Date attributable to interest received
      or
      advanced with respect to the Mortgage Loans in such Loan Group and (ii)
      Principal Prepayments for such Loan Group received during the related Prepayment
      Period up to the amount of related Deferred Interest for such Distribution
      Date.

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

    “LIBOR
      Certificates”:
      The
      Class 1A-1, Class 2A-1A, Class 2A-1B, Class 2A-1C Certificates and the
      Subordinate Certificates.

     

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

     

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

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    “Loan
      Group”:
      Either
      of Loan Group 1 or Loan Group 2, as the context requires.

     

    “Loan
      Group Balance”:
      As to
      each Loan Group and any Distribution Date, the aggregate of the Stated Principal
      Balances, as of the Close of Business on the first day of the month preceding
      the month in which such Distribution Date occurs, of the Mortgage Loans in
      such
      Loan Group that were Outstanding Mortgage Loans on that day.

     

    “Loan
      Group 1”:
      At any
      time, the Group 1 Mortgage Loans in the aggregate and any REO Properties
      acquired in respect thereof.

     

    “Loan
      Group 2”:
      At any
      time, the Group 2 Mortgage Loans in the aggregate and any REO Properties
      acquired in respect thereof.

     

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

     

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

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

       

    

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

     

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

     

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

     

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

     

    “Master
      Servicer”:
      Wells
      Fargo Bank, N.A., or any successor Master Servicer appointed as herein
      provided.

     

    “Master
      Servicing Fee”:
      As to
      any Distribution Date and each related Mortgage Loan, an amount equal to the
      product of the applicable Master Servicing Fee Rate and the outstanding
      Principal Balance of such Mortgage Loan as of the first day of the related
      Due
      Period.

     

    “Master
      Servicing Fee Rate”:
      0.0035% per annum.

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Monthly
      Interest Distributable Amount”:
      With
      respect to each Class of Certificates (other than the Class C, Class P and
      Class
      R Certificates) and any Distribution Date, the amount of interest accrued during
      the related Accrual Period at the lesser of the related Pass-Through Rate and
      the related Adjusted Cap Rate on the Class Principal Balance of that Class
      immediately prior to that Distribution Date, in each case, reduced by any
      Prepayment Interest Shortfalls allocated to such Class and Relief Act Reductions
      (allocated to each Certificate based on its respective entitlements to interest
      irrespective of any Prepayment Interest Shortfalls or Relief Act Reductions
      for
      such Distribution Date) pursuant to Section 5.01; provided,
      however,
      that
      for purposes of compliance with the REMIC Provisions, (A) the Monthly Interest
      Distributable Amount for each Class of Subordinate Certificates shall be
      calculated by reducing the related Pass-Through Rate by a per annum rate equal
      to (i) 12 times the Subordinate Class Expense Share for such Class divided
      by
      (ii) the
      Class Principal Balance of such Class as of the beginning of the related Accrual
      Period and (B) such Class shall be deemed to bear interest at such Pass-Through
      Rate as so reduced for federal income tax purposes.

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

       

    

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

     

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

     

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

     

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

     

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

     

    “Mortgage
      Loan Purchase Agreement”:
      The
      Mortgage Loan Purchase Agreement between the Seller and the Depositor, dated
      as
      of August 1, 2006, regarding the transfer of the Mortgage Loans by the Seller
      to
      or at the direction of the Depositor.

     

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

     

    
      	
            	(i)	
              the
                Mortgage Loan identifying number;

            

    

     

    
      	 	
              (ii)

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

            

    

     

    
      	 	
              (iii)

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

            

    

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (iv)

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

            

    

     

    
      	 	
              (v)

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

            

    

     

    
      	 	
              (vi)

            	
              the
                original months to maturity;

            

    

     

    
      	 	
              (vii)

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

            

    

     

    
      	 	
              (viii)

            	
              the
                Loan-to-Value Ratio at origination;

            

    

     

    
      	 	
              (ix)

            	
              the
                Loan-to-Collateral Value Ratio at
                origination;

            

    

     

    
      	 	
              (x)

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

            

    

     

    
      	 	
              (xi)

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

            

    

     

    
      	 	
              (xii)

            	
              the
                stated maturity date;

            

    

     

    
      	 	
              (xiii)

            	
              the
                Servicing Fee Rate;

            

    

     

    
      	 	
              (xiv)

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

            

    

     

    
      	 	
              (xv)

            	
              the
                original principal balance of the Mortgage
                Loan;

            

    

     

    
      	 	
              (xvi)

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

            

    

     

    
      	 	
              (xvii)

            	
              the
                Index and Gross Margin specified in related Mortgage
                Note;

            

    

     

    
      	 	
              (xviii)

            	
              the
                next Adjustment Date, if
                applicable;

            

    

     

    
      	 	
              (xix)

            	
              the
                Maximum Loan Rate, if applicable;

            

    

     

    
      	 	
              (xx)

            	
              the
                Value of the Mortgaged Property;

            

    

     

    
      	 	
              (xxi)

            	
              the
                sale price of the Mortgaged Property, if
                applicable;

            

    

     

    
      	 	
              (xxii)

            	
              the
                product code;

            

    

     

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (xxiii)

            	
              whether
                the Mortgage Loan is a Lender-Paid Mortgage Insurance Loan, and the
                applicable Lender-Paid Mortgage Insurance Fee Rate, if
                applicable;

            

    

     

    
      	 	
              (xxiv)

            	
              the
                Expense Fee Rate therefor; 

            

    

     

    
      	 	
              (xxv)

            	
              the
                respective Loan Group; and

            

    

     

    
      	 	
              (xxvi)

            	
              whether
                the Mortgage Loan is a SRO Mortgage
                Loan.

            

    

     

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

    

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

     

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

     

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

     

    “Mortgagor”:
      The
      obligor on a Mortgage Note.

     

    “MTA”:
      The
      twelve-month average yields on United States Treasury securities adjusted to
      a
      constant maturity of one year as published by the Federal Reserve Board in
      Statistical Release H.15(519).

     

    “MTA
      Indexed”:
      Indicates a Mortgage Loan that has an adjustable Loan Rate calculated on the
      basis of the MTA index.

     

    “Net
      Deferred Interest”:
      With
      respect to each Loan Group and any Distribution Date, the greater of (i) the
      excess, if any, of the Deferred Interest for the related Due Date over the
      aggregate amount of any principal prepayments in part or in full received during
      the related Prepayment Period and (ii) zero.

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

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

     

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

     

    “Net
      Loan Rate”:
      With
      respect to any Mortgage Loan (or the related REO Property), as of any date
      of
      determination, a per annum rate of interest equal to the then applicable Loan
      Rate for such Mortgage Loan minus
      the
      Expense Fee Rate and on the Distribution Date in September 2016 and on each
      Distribution Date thereafter until the Final Maturity Reserve Termination Date,
      if the aggregate Stated Principal Balance of the Mortgage Loans with 40-year
      original terms to maturity at the end of the related Due Period is greater
      than
      the balance set forth in the Final Maturity Reserve Schedule for that
      Distribution Date, the Final Maturity Reserve Rate.

     

    “Net
      Maximum Rate”:
      For
      any Mortgage Loan and any Distribution Date, the maximum rate at which interest
      could accrue on such Mortgage Loan net of the sum of (a) the Expense Fee Rate
      and (b) on the Distribution Date in September 2016 and on each Distribution
      Date
      thereafter until the Final Maturity Reserve Termination Date, if the aggregate
      Stated Principal Balance of the Mortgage Loans with 40-year original terms
      to
      maturity at the end of the related Due Period is greater than the balance set
      forth in the Final Maturity Reserve Schedule for that Distribution Date, the
      Final Maturity Reserve Rate.

     

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

     

    “Net
      Monthly Excess Cashflow”:
      For
      any Distribution Date is equal to the sum of (a) any Overcollateralization
      Release Amount and (b) the excess of (x) the Available Funds for such
      Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly
      Interest Distributable Amounts for the LIBOR Certificates, (B) the Unpaid
      Interest Shortfall Amounts for the Class 1A-1, Class 2A-1A, Class 2A-1B and
      Class 2A-1C Certificates and (C) the Principal Remittance Amount.

     

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

     

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

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

     

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

     

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

     

    “NIM
      Securities”:
      Any
      net interest margin securities issued by a trust or other special purpose entity
      pursuant to an Indenture, the principal assets of such issuing entity include
      the Class P and Class C Certificates and the payments received thereon, which
      principal assets back such securities.

     

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

     

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

     

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

     

    “Offered
      Certificates”:
      The
      Class 1A-1, Class 2A-1A, Class 2A-1B, Class 2A-1C, Class B-1, Class B-2, Class
      B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates.

     

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

     

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

     

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

     

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

     

    “Originator”:
      Each
      party listed as an “Originator” on Exhibit V hereto.

     

    “OTS”:
      The
      Office of Thrift Supervision.

     

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

    “Overcollateralization
      Target Amount”:
      With
      respect to any Distribution Date, an amount equal to (i) prior to the Stepdown
      Date, 0.80% of the sum of the aggregate Stated Principal Balance of the Mortgage
      Loans as of the Cut-off Date, (ii) on or after the Stepdown Date so long as
      a
      Trigger Event is not in effect, the greater of (x) (I) 2.00% of the aggregate
      Stated Principal Balance of the Mortgage Loans prior to the Distribution Date
      in
      September 2012 or (II) 1.60% of the aggregate Stated Principal Balance of the
      Mortgage Loans on or after the Distribution Date in September 2012 and (y)
      0.50%
      of the aggregate Stated Principal Balance of the Mortgage Loans as of the
      Cut-off Date; or (iii) on or after the Stepdown Date and if a Trigger Event
      is
      in effect, the Overcollateralization Target Amount for the immediately preceding
      Distribution Date.

     

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

     

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

     

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

     

    
      	 	
              (i)

            	
              The
                Pass-Through Rate for the Class 1A-1 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.200%
                per annum (0.400% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (ii)

            	
              The
                Pass-Through Rate for the Class 2A-1A Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.190%
                per annum (0.380% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (iii)

            	
              The
                Pass-Through Rate for the Class 2A-1B Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.250%
                per annum (0.500% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (iv)

            	
              The
                Pass-Through Rate for the Class 2A-1C Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.280%
                per annum (0.560% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (v)

            	
              The
                Pass-Through Rate for the Class B-1 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.390%
                per annum (0.585% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (vi)

            	
              The
                Pass-Through Rate for the Class B-2 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.400%
                per annum (0.600% after Call-Option Date), (ii) the Net WAC Cap for
                that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (vii)

            	
              The
                Pass-Through Rate for the Class B-3 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.440%
                per annum (0.660% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (viii)

            	
              The
                Pass-Through Rate for the Class B-4 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.550%
                per annum (0.825% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (ix)

            	
              The
                Pass-Through Rate for the Class B-5 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                0.600%
                per annum (0.900% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (x)

            	
              The
                Pass-Through Rate for the Class B-6 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                1.250%
                per annum (1.875% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      	 	
              (xi)

            	
              The
                Pass-Through Rate for the Class B-7 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                2.300%
                per annum (3.450% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (xii)

            	
              The
                Pass-Through Rate for the Class B-8 Certificates with respect to
                any
                Distribution Date shall equal the least of (i) One-Month LIBOR plus
                1.750%
                per annum (2.625% after the Call-Option Date), (ii) the Net WAC Cap
                for that Distribution Date and (iii) the Net Maximum Rate
                Cap.

            

    

     

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

     

    “PCAOB”:
      The
      Public Company Accounting Oversight Board.

     

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

     

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

     

    
      	 	
              (i)

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

            

    

     

    
      	 	
              (ii)

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

            

    

     

    
      	 	
              (iii)

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

            

    

     

    
      	 	
              (iv)

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

            

    

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (v)

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

            

    

     

    
      	 	
              (vi)

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

            

    

     

    
      	 	
              (vii)

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

            

    

     

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

     

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

     

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

     

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

     

    “Pool
      Balance”:
      As to
      any Distribution Date, the aggregate of the Stated Principal Balances, as of
      the
      Close of Business on the first day of the related Due Period, of the Mortgage
      Loans in all Loan Groups that were Outstanding Mortgage Loans on that
      day.

     

    “Premium
      Amount”:
      Not
      Applicable

     

    
      
        
        

      

      
        35

        
          

        

      

      
        
        

      

    

     

    “Premium
      Proceeds”:
      The
      amount by which the Termination Price paid in connection with the termination
      pursuant to Section 10.01 hereof exceeds the sum of (i) accrued and unpaid
      interest and unpaid principal on the Certificates, (ii) any unreimbursed
      Servicing Advances and Advances and any unpaid Master Servicing Fees and
      Servicing Fees and (iii) all amounts, if any, then due and owing to the Trustee,
      the Master Servicer and the Securities Administrator, the Credit Risk Manager
      under this Agreement.

     

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

     

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

     

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

     

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

     

    “Principal
      Deficiency Amount”:
      For
      any Distribution Date and for any Undercollateralized Group, the excess, if
      any,
      of the aggregate Class Principal Balance of such Undercollateralized Group
      immediately prior to such Distribution Date over the sum of the Principal
      Balances of the Mortgage Loans in the related Loan Group immediately prior
      to
      such Distribution Date.

     

    “Principal
      Distribution Amount”:
      For
      any Distribution Date and Loan Group, the excess of (x) the related Principal
      Remittance Amount reduced by the lesser of (a) Principal Prepayments received
      for the related Loan Group during the related Prepayment Period and (b) the
      amount of Deferred Interest added to the Principal Balance of the Mortgage
      Loans
      in the related Loan Group on the Due Date in the month of such Distribution
      Date
      over (y) such Loan Group’s pro rata share, based on the aggregate outstanding
      Principal Balance of the Mortgage Loans, of the Overcollateralization Release
      Amount for such Distribution Date.

     

    “Principal
      Remittance Amount”:
      With
      respect to each Loan Group and any Distribution Date, the sum of (a) each
      scheduled payment of principal collected or advanced on the related Mortgage
      Loans (before taking into account any Deficient Valuations or Debt Service
      Reductions) by the related Servicer or the Master Servicer in respect of the
      related Due Period, (b) that portion of the Purchase Price or Repurchase
      Price, as applicable, representing principal of any repurchased Mortgage Loan
      in
      that Loan Group, deposited to the Distribution Account during the related
      Prepayment Period, (c) the principal portion of any related Substitution
      Adjustments with respect to that Loan Group deposited in the Distribution
      Account during the related Prepayment Period, (d) the principal portion of
      all Insurance Proceeds received during the related Prepayment Period with
      respect to Mortgage Loans in that Loan Group that are not yet Liquidated
      Mortgage Loans, (e) the principal portion of all Net Liquidation Proceeds
      received during the related Prepayment Period with respect to Liquidated
      Mortgage Loans in that Loan Group other than Recoveries, (f) all Principal
      Prepayments in part or in full on Mortgage Loans received by the related
      Servicer during the related Prepayment Period,
      net of
      Deferred Interest,
      (g) all
      Recoveries related to that Loan Group received during the related Prepayment
      Period, (h) the outstanding principal balance of each Mortgage Loan purchased
      from the Trust Fund by the NIMS Insurer (in the case of certain Mortgage Loans
      90 days or more delinquent) and (i) on
      the Distribution Date on which the Trust Fund is to be terminated pursuant
      to
      Section 10.01 hereof, that portion of the Termination Price in respect of
      principal for that Loan Group.

     

    
      
        
        

      

      
        36

        
          

        

      

      
        
        

      

       

    

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

     

    “Private
      Certificates”:
      The
      Class B-8, Class C, Class P and Class R Certificates.

     

    “Private
      Placement Memorandum”:
      The
      Private Placement Memorandum dated June 27, 2006 relating to the initial sale
      of
      the Class B-8 Certificates.

     

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

     

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

     

    “Prospectus”:
      The
      Prospectus Supplement, together with the accompanying prospectus, dated April
      26, 2006, relating to the Offered Certificates.

     

    “Prospectus
      Supplement”:
      That
      certain prospectus supplement dated August 28, 2006, relating to the initial
      offering of the Offered Certificates.

     

    “Purchase
      Agreement”:
      Each
      mortgage loan purchase agreement and/or assignment agreement relating to the
      acquisition by the Seller of the Mortgage Loans and between the related
      Originator and the Seller, listed on Exhibit V hereto.

     

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

     

    
      
        
        

      

      
        37

        
          

        

      

      
        
        

      

    

     

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

     

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

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

       

    

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        40

        
          

        

      

      
        
        

      

       

    

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

     

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

     

    “Remittance
      Report”:
      The
      Master Servicer’s Remittance Report to the Securities Administrator providing
      information with respect to each Mortgage Loan which is provided no later than
      the second Business Day following each Determination Date and which shall
      contain such information as may be agreed upon by the Master Servicer and the
      Securities Administrator and which shall be sufficient to enable the Securities
      Administrator to prepare the related Distribution Date Statement.

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

    “Residual
      Certificate”:
      The
      Class R Certificates.

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        42

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

    “Senior
      Certificate”:
      Any
      one of the Class 1A-1, Class 2A-1A, Class 2A-1B and Class 2A-1C
      Certificates.

     

    “Senior
      Certificate Group”:
      Either
      (a) the Class 1A-1 Certificates with respect to Loan Group 1 or (b) the Class
      2A-1A, Class 2A-1B and Class 2A-1C Certificates with respect to Loan Group
      2.

     

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

     

    “Senior
      Credit Support Depletion Date”:
      The
      date on which the Class Principal Balance of each Class of Subordinate
      Certificates has been reduced to zero.

     

    “Senior
      Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the sum of (i) the Group 1 Senior
      Principal Distribution Amount and (ii) the Group 2 Senior Principal Distribution
      Amount.

     

    “Senior
      Termination Date”:
      For
      each Senior Certificate Group, the Distribution Date on which the aggregate
      of
      the Class Principal Balances of the related Senior Certificates is reduced
      to
      zero.

     

    “Servicer”:
      Each
      of GMAC Mortgage Corporation, IndyMac Bank, F.S.B., Paul Financial, LLC and
      Washington Mutual Bank, as primary servicers of the Mortgage Loans as set forth
      and as individually defined in the Mortgage Loan Schedule hereto and any
      successors thereto.

     

    “Servicer
      Remittance Date”:
      With
      respect to each Mortgage Loan serviced by any Servicer other than Washington
      Mutual, the 18th day of each month, or if such 18th day is not a Business Day,
      the preceding Business Day. With respect to each Mortgage Loan serviced by
      Washington Mutual, the 18th day of each month, or if such 18th day is not a
      Business Day, the next Business Day; provided,
      however,
      that if
      both the eighteenth (18th) and the nineteenth (19th) day of a particular month
      are not Business Days, the Servicer Remittance Date for Washington Mutual will
      be the Business Day immediately preceding the eighteenth (18th) day of that
      month.

     

    
      
        
        

      

      
        43

        
          

        

      

      
        
        

      

       

    

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

     

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

     

    “Servicing
      Agreement”:
      Each
      reconstituted servicing agreement set forth on Exhibit N hereto and relating
      to
      a Servicer and the servicing of the related Mortgage Loans by such Servicer,
      as
      the same may be amended from time to time.

     

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

     

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

     

    “Servicing
      Fee Rate”:
      With
      respect to each Mortgage Loan, the per annum rate of 0.3750%. 

     

    “Servicing
      Function Participant”:
      Any
      Subservicer or Subcontractor of a Servicer, the Master Servicer, a Custodian
      and
      the Securities Administrator, respectively.

     

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

     

    “Servicing
      Rights”:
      With
      respect to any SRO Mortgage Loan, any and all of the following: (a) the right,
      under the Servicing Agreement, to terminate the related SRO Servicer as servicer
      of the Mortgage Loan, with or without cause, subject to Section 3.03 of this
      Agreement; (b) the right, under the Servicing Agreement, to transfer the
      Servicing Rights and/or all servicing obligations with respect to such Mortgage
      Loan, subject to Section 3.03 of this Agreement; (c) the right to receive the
      Servicing Fee, less an amount to be retained by the related SRO Servicer as
      its
      servicing compensation as agreed to by the Servicing Rights Owner and the
      related SRO Servicer, subject to Section 3.03 of this Agreement, and (d) all
      powers and privileges incident to any of the foregoing.

     

    
      
        
        

      

      
        44

        
          

        

      

      
        
        

      

    

     

    “Servicing
      Rights Owner”:
      With
      respect to the SRO Mortgage Loans, GCFP or any successor or assign of
      GCFP.

     

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

     

    “SRO
      Mortgage Loans”:
      Any
      Mortgage Loans for which GMAC Mortgage Corporation is the SRO Servicer and
      GCFP
      is the Servicing Rights Owner, and which are identified in the Mortgage Loan
      Schedule.

     

    “SRO
      Servicer”:
      GMAC
      Mortgage Corporation in its capacity as Servicer of SRO Mortgage Loans.

     

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

     

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

     

    “Stepdown
      Date”:
      The
      earlier to occur of (i) the first Distribution Date on which the aggregate
      Certificate Principal Balance of the Class 1A-1, Class 2A-1A, Class 2A-1B and
      Class 2A-1C Certificates has been reduced to zero and (ii) the later to occur
      of
      (x) the Distribution Date occurring in September 2009 and (y) the first
      Distribution Date on which the Credit Enhancement Percentage (calculated for
      this purpose only after taking into account distributions of principal on the
      Mortgage Loans and before distribution of the Principal Distribution Amount
      to
      the holders of the Certificates then entitled to distributions of principal
      on
      such Distribution Date) is greater than or equal to (a) prior to the
      Distribution Date in September 2012, 26.75% and (b) on or after the Distribution
      Date in September 2012, 21.40%.

     

    
      
        
        

      

      
        45

        
          

        

      

      
        
        

      

       

    

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

     

    “Subordinate
      Adjusted Cap Rate”:
      For
      any Distribution Date and the Subordinate Certificates, the Net WAC cap for
      such
      distribution date, computed for this purposes by (a) first reducing the Net
      WAC
      for Loan Group 1 by a per annum rate equal to the product of (i) the Net
      Deferred Interest for Loan Group 1 for that Distribution Date multiplied by
      (ii)
      12, divided
      by
      the Pool
      Balance for Loan Group 1 for such Distribution Date, and (b) by first reducing
      the Net WAC for Loan Group 2 by a per annum rate equal to the product of (i)
      the
      Net Deferred Interest for Loan Group 2 for that Distribution Date multiplied
      by
      (ii) 12, divided
      by
      the Pool
      Balance for Loan Group 2 for such Distribution Date.

     

    “Subordinate
      Certificate”:
      Any of
      the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6, Class
      B-7
      or Class B-8 Certificates.

    

    “Subordinate
      Class Expense Share”:
      For
      each Class of Subordinate Certificates and each Accrual Period, the Subordinate
      Class Expense Share shall be allocated in reverse order of their respective
      numerical Class designations (beginning with the Class of Subordinate
      Certificates with the highest numerical Class designation) and will be an amount
      equal to (i) the sum of, without duplication, (a) the amounts paid to the
      Trustee from the Trust Fund during such Accrual Period pursuant to Section
      8.05
      hereof to the extent such amounts were paid for ordinary or routine expenses
      and
      were not taken into account in computing the Net Loan Rate of any Mortgage
      Loan
      and (b) amounts described in clause (y) of the definition of Available Funds
      herein to the extent such amounts were paid for ordinary or routine expenses
      and
      were not taken into account in computing the Net Loan Rate of any Mortgage
      Loan
minus
      (ii)
      amounts taken into account under clause (i) of this definition in determining
      the Subordinate Class Expense Share of any Class of Subordinate Certificates
      having a higher numeric designation. In no event, however, shall the Subordinate
      Class Expense Share for any Class of Subordinate Certificates and any Accrual
      Period exceed the product of (i) (a) the lesser of the Pass-Through Rate for
      such Class or the Subordinate Adjusted Cap Rate, divided
      by
      (b) 12
      and (ii) the Class Principal Amount of such Class of Subordinate Certificates
      as
      of the beginning of the related Accrual Period.

     

    “Subordinate
      Component”:
      With
      respect to each Loan Group and any Distribution Date, the excess of the sum
      of
      the related Loan Group Balance for such Distribution Date over the aggregate
      Class Principal Balance of the related Senior Certificate Group immediately
      preceding such Distribution Date. The designation “1” and “2” appearing after
      the corresponding Loan Group designation is used to indicate a Subordinate
      Component allocable to Loan Group 1 and Loan Group 2, respectively.

     

    “Subservicer”:
      Any
      Person that services Mortgage Loans on behalf of a Servicer, the Master
      Servicer, the Securities Administrator or a Custodian, and is responsible for
      the performance (whether directly or through subservicers or Subcontractors)
      of
      servicing functions required to be performed under this Agreement, any related
      Servicing Agreement or any subservicing agreement that are identified in Item
      1122(d) of Regulation AB.

     

    
      
        
        

      

      
        46

        
          

        

      

      
        
        

      

       

    

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    (a) the
      sum
      of the percentages obtained by dividing (x) the aggregate Stated Principal
      Balance of Mortgage Loans delinquent 60 days or more, that are in foreclosure
      or
      that are REO Properties by (y) the aggregate Stated Principal Balance of the
      Mortgage Loans, in each case, as of the last day of the previous calendar month,
      exceeds (i) prior to the Distribution Date in September 2012, 27.10% of the
      current Credit Enhancement Percentage or (ii) on or after the Distribution
      Date
      in September 2012, 33.88% of the current Credit Enhancement Percentage;
      or

     

    
      
        
        

      

      
        47

        
          

        

      

      
        
        

      

       

    

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

     

    
      	
              Distribution
                Date Occurring in:

            	 	 	
              Percentage:

            	 
	
              September
                2008 –
                August
                2009

            	 	 	
              0.20%
                for the first month plus an additional 1/12th
                of 0.25% for each month thereafter

            	 
	
              September
                2009 – August 2010

            	 	 	
              0.45%
                for the first month plus an additional 1/12th
                of 0.35% for each month thereafter

            	 
	
              September
                2010 – August 2011

            	 	 	
              0.80%
                for the first month plus an additional 1/12th
                of 0.35% for each month thereafter

            	 
	
              September
                2011 – August 2012 

            	 	 	
              1.15%
                for the first month plus an additional 1/12th
                of 0.40% for each month thereafter

            	 
	
              September
                2012 – August 2013 

            	 	 	
              1.55%
                for the first month plus an additional 1/12th
                of 0.15% for each month thereafter

            	 
	
              September
                2013 and thereafter

            	 	 	
              1.70%

            	
               

            

    

    

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

     

    “Trustee”:
      Deutsche Bank National Trust Company, not in its individual capacity but solely
      as trustee, a national banking association, its successors or assigns, or any
      successor trustee appointed as herein provided.

     

    “Trustee
      Fee”:
      The
      annual on-going fee as agreed to by the Trustee and the Master Servicer and
      payable by the Master Servicer on behalf of the Trust Fund to the Trustee from
      the Master Servicer’s own funds pursuant to the terms of the separate fee letter
      agreement between the Trustee and the Master Servicer.

     

    
      
        
        

      

      
        48

        
          

        

      

      
        
        

      

       

    

    “Undercollateralized
      Group”:
      With
      respect to any Distribution Date and any Loan Group as to which the aggregate
      Class Principal Balance of the related Classes of Senior Certificates, after
      giving effect to distributions pursuant to Section 5.01(a) on such date, is
      greater than the Loan Group Balance of the related Loan Group for such
      Distribution Date, such Classes of Senior Certificates shall constitute an
      Undercollateralized Group.

     

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

     

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

     

    “United
      States Person”
or
      “U.S.
      Person”:
      A
      citizen or resident of the United States, a corporation, partnership or other
      entity treated as a corporation or partnership for federal income tax purposes
      (other than a partnership that is not treated as a U.S. Person pursuant to
      any
      applicable Treasury regulations) created or organized in, or under the laws
      of,
      the United States, any state thereof or the District of Columbia, or an estate
      the income of which 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. The
      term “United States” shall have the meaning set forth in Section 7701 of
      the Code or successor provisions.

     

    “Unpaid
      Basis Risk Shortfall”:
      For
      each Class of Offered Certificates and any Distribution Date, the aggregate
      of
      all Basis Risk Shortfalls for such Class remaining unpaid from all previous
      Distribution Dates, together with interest thereon at the applicable
      Pass-Through Rate, computed without regard to the applicable Net WAC Cap, but
      limited to a rate no greater than the Net Maximum Rate Cap.

     

    “Unpaid
      Interest Shortfall Amount”:
      For
      each class of Offered Certificates (other than the Class C and Class P
      Certificates) and any Distribution Date, the amount, if any, by which (a) the
      sum of (1) the Monthly Interest Distributable Amount for such Class for the
      immediately preceding Distribution Date and (2) the outstanding Unpaid Interest
      Shortfall Amount, if any, for such Class for such preceding Distribution Date
      exceeds (b) the aggregate amount distributed on such Class in respect of
      interest pursuant to clause (a) of this definition on such preceding
      Distribution Date, plus
      interest
      on the amount of interest due but not paid on the Certificates of such Class
      on
      such preceding Distribution Date, to the extent permitted by law, at the
      applicable Pass-Through Rate for such Class for the related Accrual
      Period.

     

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

     

    
      
        
        

      

      
        49

        
          

        

      

      
        
        

      

       

    

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

     

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

     

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

     

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

     

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

     

    “Washington
      Mutual”:
      Washington Mutual Bank, and its successors and assigns, in its capacity as
      an
      Originator and a Servicer.

     

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

     

    “Yield
      Maintenance Account”:
      Not
      Applicable.

     

    “Yield
      Maintenance Agreement”:
      Not
      Applicable.

     

    “Yield
      Maintenance Provider”:
      Not
      Applicable.

     

    “Yield
      Maintenance Trust”:
      Not
      Applicable.

     

    “Yield
      Maintenance Trust Account”:
      Not
      Applicable.

     

    
      
        
        

      

      
        50

        
          

        

      

      
        
        

      

    

     

    SECTION
      1.02. Accounting.

     

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

     

    ARTICLE
      II

     

    CONVEYANCE
      OF MORTGAGE LOANS;

    ORIGINAL
      ISSUANCE OF CERTIFICATES

     

    SECTION
      2.01. Conveyance of Mortgage Loans.

     

    The
      Depositor, concurrently with the execution and delivery hereof, does hereby
      transfer, assign, set over and otherwise convey to the Trustee without recourse
      for the benefit of the Certificateholders all the right, title and interest
      of
      the Depositor, including any security interest therein for the benefit of the
      Depositor, in and to (i) each Mortgage Loan identified on the Mortgage Loan
      Schedule, including the related Cut-off Date Principal Balance, all interest
      due
      thereon after the Cut-off Date and all collections in respect of interest and
      principal due after the Cut-off Date; (ii) all the Depositor’s right, title and
      interest in and to the Distribution Account and all amounts from time to time
      credited to and to the proceeds of the Distribution Account; (iii) any real
      property that secured each such Mortgage Loan and that has been acquired by
      foreclosure or deed in lieu of foreclosure; (iv) the Depositor’s interest in any
      insurance policies in respect of the Mortgage Loans; (v) all proceeds of any
      of
      the foregoing; and (vi) all other assets included or to be included in the
      Trust
      Fund; provided
      that
      such assignment shall not include any Servicing Rights with respect to SRO
      Mortgage Loans. Such assignment includes all interest and principal due to
      the
      Depositor or the Master Servicer after the Cut-off Date with respect to the
      Mortgage Loans. In exchange for such transfer and assignment, the Depositor
      shall receive the Certificates.

     

    Notwithstanding
      anything provided herein to the contrary, each of the parties hereto agrees
      and
      acknowledges that, notwithstanding the transfer, conveyance and assignment
      of
      the Mortgage Loans from the Depositor to the Trustee pursuant to this Agreement,
      the Servicing Rights Owner remains the sole and exclusive owner of the related
      Servicing Rights with respect to the SRO Mortgage Loans.

     

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

     

    
      
        
        

      

      
        51

        
          

        

      

      
        
        

      

       

    

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

     

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

     

    
      	
            	(i)	
              the
                original Mortgage Note, endorsed either on its face or by allonge
                attached
                thereto in blank or in the following form: “Pay to the order of Deutsche
                Bank National Trust Company, as Trustee for HarborView Mortgage Loan
                Trust
                Mortgage Loan Pass-Through Certificates, Series 2006-8, without recourse”,
                or with respect to any lost Mortgage Note, an original Lost Note
                Affidavit
                stating that the original mortgage note was lost, misplaced or destroyed,
                together with a copy of the related mortgage note; provided,
                however,
                that such substitutions of Lost Note Affidavits for original Mortgage
                Notes may occur only with respect to Mortgage Loans the aggregate
                Cut-off
                Date Principal Balance of which is less than or equal to 2% of the
                Cut-off
                Date Aggregate Principal Balance;

            

    

     

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

            

    

     

    
      
        
        

      

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

            

    

     

    
      	
            	(iv)	
              in
                the case of each Mortgage Loan that is not a MERS Mortgage Loan,
                an
                original Assignment, in form and substance acceptable for recording.
                The
                Mortgage shall be assigned to “Deutsche Bank National Trust Company, as
                Trustee for HarborView Mortgage Loan Trust Mortgage Loan Pass-Through
                Certificates, Series 2006-8, without
                recourse;”

            

    

     

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

            

    

     

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

            

    

     

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

            

    

     

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

            

    

     

    In
      connection with the assignment of any MERS Mortgage Loan, the Seller agrees
      that
      it will take (or shall cause the applicable Servicer to take), at the expense
      of
      the Seller (with the cooperation of the Depositor, the Trustee and the Master
      Servicer), such actions as are necessary to cause the MERS®
      System
      to indicate that such Mortgage Loans have been assigned by the Seller to the
      Trustee in accordance with this Agreement for the benefit of the
      Certificateholders by including (or deleting, in the case of Mortgage Loans
      that
      are repurchased in accordance with this Agreement) in such computer files the
      information required by the MERS®
      System
      to identify the series of the Certificates issued in connection with the
      transfer of such Mortgage Loans to the HarborView Mortgage Loan Trust 2006-8.
      Notwithstanding anything herein to the contrary, the Master Servicer and
      Securities Administrator are not responsible for monitoring any MERS Mortgage
      Loans.

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

    SECTION
      2.02. Acceptance by Trustee.

     

    The
      Trustee hereby accepts its appointment as a Custodian hereunder and acknowledges
      the receipt, subject to the provisions of Section 2.01 and subject to the review
      described below and any exceptions noted on the exception report described
      in
      the next paragraph below, of the documents referred to in Section 2.01 above
      and
      all other assets included in the definition of “Trust Fund” and declares that,
      in its capacity as a Custodian, it holds and will hold such documents and the
      other documents delivered to it constituting a Mortgage File, and that it holds
      or will hold all such assets and such other assets included in the definition
      of
“Trust Fund” in trust for the exclusive use and benefit of all present and
      future Certificateholders.

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

    Notwithstanding
      anything to the contrary in the immediately preceding paragraph, for any
      Mortgage Loan originated by Washington Mutual, any enforcement of missing
      Mortgage File documents or enforcement of representations and warranties for
      Mortgage Loan originated by Washington Mutual shall be against the Seller and
      not Washington Mutual.

    

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

     

    
      
        
        

      

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

     

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

     

    
      
        
        

      

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

     

    (e) [Reserved].

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

    (iv) [Reserved];

     

    (v) No
      Mortgagor obtained a prepaid single premium credit insurance policy (e.g.,
      life,
      mortgage, disability, accident, unemployment or health insurance product) or
      debt cancellation agreement in connection with the origination of the Mortgage
      Loan. No proceeds from any Mortgage Loan were used to purchase single premium
      credit insurance policies or debt cancellation agreements as part of the
      origination of, or as a condition to closing, such Mortgage Loan;

     

    
      
        
        

      

      
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    (vi) The
      Mortgage Loan complies with all applicable consumer credit statutes and
      regulations, including, without limitation, the respective Uniform Consumer
      Credit Code laws in effect in Alabama, Colorado, Idaho, Indiana, Iowa, Kansas,
      Maine, Oklahoma, South Carolina, Utah, West Virginia and Wyoming, has been
      originated by a properly licensed entity, and in all other respects, complies
      with all of the material requirements of any such applicable laws;

     

    (vii) The
      Seller has fully and accurately furnished complete information (i.e., favorable
      and unfavorable) on the related borrower credit files to Equifax, Experian
      and
      Trans Union Credit Information Company, in accordance with the Fair Credit
      Reporting Act and its implementing regulations, on a monthly basis and, for
      each
      Mortgage Loan;

     

    (viii) No
      Mortgage Loan is secured by real property or secured by a manufactured home
      located in the state of Georgia unless (x) such Mortgage Loan was originated
      prior to October 1, 2002 or after March 6, 2003, or (y) the property securing
      the Mortgage Loan is not, nor will be, occupied by the Mortgagor as the
      Mortgagor’s principal dwelling. No Mortgage Loan is a “High Cost Home Loan” as
      defined in the Georgia Fair Lending Act, as amended (the “Georgia Act”). Each
      Mortgage Loan that is a “Home Loan” under the Georgia Act complies with all
      applicable provisions of the Georgia Act. No Mortgage Loan secured by owner
      occupied real property or an owner occupied manufactured home located in the
      State of Georgia was originated (or modified) on or after October 1, 2002
      through and including March 6, 2003;

     

    (ix) No
      Mortgage Loan is a “High-Cost” loan as defined under the New York Banking Law
      Section 6-1, effective as of April 1, 2003;

     

    (x) No
      Mortgage Loan (a) is secured by property located in the State of New York;
      (b)
      had an unpaid principal balance at origination of $300,000 or less, and (c)
      has
      an application date on or after April 1, 2003, the terms of which Mortgage
      Loan
      equal or exceed either the APR or the points and fees threshold for “high-cost
      home loans”, as defined in Section 6-1 of the New York State Banking
      Law;

     

    (xi) No
      Mortgage Loan is a “High Cost Home Loan” as defined in the Arkansas Home Loan
      Protection Act effective July 16, 2003 (Act 1340 or 2003);

     

    (xii) No
      Mortgage Loan is a “High Cost Home Loan” as defined in the Kentucky high-cost
      loan statute effective June 24, 2003 (Ky. Rev. Stat.
      Section 360.100);

     

    (xiii) No
      Mortgage Loan secured by property located in the State of Nevada is a “home
      loan” as defined in the Nevada Assembly Bill No. 284;

     

    (xiv) No
      Mortgage Loan is a “manufactured housing loan” or “home improvement home loan”
pursuant to the New Jersey Home Ownership Act. No Mortgage Loan is a “High-Cost
      Home Loan” or a refinanced “Covered Home Loan,” in each case, as defined in the
      New Jersey Home Ownership Act effective November 27, 2003 (N.J.S.A. 46;10B-22
      et
      seq.);

     

    (xv) No
      Mortgage Loan is a subsection 10 mortgage under the Oklahoma Home Ownership
      and
      Equity protection Act;

     

    
      
        
        

      

      
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    (xvi) No
      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.);

     

    (xvii) No
      Mortgage Loan is a “High-Risk Home Loan” as defined in the Illinois High-Risk
      Home Loan Act effective January 1, 2004 (815 Ill. Comp. Stat. 137/1 et
      seq.);

     

    (xviii) No
      Mortgage Loan that is secured by property located within the State of Maine
      meets the definition of a (i) “high-rate, high-fee” mortgage loan under Article
      VIII, Title 9-A of the Maine Consumer Credit Code or (ii) “High-Cost Home Loan”
as defined under the Maine House Bill 383 L.D. 494, effective as of September
      13, 2003;

     

    (xix) With
      respect to any Mortgage Loan for which a mortgage loan application was submitted
      by the Mortgagor after April 1, 2004, no such Mortgage Loan secured by Mortgaged
      Property in the State of Illinois which has a Loan Rate in excess of 8.0% per
      annum has lender-imposed fees (or other charges) in excess of 3.0% of the
      original principal balance of the Mortgage Loan;

     

    (xx) No
      Mortgage Loan secured by Mortgaged Property in the state of Massachusetts is
      a
“High Cost Home Mortgage Loan” as defined in Part 40 and Part 32, 209 CMR 40.01
      et seq., effective March 22, 2001; and

     

    (xxi) No
      Loan
      is a “High Cost Home Loan” as defined by the Indiana Home Loan Practices Act,
      effective January 1, 2005 (Ind. Code Ann. §§ 24-9-1 et seq.).

     

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

     

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

     

    
      
        
        

      

      
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    SECTION
      2.05. [Reserved].

     

     

    SECTION
      2.06. Representations and Warranties of the Depositor.

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

    SECTION
      2.07. Issuance of Certificates.

     

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

     

    SECTION
      2.08. Representations and Warranties of the Seller.

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

    SECTION
      2.09. Covenants of the Seller. 

     

    The
      Seller hereby covenants that, except for the transfer hereunder, the Seller
      will
      not sell, pledge, assign or transfer to any other Person, or grant, create,
      incur, assume or suffer to exist any lien on any Mortgage Loan, or any interest
      therein; the Seller will notify the Trustee, as assignee of the Depositor,
      and
      the Master Servicer of the existence of any lien on any Mortgage Loan
      immediately upon discovery thereof, and the Seller will defend the right, title
      and interest of the Trustee, as assignee of the Depositor, in, to and under
      the
      Mortgage Loans, against all claims of third parties claiming through or under
      the Seller; provided,
      however,
      that
      nothing in this Section 2.09 shall prevent or be deemed to prohibit the Seller
      from suffering to exist upon any of the Mortgage Loans any liens for municipal
      or other local taxes and other governmental charges if such taxes or
      governmental charges shall not at the time be due and payable or if the Seller
      shall currently be contesting the validity thereof in good faith by appropriate
      proceedings and shall have set aside on its books adequate reserves with respect
      thereto.
      The
      Seller shall, within 30 days after the Closing Date, provide the Master
      Servicer, the Securities Administrator, the Trustee and the Depositor a complete
      list of each party to the HarborView Mortgage Loan Trust 2006-8
      transaction.

     

    
      
        
        

      

      
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    ARTICLE
      III

     

    ADMINISTRATION
      AND MASTER SERVICING OF THE MORTGAGE LOANS;
      CREDIT
      RISK MANAGER

     

    SECTION
      3.01. Master Servicer to Service and Administer the Mortgage
      Loans. 

     

    The
      Master Servicer shall supervise, monitor and oversee the obligation of the
      Servicers to service and administer their respective Mortgage Loans in
      accordance with the terms of the applicable Servicing Agreement and shall have
      full power and authority to do any and all things which it may deem necessary
      or
      desirable in connection with such master servicing and administration. In
      performing its obligations hereunder, the Master Servicer shall act in a manner
      consistent with Accepted Master Servicing Practices. Furthermore, the Master
      Servicer shall oversee and consult with each Servicer as necessary from
      time-to-time to carry out the Master Servicer’s obligations hereunder, shall
      receive, review and evaluate all reports, information and other data provided
      to
      the Master Servicer by each Servicer and shall cause each Servicer to perform
      and observe the covenants, obligations and conditions to be performed or
      observed by such Servicer under the applicable Servicing Agreement.
      Notwithstanding anything in this Agreement, the Servicing Agreements or the
      Credit Risk Management Agreements to the contrary, the Master Servicer shall
      have no duty or obligation to enforce the Credit Risk Management Agreements
      or
      to supervise, monitor or oversee the activities of the Servicers under the
      related Credit Risk Management Agreements with respect to any action taken
      or
      not taken by the applicable Servicer at the direction of the Seller or pursuant
      to a recommendation of the Credit Risk Manager. The Master Servicer shall
      independently and separately monitor each Servicer’s servicing activities with
      respect to each related Mortgage Loan, reconcile the results of such monitoring
      with such information provided in the previous sentence on a monthly basis
      and
      coordinate corrective adjustments to the Servicers’ and Master Servicer’s
      records, and provide such reconciled and corrected information to the Securities
      Administrator to enable it to prepare the statements specified in Section 5.04
      and any other information and statements required of the Securities
      Administrator hereunder.

     

    The
      Trustee shall furnish the Servicers and the Master Servicer with any limited
      powers of attorney and other documents in form acceptable to the Trustee,
      necessary or appropriate to enable the Servicers and the Master Servicer to
      service and administer the related Mortgage Loans and REO Property, which
      limited powers of attorney shall provide that the Trustee will not be liable
      for
      the actions or omissions of the Servicers or Master Servicer in exercising
      such
      powers. 

     

    The
      Master Servicer shall not without the Trustee’s written consent (i) initiate any
      action, suit or proceeding solely under the Trustee’s name without indicating
      the Master Servicer’s representative capacity or (ii) take any action with the
      intent to cause, and which actually does cause, the Trustee to be registered
      to
      do business in any state. The Master Servicer shall indemnify the Trustee for
      any and all costs, liabilities and expenses incurred by the Trustee in
      connection with the negligent or willful misuse of such powers of attorney
      by
      the Master Servicer.

     

    
      
        
        

      

      
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    The
      Trustee shall provide access to the records and documentation in possession
      of
      the Trustee (including in its capacity as a Custodian hereunder) regarding
      the
      related Mortgage Loans and REO Property and the servicing thereof to the
      Certificateholders, the FDIC, and the supervisory agents and examiners of the
      FDIC, such access being afforded only upon reasonable prior written request
      and
      during normal business hours at the office of the Trustee; provided,
      however,
      that,
      unless otherwise required by law, the Trustee shall not be required to provide
      access to such records and documentation if the provision thereof would violate
      the legal right to privacy of any Mortgagor. The Trustee shall allow
      representatives of the above entities to photocopy any of the records and
      documentation and shall provide equipment for that purpose at a charge that
      covers the Trustee’s actual costs.

     

    The
      Trustee, upon written request of the related Servicer or the Master Servicer,
      as
      applicable, shall execute and deliver to the related Servicer and the Master
      Servicer any court pleadings, requests for trustee’s sale or other documents
      necessary or desirable to (i) the foreclosure or trustee’s sale with respect to
      a Mortgaged Property; (ii) any legal action brought to obtain judgment against
      any Mortgagor on the Mortgage Note or Mortgage; (iii) obtain a deficiency
      judgment against the Mortgagor; or (iv) enforce any other rights or remedies
      provided by the Mortgage Note or Mortgage or otherwise available at law or
      equity.

     

    SECTION
      3.02. REMIC-Related Covenants.

     

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

     

    SECTION
      3.03. Monitoring of Servicers.

     

    (a) The
      Master Servicer shall be responsible for reporting to the Trustee (on behalf
      of
      the Trust Fund) and the Depositor the compliance by each Servicer with its
      duties under the related Servicing Agreement. In the review of each Servicer’s
      activities, the Master Servicer may rely upon an officer’s certificate of the
      Servicer with regard to such Servicer’s compliance with the terms of its
      Servicing Agreement. In the event that the Master Servicer, in its judgment,
      determines that a Servicer should be terminated in accordance with its Servicing
      Agreement, or that a notice should be sent pursuant to such Servicing Agreement
      with respect to the occurrence of an event that, unless cured, would constitute
      grounds for such termination, the Master Servicer shall notify the Depositor
      and
      the Trustee thereof, and with respect to the SRO Servicer, the Master Servicer
      shall also notify the Servicing Rights Owner, and the Master Servicer shall
      issue such notice or take such other action as it deems appropriate with Section
      3.03(b) or, with respect to the SRO Servicer, Section 3.03(f)
      below.

     

    
      
        
        

      

      
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    (b) The
      Master Servicer, for the benefit of the Trust Fund, any NIMS Insurer and the
      Certificateholders, shall (acting as agent of the Trust Fund when enforcing
      the
      Trust Fund’s rights under each Servicing Agreement) (i) enforce the obligations
      of each Servicer under the related Servicing Agreement, and (ii) in the event
      that a Servicer fails to perform its obligations in accordance with the related
      Servicing Agreement, subject to the preceding paragraph, terminate the rights
      and obligations of such Servicer thereunder and act as servicer of the related
      Mortgage Loans or enter into a new Servicing Agreement with a successor Servicer
      selected by the Master Servicer which the Master Servicer shall cause the
      Trustee to acknowledge; provided,
      however,
      it is
      understood and acknowledged by the parties hereto that there will be a period
      of
      transition (not to exceed 90 days) before the actual servicing functions can
      be
      fully transferred to such successor Servicer. Such enforcement, including,
      without limitation, the legal prosecution of claims, termination of Servicing
      Agreements and the pursuit of other appropriate remedies, shall be in such
      form
      and carried out to such an extent and at such time as the Master Servicer,
      in
      its good faith business judgment, would require were it the owner of the related
      Mortgage Loans. The Master Servicer shall pay the costs of such enforcement
      at
      its own expense except as provided below, provided that the Master Servicer
      shall not be required to prosecute or defend any legal action except to the
      extent that the Master Servicer shall have received reasonable indemnity for
      its
      costs and expenses in pursuing such action from the Trust Fund.

     

    (c) To
      the
      extent that the costs and expenses of the Master Servicer related to any
      termination of a Servicer, appointment of a successor Servicer or the transfer
      and assumption of servicing by the Master Servicer or a successor Servicer
      with
      respect to any Servicing Agreement (including, without limitation, (i) all
      reasonable legal costs and expenses and all due diligence costs and expenses
      associated with an evaluation of the potential termination of the Servicer
      as a
      result of an event of default by such Servicer and (ii) all reasonable costs
      and
      expenses associated with the complete transfer of servicing, including all
      servicing files and all servicing data and the completion, correction or
      manipulation of such servicing data as may be required by the successor servicer
      to correct any errors or insufficiencies in the servicing data or otherwise
      to
      enable the successor servicer to service the Mortgage Loans in accordance with
      the related Servicing Agreement) are not fully and timely reimbursed by the
      terminated Servicer, or with respect to any terminated SRO Servicer, are not
      fully and timely reimbursed by the terminated SRO Servicer (or, solely with
      respect to a termination of any SRO Servicer without cause, the Servicing Rights
      Owner), the Master Servicer shall be entitled to reimbursement of such
      reasonable costs and expenses from the Distribution Account.

     

    (d) The
      Master Servicer shall require each Servicer to comply with the remittance
      requirements and other obligations set forth in the related Servicing
      Agreement.

     

    (e) If
      the
      Master Servicer acts as Servicer, it will not assume liability for the
      representations and warranties of the predecessor Servicer, if any, that it
      replaces or for any errors, acts or omissions of such predecessor Servicer
      occurring prior to the termination of such Servicer; provided,
      however,
      the
      Master Servicer shall not be relieved of its liability, if any, as Master
      Servicer under this Section 3.03(e).

     

    
      
        
        

      

      
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    (f) Notwithstanding
      anything to the contrary herein, upon the termination of the SRO Servicer for
      any reason whatsoever, the Servicing Rights Owner, as owner of the related
      Servicing Rights, shall at all times have the right to select a successor
      Servicer acceptable to the Master Servicer, which the Master Servicer shall
      appoint provided that such servicer is an Acceptable Successor Servicer and
      that
      such servicer will assume all of the obligations of the terminated Servicer
      under the related Servicing Agreement. The Trustee shall have no duty, and
      shall
      not be required, to review the terms of such assumption under the Servicing
      Agreement.

     

    (g) It
      is
      understood and acknowledged by the parties hereto that, under the Servicing
      Agreement, the SRO Servicer has the right to resign as a SRO Servicer under
      the
      related Servicing Agreement, provided
      that
      such resignation shall not become effective until (i) the Servicing Rights
      Owner
      has consented to such resignation, and (ii) a successor Servicer is appointed
      which (a) is an Acceptable Successor Servicer and (b) which has assumed all
      of
      the obligations of the terminated Servicer under the related Servicing
      Agreement. Any reasonable costs and expenses of the Master Servicer incurred
      in
      connection with such termination and transfer of servicing shall be paid by
      the
      Servicing Rights Owner.

     

    (h) It
      is
      understood and acknowledged by the parties hereto that under the Servicing
      Agreement related to the SRO Mortgage Loans, the Servicing Rights Owner has
      the
      right to terminate the SRO Servicer, without cause, as provided and subject
      to
      the limitations of the Servicing Agreement; provided
      that
      such termination shall not become effective until a successor Servicer is
      appointed which (a) is an Acceptable Successor Servicer and (b) which has
      assumed all of the obligations of the terminated Servicer under the related
      Servicing Agreement. Any termination fees owed to the terminated SRO Servicer
      and any reasonable costs and expenses of the Master Servicer incurred in
      connection with such termination and transfer of servicing shall be paid by
      the
      Servicing Rights Owner.

     

    SECTION
      3.04. Fidelity Bond.

     

    (a) The
      Master Servicer, at its expense, shall maintain in effect a blanket fidelity
      bond and an errors and omissions insurance policy, affording coverage with
      respect to all directors, officers, employees and other Persons acting on such
      Master Servicer’s behalf, and covering errors and omissions in the performance
      of the Master Servicer’s obligations hereunder. The errors and omissions
      insurance policy and the fidelity bond shall be in such form and amount
      generally acceptable for entities serving as master servicers or
      trustees.
      The
      Master Servicer shall provide the Trustee and any NIMS Insurer a copy of such
      policy and fidelity bond upon request.

     

    (b) The
      Master Servicer shall promptly report to the Trustee and any NIMS Insurer any
      material changes that may occur in the Master Servicer fidelity bond or the
      Master Servicer errors and omissions insurance policy and shall furnish to
      the
      Trustee and any NIMS Insurer, on request, certificates evidencing that such
      bond
      and insurance policy are in full force and effect. The Master Servicer shall
      promptly report to the Trustee and any NIMS Insurer all cases of embezzlement
      or
      fraud, if such events involve funds relating to the Mortgage Loans. The total
      losses relating to the Mortgage Loans, regardless of whether claims are filed
      with the applicable insurer or surety, shall be disclosed in such reports
      together with the amount of such losses covered by insurance. If a bond or
      insurance claim report relating to the Mortgage Loans is filed with any of
      such
      bonding companies or insurers, the Master Servicer shall promptly furnish a
      copy
      of such report to the Trustee and any NIMS Insurer. Any amounts relating to
      the
      Mortgage Loans collected by the Master Servicer under any such bond or policy
      shall be promptly remitted by the Master Servicer to the Securities
      Administrator for deposit into the Distribution Account. Any amounts relating
      to
      the Mortgage Loans collected by the applicable Servicer under any such bond
      or
      policy shall be remitted to the Master Servicer to the extent provided in the
      applicable Servicing Agreement.

     

    
      
        
        

      

      
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    SECTION
      3.05. Power to Act; Procedures.

     

    The
      Master Servicer shall master service the Mortgage Loans and shall have full
      power and authority, subject to the REMIC Provisions and the provisions of
      Article X hereof, to do any and all things that it may deem necessary or
      desirable in connection with the master servicing and administration of the
      Mortgage Loans, including but not limited to the power and authority (i) to
      execute and deliver, on behalf of the Certificateholders, the Trust Fund 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, (iii) to collect any Insurance Proceeds,
      Liquidation Proceeds and Recoveries and (iv) to effectuate, in its own name,
      on
      behalf the Trust Fund, or in the name of the Trust Fund, foreclosure or other
      conversion of the ownership of the Mortgaged Property securing any Mortgage
      Loan, in each case, in accordance with the provisions of this Agreement and
      the
      Servicing Agreements, as applicable; provided,
      however,
      that
      the Master Servicer shall not (and, consistent with its responsibilities under
      Section 3.03, shall not permit any Servicer to) knowingly or intentionally
      take
      any action, or fail to take (or fail to cause to be taken) any action reasonably
      within its control and the scope of duties more specifically set forth herein,
      that, under the REMIC Provisions, if taken or not taken, as the case may be,
      would result in an Adverse REMIC Event unless the Master Servicer has received
      an Opinion of Counsel (but not at the expense of the Master Servicer) to the
      effect that the contemplated action will not result in an Adverse REMIC Event.
      The Trustee shall furnish the Master Servicer, upon written request from a
      Servicing Officer, with any limited powers of attorney empowering the Master
      Servicer or any Servicer to execute and deliver instruments of satisfaction
      or
      cancellation, or of partial or full release or discharge, and to foreclose
      upon
      or otherwise liquidate Mortgaged Property, and to appeal, prosecute or defend
      in
      any court action relating to the Mortgage Loans or the Mortgaged Property,
      in
      accordance with the Servicing Agreements and this Agreement, and the Trustee
      shall execute and deliver such other documents, as the Master Servicer may
      request, to enable the Master Servicer to master service and administer the
      Mortgage Loans and carry out its duties hereunder, in each case in accordance
      with Accepted Master Servicing Practices (and the Trustee shall have no
      liability for misuse of any such powers of attorney by the Master Servicer
      or
      any Servicer). In instituting foreclosures or similar proceedings, the Master
      Servicer shall institute such proceedings either in its own name on behalf
      of
      the Trust Fund or in the name of the Trust Fund (or cause a Servicer, pursuant
      to the related Servicing Agreement, to institute such proceedings either in
      the
      name of the Servicer on behalf of the Trust, or in the name of the Trust Fund),
      unless otherwise required by law or otherwise appropriate. If the Master
      Servicer or the Trustee has been advised that it is likely that the laws of
      the
      state in which action is to be taken prohibit such action if taken in the name
      of the Trust Fund or the Trustee on its behalf or that the Trust Fund or the
      Trustee, as applicable, would be adversely affected under the “doing business”
or tax laws of such state if such action is taken in its name, the Master
      Servicer shall join with the Trustee, on behalf of the Trust Fund, in the
      appointment of a co-trustee pursuant to Section 8.10 hereof. In the performance
      of its duties hereunder, the Master Servicer shall be an independent contractor
      and shall not, except in those instances where it is taking action in the name
      of the Trustee, be deemed to be the agent of the Trustee on behalf of the Trust
      Fund.

     

    
      
        
        

      

      
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    SECTION
      3.06. Due-on-Sale Clauses; Assumption Agreements.

     

    To
      the
      extent provided in the applicable Servicing Agreement and to the extent Mortgage
      Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause
      the Servicers to enforce such clauses in accordance with the applicable
      Servicing Agreement. If applicable law prohibits the enforcement of a
      due-on-sale clause or such clause is otherwise not enforced in accordance with
      the applicable Servicing Agreement, and, as a consequence, a Mortgage Loan
      is
      assumed, the original Mortgagor may be released from liability in accordance
      with the applicable Servicing Agreement.

     

    SECTION
      3.07. Release of Mortgage Files.

     

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

     

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

     

    
      
        
        

      

      
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    SECTION
      3.08. Documents, Records and Funds in Possession of Master Servicer to be
      Held for Trust Fund.

     

    (a) The
      Master Servicer shall transmit and each Servicer (to the extent required by
      the
      related Servicing Agreement) shall transmit to the Trustee (or applicable
      Custodian) such documents and instruments coming into the possession of the
      Master Servicer or such Servicer from time to time as are required by the terms
      hereof or, in the case of the Servicers, by the applicable Servicing Agreement,
      to be delivered to the Trustee (or applicable Custodian). Any funds received
      by
      the Master Servicer or by a Servicer in respect of any Mortgage Loan or which
      otherwise are collected by the Master Servicer or by a Servicer as Liquidation
      Proceeds, Insurance Proceeds or Recoveries in respect of any Mortgage Loan
      shall
      be held for the benefit of the Trust Fund and the Certificateholders, subject
      to
      the Master Servicer’s right to retain or withdraw from the Distribution Account
      the Master Servicing Fee, any additional compensation pursuant to Section 3.14
      and any other amounts provided in this Agreement, and to the right of each
      Servicer to retain its Servicing Fee and any other amounts as provided in the
      applicable Servicing Agreement. The Master Servicer shall, and (to the extent
      provided in the applicable Servicing Agreement) shall cause each Servicer to,
      provide access to information and documentation regarding the Mortgage Loans
      to
      the Trustee, any NIMS Insurer, their agents and accountants at any time upon
      reasonable request and during normal business hours, and to Certificateholders
      that are savings and loan associations, banks or insurance companies, the Office
      of Thrift Supervision, the FDIC and the supervisory agents and examiners of
      such
      Office and Corporation or examiners of any other federal or state banking or
      insurance regulatory authority if so required by applicable regulations of
      the
      Office of Thrift Supervision or other regulatory authority, such access to
      be
      afforded without charge but only upon reasonable request in writing and during
      normal business hours at the offices of the Master Servicer designated by it.
      In
      fulfilling such a request the Master Servicer shall not be responsible for
      determining the sufficiency of such information.

     

    (b) 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, Insurance
      Proceeds or Recoveries, shall be held by the Master Servicer for and on behalf
      of the Trust Fund and the Certificateholders and shall be and remain the sole
      and exclusive property of the Trust Fund; provided,
      however,
      that
      the Master Servicer and each Servicer shall be entitled to setoff against,
      and
      deduct from, any such funds any amounts that are properly due and payable to
      the
      Master Servicer or such Servicer under this Agreement or the applicable
      Servicing Agreement.

     

    
      
        
        

      

      
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    SECTION
      3.09. Standard Hazard Insurance and Flood Insurance
      Policies.

     

    (a) For
      each
      Mortgage Loan (other than a Cooperative Loan), the Master Servicer shall enforce
      any obligation of the Servicers under the related Servicing Agreements to
      maintain or cause to be maintained standard fire and casualty insurance and,
      where applicable, flood insurance, all in accordance with the provisions of
      the
      related Servicing Agreements. It is understood and agreed that such insurance
      shall be with insurers meeting the eligibility requirements set forth in the
      applicable Servicing Agreement and that no earthquake or other additional
      insurance is to be required of any Mortgagor or to be maintained on property
      acquired in respect of a defaulted loan, other than pursuant to such applicable
      laws and regulations as shall at any time be in force and as shall require
      such
      additional insurance.

     

    (b) Pursuant
      to Sections 4.01 and 4.02, any amounts collected by any Servicer or the Master
      Servicer under any insurance policies (other than amounts to be applied to
      the
      restoration or repair of the property subject to the related Mortgage or
      released to the Mortgagor in accordance with the applicable Servicing Agreement)
      shall be deposited into the Distribution Account, subject to withdrawal pursuant
      to Sections 4.02 and 4.03. Any cost incurred by the Master Servicer or any
      Servicer in maintaining any such insurance if the Mortgagor defaults in its
      obligation to do so shall be added to the amount owing under the Mortgage Loan
      where the terms of the Mortgage Loan so permit; provided,
      however,
      that
      the addition of any such cost shall not be taken into account for purposes
      of
      calculating the distributions to be made to Certificateholders and shall be
      recoverable by the Master Servicer or such Servicer pursuant to Sections 4.02
      and 4.03.

     

    SECTION
      3.10. Presentment of Claims and Collection of Proceeds.

     

    The
      Master Servicer shall (to the extent provided in the applicable Servicing
      Agreement) cause the related Servicer to prepare and present on behalf of the
      Trustee, the Trust Fund 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 policies. Any proceeds disbursed to the Master
      Servicer (or disbursed to a Servicer and remitted to the Master Servicer) in
      respect of such policies, bonds or contracts shall be promptly deposited in
      the
      Distribution 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
      3.11. Maintenance of the Primary Insurance Policies.

     

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

     

    
      
        
        

      

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

     

    SECTION
      3.12. Trustee to Retain Possession of Certain Insurance Policies and
      Documents.

     

    The
      Trustee (or the applicable Custodian, as directed by the Trustee), shall retain
      possession and custody of the originals (to the extent available) of any Primary
      Insurance Policies, or certificate of insurance if applicable and available,
      and
      any certificates of renewal as to the foregoing as may be issued from time
      to
      time as contemplated by this Agreement and which come into its possession.
      Until
      all amounts distributable in respect of the Certificates have been distributed
      in full and the Master Servicer otherwise has fulfilled its obligations under
      this Agreement, the Trustee (or its Custodian, if any, as directed by the
      Trustee) shall also retain possession and custody of each Mortgage File in
      accordance with and subject to the terms and conditions of this Agreement.
      The
      Master Servicer shall promptly deliver or cause to be delivered to the Trustee
      (or the applicable Custodian, as directed by the Trustee), upon the execution
      or
      receipt thereof the originals of any Primary Insurance Policies, any
      certificates of renewal, and such other documents or instruments that constitute
      portions of the Mortgage File that come into the possession of the Master
      Servicer from time to time.

     

    SECTION
      3.13. Realization Upon Defaulted Mortgage Loans.

     

    The
      Master Servicer shall cause each Servicer (to the extent required under the
      related Servicing Agreement) to foreclose upon, repossess or otherwise
      comparably convert the ownership of Mortgaged 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,
      all
      in accordance with the applicable Servicing Agreement.

     

    
      
        
        

      

      
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    SECTION
      3.14. Additional Compensation to the Master Servicer. 

     

    The
      Master Servicer shall be entitled to receive the Master Servicing Fee and,
      pursuant to Section 4.02(c), certain income and gain realized from any
      investment of funds in the Distribution Account shall be for the benefit of
      the
      Master Servicer as additional compensation. Servicing compensation in the form
      of assumption fees, if any, late payment charges, as collected, if any, or
      otherwise (but, unless otherwise specifically permitted in the applicable
      Servicing Agreement, not including any Prepayment Penalty Amounts) shall be
      retained by the applicable Servicer, or the Master Servicer, and shall not
      be
      deposited in the related Servicing Account or the Distribution
      Account. The
      Master Servicer shall be required to pay all expenses incurred by it in
      connection with its activities hereunder and shall not be entitled to
      reimbursement therefor except as provided in this Agreement. The amount of
      the
      aggregate compensation payable as set forth in this Section 3.14 plus the Master
      Servicing Fee due to the Master Servicer in respect of any Distribution Date
      shall be reduced in accordance with Section 5.06.

     

    SECTION
      3.15. REO Property.

     

    (a) In
      the
      event the Trust Fund (or the Trustee, on behalf of the Trust), acquires
      ownership of any REO Property in respect of any related Mortgage Loan, the
      deed
      or certificate of sale shall be issued to the Trust Fund, or if required under
      applicable law, to the Trustee, or to its nominee, on behalf of the Trust Fund.
      The Master Servicer shall, to the extent provided in the applicable Servicing
      Agreement, cause the applicable Servicer to sell any REO Property as
      expeditiously as possible (and in no event later than three years after
      acquisition) and in accordance with the provisions of this Agreement and the
      related Servicing Agreement, as applicable. Pursuant to its efforts to sell
      such
      REO Property, the Master Servicer shall cause the applicable Servicer to protect
      and conserve such REO Property in the manner and to the extent required by
      the
      applicable Servicing Agreement, in accordance with the REMIC Provisions and
      in a
      manner that does not result in a tax on “net income from foreclosure property”
or cause such REO Property to fail to qualify as “foreclosure property” within
      the meaning of Section 860G(a)(8) of the Code.

     

    (b) The
      Master Servicer shall, to the extent required by the related Servicing
      Agreement, cause the applicable Servicer to deposit all funds collected and
      received in connection with the operation of any REO Property in the related
      Servicing Account.

     

    (c) The
      Master Servicer and the applicable Servicer, upon the final disposition of
      any
      REO Property, shall be entitled to reimbursement for any related unreimbursed
      Advances and other unreimbursed advances as well as any unpaid Servicing Fees
      from Liquidation Proceeds received in connection with the final disposition
      of
      such REO Property; provided, that any such unreimbursed Advances 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.

     

    (d) To
      the
      extent provided in the related Servicing Agreement, the Liquidation Proceeds
      from the final disposition of the REO Property, net of any payment to the Master
      Servicer and the applicable Servicer as provided above shall be deposited in
      the
      related Servicing Account on or prior to the applicable Determination Date
      in
      the month following receipt thereof and be remitted by wire transfer in
      immediately available funds to the Master Servicer for deposit into the
      Distribution Account on the next succeeding applicable Servicer Remittance
      Date.

     

    
      
        
        

      

      
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    SECTION
      3.16. Assessments of Compliance and Attestation Reports.

     

    (a) Assessments
      of Compliance.

     

    (i) By
      March
      10 (with a 5 calendar day cure period) of each year, commencing in March 2007,
      the Master Servicer, the Securities Administrator, the Trustee, in its capacity
      as a Custodian and GMAC Bank (as a Custodian), each at its own expense, shall
      furnish, and each such party shall cause any Servicing Function Participant
      engaged by it to furnish or otherwise make available, each at its own expense,
      to the Securities Administrator and the Depositor (provided that the Master
      Servicer shall furnish copies of each such report received by it from the
      Servicers to the Depositor), a report on an assessment of compliance with the
      Relevant Servicing Criteria that contains (A) a statement by such party of
      its
      responsibility for assessing compliance with the Relevant Servicing Criteria,
      (B) a statement that such party used the Servicing Criteria to assess compliance
      with the Relevant Servicing Criteria, (C) such party’s assessment of compliance
      with the Relevant Servicing Criteria as of and for the fiscal year covered
      by
      the Form 10-K required to be filed pursuant to Section 3.19(b) and for each
      fiscal year thereafter, whether or not a Form 10-K is required to be filed,
      including, if there has been any material instance of noncompliance with the
      Relevant Servicing Criteria, a discussion of each such failure and the nature
      and status thereof, and (D) a statement that a registered public accounting
      firm
      has issued an attestation report on such party’s assessment of compliance with
      the Relevant Servicing Criteria as of and for such period. 

    

    (ii) No
      later
      than the end of each fiscal year for the Trust Fund for which a 10-K is required
      to be filed, the Master Servicer and the Trustee, in its capacity as a Custodian
      and GMAC Bank (as a Custodian), shall each forward to the Securities
      Administrator and the Depositor the name of each Servicing Function Participant
      engaged by it and what Relevant Servicing Criteria will be addressed in the
      report on assessment of compliance prepared by such Servicing Function
      Participant (provided,
      however,
      that
      the Master Servicer need not provide such information to the Securities
      Administrator so long as the Master Servicer and Securities Administrator are
      the same Person). When the Master Servicer, the Trustee, in its capacity as
      a
      Custodian, GMAC Bank (as a Custodian) and the Securities Administrator (or
      any
      Servicing Function Participant engaged by them) submit their assessments to
      the
      Securities Administrator, such parties will also at such time include the
      assessment (and attestation pursuant to subsection (b) of this Section 3.16)
      of
      each Servicing Function Participant engaged by it.

    

    (iii) Promptly
      after receipt of each such report on assessment of compliance, (i) the Depositor
      shall review each such report and, if applicable, consult with the Master
      Servicer, the Securities Administrator, the Trustee, in its capacity as a
      Custodian, and GMAC Bank (as a Custodian) and any Servicing Function Participant
      engaged by such parties as to the nature of any material instance of
      noncompliance with the Relevant Servicing Criteria by each such party, and
      (ii)
      the Securities Administrator shall confirm that the assessments, taken as a
      whole, address all of the Servicing Criteria and taken individually address
      the
      Relevant Servicing Criteria for each party as set forth on Exhibit R and on
      any
      similar exhibit set forth in each Servicing Agreement in respect of the related
      Servicer and notify the Depositor of any exceptions.

     

    
      
        
        

      

      
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    (iv) The
      Master Servicer shall include all annual reports on assessment of compliance
      received by it from each Servicer with its own assessment of compliance to
      be
      submitted to the Securities Administrator pursuant to this Section.

    

    (v) In
      the
      event the Master Servicer, the Securities Administrator, the Trustee, in its
      capacity as a Custodian, GMAC Bank (as a Custodian) or any Servicing Function
      Participant engaged by it is terminated, assigns its rights and obligations
      under or resigns pursuant to the terms of this Agreement, or any other
      applicable agreement, as the case may be, such party shall provide a report
      on
      assessment of compliance pursuant to this Section 3.16(a) or to such other
      applicable agreement, notwithstanding any such termination, assignment or
      resignation.

    

    (b) Attestation
      Reports.

     

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

    

    (ii) Promptly
      after receipt of each such assessment of compliance and attestation report
      the
      Securities Administrator shall confirm that each assessment submitted pursuant
      to subsection (a) of this Section 3.16 is coupled with an attestation meeting
      the requirements of this Section and notify the Depositor of any
      exceptions.

     

    
      
        
        

      

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

    

    (iv) In
      the
      event the Master Servicer, the Securities Administrator, the Trustee, in its
      capacity as a Custodian, GMAC Bank (as a Custodian), a Servicer or any Servicing
      Function Participant engaged by it is terminated, assigns its rights and duties
      under or resigns pursuant to the terms of this Agreement, or any applicable
      custodial agreement, servicing agreement or subservicing agreement, as the
      case
      may be, such party shall cause a registered public accounting firm to provide
      an
      attestation pursuant to this Section 3.16 notwithstanding any such termination,
      assignment or resignation.

    

    (v) The
      Trustee’s and the Custodians’ obligation to provide assessments of compliance
      and attestations under this Section 3.16 shall terminate upon the filing of
      a
      Form 15 suspension notice on behalf of the Trust Fund. Notwithstanding the
      foregoing, after the occurrence of such event, and provided that the Depositor
      is not otherwise provided with such reports or copies of such reports, the
      Master Servicer and the Securities Administrator shall be obligated to provide
      a
      copy of such reports, by March 31 of each year, to the Depositor.

     

    SECTION
      3.17. Annual Compliance Statement.

     

    The
      Master Servicer and the Securities Administrator shall deliver (and the Master
      Servicer and Securities Administrator shall cause any Servicing Function
      Participant engaged by it to deliver) to the Depositor and the Securities
      Administrator on or before March 10 (with a 5 calendar day cure period) of
      each
      year, commencing in March 2007, an Officer’s Certificate stating, as to the
      signer thereof, that (A) a review of such party’s activities during the
      preceding calendar year or portion thereof and of such party’s performance under
      this Agreement, or such other applicable agreement in the case of a Servicing
      Function Participant, has been made under such officer’s supervision and (B) to
      the best of such officer’s knowledge, based on such review, such party has
      fulfilled all its obligations under this Agreement, or such other applicable
      agreement in the case of a Servicing Function Participant, in all material
      respects throughout such year or 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.

     

    The
      Master Servicer shall include all annual statements of compliance received
      by it
      from the Servicers with its own annual statement of compliance to be submitted
      to the Securities Administrator pursuant to this Section.

     

    In
      the
      event the Master Servicer, the Securities Administrator or any Servicing
      Function Participant engaged by parties is terminated or resigns pursuant to
      the
      terms of this Agreement, or any applicable agreement in the case of a Servicing
      Function Participant, as the case may be, such party shall provide an Officer’s
      Certificate pursuant to this Section 3.17 with respect to the period of time
      it
      was subject to this Agreement or any other applicable agreement, as the case
      may
      be.

     

    
      
        
        

      

      
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    SECTION
      3.18. Sarbanes-Oxley Certification.

     

    Each
      Form
      10-K shall include a Sarbanes-Oxley Certification, required to be included
      therewith pursuant to the Sarbanes-Oxley Act. The Securities Administrator
      and
      the Master Servicer shall provide, and each such party shall cause any Servicing
      Function Participant engaged by it to provide, to the Person who signs the
      Sarbanes-Oxley Certification (the “Certifying
      Person”),
      by
      March 10 (with a 5 calendar day cure period) of each year in which the Trust
      Fund is subject to the reporting requirements of the Exchange Act and otherwise
      within a reasonable period of time upon request, a certification (each, a
“Back-Up
      Certification”)
      upon
      which the Certifying Person, the entity for which the Certifying Person acts
      as
      an officer, and such entity’s officers, directors and Affiliates (collectively
      with the Certifying Person, “Certification
      Parties”)
      can
      reasonably rely. A senior officer of the Master Servicer in charge of the master
      servicing function shall serve as the Certifying Person on behalf of the Trust.
      Such officer of the Certifying Person can be contacted by e-mail at
      cts.sec.notifications@wellsfargo.com or by facsimile at 410-715-2380. In the
      event any such party or any Servicing Function Participant engaged by such
      party
      is terminated or resigns pursuant to the terms of this Agreement, or any
      applicable subservicing agreement, as the case may be, such party shall provide
      a Back-Up Certification to the Certifying Person pursuant to this Section 3.18
      with respect to the period of time it was subject to this Agreement or any
      applicable subservicing agreement, as the case may be. Notwithstanding the
      foregoing, (i) the Master Servicer and the Securities Administrator shall not
      be
      required to deliver a Back-Up Certification to each other if both are the same
      Person and the Master Servicer is the Certifying Person and (ii) the Master
      Servicer shall not be obligated to sign the Sarbanes-Oxley Certification in
      the
      event that it does not receive any Back-Up Certification required to be
      furnished to it pursuant to this section or any Servicing
      Agreement.

     

    SECTION
      3.19. Reports Filed with Securities and Exchange Commission.

     

    (a) Reports
      Filed on Form 10-D. 

     

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

     

    (ii) As
      set
      forth on Exhibit S hereto, within 5 calendar days after the related Distribution
      Date, (i) the parties to the HarborView Mortgage Loan Trust 2006-8 transaction
      shall be required to provide to the Securities Administrator, the Depositor
      and
      the Depositor’s counsel, to the extent known by a responsible officer thereof,
      in EDGAR-compatible form (which may be Word or Excel documents easily
      convertible to EDGAR format), or in such other form as otherwise agreed upon
      by
      the Securities Administrator and such party, the form and substance of any
      Additional Form 10-D Disclosure, if applicable, together with an Additional
      Disclosure Notification in the form of Exhibit U hereto (an “Additional
      Disclosure Notification”) and (ii) the Depositor will approve, as to form and
      substance, or disapprove, as the case may be, the inclusion of the Additional
      Form 10-D Disclosure on Form 10-D. The Seller will be responsible for any
      reasonable fees and expenses assessed or incurred by the Securities
      Administrator in connection with including any Additional Form 10-D Disclosure
      in Form 10-D pursuant to this paragraph.

     

    
      
        
        

      

      
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    (iii) After
      preparing the Form 10-D, the Securities Administrator shall, no later than
      10
      calendar days after the Distribution Date, forward electronically a copy of
      the
      Form 10-D to the Depositor and its counsel. Within two Business Days after
      receipt of such copy, but no later than the 12th
      calendar
      day after the Distribution Date (or the next succeeding Business Day), the
      Depositor shall notify the Securities Administrator in writing of any changes
      to
      or approval of such Form 10-D. In the absence of receipt of any written changes
      or approval, the Securities Administrator shall be entitled to assume that
      such
      Form 10-D is in final form and the Securities Administrator may proceed with
      the
      execution and filing of Form 10-D. A duly authorized representative of the
      Master Servicer shall sign each Form 10-D. If a Form 10-D cannot be filed on
      time or if a previously filed Form 10-D needs to be amended, the Securities
      Administrator will follow the procedures set forth in subsection (d)(ii) of
      this
      Section 3.19. Promptly (but no later than 1 Business Day) after filing with
      the
      Commission, the Securities Administrator will make available on its internet
      website a final executed copy of each Form 10-D filed by the Securities
      Administrator. Each party to this Agreement acknowledges that the performance
      by
      the Master Servicer and the Securities Administrator of their respective duties
      under this Section 3.19(a) related to the timely preparation, execution and
      filing of Form 10-D is contingent upon such parties strictly observing all
      applicable deadlines in the performance of their duties under this Section
      3.19(a). Neither the Master Servicer nor the Securities Administrator shall
      have
      any liability for any loss, expense, damage, claim arising out of or with
      respect to any failure to properly prepare, execute and/or timely file such
      Form
      10-D, where such failure results from the Securities Administrator’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.

     

    (iv) Form
      10-D
      requires the registrant to indicate (by checking "yes" or "no") that it “(1) has
      filed all reports required to be filed by Section 13 or 15(d) of the Exchange
      Act during the preceding 12 months (or for such shorter period that the
      registrant was required to file such reports), and (2) has been subject to
      such
      filing requirements for the past 90 days.” The Depositor hereby represents to
      the Securities Administrator that the Depositor has filed all such required
      reports during the preceding 12 months and that it has been subject to such
      filing requirement for the past 90 days. The Depositor shall notify the
      Securities Administrator 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 Securities Administrator
      shall be entitled to rely on such representations in preparing, executing and/or
      filing any such report.

     

    
      
        
        

      

      
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    (b) Reports
      Filed on Form 10-K.

     

    (i) On
      or
      prior to the 90th day after the end of each fiscal year of the Trust Fund in
      which a Form 10-K is required to be filed or such earlier date as may be
      required by the Exchange Act (the “10-K
      Filing Deadline”)
      (it
      being understood that the fiscal year for the Trust Fund ends on December
      31st
      of each
      year), commencing in March 2007, the Securities Administrator shall prepare
      and
      file on behalf of the Trust Fund a Form 10-K, in form and substance as required
      by the Exchange Act. Each such Form 10-K shall include the following items,
      in
      each case to the extent they have been delivered to the Securities Administrator
      within the applicable time frames set forth in this Agreement, the related
      Servicing Agreement and Custodial Agreement, (i) an annual compliance statement
      for each Servicer, the Master Servicer and the Securities Administrator and
      any
      Servicing Function Participant engaged by such parties (each, a “Reporting
      Servicer”)
      as
      described under Section 3.17 and in such other agreement, (ii)(A) the annual
      reports on assessment of compliance with servicing criteria for each Reporting
      Servicer, as described under Section 3.16(a), and (B) if any Reporting
      Servicer’s report on assessment of compliance with servicing criteria described
      under Section 3.16(a) identifies any material instance of noncompliance,
      disclosure identifying such instance of noncompliance, or if any Reporting
      Servicer’s report on assessment of compliance with servicing criteria described
      under Section 3.16(a) is not included as an exhibit to such Form 10-K,
      disclosure that such report is not included and an explanation why such report
      is not included, (iii)(A) the registered public accounting firm attestation
      report for each Reporting Servicer, as described under Section 3.16(b), and
      (B)
      if any registered public accounting firm attestation report described under
      Section 3.16(b) identifies any material instance of noncompliance, disclosure
      identifying such instance of noncompliance, or if any such registered public
      accounting firm attestation report is not included as an exhibit to such Form
      10-K, disclosure that such report is not included and an explanation why such
      report is not included, and (iv) a Sarbanes-Oxley Certification as described
      in
      Section 3.18; provided,
      however,
      that
      the Securities Administrator, at its discretion, may omit from the Form 10-K
      any
      annual compliance statement, assessment of compliance or attestation report
      that
      is not required to be filed with such Form 10-K pursuant to Regulation AB.
      Any
      disclosure or information in addition to (i) through (iv) above that is required
      to be included on Form 10-K (“Additional
      Form 10-K Disclosure”)
      shall
      be reported by the parties set forth on Exhibit O to the Depositor and
      Securities Administrator and directed and approved by the Depositor pursuant
      to
      the following paragraph and the Securities Administrator will have no duty
      or
      liability for any failure hereunder to determine or prepare any Additional
      Form
      10-K Disclosure, except as set forth in the next paragraph.

    

    (ii) As
      set
      forth on Exhibit S hereto, no later than March 10 (with a 5 calendar day cure
      period) of each year that the Trust Fund is subject to the Exchange Act
      reporting requirements, commencing in 2007, (i) the parties to the HarborView
      Mortgage Loan Trust 2006-8 transaction shall be required to provide to the
      Securities Administrator and the Depositor, to the extent known by a responsible
      officer thereof, in EDGAR-compatible form (which may be Word or Excel documents
      easily convertible to EDGAR format), or in such other form as otherwise agreed
      upon by the Securities Administrator and such party, the form and substance
      of
      any Additional Form 10-K Disclosure, if applicable, together with an Additional
      Disclosure Notification and (ii) the Depositor will approve, as to form and
      substance, or disapprove, as the case may be, the inclusion of the Additional
      Form 10-K Disclosure on Form 10-K. The Seller will be responsible for any
      reasonable fees and expenses assessed or incurred by the Securities
      Administrator in connection with including any Additional Form 10-K Disclosure
      in Form 10-K pursuant to this paragraph.

     

    
      
        
        

      

      
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    (iii) After
      preparing the Form 10-K, the Securities Administrator shall forward
      electronically a copy of the Form 10-K to the Depositor and its counsel. Within
      three Business Days after receipt of such copy, but no later than March
      25th,
      the
      Depositor shall notify the Securities Administrator in writing of any changes
      to
      or approval of such Form 10-K. In the absence of receipt of any written changes
      or approval, the Securities Administrator shall be entitled to assume that
      such
      Form 10-K is in final form and the Securities Administrator may proceed with
      the
      execution and filing of the Form 10-K. A senior officer of the Master Servicer
      in charge of the master servicing function shall sign each Form 10-K. If a
      Form
      10-K cannot be filed on time or if a previously filed Form 10-K needs to be
      amended, the Securities Administrator will follow the procedures set forth
      in
      subsection (d)(ii) of this Section 3.19. Promptly (but no later than 1 Business
      Day) after filing with the Commission, the Securities Administrator will make
      available on its internet website a final executed copy of each Form 10-K filed
      by the Securities Administrator. The parties to this Agreement acknowledge
      that
      the performance by the Master Servicer and the Securities Administrator of
      its
      duties under this Section 3.19(b) related to the timely preparation, execution
      and filing of Form 10-K is contingent upon such parties (and any Servicing
      Function Participant) strictly observing all applicable deadlines in the
      performance of their duties under this Section 3.19(b), Section 3.18, Section
      3.17, Section 3.16(a) and Section 3.16(b). Neither the Master Servicer nor
      the
      Securities Administrator shall have any liability for any loss, expense, damage
      or claim arising out of or with respect to any failure to properly prepare,
      execute and/or timely file such Form 10-K, where such failure results from
      the
      Securities Administrator’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.

    

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

     

    
      
        
        

      

      
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    (c) Reports
      Filed on Form 8-K.

     

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

    

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

    

    (iii) After
      preparing the Form 8-K, the Securities Administrator shall forward
      electronically a copy of the Form 8-K to the Depositor and its counsel.
      Promptly, but no later than the close of business on the third Business Day
      after the Reportable Event, the Depositor shall notify the Securities
      Administrator in writing of any change to or approval of such Form 8-K. In
      the
      absence of receipt of any written changes or approval, the Securities
      Administrator shall be entitled to assume that such Form 8-K is in final form
      and
      the
      Securities Administrator
      may
      proceed with the execution and filing of the Form 8-K. A duly authorized
      representative of the Master Servicer shall sign each Form 8-K. If a Form 8-K
      cannot be filed on time or if a previously filed Form 8-K needs to be amended,
      the Securities Administrator will follow the procedures set forth in subsection
      (d)(ii) of this Section 3.19. Promptly (but no later than 1 Business Day) after
      filing with the Commission, the Securities Administrator will, make available
      on
      its internet website a final executed copy of each Form 8-K filed by the
      Securities Administrator. The parties to this Agreement acknowledge that the
      performance by the Master Servicer and the Securities Administrator of their
      respective duties under this Section 3.19(c) related to the timely preparation,
      execution and filing of Form 8-K is contingent upon such parties strictly
      observing all applicable deadlines in the performance of their duties under
      this
      Section 3.19(c). Neither the Securities Administrator nor the Master Servicer
      shall have any liability for any loss, expense, damage, claim arising out of
      or
      with respect to any failure to properly prepare, execute and/or timely file
      such
      Form 8-K, where such failure results from the Securities Administrator’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.

     

    
      
        
        

      

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

     

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

     

    (ii) In
      the
      event that the Securities Administrator is unable to timely file with the
      Commission all or any required portion of any Form 8-K, 10-D or 10-K required
      to
      be filed by this Agreement because required disclosure information was either
      not delivered to it or delivered to it after the delivery deadlines set forth
      in
      this Agreement or for any other reason, the Securities Administrator will
      promptly notify the Depositor and its counsel either via mail, e-mail or
      telephone. In the case of Form 10-D and 10-K, the parties to this Agreement
      will
      cooperate to prepare and file a Form 12b-25 and a 10-D/A and 10-K/A, as
      applicable, pursuant to Rule 12b-25 of the Exchange Act. In the case of Form
      8-K, the Securities Administrator 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 Form 8-K, 10-D or 10-K needs to be amended in connection with
      any Additional Form 10-D Disclosure, any Additional Form 10-K Disclosure or
      any
      Form 8-K Disclosure Information or any amendment to such disclosure (other
      than
      for purposes of restating any Distribution Date Statement), the Securities
      Administrator will electronically notify the Depositor and its counsel and
      such
      other parties to the transaction as are affected by such amendment and such
      parties will cooperate to prepare any necessary 8-KA, 10-D/A or 10-K/A. Any
      Form
      15, Form 12b-25 or any amendment to Form 8-K or 10-D shall be signed by a duly
      authorized representative of the Master Servicer. Any Form 10-K amendment shall
      be signed by a senior officer of the Master Servicer in charge of the master
      servicing function. The parties to this Agreement acknowledge that the
      performance by the Master Servicer and the Securities Administrator of their
      respective duties under this Section 3.19(d) related to the timely preparation,
      execution and filing of Form 15, a Form 12b-25 or any amendment to Form 8-K,
      10-D or 10-K is contingent upon each such party performing its duties under
      this
      Section. Neither the Master Servicer nor the Securities Administrator shall
      have
      any liability for any loss, expense, damage, claim arising out of or with
      respect to any failure to properly prepare, execute 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 Securities Administrator’s inability or failure to
      obtain or receive, on a timely basis, any information from any other party
      hereto needed to prepare, arrange for execution or file such Form 15, Form
      12b-25 or any amendments to Forms 8-K, 10-D or 10-K, not resulting from its
      own
      negligence, bad faith or willful misconduct.

     

    
      
        
        

      

      
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    Any
      notice or notification required to be delivered by the Securities Administrator
      to the Depositor pursuant to this Section 3.19 may be delivered via facsimile
      to
      (203) 618-2596 or telephonically by calling (203) 618-4284. Any notice or
      notification required to be delivered by the Securities Administrator to the
      Depositor’s counsel pursuant to this Section 3.19 may be delivered via e-mail to
      jenkim@mckeenelson.com and to dkingsley@mckeenelson.com, or such other address
      as may be provided by the Depositor’s counsel from time to time.

     

    SECTION
      3.20. Additional Information.

     

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

     

    SECTION
      3.21. Intention
      of the Parties and Interpretation.

     

    Each
      of
      the parties acknowledges and agrees that the purpose of Section 3.16 through
      Section 3.22 of this Agreement is to facilitate compliance by the Securities
      Administrator and the Depositor with the provisions of Regulation AB promulgated
      by the Commission under the Exchange Act (17 C.F.R. §§ 229.1100 -
      229.1123), as such may be amended from time to time and subject to such
      clarification and interpretive advice as may be issued by the staff of the
      Commission from time to time. Therefore, each of the parties agrees that (a)
      the
      obligations of the parties hereunder shall be interpreted in such a manner
      as to
      accomplish that purpose, (b) the parties’ obligations hereunder will be
      supplemented and modified as necessary to be consistent with any such
      amendments, interpretive advice or guidance, convention or consensus among
      active participants in the asset-backed securities markets, advice of counsel,
      or otherwise in respect of the requirements of Regulation AB, (c) the parties
      shall comply with the reasonable requests made by the Securities Administrator
      or the Depositor for delivery of such additional or different information as
      the
      Securities Administrator 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
      3.22. Indemnification. 

     

    Each
      party required to deliver an assessment of compliance and attestation report
      pursuant to Section 3.16 or any additional disclosure pursuant to Section 3.19
      and including the Depositor, the Master Servicer, the Securities Administrator,
      the Trustee and any Servicing Function Participant engaged by such party,
      respectively (each, an “Item
      1122 Responsible Party”),
      shall
      indemnify and hold harmless the Securities Administrator, the Master Servicer
      and the Depositor, respectively, and each of their directors, officers,
      employees, agents, and affiliates from and against any and all claims, losses,
      damages, penalties, fines, forfeitures, reasonable legal fees and related costs,
      judgments and other costs and expenses arising out of or based upon (a) any
      breach by such Item 1122 Responsible Party of any of its obligations hereunder
      relating to its obligations as an Item 1122 Responsible Party, including
      particularly its obligations to provide any assessment of compliance,
      attestation report or compliance statement required under Section 3.16(a),
      3.16(b) or 3.17, respectively, or any information, data or materials required
      to
      be included in any Exchange Act report, (b) any material misstatement or
      omission in (x) any compliance certificate delivered by it, or by any Servicing
      Function Participant engaged by it, pursuant to this Agreement, (y) any
      assessment or (except in the case of the Trustee, in its capacity as a
      Custodian) attestation delivered by or on behalf of it, or by any Servicing
      Function Participant engaged by it, pursuant to this Agreement, or (z) any
      Additional Form 10-D Disclosure, Additional Form 10-K Disclosure or Form 8-K
      Disclosure Information concerning such party and provided by it, or (c) the
      negligence, bad faith or willful misconduct of such Item 1122 Responsible Party
      in connection with its performance hereunder relating to its obligations as
      an
      Item 1122 Responsible Party. If the indemnification provided for herein is
      unavailable or insufficient to hold harmless the Master Servicer, the Securities
      Administrator, the Depositor or the Seller, as the case may be, then each Item
      1122 Responsible Party agrees that it shall contribute to the amount paid or
      payable by the Securities Administrator, the Master Servicer and the Depositor,
      as applicable, as a result of any claims, losses, damages or liabilities
      incurred by the Securities Administrator, the Master Servicer or the Depositor
      in such proportion as is appropriate to reflect the relative fault of the
      Securities Administrator, the Master Servicer or the Depositor on the one hand
      and such Item 1122 Responsible Party on the other. This indemnification shall
      survive the termination of this Agreement or the termination of any party to
      this Agreement.

     

    
      
        
        

      

      
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    SECTION
      3.23. [Reserved].

     

    SECTION
      3.24. [Reserved].

     

    SECTION
      3.25. [Reserved].

     

    SECTION
      3.26. [Reserved].

     

    SECTION
      3.27. Closing Certificate and Opinion.

     

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

     

    SECTION
      3.28. [Reserved].

     

    SECTION
      3.29. Merger or Consolidation of the Master Servicer.

     

    (a) The
      Master Servicer will keep in full force and effect its existence, rights and
      franchises as a national banking association under the laws of the jurisdiction
      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.

     

    
      
        
        

      

      
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    (b) Any
      Person into which the Master Servicer may be merged or consolidated, or any
      corporation resulting from any merger or consolidation to which the Master
      Servicer shall be a party, or any Person succeeding to the business of the
      Master Servicer, shall be the successor of 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
      3.30. Indemnification of the Trustee, the Master Servicer and the Securities
      Administrator.

     

    (a) In
      addition to any indemnity required pursuant to Section 3.22 hereof, the Master
      Servicer agrees to indemnify the Indemnified Persons for, and to hold them
      harmless against, any loss, liability or expense (except as otherwise provided
      herein with respect to expenses) (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 this 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), an Indemnified Person shall have given the Master Servicer,
      any
      NIMS Insurer and the Depositor written notice thereof promptly after such
      Indemnified Person shall have with respect to such claim or legal action
      knowledge thereof. The Indemnified Person’s failure to give such notice shall
      not affect the Indemnified Person’s right to indemnification hereunder. This
      indemnity shall survive the resignation or removal of the Trustee, the Master
      Servicer or the Securities Administrator and the termination of this
      Agreement.

     

    (b) The
      Trust
      Fund will indemnify any Indemnified Person for any loss, liability or expense
      of
      any Indemnified Person not otherwise indemnified by the Master Servicer as
      referred to in Subsection (a) above or Subsection (c) below.

     

    (c) In
      addition to any indemnity required pursuant to Section 3.22 hereof, the
      Securities Administrator agrees to indemnify the Indemnified Persons (other
      than
      the Securities Administrator) for, and to hold them harmless against, any loss,
      liability or expense (except as otherwise provided herein with respect to
      expenses) (including reasonable legal fees and disbursements of counsel)
      incurred on their part (i) in connection with, arising out of, or relating
      to
      the Securities Administrator’s failure to file any Exchange Act report which the
      Securities Administrator is responsible for filing in accordance with Section
      3.19, (ii) by reason of the Securities Administrator’s negligence or willful
      misconduct in the performance of such obligations pursuant to Section 3.19
      or
      (iii) by reason of the Securities Administrator’s reckless disregard of such
      obligations pursuant to Section 3.19, provided, in each case, that with respect
      to any such claim or legal action (or pending or threatened claim or legal
      action), an Indemnified Person shall have given the Securities Administrator
      and
      the NIMS Insurer written notice thereof promptly after such Indemnified Person
      shall have with respect to such claim or legal action knowledge thereof. The
      Indemnified Person’s failure to give such notice shall not affect the
      Indemnified Person’s right to indemnification hereunder. This indemnity shall
      survive the resignation or removal of the Trustee, the Master Servicer or the
      Securities Administrator and the termination of this Agreement.

     

    
      
        
        

      

      
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    SECTION
      3.31. Limitations on Liability of the Master Servicer and Others;
      Indemnification of Trustee and Others.

     

    Subject
      to the obligation of the Master Servicer to indemnify the Indemnified Persons
      pursuant to Section 3.30:

     

    (a) The
      Master Servicer has undertaken to perform only such duties as are specifically
      set forth in this Agreement. Neither the Master Servicer nor any of the
      directors, officers, employees or agents of the Master Servicer shall be under
      any liability to the Indemnified Persons, the Depositor, 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 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
      Master Servicer and any director, officer, employee or agent of 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
      Master Servicer, the Trustee (in its individual corporate capacity and as
      Trustee), the Custodians (including for such purpose, the Trustee acting in
      its
      capacity as Custodian) and any director, officer, employee or agent of the
      Master Servicer, the Trustee or the Custodians shall be indemnified by the
      Trust
      Fund and held harmless thereby against any loss, liability or expense (except
      as
      otherwise provided herein with respect to expenses) (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, this Agreement, the
      Certificates or the Servicing Agreements or the transactions contemplated hereby
      or thereby (except, with respect to the Master Servicer, to the extent that
      the
      Master Servicer is indemnified by the related Servicer thereunder), other than
      (i) with respect to the Master Servicer only, any such loss, liability or
      expense related to the Master Servicer’s failure to perform its duties in
      compliance with this Agreement or (ii) with respect to the Master Servicer
      or
      Custodians only, any such loss, liability or expense incurred by reason of
      the
      Master Servicer’s or the applicable Custodian’s willful misfeasance, bad faith
      or gross negligence in the performance of its own duties hereunder or by reason
      of reckless disregard of its own obligations and duties hereunder or under
      a
      custodial agreement.

     

    (d) The
      Master Servicer shall not 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, 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 Trust Fund 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 Master Servicer shall be entitled to
      be
      reimbursed therefor out of the Distribution Account as provided by Section
      4.03.
      Nothing in this Subsection 3.31(d) shall affect the Master Servicer’s obligation
      to supervise, or to take such actions as are necessary to enforce, the servicing
      and administration of the Mortgage Loans pursuant to Sections 3.01 and
      3.03.

     

    
      
        
        

      

      
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    (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 Fund 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.

     

    (f) The
      Master Servicer shall not be liable for any acts or omissions of the Servicers,
      except as otherwise expressly provided herein.

     

    SECTION
      3.32. Master Servicer Not to Resign. 

     

    Except
      as
      provided in Section 3.34, the Master Servicer shall not resign from the
      obligations and duties hereby imposed on it except 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 Independent Opinion
      of Counsel (delivered at the expense of the Master Servicer) to such effect
      delivered to the Trustee and any NIMS Insurer. 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 and any NIMS Insurer shall
      have
      assumed the responsibilities and obligations of the Master Servicer in
      accordance with Section 7.02 hereof. The Trustee shall notify each Rating Agency
      and any NIMS Insurer of the resignation of the Master Servicer.

     

    If,
      at
      any time, Wells Fargo Bank, N.A., as Master Servicer resigns under this Section
      3.28, or sells or assigns its rights and obligations under Section 3.30, or
      is
      removed as Master Servicer pursuant to Section 7.01, then at such time Wells
      Fargo Bank, N.A. also shall resign (and shall be entitled to resign) as
      Securities Administrator, Administrator, Paying Agent and Certificate Registrar
      under this Agreement. No such resignation by Wells Fargo Bank, N.A. as
      Securities Administrator, Administrator, Paying Agent or Certificate Registrar
      under this Agreement shall become effective until a successor Securities
      Administrator, successor Administrator, successor Paying Agent and successor
      Certificate Registrar reasonably satisfactory to the Depositor shall have
      assumed the responsibilities and obligations of the Securities Administrator,
      Administrator, Paying Agent and Certificate Registrar in accordance with this
      Agreement. The Securities Administrator shall notify each Rating Agency of
      the
      resignation of Wells Fargo Bank, N.A. as the Securities Administrator,
      Administrator, Paying Agent and Certificate Registrar. 

     

    
      
        
        

      

      
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    SECTION
      3.33. 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 which in no case shall exceed the Master Servicing Fee. If the
      successor master servicer does not agree that the proposed compensation is
      fair,
      such successor master servicer shall obtain two quotations of market
      compensation from third parties actively engaged in the servicing of
      single-family mortgage loans;
      provided,
      however,
      that
      each Rating Agency shall confirm in writing that any appointment of a successor
      Master Servicer (other than the Trustee) will not result in a downgrade in
      the
      then current rating of any Class of Certificates.

     

    SECTION
      3.34. Sale and Assignment of Master Servicing.

     

    The
      Master Servicer may sell and assign its rights and delegate its duties and
      obligations in their entirety as Master Servicer under this Agreement, with
      the
      written consent of the Depositor and any NIMS Insurer, in each case, which
      consent shall not be unreasonably withheld or delayed, and provided further
      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 Depositor (as evidenced
      in writing signed by the Depositor); 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 ratings 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; and (iii) the Master Servicer assigning and selling
      the master servicing shall deliver to the Trustee and the Depositor an Officer’s
      Certificate and an Independent Opinion of Counsel, (delivered at the Master
      Servicer’s expense) 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.

     

    SECTION
      3.35. Reporting Requirements of the Commission.

     

    To
      the
      extent that, following the Closing Date, the content of Forms 8-K, 10-D, 10-K,
      15 or other Forms required by the Exchange Act and the Rules and Regulations
      of
      the Commission and the time by which such Forms are required to be filed,
      differs from the provisions of this Agreement, the Master Servicer and the
      Securities Administrator hereby agree that each shall reasonably cooperate
      to
      amend the provisions of this Agreement (in accordance with Section 12.01) in
      order to comply with such amended reporting requirements and such amendment
      of
      this Agreement. Notwithstanding the foregoing, neither the Master Servicer
      nor
      the Securities Administrator shall be obligated to enter into any amendment
      pursuant to this Section that adversely affects its obligations or immunities
      under this Agreement.

     

    
      
        
        

      

      
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    SECTION
      3.36. Duties of the Credit Risk Manager.

     

    (a) The
      Certificateholders, by their purchase and acceptance of the Certificates,
      appoint Clayton Fixed Income Services Inc. as Credit Risk Manager. For and
      on
      behalf of the Depositor, the Credit Risk Manager will provide recommendations
      concerning certain delinquent and defaulted Mortgage Loans, and as to the
      collection of any Prepayment Penalty Amounts with respect to the Mortgage Loans.
      Such reports and recommendations will be based upon information provided
      pursuant to a Credit Risk Management Agreement to the Credit Risk Manager by
      the
      Servicers and/or the Master Servicer. The Credit Risk Manager shall look solely
      to the Servicers and/or the Master Servicer for all information and data
      (including loss and delinquency information and data) and loan level information
      and data relating to the servicing of the Mortgage Loans and neither the
      Securities Administrator nor the Trustee shall have any obligation to provide
      any such information to the Credit Risk Manager and shall not otherwise have
      any
      responsibility under the Credit Risk Management Agreement.

     

    (b) If
      applicable, the Credit Risk Manager shall reasonably cooperate with the
      Depositor, the Trustee, any NIMS Insurer and the Securities Administrator in
      connection with the Trust Fund’s satisfying the reporting requirements under the
      1934 Act with respect to any reports which may be prepared by the Credit Risk
      Manager.

     

    SECTION
      3.37. Limitation Upon Liability of the Credit Risk Manager.

     

    Neither
      the Credit Risk Manager, nor any of the directors, officers, employees or agents
      of the Credit Risk Manager, shall be under any liability to the Trustee, the
      Securities Administrator, the Certificateholders or the Depositor for any action
      taken or for refraining from the taking of any action in good faith pursuant
      to
      this Agreement, in reliance upon information provided by Servicers and/or the
      Master Servicer under the applicable Credit Risk Management Agreement or for
      errors in judgment; provided,
      however,
      that
      this provision shall not protect the Credit Risk Manager or any such person
      against liability that would otherwise be imposed by reason of willful
      malfeasance, bad faith or gross negligence in its performance of its duties
      or
      by reason of reckless disregard for its obligations and duties under this
      Agreement or the Credit Risk Management Agreements. The Credit Risk Manager
      and
      any director, officer, employee or agent of the Credit Risk Manager 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, and may rely
      in good faith upon the accuracy of information furnished by the Servicer and/or
      the Master Servicer pursuant to the applicable Credit Risk Management Agreement
      in the performance of its duties thereunder and hereunder.

     

    
      
        
        

      

      
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    SECTION
      3.38. Removal of Credit Risk Manager.

     

    The
      Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders
      holding not less than a 66-2/3% Voting Interests in the Trust, in the exercise
      of its or their sole discretion, at any time, without cause, upon ten (10)
      days
      prior written notice. The Certificateholders shall provide such written notice
      to the Trustee and upon receipt of such notice, the Trustee shall provide
      written notice to the Credit Risk Manager of its removal, effective upon receipt
      of such notice.

     

    ARTICLE
      IV

     

    ACCOUNTS

     

    SECTION
      4.01. Servicing Accounts.

     

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

     

    (b) [Reserved];

     

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

     

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

     

    
      
        
        

      

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

     

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

     

    (iv) [Reserved];

     

    (v) Recoveries
      received by the Servicers with respect to such Mortgage Loans; and

     

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

     

    (d) Withdrawals
      may be made from a Servicing Account only to make remittances as provided in
      Section 4.01(c), 4.02 and 4.03; to reimburse the Master Servicer or a Servicer
      for Advances which have been recovered by subsequent collection from the related
      Mortgagor, to remove amounts deposited in error, to remove fees, charges or
      other such amounts deposited on a temporary basis, or to clear and terminate
      the
      account at the termination of this Agreement in accordance with Section 10.01
      or
      as otherwise provided in the Servicing Agreements. As provided in Sections
      4.01(c) and 4.02(b), certain amounts otherwise due to the Servicers may be
      retained by them and need not be remitted to the Securities
      Administrator.

     

    SECTION
      4.02. Distribution Account. 

     

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

     

    
      
        
        

      

      
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    (i) any
      amounts withdrawn from a Servicing Account pursuant to Section 4.01(c) and
      the
      Servicing Agreements and remitted to the Securities Administrator; 

     

    (ii) any
      amounts required to be deposited in the Distribution Account by the Master
      Servicer with respect to the Mortgage Loans pursuant to this Agreement,
      including (a) Advances and any Compensating Interest Payments required to be
      made by the Master Servicer to the extent required but not made by the Servicers
      and (b) the amount of any Insurance Proceeds or Liquidation Proceeds received
      by
      or on behalf of the Master Servicer which were not deposited in a Servicing
      Account;

     

    (iii) any
      Insurance Proceeds, Liquidation Proceeds or Recoveries received by or on behalf
      of the Master Servicer which were not deposited in a Servicing Account;

     

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

     

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

     

    (vi) any
      other
      amounts received by or on behalf of the Master Servicer or the Securities
      Administrator and required to be deposited in the Distribution Account pursuant
      to this Agreement.

     

    (b) All
      amounts deposited to the Distribution Account shall be held by the Securities
      Administrator in the name of the Trustee in trust for the benefit of the Trust
      Fund and Certificateholders in accordance with the terms and provisions of
      this
      Agreement. The requirements for crediting the Distribution Account shall be
      exclusive, it being understood and agreed that, without limiting the generality
      of the foregoing, payments in the nature of (i) late payment charges or
      assumption fees, tax service fees, statement account charges or payoff-charges,
      substitution, satisfaction, release and other like fees and charges (but not
      including any Prepayment Penalty Amounts, unless specified in the related
      Servicing Agreement) and (ii) the items enumerated in Subsections 4.03(a)(i),
      (ii), (iii), (iv), (vi), (vii), (ix) and (x) with respect to the Securities
      Administrator, need not be remitted by the Servicers to the Master Servicer
      to
      the Distribution Account. In the event that the Master Servicer shall deposit
      or
      cause to be deposited to the Distribution Account any amount not required to
      be
      credited thereto, the Securities Administrator, upon receipt of a written
      request therefor signed by a Servicing Officer of the Master Servicer, shall
      promptly transfer such amount to the Master Servicer, any provision herein
      to
      the contrary notwithstanding.

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

    (viii) to
      pay
      the Master Servicer its monthly Master Servicing Fee and any investment income
      and other additional servicing compensation payable pursuant to Section
      3.14;

     

    (ix) to
      reimburse the Master Servicer or the Securities Administrator for any expenses
      recoverable by the Master Servicer or the Securities Administrator pursuant
      to
      Sections 3.03 and 3.31;

     

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

     

    (xi) to
      reimburse the Trustee and the Securities Administrator for expenses, costs
      and
      liabilities incurred by or reimbursable to it from funds of the Trust Fund
      pursuant to Sections 3.30, 3.31 or 8.05, and to reimburse the Trustee for any
      fees, costs and expenses costs incurred by or reimbursable to it pursuant to
      Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise
      reimbursed to it;

     

    (xii) to
      pay to
      the Master Servicer all investment earnings on amounts on deposit in the
      Distribution Account to what it is entitled under Section 4.02(c);

     

    (xiii) to
      pay
      the Credit Risk Manager the Credit Risk Manager Fee;

     

    (xiv) to
      remove
      amounts deposited in error; and

     

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

     

    (b) In
      addition, on or before the Business Day immediately preceding each Distribution
      Date, the Master Servicer shall deposit in the Distribution Account (or remit
      to
      the Securities Administrator for deposit therein) any Advances or Compensating
      Interest Payments, to the extent required to be made but not made by a Servicer
      and required to be made by the Master Servicer hereunder with respect to the
      Mortgage Loans.

     

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

     

    
      
        
        

      

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

     

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

     

    SECTION
      4.04. [Reserved].

     

    SECTION
      4.05. [Reserved].

     

    ARTICLE
      V

     

    FLOW
      OF FUNDS

     

    SECTION
      5.01. Distributions.

     

    (a) (1)
      On
      each Distribution Date and after making any withdrawals from the Distribution
      Account pursuant to Section 4.03(a), the Securities Administrator, as Paying
      Agent, shall withdraw funds on deposit in the Distribution Account to the extent
      of Available Funds for each Loan Group for such Distribution Date and, based
      on
      the Distribution Date Statement, make the following disbursements and transfers
      as set forth below:

     

    (i)the
      Available Funds for each Loan Group shall be distributed on each Distribution
      Date other than on the Distribution Date following the optional purchase of
      the
      Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following
      order of priority:

     

    (A) on
      the
      Distribution Date in September 2016 and on each Distribution Date until the
      Final Maturity Reserve Termination Date, if the aggregate Stated Principal
      Balance of the Mortgage Loans with 40-year original terms to maturity at the
      end
      of the related Due Period is greater than the balance set forth in the Final
      Maturity Reserve Schedule for that Distribution Date, for deposit in the Final
      Maturity Reserve Account, the Final Maturity Reserve Amount;

     

    (B) from
      the
      remaining Interest Remittance Amount for the related Loan Group to the holders
      of the Class 1A-1, Class 2A-1A, Class 2A-1B and Class 2A-1C, as applicable,
      the
      related Monthly Interest Distributable Amount and the related Unpaid Interest
      Shortfall Amount, if any, to which each such Class is entitled, in each case,
      on
      a pro rata basis to each such Class in the related Certificate Group based
      on
      the amounts due such Class; provided,
      that if
      the Interest Remittance Amount for Loan Group 1 is insufficient to pay the
      Class
      1A-1 Certificates the related Monthly Interest Distributable Amount, the
      Securities Administrator shall withdraw the amount of such deficiency shortfalls
      from the remaining Interest Remittance Amount for Loan Group 2 after
      distributions are made of the Monthly Interest Distributable Amount to the
      Class
      2A-1A, Class 2A-1B and Class 2A-1C Certificates, and if the Interest Remittance
      Amount for Loan Group 2 is insufficient to pay the Class 2A-1A, Class 2A-1B
      and
      Class 2A-1C Certificates the related Monthly Interest Distributable Amount,
      the
      Securities Administrator shall withdraw the amount of such deficiency shortfalls
      from the remaining Interest Remittance Amount for Loan Group 1 after
      distributions are made of the Monthly Interest Distributable Amount to the
      Class
      1A-1 Certificates;

     

    
      
        
        

      

      
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    (C) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-1 Certificates, the related Monthly Interest Distributable
      Amount;

     

    (D) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-2 Certificates, the related Monthly Interest Distributable Amount;
      

     

    (E) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-3 Certificates, the related Monthly Interest Distributable
      Amount;

     

    (F) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-4 Certificates, the related Monthly Interest Distributable
      Amount;

     

    (G) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-5 Certificates, the related Monthly Interest Distributable Amount;
      

     

    (H) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-6 Certificates, the related Monthly Interest Distributable
      Amount;

     

    (I) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-7 Certificates, the related Monthly Interest Distributable Amount;
      

     

    (J) from
      the
      remaining Interest Remittance Amounts for both Loan Groups, to the holders
      of
      the Class B-8 Certificates, the related Monthly Interest Distributable Amount;
      and

     

    
      
        
        

      

      
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    (K) for
      application as part of Net Monthly Excess Cashflow for such Distribution Date,
      as described under Section 5.01(a)(1)(iv) below.

     

    On
      any
      Distribution Date, any shortfalls resulting from the application of the Relief
      Act and any Prepayment Interest Shortfalls to the extent not covered by
      Compensating Interest Payments will be allocated to the Monthly Interest
      Distributable Amounts with respect to the LIBOR Certificates on a pro
      rata basis,
      based on the respective amounts of interest accrued on such Certificates for
      such Distribution Date. The holders of the LIBOR Certificates will not be
      entitled to reimbursement for any such interest shortfalls.

     

    (ii)On
      each
      Distribution Date (a) prior to the applicable Stepdown Date or (b) on which
      a
      Trigger Event is in effect, distributions in respect of principal to the extent
      of the Principal Distribution Amount for each Loan Group will be distributed
      in
      the following amounts and order of priority:

     

    (A) from
      the
      related Principal Distribution Amount for the related Loan Group, to the holders
      of the Class 1A-1, Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, as
      the
      case may be, the Principal Distribution Amount, pro
      rata,
      based
      on their Certificate Principal Balances immediately prior to such Distribution
      Date, until their respective Certificate Principal Balances are reduced to
      zero;

     

    (B) from
      the
      Principal Distribution Amount for both Loan Groups

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    (8) to
      the
      holders of Class B-8 Certificates, until the Certificate Principal Balance
      thereof has been reduced to zero; and

     

    
      
        
        

      

      
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    (9) for
      application as part of Net Monthly Excess Cashflow for such Distribution Date,
      as described under Section 5.01(a)(1)(iv) below.

     

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

     

    (A) concurrently,
      pro
      rata
      (a) to
      the holders of the Class 1A-1 Certificates, the Group 1 Principal Distribution
      Amount based on the Class Principal Balance immediately prior to such
      Distribution Date, until the Class Principal Balance is reduced to zero, and
      (b)
      to the holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates,
      the
      Group 2 Principal Distribution Amount pro
      rata
      based on
      their Class Principal Balances immediately prior to such Distribution Date,
      until their respective Class Principal Balances are reduced to
      zero;

     

    (B) from
      the
      Principal Distribution Amount for both Loan Groups

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    (8) to
      the
      holders of the Class B-8 Certificates, the Class B-8 Principal Distribution
      Amount; and

     

    (9) for
      application as part of Net Monthly Excess Cashflow for such Distribution Date,
      as described under Section 5.01(a)(1)(iv) below.

     

    
      
        
        

      

      
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    (iv)On
      each
      Distribution Date, other than the Distribution Date following the optional
      purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess
      Cashflow shall be distributed as follows:

     

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

     

    (B) to
      the
      Holders of the Class B-1 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (C) to
      the
      Holders of the Class B-1 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (D) to
      the
      Holders of the Class B-2 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (E) to
      the
      Holders of the Class B-2 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (F) to
      the
      Holders of the Class B-3 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (G) to
      the
      Holders of the Class B-3 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (H) to
      the
      Holders of the Class B-4 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (I) to
      the
      Holders of the Class B-4 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (J) to
      the
      Holders of the Class B-5 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (K) to
      the
      Holders of the Class B-5 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (L) to
      the
      Holders of the Class B-6 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (M) to
      the
      Holders of the Class B-6 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (N) to
      the
      Holders of the Class B-7 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates; 

     

    
      
        
        

      

      
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    (O) to
      the
      Holders of the Class B-7 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (P) to
      the
      Holders of the Class B-8 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates; 

     

    (Q) to
      the
      Holders of the Class B-8 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (R) to
      the
      Basis Risk Reserve Fund, any Required Reserve Fund Deposit;

     

    (S) to
      the
      Holders of the Class C Certificates, the Class C Distributable
      Amount;

     

    (T) on
      the
      Distribution Date immediately following the last Distribution Date on which
      Prepayment Penalty Amounts can be collected by any Servicer, to the Holders
      of
      the Class P Certificates, $100.00;

     

    (U) to
      the
      Holder of the Class R Certificate, any Available Funds, other than any portion
      thereof in respect of Premium Proceeds, then remaining; and

     

    (V) on
      the
      final Distribution Date, to the Holder of the Class C Certificate the Premium
      Proceeds.

     

    (ii) (iv) On
      the
      Distribution Date following the optional purchase of the Mortgage Loans pursuant
      to Section 10.01, Available Funds will be applied in the amounts and in the
      order specified above in this Section 5.01(a)(1), except, no amounts will
      distributed pursuant to Sections 5.01(a)(1)(iv)(S) and 5.01(a)(1)(iv)(U) above,
      and the portion of Available Funds remaining after the ditribution pursuant
      to
      Sections 5.01(a)(1)(i), 5.01(a)(1)(ii), 5.01(a)(1)(iii) and 5.01(a)(1)(iv)
      will
      be applied in the following order:

     

    (A) in
      the
      amounts and the priority set forth in Section 5.01(a)(1)(ii);

     

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

     

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

     

    (2) On
      each
      Distribution Date, the Securities Administrator, as Paying Agent, shall
      distribute to the Holder of the Class P Certificate all Prepayment Penalty
      Amounts in respect of the Mortgage Loans received by the Servicers and remitted
      to the Securities Administrator for the related Prepayment Period.

     

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

     

    
      
        
        

      

      
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    (c) On
      each
      Distribution Date, the Monthly Interest Distributable Amounts for the Classes
      of
      Senior Certificates and Subordinate Certificates on such Distribution Date
      shall
      be reduced proportionately, based on (A) in the case of the Senior Certificates,
      the Monthly Interest Distributable Amount to which they would otherwise be
      entitled and (B) in the case of the Subordinate Certificates, interest accrued
      at the related Pass-Through Rate on the related Apportioned Principal Balance
      of
      each such Class, by Net Interest Shortfalls with respect to the related Loan
      Group.

     

    (d) Notwithstanding
      the priorities and allocations set forth in Section 5.01(a) above, if on any
      Distribution Date on which the Senior Certificates related to a Loan Group
      constitute an Undercollateralized Group, all amounts otherwise distributable
      as
      Available Funds on the Subordinate Certificates, in reverse order of priority
      (or, following the Senior Credit Support Depletion Date, such other amounts
      described in the immediately following sentence), will be distributed as
      principal to the Senior Certificates of such Undercollateralized Group in the
      same order and priority and allocation provided in Section 5.01(a), first,
      up
      to the
      sum of the Accrued Interest Amount and the Principal Deficiency Amount for
      the
      Undercollateralized Group (such distribution, an “Undercollateralization
      Distribution”)
      and
second,
      to pay
      to the Subordinate Certificates and the Residual Certificates in the same order
      and priority as provided in Section 5.01(a)(1)(ii), (iii) and (iv). In the
      event
      that the Senior Certificates related to a Loan Group constitute an
      Undercollateralized Group on any Distribution Date following the Senior Credit
      Support Depletion Date, Undercollateralization Distributions will be made from
      any Available Funds from the Loan Group not related to an Undercollateralized
      Group remaining after all required amounts have been distributed to the related
      Class of Senior Certificates related to such other Loan Group.
      Undercollateralization Distributions will be applied first
      to pay
      accrued but unpaid interest, if any, and second
      to pay
      principal in the same priority and allocation provided in Section
      5.01(a).

     

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

     

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

     

    
      
        
        

      

      
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    (g) Distributions
      from Final Maturity Reserve Account.
      On the
      Final Maturity Reserve Termination Date, the Securities Administrator shall
      distribute the funds on deposit in the Final Maturity Reserve Account on such
      date in the following order of priority:

     

    (i)to
      the
      Class 1A-1, Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro
      rata,
      after
      giving effect to principal distributions on such Distribution Date pursuant
      to
      Sections 5.01(a)(1)(ii) or (iii) above, as applicable, in reduction of their
      respective Class Principal Balances, until the Class Principal Balance of each
      such Class has been reduced to zero;

     

    (ii)to
      the
      Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6, Class B-7
      and
      Class B-8 Certificates, sequentially, in that order, after giving effect to
      principal distributions on such Distribution Date pursuant to Sections
      5.01(a)(1)(ii) or (iii) above, as applicable, in reduction of their respective
      Class Principal Balances, until the Class Principal Balance of each such class
      has been reduced to zero;

     

    (iii)
      to
      the Class 1A-1, Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates,
pro
      rata,
      any
      Interest Distributable Amounts for each such Class remaining unpaid on such
      Distribution Date; and

     

    (iv)
      to
      the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6, Class
      B-7
      and Class B-8 Certificates, sequentially, in that order, any Interest
      Distributable Amounts for each such Class remaining unpaid on such Distribution
      Date; and

     

    (v)
      to
      the extent of any funds remaining in the Final Maturity Reserve Account after
      payment pursuant to clauses (i) through (iv) above, to the Class C
      Certificates;

     

    SECTION
      5.02. Allocation of Net Deferred Interest.

     

    For
      any
      Distribution Date, the Net Deferred Interest on the Mortgage Loans will be
      allocated among the Classes of Certificates in proportion to the excess, if
      any,
      for each such Class of (i) the Monthly Interest Distributable Amount accrued
      at
      the Pass-Through Rate for such Class, over (ii) the amount of the Monthly
      Interest Distributable Amount for such Class and for such Distribution Date
      calculated at the related Adjusted Cap Rate for such Class. Any Net Deferred
      Interest that is not allocable to any Class of LIBOR Certificates pursuant
      to
      the preceding sentence shall be allocated to the Class C
      Certificates.

     

    On
      each
      Distribution Date, any amount of Net Deferred Interest allocable to a Class
      of
      Certificates on such Distribution Date will be added as Principal to the
      outstanding Class Principal Balance of such Class of Certificates. 

     

    SECTION
      5.03. Allocation of Realized Losses.

     

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

     

    
      
        
        

      

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

     

    first,
      to Net
      Monthly Excess Cashflow; 

     

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

     

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

     

    fourth,
      with
      respect such losses related to Loan Group 2 Mortgage Loans, to the Class 2A-1A,
      Class 2A-1B and Class 2A-1C Certificates, pro
      rata,
      until
      the Class Principal Balance of such Class is reduced to zero; provided,
      however,
      that
      all losses allocable to the Class 2A-1A, Class 2A-1B and Class 2A-1C
      Certificates will be allocated sequentially to the Class 2A-1C, Class 2A-1B
      and
      Class 2A-1A Certificates, in that order, for so long as such certificates are
      outstanding.

     

    Realized
      Losses shall not be allocated to the Class 1A-1 Certificates.

     

    (c) The
      Class
      Principal Balance of first, the Class C Certificates and second, the Class
      of
      Certificates then outstanding (other than the Class 1A-1 Certificates) with
      the
      highest numerical Class designation shall be reduced on each Distribution Date
      by the amount, if any, by which the aggregate of the Class Principal Balances
      of
      all outstanding Classes of Certificates (after giving effect to the distribution
      of principal and the allocation of Realized Losses on such Distribution Date)
      exceeds the aggregate of the Stated Principal Balances of all the Mortgage
      Loans
      for the following Distribution Date.

     

    (d) Any
      Realized Loss allocated to a Class of Certificates or any reduction in the
      Class
      Principal Balance of a Class of Certificates pursuant to Section 5.03(b) or
      (c)
      (other than the Class 1A-1 Certificates) shall be allocated among the
      Certificates of such Class, pro
      rata,
      in
      proportion to their respective Certificate Principal Balances.

     

    (e) Any
      allocation of Realized Losses to a Certificate or any reduction in the
      Certificate Principal Balance of a Certificate pursuant to Section 5.03(b)
      or
      (c) (other than the Class 1A-1 Certificates) shall be accomplished by reducing
      the Certificate Principal Balance thereof immediately following the
      distributions made on the related Distribution Date in accordance with the
      definition of “Certificate Principal Balance.”

     

    
      
        
        

      

      
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    SECTION
      5.04. Statements. 

     

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

     

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

     

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

     

    (iii) [Reserved];

     

    (iv) the
      aggregate amount of Servicing Fees, Master Servicing Fees and Credit Risk
      Manager’s Fees for the related Due Period;

     

    (v) the
      amount of Advances for each Loan Group and the aggregate amount of Advances
      for
      the related Due Period and the amount of unreimbursed Advances;

     

    (vi) the
      Loan
      Group Balance for each Loan Group and the Net WAC for each Loan Group at the
      Close of Business at the end of the related Due Period;

     

    (vii) 
      [Reserved];

     

    (viii) for
      each
      Loan Group, the aggregate Principal Balance of the MTA Indexed Mortgage Loans
      at
      the Close of Business at the end of the related Due Period;

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    (xiii) for
      each
      Loan Group, the aggregate amount of Principal Prepayments with respect to each
      Loan Group made during the related Prepayment Period;

     

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

     

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

     

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

     

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

     

    (xviii) for
      each
      Loan Group, the related Available Funds;

     

    (xix) for
      each
      Loan Group, the Pass-Through Rate and related Adjusted Cap Rate for each Class
      of Certificates for such Distribution Date; 

     

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

     

    (xxi) for
      each
      Loan Group, the amount of any Principal Deficiency Amounts or Accrued Interest
      Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section
      5.01(f)(i); 

     

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

     

    (xxiii) for
      each
      Loan Group, the amount of Deferred Interest and Net Deferred Interest, if any,
      for such Loan Group;

     

    (xxiv) the
      amount of Net Deferred Interest, if any, added to the Class Principal Balance
      of
      the Certificates

     

    (xxv) the
      amount of any Unpaid Interest Shortfall Amount;

     

    
      
        
        

      

      
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    (xxvi) the
      amount of any Final Maturity Reserve Amount deposited in the Final Maturity
      Reserve Account, and, on the Final Maturity Reserve Termination Date, the amount
      distributed from the Final Maturity Reserve Account to each Class of
      Certificates;

     

    (xxvii) the
      Overcollateralized Amount for that Distribution Date;

     

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

     

    (xxix) the
      number of Mortgage Loans and the aggregate Stated Principal Balance of Mortgage
      Loans that have negative amortization; and

     

    (xxx) the
      amount of any Class P Distributable Amount.

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        109

        
          

        

      

      
        
        

      

    

     

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

     

    SECTION
      5.05. Remittance Reports; Advances. 

     

    (a) No
      later
      than the second Business Day following each Determination Date, the Master
      Servicer shall deliver to the Securities Administrator by telecopy or electronic
      mail (or by such other means as the Master Servicer and the Securities
      Administrator may agree from time to time) the Remittance Report with respect
      to
      the related Distribution Date. Not later than the Close of Business New York
      time three Business Days prior to the related Distribution Date, the Master
      Servicer shall deliver or cause to be delivered to the Securities Administrator
      in addition to the information provided on the Remittance Report, such other
      loan-level information reasonably available to it with respect to the Mortgage
      Loans as the Securities Administrator may reasonably require to perform the
      calculations necessary to make the distributions contemplated by Section
      5.01. 

     

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

     

    SECTION
      5.06. Compensating Interest Payments.

     

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

     

    
      
        
        

      

      
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    SECTION
      5.07. Basis Risk Reserve Fund.

     

    (a) On
      the
      Closing Date, the Securities Administrator shall establish and maintain in
      its
      name, in trust for the benefit of the holders of the Class 1A-1, Class 2A-1A,
      Class 2A-1B, Class 2A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class
      B-5,
      Class B-6, Class B-7 and Class B-8 Certificates, a Basis Risk Reserve Fund.
      The
      Basis Risk Reserve Fund shall be an Eligible Account, and funds on deposit
      therein shall be held separate and apart from, and shall not be commingled
      with,
      any other moneys, including, without limitation, other moneys of the Securities
      Administrator held pursuant to this Agreement. The Basis Risk Reserve Fund
      shall
      not be an asset of any REMIC established hereby.

     

    (b) On
      each
      Distribution Date, Net Monthly Excess Cashflow shall be deposited in the Basis
      Risk Reserve Fund to the extent of the Required Reserve Fund Deposit pursuant
      to
      Section 5.01(a)(1)(iv)(R).

     

    (c) On
      any
      Distribution Date for which a Basis Risk Shortfall exists with respect to the
      Class 1A-1, Class 2A-1A, Class 2A-1B, Class 2A-1C, Class B-1, Class B-2, Class
      B-3, Class B-4, Class B-5, Class B-6, Class B-7 and Class B-8 Certificates,
      the
      Securities Administrator, as Paying Agent for the Trustee, shall withdraw from
      the Basis Risk Reserve Fund, the amount of any such remaining Basis Risk
      Shortfall for distribution on such Distribution Date to the Class 1A-1, Class
      2A-1A, Class 2A-1B and Class 2A-1C any related Basis Risk Shortfall for such
      Distribution Date on a pro
      rata
      basis,
      based on the respective amounts of Basis Risk Shortfalls for such Distribution
      Date and then sequentially to the Class B-1, Class B-2, Class B-3, Class B-4,
      Class B-5, Class B-6, Class B-7 and Class B-8 Certificates in that order up
      to
      the amount of Basis Risk Shortfalls due each such Class for such Distribution
      Date.

     

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

     

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

     

    SECTION
      5.08. Recoveries. 

     

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

     

    
      
        
        

      

      
        111

        
          

        

      

      
        
        

      

    

     

    (i) first,
      the Class Principal Balance of each Class of Senior Certificates related to
      the
      Loan Group from which the Recovery was collected, will be increased,
pro
      rata
      based on
      Realized Losses allocated to such Class, up to the amount by which Net Realized
      Losses previously allocated to each such Class exceeds the amount of Recoveries
      for such Distribution Date previously distributed to such Class,
      and

     

    (ii) second,
      the Class Principal Balance of each Class of Subordinate Certificates will
      be
      increased in order of seniority, up to the amount by which Net Realized Losses
      previously allocated to each such Class exceeds the amount of Recoveries for
      such Distribution Date previously distributed to such Class.

     

    SECTION
      5.09. The Final Maturity Reserve Trust.

     

    (a) The
      Final
      Maturity Reserve Trust is hereby established as a separate trust, the corpus
      of
      which shall be held by the Securities Administrator, in trust, for the benefit
      of the holders of the Certificates (other than the Class P Certificates). The
      Securities Administrator shall establish an account (the “Final Maturity Reserve
      Account”). The Final Maturity Reserve 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 Securities Administrator held pursuant to this Agreement. Notwithstanding
      anything herein to the contrary, the Securities Administrator will only
      establish the Final Maturity Reserve Account if there is any Final Maturity
      Reserve Amount to be deposited therein. 

     

    (b) The
      Securities Administrator shall deposit into the Final Maturity Reserve Account
      any Final Maturity Reserve Amounts pursuant to Section 5.01(a)(1)(i)(A). The
      Securities Administrator shall distribute the funds in the Final Maturity
      Reserve Account pursuant to Section 5.01(g).

     

    (c) Funds
      in
      the Final Maturity Reserve Account shall be invested in Permitted Investments
      at
      the written direction of the Holders of the Class C Certificates. Any earnings
      on such amounts shall be distributed pursuant to Section 5.01(g). The Class
      C
      Certificates shall evidence ownership of the Final Maturity Reserve Trust for
      federal income tax purposes and the Holder thereof shall direct the Securities
      Administrator, in writing, as to investment of amounts on deposit therein.
      The
      Class C Certificateholders shall be liable for any losses incurred on such
      investments. In the absence of written instructions from the Class C
      Certificateholders as to investment of funds on deposit in the Final Maturity
      Reserve Account, such funds shall be invested in the Wells Fargo Advantage
      Prime
      Investment Money Market Fund or comparable investment vehicle.

     

    (d) Upon
      termination of the Trust, any amounts remaining in the Final Maturity Reserve
      Account shall be distributed pursuant to the priorities in Section
      5.01(g).

     

    (e) For
      federal income tax purposes, any Certificateholder that receives a principal
      payment from the Final Maturity Reserve Trust shall be treated as selling a
      portion of its Certificate to the Class C Certificateholder and as having
      received the amount of the principal payment from the Class C Certificateholder
      as the proceeds of the sale. The portion of the Certificate that is treated
      as
      having been sold shall equal the amount of the corresponding reduction in the
      Class Principal Balance of such Certificate. Principal payments received from
      the Final Maturity Reserve Trust shall not be treated as distributions from
      any
      REMIC created hereby. All principal distributions from the Final Maturity
      Reserve Account shall be accounted for hereunder in accordance with this Section
      5.09(f).

     

    
      
        
        

      

      
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    ARTICLE
      VI

     

    THE
      CERTIFICATES

     

    SECTION
      6.01. The Certificates.

     

    The
      Certificates shall be substantially in the form annexed hereto as Exhibit A
      through D. Each of the Certificates shall, on original issue, be executed by
      the
      Securities Administrator and authenticated and delivered by the Certificate
      Registrar upon the written order of the Depositor concurrently with the sale
      and
      assignment to the Trustee of the Trust Fund. Each Class of the Regular
      Certificates shall be initially evidenced by one or more Certificates
      representing a Percentage Interest with a minimum dollar denomination of $25,000
      and integral dollar multiples of $1 in excess thereof, in the case of the Class
      1A-1, Class 2A-1A, Class 2A-1B, Class 2A-1C, Class B-1, Class B-2, Class B-3,
      Class B-4, Class B-5, Class B-6, Class B-7 and Class B-8 Certificates;
provided,
      however,
      that
      the Offered Certificates shall only be sold to initial investors in minimum
      total investment amounts of $100,000. The Class C, Class P and Class R
      Certificates are issuable only in a Percentage Interest of 100%.

     

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

     

    
      
        
        

      

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

     

    SECTION
      6.02. Registration of Transfer and Exchange of Certificates. 

     

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

    
      
        
        

      

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

     

    No
      transfer of an Offered Certificate prior to the termination of the Final
      Maturity Reserve Trust shall be made unless the Certificate Registrar shall
      have
      received a representation letter from the transferee of such Certificate,
      substantially in the form set forth in Exhibit I-2, to the effect that either
      (i) such transferee is neither a Plan nor a Person acting on behalf of any
      such
      Plan or using the assets of any such Plan to effect such transfer or (ii) the
      acquisition and holding of the Offered Certificate are eligible for exemptive
      relief under the statutory exemption for nonfiduciary service providers under
      Section 408(b)(17) of ERISA and Section 4975(d)(20) of the Code or Prohibited
      Transaction Class Exemption (“PTCE”) 84-14, PTCE 90-1, PTCE 91-38, PTCE 95-60 or
      PTCE 96-23. Notwithstanding anything else to the contrary herein, any purported
      transfer of an Offered Certificate prior to the termination of the Final
      Maturity Reserve Trust to or on behalf of a Plan without the delivery to the
      Certificate Registrar of a representation letter as described above shall be
      void and of no effect. If the Offered Certificate is a Book-Entry Certificate,
      the transferee will be deemed to have made a representation as provided in
      clause (i) or (ii) of this paragraph, as applicable.

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

    SECTION
      6.04. Persons Deemed Owners.

     

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

     

    SECTION
      6.05. Appointment of Paying Agent.

     

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

     

    
      
        
        

      

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

     

    ARTICLE
      VII

     

    DEFAULT

     

    SECTION
      7.01. Event of Default. 

     

    (a) If
      any
      one of the following events (each, an “Event
      of Default”)
      shall
      occur and be continuing: 

     

    (i) the
      failure by the Master Servicer to (A) make any Advance on the Business Day
      immediately preceding the related Distribution Date or (B) to deposit in the
      Distribution Account any deposit required to be made under the terms of this
      Agreement, and in either case such failure continues unremedied for a period
      of
      one Business Day after the date upon which written notice of such failure,
      requiring the same to be remedied, shall have been given to the Master Servicer
      (or, if applicable, such shorter time period as is provided in the penultimate
      sentence of Section 7.01(c)); or

     

    (ii) the
      failure by the Master Servicer duly to observe or perform, in any material
      respect, any other covenants, obligations or agreements of the Master Servicer
      as set forth in this Agreement, which failure continues unremedied for a period
      of 60 days, in each case after the date (A) on which written notice of such
      failure, requiring the same to be remedied, shall have been given to the Master
      Servicer by the Trustee or to the Master Servicer and the Trustee by Holders
      of
      Certificates evidencing at least 25% of the Voting Rights or (B) on which a
      Servicing Officer of the Master Servicer has actual knowledge of such failure
      (or, in the case of a breach of its obligation beyond any applicable cure period
      to provide an assessment of compliance, an attestation report or a
      Sarbanes-Oxley Certification pursuant to Sections 3.16 and 3.18, respectively);
      or

     

    (iii) the
      entry
      against the Master Servicer of a decree or order by a court or agency or
      supervisory authority having jurisdiction in the premises for the appointment
      of
      a trustee, conservator, receiver or liquidator in any insolvency,
      conservatorship, receivership, readjustment of debt, marshalling of assets
      and
      liabilities or similar proceedings, or for the winding up or liquidation of
      its
      affairs, and the continuance of any such decree or order unstayed and in effect
      for a period of 60 days; or 

     

    (iv) the
      Master Servicer shall voluntarily go into liquidation, consent to the
      appointment of a conservator or receiver or liquidator or similar person in
      any
      insolvency, readjustment of debt, marshalling of assets and liabilities or
      similar proceedings of or relating to the Master Servicer or of or relating
      to
      all or substantially all of its property; or a decree or order of a court or
      agency or supervisory authority having jurisdiction in the premises for the
      appointment of a conservator, receiver, liquidator or similar person 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, unbonded or unstayed for a period of 60
      days; or 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 any
      applicable insolvency or reorganization statute, make an assignment for the
      benefit of its creditors or voluntarily suspend payment of its
      obligations;

     

    
      
        
        

      

      
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    (b) then,
      and
      in each and every such case, so long as an Event of Default shall not have
      been
      remedied within the applicable grace period, the Trustee shall, at the written
      direction of the Holders of Certificates evidencing Voting Rights aggregating
      not less than 51%, or at its option may, by notice then given in writing to
      the
      Master Servicer, terminate all of the rights and obligations of the Master
      Servicer as servicer under this Agreement. Any such notice to the Master
      Servicer shall also be given to each Rating Agency, any NIMS Insurer, the
      Depositor, the Credit Risk Manager and the Seller. On or after the receipt
      by
      the Master Servicer (and by the Trustee if such notice is given by the Holders)
      of such written notice, all authority and power of the Master Servicer under
      this Agreement, whether with respect to the Certificates or the Mortgage Loans
      or otherwise, shall pass to and be vested in the Trustee and the Trustee is
      hereby authorized and empowered to execute and deliver, on behalf of the 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 of each Mortgage Loan and related
      documents or otherwise. The Master Servicer agrees to cooperate with the Trustee
      in effecting the termination of the responsibilities and rights of the Master
      Servicer hereunder, including, without limitation, the delivery to the Trustee
      of all documents and records requested by it to enable it to assume the Master
      Servicer's functions under this Agreement within ten Business Days subsequent
      to
      such notice and the transfer within one Business Day subsequent to such notice
      to the Trustee for the administration by it of all cash amounts that shall
      at
      the time be held by the Master Servicer and to be deposited by it in the
      Distribution Account, any REO Account or any Servicing Account or that have
      been
      deposited by the Master Servicer in such accounts or thereafter received by
      the
      Master Servicer with respect to the Mortgage Loans or any REO Property received
      by the Master Servicer. All reasonable costs and expenses (including attorneys'
      fees) incurred in connection with transferring the Master Servicer's duties
      and
      the Mortgage Files to the successor Master Servicer and amending this Agreement
      to reflect such succession as Master Servicer pursuant to this Section shall
      be
      paid by the predecessor Master Servicer (or if the predecessor Master Servicer
      is the Trustee, the terminated Master Servicer) upon presentation of reasonable
      documentation of such costs and expenses.
      The
      termination of the rights and obligations of the Master Servicer shall not
      affect any liability it may have incurred prior to such termination. To the
      extent that such costs and expenses of the Trustee are not fully and timely
      reimbursed by the predecessor Master Servicer, the Trustee shall be entitled
      to
      reimbursement of such costs and expenses from the Distribution
      Account.

     

    (c) The
      Securities Administrator shall not later than the close of business on the
      Business Day immediately preceding the related Distribution Date notify the
      Trustee in writing of the Master Servicer’s failure to make any Advance required
      to be made under this Agreement on such date and the amount of such Advance.
      By
      no later than 10:00 A.M. (Chicago time) on the relevant Distribution Date,
      the
      Securities Administrator shall notify the Trustee of the continuance of such
      failure or that the Master Servicer has made the Advance, as the case may be.
      Notwithstanding the terms of the Event of Default described in clause (i) of
      Section 7.01(a), the Trustee, upon receipt of written notice on the Distribution
      Date from the Securities Administrator of the continuance of the failure of
      the
      Master Servicer to make an Advance or deposit funds to the Distribution Account,
      shall, by notice in writing to the Master Servicer, which may be delivered
      by
      telecopy, immediately suspend 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 outstanding
      Advances or other amounts for which the Master Servicer was entitled to
      reimbursement as of the date of suspension, and the Trustee, subject to the
      cure
      provided for in this paragraph, if available, shall act as provided in Section
      7.02 to carry out the duties of the Master Servicer, including the obligation
      to
      make any Advance the nonpayment of which is described in clause (i)(A) of
      Section 7.01(a). Any such action taken by the Trustee must be prior to the
      distribution on the relevant Distribution Date, and shall have all of the rights
      incidental thereto. If the Master Servicer shall within two Business Days
      following such suspension remit to the Trustee the amount of any Advance the
      nonpayment of which by the Master Servicer is described in clause (i)(A) of
      Section 7.01(a), together with all other amounts necessary to reimburse the
      Trustee for actual, necessary and reasonable costs incurred by the Trustee
      because of action taken pursuant to this subsection (including interest on
      any
      Advance or other amounts paid by the Trustee (from and including the respective
      dates thereof) at a per annum rate equal to the prime rate for U.S. money center
      commercial banks as published in the Wall Street Journal), then the Trustee,
      subject to the last two sentences of this paragraph, may at its sole discretion
      permit the Master Servicer to resume its rights and obligations as Master
      Servicer hereunder. If
      the
      Master Servicer shall fail to remit such amounts to the Trustee within such
      two
      Business Days after the Distribution Date, then an Event of Default shall occur
      and such notice of suspension shall be deemed to be a notice of termination
      without any further action on the part of the Trustee. The Master Servicer
      agrees that if it fails to make a required Advance by 10:00 A.M. (Chicago time)
      on the related Distribution Date on more than two occasions in any 12 month
      period, the Trustee shall be under no obligation to permit the Master Servicer
      to resume its rights and obligations as Master Servicer hereunder, and
      notwithstanding the cure period provided in Section 7.01(a)(i)(A), an Event
      of
      Default shall be deemed to have occurred on the relevant Distribution Date.
      

     

    
      
        
        

      

      
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    SECTION
      7.02. Trustee to Act.

     

    (a) From
      and
      after the date the Master Servicer (and the Trustee, if notice is sent by the
      Holders) receives a notice of termination pursuant to Section 7.01, the Trustee
      shall be the successor in all respects 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 arising on and after its succession. As compensation therefor, the
      Trustee shall be entitled to such compensation as the Master Servicer would
      have
      been entitled to hereunder if no such notice of termination had been given.
      Notwithstanding the above, (i) if the Trustee is unwilling to act as successor
      Master Servicer or (ii) if the Trustee is legally unable so to act, the Trustee
      shall appoint or petition a court of competent jurisdiction to appoint, any
      established housing and home finance institution, bank or other mortgage loan
      or
      home equity loan servicer having a net worth of not less than $15,000,000 as
      the
      successor to the Master Servicer hereunder in the assumption of all or any part
      of the responsibilities, duties or liabilities of the Master Servicer hereunder;
      provided, that the appointment of any such successor Master Servicer shall
      not
      result in the qualification, reduction or withdrawal of the ratings assigned
      to
      the Certificates by each Rating Agency as evidenced by a letter to such effect
      from each Rating Agency. Pending appointment of a successor to the Master
      Servicer hereunder, unless the Trustee is prohibited by law from so acting,
      the
      Trustee shall act in such capacity as hereinabove provided. In connection with
      such appointment and assumption, the successor shall be entitled to receive
      compensation out of payments on Mortgage Loans in an amount equal to the
      compensation which the Master Servicer would otherwise have received hereunder.
      The appointment of a successor Master Servicer shall not affect any liability
      of
      the predecessor Master Servicer which may have arisen under this Agreement
      prior
      to its termination as Master Servicer to pay any deductible under an insurance
      policy pursuant to Section 3.09 or to indemnify the Trustee pursuant to Section
      3.30), nor shall any successor Master Servicer be liable for any acts or
      omissions of the predecessor Master Servicer or for any breach by such Master
      Servicer of any of its representations or warranties contained herein or in
      any
      related document or agreement. The Trustee and such successor shall take such
      action, consistent with this Agreement, as shall be necessary to effectuate
      any
      such succession. 

     

    
      
        
        

      

      
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    (b) Any
      successor, including the Trustee, to the Master Servicer as Master Servicer
      shall during the term of its service as Master Servicer continue to service
      and
      administer the Mortgage Loans for the benefit of Certificateholders, and
      maintain in force a policy or policies of insurance covering errors and
      omissions in the performance of its obligations as Master Servicer hereunder
      and
      a Fidelity Bond in respect of its officers, employees and agents to the same
      extent as the Master Servicer is so required pursuant to Section
      3.04. 

     

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

     

    SECTION
      7.03. Waiver of Event of Default.

     

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

     

    
      
        
        

      

      
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    SECTION
      7.04. Notification to Certificateholders.

     

    (a) Upon
      any
      termination or appointment of a successor to any Master Servicer pursuant to
      this Article VII or Section 3.30, the Trustee shall give prompt written notice
      thereof to the Securities Administrator and the Certificateholders at their
      respective addresses appearing in the Certificate Register, to each Rating
      Agency and to any NIMS Insurer.

     

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

     

    ARTICLE
      VIII

     

    THE
      TRUSTEE
      AND THE
      SECURITIES ADMINISTRATOR

     

    SECTION
      8.01. Duties of the Trustee and the Securities
      Administrator.

     

    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, and the Securities
      Administrator each undertake to perform such duties and only such duties as
      are
      specifically set forth in this Agreement. If an Event of Default has occurred
      (which has not been cured or waived) of which a Responsible Officer has actual
      knowledge, the Trustee shall exercise such of the rights and powers vested
      in it
      by this Agreement, and use the same degree of care and skill in their exercise,
      as a prudent man would exercise or use under the circumstances in the conduct
      of
      his own affairs, unless the Trustee is acting as successor Master Servicer,
      in
      which case it shall use the same degree of care and skill as the Master Servicer
      hereunder with respect to the exercise of the rights and powers of the Master
      Servicer hereunder.

     

    The
      Trustee and the Securities Administrator, upon receipt of all resolutions,
      certificates, statements, opinions, reports, documents, orders or other
      instruments furnished to the Trustee and the Securities Administrator, which
      are
      specifically required to be furnished pursuant to any provision of this
      Agreement, shall examine them to determine whether they conform to the
      requirements of this Agreement; provided,
      however,
      that
      neither the Trustee nor the Securities Administrator will be responsible for
      the
      accuracy or content of any such resolutions, certificates, statements, opinions,
      reports, documents or other instruments. If any such instrument is found not
      to
      conform to the requirements of this Agreement in a material manner the Trustee
      and the Securities Administrator shall take such action as it deems appropriate
      to have the instrument corrected. If the instrument is not corrected to the
      satisfaction of the Trustee or the Securities Administrator, as applicable,
      the
      Trustee or the Securities Administrator, as applicable, shall provide notice
      thereof to the Certificateholders and any NIMS Insurer and will, at the expense
      of the Trust Fund, which expense shall be reasonable given the scope and nature
      of the required action, take such further action as directed by the
      Certificateholders or any NIMS Insurer.

     

    
      
        
        

      

      
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    On
      each
      Distribution Date, the Securities Administrator, as Paying Agent, shall make
      monthly distributions to the Final Maturity Reserve Account (commencing with
      the
      Distribution Date in September 2016) and the Certificateholders from funds
      in
      the Distribution Account, the Basis Risk Reserve Fund and, on the Final Maturity
      Reserve Termination Date, the Final Maturity Reserve Account, as applicable,
      in
      each case as provided in Sections 5.01, 5.07, 5.09 and 10.01 hereof based on
      the
      report of the Securities Administrator.

     

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

     

    (i) prior
      to
      the occurrence of an Event of Default, and after the curing of all such Events
      of Default which may have occurred, the duties and obligations of the Trustee
      and the Securities Administrator shall be determined solely by the express
      provisions of this Agreement, neither the Trustee nor the Securities
      Administrator shall be liable except for the performance of such of its duties
      and obligations as are specifically set forth in this Agreement, no implied
      covenants or obligations shall be read into this Agreement against the Trustee
      or the Securities Administrator and, in the absence of bad faith on the part
      of
      the Trustee or the Securities Administrator, respectively, the Trustee or the
      Securities Administrator 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 or the Securities
      Administrator, respectively, and conforming to the requirements of this
      Agreement;

     

    (ii) neither
      the Trustee nor the Securities Administrator shall be liable for an error of
      judgment made in good faith by a Responsible Officer of the Trustee or an
      officer of the Securities Administrator, respectively, unless it shall be proved
      that the Trustee or the Securities Administrator, respectively, was negligent
      in
      ascertaining or investigating the facts related thereto;

     

    (iii) neither
      the Trustee nor the Securities Administrator shall be personally liable with
      respect to any action taken, suffered or omitted to be taken by it in good
      faith
      in accordance with the consent or at the direction of any NIMS Insurer or
      Holders of Certificates as provided herein relating to the time, method and
      place of conducting any remedy pursuant to this Agreement, or exercising or
      omitting to exercise any trust or power conferred upon the Trustee or the
      Securities Administrator, respectively, under this Agreement; and

     

    (iv) the
      Trustee shall not be charged with knowledge of any Event of Default or a
      Document Transfer Event or any other event or matter that may require it to
      take
      action or omit to take action hereunder unless a Responsible Officer of the
      Trustee at the Corporate Trust Office receives written notice of such Event
      of
      Default or Document Transfer Event.

     

    Neither
      the Trustee nor the Securities Administrator shall be required to expend or
      risk
      its own funds or otherwise incur financial or other liability in the performance
      of any of its duties hereunder, or in the exercise of any of its rights or
      powers, if there is reasonable ground for believing that the repayment of such
      funds or indemnity satisfactory to it against such risk or liability is not
      assured to it, and none of the provisions contained in this Agreement shall
      in
      any event require the Trustee or the Securities Administrator to perform, or
      be
      responsible for the manner of performance of, any of the obligations of the
      Master Servicer under this Agreement, except during such time, if any, as the
      Trustee shall be the successor to, and be vested with the rights, duties, powers
      and privileges of, the Master Servicer in accordance with the terms of this
      Agreement.

     

    
      
        
        

      

      
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    SECTION
      8.02. Certain Matters Affecting the Trustee and the Securities
      Administrator.

     

    Except
      as
      otherwise provided in Section 8.01 hereof:

     

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

     

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

     

    (iii) neither
      the Trustee nor the Securities Administrator shall be under any obligation
      to
      exercise any of the rights or powers vested in it by this Agreement, or to
      institute, conduct or defend any litigation hereunder or in relation hereto,
      at
      the request, order or direction of any of the Certificateholders or any NIMS
      Insurer pursuant to the provisions of this Agreement, unless such
      Certificateholders or any NIMS Insurer shall have offered to the Trustee or
      the
      Securities Administrator, respectively, reasonable security or indemnity
      satisfactory to it against the costs, expenses and liabilities which may be
      incurred therein or thereby; the right of the Trustee to perform any
      discretionary act enumerated in this Agreement shall not be construed as a
      duty,
      and the Trustee shall not be answerable for other than its negligence or willful
      misconduct in the performance of any such act;

     

    (iv) neither
      the Trustee nor the Securities Administrator shall be personally liable for
      any
      action taken, suffered or omitted by it in good faith and believed by it to
      be
      authorized or within the discretion or rights or powers conferred upon it by
      this Agreement;

     

    (v) neither
      the Securities Administrator nor, prior to the occurrence of an Event of Default
      and after the curing or waiver of all Events of Default which may have occurred,
      the Trustee shall be bound to make any investigation into the facts or matters
      stated in any resolution, certificate, statement, instrument, opinion, report,
      notice, request, consent, order, approval, bond or other paper or documents,
      unless requested in writing to do so by any NIMS Insurer or the Majority
      Certificateholder; provided,
      however,
      that if
      the payment within a reasonable time to the Trustee or the Securities
      Administrator 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 or the
      Securities Administrator, as applicable, not reasonably assured to the Trustee
      or the Securities Administrator by the security afforded to it by the terms
      of
      this Agreement, the Trustee or the Securities Administrator, as applicable,
      may
      require reasonable indemnity against such cost, expense, liability or payment
      of
      such estimated expenses from any NIMS Insurer or the Certificateholders, as
      applicable, as a condition to such proceeding. If the Master Servicer fails
      to
      reimburse the Trustee or the Securities Administrator in respect of the
      reasonable expense of every such examination relating to the Master Servicer,
      the Trustee or the Securities Administrator shall be reimbursed by the Trust
      Fund;

     

    
      
        
        

      

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

     

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

     

    (viii) the
      right
      of the Trustee or the Securities Administrator to perform any discretionary
      act
      enumerated in this Agreement shall not be construed as a duty, and neither
      the
      Trustee nor the Securities Administrator shall be answerable for other than
      its
      negligence or willful misconduct in the performance of such act;
      and

     

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

     

    
      
        
        

      

      
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    SECTION
      8.03. Trustee and the Securities Administrator Not Liable for Certificates or
      Mortgage Loans.

     

    The
      recitals contained herein and in the Certificates (other than the authentication
      of the Securities Administrator on the Certificates) shall be taken as the
      statements of the Depositor or the Seller, and neither the Trustee nor the
      Securities Administrator assumes responsibility for the correctness of the
      same.
      Neither the Trustee nor the Securities Administrator makes representations
      or
      warranties as to the validity or sufficiency of this Agreement or of the
      Certificates (other than with respect to the Securities Administrator the
      signature and authentication of the Securities Administrator on the
      Certificates) or of any Mortgage Loan or related document or of MERS or the
      MERS
      System. The Trustee shall not be accountable for the use or application by
      the
      Master Servicer or the Securities Administrator, or for the use or application
      of any funds paid to the Master Servicer in respect of related Mortgage Loans
      or
      deposited in or withdrawn from the Distribution Account by the Master Servicer
      or the Securities Administrator. Neither the Trustee nor the Securities
      Administrator shall at any time have any responsibility or liability for or
      with
      respect to the legality, validity and enforceability of any Mortgage or any
      Mortgage Loan, or the perfection and priority of any Mortgage or the maintenance
      of any such perfection and priority, or for or with respect to the sufficiency
      of the Trust Fund or its ability to generate the payments to be distributed
      to
      Certificateholders under this Agreement, including, without limitation: the
      existence, condition and ownership of any Mortgaged Property; the existence
      and
      enforceability of any hazard insurance thereon (other than if the Trustee shall
      assume the duties of the Master Servicer pursuant to Section 7.02 hereof);
      the
      validity of the assignment of any Mortgage Loan to the Trustee or of any
      intervening assignment; the completeness of any Mortgage Loan; the performance
      or enforcement of any Mortgage Loan (other than if the Trustee shall assume
      the
      duties of the Master Servicer pursuant to Section 7.02 hereof); the compliance
      by the Depositor or the Seller with any warranty or representation made under
      this Agreement or in any related document or the accuracy of any such warranty
      or representation prior to the Trustee’s receipt of notice or other discovery of
      any non-compliance therewith or any breach thereof; any investment of monies
      by
      or at the direction of the Master Servicer or any loss resulting therefrom,
      it
      being understood that the Trustee shall remain responsible for any Trust Fund
      property that it may hold in its individual capacity and the Securities
      Administrator shall remain responsible for any Trust Fund property that it
      may
      hold in its individual capacity; the acts or omissions of the Master Servicer
      (other than as to the Securities Administrator, if it is also the Master
      Servicer, and as to the Trustee, if the Trustee shall assume the duties of
      the
      Master Servicer pursuant to Section 7.02 hereof, and then only for the acts
      or
      omissions of the Trustee as the successor Master Servicer), or any acts or
      omissions of, the Servicer or any Mortgagor; any action of the Master Servicer
      (other than as to the Securities Administrator, if it is the Master Servicer,
      and as to the Trustee, if the Trustee shall assume the duties of the Master
      Servicer pursuant to Section 7.02 hereof), or in the case of the Trustee the
      Securities Administrator or the Servicer taken in the name of the Trustee;
      the
      failure of the Master Servicer or the Servicer to act or perform any duties
      required of it as agent or on behalf of the Trustee or the Trust Fund hereunder;
      or any action by the Trustee taken at the instruction of the Master Servicer
      (other than if the Trustee shall assume the duties of the Master Servicer
      pursuant to Section 7.02 hereof, and then only for the actions of the Trustee
      as
      the successor Master Servicer); provided,
      however,
      that
      the foregoing shall not relieve the Trustee of its obligation to perform its
      duties under this Agreement, including, without limitation, the Trustee’s duty
      to review the Mortgage Files, if so required pursuant to Section 2.01 of this
      Agreement.

     

    SECTION
      8.04. Trustee, Custodians, Master Servicer and Securities Administrator May
      Own Certificates.

     

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

     

    
      
        
        

      

      
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    SECTION
      8.05. Trustee’s and Securities Administrator’s Fees and
      Expenses.

     

    The
      Trustee (including in its capacity as a Custodian) shall be compensated by
      the
      Master Servicer for its services hereunder on behalf of the Trust Fund in the
      amount agreed upon by the Master Servicer and the Trustee. The Trustee Fee
      shall
      paid from a portion of the Master Servicing Fee. The Securities Administrator
      shall be compensated by the Master Servicer for its services hereunder from
      a
      portion of the Master Servicing Fee. In addition, the Trustee and the Securities
      Administrator will be entitled to recover from the Distribution Account pursuant
      to Section 4.03(a) all reasonable out-of-pocket expenses, disbursements and
      advances and the expenses of the Trustee (including for such purpose, any fees
      and expenses relating to its capacity as a Custodian hereunder) and the
      Securities Administrator, respectively, including without limitation, in
      connection with any filing that the Securities Administrator is required to
      make
      under Section 3.19 hereof, any Event of Default, any breach of this Agreement
      or
      any claim or legal action (including any pending or threatened claim or legal
      action) incurred or made by the Trustee or the Securities Administrator,
      respectively, in the performance of its duties or the administration of the
      trusts hereunder, except any such expense, disbursement or advance as may arise
      from its negligence or intentional misconduct or which is specifically
      designated herein as the responsibility of the Depositor, the Seller, the Master
      Servicer, the Certificateholders or the Trust Fund hereunder or thereunder.
      If
      funds in the Distribution Account are insufficient therefor, the Trustee, the
      Custodians and the Securities Administrator shall recover such expenses from
      future collections on the Mortgage Loans or as otherwise agreed by the
      Certificateholders. Such compensation and reimbursement obligation shall not
      be
      limited by any provision of law in regard to the compensation of a trustee
      of an
      express trust.

     

    SECTION
      8.06. Eligibility Requirements for Trustee and Securities
      Administrator.

     

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

     

    
      
        
        

      

      
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    SECTION
      8.07. Resignation or Removal of Trustee and Securities
      Administrator.

     

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

     

    If
      at any
      time the Trustee or the Securities Administrator shall cease to be eligible
      in
      accordance with the provisions of Section 8.06 hereof and shall fail to resign
      after written request therefor by the Depositor or any NIMS Insurer or if at
      any
      time the Trustee or the Securities Administrator shall be legally unable to
      act,
      or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee
      or
      the Securities Administrator, as applicable, or of its property shall be
      appointed, or any public officer shall take charge or control of the Trustee
      or
      the Securities Administrator, as applicable, or of its property or affairs
      for
      the purpose of rehabilitation, conservation or liquidation, or if the Trustee
      (in its capacity as a Custodian) or the Securities Administrator fails to
      provide an assessment of compliance or an attestation report required under
      Section 3.16 within 15 calendar days of March 1 of each calendar year in which
      Exchange Act reports are required then the Depositor or any NIMS Insurer may
      remove the Trustee or the Trustee may remove the Securities Administrator,
      as
      applicable. If the Depositor or the Trustee removes the Trustee or the
      Securities Administrator, respectively under the authority of the immediately
      preceding sentence, the Depositor or the Trustee shall promptly appoint a
      successor Trustee or successor Securities Administrator, in each case,
      reasonably acceptable to the NIMS Insurer, that meets the requirements of
      Section 8.06, as applicable, by written instrument, in quadruplicate, one copy
      of which instrument shall be delivered to the Trustee or the Securities
      Administrator, as applicable, so removed, one copy to the successor Trustee
      or
      successor Securities Administrator, as applicable, one copy to the Master
      Servicer and one copy to the NIMS Insurer.

     

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

     

    
      
        
        

      

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

     

    Notwithstanding
      anything to the contrary contained herein, in the event that the Master Servicer
      resigns or is removed as Master Servicer hereunder, the Securities Administrator
      shall have the right to resign immediately as Securities Administrator by giving
      written notice to the Depositor and the Trustee, with a copy to each Rating
      Agency.

     

    SECTION
      8.08. Successor Trustee and Successor Securities
      Administrator.

     

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

     

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

     

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

     

    
      
        
        

      

      
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    SECTION
      8.09. Merger or Consolidation of Trustee or Securities
      Administrator.

     

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

     

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

     

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

     

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

     

    (i) all
      rights, powers, duties and obligations conferred or imposed upon the Trustee
      shall be conferred or imposed upon and exercised or performed by the Trustee
      and
      such separate trustee or co-trustee jointly (it being understood that such
      separate trustee or co-trustee is not authorized to act separately without
      the
      Trustee joining in such act), except to the extent that under any law of any
      jurisdiction in which any particular act or acts are to be performed (whether
      as
      Trustee hereunder or as successor to the 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
      Depositor and the Trustee, acting jointly may at any time accept the resignation
      of or remove any separate trustee or co-trustee.

     

    
      
        
        

      

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

     

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

     

    SECTION
      8.11. Limitation of Liability.

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    (c) The
      Securities Administrator shall afford the Seller, the Depositor, the Trustee
      and
      each Certificateholder upon reasonable notice during normal business hours
      at
      its offices at 9062 Old Annapolis Road, Columbia, Maryland 21045 or other office
      designated by the Securities Administrator, access to all records maintained
      by
      the Securities Administrator in respect of its duties hereunder and access
      to
      officers of the Securities Administrator responsible for performing such duties.
      The Securities Administrator shall cooperate fully with the Seller, the
      Depositor, the Trustee and such Certificateholder and shall, subject to the
      first sentence of this Section 8.12(c), make available to the Seller, the
      Depositor and such Certificateholder for review and copying such books,
      documents or records as may be reasonably requested with respect to the
      Securities Administrator’s duties hereunder. The Seller, the Depositor, the
      Trustee and the Certificateholders shall not have any responsibility or
      liability for any action or failure to act by the Securities Administrator
      and
      are not obligated to supervise the performance of the Securities Administrator
      under this Agreement or otherwise.

     

    SECTION
      8.13. Suits for Enforcement.

     

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

     

    SECTION
      8.14. Waiver of Bond Requirement.

     

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

     

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

     

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

     

    
      
        
        

      

      
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    SECTION
      8.16. Appointment of Custodians.

     

    The
      Trustee may appoint one or more custodians to hold all or a portion of the
      related Mortgage Files as agent for the Trustee, by entering into a custodial
      agreement. The custodian may at any time be terminated and a substitute
      custodian appointed therefor by the Trustee. Subject to this Article VIII,
      the
      Trustee agrees to comply with the terms of each custodial agreement and to
      enforce the terms and provisions thereof against the custodian for the benefit
      of the Certificateholders having an interest in any Mortgage File held by such
      custodian. Each custodian shall be a depository institution or trust company
      subject to supervision by federal or state authority, shall have combined
      capital and surplus of at least $15,000,000 and shall be qualified to do
      business in the jurisdiction in which it holds any Mortgage File. The Seller
      shall pay from its own funds, without any right to reimbursement, the fees,
      costs and expenses of each custodian (including the costs of custodian’s
      counsel).

     

    ARTICLE
      IX

     

    REMIC
      ADMINISTRATION

     

    SECTION
      9.01. REMIC Administration.

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    (e) The
      Securities Administrator shall perform on behalf of each REMIC created hereunder
      all reporting and other tax compliance duties that are the responsibility of
      each such REMIC under the Code, the REMIC Provisions or other compliance
      guidance issued by the Internal Revenue Service or any state or local taxing
      authority. Among its other duties, if required by the Code, the REMIC Provisions
      or other such guidance, the Securities Administrator, shall provide (i) to
      the
      Treasury or other governmental authority such information as is necessary for
      the application of any tax relating to the transfer of a Residual Certificate
      to
      any disqualified organization and (ii) to the Certificateholders such
      information or reports as are required by the Code or REMIC
      Provisions.
      The
      Securities Administrator, however, shall have no information or other tax
      reporting obligations with respect to the Final Maturity Reserve
      Trust.

     

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

     

    
      
        
        

      

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

     

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

     

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

     

    (j) None
      of
      the Trustee, the Master Servicer or the Securities Administrator shall enter
      into any arrangement by which any REMIC created hereunder will receive a fee
      or
      other compensation for services.

     

    (k) The
      Securities Administrator shall treat the Basis Risk Reserve Fund as an outside
      reserve fund within the meaning of Treasury Regulation Section 1.860G-2(h),
      and
      not as assets of any REMIC. The Holders of the Class C Certificates are the
      owners of the Basis Risk Reserve Fund. The Securities Administrator shall treat
      the rights of the Holders of the LIBOR Certificates to receive distributions
      to
      cover Basis Risk Shortfalls as payments under a cap contract written by the
      Holders of the Class C Certificates in favor of the related Holders of the
      LIBOR
      Certificates. Thus, the LIBOR Certificates shall be treated as representing
      not
      only ownership of regular interests in a REMIC, but also ownership of an
      interest in an interest rate cap contract. For purposes of determining the
      issue
      prices of the Certificates, the interest rate cap contracts shall be assumed
      to
      have a zero value unless and until required otherwise by an applicable taxing
      authority.

     

    (l) The
      Securities Administrator shall treat the Final Maturity Reserve Trust as an
      outside reserve fund within the meaning of Treasury Regulation Section
      1.860G-2(h) owned by the holders of the Class C Certificates and not assets
      of
      any REMIC. The Class C Certificateholder shall be treated as the owner of the
      Final Maturity Reserve Trust and any payments made from the Final Maturity
      Reserve Trust to beneficial owners of Certificates (other than the Class C
      Certificates) shall be treated for federal income tax purposes as payments
      made
      by the Class C Certificateholder in exchange for an interest in the Certificates
      then owned by such beneficial owners.

     

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

     

    
      
        
        

      

      
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    SECTION
      9.02. Prohibited Transactions and Activities.

     

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

     

    ARTICLE
      X

     

    TERMINATION

     

    SECTION
      10.01. Termination.

     

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

     

    
      
        
        

      

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

     

    If
      the
      Master Servicer does not exercise its option as described above, then the NIMS
      Insurer shall have the right to exercise such option and (i) the NIMS Insurer
      shall remit the Termination Price in immediately available funds to the Master
      Servicer at least three Business Days prior to the applicable Distribution
      Date
      and, upon receipt of such funds from the NIMS Insurer, the Master Servicer
      shall
      promptly deposit such funds in the Distribution Account and (ii) upon the
      termination of the Trust Fund, the Trustee will transfer the property of the
      Trust Fund to the NIMS Insurer. The NIMS Insurer shall be obligated to reimburse
      the Master Servicer for its reasonable out-of-pocket expenses incurred in
      connection with its termination of the Trust Fund by the NIMS Insurer and shall
      indemnify and hold harmless the Master Servicer for all losses, liabilities
      or
      expenses resulting from any claims directly resulting from or relating to the
      termination of the Trust Fund by the NIMS Insurer, except to the extent such
      losses, liabilities or expenses arise out of or result from the Master
      Servicer’s negligence, bad faith or willful misconduct. 

     

    
      
        
        

      

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

     

    Notwithstanding
      anything provided herein to the contrary, upon the exercise of the Call Option,
      the Servicing Rights Owner shall retain any and all related Servicing Rights
      with respect to any SRO Mortgage Loans.

     

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

     

    (c) Upon
      presentation and surrender of the Certificates, the Securities Administrator,
      as
      Paying Agent, shall cause to be distributed to the Holders of the Certificates
      on the Distribution Date for such final distribution, in proportion to the
      Percentage Interests of their respective Class and to the extent that funds
      are
      available for such purpose, an amount equal to the amount required to be
      distributed to such Holders in accordance with the provisions of
      Section 5.01 hereof for such Distribution Date; provided,
      however,
      that
      with respect to amounts that would otherwise be distributed to the Class R
      Certificates (i) with respect to the Group 1 Mortgage Loans on the final
      Distribution Date, such amounts, if any, shall be distributed to the Class
      2A-1A-1 and Class 2A-1B Certificates, pro
      rata
      up to
      the amount by which the aggregate Class Principal Balance of the classes of
      Senior Certificates related to Loan Group 2 on such date is greater than the
      Loan Group Balance of the related Group 2 Mortgage Loans for such Distribution
      Date and (ii) with respect to the Group 2 Mortgage Loans on the final
      Distribution Date, such amounts, if any, shall be distributed to the Class
      1A-1
      Certificates up to the amount by which the aggregate Class Principal Balance
      of
      the classes of Senior Certificates related to Loan Group 1 on such date is
      greater than the Loan Group Balance of the related Group 1 Mortgage Loans for
      such Distribution Date.

     

    
      
        
        

      

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

     

    SECTION
      10.02. Additional Termination Requirements.

     

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

     

    (i) The
      Trustee at the direction of the Securities Administrator shall sell any
      remaining assets of the Trust Fund to Wells Fargo Bank, N.A. or its designee,
      for cash and, within 90 days of such sale, shall distribute to (or credit to
      the
      account of) the Certificateholders the proceeds of such sale together with
      any
      cash on hand (less amounts retained to meet claims) in complete liquidation
      of
      the Trust Fund, and each REMIC created hereunder; and

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
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    ARTICLE
      XI

     

    DISPOSITION
      OF TRUST FUND ASSETS

     

    SECTION
      11.01. Disposition of Trust Fund Assets.

     

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

     

    ARTICLE
      XII

     

    MISCELLANEOUS
      PROVISIONS

     

    SECTION
      12.01. Amendment.

     

    This
      Agreement may be amended from time to time by the Seller, the Depositor, the
      Master Servicer, the Securities Administrator, the Credit Risk Manager and
      the
      Trustee (with the consent of any NIMS Insurer) without the consent of the
      Certificateholders, (i) to cure any ambiguity, (ii) to correct or
      supplement any provisions herein which may be defective or inconsistent with
      any
      other provisions herein, (iii) to make any other provisions with respect to
      matters or questions arising under this Agreement, which shall not be
      inconsistent with the provisions of this Agreement, or (iv) to conform the
      terms
      hereof to the description thereof provided in the Prospectus; provided,
      however,
      that
      any such action listed in clause (i) through (iii) above shall not
      adversely affect in any material respect the interests of any Certificateholder;
      provided,
      further,
      that
      any such action listed in (i) through (iii) above shall be deemed not to
      adversely affect in any material respect the interests of any Certificateholder,
      if evidenced by (i) written notice to the Depositor, the Seller, the Master
      Servicer, the Securities Administrator, the Credit Risk Manager, any NIMS
      Insurer and the Trustee from the Rating Agency that such action will not result
      in the reduction or withdrawal of the rating of any outstanding Class of
      Certificates with respect to which it is a Rating Agency or (ii) an Opinion
      of Counsel to the effect that such amendment shall not adversely affect in
      any
      material respect the interests of any Certificateholder, is permitted by the
      Agreement and all the conditions precedent, if any, have been complied with,
      delivered to the Trustee, the Securities Administrator, the Master Servicer
      and
      any NIMS Insurer.

     

    In
      addition, this Agreement may be amended from time to time by Seller, the
      Depositor, the Master Servicer, the Securities Administrator, the Credit Risk
      Manager and the Trustee with the consent of any NIMS Insurer and the Majority
      Certificateholders 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,
      however,
      that no
      such amendment or waiver shall (x) reduce in any manner the amount of, or
      delay the timing of, payments on the Certificates that are required to be made
      on any Certificate without the consent of the Holder of such Certificate,
      (y) adversely affect in any material respect the interests of the Holders
      of any Class of Certificates in a manner other than as described in clause
      (x)
      above, without the consent of the Holders of Certificates of such Class
      evidencing at least a 662/3%
      Percentage Interest in such Class, or (z) reduce the percentage of Voting
      Rights required by clause (y) above without the consent of the Holders of
      all Certificates of such Class then outstanding. Upon approval of an amendment,
      a copy of such amendment shall be sent to the Rating Agency.

     

    
      
        
        

      

      
        145

        
          

        

      

      
        
        

      

    

     

    Notwithstanding
      any provision of this Agreement to the contrary, each of the Trustee and the
      NIMS Insurer shall not consent to any amendment to this Agreement unless they
      shall have first received an Opinion of Counsel, delivered by and at the expense
      of the Person seeking such Amendment (unless such Person is the Trustee, in
      which case the Trustee shall be entitled to be reimbursed for such expenses
      by
      the Trust Fund pursuant to Section 8.05 hereof), to the effect that such
      amendment will not result in the imposition of a tax on any REMIC created
      hereunder pursuant to the REMIC Provisions or cause any REMIC created hereunder
      to fail to qualify as a REMIC at any time that any Certificates are outstanding
      and that the amendment is being made in accordance with the terms hereof, such
      amendment is permitted by this Agreement and all conditions precedent, if any,
      have been complied with.

     

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

     

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

     

    The
      Trustee, the Master Servicer and Securities Administrator may, but shall not
      be
      obligated to, enter into any amendment pursuant to this 12.01 Section that
      affects its rights, duties and immunities under this Agreement or
      otherwise.

     

    SECTION
      12.02. Recordation of Agreement; Counterparts.

     

    To
      the
      extent permitted by applicable law, this Agreement is subject to recordation
      in
      all appropriate public offices for real property records in all the counties
      or
      other comparable jurisdictions in which any or all of the Mortgaged Properties
      are situated, and in any other appropriate public recording office or elsewhere,
      such recordation to be effected by the Trustee at the expense of the Trust
      Fund,
      but only upon direction of Certificateholders accompanied by an Opinion of
      Counsel to the effect that such recordation materially and beneficially affects
      the interests of the Certificateholders.

     

    
      
        
        

      

      
        146

        
          

        

      

      
        
        

      

    

     

    For
      the
      purpose of facilitating the recordation of this Agreement as herein provided
      and
      for other purposes, this Agreement may be executed simultaneously in any number
      of counterparts, each of which counterparts shall be deemed to be an original,
      and such counterparts shall together constitute but one and the same
      instrument.

     

    SECTION
      12.03. Limitation on Rights of Certificateholders.

     

    The
      death
      or incapacity of any Certificateholder shall not (i) operate to terminate
      this Agreement or the Trust Fund, (ii) entitle such Certificateholder’s
      legal representatives or heirs to claim an accounting or to take any action
      or
      proceeding in any court for a partition or winding up of the Trust Fund or
      (iii) otherwise affect the rights, obligations and liabilities of the
      parties hereto or any of them.

     

    Except
      as
      expressly provided for herein, no Certificateholder shall have any right to
      vote
      or in any manner otherwise control the operation and management of the Trust
      Fund, or the obligations of the parties hereto, nor shall anything herein set
      forth or contained in the terms of the Certificates be construed so as to
      constitute the Certificateholders from time to time as partners or members
      of an
      association; nor shall any Certificateholder be under any liability to any
      third
      person by reason of any action taken by the parties to this Agreement pursuant
      to any provision hereof.

     

    No
      Certificateholder shall have any right by virtue of any provision of this
      Agreement to institute any suit, action or proceeding in equity or at law upon
      or under or with respect to this Agreement, unless such Holder previously shall
      have given to the Trustee a written notice of default and of the continuance
      thereof, as hereinbefore provided, and unless also the Holders of Certificates
      entitled to at least 25% of the Voting Rights shall, with the prior written
      consent of any NIMS Insurer, have made written request upon the Trustee to
      institute such action, suit or proceeding in its own name as Trustee hereunder
      and shall have offered to the Trustee such reasonable indemnity as it may
      require against the costs, expenses and liabilities to be incurred therein
      or
      thereby, and the Trustee for 15 days after its receipt of such notice,
      request and offer of indemnity, shall have neglected or refused to institute
      any
      such action, suit or proceeding and no direction inconsistent with such written
      request has been given the Trustee by such Certificateholder or any NIMS
      Insurer. It is understood and intended, and expressly covenanted by each
      Certificateholder with every other Certificateholder, any NIMS Insurer, the
      Securities Administrator and the Trustee, that no one or more Holders of
      Certificates shall have any right in any manner whatever by virtue of any
      provision of this Agreement to affect, disturb or prejudice the rights of the
      Holders of any other of such Certificates or the rights of any NIMS Insurer,
      or
      to obtain or seek to obtain priority over or preference to any other such Holder
      or any NIMS Insurer, which priority or preference is not otherwise provided
      for
      herein, or to enforce any right under this Agreement, except in the manner
      herein provided and for the equal, ratable and common benefit of all
      Certificateholders. For the protection and enforcement of the provisions of
      this
      Section 12.03, each and every Certificateholder, the NIMS Insurer and the
      Trustee shall be entitled to such relief as can be given either at law or in
      equity.

     

    
      
        
        

      

      
        147

        
          

        

      

      
        
        

      

    

     

    SECTION
      12.04. Governing Law; Jurisdiction.

     

    THIS
      AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
      THE
      STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER
      THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS
      AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
      SUCH LAWS.

     

    SECTION
      12.05. Notices.

     

    All
      directions, demands and notices hereunder shall be in writing and shall be
      deemed to have been duly given if personally delivered at or mailed by first
      class mail, postage prepaid, or by express delivery service, to (a) in the
      case of the Seller, to Greenwich Capital Financial Products, Inc.,
      600 Steamboat Road, Greenwich, Connecticut 06830, Attention: General
      Counsel (telecopy number (203) 618-2132), or such other address or telecopy
      number as may hereafter be furnished to the Depositor, the Master Servicer,
      the
      Securities Administrator and the Trustee in writing by the Seller, (b) in the
      case of the Trustee, to the Corporate Trust Office or such other address or
      telecopy number as may hereafter be furnished to the Depositor, the Master
      Servicer, the Securities Administrator and the Seller in writing by the Trustee,
      (c) in the case of the Depositor, to Greenwich Capital
      Acceptance, Inc., 600 Steamboat Road, Greenwich, Connecticut 06830,
      Attention: Legal (telecopy number (203) 618-2132),
      or
      such other address or telecopy number as may be furnished to the Seller, the
      Master Servicer, the Securities Administrator and the Trustee in writing by
      the
      Depositor; (d) in the case of the Master Servicer or Securities Administrator,
      for certificate transfer purposes, at its Corporate Trust Office and for all
      other purposes at P.O. Box 98, Columbia, Maryland 21046, or for overnight
      delivery, at 9062 Old Annapolis Road, Columbia, Maryland 21045 (Attention:
      HarborView Mortgage Loan Trust 2006-8), Facsimile no.: (410) 715-2380, or such
      other address or telecopy number as may be furnished to the Depositor, the
      Seller and the Trustee in writing by the Master Servicer or the Securities
      Administrator, as applicable; and (e) in the case of the Credit Risk Manager,
      Clayton Fixed Income Services Inc., 1700 Lincoln Street, Suite 1600, Denver,
      Colorado 80203, Attention: General Counsel. Any notice required or permitted
      to
      be mailed to a Certificateholder shall be given by first class mail, postage
      prepaid, at the address of such Holder as shown in the Certificate Register.
      Notice of any Event of Default shall be given by telecopy and by certified
      mail.
      Any notice so mailed within the time prescribed in this Agreement shall be
      conclusively presumed to have duly been given when mailed, whether or not the
      Certificateholder receives such notice. A copy of any notice required to be
      telecopied hereunder shall also be mailed to the appropriate party in the manner
      set forth above. Any notice required to be delivered by the Securities
      Administrator to the Depositor pursuant to Section 3.19 may be delivered by
      the
      Securities Administrator, notwithstanding any provision of this Agreement to
      the
      contrary, to Greenwich Capital Acceptance, Inc., 600 Steamboat Road,
      Greenwich, Connecticut 06830, Attention: Mark Hagelin (telephone number (203)
      618-2596; fax number (203) 422-4284; e-mail mark.hagelin@gcm.com), or such
      other
      address or telecopy number as may be furnished to the Securities Administrator
      in writing by the Depositor.

     

    
      
        
        

      

      
        148

        
          

        

      

      
        
        

      

    

     

    SECTION
      12.06. Severability of Provisions.

     

    If
      any
      one or more of the covenants, agreements, provisions or terms of this Agreement
      shall for any reason whatsoever be held invalid, then such covenants,
      agreements, provisions or terms shall be deemed severable from the remaining
      covenants, agreements, provisions or terms of this Agreement and shall in no
      way
      affect the validity or enforceability of the other provisions of this Agreement
      or of the Certificates or the rights of the Holders thereof.

     

    SECTION
      12.07. Article and Section References.

     

    All
      article and section references used in this Agreement, unless otherwise
      provided, are to articles and sections in this Agreement.

     

    SECTION
      12.08. Notice to the Rating Agencies.

     

    (a) The
      Trustee shall be obligated to use its best reasonable efforts promptly to
      provide notice to the Rating Agencies and any NIMS Insurer with respect to
      each
      of the following of which a Responsible Officer of the Trustee has actual
      knowledge:

     

    (i) any
      material change or amendment to this Agreement;

     

    (ii) the
      occurrence of any Event of Default that has not been cured or
      waived;

     

    (iii) the
      resignation or termination of the Master Servicer, the Securities Administrator
      or the Trustee;

     

    (iv) the
      final
      payment to Holders of the Certificates of any Class; and

     

    (v) any
      change in the location of any Account.

     

    (b) If
      the
      Trustee is acting as a successor Master Servicer pursuant to Section 7.02
      hereof, the Trustee shall notify the Rating Agencies of any event that would
      result in the inability of the Trustee to make Advances as successor Master
      Servicer:

     

    (c) The
      Master Servicer shall promptly furnish to each Rating Agency copies of the
      following, unless such documents were made available on the Securities
      Administrator’s website:

     

    (i) each
      annual statement as to compliance described in Section 3.17 hereof;

     

    (ii) each
      annual assessment of compliance and attestation report described in Section
      3.16
      hereof; and

     

    (iii) each
      notice delivered pursuant to Section 5.05(b) hereof which relates to the fact
      that the Master Servicer has not made an Advance.

     

    
      
        
        

      

      
        149

        
          

        

      

      
        
        

      

    

     

    (d) All
      notices to the Rating Agencies provided for in this Agreement shall be in
      writing and sent by first class mail, telecopy or overnight courier, as
      follows:

     

    If
      to
      Moody’s, to:

    

    Moody’s
      Investors Service, Inc.

    99
      Church
      Street 

    New
      York,
      New York 10007

    Attention:
      Residential Mortgages

    

    If
      to
      S&P, to:

    

    Standard
      & Poor’s Ratings Services,

    a
      division of The McGraw-Hill Companies, Inc.

    55
      Water
      Street

    New
      York,
      New York 10041

    Facsimile
      number: (212) 438-2661

     

    SECTION
      12.09. Further Assurances.

     

    Notwithstanding
      any other provision of this Agreement, neither the Regular Certificateholders
      nor the Trustee shall have any obligation to consent to any amendment or
      modification of this Agreement unless they have been provided reasonable
      security or indemnity against their out-of-pocket expenses (including reasonable
      attorneys’ fees) to be incurred in connection therewith.

     

    SECTION
      12.10. Benefits of Agreement.

     

    Nothing
      in this Agreement or in the Certificates, expressed or implied, shall give
      to
      any Person, other than the Certificateholders and the parties hereto and their
      successors hereunder, any benefit or any legal or equitable right, remedy or
      claim under this Agreement.

     

    The
      Depositor shall promptly notify the Custodians, the Securities Administrator
      and
      the Trustee in writing of the issuance of any Class of NIMS Securities and
      the
      identity of any related NIMS Insurer. Thereafter, the NIMS Insurer shall be
      deemed a third-party beneficiary of this Agreement to the same extent as if
      it
      were a party hereto, and shall be subject to and have the right to enforce
      the
      provisions of this Agreement so long as the NIMS Securities remaining
      outstanding or the NIMS Insurer is owed amounts in respect of its guarantee
      of
      payment of such NIMS Securities. Nothing in this Agreement or in the
      Certificates, express or implied, shall give to any Person, other than the
      parties to this Agreement and their successors hereunder, the Holders of the
      Certificates and the NIMS Insurer, any benefit or any legal or equitable right,
      power, remedy or claim under this Agreement.

     

    
      
        
        

      

      
        150

        
          

        

      

      
        
        

      

    

     

    SECTION
      12.11. Acts of Certificateholders.

     

    (a) Any
      request, demand, authorization, direction, notice, consent, waiver or other
      action provided by this Agreement to be given or taken by the Certificateholders
      may be embodied in and evidenced by one or more instruments of substantially
      similar tenor signed by such Certificateholders in person or by agent duly
      appointed in writing, and such action shall become effective when such
      instrument or instruments are delivered to the Trustee or the Securities
      Administrator and, when expressly required under this Agreement, to the Master
      Servicer. Such instrument or instruments (and the action embodied therein and
      evidenced thereby) are herein sometimes referred to as the “act” of the
      Certificateholders signing such instrument or instruments. Proof of execution
      of
      any such instrument or of a writing appointing any such agent shall be
      sufficient for any purpose of this Agreement and conclusive in favor of the
      Trustee and the Trust Fund, if made in the manner provided in this
      Section 12.11.

     

    (b) The
      fact
      and date of the execution by any Person of any such instrument or writing may
      be
      proved by the affidavit of a witness of such execution or by the certificate
      of
      a notary public or other officer authorized by law to take acknowledgments
      of
      deeds, certifying that the individual signing such instrument or writing
      acknowledged to him the execution thereof. Whenever such execution is by a
      signer acting in a capacity other than his or her individual capacity, such
      certificate or affidavit shall also constitute sufficient proof of his
      authority.

     

    (c) Any
      request, demand, authorization, direction, notice, consent, waiver or other
      action by any Certificateholder shall bind every future Holder of such
      Certificate and the Holder of every Certificate issued upon the registration
      of
      transfer thereof or in exchange therefor or in lieu thereof, in respect of
      anything done, omitted or suffered to be done by the Trustee or the Trust Fund
      in reliance thereon, whether or not notation of such action is made upon such
      Certificate.

     

    SECTION
      12.12. Successors and Assigns.

     

    The
      provisions of this Agreement shall be binding upon and inure to the benefit
      of
      the respective successors and assigns of the parties hereto.

     

    SECTION
      12.13. Provision of Information.

     

    For
      so
      long as any of the Certificates of any Class are “restricted securities” within
      the meaning of Rule 144(a)(3) under the Securities Act, the Depositor agrees
      to
      provide to any Certificateholders, any NIM Security Holder and to any
      prospective purchaser of Certificates designated by such holder, upon the
      request of such holder or prospective purchaser, any information required to
      be
      provided to such holder or prospective purchaser to satisfy the condition set
      forth in Rule 144A(d)(4) under the Securities Act. 

     

    The
      Securities Administrator shall provide to any person to whom a Prospectus was
      delivered by Greenwich Capital Markets, Inc. (as identified by Greenwich Capital
      Markets, Inc.), upon the request of such person specifying the document or
      documents requested (and certifying that it is a Person entitled hereunder),
      (i)
      a copy (excluding exhibits) of any report on Form 8-K, Form 10-D or Form 10-K
      filed with the Securities and Exchange Commission pursuant to this Agreement
      and
      (ii) a copy of any other document incorporated by reference in the Prospectus
      (to the extent in the Securities Administrator’s possession). Any reasonable
      out-of-pocket expenses incurred by the Securities Administrator in providing
      copies of such documents shall be reimbursed by the Depositor.

     

    
      
        
        

      

      
        151

        
          

        

      

      
        
        

      

    

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

     

    
      	 	 	 
	 	
              GREENWICH
                CAPITAL ACCEPTANCE, INC., 

              as
                Depositor

            
	 
 	 
 	 
 
	 	By:  	/s/
              Ara Balabanian
	 	
              
Name:
              Ara Balabanian
	 	Title:
              Vice President

    

     

    
      	 	 	 
	 	
              GREENWICH
                CAPITAL
                FINANCIAL PRODUCTS, INC., 

              as
                Seller

            
	 
 	 
 	 
 
	 	By:  	/s/ Ara Balabanian
	 	
              

              Name:
                Ara Balabanian

            
	 	Title:
              Vice President

    

     

    
      	 	 	 
	 	
              
                WELLS
                  FARGO BANK, N.A., 

                as
                  Master Servicer

              

            
	 
 	 
 	 
 
	 	By:  	/s/ Graham Oglesby
	 	
              

              Name:
                Graham Oglesby

            
	 	Title:
              Assistant Vice President

    

      

    
      	 	 	 
	 	
              
                WELLS
                  FARGO BANK, N.A., 

                as
                  Securities Administrator

              

            
	 
 	 
 	 
 
	 	By:  	/s/ Graham Oglesby
	 	
              

              Name:
                Graham Oglesby

            
	 	Title:
              Assistant Vice President

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	 	 
	 	
              DEUTSCHE
                BANK
                NATIONAL TRUST COMPANY, 

              as
                Trustee and
                Custodian

            
	 
 	 
 	 
 
	 	By:  	/s/ Melissa Wilman
	 	
              

              Name:
                Melissa Wilman

            
	 	Title:
              Vice President

    

     

    
      	 	 	 
	 	By:  	/s/ Karlene Benvenuto
	 	
              

              Name:
                Karlene Benvenuto

            
	 	Title:
              Authorized Signer

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	 	 
	 	
              CLAYTON
                FIXED INCOME SERVICES INC., 

              as
                Credit Risk
                Manager

            
	 
 	 
 	 
 
	 	By:  	/s/ Kevin J. Kanauff
	 	
              

              Name:
                Kevin J. Kanauff

            
	 	Title:
              President and General Counsel

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      I

    

    MORTGAGE
      LOAN SCHEDULE

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      EXHIBIT
        A

       

      FORM
        OF SENIOR CERTIFICATE

       

      CLASS
        [    ]A[-1[    ]] CERTIFICATE

       

      UNLESS
        THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
        IS
        REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
        BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF
        DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
        OR TO
        ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
        HAS AN INTEREST HEREIN.

       

      IF
        THE
        RATING OF THIS CERTIFICATE IS BELOW “AA-” OR ITS EQUIVALENT WHEN IT IS ACQUIRED,
        THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE
        REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT
        PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
        OF
        1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF
        THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN
        OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO EFFECT THE
        TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN ERISA-QUALIFYING
        UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE
        WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN
        SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT
        THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I
        AND
        III OF PTCE 95-60.

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED,
        RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

       

      
        	
                Certificate
                  No.:

                 

              	 	
                [  
                  ]

                 

              
	
                Cut-Off
                  Date:

                 

              	 	
                August
                  1, 2006

                 

              
	
                First
                  Distribution Date:

                 

              	 	
                September
                  21, 2006

                 

              
	
                Initial
                  Certificate Principal Balance of this Certificate
                  (“Denomination”):

              	 	
                $[  
                  ]

              

      

       

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

      
        	
                Original
                  Class Certificate Principal Balance of this Class:

                 

              	 	
                $[  
                  ]

                 

              
	
                Percentage
                  Interest:

                 

              	 	
                100%

                 

              
	
                Pass-Through
                  Rate:

                 

              	 	
                Variable

                 

              
	
                CUSIP:

                 

              	 	
                41161G
                  [    ]

                 

              
	
                Class:

                 

              	 	
                [   
                  ]A[-1[    ]]

                 

              
	
                Assumed
                  Final Distribution Date:

              	 	
                July
                  21, 2036

              

      

      

      
        
          
          

        

        
          A-2

          
            

          

        

        
          
          

        

      

      HarborView
        Mortgage Loan Trust 2006-8,

      Mortgage
        Loan Pass-Through Certificates, Series 2006-8

      Class
        [    ]A[-1[    ]]

       

      evidencing
        the Percentage Interest in the distributions allocable to the Certificates
        of
        the above-referenced Class with respect to the Trust Fund consisting primarily
        of hybrid, first lien mortgage loans (the “Mortgage Loans”) purchased from
        others by

       

      GREENWICH
        CAPITAL ACCEPTANCE, INC., as Depositor.

       

      Principal
        in respect of this Certificate is distributable monthly as set forth herein
        and
        in the Agreement. Accordingly, the Certificate Principal Balance of this
        Certificate at any time may be less than the Initial Certificate Principal
        Balance set forth on the face hereof, as described herein. This Certificate
        does
        not evidence an obligation of, or an interest in, and is not guaranteed by
        the
        Depositor, the Seller, the Master Servicer, the Securities Administrator
        or the
        Trustee referred to below or any of their respective affiliates.

       

      This
        certifies that CEDE & CO. is the registered owner of the Percentage Interest
        evidenced by this Certificate (obtained by dividing the Denomination of this
        Certificate by the Original Class Certificate Principal Balance) in certain
        monthly distributions with respect to a Trust Fund consisting primarily of
        the
        Mortgage Loans deposited by Greenwich Capital Acceptance, Inc. (the
“Depositor”). The Trust Fund was created pursuant to a Pooling and Servicing
        Agreement dated as of August 1, 2006 (the “Agreement”) among the Depositor,
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer and securities administrator, Clayton
        Fixed
        Income Services Inc., as credit risk manager and Deutsche Bank National Trust
        Company, as trustee and custodian. To the extent not defined herein, the
        capitalized terms used herein have the meanings assigned in the Agreement.
        This
        Certificate is issued under and is subject to the terms, provisions and
        conditions of the Agreement, to which Agreement the Holder of this Certificate
        by virtue of the acceptance hereof assents and by which such Holder is
        bound.

       

      Reference
        is hereby made to the further provisions of this Certificate set forth on
        the
        reverse hereof, which further provisions shall for all purposes have the
        same
        effect as if set forth at this place.

       

      This
        Certificate shall not be entitled to any benefit under the Agreement or be
        valid
        for any purpose unless manually authenticated by an authorized signatory
        of the
        Securities Administrator Registrar.

       

      
        
          
          

        

        
          A-3

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

       

      WELLS
        FARGO BANK, N.A.,

      as
        Securities Administrator

      

      By
        _______________________________________

       

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

      

      

      By
        ________________________________________

      Authorized
        Signatory of

      WELLS
        FARGO BANK, N.A.,

      as
        Certificate Registrar

       

      
        
          
          

        

        
          A-4

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

       

      FORM
        OF SUBORDINATE CERTIFICATE

       

      UNLESS
        THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
        IS
        REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
        BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF
        DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
        OR TO
        ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
        HAS AN INTEREST HEREIN.

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED,
        RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986,
        AS
        AMENDED (THE “CODE”).

       

      IF
        THE
        RATING OF THIS CERTIFICATE IS BELOW “BBB-” OR ITS EQUIVALENT WHEN IT IS
        ACQUIRED, THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED
        TO
        HAVE REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE
        BENEFIT PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY
        ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION
        4975 OF THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY
        SUCH PLAN OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO
        EFFECT THE TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN
        ERISA-QUALIFYING UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING
        THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT”
AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”)
        95-60 AND THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER
        SECTIONS I AND III OF PTCE 95-60.

       

      THIS
        CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT
        REFERRED TO HEREIN.

       

      
        	
                Certificate
                  No.:

                 

              	 	
                1

                 

              
	
                Cut-Off
                  Date:

                 

              	 	
                August
                  1, 2006

                 

              
	
                First
                  Distribution Date:

                 

              	 	
                September
                  21, 2006

                 

              
	
                Initial
                  Certificate Principal Balance of this Certificate
                  (“Denomination”):

              	 	
                $[   
                  ]

              

      

       

      
        
          
          

        

        
          B-1

          
            

          

        

        
          
          

        

      

      
        	
                Original
                  Class Certificate Principal Balance of this Class:

              	 	
                $[   
                  ]

              
	
                Percentage
                  Interest:

                 

              	 	
                100%

                 

              
	
                Pass-Through
                  Rate:

                 

              	 	
                Variable

                 

              
	
                CUSIP:

                 

              	 	
                41161G
                  [    ]

                 

              
	
                Class:

                 

              	 	
                B-[  
                   ]

                 

              
	
                Assumed
                  Final Distribution Date:

              	 	
                July
                  21, 2036

              

      

       

      
        
          
          

        

        
          B-2

          
            

          

        

        
          
          

        

      

      HarborView
        Mortgage Loan Trust,

      Mortgage
        Loan Pass-Through Certificates, Series 2006-8

      Class
        B-[    ]

       

      evidencing
        the Percentage Interest in the distributions allocable to the Certificates
        of
        the above-referenced Class with respect to the Trust Fund consisting primarily
        of hybrid, first lien mortgage loans (the “Mortgage Loans”) purchased from
        others by 

       

      GREENWICH
        CAPITAL ACCEPTANCE INC., as Depositor.

       

      Principal
        in respect of this Certificate is distributable monthly as set forth herein
        and
        in the Agreement. Accordingly, the Certificate Principal Balance of this
        Certificate at any time may be less than the Initial Certificate Principal
        Balance set forth on the face hereof, as described herein. This Certificate
        does
        not evidence an obligation of, or an interest in, and is not guaranteed by
        the
        Depositor, the Seller, the Master Servicer, the Securities Administrator
        or the
        Trustee referred to below or any of their respective affiliates.

       

      This
        certifies that CEDE & CO. is the registered owner of the Percentage Interest
        evidenced by this Certificate (obtained by dividing the Denomination of this
        Certificate by the Original Class Certificate Principal Balance) in certain
        monthly distributions with respect to a Trust Fund consisting primarily of
        the
        Mortgage Loans deposited by Greenwich Capital Acceptance, Inc. (the
“Depositor”). The Trust Fund was created pursuant to a Pooling and Servicing
        Agreement dated as of August 1, 2006 (the “Agreement”) among the Depositor,
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer and securities administrator, Clayton
        Fixed
        Income Services Inc., as credit risk manager and Deutsche Bank National Trust
        Company, as trustee and custodian. To the extent not defined herein, the
        capitalized terms used herein have the meanings assigned in the Agreement.
        This
        Certificate is issued under and is subject to the terms, provisions and
        conditions of the Agreement, to which Agreement the Holder of this Certificate
        by virtue of the acceptance hereof assents and by which such Holder is
        bound.

       

      Reference
        is hereby made to the further provisions of this Certificate set forth on
        the
        reverse hereof, which further provisions shall for all purposes have the
        same
        effect as if set forth at this place.

       

      This
        Certificate shall not be entitled to any benefit under the Agreement or be
        valid
        for any purpose unless manually authenticated by an authorized signatory
        of the
        Securities Administrator.

       

      
        
          
          

        

        
          B-3

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

       

      WELLS
        FARGO BANK, N.A.,

      as
        Securities Administrator

      
 

      

      By
        _____________________________________

       

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      

      

      By
        ________________________________________

      Authorized
        Signatory of

      WELLS
        FARGO BANK, N.A.,

      as
        Certificate Registrar

       

      
        
          
          

        

        
          B-4

          
            

          

        

        
          
          

        

      

      EXHIBIT
        C-1

       

      FORM
        OF CLASS C CERTIFICATE

       

      THIS
        CERTIFICATE DOES NOT EVIDENCE AN INTEREST IN ANY REMIC CREATED PURSUANT TO
        THE
        AGREEMENT REFERENCED HEREIN.

       

      THE
        HOLDER OF THIS CERTIFICATE WILL BE ENTITLED TO CERTAIN DISTRIBUTIONS AS PROVIDED
        IN THE AGREEMENT.

       

      THIS
        CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
        AMENDED, (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE
        NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
        TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE
        OF SUCH
        REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO,
        REGISTRATION.

       

      THE
        HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE
        REPRESENTED AND WARRANTED THAT IT ACQUIRED SUCH CERTIFICATE (I)(A) PURSUANT
        TO A
        REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT
        OR
        (B) AS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE 1933
        ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
        INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE
        IN
        RELIANCE ON RULE 144A, AND THAT (II) SUCH HOLDER IS NOT AN EMPLOYEE BENEFIT
        PLAN
        SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
        (“ERISA”), OR A PLAN OR ARRANGEMENT SECTION 4975 OF THE INTERNAL REVENUE CODE OF
        1986, AS AMENDED (THE “CODE”), THE TRUSTEE OF ANY SUCH PLAN OR A PERSON ACTING
        ON BEHALF OF ANY SUCH PLAN NOR A PERSON USING THE ASSETS OF ANY SUCH
        PLAN.

       

      NEITHER
        THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
        TRANSFEREE DELIVERS TO THE CERTIFICATE REGISTRAR EITHER (A) A REPRESENTATION
        LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN
        OR
        OTHER RETIREMENT ARRANGEMENT SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT
        INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE
        INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR ANY ENTITY DEEMED TO
        HOLD THE PLAN ASSETS OF THE FOREGOING (COLLECTIVELY, A “PLAN”) NOR A PERSON
        ACTING FOR, OR ON BEHALF OF, ANY SUCH PLAN TO EFFECT THE TRANSFER, OR (B)
        IF
        THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING,
        A
        REPRESENTATION THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS
        CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS
        DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTCE
        95-60”) AND THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER
        SECTIONS I AND III OF PTCE-95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE
        WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING
        ANYTHING ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE
        TO OR ON BEHALF OF A PLAN WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO THE
        CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO
        EFFECT.

      THIS
        CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT
        REFERRED TO HEREIN.

       

      
        
          
          

        

        
          C-1-1

          
            

          

        

        
          
          

        

      

      
        	
                Certificate
                  No.:

                 

              	 	
                1

                 

              
	
                Cut-Off
                  Date:

                 

              	 	
                August
                  1, 2006

                 

              
	
                Initial
                  Certificate Principal Balance of this Certificate
                  (“Denomination”):

              	 	
                $[  
                   ]

              
	 	 	 
	
                Original
                  Class Principal Balance of this Class:

              	 	
                $[  
                   ]

              
	 	 	 
	
                Percentage
                  Interest:

              	 	
                100%

              
	 	 	 
	
                Class:

                 

              	 	
                C

                 

              

      

      

      
        
          
          

        

        
          C-1-2

          
            

          

        

        
          
          

        

      

      HarborView
        Mortgage Loan Trust 2006-8

       

      Mortgage
        Loan Pass-Through Certificates, 

      Series
        2006-8

      Class
        C

       

      evidencing
        the Percentage Interest in the distributions allocable to the Certificates
        of
        the above-referenced Class with respect to the Trust Fund consisting primarily
        of first lien mortgage loans (the “Mortgage Loans”) purchased from others
        by

       

      GREENWICH
        CAPITAL ACCEPTANCE, INC., as Depositor.

       

      Funds
        in
        respect of this Certificate are distributable as set forth herein and in
        the
        pooling and servicing agreement dated as of August 1, 2006 (the “Agreement”)
        among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”)
        and securities administrator (in such capacity, the “Securities Administrator”),
        Clayton Fixed Income Services Inc., as credit risk manager, and Deutsche
        Bank
        National Trust Company, as trustee (in such capacity, the “Trustee”) and
        custodian. Accordingly, the Certificate Principal Balance of this Certificate
        at
        any time may be less than the Initial Certificate Principal Balance set forth
        on
        the face hereof, as described herein. This Certificate does not evidence
        an
        obligation of, or an interest in, and is not guaranteed by the Depositor,
        the
        Seller, the Master Servicer, the Securities Administrator or the Trustee
        referred to below or any of their respective affiliates.

       

      This
        certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner
        of the
        Percentage Interest evidenced by this Certificate (obtained by dividing the
        Denomination of this Certificate by the Original Class Certificate Principal
        Balance) in certain distributions with respect to a Trust Fund consisting
        primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund
        was
        created pursuant to the Agreement. To the extent not defined herein, capitalized
        terms used herein have the meanings assigned to them in the Agreement. This
        Certificate is issued under and is subject to the terms, provisions and
        conditions of the Agreement, to which Agreement the Holder of this Certificate
        by virtue of the acceptance hereof assents and by which such Holder is
        bound.

       

      Reference
        is hereby made to the further provisions of this Certificate set forth on
        the
        reverse hereof, which further provisions shall for all purposes have the
        same
        effect as if set forth at this place.

       

      This
        Certificate shall not be entitled to any benefit under the Agreement or be
        valid
        for any purpose unless manually authenticated by an authorized signatory
        of the
        Securities Administrator and Certificate Registrar.

       

      
        
          
          

        

        
          C-1-3

          
            

          

        

        
          
          

        

      

      No
        transfer of this Certificate shall be made unless the Certificate Registrar
        shall have received either (i) a representation letter from the transferee
        of
        such Certificate, acceptable to and in form and substance satisfactory to
        the
        Certificate Registrar and the Depositor and in substantially the form attached
        to the Agreement, to the effect that such transferee is not an employee benefit
        or other plan or arrangement subject to Section 406 of the Employee Retirement
        Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the
        Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on
        behalf or investing plan assets of any such plan or arrangement, which
        representation letter shall not be an expense of the Securities Administrator,
        or (ii) if the purchaser is an insurance company, a representation that the
        purchaser is an insurance company which is purchasing such Certificate with
        funds contained in an “insurance company general account” (as such term is
        defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE
        95-60”)) and that the purchase and holding of such Certificate are covered under
        Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance
        with the provisions of the Agreement. Notwithstanding anything else to the
        contrary herein, any purported transfer of this Certificate to or on behalf
        of
        an employee benefit plan subject to ERISA or to the Code without the opinion
        of
        counsel satisfactory to the Certificate Registrar as described above shall
        be
        void and of no effect.

       

      Each
        Holder of this Certificate will be deemed to have agreed to be bound by the
        restrictions of the Agreement, including but not limited to the restrictions
        that (i) each person holding or acquiring any Ownership Interest in this
        Certificate must be a Permitted Transferee, (ii) no Ownership Interest in
        this
        Certificate may be transferred without delivery to the Trustee and the
        Certificate Registrar of (a) a transfer affidavit of the proposed transferee
        and
        (b) a transfer certificate of the transferor, each of such documents to be
        in
        the form described in the Agreement, (iii) each person holding or acquiring
        any
        Ownership Interest in this Certificate must agree to require a transfer
        affidavit and to deliver a transfer certificate to the Certificate Registrar
        as
        required pursuant to the Agreement, (iv) each person holding or acquiring
        an
        Ownership Interest in this Certificate must agree not to transfer an Ownership
        Interest in this Certificate if it has actual knowledge that the proposed
        transferee is not a Permitted Transferee and (v) any attempted or purported
        transfer of any Ownership Interest in this Certificate in violation of such
        restrictions will be absolutely null and void and will vest no rights in
        the
        purported transferee. The Securities Administrator will provide the Internal
        Revenue Service and any pertinent persons with the information needed to
        compute
        the tax imposed under the applicable tax laws on transfers of residual interests
        to disqualified organizations, if any person other than a Permitted Transferee
        acquires an Ownership Interest on a Class C Certificate in violation of the
        restrictions mentioned above.

       

      
        
          
          

        

        
          C-1-4

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Securities Administrator has caused this Certificate
        to be
        duly executed.

       

      Dated:
        August ___, 2006

       

      WELLS
        FARGO BANK, N.A.,

      as
        Securities Administrator 

      

      

      By
        _________________________________________

       

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      

      

      By
        ________________________________________

      Authorized
        Signatory of

      Wells
        Fargo Bank, N.A.,

      as
        Certificate Registrar

       

      
        
          
          

        

        
          C-1-5

          
            

          

        

        
          
          

        

      

      EXHIBIT
        C-2

       

      FORM
        OF CLASS P CERTIFICATE

       

      THIS
        CERTIFICATE DOES NOT EVIDENCE AN INTEREST IN ANY REMIC CREATED PURSUANT TO
        THE
        AGREEMENT REFERENCED HEREIN. 

       

      THE
        HOLDER OF THIS CERTIFICATE WILL BE ENTITLED TO CERTAIN DISTRIBUTIONS AS PROVIDED
        IN THE AGREEMENT.

       

      THIS
        CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
        AMENDED, (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE
        NOR ANY INTEREST HEREIN MAY BE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION,
        UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO,
        REGISTRATION.

       

      THE
        HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL
        OR
        OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION
        STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT OR (B) TO
        A
“QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A, AS EVIDENCED BY AN
        INVESTMENT LETTER DELIVERED BY THE TRANSFEREE TO THE CERTIFICATE REGISTRAR,
        IN
        SUBSTANTIALLY THE FORM ATTACHED TO THE AGREEMENT.

       

      NEITHER
        THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
        CERTIFICATE REGISTRAR SHALL HAVE RECEIVED EITHER (A) A REPRESENTATION LETTER
        TO
        THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO
        SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
        (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE OR A
        PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT OR USING PLAN ASSETS
        OF
        ANY SUCH PLAN OR ARRANGEMENT TO EFFECT THE TRANSFER, OR (B) IF THIS CERTIFICATE
        HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING, A REPRESENTATION
        THAT
        THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH FUNDS
        CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION V(e)
        OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT THE PURCHASE
        AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND III OF PTCE
        95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE WITH THE PROVISIONS OF
        THE
        AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY
        HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO OR ON BEHALF OF AN
        EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR TO SECTION 4975 OF THE CODE WITHOUT
        THE DELIVERY TO THE CERTIFICATE REGISTRAR OF AN OPINION OF COUNSEL SATISFACTORY
        TO THE CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO
        EFFECT.

       

      
        
          
          

        

        
          C-2-1

          
            

          

        

        
          
          

        

      

      

       

      
        	
                Certificate
                  No.:

                 

              	 	
                1

                 

              
	
                Cut-Off
                  Date:

                 

              	 	
                August
                  1, 2006

                 

              
	
                First
                  Distribution Date:

                 

              	 	
                September
                  21, 2006

                 

              
	
                Initial
                  Certificate Principal Balance of this Certificate:

                 

              	 	
                $100

                 

              
	
                Original
                  Class Principal Balance of this Class:

                 

              	 	
                $100

                 

              
	 	 	 
	
                Percentage
                  Interest:

              	 	
                100%

              
	 	 	 
	
                Class:

                 

              	 	
                P

                 

              

      

      

      
        
          
          

        

        
          C-2-2

          
            

          

        

        
          
          

        

      

      HarborView
        Mortgage Loan Trust 2006-8

      Mortgage
        Loan Pass-Through Certificates, Series 2006-8

      Class
        P

       

      evidencing
        the Percentage Interest in the distributions allocable to the Certificates
        of
        the above-referenced Class with respect to the Trust Fund consisting primarily
        of first lien mortgage loans (the “Mortgage Loans”) purchased from others
        by

       

      GREENWICH
        CAPITAL ACCEPTANCE, INC., as Depositor.

       

      Funds
        in
        respect of this Certificate are distributable as set forth herein and in
        the
        pooling and servicing agreement dated as of August 1, 2006 (the “Agreement”)
        among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”)
        and securities administrator (in such capacity, the “Securities Administrator”),
        Clayton Fixed Income Services Inc., as credit risk manager, and Deutsche
        Bank
        National Trust Company, as trustee (in such capacity, the “Trustee”) and
        custodian. Accordingly, the Certificate Principal Balance of this Certificate
        at
        any time may be less than the Initial Certificate Principal Balance set forth
        on
        the face hereof, as described herein. This Certificate does not evidence
        an
        obligation of, or an interest in, and is not guaranteed by the Depositor,
        the
        Seller, the Master Servicer, the Securities Administrator or the Trustee
        referred to below or any of their respective affiliates.

       

      This
        certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner
        of the
        Percentage Interest evidenced by this Certificate (obtained by dividing the
        Denomination of this Certificate by the Original Class Certificate Principal
        Balance) in certain distributions with respect to a Trust Fund consisting
        primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund
        was
        created pursuant to the Agreement. To the extent not defined herein, capitalized
        terms used herein have the meanings assigned to them in the Agreement. This
        Certificate is issued under and is subject to the terms, provisions and
        conditions of the Agreement, to which Agreement the Holder of this Certificate
        by virtue of the acceptance hereof assents and by which such Holder is
        bound.

       

      Reference
        is hereby made to the further provisions of this Certificate set forth on
        the
        reverse hereof, which further provisions shall for all purposes have the
        same
        effect as if set forth at this place.

       

      This
        Certificate shall not be entitled to any benefit under the Agreement or be
        valid
        for any purpose unless manually authenticated by an authorized signatory
        of the
        Securities Administrator and Certificate Registrar.

       

      
        
          
          

        

        
          C-2-3

          
            

          

        

        
          
          

        

      

      No
        transfer of this Certificate shall be made unless the Certificate Registrar
        shall have received either (i) a representation letter from the transferee
        of
        such Certificate, acceptable to and in form and substance satisfactory to
        the
        Certificate Registrar and the Depositor and in substantially the form attached
        to the Agreement, to the effect that such transferee is not an employee benefit
        or other plan or arrangement subject to Section 406 of the Employee Retirement
        Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the
        Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on
        behalf or investing plan assets of any such plan or arrangement, which
        representation letter shall not be an expense of the Securities Administrator,
        or (ii) if the purchaser is an insurance company, a representation that the
        purchaser is an insurance company which is purchasing such Certificate with
        funds contained in an “insurance company general account” (as such term is
        defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE
        95-60”)) and that the purchase and holding of such Certificate are covered under
        Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance
        with the provisions of the Agreement. Notwithstanding anything else to the
        contrary herein, any purported transfer of this Certificate to or on behalf
        of
        an employee benefit plan subject to ERISA or to the Code without the opinion
        of
        counsel satisfactory to the Certificate Registrar as described above shall
        be
        void and of no effect.

       

      Each
        Holder of this Certificate will be deemed to have agreed to be bound by the
        restrictions of the Agreement, including but not limited to the restrictions
        that (i) each person holding or acquiring any Ownership Interest in this
        Certificate must be a Permitted Transferee, (ii) no Ownership Interest in
        this
        Certificate may be transferred without delivery to the Trustee and the
        Certificate Registrar of (a) a transfer affidavit of the proposed transferee
        and
        (b) a transfer certificate of the transferor, each of such documents to be
        in
        the form described in the Agreement, (iii) each person holding or acquiring
        any
        Ownership Interest in this Certificate must agree to require a transfer
        affidavit and to deliver a transfer certificate to the Trustee and the
        Certificate Registrar as required pursuant to the Agreement, (iv) each person
        holding or acquiring an Ownership Interest in this Certificate must agree
        not to
        transfer an Ownership Interest in this Certificate if it has actual knowledge
        that the proposed transferee is not a Permitted Transferee and (v) any attempted
        or purported transfer of any Ownership Interest in this Certificate in violation
        of such restrictions will be absolutely null and void and will vest no rights
        in
        the purported transferee. The Securities Administrator will provide the Internal
        Revenue Service and any pertinent persons with the information needed to
        compute
        the tax imposed under the applicable tax laws on transfers of residual interests
        to disqualified organizations, if any person other than a Permitted Transferee
        acquires an Ownership Interest on a Class P Certificate in violation of the
        restrictions mentioned above.

       

      
        
          
          

        

        
          C-2-4

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

       

      WELLS
        FARGO BANK, N.A.,

      as
        Securities Administrator 

      

      

      By
        ____________________________________

       

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      

      

      By
        ________________________________________

      Authorized
        Signatory of

      Wells
        Fargo Bank, N.A.,

      as
        Certificate Registrar

       

      
        
          
          

        

        
          C-2-5

          
            

          

        

        
          
          

        

      

      EXHIBIT
        C-3

       

      FORM
        OF CLASS R CERTIFICATE

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED,
        RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986,
        AS
        AMENDED (THE “CODE”).

       

      NEITHER
        THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE PROPOSED
        TRANSFEREE DELIVERS TO THE SECURITIES ADMINISTRATOR A TRANSFER AFFIDAVIT
        IN
        ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.

       

      NEITHER
        THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
        TRANSFEREE DELIVERS TO THE CERTIFICATE REGISTRAR EITHER (A) A REPRESENTATION
        LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN
        SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
        (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE OR A
        PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT OR USING PLAN ASSETS
        OF
        ANY SUCH PLAN OR ARRANGEMENT TO EFFECT THE TRANSFER, OR (B) A REPRESENTATION
        THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH
        FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION
        V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTCE 95-60”) AND THAT THE
        PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND
        III OF
        PTCE-95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE WITH THE PROVISIONS
        OF
        THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY
        HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO OR ON BEHALF OF AN
        EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR TO THE CODE WITHOUT THE OPINION
        OF
        COUNSEL SATISFACTORY TO THE CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL
        BE
        VOID AND OF NO EFFECT.

      

      
        	
                Certificate
                  No.:

                 

              	 	
                1

                 

              
	
                Cut-Off
                  Date:

                 

              	 	
                August
                  1, 2006

                 

              
	
                Percentage
                  Interest:

              	 	
                100%

              
	 	 	 
	
                Class:

              	 	
                R

              

      

      

      
        
          
          

        

        
          C-3-1

          
            

          

        

        
          
          

        

      

      HarborView
        Mortgage Loan Trust 2006-8,

      Mortgage
        Loan Pass-Through Certificates, Series 2006-8

      Class
        R

       

      evidencing
        the Percentage Interest in the distributions allocable to the Certificates
        of
        the above-referenced Class with respect to the Trust Fund consisting primarily
        of first lien mortgage loans (the “Mortgage Loans”) purchased from others
        by

       

      GREENWICH
        CAPITAL ACCEPTANCE, INC., as Depositor.

       

      Funds
        in
        respect of this Certificate are distributable as set forth herein and in
        the
        pooling and servicing agreement dated as of August 1, 2006 (the “Agreement”)
        among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”)
        and securities administrator (in such capacity, the “Securities Administrator”),
        Clayton Fixed Income Services Inc., as credit risk manager, and Deutsche
        Bank
        National Trust Company, as trustee (in such capacity, the “Trustee”) and
        custodian. Accordingly, the Certificate Principal Balance of this Certificate
        at
        any time may be less than the Initial Certificate Principal Balance set forth
        on
        the face hereof, as described herein. This Certificate does not evidence
        an
        obligation of, or an interest in, and is not guaranteed by the Depositor,
        the
        Seller, the Master Servicer, the Securities Administrator or the Trustee
        referred to below or any of their respective affiliates.

       

      This
        certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner
        of the
        Percentage Interest evidenced by this Certificate (obtained by dividing the
        Denomination of this Certificate by the Original Class Certificate Principal
        Balance) in certain distributions with respect to a Trust Fund consisting
        primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund
        was
        created pursuant to the Agreement. To the extent not defined herein, capitalized
        terms used herein have the meanings assigned to them in the Agreement. This
        Certificate is issued under and is subject to the terms, provisions and
        conditions of the Agreement, to which Agreement the Holder of this Certificate
        by virtue of the acceptance hereof assents and by which such Holder is
        bound.

       

      Reference
        is hereby made to the further provisions of this Certificate set forth on
        the
        reverse hereof, which further provisions shall for all purposes have the
        same
        effect as if set forth at this place.

       

      This
        Certificate shall not be entitled to any benefit under the Agreement or be
        valid
        for any purpose unless manually authenticated by an authorized signatory
        of the
        Securities Administrator and Certificate Registrar.

       

      
        
          
          

        

        
          C-3-2

          
            

          

        

        
          
          

        

      

      No
        transfer of this Certificate shall be made unless the Certificate Registrar
        shall have received either (i) a representation letter from the transferee
        of
        such Certificate, acceptable to and in form and substance satisfactory to
        the
        Trustee and the Certificate Registrar and in substantially the form attached
        to
        the Agreement, to the effect that such transferee is not an employee benefit
        or
        other plan or arrangement subject to Section 406 of the Employee Retirement
        Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the
        Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on
        behalf or investing plan assets of any such plan or arrangement, which
        representation letter shall not be an expense of the Securities Administrator,
        or (ii) if the purchaser is an insurance company, a representation that the
        purchaser is an insurance company which is purchasing such Certificate with
        funds contained in an “insurance company general account” (as such term is
        defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE
        95-60”)) and that the purchase and holding of such Certificate are covered under
        Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance
        with the provisions of the Agreement. Notwithstanding anything else to the
        contrary herein, any purported transfer of this Certificate to or on behalf
        of
        an employee benefit plan subject to ERISA or to the Code without the opinion
        of
        counsel satisfactory to the Certificate Registrar as described above shall
        be
        void and of no effect.

       

      Each
        Holder of this Certificate will be deemed to have agreed to be bound by the
        restrictions of the Agreement, including but not limited to the restrictions
        that (i) each person holding or acquiring any Ownership Interest in this
        Certificate must be a Permitted Transferee, (ii) no Ownership Interest in
        this
        Certificate may be transferred without delivery to the Trustee and the
        Certificate Registrar of (a) a transfer affidavit of the proposed transferee
        and
        (b) a transfer certificate of the transferor, each of such documents to be
        in
        the form described in the Agreement, (iii) each person holding or acquiring
        any
        Ownership Interest in this Certificate must agree to require a transfer
        affidavit and to deliver a transfer certificate to the Trustee and the
        Certificate Registrar as required pursuant to the Agreement, (iv) each person
        holding or acquiring an Ownership Interest in this Certificate must agree
        not to
        transfer an Ownership Interest in this Certificate if it has actual knowledge
        that the proposed transferee is not a Permitted Transferee and (v) any attempted
        or purported transfer of any Ownership Interest in this Certificate in violation
        of such restrictions will be absolutely null and void and will vest no rights
        in
        the purported transferee. The Securities Administrator will provide the Internal
        Revenue Service and any pertinent persons with the information needed to
        compute
        the tax imposed under the applicable tax laws on transfers of residual interests
        to disqualified organizations, if any person other than a Permitted Transferee
        acquires an Ownership Interest on a Class R Certificate in violation of the
        restrictions mentioned above.

       

      
        
          
          

        

        
          C-3-3

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

       

      WELLS
        FARGO BANK, N.A.,

      as
        Securities Administrator 

      

      

      By
        _____________________________________

       

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      

      

      By
        ________________________________________

      Authorized
        Signatory of

      Wells
        Fargo Bank, N.A.,

      as
        Certificate Registrar

       

      
        
          
          

        

        
          C-3-4

          
            

          

        

        
          
          

        

      

      EXHIBIT
        D

       

      FORM
        OF REVERSE CERTIFICATE

       

      HARBORVIEW
        MORTGAGE LOAN TRUST 2006-8

      Mortgage
        Loan Pass-Through Certificates, Series 2006-8

      Reverse
        Certificate

       

      This
        Certificate is one of a duly authorized issue of Certificates designated
        as
        HarborView Mortgage Loan Trust, Mortgage Loan Pass-Through Certificates,
        Series
        2006-8 (herein collectively called the “Certificates”), and representing a
        beneficial ownership interest in the Trust Fund created by the
        Agreement.

       

      The
        Certificateholder, by its acceptance of this Certificate, agrees that it
        will
        look solely to the funds on deposit in the Distribution Account for payment
        hereunder and that the Trustee is not liable to the Certificateholder for
        any
        amount payable under this Certificate or the Agreement or, except as expressly
        provided in the Agreement, subject to any liability under the
        Agreement.

       

      This
        Certificate does not purport to summarize the Agreement and reference is
        made to
        the Agreement for the interests, rights and limitations of rights, benefits,
        obligations and duties evidenced thereby, and the rights, duties and immunities
        of the Trustee.

       

      Pursuant
        to the terms of the Agreement, distributions will be made on the 21th
        day of
        each month, or if the 21th
        day is
        not a Business Day, then on the next succeeding Business Day (the “Distribution
        Date”), commencing on the Distribution Date in September 2006, to the Person in
        whose name this Certificate is registered at the close of business on the
        applicable Record Date in an amount equal to the product of the Percentage
        Interest evidenced by this Certificate and the amount required to be distributed
        to Holders of Certificates of the Class to which this Certificate belongs
        on
        such Distribution Date pursuant to the Agreement.

       

      Distributions
        on this Certificate shall be made, (i) in the case of a Physical Certificate,
        by
        check or money order mailed to the address of the person entitled thereto
        as it
        appears on the Certificate Register or, upon the request of a Certificateholder,
        by wire transfer as set forth in the Agreement and (ii) in the case of a
        Book-Entry Certificate, to the Depository, which shall credit the amounts
        of
        such distributions to the accounts of its Depository Participants in accordance
        with its normal procedures. The final distribution on each Certificate shall
        be
        made in like manner, but only upon presentment and surrender of such Certificate
        at the office or agency of the Certificate Registrar specified in the notice
        to
        Certificateholders of such final distribution.

       

      The
        Agreement permits, with certain exceptions therein provided, the amendment
        thereof and the modification of the rights of the Certificateholders under
        the
        Agreement at any time, by the Depositor, the Seller, the Master Servicer
        and
        Securities Administrator, the Trustee and Holders of the requisite percentage
        of
        the Percentage Interests of each Class of Certificates affected by such
        amendment, as specified in the Agreement. Any such consent by the Holder
        of this
        Certificate shall be conclusive and binding on such Holder and upon all future
        Holders of this Certificate and of any Certificate issued upon the transfer
        hereof or in exchange therefor or in lieu hereof whether or not notation
        of such
        consent is made upon this Certificate. The Agreement also permits the amendment
        thereof, in certain limited circumstances, without the consent of the Holders
        of
        any of the Certificates.

       

      
        
          
          

        

        
          D-1

          
            

          

        

        
          
          

        

      

      As
        provided in the Agreement and subject to certain limitations therein set
        forth,
        the transfer of this Certificate is registrable in the Certificate Register
        of
        the Certificate Registrar upon surrender of this Certificate for registration
        of
        transfer at the office or agency maintained by the Certificate Registrar
        accompanied by a written instrument of transfer in form satisfactory to the
        Certificate Registrar duly executed by the Holder hereof or such Holder’s
        attorney duly authorized in writing, and thereupon one or more new Certificates
        of the same Class in authorized denominations and evidencing the same aggregate
        Percentage Interest in the Trust Fund will be issued to the designated
        transferee or transferees.

       

      Subject
        to the terms of the Agreement, each Class of Book-Entry Certificates will
        be
        registered as being held by the Depository or its nominee and beneficial
        interests will be held by Certificate Owners through the book-entry facilities
        of the Depository or its nominee in minimum denominations of $25,000 and
        integral dollar multiples of $1 in excess thereof, provided,
        that,
        such
        certificates must be purchased in minimum total investments of (a) at least
        $100,000, in the case of the Class 1A-1, Class 2A-1A, Class 2A-1B, Class
        2A-1C,
        Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class
        B-7
        Certificates; provided
        that,
        that
        such certificates must be purchased in minimum total investments of at least
        $100,000; (b) at least $100,000, in the case of the Class B8 Certificate;
        provided
        that,
        such
        certificate must be purchased in minimum total investments of at least $100,000
        and integral dollar multiples of $1,000 in excess thereof, except that one
        Certificate of each such Class of Certificates may be in a different
        denomination. The Class C, Class P, and Class R Certificate shall be issued
        as a
        single certificate.

       

      No
        service charge will be made for any such registration of transfer or exchange,
        but the Certificate Registrar may require payment of a sum sufficient to
        cover
        any tax or other governmental charge payable in connection
        therewith.

       

      The
        Depositor, the Seller, the Trustee, the Master Servicer, the Securities
        Administrator, the Certificate Registrar and any agent of the foregoing may
        treat the Person in whose name this Certificate is registered as the owner
        hereof for all purposes, and none of the Depositor, the Seller, the Trustee,
        the
        Master Servicer, the Securities Administrator, the Certificate Registrar
        or any
        agent of any of them shall be affected by any notice to the
        contrary.

       

      On
        any
        Distribution Date following the date on which the aggregate of the Stated
        Principal Balances of the Mortgage Loans on such date is equal to or less
        than
        10% of the Cut-Off Date Aggregate Principal Balance, the Servicer, with the
        prior written consent of the NIMS Insurer or at the direction of the NIMS
        Insurer may, at its option, terminate the Agreement by purchasing all of
        the
        outstanding Mortgage Loans and REO Properties at the Termination Price as
        provided in the Agreement. In the event that the Servicer does not exercise
        its
        right of optional termination, the obligations and responsibilities created
        by
        the Agreement will terminate upon the earliest of (i) the Distribution Date
        on
        which the Class Certificate Principal Balance of each Class of Certificates
        has
        been reduced to zero, (ii) the final payment or other liquidation of the
        last
        Mortgage Loan and (iii) the Latest Possible Maturity Date.

       

      
        
          
          

        

        
          D-2

          
            

          

        

        
          
          

        

      

      Capitalized
        terms used herein that are defined in the Agreement shall have the meanings
        ascribed to them in the Agreement, and nothing herein shall be deemed
        inconsistent with that meaning.

       

      
        
          
          

        

        
          D-3

          
            

          

        

        
          
          

        

      

      ASSIGNMENT

       

      FOR
        VALUE
        RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
        

       

      
        

      

       

    

    
      
        
          

        
(Please print or typewrite name and address including postal ZIP code
        of
        assignee)

       

      the
        Percentage Interest evidenced by the within Certificate and hereby authorizes
        the transfer of registration of such Percentage Interest to assignee on the
        Certificate Register of the Trust.

       

      I
        (We)
        further direct the Trustee to issue a new Certificate of a like denomination
        and
        Class, to the above named assignee and deliver such Certificate to the following
        address:

       

        
          

        

      

      .

       

      Dated:
        _____________

       

                            
                 ____________       

      Signature
        by or on behalf of assignor

       

      
        
          
          

        

        
          D-4

          
            

          

        

        
          
          

        

      

      DISTRIBUTION
        INSTRUCTIONS

       

      The
        assignee should include the following for purposes of distribution:

       

      Distributions
        shall be made, by wire transfer or otherwise, in immediately available funds
        to

       

        
          

        

      

      for
        the
        account of
        _______________________________________________________________,

      account
        number ________________________, or, if mailed by check, to
        ________________________________________________________________________________________________

      Applicable
        statements should be mailed to
        ________________________________________________________________________________________________________________________.

       

      This
        information is provided by
        _____________________________________________,

      the
        assignee named above, or
        _____________________________________________________,

      as
        its
        agent.

       

      
        
          
          

        

        
          D-5

          
            

          

        

        
          
          

        

      

      EXHIBIT
        E

       

      [RESERVED]

       

      

       

      

      
        
          
          

        

        
          E-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        F

       

      REQUEST
        FOR RELEASE 

       

                                     

      Date    

       

      [Addressed
        to Trustee

      or,
        if
        applicable, custodian]

       

      In
        connection with the administration of the mortgages held by you as Trustee
        under
        a certain Pooling and Servicing Agreement dated as of August 1, 2006, among
        Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
        Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer and
        Securities Administrator, Clayton Fixed Income Services, Inc., as Credit
        Risk
        Manager and Deutsche Bank National Trust Company, as Trustee and Custodian
        (the
“Pooling and Servicing Agreement”), the undersigned [Master Servicer] [Servicer]
        hereby requests a release of the Mortgage File held by you as Trustee with
        respect to the following described Mortgage Loan for the reason indicated
        below.

       

      Mortgagor’s
        Name:

       

      Address:

       

      Loan
        No.:

       

      Reason
        for requesting file:

       

      1. Mortgage
        Loan paid in full. (The [Master Servicer] [Servicer] hereby certifies that
        all
        amounts received in connection with the loan have been or will be credited
        to a
        Servicing Account or the Distribution Account (whichever is applicable) pursuant
        to the Pooling and Servicing Agreement.)

       

      2. The
        Mortgage Loan is being foreclosed.

       

      3. Mortgage
        Loan substituted. (The [Master Servicer] [Servicer] hereby certifies that
        a
        Qualified Substitute Mortgage Loan has been assigned and delivered to you
        along
        with the related Mortgage File pursuant to the Pooling and Servicing
        Agreement.)

       

      4. Mortgage
        Loan repurchased. (The [Master Servicer] [Servicer] hereby certifies that
        the
        Purchase Price has been credited to a Servicing Account or the Distribution
        Account (whichever is applicable) pursuant to the Pooling and Servicing
        Agreement.)

       

      5. Other.
        (Describe)

       

      
        
          
          

        

        
          F-1

          
            

          

        

        
          
          

        

      

      The
        undersigned acknowledges that the above Mortgage File will be held by the
        undersigned in accordance with the provisions of the Pooling and Servicing
        Agreement and will be returned to you within ten (10) days of our receipt
        of the
        Mortgage File, except if the Mortgage Loan has been paid in full, or repurchased
        or substituted for a Qualified Substitute Mortgage Loan (in which case the
        Mortgage File will be retained by us without obligation to return to
        you).

       

      Capitalized
        terms used herein shall have the meanings ascribed to them in the Pooling
        and
        Servicing Agreement.

       

      _____________________________________

      [Name
        of
        [Master Servicer] [Servicer]]

       

      By:__________________________________

      Name:

      Title:
        Servicing Officer

      

      
        
          
          

        

        
          F-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        G-1

       

      FORM
        OF RECEIPT OF MORTGAGE NOTE

       

      RECEIPT
        OF MORTGAGE NOTE

       

      Greenwich
        Capital Acceptance, Inc.

      600
        Steamboat Road

      Greenwich,
        Connecticut 06830

       

      
        	 	
                Re:

                 

              	
                HarborView
                  Mortgage Loan Trust

                Mortgage
                  Loan Pass-Through Certificates, Series
                  2006-8

              

      

      

       

      Ladies
        and Gentlemen:

       

      Pursuant
        to Section 2.01 of the Pooling and Servicing Agreement dated as of August
        1,
        2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital
        Financial Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer
        and Securities Administrator, Clayton Fixed Income Services Inc., as Credit
        Risk
        Manager and Deutsche Bank National Trust Company, as Trustee and Custodian,
        we
        hereby acknowledge the receipt of the original Mortgage Note with respect
        to
        each Mortgage Loan listed on Exhibit 1, with any exceptions thereto listed
        on
        Exhibit 2.

       

      

       

      DEUTSCHE
        BANK NATIONAL TRUST COMPANY, as Trustee

       

      

      

      By:
        ____________________________

      Name:

      Title:

       

      

       

      Dated:
        

       

      
        
          
          

        

        
          G-1-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        1

       

      MORTGAGE
        LOAN SCHEDULE

       

      
        
          
          

        

        
          G-1-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        2

       

      EXCEPTION
        REPORT

       

      
        
          
          

        

        
          G-1-3

          
            

          

        

        
          
          

        

      

      EXHIBIT
        G-2

       

      FORM
        OF INTERIM CERTIFICATION OF TRUSTEE

       

      INTERIM
        CERTIFICATION OF TRUSTEE

       

      [date]

       

      

       

      
        	
                Greenwich
                  Capital Acceptance, Inc.

                600
                  Steamboat Road

                Greenwich,
                  Connecticut 06830

                 

              
	
                Greenwich
                  Capital Financial Products, Inc.

                600
                  Steamboat Road

                Greenwich,
                  Connecticut 06830

                 

              
	
                Wells
                  Fargo Bank, N.A.

                9062
                  Old Annapolis Road

                Columbia,
                  Maryland 21045

                 

              

      

       

      
        	 	
                Re:

                 

              	
                Pooling
                  and Servicing Agreement dated as of August 1, 2006, among Greenwich
                  Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                  Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer
                  and
                  Securities Administrator, Clayton Fixed Income Services, Inc.,
                  as Credit
                  Risk Manager and Deutsche Bank National Trust Company, as Trustee
                  and
                  Custodian, HarborView Mortgage Loan Trust

              
	 	 	
                Mortgage
                  Loan Pass-Through Certificates, Series
                  2006-8

              

      

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 2.02 of the above-captioned Pooling and Servicing
        Agreement (the “Pooling and Servicing Agreement”), the undersigned, as Trustee,
        hereby certifies that, as to each Mortgage Loan listed in the Mortgage Loan
        Schedule (other than any Mortgage Loan paid in full or listed on the attached
        schedule) it has received:

       

      
        	 	
                (i)

              	
                all
                  documents required to be delivered to the Trustee pursuant to
                  Section 2.01 of the Pooling and Servicing Agreement are in its
                  possession;

              

      

       

      
        	 	
                (ii)

              	
                such
                  documents have been reviewed by the Trustee and have not been mutilated,
                  damaged or torn and relate to such Mortgage Loan;
                  and

              

      

       

      
        	 	
                (iii)

              	
                based
                  on the Trustee’s examination and only as to the foregoing, the information
                  set forth in the Mortgage Loan Schedule that corresponds to items
                  (i),
                  (ii), (xx), (xxi) and (xxiv) of the Mortgage Loan Schedule accurately
                  reflects information set forth in the Mortgage
                  File.

              

      

       

      
        
          
          

        

        
          G-2-1

          
            

          

        

        
          
          

        

      

      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.

      

       

      DEUTSCHE
        BANK NATIONAL TRUST COMPANY, as Trustee

       

      By:
        _____________________________

      Name:
        ___________________________

      Title:
        ____________________________

      

      
        
          
          

        

        
          G-2-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        G-3

       

      FORM
        OF FINAL CERTIFICATION OF TRUSTEE

       

      FINAL
        CERTIFICATION OF TRUSTEE

       

      [date]

       

      
        	
                Greenwich
                  Capital Acceptance, Inc.

                600
                  Steamboat Road

                Greenwich,
                  Connecticut 06830

                 

              
	
                Greenwich
                  Capital Financial Products, Inc.

                600
                  Steamboat Road

                Greenwich,
                  Connecticut 06830

                 

              
	
                Wells
                  Fargo Bank, N.A.

                9062
                  Old Annapolis Road

                Columbia,
                  Maryland 21045

                 

              

      

      

       

      
        	 	
                Re:

                 

              	
                Pooling
                  and Servicing Agreement dated as of August 1, 2006, among Greenwich
                  Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                  Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer
                  and
                  Securities Administrator, Clayton Fixed Income Services, Inc.,
                  as Credit
                  Risk Manager and Deutsche Bank National Trust Company, as Trustee
                  and
                  Custodian, HarborView Mortgage Loan Trust

              
	 	 	
                Mortgage
                  Loan Pass-Through Certificates, Series
                  2006-8

              

      

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 2.02 of the above-captioned Pooling and Servicing
        Agreement (the “Pooling and Servicing Agreement”), the undersigned, as Trustee,
        hereby certifies that as to each Mortgage Loan listed in the Mortgage Loan
        Schedule (other than any Mortgage Loan paid in full or listed on the attached
        Document Exception Report) it has received all documents required to be
        delivered to the Trustee pursuant to Section 2.01 of the Pooling and Servicing
        Agreement.

       

      Based
        on
        its review and examination and only as to the foregoing documents, (a) such
        documents appear regular on their face and related to such Mortgage Loan,
        and
        (b) the information set forth in items (i), (ii), (xx), (xxi) and (xxiv)
        of the
        definition of the “Mortgage Loan Schedule” in Section 1.01 of the Pooling and
        Servicing Agreement accurately reflects information set forth in the Mortgage
        File.

       

      
        
          
          

        

        
          G-3-1

          
            

          

        

        
          
          

        

      

      The
        Trustee has made no independent examination of any documents contained in
        each
        Mortgage File beyond the review specifically required in the Pooling and
        Servicing Agreement. The Trustee makes no representations as to: (i) the
        validity, legality, sufficiency, enforceability or genuineness of any of
        the
        documents contained in each Mortgage File of any of the Mortgage Loans
        identified on the Mortgage Loan Schedule, or (ii) the collectibility,
        insurability, effectiveness or suitability of any such Mortgage
        Loan.

       

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the Pooling and Servicing Agreement.

      

       

      DEUTSCHE
        BANK NATIONAL TRUST COMPANY, as Trustee

       

      By:
        __________________________________

      Name:
        ________________________________

      Title:
        _________________________________

       

      
        
          
          

        

        
          G-3-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        H

       

      FORM
        OF LOST NOTE AFFIDAVIT

       

      Personally
        appeared before me the undersigned authority to administer oaths,
        ______________________ who first being duly sworn deposes and says: Deponent
        is
        ______________________ of Greenwich Capital Financial Products, Inc. (the
        “Seller”) and who has personal knowledge of the facts set out in this
        affidavit.

       

      On
        ___________________, _________________________ did execute and deliver a
        promissory note in the principal amount of $__________.

       

      That
        said
        note has been misplaced or lost through causes unknown and is currently lost
        and
        unavailable after diligent search has been made. The Seller’s records show that
        an amount of principal and interest on said note is still presently outstanding,
        due, and unpaid, and such Seller is still owner and holder in due course
        of said
        lost note.

       

      The
        Seller executes this Affidavit for the purpose of inducing Deutsche Bank
        National Trust Company, as trustee on behalf of HarborView Mortgage Loan
        Trust
        2006-8, Mortgage Loan Pass-Through Certificates, Series 2006-8, to accept
        the
        transfer of the above described loan from the Seller.

       

      The
        Seller agrees to indemnify Deutsche Bank National Trust Company and Greenwich
        Capital Acceptance, Inc. and hold them harmless for any losses incurred by
        such
        parties resulting from the fact that the above described Note has been lost
        or
        misplaced.

      

      By: 
        __________________________________

      __________________________________

       

      
        	
                STATE
                  OF 

              	
                )

              	 
	 	
                )

              	
                ss:

              
	
                COUNTY
                  OF

              	
                )

              	 

      

      

      

      On
        this
        ____ day of ___________ 20__, before me, a Notary Public, in and for said
        County
        and State, appeared ________________________, who acknowledged the extension
        of
        the foregoing and who, having been duly sworn, states that any representations
        therein contained are true.

       

      Witness
        my hand and Notarial Seal this ____ day of _______ 20__.

       

      _______________________________

      _______________________________

       

      My
        commission expires _______________.

      

      
        
          
          

        

        
          H-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I-1

       

      FORM
        OF ERISA REPRESENTATION FOR RESIDUAL CERTIFICATE

      

       

      [Date]

      

      Greenwich
        Capital Acceptance, Inc.

      600
        Steamboat Road

      Greenwich,
        Connecticut 06830

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

       

      
        	 	
                Re:

                 

              	
                HarborView
                  Mortgage Loan Trust 2006-8 Mortgage Loan Pass-Through Certificates,
                  

                Series
                  2006-8, Class R Certificate

              

      

       

      Ladies
        and Gentlemen:

       

      1. The
        undersigned is the ______________________ of _________________ (the
“Transferee”), a [corporation duly organized] and existing under the laws of
        __________, on behalf of which she makes this affidavit.

       

      2.  The
        Transferee either (x) is not an employee benefit plan subject to Section
        406 of
        the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or a
        plan or arrangement subject to Section 4975 of the Internal Revenue Code
        of
        1986, as amended (the “Code”) (collectively, a “Plan”) nor a person acting on
        behalf of any such Plan nor using the assets of any such Plan to effect the
        transfer; (y) if the Certificate has been the subject of a best efforts or
        firm
        commitment underwriting or private placement that meets the requirements
        of
        Prohibited Transaction Exemption 2002-41, and is an insurance company which
        is
        purchasing such Certificates with funds contained in an “insurance company
        general account” (as such term is defined in Section V(e) of Prohibited
        Transaction Class Exemption 95-60 (“PTCE 95-60”) and that the purchase and
        holding of such Certificates are covered under Section I and III of PTCE
        95-60;
        or (z) shall deliver to the Certificate Registrar an opinion of counsel (a
        “Benefit Plan Opinion”) satisfactory to the Certificate Registrar, and upon
        which the Certificate Registrar shall be entitled to rely, to the effect
        that
        the purchase or holding of such Certificate by the Transferee will not result
        in
        a non-exempt prohibited transaction under Section 406 of ERISA or Section
        4975
        of the Code and will not subject the Trustee, the Certificate Registrar,
        the
        Servicer or the Depositor to any obligation in addition to those undertaken
        by
        such entities in the Pooling and Servicing Agreement, which opinion of counsel
        shall not be an expense of the Trustee, the Certificate Registrar the Depositor
        or the Trust Fund.

       

      
        
          
          

        

        
          I-1-1

          
            

          

        

        
          
          

        

      

      3. The
        Transferee hereby acknowledges that under the terms of the Pooling and Servicing
        Agreement dated as of August 1, 2006 (the “Agreement”) among Greenwich Capital
        Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
        as
        Seller, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator,
        Clayton Fixed Income Services, Inc., as Credit Risk Manager and Deutsche
        Bank
        National Trust Company, as Trustee and Custodian, no transfer of any
        ERISA-Restricted Certificate in the form of a Definitive Certificate shall
        be
        permitted to be made to any person unless the Depositor and the Certificate
        Registrar have received a certificate from such transferee in the form
        hereof.

       

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the Pooling and Servicing Agreement.

       

      IN
        WITNESS WHEREOF, the Transferee has executed this certificate.

       

      

       

      _________________________________

      [Transferee]

       

      By:______________________________

      Name:

      Title:

      

      
        
          
          

        

        
          I-1-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I-2

       

      FORM
        OF ERISA REPRESENTATION

      FOR
        ERISA RESTRICTED TRUST CERTIFICATES

       

      [Date]

      

      Greenwich
        Capital Acceptance, Inc.

      600
        Steamboat Road

      Greenwich,
        Connecticut 06830

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

      

       

      
        	 	
                Re:

                 

              	
                HarborView
                  Mortgage Loan Trust 2006-8, Mortgage Loan Pass-Through Certificates,
                  

                Series
                  2006-8, ERISA Restricted Trust
                  Certificates

              

      

       

      Ladies
        and Gentlemen:

       

      1. The
        undersigned is the ______________________ of _________________ (the
“Transferee”), a [corporation duly organized] and existing under the laws of
        __________, on behalf of which she makes this affidavit.

       

      2.  The
        Transferee either (x) is not an employee benefit plan subject to Section
        406 of
        the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or a
        plan or arrangement subject to Section 4975 of the Internal Revenue Code
        of
        1986, as amended (the “Code”) (collectively, a “Plan”) nor a person acting on
        behalf of any such Plan nor using the assets of any such Plan to effect the
        transfer; (y) if the Certificate has been the subject of a best efforts or
        firm
        commitment underwriting or private placement that meets the requirements
        of
        Prohibited Transaction Exemption 2002-41, and is an insurance company which
        is
        purchasing such Certificates with funds contained in an “insurance company
        general account” (as such term is defined in Section V(e) of Prohibited
        Transaction Class Exemption 95-60 (“PTCE 95-60”) and that the purchase and
        holding of such Certificates are covered under Section I and III of PTCE
        95-60;
        or (z) shall deliver to the Certificate Registrar an opinion of counsel (a
        “Benefit Plan Opinion”) satisfactory to the Certificate Registrar, and upon
        which the Certificate Registrar shall be entitled to rely, to the effect
        that
        the purchase or holding of such Certificate by the Transferee will not result
        in
        a non-exempt prohibited transaction under Section 406 of ERISA or Section
        4975
        of the Code and will not subject the Trustee, the Certificate Registrar,
        the
        Servicer or the Depositor to any obligation in addition to those undertaken
        by
        such entities in the Pooling and Servicing Agreement, which opinion of counsel
        shall not be an expense of the Trustee, the Certificate Registrar the Depositor
        or the Trust Fund.

       

      
        
          
          

        

        
          I-2-1

          
            

          

        

        
          
          

        

      

      3. The
        Transferee hereby acknowledges that under the terms of the Pooling and Servicing
        Agreement dated as of August 1, 2006 (the “Agreement”) among Greenwich Capital
        Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
        as
        Seller, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator,
        Clayton Fixed Income Services, Inc., as Credit Risk Manager and Deutsche
        Bank
        National Trust Company, as Trustee and Custodian, no transfer of any
        ERISA-Restricted Certificate in the form of a Definitive Certificate shall
        be
        permitted to be made to any person unless the Depositor and the Certificate
        Registrar have received a certificate from such transferee in the form
        hereof.

       

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the Pooling and Servicing Agreement.

       

      IN
        WITNESS WHEREOF, the Transferee has executed this certificate.

       

      

       

      _________________________________

      [Transferee]

       

      By:______________________________

      Name:

      Title:

      

      
        
          
          

        

        
          I-2-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        J-1

       

      FORM
        OF INVESTMENT LETTER [NON-RULE 144A]

       

      [date]

       

      

      Greenwich
        Capital Acceptance, Inc.

      600
        Steamboat Road

      Greenwich,
        Connecticut 06830

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

      

       

      
        	 	
                Re:

                 

              	
                HarborView
                  Mortgage Loan Trust 2006-8, Mortgage Loan Pass-Through Certificates,
                  

                Series
                  2006-8, Class
                  [C][P][R]  

              

      

       

      Ladies
        and Gentlemen:

       

      In
        connection with our acquisition the Class [C][P][R] Certificates (the
“Certificates”) of the above-captioned series, we certify that (a) we understand
        that the Certificates are not being registered under the Securities Act of
        1933,
        as amended (the “Act”), or any state securities laws and are being transferred
        to us in a transaction that is exempt from the registration requirements
        of the
        Act and any such laws, (b) we are an “accredited investor,” as defined in
        Regulation D under the Act, and have such knowledge and experience in financial
        and business matters that we are capable of evaluating the merits and risks
        of
        investments in the Certificates, (c) we have had the opportunity to ask
        questions of and receive answers from the Depositor concerning the purchase
        of
        the Certificates and all matters relating thereto or any additional information
        deemed necessary to our decision to purchase the Certificates, (d) we are
        acquiring the Certificates for investment for our own account and not with
        a
        view to any distribution of such Certificates (but without prejudice to our
        right at all times to sell or otherwise dispose of the Certificates in
        accordance with clause (f) below), (e) we have not offered or sold any
        Certificates to, or solicited offers to buy any Certificates from, any person,
        or otherwise approached or negotiated with any person with respect thereto,
        or
        taken any other action which would result in a violation of Section 5 of
        the
        Act, and (f) we will not sell, transfer or otherwise dispose of any Certificates
        unless (1) such sale, transfer or other disposition is made pursuant to an
        effective registration statement under the Act or is exempt from such
        registration requirements, and if requested, we will at our expense provide
        an
        opinion of counsel satisfactory to the addressees of this Certificate that
        such
        sale, transfer or other disposition may be made pursuant to an exemption
        from
        the Act, (2) the purchaser or transferee of such Certificate has executed
        and
        delivered to you a certificate to substantially the same effect as this
        certificate, and (3) the purchaser or transferee has otherwise complied with
        any
        conditions for transfer set forth in the Pooling and Servicing
        Agreement.

       

      
        
          
          

        

        
          J-1-1

          
            

          

        

        
          
          

        

      

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the Pooling and Servicing Agreement.

       

      Very
        truly yours,

       

      [NAME
        OF
        TRANSFEREE]

       

      By:
        ____________________

      Authorized
        Officer

       

      
        
          
          

        

        
          J-1-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        J-2

      

      FORM
        OF RULE 144A INVESTMENT LETTER

      

       

      [date]

       

      Greenwich
        Capital Acceptance, Inc.

      600
        Steamboat Road

      Greenwich,
        Connecticut 06830

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

      

       

      
        	 	
                Re:
                  

                 

              	
                HarborView
                  Mortgage Loan Trust 2006-8, Mortgage Loan Pass-Through Certificates,
                  

                Series
                  2006-8, Class [C][P][R]

              

      

       

      Ladies
        and Gentlemen:

       

      In
        connection with our acquisition of the Class [C][P][R] Certificates (the
        “Certificates”) of the above-captioned series, we certify that (a) we understand
        that the Certificates are not being registered under the Securities Act of
        1933,
        as amended (the “Act”), or any state securities laws and are being transferred
        to us in a transaction that is exempt from the registration requirements
        of the
        Act and any such laws, (b) we have had the opportunity to ask questions of
        and
        receive answers from the Depositor concerning the purchase of the Certificates
        and all matters relating thereto or any additional information deemed necessary
        to our decision to purchase the Certificates, (c) we have not, nor has anyone
        acting on our behalf offered, transferred, pledged, sold or otherwise disposed
        of the Certificates, any interest in the Certificates or any other similar
        security to, or solicited any offer to buy or accept a transfer, pledge or
        other
        disposition of the Certificates, any interest in the Certificates or any
        other
        similar security from, or otherwise approached or negotiated with respect
        to the
        Certificates, any interest in the Certificates or any other similar security
        with, any person in any manner, or made any general solicitation by means
        of
        general advertising or in any other manner, or taken any other action, that
        would constitute a distribution of the Certificates under the Securities
        Act or
        that would render the disposition of the Certificates a violation of Section
        5
        of the Securities Act or require registration pursuant thereto, nor will
        act,
        nor has authorized or will authorize any person to act, in such manner with
        respect to the Certificates, and (d) we are a “qualified institutional buyer” as
        that term is defined in Rule 144A under the Securities Act and have completed
        either of the forms of certification to that effect attached hereto as Annex
        1
        or Annex 2. We are aware that the sale to us is being made in reliance on
        Rule
        144A. We are acquiring the Certificates for our own account or for resale
        pursuant to Rule 144A and further, understand that such Certificates may
        be
        resold, pledged or transferred only (i) to a person reasonably believed to
        be a
        qualified institutional buyer that purchases for its own account or for the
        account of a qualified institutional buyer to whom notice is given that the
        resale, pledge or transfer is being made in reliance on Rule 144A, or (ii)
        pursuant to another exemption from registration under the Securities
        Act.

       

      
        
          
          

        

        
          J-2-1

          
            

          

        

        
          
          

        

      

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the Pooling and Servicing Agreement.

       

      Very
        truly yours,

       

      [NAME
        OF
        TRANSFEREE]

       

      

      By:
        ____________________

      Authorized
        Officer

       

      
        
          
          

        

        
          J-2-2

          
            

          

        

        
          
          

        

      

      ANNEX
        1 TO EXHIBIT J-2

       

      QUALIFIED
        INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

       

      [For
        Transferees Other Than Registered Investment Companies]

       

      The
        undersigned (the “Buyer”) hereby certifies as follows to the parties listed in
        the Rule 144A Transferee Certificate to which this certification relates
        with
        respect to the Certificates described therein:

       

      i. As
        indicated below, the undersigned is the President, Chief Financial Officer,
        Senior Vice President or other executive officer of the Buyer.

       

      ii. In
        connection with purchases by the Buyer, the Buyer is a “qualified institutional
        buyer” as that term is defined in Rule 144A under the Securities Act of 1933, as
        amended (“Rule 144A”) because (i) the Buyer owned and/or invested on a
        discretionary basis $            1 
        in
        securities (except for the excluded securities referred to below) as of the
        end
        of the Buyer’s most recent fiscal year (such amount being calculated in
        accordance with Rule 144A and (ii) the Buyer satisfies the criteria in the
        category marked below.

       

      ___ Corporation,
        etc.
        The
        Buyer is a corporation (other than a bank, savings and loan association or
        similar institution), Massachusetts or similar business trust, partnership,
        or
        charitable organization described in Section 501(c)(3) of the Internal Revenue
        Code of 1986, as amended.

       

      ___ Bank.
        The
        Buyer (a) is a national bank or banking institution organized under the laws
        of
        any State, territory or the District of Columbia, the business of which is
        substantially confined to banking and is supervised by the State or territorial
        banking commission or similar official or is a foreign bank or equivalent
        institution, and (b) has an audited net worth of at least $25,000,000 as
        demonstrated in its latest annual financial statements, a
        copy
        of which is attached hereto.

       

      ___ Savings
        and Loan.
        The
        Buyer (a) is a savings and loan association, building and loan association,
        cooperative bank, homestead association or similar institution, which is
        supervised and examined by a State or Federal authority having supervision
        over
        any such institutions or is a foreign savings and loan association or equivalent
        institution and (b) has an audited net worth of at least $25,000,000 as
        demonstrated in its latest annual financial statements, a
        copy
        of which is attached hereto.

       

      ___ Broker-dealer.
        The
        Buyer is a dealer registered pursuant to Section 15 of the Securities Exchange
        Act of 1934.

       

       

        
          

        

        
          
            	
                    1

                  	
                    Buyer
                      must own and/or invest on a discretionary basis at least $100,000,000
                      in
                      securities unless Buyer is a dealer, and, in that case, Buyer
                      must own
                      and/or invest on a discretionary basis at least $10,000,000
                      in
                      securities.

                  

          

           

        

      

      
        
          
          

        

        
          J-2-3

          
            

          

        

        
          
          

        

      

      ___ Insurance
        Company.
        The
        Buyer is an insurance company whose primary and predominant business activity
        is
        the writing of insurance or the reinsuring of risks underwritten by insurance
        companies and which is subject to supervision by the insurance commissioner
        or a
        similar official or agency of a State, territory or the District of
        Columbia.

       

      ___ State
        or Local Plan.
        The
        Buyer is a plan established and maintained by a State, its political
        subdivisions, or any agency or instrumentality of the State or its political
        subdivisions, for the benefit of its employees.

       

      ___ ERISA
        Plan.
        The
        Buyer is an employee benefit plan within the meaning of Title I of the Employee
        Retirement Income Security Act of 1974.

       

      ___ Investment
        Advisor.
        The
        Buyer is an investment advisor registered under the Investment Advisors Act
        of
        1940.

       

      ___ Small
        Business Investment Company.
        Buyer
        is a small business investment company licensed by the U.S. Small Business
        Administration under Section 301(c) or (d) of the Small Business Investment
        Act
        of 1958.

       

      ___ Business
        Development Company.
        Buyer
        is a business development company as defined in Section 202(a)(22) of the
        Investment Advisors Act of 1940.

       

      iii. The
        term
“securities”
as
        used
        herein does
        not include
        (i)
        securities of issuers that are affiliated with the Buyer, (ii) securities
        that
        are part of an unsold allotment to or subscription by the Buyer, if the Buyer
        is
        a dealer, (iii) securities issued or guaranteed by the U.S. or any
        instrumentality thereof, (iv) bank deposit notes and certificates of deposit,
        (v) loan participations, (vi) repurchase agreements, (vii) securities owned
        but
        subject to a repurchase agreement and (viii) currency, interest rate and
        commodity swaps.

       

      iv. For
        purposes of determining the aggregate amount of securities owned and/or invested
        on a discretionary basis by the Buyer, the Buyer used the cost of such
        securities to the Buyer and did not include any of the securities referred
        to in
        the preceding paragraph, except (i) where the Buyer reports its securities
        holdings in its financial statements on the basis of their market value,
        and
        (ii) no current information with respect to the cost of those securities
        has
        been published. If clause (ii) in the preceding sentence applies, the securities
        may be valued at market. Further, in determining such aggregate amount, the
        Buyer may have included securities owned by subsidiaries of the Buyer, but
        only
        if such subsidiaries are consolidated with the Buyer in its financial statements
        prepared in accordance with generally accepted accounting principles and
        if the
        investments of such subsidiaries are managed under the Buyer’s direction.
        However, such securities were not included if the Buyer is a majority-owned,
        consolidated subsidiary of another enterprise and the Buyer is not itself
        a
        reporting company under the Securities Exchange Act of 1934, as
        amended.

       

      v. The
        Buyer
        acknowledges that it is familiar with Rule 144A and understands that the
        seller
        to it and other parties related to the Certificates are relying and will
        continue to rely on the statements made herein because one or more sales
        to the
        Buyer may be in reliance on Rule 144A.

       

      
        
          
          

        

        
          J-2-4

          
            

          

        

        
          
          

        

      

      vi. Until
        the
        date of purchase of the Rule 144A Securities, the Buyer will notify each
        of the
        parties to which this certification is made of any changes in the information
        and conclusions herein. Until such notice is given, the Buyer’s purchase of the
        Certificates will constitute a reaffirmation of this certification as of
        the
        date of such purchase. In addition, if the Buyer is a bank or savings and
        loan
        is provided above, the Buyer agrees that it will furnish to such parties
        updated
        annual financial statements promptly after they become available.

       

      __________________________________

      Print
        Name of Buyer

       

      By:
        _______________________________

      Name:

      Title:

       

      Date:
        _____________________________

       

      
        
          
          

        

        
          J-2-5

          
            

          

        

        
          
          

        

      

      ANNEX
        2 TO EXHIBIT J-2

       

      QUALIFIED
        INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

       

      [For
        Transferees That are Registered Investment Companies]

       

      The
        undersigned (the “Buyer”) hereby certifies as follows to the parties listed in
        the Rule 144A Transferee Certificate to which this certification relates
        with
        respect to the Certificates described therein:

       

      1. As
        indicated below, the undersigned is the President, Chief Financial Officer
        or
        Senior Vice President of the Buyer or, if the Buyer is a “qualified
        institutional buyer” as that term is defined in Rule 144A under the Securities
        Act of 1933, as amended (“Rule 144A”) because Buyer is part of a Family of
        Investment Companies (as defined below), is such an officer of the
        Adviser.

       

      2. In
        connection with purchases by Buyer, the Buyer is a “qualified institutional
        buyer” as defined in SEC Rule 144A because (i) the Buyer is an investment
        company registered under the Investment Company Act of 1940, as amended and
        (ii)
        as marked below, the Buyer alone, or the Buyer’s Family of Investment Companies,
        owned at least $100,000,000 in securities (other than the excluded securities
        referred to below) as of the end of the Buyer’s most recent fiscal year. For
        purposes of determining the amount of securities owned by the Buyer or the
        Buyer’s Family of Investment Companies, the cost of such securities was used,
        except (i) where the Buyer or the Buyer’s Family of Investment Companies reports
        its securities holdings in its financial statements on the basis of their
        market
        value, and (ii) no current information with respect to the cost of those
        securities has been published. If clause (ii) in the preceding sentence applies,
        the securities may be valued at market.

       

      ___ The
        Buyer
        owned $            
        in
        securities (other than the excluded securities referred to below) as of the
        end
        of the Buyer’s most recent fiscal year (such amount being calculated in
        accordance with Rule 144A).

       

      ___ The
        Buyer
        is part of a Family of Investment Companies which owned in the aggregate
        $        
        in
        securities (other than the excluded securities referred to below) as of the
        end
        of the Buyer’s most recent fiscal year (such amount being calculated in
        accordance with Rule 144A).

       

      3. The
        term
“Family
        of Investment Companies”
as
        used
        herein means two or more registered investment companies (or series thereof)
        that have the same investment adviser or investment advisers that are affiliated
        (by virtue of being majority owned subsidiaries of the same parent or because
        one investment adviser is a majority owned subsidiary of the
        other).

       

      4. The
        term
“securities”
as
        used
        herein does not include (i) securities of issuers that are affiliated with
        the
        Buyer or are part of the Buyer’s Family of Investment Companies, (ii) securities
        issued or guaranteed by the U.S. or any instrumentality thereof, (iii) bank
        deposit notes and certificates of deposit, (iv) loan participations, (v)
        repurchase agreements, (vi) securities owned but subject to a repurchase
        agreement and (vii) currency, interest rate and commodity swaps.

       

      
        
          
          

        

        
          J-2-6

          
            

          

        

        
          
          

        

      

      5. The
        Buyer
        is familiar with Rule 144A and understands that the parties listed in the
        Rule
        144A Transferee Certificate to which this certification relates are relying
        and
        will continue to rely on the statements made herein because one or more sales
        to
        the Buyer will be in reliance on Rule 144A. In addition, the Buyer will only
        purchase for the Buyer’s own account.

       

      6. Until
        the
        date of purchase of the Certificates, the undersigned will notify the parties
        listed in the Rule 144A Transferee Certificate to which this certification
        relates of any changes in the information and conclusions herein. Until such
        notice is given, the Buyer’s purchase of the Certificates will constitute a
        reaffirmation of this certification by the undersigned as of the date of
        such
        purchase.

       

      
        __________________________________

        Print
          Name of Buyer or Adviser

         

        By:
          _______________________________

        Name:

        Title:

         

        IF
          AN ADVISER:

         

        
          __________________________________

          Print
            Name of Buyer

           

           

          Date:
            _____________________________

        

         

        
          
            
            

          

          
            J-2-7

            
              

            

          

          
            
            

          

        

      

      EXHIBIT
        K

       

      FORM
        OF TRANSFEROR CERTIFICATE

       

      [date]

       

      Wells
        Fargo Bank, N.A.

      Sixth
        Street and Marquette Avenue

      Minneapolis,
        Minnesota 55479

      

       

      
        	 	
                Re:
                  

                 

              	
                HarborView
                  Mortgage Loan Trust 2006-8 Mortgage Loan Pass-Through Certificates,
                  

                Series
                  2006-8, Class R

              

      

      

       

      Ladies
        and Gentlemen:

       

      In
        connection with our proposed transfer of an Ownership Interest in the Class
        R
        Certificate, we hereby certify that (a) we have no knowledge that the proposed
        Transferee is not a Permitted Transferee acquiring an Ownership Interest
        in such
        Class R Certificate for its own account and not in a capacity as trustee,
        nominee, or agent for another Person, and (b) we have not undertaken the
        proposed transfer in whole or in part to impede the assessment or collection
        of
        tax.

       

      Very
        truly yours,

       

      [_____________________]

       

      By:
        ______________________________

       

      
        
          
          

        

        
          K-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        L

       

      TRANSFER
        AFFIDAVIT FOR RESIDUAL CERTIFICATE

      PURSUANT
        TO SECTION 6.02(e)

       

      HARBORVIEW
        MORTGAGE LOAN TRUST 2006-8

      MORTGAGE
        LOAN PASS-THROUGH CERTIFICATES, SERIES 2006-8, 

      CLASS
        R

      

      
        	
                STATE
                  OF 

              	
                )

              	 
	 	
                )

              	
                ss:

              
	
                COUNTY
                  OF

              	
                )

              	 

      

      

      The
        undersigned, being first duly sworn, deposes and says as follows:

       

      
        	
                1.

              	
                The
                  undersigned is an officer of ______________________, the proposed
                  Transferee of a 100% Ownership Interest in the Class R Certificate
                  (the
                  “Certificate”) issued pursuant to the Pooling and Servicing Agreement,
                  (the “Agreement”) dated as of August 1, 2006, relating to the
                  above-referenced Certificates, among Greenwich Capital Acceptance,
                  Inc.,
                  as Depositor, Greenwich Capital Financial Products, Inc., as Seller,
                  Wells
                  Fargo Bank, N.A., as Master Servicer and Securities Administrator,
                  Clayton
                  Fixed Income Services, Inc., as Credit Risk Manager and Deutsche
                  Bank
                  National Trust Company, as Trustee and Custodian. Capitalized terms
                  used,
                  but not defined herein, shall have the meanings ascribed to such
                  terms in
                  the Agreement. The Transferee has authorized the undersigned to
                  make this
                  affidavit on behalf of the
                  Transferee.

              

      

       

      
        	
                2.

              	
                The
                  Transferee is, as of the date hereof, and will be, as of the date
                  of the
                  Transfer, a Permitted Transferee. The Transferee is acquiring its
                  Ownership Interest for its own account and not in a capacity as
                  trustee,
                  nominee or agent for another party.

              

      

       

      
        	
                3.

              	
                The
                  Transferee has been advised of, and understands that (i) a tax
                  will be
                  imposed on Transfers of the Certificate to Persons that are not
                  Permitted
                  Transferees; (ii) such tax will be imposed on the transferor, or,
                  if such
                  Transfer is through an agent (which includes a broker, nominee
                  or
                  middleman) for a Person that is not a Permitted Transferee, on
                  the agent;
                  and (iii) the Person otherwise liable for the tax shall be relieved
                  of
                  liability for the tax if the subsequent Transferee furnished to
                  such
                  Person an affidavit that such subsequent Transferee is a Permitted
                  Transferee and, at the time of Transfer, such Person does not have
                  actual
                  knowledge that the affidavit is false. The Transferee has provided
                  financial statements or other financial information requested by
                  the
                  Transferor in connection with the transfer of the Certificate to
                  permit
                  the Transferor to assess the financial capability of the Transferee
                  to pay
                  such taxes.

              

      

       

      
        	
                4.

              	
                The
                  Transferee has been advised of, and understands that a tax may
                  be imposed
                  on a “pass-through entity” holding the Certificate if, at any time during
                  the taxable year of the pass-through entity, a Disqualified Organization
                  is the record holder of an interest in such entity. The Transferee
                  understands that such tax will not be imposed for any period with
                  respect
                  to which the record holder furnishes to the pass-through entity
                  an
                  affidavit that such record holder is not a Disqualified Organization
                  and
                  the pass-through entity does not have actual knowledge that such
                  affidavit
                  is false. (For this purpose, a “pass-through entity” includes a regulated
                  investment company, a real estate investment trust or common trust
                  fund, a
                  partnership, trust or estate, and certain cooperatives and, except
                  as may
                  be provided in Treasury Regulations, persons holding interests
                  in
                  pass-through entities as a nominee for another
                  Person.)

              

      

       

      
        
          
          

        

        
          L-1

          
            

          

        

        
          
          

        

      

      
        	
                5.

              	
                The
                  Transferee has reviewed the provisions of Section 6.02(e) of the
                  Agreement
                  and understands the legal consequences of the acquisition of an
                  Ownership
                  Interest in the Certificate including, without limitation, the
                  restrictions on subsequent Transfers and the provisions regarding
                  voiding
                  the Transfer and mandatory sales. The Transferee expressly agrees
                  to be
                  bound by and to abide by the provisions of Section 6.02(e) of the
                  Agreement and the restrictions noted on the face of the Certificate.
                  The
                  Transferee understands and agrees that any breach of any of the
                  representations included herein shall render the Transfer to the
                  Transferee contemplated hereby null and
                  void.

              

      

       

      
        	
                6.

              	
                The
                  Transferee agrees to require a Transfer Affidavit from any Person
                  to whom
                  the Transferee attempts to Transfer its Ownership Interest in the
                  Certificate, and the Transferee will not Transfer its Ownership
                  Interest
                  or cause any Ownership Interest to be Transferred to any Person
                  that the
                  Transferee knows is not a Permitted Transferee. In connection with
                  any
                  such Transfer by the Transferee, the Transferee agrees to deliver
                  to the
                  Trustee a certificate substantially in the form set forth as Exhibit
                  K to
                  the Agreement (a “Transferor
                  Certificate”).

              

      

       

      
        	
                7.

              	
                The
                  Transferee does not have the intention to impede the assessment
                  or
                  collection of any tax legally required to be paid with respect
                  to the
                  Certificate.

              

      

       

      
        	8.	
                The
                  Transferee’s taxpayer identification number is             .

              

      

       

      
        	
                9.

              	
                The
                  Transferee is aware that the Certificate may be a “noneconomic residual
                  interest” within the meaning of the REMIC provisions and that the
                  transferor of a noneconomic residual interest will remain liable
                  for any
                  taxes due with respect to the income on such residual interest,
                  unless no
                  significant purpose of the transfer was to impede the assessment
                  or
                  collection of tax.

              

      

       

      
        
          
          

        

        
          L-2

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the Transferee has caused this instrument to be executed
        on its
        behalf, pursuant to authority of its Board of Directors, by its duly authorized
        officer and its corporate seal to be hereunto affixed, duly attested, this
            
        day
        of
                  ,
        20  .

       

      [NAME
        OF
        TRANSFEREE]

       

      By:
        _________________________

      Name:

      Title:

       

      [Corporate
        Seal]

       

      ATTEST:

       

      ___________________________

      [Assistant]
        Secretary

       

      Personally
        appeared before me the above-named             
         ,
        known
        or proved to me to be the same person who executed the foregoing instrument
        and
        to be the                     
        of the
        Transferee, and acknowledged that he executed the same as his free act and
        deed
        and the free act and deed of the Transferee.

       

      Subscribed
        and sworn before me this     
        day
        of
        
        ,
        20  .

       

      

      

      

           
              _________________                   

      NOTARY
        PUBLIC

       

      
        	 	 	 	 	 	 	 	
                My
                  Commission expires the     
                  day of                 ,
                  20  .

              

      

       

      
        
          
          

        

        
          L-3

          
            

          

        

        
          
          

        

      

      EXHIBIT
        M

       

      [RESERVED]

      

       

      

      
        
          
          

        

        
          M-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        N

       

      LIST
        OF SERVICERS AND SERVICING AGREEMENTS

       

      
        	 	
                1.

              	
                [TO
                  BE REVISED]

              

      

       

       

      

      
        
          
          

        

        
          N-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        O

       

      TRANSACTION
        PARTIES

       

      
        	
                Credit
                  Risk Manager

                 

              	
                Clayton
                  Fixed Income Services Inc.

                 

              
	
                Custodian

                 

              	
                Deutsche
                  Bank National Trust Company

                 

              
	
                Master
                  Servicer

                 

              	
                Wells
                  Fargo Bank, N.A.

                 

              
	
                Originators

                 

              	
                [TO
                  BE REVISED]

                 

              
	
                PMI
                  Insurer

                 

              	
                Mortgage
                  Guaranty Insurance Corporation

                 

              
	
                Securities
                  Administrator

                 

              	
                Wells
                  Fargo Bank, N.A.

                 

              
	
                Seller

                 

              	
                Greenwich
                  Capital Financial Products, Inc.

                 

              
	
                Servicers

                 

              	
                GMAC
                  Mortgage Corporation, IndyMac Bank, F.S.B., Paul Financial, LLC
                  and
                  Washington Mutual Bank

                 

              
	
                Subservicer

                 

              	
                N/A

                 

              
	
                Trustee

                 

              	
                Deutsche
                  Bank National Trust Company

                 

              
	
                Yield
                  Maintenance Provider

                 

              	
                N/A

                 

              

      

      

      
        
          
          

        

        
          O-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        P

       

      [RESERVED]

      

       

       

      
        
          
          

        

        
          P-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        Q

       

      SERVICING
        CRITERIA

       

      

      The
        assessment of compliance to be delivered by Wells Fargo Bank, N.A. (“Wells
        Fargo”), in its capacities as Master Servicer and Securities Administrator,
        shall address, at a minimum, the criteria identified as below as “Applicable
        Servicing Criteria:”

       

      
        	
                Servicing
                  Criteria

              	
                Applicable

                Servicing

                Criteria
                  for Wells Fargo

              
	
                Reference

              	
                Criteria

              	 
	 	
                General
                  Servicing Considerations

              	 
	 	 	 
	
                1122(d)(1)(i)

              	
                Policies
                  and procedures are instituted to monitor any performance or other
                  triggers
                  and events of default in accordance with the transaction
                  agreements.

              	
                X

              
	
                1122(d)(1)(ii)

              	
                If
                  any material servicing activities are outsourced to third parties,
                  policies and procedures are instituted to monitor the third party’s
                  performance and compliance with such servicing activities.

              	
                X

              
	
                1122(d)(1)(iii)

              	
                Any
                  requirements in the transaction agreements to maintain a back-up
                  servicer
                  for the mortgage loans are maintained.

              	 
	
                1122(d)(1)(iv)

              	
                A
                  fidelity bond and errors and omissions policy is in effect on the
                  party
                  participating in the servicing function throughout the reporting
                  period in
                  the amount of coverage required by and otherwise in accordance
                  with the
                  terms of the transaction agreements.

              	 
	 	
                Cash
                  Collection and Administration

              	 
	
                1122(d)(2)(i)

              	
                Payments
                  on mortgage loans are deposited into the appropriate custodial
                  bank
                  accounts and related bank clearing accounts no more than two business
                  days
                  following receipt, or such other number of days specified in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(2)(ii)

              	
                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel.

              	
                X

              
	
                1122(d)(2)(iii)

              	
                Advances
                  of funds or guarantees regarding collections, cash flows or distributions,
                  and any interest or other fees charged for such advances, are made,
                  reviewed and approved as specified in the transaction
                  agreements.

              	
                X

              
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of overcollateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(2)(v)

              	
                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial institution
                  that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.

              	
                X

              

      

       

      
        
          
          

        

        
          Q-1

          
            

          

        

        
          
          

        

      

      
         

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Servicing

                  Criteria
                    for Wells Fargo

                
	
                  Reference

                	
                  Criteria

                	 

        

      

      
        	
                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 30 calendar days after the bank statement cutoff
                  date, or
                  such other number of days specified in the transaction agreements;
                  (C)
                  reviewed and approved by someone other than the person who prepared
                  the
                  reconciliation; and (D) contain explanations for reconciling items.
                  These
                  reconciling items are resolved within 90 calendar days of their
                  original
                  identification, or such other number of days specified in the transaction
                  agreements.

              	
                X

              
	 	
                Investor
                  Remittances and Reporting

              	 
	
                1122(d)(3)(i)

              	
                Reports
                  to investors, including those to be filed with the Commission,
                  are
                  maintained in accordance with the transaction agreements and applicable
                  Commission requirements. Specifically, such reports (A) are prepared
                  in
                  accordance with timeframes and other terms set forth in the transaction
                  agreements; (B) provide information calculated in accordance with
                  the
                  terms specified in the transaction agreements; (C) are filed with
                  the
                  Commission as required by its rules and regulations; and (D) agree
                  with
                  investors’ or the trustee’s records as to the total unpaid principal
                  balance and number of mortgage loans serviced by the
                  Servicer.

              	
                X

              
	
                1122(d)(3)(ii)

              	
                Amounts
                  due to investors are allocated and remitted in accordance with
                  timeframes,
                  distribution priority and other terms set forth in the transaction
                  agreements.

              	
                X

              
	
                1122(d)(3)(iii)

              	
                Disbursements
                  made to an investor are posted within two business days to the
                  Servicer’s
                  investor records, or such other number of days specified in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(3)(iv)

              	
                Amounts
                  remitted to investors per the investor reports agree with cancelled
                  checks, or other form of payment, or custodial bank
                  statements.

              	
                X

              
	 	
                Pool
                  Asset Administration

              	 
	
                1122(d)(4)(i)

              	
                Collateral
                  or security on mortgage loans is maintained as required by the
                  transaction
                  agreements or related mortgage loan documents.

              	
                 

              
	
                1122(d)(4)(ii)

              	
                Mortgage
                  loan and related documents are safeguarded as required by the transaction
                  agreements.

              	
                 

              
	
                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.

              	 

      

      
         

        
          
            
            

          

          
            Q-2

            
              

            

          

          
            
            

          

        

         

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Servicing

                  Criteria
                    for Wells Fargo

                
	
                  Reference

                	
                  Criteria

                	 

        

      

      
        	
                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.

              	
                X

              
	 	 	 

      

       

      
        
          
          

        

        
          Q-3

          
            

          

        

        
          
          

        

      

      The
        assessment of compliance to be delivered by Deutsche Bank National Trust
        Company
        (“Deutsche Bank”), in its capacity as Custodian, shall address, at a minimum,
        the criteria identified as below as “Applicable Servicing
        Criteria”:

       

      
        	
                Servicing
                  Criteria

              	
                Applicable

                Servicing

                Criteria
                  for Deutsche Bank

              
	
                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.

              	 

      

       

      
        
          
          

        

        
          Q-4

          
            

          

        

        
          
          

        

      

      
         

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Servicing

                  Criteria
                    for Deutsche Bank

                
	
                  Reference

                	
                  Criteria

                	 

        

      

      
        	 	
                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.

              	
                X

              
	
                1122(d)(4)(ii)

              	
                Mortgage
                  loan 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

              
	
                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.

              	 

      

       

      
        
          
          

        

        
          Q-5

          
            

          

        

        
          
          

        

      

      
         

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Servicing

                  Criteria
                    for Deutsche Bank

                
	
                  Reference

                	
                  Criteria

                	 

        

      

      
        	
                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.

              	 

      

      

      
        
          
          

        

        
          Q-6

          
            

          

        

        
          
          

        

      

      EXHIBIT
        R

       

      ADDITIONAL
        FORM 10-D DISCLOSURE

      

      
        	
                ADDITIONAL
                  FORM 10-D DISCLOSURE

              
	
                Item
                  on Form 10-D

              	
                Party
                  Responsible 

              
	
                Item
                  1: Distribution and Pool Performance Information

                 

              	 
	
                Information
                  included in the [Monthly Statement]

              	
                Servicer

                Master
                  Servicer

                Securities
                  Administrator

              
	
                Any
                  information required by 1121 which is NOT included on the [Monthly
                  Statement]

              	
                Depositor

              
	
                Item
                  2: Legal Proceedings

                 

                Any
                  legal proceeding pending against the following entities or their
                  respective property, that is material to Certificateholders, including
                  any
                  proceeding sknown to be contemplated by governmental
                  authorities:

              	 
	
                ▪ 
                  Issuing Entity (Trust Fund)

              	
                Trustee,
                  Master Servicer, Securities Administrator and Depositor

              
	
                ▪ 
                  Sponsor (Seller)

              	
                Seller
                  (if a party to the Pooling and Servicing Agreement) or
                  Depositor

              
	
                ▪ 
                  Depositor

              	
                Depositor

              
	
                ▪ 
                  Trustee

              	
                Trustee

              
	
                ▪ 
                  Securities Administrator

              	
                Securities
                  Administrator

              
	
                ▪ 
                  Master Servicer

              	
                Master
                  Servicer

              
	
                ▪ 
                  Custodian

              	
                Custodian

              
	
                ▪ 
                  1110(b) Originator

              	
                Depositor

              
	
                ▪ 
                  Any 1108(a)(2) Servicer (other than the Master Servicer or Securities
                  Administrator)

              	
                Servicer

              
	
                ▪ 
                  Any other party contemplated by 1100(d)(1)

              	
                Depositor

              
	
                Item
                  3: Sale of Securities and Use of Proceeds

                Information
                  from Item 2(a) of Part II of Form 10-Q:

                 

                With
                  respect to any sale of securities by the sponsor, depositor or
                  issuing
                  entity, that are backed by the same asset pool or are otherwise
                  issued by
                  the issuing entity, whether or not registered, provide the sales
                  and use
                  of proceeds information in Item 701 of Regulation S-K. Pricing
                  information
                  can be omitted if securities were not registered.

              	
                Depositor

              

      

       

      
        
          
          

        

        
          R-1

          
            

          

        

        
          
          

        

      

      
        	
                ADDITIONAL
                  FORM 10-D DISCLOSURE

              
	
                Item
                  on Form 10-D

              	
                Party
                  Responsible 

              

      

      
        	
                Item
                  4: Defaults Upon Senior Securities

                 

                Information
                  from Item 3 of Part II of Form 10-Q:

                 

                Report
                  the occurrence of any Event of Default (after expiration of any
                  grace
                  period and provision of any required notice)

              	
                Securities
                  Administrator

                Trustee

              
	
                Item
                  5: Submission of Matters to a Vote of Security
                  Holders

                 

                Information
                  from Item 4 of Part II of Form 10-Q

              	
                Securities
                  Administrator

                Trustee

              
	
                Item
                  6: Significant Obligors of Pool Assets

                 

                Item
                  1112(b) - Significant
                  Obligor Financial Information*

              	
                Depositor

              
	
                *This
                  information need only be reported on the Form 10-D for the distribution
                  period in which updated information is required pursuant to the
                  Item.

              	 
	
                Item
                  7: Significant Enhancement Provider Information

                 

                Item
                  1114(b)(2) - Credit Enhancement Provider Financial
                  Information*

              	 
	
                ▪
                  Determining applicable disclosure threshold

              	
                Depositor

              
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	
                Depositor

              
	
                Item
                  1115(b) - Derivative Counterparty Financial
                  Information*

              	 
	
                ▪
                  Determining current maximum probable exposure

              	
                Depositor

              
	
                ▪
                  Determining current significance percentage

              	
                Depositor

              
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	
                Depositor

              
	
                *This
                  information need only be reported on the Form 10-D for the distribution
                  period in which updated information is required pursuant to the
                  Items.

              	 

      

       

      
        
          
          

        

        
          R-2

          
            

          

        

        
          
          

        

      

      
        	
                ADDITIONAL
                  FORM 10-D DISCLOSURE

              
	
                Item
                  on Form 10-D

              	
                Party
                  Responsible 

              

      

      
        	
                Item
                  8: Other Information

                 

                Disclose
                  any information required to be reported on Form 8-K during the
                  period
                  covered by the Form 10-D but not reported

              	
                Any
                  party responsible for the applicable Form 8-K Disclosure
                  item

              
	
                Item
                  9: Exhibits

              	 
	
                Monthly
                  Statement to Certificateholders

              	
                Securities
                  Administrator

              
	
                Exhibits
                  required by Item 601 of Regulation S-K, such as material
                  agreements

              	
                Depositor

              

      

      

      
        
          
          

        

        
          R-3

          
            

          

        

        
          
          

        

      

      EXHIBIT
        S

       

      ADDITIONAL
        FORM 10-K DISCLOSURE

       

      
        	
                ADDITIONAL
                  FORM 10-K DISCLOSURE

              
	
                Item
                  on Form 10-K

              	
                Party
                  Responsible 

              
	
                Item
                  1B: Unresolved Staff Comments

                 

              	
                Depositor

              
	
                Item
                  9B: Other Information

                Disclose
                  any information required to be reported on Form 8-K during the
                  fourth
                  quarter covered by the Form 10-K but not reported

              	
                Any
                  party responsible for disclosure items on Form 8-K

              
	
                Item
                  15: Exhibits, Financial Statement Schedules

              	
                Securities
                  Administrator

                Depositor

              
	
                Reg
                  AB Item 1112(b): Significant Obligors of Pool
                  Assets

              	 
	
                Significant
                  Obligor Financial Information*

              	
                Depositor

              
	
                *This
                  information need only be reported on the Form 10-D for the distribution
                  period in which updated information is required pursuant to the
                  Item.

              	 
	
                Reg
                  AB Item 1114(b)(2): Credit Enhancement Provider Financial
                  Information

              	 
	
                ▪
                  Determining applicable disclosure threshold

              	
                Depositor

              
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	
                Depositor

              
	
                *This
                  information need only be reported on the Form 10-D for the distribution
                  period in which updated information is required pursuant to the
                  Items.

              	 
	
                Reg
                  AB Item 1115(b): Derivative Counterparty Financial
                  Information

              	 
	
                ▪
                  Determining current maximum probable exposure

              	
                Depositor

              
	
                ▪
                  Determining current significance percentage

              	
                Depositor

              
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	
                Depositor

              
	
                *This
                  information need only be reported on the Form 10-D for the distribution
                  period in which updated information is required pursuant to the
                  Items.

              	 

      

       

      
        
          
          

        

        
          S-1

          
            

          

        

        
          
          

        

      

      
        	
                ADDITIONAL
                  FORM 10-K DISCLOSURE

              
	
                Item
                  on Form 10-K

              	
                Party
                  Responsible 

              

      

      
        	
                Reg
                  AB Item 1117: Legal Proceedings

                 

                Any
                  legal proceeding pending against the following entities or their
                  respective property, that is material to Certificateholders, including
                  any
                  proceeding sknown to be contemplated by governmental
                  authorities:

              	 
	
                ▪
                  Issuing Entity (Trust Fund)

              	
                Trustee,
                  Master Servicer, Securities Administrator and Depositor

              
	
                ▪
                  Sponsor (Seller)

              	
                Seller
                  (if a party to the Pooling and Servicing Agreement) or
                  Depositor

              
	
                ▪
                  Depositor

              	
                Depositor

              
	
                ▪
                  Trustee

              	
                Trustee

              
	
                ▪
                  Securities Administrator

              	
                Securities
                  Administrator

              
	
                ▪
                  Master Servicer

              	
                Master
                  Servicer

              
	
                ▪
                  Custodian

              	
                Custodian

              
	
                ▪
                  1110(b) Originator

              	
                Depositor

              
	
                ▪
                  Any 1108(a)(2) Servicer (other than the Master Servicer or Securities
                  Administrator)

              	
                Servicer

              
	
                ▪
                  Any other party contemplated by 1100(d)(1)

              	
                Depositor

              
	
                Reg
                  AB Item 1119: Affiliations and Relationships

              	 
	
                Whether
                  (a) the Sponsor (Seller), Depositor or Issuing Entity is an affiliate
                  of
                  the following parties, and (b) to the extent known and material,
                  any of
                  the following parties are affiliated with one another:

              	
                Depositor
                  as to (a) 

                Sponsor/Seller
                  as to (a)

              
	
                ▪
                  Master Servicer

              	
                Master
                  Servicer 

              
	
                ▪
                  Securities Administrator

              	
                Securities
                  Administrator

              
	
                ▪
                  Trustee

              	
                Trustee

              
	
                ▪
                  Any other 1108(a)(3) servicer

              	
                Servicer

              
	
                ▪
                  Any 1110 Originator

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1112(b) Significant Obligor

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1114 Credit Enhancement Provider

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1115 Derivate Counterparty Provider

              	
                Depositor/Sponsor

              
	
                ▪
                  Any other 1101(d)(1) material party

              	
                Depositor/Sponsor

              
	
                Whether
                  there are any “outside the ordinary course business arrangements” other
                  than would be obtained in an arm’s length transaction between (a) the
                  Sponsor (Seller), Depositor or Issuing Entity on the one hand,
                  and (b) any
                  of the following parties (or their affiliates) on the other hand,
                  that
                  exist currently or within the past two years and that are material
                  to a
                  Certificateholder’s understanding of the Certificates:

              	
                Depositor
                  as to (a) 

                Sponsor/Seller
                  as to (a)

              

      

       

      
        
          
          

        

        
          S-2

          
            

          

        

        
          
          

        

      

      
        	
                ADDITIONAL
                  FORM 10-K DISCLOSURE

              
	
                Item
                  on Form 10-K

              	
                Party
                  Responsible 

              

      

      
        	
                ▪
                  Master Servicer

              	
                Master
                  Servicer 

              
	
                ▪
                  Securities Administrator

              	
                Securities
                  Administrator

              
	
                ▪
                  Trustee

              	
                Trustee

              
	
                ▪
                  Any other 1108(a)(3) servicer

              	
                Servicer

              
	
                ▪
                  Any 1110 Originator

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1112(b) Significant Obligor

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1114 Credit Enhancement Provider

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1115 Derivate Counterparty Provider

              	
                Depositor/Sponsor

              
	
                ▪
                  Any other 1101(d)(1) material party

              	
                Depositor/Sponsor

              
	
                Whether
                  there are any specific relationships involving the transaction
                  or the pool
                  assets between (a) the Sponsor (Seller), Depositor or Issuing Entity
                  on
                  the one hand, and (b) any of the following parties (or their affiliates)
                  on the other hand, that exist currently or within the past two
                  years and
                  that are material:

              	
                Depositor
                  as to (a) 

                Sponsor/Seller
                  as to (a)

              
	
                ▪
                  Master Servicer

              	
                Master
                  Servicer 

              
	
                ▪
                  Securities Administrator

              	
                Securities
                  Administrator

              
	
                ▪
                  Trustee

              	
                Trustee

              
	
                ▪
                  Any other 1108(a)(3) servicer

              	
                Servicer

              
	
                ▪
                  Any 1110 Originator

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1112(b) Significant Obligor

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1114 Credit Enhancement Provider

              	
                Depositor/Sponsor

              
	
                ▪
                  Any 1115 Derivate Counterparty Provider

              	
                Depositor/Sponsor

              
	
                ▪
                  Any other 1101(d)(1) material party

              	
                Depositor/Sponsor

              

      

      

      
        
          
          

        

        
          S-3

          
            

          

        

        
          
          

        

      

      EXHIBIT
        T

       

      ADDITIONAL
        FORM 8-K DISCLOSURE

      

      
        	
                FORM
                  8-K DISCLOSURE INFORMATION

              
	
                Item
                  on Form 8-K

              	
                Party
                  Responsible 

              
	
                Item
                  1.01- Entry into a Material Definitive Agreement

                 

                Disclosure
                  is required regarding entry into or amendment of any definitive
                  agreement
                  that is material to the securitization, even if depositor is not
                  a party.
                  

                 

                Examples:
                  servicing agreement, custodial agreement.

                 

                Note:
                  disclosure not required as to definitive agreements that are fully
                  disclosed in the prospectus

              	
                All
                  parties

              
	
                Item
                  1.02- Termination of a Material Definitive Agreement

                 

                Disclosure
                  is required regarding termination of any definitive agreement that
                  is
                  material to the securitization (other than expiration in accordance
                  with
                  its terms), even if depositor is not a party. 

                 

                Examples:
                  servicing agreement, custodial agreement.

              	
                All
                  parties

              
	
                Item
                  1.03- Bankruptcy or Receivership

                 

                Disclosure
                  is required regarding the bankruptcy or receivership, with respect
                  to any
                  of the following: 

              	
                Depositor

              
	
                ▪
                  Sponsor (Seller)

              	
                Depositor/Sponsor
                  (Seller)

              
	
                ▪
                  Depositor

              	
                Depositor

              
	
                ▪
                  Master Servicer

              	
                Master
                  Servicer

              
	
                ▪
                  Affiliated Servicer

              	
                Servicer

              
	
                ▪
                  Other Servicer servicing 20% or more of the pool assets at the
                  time of the
                  report

              	
                Servicer

              
	
                ▪
                  Other material servicers

              	
                Servicer

              
	
                ▪
                  Trustee

              	
                Trustee

              
	
                ▪
                  Securities Administrator

              	
                Securities
                  Administrator

              
	
                ▪
                  Significant Obligor

              	
                Depositor

              
	
                ▪
                  Credit Enhancer (10% or more)

              	
                Depositor

              
	
                ▪
                  Derivative Counterparty

              	
                Depositor

              
	
                ▪
                  Custodian

              	
                Custodian

              

      

       

      
        
          
          

        

        
          T-1

          
            

          

        

        
          
          

        

      

      
        	
                FORM
                  8-K DISCLOSURE INFORMATION

              
	
                Item
                  on Form 8-K

              	
                Party
                  Responsible 

              

      

      
        	
                Item
                  2.04- Triggering Events that Accelerate or Increase a Direct Financial
                  Obligation or an Obligation under an Off-Balance Sheet
                  Arrangement

                 

                Includes
                  an early amortization, performance trigger or other event, including
                  event
                  of default, that would materially alter the payment priority/distribution
                  of cash flows/amortization schedule.

                 

                Disclosure
                  will be made of events other than waterfall triggers which are
                  disclosed
                  in the monthly statements to the certificateholders.

              	
                Depositor

                Master
                  Servicer

                Securities
                  Administrator

              
	
                Item
                  3.03- Material Modification to Rights of Security
                  Holders

                 

                Disclosure
                  is required of any material modification to documents defining
                  the rights
                  of Certificateholders, including the Pooling and Servicing
                  Agreement.

              	
                Securities
                  Administrator

                Trustee

                Depositor

              
	
                Item
                  5.03- Amendments of Articles of Incorporation or Bylaws; Change
                  of Fiscal
                  Year

                Disclosure
                  is required of any amendment “to the governing documents of the issuing
                  entity”.

              	
                Depositor

              
	
                Item
                  6.01- ABS Informational and Computational
                  Material

              	
                Depositor

              
	
                Item
                  6.02- Change of Servicer or Securities Administrator

                 

                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.

              	
                Master
                  Servicer/Securities Administrator/Depositor/

                Servicer/Trustee

              
	
                Reg
                  AB disclosure about any new servicer or master servicer is also
                  required.

              	
                Servicer/Master
                  Servicer/Depositor

              
	
                Reg
                  AB disclosure about any new Trustee is also required.

              	
                Trustee

              

      

       

      
        
          
          

        

        
          T-2

          
            

          

        

        
          
          

        

      

      
        	
                FORM
                  8-K DISCLOSURE INFORMATION

              
	
                Item
                  on Form 8-K

              	
                Party
                  Responsible 

              

      

      
        	
                Item
                  6.03- Change in Credit Enhancement or External
                  Support

                Covers
                  termination of any enhancement in manner other than by its terms,
                  the
                  addition of an enhancement, or a material change in the enhancement
                  provided. Applies to external credit enhancements as well as derivatives.
                  

              	
                Depositor/Securities
                  Administrator/Trustee

              
	
                Reg
                  AB disclosure about any new enhancement provider is also
                  required.

              	
                Depositor

              
	
                Item
                  6.04- Failure to Make a Required Distribution

              	
                Securities
                  Administrator

                Trustee

              
	
                Item
                  6.05- Securities Act Updating Disclosure

                 

                If
                  any material pool characteristic differs by 5% or more at the time
                  of
                  issuance of the securities from the description in the final prospectus,
                  provide updated Reg AB disclosure about the actual asset
                  pool.

              	
                Depositor

              
	
                If
                  there are any new servicers or originators required to be disclosed
                  under
                  Regulation AB as a result of the foregoing, provide the information
                  called
                  for in Items 1108 and 1110 respectively.

              	
                Depositor

              
	
                Item
                  7.01- Reg FD Disclosure

              	
                All
                  parties

              
	
                Item
                  8.01- Other Events

                 

                Any
                  event, with respect to which information is not otherwise called
                  for in
                  Form 8-K, that the registrant deems of importance to
                  certificateholders.

              	
                Depositor

              
	
                Item
                  9.01- Financial Statements and Exhibits

              	
                Responsible
                  party for reporting/disclosing the financial statement or
                  exhibit

              

      

      

      
        
          
          

        

        
          T-3

          
            

          

        

        
          
          

        

      

      EXHIBIT
        U

       

      ADDITIONAL
        DISCLOSURE NOTIFICATION

       

      Wells
        Fargo Bank, N.A. as Securities Administrator 

      Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Fax:
        (410) 715-2380

      E-mail:
        cts.sec.notifications@wellsfargo.com

       

      Attn:
        Corporate Trust Services - HARBORVIEW MORTGAGE LOAN TRUST 2006-8-SEC REPORT
        PROCESSING

       

      
        	
                RE:

                 

              	
                **Additional
                  Form [   ] Disclosure**Required

                 

              

      

      

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 3.19(a)(ii) of the Pooling and Servicing Agreement
        dated
        as of August 1, 2006, among Greenwich Capital Acceptance, Inc., as Depositor,
        Greenwich Capital Financial Products, Inc., as Seller, Wells Fargo Bank,
        N.A.,
        as Master Servicer and Securities Administrator, Clayton Fixed Income Services,
        Inc., as Credit Risk Manager and Deutsche Bank National Trust Company, as
        Trustee and Custodian, the undersigned, as [ ], hereby notifies you that
        certain
        events have come to our attention that [will][may] need to be disclosed on
        Form
        [ ].

       

      Description
        of Additional Form [   ] Disclosure:

       

      

       

       

       

      List
        of
        Any Attachments hereto to be included in the Additional Form [   ]
        Disclosure:

      

       

      Any
        inquiries related to this notification should be directed to [   ],
        phone number: [   ]; email address: [   ].

       

      [NAME
        OF
        PARTY]

      as
        [role]

      

       

      By:
        ________________________________

      Name:

      Title:

       

      
        
          
          

        

        
          U-1

          
            

          

        

        
          
          

        

      

      SCHEDULE
        I

       

      MORTGAGE
        LOAN SCHEDULE

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