Document:

Registration Rights Agreement

    

    

    

    Exhibit
      10.2

    

    

    REGISTRATION
      RIGHTS AGREEMENT

    

    

    between

    

    

    Seneca
      Foods Corporation

    

    

    and

    

    

    John
      Hancock Life Insurance Company

    

    and

    

    John
      Hancock Variable Life Insurance Company

    

    

    

    

    

    Dated
      as
      of August 18, 2006

    

    

    

    

    

    
      
        
          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    

      TABLE
        OF
        CONTENTS

      
        	 	 	
                Page

              
	
                1.

              	
                Background.

              	
                1

              
	
                2.

              	
                Registration
                  Under Securities Act, etc.

              	
                1

              
	
                2.1

              	
                Registration
                  on Request.

              	
                1

              
	
                2.2

              	
                Incidental
                  Registration.

              	
                3

              
	
                2.3

              	
                Registration
                  Procedures.

              	
                4

              
	
                2.4

              	
                Underwritten
                  Offerings.

              	
                7

              
	
                2.5

              	
                Preparation;
                  Reasonable Investigation.

              	
                8

              
	
                2.6

              	
                Limitations,
                  Conditions and Qualifications to Obligations under Registration
                  Covenants.

              	
                8

              
	
                2.7

              	
                Indemnification.

              	
                9

              
	
                3.

              	
                Definitions.

              	
                11

              
	
                4.

              	
                Rule
                  144.

              	
                13

              
	
                5.

              	
                Amendments
                  and Waivers.

              	
                14

              
	
                6.

              	
                Nominees
                  for Beneficial Owners.

              	
                14

              
	
                7.

              	
                Notices.

              	
                14

              
	
                8.

              	
                Assignment.

              	
                15

              
	
                9.

              	
                Calculation
                  of Percentage Interests in Registrable Securities.

              	
                15

              
	
                10.

              	
                No
                  Inconsistent Agreements.

              	
                15

              
	
                11.

              	
                Remedies.

              	
                15

              
	
                12.

              	
                Severability.

              	
                15

              
	
                13.

              	
                Entire
                  Agreement.

              	
                15

              
	
                14.

              	
                Headings.

              	
                16

              
	
                15.

              	
                Governing
                  Law.

              	
                16

              
	
                16.

              	
                Counterparts.

              	
                16

              

      

      

    

    

    
      
        
          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    REGISTRATION
      RIGHTS AGREEMENT, dated as of August 18, 2006 between Seneca Foods Corporation,
      a New York corporation (the “Company”), and John Hancock Life Insurance Company,
      a Massachusetts corporation (“JHLIC”) and John Hancock Variable Life Insurance
      Company, a Massachusetts corporation (“JHVLIC” and collectively with JHLIC,
“Hancock”).

     

    The
      parties hereby agree as follows:

     

    1.  Background.

     

    The
      Company and Hancock are the parties to the Purchase Agreement dated as of August
      18, 2006 (the “Purchase Agreement”), pursuant to which Hancock is receiving on
      the date hereof 1,025,220 shares of Convertible Participating Preferred Stock,
      Series 2006 of the Company (the “Shares”). 

     

    2.  Registration
      Under Securities Act, etc. 

     

    2.1  Registration
      on Request. 

     

    (a)  Request.

     

    At
      any
      time after February 18, 2007, upon the written request of one or more holders
      (the “Initiating Holders”) of Registrable Securities holding at least 25% of the
      Registrable Securities (assuming the conversion of the Shares into Class A
      Common Stock) that the Company effect the registration under the Securities
      Act
      of all or part of such Initiating Holders*
      Registrable Securities, the Company promptly will give written notice of such
      requested registration to all registered holders of Registrable Securities,
      and
      thereupon the Company will use its best efforts to effect, at the earliest
      possible date, the registration under the Securities Act, of

     

    (i)  the
      Registrable Securities which the Company has been so requested to register
      by
      such Initiating Holders, and

     

    (ii)  all
      other
      Registrable Securities which the Company has been requested to register by
      the
      holders thereof (such holders together with the Initiating Holders hereinafter
      are referred to as the “Selling Holders”) by written request given to the
      Company within 30 days after the giving of such written notice by the Company,
      all to the extent necessary to permit the disposition of the Registrable
      Securities so to be registered.

     

    (b)  Registration
      of Other Securities.

     

    Whenever
      the Company shall effect a registration pursuant to this Section 2.1, no
      securities other than Registrable Securities shall be included among the
      securities covered by such registration unless the Selling Holders of not less
      than 66-2/3% of all Registrable Securities (assuming the conversion of the
      Shares into Class A Common Stock) to be covered by such registration shall
      have
      consented in writing to the inclusion of such other securities.

     

    (c)  Registration
      Statement Form.

     

    Registrations
      under this Section 2.1 shall be on such appropriate registration form of the
      Commission as shall be reasonably selected by the Company; provided that, upon
      the request of the Selling Holders, the Company shall effect such registration
      pursuant to Rule 415 under the Securities Act.

     

    (d)  Effective
      Registration Statement.

     

    A
      registration requested pursuant to this Section 2.1 shall not be deemed to
      have
      been effected (i) unless a registration statement with respect thereto has
      become effective and remained effective in compliance with the provisions of
      the
      Securities Act with respect to the disposition of all Registrable Securities
      covered by such registration statement until such time as all of such
      Registrable Securities have been disposed of in accordance with the intended
      methods of disposition by the seller or sellers thereof set forth in such
      registration statement (unless the failure to so dispose of such Registrable
      Securities shall be caused solely by reason of a failure on the part of the
      Selling Holders); provided, that such period, except with respect to a
      registration pursuant to Rule 415 under the Act, need not exceed 135 days,
      (ii)
      if, after it has become effective, such registration is interfered with by
      any
      stop order, injunction or other order or requirement of the Commission or other
      governmental agency or court for any reason not attributable solely to the
      Selling Holders, or (iii) if the conditions to closing specified in the
      underwriting agreement, if any, entered into in connection with such
      registration are not satisfied or waived, other than solely by reason of a
      failure on the part of the Selling Holders.

     

    (e)  Selection
      of Underwriters. 

     

    The
      underwriter or underwriters of each underwritten offering of the Registrable
      Securities so to be registered shall be selected by the Selling Holders of
      more
      than 50% of the Registrable Securities (assuming the conversion of the Shares
      into Class A Common Stock) to be included in such registration and shall be
      reasonably acceptable to the Company.

     

    (f)  Priority
      in Requested Registration.

     

    If
      the
      managing underwriter of any underwritten offering shall advise the Company
      (and
      the Company shall so advise each Selling Holder of Registrable Securities
      requesting registration of such advice) that, in its opinion, the number of
      securities requested to be included in such registration exceeds the number
      which can be sold in such offering within a price range acceptable to the
      Selling Holders of 66-2/3% of the Registrable Securities (assuming the
      conversion of the Shares into Class A Common Stock) requested to be included
      in
      such registration, the Company, except as provided in the following sentence,
      will include in such registration, to the extent of the number and type which
      the Company is so advised can be sold in such offering, first, Registrable
      Securities requested to be included in such registration, pro rata (based on
      the
      number of Registrable Securities held by each of the Selling Holders) among
      the
      Selling Holders requesting such registration, second, all securities proposed
      to
      be sold by the Company for its own account, and third, any Third Party
      Securities requested to be included in such registration. Notwithstanding the
      foregoing, if the total number of Registrable Securities requested to be
      included in any registration cannot be included, holders of Registrable
      Securities requesting registration thereof pursuant to Section 2.1, representing
      not less than 50% of the Registrable Securities (assuming the conversion of
      the
      Shares into Class Common Stock) with respect to which registration has been
      requested, shall have the right to withdraw the request for registration of
      all
      such Registrable Securities by giving written notice to the Company within
      20
      days after receipt of the notice from the managing underwriter described above
      by the Company and, in the event of such withdrawal, such request for all
      Registrable Securities shall not be counted for purposes of the requests for
      registration to which holders of Registrable Securities are entitled pursuant
      to
      Section 2.1 hereof.

     

    (g)  Limitations
      on Registration Requests. 

     

    Notwithstanding
      anything in this Section 2.1 to the contrary, in no event will the Company
      be
      required to (i) effect a registration pursuant to this Section 2.1 within the
      six-month period occurring immediately subsequent to the effectiveness (within
      the meaning of Section 2.1(d)) of a registration statement filed pursuant to
      this Section 2.1, unless a majority of the Disinterested Directors determines
      that effecting a second registration within the six-month period would not
      have
      a material adverse effect on the market price of the Common Stock, (ii) effect
      a
      registration with respect to any class of Registrable Securities pursuant to
      Section 2.1 covering less than forty percent (40%) of the Registrable Securities
      (assuming the conversion of the Shares into Class A Common Stock), or (iii)
      all
      Registrable Securities can be sold without restriction (including any
      restriction on volume or as to manner of sale) pursuant to Rule 144 under the
      Securities Act. 

     

    (h)  Expenses.

     

    The
      Selling Holders will pay all Registration Expenses in connection with any
      registrations requested pursuant to this Section 2.1, allocated pro rata (based
      on the number and type of Registrable Securities of each of the Selling Holders
      included in the registration under this Section 2.1) and all other fees and
      expenses, if any, incident to the Company*s
      performance of or compliance with Section 2.1 incurred by the Company (other
      than compensation of its employees and other overhead costs); provided, however,
      that if a registration is withdrawn under Section 2.6, then the Company will
      pay
      all expenses related to such registration incident to its performance of or
      compliance with Section 2.1 (including all Registration Expenses); and provided
      further, that if a registration under Section 2.1 includes any securities other
      than the Registrable Securities, the Company will pay all expenses related
      to
      such registration incident to its performance of or compliance with this Section
      2.1 (including all Registration Expenses other than Fee Expenses) and the
      Selling Holders will pay all Fee Expenses allocated pro rata (based on the
      number and type of Registrable Securities of each of the Selling Holders
      included in the registration under this Section 2.1).

     

    2.2  Incidental
      Registration. 

     

    (a)  Right
      to Include Registrable Securities.

     

    If
      the
      Company at any time proposes to register any of its Common Stock or any other
      class of Registrable Securities or other securities convertible into or
      exchangeable for shares of its Common Stock or any other class of Registrable
      Securities under the Securities Act by registration on any form other than
      Forms
      S-4 or S-8 (or any successor forms), whether or not for sale for its own
      account, it will each such time give prompt written notice to all registered
      holders of Registrable Securities of its intention to do so and of such
      holders*
      rights
      under this Section 2.2. Upon the written request of any such holder (a
“Requesting Holder”) made as promptly as practicable and in any event within 30
      days after the receipt of any such notice from the Company (which request shall
      specify the Registrable Securities intended to he disposed of by such Requesting
      Holder), the Company shall use its best efforts to effect the registration
      under
      the Securities Act of all Registrable Securities which the Company has been
      so
      requested to register by the Requesting Holders thereof; provided, that prior
      to
      the effective date of the registration statement filed in connection with such
      registration, immediately upon notification to the Company from the managing
      underwriter of the price at which such securities are to be sold, if such price
      is below the price which any Requesting Holder shall have indicated to be
      acceptable to such Requesting Holder, the Company shall so advise such
      Requesting Holder of such price, and such Requesting Holder shall then have
      the
      right to withdraw its request to have its Registrable Securities included in
      such registration statement; provided, further, however, that if, at any time
      after giving written notice of its intention to register any securities and
      prior to the effective date of the registration statement filed in connection
      with such registration, the Company shall determine for any reason not to
      register or to delay registration of such securities, the Company may, at its
      election, give written notice of such determination to each Requesting Holder
      of
      Registrable Securities and (x) in the case of a determination not to register,
      shall be relieved of its obligation to register any Registrable Securities
      in
      connection with such registration, without prejudice, however, to the rights
      of
      any holder or holders of Registrable Securities entitled to do so to cause
      such
      registration to be effected as a registration under Section 2.1, and (y) in
      the
      case of a determination to delay registering, shall be permitted to delay
      registering any Registrable Securities, for the same period as the delay in
      registering such other securities. No registration effected under this Section
      2.2 shall relieve the Company of its obligation to effect any registration
      upon
      request under Section 2.1.

     

    (b)  Priority
      in Incidental Registrations.

     

    If
      the
      managing underwriter of any underwritten offering shall inform the Company
      by
      letter of its opinion that the number or type of Registrable Securities and
      Third Party Securities requested to be included in such registration would
      materially adversely affect such offering, and the Company has so advised the
      Requesting Holders in writing, then the Company will include in such
      registration, to the extent of the number and type which the Company is so
      advised can be sold in (or during the time of) such offering, first, all
      securities proposed by the Company to be sold for its own account, second,
      such
      Registrable Securities requested to be included in such registration pursuant
      to
      this Agreement, pro rata (based on the number of Registrable Securities
      requested to be included therein by each Selling Holder) among such Selling
      Holders and third, any Third Party Securities.

     

    (c)  Expenses.

     

    The
      Company will pay all fees and expenses incident to its performance of or
      compliance with this Section 2.2 (other than Fee Expenses) and the Requesting
      Holders will pay all Fee Expenses, allocated pro rata (based on the number
      and
      type of Registrable Securities of each of the Requesting Holders included in
      the
      registration under this Section 2.2); provided, however, that if any Registrable
      Securities are withdrawn from a registration pursuant to Section 2.2(a) or
      (b),
      then the Company shall pay all Fee Expenses related to such Registrable
      Securities.

     

    (d)  Pillsbury
      and Marks Registration.

     

    Notwithstanding
      anything contained herein to the contrary, (i) Hancock shall have no rights
      to
      participate in any registration of the Company*s
      securities occurring at the request of The Pillsbury Company or its successor
      in
      interest, General Mills Operations, Inc. (“Pillsbury”) pursuant to the terms of
      the Purchase and Registration Rights Agreement, dated as of March 15, 1996,
      as
      amended, between the Company and Pillsbury or at the request of any of the
      parties to the Registration Rights Agreement dated as of June 22, 1998 among
      the
      Company, Carl Marks Strategic Investments, L.P. and several of its affiliates
      pursuant to the terms of such Agreement (collectively “Marks”), and (ii)
      Hancock’s rights under this Section 2.1 shall in all respects be subordinate to
      the rights of Pillsbury and Marks under the agreements referred to in the
      previous clause except as Marks, the Company and the Holders may otherwise
      agree.

     

    2.3  Registration
      Procedures. 

     

    If
      and
      whenever the Company is required to use its best efforts to effect the
      registration of any Registrable Securities under the Securities Act as provided
      in Sections 2.1 and 2.2, the Company will, as expeditiously as
      possible:

     

    (i)  prepare
      and (as promptly as practicable, but in any event within 60 days after the
      request for registration is given to the Company) file with the Commission
      the
      requisite registration statement to effect such registration and thereafter
      use
      its best efforts to cause such registration statement to become effective;
      provided, however, that the Company may discontinue any registration of its
      securities which are not Registrable Securities (and, under the circumstances
      specified in Section 2.2(b), Registrable Securities) at any time prior to the
      effective date of the registration statement relating thereto;

     

    (ii)  prepare
      and file with the Commission such amendments and supplements to such
      registration statement and the prospectus used in connection therewith as may
      be
      necessary to keep such registration statement effective in accordance with
      Section 2.1(d)(i) hereof and to comply with the provisions of the Securities
      Act
      with respect to the disposition of all Registrable Securities covered by such
      registration statement until such time as all of such Registrable Securities
      have been disposed of in accordance with the intended methods of disposition
      by
      the seller or sellers thereof set forth in such registration statement;
      provided, that except with respect to any such registration statement filed
      pursuant to Rule 415 under the Securities Act, such period need not exceed
      135
      days, and, for any registration statement filed pursuant to such Rule 415,
      such
      period shall not exceed two years.;

     

    (iii)  furnish
      to each seller of Registrable Securities covered by such registration statement,
      such number of conformed copies of such registration statement and of each
      such
      amendment and supplement thereto (in each case including all exhibits), such
      number of copies of the prospectus contained in such registration statement
      (including each preliminary prospectus and any summary prospectus) and any
      other
      prospectus filed under Rule 424 under the Securities Act, in conformity with
      the
      requirements of the Securities Act, and such other documents, as such seller
      may
      reasonably request;

     

    (iv)  
      use
      commercially reasonable efforts (x) to register or qualify all Registrable
      Securities and other securities covered by such registration statement under
      such other securities or blue sky laws of such States of the United States
      of
      America where an exemption is not available and as the sellers of Registrable
      Securities covered by such registration statement shall reasonably request,
      (y)
      to keep such registration or qualification in effect for so long as such
      registration statement remains in effect and (z) to take any other action which
      may be reasonably necessary or advisable to enable such sellers to consummate
      the disposition in such jurisdictions of the securities to be sold by such
      sellers, except that the Company shall not for any such purpose be required
      to
      qualify generally to do business as a foreign corporation in any jurisdiction
      wherein it would not but for the requirements of this subdivision (iv) be
      obligated to be so qualified or to consent to general service of process in
      any
      such jurisdiction;

     

    (v)  use
      commercially reasonable efforts to cause all Registrable Securities covered
      by
      such registration statement to be registered with or approved by such other
      federal or state governmental agencies or authorities as may be necessary in
      the
      reasonable opinion of counsel to the Company and counsel to the seller or
      sellers of Registrable Securities to enable the seller or sellers thereof to
      consummate the disposition of such Registrable Securities;

     

    (vi)  furnish
      at the effective date of such registration statement to each seller of
      Registrable Securities, and each such seller*s
      underwriters, if any, a signed counterpart of:

     

    (x)  an
      opinion of counsel for the Company, dated the effective date of such
      registration statement and, if applicable, the date of the closing under the
      underwriting agreement, and

     

    (y)  a
      “comfort” letter signed by the independent public accountants who have certified
      the Company*s
      financial statements included or incorporated by reference in such registration
      statement,

     

    covering
      substantially the same matters with respect to such registration statement
      (and
      the prospectus included therein) and, in the case of the accountants*
      comfort
      letter, with respect to events subsequent to the date of such financial
      statements, as are customarily covered in opinions of issuer*s
      counsel
      and in accountants*
      comfort
      letters delivered to the underwriters in underwritten public offerings of
      securities and, in the case of the accountants*
      comfort
      letter, such other financial matters, and, in the case of the legal opinion,
      such other legal matters, as the underwriters may reasonably
      request;

    

    (vii)  notify
      each seller of Registrable Securities covered by such registration statement
      at
      any time when a prospectus relating thereto is required to be delivered under
      the Securities Act, upon discovery that, or upon the happening of any event
      as a
      result of which, the prospectus included in such registration statement, as
      then
      in effect, includes an untrue statement of a material fact or omits to state
      any
      material fact required to be stated therein or necessary to make the statements
      therein not misleading, in the light of the circumstances under which they
      were
      made, and at the request of any such seller promptly prepare and furnish to
      it a
      reasonable number of copies of a supplement to or an amendment of such
      prospectus as may be necessary so that, as thereafter delivered to the Seller
      of
      such Registrable Securities, such prospectus shall not include an untrue
      statement of a material fact or omit to state a material fact required to be
      stated therein or necessary to make the statements therein not misleading in
      the
      light of the circumstances under which they were made;

     

    (viii)  otherwise
      use commercially reasonable efforts to comply with all applicable rules and
      regulations of the Commission and, if requested by any underwriter for the
      Holders, make available to its security holders, as soon as reasonably
      practicable (but not more than 18 months after the effective date of such
      registration statement), an earnings statement covering the period of at least
      12 months beginning with the first full calendar month after the effective
      date
      of such registration statement, which earnings statement shall satisfy the
      provisions of Section 11(a) of the Securities Act and Rule 158 promulgated
      thereunder;

     

    (ix)  provide
      and cause to be maintained a transfer agent and registrar (which, in each case,
      may be the Company) for all Registrable Securities covered by such registration
      statement from and after a date not later than the effective date of such
      registration;

     

    (x)  use
      commercially reasonable efforts to cause all Registrable Securities, other
      than
      the Shares, covered by such registration statement either (a) to be listed
      on
      any national securities exchange on which Registrable Securities of the same
      class covered by such registration statement are then listed or (b) to be
      approved for quotation on any over the counter market on which Registrable
      Securities of the same class covered by any such registration statement are
      then
      quoted, and, if no such Registrable Securities are so listed or quoted, either
      (x) on any national securities exchange on which the Common Stock is then listed
      or (y) approved for quotation on any over the counter market on which the Common
      Stock is then quoted.

     

    (xi)  cooperate
      and assist in any filings required to be made with the NASD and in the
      performance of any due diligence investigation by any underwriter (including
      any
“qualified independent underwriter”) that is required to be retained in
      accordance with the rules and regulations of the NASD.

     

    The
      Company may require each seller of Registrable Securities as to which any
      registration is being effected to furnish the Company (i) such information
      regarding such seller and the distribution of such securities as the Company
      may
      from time to time reasonably request in writing and (ii) if requested by the
      Company, an executed custody agreement and power of attorney in form and
      substance reasonably satisfactory to the Company with respect to the Registrable
      Securities to be registered pursuant to this Agreement.

     

    Each
      holder of Registrable Securities agrees by acquisition of such Registrable
      Securities that, upon receipt of any notice from the Company of the happening
      of
      any event of the kind described in subdivision (vii) of this Section 2.3, such
      holder will forthwith discontinue such holder*s
      disposition of Registrable Securities pursuant to the registration statement
      relating to such Registrable Securities until such holder*s
      receipt
      of the copies of the supplemented or amended prospectus contemplated by
      subdivision (vii) of this Section 2.3 and, if so directed by the Company, will
      deliver to the Company (at the Company*s
      expense) all copies, other than permanent file copies, then in such
      holder*s
      possession of the prospectus relating to such Registrable Securities current
      at
      the time of receipt of such notice.

     

    If
      a
      registration statement filed pursuant to Section 2.1(c) hereof is subject to
      Rule 415 under the Securities Act, the Company shall use its best efforts to
      keep the registration statement continuously effective until the earlier to
      occur of (i) the time at which the Holders no longer own, beneficially or
      otherwise, any Registrable Securities or (ii) the second anniversary of the
      effective date of the registration statement (the “Registration Period”). The
      Company shall amend the registration statement if and as required by the rules,
      regulations or instructions applicable to the registration form used by the
      Company for the registration statement or by the Securities Act or any rules
      or
      regulations promulgated thereunder.

     

    2.4  Underwritten
      Offerings. 

     

    (a)  Requested
      Underwritten Offerings.

     

    If
      requested by the underwriters for any underwritten offering by holders of
      Registrable Securities pursuant to a registration requested under Section 2.1,
      the Company will enter into an underwriting agreement with such underwriters
      for
      such offering, such agreement to be in customary form and reasonably
      satisfactory in substance and form to each such holder, the underwriters and
      the
      Company. The holders of the Registrable Securities proposed to be sold by such
      underwriters will reasonably cooperate with the Company in the negotiation
      of
      the underwriting agreement. No holder of Registrable Securities shall be
      required to make any representations or warranties to or agreements with the
      Company other than representations, warranties or agreements regarding such
      holder, such holder*s
      Registrable Securities and such holder*s
      intended method of distribution or any other representations required by
      applicable law.

     

    (b)  Incidental
      Underwritten Offerings.

     

    If
      the
      Company proposes to register any of its securities under the Securities Act
      as
      contemplated by Section 2.2 and such securities are to be distributed by or
      through one or more underwriters, the Company will, if requested by any
      Requesting Holder of Registrable Securities, use its best efforts to arrange
      for
      such underwriters to include all the Registrable Securities to be offered and
      sold by such Requesting Holder among the securities of the Company to be
      distributed by such underwriters, subject to the provisions of Section 2.2(b).
      Any such Requesting Holder of Registrable Securities shall not be required
      to
      make any representations or warranties to or agreements with the Company or
      the
      underwriters other than representations, warranties or agreements regarding
      such
      Requesting Holder, such Requesting Holder*s
      Registrable Securities and such Requesting Holders s intended method of
      distribution or any other representations required by applicable
      law.

     

    2.5  Preparation;
      Reasonable Investigation.

     

    In
      connection with the preparation and filing of each registration statement under
      the Securities Act pursuant to this Agreement, the Company will give the holders
      of Registrable Securities to be registered under such registration statement,
      their underwriters, if any, and their respective counsel the opportunity to
      participate in the preparation of such registration statement, each prospectus
      included therein or filed with the Commission, and each amendment thereof or
      supplement thereto, and will give each of them such reasonable access to its
      books and records and such opportunities to discuss the business of the Company
      with its officers and the independent public accountants who have certified
      its
      financial statements as shall be necessary, in the opinion of such
      holders*
      and such
      underwriters*
      respective counsel, to conduct a reasonable investigation within the meaning
      of
      the Securities Act.

     

    2.6  Limitations,
      Conditions and Qualifications to Obligations under Registration
      Covenants.

     

    The
      Company shall be entitled to postpone for a reasonable period of time (but
      not
      exceeding 90 days) the filing of any registration statement otherwise required
      to be prepared and filed by it pursuant to Section 2.1 if the Company
      determines, in its reasonable judgment, that such registration and offering
      would interfere with any financing, acquisition, corporate reorganization or
      other material transaction involving the Company and promptly gives the holders
      of Registrable Securities requesting registration thereof pursuant to Section
      2.1 written notice of such determination, containing a general statement of
      the
      reasons for such postponement and an approximation of the anticipated delay.
      If
      the Company shall so postpone the filing of a registration statement, holders
      of
      Registrable Securities requesting registration thereof pursuant to Section
      2.1,
      representing not less than 50% of the Registrable Securities (assuming the
      conversion of the Shares into Class A Common Stock) with respect to which
      registration has been requested, shall have the right to withdraw the request
      for registration by giving written notice to the Company within 30 days after
      receipt of the notice of postponement and, in the event of such withdrawal,
      such
      request shall not be counted for purposes of the requests for registration
      to
      which holders of Registrable Securities are entitled pursuant to Section 2.1
      hereof.

     

    2.7  Indemnification. 

     

    (a)  Indemnification
      by the Company.

     

    The
      Company will, and hereby does, indemnify and hold harmless, in the case of
      any
      registration statement filed pursuant to Section 2.1 or 2.2, each seller of
      any
      Registrable Securities covered by such registration statement and each other
      Person who participates as an underwriter in the offering or sale of such
      securities and each other Person, if any, who controls such seller or any such
      underwriter within the meaning of the Securities Act or the Exchange Act, and
      their respective directors, officers, partners, agents and affiliates, against
      any losses, claims, damages or liabilities, joint or several, to which such
      seller or underwriter or any such director, officer, partner, agent, affiliate
      or controlling person may become subject under the Securities Act or otherwise,
      including, without limitation, the reasonable fees and expenses of legal
      counsel, insofar as such losses, claims, damages or liabilities (or actions
      or
      proceedings, whether commenced or threatened, in respect thereof) arise out
      of
      or are based upon any untrue statement or alleged untrue statement of any
      material fact contained in any registration statement under which such
      securities were registered under the Securities Act, any preliminary prospectus,
      final prospectus or summary prospectus contained therein, or any amendment
      or
      supplement thereto, or any omission or alleged omission to state therein a
      material fact required to be stated therein or necessary to make the statements
      therein not misleading, and the Company will reimburse such seller or
      underwriter and each such director, officer, partner, agent, affiliate and
      controlling Person for any reasonable legal or any other expenses incurred
      by
      them in connection with investigating or defending any such loss, claim,
      liability, action or proceeding; provided, however, that the Company shall
      not
      be liable in any such case to the extent that any such loss, claim, damage,
      liability (or action or proceeding in respect thereof) or expense arises out
      of
      or is based upon an untrue statement or alleged untrue statement or omission
      or
      alleged omission made in such registration statement, any such preliminary
      prospectus, final prospectus, summary prospectus, amendment or supplement in
      reliance upon and in conformity with written information furnished to the
      Company by or on behalf of such seller or underwriter, as the case may be,
      specifically stating that it is for use in the preparation thereof; provided,
      further, that the Company shall not be liable in any such case to the extent
      that any such loss, claim, damage, liability or expense arises out of or is
      based upon an untrue statement or alleged untrue statement of any material
      fact
      contained in any such registration statement, preliminary prospectus, final
      prospectus or summary prospectus contained therein or any omission to state
      therein a material fact required to be stated therein or necessary to make
      the
      statements therein in light of the circumstances in which they were made not
      misleading in a prospectus or prospectus supplement, if such untrue statement
      or
      omission is completely corrected in an amendment or supplement to such
      prospectus or prospectus supplement, the seller of the Registrable Securities
      has an obligation under the Securities Act to deliver a prospectus or prospectus
      supplement in connection with such sale of Registrable Securities and the seller
      of Registrable Securities thereafter fails to deliver such prospectus or
      prospectus supplement as so amended or supplemented prior to or concurrently
      with the sale of Registrable Securities to the person asserting such loss,
      claim, damage or liability after the Company has furnished such seller with
      a
      sufficient number of copies of the same. Such indemnity shall remain in full
      force and effect regardless of any investigation made by or on behalf of such
      seller or underwriter or any such director, officer, partner, agent, affiliate
      or controlling person and shall survive the transfer of such securities by
      such
      seller or underwriter.

     

    (b)  Indemnification
      by the Sellers.

     

    As
      a
      condition to including any Registrable Securities in any registration statement,
      the Company shall have received an undertaking reasonably satisfactory to it
      from the prospective seller of such Registrable Securities, to indemnify and
      hold harmless (in the same manner and to the same extent as set forth in Section
      2.7(a)) the Company, and each director of the Company, each officer of the
      Company and each other Person, if any, who participates as an underwriter in
      the
      offering or sale of such securities and each other Person who controls the
      Company or any such underwriter within the meaning of the Securities Act or
      the
      Exchange Act, with respect to any statement or alleged statement in or omission
      or alleged omission from such registration statement, any preliminary
      prospectus, final prospectus or summary prospectus contained therein, or any
      amendment or supplement thereto, if such statement or alleged statement or
      omission or alleged omission was made in reliance upon and in conformity with
      written information furnished to the Company by such seller specifically stating
      that it is for use in the preparation of such registration statement,
      preliminary prospectus, final prospectus, summary prospectus, amendment or
      supplement; provided, however, that the liability of such indemnifying party
      under this Section 2.7(b) shall be limited to the amount of proceeds received
      by
      such indemnifying party in the offering giving rise to such liability. Such
      indemnity shall remain in full force and effect, regardless of any investigation
      made by or on behalf of the Company or any such director, officer or controlling
      person and shall survive the transfer of such securities by such
      seller.

     

    (c)  Notices
      of Claims, etc.

     

    Promptly
      after receipt by an indemnified party of notice of the commencement of any
      action or proceeding involving a claim referred to in Section 2.7(a) or (b),
      such indemnified party will, if a claim in respect thereof is to be made against
      an indemnifying party, give written notice to the latter of the commencement
      of
      such action; provided, however, that the failure of any indemnified party to
      give notice as provided herein shall not relieve the indemnifying party of
      its
      obligations under the preceding subdivisions of this Section 2.7, except to
      the
      extent that the indemnifying party is actually and materially prejudiced by
      such
      failure to give notice. In case any such action shall be brought against any
      indemnified party and it shall notify the indemnifying party of the commencement
      thereof, the indemnifying party shall be entitled to participate therein and,
      to
      the extent that it may wish, to assume the defense thereof, with counsel
      reasonably satisfactory to such indemnified party; provided, however, that
      any
      indemnified party may, at its own expense, retain separate counsel to
      participate in such defense. Notwithstanding the foregoing, in any action or
      proceeding in which both the Company and an indemnified party is, or is
      reasonably likely to become, a party, such indemnified party shall have the
      right to employ separate counsel at the Company*s
      expense
      and to control its own defense of such action or proceeding if, in the opinion
      of counsel to such indemnified party, (a) there are or may be legal defenses
      available to such indemnified party or to other indemnified parties that are
      different from or additional to those available to the Company or (b) any
      conflict or potential conflict exists between the Company and such indemnified
      party that would make such separate representation advisable; provided, however,
      that in no event shall the Company be required to pay fees and expenses under
      this Section 2.7 for more than one firm of attorneys representing the
      indemnified parties (together, if appropriate, with one firm of local counsel
      per jurisdiction) in any one legal action or group of related legal actions.
      No
      indemnifying party shall be liable for any settlement of any action or
      proceeding effected without its written consent, which consent shall not be
      unreasonably withheld. Notwithstanding the foregoing sentence, if at any time
      an
      indemnified party shall have requested the indemnifying party to reimburse
      the
      indemnified party for fees and expenses of counsel as contemplated by this
      Section 2.7, the indemnifying party agrees that it shall be liable for any
      settlement of any proceeding effected without the indemnifying party*s
      written
      consent if (i) such settlement is entered into more than thirty (30) days after
      receipt by the indemnifying party of the aforesaid request, and (ii) the
      indemnifying party shall not have reimbursed the indemnified party in accordance
      with such request prior to the date of such settlement. No indemnifying party
      shall, without the consent of the indemnified party, which consent shall not
      be
      unreasonably withheld, consent to entry of any judgment or enter into any
      settlement which does not include as an unconditional term thereof the giving
      by
      the claimant or plaintiff to such indemnified party of a release from all
      liability in respect to such claim or litigation or which requires action other
      than the payment of money by the indemnifying party.

     

    (d)  Contribution.

     

    If
      the
      indemnification provided for in this Section 2.7 shall for any reason be held
      by
      a court to be unavailable to an indemnified party under Section 2.7(a) or (b)
      hereof in respect of any loss, claim, damage or liability, or any action in
      respect thereof, then, in lieu of the amount paid or payable under Section
      2.7(a) or (b), the indemnified party and the indemnifying party under Section
      2.7(a) or (b) shall contribute to the aggregate losses, claims, damages and
      liabilities (including legal or other expenses reasonably incurred in connection
      with investigating the same), (i) in such proportion as is appropriate to
      reflect the relative fault of the Company and the sellers or prospective sellers
      of Registrable Securities covered by the registration statement which resulted
      in such loss, claim, damage or liability, or action or proceeding in respect
      thereof, with respect to the statements or omissions which resulted in such
      loss, claim, damage or liability, or action or proceeding in respect thereof,
      as
      well as any other relevant equitable considerations or (ii) if the allocation
      provided by clause (i) above is not permitted by applicable law, in such
      proportion as shall be appropriate to reflect the relative benefits received
      by
      the Company and such sellers or prospective sellers from the offering of the
      securities covered by such registration statement, provided, that for purposes
      of this Section 2.7(d), the amounts required to be contributed by the sellers
      or
      prospective sellers of Registrable Securities shall not exceed the amount of
      proceeds received by such sellers or prospective sellers. No Person guilty
      of
      fraudulent misrepresentation (within the meaning of Section 11(f) of the
      Securities Act) shall be entitled to contribution from any Person who was not
      guilty of such fraudulent misrepresentation. Such sellers or prospective
      sellers*
      obligations to contribute as provided in this Section 2.7(d) are several in
      proportion to the relative value of their respective Registrable Securities
      covered by such registration statement and not joint.

     

    (e)  Indemnification
      Payments.

     

    The
      indemnification and contribution required by this Section 2.7 shall be made
      by
      periodic payments of the amount thereof during the course of the investigation
      or defense, as and when bills are received or expense, loss, damage or liability
      is incurred.

     

    3.  Definitions.

     

    As
      used
      herein, unless the context otherwise requires, the following terms have the
      following respective meanings:

     

    

    “Affiliate”
      has the meaning set forth in Rule 12b-2 of the regulations promulgated under
      the
      Exchange Act.

     

    “Commission”
      means the Securities and Exchange Commission or any other federal agency at
      the
      time administering the Securities Act.

     

    “Class
      A
      Common Stock” means the Company’s Class A common stock, par value $0.25 per
      share. 

     

    “Common
      Stock” shall mean and include: (i) the Class A common stock, par value $.25 per
      share, of the Company, (ii) the Class B common stock, par value $.25 per share,
      of the Company, and (iii) each other class of capital stock of the Company
      that
      does not have a preference over any other class of capital stock of the Company
      as to dividends or upon liquidation, dissolution or winding up of the Company
      and, in each case, shall include any other class of capital stock of the Company
      into which such stock is reclassified or reconstituted.

     

    “Disinterested
      Director” means, with respect to any transaction or series of related
      transactions, a member of the board of directors of the Company who does not
      have any material direct or indirect financial interest in or with respect
      to
      such transaction or series of related transactions.

     

    “Exchange
      Act” means the Securities Exchange Act of 1934, as amended, or any superseding
      Federal statute, and the rules and regulations promulgated thereunder, all
      as
      the same shall be in effect at the time. Reference to a particular section
      of
      the Securities Exchange Act of 1934, as amended, shall include a reference
      to
      the comparable section, if any, of any such superseding Federal
      statute.

     

    “Fee
      Expenses” means, with respect to any Registrable Securities included in a
      registration, all registration and filing fees with the Commission, all filing
      fees of the New York Stock Exchange, Inc., other national securities exchanges
      or the National Association of Securities Dealers, Inc., and all filing fees
      to
      comply with securities or blue sky laws which relate solely to such Registrable
      Securities.

     

    “Initiating
      Holder” is defined in Section 2.1.

     

    “NASD”
      means National Association of Securities Dealers, Inc.

     

    “Person”
      means any individual, firm, corporation, partnership, limited liability company
      or partnership, trust, incorporated or unincorporated association, joint
      venture, joint stock company, government (or an agency or political subdivision
      thereof) or other entity of any kind and shall include any successor (by merger
      or otherwise) of such entity.

     

    “Pillsbury”
      is defined in Section 2.2(d).

     

    “Purchase
      Agreement” is defined in Section 1.

     

    “Registrable
      Securities” means (i) any Shares, (ii) any shares of Common Stock issued upon
      conversion of the Shares, (iii) any other shares of Common Stock or Voting
      Securities beneficially owned by Hancock or any of its Affiliates (whether
      owned
      on the date hereof or hereafter acquired) and (iv) any securities of the Company
      issued or issuable with respect to any of the securities described in clauses
      (i), (ii) or (iii) by way of a dividend or stock split or in connection with
      a
      combination of shares, recapitalization, reclassification, merger,
      consolidation, reconstitution or other reorganization or otherwise. As to any
      particular Registrable Securities, once issued, such securities shall cease
      to
      be Registrable Securities when (a) a registration statement with respect to
      the
      sale of such securities shall have become effective under the Securities Act
      and
      such securities shall have been disposed of in accordance with such registration
      statement, (b) they shall have been sold as permitted by Rule 144 (or any
      successor provision) under the Securities Act, (c) they shall have been
      otherwise transferred, new certificates for them not bearing a legend
      restricting further transfer shall have been delivered by the Company and
      subsequent public distribution of them shall not require registration of such
      distribution under the Securities Act or (d) they shall have ceased to be
      outstanding. All references to percentages of Registrable Securities shall
      be
      calculated pursuant to Section 9.

     

    “Registration
      Expenses” means with respect to any registration under Section 2, all Fee
      Expenses with respect to Registrable Securities included in such registration,
      all reasonable printing, messenger and delivery expenses incurred in such
      registration, the reasonable fees and disbursements of counsel for the Company
      and of its independent public accountants incurred in such registration,
      including the reasonable expenses of “comfort” letters required by or incident
      to such performance and compliance, any reasonable fees and disbursements of
      underwriters customarily paid by issuers or sellers of securities (excluding
      any
      underwriting discounts or commissions with respect to the Registrable
      Securities) and the reasonable fees and expenses of one counsel to the Selling
      Holders incurred in such registration (selected by Selling Holders representing
      at least 50% of the Registrable Securities covered by such
      registration)

     

    “Requesting
      Holder” is defined in Section 2.2.

     

    “Securities
      Act” means the Securities Act of 1933, as amended, or any superseding Federal
      statute, and the rules and regulations promulgated thereunder, all as the same
      shall be in effect at the time. References to a particular section of the
      Securities Act of 1933, as amended, shall include a reference to the comparable
      section, if any, of any such superseding Federal statute.

     

    “Selling
      Holder” is defined in Section 2.1.

     

    “Shares”
      is defined in Section 1.

     

    “Third
      Party Securities” means any securities included in a registration statement
      requested under Section 2.1 or 2.2, other than (i) Registrable Securities,
      and
      (ii) securities to be sold by the Company for its own account.

     

    “Voting
      Securities” means any securities of the Company entitled to vote generally in
      the election of directors, or securities convertible into or exercisable or
      exchangeable for such securities.

     

    4.  Rule
      144.

     

    The
      Company shall take all actions reasonably necessary to enable holders of
      Registrable Securities to sell such securities without registration under the
      Securities Act within the limitation of the provisions of (a) Rule 144 under
      the
      Securities Act, as such Rule may be amended from time to time, or (b) any
      similar rules or regulations hereafter adopted by the Commission. Upon the
      request of any holder of Registrable Securities, the Company will deliver to
      such holder a written statement as to whether it has complied with such
      requirements.

     

    5.  Amendments
      and Waivers.

     

    This
      Agreement may be amended with the consent of the Company and the Company may
      take any action herein prohibited, or omit to perform any act herein required
      to
      be performed by it, only if the Company shall have obtained the written consent
      to such amendment, action or omission to act, of the holder or holders of at
      least 66-2/3% of the Registrable Securities affected by such amendment, action
      or omission to act. Each holder of any Registrable Securities at the time or
      thereafter outstanding shall be bound by any consent authorized by this Section
      5, whether or not such Registrable Securities shall have been marked to indicate
      such consent. If the Securities Act is amended or new regulations are adopted
      thereunder, to permit company registration such that the Company would not
      be
      able to grant the holders of Registrable Securities the right to register and
      resell their Registrable Securities in the manner contemplated under this
      Agreement on the date of its execution, then the parties hereto agree to
      negotiate in good faith to amend this Agreement to grant such holders of
      Registrable Securities substantially equivalent rights to those that were
      provided on the date of this Agreement.

     

    6.  Nominees
      for Beneficial Owners.

     

    In
      the
      event that any Registrable Securities are held by a nominee for the beneficial
      owner thereof, the beneficial owner thereof may, at its election in writing
      delivered to the Company, be treated as the holder of such Registrable
      Securities for purposes of any request or other action by any holder or holders
      of Registrable Securities pursuant to this Agreement or any determination of
      any
      number or percentage of shares of Registrable Securities held by any holder
      or
      holders of Registrable Securities contemplated by this Agreement. If the
      beneficial owner of any Registrable Securities so elects, the Company may
      require assurances reasonably satisfactory to it of such owner*s
      beneficial ownership of such Registrable Securities.

     

    7.  Notices.

     

    All
      notices, demands and other communications provided for or permitted hereunder
      shall be made in writing and shall be by registered or certified first-class
      mail, return receipt requested, telecopier, courier service or personal
      delivery:

     

    (i)  if
      to
      Hancock, addressed to it in the manner set forth in the Purchase Agreement,
      or
      at such other address as it shall have furnished to the Company in writing
      in
      the manner set forth herein;

     

    (ii)  if
      to any
      other holder of Registrable Securities, at the address that such holder shall
      have furnished to the Company in writing in the manner set forth herein, or,
      until any such other holder so furnishes to the Company an address, then to
      and
      at the address of the last holder of such Registrable Securities who has
      furnished an address to the Company; or

     

    (iii)  if
      to the
      Company, addressed to it in the manner set forth in the Purchase Agreement,
      or
      at such other address as the Company shall have furnished to each holder of
      Registrable Securities at the time outstanding in the manner set forth
      herein.

     

    All
      such
      notices and communications shall be deemed to have been duly given: when
      delivered by hand, if personally delivered; when delivered by a courier, if
      delivered by overnight courier service; three business days after being
      deposited in the mail, postage prepaid, if mailed; and when receipt is
      acknowledged, if telecopied.

     

    8.  Assignment.

     

    This
      Agreement shall be binding upon and inure to the benefit of and be enforceable
      by the parties hereto and, with respect to the Company, its respective
      successors and permitted assigns and, with respect to Hancock, any subsequent
      holder of any Registrable Securities, subject to the provisions respecting
      the
      minimum amount of Registrable Securities required in order to be entitled to
      certain rights, or take certain actions, contained herein. 

     

    9.  Calculation
      of Percentage Interests in Registrable Securities.

     

    For
      purposes of this Agreement, all references to a percentage of the Registrable
      Securities shall be calculated based upon the number of Registrable Securities
      outstanding at the time such calculation is made. If there is more than one
      class of Registrable Securities, then each reference to a percentage of the
      Registrable Securities shall mean a percentage of each class of the Registrable
      Securities.

     

    10.  No
      Inconsistent Agreements.

     

    The
      Company will not hereafter enter into any agreement with respect to its
      securities which is inconsistent with the rights granted to the holders of
      Registrable Securities in this Agreement. Without limiting the generality of
      the
      foregoing, the Company will not hereafter enter into any agreement with respect
      to its securities which grants, or modify any existing agreement with respect
      to
      its securities to grant, to the holder of its securities in connection with
      an
      incidental registration of such securities equal or higher priority to the
      rights granted to Hancock under Section 2.

     

    11.  Remedies.

     

    Each
      holder of Registrable Securities, in addition to being entitled to exercise
      all
      rights granted by law, including recovery of damages, will be entitled to
      specific performance of its rights under this Agreement without being required
      to post bond. The Company agrees that monetary damages would not be adequate
      compensation for any loss incurred by reason of a breach by it of the provisions
      of this Agreement and hereby agrees to waive the defense in any action for
      specific performance that a remedy at law would be adequate.

     

    12.  Severability.

     

    In
      the
      event that any one or more of the provisions contained herein, or the
      application thereof in any circumstances, is held invalid, illegal or
      unenforceable in any respect for any reason, the validity, legality and
      enforceability of any such provision in every other respect and of the remaining
      provisions contained herein shall not be in any way impaired thereby, it being
      intended that all of the rights and privileges of Hancock shall be enforceable
      to the fullest extent permitted by law.

     

    13.  Entire
      Agreement.

     

    This
      Agreement, together with the Purchase Agreement (including the exhibits and
      schedules thereto), is intended by the parties as a final expression of their
      agreement and intended to be a complete and exclusive statement of the agreement
      and understanding of the parties hereto in respect of the subject matter
      contained herein and therein. There are no restrictions, promises, warranties
      or
      undertakings, other than those set forth or referred to herein and therein.
      This
      Agreement and the Purchase Agreement (including the exhibits and schedules
      thereto) supersede all prior agreements and understandings between the parties
      with respect to such subject matter.

     

    14.  Headings.

     

    The
      headings in this Agreement are for convenience of reference only and shall
      not
      limit or otherwise affect the meaning hereof.

     

    15.  Governing
      Law.

     

    This
      Agreement has been negotiated, executed and delivered in the State of New York
      and shall be governed by and construed in accordance with the laws of the State
      of New York, without regard to principles of conflicts of law.

     

    16.  Counterparts.

     

    This
      Agreement may be executed in any number of counterparts and by the parties
      hereto in separate counterparts, each of which when so executed shall be deemed
      an original and all of which taken together shall constitute one and the same
      instrument.

     

    [Intentionally
      left blank]

    

    
      
        
          

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
      and delivered by their respective representatives hereunto duly authorized
      as of
      the date first above written.

     

    

    SENECA
      FOODS CORPORATION

    

    By:
      /s/ Kraig
      H. Kayser  

    Name: Kraig
      H.
      Kayser

    Title: President

    

    

    JOHN
      HANCOCK LIFE INSURANCE COMPANY

    

    

    By:
      /s/Warren Thomson  

    Name: Warren
      Thomson

    Title: Executive
      Vice President - U.S. Fixed Income

    

    

    JOHN
      HANCOCK VARIABLE LIFE

    INSURANCE
      COMPANY

    

    

    By:
      /s/Warren Thomson  

    Name: Warren
      Thomson

    Title: Authorized
      SignatoryUnassociated Document

    

     

    AMENDMENT
      NO. 1

    

    To

    

    CITIGROUP
      MORTGAGE LOAN TRUST INC.

    Depositor

     

    CITIMORTGAGE,
      INC.

    Master
      Servicer and Trust Administrator

     

    CITIBANK,
      N.A.

    Paying
      Agent, Certificate Registrar and Authenticating Agent

     

    and

     

    U.S.
      BANK
      NATIONAL ASSOCIATION

    Trustee

     

    _________________________________________

    

    POOLING
      AND SERVICING AGREEMENT

    Dated
      as
      of May 1, 2006

    _________________________________________

     

    Mortgage
      Pass-Through Certificates

     

    Series
      2006-4

     

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    THIS
      AMENDMENT NO. 1, dated as of July 25, 2006 (the “Amendment”), to the Pooling and
      Servicing Agreement, dated as of May 1, 2006, among CITIGROUP MORTGAGE LOAN
      TRUST INC., as depositor (the “Depositor”), CITIMORTGAGE, INC., as master
      servicer and trust administrator (the “Master Servicer” and the “Trust
      Administrator”), CITIBANK, N.A., as paying agent, certificate registrar and
      authenticating agent (the “Paying Agent,” the “Certificate Registrar” and the
“Authenticating Agent”) and U.S. BANK NATIONAL ASSOCIATION, as trustee (the
“Trustee”) (the “Pooling and Servicing Agreement”).

     

    W
      I T N E
      S S E T H

    

    WHEREAS,
      the Depositor, the Master Servicer, the Trust Administrator, the Paying Agent,
      the Certificate Registrar, the Authenticating Agent, and the Trustee entered
      into the Pooling and Servicing Agreement;

    

    WHEREAS,
      the parties to the Pooling and Servicing Agreement desire to amend the Pooling
      and Servicing Agreement exclusively with respect to certain percentages
      appearing in Section 4.01(b)(ii);

    

    NOW,
      THEREFORE, the parties hereto agree as follows:

    

    SECTION
      1. Defined
      Terms.

    

    For
      purposes of this Amendment, unless the context clearly requires otherwise,
      all
      capitalized terms which are used but not otherwise defined herein shall have
      the
      respective meanings assigned to such terms in the Pooling and Servicing
      Agreement.

    

    SECTION
      2. Amendment.

    

    The
      first
      paragraph under Section 4.01(b)(ii) is amended by deleting the percentages
      appearing therein and replacing them with the percentages as underlined
      below:

     

    (ii) On
      any
      Distribution Date, the portion of (a) all net Liquidation Proceeds and Insurance
      Proceeds with respect to any Group 1 Mortgage Loans that were the subject of
      a
      Final Recovery Determination in the related Prepayment Period and (b) all
      Principal Prepayments received in respect of the Group 1 Mortgage Loans in
      the
      related Prepayment Period, allocable to principal and not included in the
      related Senior Principal Distribution Amount, will be allocated on a
pro
      rata
      basis
      among the following Classes of Subordinate Certificates (each, an “Eligible
      Class”) in proportion to the respective outstanding Certificate Principal
      Balances thereof: (i) the Class B1 Certificates, (ii) the Class B2 Certificates,
      if on such Distribution Date the aggregate percentage interest evidenced by
      the
      Class B2 Certificates, the Class B3 Certificates, the Class B4 Certificates,
      the
      Class B5 Certificates and the Class B6 Certificates equals or exceeds
2.90%
      before
      giving effect to distributions on such Distribution Date, (iii) the Class B3
      Certificates, if on such Distribution Date the aggregate percentage interest
      evidenced by the Class B3 Certificates, the Class B4 Certificates, the Class
      B5
      Certificates and the Class B6 Certificates equals or exceeds 1.85%
      before
      giving effect to distributions on such Distribution Date, (iv) the Class B4
      Certificates, if on such Distribution Date the aggregate percentage interest
      evidenced by the Class B4 Certificates, the Class B5 Certificates and the Class
      B6 Certificates equals or exceeds 1.20%
      before
      giving effect to distributions on such Distribution Date, (v) the Class B5
      Certificates, if on such Distribution Date the aggregate percentage interest
      evidenced by the Class B5 Certificates and the Class B6 Certificates equals
      or
      exceeds 0.65%
      before
      giving effect to distributions on such Distribution Date and (vi) the Class
      B6
      Certificates, if on such Distribution Date the percentage interest evidenced
      by
      the Class B6 Certificates equals or exceeds 0.30%
      before
      giving effect to distributions on such Distribution Date. If any of the
      foregoing Certificates is not an Eligible Class, any amounts allocable to
      principal and distributable pursuant to this Section 4.01(b)(ii) will be
      distributed among the Certificates that are Eligible Classes in the manner
      set
      forth above.

     

    SECTION
      3. Limited
      Effect of Amendment.

    

    Upon
      execution of this Amendment, the Pooling and Servicing Agreement shall be,
      and
      be deemed to be, modified and amended in accordance herewith and the respective
      rights, limitations, obligations, duties, liabilities and immunities of the
      Depositor, the Master Servicer, the Trust Administrator, the Paying Agent,
      the
      Certificate Registrar, the Authenticating Agent, and the Trustee shall hereafter
      be determined, exercised and enforced subject in all respects to such
      modifications and amendments, and all the terms and conditions of this Amendment
      shall be deemed to be part of the terms and conditions of the Pooling and
      Servicing Agreement for any and all purposes. Except as modified and expressly
      amended by this Amendment, the Pooling and Servicing Agreement is in all
      respects ratified and confirmed, and all the terms, provisions and conditions
      thereof shall be and remain in full force and effect. Reference
      to this Amendment need not be made in the Pooling
      and Servicing Agreement or
      any
      other instrument or document executed in connection therewith, or in any
      certificate, letter or communication issued or made pursuant to, or with respect
      to, the Pooling
      and Servicing Agreement,
      any
      reference in any of such items to the Pooling
      and Servicing Agreement being
      sufficient to refer to the Pooling
      and Servicing Agreement as
      amended hereby.

     

    SECTION
      4. Binding
      Effect.

    

    The
      provisions of this Amendment shall be binding upon and inure to the benefit
      of
      the respective successors and assigns of the parties hereto, and all such
      provisions shall inure to the benefit of the Depositor, the Master Servicer,
      the
      Trust Administrator, the Paying Agent, the Certificate Registrar, the
      Authenticating Agent, and the Trustee.

    

    SECTION
      5. Governing
      Law.

    

    This
      Agreement shall be construed in accordance with the laws of the State of New
      York and the obligations, rights and remedies of the parties hereunder shall
      be
      determined in accordance with such laws.

     

    SECTION
      6. Severability
      of Provisions.

    

    If
      any
      one or more of the provisions or terms of this Amendment shall be for any reason
      whatsoever held invalid, then such provisions or terms shall be deemed severable
      from the remaining provisions or terms of this Amendment and shall in no way
      affect the validity or enforceability of the other provisions or terms of this
      Amendment.

    

    SECTION
      7. Section
      Headings.

    

    The
      section headings herein are for convenience of reference only, and shall not
      limit or otherwise affect the meaning hereof.

    

    SECTION
      8. Counterparts.

    

    This
      Amendment may be executed in several counterparts, each of which shall be an
      original and all of which shall constitute but one and the same
      instrument.

    

    IN
      WITNESS WHEREOF, the Depositor, the Master Servicer, the Trust Administrator,
      the Paying Agent, the Certificate Registrar, the Authenticating Agent, and
      the
      Trustee have caused their names to be signed hereto by their respective officers
      thereunto duly authorized as of the 25th day of July, 2006.

    

    [signature
      page follows]

    

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Depositor, the Master Servicer, the Trust Administrator,
      the Paying Agent, the Authenticating Agent, the Certificate Registrar and the
      Trustee have caused their names to be signed hereto by their respective officers
      thereunto duly authorized, in each case as of the day and year first above
      written.

     

    

     

    
      	 	 	 	 	 	 	 	
              CITIGROUP
                MORTGAGE LOAN TRUST INC.,

              as
                Depositor

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                Peter D. Steinmetz

            
	 	 	 	 	 	 	 	
              Name:

            	
              Peter
                D. Steinmetz

            
	 	 	 	 	 	 	 	
              Title:

            	
              Vice
                President

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              CITIMORTGAGE,
                INC.,

              as
                Master Servicer and Trust Administrator

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                Tommy R. Harris

            
	 	 	 	 	 	 	 	
              Name:

            	
              Tommy
                R. Harris

            
	 	 	 	 	 	 	 	
              Title:

            	
              Sr.
                Vice President

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              CITIBANK,
                N.A.,

              as
                Paying Agent, Certificate Registrar and Authenticating
                Agent

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                Jennifer McCourt

            
	 	 	 	 	 	 	 	
              Name:

            	
              Jennifer
                McCourt

            
	 	 	 	 	 	 	 	
              Title:

            	
              Vice
                President

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              U.S.
                BANK NATIONAL ASSOCIATION, not in its individual capacity but solely
                as
                Trustee

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                Clare M. O’Brien

            
	 	 	 	 	 	 	 	
              Name:

            	
              Clare
                M. O’Brien

            
	 	 	 	 	 	 	 	
              Title:

            	
              Vice
                President

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