Document:

BANK OF AMERICA, N.A.

TO:     Wells Fargo Bank, N.A. as Securities Administrator on behalf of
        Banc of America Funding Corporation 2006-1 Trust
        9062 Old Annapolis Road
        Columbia, MD 21045

FROM:   Bank of America, National Association
        233 South Wacker Drive, 28th Floor
        Chicago, Illinois 60606
        Attention: Suzanne Buchta

DATE:   18th January 2006

Our Reference Numbers:     4436076  4436077
Internal Tracking Numbers: 13201166  13201165

Dear Sir/Madam,

         The purpose of this letter agreement is to confirm the terms and
conditions of the transaction entered into between Banc of America Funding
Corporation 2006-1 Trust and Bank of America, N.A., a national banking
association organized under the laws of the United States of America (each a
"party" and together "the parties") on the Trade Date specified below (the
"Transaction"). This letter agreement constitutes a "Confirmation" as referred
to in the ISDA Master Agreement specified in paragraph 1 below. In this
Confirmation, "Party A" means Bank of America, N.A., and "Party B" means Banc of
America Funding Corporation 2006-1 Trust .

         The definitions and provisions contained in the 2000 ISDA Definitions,
as published by the International Swaps and Derivatives Association, Inc. (the
"Definitions"), are incorporated into this Confirmation. In the event of any
inconsistency between the Definitions and this Confirmation, this Confirmation
will govern.

         Other capitalized terms used herein (but not otherwise defined) shall
have the meaning specified in that certain Pooling and Servicing Agreement, to
be dated November 29, 2005 (the "Pooling and Servicing Agreement"), among Banc
of America Funding Corporation, Wells Fargo Bank, N.A., as Securities
Administrator and Master Servicer, and Wachovia Bank, National Association, as
Trustee.

1.   This Confirmation evidences a complete binding agreement between the
parties as to the terms of the Transaction to which this Confirmation relates.
In addition, the parties agree that for the purposes of this Transaction, this
Confirmation will supplement, form a part of, and be subject to an agreement in
the form of the 1992 ISDA Master Agreement (Multicurrency-Cross Border) as if
the parties had executed an agreement in such form (but without any Schedule
except for the elections noted below) on the Trade Date of the Transaction (such
agreement, the "Form Master Agreement"). In the event of any inconsistency
between the provisions of the Form Master Agreement and this Confirmation, this
Confirmation will prevail for the purpose of this Transaction.

     Subject to Section 16(f) hereof, each party represents to the other party
and will be deemed to represent to the other party on the date on which it
enters into this Transaction that (absent a written agreement between the
parties that expressly imposes affirmative obligations to the contrary for that
Transaction):

     (a) NON-RELIANCE. Each party has made its own independent decisions to
enter into this Transaction and as to whether this Transaction is appropriate or
proper for it based upon its own judgment and upon advice from such advisors as
it has deemed necessary. It is not relying on any communication (written or
oral) of the other party as investment advice or as a recommendation to enter
into this Transaction; it being understood that information and explanations
related to the terms and conditions of this Transaction shall not be considered
investment advice or a recommendation to enter into this Transaction. Further,
such party has not received from the other party any assurance or guarantee as
to the expected results of this Transaction.

     (b) EVALUATION AND UNDERSTANDING. It is capable of evaluating and
understanding (on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of this
Transaction. It is also capable of assuming, and assumes, the financial and
other risks of this Transaction.

     (c) STATUS OF PARTIES. The other party is not acting as an agent, fiduciary
or advisor for it in respect of this Transaction.

2.   The terms of the particular Transaction to which this Confirmation relates
are as follows:

     Notional Amount:                As per the attached Schedule A

     Trade Date:                     18 January 2006

     Effective Date:                 25 January 2006

     Termination Date:               25 May 2011, subject to adjustment in
                                     accordance with the Following Business Day
                                     Convention.

     FIXED AMOUNT:

     Fixed Rate Payer:               Party B

     Fixed Rate Payer Payment        31 January 2006, subject to adjustment in
     Date:                           accordance with the Following Business Day
                                     Convention.

     Fixed Amount:                   USD 200,000.00

     FLOATING AMOUNT:

     Floating Rate Payer:            Party A

                                       2

     Strike Rate:                    4.85000 per cent

     Ceiling Rate:                   8.60000 per cent

     Floating Rate Payer Payment     Early Payments shall be applicable - 2
     Dates:                          Business Days prior to each Floating Rate
                                     Payer Period End Date, subject to
                                     adjustment in accordance with the Following
                                     Business Day Convention.

     Floating Rate Payer Period      The 25th of each Month, commencing on 25
     End Dates:                      February 2006 and ending on the Termination
                                     Date. No Adjustment.

     Floating Amount:                The product of (a) the Notional Amount, (b)
                                     30/360 and (c) the Settlement Spread which
                                     shall be calculated in accordance with the
                                     following formula:

                                     IF USD-LIBOR-BBA IS GREATER THAN THE STRIKE
                                     RATE FOR THE APPLICABLE CALCULATION PERIOD,
                                     THEN SETTLEMENT SPREAD = (USD-LIBOR-BBA -
                                     APPLICABLE STRIKE RATE) PROVIDED, HOWEVER,
                                     THAT IF USD-LIBOR-BBA FOR ANY CALCULATION
                                     PERIOD IS GREATER THAN THE CEILING RATE
                                     THEN THE USD-LIBOR-BBA FOR SUCH CALCULATION
                                     PERIOD SHALL BE DEEMED TO BE THE CEILING
                                     RATE.

                                     If 1 Month USD-LIBOR-BBA is less than or
                                     equal to the Strike Rate for the applicable
                                     Calculation Period, then Settlement Spread
                                     = Zero.

     Floating Rate for initial       TO BE SET

     Calculation Period:

     Floating Rate Option:           USD-LIBOR-BBA

     Designated Maturity:            1 Month

     Spread:                         None

     Floating Rate Day Count
     Fraction:                       30/360

     Averaging:                      Inapplicable

     Reset Dates:                    First day of each Calculation Period

     Business Days:                  New York

     Calculation Agent:              Party A

                                       3

3.   FORM MASTER AGREEMENT.

     (a) "Specified Entity" means, in relation to Party A, for the purpose of
Section 5(a)(v), Section 5(a)(vi), Section 5(a)(vii) and Section 5(b)(iv): Not
Applicable.

     (b) "Specified Entity" means, in relation to Party B, for the purpose of
Section 5(a)(v), Section 5(a)(vi), Section 5(a)(vii) and Section 5(b)(iv): Not
Applicable.

     (c) "Specified Transaction" will have the meaning specified in Section 14
of the Form Master Agreement.

     (d) The "Credit Event Upon Merger" provisions of Section 5(b)(iv) of the
Form Master Agreement will not apply to Party A or to Party B.

     (e) The "Automatic Early Termination" provision of Section 6(a) of the Form
Master Agreement will not apply to Party A or to Party B.

     (f) The Form Master Agreement will be governed by, and construed in
accordance with, the laws of the State of New York without reference to its
conflict of laws provisions (except for Sections 5-1401 and 5-1402 of the New
York General Obligations Law).

     (g) The phrase "Termination Currency" means United States Dollars.

     (h) For the purpose of Section 6(e) of the Form Master Agreement, Market
Quotation and Second Method will apply.

4.   RECORDING OF CONVERSATIONS.

     Each party to this Transaction acknowledges and agrees to the tape (and/or
other electronic) recording of conversations between the parties to this
Transaction whether by one or other or both of the parties or their agents, and
that any such recordings may be submitted in evidence in any Proceedings
relating to the Form Master Agreement and/or this Transaction.

5.   CREDIT SUPPORT DOCUMENT.

     In relation to Party A: Not Applicable.
     In relation to Party B: Not Applicable.

6.   CREDIT SUPPORT PROVIDER.

     In relation to Party A: Not Applicable.
     In relation to Party B: Not Applicable.

7.   ACCOUNT DETAILS.

     Party A:
     Name:             Bank of America, N.A. - New York
     ABA #:   026009593
     Attn:             BOFAUS3N
     Name:             Bank of America, N.A.
     City:             Charlotte
     Acct#:            6550219386

                                       4

     Attn:             Rate Derivative Settlements
     Attn:             BOFAUS6SGDS

     Party B:
     Wells Fargo Bank, N.A.
     San Francisco, CA
     121-000-248
     Acct. # 3970771416
     Acct. Name: SAS Clearing
     F/F/C: Reserve Fund: 50892401

8.   OFFICES.

     The Office of Party A for this Transaction is: Charlotte, North Carolina
                                                    Please send notices to fax
                                                    no. 1-866-255-1444.

     The Office of Party B for this Transaction is:
                                                    Wells Fargo Bank, N.A. as
                                                    Securities Administrator on
                                                    behalf of Banc of America
                                                    Funding Corporation 2006-1
                                                    Trust
                                                    9062 Old Annapolis Road
                                                    Columbia, MD 21045
                                                    Attn: Client Manager BAFC
                                                    2006-1

9.   ADDITIONAL PROVISIONS.

     (a) Fully-Paid Transactions. Notwithstanding the terms of Sections 5 and 6
of the Form Master Agreement, if at any time and so long as one of the parties
to the Form Master Agreement ("X") shall have satisfied in full all its payment
and delivery obligations under Section 2(a)(i) of the Form Master Agreement and
shall at the time have no future payment or delivery obligations, whether
absolute or contingent, under such Section, then unless the other party ("Y") is
required pursuant to appropriate proceedings to return to X or otherwise returns
to X (upon demand of X, or otherwise) any portion of any such payment or
delivery: (i) the occurrence of an event described in Section 5(a)(i) of the
Form Master Agreement with respect to X shall not constitute an Event of Default
or a Potential Event of Default with respect to X as the Defaulting Party; and
(ii) Y shall be entitled to designate an Early Termination Date (a) pursuant to
Section 10 below and/or (b) pursuant to Section 6 of the Form Master Agreement
only as a result of the occurrence of a Termination Event set forth in (i)
either Section 5(b)(i) or 5(b)(ii) or 5(b)(v) of the Form Master Agreement with
respect to Y as the Affected Party or (ii) Section 5(b)(iii) of the Form Master
Agreement with respect to Y as the Burdened Party.

     (b) Downgrade of Party A. If a Ratings Event (as defined below) shall occur
and be continuing with respect to Party A, then Party A shall (A) within 5
Business Days of such Ratings Event, give notice to Party B of the occurrence of
such Ratings Event, and (B) use reasonable efforts to transfer (at its own cost)
Party A's rights and obligations hereunder to another party, subject to
satisfaction of the Rating Agency Condition (as defined below). Unless such a
transfer by Party A has occurred within 20 Business Days after the occurrence of
a Ratings Event, Party B

                                       5

shall demand that Party A post Eligible Collateral (as designated in the
approved Credit Support Annex), to secure Party B's exposure or potential
exposure to Party A, and such Eligible Collateral shall be provided in
accordance with a Credit Support Annex to be attached hereto and made a part
hereof within 10 Business Days of Party B's demand therefor. The Eligible
Collateral to be posted and the Credit Support Annex to be executed and
delivered shall be subject to the Rating Agency Condition. Valuation and posting
of Eligible Collateral shall be made as of each Payment Date, unless Party A or
Bank of America Corporation are no longer reporting financial information
publicly, then such valuation and posting must occur weekly. Notwithstanding the
addition of the Credit Support Annex and the posting of Eligible Collateral,
Party A shall continue to use reasonable efforts to transfer its rights and
obligations hereunder to an acceptable third party; provided, however, that
Party A's obligations to find a transferee and to post Eligible Collateral under
such Credit Support Annex shall remain in effect only for so long as a Ratings
Event is continuing with respect to Party A. For the purpose hereof, a "Ratings
Event" shall occur with respect to Party A if the long-term and short-term
senior unsecured deposit ratings of Party A cease to be at least A and A-1 by
Standard & Poor's Ratings Service ("S&P") and at least A1 and P-1 by Moody's
Investors Service, Inc. ("Moody's") and at least A and F1 by Fitch Ratings
("Fitch"), to the extent such obligations are rated by S&P, Moody's and Fitch.
"Rating Agency Condition" means, with respect to any action taken or to be
taken, a condition that is satisfied when S&P, Moody's and Fitch have confirmed
that such action would not result in the downgrade, qualification (if
applicable) or withdrawal of the rating then assigned by such Rating Agency to
the applicable class of Certificates. The failure by Party A to post Eligible
Collateral in accordance herewith or to transfer its rights and obligations
hereunder shall constitute an Additional Termination Event for which Party A
shall be the sole Affected Party.

10.  ADDITIONAL TERMINATION EVENT.

     It shall be an Additional Termination Event if any amendment and/or
supplement to any document that pertains to the Form Master Agreement and/or
this Transaction is made without the prior written consent of Party A (such
consent not to be unreasonably withheld), if such amendment and/or supplement
would: (i) adversely affect any of Party A's rights or obligations hereunder
and/or under the Form Master Agreement; or (ii) modify the obligations of, or
impair the ability of, Party B to fully perform any of Party B's obligations
hereunder and/or under the Form Master Agreement. In connection with such
Additional Termination Event, Party B shall be the sole Affected Party.

11.  WAIVER OF RIGHT TO TRIAL BY JURY.

     EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY
WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
TRANSACTION.

12.  ELIGIBLE CONTRACT PARTICIPANT.

     Each party represents to the other party that it is an "eligible contract
participant" as defined in Section 1a(12) of the U.S. Commodity Exchange Act, as
amended.

13.  NOTICE BY FACSIMILE TRANSMISSION.

     Section 12(a) of the Form Master Agreement is hereby amended by deleting
the parenthetical "(except that a notice or other communication under Section 5
or 6 may not be given by facsimile transmission or electronic messaging
system)."

                                       6

14.  REPRESENTATIONS.

     Wells Fargo Bank, N.A., acting on behalf of Party B, as Securities
Administrator, represents that: (a) it is duly organized and validly existing as
a national banking association under the laws of the jurisdiction of its
organization/formation; (b) it has been directed pursuant to the Pooling
Agreement to enter into this Transaction (including the Form Master Agreement)
and to perform its obligations hereunder (and thereunder); (c) the Transaction
and the performance of its obligations hereunder (and under the Form Master
Agreement) will not, to its knowledge, result in a breach or violation of any
material term or provision of, or constitute a default under any agreement or
instrument to which Wells Fargo Bank, N.A. is a party or by which it is bound;
(d) each of the Pooling and Servicing Agreement and the other transaction
documents related thereto (the "Transaction Documents") to which it is a party
has been duly authorized, executed and delivered by it; (e) assuming the due
authorization, execution and delivery thereof by the other parties thereto, each
of the Pooling and Servicing Agreement and the other Transaction Documents to
which it is a party constitutes the legal, valid and binding obligations of it,
enforceable against it in accordance with the terms thereof, subject to
applicable bankruptcy, insolvency and similar laws or legal principles affecting
creditors' rights generally; (f) the Pooling and Servicing Agreement and the
other Transaction Documents to which Party B is a party are in full force and
effect on the date hereof and there have been no amendments or waivers or
modifications of any of the terms thereof since the original execution and
delivery of the Pooling and Servicing Agreement and the other Transaction
Documents to which Party B is a party, except such as may have been delivered to
Party A and to Party B; (g) to its knowledge, no event of default (or event
which would, with the passage of time or the giving of notice, or both,
constitute an event of default) has occurred under any of the Transaction
Documents to which Party B is a party; and (h) the person executing this
Confirmation is duly authorized to execute and deliver it on behalf of Party B.

15.  MULTIBRANCH PARTY.

     For purpose of Section 10(c) of the Form Master Agreement: (a) Party A is a
Multibranch Party, and may act through its Charlotte, North Carolina, Chicago,
Illinois, San Francisco, California, New York, New York, Boston, Massachusetts
or London, England Office or such other Office as may be agreed to by the
parties in connection with a Transaction; and (b) Party B is not a Multibranch
Party.

16.  OTHER PROVISIONS.

     (a) Addresses for notices. As set forth on page 1 hereof and, with respect
to Party A, the fax no. set forth on the signature page to this letter
agreement.

     (b) For the purpose of Section 13(c) of the Form Master Agreement: (i)
Party A appoints as its Process Agent, not applicable; and (ii) Party B appoints
as its Process Agent, not applicable.

     (c) Section 12(a)(ii) of the Form Master Agreement is deleted in its
entirety.

     (d) Party A may assign its rights and obligations hereunder to any entity
so long as the Rating Agency Confirmation is satisfied.

                                       7

     (e) USA PATRIOT Act Notice. Party A hereby notifies Party B that pursuant
to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed
into law October 26, 2001)) (the "Act"), it is required to obtain, verify and
record information that identifies Party B, which information includes the name
and address of Party B and other information that will allow Party A to identify
Party B in accordance with the Act.

     (f) It is expressly understood and agreed by the parties hereto that
insofar as this Confirmation is executed by the Securities Administrator (i)
this Confirmation is executed and delivered by Wells Fargo Bank, N.A., not in
its individual capacity but solely as Securities Administrator under the Pooling
and Servicing Agreement in the exercise of the powers and authority conferred
upon and vested in it thereunder and pursuant to instructions set forth herein,
(ii) each of the representations, undertakings and agreements herein made on
behalf of the trust formed under the Pooling and Servicing Agreement is made and
intended not as a personal representation, undertaking or agreement of the
Securities Administator but is made and intended solely for the purpose of
binding only Banc of America Funding Corporation 2006-1 Trust, and (iii) under
no circumstances shall Wells Fargo Bank, N.A., in its individual capacity be
personally liable for the payment of any indebtedness or expenses or be
personally liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by it on behalf of Banc of America
Funding Corporation 2006-1 Trust under this Confirmation. Notwithstanding the
foregoing (or anything to the contrary herein), Wells Fargo Bank, N.A. shall be
liable for its own fraud, negligence, willful misconduct and/or bad faith

     (g) The Events of Default specified under Sections 5(a)(ii) - 5(a)(vi) of
the Form Master Agreement will not apply to either Party A or Party B.

     (h) With respect to Party B only, the provisions of Section 5(a)(vii)
clause 2 of the Form Master Agreement will not be applicable as an Event of
Default.

     (i) Without affecting the provisions of the Form Master Agreement requiring
the calculation of certain net payment amounts, as a result of an Event of
Default or Additional Termination Event or otherwise, all payments under the
Form Master Agreement will be made without setoff.

     (j) Party A agrees that it will not, prior to the date that is one year and
one day from the Trade Date, acquiesce in, petition or otherwise invoke or cause
Party B to invoke the process of any court or governmental authority for the
purpose of commencing or sustaining a case against Party B under any federal or
state bankruptcy, insolvency or similar law or for the purpose of appointing a
receiver, liquidator, assignee, trustee, custodian, sequestrator or other
similar official for Party B or any substantial part of the property of Party B,
or for the purpose of ordering the winding up or liquidation of the affairs of
Party B. Nothing herein (nor in the Form Master Agreement) shall prevent Party A
from participating in any such proceeding once commenced.

     (k) Section 9(b) of the Form Master Agreement is hereby amended by adding
the following at the end of such Section: ", and unless the Rating Agency
Condition is satisfied, unless such amendment clarifies any term or provision,
corrects any inconsistency, cures any ambiguity, or corrects any typographical
error."

                                       8

     (l) Before any amendment and/or supplement is made to any document that
pertains to the Form Master Agreement and/or any Transaction thereunder, Party B
must first obtain the prior written consent of Party A (such consent not to be
unreasonably withheld) if such amendment and/or supplement would: (a) adversely
affect any of Party A's rights or obligations under the Form Master Agreement;
or (b) modify the obligations of, or impact the ability of, Party B to fully
perform any of Party B's obligations under the Form Master Agreement.

17.  COMPLIANCE WITH REGULATION AB. In connection with the Pooling and Servicing
Agreement, Party B represents that this Confirmation is a derivative instrument
as described in Item 1115 of Regulation AB under the Securities Act of 1933 and
the Securities Exchange Act of 1934, as amended ("Regulation AB"), and not a
credit support contract described in Item 1114 of Regulation AB.

     (a) In accordance with Regulation AB, Party A represents that: (i) the name
of the derivative counterparty is Bank of America, N.A.; (ii) the organizational
form of the derivative counterparty is a national banking association organized
under the laws of the United States; and (iii) the general character of the
business of the derivative counterparty is to be engaged in a general consumer
banking, commercial banking and trust business, offering a wide range of
commercial, corporate, international, financial market, retail and fiduciary
banking services.

     (b) Party A has been advised that Party B (and/or certain affiliates of
Party B) is required under Regulation AB to disclose certain financial
information regarding Party A depending on the applicable "significance
percentage" of this Confirmation, as calculated from time to time in accordance
with Item 1115 of Regulation AB (as discussed in the Pooling and Servicing
Agreement). Party A has been advised by the Sponsor (as defined in the Pooling
and Servicing Agreement) that the applicable "significance percentage" of this
Confirmation is less than 10%, and accordingly, no financial information
regarding Party A need be disclosed in accordance with Item 1115 of Regulation
AB.

     (c) If required, Party A shall provide to Party B the applicable financial
information described under Item 1115(b)(1) or (b)(2), as applicable, of
Regulation AB (the "Reg AB Information") within fifteen (15) Local Business Days
of receipt of a written request for such Reg AB Information by Party B (the
"Response Period"), so long as Party B has reasonably determined, in good faith,
that such information is required under Regulation AB; provided, however, that
if Party A, in good faith, determines that it is unable to provide the Reg AB
Information within the Response Period, then, subject to the Rating Agency
Condition, Party A shall use reasonable efforts to cause a Reg AB Approved
Entity (as defined below) to replace Party A as party to this Confirmation on
terms substantially similar to this Confirmation prior to the expiration of the
Response Period.

     (d) "Reg AB Approved Entity" means any entity that (i) has the ability to
provide the Reg AB Information and (ii) meets or exceeds the Approved Rating
Thresholds (as defined below). If Party B requests (in writing) the Reg AB
Information from Party A, then Party B shall promptly (and in any event within
two (2) Local Business Days of the date of the request for the Reg AB
Information) provide Party A with a written explanation of how the significance
percentage was calculated.

     (e) "Approved Rating Thresholds" means an entity that has a long-term and
short-term senior unsecured deposit rating of at least A and A-1 by S&P, A1 and
P-1 by Moody's or A and F1 by Fitch, to the extent such obligations are rated by
S&P, Moody's and Fitch.

                                       9

Please confirm that the foregoing correctly sets forth the terms and conditions
of our agreement by returning within three (3) Business Days via telecopier an
executed copy of this Confirmation to the attention of Global Derivative
Operations (fax no. 1-866-255-1444)). Failure to respond within such period
shall not affect the validity or enforceability of this Transaction, and shall
be deemed to be an affirmation of the terms and conditions contained herein,
absent manifest error.

Yours sincerely,

Bank of America, N.A.

By: /s/ Mary Beth Knight
    ------------------------------------------
    Name:  Mary Beth Knight
    Title: Assistant Vice President

Confirmed as of the date above:

Banc of America Funding 2006-1 Trust

By: Wells Fargo Bank, N.A., not in its individual capacity but solely as
Securities Administrator on behalf of Banc of America Funding Corporation 2006-1
Trust

By: /s/ Peter A. Gobell
    ------------------------------------------
    Name:  Peter A. Gobell
    Title: Vice President

                                       10

                                   SCHEDULE A
                     Our Reference Numbers: 4436076 4436077

NOTIONAL
AMOUNT (USD)           START DATE              END DATE
28,000,000.00          1/25/2006               2/25/2006
27,885,510.00          2/25/2006               3/25/2006
27,742,034.00          3/25/2006               4/25/2006
27,569,676.00          4/25/2006               5/25/2006
27,368,598.00          5/25/2006               6/25/2006
27,139,023.00          6/25/2006               7/25/2006
26,881,232.00          7/25/2006               8/25/2006
26,595,566.00          8/25/2006               9/25/2006
26,282,424.00          9/25/2006               10/25/2006
25,942,263.00          10/25/2006              11/25/2006
25,575,599.00          11/25/2006              12/25/2006
25,183,002.00          12/25/2006              1/25/2007
24,765,100.00          1/25/2007               2/25/2007
24,322,576.00          2/25/2007               3/25/2007
23,856,164.00          3/25/2007               4/25/2007
23,366,652.00          4/25/2007               5/25/2007
22,854,877.00          5/25/2007               6/25/2007
22,321,724.00          6/25/2007               7/25/2007
21,768,127.00          7/25/2007               8/25/2007
21,195,061.00          8/25/2007               9/25/2007
20,603,546.00          9/25/2007               10/25/2007
19,994,641.00          10/25/2007              11/25/2007
19,369,441.00          11/25/2007              12/25/2007
18,729,079.00          12/25/2007              1/25/2008
18,074,717.00          1/25/2008               2/25/2008
17,407,549.00          2/25/2008               3/25/2008
16,729,045.00          3/25/2008               4/25/2008
16,040,615.00          4/25/2008               5/25/2008
15,357,784.00          5/25/2008               6/25/2008
14,691,218.00          6/25/2008               7/25/2008
14,041,330.00          7/25/2008               8/25/2008
13,407,808.00          8/25/2008               9/25/2008
12,790,347.00          9/25/2008               10/25/2008
12,188,647.00          10/25/2008              11/25/2008
11,602,415.00          11/25/2008              12/25/2008
11,031,358.00          12/25/2008              1/25/2009
10,475,194.00          1/25/2009               2/25/2009
9,933,641.00           2/25/2009               3/25/2009
9,406,425.00           3/25/2009               4/25/2009
8,893,276.00           4/25/2009               5/25/2009

                                       11

8,393,927.00           5/25/2009               6/25/2009
7,908,117.00           6/25/2009               7/25/2009
7,435,590.00           7/25/2009               8/25/2009
6,976,093.00           8/25/2009               9/25/2009
6,529,379.00           9/25/2009               10/25/2009
6,095,204.00           10/25/2009              11/25/2009
5,673,328.00           11/25/2009              12/25/2009
5,263,517.00           12/25/2009              1/25/2010
4,865,538.00           1/25/2010               2/25/2010
4,479,165.00           2/25/2010               3/25/2010
4,104,174.00           3/25/2010               4/25/2010
3,740,346.00           4/25/2010               5/25/2010
3,387,465.00           5/25/2010               6/25/2010
3,045,320.00           6/25/2010               7/25/2010
2,713,702.00           7/25/2010               8/25/2010
2,392,406.00           8/25/2010               9/25/2010
2,081,231.00           9/25/2010               10/25/2010
1,779,980.00           10/25/2010              11/25/2010
1,488,458.00           11/25/2010              12/25/2010
1,206,475.00           12/25/2010              1/25/2011
933,843.00             1/25/2011               2/25/2011
679,930.00             2/25/2011               3/25/2011
434,918.00             3/25/2011               4/25/2011
198,630.00             4/25/2011               5/25/2011

                                       12---------------------------------------
                                                  Execution Copy
                                       ---------------------------------------

                        MORTGAGE LOAN PURCHASE AGREEMENT

         This Mortgage Loan Purchase Agreement (the "Agreement"), dated January
31, 2006, is between Banc of America Funding Corporation, a Delaware corporation
(the "Purchaser") and Bank of America, National Association, a national banking
association (the "Seller").

         WHEREAS, pursuant to (a) that certain Master Flow Sale and Servicing
Agreement, dated as of August 1, 2003, by and between the Seller (as successor
in interest to Banc of America Mortgage Capital Corporation ("BAMCC")), as
purchaser, and GMAC Mortgage Corporation ("GMAC"), as seller, (b) that certain
Global Amendment to Sale and Servicing Agreements, dated as of September 1,
2005, by and among GMAC, BAMCC and the Seller, (c) that certain Regulation AB
Compliance Addendum to the Master Flow Sale and Servicing Agreement, dated as of
January 1, 2006, by and between GMAC and the Seller and (d) that certain
Assignment and Conveyance Agreement, dated as of September 15, 2005, by and
between GMAC and the Seller (collectively, the "GMAC Agreements") the Seller
purchased the mortgage loans listed on Exhibit I (the "GMAC Mortgage Loans")
from GMAC and GMAC currently services the GMAC Mortgage Loans;

         WHEREAS, pursuant to (a) that certain Master Seller's Warranties and
Servicing Agreement, dated as of September 1, 2003, by and between the Seller
(as successor in interest to BAMCC), as purchaser, and National City Mortgage
Co. ("National City"), as seller, as amended by (b) that certain Amendment No.
1, dated as of July 1, 2004, by and among BAMCC, National City and the Seller,
(c) that certain Master Assignment, Assumption and Recognition Agreement, dated
as of July 1, 2004, by and among BAMCC, National City, the Seller and Wachovia
Bank, National Association ("Wachovia"), (d) that certain Amendment No. 2, dated
as of October 1, 2004, by and between National City and the Seller, (e) that
certain Amendment No. 3, dated as of August 11, 2005, by and between National
City and the Seller, (f) that certain Regulation AB Compliance Addendum to the
Master Seller's Warranties and Servicing Agreement, dated as of January 1, 2006,
by and between National City and the Seller, (g) that certain Assignment and
Conveyance Agreement, dated as of October 5, 2005, by and between National City
and the Seller, (h) that certain Assignment and Conveyance Agreement, dated as
of October 20, 2005, by and between National City and the Seller and (i) that
certain Assignment and Conveyance Agreement, dated as of December 20, 2005, by
and between National City and the Seller (collectively, the "National City
Agreements") the Seller purchased the mortgage loans listed on Exhibit II (the
"National City Mortgage Loans") from National City and National City currently
services the National City Mortgage Loans;

         WHEREAS, pursuant to (a) that certain Mortgage Loan Flow Purchase, Sale
and Servicing Agreement, dated as of August 1, 2005, by and among the Seller, as
purchaser, PHH Mortgage Corporation ("PHH Mortgage"), as a seller and servicer,
and Bishop's Gate Residential Mortgage Trust ("Bishop's Gate"), as a seller (as
amended by (i) that certain Amendment No. 1, dated as of January 30, 2006, by
and among the Seller, PHH Mortgage and Bishop's Gate and (ii) that certain
Regulation AB Compliance Addendum, dated as of January 1, 2006, by and between
the Seller, PHH Mortgage and Bishop's Gate, and (b) the related Warranty

Bill of Sale, dated August 31, 2005 (collectively, the "PHH Agreements") the
Seller purchased the mortgage loans listed on Exhibit III (the "PHH Mortgage
Loans") from the Sellers and PHH Mortgage currently services the PHH Mortgage
Loans;

         WHEREAS, pursuant to (a) that certain Standard Terms and Provisions of
Sale and Servicing Agreement, dated as of November 1, 2004, by and between the
Seller, as purchaser, and Residential Funding Corporation ("RFC"), as seller,
(b) that certain Regulation AB Compliance Addendum, dated as of January 1, 2006,
by and between RFC and the Seller, (c) that certain Reference Agreement, dated
as of July 1, 2005, by and between RFC and the Seller, (d) that certain
Reference Agreement (WH25A), dated as of September 1, 2005, by and between RFC
and the Seller, (e) that certain Reference Agreement (WH25B), dated as of
September 1, 2005, by and between RFC and the Seller and (f) that certain
Reference Agreement, dated as of October 1, 2005, by and between RFC and the
Seller (collectively, the RFC Agreements") the Seller purchased the mortgage
loans listed on Exhibit IV (the "RFC Mortgage Loans") from RFC and RFC currently
services the RFC Mortgage Loans;

         WHEREAS, pursuant to (a) that certain Flow Sale and Servicing
Agreement, dated as of February 1, 2004, by and between the Seller (as successor
in interest to BAMCC), as purchaser, and SunTrust Mortgage, Inc. ("SunTrust"),
as seller, (b) that certain Amendment No. 1, dated as of June 1, 2004, by and
between the Seller and SunTrust, (c) that certain Master Assignment, Assumption
and Recognition Agreement, dated September 1, 2004, by and among BAMCC,
SunTrust, the Seller and Wachovia, (d) that certain Amendment No. 2, dated as of
November 1, 2004, by and between the Seller and SunTrust, (v) that certain
Regulation AB Compliance Addendum to the Flow Sale and Servicing Agreement,
dated as of January 1, 2006, by and between the Seller and SunTrust and (e) that
certain Memorandum of Sale, dated as of November 22, 2005, by and between the
Seller and SunTrust (collectively, the "SunTrust Agreements") the Seller
purchased the mortgage loans listed on Exhibit V (the "SunTrust Mortgage Loans")
from SunTrust and SunTrust currently services the SunTrust Mortgage Loans;

         WHEREAS, pursuant to (a) that certain Mortgage Loan Purchase and Sale
Agreement (Amended and Restated), dated as of July 1, 2003, by and among
Washington Mutual Bank fsb ("WAMU fsb"), Washington Mutual Bank ("WAMU") and the
Seller (as successor in interest to BAMCC), as purchaser, as amended by (i) that
certain Master Assignment, Assumption and Recognition Agreement (the "MAAR"),
dated as of July 1, 2004, by and among BAMCC, the Seller and WAMU and (ii) that
certain Regulation AB Amendment to the Mortgage Loan Purchase and Sale
Agreement, dated as of January 1, 2006, by and among WAMU fsb, WAMU and the
Seller), (b) the Servicing Agreement (Amended and Restated), dated as of July 1,
2003, by and between the Seller and WAMU, as servicer, as amended by (i) the
MAAR and (ii) that certain Regulation AB Amendment to the Servicing Agreement,
dated as of January 1, 2006, by and between WAMU and the Seller, (c) that
certain Term Sheet, dated as of October 26, 2005, by and between the Seller and
WAMU, (d) that certain Term Sheet, dated as of November 22, 2005, by and between
the Seller and WAMU and (e) that certain Term Sheet, dated as of December 22,
2005, by and between the Seller and WAMU (collectively, the "WAMU Agreements")
the Seller purchased the mortgage loans listed on Exhibit VI (the "WAMU Mortgage
Loans") from WAMU on a servicing retained basis and WAMU currently services the
WAMU Mortgage Loans;

                                        2

         WHEREAS, pursuant to (a) that certain Master Seller's Warranties and
Servicing Agreement, dated as of March 1, 2005 (as amended and restated on
December 1, 2005), by and between the Seller, as purchaser, and Wells Fargo
Bank, N.A. ("Wells Fargo Bank"), as seller and servicer, (b) the Master Mortgage
Loan Purchase Agreement, dated as of March 1, 2005 (as amended and restated on
December 1, 2005), by and between the Seller, as purchaser, and Wells Fargo
Bank, as seller and servicer, (c) that certain Assignment and Conveyance
Agreement, dated as of September 27, 2005, by and between the Seller and Wells
Fargo Bank, (d) that certain Assignment and Conveyance Agreement, dated as of
October 26, 2005, by and between the Seller and Wells Fargo Bank and (e) that
certain Assignment and Conveyance Agreement, dated as of December 15, 2005, by
and between the Seller and Wells Fargo Bank (collectively, the Wells Fargo Bank
Agreements" and together with the GMAC Agreements, the National City Agreements,
the PHH Agreements, the RFC Agreements, the SunTrust Agreements and the WAMU
Agreements, the "Transfer Agreements") the Seller purchased the mortgage loans
listed on Exhibit VII (the "Wells Fargo Bank Mortgage Loans" and together with
the GMAC Mortgage Loans, the National City Mortgage Loans, the PHH Mortgage
Loans, the RFC Mortgage Loans, the SunTrust Mortgage Loans and the WAMU Mortgage
Loans, the "Assigned Mortgage Loans") from Wells Fargo Bank and Wells Fargo Bank
currently services the Wells Fargo Bank Mortgage Loans;

         WHEREAS, the Seller is the owner of the mortgage loans listed on
Exhibit VIII (the "BANA Mortgage Loans," and together with the Assigned Mortgage
Loans, the "Mortgage Loans") and the related notes or other evidence of
indebtedness (the "BANA Mortgage Notes," and together with the notes of the
Assigned Mortgage Loans, the "Mortgage Notes") or other evidence of ownership,
and the other documents or instruments constituting the related mortgage file
(the "BANA Mortgage File");

         WHEREAS, the Seller, as of the date hereof, owns the mortgages (the
"Mortgages") on the properties (the "Mortgaged Properties") securing such
Mortgage Loans, including rights (a) to any property acquired by foreclosure or
deed in lieu of foreclosure or otherwise, and (b) to the proceeds of any
insurance policies covering the Mortgage Loans or the Mortgaged Properties or
the obligors on the Mortgage Loans; and

         WHEREAS, the parties hereto desire that the Seller sell the Mortgage
Loans to the Purchaser and the Purchaser purchase the Mortgage Loans from the
Seller pursuant to the terms of this Agreement; and

         WHEREAS, pursuant to the terms of a Pooling and Servicing Agreement,
dated January 31, 2006 (the "Pooling and Servicing Agreement"), among the
Purchaser, as depositor, U.S. Bank National Association, as trustee (the
"Trustee"), and Wells Fargo Bank, as securities administrator (the "Securities
Administrator") and as master servicer (the "Master Servicer"), the Purchaser
will convey the Mortgage Loans to Banc of America Funding 2006-1 Trust (the
"Trust").

         NOW, THEREFORE, in consideration of the mutual covenants herein
contained, the parties hereto agree as follows:

         The Purchaser and the Seller hereby recite and agree as follows:

                                      3

        1. Defined Terms. Terms used without definition herein shall have the
respective meanings assigned to them in the Pooling and Servicing Agreement
relating to the issuance of the Purchaser's Mortgage Pass-Through Certificates,
Series 2006-1 (the "Certificates") or, if not defined therein, in the
underwriting agreement dated January 30, 2006 (the "Underwriting Agreement"),
between the Purchaser and Banc of America Securities LLC, or in the purchase
agreement dated January 31, 2006 (the "Purchase Agreement"), between the
Purchaser and Banc of America Securities LLC.

        2. Purchase Price; Purchase and Sale. The Seller agrees to sell, and the
Purchaser agrees to purchase, the Mortgage Loans. The purchase price (the
"Purchase Price") for the Mortgage Loans shall consist of $477,096,818.54
payable by the Purchaser to the Seller on the Closing Date in immediately
available funds.

        Upon payment of the Purchase Price, the Seller shall be deemed
to have transferred, assigned, set over and otherwise conveyed to the Purchaser
all the right, title and interest of the Seller in and to the Mortgage Loans and
all Mortgage Files, including all interest and principal received or receivable
by the Seller on or with respect to the Mortgage Loans after the Cut-off Date
(and including scheduled payments of principal and interest due after the
Cut-off Date but received by the Seller on or before the Cut-off Date and
Principal Prepayments received or applied on the Cut-off Date, but not including
payments of principal and interest due on the Mortgage Loans on or before the
Cut-off Date), together with all of the Seller's rights, title and interest in
and to all Mortgaged Property and any related title, hazard, primary mortgage,
mortgage pool policy or other insurance policies including all income, payments,
products and proceeds of any of the foregoing. The Purchaser hereby directs the
Seller, and the Seller hereby agrees, to deliver to the Trustee all documents,
instruments and agreements required to be delivered by the Purchaser to the
Trustee under the Pooling and Servicing Agreement and such other documents,
instruments and agreements as the Purchaser or the Trustee shall reasonably
request.

        3. Representations and Warranties as to the Assigned Mortgage Loans. The
representations and warranties with respect to the Assigned Mortgage Loans in
the related Transfer Agreements were made as of the date specified in each such
Transfer Agreement. The Seller's right, title and interest in such
representations and warranties and the remedies in connection therewith have
been assigned to the Purchaser pursuant to (i) the Assignment, Assumption and
Recognition Agreement, dated January 31, 2006, by and among the Seller, the
Purchaser, the Trustee, the Master Servicer and GMAC, (ii) the Assignment,
Assumption and Recognition Agreement, dated January 31, 2006, by and among the
Seller, the Purchaser, the Trustee, the Master Servicer and National City, (iii)
the Assignment, Assumption and Recognition Agreement, dated January 31, 2006, by
and among the Seller, the Purchaser, the Trustee, the Master Servicer and
SunTrust, (iv) the Assignment, Assumption and Recognition Agreement, dated
January 31, 2006, by and among the Seller, the Purchaser, the Trustee, the
Master Servicer, WAMU fsb and WAMU, (v) the Assignment, Assumption and
Recognition Agreement, dated January 31, 2006, by and among the Seller, the
Purchaser, the Trustee and Wells Fargo Bank, (vi) the Assignment, Assumption and
Recognition Agreement, dated January 31, 2006, by and among the Seller, the
Purchaser, the Trustee, the Master Servicer, Bishop's Gate and PHH and (vii) the
Assignment, Assumption and Recognition Agreement, dated January 31, 2006, by and
among the Seller, the Purchaser, the Trustee, the Master Servicer and RFC. To

                                     4

the extent that any fact, condition or event with respect to a Mortgage Loan
constitutes a breach of both (i) a representation or warranty of the Underlying
Transferor under the related Transfer Agreement and (ii) a representation or
warranty of the Seller under this Agreement, the only right or remedy of the
Purchaser shall be the right to enforce the obligations of such Underlying
Transferor under any applicable representation or warranty made by it. The
Purchaser acknowledges and agrees that the representations and warranties of the
Seller in this Section 3 are applicable only to facts, conditions or events that
do not constitute a breach of any representation or warranty made by a Servicer
in the related Transfer Agreements. The Seller shall have no obligation or
liability with respect to any breach of a representation or warranty made by it
with respect to the Mortgage Loans if the fact, condition or event constituting
such breach also constitutes a breach of a representation or warranty made by a
Servicer in the related Transfer Agreements (other than with respect to the
representations or warranties in Section 3(k), to the extent such
representations and warranties relate to predatory or abusive lending and the
representations and warranties in Section 3(o) below), without regard to whether
each Servicer fulfills its contractual obligations in respect of such
representation or warranty. Subject to the foregoing, the Seller represents and
warrants with respect to the Assigned Mortgage Loans, or each Assigned Mortgage
Loan, as the case may be, as of the date hereof or such other date set forth
herein, that as of the Closing Date:

        (a) The information set forth with respect to the Mortgage Loans on the
mortgage loan schedules attached hereto as Exhibit I, Exhibit II, Exhibit III,
Exhibit IV, Exhibit V, Exhibit VI, Exhibit VII and Exhibit VIII (the "Mortgage
Loan Schedules") provides an accurate listing of the Assigned Mortgage Loans,
and the information with respect to each Assigned Mortgage Loan on the related
Mortgage Loan Schedule is true and correct in all material respects at the date
or dates respecting which such information is given;

        (b) No Assigned Mortgage Loan is more than 30 days delinquent as of the
Cut-off Date. The Seller has not waived any default, breach, violation or event
of acceleration, and the Seller has not taken any action to waive any default,
breach, violation or even of acceleration, with respect to any Assigned Mortgage
Loan;

        (c) There are no delinquent taxes, assessments that could become a lien
prior to the related Mortgage or insurance premiums affecting the related
Mortgaged Property;

        (d) With respect to each Assigned Mortgage Loan, the related Mortgage
has not been satisfied, canceled, subordinated or rescinded, in whole or in
part, and the related Mortgaged Property has not been released from the lien of
the Mortgage, in whole or in part, nor has any instrument been executed that
would effect any such satisfaction, cancellation, subordination, recission or
release;

        (e) With respect to each Assigned Mortgage Loan, there is no material
default, breach, violation or event of acceleration existing under any Mortgage
or the related Mortgage Note and no event which, with the passage of time or
with notice and the expiration of any grace or cure period, would constitute a
material default, breach, violation or event of acceleration, and neither the
Seller nor its predecessors have waived any material default, breach, violation
or event of acceleration;

                                       5

        (f) With respect to each Assigned Mortgage Loan, the related Mortgaged
Property is free of material damage that would affect adversely the value of the
Mortgaged Property as security for the Assigned Mortgage Loan or the use for
which the premises were intended;

        (g) With respect to each Assigned Mortgage Loan, to the best of the
Seller's knowledge, there is no proceeding pending for the total or partial
condemnation of the Mortgaged Property;

        (h) With respect to each Assigned Mortgage Loan, the related Mortgaged
Property is lawfully occupied under applicable law; all inspections, licenses
and certificates required to be made or issued with respect to all occupied
portions of each Mortgaged Property and, with respect to the use and occupancy
of the same, including but not limited to certificates of occupancy, have been
made or obtained from the appropriate authorities, except where the failure
would not have a material adverse effect upon the Assigned Mortgage Loan;

        (i) No Assigned Mortgage Loan is in foreclosure;

       (j) Each Assigned Mortgage Loan is a "qualified mortgage" within the
meaning of Section 860G of the Code and Treas. Reg ss. 1.860G-2;

        (k) Any and all requirements of any federal, state or local law
including, without limitation, usury, truth in lending, real estate settlement
procedures, consumer credit protections, all applicable predatory and abusive
lending laws, equal credit opportunity or disclosure laws applicable to the
origination and servicing of each Assigned Mortgage Loan have been complied
with;

        (l) Except with respect to each Assigned Mortgage Loan for which the
related Mortgage is recorded in the name of MERS, the Seller is the sole owner
of record and holder of the Assigned Mortgage Loan. With respect to each
Assigned Mortgage Loan, the related Mortgage Note and the Mortgage are not
assigned or pledged, and the Seller has good and marketable title thereto and
has full right and authority to transfer and sell the Assigned Mortgage Loan to
the Purchaser. The Seller is transferring the Assigned Mortgage Loan free and
clear of any and all encumbrances, liens, pledges, equities, participation
interests, claims, agreements with other parties to sell or otherwise transfer
the Assigned Mortgage Loan, charges or security interests of any nature
encumbering such Assigned Mortgage Loan;

        (m) With respect to each Assigned Mortgage Loan, the terms of the
Mortgage Note and Mortgage have not been impaired, waived, altered or modified
in any respect, except by a written instrument which has been recorded, if
necessary, to protect the interests of the Purchaser and maintain the lien
priority of the Mortgage and which has been delivered to the Purchaser or its
designee. The substance of any such waiver, alteration or modification has been
approved by the title insurer, to the extent required by the policy, and its
terms are reflected on the related Mortgage Loan Schedule. No instrument of
waiver, alteration or modification has been executed, and no Mortgagor has been
released, in whole or in part, except in connection with an assumption agreement
approved by the title insurer, to the extent required by the policy,

                                6

and which assumption agreement is part of the Mortgage File delivered to the
Purchaser or its designee and the terms of which are reflected on the related
Mortgage Loan Schedule;

        (n) The Seller has not dealt with any broker, investment banker, agent
or other Person (other than the Purchaser and Banc of America Securities LLC)
who may be entitled to any commission or compensation in connection with the
sale of the Assigned Mortgage Loans;

        (o) No Assigned Mortgage Loan (other than an Assigned Mortgage Loan that
is a New Jersey covered purchase loan originated on or after November 27, 2003
through July 6, 2004) is a High Cost Loan or Covered Loan, as applicable (as
such terms are defined in S&P's LEVELS(R) Glossary, which is now Version 5.6
Revised, Appendix E) and no Assigned Mortgage Loan originated on or after
October 1, 2002 through March 6, 2003 is governed by the Georgia Fair Lending
Act;

        (p) The hazard insurance policy on each Assigned Mortgage Loan has been
validly issued and is in full force and effect, and will be in full force and
effect and inure to the benefit of the Purchaser upon the consummation of the
transactions contemplated by this Agreement;

        (q) With respect to each Assigned Mortgage Loan, each Mortgage evidences
a valid, subsisting, enforceable and perfected first lien on the related
Mortgaged Property (including all improvements on the Mortgaged Property). The
lien of the Mortgage is subject only to: (1) liens of current real property
taxes and assessments not yet due and payable and, if the related Mortgaged
Property is a condominium unit, any lien for common charges permitted by
statute, (2) covenants, conditions and restrictions, rights of way, easements
and other matters of public record as of the date of recording of such Mortgage
acceptable to mortgage lending institutions in the area in which the related
Mortgaged Property is located and specifically referred to in the lender's title
insurance policy or attorney's opinion of title and abstract of title delivered
to the originator of such Mortgage Loan, and (3) such other matters to which
like properties are commonly subject which do not, individually or in the
aggregate, materially interfere with the benefits of the security intended to be
provided by the Mortgage. Any security agreement, chattel mortgage or equivalent
document related to, and delivered to the Trustee in connection with, a Mortgage
Loan establishes a valid, subsisting and enforceable first lien on the property
described therein and the Seller has, and the Purchaser will have, the full
right to sell and assign the same to the Trustee;

        (r) With respect to any Assigned Mortgage Loan covered by a title
insurance policy, the originator is the sole insured of such mortgagee title
insurance policy, such mortgagee title insurance policy is in full force and
effect and will inure to the benefit of the Purchaser upon the consummation of
the transactions contemplated by this Agreement, no claims have been made under
such mortgagee title insurance policy and no prior holder of the related
Mortgage, including the Seller, has done, by act or omission, anything that
would impair the coverage of such mortgagee title insurance policy; and

        (s) With respect to each Assigned Mortgage Loan, there are no mechanics'
or similar liens or claims which have been filed for work, labor or material
(and no rights are outstanding that under the law could give rise to such liens)
affecting the related Mortgaged

                                     7

Property which are or may be liens prior to, or equal or coordinate with, the
lien of the related Mortgage.

         Notwithstanding the foregoing, with respect to the Assigned Mortgage
Loans, no representations or warranties are made by the Seller as to the
environmental condition of any related Mortgaged Property; the absence, presence
or effect of hazardous wastes or hazardous substances on any related Mortgaged
Property; any casualty resulting from the presence or effect of hazardous wastes
or hazardous substances on, near or emanating from any related Mortgaged
Property; the impact on Certificateholders of any environmental condition or
presence of any hazardous substance on or near any related Mortgaged Property;
or the compliance of any related Mortgaged Property with any environmental laws,
nor is any agent, Person or entity otherwise affiliated with the Seller
authorized or able to make any such representation, warranty or assumption of
liability relative to any related Mortgaged Property. In addition, no
representations or warranties are made by the Seller with respect to the absence
or effect of fraud in the origination of any Assigned Mortgage Loan.

         The Seller hereby agrees that any cure of a breach of such
representations and warranties shall be in accordance with the terms of the
Pooling and Servicing Agreement.

        4. Representations and Warranties as to the BANA Mortgage Loans. The
Seller hereby represents and warrants to the Purchaser with respect to the BANA
Mortgage Loans or each BANA Mortgage Loan, as the case may be, as of the date
hereof or such other date set forth herein that as of the Closing Date:

           (a) The information set forth in the mortgage loan schedule attached
hereto as Exhibit VII (the "BANA Mortgage Loan Schedule") is true and correct in
all material respects;

           (b) There are no delinquent taxes, ground rents, governmental
assessments, insurance premiums, leasehold payments, including assessments
payable in future installments or other outstanding charges, affecting the lien
priority of the related Mortgaged Property (a "BANA Mortgaged Property");

           (c) The terms of the BANA Mortgage Notes and the related Mortgages
(each, a "BANA Mortgage") have not been impaired, waived, altered or modified in
any respect, except by written instruments, recorded in the applicable public
recording office if necessary to maintain the lien priority of the BANA
Mortgage, and which have been delivered to the custodian; the substance of any
such waiver, alteration or modification has been approved by the insurer under
the primary insurance policy, if any, the title insurer, to the extent required
by the related policy, and is reflected on the BANA Mortgage Loan Schedule. No
instrument of waiver, alteration or modification has been executed, and no
mortgagor of a BANA Mortgage Loan (a "BANA Mortgagor") has been released, in
whole or in part, except in connection with an assumption agreement approved by
the insurer under the Primary Mortgage Insurance Policy, if any, the title
insurer, to the extent required by the policy, and which assumption agreement
has been delivered to the Trustee;

          (d) The BANA Mortgage Notes and the BANA Mortgages are not subject to
any right of rescission, set-off, counterclaim or defense, including the defense
of usury, nor will

                                   8

the operation of any of the terms of the BANA Mortgage Notes and the BANA
Mortgages, or the exercise of any right thereunder, render either the BANA
Mortgage Notes or the BANA Mortgages unenforceable, in whole or in part, or
subject to any right of rescission, set-off, counterclaim or defense, including
the defense of usury and no such right of rescission, set-off, counterclaim or
defense has been asserted with respect thereto;

          (e) All buildings upon each BANA Mortgaged Property are insured by an
insurer generally acceptable to prudent mortgage lending institutions against
loss by fire, hazards of extended coverage and such other hazards as are
customary in the area the related BANA Mortgaged Property is located, pursuant
to insurance policies conforming to the requirements of Customary Servicing
Procedures and the Pooling and Servicing Agreement. All such insurance policies
contain a standard mortgagee clause naming the originator of the BANA Mortgage
Loan, its successors and assigns as mortgagee and all premiums thereon have been
paid. If the BANA Mortgaged Property is in an area identified on a flood hazard
map or flood insurance rate map issued by the Federal Emergency Management
Agency as having special flood hazards (and such flood insurance has been made
available), a flood insurance policy meeting the requirements of the current
guidelines of the Federal Insurance Administration is in effect which policy
conforms to the requirements of FNMA or FHLMC. The BANA Mortgage obligates the
mortgagor thereunder to maintain all such insurance at the mortgagor's cost and
expense, and on the mortgagor's failure to do so, authorizes the holder of the
BANA Mortgage to maintain such insurance at mortgagor's cost and expense and to
seek reimbursement therefor from the mortgagor;

           (f) Any and all requirements of any federal, state or local law
including, without limitation, usury, truth in lending, real estate settlement
procedures, consumer credit protections, all applicable predatory and abusive
lending laws, equal credit opportunity or disclosure laws applicable to the
origination and servicing of BANA Mortgage Loans have been complied with;

           (g) No BANA Mortgage has been satisfied, canceled, subordinated or
rescinded, in whole or in part (other than as to Principal Prepayments in full
which may have been received prior to the Closing Date), and no BANA Mortgaged
Property has been released from the lien of the related BANA Mortgage, in whole
or in part, nor has any instrument been executed that would effect any such
satisfaction, cancellation, subordination, rescission or release;

          (h) The BANA Mortgage is a valid, existing and enforceable first lien
on the BANA Mortgaged Property, including all improvements on the BANA Mortgaged
Property subject only to (A) the lien of current real property taxes and
assessments not yet due and payable, (B) covenants, conditions and restrictions,
rights of way, easements and other matters of the public record as of the date
of recording being acceptable to mortgage lending institutions generally and
specifically referred to in the lender's title insurance policy delivered to the
originator of the BANA Mortgage Loan and which do not adversely affect the
Appraised Value of the BANA Mortgaged Property, (C) if the BANA Mortgaged
Property consists of Cooperative Stock, any lien for amounts due to the
cooperative housing corporation for unpaid assessments or charges or any lien of
any assignment of rents or maintenance expenses secured by the real property
owned by the cooperative housing corporation, and (D) other matters to which
like

                                   9

properties are commonly subject which do not materially interfere with the
benefits of the security intended to be provided by the BANA Mortgage or the
use, enjoyment, value or marketability of the related BANA Mortgaged Property.
Any security agreement, chattel mortgage or equivalent document related to and
delivered in connection with the BANA Mortgage Loan establishes and creates a
valid, existing and enforceable first lien and first priority security interest
on the property described therein and the Seller has the full right to sell and
assign the same to the Purchaser;

           (i) The BANA Mortgage Note and the related BANA Mortgage are genuine
and each is the legal, valid and binding obligation of the maker thereof,
enforceable in accordance with its terms except as enforceability may be limited
by (A) bankruptcy, insolvency, liquidation, receivership, moratorium,
reorganization or other similar laws affecting the enforcement of the rights of
creditors and (B) general principles of equity, whether enforcement is sought in
a proceeding in equity or at law;

           (j) All parties to the BANA Mortgage Note and the BANA Mortgage had
legal capacity to enter into the BANA Mortgage Loan and to execute and deliver
the BANA Mortgage Note and the BANA Mortgage, and the BANA Mortgage Note and the
BANA Mortgage have been duly and properly executed by such parties;

           (k) The proceeds of the BANA Mortgage Loan have been fully disbursed
to or for the account of the related BANA Mortgagor and there is no obligation
for the mortgagee to advance additional funds thereunder and any and all
requirements as to completion of any on-site or off-site improvements and as to
disbursements of any escrow funds therefor have been complied with. All costs,
fees and expenses incurred in making or closing the BANA Mortgage Loan and the
recording of the BANA Mortgage have been paid, and the Mortgagor is not entitled
to any refund of any amounts paid or due to the mortgagee pursuant to the BANA
Mortgage Note or BANA Mortgage;

           (l) To the best of the Seller's knowledge, all parties which have had
any interest in the BANA Mortgage Loan, whether as mortgagee, assignee, pledgee
or otherwise, are (or, during the period in which they held and disposed of such
interest, were) in compliance with any and all applicable "doing business" and
licensing requirements of the laws of the state wherein the BANA Mortgaged
Property is located;

           (m) Either (A) the BANA Mortgage Loan is covered by an ALTA lender's
title insurance policy, acceptable to FNMA or FHLMC, issued by a title insurer
acceptable to FNMA or FHLMC and qualified to do business in the jurisdiction
where the BANA Mortgaged Property is located, insuring (subject to the
exceptions contained in (h)(A), (B), (C) and (D) above) the Seller, its
successors and assigns as to the first priority lien of the BANA Mortgage in the
original principal amount of the BANA Mortgage Loan, (B) a title search has been
done showing no lien (other than the exceptions contained in (h)(A), (B), (C)
and (D) above) on the BANA Mortgaged Property senior to the lien of the BANA
Mortgage or (C) in the case of any BANA Mortgage Loan secured by a BANA
Mortgaged Property located in a jurisdiction where such policies are generally
not available, an opinion of counsel of the type customarily rendered in such
jurisdiction in lieu of title insurance is instead received. For each BANA
Mortgage Loan covered by a title insurance policy (x) the Seller is the sole
insured of such lender's title

                                   10

insurance policy, and such lender's title insurance policy is in full force and
effect and will be in full force and effect upon the consummation of the
transactions contemplated by this Agreement and (y) no claims have been made
under such lender's title insurance policy, and the Seller has not done, by act
or omission, anything which would impair the coverage of such lender's title
insurance policy;

           (n) There is no default, breach, violation or event of acceleration
existing under the BANA Mortgage or the BANA Mortgage Note and no event which,
with the passage of time or with notice and the expiration of any grace or cure
period, would constitute a default, breach, violation or event of acceleration,
and the Seller has not waived any default, breach, violation or event of
acceleration;

           (o) As of the date of origination of the BANA Mortgage Loan, there
were no mechanics' or similar liens or claims filed for work, labor or material
(and no rights are outstanding that under law could give rise to such lien)
affecting the relating BANA Mortgaged Property which are or may be liens prior
to, or equal or coordinate with, the lien of the related BANA Mortgage;

           (p) All improvements which were considered in determining the
Appraised Value of the related BANA Mortgaged Property lay wholly within the
boundaries and building restriction lines of the BANA Mortgaged Property, and no
improvements on adjoining properties encroach upon the BANA Mortgaged Property;

           (q) The BANA Mortgage Loan was originated by a savings and loan
association, savings bank, commercial bank, credit union, insurance company, or
similar institution which is supervised and examined by a federal or state
authority, or by a mortgagee approved by the Secretary of Housing and Urban
Development pursuant to sections 203 and 211 of the National Housing Act;

           (r) Principal payments on the BANA Mortgage Loan commenced no more
than sixty days after the proceeds of the BANA Mortgaged Loan were disbursed.
The BANA Mortgage Loans are fixed-rate mortgage loans having an original term to
maturity of not more than 30 years, with interest payable in arrears on the
first day of the month. Each BANA Mortgage Note requires a monthly payment which
is sufficient to fully amortize the original principal balance over the original
term thereof and to pay interest at the related Mortgage Interest Rate. No BANA
Mortgage Note permits negative amortization;

           (s) There is no proceeding pending or, to the Seller's knowledge,
threatened for the total or partial condemnation of the BANA Mortgaged Property
and such property is in good repair and is undamaged by waste, fire, earthquake
or earth movement, windstorm, flood, tornado or other casualty, so as to affect
adversely the value of the BANA Mortgaged Property as security for the BANA
Mortgage Loan or the use for which the premises were intended;

           (t) The BANA Mortgage and related BANA Mortgage Note contain
customary and enforceable provisions such as to render the rights and remedies
of the holder thereof adequate for the realization against the BANA Mortgaged
Property of the benefits of the security provided thereby, including (A) in the
case of a BANA Mortgage designated as a deed

                                 11

of trust, by trustee's sale, and (B) otherwise by judicial foreclosure. To the
best of the Seller's knowledge, following the date of origination of the BANA
Mortgage Loan, the related BANA Mortgaged Property has not been subject to any
bankruptcy proceeding or foreclosure proceeding and the related BANA Mortgagor
has not filed for protection under applicable bankruptcy laws. There is no
homestead or other exemption or right available to the BANA Mortgagor or any
other person which would interfere with the right to sell the BANA Mortgaged
Property at a trustee's sale or the right to foreclose the BANA Mortgage;

           (u) With respect to the BANA Mortgage Loans, each BANA Mortgage Note
and BANA Mortgage are on forms acceptable to FNMA or FHLMC;

           (v) With respect to the BANA Mortgage Loans, the BANA Mortgage Note
is not and has not been secured by any collateral except the lien of the
corresponding BANA Mortgage on the BANA Mortgaged Property and the security
interest of any applicable security agreement or chattel mortgage referred to in
(h) above;

           (w) Each appraisal of the related BANA Mortgaged Property is in a
form acceptable to FNMA or FHLMC and such appraisal complies with the
requirements of FIRREA, and was made and signed, prior to the approval of the
BANA Mortgage Loan application, by an appraiser who met the qualifications of
Fannie Mae or Freddie Mac and satisfied this requirements of Title XI of FIRREA;

           (x) In the event the BANA Mortgage constitutes a deed of trust, a
trustee, duly qualified under applicable law to serve as such, has been properly
designated and currently so serves, and no fees or expenses are or will become
payable by the Trustee to the trustee under the deed of trust, except in
connection with a trustee's sale after default by the Mortgagor;

           (y) No BANA Mortgage Loan is a graduated payment mortgage loan, no
BANA Mortgage Loan has a shared appreciation or other contingent interest
feature, and no BANA Mortgage Loan contains any "buydown" provision;

          (z) The BANA Mortgagor has received all disclosure materials required
by applicable law with respect to the making of mortgage loans of the same type
as the BANA Mortgage Loan and rescission materials required by applicable law if
the BANA Mortgage Loan is a refinanced mortgage loan, i.e., the proceeds of such
BANA Mortgage Loan were not used to purchase the related Mortgaged Property;

           (aa) Each Primary Mortgage Insurance Policy to which any BANA
Mortgage Loan is subject will be issued by an insurer acceptable to FNMA or
FHLMC, which insures that portion of the BANA Mortgage Loan in excess of the
portion of the Appraised Value of the BANA Mortgaged Property required by FNMA
or FHLMC. All provisions of such Primary Mortgage Insurance Policy have been and
are being complied with, such policy is in full force and effect, and all
premiums due thereunder have been paid. Any BANA Mortgage subject to any such
Primary Mortgage Insurance Policy obligates the Mortgagor thereunder to maintain
such insurance and to pay all premiums and charges in connection therewith at
least until Loan-to-Value Ratio of such BANA Mortgage Loan is reduced to less
than 80%. The Mortgage Interest Rate for the BANA Mortgage Loan does not include
any such insurance premium;

                                      12

           (bb) To the best of the Seller's knowledge as of the date of
origination of the BANA Mortgage Loan, (A) the BANA Mortgaged Property is
lawfully occupied under applicable law, (B) all inspections, licenses and
certificates required to be made or issued with respect to all occupied portions
of the BANA Mortgaged Property and, with respect to the use and occupancy of the
same, including but not limited to certificates of occupancy, have been made or
obtained from the appropriate authorities and (C) no improvement located on or
part of the BANA Mortgaged Property is in violation of any zoning law or
regulation;

           (cc) With respect to each BANA Mortgage Loan, the related Assignment
of Mortgage (except with respect to any BANA Mortgage that has been recorded in
the name of MERS or its designee) is in recordable form and is acceptable for
recording under the laws of the jurisdiction in which the related BANA Mortgaged
Property is located;

           (dd) All payments required to be made prior to the Cut-off Date for
such BANA Mortgage Loan under the terms of the BANA Mortgage Note have been made
and no BANA Mortgage Loan has been more than 30 days delinquent more than once
in the twelve month period immediately prior to the Cut-off Date;

           (ee) With respect to each BANA Mortgage Loan, the Seller is in
possession of a complete BANA Mortgage File except for the documents which have
been delivered to the Trustee or which have been submitted for recording and not
yet returned;

           (ff) Except with respect to each BANA Mortgage Loan for which the
related Mortgage is recorded in the name of MERS, immediately prior to the
transfer and assignment contemplated herein, the Seller was the sole owner of
record and holder of the BANA Mortgage Loan. With respect to the BANA Mortgage
Loans, the BANA Mortgage Loans were not assigned or pledged by the Seller and
the Seller had good and marketable title thereto, and the Seller had full right
to transfer and sell the BANA Mortgage Loans to the Trustee free and clear of
any encumbrance, participation interest, lien, equity, pledge, claim or security
interest and had full right and authority subject to no interest or
participation in, or agreement with any other party to sell or otherwise
transfer the BANA Mortgage Loans;

           (gg) With respect to the BANA Mortgage Loans, any future advances
made prior to the Cut-off Date have been consolidated with the outstanding
principal amount secured by the BANA Mortgage, and the secured principal amount,
as consolidated, bears a single interest rate and single repayment term. With
respect to each BANA Mortgage Loan, the lien of the related BANA Mortgage
securing the consolidated principal amount is expressly insured as having first
lien priority by a title insurance policy, an endorsement to the policy insuring
the mortgagee's consolidated interest or by other title evidence acceptable to
FNMA and FHLMC. The consolidated principal amount does not exceed the original
principal amount of the BANA Mortgage Loan;

           (hh) The BANA Mortgage Loan was underwritten in accordance with the
applicable underwriting guidelines in effect at the time of origination with
exceptions thereto exercised in a reasonable manner;

                                   13

           (ii) If the BANA Mortgage Loan is secured by a long-term residential
lease, (1) the lessor under the lease holds a fee simple interest in the land;
(2) the terms of such lease expressly permit the mortgaging of the leasehold
estate, the assignment of the lease without the lessor's consent and the
acquisition by the holder of the BANA Mortgage of the rights of the lessee upon
foreclosure or assignment in lieu of foreclosure or provide the holder of the
BANA Mortgage with substantially similar protections; (3) the terms of such
lease do not (a) allow the termination thereof upon the lessee's default without
the holder of the BANA Mortgage being entitled to receive written notice of, and
opportunity to cure, such default, (b) allow the termination of the lease in the
event of damage or destruction as long as the BANA Mortgage is in existence, (c)
prohibit the holder of the BANA Mortgage from being insured (or receiving
proceeds of insurance) under the hazard insurance policy or policies relating to
the BANA Mortgaged Property or (d) permit any increase in the rent other than
pre-established increases set forth in the lease; (4) the original term of such
lease in not less than 15 years; (5) the term of such lease does not terminate
earlier than five years after the maturity date of the BANA Mortgage Note; and
(6) the BANA Mortgaged Property is located in a jurisdiction in which the use of
leasehold estates in transferring ownership in residential properties is a
widely accepted practice;

           (jj) With respect to each BANA Mortgage Loan, the related BANA
Mortgaged Property is located in the state identified in the BANA Mortgage Loan
Schedule and consists of a parcel of real property with a detached single family
residence erected thereon, or a two- to four-family dwelling, or an individual
condominium unit, or an individual unit in a planned unit development, or, in
the case of BANA Mortgage Loans secured by Cooperative Stock, leases or
occupancy agreements; provided, however, that any condominium project or planned
unit development generally conforms with the applicable underwriting guidelines
regarding such dwellings, and no residence or dwelling is a mobile home or a
manufactured dwelling;

           (kk) The Seller used no adverse selection procedures in selecting the
BANA Mortgage Loan for inclusion in the Trust Estate;

           (ll) Each BANA Mortgage Loan is a "qualified mortgage" within Section
860G(a)(3) of the Code;

           (mm) With respect to each BANA Mortgage where a lost note affidavit
has been delivered to the Trustee in place of the related BANA Mortgage Note,
the related BANA Mortgage Note is no longer in existence;

           (nn) No BANA Mortgage Loan is a "high cost" loan as defined under any
federal, state or local law applicable to such BANA Mortgage Loan at the time of
its origination; and

           (oo) No BANA Mortgage Loan (other than a BANA Mortgage Loan that is a
New Jersey covered purchase loan originated on or after November 27, 2003
through July 6, 2004) is a High Cost Loan or Covered Loan, as applicable (as
such terms are defined in the then current S&P's LEVELS(R) Glossary, which is
now Version 5.6(c) Revised, Appendix E) and no

                                  14

BANA Mortgage Loan originated on or after October 1, 2002 through March 6, 2003
is governed by the Georgia Fair Lending Act.

         Notwithstanding the foregoing, no representations or warranties are
made by the Seller as to the environmental condition of any BANA Mortgaged
Property; the absence, presence or effect of hazardous wastes or hazardous
substances on any BANA Mortgaged Property; any casualty resulting from the
presence or effect of hazardous wastes or hazardous substances on, near or
emanating from any BANA Mortgaged Property; the impact on Certificateholders of
any environmental condition or presence of any hazardous substance on or near
any BANA Mortgaged Property; or the compliance of any BANA Mortgaged Property
with any environmental laws, nor is any agent, Person or entity otherwise
affiliated with the Seller authorized or able to make any such representation,
warranty or assumption of liability relative to any BANA Mortgaged Property. In
addition, no representations or warranties are made by the Seller with respect
to the absence or effect of fraud in the origination of any BANA Mortgage Loan.

         It is understood and agreed that the representations and warranties set
forth in this Section shall survive delivery of the respective BANA Mortgage
Files to the Trustee or the Custodian and shall inure to the benefit of the
Trustee, notwithstanding any restrictive or qualified endorsement or assignment.

         5. No Broker's Fees. The Seller hereby represents and warrants to the
Purchaser that the Seller has not dealt with any broker, investment banker,
agent or other Person (other than the Purchaser and Banc of America Securities
LLC) who may be entitled to any commission or compensation in connection with
the sale of the Mortgage Loans.

         6. Repurchase or Substitution. Upon discovery by the Seller, the
Purchaser, the Trustee or any assignee, transferee or designee of the Trustee of
a missing or defective document in the Mortgage File, as provided in Section 2
of this Agreement or the Pooling and Servicing Agreement or a breach of any of
the representations and warranties set forth in Section 3 and Section 4 (to the
extent provided therein) that materially and adversely affects the value of any
Mortgage Loan or the interest therein of the Purchaser or the Purchaser's
assignee, the party discovering such breach shall give prompt written notice to
the others. Within 90 days after the earlier of the Seller's discovery or
receipt of notification of such missing or defective document or breach of a
representation and warranty, the Seller shall promptly cure such breach in all
material respects, or in the event such missing or defective document or breach
cannot be cured, the Seller shall repurchase the affected Mortgage Loan.
Alternatively, the Seller hereby agrees, if so requested by the Purchaser, to
substitute for any such Mortgage Loan, a new mortgage loan having
characteristics such that the representations and warranties referred to in
Section 3 (to the extent provided therein) or Section 4, as applicable, above
would not have been incorrect (except for representations and warranties as to
the correctness of the related Mortgage Loan Schedule) had such substitute
mortgage loan originally been a Mortgage Loan. The Seller further agrees that a
substituted mortgage loan will have on the date of substitution the criteria set
forth in the definition of "Substitute Mortgage Loan" in the Pooling and
Servicing Agreement and will comply with the substitution provisions of Section
2.02 of the Pooling and Servicing Agreement. The Seller shall remit to the
Purchaser, in cash, the difference between the unpaid principal

                                    15

balance of the Mortgage Loan to be substituted and the unpaid principal balance
of the substitute mortgage loan.

                  If the breach of the representation set forth in clauses (k)
and (o) of Section 3 herein or in clauses (f) and (oo) of Section 4 herein
occurs as a result of a violation of an applicable predatory or abusive lending
law, the Seller agrees to reimburse the Purchaser for all costs and damages
incurred by the Purchaser as a result of the violation of such law; provided
that, with respect to any Assigned Mortgage Loan, the Seller has no obligation
to reimburse the Purchaser for any such costs and damages that are reimbursed by
a Servicer.

                  The Purchaser acknowledges and agrees that it shall have no
rights against the Seller under this Section 6, except with respect to the
preceding paragraph, if the breach of any representation or warranty also
constitutes a breach of a representation or warranty made by a Servicer under
the related Transfer Agreement, but shall instead enforce its rights against
such Servicer.

        7. Underwriting; Sponsorship.

          (a) The Seller hereby agrees to furnish any and all information,
documents, certificates, letters or opinions with respect to the mortgage loans,
reasonably requested by the Purchaser in order to perform any of its obligations
or satisfy any of the conditions on its part to be performed or satisfied
pursuant to the Underwriting Agreement or the Purchase Agreement at or prior to
the Closing Date.

          (b) For so long as the Securities Administrator is required to file
any report with the Commission pursuant to Section 3.22 of the Pooling and
Servicing Agreement, the Seller shall furnish to the Securities Administrator,
on the first Business Day of each calendar month, the "significance estimate" of
the Yield Maintenance Agreement calculated in accordance with Item 1115 of
Regulation AB as of the last Business Day of the immediately preceding calendar
month.

       8. Costs. The Purchaser shall pay all expenses incidental to the
performance of its obligations under the Underwriting Agreement and the Purchase
Agreement, including without limitation (i) any recording fees or fees for title
policy endorsements and continuations, (ii) the expenses of preparing, printing
and reproducing the Prospectus, the Prospectus Supplement, the Underwriting
Agreement, the Private Placement Memorandum, the Purchase Agreement, the Pooling
and Servicing Agreement and the Certificates and (iii) the cost of delivering
the Certificates to the offices of or at the direction of Banc of America
Securities LLC insured to the satisfaction of Banc of America Securities LLC.

       9. Notices. All demands, notices and communications hereunder shall be in
writing, shall be effective only upon receipt and shall, if sent to the
Purchaser, be addressed to it at Banc of America Funding Corporation, 214 North
Tryon Street, Charlotte, North Carolina, 28255, Attention: General Counsel with
a copy to the Chief Financial Officer, or if sent to the Seller, be addressed to
it at Bank of America, National Association, 100 North Tryon Street, Charlotte,
North Carolina, 28255, Attention: General Counsel with a copy to the Treasurer.

                                   16

        10. Trustee Assignee. The Seller acknowledges the assignment of the
Purchaser's rights hereunder to the Trustee on behalf of the Trust and that the
representations, warranties and agreements made by the Seller in this Agreement
may be enforced by the Securities Administrator, on behalf of the Trust, against
the Seller.

        11. Recharacterization. The parties to this Agreement intend the
conveyance by the Seller to the Purchaser of all of its right, title and
interest in and to the Mortgage Loans pursuant to this Agreement to constitute a
purchase and sale and not a loan. Notwithstanding the foregoing, to the extent
that such conveyance is held not to constitute a sale under applicable law, it
is intended that this Agreement shall constitute a security agreement under
applicable law and that the Seller shall be deemed to have granted to the
Purchaser a first priority security interest in all of the Seller's right, title
and interest in and to the Mortgage Loans.

       12. Miscellaneous. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York without regard to the conflict
of law provisions. Neither this Agreement nor any term hereof may be changed,
waived, discharged or terminated except by a writing signed by the party against
whom enforcement of such change, waiver, discharge or termination is sought.
This Agreement may not be changed in any manner which would have a material
adverse effect on Holders of Certificates without the prior written consent of
the Trustee. The Trustee shall be protected in consenting to any such change to
the same extent provided in Article IX of the Pooling and Servicing Agreement.
This Agreement may be signed in any number of counterparts, each of which shall
be deemed an original, which taken together shall constitute one and the same
instrument. This Agreement shall bind and inure to the benefit of and be
enforceable by the Purchaser and the Seller and their respective successors and
assigns.

                                    17

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

                               BANC OF AMERICA FUNDING CORPORATION

                               By:    /s/ Scott Evans
                                      ---------------------------------------
                               Name:  Scott Evans
                               Title: Senior Vice President

                               BANK OF AMERICA, NATIONAL ASSOCIATION

                               By:    /s/ Bruce W. Good
                                      ---------------------------------------
                               Name:  Bruce W. Good
                               Title: Vice President

            [Signature Page to the Mortgage Loan Purchase Agreement]

                                    EXHIBIT I

                           GMAC MORTGAGE LOAN SCHEDULE

                  [See separate Excel file on Closing Binder CD]

                                    I-1

                                   EXHIBIT II

                      NATIONAL CITY MORTGAGE LOAN SCHEDULE

               [See separate Excel file on Closing Binder CD]

                                 II-1

                                   EXHIBIT III

                           PHH MORTGAGE LOAN SCHEDULE

                  [See separate Excel file on Closing Binder CD]

                                  III-1

                                   EXHIBIT IV

                           RFC MORTGAGE LOAN SCHEDULE

                  [See separate Excel file on Closing Binder CD]

                                     IV-1

                                    EXHIBIT V

                         SUNTRUST MORTGAGE LOAN SCHEDULE

                  [See separate Excel file on Closing Binder CD]

                                  V-1

                                   EXHIBIT VI

                           WAMU MORTGAGE LOAN SCHEDULE

                  [See separate Excel file on Closing Binder CD]

                                    VI-1

                                   EXHIBIT VII

                     WELLS FARGO BANK MORTGAGE LOAN SCHEDULE

                  [See separate Excel file on Closing Binder CD]

                                       VII-1

                                  EXHIBIT VIII

                           BANA MORTGAGE LOAN SCHEDULE

                    [See separate Excel file on Closing Binder CD]

                                VIII-1

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