Document:

Unassociated Document

     

    STRUCTURED
      ASSET MORTGAGE INVESTMENTS II INC.,

    DEPOSITOR

     

    U.S.
      BANK
      NATIONAL ASSOCIATION,

    TRUSTEE

     

    WELLS
      FARGO BANK, N.A.,

    MASTER
      SERVICER AND SECURITIES ADMINISTRATOR

     

    and

     

    EMC
      MORTGAGE CORPORATION,

    SELLER

     

    POOLING
      AND SERVICING AGREEMENT

     

    Dated
      as
      of May 1, 2006

     

    Structured
      Asset Mortgage Investments II Inc.

    Bear
      Stearns ARM Trust, Mortgage Pass-Through Certificates

     

    Series
      2006-2

    
      
        
          
            	 	 	 

          

           

        

        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    TABLE
      OF
      CONTENTS

     

     

    ARTICLE
      I
DEFINITIONS

     

    ARTICLE
      II CONVEYANCE
      OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

    Section
      2.01 Conveyance
      of Mortgage Loans to Trustee.

    Section
      2.02 Acceptance
      of Mortgage Loans by Trustee.

    Section
      2.03 Assignment
      of Interest in the Mortgage Loan Purchase Agreement.

    Section
      2.04 Substitution
      of Mortgage Loans.

    Section
      2.05 Issuance
      of Certificates.

    Section
      2.06 Representations
      and Warranties Concerning the Depositor.

     

    ARTICLE
      III ADMINISTRATION
      AND SERVICING OF MORTGAGE LOANS

    Section
      3.01 Master
      Servicer.

    Section
      3.02 REMIC-Related
      Covenants.

    Section
      3.03 Monitoring
      of Servicers.

    Section
      3.04 Fidelity
      Bond.

    Section
      3.05 Power
      to
      Act; Procedures.

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

    Section
      3.07 Release
      of Mortgage Files.

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

    Section
      3.09 Standard
      Hazard Insurance and Flood Insurance Policies.

    Section
      3.10 Presentment
      of Claims and Collection of Proceeds.

    Section
      3.11 Maintenance
      of the Primary Mortgage Insurance Policies.

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

    Section
      3.13 Realization
      Upon Defaulted Mortgage Loans.

    Section
      3.14 Compensation
      for the Master Servicer.

    Section
      3.15 REO
      Property.

    Section
      3.16 Annual
      Officer’s Certificate as to Compliance.

    Section
      3.17 Annual
      Independent Accountant’s Servicing Report.

    Section
      3.18 Reports
      Filed with Securities and Exchange Commission.

    Section
      3.19 UCC.

    Section
      3.20 Optional
      Purchase of Defaulted Mortgage Loans.

     

    ARTICLE
      IV ACCOUNTS

    Section
      4.01 Protected
      Accounts.

    Section
      4.02 [Reserved].

    Section
      4.03 [Reserved].

    Section
      4.04 Distribution
      Account.

    Section
      4.05 Permitted
      Withdrawals and Transfers from the Distribution Account.

     

    ARTICLE
      V
CERTIFICATES

    Section
      5.01 Certificates.

    Section
      5.02 Registration
      of Transfer and Exchange of Certificates.

    Section
      5.03 Mutilated,
      Destroyed, Lost or Stolen Certificates.

    Section
      5.04 Persons
      Deemed Owners.

    Section
      5.05 Transfer
      Restrictions on Residual Certificates.

    Section
      5.06 Restrictions
      on Transferability of Certificates.

    Section
      5.07 ERISA
      Restrictions.

    Section
      5.08 Rule
      144A
      Information.

    Section
      5.09 Appointment
      of Paying Agent and Certificate Registrar.

     

    ARTICLE
      VI PAYMENTS
      TO CERTIFICATEHOLDERS

    Section
      6.01 Distributions
      on the Certificates.

    Section
      6.02 Allocation
      of Losses.

    Section
      6.03 Payments.

    Section
      6.04 Statements
      to Certificateholders.

    Section
      6.05 Monthly
      Advances.

    Section
      6.06 Compensating
      Interest Payments.

     

    ARTICLE
      VII THE
      MASTER SERVICER

    Section
      7.01 Liabilities
      of the Master Servicer.

    Section
      7.02 Merger
      or
      Consolidation of the Master Servicer.

    Section
      7.03 Indemnification
      of the Trustee, the Master Servicer and the Securities
      Administrator.

    Section
      7.04 Limitations
      on Liability of the Master Servicer and Others.

    Section
      7.05 Master
      Servicer Not to Resign.

    Section
      7.06 Successor
      Master Servicer.

    Section
      7.07 Sale
      and
      Assignment of Master Servicing.

     

    ARTICLE
      VIII DEFAULT

    Section
      8.01 Events
      of
      Default.

    Section
      8.02 Trustee
      to Act; Appointment of Successor.

    Section
      8.03 Notification
      to Certificateholders.

    Section
      8.04 Waiver
      of
      Defaults.

    Section
      8.05 List
      of
      Certificateholders.

     

    ARTICLE
      IX CONCERNING
      THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

    Section
      9.01 Duties
      of
      Trustee.

    Section
      9.02 Certain
      Matters Affecting the Trustee and the Securities Administrator.

    Section
      9.03 Trustee
      and Securities Administrator Not Liable for Certificates or Mortgage
      Loans.

    Section
      9.04 Trustee
      and Securities Administrator May Own Certificates.

    Section
      9.05 Trustee’s
      and Securities Administrator’s Fees and Expenses.

    Section
      9.06 Eligibility
      Requirements for Trustee, Paying Agent and Securities
      Administrator.

    Section
      9.07 Insurance.

    Section
      9.08 Resignation
      and Removal of the Trustee and Securities Administrator.

    Section
      9.09 Successor
      Trustee, Successor Paying Agent and Successor Securities
      Administrator.

    Section
      9.10 Merger
      or
      Consolidation of Trustee, Paying Agent or Securities Administrator.

    Section
      9.11 Appointment
      of Co-Trustee or Separate Trustee.

    Section
      9.12 Federal
      Information Returns and Reports to Certificateholders; REMIC
      Administration.

     

    ARTICLE
      X
TERMINATION

    Section
      10.01 Termination
      Upon Repurchase by the Depositor or its Designee or Liquidation of the Mortgage
      Loans.

    Section
      10.02 Additional
      Termination Requirements.

     

    ARTICLE
      XI [RESERVED]

     

    ARTICLE
      XII MISCELLANEOUS
      PROVISIONS

    Section
      12.01 Intent
      of
      Parties.

    Section
      12.02 Amendment.

    Section
      12.03 Recordation
      of Agreement.

    Section
      12.04 Limitation
      on Rights of Certificateholders.

    Section
      12.05 Acts
      of
      Certificateholders.

    Section
      12.06 Governing
      Law.

    Section
      12.07 Notices.

    Section
      12.08 Severability
      of Provisions.

    Section
      12.09 Successors
      and Assigns.

    Section
      12.10 Article
      and Section Headings.

    Section
      12.11 Counterparts.

    Section
      12.12 Notice
      to
      Rating Agencies.

    

    EXHIBITS

     

    
      	
              Exhibit
                A-1

            	
              -

            	
              Form
                of Class A Certificates and Class X Certificates
                

            

    

    
      	
              Exhibit
                A-2

            	
              -

            	
              Form
                of Class B Certificates

            

    

    
      	
              Exhibit
                A-3

            	
              -

            	
              Form
                of Class R Certificates

            

    

    
      	
              Exhibit
                B

            	
              -

            	
              Mortgage
                Loan Schedule

            

    

    
      	
              Exhibit
                C

            	
              -

            	
              [Reserved]

            

    

    
      	
              Exhibit
                D

            	
              -

            	
              Request
                for Release of Documents

            

    

    
      	
              Exhibit
                E

            	
              -

            	
              Form
                of Affidavit pursuant to Section
                860E(e)(4)

            

    

    
      	
              Exhibit
                F-1

            	
              -

            	
              Form
                of Investment Letter

            

    

    
      	
              Exhibit
                F-2

            	
              -

            	
              Form
                of Rule 144A and Related Matters
                Certificate

            

    

    
      	
              Exhibit
                G

            	
              -

            	
              Form
                of Custodial Agreement

            

    

    
      	
              Exhibit
                H-1 to H-4

            	
              -

            	
              Servicing
                Agreements

            

    

    
      	
              Exhibit
                I

            	
              -

            	
              Assignment
                Agreements

            

    

    
      	
              Exhibit
                J

            	
              -

            	
              Mortgage
                Loan Purchase Agreement

            

    

    
      	
              Exhibit
                K

            	
              -

            	
              [Reserved]

            

    

    
      	
              Exhibit
                L

            	
              -

            	
              [Reserved]

            

    

    
      	
              Exhibit
                M

            	 	
              Servicing
                Criteria to Be Addressed in Assessment of
                Compliance

            

    

    
      	
              Exhibit
                N

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

            

    

    
      	
              Exhibit
                O

            	 	
              Additional
                Disclosure Notification

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    POOLING
      AND SERVICING AGREEMENT

     

    Pooling
      and Servicing Agreement dated as of May 1, 2006, among Structured Asset Mortgage
      Investments II Inc., a Delaware corporation, as depositor (the “Depositor”),
      U.S. Bank National Association, a national banking association, as trustee
      (the
“Trustee”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the
“Master Servicer”) and as securities administrator (in such capacity, the
“Securities Administrator”), and EMC Mortgage Corporation, as seller (in such
      capacity, the “Seller”).

     

    PRELIMINARY
      STATEMENT

     

    On
      or
      prior to the Closing Date, the Depositor acquired the Mortgage Loans from the
      Seller. On the Closing Date, the Depositor will sell the Mortgage Loans and
      certain other property to the Trust Fund and receive in consideration therefor
      Certificates evidencing the entire beneficial ownership interest in the Trust
      Fund. 

     

    The
      Trustee on behalf of the Trust shall make an election for the assets
      constituting REMIC I to be treated for federal income tax purposes as a REMIC.
      On the Startup Day, the REMIC I Regular Interests will be designated the
“regular interests” in such REMIC, and the Class R-I Certificates will be
      designated the sole class of “residual interests” in such REMIC.

     

    The
      Trustee on behalf of the Trust shall make an election for the assets
      constituting REMIC II to be treated for federal income tax purposes as a REMIC.
      On the Startup Day, the REMIC II Regular Interests will be designated the
“regular interests” in such REMIC, and the Class R-II Certificates will be
      designated the sole class of “residual interests” in such REMIC.

     

    The
      Trustee on behalf of the Trust shall make an election for the assets
      constituting REMIC III to be treated for federal income tax purposes as a REMIC.
      On the Startup Day, the Regular Certificates will be designated the “regular
      interests” in such REMIC, and the Class R-III Certificates will be designated
      the sole class of “residual interests” in such REMIC.

     

    The
      Mortgage Loans will have an Outstanding Principal Balance as of the Cut-off
      Date, after deducting all Scheduled Principal due on or before the Cut-off
      Date,
      of $1,186,926,935.75. The initial principal amount of the Certificates will
      not
      exceed such Outstanding Principal Balance. The Group I Mortgage Loans will
      have
      an Outstanding Principal Balance as of the Cut-off Date, after deducting all
      Scheduled Principal due on or before the Cut-off Date, of $57,194,722.80. The
      Group II Mortgage Loans will have an Outstanding Principal Balance as of the
      Cut-off Date, after deducting all Scheduled Principal due on or before the
      Cut-off Date, of $611,499,746.08. The Group III Mortgage Loans will have an
      Outstanding Principal Balance as of the Cut-off Date, after deducting all
      Scheduled Principal due on or before the Cut-off Date, of $216,658,543.71.
      The
      Group IV Mortgage Loans will have an Outstanding Principal Balance as of the
      Cut-off Date, after deducting all Scheduled Principal due on or before the
      Cut-off Date, of $301,573,923.16.

     

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

     

    ARTICLE
      I

     

    DEFINITIONS

     

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

     

    Accepted
      Master Servicing Practices:
      With
      respect to any Mortgage Loan, those customary mortgage servicing practices
      of
      prudent mortgage servicing institutions that master service mortgage loans
      of
      the same type and quality as such Mortgage Loan in the jurisdiction where the
      related Mortgaged Property is located, to the extent applicable to the Trustee
      or the Master Servicer (except in its capacity as successor to a
      Servicer).

     

    Account:
      The
      Distribution Account and the Protected Account as the context may
      require.

     

    Accrued
      Certificate Interest:
      For any
      Certificate, other than the Class R Certificates, for any Distribution Date,
      the
      interest accrued during the related Interest Accrual Period at the applicable
      Pass-Through Rate on the Current Principal Amount, or in the case of the
      Interest Only Certificates, the Notional Amount, of such Certificate immediately
      prior to such Distribution Date, on the basis of a 360-day year consisting
      of
      twelve 30-day months, less (i) in the case of a Senior Certificate, such
      Certificate’s share of any Net Interest Shortfall from the related Mortgage
      Loans and, after the Cross-Over Date, the interest portion of any Realized
      Losses on the related Mortgage Loans allocated thereto in accordance with
      Section 6.02(g) and (ii) in the case of a Subordinate Certificate, such
      Certificate’s share of any Net Interest Shortfall from the related Mortgage
      Loans and the interest portion of any Realized Losses on the related Mortgage
      Loans allocated thereto in accordance with Section 6.02(g).

     

    Additional
      Disclosure:
      As
      defined in Section 3.18.

     

    Additional
      Form 10-D Disclosure:
      As
      defined in Section 3.18. 

     

    Additional
      Form 10-K Disclosure:
      As
      defined in Section 3.18.

     

    Affiliate:
      As to
      any Person, any other Person controlling, controlled by or under common control
      with such Person. “Control” means the power to direct the management and
      policies of a Person, directly or indirectly, whether through ownership of
      voting securities, by contract or otherwise. “Controlled” and “Controlling” have
      meanings correlative to the foregoing. The Trustee may conclusively presume
      that
      a Person is not an Affiliate of another Person unless a Responsible Officer
      of
      the Trustee has actual knowledge to the contrary.

     

    Aggregate
      Expense Rate:
      With
      respect to any Mortgage Loan, the sum of the Servicing Fee Rate and the
      Lender-Paid PMI Rate (if applicable).

     

    Agreement:
      This
      Pooling and Servicing Agreement and all amendments hereof and supplements
      hereto.

     

    Allocable
      Share:
      With
      respect to each Class of Subordinate Certificates:

     

    (a) as
      to any
      Distribution Date and amounts distributable pursuant to clauses (i) and (iv)
      of
      the definition of Subordinate Optimal Principal Amount, the fraction, expressed
      as a percentage, the numerator of which is the Current Principal Amount of
      such
      Class and the denominator of which is the aggregate Current Principal Amount
      of
      all Classes of the Subordinate Certificates; and

     

    (b) as
      to any
      Distribution Date and amounts distributable pursuant to clauses (ii), (iii)
      and
      (v) of the definition of Subordinate Optimal Principal Amount, and as to each
      Class of Subordinate Certificates (other than the Class of Subordinate
      Certificates having the lowest numerical designation as to which the Class
      Prepayment Distribution Trigger shall not be applicable) for which (x) the
      Class
      Prepayment Distribution Trigger has been satisfied on such Distribution Date,
      the fraction, expressed as a percentage, the numerator of which is the Current
      Principal Amount of such Class and the denominator of which is the aggregate
      Current Principal Amount of all such Classes of Subordinate Certificates and
      (y)
      the Class Prepayment Distribution Trigger has not been satisfied on such
      Distribution Date, 0%; provided that if on a Distribution Date, the Current
      Principal Amount of any Class of Subordinate Certificates for which the Class
      Prepayment Distribution Trigger was satisfied on such Distribution Date is
      reduced to zero, any amounts distributed pursuant to this clause (b), to the
      extent of such Class’s remaining Allocable Share, shall be distributed to the
      remaining Classes of Subordinate Certificates which satisfy the Class Prepayment
      Distribution Trigger and to the Class of Subordinate Certificates having the
      lowest numerical Class designation in reduction of their respective Current
      Principal Amounts in the order of their numerical Class
      designations.

     

    Annual
      Statement of Compliance:
      As
      defined in Section 3.16.

     

    Applicable
      Credit Rating:
      For any
      long-term deposit or security, a credit rating of AAA in the case of each of
      S&P and Fitch. For any short-term deposit or security, a rating of A-l+ in
      the case of S&P or F-1+ in the case of Fitch.

     

    Applicable
      State Law:
      For
      purposes of Section 9.12(d), the Applicable State Law shall be (a) the law
      of
      the State of New York and (b) such other state law whose applicability shall
      have been brought to the attention of the Securities Administrator and the
      Trustee by either (i) an Opinion of Counsel reasonably acceptable to the
      Securities Administrator and the Trustee delivered to it by the Master Servicer
      or the Depositor, or (ii) written notice from the appropriate taxing authority
      as to the applicability of such state law.

     

    Appraised
      Value:
      For any
      Mortgaged Property related to a Mortgage Loan, the amount set forth as the
      appraised value of such Mortgaged Property in an appraisal made for the mortgage
      originator in connection with its origination of the related Mortgage
      Loan.

     

    Assignment
      Agreements:
      The
      agreements attached hereto as Exhibit I, whereby the Servicing Agreements were
      assigned to the Trustee for the benefit of the Certificateholders.

     

    Assessment
      of Compliance:
      As
      defined in Section 3.17.

     

    Assumed
      Final Distribution Date:
      July
      25, 2036, or if such day is not a Business Day, the next succeeding Business
      Day.

     

    Attesting
      Party:
      As
      defined in Section 3.17.

     

    Attestation
      Report:
      As
      defined in Section 3.17.

     

    Available
      Funds:
      With
      respect to any Distribution Date, the sum of the Group I, Group II, Group III
      and Group IV Available Funds for such Distribution Date.

     

    Average
      Loss Severity Percentage:
      With
      respect to any Distribution Date and each Loan Group, the percentage equivalent
      of a fraction, the numerator of which is the sum of the Loss Severity
      Percentages for each Mortgage Loan in such Loan Group which had a Realized
      Loss
      and the denominator of which is the number of Mortgage Loans in the related
      Loan
      Group which had Realized Losses.

     

    Bank
      of America:
      Bank of
      America, National Association.

     

    Bank
      of America Servicing Agreement:
      The
      Amended and Restated Flow Mortgage Loan Sale and Servicing Agreement, dated
      as
      of April 1 2005, by and between Bank of America and EMC Mortgage Corporation,
      as
      modified by the Regulation AB Compliance Addendum to the Amended and Restated
      Flow Mortgage Loan Sale and Servicing Agreement dated as of December 21,
      2005.

     

    Bankruptcy
      Code:
      The
      United States Bankruptcy Code, as amended as codified in 11 U.S.C.
§§101-1330.

     

    Bankruptcy
      Loss:
      With
      respect to any Mortgage Loan, any Deficient Valuation or Debt Service Reduction
      related to such Mortgage Loan as reported by the applicable Servicer to the
      Master Servicer.

     

    Book-Entry
      Certificates:
      Initially, all Classes of Certificates other than the Private Certificates
      and
      the Residual Certificates.

     

    Business
      Day:
      Any day
      other than (i) a Saturday or a Sunday, or (ii) a day on which the New York
      Stock
      Exchange or Federal Reserve is closed or on which banking institutions in the
      jurisdiction in which the Trustee, the Master Servicer, any Servicer or the
      Securities Administrator is located are authorized or obligated by law or
      executive order to be closed.

     

    Certificate:
      Any
      mortgage pass-through certificate evidencing a beneficial ownership interest
      in
      the Trust Fund signed and countersigned by the Certificate Registrar in
      substantially the forms annexed hereto as Exhibits A-1, A-2 and A-3 with the
      blanks therein appropriately completed.

     

    Certificate
      Group:
      The
      Group I Senior Certificates, Group II Senior Certificates, Group III Senior
      Certificates and Group IV Senior Certificates, as applicable.

     

    Certificate
      Owner:
      Any
      Person who is the beneficial owner of a Certificate registered in the name
      of
      the Depository or its nominee.

     

    Certificate
      Register:
      The
      register maintained pursuant to Section 5.02.

     

    Certificate
      Registrar:
      The
      Securities Administrator or any successor certificate registrar appointed
      hereunder.

     

    Certificateholder:
      A
      Holder of a Certificate.

     

    Class:
      With
      respect to the Certificates, I-A-1, I-A-2, II-A-1, II-A-2, II-X, III-A-1,
      III-A-2, III-A-3, III-X, IV-A-1, IV-A-2, R-I, R-II, R-III, B-1, B-2, B-3, B-4,
      B-5 and B-6.

     

    Class
      Prepayment Distribution Trigger:
      For a
      Class of Subordinate Certificates for any Distribution Date, the Class
      Prepayment Distribution Trigger is satisfied if the fraction (expressed as
      a
      percentage), the numerator of which is the aggregate Current Principal Amount
      of
      such Class and each Class of Subordinate Certificates subordinate thereto,
      if
      any, and the denominator of which is the Scheduled Principal Balance of all
      of
      the Mortgage Loans as of the related Due Date, equals or exceeds such percentage
      calculated as of the Closing Date.

     

    Class
      R Certificates:
      The
      Class R-I, Class R-II and Class R-III Certificates.

     

    Class
      R-I Deposit:
      The $50
      deposit into the Distribution Account by the Depositor on the Closing Date
      to
      pay the Class R-I Certificates in accordance with Section 6.01(a) on the
      Distribution Date occurring in June 2006.

     

    Class
      R-II Deposit:
      The $50
      deposit into the Distribution Account by the Depositor on the Closing Date
      to
      pay the Class R-II Certificates in accordance with Section 6.01(a) on the
      Distribution Date occurring in June 2006.

     

    Class
      R-III Deposit:
      The $50
      deposit into the Distribution Account by the Depositor on the Closing Date
      to
      pay the Class R-III Certificates in accordance with Section 6.01(a) on the
      Distribution Date occurring in June 2006.

     

    Closing
      Date:
      May 31,
      2006.

     

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

     

    Compensating
      Interest Payment:
      As
      defined in Section 6.06.

     

    Countrywide:
      Countrywide Home Loans Servicing LP, or its successor in interest.

     

    Countrywide
      Servicing Agreement:
      The
      Seller’s Warranties and Servicing Agreement, dated as of September 1, 2002, as
      amended by Amendment No. 1, dated January 1, 2003, Amendment No.2, dated
      September 1, 2004 and Amendment Reg AB to the Master Mortgage Loan Purchase
      and
      Servicing Agreement, dated as of January 1, 2006, by and between the EMC
      Mortgage Corporation and Countrywide Home Loans, Inc.

     

    Corresponding
      Certificates:
      With
      respect to each REMIC II Regular Interest, the Class with the same
      designation.

     

    Corporate
      Trust Office:
      The
      office of the Trustee at which at any particular time its corporate trust
      business is administered, which office, at the date of the execution of this
      Agreement, is located at U.S. Bank Corporate Trust Services, One Federal Street,
      3rd
      Floor,
      Boston, Massachusetts 02110, Attention: Corporate Trust Services/BSARM Series
      2006-2. With respect to the Certificate Registrar and the presentment of
      Certificates for registration of transfer, exchange or final payment, Wells
      Fargo Bank, National Association, Sixth Street and Marquette Avenue,
      Minneapolis, Minnesota 55479, Attention: Corporate Trust/ BSARM Series 2006-2,
      and for all other purposes, P.O. Box 98, Columbia, Maryland 21046 (or for
      overnight deliveries, 9062 Old Annapolis Road, Columbia, Maryland 21045),
      Attention: Corporate Trust/ BSARM Series 2006-2.

     

    Cross-Over
      Date:
      The
      first Distribution Date on which the aggregate Current Principal Amount of
      the
      Subordinate Certificates has been reduced to zero (giving effect to all
      distributions on such Distribution Date).

     

    Current
      Principal Amount:
      With
      respect to any Certificate as of any Distribution Date, the initial principal
      amount of such Certificate plus any Subsequent Recoveries added to the Current
      Principal Amount of such Certificate pursuant to Section 6.02(h), and reduced
      by
      (i) all amounts distributed on previous Distribution Dates on such Certificate
      with respect to principal, (ii) the principal portion of all Realized Losses
      allocated prior to such Distribution Date to such Certificate, taking account
      of
      the Loss Allocation Limitation and (iii) in the case of a Subordinate
      Certificate, such Certificate’s pro rata share, if any, of the applicable
      Subordinate Certificate Writedown Amount for previous Distribution Dates. With
      respect to any Class of Certificates, the Current Principal Amount thereof
      will
      equal the sum of the Current Principal Amounts of all Certificates in such
      Class. Notwithstanding the foregoing, solely for purposes of giving consents,
      directions, waivers, approvals, requests and notices, the Class R-I, Class
      R-II
      and Class R-III Certificates after the Distribution Date on which they each
      receive the distribution of the last dollar of their respective original
      principal amount shall be deemed to have Current Principal Amounts equal to
      their respective Current Principal Amounts on the day immediately preceding
      such
      Distribution Date.

     

    Custodial
      Agreement:
      An
      agreement, dated as of the Closing Date among the Depositor, the Master
      Servicer, the Trustee and the Custodian in substantially the form of Exhibit
      G
      hereto.

     

    Custodian:
      Wells
      Fargo Bank, N.A., or any successor custodian appointed pursuant to the
      provisions hereof and of the Custodial Agreement.

     

    Cut-off
      Date:
      May 1,
      2006.

     

    Cut-off
      Date Balance:
      $1,186,926,935.75.

     

    Debt
      Service Reduction:
      Any
      reduction of the Scheduled Payments which a Mortgagor is obligated to pay with
      respect to a Mortgage Loan as a result of any proceeding under the Bankruptcy
      Code or any other similar state law or other proceeding.

     

    Deficient
      Valuation:
      With
      respect to any Mortgage Loan, a valuation of the Mortgaged Property by a court
      of competent jurisdiction in an amount less than the then outstanding
      indebtedness under the Mortgage Loan, which valuation results from a proceeding
      initiated under the Bankruptcy Code or any other similar state law or other
      proceeding.

    

      Delinquent:
        A
        Mortgage Loan is “delinquent” if any payment due thereon is not made pursuant to
        the terms of such Mortgage Loan by the close of business on the day such
        payment
        is scheduled to be due. A Mortgage Loan is “30 days delinquent” if such payment
        has not been received by the close of business on the last day of the month
        in
        which such payment was due. For example, a Mortgage Loan with a payment due
        on
        December 1 that remained unpaid as of the close of business on December 31
        would
        then be considered to be 30 to 59 days delinquent. Similarly for “60 days
        delinquent,” “90 days delinquent” and so on. 
        The
        determination as to whether a Mortgage Loan falls into these categories is
        made
        as of the close of business on the last Business Day of each month. This
        method of determining delinquencies is also referred to as the MBA
        method.

    

     

    Depositor:
      Structured Asset Mortgage Investments II Inc., a Delaware corporation, or its
      successors in interest.

     

    Depository:
      The
      Depository Trust Company, the nominee of which is Cede & Co., or any
      successor thereto.

     

    Depository
      Agreement:
      The
      meaning specified in Subsection 5.01(a) hereof.

     

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

     

    Designated
      Depository Institution:
      A
      depository institution (commercial bank, federal savings bank, mutual savings
      bank or savings and loan association) or trust company (which may include the
      Trustee), the deposits of which are fully insured by the FDIC to the extent
      provided by law.

     

    Determination
      Date:
      With
      respect to each Mortgage Loan, the Determination Date as defined in the related
      Servicing Agreement.

     

    Disqualified
      Organization:
      Any of
      the following: (i) the United States, any State or political subdivision
      thereof, any possession of the United States, or any agency or instrumentality
      of any of the foregoing (other than an instrumentality which is a corporation
      if
      all of its activities are subject to tax and, except for the Freddie Mac or
      any
      successor thereto, a majority of its board of directors is not selected by
      such
      governmental unit), (ii) any foreign government, any international organization,
      or any agency or instrumentality of any of the foregoing, (iii) any organization
      (other than certain farmers’ cooperatives described in Section 521 of the Code)
      which is exempt from the tax imposed by Chapter 1 of the Code (including the
      tax
      imposed by Section 511 of the Code on unrelated business taxable income), (iv)
      rural electric and telephone cooperatives described in Section 1381(a)(2)(C)
      of
      the Code or (v) any other Person so designated by the Trustee and the
      Certificate Registrar based upon an Opinion of Counsel that the holding of
      an
      ownership interest in a Residual Certificate by such Person may cause any REMIC
      contained in the Trust or any Person having an ownership interest in the
      Residual Certificate (other than such Person) to incur a liability for any
      federal tax imposed under the Code that would not otherwise be imposed but
      for
      the transfer of an ownership interest in a Residual Certificate to such Person.
      The terms “United States,” “State” and “international organization” shall have
      the meanings set forth in Section 7701 of the Code or successor
      provisions.

     

    Distribution
      Account:
      The
      trust account or accounts created and maintained pursuant to Section 4.04,
      which
      shall be denominated “Wells Fargo Bank, National Association, as Paying Agent,
      for the benefit of the registered holders of Structured Asset Mortgage
      Investments II Inc., Bear Stearns ARM Trust, Mortgage Pass-Through Certificates,
      Series 2006-2 - Distribution Account.” The Distribution Account shall be an
      Eligible Account.

     

    Distribution
      Date:
      The
      25th day of any month, beginning in the month immediately following the month
      of
      the Closing Date, or, if such 25th day is not a Business Day, the Business
      Day
      immediately following.

     

    DTC
      Custodian:
      Wells
      Fargo Bank, N.A., or its successors in interest as custodian for the
      Depository.

     

    Due
      Date:
      With
      respect to each Mortgage Loan, the date in each month on which its Scheduled
      Payment is due if such due date is the first day of a month and otherwise is
      deemed to be the first day of the following month or such other date specified
      in the related Servicing Agreement.

     

    Due
      Period:
      With
      respect to any Distribution Date and each Mortgage Loan, the period commencing
      on the second day of the month preceding the month in which the Distribution
      Date occurs and ending at the close of business on the first day of the month
      in
      which the Distribution Date occurs.

     

    EDGAR:
      As
      defined in Section 3.18.

     

    Eligible
      Account:
      Any of
      (i) a segregated account maintained with a federal or state chartered depository
      institution (A) the short-term obligations of which are rated A-2 or better
      by
      S&P and P-1 by Moody’s at the time of any deposit therein or (B) insured by
      the FDIC (to the limits established by such Corporation), the uninsured deposits
      in which account are otherwise secured such that, as evidenced by an Opinion
      of
      Counsel (obtained by the Person requesting that the account be held pursuant
      to
      this clause (i)) delivered to the Trustee prior to the establishment of such
      account, the Certificateholders will have a claim with respect to the funds
      in
      such account and a perfected first priority security interest against any
      collateral (which shall be limited to Permitted Investments, each of which
      shall
      mature not later than the Business Day immediately preceding the Distribution
      Date next following the date of investment in such collateral or the
      Distribution Date if such Permitted Investment is an obligation of the
      institution that maintains the Distribution Account) securing such funds that
      is
      superior to claims of any other depositors or general creditors of the
      depository institution with which such account is maintained, (ii) a segregated
      trust account or accounts maintained with a federal or state chartered
      depository institution or trust company with trust powers acting in its
      fiduciary capacity or (iii) a segregated account or accounts of a depository
      institution acceptable to the Rating Agencies (as evidenced in writing by the
      Rating Agencies that use of any such account as the Distribution Account will
      not have an adverse effect on the then-current ratings assigned to the Classes
      of Certificates then rated by the Rating Agencies). Eligible Accounts may bear
      interest.

     

    EMC:
      EMC
      Mortgage Corporation, or its successor in interest.

     

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

     

    Event
      of Default:
      An
      event of default described in Section 8.01.

     

    Excess
      Liquidation Proceeds:
      To the
      extent that such amount is not required by law to be paid to the related
      Mortgagor, the amount, if any, by which Liquidation Proceeds with respect to
      a
      Liquidated Mortgage Loan exceed the sum of (i) the Outstanding Principal Balance
      of such Mortgage Loan and accrued but unpaid interest at the related Mortgage
      Interest Rate through the last day of the month in which the related Liquidation
      Date occurs, plus (ii) related Liquidation Expenses.

     

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

     

    Exchange
      Act Reports:
      Any
      reports required to be filed pursuant to Section 3.18 of this
      Agreement.

     

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

     

    FDIC:
      Federal
      Deposit Insurance Corporation or any successor thereto.

     

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

     

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

     

    Fitch:
      Fitch,
      Inc.

     

    Fractional
      Undivided Interest:
      With
      respect to any Class of Certificates, the fractional undivided interest
      evidenced by any Certificate of such Class the numerator of which is the Current
      Principal Amount of such Certificate and the denominator of which is the Current
      Principal Amount of such Class. With respect to the Certificates in the
      aggregate, the fractional undivided interest evidenced by (i) each Class of
      Residual Certificates will be deemed to equal 0.25% multiplied by the percentage
      interest of such Residual Certificate and (ii) a Certificate of any other Class
      will be deemed to equal 99.25% multiplied by a fraction, the numerator of which
      is the Current Principal Amount of such Certificate and the denominator of
      which
      is the aggregate Current Principal Amount of all the Certificates.

     

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

     

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

     

    GMAC
      Mortgage:
      GMAC
      Mortgage Corporation, or its successor in interest.

     

    GMAC
      Mortgage Servicing Agreement:
      The
      Seller’s Warranties and Servicing Agreement, dated as of May 1, 2001, as amended
      by Amendment No. 1 on October 1, 2001 and Amendment No. 2 on July 31, 2002
      between the Seller and GMAC Mortgage, attached hereto as H-1, as modified by
      the
      related Assignment Agreement.

     

    Gross
      Margin:
      As to
      each Mortgage Loan, the fixed percentage set forth in the related Mortgage
      Note
      and indicated on the Mortgage Loan Schedule which percentage is added to the
      related Index on each Interest Adjustment Date to determine (subject to
      rounding, the minimum and maximum Mortgage Interest Rate and the Periodic Rate
      Cap) the Mortgage Interest Rate until the next Interest Adjustment
      Date.

     

    Group
      I Available Funds, Group II Available Funds, Group III Available Funds and
      Group
      IV Available Funds:
      With
      respect to any Distribution Date, an amount equal to the aggregate of the
      following amounts with respect to the Mortgage Loans in the related Loan Group:
      (a) all previously undistributed payments on account of principal (including
      the
      principal portion of Scheduled Payments, Principal Prepayments and the principal
      portion of Net Liquidation Proceeds) and all previously undistributed payments
      on account of interest received after the Cut-off Date and on or prior to the
      related Determination Date, (b) any Monthly Advances and Compensating Interest
      Payments by the Servicers or the Master Servicer with respect to such
      Distribution Date and (c) any reimbursed amount in connection with losses on
      investments of deposits in an account, except:

     

    (i) all
      payments that were due on or before the Cut-off Date;

     

    (ii) all
      Principal Prepayments and Liquidation Proceeds received after the applicable
      Prepayment Period;

     

    (iii) all
      payments, other than Principal Prepayments, that represent early receipt of
      Scheduled Payments due on a date or dates subsequent to the related Due
      Date;

     

    (iv) amounts
      received on particular Mortgage Loans as late payments of principal or interest
      and respecting which, and to the extent that, there are any unreimbursed Monthly
      Advances;

     

    (v) amounts
      representing Monthly Advances determined to be Nonrecoverable
      Advances;

     

    (vi) any
      investment earnings on amounts on deposit in the Distribution Account and
      amounts permitted to be withdrawn from the Distribution Account pursuant to
      this
      Agreement;

     

    (vii) amounts
      needed to pay the Servicing Fees or to reimburse any Servicer or the Master
      Servicer for amounts due under the applicable Servicing Agreement and the
      Agreement to the extent such amounts have not been retained by, or paid
      previously to, such Servicer or the Master Servicer;

     

    (viii) any
      fees
      payable under any lender-paid primary mortgage insurance policy;
      and

     

    (ix) any
      expenses or other amounts reimbursable to the Trustee, the Securities
      Administrator and the Custodian pursuant to Section 7.04(c) or Section
      9.05.

     

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

     

    Group
      I Senior Certificates:
      The
      Class I-A-1 Certificates and Class I-A-2 Certificates.

     

    Group
      I Senior Optimal Principal Amount, Group II Senior Optimal Principal Amount,
      Group III Senior Optimal Principal Amount and Group IV Senior Optimal Principal
      Amount:
      With
      respect to each Distribution Date, an amount equal to the sum, without
      duplication, of the following (but in no event greater than the aggregate
      Current Principal Amount of the Group I, Group II, Group III or Group IV Senior
      Certificates, as applicable, immediately prior to such Distribution
      Date):

     

    (i) the
      applicable Senior Percentage of the principal portion of all Scheduled Payments
      due on each Outstanding Mortgage Loan in the related Loan Group on the related
      Due Date as specified in the amortization schedule at the time applicable
      thereto (after adjustments for previous Principal Prepayments but before any
      adjustment to such amortization schedule by reason of any bankruptcy or similar
      proceeding or any moratorium or similar waiver or grace period);

     

    (ii) the
      applicable Senior Prepayment Percentage of the Scheduled Principal Balance
      of
      each Mortgage Loan in the related Loan Group which was the subject of a
      Principal Prepayment in full received by the Servicers during the related
      Prepayment Period;

     

    (iii) the
      applicable Senior Prepayment Percentage of all Principal Prepayments in part
      received by the Servicers during the related Prepayment Period with respect
      to
      each Mortgage Loan in the related Loan Group;

     

    (iv) the
      lesser of (a) the applicable Senior Prepayment Percentage of the sum of (A)
      all
      Net Liquidation Proceeds allocable to principal received in respect of each
      Mortgage Loan in the related Loan Group which became a Liquidated Mortgage
      Loan
      during the related Prepayment Period (other than Mortgage Loans described in
      the
      immediately following clause (B)) and all Subsequent Recoveries received in
      respect of each Liquidated Mortgage Loan in the related Loan Group during the
      related Due Period and (B) the Scheduled Principal Balance of each such Mortgage
      Loan in the related Loan Group purchased by an insurer from the Trustee during
      the related Prepayment Period pursuant to the related Primary Mortgage Insurance
      Policy, if any, or otherwise; and (b) the applicable Senior Percentage of the
      sum of (A) the Scheduled Principal Balance of each Mortgage Loan in the related
      Loan Group which became a Liquidated Mortgage Loan during the related Prepayment
      Period (other than the Mortgage Loans described in the immediately following
      clause (B)) and (B) the Scheduled Principal Balance of each such Mortgage Loan
      in the related Loan Group that was purchased by an insurer from the Trust during
      the related Prepayment Period pursuant to the related Primary Mortgage Insurance
      Policy, if any or otherwise; and

     

    (v) the
      applicable Senior Prepayment Percentage of the sum of (a) the Scheduled
      Principal Balance of each Mortgage Loan in the related Loan Group which was
      repurchased by the Seller in connection with such Distribution Date and (b)
      the
      excess, if any, of the Scheduled Principal Balance of each Mortgage Loan in
      the
      related Loan Group that has been replaced by the Seller with a Substitute
      Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement in connection
      with such Distribution Date over the Scheduled Principal Balance of each such
      Substitute Mortgage Loan.

     

    Group
      I Senior Percentage:
      Initially, 95.50%. On any Distribution Date, the lesser of (i) 100% and (ii)
      the
      percentage (carried to six places rounded up) obtained by dividing the aggregate
      Current Principal Amount of the Group I Senior Certificates immediately
      preceding such Distribution Date by the aggregate Scheduled Principal Balance
      of
      the Group I Mortgage Loans as of the beginning of the related Due
      Period.

     

    Group
      I Senior Prepayment Percentage:
      On any
      Distribution Date occurring during the periods set forth below, as
      follows:

     

    
      	
              Period
                (dates inclusive)

            	 	
              Group
                I Senior Prepayment Percentage

            
	
              June
                25, 2006 - May
                25, 2013

            	 	
              100%

            
	
              June
                25, 2013 - May 25, 2014

            	 	
              Group
                I Senior Percentage plus 70% of the Group I Subordinate
                Percentage

            
	
              June
                25, 2014 - May 25, 2015

            	 	
              Group
                I Senior Percentage plus 60% of the Group I Subordinate
                Percentage

            
	
              June
                25, 2015 - May 25, 2016

            	 	
              Group
                I Senior Percentage plus 40% of the Group I Subordinate
                Percentage

            
	
              June
                25, 2016 - May 25, 2017

            	 	
              Group
                I Senior Percentage plus 20% of the Group I Subordinate
                Percentage

            
	
              June
                25, 2017 and thereafter

            	 	
              Group
                I Senior Percentage

            

    

    

    In
      addition, no reduction of the Group I Senior Prepayment Percentage shall occur
      on any Distribution Date unless, as of the last day of the month preceding
      such
      Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage
      Loans delinquent 60 days or more (including for this purpose any such Mortgage
      Loans in foreclosure and Mortgage Loans with respect to which the related
      Mortgaged Property has been acquired by the Trust), averaged over the last
      six
      months, as a percentage of the sum of the aggregate Current Principal Amount
      of
      the Subordinate Certificates does not exceed 50%; and (B) cumulative Realized
      Losses on the Mortgage Loans do not exceed (a) 30% of
      the
Original
      Subordinate Principal Balance if such Distribution Date occurs between and
      including June 2013 and May 2014, (b) 35% of the Original Subordinate Principal
      Balance if such Distribution Date occurs between and including June 2014 and
      May
      2015, (c) 40% of the Original Subordinate Principal Balance if such Distribution
      Date occurs between and including June 2015 and May 2016, (d) 45% of the
      Original Subordinate Principal Balance if such Distribution Date occurs between
      and including June 2016 and May 2017, and (e) 50% of the Original Subordinate
      Principal Balance if such Distribution Date occurs during or after June
      2017.

     

    In
      addition, if on any Distribution Date the current weighted average of the
      Subordinate Percentages is equal to or greater than two times the initial
      weighted average of the Subordinate Percentages, and (a) the aggregate Scheduled
      Principal Balance of the Mortgage Loans delinquent 60 days or more (including
      for this purpose any such Mortgage Loans in foreclosure and bankruptcy and
      such
      Mortgage Loans with respect to which the related Mortgaged Property has been
      acquired by the Trust), averaged over the last six months, as a percentage
      of
      the aggregate Current Principal Amount of the Subordinate Certificates does
      not
      exceed 50% and (b)(i) on or prior to the Distribution Date in May 2009
      cumulative Realized Losses on the Mortgage Loans as of the end of the related
      Prepayment Period do not exceed 20% of the Original Subordinate Principal
      Balance and (ii) after the Distribution Date in May 2009 cumulative Realized
      Losses on the Mortgage Loans as of the end of the related Prepayment Period
      do
      not exceed 30% of the Original Subordinate Principal Balance, then, the Group
      I
      Senior Prepayment Percentage for such Distribution Date will equal the Group
      I
      Senior Percentage; provided, however, if on such Distribution Date the current
      weighted average of the Subordinate Percentages is equal to or greater than
      two
      times the initial weighted average of the Subordinate Percentages on or prior
      to
      the Distribution Date occurring in May 2009 and the above delinquency and loss
      tests are met, then the Group I Senior Prepayment Percentage for such
      Distribution Date will equal the Group I Senior Percentage plus 50% of the
      Group
      I Subordinate Percentage.

     

    Notwithstanding
      the foregoing, if on any Distribution Date, the percentage, the numerator of
      which is the aggregate Current Principal Amount of the Senior Certificates
      immediately preceding such Distribution Date, and the denominator of which
      is
      the Scheduled Principal Balance of the Mortgage Loans as of the beginning of
      the
      related Due Period, exceeds such percentage as of the Cut-off Date, then the
      Group I Senior Prepayment Percentage for such Distribution Date will equal
      100%.
      On the Distribution Date on which the Current Principal Amounts of the Group
      I
      Senior Certificates are reduced to zero, the Group I Senior Prepayment
      Percentage shall be the minimum percentage sufficient to effect such reduction
      and thereafter shall be zero.

     

    Group
      I Subordinate Percentage:
      On any
      Distribution Date, 100% minus the Group I Senior Percentage.

     

    Group
      I Subordinate Prepayment Percentage:
      With
      respect to the Group I Mortgage Loans, on any Distribution Date, 100% minus
      the
      Group I Senior Prepayment Percentage, except that on any Distribution Date
      after
      the Current Principal Amounts of the Group I Senior Certificates have each
      been
      reduced to zero, if (a) the weighted average of the Subordinate Percentages
      on
      such Distribution Date equals or exceeds two times the initial weighted average
      of the Subordinate Percentages and (b) the aggregate Scheduled Principal Balance
      of the Mortgage Loans delinquent 60 days or more (including for this purpose
      any
      such Mortgage Loans in foreclosure and Mortgage Loans with respect to which
      the
      related Mortgaged Property has been acquired by the Trust), averaged over the
      last six months, as a percentage of the sum of the aggregate Current Principal
      Amount of the Subordinate Certificates does not exceed 100%, the Group I
      Subordinate Prepayment Percentage will equal 100%. If the test set forth in
      the
      preceding sentence is not satisfied on any Distribution Date after the Current
      Principal Amount of the Group I Senior Certificates has each been reduced to
      zero, then the Group I Subordinate Prepayment Percentage will equal zero for
      such Distribution Date.

     

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

     

    Group
      II Senior Certificates:
      The
      Class II-A-1, Class II-A-2 and Class II-X Certificates.

     

    Group
      II Senior Percentage:
      Initially, 95.50%. On any Distribution Date, the lesser of (i) 100% and (ii)
      the
      percentage (carried to six places rounded up) obtained by dividing the aggregate
      Current Principal Amount of the Group II Senior Certificates immediately
      preceding such Distribution Date by the aggregate Scheduled Principal Balance
      of
      the Group II Mortgage Loans as of the beginning of the related Due
      Period.

     

    Group
      II Senior Prepayment Percentage:
      On any
      Distribution Date occurring during the periods set forth below, as
      follows:

     

    
      	
              Period
                (dates inclusive)

            	 	
              Group
                II Senior Prepayment Percentage

            
	
              June
                25, 2006 - May 25, 2013

            	 	
              100%

            
	
              June
                25, 2013 - May 25, 2014

            	 	
              Group
                II Senior Percentage plus 70% of the Group II Subordinate
                Percentage

            
	
              June
                25, 2014 - May 25, 2015

            	 	
              Group
                II Senior Percentage plus 60% of the Group II Subordinate
                Percentage

            
	
              June
                25, 2015 - May 25, 2016

            	 	
              Group
                II Senior Percentage plus 40% of the Group II Subordinate
                Percentage

            
	
              June
                25, 2016 - May 25, 2017

            	 	
              Group
                II Senior Percentage plus 20% of the Group II Subordinate
                Percentage

            
	
              June
                25, 2017 and thereafter

            	 	
              Group
                II Senior Percentage

            

    

    

    In
      addition, no reduction of the Group II Senior Prepayment Percentage shall occur
      on any Distribution Date unless, as of the last day of the month preceding
      such
      Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage
      Loans delinquent 60 days or more (including for this purpose any such Mortgage
      Loans in foreclosure and Mortgage Loans with respect to which the related
      Mortgaged Property has been acquired by the Trust), averaged over the last
      six
      months, as a percentage of the sum of the aggregate Current Principal Amount
      of
      the Subordinate Certificates does not exceed 50%; and (B) cumulative Realized
      Losses on the Mortgage Loans do not exceed (a) 30% of the Original Subordinate
      Principal Balance if such Distribution Date occurs between and including June
      2013 and May 2014, (b) 35% of the Original Subordinate Principal Balance if
      such
      Distribution Date occurs between and including June 2014 and May 2015, (c)
      40%
      of the Original Subordinate Principal Balance if such Distribution Date occurs
      between and including June 2015 and May 2016, (d) 45% of the Original
      Subordinate Principal Balance if such Distribution Date occurs between and
      including June 2016 and May 2017, and (e) 50% of the Original Subordinate
      Principal Balance if such Distribution Date occurs during or after June
      2017.

     

    In
      addition, if on any Distribution Date the current weighted average of the
      Subordinate Percentages is equal to or greater than two times the initial
      weighted average of the Subordinate Percentages, and (a) the aggregate Scheduled
      Principal Balance of the Mortgage Loans delinquent 60 days or more (including
      for this purpose any such Mortgage Loans in foreclosure and bankruptcy and
      such
      Mortgage Loans with respect to which the related Mortgaged Property has been
      acquired by the Trust), averaged over the last six months, as a percentage
      of
      the aggregate Current Principal Amount of the Subordinate Certificates does
      not
      exceed 50% and (b)(i) on or prior to the Distribution Date in May 2009
      cumulative Realized Losses on the Mortgage Loans as of the end of the related
      Prepayment Period do not exceed 20% of the Original Subordinate Principal
      Balance and (ii) after the Distribution Date in May 2009 cumulative Realized
      Losses on the Mortgage Loans as of the end of the related Prepayment Period
      do
      not exceed 30% of the Original Subordinate Principal Balance, then, the Group
      II
      Senior Prepayment Percentage for such Distribution Date will equal the Group
      II
      Senior Percentage; provided, however, if on such Distribution Date the current
      weighted average of the Subordinate Percentages is equal to or greater than
      two
      times the initial weighted average of the Subordinate Percentages on or prior
      to
      the Distribution Date occurring in May 2009 and the above delinquency and loss
      tests are met, then the Group II Senior Prepayment Percentage for such
      Distribution Date will equal the Group II Senior Percentage plus 50% of the
      Group II Subordinate Percentage.

     

    Notwithstanding
      the foregoing, if on any Distribution Date, the percentage, the numerator of
      which is the aggregate Current Principal Amount of the Senior Certificates
      immediately preceding such Distribution Date, and the denominator of which
      is
      the Scheduled Principal Balance of the Mortgage Loans as of the beginning of
      the
      related Due Period, exceeds such percentage as of the Cut-off Date, then the
      Group II Senior Prepayment Percentage for such Distribution Date will equal
      100%. On the Distribution Date on which the Current Principal Amounts of the
      Group II Senior Certificates are reduced to zero, the Group II Senior Prepayment
      Percentage shall be the minimum percentage sufficient to effect such reduction
      and thereafter shall be zero.

     

    Group
      II Subordinate Percentage:
      On any
      Distribution Date, 100% minus the Group II Senior Percentage.

     

    Group
      II Subordinate Prepayment Percentage:
      With
      respect to the Group II Mortgage Loans, on any Distribution Date, 100% minus
      the
      Group II Senior Prepayment Percentage, except that on any Distribution Date
      after the Current Principal Amounts of the Group II Senior Certificates have
      each been reduced to zero, if (a) the weighted average of the Subordinate
      Percentages on such Distribution Date equals or exceeds two times the initial
      weighted average of the Subordinate Percentages and (b) the aggregate Scheduled
      Principal Balance of the Mortgage Loans delinquent 60 days or more (including
      for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans
      with
      respect to which the related Mortgaged Property has been acquired by the Trust),
      averaged over the last six months, as a percentage of the sum of the aggregate
      Current Principal Amount of the Subordinate Certificates does not exceed 100%,
      the Group II Subordinate Prepayment Percentage will equal 100%. If the test
      set
      forth in the preceding sentence is not satisfied on any Distribution Date after
      the Current Principal Amount of the Group II Senior Certificates has each been
      reduced to zero, then the Group II Subordinate Prepayment Percentage will equal
      zero for such Distribution Date.

     

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

     

    Group
      III Senior Certificates:
      The
      Class III-A-1, Class III-A-2, Class III-A-3 and Class III-X
      Certificates.

     

    Group
      III Senior Percentage:
      Initially, 95.50%. On any Distribution Date, the lesser of (i) 100% and (ii)
      the
      percentage (carried to six places rounded up) obtained by dividing the aggregate
      Current Principal Amount of the Group III Senior Certificates immediately
      preceding such Distribution Date by the aggregate Scheduled Principal Balance
      of
      the Group III Mortgage Loans as of the beginning of the related Due
      Period.

     

    Group
      III Senior Prepayment Percentage:
      On any
      Distribution Date occurring during the periods set forth below, as
      follows:

     

    
      	
              Period
                (dates inclusive)

            	 	
              Group
                III Senior Prepayment Percentage

            
	
              June
                25, 2006 - May 25, 2013

            	 	
              100%

            
	
              June
                25, 2013 - May 25, 2014

            	 	
              Group
                III Senior Percentage plus 70% of the Group III Subordinate
                Percentage

            
	
              June
                25, 2014 - May 25, 2015

            	 	
              Group
                III Senior Percentage plus 60% of the Group III Subordinate
                Percentage

            
	
              June
                25, 2015 - May 25, 2016

            	 	
              Group
                III Senior Percentage plus 40% of the Group III Subordinate
                Percentage

            
	
              June
                25, 2016 - May 25, 2017

            	 	
              Group
                III Senior Percentage plus 20% of the Group III Subordinate
                Percentage

            
	
              June
                25, 2017 and thereafter

            	 	
              Group
                III Senior Percentage

            

    

    

    In
      addition, no reduction of the Group III Senior Prepayment Percentage shall
      occur
      on any Distribution Date unless, as of the last day of the month preceding
      such
      Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage
      Loans delinquent 60 days or more (including for this purpose any such Mortgage
      Loans in foreclosure and Mortgage Loans with respect to which the related
      Mortgaged Property has been acquired by the Trust), averaged over the last
      six
      months, as a percentage of the sum of the aggregate Current Principal Amount
      of
      the Subordinate Certificates does not exceed 50%; and (B) cumulative Realized
      Losses on the Mortgage Loans do not exceed (a) 30% of the Original Subordinate
      Principal Balance if such Distribution Date occurs between and including June
      2013 and May 2014, (b) 35% of the Original Subordinate Principal Balance if
      such
      Distribution Date occurs between and including June 2014 and May 2015, (c)
      40%
      of the Original Subordinate Principal Balance if such Distribution Date occurs
      between and including June 2015 and May 2016, (d) 45% of the Original
      Subordinate Principal Balance if such Distribution Date occurs between and
      including June 2016 and May 2017, and (e) 50% of the Original Subordinate
      Principal Balance if such Distribution Date occurs during or after June
      2017.

     

    In
      addition, if on any Distribution Date the current weighted average of the
      Subordinate Percentages is equal to or greater than two times the initial
      weighted average of the Subordinate Percentages, and (a) the aggregate Scheduled
      Principal Balance of the Mortgage Loans delinquent 60 days or more (including
      for this purpose any such Mortgage Loans in foreclosure and bankruptcy and
      such
      Mortgage Loans with respect to which the related Mortgaged Property has been
      acquired by the Trust), averaged over the last six months, as a percentage
      of
      the aggregate Current Principal Amount of the Subordinate Certificates does
      not
      exceed 50% and (b)(i) on or prior to the Distribution Date in May
      2009
cumulative
      Realized Losses on the Mortgage Loans as of the end of the related Prepayment
      Period do not exceed 20% of the Original Subordinate Principal Balance and
      (ii)
      after the Distribution Date in May 2009 cumulative Realized Losses on the
      Mortgage Loans as of the end of the related Prepayment Period do not exceed
      30%
      of the Original Subordinate Principal Balance, then, the Group III Senior
      Prepayment Percentage for such Distribution Date will equal the Group III Senior
      Percentage; provided, however, if on such Distribution Date the current weighted
      average of the Subordinate Percentages is equal to or greater than two times
      the
      initial weighted average of the Subordinate Percentages on or prior to the
      Distribution Date occurring in May 2009 and the above delinquency and loss
      tests
      are met, then the Group III Senior Prepayment Percentage for such Distribution
      Date will equal the Group III Senior Percentage plus 50% of the Group III
      Subordinate Percentage.

     

    Notwithstanding
      the foregoing, if on any Distribution Date, the percentage, the numerator of
      which is the aggregate Current Principal Amount of the Senior Certificates
      immediately preceding such Distribution Date, and the denominator of which
      is
      the Scheduled Principal Balance of the Mortgage Loans as of the beginning of
      the
      related Due Period, exceeds such percentage as of the Cut-off Date, then the
      Group III Senior Prepayment Percentage for such Distribution Date will equal
      100%. On the Distribution Date on which the Current Principal Amounts of the
      Group III Senior Certificates are reduced to zero, the Group III Senior
      Prepayment Percentage shall be the minimum percentage sufficient to effect
      such
      reduction and thereafter shall be zero.

     

    Group
      III Subordinate Percentage:
      On any
      Distribution Date, 100% minus the Group III Senior Percentage.

     

    Group
      III Subordinate Prepayment Percentage:
      With
      respect to the Group III Mortgage Loans, on any Distribution Date, 100% minus
      the Group III Senior Prepayment Percentage, except that on any Distribution
      Date
      after the Current Principal Amounts of the Group III Senior Certificates have
      each been reduced to zero, if (a) the weighted average of the Subordinate
      Percentages on such Distribution Date equals or exceeds two times the initial
      weighted average of the Subordinate Percentages and (b) the aggregate Scheduled
      Principal Balance of the Mortgage Loans delinquent 60 days or more (including
      for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans
      with
      respect to which the related Mortgaged Property has been acquired by the Trust),
      averaged over the last six months, as a percentage of the sum of the aggregate
      Current Principal Amount of the Subordinate Certificates does not exceed 100%,
      the Group III Subordinate Prepayment Percentage will equal 100%. If the test
      set
      forth in the preceding sentence is not satisfied on any Distribution Date after
      the Current Principal Amount of the Group III Senior Certificates has each
      been
      reduced to zero, then the Group III Subordinate Prepayment Percentage will
      equal
      zero for such Distribution Date.

     

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

     

    Group
      IV Senior Certificates:
      The
      Class IV-A-1 Certificates and Class IV-A-2 Certificates.

     

    Group
      IV Senior Percentage:
      Initially, 95.50%. On any Distribution Date, the lesser of (i) 100% and (ii)
      the
      percentage (carried to six places rounded up) obtained by dividing the aggregate
      Current Principal Amount of the Group IV Senior Certificates immediately
      preceding such Distribution Date by the aggregate Scheduled Principal Balance
      of
      the Group IV Mortgage Loans as of the beginning of the related Due
      Period.

     

    Group
      IV Senior Prepayment Percentage:
      On any
      Distribution Date occurring during the periods set forth below, as
      follows:

     

    
      	
              Period
                (dates inclusive)

            	 	
              Group
                III Senior Prepayment Percentage

            
	
              June
                25, 2006 - May 25, 2013

            	 	
              100%

            
	
              June
                25, 2013 - May 25, 2014

            	 	
              Group
                IV Senior Percentage plus 70% of the Group IV Subordinate
                Percentage

            
	
              June
                25, 2014 - May 25, 2015

            	 	
              Group
                IV Senior Percentage plus 60% of the Group IV Subordinate
                Percentage

            
	
              June
                25, 2015 - May 25, 2016

            	 	
              Group
                IV Senior Percentage plus 40% of the Group IV Subordinate
                Percentage

            
	
              June
                25, 2016 - May 25, 2017

            	 	
              Group
                IV Senior Percentage plus 20% of the Group IV Subordinate
                Percentage

            
	
              June
                25, 2017 and thereafter

            	 	
              Group
                IV Senior Percentage

            

    

    

    In
      addition, no reduction of the Group IV Senior Prepayment Percentage shall occur
      on any Distribution Date unless, as of the last day of the month preceding
      such
      Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage
      Loans delinquent 60 days or more (including for this purpose any such Mortgage
      Loans in foreclosure and Mortgage Loans with respect to which the related
      Mortgaged Property has been acquired by the Trust), averaged over the last
      six
      months, as a percentage of the sum of the aggregate Current Principal Amount
      of
      the Subordinate Certificates does not exceed 50%; and (B) cumulative Realized
      Losses on the Mortgage Loans do not exceed (a) 30% of the Original Subordinate
      Principal Balance if such Distribution Date occurs between and including June
      2013 and May 2014, (b) 35% of the Original Subordinate Principal Balance if
      such
      Distribution Date occurs between and including June 2014 and May 2015, (c)
      40%
      of the Original Subordinate Principal Balance if such Distribution Date occurs
      between and including June 2015 and May 2016, (d) 45% of the Original
      Subordinate Principal Balance if such Distribution Date occurs between and
      including June 2016 and May 2017, and (e) 50% of the Original Subordinate
      Principal Balance if such Distribution Date occurs during or after June
      2017.

     

    In
      addition, if on any Distribution Date the current weighted average of the
      Subordinate Percentages is equal to or greater than two times the initial
      weighted average of the Subordinate Percentages, and (a) the aggregate Scheduled
      Principal Balance of the Mortgage Loans delinquent 60 days or more (including
      for this purpose any such Mortgage Loans in foreclosure and bankruptcy and
      such
      Mortgage Loans with respect to which the related Mortgaged Property has been
      acquired by the Trust), averaged over the last six months, as a percentage
      of
      the aggregate Current Principal Amount of the Subordinate Certificates does
      not
      exceed 50% and (b)(i) on or prior to the Distribution Date in May 2009
      cumulative Realized Losses on the Mortgage Loans as of the end of the related
      Prepayment Period do not exceed 20% of the Original Subordinate Principal
      Balance and (ii) after the Distribution Date in May 2009 cumulative Realized
      Losses on the Mortgage Loans as of the end of the related Prepayment Period
      do
      not exceed 30% of the Original Subordinate Principal Balance, then, the Group
      IV
      Senior Prepayment Percentage for such Distribution Date will equal the Group
      IV
      Senior Percentage; provided, however, if on such Distribution Date the current
      weighted average of the Subordinate Percentages is equal to or greater than
      two
      times the initial weighted average of the Subordinate Percentages on or prior
      to
      the Distribution Date occurring in May 2009 and the above delinquency and loss
      tests are met, then the Group IV Senior Prepayment Percentage for such
      Distribution Date will equal the Group IV Senior Percentage plus 50% of the
      Group IV Subordinate Percentage.

     

    Notwithstanding
      the foregoing, if on any Distribution Date, the percentage, the numerator of
      which is the aggregate Current Principal Amount of the Senior Certificates
      immediately preceding such Distribution Date, and the denominator of which
      is
      the Scheduled Principal Balance of the Mortgage Loans as of the beginning of
      the
      related Due Period, exceeds such percentage as of the Cut-off Date, then the
      Group IV Senior Prepayment Percentage for such Distribution Date will equal
      100%. On the Distribution Date on which the Current Principal Amounts of the
      Group IV Senior Certificates are reduced to zero, the Group IV Senior Prepayment
      Percentage shall be the minimum percentage sufficient to effect such reduction
      and thereafter shall be zero.

     

    Group
      IV Subordinate Percentage:
      On any
      Distribution Date, 100% minus the Group IV Senior Percentage.

     

    Group
      IV Subordinate Prepayment Percentage:
      With
      respect to the Group IV Mortgage Loans, on any Distribution Date, 100% minus
      the
      Group IV Senior Prepayment Percentage, except that on any Distribution Date
      after the Current Principal Amounts of the Group IV Senior Certificates have
      each been reduced to zero, if (a) the weighted average of the Subordinate
      Percentages on such Distribution Date equals or exceeds two times the initial
      weighted average of the Subordinate Percentages and (b) the aggregate Scheduled
      Principal Balance of the Mortgage Loans delinquent 60 days or more (including
      for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans
      with
      respect to which the related Mortgaged Property has been acquired by the Trust),
      averaged over the last six months, as a percentage of the sum of the aggregate
      Current Principal Amount of the Subordinate Certificates does not exceed 100%,
      the Group IV Subordinate Prepayment Percentage will equal 100%. If the test
      set
      forth in the preceding sentence is not satisfied on any Distribution Date after
      the Current Principal Amount of the Group IV Senior Certificates has each been
      reduced to zero, then the Group IV Subordinate Prepayment Percentage will equal
      zero for such Distribution Date.

     

    Holder:
      The
      Person in whose name a Certificate is registered in the Certificate Register,
      except that, subject to Subsections 12.02(b) and 12.05(e), solely for the
      purpose of giving any consent pursuant to this Agreement, any Certificate
      registered in the name of the Depositor, the Master Servicer or the Trustee
      or
      any Affiliate thereof shall be deemed not to be outstanding and the Fractional
      Undivided Interest evidenced thereby shall not be taken into account in
      determining whether the requisite percentage of Fractional Undivided Interests
      necessary to effect any such consent has been obtained.

     

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

     

    Independent:
      When
      used with respect to any specified Person, this term means that such Person
      (a)
      is in fact independent of the Depositor or the Master Servicer and of any
      Affiliate of the Depositor or the Master Servicer, (b) does not have any direct
      financial interest or any material indirect financial interest in the Depositor
      or the Master Servicer or any Affiliate of the Depositor or the Master Servicer
      and (c) is not connected with the Depositor or the Master Servicer or any
      Affiliate as an officer, employee, promoter, underwriter, trustee, partner,
      director or person performing similar functions.

     

    Index:
      The
      index, if any, specified in a Mortgage Note by reference to which the related
      Mortgage Interest Rate will be adjusted from time to time.

     

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

     

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

     

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

     

    Insurance
      Policy:
      With
      respect to any Mortgage Loan, any standard hazard insurance policy, flood
      insurance policy or title insurance policy.

     

    Insurance
      Proceeds:
      Amounts
      paid by the insurer under any Insurance Policy covering any Mortgage Loan or
      Mortgaged Property other than amounts required to be paid over to the Mortgagor
      pursuant to law or the related Mortgage Note or Security Instrument and other
      than amounts used to repair or restore the Mortgaged Property or to reimburse
      insured expenses.

     

    Interest
      Accrual Period:
      With
      respect to each Distribution Date, for each Class of Certificates, the calendar
      month preceding the month in which such Distribution Date occurs.

     

    Interest
      Adjustment Date:
      With
      respect to a Mortgage Loan, the date, if any, specified in the related Mortgage
      Note on which the Mortgage Interest Rate is subject to adjustment.

     

    Interest
      Only Certificates:
      The
      Class II-X Certificates and Class III-X Certificates.

     

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

     

    (a) Partial
      principal prepayments received during the relevant Prepayment Period: The
      difference between (i) one month’s interest at the applicable Net Rate on the
      amount of such prepayment and (ii) the amount of interest of such prepayment
      (adjusted to the applicable Net Rate) received at the time of such
      prepayment;

     

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

     

    (c) Relief
      Act Mortgage Loans: As to any Relief Act Mortgage Loan, the excess of (i) 30
      days’ interest (or, in the case of a principal prepayment in full, interest to
      the date of prepayment) on the Scheduled Principal Balance thereof (or, in
      the
      case of a principal prepayment in part, on the amount so prepaid) at the related
      Net Rate over (ii) 30 days’ interest (or, in the case of a principal prepayment
      in full, interest to the date of prepayment) on such Scheduled Principal Balance
      (or, in the case of a Principal Prepayment in part, on the amount so prepaid)
      at
      the Net Rate required to be paid by the Mortgagor as limited by application
      of
      the Relief Act.

     

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

     

    Investment
      Letter:
      The
      letter to be furnished by each Institutional Accredited Investor which purchases
      any of the Private Certificates in connection with such purchase, substantially
      in the form set forth as Exhibit F-1 hereto.

     

    Lender-Paid
      PMI Rate:
      With
      respect to each Mortgage Loan covered by a lender-paid primary mortgage
      insurance policy, the amount payable to the related insurer, as stated in the
      Mortgage Loan Schedule.

     

    Liquidated
      Mortgage Loan:
      Any
      defaulted Mortgage Loan as to which the related Servicer or the Master Servicer
      has determined that all amounts it expects to recover from or on account of
      such
      Mortgage Loan have been recovered.

     

    Liquidation
      Date:
      With
      respect to any Liquidated Mortgage Loan, the date on which the Master Servicer
      or the related Servicer has certified that such Mortgage Loan has become a
      Liquidated Mortgage Loan.

     

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

     

    Liquidation
      Proceeds:
      Cash
      received in connection with the liquidation of a defaulted Mortgage Loan,
      whether through trustee’s sale, foreclosure sale, Insurance Proceeds,
      condemnation proceeds or otherwise and any Subsequent Recoveries.

     

    Loan
      Group:
      Loan
      Group I, Loan Group II, Loan Group III or Loan Group IV, as
      applicable.

     

    Loan
      Group I:
      The
      group of Mortgage Loans designated as belonging to Loan Group I on the Mortgage
      Loan Schedule.

     

    Loan
      Group II:
      The
      group of Mortgage Loans designated as belonging to Loan Group II on the Mortgage
      Loan Schedule.

     

    Loan
      Group III:
      The
      group of Mortgage Loans designated as belonging to Loan Group III on the
      Mortgage Loan Schedule.

     

    Loan
      Group IV:
      The
      group of Mortgage Loans designated as belonging to Loan Group IV on the Mortgage
      Loan Schedule.

     

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

     

    Loss
      Allocation Limitation:
      The
      meaning specified in Section 6.02(c) hereof.

     

    Loss
      Severity Percentage:
      With
      respect to any Distribution Date, the percentage equivalent of a fraction,
      the
      numerator of which is the amount of Realized Losses incurred on a Mortgage
      Loan
      and the denominator of which is the Scheduled Principal Balance of such Mortgage
      Loan immediately prior to the liquidation of such Mortgage Loan.

     

    Lost
      Notes:
      The
      original Mortgage Notes that have been lost, as indicated on the Mortgage Loan
      Schedule.

     

    Master
      Servicer:
      As of
      the Closing Date, Wells Fargo Bank, N.A. and, thereafter, its respective
      successors in interest who meet the qualifications of the Servicing Agreements
      and this Agreement.

     

    Master
      Servicing Compensation:
      The
      meaning specified in Section 3.14.

     

    Material
      Defect:
      The
      meaning specified in Section 2.02(a).

     

    Maximum
      Lifetime Mortgage Rate:
      The
      maximum level to which a Mortgage Interest Rate can adjust in accordance with
      its terms, regardless of changes in the applicable Index.

     

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

     

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

     

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

     

    Minimum
      Lifetime Mortgage Rate:
      The
      minimum level to which a Mortgage Interest Rate can adjust in accordance with
      its terms, regardless of changes in the applicable Index.

     

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

     

    Monthly
      Advance:
      An
      advance of principal or interest required to be made by the applicable Servicer
      pursuant to the related Servicing Agreement or the Master Servicer pursuant
      to
      Section 6.05.

     

    Moody’s:
      Moody’s
      Investors Service, Inc. or its successor in interest.

     

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

     

    Mortgage
      Interest Rate:
      The
      annual rate at which interest accrues from time to time on any Mortgage Loan
      pursuant to the related Mortgage Note, which rate is initially equal to the
      “Mortgage Interest Rate” set forth with respect thereto on the Mortgage Loan
      Schedule.

     

    Mortgage
      Loan:
      A
      mortgage loan transferred and assigned to the Trustee pursuant to Section 2.01
      or Section 2.04 and held as a part of the Trust Fund, as identified in the
      Mortgage Loan Schedule (which shall include, without limitation, each related
      Mortgage Note, Mortgage and Mortgage File and all rights appertaining thereto),
      including a mortgage loan the property securing which has become an REO
      Property.

     

    Mortgage
      Loan Purchase Agreement:
      The
      Mortgage Loan Purchase Agreement dated as of May 31, 2006, between EMC Mortgage
      Corporation, as seller, and Structured Asset Mortgage Investments II Inc.,
      as
      purchaser, and all amendments thereof and supplements thereto, attached as
      Exhibit J.

     

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

     

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

    (b)  the
      property type;

    (c)  the
      Mortgage Interest Rate;

    (d)  the
      Servicing Fee Rate;

    (e)  the
      Master Servicer's Fee Rate;

    (f)  the
      LPMI
      Fee, if applicable;

    (g)  [reserved];

    (h)  the
      Net
      Rate;

    (i)  the
      maturity date;

    (j)  the
      stated original term to maturity;

    (k)  the
      stated remaining term to maturity;

    (l)  the
      original Principal Balance;

    (m)  the
      first
      payment date;

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

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

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

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

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

    (s)  the
      Gross
      Margin, if applicable;

    (t)  the
      next
      Adjustment Date, if applicable;

    (u)  the
      Maximum Mortgage Rate, if applicable;

    (v)  the
      Minimum Mortgage Rate, if applicable;

    (w)  the
      Periodic Rate Cap, if applicable; 

    (x)  the
      Loan
      Group, if applicable;

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

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

    (aa)  the
      Prepayment Charge, if any;

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

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

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

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

    (ff)  the
      Mortgage Loan Seller; and

    (gg)  the
      original amortization term.

     

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

     

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

     

    Mortgaged
      Property:
      Land
      and improvements securing the indebtedness of a Mortgagor under the related
      Mortgage Loan or, in the case of REO Property, such REO Property.

     

    Mortgagor:
      The
      obligor on a Mortgage Note.

     

    Net
      Interest Shortfall:
      With
      respect to any Distribution Date, the Interest Shortfall, if any, for such
      Distribution Date net of Compensating Interest Payments made with respect to
      such Distribution Date.

     

    Net
      Liquidation Proceeds:
      As to
      any Liquidated Mortgage Loan, Liquidation Proceeds net of (i) Liquidation
      Expenses which are payable therefrom to the related Servicer or the Master
      Servicer in accordance with the related Servicing Agreement or this Agreement
      and (ii) unreimbursed advances by the related Servicer or the Master Servicer
      and Monthly Advances.

     

    Net
      Rate:
      With
      respect to each Mortgage Loan, the Mortgage Interest Rate in effect from time
      to
      time less the Aggregate Expense Rate (expressed as a per annum
      rate).

     

    Non-Offered
      Subordinate Certificates:
      The
      Class B-4, Class B-5 and Class B-6 Certificates.

     

    Nonrecoverable
      Advance:
      Any
      advance or Monthly Advance (i) which was previously made or is proposed to
      be
      made by the Master Servicer, the Trustee (as successor Master Servicer) or
      the
      applicable Servicer and (ii) which, in the good faith judgment of the Master
      Servicer, the Trustee or the applicable Servicer, will not or, in the case
      of a
      proposed advance or Monthly Advance, would not, be ultimately recoverable by
      the
      Master Servicer, the Trustee (as successor Master Servicer) or the applicable
      Servicer from Liquidation Proceeds, Insurance Proceeds or future payments on
      the
      Mortgage Loan for which such advance or Monthly Advance was made or is proposed
      to be made.

     

    Notional
      Amount:
      With
      respect to the Class II-X Certificates, the Notional Amount of the Class II-X
      Certificates, as of any date of determination, is equal to the Current Principal
      Amount of the Class II-A-1 Certificates. With respect to the Class III-X
      Certificates, the Notional Amount of the Class III-X Certificates, as of any
      date of determination, is equal to the Current Principal Amount of the Class
      III-A-2 Certificates. Reference to the Notional Amount of the Class II-X
      Certificates and Class III-X Certificates is solely for convenience in
      calculation and does not represent the right to receive any distributions
      allocable to principal. For federal income tax purposes, however, the Notional
      Amounts of the Class II-X Certificates and Class III-X Certificates are equal
      to
      the Uncertificated Principal Balances of REMIC II Regular Interest II-A-1 and
      REMIC II Regular Interest III-A-2, respectively.

     

    Offered
      Certificates:
      The
      Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class II-X, Class III-A-1,
      Class III-A-2, Class III-A-3, Class III-X, Class IV-A-1, Class IV-A-2, Class
      R-I, Class R-II, Class R-III, Class B-l, Class B-2 and Class B-3
      Certificates.

     

    Offered
      Subordinate Certificates:
      The
      Class B-l, Class B-2 and Class B-3 Certificates.

     

    Officer’s
      Certificate:
      A
      certificate signed by the Chairman of the Board, the Vice Chairman of the Board,
      the President or a Vice President or Assistant Vice President or other
      authorized officer of the Master Servicer or the Depositor, as applicable,
      and
      delivered to the Trustee, as required by this Agreement.

     

    Opinion
      of Counsel:
      A
      written opinion of counsel who is or are acceptable to the Trustee and who,
      unless required to be Independent (an “Opinion of Independent Counsel”), may be
      internal counsel for the Master Servicer or the Depositor.

     

    Original
      Subordinate Principal Balance:
      The sum
      of the aggregate Current Principal Amounts of each Class of Subordinate
      Certificates as of the Closing Date.

     

    Original
      Value:
      The
      lesser of (i) the Appraised Value or (ii) the sales price of a Mortgaged
      Property at the time of origination of a Mortgage Loan, except in instances
      where either clauses (i) or (ii) is unavailable, the other may be used to
      determine the Original Value, or if both clauses (i) and (ii) are unavailable,
      Original Value may be determined from other sources reasonably acceptable to
      the
      Depositor.

     

    Outstanding
      Mortgage Loan:
      With
      respect to any Due Date, a Mortgage Loan which, prior to such Due Date, was
      not
      the subject of a Principal Prepayment in full, did not become a Liquidated
      Mortgage Loan and was not purchased or replaced.

     

    Outstanding
      Principal Balance:
      As of
      the time of any determination, the principal balance of a Mortgage Loan
      remaining to be paid by the Mortgagor, or, in the case of an REO Property,
      the
      principal balance of the related Mortgage Loan remaining to be paid by the
      Mortgagor at the time such property was acquired by the Trust Fund less any
      Net
      Liquidation Proceeds with respect thereto to the extent applied to
      principal.

     

    Pass-Through
      Rate:
      As to
      each Class of Certificates (other than the Class R Certificates), the REMIC
      I
      Regular Interests and the REMIC II Regular Interests, the rate of interest
      determined as provided with respect thereto in Section 5.01(c). Any monthly
      calculation of interest at a stated rate shall be based upon annual interest
      at
      such rate divided by twelve.

     

    Paying
      Agent:
      The
      Securities Administrator or any successor paying agent appointed
      hereunder.

     

    Periodic
      Rate Cap:
      With
      respect to each Mortgage Loan, the maximum adjustment that can be made to the
      Mortgage Interest Rate on each Interest Adjustment Date in accordance with
      its
      terms, regardless of changes in the applicable Index.

     

    Permitted
      Investments:
      Any one
      or more of the following obligations or securities held in the name of the
      Trustee for the benefit of the Certificateholders:

     

    (i) direct
      obligations of, and obligations the timely payment of which are fully guaranteed
      by the United States of America or any agency or instrumentality of the United
      States of America the obligations of which are backed by the full faith and
      credit of the United States of America;

     

    (ii) (a)
      demand or time deposits, federal funds or bankers’ acceptances issued by any
      depository institution or trust company incorporated under the laws of the
      United States of America or any state thereof (including the Trustee or the
      Master Servicer or its Affiliates acting in its commercial banking capacity)
      and
      subject to supervision and examination by federal and/or state banking
      authorities, provided that the commercial paper and/or the short-term debt
      rating and/or the long-term unsecured debt obligations of such depository
      institution or trust company at the time of such investment or contractual
      commitment providing for such investment have the Applicable Credit Rating
      or
      better from each Rating Agency and (b) any other demand or time deposit or
      certificate of deposit that is fully insured by the Federal Deposit Insurance
      Corporation;

     

    (iii) repurchase
      obligations with respect to (a) any security described in clause (i) above
      or
      (b) any other security issued or guaranteed by an agency or instrumentality
      of
      the United States of America, the obligations of which are backed by the full
      faith and credit of the United States of America, in either case entered into
      with a depository institution or trust company (acting as principal) described
      in clause (ii)(a) above where the Trustee holds the security
      therefor;

     

    (iv) securities
      bearing interest or sold at a discount issued by any corporation (including
      the
      Trustee or the Master Servicer or its Affiliates) incorporated under the laws
      of
      the United States of America or any state thereof that have the Applicable
      Credit Rating or better from each Rating Agency at the time of such investment
      or contractual commitment providing for such investment; provided, however,
      that
      securities issued by any particular corporation will not be Permitted
      Investments to the extent that investments therein will cause the then
      outstanding principal amount of securities issued by such corporation and held
      as part of the Trust to exceed 10% of the aggregate Outstanding Principal
      Balances of all the Mortgage Loans and Permitted Investments held as part of
      the
      Trust;

     

    (v) commercial
      paper (including both non-interest-bearing discount obligations and
      interest-bearing obligations payable on demand or on a specified date not more
      than one year after the date of issuance thereof) having the Applicable Credit
      Rating or better from each Rating Agency at the time of such
      investment;

     

    (vi) a
      Reinvestment Agreement issued by any bank, insurance company or other
      corporation or entity;

     

    (vii) any
      other
      demand, money market or time deposit, obligation, security or investment as
      may
      be acceptable to each Rating Agency as evidenced in writing by each Rating
      Agency to the Trustee; and

     

    (viii) interests
      in any money market fund (including any such fund managed or advised by the
      Trustee or Master Servicer or any affiliate thereof) which at the date of
      acquisition of the interests in such fund and throughout the time such interests
      are held in such fund has the highest applicable long term rating by each Rating
      Agency, if so rated, or such lower rating as will not result in the downgrading
      or withdrawal of the ratings then assigned to the Certificates by each Rating
      Agency; provided, however, that no instrument or security shall be a Permitted
      Investment if such instrument or security evidences a right to receive only
      interest payments with respect to the obligations underlying such instrument
      or
      if such security provides for payment of both principal and interest with a
      yield to maturity in excess of 120% of the yield to maturity at par or if such
      instrument or security is purchased at a price greater than par.

     

    Permitted
      Transferee:
      Any
      Person other than a Disqualified Organization or an “electing large partnership”
(as defined by Section 775 of the Code).

     

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

     

    Physical
      Certificates:
      The
      Residual Certificates and the Private Certificates.

     

    Prepayment
      Charge:
      With
      respect to any Mortgage Loan, the charges or premiums, if any, due in connection
      with a full or partial prepayment of such Mortgage Loan in accordance with
      the
      terms thereof.

     

    Prepayment
      Period:
      As to
      any Distribution Date, the period set forth in the related Servicing
      Agreement.

     

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

     

    Principal
      Prepayment:
      Any
      payment (whether partial or full) or other recovery of principal on a Mortgage
      Loan which is received in advance of its scheduled Due Date to the extent that
      it is not accompanied by an amount as to interest representing scheduled
      interest due on any date or dates in any month or months subsequent to the
      month
      of prepayment, including Insurance Proceeds and Repurchase Proceeds, but
      excluding the principal portion of Net Liquidation Proceeds.

     

    Private
      Certificates:
      The
      Class B-4, Class B-5 and Class B-6 Certificates.

     

    Protected
      Account:
      An
      account established and maintained for the benefit of Certificateholders by
      each
      Servicer with respect to the related Mortgage Loans and with respect to REO
      Property pursuant to the respective Servicing Agreements.

     

    Purchase
      Price:
      With
      respect to any Mortgage Loan required to be repurchased by the Seller pursuant
      to Section 2.02 or 2.03 hereof, an amount equal to the sum of (i) 100% of the
      outstanding principal balance of the Mortgage Loan as of the date of such
      purchase plus (ii) accrued interest thereon at the applicable Mortgage Rate
      through the first day of the month in which the Purchase Price is to be
      distributed to Certificateholders, reduced by any portion of the Servicing
      Fee,
      Servicing Advances and Advances payable to the purchaser of the Mortgage Loan
      plus and (iii) any costs and damages (if any) incurred by the Trust in
      connection with any violation of such Mortgage Loan of any predatory lending
      laws.

     

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

     

    Qualified
      Insurer:
      Any
      insurance company duly qualified as such under the laws of the state or states
      in which the related Mortgaged Property or Mortgaged Properties is or are
      located, duly authorized and licensed in such state or states to transact the
      type of insurance business in which it is engaged and approved as an insurer
      by
      the Master Servicer, so long as the claims paying ability of which is acceptable
      to the Rating Agencies for pass-through certificates having the same rating
      as
      the Certificates rated by the Rating Agencies as of the Closing
      Date.

     

    Rating
      Agencies:
      Fitch
      and S&P.

     

    Realized
      Loss:
      Any (i)
      Bankruptcy Loss or (ii) as to any Liquidated Mortgage Loan, (x) the Outstanding
      Principal Balance of such Liquidated Mortgage Loan plus accrued and unpaid
      interest thereon at the Mortgage Interest Rate through the last day of the
      month
      of such liquidation, less (y) the related Net Liquidation Proceeds with respect
      to such Mortgage Loan and the related Mortgaged Property. In addition, to the
      extent the Paying Agent receives Subsequent Recoveries with respect to any
      Mortgage Loan, the amount of the Realized Loss with respect to that Mortgage
      Loan will be reduced to the extent such recoveries are applied to reduce the
      Current Principal Amount of any Class of Certificates on any Distribution
      Date.

     

    Record
      Date:
      With
      respect to any Distribution Date, the close of business on the last Business
      Day
      of the month immediately preceding the month of such Distribution
      Date.

     

    Regular
      Certificates:
      Any of
      the Certificates other than the Residual Certificates.

     

    Reinvestment
      Agreements:
      One or
      more reinvestment agreements, acceptable to the Rating Agencies, from a bank,
      insurance company or other corporation or entity (including the
      Trustee).

     

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

     

    Relief
      Act Mortgage Loan:
      Any
      Mortgage Loan as to which the Scheduled Payment thereof has been reduced due
      to
      the application of the Relief Act.

     

    REMIC:
      A real
      estate mortgage investment conduit, as defined in the Code.

     

    REMIC
      I:
      That
      group of assets contained in the Trust Fund designated as a REMIC consisting
      of
      (i) the Mortgage Loans, (ii) the Distribution Account, (iii) any REO Property
      relating to the Mortgage Loans, (iv) the rights with respect to any related
      Servicing Agreement, (v) the rights with respect to any related Assignment
      Agreement and (vii) any proceeds of the foregoing.

     

    REMIC
      I Interests:
      The
      REMIC I Regular Interests and the Class R-I Certificates.

     

    REMIC
      I Regular Interests:
      REMIC I
      Regular Interests I-Sub, I-Grp, II-Sub, II-Grp, III-Sub, III-Grp, IV-Sub,
      IV-Grp, R-II/R-III and ZZZ.

     

    REMIC
      I Subordinated Balance Ratio:
      The
      ratio among the Uncertificated Principal Balances of each of the REMIC I Regular
      Interests ending with the designation “Sub,” equal to the ratio among, with
      respect to each such REMIC I Regular Interest, the excess of (x) the aggregate
      Scheduled Principal Balance of the Mortgage Loans in the related Loan Group
      over
      (y) the aggregate Current Principal Amount of the Senior Certificates in the
      related Certificate Group.

     

    REMIC
      II:
      That
      group of assets contained in the Trust Fund designated as a REMIC consisting
      of
      the REMIC I Regular Interests.

     

    REMIC
      II Interests:
      The
      REMIC II Regular Interests and the Class R-II Certificates.

     

    REMIC
      II Regular Interests:
      REMIC
      II Regular Interests I-A-1, I-A-2, II-A-1, II-A-2, Class III-A-1, Class III-A-2,
      Class III-A-3, Class IV-A-1, Class IV-A-2, R-III, B-l, B-2, B-3, B-4, B-5 and
      B-6.

     

    REMIC
      III:
      That
      group of assets contained in the Trust Fund designated as a REMIC consisting
      of
      the REMIC II Regular Interests.

     

    REMIC
      Opinion:
      An
      Opinion of Independent Counsel, to the effect that the proposed action described
      therein would not, under the REMIC Provisions, (i) cause any REMIC to fail
      to
      qualify as a REMIC while any regular interest in such REMIC is outstanding,
      (ii)
      result in a tax on prohibited transactions with respect to any REMIC or (iii)
      constitute a taxable contribution to any REMIC after the Startup
      Day.

     

    REMIC
      Provisions:
      The
      provisions of the federal income tax law relating to the REMIC, which appear
      at
      Sections 860A through 860G of the Code, and related provisions and regulations
      promulgated thereunder, as the foregoing may be in effect from time to
      time.

     

    REO
      Property:
      A
      Mortgaged Property acquired in the name of the Trustee, for the benefit of
      Certificateholders, by foreclosure or deed-in-lieu of foreclosure in connection
      with a defaulted Mortgage Loan.

     

    Reportable
      Event:
      As
      defined in Section 3.18.

     

    Repurchase
      Price:
      With
      respect to any Mortgage Loan (or any property acquired with respect thereto)
      required to be repurchased by the Seller pursuant to the Mortgage Loan Purchase
      Agreement or Article II of this Agreement, an amount equal to the sum of (i)(a)
      100% of the Outstanding Principal Balance of such Mortgage Loan as of the date
      of repurchase (or if the related Mortgaged Property was acquired with respect
      thereto, 100% of the Outstanding Principal Balance at the date of the
      acquisition), plus (b) accrued but unpaid interest on the Outstanding Principal
      Balance at the related Mortgage Interest Rate, through and including the last
      day of the month of repurchase, plus (c) any unreimbursed Monthly Advances
      and
      servicing advances payable to the Servicer of the Mortgage Loan or to the Master
      Servicer and (ii) any costs and damages (if any) incurred by the Trust in
      connection with any violation of such Mortgage Loan of any anti-predatory
      lending laws.

     

    Repurchase
      Proceeds:
      the
      Repurchase Price in connection with any repurchase of a Mortgage Loan by the
      Seller and any cash deposit in connection with the substitution of a Mortgage
      Loan.

     

    Request
      for Release:
      A
      request for release in the form attached hereto as Exhibit D.

     

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

     

    Residual
      Certificates:
      Any of
      the Class R Certificates.

     

    Responsible
      Officer:
      Any
      officer assigned to the Corporate Trust Office (or any successor thereto),
      including any Vice President, Assistant Vice President, Trust Officer, any
      Assistant Secretary, any trust officer or any other officer of the Trustee
      customarily performing functions similar to those performed by any of the above
      designated officers and having direct responsibility for the administration
      of
      this Agreement, and any other officer of the Trustee to whom a matter arising
      hereunder may be referred.

     

    Rule
      144A Certificate:
      The
      certificate to be furnished by each purchaser of a Private Certificate (which
      is
      also a Physical Certificate) which is a Qualified Institutional Buyer as defined
      under Rule 144A promulgated under the Securities Act, substantially in the
      form
      set forth as Exhibit F-2 hereto.

     

    S&P:
      Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and its
      successors in interest.

     

    Scheduled
      Payment:
      With
      respect to any Mortgage Loan and any month, the scheduled payment or payments
      of
      principal and interest due during such month on such Mortgage Loan which either
      is payable by a Mortgagor in such month under the related Mortgage Note or,
      in
      the case of REO Property, would otherwise have been payable under the related
      Mortgage Note.

     

    Scheduled
      Principal:
      The
      principal portion of any Scheduled Payment.

     

    Scheduled
      Principal Balance:
      With
      respect to any Mortgage Loan on any Distribution Date, (i) the unpaid principal
      balance of such Mortgage Loan as of the close of business on the related Due
      Date (i.e., taking account of the principal payment to be made on such Due
      Date
      and irrespective of any delinquency in its payment), as specified in the
      amortization schedule at the time relating thereto (before any adjustment to
      such amortization schedule by reason of any bankruptcy or similar proceeding
      occurring after the Cut-off Date (other than a Deficient Valuation) or any
      moratorium or similar waiver or grace period) and less (ii) any Principal
      Prepayments (including the principal portion of Net Liquidation Proceeds)
      received during or prior to the related Prepayment Period; provided that the
      Scheduled Principal Balance of a Liquidated Mortgage Loan is zero.

     

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

     

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

     

    Securities
      Administrator Information:
      As
      defined in Section 3.18(c).

     

    Securities
      Legend:
“THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE
      HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
      MAY
      BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH
      THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE
      144A
      UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
      BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A
      (A
“QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A
      QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE,
      PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT
      TO
      AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT
      (IF
      AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR”
WITHIN THE MEANING THEREOF IN RULE 501(a)(1), (2), (3) or (7) OF REGULATION
      D
      UNDER THE ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH
      PARAGRAPHS PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT,
      SUBJECT TO (A) THE RECEIPT BY THE TRUSTEE AND THE CERTIFICATE REGISTRAR OF
      A
      LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT
      BY THE TRUSTEE AND THE CERTIFICATE REGISTRAR OF SUCH OTHER EVIDENCE ACCEPTABLE
      TO THE TRUSTEE AND THE CERTIFICATE REGISTRAR THAT SUCH REOFFER, RESALE, PLEDGE
      OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS
      OR IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED
      STATES AND ANY OTHER APPLICABLE JURISDICTION. THIS CERTIFICATE MAY NOT BE
      ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN
      OR
      OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE
      RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE
      INTERNAL REVENUE CODE OF 1986, AS AMENDED [in the case of a Residual
      Certificate:] UNLESS THE PROPOSED TRANSFEREE PROVIDES THE TRUSTEE WITH AN
      OPINION OF COUNSEL ADDRESSED TO THE DEPOSITOR, TRUSTEE, MASTER SERVICER AND
      SECURITIES ADMINISTRATOR AND ON WHICH THEY MAY RELY THAT IS SATISFACTORY TO
      THE
      TRUSTEE THAT THE PURCHASE OF CERTIFICATES ON BEHALF OF SUCH PERSON WILL NOT
      RESULT IN OR CONSTITUTE A NONEXEMPT PROHIBITED TRANSACTION, IS PERMISSIBLE
      UNDER
      APPLICABLE LAW AND WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE
      PART
      OF THE DEPOSITOR, THE MASTER SERVICER, THE SECURITIES ADMINISTRATOR OR THE
      TRUSTEE [in the case of the Class B-4, Class B-5 and Class B-6 Certificates:],
      UNLESS THE TRANSFEREE CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND
      HOLDING OF A CERTIFICATE AND THE SERVICING, MANAGEMENT AND OPERATION OF THE
      TRUST AND ITS ASSETS: (I) WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH
      IS
      NOT COVERED UNDER AN INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION,
      INCLUDING, BUT NOT LIMITED TO, PROHIBITED TRANSACTION EXEMPTION (“PTE”) 84-14,
      PTE 91-38, PTE 90-1, PTE 95-60 OR PTE 96-23 AND (II) WILL NOT GIVE RISE TO
      ANY
      ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE SECURITIES
      ADMINISTRATOR, THE MASTER SERVICER, ANY SERVICER OR THE TRUSTEE, WHICH WILL
      BE
      DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL
      CERTIFICATE OR UNLESS AN OPINION OF COUNSEL SPECIFIED IN SECTION 5.07 OF THE
      AGREEMENT IS PROVIDED.”

     

    Security
      Agreement:
      With
      respect to a Cooperative Loan, the agreement creating a security interest in
      favor of the originator in the related Cooperative Stock.

     

    Security
      Instrument:
      A
      written instrument creating a valid first lien on a Mortgaged Property securing
      a Mortgage Note, which may be any applicable form of mortgage, deed of trust,
      deed to secure debt or security deed, including any riders or addenda
      thereto.

     

    Seller:
      EMC
      Mortgage Corporation, as mortgage loan seller under the Mortgage Loan Purchase
      Agreement.

     

    Senior
      Certificates:
      The
      Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class II-X, Class III-A-1,
      Class III-A-2, Class III-A-3, Class III-X, Class IV-A-1 and Class IV-A-2
      Certificates.

     

    Senior
      Optimal Principal Amount:
      The
      Group I Senior Optimal Principal Amount, Group II Senior Optimal Principal
      Amount, Group III Senior Optimal Principal Amount or Class IV Senior Optimal
      Principal Amount, as applicable.

     

    Senior
      Percentage:
      The
      Group I Senior Percentage, Group II Senior Percentage, Group III Senior
      Percentage or Group IV Senior Percentage, as applicable.

     

    Senior
      Prepayment Percentage:
      The
      Group I Senior Prepayment Percentage, Group II Senior Prepayment Percentage,
      Group III Senior Prepayment Percentage or Group IV Senior Prepayment Percentage,
      as applicable.

     

    Servicer:
      With
      respect to each Mortgage Loan, Countrywide, Bank of America, GMAC Mortgage
      and
      Wells Fargo.

     

    Servicer
      Remittance Date:
      With
      respect to each Mortgage Loan, the date set forth in the related Servicing
      Agreement.

     

    Servicing
      Agreements:
      The
      Countrywide Servicing Agreement, Bank of America Servicing Agreement, the GMAC
      Mortgage Servicing Agreement and the Wells Fargo Servicing
      Agreement.

     

    Servicing
      Criteria:
      The
“servicing criteria” set forth in Item 1122(d) of Regulation AB, as such may be
      amended from time to time, or those Servicing Criteria otherwise mutually agreed
      to by EMC, the Master Servicer, the Trustee and the applicable Servicer in
      response to evolving interpretations of Regulation AB and incorporated into
      a
      revised Exhibit M.

     

    Servicing
      Fee:
      As to
      any Mortgage Loan and Distribution Date, an amount equal to the product of
      (i)
      the Scheduled Principal Balance of such Mortgage Loan as of the Due Date in
      the
      preceding calendar month and (ii) the applicable Servicing Fee
      Rate.

     

    Servicing
      Fee Rate:
      As to
      any Mortgage Loan, a per annum rate as set forth in the Mortgage Loan
      Schedule.

     

    Servicing
      Officer:
      Any
      officer of the related Servicer or Master Servicer involved in or responsible
      for the administration and servicing or master servicing, as applicable, of
      the
      Mortgage Loans as to which officer evidence, reasonably acceptable to the
      Trustee, of due authorization of such officer by such Servicer or Master
      Servicer, has been furnished from time to time to the Trustee.

     

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

     

    Startup
      Day:
      May 31,
      2006.

     

    Subordinate
      Certificates:
      The
      Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6
      Certificates.

     

    Subordinate
      Certificate Writedown Amount:
      As to
      any Distribution Date, the amount by which (a) the sum of the Current Principal
      Amounts of all the Certificates (after giving effect to the distribution of
      principal and the allocation of applicable Realized Losses in reduction of
      the
      Current Principal Amounts of the Certificates on such Distribution Date) exceeds
      (b) the aggregate Scheduled Principal Balances of the Mortgage Loans on the
      Due
      Date related to such Distribution Date.

     

    Subordinate
      Optimal Principal Amount:
      As to
      any Distribution Date, an amount equal to the sum, without duplication, of
      the
      following for the Group I, Group II, Group III and Group IV Mortgage Loans
      (but
      in no event greater than the aggregate Current Principal Amount of the
      Subordinate Certificates immediately prior to such Distribution
      Date):

     

    (i) the
      applicable Subordinate Percentage of the principal portion of all Scheduled
      Payments due on each Outstanding Mortgage Loan in the related Loan Group on
      the
      related Due Date as specified in the amortization schedule at the time
      applicable thereto (after adjustment for previous Principal Prepayments but
      before any adjustment to such amortization schedule by reason of any bankruptcy
      or similar proceeding or any moratorium or similar waiver or grace
      period);

     

    (ii) the
      applicable Subordinate Prepayment Percentage of the Scheduled Principal Balance
      of each Mortgage Loan in the related Loan Group that was the subject of a
      Principal Prepayment in full received by the Servicers during the related
      Prepayment Period;

     

    (iii) the
      applicable Subordinate Prepayment Percentage of each Principal Prepayment in
      part received during the related Prepayment Period with respect to each Mortgage
      Loan in the related Loan Group;

     

    (iv) the
      excess, if any, of (a) all Net Liquidation Proceeds allocable to principal
      received during the related Prepayment Period in respect of each Liquidated
      Mortgage Loan in the related Loan Group and all Subsequent Recoveries received
      in respect of each Liquidated Mortgage Loan in the related Loan Group during
      the
      related Due Period over (b) the sum of the amounts distributable to the related
      Senior Certificateholders pursuant to clause (iv) of the related definition
      of
      Senior Optimal Principal Amount on such Distribution Date;

     

    (v) the
      applicable Subordinate Prepayment Percentage of the sum of (a) the Scheduled
      Principal Balance of each Mortgage Loan in the related Loan Group which was
      purchased with respect to such Distribution Date and (b) the difference, if
      any,
      between the Scheduled Principal Balance of each Mortgage Loan in the related
      Loan Group that has been replaced by the Seller with a Substitute Mortgage
      Loan
      pursuant to the Mortgage Loan Purchase Agreement in connection with such
      Distribution Date over the Scheduled Principal Balance of each such Substitute
      Mortgage Loan; and

     

    (vi) on
      the
      Distribution Date on which the Current Principal Amounts of the Group I Senior
      Certificates, Group II Senior Certificates, Group III Senior Certificates or
      Group IV Senior Certificates have all been reduced to zero, 100% of the related
      Senior Optimal Principal Amount. After the aggregate Current Principal Amount
      of
      the Subordinate Certificates has been reduced to zero, the Subordinate Optimal
      Principal Amount shall be zero.

     

    Subordinate
      Percentage:
      The
      Group I Subordinate Percentage, Group II Subordinate Percentage, Group III
      Subordinate Percentage or Group IV Subordinate Percentage with respect to the
      Group I Mortgage Loans, Group II Mortgage Loans, Group III Mortgage Loans and
      Group IV Mortgage Loans, respectively.

     

    Subordinate
      Prepayment Percentage:
      The
      Group I Subordinate Prepayment Percentage, Group II Subordinate Prepayment
      Percentage, Group III Subordinate Prepayment Percentage or Group IV Subordinate
      Prepayment Percentage with respect to the Group I Mortgage Loans, Group II
      Mortgage Loans, Group III Mortgage Loans and Group IV Mortgage Loans,
      respectively.

     

    Subsequent
      Recoveries:
      As of
      any Distribution Date, amounts received by the Master Servicer during the
      related Due Period or surplus amounts held by the Master Servicer to cover
      estimated expenses (including, but not limited to, recoveries in respect of
      the
      representations and warranties made by the Seller pursuant to the Mortgage
      Loan
      Purchase Agreement) specifically related to a Liquidated Mortgage Loan or
      disposition of an REO Property prior to the related Prepayment Period that
      resulted in a Realized Loss, after the liquidation or disposition of such
      Mortgage Loan.

     

    Substitute
      Mortgage Loan:
      A
      mortgage loan tendered to the Trustee pursuant to the related Servicing
      Agreement, the Mortgage Loan Purchase Agreement or Section 2.04 of this
      Agreement, as applicable, in each case, (i) which has an Outstanding Principal
      Balance not greater nor materially less than the Mortgage Loan for which it
      is
      to be substituted; (ii) which has a Mortgage Interest Rate and Net Rate not
      less
      than, and not materially greater than, such Mortgage Loan; (iii) which has
      a
      maturity date not materially earlier or later than such Mortgage Loan and not
      later than the latest maturity date of any Mortgage Loan; (iv) which is of
      the
      same property type and occupancy type as such Mortgage Loan; (v) which has
      a
      Loan-to-Value Ratio not greater than the Loan-to-Value Ratio of such Mortgage
      Loan; (vi) which is current in payment of principal and interest as of the
      date
      of substitution; (vii) as to which the payment terms do not vary in any material
      respect from the payment terms of the Mortgage Loan for which it is to be
      substituted and (viii) which has a Gross Margin, Periodic Rate Cap and Maximum
      Lifetime Mortgage Rate no less than those of such Mortgage Loan, has the same
      Index and interval between Interest Adjustment Dates as such Mortgage Loan,
      and
      a Minimum Lifetime Mortgage Rate no lower than that of such Mortgage
      Loan.

     

    Tax
      Administration and Tax Matters Person:
      The
      Securities Administrator or any successor thereto or assignee thereof shall
      serve as tax administrator hereunder and as agent for the Tax Matters Person.
      The Holder of each Class of Residual Certificates shall be the Tax Matters
      Person for the related REMIC, as more particularly set forth in Section 9.12
      hereof.

     

    Trust
      Fund or Trust:
      The
      corpus of the trust created by this Agreement, consisting of the Mortgage Loans
      and the other assets described in Section 2.01(a).

     

    Trustee:
      U.S.
      Bank National Association, or its successor in interest, or any successor
      trustee appointed as herein provided.

     

    Uncertificated
      Principal Balance:
      With
      respect to any REMIC I Regular Interest or REMIC II Regular Interest as of
      any
      Distribution Date, the initial principal amount of such regular interest as
      set
      forth in Sections 5.01(c)(i) and (c)(ii), reduced by (i) all amounts distributed
      on previous Distribution Dates on such regular interest with respect to
      principal, and (ii) the principal portion of all Realized Losses allocated
      prior
      to such Distribution Date to such regular interest, taking account of the Loss
      Allocation Limitation.

     

    Underlying
      Seller:
      With
      respect to each Mortgage Loan, Countrywide and Bank of America, as indicated
      on
      the Mortgage Loan Schedule.

     

    Uninsured
      Cause:
      Any
      cause of damage to a Mortgaged Property or related REO Property such that the
      complete restoration of such Mortgaged Property or related REO Property is
      not
      fully reimbursable by the hazard insurance policies required to be maintained
      pursuant the related Servicing Agreement, without regard to whether or not
      such
      policy is maintained.

     

    United
      States Person:
      A
      citizen
      or resident of the United States, a corporation or partnership (including an
      entity treated as a corporation or partnership for federal income tax purposes)
      created or organized in, or under the laws of, the United States or any state
      thereof or the District of Columbia (except, in the case of a partnership,
      to
      the extent provided in regulations), provided that, for purposes solely of
      the
      Class R Certificates, no partnership or other entity treated as a partnership
      for United States federal income tax purposes shall be treated as a United
      States Person unless all persons that own an interest in such partnership either
      directly or through any entity that is not a corporation for United States
      federal income tax purposes are United States Persons, or an estate whose income
      is subject to United States federal income tax regardless of its source, or
      a
      trust if a court within the United States is able to exercise primary
      supervision over the administration of the trust and one or more such United
      States Persons have the authority to control all substantial decisions of the
      trust. To the extent prescribed in regulations by the Secretary of the Treasury,
      which have not yet been issued, a trust which was in existence on August 20,
      1996 (other than a trust treated as owned by the grantor under subpart E of
      part
      I of subchapter J of chapter 1 of the Code), and which was treated as a United
      States Person on August 20, 1996, may elect to continue to be treated as a
      United States Person notwithstanding the previous sentence.

     

    Wells
      Fargo:
      Wells
      Fargo Bank, National Association.

     

    Wells
      Fargo Servicing Agreement:
      Amended
      and Restated Master Mortgage Loan Purchase Agreement, dated as of November
      1,
      2005, by and between EMC Mortgage Corporation and Wells Fargo.

     

    

     

    ARTICLE
      II

    CONVEYANCE
      OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

     

    Section
      2.01  Conveyance
      of Mortgage Loans to Trustee.

     

    (a)  The
      Depositor concurrently with the execution and delivery of this Agreement, sells,
      transfers and assigns to the Trust without recourse all its right, title and
      interest in and to (i) the Mortgage Loans identified in their respective
      Mortgage Loan Schedules, including all interest and principal due with respect
      to the Mortgage Loans after the Cut-off Date but excluding any payments of
      principal and interest due on or prior to the Cut-off Date; (ii) such assets
      as
      shall from time to time be credited or are required by the terms of this
      Agreement to be credited to the Distribution Account, (iii) such assets relating
      to the Mortgage Loans as from time to time may be held by the Servicers in
      Protected Accounts and the Paying Agent in the Distribution Account, (iv) any
      REO Property, (v) the Required Insurance Policies and any amounts paid or
      payable by the insurer under any Insurance Policy (to the extent the mortgagee
      has a claim thereto), (vi) the Mortgage Loan Purchase Agreement to the extent
      provided in Subsection 2.03(a), (vii) the rights with respect to the Servicing
      Agreements as assigned to the Trustee on behalf of the Certificateholders by
      the
      Assignment Agreements, (viii) such assets as shall from time to time be credited
      or are required by the terms of this Agreement to be credited to the
      Distribution Account and (ix) any proceeds of the foregoing. Although it is
      the
      intent of the parties to this Agreement that the conveyance of the Depositor’s
      right, title and interest in and to the Mortgage Loans and other assets in
      the
      Trust Fund pursuant to this Agreement shall constitute a purchase and sale
      and
      not a loan, in the event that such conveyance is deemed to be a loan, it is
      the
      intent of the parties to this Agreement that the Depositor shall be deemed
      to
      have granted to the Trustee a first priority perfected security interest in
      all
      of the Depositor’s right, title and interest in, to and under the Mortgage Loans
      and other assets in the Trust Fund, and that this Agreement shall constitute
      a
      security agreement under applicable law.

     

    (b)  In
      connection with the above transfer and assignment, the Depositor hereby delivers
      to the Custodian, as agent for the Trustee, with respect to each Mortgage
      Loan:

     

    (i)  the
      original Mortgage Note, endorsed without recourse (A) to the order of the
      Trustee, or (B) in the case of a loan registered on the MERS system, in blank,
      and in each case showing an unbroken chain of endorsements from the originator
      thereof to the Person endorsing it to the Trustee, or lost note affidavit
      together with a copy of the related Mortgage Note;

     

    (ii)  the
      original Mortgage and, if the related Mortgage Loan is a MOM Loan, noting the
      presence of the MIN and language indicating that such Mortgage Loan is a MOM
      Loan, which shall have been recorded (or if the original is not available,
      a
      copy), with evidence of such recording indicated thereon (or if clause (w)
      in
      the proviso below applies, shall be in recordable form);

     

    (iii)  unless
      the Mortgage Loan is a MOM Loan, a certified copy of the assignment (which
      may
      be in the form of a blanket assignment if permitted in the jurisdiction in
      which
      the Mortgaged Property is located) to “U.S. Bank National Association, as
      Trustee”, with evidence of recording with respect to each Mortgage Loan in the
      name of the Trustee thereon (or if clause (w) in the proviso below applies
      or
      for Mortgage Loans with respect to which the related Mortgaged Property is
      located in a state other than Maryland or an Opinion of Counsel has been
      provided as set forth in this Section 2.01(b), shall be in recordable
      form);

     

    (iv)  all
      intervening assignments of the Security Instrument, if applicable and only
      to
      the extent available to the Depositor with evidence of recording
      thereon;

     

    (v)  the
      original or a copy of the policy or certificate of primary mortgage guaranty
      insurance, to the extent available, if any;

     

    (vi)  the
      original policy of title insurance or mortgagee’s certificate of title insurance
      or commitment or binder for title insurance; and

     

    (vii)  originals
      of all modification agreements, if applicable and available;

     

    provided,
      however,
      that in
      lieu of the foregoing, the Depositor may deliver to the Custodian, as agent
      of
      the Trustee, the following documents, under the circumstances set forth below:
      (w) in lieu of the original Security Instrument, assignments to the Trustee
      or
      intervening assignments thereof which have been delivered, are being delivered
      or will, upon receipt of recording information relating to the Security
      Instrument required to be included thereon, be delivered to recording offices
      for recording and have not been returned to the Depositor in time to permit
      their delivery as specified above, the Depositor may deliver a true copy thereof
      with a certification by the Depositor, on the face of such copy, substantially
      as follows: “Certified to be a true and correct copy of the original, which has
      been transmitted for recording”; (x) in lieu of the Security Instrument,
      assignment to the Trustee or intervening assignments thereof, if the applicable
      jurisdiction retains the originals of such documents (as evidenced by a
      certification from the Depositor to such effect) the Depositor may deliver
      photocopies of such documents containing an original certification by the
      judicial or other governmental authority of the jurisdiction where such
      documents were recorded; (y) in lieu of the Mortgage Notes relating to the
      Mortgage Loans identified on Exhibit 5 to the Mortgage Loan Purchase Agreement,
      the Depositor may deliver lost note affidavits from the Seller; and (z) the
      Depositor shall not be required to deliver intervening assignments or Mortgage
      Note endorsements between the related Underlying Seller and the Seller, between
      the Seller and the Depositor, and between the Depositor and the Trustee; and
      provided, further, however, that in the case of Mortgage Loans which have been
      prepaid in full after the Cut-off Date and prior to the Closing Date, the
      Depositor, in lieu of delivering the above documents, may deliver to the Trustee
      or the Custodian, as its agent, a certification to such effect and shall deposit
      all amounts paid in respect of such Mortgage Loans in the Distribution Account
      on the Closing Date. The Depositor shall deliver such original documents
      (including any original documents as to which certified copies had previously
      been delivered) to the Trustee or the Custodian, as its agent, promptly after
      they are received. The Depositor shall cause the Seller, at its expense, to
      cause each assignment of the Security Instrument to the Trustee to be recorded
      not later than 180 days after the Closing Date, unless (a) such recordation
      is
      not required by the Rating Agencies or an Opinion of Counsel addressed to the
      Trustee has been provided to the Trustee (with a copy to the Custodian) which
      states that recordation of such Security Instrument is not required to protect
      the interests of the Certificateholders in the related Mortgage Loans or (b)
      MERS is identified on the Mortgage or on a properly recorded assignment of
      the
      Mortgage as the mortgagee of record solely as nominee for the Seller and its
      successor and assigns; provided, however, notwithstanding the foregoing, each
      assignment shall be submitted for recording by the Seller in the manner
      described above, at no expense to the Trust or the Trustee or the Custodian,
      as
      its agent, upon the earliest to occur of: (i) reasonable direction by the
      Holders of Certificates evidencing Fractional Undivided Interests aggregating
      not less than 25% of the Trust, (ii) the occurrence of an Event of Default,
      (iii) the occurrence of a bankruptcy, insolvency or foreclosure relating to
      the
      Seller and (iv) the occurrence of a servicing transfer as described in Section
      8.02 hereof. Notwithstanding the foregoing, if the Seller fails to pay the
      cost
      of recording the assignments, such expense will be paid by the Trustee and
      the
      Trustee shall be reimbursed for such expenses by the Trust in accordance with
      Section 9.05.

     

    Section
      2.02  Acceptance
      of Mortgage Loans by Trustee.

     

    (a)  The
      Trustee acknowledges the sale, transfer and assignment of the Trust Fund to
      it
      by the Depositor and receipt of, subject to further review and the exceptions
      which may be noted pursuant to the procedures described below, and declares
      that
      it holds, the documents (or certified copies thereof) delivered to the
      Custodian, as its agent, pursuant to Section 2.01, and declares that it will
      continue to hold those documents and any amendments, replacements or supplements
      thereto and all other assets of the Trust Fund delivered to it as Trustee in
      trust for the use and benefit of all present and future Holders of the
      Certificates. On the Closing Date, with respect to the Mortgage Loans, the
      Custodian shall acknowledge with respect to each Mortgage Loan by delivery
      to
      the Depositor and the Trustee of an Initial Certification receipt of the
      Mortgage File, but without review of such Mortgage File, except to the extent
      necessary to confirm that such Mortgage File contains the related Mortgage
      Note
      or lost note affidavit. No later than 90 days after the Closing Date (or with
      respect to any Substitute Mortgage Loan, within five Business Days after the
      receipt by the Trustee or Custodian thereof), the Trustee agrees, for the
      benefit of the Certificateholders, to review or cause to be reviewed by the
      Custodian on its behalf (under the Custodial Agreement), each Mortgage File
      delivered to it and to execute and deliver, or cause to be executed and
      delivered, to the Depositor and the Trustee an Interim Certification. In
      conducting such review, the Trustee or Custodian will ascertain whether all
      required documents have been executed and received, and based on the related
      Mortgage Loan Schedule, whether those documents relate, determined on the basis
      of the Mortgagor name, original principal balance and loan number, to the
      Mortgage Loans it has received, as identified in the related Mortgage Loan
      Schedule. In performing any such review, the Trustee or the Custodian, as its
      agent, may conclusively rely on the purported due execution and genuineness
      of
      any such document and on the purported genuineness of any signature thereon.
      If
      the Trustee or the Custodian, as its agent, finds any document constituting
      part
      of the Mortgage File has not been executed or received, or to be unrelated,
      determined on the basis of the Mortgagor name, original principal balance and
      loan number, to the Mortgage Loans identified in Exhibit B, or to appear
      defective on its face (a “Material Defect”), the Trustee or the Custodian, as
      its agent, shall promptly notify the Seller. In accordance with the Mortgage
      Loan Purchase Agreement, the Seller shall correct or cure any such defect within
      ninety (90) days from the date of notice from the Trustee or the Custodian,
      as
      its agent, of the defect and if the Seller fails to correct or cure the defect
      within such period, and such defect materially and adversely affects the
      interests of the Certificateholders in the related Mortgage Loan, the Trustee
      shall enforce the Seller’s obligation under the Mortgage Loan Purchase
      Agreement, within 90 days from the Trustee’s or the Custodian’s notification,
      provide a Substitute Mortgage Loan (if within two years of the Closing Date)
      or
      purchase such Mortgage Loan at the Repurchase Price; provided that, if such
      defect would cause the Mortgage Loan to be other than a “qualified mortgage” as
      defined in Section 860G(a)(3) of the Code, any such cure or repurchase must
      occur within 90 days from the date such breach was discovered; provided,
      however, that if such defect relates solely to the inability of the Seller
      to
      deliver the original Security Instrument or intervening assignments thereof,
      or
      a certified copy because the originals of such documents, or a certified copy
      have not been returned by the applicable jurisdiction, the Seller shall not
      be
      required to purchase such Mortgage Loan if the Seller delivers such original
      documents or certified copy promptly upon receipt, but in no event later than
      360 days after the Closing Date. The foregoing repurchase obligation shall
      not
      apply in the event that the Seller cannot deliver such original or copy of
      any
      document submitted for recording to the appropriate recording office in the
      applicable jurisdiction because such document has not been returned by such
      office; provided that the Seller shall instead deliver a recording receipt
      of
      such recording office or, if such receipt is not available, a certificate
      confirming that such documents have been accepted for recording, and delivery
      to
      the Trustee or the Custodian, as its agent, shall be effected by the Seller
      within thirty days of its receipt of the original recorded
      document.

     

    (b)  No
      later
      than 180 days after the Closing Date (or with respect to any Substitute Mortgage
      Loan, within five Business Days after the receipt by the Trustee or the
      Custodian thereof), the Trustee or the Custodian, as its agent, will review,
      for
      the benefit of the Certificateholders, the Mortgage Files delivered to it and
      will execute and deliver or cause to be executed and delivered to the Depositor
      and the Trustee a Final Certification. In conducting such review, the Trustee
      or
      the Custodian, as its agent, will ascertain whether an original of each document
      required to be recorded has been returned from the recording office with
      evidence of recording thereon or a certified copy has been obtained from the
      recording office. If the Trustee or the Custodian, as its agent, finds a
      Material Defect, the Trustee or the Custodian, as its agent, shall promptly
      notify the Seller (provided, however, that with respect to those documents
      described in subsections (b)(iv), (v) and (vii) of Section 2.01, the Trustee’s
      and Custodian’s obligations shall extend only to the documents actually
      delivered to the Custodian pursuant to such subsections). In accordance with
      the
      Mortgage Loan Purchase Agreement, the Seller shall correct or cure any such
      defect within 90 days from the date of notice from the Trustee or the Custodian,
      as its agent, of the Material Defect and if the Seller is unable to cure such
      defect within such period, and if such defect materially and adversely affects
      the interests of the Certificateholders in the related Mortgage Loan, the
      Trustee shall enforce the Seller’s obligation under the Mortgage Loan Purchase
      Agreement, within 90 days from the Trustee’s or Custodian’s notification,
      provide a Substitute Mortgage Loan (if within two years of the Closing Date)
      or
      purchase such Mortgage Loan at the Repurchase Price, provided that, if such
      defect would cause the Mortgage Loan to be other than a “qualified mortgage” as
      defined in Section 860G(a)(3) of the Code, any such cure, repurchase or
      substitution must occur within 90 days from the date such breach was discovered,
      provided, however, that if such defect relates solely to the inability of the
      Seller to deliver the original Security Instrument or intervening assignments
      thereof, or a certified copy, because the originals of such documents or a
      certified copy, have not been returned by the applicable jurisdiction, the
      Seller shall not be required to purchase such Mortgage Loan, if the Seller
      delivers such original documents or certified copy promptly upon receipt, but
      in
      no event later than 360 days after the Closing Date. The foregoing repurchase
      obligation shall not apply in the event that the Seller cannot deliver such
      original or copy of any document submitted for recording to the appropriate
      recording office in the applicable jurisdiction because such document has not
      been returned by such office; provided that the Seller shall instead deliver
      a
      recording receipt of such recording office or, if such receipt is not available,
      a certificate confirming that such documents have been accepted for recording,
      and delivery to the Trustee or the Custodian, as its agent, shall be effected
      by
      the Seller within thirty days of its receipt of the original recorded
      document.

     

    (c)  In
      the
      event that a Mortgage Loan is purchased by the Seller in accordance with
      Subsections 2.02(a) or (b) above, the Seller shall remit to the Master Servicer
      who in turn will remit to the Securities Administrator the Repurchase Price
      for
      deposit in the Distribution Account and the Seller shall provide to the Master
      Servicer, Securities Administrator, the Paying Agent and the Trustee written
      notification detailing the components of the Repurchase Price to the Trustee,
      the Paying Agent and the Master Servicer. Upon deposit of the Repurchase Price
      in the Distribution Account, the Depositor shall notify the Trustee and the
      Custodian, as agent of the Trustee (upon receipt of a Request for Release in
      the
      form of Exhibit D attached hereto with respect to such Mortgage Loan), shall
      release to the Seller the related Mortgage File and the Trustee shall execute
      and deliver all instruments of transfer or assignment, without recourse,
      representation or warranty, furnished to it by the Seller, as are necessary
      to
      vest in the Seller title to and rights under the Mortgage Loan. Such purchase
      shall be deemed to have occurred on the date on which the Repurchase Price
      in
      available funds is received by the Paying Agent. The Trustee or the Custodian,
      as agent of the Trustee, shall amend the Mortgage Loan Schedule, which was
      previously delivered to it by the Depositor in a form agreed to between the
      Depositor and the Trustee, to reflect such repurchase and shall promptly notify
      the Rating Agencies and the Master Servicer of such amendment. The obligation
      of
      the Seller to repurchase or substitute for any Mortgage Loan a Substitute
      Mortgage Loan as to which such a defect in a constituent document exists shall
      be the sole remedy respecting such defect available to the Certificateholders
      or
      to the Trustee on their behalf.

     

    Section
      2.03  Assignment
      of Interest in the Mortgage Loan Purchase Agreement.

     

    (a)  The
      Depositor hereby assigns to the Trustee, on behalf of the Certificateholders,
      all of its right, title and interest in the Mortgage Loan Purchase Agreement,
      including but not limited to the Depositor’s rights and obligations pursuant to
      the Servicing Agreements (noting that the Seller has retained the right in
      the
      event of breach of the representations, warranties and covenants, if any, with
      respect to the related Mortgage Loans of the related Servicer under the related
      Servicing Agreement to enforce the provisions thereof and to seek all or any
      available remedies). The obligations of the Seller to substitute or repurchase,
      as applicable, a Mortgage Loan shall be the Trustee’s and the
      Certificateholders’ sole remedy for any breach thereof. At the request of the
      Trustee, the Depositor shall take such actions as may be necessary to enforce
      the above right, title and interest on behalf of the Trustee and the
      Certificateholders or shall execute such further documents as the Trustee may
      reasonably require in order to enable the Trustee to carry out such
      enforcement.

     

    (b)  If
      the
      Depositor, the Securities Administrator or the Trustee discovers a breach of
      any
      of the representations and warranties set forth in the Mortgage Loan Purchase
      Agreement, which breach materially and adversely affects the value of the
      interests of Certificateholders or the Trustee in the related Mortgage Loan,
      the
      party discovering the breach shall give prompt written notice of the breach
      to
      the other parties. The Seller, within 90 days of its discovery or receipt of
      notice that such breach has occurred (whichever occurs earlier), shall cure
      the
      breach in all material respects or, subject to the Mortgage Loan Purchase
      Agreement or Section 2.04 of this Agreement, as applicable, shall purchase
      the
      Mortgage Loan or any property acquired with respect thereto from the Trustee;
      provided, however, that if there is a breach of any representation set forth
      in
      the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as
      applicable, and the Mortgage Loan or the related property acquired with respect
      thereto has been sold, then the Seller shall pay, in lieu of the Repurchase
      Price, any excess of the Repurchase Price over the Net Liquidation Proceeds
      received upon such sale. If the Net Liquidation Proceeds exceed the Repurchase
      Price, any excess shall be paid to the Seller to the extent not required by
      law
      to be paid to the borrower. Any such purchase by the Seller shall be made by
      providing an amount equal to the Repurchase Price to the Securities
      Administrator for deposit in the Distribution Account and written notification
      detailing the components of such Repurchase Price to the Trustee, the Paying
      Agent and the Master Servicer. The Depositor shall notify the Trustee and submit
      to the Custodian, as agent for the Trustee, a Request for Release, and the
      Custodian shall release, or the Trustee shall cause the Custodian to release,
      to
      the Seller the related Mortgage File and the Trustee shall execute and deliver
      all instruments of transfer or assignment furnished to it by the Seller, without
      recourse, representation or warranty as are necessary to vest in the Seller
      title to and rights under the Mortgage Loan or any property acquired with
      respect thereto. Such purchase shall be deemed to have occurred on the date
      on
      which the Repurchase Price in available funds is received by the Trustee. The
      Master Servicer shall amend the Mortgage Loan Schedule to reflect such
      repurchase and shall promptly notify the Trustee and the Rating Agencies of
      such
      amendment. Enforcement of the obligation of the Seller to purchase (or
      substitute a Substitute Mortgage Loan for) any Mortgage Loan or any property
      acquired with respect thereto (or pay the Repurchase Price as set forth in
      the
      above proviso) as to which a breach has occurred and is continuing shall
      constitute the sole remedy respecting such breach available to the
      Certificateholders or the Trustee on their behalf.

     

    In
      connection with any repurchase of a Mortgage Loan pursuant to this Section
      2.03,
      the Seller shall, or cause the related Servicer to, furnish to
      the
      Securities Administrator an officer’s certificate,
      signed
      by a duly authorized officer of the Seller or the related Servicer, as the
      case
      may be, to the effect that such repurchase has been made in accordance with
      the
      terms and conditions of this Agreement and that all conditions precedent to
      such
      repurchase have been satisfied, including the delivery to the Securities
      Administrator of the Purchase Price for deposit into the Distribution Account,
      together with copies of any Opinion of Counsel required to be delivered pursuant
      to this Agreement and the related Request for Release. Solely for purposes
      of
      the Securities Administrator providing an Assessment of Compliance, upon receipt
      of such documentation, the Securities Administrator shall approve such
      repurchase and which approval shall consist solely of the Securities
      Administrator’s receipt of such documentation and deposits. It is understood and
      agreed that the obligation under this Agreement of the Seller to repurchase
      any
      Mortgage Loan as to which a breach has occurred and is continuing shall
      constitute the sole remedies against the Seller respecting such breach available
      to Certificateholders, the Depositor or the Trustee.

     

    Section
      2.04  Substitution
      of Mortgage Loans.

     

    Notwithstanding
      anything to the contrary in this Agreement, in lieu of purchasing a Mortgage
      Loan pursuant to the Mortgage Loan Purchase Agreement or Sections 2.02 or 2.03
      of this Agreement, the Seller may, no later than the date by which such purchase
      by the Seller would otherwise be required, tender to the Trustee a Substitute
      Mortgage Loan accompanied by a certificate of an authorized officer of the
      Seller that such Substitute Mortgage Loan conforms to the requirements set
      forth
      in the definition of “Substitute Mortgage Loan” in this Agreement; provided,
      however, that substitution pursuant to the Mortgage Loan Purchase Agreement
      or
      Section 2.04 of this Agreement, as applicable, in lieu of purchase shall not
      be
      permitted after the termination of the two-year period beginning on the Startup
      Day; provided, further, that if the breach would cause the Mortgage Loan to
      be
      other than a “qualified mortgage” as defined in Section 860G(a)(3) of the Code,
      any such cure or substitution must occur within 90 days from the date the breach
      was discovered. The Custodian, as agent for the Trustee, shall examine the
      Mortgage File for any Substitute Mortgage Loan in the manner set forth in
      Section 2.02(a) and the Trustee or the Custodian, as its agent, shall notify
      the
      Seller, in writing, within five Business Days after receipt, whether or not
      the
      documents relating to the Substitute Mortgage Loan satisfy the requirements
      of
      the fifth sentence of Subsection 2.02(a). Within two Business Days after such
      notification, the Seller shall provide to the Paying Agent for deposit in the
      Distribution Account the amount, if any, by which the Outstanding Principal
      Balance as of the next preceding Due Date of the Mortgage Loan for which
      substitution is being made, after giving effect to the Scheduled Principal
      due
      on such date, exceeds the Outstanding Principal Balance as of such date of
      the
      Substitute Mortgage Loan, after giving effect to Scheduled Principal due on
      such
      date, which amount shall be treated for the purposes of this Agreement as if
      it
      were the payment by the Seller of the Repurchase Price for the purchase of
      a
      Mortgage Loan by the Seller. After such notification to the Seller and, if
      any
      such excess exists, upon receipt of such deposit, the Trustee shall accept
      such
      Substitute Mortgage Loan which shall thereafter be deemed to be a Mortgage
      Loan
      hereunder. In the event of such a substitution, accrued interest on the
      Substitute Mortgage Loan for the month in which the substitution occurs and
      any
      Principal Prepayments made thereon during such month shall be the property
      of
      the Trust Fund and accrued interest for such month on the Mortgage Loan for
      which the substitution is made and any Principal Prepayments made thereon during
      such month shall be the property of the Seller. The Scheduled Principal on
      a
      Substitute Mortgage Loan due on the Due Date in the month of substitution shall
      be the property of the Seller and the Scheduled Principal on the Mortgage Loan
      for which the substitution is made due on such Due Date shall be the property
      of
      the Trust Fund. Upon acceptance of the Substitute Mortgage Loan (and delivery
      to
      the Custodian of a Request for Release for such Mortgage Loan), the Custodian,
      as agent for the Trustee, shall release to the Seller the related Mortgage
      File
      related to any Mortgage Loan released pursuant to the Mortgage Loan Purchase
      Agreement or Section 2.04 of this Agreement, as applicable, and shall execute
      and deliver all instruments of transfer or assignment, without recourse,
      representation or warranty in form as provided to it as are necessary to vest
      in
      the Seller title to and rights under any Mortgage Loan released pursuant to
      the
      Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as
      applicable. The Seller shall deliver to the Custodian the documents related
      to
      the Substitute Mortgage Loan in accordance with the provisions of the Mortgage
      Loan Purchase Agreement or Subsections 2.01(b) and 2.02(b) of this Agreement,
      as
      applicable, with the date of acceptance of the Substitute Mortgage Loan deemed
      to be the Closing Date for purposes of the time periods set forth in those
      Subsections. The representations and warranties set forth in the Mortgage Loan
      Purchase Agreement shall be deemed to have been made by the Seller with respect
      to each Substitute Mortgage Loan as of the date of acceptance of such Mortgage
      Loan by the Trustee. The Master Servicer shall amend the Mortgage Loan Schedule
      to reflect such substitution and shall provide a copy of such amended Mortgage
      Loan Schedule to the Trustee and the Rating Agencies.

    

      In
        connection with any substitution of a Mortgage Loan pursuant to this Section
        2.04, the Seller shall, or cause the related Servicer to, furnish to the
        Securities Administrator an officer’s certificate, signed by a duly authorized
        officer of the Seller or the related Servicer, as the case may be, to the
        effect
        that such substitution has been made in accordance with the terms and conditions
        of this Agreement and that all conditions precedent to such substitution
        have
        been satisfied, together with copies of any Opinion of Counsel required to
        be
        delivered pursuant to this Agreement and the related Request for Release. 
Solely
        for purposes of the Securities Administrator providing an Assessment of
        Compliance, upon receipt of such documentation, the Securities Administrator
        shall approve such substitution and which approval shall be based solely
        on the
        Securities Administrator’s receipt of such documentation and deposits. It is
        understood and agreed that the obligation under this Agreement of the Seller
        to
        substitute any Mortgage Loan as to which a breach has occurred and is continuing
        shall constitute the sole remedies against the Seller respecting such breach
        available to Certificateholders, the Depositor or the
        Trustee.

    

     

    Section
      2.05  Issuance
      of Certificates.

     

    (a)  The
      Trustee acknowledges the assignment to it of the Mortgage Loans and the other
      assets comprising the Trust Fund and, concurrently therewith, the Securities
      Administrator has signed, and countersigned and delivered to the Depositor,
      in
      exchange therefor, Certificates in such authorized denominations representing
      such Fractional Undivided Interests as the Depositor has requested. The Trustee
      agrees that it will hold the Mortgage Loans and such other assets as may from
      time to time be delivered to it segregated on the books of the Trustee in trust
      for the benefit of the Certificateholders.

     

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

     

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

     

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

     

    Section
      2.06  Representations
      and Warranties Concerning the Depositor.

     

    The
      Depositor hereby represents and warrants to the Trustee, the Master Servicer
      and
      the Securities Administrator as follows:

     

    (i)  the
      Depositor (a) is a corporation duly organized, validly existing and in good
      standing under the laws of the State of Delaware and (b) is qualified and in
      good standing as a foreign corporation to do business in each jurisdiction
      where
      such qualification is necessary, except where the failure so to qualify would
      not reasonably be expected to have a material adverse effect on the Depositor’s
      business as presently conducted or on the Depositor’s ability to enter into this
      Agreement and to consummate the transactions contemplated hereby;

     

    (ii)  the
      Depositor has full corporate power to own its property, to carry on its business
      as presently conducted and to enter into and perform its obligations under
      this
      Agreement;

     

    (iii)  the
      execution and delivery by the Depositor of this Agreement have been duly
      authorized by all necessary corporate action on the part of the Depositor;
      and
      neither the execution and delivery of this Agreement, nor the consummation
      of
      the transactions herein contemplated, nor compliance with the provisions hereof,
      will conflict with or result in a breach of, or constitute a default under,
      any
      of the provisions of any law, governmental rule, regulation, judgment, decree
      or
      order binding on the Depositor or its properties or the articles of
      incorporation or by-laws of the Depositor, except those conflicts, breaches
      or
      defaults which would not reasonably be expected to have a material adverse
      effect on the Depositor’s ability to enter into this Agreement and to consummate
      the transactions contemplated hereby;

     

    (iv)  the
      execution, delivery and performance by the Depositor of this Agreement and
      the
      consummation of the transactions contemplated hereby do not require the consent
      or approval of, the giving of notice to, the registration with, or the taking
      of
      any other action in respect of, any state, federal or other governmental
      authority or agency, except those consents, approvals, notices, registrations
      or
      other actions as have already been obtained, given or made;

     

    (v)  this
      Agreement has been duly executed and delivered by the Depositor and, assuming
      due authorization, execution and delivery by the other parties hereto,
      constitutes a valid and binding obligation of the Depositor enforceable against
      it in accordance with its terms (subject to applicable bankruptcy and insolvency
      laws and other similar laws affecting the enforcement of the rights of creditors
      generally);

     

    (vi)  there
      are
      no actions, suits or proceedings pending or, to the knowledge of the Depositor,
      threatened against the Depositor, before or by any court, administrative agency,
      arbitrator or governmental body (i) with respect to any of the transactions
      contemplated by this Agreement or (ii) with respect to any other matter which
      in
      the judgment of the Depositor will be determined adversely to the Depositor
      and
      will if determined adversely to the Depositor materially and adversely affect
      the Depositor’s ability to enter into this Agreement or perform its obligations
      under this Agreement; and the Depositor is not in default with respect to any
      order of any court, administrative agency, arbitrator or governmental body
      so as
      to materially and adversely affect the transactions contemplated by this
      Agreement; 

     

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

     

    (viii)  immediately
      prior to the transfer and assignment to the Trustee, each Mortgage Note and
      each
      Mortgage were not subject to an assignment or pledge, and the Depositor had
      good
      and marketable title to and was the sole owner thereof and had full right to
      transfer and sell such Mortgage Loan to the Trustee free and clear of any
      encumbrance, equity, lien, pledge, charge, claim or security
      interest.

     

    

     

    ARTICLE
      III

    ADMINISTRATION
      AND SERVICING OF MORTGAGE LOANS

     

    Section
      3.01  Master
      Servicer.

     

    The
      Master Servicer shall, from and after the Closing Date, supervise, monitor
      and
      oversee the obligation of the Servicers to service and administer their
      respective Mortgage Loans in accordance with the terms of the applicable
      Servicing Agreements and shall have full power and authority to do any and
      all
      things which it may deem necessary or desirable in connection with such master
      servicing and administration. In performing its obligations hereunder, the
      Master Servicer shall act in a manner consistent with Accepted Master Servicing
      Practices. Furthermore, the Master Servicer shall oversee and consult with
      each
      Servicer as necessary from time-to-time to carry out the Master Servicer’s
      obligations hereunder, shall receive, review and evaluate all reports,
      information and other data provided to the Master Servicer by each Servicer
      and
      shall cause each Servicer to perform and observe the covenants, obligations
      and
      conditions to be performed or observed by such Servicer under its applicable
      Servicing Agreement. The Master Servicer shall independently and separately
      monitor each Servicer’s servicing activities with respect to each related
      Mortgage Loan, reconcile the results of such monitoring with such information
      provided in the previous sentence on a monthly basis and coordinate corrective
      adjustments to the Servicers’ and Master Servicer’s records, and based on such
      reconciled and corrected information, the Master Servicer shall provide such
      information to the Securities Administrator as shall be necessary in order
      for
      it to prepare the statements specified in Section 6.04, and prepare any other
      information and statements required to be forwarded by the Master Servicer
      hereunder. The Master Servicer shall reconcile the results of its Mortgage
      Loan
      monitoring with the actual remittances of the Servicers pursuant to the
      applicable Servicing Agreements.

     

    In
      addition to the foregoing, in connection with a modification of any Mortgage
      Loan by a Servicer, if the Master Servicer is unable to enforce the obligations
      of the Servicer with respect to such modification, the Master Servicer shall
      notify the Depositor of such Servicer’s failure to comply with the terms of the
      Servicing Agreement. If the Servicing Agreement requires the approval of the
      Master Servicer for a modification to a Mortgage Loan, the Master Servicer
      shall
      approve such modification if, based upon its receipt of written notification
      from the related Servicer outlining the terms of such modification and
      appropriate supporting documentation, the Master Servicer determines that the
      modification is permitted under the terms of the Servicing Agreement and that
      any conditions to such modification set forth in the Servicing Agreement have
      been satisfied. Furthermore, if the Servicing Agreement requires the oversight
      and monitoring of loss mitigation measures with respect to the related Mortgage
      Loans, the Master Servicer will monitor any loss mitigation procedure or
      recovery action related to a defaulted Mortgage Loan (to the extent it receives
      notice of such from the related Servicer) and confirm that such loss mitigation
      procedure or recovery action is initiated, conducted and concluded in accordance
      with any timeframes and any other requirements set forth in the Servicing
      Agreement, and the Master Servicer shall notify the Depositor in any case in
      which the Master Servicer believes that the related Servicer is not complying
      with such timeframes and/or other requirements.

     

    The
      Trustee shall furnish the Servicers and the Master Servicer with any powers
      of
      attorney and upon written request from a servicing officer other documents
      in
      form as provided to it necessary or appropriate to enable the Servicers and
      the
      Master Servicer to service and administer the related Mortgage Loans and REO
      Property.

     

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

     

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

     

    Section
      3.02  REMIC-Related
      Covenants.

     

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

     

    Section
      3.03  Monitoring
      of Servicers.

     

    (a)  The
      Master Servicer shall be responsible for reporting to the Trustee and the
      Depositor the compliance by each Servicer with its duties under the related
      Servicing Agreement. In the review of each Servicer’s activities, the Master
      Servicer may rely upon an officer’s certificate of the Servicer (or similar
      document signed by an officer of the Servicer) with regard to such Servicer’s
      compliance with the terms of its Servicing Agreement. In the event that the
      Master Servicer, in its judgment, determines that a Servicer should be
      terminated in accordance with its Servicing Agreement, or that a notice should
      be sent pursuant to such Servicing Agreement with respect to the occurrence
      of
      an event that, unless cured, would constitute grounds for such termination,
      the
      Master Servicer shall notify the Depositor and the Trustee thereof and the
      Master Servicer (or the Trustee in the case that Wells Fargo is the Servicer
      to
      be terminated) shall issue such notice or take such other action as it deems
      appropriate. 

     

    

      The
        Master Servicer, for the benefit of the Trustee and the Certificateholders,
        shall enforce the obligations of each Servicer under the related Servicing
        Agreement, and shall, in the event that the related Servicer (other than
        Wells
        Fargo) fails to perform its obligations in accordance with the related Servicing
        Agreement, subject to the preceding paragraph, terminate the rights and
        obligations of such Servicer thereunder and act as servicer of the related
        Mortgage Loans or to cause the Trustee to enter into a new Servicing Agreement
        with a successor Servicer selected by the Master Servicer; provided, however,
        it
        is understood and acknowledged by the parties hereto that there shall be
        a
        period of transition (not to exceed 90 days) before the actual servicing
        functions can be fully transferred to such successor Servicer. In the event
        that
        Wells Fargo fails to perform its obligations in accordance with the Wells
        Fargo
        Servicing Agreement, subject to the preceding paragraph, the Master Servicer
        shall notify the Trustee in writing of such failure. Pursuant to its receipt
        of
        such notification from the Master Servicer, the Trustee shall terminate the
        rights and obligations of Wells Fargo under the Wells Fargo Servicing Agreement
        and enter into a new servicing agreement with a successor servicer selected
        by
        the Trustee or, in the case where it cannot find a successor servicer, it
        shall
        become the successor servicer; provided, however, it is understood and
        acknowledged by the parties hereto that there will be a period of transition
        (not to exceed 90 days) before the actual servicing functions can be fully
        transferred to such successor servicer. In either event, such enforcement,
        including, without limitation, the legal prosecution of claims, termination
        of
        the related Servicing Agreement and the pursuit of other appropriate remedies,
        shall be in such form and carried out to such an extent and at such time
        as the
        Master Servicer (or in the case Wells Fargo is terminated as the Servicer,
        the
        Trustee), in its good faith business judgment, would require were it the
        owner
        of the related Mortgage Loans. The Master Servicer shall pay the costs of
        such
        enforcement at its own expense, subject to its right of reimbursement pursuant
        to the provisions of this Agreement or the related Servicing Agreement, provided
        that the Master Servicer shall not be required to prosecute or defend any
        legal
        action except to the extent that the Master Servicer shall have received
        reasonable indemnity for its costs and expenses in pursuing such action.
        In the
        event that Wells Fargo is terminated as the Servicer, the Trustee shall pay
        the
        costs of such enforcement at its own expense, subject to its right to be
        reimbursed for such costs from the Distribution Account pursuant to Section
        4.03(c); provided that the Trustee shall not be required to prosecute or
        defend
        any legal action except to the extent that the Trustee shall have received
        reasonable indemnity for its costs and expenses in pursuing such action.
        Nothing
        herein shall impose any obligation on the part of the Trustee to assume or
        succeed to the duties or obligations of Wells Fargo or the Master Servicer
        unless the Trustee has not been able to find a successor servicer or a successor
        master servicer.

    

     

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

     

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

     

    (d)  If
      the
      Master Servicer acts as Servicer, it will not assume liability for the
      representations and warranties of the Servicer, if any, that it
      replaces.

     

    Section
      3.04  Fidelity
      Bond.

     

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

     

    Section
      3.05  Power
      to
      Act; Procedures.

     

    The
      Master Servicer shall master service the Mortgage Loans and shall have full
      power and authority, subject to the REMIC Provisions and the provisions of
      Article X hereof, to do any and all things that it may deem necessary or
      desirable in connection with the master servicing and administration of the
      Mortgage Loans, including but not limited to the power and authority (i) to
      execute and deliver, on behalf of the Certificateholders and the Trustee,
      customary consents or waivers and other instruments and documents, (ii) to
      consent to transfers of any Mortgaged Property and assumptions of the Mortgage
      Notes and related Mortgages, (iii) to collect any Insurance Proceeds and
      Liquidation Proceeds, and (iv) to effectuate foreclosure or other conversion
      of
      the ownership of the Mortgaged Property securing any Mortgage Loan, in each
      case, in accordance with the provisions of this Agreement and the related
      Servicing Agreement, as applicable; provided, however, that the Master Servicer
      shall not (and, consistent with its responsibilities under Section 3.03, shall
      not permit any Servicer to) knowingly or intentionally take any action, or
      fail
      to take (or fail to cause to be taken) any action reasonably within its control
      and the scope of duties more specifically set forth herein, that, under the
      REMIC Provisions, if taken or not taken, as the case may be, may cause any
      REMIC
      to fail to qualify as a REMIC or result in the imposition of a tax upon the
      Trust Fund (including but not limited to the tax on prohibited transactions
      as
      defined in Section 860F(a)(2) of the Code and the tax on contributions to a
      REMIC set forth in Section 860G(d) of the Code) unless the Master Servicer
      has
      received an Opinion of Counsel (but not at the expense of the Master Servicer)
      to the effect that the contemplated action would not cause any REMIC to fail
      to
      qualify as a REMIC or result in the imposition of a tax upon any REMIC. The
      Trustee shall furnish the Master Servicer, upon written request from a Servicing
      Officer, with any powers of attorney empowering the Master Servicer or any
      Servicer to execute and deliver instruments of satisfaction or cancellation,
      or
      of partial or full release or discharge, and to foreclose upon or otherwise
      liquidate Mortgaged Property, and to appeal, prosecute or defend in any court
      action relating to the Mortgage Loans or the Mortgaged Property, in accordance
      with the applicable Servicing Agreement and this Agreement, and the Trustee
      shall execute and deliver such other documents, as the Master Servicer may
      request, to enable the Master Servicer to master service and administer the
      Mortgage Loans and carry out its duties hereunder, in each case in accordance
      with Accepted Master Servicing Practices (and the Trustee shall have no
      liability for misuse of any such powers of attorney by the Master Servicer
      or
      any Servicer). If the Master Servicer or the Trustee has been advised that
      it is
      likely that the laws of the state in which action is to be taken prohibit such
      action if taken in the name of the Trustee or that the Trustee would be
      adversely affected under the “doing business” or tax laws of such state if such
      action is taken in its name, the Master Servicer shall join with the Trustee
      in
      the appointment of a co-trustee pursuant to Section 9.11 hereof. In the
      performance of its duties hereunder, the Master Servicer shall be an independent
      contractor and shall not be deemed to be the agent of the Trustee.

     

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

     

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

     

    Section
      3.07  Release
      of Mortgage Files.

     

    (a)  Upon
      becoming aware of the payment in full of any Mortgage Loan, or the receipt
      by
      any Servicer of a notification that payment in full has been escrowed in a
      manner customary for such purposes for payment to Certificateholders on the
      next
      Distribution Date, the Servicer will, if required under the applicable Servicing
      Agreement (or if the Servicer does not, the Master Servicer may), promptly
      furnish to the Custodian, on behalf of the Trustee, two copies of a
      certification substantially in the form of Exhibit D hereto signed by a
      Servicing Officer or in a mutually agreeable electronic format which will,
      in
      lieu of a signature on its face, originate from a Servicing Officer (which
      certification shall include a statement to the effect that all amounts received
      in connection with such payment that are required to be deposited in the
      Protected Account maintained by the applicable Servicer pursuant to Section
      4.01
      or by the applicable Servicer pursuant to its Servicing Agreement have been
      or
      will be so deposited) and shall request that the Custodian, on behalf of the
      Trustee, deliver to the applicable Servicer the related Mortgage File. Upon
      receipt of such certification and request, the Custodian, on behalf of the
      Trustee, shall promptly release the related Mortgage File to the applicable
      Servicer and the Trustee and Custodian shall have no further responsibility
      with
      regard to such Mortgage File. Upon any such payment in full, each Servicer
      is
      authorized, to give, as agent for the Trustee, as the mortgagee under the
      Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or
      assignment of mortgage without recourse) regarding the Mortgaged Property
      subject to the Mortgage, which instrument of satisfaction or assignment, as
      the
      case may be, shall be delivered to the Person or Persons entitled thereto
      against receipt therefor of such payment, it being understood and agreed that
      no
      expenses incurred in connection with such instrument of satisfaction or
      assignment, as the case may be, shall be chargeable to the Protected
      Account.

     

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

     

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

     

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

     

    (b)  All
      Mortgage Files and funds collected or held by, or under the control of, the
      Master Servicer, in respect of any Mortgage Loans, whether from the collection
      of principal and interest payments or from Liquidation Proceeds or Insurance
      Proceeds, shall be held by the Master Servicer for and on behalf of the Trustee
      and the Certificateholders and shall be and remain the sole and exclusive
      property of the Trustee; provided, however, that the Master Servicer and each
      Servicer shall be entitled to setoff against, and deduct from, any such funds
      any amounts that are properly due and payable to the Master Servicer or such
      Servicer under this Agreement or the applicable Servicing
      Agreement.

     

    Section
      3.09  Standard
      Hazard Insurance and Flood Insurance Policies.

     

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

     

    (b)  Pursuant
      to Section 4.01 and 4.04, any amounts collected by the Servicers or the Master
      Servicer, or by any Servicer, under any insurance policies (other than amounts
      to be applied to the restoration or repair of the property subject to the
      related Mortgage or released to the Mortgagor in accordance with the applicable
      Servicing Agreement) shall be deposited into the Distribution Account, subject
      to withdrawal pursuant to Section 4.04 and 4.05. Any cost incurred by the Master
      Servicer or any Servicer in maintaining any such insurance if the Mortgagor
      defaults in its obligation to do so shall be added to the amount owing under
      the
      Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however,
      that the addition of any such cost shall not be taken into account for purposes
      of calculating the distributions to be made to Certificateholders and shall
      be
      recoverable by the Master Servicer or such Servicer pursuant to Section 4.04
      and
      4.05.

     

    Section
      3.10  Presentment
      of Claims and Collection of Proceeds.

     

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

     

    Section
      3.11  Maintenance
      of the Primary Mortgage Insurance Policies.

     

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

     

    (b)  The
      Master Servicer agrees to present, or to cause each Servicer (to the extent
      required under the related Servicing Agreement) to present, on behalf of the
      Trustee and the Certificateholders, claims to the insurer under any Primary
      Mortgage Insurance Policies and, in this regard, to take such reasonable action
      as shall be necessary to permit recovery under any Primary Mortgage Insurance
      Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01 and
      4.04,
      any amounts collected by the Master Servicer or any Servicer under any Primary
      Mortgage Insurance Policies shall be deposited in the Distribution Account,
      subject to withdrawal pursuant to Sections 4.04 and 4.05.

     

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

     

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

     

    Section
      3.13  Realization
      Upon Defaulted Mortgage Loans.

     

    The
      Master Servicer shall cause each Servicer (to the extent required under the
      related Servicing Agreement) to foreclose upon, repossess or otherwise
      comparably convert the ownership of Mortgaged Properties securing such of the
      Mortgage Loans as come into and continue in default and as to which no
      satisfactory arrangements can be made for collection of delinquent payments,
      all
      in accordance with the applicable Servicing Agreement.

     

    Section
      3.14  Compensation
      for the Master Servicer.

     

    The
      Master Servicer will be entitled to all income and gain realized from any
      investment of funds in the Distribution Account for a period not to exceed
      five
      Business Days preceding the Distribution Date, pursuant to Article IV, for
      the
      performance of its activities hereunder. Servicing compensation in the form
      of
      assumption fees, if any, late payment charges, as collected, if any, or
      otherwise (but not including any prepayment premium or penalty) shall be
      retained by the applicable Servicer and shall not be deposited in the Protected
      Account. The Master Servicer shall be required to pay all expenses incurred
      by
      it in connection with its activities hereunder and shall not be entitled to
      reimbursement therefor except as provided in this Agreement.

     

    Section
      3.15  REO
      Property.

     

    (a)  In
      the
      event the Trust Fund acquires ownership of any REO Property in respect of any
      related Mortgage Loan, the deed or certificate of sale shall be issued to the
      Trustee, or to its nominee, on behalf of the related Certificateholders. The
      Master Servicer shall, to the extent provided in the applicable Servicing
      Agreement, cause the applicable Servicer to sell any REO Property as
      expeditiously as possible and in accordance with the provisions of this
      Agreement and the related Servicing Agreement, as applicable. Pursuant to its
      efforts to sell such REO Property, the Master Servicer shall cause the
      applicable Servicer to protect and conserve, such REO Property in the manner
      and
      to the extent required by the applicable Servicing Agreement, in accordance
      with
      the REMIC Provisions and in a manner that does not result in a tax on “net
      income from foreclosure property” or cause such REO Property to fail to qualify
      as “foreclosure property” within the meaning of Section 860G(a)(8) of the
      Code.

     

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

     

    (c)  The
      Master Servicer and the applicable Servicer, upon the final disposition of
      any
      REO Property, shall be entitled to reimbursement for any related unreimbursed
      Monthly Advances and other unreimbursed advances as well as any unpaid Servicing
      Fees from Liquidation Proceeds received in connection with the final disposition
      of such REO Property; provided, that any such unreimbursed Monthly Advances
      as
      well as any unpaid Servicing Fees may be reimbursed or paid, as the case may
      be,
      prior to final disposition, out of any net rental income or other net amounts
      derived from such REO Property.

     

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

     

    Section
      3.16  Annual
      Statement as to Compliance.

     

    (a)  The
      Master Servicer and the Securities Administrator shall deliver (or otherwise
      make available) to the Depositor and the Securities Administrator not later
      than
      March 15th of each calendar year beginning in 2007, an Officer’s Certificate (an
“Annual Statement of Compliance”) stating, as to each signatory thereof, that
      (i) a review of the activities of each such party during the preceding calendar
      year and of its performance under this Agreement or other applicable servicing
      agreement has been made under such officer’s supervision and (ii) to the best of
      such officer’s knowledge, based on such review, such party has fulfilled all of
      its obligations under this Agreement or other applicable servicing agreement
      in
      all material respects throughout such year, or, if there has been a failure
      to
      fulfill any such obligation in any material respect, specifying each such
      failure known to such officer and the nature and status of the cure provisions
      thereof. Such Annual Statement of Compliance shall contain no restrictions
      or
      limitations on its use. The Master Servicer shall enforce the obligations of
      each Servicer, to the extent set forth in the related Servicing Agreement,
      to
      deliver a similar Annual Statement of Compliance by that Servicer to the
      Depositor and the Securities Administrator as described above as and when
      required with respect to the Master Servicer. In the event that certain
      servicing responsibilities with respect to any Mortgage Loan have been delegated
      by the Master Servicer, the Securities Administrator or a Servicer to a
      subservicer or subcontractor, each such entity shall cause such subservicer
      or
      subcontractor (and with respect to each Servicer, the Master Servicer shall
      enforce the obligation of such Servicer to the extent required under the related
      Servicing Agreement) to deliver a similar Annual Statement of Compliance by
      such
      subservicer or subcontractor to the Depositor and the Securities Administrator
      as described above as and when required with respect to the Master Servicer
      or
      the related Servicer (as the case may be).

     

    (b)  Failure
      of the Master Servicer to comply with this Section 3.16 (including with respect
      to the timeframes required herein) shall be deemed an Event of Default, and
      at
      the written direction of the Depositor the Trustee shall, in addition to
      whatever rights the Trustee may have under this Agreement and at law or equity
      or to damages, including injunctive relief and specific performance, upon notice
      immediately terminate all of the rights and obligations of the Master Servicer
      under this Agreement and in and to the Mortgage Loans and the proceeds thereof
      without compensating the Master Servicer for the same. Failure of the Securities
      Administrator to comply with this Section 3.16 (including with respect to the
      timeframes required in this Section) which failure results in a failure to
      timely file the related Form 10-K, shall be deemed a default and the Trustee
      at
      the written direction of the Depositor shall, in addition to whatever rights
      the
      Trustee may have under this Agreement and at law or equity or to damages,
      including injunctive relief and specific performance, upon notice immediately
      terminate all of the rights and obligations of the Securities Administrator
      under this Agreement and in and to the Mortgage Loans and the proceeds thereof
      without compensating the Securities Administrator for the same. This paragraph
      shall supersede any other provision in this Agreement or any other agreement
      to
      the contrary.

     

    Section
      3.17  Assessments
      of Compliance and Attestation Reports.

     

    Pursuant
      to Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation
      AB,
      each of the Master Servicer, the Securities Administrator and the Custodian
      (to
      the extent set forth in this Section) (each, an “Attesting Party”) shall deliver
      (or otherwise make available) to the Securities Administrator and the Depositor
      on or before March 15th of each calendar year beginning in 2007, a report
      regarding such Attesting Party’s assessment of compliance (an “Assessment of
      Compliance”) with the Servicing Criteria during the preceding calendar year. The
      Assessment of Compliance, as set forth in Regulation AB, must contain the
      following:

     

    (a) A
      statement by an authorized officer of such Attesting Party of its authority
      and
      responsibility for assessing compliance with the Servicing Criteria applicable
      to the related Attesting Party;

     

    (b) A
      statement by an authorized officer that such Attesting Party used the Servicing
      Criteria attached as Exhibit M hereto, and which will also be attached to the
      Assessment of Compliance, to assess compliance with the Servicing Criteria
      applicable to the related Attesting Party;

     

    (c) An
      assessment by such officer of the related Attesting Party’s compliance with the
      applicable Servicing Criteria for the period consisting of the preceding
      calendar year, including disclosure of any material instance of noncompliance
      with respect thereto during such period, which assessment shall be based on
      the
      activities such Attesting Party performs with respect to asset-backed securities
      transactions taken as a whole involving the related Attesting Party, that are
      backed by the same asset type as the Mortgage Loans;

     

    (d) A
      statement that a registered public accounting firm has issued an attestation
      report on the related Attesting Party’s Assessment of Compliance for the period
      consisting of the preceding calendar year; and

     

    (e) A
      statement as to which of the Servicing Criteria, if any, are not applicable
      to
      the related Attesting Party, which statement shall be based on the activities
      such Attesting Party performs with respect to asset-backed securities
      transactions taken as a whole involving such Attesting Party, that are backed
      by
      the same asset type as the Mortgage Loans.

     

    Such
      report at a minimum shall address each of the Servicing Criteria specified
      on
      Exhibit M hereto which are indicated as applicable to the related Attesting
      Party.

     

    On
      or
      before March 15th of each calendar year beginning in 2007, each Attesting Party
      shall furnish to the Master Servicer, the Depositor and the Securities
      Administrator a report (an “Attestation Report”) by a registered public
      accounting firm that attests to, and reports on, the Assessment of Compliance
      made by the related Attesting Party, as required by Rules 13a-18 and 15d-18
      of
      the Exchange Act and Item 1122(b) of Regulation AB, which Attestation Report
      must be made in accordance with standards for attestation reports issued or
      adopted by the Public Company Accounting Oversight Board. 

     

    The
      Master Servicer shall enforce the obligation of each Servicer to deliver to
      the
      Securities Administrator, the Master Servicer and the Depositor an Assessment
      of
      Compliance and Attestation Report as and when provided in the related Servicing
      Agreement. Each of the Master Servicer and the Securities Administrator shall
      cause any subservicer and each subcontractor (to the extent such subcontractor
      is determined by the Master Servicer or the Securities Administrator, as
      applicable, to be “participating in the servicing function” within the meaning
      of Item 1122 of Regulation AB) that is engaged by the Master Servicer or the
      Securities Administrator, as applicable, to deliver to the Securities
      Administrator, the Master Servicer and the Depositor an Assessment of Compliance
      and Attestation Report as and when provided above. Such Assessment of
      Compliance, as to any subservicer or subcontractor, shall at a minimum address
      the applicable Servicing Criteria specified on Exhibit M hereto which are
      indicated as applicable to any “primary servicer” to the extent such subservicer
      or subcontractor is performing any servicing function for the party who engages
      it and to the extent such party is not itself addressing the Servicing Criteria
      related to such servicing function in its own Assessment of Compliance. The
      Securities Administrator shall confirm that each of the Assessments of
      Compliance delivered to it, taken as a whole, address all of the Servicing
      Criteria and taken individually address the Servicing Criteria for each party
      as
      set forth in Exhibit M and notify the Depositor of any exceptions.
      Notwithstanding the foregoing, as to any subcontractor, an Assessment of
      Compliance is not required to be delivered unless it is required as part of
      a
      Form 10-K with respect to the Trust Fund.

     

    The
      Custodian shall deliver to the Securities Administrator and the Depositor an
      Assessment of Compliance and Attestation Report, as and when provided above,
      which shall at a minimum address each of the Servicing Criteria specified on
      Exhibit M hereto which are indicated as applicable to a “custodian”.
      Notwithstanding the foregoing, an Assessment of Compliance or Attestation Report
      is not required to be delivered by any Custodian unless it is required as part
      of a Form 10-K with respect to the Trust Fund.

     

    Failure
      of the Master Servicer to comply with this Section 3.17 (including with respect
      to the timeframes required herein) shall, upon written notice from the Trustee
      at the written direction of the Depositor, constitute an Event of Default,
      and
      at the written direction of the Depositor the Trustee shall, in addition to
      whatever rights the Trustee may have under this Agreement and at law or equity
      or to damages, including injunctive relief and specific performance, upon notice
      immediately terminate all of the rights and obligations of the Master Servicer
      under this Agreement and in and to the Mortgage Loans and the proceeds thereof
      without compensating the Master Servicer for the same (but subject to the Master
      Servicer’s rights to payment of any Master Servicing compensation and
      reimbursement of all amounts for which it is entitled to be reimbursed prior
      to
      the date of termination). Failure of the Securities Administrator to comply
      with
      this Section 3.17 (including with respect to the timeframes required in this
      Section) which failure results in a failure to timely file the related Form
      10-K, shall, upon written notice from the Trustee at the written direction
      of
      the Depositor, constitute a default and the Trustee shall, in addition to
      whatever rights the Trustee may have under this Agreement and at law or equity
      or to damages, including injunctive relief and specific performance, upon notice
      immediately terminate all of the rights and obligations of the Securities
      Administrator under this Agreement and in and to the Mortgage Loans and the
      proceeds thereof without compensating the Securities Administrator for the
      same
      (but subject to the Securities Administrator’s right to reimbursement of all
      amounts for which it is entitled to be reimbursed prior to the date of
      termination). This paragraph shall supersede any other provision in this
      Agreement or any other agreement to the contrary.

     

    Section
      3.18  Reports
      Filed with Securities and Exchange Commission.

     

    (a) (i)
      (A)
      Within 15 days after each Distribution Date, the Securities Administrator shall,
      in accordance with industry standards, prepare and file with the Commission
      via
      the Electronic Data Gathering and Retrieval System (“EDGAR”), a Distribution
      Report on Form 10-D, signed by the Master Servicer, with a copy of the Monthly
      Statement to be furnished by the Securities Administrator to the
      Certificateholders for such Distribution Date; provided that, the Securities
      Administrator shall have received no later than five (5) calendar days after
      the
      related Distribution Date, all information required to be provided to the
      Securities Administrator as described in clause (a)(iv) below. Any disclosure
      that is in addition to the Monthly Statement and that is required to be included
      on Form 10-D (“Additional Form 10-D Disclosure”) shall be, pursuant to the
      paragraph immediately below, reported by the parties set forth on Exhibit N
      to
      the Securities Administrator and the Depositor and approved by the Depositor,
      and the Securities Administrator will have no duty or liability for any failure
      hereunder to determine or prepare any Additional Form 10-D Disclosure absent
      such reporting (other than in the case where the Securities Administrator is
      the
      reporting party as set forth in Exhibit N) and approval.

     

    (B)
      Within five (5) calendar days after the related Distribution Date, (i) the
      parties set forth in Exhibit N shall be required to provide, pursuant to Section
      3.18(a)(iv) below, to the Securities Administrator and the Depositor, to the
      extent known by a responsible officer thereof, in EDGAR-compatible format,
      or in
      such other form as otherwise agreed upon by the Securities Administrator and
      the
      Depositor and such party, the form and substance of any Additional Form 10-D
      Disclosure, if applicable, and (ii) the Depositor will approve, as to form
      and
      substance, or disapprove, as the case may be, the inclusion of the Additional
      Form 10-D Disclosure on Form 10-D. The Depositor shall be responsible for any
      reasonable fees and expenses assessed or incurred by the Securities
      Administrator in connection with including any Additional Form 10-D Disclosure
      on Form 10-D pursuant to this Section.

     

    (C)
      After
      preparing the Form 10-D, the Securities Administrator shall forward
      electronically a copy of the Form 10-D to the Depositor (in the case of any
      Additional 10-D Disclosure and otherwise if requested by the Depositor) and
      the
      Master Servicer for review. Within two Business Days after receipt of such
      copy,
      but no later than the 12th calendar day after the Distribution Date (provided
      that, the Securities Administrator forwards a copy of the Form 10-D no later
      than the 10th calendar after the Distribution Date), the Depositor shall notify
      the Securities Administrator in writing (which may be furnished electronically)
      of any changes to or approval of such Form 10-D. In the absence of receipt
      of
      any written changes or approval, the Securities Administrator shall be entitled
      to assume that such Form 10-D is in final form and the Securities Administrator
      may proceed with the execution and filing of the Form 10-D. No later than the
      13th calendar day after the related Distribution Date, a duly authorized officer
      of the Master Servicer shall sign the Form 10-D and, in the case where the
      Master Servicer and the Securities Administrator are not affiliated, return
      an
      electronic or fax copy of such signed Form 10-D (with an original executed
      hard
      copy to follow by overnight mail) to the Securities Administrator. If a Form
      10-D cannot be filed on time or if a previously filed Form 10-D needs to be
      amended, the Securities Administrator shall follow the procedures set forth
      in
      Section 3.18(a)(v)(B). Promptly (but no later than one (1) Business Day) after
      filing with the Commission, the Securities Administrator shall make available
      on
      its internet website identified in Section 6.04 a final executed copy of each
      Form 10-D filed by the Securities Administrator. The signing party at the Master
      Servicer can be contacted as set forth in Section 12.07. Form 10-D requires
      the
      registrant to indicate (by checking “yes” or “no”) that it (1) has filed all
      reports required to be filed by Section 13 or 15(d) of the Exchange Act during
      the preceding 12 months (or for such shorter period that the registrant was
      required to file such reports), and (2) has been subject to such filing
      requirements for the past 90 days. The Depositor shall notify the Securities
      Administration in writing, no later than the fifth calendar day after the
      related Distribution Date with respect to the filing of a report on Form 10-D,
      if the answer to the questions should be “no”. The Securities Administrator
      shall be entitled to rely on the representations in Section 2.06(vii) and
      in any such notice in preparing, executing and/or filing any such report. The
      parties to this Agreement acknowledge that the performance by the Master
      Servicer and the Securities Administrator of their respective duties under
      Sections 3.18(a)(i) and (vi) related to the timely preparation, execution and
      filing of Form 10-D is contingent upon such parties strictly observing all
      applicable deadlines in the performance of their duties under such Sections.
      Neither the Master Servicer nor the Securities Administrator shall have any
      liability for any loss, expense, damage, claim arising out of or with respect
      to
      any failure to properly prepare, execute and/or timely file such Form 10-D,
      where such failure results from the Master Servicer’s or the Securities
      Administrator’s inability or failure to receive, on a timely basis, any
      information from any other party hereto needed to prepare, arrange for execution
      or file such Form 10-D, not resulting from its own negligence, bad faith or
      willful misconduct. 

     

    (ii)
      (A)
      Within four (4) Business Days after the occurrence of an event requiring
      disclosure on Form 8-K (each such event, a “Reportable Event”), the Securities
      Administrator shall prepare and file, at the direction of the Depositor, on
      behalf of the Trust, any Form 8-K, as required by the Exchange Act; provided
      that, the Depositor shall file the initial Form 8-K in connection with the
      issuance of the Certificates. Any disclosure or information related to a
      Reportable Event or that is otherwise required to be included on Form 8-K (“Form
      8-K Disclosure Information”) shall be, pursuant to the paragraph immediately
      below, reported by the parties set forth on Exhibit N to the Securities
      Administrator and the Depositor and approved by the Depositor, and the
      Securities Administrator will have no duty or liability for any failure
      hereunder to determine or prepare any Form 8-K Disclosure Information absent
      such reporting (other than in the case where the Securities Administrator is
      the
      reporting party as set forth in Exhibit N) and approval.

     

    (B)
      For
      so long as the Trust is subject to the Exchange Act reporting requirements,
      no
      later than the close of business on the 2nd Business Day after the occurrence
      of
      a Reportable Event (i) the parties set forth in Exhibit N shall be required
      pursuant to Section 3.18(a)(iv) below to provide to the Securities Administrator
      and the Depositor, to the extent known by a responsible officer thereof, in
      EDGAR-compatible format, or in such other form as otherwise agreed upon by
      the
      Securities Administrator and the Depositor and such party, the form and
      substance of any Form 8-K Disclosure Information, if applicable, and (ii) the
      Depositor shall approve, as to form and substance, or disapprove, as the case
      may be, the inclusion of the Form 8-K Disclosure Information on Form 8-K. The
      Depositor shall be responsible for any reasonable fees and expenses assessed
      or
      incurred by the Securities Administrator in connection with including any Form
      8-K Disclosure Information on Form 8-K pursuant to this Section. 

     

    (C)
      After
      preparing the Form 8-K, the Securities Administrator shall forward
      electronically a copy of the Form 8-K to the Depositor and the Master Servicer
      for review. No later than the close of business New York City time on the 3rd
      Business Day after the Reportable Event, or in the case where the Master
      Servicer and Securities Administrator are affiliated, no later than noon New
      York City time on the 4th Business Day after the Reportable Event, a duly
      authorized officer of the Master Servicer shall sign the Form 8-K and, in the
      case where the Master Servicer and the Securities Administrator are not
      affiliated, return an electronic or fax copy of such signed Form 8-K (with
      an
      original executed hard copy to follow by overnight mail) to the Securities
      Administrator. Promptly, but no later than the close of business on the 3rd
      Business Day after the Reportable Event (provided that, the Securities
      Administrator forwards a copy of the Form 8-K no later than noon New York time
      on the third Business Day after the Reportable Event), the Depositor shall
      notify the Securities Administrator in writing (which may be furnished
      electronically) of any changes to or approval of such Form 8-K. In the absence
      of receipt of any written changes or approval, the Securities Administrator
      shall be entitled to assume that such Form 8-K is in final form and the
      Securities Administrator may proceed with the execution and filing of the Form
      8-K. If a Form 8-K cannot be filed on time or if a previously filed Form 8-K
      needs to be amended, the Securities Administrator shall follow the procedures
      set forth in Section 3.18(a)(v)(B). Promptly (but no later than one (1) Business
      Day) after filing with the Commission, the Securities Administrator shall,
      make
      available on its internet website a final executed copy of each Form 8-K filed
      by the Securities Administrator. The signing party at the Master Servicer can
      be
      contacted as set forth in Section 12.07. The parties to this Agreement
      acknowledge that the performance by Master Servicer and the Securities
      Administrator of their respective duties under this Section 3.18(a)(ii) related
      to the timely preparation, execution and filing of Form 8-K is contingent upon
      such parties strictly observing all applicable deadlines in the performance
      of
      their duties under this Section 3.18(a)(ii). Neither the Master Servicer nor
      the
      Securities Administrator shall have any liability for any loss, expense, damage,
      claim arising out of or with respect to any failure to properly prepare, execute
      and/or timely file such Form 8-K, where such failure results from the Master
      Servicer’s or the Securities Administrator’s inability or failure to receive, on
      a timely basis, any information from any other party hereto needed to prepare,
      arrange for execution or file such Form 8-K, not resulting from its own
      negligence, bad faith or willful misconduct.

     

    (iii)
      (A)
      Within 90 days after the end of each fiscal year of the Trust or such earlier
      date as may be required by the Exchange Act (the “10-K Filing Deadline”) (it
      being understood that the fiscal year for the Trust ends on December 31st of
      each year), commencing in March 2007, the Securities Administrator shall prepare
      and file on behalf of the Trust a Form 10-K, in form and substance as required
      by the Exchange Act. Each such Form 10-K shall include the following items,
      in
      each case to the extent they have been delivered to the Securities Administrator
      within the applicable time frames set forth in this Agreement, (I) an annual
      compliance statement for the Master Servicer, the Securities Administrator
      and
      any subservicer or subcontractor, as applicable, as described under Section
      3.16, (II)(A) the annual reports on assessment of compliance with Servicing
      Criteria for the Master Servicer, each subservicer and subcontractor
      participating in the servicing function, the Securities Administrator and the
      Custodian, as described under Section 3.17, and (B) if any such report on
      assessment of compliance with Servicing Criteria described under Section 3.17
      identifies any material instance of noncompliance, disclosure identifying such
      instance of noncompliance, or if any such report on assessment of compliance
      with Servicing Criteria described under Section 3.17 is not included as an
      exhibit to such Form 10-K, disclosure that such report is not included and
      an
      explanation why such report is not included, (III)(A) the registered public
      accounting firm attestation report for the Master Servicer, the Securities
      Administrator, each subservicer, each subcontractor, as applicable, and the
      Custodian, as described under Section 3.17, and (B) if any registered public
      accounting firm attestation report described under Section 3.17 identifies
      any
      material instance of noncompliance, disclosure identifying such instance of
      noncompliance, or if any such registered public accounting firm attestation
      report is not included as an exhibit to such Form 10-K, disclosure that such
      report is not included and an explanation why such report is not included,
      and
      (IV) a Sarbanes-Oxley Certification as described in Section 3.18 (a)(iii)(D)
      below (provided, however, that the Securities Administrator, at its discretion,
      may omit from the Form 10-K any annual compliance statement, assessment of
      compliance or attestation report that is not required to be filed with such
      Form
      10-K pursuant to Regulation AB). Any disclosure or information in addition
      to
      (I) through (IV) above that is required to be included on Form 10-K (“Additional
      Form 10-K Disclosure”) shall be, pursuant to the paragraph immediately below,
      reported by the parties set forth on Exhibit N to the Securities Administrator
      and the Depositor and approved by the Depositor, and the Securities
      Administrator will have no duty or liability for any failure hereunder to
      determine or prepare any Additional Form 10-K Disclosure absent such reporting
      (other than in the case where the Securities Administrator is the reporting
      party as set forth in Exhibit N) and approval.

     

    (B)
      No
      later than March 15th of each year that the Trust is subject to the Exchange
      Act
      reporting requirements, commencing in 2007, (i) the parties set forth in Exhibit
      N shall be required to provide pursuant to Section 3.18(a)(iv) below to the
      Securities Administrator and the Depositor, to the extent known by a responsible
      officer thereof, in EDGAR-compatible format, or in such other form as otherwise
      agreed upon by the Securities Administrator and the Depositor and such party,
      the form and substance of any Additional Form 10-K Disclosure, if applicable,
      and (ii) the Depositor will approve, as to form and substance, or disapprove,
      as
      the case may be, the inclusion of the Additional Form 10-K Disclosure on Form
      10-K. The Depositor shall be responsible for any reasonable fees and expenses
      assessed or incurred by the Securities Administrator in connection with
      including any Additional Form 10-K Disclosure on Form 10-K pursuant to this
      Section.

     

    (C)
      After
      preparing the Form 10-K, the Securities Administrator shall forward
      electronically a copy of the Form 10-K to the Depositor (only in the case where
      such Form 10-K includes Additional Form 10-K Disclosure) and the Master Servicer
      for review. Within three Business Days after receipt of such copy, but no later
      than March 25th (provided that, the Securities Administrator forwards a copy
      of
      the Form 10-K no later than the third Business Day prior to March 25th), the
      Depositor shall notify the Securities Administrator in writing (which may be
      furnished electronically) of any changes to or approval of such Form 10-K.
      In
      the absence of receipt of any written changes or approval, the Securities
      Administrator shall be entitled to assume that such Form 10-K is in final form
      and the Securities Administrator may proceed with the execution and filing
      of
      the Form 10-K. No later than the close of business Eastern Standard time on
      the
      4th Business Day prior to the 10-K Filing Deadline, an officer of the Master
      Servicer in charge of the master servicing function shall sign the Form 10-K
      and, in the case where the Master Servicer and the Securities Administrator
      are
      unaffiliated, return an electronic or fax copy of such signed Form 10-K (with
      an
      original executed hard copy to follow by overnight mail) to the Securities
      Administrator. If a Form 10-K cannot be filed on time or if a previously filed
      Form 10-K needs to be amended, the Securities Administrator will follow the
      procedures set forth in Section 3.18(a)(vi). Promptly (but no later than one
      (1)
      Business Day) after filing with the Commission, the Securities Administrator
      shall make available on its internet website a final executed copy of each
      Form
      10-K filed by the Securities Administrator. The signing party at the Master
      Servicer can be contacted as set forth in Section 12.07. Form 10-K requires
      the
      registrant to indicate (by checking “yes” or “no”) that it (1) has filed all
      reports required to be filed by Section 13 or 15(d) of the Exchange Act during
      the preceding 12 months (or for such shorter period that the registrant was
      required to file such reports), and (2) has been subject to such filing
      requirements for the past 90 days. The Depositor shall notify the Securities
      Administration in writing, no later than March 15th after the related
      Distribution Date with respect to the filing of a report on Form 10-K, if the
      answer to the questions should be “no”. The Securities Administrator shall be
      entitled to rely on the representations in Section 2.06(vii) and in any
      such notice in preparing, executing and/or filing any such report. The
      parties to this Agreement acknowledge that the performance by the Master
      Servicer and the Securities Administrator of their respective duties under
      Sections 3.18(a)(iv) and (v) related to the timely preparation, execution and
      filing of Form 10-K is contingent upon such parties strictly observing all
      applicable deadlines in the performance of their duties under such Sections
      and
      Sections 3.16 and Section 3.17. Neither the Master Servicer nor the Securities
      Administrator shall have any liability for any loss, expense, damage, claim
      arising out of or with respect to any failure to properly prepare, execute
      and/or timely file such Form 10-K, where such failure results from the Master
      Servicer’s or the Securities Administrator’s inability or failure to receive, on
      a timely basis, any information from any other party hereto needed to prepare,
      arrange for execution or file such Form 10-K, not resulting from its own
      negligence, bad faith or willful misconduct. 

     

    (D)
      Each
      Form 10-K shall include a certification (the “Sarbanes-Oxley Certification”)
      required to be included therewith pursuant to the Sarbanes-Oxley Act which
      shall
      be signed by the Certifying Person and delivered to the Securities Administrator
      no later than March 15th of each year in which the Trust is subject to the
      reporting requirements of the Exchange Act. The Master Servicer shall cause
      any
      Servicer, subservicer or subcontractor engaged by it to provide to the Person
      who signs the Sarbanes-Oxley Certification (the “Certifying Person”), by March
      10th of each year in which the Trust is subject to the reporting requirements
      of
      the Exchange Act and otherwise within a reasonable period of time upon request,
      a certification (each, a “Back-Up Certification”), in the form attached hereto
      as Exhibit L, upon which the Certifying Person, the entity for which the
      Certifying Person acts as an officer, and such entity’s officers, directors and
      Affiliates (collectively with the Certifying Person, “Certification Parties”)
      can reasonably rely. An officer of the Master Servicer in charge of the master
      servicing function shall serve as the Certifying Person on behalf of the Trust.
      Such officer of the Certifying Person can be contacted as set forth in Section
      12.07.

     

    (iv)
      With
      respect to any Additional Form 10-D Disclosure, Additional Form 10-K Disclosure
      or any Form 8-K Disclosure Information (collectively, the “Additional
      Disclosure”) relating to the Trust Fund, the Securities Administrator’s
      obligation to include such Additional Information in the applicable Exchange
      Act
      report is subject to receipt from the entity that is indicated in Exhibit N
      as
      the responsible party for providing that information, if other than the
      Securities Administrator, as and when required as described in Section
      3.18(a)(i) through (iv) above. Such Additional Disclosure shall be accompanied
      by a notice substantially in the form of Exhibit O. Each of the Master Servicer,
      the Seller, the Securities Administrator and the Depositor hereby agrees to
      notify and provide to the extent known to the Master Servicer, the Seller,
      the
      Securities Administrator and the Depositor all Additional Disclosure relating
      to
      the Trust Fund, with respect to which such party is indicated in Exhibit N
      as
      the responsible party for providing that information. The Depositor shall be
      responsible for any reasonable fees and expenses assessed or incurred by the
      Securities Administrator in connection with including any Additional Disclosure
      information pursuant to this Section.

     

    So
      long
      as the Depositor is subject to the filing requirements of the Exchange Act
      with
      respect to the Trust Fund, the Trustee shall notify the Securities Administrator
      and the Depositor of any bankruptcy or receivership with respect to the Trustee
      or of any proceedings of the type described under Item 1117 of Regulation AB
      that have occurred as of the related Due Period, together with a description
      thereof, no later than the date on which such information is required of other
      parties hereto as set forth under this Section 3.18. In addition, the Trustee
      shall notify the Securities Administrator and the Depositor of any affiliations
      or relationships that develop after the Closing Date between the Trustee and
      the
      Depositor, the Seller, the Securities Administrator, the Master Servicer or
      the
      Custodian of the type described under Item 1119 of Regulation AB, together
      with
      a description thereof, no later than the date on which such information is
      required of other parties hereto as set forth under this Section 3.18. Should
      the identification of any of the Depositor, the Seller, the Securities
      Administrator, the Master Servicer or the Custodian change, the Depositor shall
      promptly notify the Trustee in writing.

     

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

     

    (B)
      In
      the event that the Securities Administrator is unable to timely file with the
      Commission all or any required portion of any Form 8-K, 10-D or 10-K required
      to
      be filed by this Agreement because required disclosure information was either
      not delivered to it or delivered to it after the delivery deadlines set forth
      in
      this Agreement or for any other reason, the Securities Administrator shall
      promptly notify the Depositor and the Master Servicer. In the case of Form
      10-D
      and 10-K, the Depositor, the Master Servicer and the Securities Administrator
      shall cooperate to prepare and file a Form 12b-25 and a 10-DA and 10-KA as
      applicable, pursuant to Rule 12b-25 of the Exchange Act. In the case of Form
      8-K, the Securities Administrator will, upon receipt of all required Form 8-K
      Disclosure Information and upon the approval and direction of the Depositor,
      include such disclosure information on the next Form 10-D. In the event that
      any
      previously filed Form 8-K, 10-D or 10-K needs to be amended, and such amendment
      relates to any Additional Disclosure, the Securities Administrator shall notify
      the Depositor and the parties affected thereby and such parties will cooperate
      to prepare any necessary Form 8-K, 10-DA or 10-KA. Any Form 15, Form 12b-25
      or
      any amendment to Form 8-K, 10-D or 10-K shall be signed by an appropriate
      officer of the Master Servicer. The parties hereto acknowledge that the
      performance by the Master Servicer and the Securities Administrator of their
      respective duties under this Section 3.18(a)(v) related to the timely
      preparation, execution and filing of Form 15, a Form 12b-25 or any amendment
      to
      Form 8-K, 10-D or 10-K is contingent upon the Master Servicer and the Depositor
      timely performing their duties under this Section. Neither the Master Servicer
      nor the Securities Administrator shall have any liability for any loss, expense,
      damage, claim arising out of or with respect to any failure to properly prepare,
      execute and/or timely file any such Form 15, Form 12b-25 or any amendments
      to
      Form 8-K, 10-D or 10-K, where such failure results from the Master Servicer’s or
      the Securities Administrator’s inability or failure to receive, on a timely
      basis, any information from any other party hereto needed to prepare, arrange
      for execution or file such Form 15, Form 12b-25 or any amendments to Form 8-K,
      10-D or 10-K, not resulting from its own negligence, bad faith or willful
      misconduct.

     

    The
      Depositor agrees to promptly furnish to the Securities Administrator, from
      time
      to time upon request, such further information, reports and financial statements
      within its control related to this Agreement, the Mortgage Loans as the
      Securities Administrator reasonably deems appropriate to prepare and file all
      necessary reports with the Commission. The Securities Administrator shall have
      no responsibility to file any items other than those specified in this Section
      3.18; provided, however, the Securities Administrator shall cooperate with
      the
      Depositor in connection with any additional filings with respect to the Trust
      Fund as the Depositor deems necessary under the Exchange Act. Fees and expenses
      incurred by the Securities Administrator in connection with this Section 3.18
      shall not be reimbursable from the Trust Fund.

     

    (b) In
      connection with the filing of any 10-K hereunder, in the case where the Master
      Servicer and Securities Administrator are not affiliated, the Securities
      Administrator shall sign a Back-Up Certification substantially in the form
      of
      Exhibit L; provided, however, that the Securities Administrator shall not be
      required to undertake an analysis of any accountant’s report attached as an
      exhibit to the Form 10-K. 

    (c) The
      Securities Administrator shall indemnify and hold harmless the Depositor and
      the
      Master Servicer and each of its officers, directors and affiliates from and
      against any losses, damages, penalties, fines, forfeitures, reasonable and
      necessary legal fees and related costs, judgments and other costs and expenses
      arising out of or based upon a breach of the Securities Administrator’s
      obligations under Sections 3.16, 3.17 and 3.18 or the Securities Administrator’s
      negligence, bad faith or willful misconduct in connection therewith. In
      addition, the Securities Administrator shall indemnify and hold harmless the
      Depositor and the Master Servicer and each of their respective officers,
      directors and affiliates from and against any losses, damages, penalties, fines,
      forfeitures, reasonable and necessary legal fees and related costs, judgments
      and other costs and expenses arising out of or based upon (i) any untrue
      statement or alleged untrue statement of any material fact contained in any
      Back-Up Certification, any Annual Statement of Compliance, any Assessment of
      Compliance or any Additional Disclosure provided by the Securities Administrator
      on its behalf or on behalf of any subservicer or subcontractor engaged by the
      Securities Administrator pursuant to Section 3.16, 3.17 or 3.18 (the “Securities
      Administrator Information”), or (ii) any omission or alleged omission to state
      therein a material fact required to be stated therein or necessary to make
      the
      statements therein, in light of the circumstances in which they were made,
      not
      misleading; provided, by way of clarification, that this paragraph shall be
      construed solely by reference to the Securities Administrator Information and
      not to any other information communicated in connection with the Certificates,
      without regard to whether the Securities Administrator Information or any
      portion thereof is presented together with or separately from such other
      information.

     

    The
      Depositor shall indemnify and hold harmless the Securities Administrator and
      the
      Master Servicer and each of its officers, directors and affiliates from and
      against any losses, damages, penalties, fines, forfeitures, reasonable and
      necessary legal fees and related costs, judgments and other costs and expenses
      arising out of or based upon a breach of the obligations of the Depositor under
      Sections 3.16, 3.17 and 3.18 or the Depositor’s negligence, bad faith or willful
      misconduct in connection therewith. In addition, the Depositor shall indemnify
      and hold harmless the Master Servicer, the Securities Administrator and each
      of
      their respective officers, directors and affiliates from and against any losses,
      damages, penalties, fines, forfeitures, reasonable and necessary legal fees
      and
      related costs, judgments and other costs and expenses arising out of or based
      upon (i) any untrue statement or alleged untrue statement of any material fact
      contained in any Additional Disclosure provided by the Depositor that is
      required to be filed pursuant to this Section 3.18 (the “Depositor
      Information”), or (ii) any omission or alleged omission to state therein a
      material fact required to be stated therein or necessary to make the statements
      therein, in light of the circumstances in which they were made, not misleading;
      provided, by way of clarification, that this paragraph shall be construed solely
      by reference to the Depositor Information that is required to be filed and
      not
      to any other information communicated in connection with the Certificates,
      without regard to whether the Depositor Information or any portion thereof
      is
      presented together with or separately from such other information.

     

    The
      Master Servicer shall indemnify and hold harmless the Securities Administrator
      and the Depositor and each of its respective officers, directors and affiliates
      from and against any losses, damages, penalties, fines, forfeitures, reasonable
      and necessary legal fees and related costs, judgments and other costs and
      expenses arising out of or based upon a breach of the obligations of the Master
      Servicer under Sections 3.16, 3.17 and 3.18 or the Master Servicer’s negligence,
      bad faith or willful misconduct in connection therewith. In addition, the Master
      Servicer shall indemnify and hold harmless the Depositor and each of its
      officers, directors and affiliates from and against any losses, damages,
      penalties, fines, forfeitures, reasonable and necessary legal fees and related
      costs, judgments and other costs and expenses arising out of or based upon
      (i)
      any untrue statement or alleged untrue statement of any material fact contained
      in any Annual Statement of Compliance, any Assessment of Compliance or any
      Additional Disclosure provided by the Master Servicer on its behalf or on behalf
      of any subservicer or subcontractor engaged by the Master Servicer pursuant
      to
      Section 3.16, 3.17 or 3.18 (the “Master Servicer Information”), or (ii) any
      omission or alleged omission to state therein a material fact required to be
      stated therein or necessary to make the statements therein, in light of the
      circumstances in which they were made, not misleading; provided, by way of
      clarification, that this paragraph shall be construed solely by reference to
      the
      Master Servicer Information and not to any other information communicated in
      connection with the Certificates, without regard to whether the Master Servicer
      Information or any portion thereof is presented together with or separately
      from
      such other information.

     

    If
      the
      indemnification provided for herein is unavailable or insufficient to hold
      harmless the Depositor, the Securities Administrator or the Master Servicer,
      as
      applicable, then the defaulting party, in connection with any conduct for which
      it is providing indemnification under this Section 3.18(c), agrees that it
      shall
      contribute to the amount paid or payable by the other parties as a result of
      the
      losses, claims, damages or liabilities of the other party in such proportion
      as
      is appropriate to reflect the relative fault and the relative benefit of the
      respective parties.

     

    The
      indemnification provisions set forth in this Section 3.18(c) shall survive
      the
      termination of this Agreement or the termination of any party to this
      Agreement.

     

    (d) Failure
      of the Master Servicer to comply with this Section 3.18 (including with respect
      to the timeframes required herein) shall, upon written notice from the Trustee
      at the written direction of the Depositor, constitute an Event of Default,
      and
      the Trustee shall, in addition to whatever rights the Trustee may have under
      this Agreement and at law or equity or to damages, including injunctive relief
      and specific performance, upon notice immediately terminate all of the rights
      and obligations of the Master Servicer under this Agreement and in and to the
      Mortgage Loans and the proceeds thereof without compensating the Master Servicer
      for the same (but subject to the Master Servicer’s rights to payment of any
      Master Servicing compensation and reimbursement of all amounts for which it
      is
      entitled to be reimbursed prior to the date of termination). Failure of the
      Securities Administrator to comply with this Section 3.18 (including with
      respect to the timeframes required in this Section) which failure results in
      a
      failure to timely file the related Form 10-K, shall, upon written notice from
      the Trustee at the written direction of the Depositor, constitute a default
      and
      the Trustee at the written direction of the Depositor shall, in addition to
      whatever rights the Trustee may have under this Agreement and at law or equity
      or to damages, including injunctive relief and specific performance, upon notice
      immediately terminate all of the rights and obligations of the Securities
      Administrator under this Agreement and in and to the Mortgage Loans and the
      proceeds thereof without compensating the Securities Administrator for the
      same
      (but subject to the Securities Administrator’s right to reimbursement of all
      amounts for which it is entitled to be reimbursed prior to the date of
      termination). This paragraph shall supersede any other provision in this
      Agreement or any other agreement to the contrary. In connection with the
      termination of the Master Servicer or the Securities Administrator pursuant
      to
      this Section 3.18(d), the Trustee shall be entitled to reimbursement of all
      costs and expenses associated with such termination to the extent set forth
      in
      Section 9.05. Notwithstanding anything to the contrary in this Agreement, no
      Event of Default by the Master Servicer or default by the Securities
      Administrator shall have occurred with respect to any failure to properly
      prepare, execute and/or timely file any report on Form 8-K, Form 10-D or Form
      10-K, any Form 15 or Form 12b-25 or any amendments to Form 8-K, 10-D or 10-K,
      where such failure results from the Master Servicer’s or the Securities
      Administrator’s inability or failure to receive, on a timely basis, any
      information from any other party hereto needed to prepare, arrange for execution
      or file any such report, Form or amendment, and does not result from its own
      negligence, bad faith or willful misconduct.

     

    (e) Notwithstanding
      the provisions of Section 12.02, this Section 3.18 may be amended without the
      consent of the Certificateholders.

     

    (f) Any
      report, notice or notification to be delivered by the Master Servicer or the
      Securities Administrator to the Depositor pursuant to this Section 3.18, may
      be
      delivered via email to RegABNotifications@bear.com or, in the case of a
      notification, telephonically by calling Reg AB Compliance Manager at
      212-272-7525.

     

    Section
      3.19  UCC.

     

    The
      Depositor shall inform the Trustee in writing of any Uniform Commercial Code
      financing statements that  were filed on the Closing Date in
      connection with the Trust with stamped recorded copies of such financing
      statements to be delivered to the Trustee promptly upon receipt by the
      Depositor.  The Trustee agrees to monitor and notify the Depositor if
      any continuation statements for such Uniform Commercial Code financing
      statements need to be filed. If directed by the Depositor in writing, the
      Trustee will file any such continuation statements solely at the expense of
      the
      Depositor. The Depositor shall file any financing statements or amendments
      thereto required by any change in the Uniform Commercial Code.

     

    Section
      3.20  Optional
      Purchase of Defaulted Mortgage Loans.

     

    (a)  With
      respect to any Mortgage Loan which as of the first day of a Fiscal Quarter
      is
      delinquent in payment by 90 days or more or is an REO Property, EMC shall have
      the right to purchase such Mortgage Loan from the Trust at a price equal to
      the
      Repurchase Price; provided however (i) that such Mortgage Loan is still 90
      days
      or more delinquent or is an REO Property as of the date of such purchase and
      (ii) this purchase option, if not theretofore exercised, shall terminate on
      the
      date prior to the last day of the related Fiscal Quarter. This purchase option,
      if not exercised, shall not be thereafter reinstated unless the delinquency
      is
      cured and the Mortgage Loan thereafter again becomes 90 days or more delinquent
      or becomes an REO Property, in which case the option shall again become
      exercisable as of the first day of the related Fiscal Quarter.

     

    (b)  If
      at any
      time EMC remits to the Master Servicer a payment for deposit in the Distribution
      Account covering the amount of the Repurchase Price for such a Mortgage Loan,
      and EMC provides to the Trustee a certification signed by a Servicing Officer
      stating that the amount of such payment has been deposited in the Distribution
      Account, then the Trustee shall execute the assignment of such Mortgage Loan
      prepared and delivered to the Trustee, at the request of EMC, without recourse,
      representation or warranty, to EMC which shall succeed to all of the Trustee’s
      right, title and interest in and to such Mortgage Loan, and all security and
      documents relative thereto. Such assignment shall be an assignment outright
      and
      not for security. EMC will thereupon own such Mortgage, and all such security
      and documents, free of any further obligation to the Trustee or the
      Certificateholders with respect thereto.

     

    Section
      3.21  Intention
      of the Parties and Interpretation.

     

    Each
      of
      the parties acknowledges and agrees that the purpose of Sections 3.16, 3.17
      and
      3.18 of this Agreement is to facilitate compliance by the Seller, the Depositor
      and the Master Servicer with the provisions of Regulation AB. Therefore, each
      of
      the parties agrees that (a) the obligations of the parties hereunder shall
      be
      interpreted in such a manner as to accomplish that purpose, (b) the parties’
obligations hereunder will be supplemented and modified as necessary to be
      consistent with any such amendments, interpretive advice or guidance, convention
      or consensus among active participants in the asset-backed securities markets,
      advice of counsel, or otherwise in respect of the requirements of Regulation
      AB,
      (c) the parties shall comply with reasonable requests made by the Seller, the
      Depositor, the Master Servicer or the Securities Administrator for delivery
      of
      additional or different information as the Seller, the Depositor, the Master
      Servicer or the Securities Administrator may determine in good faith is
      necessary to comply with the provisions of Regulation AB, and (d) no amendment
      of this Agreement shall be required to effect any such changes in the
      obligations of the parties to this transaction as are necessary to accommodate
      evolving interpretations of the provisions of Regulation AB.

     

    ARTICLE
      IV

    ACCOUNTS

     

    Section
      4.01  Protected
      Accounts.

     

    (a)  The
      Master Servicer shall enforce the obligation of each Servicer to establish
      and
      maintain a Protected Account in accordance with the applicable Servicing
      Agreement, with records to be kept with respect thereto on a Mortgage Loan by
      Mortgage Loan basis, into which accounts shall be deposited within 48 hours
      (or
      as of such other time specified in the related Servicing Agreement) of receipt,
      all collections of principal and interest on any Mortgage Loan and any REO
      Property received by a Servicer, including Principal Prepayments, Insurance
      Proceeds, Liquidation Proceeds, and advances made from the Servicer’s own funds
      (less servicing compensation as permitted by the applicable Servicing Agreement
      in the case of any Servicer) and all other amounts to be deposited in the
      Protected Account. The Servicer is hereby authorized to make withdrawals from
      and deposits to the related Protected Account for purposes required or permitted
      by this Agreement. To the extent provided in the related Servicing Agreement,
      the Protected Account shall be held by a Designated Depository Institution
      and
      segregated on the books of such institution in the name of the Trustee for
      the
      benefit of Certificateholders.

     

    (b)  To
      the
      extent provided in the related Servicing Agreement, amounts on deposit in a
      Protected Account may be invested in Permitted Investments in the name of the
      Trustee for the benefit of Certificateholders and, except as provided in the
      preceding paragraph, not commingled with any other funds. Such Permitted
      Investments shall mature, or shall be subject to redemption or withdrawal,
      no
      later than the date on which such funds are required to be withdrawn for deposit
      in the Distribution Account, and shall be held until required for such deposit.
      The income earned from Permitted Investments made pursuant to this Section
      4.01
      shall be paid to the related Servicer under the applicable Servicing Agreement,
      and the risk of loss of moneys required to be distributed to the
      Certificateholders resulting from such investments shall be borne by and be
      the
      risk of the related Servicer. The related Servicer (to the extent provided
      in
      the Servicing Agreement) shall deposit the amount of any such loss in the
      Protected Account within two Business Days of receipt of notification of such
      loss but not later than the second Business Day prior to the Distribution Date
      on which the moneys so invested are required to be distributed to the
      Certificateholders.

     

    (c)  To
      the
      extent provided in the related Servicing Agreement and subject to this Article
      IV, on or before each Servicer Remittance Date, the related Servicer shall
      withdraw or shall cause to be withdrawn from its Protected Accounts and shall
      immediately deposit or cause to be deposited in the Distribution Account amounts
      representing the following collections and payments (other than with respect
      to
      principal of or interest on the Mortgage Loans due on or before the Cut-off
      Date) with respect to each Loan Group:

     

    (i)  Scheduled
      Payments on the Mortgage Loans received or any related portion thereof advanced
      by such Servicer pursuant to its Servicing Agreement which were due on or before
      the related Due Date, net of the amount thereof comprising its Servicing Fee
      or
      any fees with respect to any lender-paid primary mortgage insurance
      policy;

     

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

     

    (iii)  Partial
      Principal Prepayments received by such Servicer for the Mortgage Loans in the
      related Prepayment Period; and

     

    (iv)  Any
      amount to be used as a Monthly Advance.

     

    (d)  Withdrawals
      may be made from an Account only to make remittances as provided in Section
      4.01(c), 4.04 and 4.05; to reimburse the Master Servicer or a Servicer for
      Monthly Advances which have been recovered by subsequent collections from the
      related Mortgagor; to remove amounts deposited in error; to remove fees, charges
      or other such amounts deposited on a temporary basis; or to clear and terminate
      the account at the termination of this Agreement in accordance with Section
      10.01. As provided in Sections 4.01(a) and 4.04 certain amounts otherwise due
      to
      the Servicers may be retained by them and need not be deposited in the
      Distribution Account.

     

    (e)  In
      the
      event that the Master Servicer and Securities Administrator are no longer
      affiliated, the Master Servicer shall establish and maintain an account separate
      from the Distribution Account into which any funds remitted by the Servicers
      will be deposited. No later than noon. New York time on the Business Day prior
      to each Distribution Date, the Master Servicer shall remit any such funds to
      the
      Paying Agent for deposit in the Distribution Account. The Master Servicer shall
      make the following permitted withdrawals and transfers from such
      account:

     

    (i) The
      Master Servicer will, from time to time on demand of a Servicer or the
      Securities Administrator, make or cause to be made such withdrawals or transfers
      from the account as the Master Servicer has designated for such transfer or
      withdrawal pursuant to this Agreement and the related Servicing Agreement.
      The
      Master Servicer may clear and terminate the account pursuant to Section 10.01
      and remove amounts from time to time deposited in error.

     

    (ii) On
      an
      ongoing basis, the Master Servicer shall withdraw from the account (i) any
      expenses, costs and liabilities recoverable by the Trustee, the Master Servicer
      or the Securities Administrator or the Custodian pursuant to Sections 3.03,
      7.04
      and 9.05 and (ii) any amounts payable to the Master Servicer as set forth in
      Section 3.14; provided, however, that the Master Servicer shall be obligated
      to
      pay from its own funds any amounts which it is required to pay under Section
      7.03(a).

     

    (iii) In
      addition, on or before each Business Day prior to each Distribution Date, the
      Master Servicer shall deposit in the Distribution Account (or remit to the
      Trustee for deposit therein) any Monthly Advances required to be made by the
      Master Servicer with respect to the Mortgage Loans.

     

    (iv) No
      later
      than noon. New York time on each Business Day prior to each Distribution Date,
      the Master Servicer will transfer all Available Funds on deposit in the account
      with respect to the related Distribution Date to the Paying Agent for deposit
      in
      the Distribution Account.

     

    Section
      4.02  [Reserved].

     

    Section
      4.03  [Reserved].

     

    Section
      4.04  Distribution
      Account.

     

    (a)  The
      Paying Agent shall establish and maintain in the name of the Trustee, for the
      benefit of the Certificateholders, the Distribution Account as a segregated
      trust account or accounts. The Distribution Account shall be an Eligible
      Account. The Master Servicer or Servicers, as the case may be, will remit to
      the
      Securities Administrator for deposit in the Distribution Account, the following
      amounts:

     

    (i)  Any
      amounts withdrawn from a Protected Account;

     

    (ii)  Any
      Monthly Advance and any Compensating Interest Payments;

     

    (iii)  Any
      Insurance Proceeds or Net Liquidation Proceeds received by or on behalf of
      the
      Master Servicer or which were not deposited in a Protected Account;

     

    (iv)  The
      Repurchase Price with respect to any Mortgage Loans purchased by the Seller
      pursuant to the Mortgage Loan Purchase Agreement or Sections 2.02 or 2.03
      hereof, any amounts which are to be treated pursuant to Section 2.04 of this
      Agreement as the payment of a Repurchase Price in connection with the tender
      of
      a Substitute Mortgage Loan by the Seller, the Repurchase Price with respect
      to
      any Mortgage Loans purchased by EMC pursuant to Section 3.20, and all proceeds
      of any Mortgage Loans or property acquired with respect thereto repurchased
      by
      the Depositor or its designee pursuant to Section 10.01;

     

    (v)  Any
      amounts required to be deposited with respect to losses on investments of
      deposits in an Account; and

     

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

     

    (b)  All
      amounts deposited to the Distribution Account shall be held by the Securities
      Administrator in the name of the Trustee in trust for the benefit of the
      Certificateholders in accordance with the terms and provisions of this
      Agreement. The requirements for crediting the Distribution Account shall be
      exclusive, it being understood and agreed that, without limiting the generality
      of the foregoing, payments in the nature of (i) prepayment or late payment
      charges or assumption, tax service, statement account or payoff, substitution,
      satisfaction, release and other like fees and charges and (ii) the items
      enumerated in Subsections 4.05(a)(i), (ii), (iii), (iv), (vi), (vii), (viii),
      (ix) and (x), need not be credited by the Master Servicer or the related
      Servicer to the Distribution Account. In the event that the Master Servicer
      shall deposit or cause to be deposited to the Distribution Account any amount
      not required to be credited thereto, the Trustee, upon receipt of a written
      request therefor signed by a Servicing Officer of the Master Servicer, shall
      promptly transfer such amount to the Master Servicer, any provision herein
      to
      the contrary notwithstanding.

     

    (c)  The
      Distribution Account shall constitute a trust account of the Trust Fund
      segregated on the books of the Paying Agent and held by the Paying Agent in
      trust in its Corporate Trust Office, and the Distribution Account and the funds
      deposited therein shall not be subject to, and shall be protected from, all
      claims, liens, and encumbrances of any creditors or depositors of the Paying
      Agent or the Master Servicer (whether made directly, or indirectly through
      a
      liquidator or receiver of the Paying Agent or the Master Servicer). The
      Distribution Account shall be an Eligible Account. The amount at any time
      credited to the Distribution Account shall be (i) held in cash and fully insured
      by the FDIC to the maximum coverage provided thereby or (ii) invested in the
      name of the Paying Agent, in such Permitted Investments as may be selected
      by
      the Master Servicer or deposited in demand deposits with such depository
      institutions as may be selected by the Master Servicer, provided that time
      deposits of such depository institutions would be a Permitted Investment. All
      Permitted Investments shall mature or be subject to redemption or withdrawal
      on
      or before, and shall be held until, the next succeeding Distribution Date if
      the
      obligor for such Permitted Investment is the Paying Agent or, if such obligor
      is
      any other Person, the Business Day preceding such Distribution Date. All
      investment earnings on amounts on deposit in the Distribution Account or benefit
      from funds uninvested therein from time to time shall be for the account of
      the
      Master Servicer. The Master Servicer shall be permitted to receive distribution
      of all investment earnings from the Distribution Account earned on funds on
      deposit in the Distribution Account for a period not to exceed five Business
      Days prior to each Distribution Date and the Depositor or its designee shall
      be
      entitled to any investment earnings from the Distribution Account for any
      remaining days and shall instruct the Securities Administrator where to remit
      such investment earnings from the Distribution Account. If there is any loss
      on
      a Permitted Investment or demand deposit, the Master Servicer shall remit the
      amount of the related loss to the Paying Agent who shall deposit such amount
      in
      the Distribution Account. With respect to the Distribution Account and the
      funds
      deposited therein, the Master Servicer shall take such action as may be
      necessary to ensure that the Certificateholders shall be entitled to the
      priorities afforded to such a trust account (in addition to a claim against
      the
      estate of the Paying Agent) as provided by 12 U.S.C. § 92a(e), and applicable
      regulations pursuant thereto, if applicable, or any applicable comparable state
      statute applicable to state chartered banking corporations.

     

    Section
      4.05  Permitted
      Withdrawals and Transfers from the Distribution Account.

     

    (a)  The
      Paying Agent will, from time to time on demand of the Master Servicer or the
      Securities Administrator, make or cause to be made such withdrawals or transfers
      from the Distribution Account as the Master Servicer has designated for such
      transfer or withdrawal pursuant to this Agreement and the Servicing Agreements
      or as the Securities Administrator has instructed hereunder for the following
      purposes (limited in the case of amounts due the Master Servicer to those not
      withdrawn from the Distribution Account in accordance with the terms of this
      Agreement):

     

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

     

    (ii)  to
      reimburse the Master Servicer (i) any expenses, costs and liabilities
      recoverable by the Trustee, the Master Servicer or the Securities Administrator
      or the Custodian pursuant to Sections 3.03, 7.04 and 9.05 and (ii) any amounts
      payable to the Master Servicer as set forth in Section 3.14; provided, however,
      that the Master Servicer shall be obligated to pay from its own funds any
      amounts which it is required to pay under Section 7.03(a);

     

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

     

    (iv)  to
      reimburse the Master Servicer or any Servicer from Insurance Proceeds relating
      to a particular Mortgage Loan for insured expenses incurred with respect to
      such
      Mortgage Loan and to reimburse the Master Servicer or such Servicer from
      Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses
      incurred with respect to such Mortgage Loan; provided that the Master Servicer
      shall not be entitled to reimbursement for Liquidation Expenses with respect
      to
      a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage
      Loan were paid as Excess Liquidation Proceeds pursuant to clause (viii) of
      this
      Subsection 4.05 (a) to the Master Servicer; and (ii) such Liquidation Expenses
      were not included in the computation of such Excess Liquidation
      Proceeds;

     

    (v)  to
      reimburse the Master Servicer or any Servicer for advances of funds (other
      than
      Monthly Advances) made with respect to the Mortgage Loans, and the right to
      reimbursement pursuant to this subclause being limited to amounts received
      on
      the related Mortgage Loan (including, for this purpose, the Repurchase Price
      therefor, Insurance Proceeds and Liquidation Proceeds) which represent late
      recoveries of the payments for which such advances were made;

     

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

     

    (vii)  to
      pay
      the Master Servicer as set forth in Section 3.14;

     

    (viii)  to
      reimburse the Master Servicer for expenses, costs and liabilities incurred
      by
      and reimbursable to it pursuant to Sections 3.03 and 7.04(c) and
      (d);

     

    (ix)  to
      pay to
      the Master Servicer, as additional servicing compensation, any Excess
      Liquidation Proceeds to the extent not retained by the related
      Servicer;

     

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

     

    (xi)  to
      reimburse the Trustee, the Securities Administrator or the Custodian for
      expenses, costs and liabilities incurred by or reimbursable to it pursuant
      to
      this Agreement;

     

    (xii)  to
      remove
      amounts deposited in error; 

     

    (xiii)  to
      pay
      the Depositor all investment earnings to which it is entitled as set forth
      in
      Section 4.04(c); and

     

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

     

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

     

    (c) On
      each
      Distribution Date, the Paying Agent shall distribute the Available Funds to
      the
      extent on deposit in the Distribution Account for each Loan Group to the Holders
      of the Certificates in accordance with distribution instructions provided to
      it
      by the Securities Administrator no later than two Business Days prior to such
      Distribution Date and determined by the Securities Administrator in accordance
      with Section 6.01.

     

    ARTICLE
      V

    CERTIFICATES

     

    Section
      5.01  Certificates.

     

    (a)  The
      Depository, the Depositor and the Securities Administrator have entered into
      a
      Depository Agreement dated as of the Closing Date (the “Depository Agreement”).
      Except for the Residual Certificates, the Private Certificates and the
      Individual Certificates and as provided in Subsection 5.01(b), the Certificates
      shall at all times remain registered in the name of the Depository or its
      nominee and at all times: (i) registration of such Certificates may not be
      transferred by the Certificate Registrar except to a successor to the
      Depository; (ii) ownership and transfers of registration of such Certificates
      on
      the books of the Depository shall be governed by applicable rules established
      by
      the Depository; (iii) the Depository may collect its usual and customary fees,
      charges and expenses from its Depository Participants; (iv) the Certificate
      Registrar shall deal with the Depository as representative of such Certificate
      Owners of the respective Class of Certificates for purposes of exercising the
      rights of Certificateholders under this Agreement, and requests and directions
      for and votes of such representative shall not be deemed to be inconsistent
      if
      they are made with respect to different Certificate Owners; and (v) the
      Certificate Registrar may rely and shall be fully protected in relying upon
      information furnished by the Depository with respect to its Depository
      Participants.

     

    The
      Residual Certificates and the Private Certificates are initially Physical
      Certificates. If at any time the Holders of all of the Certificates of one
      or
      more such Classes request that the Certificate Registrar cause such Class to
      become Global Certificates, the Certificate Registrar and the Depositor will
      take such action as may be reasonably required to cause the Depository to accept
      such Class or Classes for trading if it may legally be so traded.

     

    All
      transfers by Certificate Owners of such respective Classes of Book-Entry
      Certificates and any Global Certificates shall be made in accordance with the
      procedures established by the Depository Participant or brokerage firm
      representing such Certificate Owners. Each Depository Participant shall only
      transfer Book-Entry Certificates of Certificate Owners it represents or of
      brokerage firms for which it acts as agent in accordance with the Depository’s
      normal procedures.

     

    (b)  If
      (i)(A)
      the Depositor advises the Certificate Registrar in writing that the Depository
      is no longer willing or able to properly discharge its responsibilities as
      Depository and (B) the Certificate Registrar or the Depositor is unable to
      locate a qualified successor within 30 days or (ii) the Depositor at its option
      advises the Certificate Registrar in writing that it elects to terminate the
      book-entry system through the Depository, the Certificate Registrar, as agent
      of
      the Depositor, shall request that the Depository notify all Certificate Owners
      of the occurrence of any such event and of the availability of definitive,
      fully
      registered Certificates to Certificate Owners requesting the same. Upon
      surrender to the Certificate Registrar, as agent of the Depositor, of the
      Certificates by the Depository, accompanied by registration instructions from
      the Depository for registration, the Certificate Registrar shall issue the
      definitive Certificates. Neither the Depositor nor the Certificate Registrar
      shall be liable for any delay in delivery of any instructions required under
      this section and may conclusively rely on, and shall be protected in relying
      on,
      such instructions.

     

    In
      addition, if an Event of Default has occurred and is continuing, each
      Certificate Owner materially adversely affected thereby may at its option
      request a definitive Certificate evidencing such Certificate Owner’s Fractional
      Undivided Interest in the related Class of Certificates. In order to make such
      request, such Certificate Owner shall, subject to the rules and procedures
      of
      the Depository, provide the Depository or the related Depository Participant
      with directions for the Certificate Registrar to exchange or cause the exchange
      of the Certificate Owner’s interest in such Class of Certificates for an
      equivalent Fractional Undivided Interest in fully registered definitive form.
      Upon receipt by the Certificate Registrar of instructions from the Depository
      directing the Certificate Registrar to effect such exchange (such instructions
      to contain information regarding the Class of Certificates and the Current
      Principal Amount being exchanged, the Depository Participant account to be
      debited with the decrease, the registered holder of and delivery instructions
      for the definitive Certificate, and any other information reasonably required
      by
      the Certificate Registrar), (i) the Certificate Registrar shall instruct the
      Depository to reduce the related Depository Participant’s account by the
      aggregate Current Principal Amount of the definitive Certificate, (ii) the
      Certificate Registrar shall execute, authenticate and deliver, in accordance
      with the registration and delivery instructions provided by the Depository,
      a
      definitive Certificate evidencing such Certificate Owner’s Fractional Undivided
      Interest in such Class of Certificates and (iii) the Certificate Registrar
      shall
      execute and authenticate a new Book-Entry Certificate reflecting the reduction
      in the Current Principal Amount of such Class of Certificates by the amount
      of
      the definitive Certificates.

     

    (c) (i) REMIC
      I
      will be evidenced by (x) the REMIC I Regular Interests, which will be
      uncertificated and non-transferable and are hereby designated as the “regular
      interests” in REMIC I and have the initial principal amounts and (other than
      REMIC I Regular Interest R-II/R-III) accrue interest at the Pass-Through Rates
      equal to those set forth in this Section 5.01(c)(i) and (y) the Class R-I
      Certificates, which are hereby designated as representing the sole class of
      “residual interests” in REMIC I.

     

    The
      REMIC
      I Regular Interests and the Class R-I Certificate will have the following
      designations, initial principal amounts and Pass-Through Rates:

     

    
      	
              REMIC
                I Interest

            	 	
              Initial
                Principal Amount

            	 	
              Pass-Through
                Rate

            	 	
              Related
                Loan Group

            	 
	 	 	 	 	 	 	 	 
	
              I-Sub

            	 	
              $

            	
              257.47

            	 	 	
              (1)

            	
               

            	 	
              Loan
                Group I

            	 
	
              I-Grp

            	 	
              $

            	
              5,719.47

            	 	 	
              (2)

            	
               

            	 	
              Loan
                Group I

            	 
	
              II-Sub

            	 	
              $

            	
              2,751.77

            	 	 	
              (1)

            	
               

            	 	
              Loan
                Group II

            	 
	
              II-Grp

            	 	
              $

            	
              61,149.97

            	 	 	
              (3)

            	
               

            	 	
              Loan
                Group II

            	 
	
              III-Sub

            	 	
              $

            	
              975.05

            	 	 	
              (1)

            	
               

            	 	
              Loan
                Group III

            	 
	
              III-Grp

            	 	
              $

            	
              21,665.85

            	 	 	
              (4)

            	
               

            	 	
              Loan
                Group III

            	 
	
              IV-Sub

            	 	
              $

            	
              1,357.09

            	 	 	
              (1)

            	
               

            	 	
              Loan
                Group IV

            	 
	
              IV-Grp

            	 	
              $

            	
              30,157.39

            	 	 	
              (5)

            	
               

            	 	
              Loan
                Group IV

            	 
	
              R-II/R-III

            	 	
              $

            	
              100.00

            	 	 	
              0.00%

            	
               

            	 	
              N/A

            	 
	
              ZZZ

            	 	
              $

            	
              1,186,802,901.66

            	 	 	
              (1)

            	
               

            	 	
              Loan
                Group I through Loan Group IV

            	 
	
              Class
                R-I

            	 	
              $

            	
              50.00

            	 	 	
              0.00%

            	
               

            	 	
              N/A

            	 

    

     

      
        

      

    

    (1) The
      weighted average of the Net Rates of the Mortgage Loans, weighted on the basis
      of the respective Scheduled Principal Balances of each such Mortgage Loan as
      of
      the beginning of the Due Period immediately preceding the related Distribution
      Date.

     

    (2) The
      weighted average of the Net Rates of the Group I Mortgage Loans, weighted on
      the
      basis of the respective Scheduled Principal Balances of each such Mortgage
      Loan
      as of the beginning of the Due Period immediately preceding the related
      Distribution Date.

     

    (3) The
      weighted average of the Net Rates of the Group II Mortgage Loans, weighted
      on
      the basis of the respective Scheduled Principal Balances of each such Mortgage
      Loan as of the beginning of the Due Period immediately preceding the related
      Distribution Date.

     

    (4) The
      weighted average of the Net Rates of the Group III Mortgage Loans, weighted
      on
      the basis of the respective Scheduled Principal Balances of each such Mortgage
      Loan as of the beginning of the Due Period immediately preceding the related
      Distribution Date.

     

    (5) The
      weighted average of the Net Rates of the Group IV Mortgage Loans, weighted
      on
      the basis of the respective Scheduled Principal Balances of each such Mortgage
      Loan as of the beginning of the Due Period immediately preceding the related
      Distribution Date.

     

    Interest
      shall be payable to the REMIC I Regular Interests at the applicable Pass-Through
      Rates on the related Uncertificated Principal Balances. On the Distribution
      Date
      in June 2006, REMIC I Regular Interest R-II/R-III will be paid $100 in reduction
      of its Uncertificated Principal Balance from the Class R-II Deposit and the
      Class R-III Deposit held in the Distribution Account. Distributions of principal
      shall be deemed to be made from amounts received on the Mortgage Loans to the
      REMIC I Regular Interests (other than REMIC I Regular Interest R-II/R-III),
      first, so as to keep the Uncertificated Principal Balance of each REMIC I
      Regular Interest ending with the designation “Grp” equal to 0.01% of the
      aggregate Scheduled Principal Balance of the Mortgage Loans in the related
      Loan
      Group; second, to each REMIC I Regular Interest ending with the designation
      “Sub,” so that the Uncertificated Principal Balance of each such REMIC I Regular
      Interest is equal to 0.01% of the excess of (x) the aggregate Scheduled
      Principal Balance of the Mortgage Loans in the related Loan Group over (y)
      the
      aggregate Current Principal Amount of the Senior Certificates in the related
      Certificate Group (except that if any such excess is a larger number than in
      the
      preceding distribution period, the least amount of principal shall be
      distributed to such REMIC I Regular Interests such that the REMIC I Subordinated
      Balance Ratio is maintained); and third, any remaining principal to REMIC I
      Regular Interest ZZZ. Realized Losses on the Mortgage Loans shall be applied
      after all distributions have been made on each Distribution Date, first, so
      as
      to keep the Uncertificated Principal Balance of each REMIC I Regular Interest
      ending with the designation “Grp” equal to 0.01% of the aggregate Scheduled
      Principal Balance of the Mortgage Loans in the related Loan Group; second,
      to
      each REMIC I Regular Interest ending with the designation “Sub,” so that the
      Uncertificated Principal Balance of each such REMIC I Regular Interest is equal
      to 0.01% of the excess of (x) the aggregate Scheduled Principal Balance of
      the
      Mortgage Loans in the related Loan Group over (y) the Current Principal Amount
      of the Senior Certificates in the related Certificate Group (except that if
      any
      such excess is a larger number than in the preceding distribution period, the
      least amount of Realized Losses shall be applied to such REMIC I Regular
      Interests such that the REMIC I Subordinated Balance Ratio is maintained);
      and
      third, any remaining Realized Losses on the Mortgage Loans shall be allocated
      to
      REMIC I Regular Interest ZZZ.

     

    The
      aggregate amount of any Net Interest Shortfalls and interest portion of Realized
      Losses for any Distribution Date shall be allocated to accrued interest payable
      to the REMIC I Regular Interests (other than REMIC I Regular Interest
      R-II/R-III), pro
      rata,
      based
      on, and to the extent of, one month’s interest at the then applicable respective
      Pass-Through Rates on the respective Uncertificated Principal Balances of each
      such REMIC I Regular Interest.

     

    (ii) REMIC
      II
      will be evidenced by (x) the REMIC II Regular Interests, which will be
      uncertificated and non-transferable and are hereby designated as the “regular
      interests” in REMIC II and have the initial principal amounts and (other than
      REMIC II Regular Interest R-III) accrue interest at the Pass-Through Rates
      equal
      to those set forth in this Section 5.01(c)(ii) and (y) the Class R-II
      Certificates, which are hereby designated as representing the sole class of
      “residual interests” in REMIC II.

     

    The
      REMIC
      II Regular Interests and the Class R-II Certificate will have the following
      designations, initial principal amounts and Pass Through Rates:

     

    
      	
              Designation

            	 	
              Initial
                Principal Amount

            	 	
              Pass-Through
                Rate

            	 
	 	 	 	 	 	 
	
              I-A-1

            	 	
              $

            	
              52,046,000.00

            	 	 	
              (1)

            	
               

            
	
              I-A-2

            	 	
              $

            	
              2,574,000.00

            	 	 	
              (1)

            	
               

            
	
              II-A-1

            	 	
              $

            	
              556,464,000.00

            	 	 	
              (2)

            	
               

            
	
              II-A-2

            	 	
              $

            	
              27,518,000.00

            	 	 	
              (2)

            	
               

            
	
              III-A-1

            	 	
              $

            	
              75,000,000.00

            	 	 	
              (3)

            	
               

            
	
              III-A-2

            	 	
              $

            	
              122,158,000.00

            	 	 	
              (3)

            	
               

            
	
              III-A-3

            	 	
              $

            	
              9,750,000.00

            	 	 	
              (3)

            	
               

            
	
              IV-A-1

            	 	
              $

            	
              274,432,000.00

            	 	 	
              (4)

            	
               

            
	
              IV-A-2

            	 	
              $

            	
              13,571,000.00

            	 	 	
              (4)

            	
               

            
	
              Class
                R-II

            	 	
              $

            	
              50.00

            	 	 	
              0.00%

            	
               

            
	
              R-III

            	 	
              $

            	
              50.00

            	 	 	
              0.00%

            	
               

            
	
              B-1

            	 	
              $

            	
              30,266,000.00

            	 	 	
              (5)

            	
               

            
	
              B-2

            	 	
              $

            	
              8,309,000.00

            	 	 	
              (5)

            	
               

            
	
              B-3

            	 	
              $

            	
              5,341,000.00

            	 	 	
              (5)

            	
               

            
	
              B-4

            	 	
              $

            	
              3,561,000.00

            	 	 	
              (5)

            	
               

            
	
              B-5

            	 	
              $

            	
              2,967,000.00

            	 	 	
              (5)

            	
               

            
	
              B-6

            	 	
              $

            	
              2,969,935.75

            	 	 	
              (5)

            	
               

            

    

     

    (1) A
      variable Pass-Through Rate equal to the weighted average of the Pass-Through
      Rate on REMIC I Regular Interest I-Grp, weighted on the basis of the
      Uncertificated Principal Balance of such REMIC I Regular Interest immediately
      preceding the related Distribution Date.

     

    (2) A
      variable Pass-Through Rate equal to the weighted average of the Pass-Through
      Rate on REMIC I Regular Interest II-Grp, weighted on the basis of the
      Uncertificated Principal Balance of such REMIC I Regular Interest immediately
      preceding the related Distribution Date.

     

    (3) A
      variable Pass-Through Rate equal to the weighted average of the Pass-Through
      Rate on REMIC I Regular Interest III-Grp, weighted on the basis of the
      Uncertificated Principal Balance of such REMIC I Regular Interest immediately
      preceding the related Distribution Date.

     

    (4) A
      variable Pass-Through Rate equal to the weighted average of the Pass-Through
      Rate on REMIC I Regular Interest IV-Grp, weighted on the basis of the
      Uncertificated Principal Balance of such REMIC I Regular Interest immediately
      preceding the related Distribution Date.

     

    (5) A
      variable Pass-Through Rate equal to the weighted average of the Pass-Through
      Rates on REMIC I Regular Interests I-Sub, II-Sub, III-Sub and IV-Sub, weighted
      on the basis of the Uncertificated Principal Balances of each such REMIC I
      Regular Interest immediately preceding the related Distribution Date, provided
      that for purposes of calculating such weighted average, the Pass-Through Rate
      of
      each such REMIC I Regular Interest shall be subject to a cap and a floor equal
      to the Pass-Through Rate of the REMIC I Regular Interest from the related Loan
      Group ending with the designation “Grp”. 

     

    Principal
      shall be payable to, and shortfalls, losses and prepayments are allocable to,
      the REMIC II Regular Interests as such amounts are payable and allocable to
      the
      Corresponding Certificates; provided that, solely for purposes of the foregoing,
      any shortfalls or losses allocable to the Class II-X Certificates and the Class
      III-X Certificates shall be deemed to be allocated entirely to the Class II-A-1
      Certificates and the Class III-A-2 Certificates, respectively. Interest shall
      be
      payable to the REMIC II Regular Interests at the Pass-Through Rate for each
      such
      REMIC II Regular Interest on each such REMIC II Regular Interest’s
      Uncertificated Principal Balance.

     

    (iii) The
      Classes of the Certificates shall have the following designations, initial
      principal amounts and Pass-Through Rates:

     

    
      	
              Designation

            	 	
              Initial
                Principal Amount

            	 	
              Pass-Through
                Rate

            	 
	 	 	 	 	 	
            
	
              I-A-1

            	 	
              $

            	
              52,046,000.00

            	 	 	
              (1)

            	
               

            
	
              I-A-2

            	 	
              $

            	
              2,574,000.00

            	 	 	
              (1)

            	
               

            
	
              II-A-1

            	 	
              $

            	
              556,464,000.00

            	 	 	
              (2)

            	
               

            
	
              II-X

            	 	 	
              (3

            	
              )

            	 	
              (4)

            	
               

            
	
              II-A-2

            	 	
              $

            	
              27,518,000.00

            	 	 	
              (5)

            	
               

            
	
              III-A-1

            	 	
              $

            	
              75,000,000.00

            	 	 	
              (6)

            	
               

            
	
              III-A-2

            	 	
              $

            	
              122,158,000.00

            	 	 	
              (7)

            	
               

            
	
              III-X

            	 	 	
              (3

            	
              )

            	 	
              (8)

            	
               

            
	
              III-A-3

            	 	
              $

            	
              9,750,000.00

            	 	 	
              (6)

            	
               

            
	
              IV-A-1

            	 	
              $

            	
              274,432,000.00

            	 	 	
              (9)

            	
               

            
	
              IV-A-2

            	 	
              $

            	
              13,571,000.00

            	 	 	
              (9)

            	
               

            
	
              R-I

            	 	
              $

            	
              50.00

            	 	 	
              (10)

            	
               

            
	
              R-II

            	 	
              $

            	
              50.00

            	 	 	
              (10)

            	
               

            
	
              R-III

            	 	
              $

            	
              50.00

            	 	 	
              (10)

            	
               

            
	
              B-1

            	 	
              $

            	
              30,266,000.00

            	 	 	
              (11)

            	
               

            
	
              B-2

            	 	
              $

            	
              8,309,000.00

            	 	 	
              (11)

            	
               

            
	
              B-3

            	 	
              $

            	
              5,341,000.00

            	 	 	
              (11)

            	
               

            
	
              B-4

            	 	
              $

            	
              3,561,000.00

            	 	 	
              (11)

            	
               

            
	
              B-5

            	 	
              $

            	
              2,967,000.00

            	 	 	
              (11)

            	
               

            
	
              B-6

            	 	
              $

            	
              2,969,935.75

            	 	 	
              (11)

            	
               

            

    

    

    (1) The
      Class
      I-A-1 Certificates and Class I-A-2 Certificates will bear interest at a variable
      Pass-Through Rate equal to the weighted average of the Net Rates of the Group
      I
      Mortgage Loans, weighted on the basis of the respective Scheduled Principal
      Balances of each such Mortgage Loan as of the beginning of the Due Period
      immediately preceding the related Distribution Date; provided that, for federal
      income tax purposes the Class I-A-1 Certificates and Class I-A-2 Certificates
      will bear interest at a rate equivalent to the foregoing, expressed as the
      weighted average of the Pass-Through Rates on REMIC II Regular Interests I-A-1
      and I-A-2, weighted on the basis of the Uncertificated Principal Balances of
      each such REMIC II Regular Interest immediately preceding the related
      Distribution Date. The Pass-Through Rate for the Class I-A-1 Certificates and
      Class I-A-2 Certificates with respect to the first Interest Accrual Period
      is
      6.026% per annum.

     

    (2) On
      or
      prior to the Distribution Date in March 2011, the Class II-A-1 Certificates
      will
      bear interest at a fixed pass-through rate equal to approximately 5.650% per
      annum, subject to an interest rate cap equal to the weighted average of the
      Net
      Rates of the Group II Mortgage Loans. After the Distribution Date in March
      2011,
      the Class II-A-1 Certificates will bear interest at a variable Pass-Through
      Rate
      equal to the weighted average of the Net Rates of the Group II Mortgage Loans,
      weighted on the basis of the respective Scheduled Principal Balances of each
      such Mortgage Loan as of the beginning of the Due Period immediately preceding
      the related Distribution Date; provided that, for federal income tax purposes
      the Class II-A-1 Certificates will bear interest at a rate equivalent to the
      foregoing, calculated using the weighted average of the Pass-Through Rate on
      REMIC II Regular Interest II-A-1, weighted on the basis of the Uncertificated
      Principal Balance of such REMIC II Regular Interest immediately preceding the
      related Distribution Date, in place of the weighted average of the Net Rates
      of
      the Group II Mortgage Loans. The Pass-Through Rate for the Class II-A-1
      Certificates with respect to the first Interest Accrual Period is 5.650% per
      annum.

     

    (3) As
      described in the definition of Notional Amount herein.

     

    (4) On
      or
      prior to the Distribution Date in March 2011, the Class II-X Certificates will
      bear interest at a variable Pass-Through Rate equal to the excess, if any,
      of
      (a) the weighted average of the Net Rates of the Group II Mortgage Loans,
      weighted on the basis of the respective Scheduled Principal Balances of each
      such Mortgage Loan as of the beginning of the Due Period immediately preceding
      the related Distribution Date, over (b) the Pass-Through Rate of the Class
      II-A-1 Certificates. After the Distribution Date in March 2011, the Class II-X
      Certificates will not bear any interest. For federal income tax purposes, the
      Class II-X Certificates will bear interest at a rate equivalent to the
      foregoing, expressed as the excess, if any, of (i) the weighted average of
      the
      Pass-Through Rate on REMIC II Regular Interest II-A-1, weighted on the basis
      of
      the Uncertificated Principal Balance of such REMIC II Regular Interest
      immediately preceding the related Distribution Date, over (ii) the weighted
      average of the Pass-Through Rate on the Class II-A-1 Certificates, weighted
      on
      the basis of the Current Principal Amount of such Certificates immediately
      preceding the related Distribution Date. The Pass-Through Rate for the Class
      II-X Certificates with respect to the first Interest Accrual Period is 0.242%
      per annum.

     

    (5) The
      Class
      II-A-2 Certificates will bear interest at a variable Pass-Through Rate equal
      to
      the weighted average of the Net Rates of the Group II Mortgage Loans, weighted
      on the basis of the respective Scheduled Principal Balances of each such
      Mortgage Loan as of the beginning of the Due Period immediately preceding the
      related Distribution Date; provided that, for federal income tax purposes the
      Class II-A-2 Certificates will bear interest at a rate equivalent to the
      foregoing, expressed as the weighted average of the Pass-Through Rate on REMIC
      II Regular Interest II-A-2, weighted on the basis of the Uncertificated
      Principal Balance of such REMIC II Regular Interest immediately preceding the
      related Distribution Date. The Pass-Through Rate with respect to the first
      Interest Accrual Period is 5.892% per annum.

     

    (6) The
      Class
      III-A-1 Certificates and Class III-A-3 Certificates will bear interest at a
      variable Pass-Through Rate equal to the weighted average of the Net Rates of
      the
      Group III Mortgage Loans, weighted on the basis of the respective Scheduled
      Principal Balances of each such Mortgage Loan as of the beginning of the Due
      Period immediately preceding the related Distribution Date; provided that,
      for
      federal income tax purposes the Class III-A-1 Certificates and Class III-A-2
      Certificates will bear interest at a rate equivalent to the foregoing, expressed
      as the weighted average of the Pass-Through Rate on REMIC Regular Interests
      III-A-1 and III-A-3, weighted on the basis of the Uncertificated Principal
      Balances of each such REMIC II Regular Interest immediately preceding the
      related Distribution Date. The Pass-Through Rate with respect to the first
      Interest Accrual Period is 6.060% per annum.

     

    (7) On
      or
      prior to the Distribution Date in April 2013, the Class III-A-2 Certificates
      will bear interest at a fixed pass-through rate equal to approximately 5.750%
      per annum, subject to an interest rate cap equal to the weighted average of
      the
      Net Rates of the Group III Mortgage Loans. After the Distribution Date in April
      2013, the Class III-A-2 Certificates will bear interest at a variable
      Pass-Through Rate equal to the weighted average of the Net Rates of the Group
      III Mortgage Loans, weighted on the basis of the respective Scheduled Principal
      Balances of each such Mortgage Loan as of the beginning of the Due Period
      immediately preceding the related Distribution Date; provided that, for federal
      income tax purposes the Class III-A-2 Certificates will bear interest at a
      rate
      equivalent to the foregoing, calculated using the weighted average of the
      Pass-Through Rate on REMIC II Regular Interest III-A-2, weighted on the basis
      of
      the Uncertificated Principal Balance of such REMIC II Regular Interest
      immediately preceding the related Distribution Date, in place of the weighted
      average of the Net Rates of the Group III Mortgage Loans. The Pass-Through
      Rate
      for the Class III-A-2 Certificates with respect to the first Interest Accrual
      Period is 5.750% per annum.

     

    (8) On
      or
      prior to the Distribution Date in April 2013, the Class III-X Certificates
      will
      bear interest at a variable Pass-Through Rate equal to the excess, if any,
      of
      (a) the weighted average of the Net Rates of the Group III Mortgage Loans,
      weighted on the basis of the respective Scheduled Principal Balances of each
      such Mortgage Loan as of the beginning of the Due Period immediately preceding
      the related Distribution Date, over (b) the Pass-Through Rate of the Class
      III-A-2 Certificates. After the Distribution Date in April 2013, the Class
      III-X
      Certificates will not bear any interest. For federal income tax purposes, the
      Class III-X Certificates will bear interest at a rate equivalent to the
      foregoing, expressed as the excess, if any, of (i) the weighted average of
      the
      Pass-Through Rate on REMIC II Regular Interest III-A-2, weighted on the basis
      of
      the Uncertificated Principal Balance of such REMIC III Regular Interest
      immediately preceding the related Distribution Date, over (ii) the weighted
      average of the Pass-Through Rate on the Class III-A-2 Certificates, weighted
      on
      the basis of the Current Principal Amount of such Certificates immediately
      preceding the related Distribution Date. The Pass-Through Rate with respect
      to
      the first Interest Accrual Period is 0.310% per annum.

     

    (9) The
      Class
      IV-A-1 Certificates and Class IV-A-2 Certificates will bear interest at a
      variable Pass-Through Rate equal to the weighted average of the Net Rates of
      the
      Group IV Mortgage Loans, weighted on the basis of the respective Scheduled
      Principal Balances of each such Mortgage Loan as of the beginning of the Due
      Period immediately preceding the related Distribution Date; provided that,
      for
      federal income tax purposes the Class IV-A-1 Certificates and Class IV-A-2
      Certificates will bear interest at a rate equivalent to the foregoing, expressed
      as the weighted average of the Pass-Through Rate on REMIC II Regular Interests
      IV-A-1 and IV-A-2, weighted on the basis of the Uncertificated Principal
      Balances of each such REMIC II Regular Interest immediately preceding the
      related Distribution Date. The Pass-Through Rate with respect to the first
      Interest Accrual Period is 6.056% per annum.

     

    (10) The
      Class
      R-I, Class R-II and Class R-III Certificates will not bear
      interest.

     

    (11) The
      Class
      B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates
      will
      each bear interest at a variable Pass-Through Rate equal to the weighted average
      of the weighted average of the Net Rates of the Mortgage Loans in each Loan
      Group, weighted in proportion to the results of subtracting from the aggregate
      Scheduled Principal Balance of the Mortgage Loans of each Loan Group, the
      aggregate Current Principal Amount of the related Class or Classes of Senior
      Certificates; provided that, for federal income tax purposes such Certificates
      will bear interest at a rate equivalent to the foregoing, expressed as the
      weighted average of the Pass-Through Rates on REMIC II Regular Interests B-1,
      B-2, B-3, B-4, B-5 and B-6, weighted on the basis of the Uncertificated
      Principal Balance of each such REMIC II Regular Interest immediately preceding
      the related Distribution Date. The Pass-Through Rate with respect to the first
      Interest Accrual Period is 5.970% per annum.

     

    (d)  For
      purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the
      Distribution Date immediately following the maturity date for the Mortgage
      Loan
      with the latest maturity date in the Trust Fund has been designated as the
      “latest possible maturity date” for the REMIC I Regular Interests, the REMIC II
      Regular Interests and the Certificates (other than the Class R
      Certificates).

     

    (e)  With
      respect to each Distribution Date, each Class of Certificates shall accrue
      interest during the related Interest Accrual Period. With respect to each
      Distribution Date and each such Class of Certificates, interest shall be
      calculated, on the basis of a 360-day year comprised of twelve 30-day months,
      based upon the respective Pass-Through Rate set forth, or determined as
      provided, above and the Current Principal Amount (or Notional Amount in the
      case
      of the Interest Only Certificates) of such Class applicable to such Distribution
      Date.

     

    (f)  The
      Certificates shall be substantially in the forms set forth in Exhibits A-1,
      A-2
      and A-3. On original issuance, the Certificate Registrar shall sign, countersign
      and shall deliver them at the direction of the Depositor. Pending the
      preparation of definitive Certificates of any Class, the Certificate Registrar
      may sign and countersign temporary Certificates that are printed, lithographed
      or typewritten, in authorized denominations for Certificates of such Class,
      substantially of the tenor of the definitive Certificates in lieu of which
      they
      are issued and with such appropriate insertions, omissions, substitutions and
      other variations as the officers or authorized signatories executing such
      Certificates may determine, as evidenced by their execution of such
      Certificates. If temporary Certificates are issued, the Depositor will cause
      definitive Certificates to be prepared without unreasonable delay. After the
      preparation of definitive Certificates, the temporary Certificates shall be
      exchangeable for definitive Certificates upon surrender of the temporary
      Certificates at the office of the Certificate Registrar, without charge to
      the
      Holder. Upon surrender for cancellation of any one or more temporary
      Certificates, the Certificate Registrar shall sign and countersign and deliver
      in exchange therefor a like aggregate principal amount, in authorized
      denominations for such Class, of definitive Certificates of the same Class.
      Until so exchanged, such temporary Certificates shall in all respects be
      entitled to the same benefits as definitive Certificates.

     

    (g)  Each
      Class of Book-Entry Certificates will be registered as a single Certificate
      of
      such Class held by a nominee of the Depository or the DTC Custodian, and
      beneficial interests will be held by investors through the book-entry facilities
      of the Depository in minimum denominations of, in the case of the Offered
      Certificates (other than the Residual Certificates), $100,000 and in each case
      increments of $1.00 in excess thereof, except that one Certificate of each
      such
      Class may be issued in a different amount so that the sum of the denominations
      of all outstanding Certificates of such Class shall equal the Current Principal
      Amount of such Class on the Closing Date. On the Closing Date, the Certificate
      Registrar shall execute and countersign Physical Certificates all in an
      aggregate principal amount that shall equal the Current Principal Amount of
      such
      Class on the Closing Date. The Private Certificates shall be issued in
      certificated fully-registered form in minimum dollar denominations of $100,000
      and integral multiples of $1.00 in excess thereof, except that one Private
      Certificate of each Class may be issued in a different amount so that the sum
      of
      the denominations of all outstanding Private Certificates of such Class shall
      equal the Current Principal Amount of such Class on the Closing Date. The
      Residual Certificates shall each be issued in certificated fully-registered
      form, each, in the denomination of $50. Each Class of Global Certificates,
      if
      any, shall be issued in fully registered form in minimum dollar denominations
      of
      $100,000 and integral multiples of $1.00 in excess thereof, except that one
      Certificate of each Class may be in a different denomination so that the sum
      of
      the denominations of all outstanding Certificates of such Class shall equal
      the
      Current Principal Amount of such Class on the Closing Date. On the Closing
      Date,
      the Certificate Registrar shall execute and countersign (i) in the case of
      each
      Class of Offered Certificates, the Certificate in the entire Current Principal
      Amount of the respective Class and (ii) in the case of each Class of Private
      Certificates, Individual Certificates all in an aggregate principal amount
      that
      shall equal the Current Principal Amount of each such respective Class on the
      Closing Date. The Certificates referred to in clause (i) and if at any time
      there are to be Global Certificates, the Global Certificates shall be delivered
      by the Depositor to the Depository or pursuant to the Depository’s instructions,
      shall be delivered by the Depositor on behalf of the Depository to and deposited
      with the DTC Custodian. The Certificate Registrar shall sign the Certificates
      by
      facsimile or manual signature and countersign them by manual signature on behalf
      of the Trustee by one or more authorized signatories, each of whom shall be
      Responsible Officers of the Certificate Registrar or its agent. A Certificate
      bearing the manual and facsimile signatures of individuals who were the
      authorized signatories of the Certificate Registrar or its agent at the time
      of
      issuance shall bind the Certificate Registrar, notwithstanding that such
      individuals or any of them have ceased to hold such positions prior to the
      delivery of such Certificate.

     

    (h)  No
      Certificate shall be entitled to any benefit under this Agreement, or be valid
      for any purpose, unless there appears on such Certificate the manually executed
      countersignature of the Certificate Registrar or its agent, and such
      countersignature upon any Certificate shall be conclusive evidence, and the
      only
      evidence, that such Certificate has been duly executed and delivered hereunder.
      All Certificates issued on the Closing Date shall be dated the Closing Date.
      All
      Certificates issued thereafter shall be dated the date of their
      countersignature.

     

    (i)  The
      Closing Date is hereby designated as the “startup” day of each REMIC within the
      meaning of Section 860G(a)(9) of the Code.

     

    (j)  For
      federal income tax purposes, each REMIC shall have a tax year that is a calendar
      year and shall report income on an accrual basis.

     

    (k)  The
      Trustee on behalf of the Trust shall cause each REMIC to timely elect to be
      treated as a REMIC under Section 860D of the Code. Any inconsistencies or
      ambiguities in this Agreement or in the administration of any Trust established
      hereby shall be resolved in a manner that preserves the validity of such
      elections.

     

    (l)  The
      following legend shall be placed on the Residual Certificates, whether upon
      original issuance or upon issuance of any other Certificate of any such Class
      in
      exchange therefor or upon transfer thereof:

     

    THIS
      CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF,
      AN
      EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE
      I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION
      4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE PROPOSED
      TRANSFEREE PROVIDES THE CERTIFICATE REGISTRAR WITH AN OPINION OF COUNSEL
      ADDRESSED TO THE DEPOSITOR, TRUSTEE, CERTIFICATE REGISTRAR, MASTER SERVICER
      AND
      SECURITIES ADMINISTRATOR AND ON WHICH THEY MAY RELY THAT IS SATISFACTORY TO
      THE
      CERTIFICATE REGISTRAR THAT THE PURCHASE OF CERTIFICATES ON BEHALF OF SUCH PERSON
      WILL NOT RESULT IN OR CONSTITUTE A NONEXEMPT PROHIBITED TRANSACTION, IS
      PERMISSIBLE UNDER APPLICABLE LAW AND WILL NOT GIVE RISE TO ANY ADDITIONAL
      OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER, THE SECURITIES
      ADMINISTRATOR, CERTIFICATE REGISTRAR OR THE TRUSTEE.

     

    The
      following legend shall be placed upon the Private Certificates, whether upon
      original issuance or upon issuance of any other Certificate of any such Class
      in
      exchange therefor or upon transfer thereof:

     

    THIS
      CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF,
      AN
      EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE
      I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION
      4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE TRANSFEREE
      CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE
      AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND ITS ASSETS: (I)
      WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER AN
      INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED
      TO, PROHIBITED TRANSACTION EXEMPTION (“PTE”) 84-14, PTE 91-38, PTE 90-1, PTE
      95-60 OR PTE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS
      ON
      THE PART OF THE DEPOSITOR, THE SECURITIES ADMINISTRATOR, THE CERTIFICATE
      REGISTRAR, THE MASTER SERVICER OR THE TRUSTEE, WHICH WILL BE DEEMED REPRESENTED
      BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL CERTIFICATE OR UNLESS THE
      OPINION SPECIFIED IN SECTION 5.07 OF THE AGREEMENT IS PROVIDED.

     

    Section
      5.02  Registration
      of Transfer and Exchange of Certificates.

     

    (a)  The
      Certificate Registrar shall maintain at its Corporate Trust Office a Certificate
      Register in which, subject to such reasonable regulations as it may prescribe,
      the Certificate Registrar shall provide for the registration of Certificates
      and
      of transfers and exchanges of Certificates as herein provided.

     

    (b)  Subject
      to Subsection 5.01(a) and, in the case of any Global Certificate or Physical
      Certificate upon the satisfaction of the conditions set forth below, upon
      surrender for registration of transfer of any Certificate at any office or
      agency of the Certificate Registrar maintained for such purpose, the Certificate
      Registrar shall sign, countersign and shall deliver, in the name of the
      designated transferee or transferees, a new Certificate of a like Class and
      aggregate Fractional Undivided Interest, but bearing a different
      number.

     

    (c)  By
      acceptance of an Individual Certificate, whether upon original issuance or
      subsequent transfer, each holder of such a Certificate acknowledges the
      restrictions on the transfer of such Certificate set forth in the Securities
      Legend and agrees that it will transfer such a Certificate only as provided
      herein. In addition to the provisions of Subsection 5.02(h), the following
      restrictions shall apply with respect to the transfer and registration of
      transfer of an Individual Certificate to a transferee that takes delivery in
      the
      form of an Individual Certificate:

     

    (i)  The
      Certificate Registrar shall register the transfer of an Individual Certificate
      if the requested transfer is being made to a transferee who has provided the
      Certificate Registrar with a Rule 144A Certificate or comparable evidence as
      to
      its QIB status.

     

    (ii)  The
      Certificate Registrar shall register the transfer of any Individual Certificate
      if (x) the transferor has advised the Certificate Registrar in writing that
      the
      Certificate is being transferred to an Institutional Accredited Investor; and
      (y) prior to the transfer the transferee furnishes to the Certificate Registrar
      an Investment Letter (and the Certificate Registrar shall be fully protected
      in
      so doing), provided that, if based upon an Opinion of Counsel addressed to
      the
      Certificate Registrar to the effect that the delivery of (x) and (y) above
      are
      not sufficient to confirm that the proposed transfer is being made pursuant
      to
      an exemption from, or in a transaction not subject to, the registration
      requirements of the Securities Act and other applicable laws, the Certificate
      Registrar shall as a condition of the registration of any such transfer require
      the transferor to furnish such other certifications, legal opinions or other
      information prior to registering the transfer of an Individual Certificate
      as
      shall be set forth in such Opinion of Counsel.

     

    (d)  Subject
      to Subsection 5.02(h), so long as a Global Certificate of such Class is
      outstanding and is held by or on behalf of the Depository, transfers of
      beneficial interests in such Global Certificate, or transfers by holders of
      Individual Certificates of such Class to transferees that take delivery in
      the
      form of beneficial interests in the Global Certificate, may be made only in
      accordance with this Subsection 5.02(d) and in accordance with the rules of
      the
      Depository:

     

    (i)  In
      the
      case of a beneficial interest in the Global Certificate being transferred to
      an
      Institutional Accredited Investor, such transferee shall be required to take
      delivery in the form of an Individual Certificate or Certificates and the
      Certificate Registrar shall register such transfer only upon compliance with
      the
      provisions of Subsection 5.02(c)(ii).

     

    (ii)  In
      the
      case of a beneficial interest in a Class of Global Certificates being
      transferred to a transferee that takes delivery in the form of an Individual
      Certificate or Certificates of such Class, except as set forth in clause (i)
      above, the Certificate Registrar shall register such transfer only upon
      compliance with the provisions of Subsection 5.02(c)(i).

     

    (iii)  In
      the
      case of an Individual Certificate of a Class being transferred to a transferee
      that takes delivery in the form of a beneficial interest in a Global Certificate
      of such Class, the Certificate Registrar shall register such transfer if the
      transferee has provided the Certificate Registrar with a Rule 144A Certificate
      or comparable evidence as to its QIB status.

     

    (iv)  No
      restrictions shall apply with respect to the transfer or registration of
      transfer of a beneficial interest in the Global Certificate of a Class to a
      transferee that takes delivery in the form of a beneficial interest in the
      Global Certificate of such Class; provided that each such transferee shall
      be
      deemed to have made such representations and warranties contained in the Rule
      144A Certificate as are sufficient to establish that it is a QIB.

     

    (e)  Subject
      to Subsection 5.02(h), an exchange of a beneficial interest in a Global
      Certificate of a Class for an Individual Certificate or Certificates of such
      Class, an exchange of an Individual Certificate or Certificates of a Class
      for a
      beneficial interest in the Global Certificate of such Class and an exchange
      of
      an Individual Certificate or Certificates of a Class for another Individual
      Certificate or Certificates of such Class (in each case, whether or not such
      exchange is made in anticipation of subsequent transfer, and, in the case of
      the
      Global Certificate of such Class, so long as such Certificate is outstanding
      and
      is held by or on behalf of the Depository) may be made only in accordance with
      this Subsection 5.02(e) and in accordance with the rules of the
      Depository:

     

    (i)  A
      holder
      of a beneficial interest in a Global Certificate of a Class may at any time
      exchange such beneficial interest for an Individual Certificate or Certificates
      of such Class.

     

    (ii)  A
      holder
      of an Individual Certificate or Certificates of a Class may exchange such
      Certificate or Certificates for a beneficial interest in the Global Certificate
      of such Class if such holder furnishes to the Certificate Registrar a Rule
      144A
      Certificate or comparable evidence as to its QIB status.

     

    (iii)  A
      holder
      of an Individual Certificate of a Class may exchange such Certificate for an
      equal aggregate principal amount of Individual Certificates of such Class in
      different authorized denominations without any certification.

     

    (f)  (i)Upon
      acceptance for exchange or transfer of an Individual Certificate of a Class
      for
      a beneficial interest in a Global Certificate of such Class as provided herein,
      the Trustee shall cancel such Individual Certificate and shall (or shall request
      the Depository to) endorse on the schedule affixed to the applicable Global
      Certificate (or on a continuation of such schedule affixed to the Global
      Certificate and made a part thereof) or otherwise make in its books and records
      an appropriate notation evidencing the date of such exchange or transfer and
      an
      increase in the certificate balance of the Global Certificate equal to the
      certificate balance of such Individual Certificate exchanged or transferred
      therefor.

     

    (ii)  Upon
      acceptance for exchange or transfer of a beneficial interest in a Global
      Certificate of a Class for an Individual Certificate of such Class as provided
      herein, the Certificate Registrar shall (or shall request the Depository to)
      endorse on the schedule affixed to such Global Certificate (or on a continuation
      of such schedule affixed to such Global Certificate and made a part thereof)
      or
      otherwise make in its books and records an appropriate notation evidencing
      the
      date of such exchange or transfer and a decrease in the certificate balance
      of
      such Global Certificate equal to the certificate balance of such Individual
      Certificate issued in exchange therefor or upon transfer thereof.

     

    (g)  The
      Securities Legend shall be placed on any Individual Certificate issued in
      exchange for or upon transfer of another Individual Certificate or of a
      beneficial interest in a Global Certificate.

     

    (h)  Subject
      to the restrictions on transfer and exchange set forth in this Section 5.02,
      the
      holder of any Individual Certificate may transfer or exchange the same in whole
      or in part (in an initial certificate balance equal to the minimum authorized
      denomination set forth in Section 5.01(g) above or any integral multiple of
      $1.00 in excess thereof) by surrendering such Certificate at the Certificate
      Registrar Office, or at the office of any transfer agent, together with an
      executed instrument of assignment and transfer satisfactory in form and
      substance to the Certificate Registrar in the case of transfer and a written
      request for exchange in the case of exchange. The holder of a beneficial
      interest in a Global Certificate may, subject to the rules and procedures of
      the
      Depository, cause the Depository (or its nominee) to notify the Certificate
      Registrar in writing of a request for transfer or exchange of such beneficial
      interest for an Individual Certificate or Certificates. Following a proper
      request for transfer or exchange, the Certificate Registrar shall, within five
      Business Days of such request made at the Corporate Trust Office, sign,
      countersign and deliver at the Corporate Trust Office, to the transferee (in
      the
      case of transfer) or holder (in the case of exchange) or send by first class
      mail at the risk of the transferee (in the case of transfer) or holder (in
      the
      case of exchange) to such address as the transferee or holder, as applicable,
      may request, an Individual Certificate or Certificates, as the case may require,
      for a like aggregate Fractional Undivided Interest and in such authorized
      denomination or denominations as may be requested. The presentation for transfer
      or exchange of any Individual Certificate shall not be valid unless made at
      the
      Corporate Trust Office by the registered holder in person, or by a duly
      authorized attorney-in-fact.

     

    (i)  At
      the
      option of the Certificateholders, Certificates may be exchanged for other
      Certificates of authorized denominations of a like Class and aggregate
      Fractional Undivided Interest, upon surrender of the Certificates to be
      exchanged at the Corporate Trust Office; provided, however, that no Certificate
      may be exchanged for new Certificates unless the original Fractional Undivided
      Interest represented by each such new Certificate (i) is at least equal to
      the
      minimum authorized denomination or (ii) is acceptable to the Depositor as
      indicated to the Trustee in writing. Whenever any Certificates are so
      surrendered for exchange, the Certificate Registrar shall sign and countersign
      and the Certificate Registrar shall deliver the Certificates which the
      Certificateholder making the exchange is entitled to receive.

     

    (j)  If
      the
      Certificate Registrar so requires, every Certificate presented or surrendered
      for transfer or exchange shall be duly endorsed by, or be accompanied by a
      written instrument of transfer, with a signature guarantee, in form satisfactory
      to the Certificate Registrar, duly executed by the holder thereof or his or
      her
      attorney duly authorized in writing.

     

    (k)  No
      service charge shall be made for any transfer or exchange of Certificates,
      but
      the Certificate Registrar may require payment of a sum sufficient to cover
      any
      tax or governmental charge that may be imposed in connection with any transfer
      or exchange of Certificates.

     

    (l)  The
      Certificate Registrar shall cancel all Certificates surrendered for transfer
      or
      exchange but shall retain such Certificates in accordance with its standard
      retention policy or for such further time as is required by the record retention
      requirements of the Securities Exchange Act of 1934, as amended, and thereafter
      may destroy such Certificates.

     

    Section
      5.03  Mutilated,
      Destroyed, Lost or Stolen Certificates.

     

    (a)  If
      (i)
      any mutilated Certificate is surrendered to the Certificate Registrar, or the
      Certificate Registrar receives evidence to its satisfaction of the destruction,
      loss or theft of any Certificate, and (ii) there is delivered to the Certificate
      Registrar such security or indemnity as it may require to save it harmless,
      and
      (iii) the Certificate Registrar has not received notice that such Certificate
      has been acquired by a third Person, the Certificate Registrar shall sign,
      countersign and deliver, in exchange for or in lieu of any such mutilated,
      destroyed, lost or stolen Certificate, a new Certificate of like tenor and
      Fractional Undivided Interest but in each case bearing a different number.
      The
      mutilated, destroyed, lost or stolen Certificate shall thereupon be canceled
      of
      record by the Certificate Registrar and shall be of no further effect and
      evidence no rights.

     

    (b)  Upon
      the
      issuance of any new Certificate under this Section 5.03, the Certificate
      Registrar may require the payment of a sum sufficient to cover any tax or other
      governmental charge that may be imposed in relation thereto and any other
      expenses (including the fees and expenses of the Certificate Registrar)
      connected therewith. Any duplicate Certificate issued pursuant to this Section
      5.03 shall constitute complete and indefeasible evidence of ownership in the
      Trust Fund, as if originally issued, whether or not the lost, stolen or
      destroyed Certificate shall be found at any time.

     

    Section
      5.04  Persons
      Deemed Owners.

     

    Prior
      to
      due presentation of a Certificate for registration of transfer, the Depositor,
      the Paying Agent, the Certificate Registrar, the Trustee and any agent of the
      Depositor, the Paying Agent, the Certificate Registrar or the Trustee may treat
      the Person in whose name any Certificate is registered as the owner of such
      Certificate for the purpose of receiving distributions pursuant to Section
      6.01
      and for all other purposes whatsoever. Neither the Depositor, the Paying Agent,
      the Certificate Registrar, the Trustee nor any agent of the Depositor, the
      Paying Agent, the Certificate Registrar, or the Trustee shall be affected by
      notice to the contrary. No Certificate shall be deemed duly presented for a
      transfer effective on any Record Date unless the Certificate to be transferred
      is presented no later than the close of business on the third Business Day
      preceding such Record Date.

     

    Section
      5.05  Transfer
      Restrictions on Residual Certificates.

     

    (a)  Residual
      Certificates, or interests therein, may not be transferred without the prior
      express written consent of the Tax Matters Person and the Depositor. As a
      prerequisite to such consent, (1) the proposed transferee must provide the
      Tax
      Matters Person, the Depositor, the Certificate Registrar and the Trustee with
      an
      affidavit that the proposed transferee is a Permitted Transferee (and an
      affidavit that it is a United States Person), and (2) the proposed transferor
      must provide the Tax Matters Person, the Depositor, the Certificate Registrar
      and the Trustee with a certificate to the effect that it has no knowledge that
      the statements made by the proposed transferee in any such affidavit are false,
      each as provided in Subsection 5.05(b).

     

    (b)  No
      transfer, sale or other disposition of a Residual Certificate (including a
      beneficial interest therein) may be made unless, prior to the transfer, sale
      or
      other disposition of a Residual Certificate, (1) the proposed transferee
      (including the initial purchasers thereof) delivers to the Tax Matters Person,
      the Trustee, the Certificate Registrar and the Depositor an affidavit in the
      form attached hereto as Exhibit E stating, among other things, that as of the
      date of such transfer (i) such transferee is a Permitted Transferee and that
      (ii) such transferee is not acquiring such Residual Certificate for the account
      of any Person who is not a Permitted Transferee, and (2) the proposed transferor
      delivers to the Tax Matters Person, the Trustee, the Certificate Registrar
      and
      the Depositor a certificate to the effect that it has no knowledge that the
      statements made by
      the
      proposed transferee in
      any
      such affidavit are false. The Tax Matters Person shall not consent to a transfer
      of a Residual Certificate if it has actual knowledge that any statement made
      in
      the affidavit issued pursuant to the preceding sentence is not true.
      Notwithstanding any transfer, sale or other disposition of a Residual
      Certificate to any Person who is not a Permitted Transferee, such transfer,
      sale
      or other disposition shall be deemed to be of no legal force or effect
      whatsoever and such Person shall not be deemed to be a Holder of a Residual
      Certificate for any purpose hereunder, including, but not limited to, the
      receipt of distributions thereon. If any purported transfer shall be in
      violation of the provisions of this Subsection 5.05(b), then the prior Holder
      thereof shall, upon discovery that the transfer of such Residual Certificate
      was
      not in fact permitted by this Subsection 5.05(b), be restored to all rights
      as a
      Holder thereof retroactive to the date of the purported transfer. None of the
      Trustee, the Certificate Registrar, the Tax Matters Person or the Depositor
      shall be under any liability to any Person for any registration or transfer
      of a
      Residual Certificate that is not permitted by this Subsection 5.05(b) or for
      making payments due on such Residual Certificate to the purported Holder thereof
      or taking any other action with respect to such purported Holder under the
      provisions of this Agreement so long as the written affidavit referred to above
      was received with respect to such transfer, and the Tax Matters Person, the
      Trustee, the Certificate Registrar and the Depositor, as applicable, had no
      knowledge that it was untrue. The prior Holder shall be entitled to recover
      from
      any purported Holder of a Residual Certificate that was in fact not a permitted
      transferee under this Subsection 5.05(b) at the time it became a Holder all
      payments made on such Residual Certificate. Each Holder of a Residual
      Certificate, by acceptance thereof, shall be deemed for all purposes to have
      consented to the provisions of this Subsection 5.05(b) and to any amendment
      of
      this Agreement deemed necessary (whether as a result of new legislation or
      otherwise) by counsel of the Tax Matters Person or the Depositor to ensure
      that
      the Residual Certificates are not transferred to any Person who is not a
      Permitted Transferee and that any transfer of such Residual Certificates will
      not cause the imposition of a tax upon the Trust or cause any REMIC to fail
      to
      qualify as a REMIC.

     

    (c)  The
      Residual Certificates (including a beneficial interest therein) may not be
      purchased by or transferred to any Person who is not a United States
      Person.

     

    (d)  By
      accepting a Residual Certificate, the purchaser thereof agrees to be a Tax
      Matters Person, and appoints the Securities Administrator to act as its agent
      with respect to all matters concerning the tax obligations of the
      Trust.

     

    Section
      5.06  Restrictions
      on Transferability of Certificates.

     

    (a)  No
      offer,
      sale, transfer or other disposition (including pledge) of any Certificate shall
      be made by any Holder thereof unless registered under the Securities Act, or
      an
      exemption from the registration requirements of the Securities Act and any
      applicable state securities or “Blue Sky” laws is available and the prospective
      transferee (other than the Depositor) of such Certificate signs and delivers
      to
      the Certificate
      Registrar
      an
      Investment Letter, if the transferee is an Institutional Accredited Investor,
      in
      the form set forth as Exhibit F-l hereto, or a Rule 144A Certificate, if the
      transferee is a QIB, in the form set forth as Exhibit F-2 hereto.
      Notwithstanding the provisions of the immediately preceding sentence, no
      restrictions shall apply with respect to the transfer or registration of
      transfer of a beneficial interest in any Certificate that is a Global
      Certificate of a Class to a transferee that takes delivery in the form of a
      beneficial interest in the Global Certificate of such Class provided that each
      such transferee shall be deemed to have made such representations and warranties
      contained in the Rule 144A Certificate as are sufficient to establish that
      it is
      a QIB. In the case of a proposed transfer of any Certificate to a transferee
      other than a QIB, the Certificate Registrar may require an Opinion of Counsel
      addressed to the Certificate Registrar that such transaction is exempt from
      the
      registration requirements of the Securities Act. The cost of such opinion shall
      not be an expense of the Trustee or the Trust Fund.

     

    (b)  The
      Private Certificates shall each bear a Securities Legend.

     

    Section
      5.07  ERISA
      Restrictions.

     

    (a)  Subject
      to the provisions of subsection (b), no Residual Certificates or Private
      Certificates may be acquired directly or indirectly by, or on behalf of, an
      employee benefit plan or other retirement arrangement which is subject to Title
      I of ERISA or Section 4975 of the Code, unless the proposed transferee provides
      either (i) the Trustee or the Securities Administrator, with an Opinion of
      Counsel addressed to the Depositor, the Trustee, the Certificate Registrar,
      the
      Master Servicer and the Securities Administrator (upon which they may rely)
      which is satisfactory to the Trustee or the Securities Administrator, which
      opinion will not be at the expense of the Depositor, the Trustee, the
      Certificate Registrar, the Master Servicer or the Securities Administrator,
      that
      the purchase of such Certificates by or on behalf of such Plan is permissible
      under applicable law, will not constitute or result in a nonexempt prohibited
      transaction under ERISA or Section 4975 of the Code and will not subject the
      Depositor, the Master Servicer, the Certificate Registrar, the Securities
      Administrator or the Trustee to any obligation in addition to those undertaken
      in the Agreement or (ii) in the case of the Private Certificates, a
      representation or certification to the Certificate Registrar (upon which the
      Trustee and the Certificate Registrar are authorized to rely) to the effect
      that
      the proposed transfer and holding of such a Certificate and the servicing,
      management and operation of the Trust: (I) will not result in a prohibited
      transaction under Section 406 of ERISA or Section 4975 of the Code which is
      not
      covered under an individual or class prohibited transaction exemption including
      but not limited to Department of Labor Prohibited Transaction Exemption (“PTE”)
      84-14 (Class Exemption for Plan Asset Transactions Determined by Independent
      Qualified Professional Asset Managers); PTE 91-38 (Class Exemption for Certain
      Transactions Involving Bank Collective Investment Funds); PTE 90-1 (Class
      Exemption for Certain Transactions Involving Insurance Company Pooled Separate
      Accounts), PTE 95-60 (Class Exemption for Certain Transactions Involving
      Insurance Company General Accounts), and PTCE 96-23 (Class Exemption for Plan
      Asset Transactions Determined by In-House Asset Managers and (II) will not
      subject the Depositor, the Securities Administrator, the Master Servicer or
      the
      Trustee to any obligation in addition to those undertaken in the
      Agreement.

     

    (b)  Any
      Person acquiring an interest in a Global Certificate which is a Private
      Certificate, by acquisition of such Certificate, shall be deemed to have
      represented to the Trustee that either: (i) it is not acquiring an interest
      in
      such Certificate directly or indirectly by, or on behalf of, an employee benefit
      plan or other retirement arrangement which is subject to Title I of ERISA or
      Section 4975 of the Code, or (ii) the transfer and holding of an interest in
      such Certificate to that Person and the subsequent servicing, management and
      operation of the Trust and its assets: (I) will not result in any prohibited
      transaction which is not covered under an individual or class prohibited
      transaction exemption, including, but not limited to, PTE 84-14, PTE 91-38,
      PTE
      90-1, PTE 95-60 or PTE 96-23 and (II) will not subject the Depositor, the
      Securities Administrator, the Master Servicer or the Trustee to any obligation
      in addition to those undertaken in the Agreement.

     

    (c)  Each
      beneficial owner of a Class B-1, Class B-2 or Class B-3 Certificate or any
      interest therein shall be deemed to have represented, by virtue of its
      acquisition or holding of that certificate or interest therein, that either
      (i)
      it is not a Plan or investing with “Plan Assets”, (ii) it has acquired and is
      holding such certificate in reliance on Prohibited Transaction Exemption 90-30,
      as amended from time to time (the “Exemption”), and that it understands that
      there are certain conditions to the availability of the Exemption, including
      that the certificate must be rated, at the time of purchase, not lower than
      “BBB-” (or its equivalent) by S&P or Fitch, and the certificate is so rated
      or (iii) (1) it is an insurance company, (2) the source of funds used to acquire
      or hold the certificate or interest therein is an “insurance company general
      account,” as such term is defined in Prohibited Transaction Class Exemption
      (“PTCE”) 95-60, and (3) the conditions in Sections I and III of PTCE 95-60 have
      been satisfied.

     

    (d)  Neither
      the Trustee, the Certificate Registrar, the Master Servicer nor the Securities
      Administrator will be required to monitor, determine or inquire as to compliance
      with the transfer restrictions with respect to the Global Certificates. Any
      attempted or purported transfer of any Certificate in violation of the
      provisions of Subsections (a) or (b) above shall be void ab initio and such
      Certificate shall be considered to have been held continuously by the prior
      permitted Certificateholder. Any transferor of any Certificate in violation
      of
      such provisions, shall indemnify and hold harmless the Trustee, the Certificate
      Registrar, the Securities Administrator and the Master Servicer from and against
      any and all liabilities, claims, costs or expenses incurred by the Trustee,
      the
      Certificate Registrar, the Securities Administrator or the Master Servicer
      as a
      result of such attempted or purported transfer. Neither the Trustee, nor the
      Certificate Registrar shall be liable for transfer of any such Global
      Certificates in or through book-entry facilities of any Depository or between
      or
      among Depository Participants or Certificate Owners made in violation of the
      transfer restrictions set forth herein.

     

    Section
      5.08  Rule
      144A
      Information.

     

    For
      so
      long as any Certificates are outstanding and are “restricted securities” within
      the meaning of Rule 144(a)(3) of the Securities Act, (1) the Depositor will
      provide or cause to be provided to any holder of such Certificates and any
      prospective purchaser thereof designated by such a holder, upon the request
      of
      such holder or prospective purchaser, the information required to be provided
      to
      such holder or prospective purchaser by Rule 144A(d)(4) under the Securities
      Act; and (2) the Depositor shall update such information from time to time
      in
      order to prevent such information from becoming false and misleading and will
      take such other actions as are necessary to ensure that the safe harbor
      exemption from the registration requirements of the Securities Act under Rule
      144A is and will be available for resales of such Certificates conducted in
      accordance with Rule 144A.

     

    Section
      5.09  Appointment
      of Paying Agent and Certificate Registrar.

     

    Wells
      Fargo Bank, National Association, as Securities Administrator, shall act as
      the
      initial Paying Agent and Certificate Registrar for so long as it is also the
      Master Servicer. Each of the Paying Agent and the Certificate Registrar may
      resign upon thirty (30) days’ prior written notice to the Trustee; provided
      hereto that no such resignation shall be effective until the appointment of
      a
      successor paying agent or certificate registrar. In the event the Paying Agent
      and/or the Certificate Registrar resigns or is removed by the Trustee for cause,
      the Trustee may appoint a successor paying agent or certificate registrar,
      as
      applicable. The Trustee shall cause such successor paying agent, if other than
      the Trustee or the Master Servicer or the Securities Administrator, to execute
      and deliver to the Trustee an instrument in which such paying agent shall agree
      with the Trustee that such paying agent will hold all sums held by it for the
      payment to Certificateholders in trust for the benefit of the Certificateholders
      entitled thereto until such sums have been paid to the
      Certificateholders.

     

    ARTICLE
      VI

    PAYMENTS
      TO CERTIFICATEHOLDERS

     

    Section
      6.01  Distributions
      on the Certificates.

     

    (a)  Interest
      and principal (as applicable) on the Certificates (other than the Residual
      Certificates) will be distributed monthly on each Distribution Date, commencing
      in June 2006, in an amount equal to the Available Funds on deposit in the
      Distribution Account for such Distribution Date.  In addition, on the
      Distribution Date occurring in June 2006, the Class R-1 Deposit will be
      distributed to the Holders of the Class R-I Certificates, the Class R-2 Deposit
      will be distributed to the Holders of the Class R-II Certificates and the Class
      R-3 Deposit will be distributed to the Holders of the Class R-III Certificates.
      On each Distribution Date, the Available Funds on deposit in the Distribution
      Account shall be distributed as follows:

     

    (i)  on
      each
      Distribution Date, the Group I Available Funds will be distributed to the Group
      I Senior Certificates as follows:

     

    first,
      to the
      Class I-A-1 Certificates and Class I-A-2 Certificates, on a pro rata basis,
      the
      Accrued Certificate Interest on such Classes for such Distribution Date. As
      described below, accrued interest on the Class I-A-1 Certificates and Class
      I-A-2 Certificates is subject to reduction in the event of certain Net Interest
      Shortfalls allocable thereto;

     

    second,
      to the
      Class I-A-1 Certificates and Class I-A-2 Certificates, on a pro rata basis,
      any
      Accrued Certificate Interest thereon remaining undistributed from previous
      Distribution Dates, to the extent of remaining Group I Available Funds;
      and

     

    third,
      to the
      Class I-A-1 Certificates and Class 1-A-2 Certificates, on a pro rata basis,
      in
      reduction of the Current Principal Amount thereof, the Group I Senior Optimal
      Principal Amount for such Distribution Date to the extent of remaining Group
      I
      Available Funds, until the Current Principal Amounts of such Classes have been
      reduced to zero.

     

    (ii)  on
      each
      Distribution Date, the Group II Available Funds will be distributed to the
      Group
      II Senior Certificates as follows:

     

    first,
      to the
      Class II-A-1, Class II-A-2 and Class II-X Certificates, on a pro rata basis,
      the
      Accrued Certificate Interest on such Class for such Distribution Date. As
      described below, accrued interest on the Class II-A-1, Class II-A-2 and Class
      II-X Certificates is subject to reduction in the event of certain Net Interest
      Shortfalls allocable thereto;

     

    second,
      to the
      Class II-A-1, Class II-A-2 and Class II-X Certificates, on a pro rata basis,
      any
      Accrued Certificate Interest thereon remaining undistributed from previous
      Distribution Dates, to the extent of remaining Group II Available Funds;
      and

     

    third,
      to the
      Class II-A-1 Certificates and Class II-A-2 Certificates, on a pro rata basis,
      in
      reduction of the Current Principal Amounts thereof, the Group II Senior Optimal
      Principal Amount for such Distribution Date to the extent of remaining Group
      II
      Available Funds, until the Current Principal Amounts of such Classes have been
      reduced to zero.

     

    (iii)  on
      each
      Distribution Date, the Group III Available Funds will be distributed to the
      Group III Senior Certificates as follows:

     

    first,
      to the
      Class III-A-1, Class III-A-2, Class III-A-3 and Class III-X Certificates, on
      a
      pro rata basis, the Accrued Certificate Interest on such Class for such
      Distribution Date. As described below, accrued interest on the Class III-A-1,
      Class III-A-2, Class III-A-3 and Class III-X Certificates is subject to
      reduction in the event of certain Net Interest Shortfalls allocable
      thereto;

     

    second,
      to the
      Class III-A-1, Class III-A-2, Class III-A-3 and Class III-X Certificates, on
      a
      pro rata basis, any Accrued Certificate Interest thereon remaining undistributed
      from previous Distribution Dates, to the extent of remaining Group III Available
      Funds; and

     

    third,
      to the
      Class III-A-1, Class III-A-2 and Class III-A-3 Certificates, on a pro rata
      basis, in reduction of the Current Principal Amount thereof, the Group III
      Senior Optimal Principal Amount for such Distribution Date to the extent of
      remaining Group III Available Funds, until the Current Principal Amounts of
      such
      Classes have been reduced to zero.

     

    (iv)  on
      each
      Distribution Date, the Group IV Available Funds will be distributed to the
      Group
      IV Senior Certificates as follows:

     

    first,
      to the
      Class IV-A-1 Certificates and Class IV-A-2 Certificates, on a pro rata basis,
      the Accrued Certificate Interest on such Class for such Distribution Date.
      As
      described below, accrued interest on the Class IV-A-1 Certificates is subject
      to
      reduction in the event of certain Net Interest Shortfalls allocable
      thereto;

     

    second,
      to the
      Class IV-A-1 Certificates and Class IV-A-2 Certificates, on a pro rata basis,
      any Accrued Certificate Interest thereon remaining undistributed from previous
      Distribution Dates, to the extent of remaining Group IV Available Funds;
      and

     

    third,
      to the
      Class IV-A-1 Certificates and Class IV-A-2 Certificates, on a pro rata basis,
      in
      reduction of the Current Principal Amount thereof, the Group IV Senior Optimal
      Principal Amount for such Distribution Date to the extent of remaining Group
      IV
      Available Funds, until the Current Principal Amounts of such Classes have been
      reduced to zero.

     

    (v)  Except
      as
      provided in clauses (vi) and (vii) below, on each Distribution Date on or prior
      to the Cross-Over Date, an amount equal to the sum of any remaining Group I,
      Group II, Group III and Group IV Available Funds after the distributions in
      clauses (i), (ii), (iii) and (iv) above will be distributed sequentially, in
      the
      following order, to the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5
      and Class B-6 Certificates, in each case up to an amount equal to and in the
      following order: (A) the Accrued Certificate Interest thereon for such
      Distribution Date, (B) any Accrued Certificate Interest thereon remaining
      undistributed from previous Distribution Dates and (C) such Class’s Allocable
      Share for such Distribution Date, in each case, to the extent of remaining
      Group
      I, Group II, Group III and Group IV Available Funds.

     

    (vi)  On
      each
      Distribution Date prior to the Cross-Over Date but after the reduction of the
      Current Principal Amount of all of the Senior Certificates of a Certificate
      Group to zero, the remaining Class or Classes of Senior Certificates in the
      remaining Certificate Groups will be entitled to receive in reduction of their
      Current Principal Amounts, pro rata based upon their Current Principal Amounts
      immediately prior to such Distribution Date, in addition to any Principal
      Prepayments related to such remaining Senior Certificates’ respective Loan Group
      allocated to such Senior Certificates, 100% of the Principal Prepayments on
      any
      Mortgage Loan in the Loan Group relating to the Class or Classes of Senior
      Certificates of the fully repaid Certificate Group; provided, however, that
      if
      (A) the weighted average of the Subordinate Percentages on such Distribution
      Date equals or exceeds two times the initial weighted average of the Subordinate
      Percentages and (B) the aggregate Scheduled Principal Balance of the Mortgage
      Loans delinquent 60 days or more (including for this purpose any such Mortgage
      Loans in foreclosure and bankruptcy and Mortgage Loans with respect to which
      the
      related Mortgaged Property has been acquired by the Trust), averaged over the
      last six months, as a percentage of the aggregate Current Principal Amount
      of
      the Subordinate Certificates does not exceed 50%, then the additional allocation
      of Principal Prepayments to the Senior Certificates in accordance with this
      clause (vi) will not be made and 100% of the Principal Prepayments on any
      Mortgage Loan in the Loan Group relating to the fully repaid Class or Classes
      of
      Senior Certificates will be allocated to the Subordinate
      Certificates.

     

    (vii)  If
      on any
      Distribution Date on which the aggregate Current Principal Amount of the Group
      I, Group II, Group III or Group IV Senior Certificates would be greater than
      the
      aggregate Scheduled Principal Balance of the Mortgage Loans in the related
      Loan
      Group and any Subordinate Certificates are still outstanding, in each case
      after
      giving effect to distributions to be made on such Distribution Date, (A) 100%
      of
      amounts otherwise allocable to the Subordinate Certificates in respect of
      principal will be distributed to the Group I, Group II, Group III or Group
      IV
      Senior Certificates in reduction of the Current Principal Amounts thereof,
      until
      the aggregate Current Principal Amount of such Class or Classes of Senior
      Certificates is an amount equal to the aggregate Scheduled Principal Balance
      of
      the Mortgage Loans in the related Loan Group, and (B) the Accrued Certificate
      Interest otherwise allocable to the Subordinate Certificates on such
      Distribution Date will be reduced, if necessary, and distributed to such Class
      or Classes of Senior Certificates in an amount equal to the Accrued Certificate
      Interest for such Distribution Date on the excess of (x) the aggregate Current
      Principal Amount of such Class or Classes of Senior Certificates over (y) the
      aggregate Scheduled Principal Balance of the Mortgage Loans in the related
      Loan
      Group. Any such reduction in the Accrued Certificate Interest on the Subordinate
      Certificates will be allocated in reverse order of the Subordinate Certificates
      numerical designations, commencing with the Class B-6 Certificates.

     

    (b)  If,
      after
      distributions have been made pursuant to priorities first
      and
second
      of
      clauses (a)(i), (ii), (iii) and (iv) above on any Distribution Date, the
      remaining Group I, Group II, Group III or Group IV Available Funds are less
      than
      the Group I, Group II, Group III and Group IV Senior Optimal Principal Amounts,
      respectively, the Senior Optimal Principal Amount for such Loan Group shall
      be
      reduced, and such remaining Available Funds will be distributed on the related
      Senior Certificates, on a pro rata basis, on the basis of such reduced
      amount.

     

    (c)  On
      each
      Distribution Date, any Available Funds remaining after payment of interest
      and
      principal to the Classes of Certificates entitled thereto, as described above,
      will be distributed to the Class R-III Certificates; provided that if on any
      Distribution Date there are any Group I, Group II, Group III and Group IV
      Available Funds remaining after payment of interest and principal to a Class
      or
      Classes of Certificates entitled thereto, such amounts will be distributed
      to
      the other Classes of Senior Certificates, pro rata, based upon their Current
      Principal Amounts, until all amounts due to all Classes of Senior Certificates
      have been paid in full, before any amounts are distributed to the Class R-III
      Certificates. 

     

    (d)  For
      any
      Distribution Date, “pro rata” distributions among Classes of Certificates in
      respect of Accrued Certificate Interest or unpaid Accrued Certificate Interest
      will be made in proportion to the amount of Accrued Certificate Interest or
      unpaid Accrued Certificate Interest, respectively, due on such Classes for
      such
      Distribution Date. For any Distribution Date, “pro rata” distributions among
      Classes of Certificates in respect of principal will be made in proportion
      to
      the Current Principal Amount of such Classes immediately prior to such
      Distribution Date. 

     

    (e)  No
      Accrued Certificate Interest will be payable with respect to any Class of
      Certificates after the Distribution Date on which the Current Principal Amount
      of such Certificate has been reduced to zero.

     

    (f)  If
      on any
      Distribution Date the Available Funds for the Senior Certificates in any
      Certificate Group is less than the Accrued Certificate Interest on the related
      Senior Certificates for such Distribution Date prior to reduction for Net
      Interest Shortfalls and the interest portion of Realized Losses, the shortfall
      will be allocated among the holders of each Class of Senior Certificates in
      such
      Certificate Group in proportion to the respective amounts of Accrued Certificate
      Interest that would have been allocated thereto in the absence of such Net
      Interest Shortfalls and/or Realized Losses for such Distribution Date. In
      addition, the amount of any interest shortfalls will constitute unpaid Accrued
      Certificate Interest and will be distributable to holders of the Certificates
      of
      the related Classes entitled to such amounts on subsequent Distribution Dates,
      to the extent of the applicable Available Funds after current interest
      distributions as required herein. Any such amounts so carried forward will
      not
      bear interest. Shortfalls in interest payments will not be offset by a reduction
      in the servicing compensation of the Master Servicer or otherwise, except to
      the
      extent of applicable Compensating Interest Payments.

     

    (g)  The
      expenses and fees of the Trust shall be paid by each of the REMICs, to the
      extent that such expenses relate to the assets of each of such respective
      REMICs, and all other expenses and fees of the Trust shall be paid pro rata
      by
      each of the REMICs.

     

    Section
      6.02  Allocation
      of Losses.

     

    (a)  On
      or
      prior to each Determination Date, the Master Servicer shall determine the amount
      of any Realized Loss in respect of each Mortgage Loan that occurred during
      the
      immediately preceding calendar month, based on information provided by the
      related Servicer.

     

    (b)  With
      respect to any Certificates on any Distribution Date, the principal portion
      of
      each Realized Loss on a Mortgage Loan shall be allocated as
      follows:

     

    first,
      to the
      Class B-6 Certificates until the Current Principal Amount thereof has been
      reduced to zero;

     

    second,
      to the
      Class B-5 Certificates until the Current Principal Amount thereof has been
      reduced to zero;

     

    third,
      to the
      Class B-4 Certificates until the Current Principal Amount thereof has been
      reduced to zero;

     

    fourth,
      to the
      Class B-3 Certificates until the Current Principal Amount thereof has been
      reduced to zero;

     

    fifth,
      to the
      Class B-2 Certificates until the Current Principal Amount thereof has been
      reduced to zero;

     

    sixth,
      to
      the
      Class B-1 Certificates until the Current Principal Amount thereof has been
      reduced to zero;

     

    seventh,
      if such
      loss is on (v) a Group I Mortgage Loan, to the Class I-A-1 Certificates and
      Class I-A-2 Certificates until the Current Principal Amount thereof has been
      reduced to zero; provided, however, any such Realized Losses otherwise allocable
      to the Class I-A-1 Certificates will be allocated to the Class I-A-2
      Certificates, until the Current Principal Amount of the Class I-A-2 Certificates
      has been reduced to zero, and then to the Class I-A-1 Certificates; (w) a Group
      II Mortgage Loan, to
      the
      Class II-A-1 Certificates and Class II-A-2 Certificates, until
      the
      Current Principal Amount thereof has been reduced to zero; provided, however,
      any such Realized Losses otherwise allocable to the Class II-A-1 Certificates
      will be allocated to the Class II-A-2 Certificates, until the Current Principal
      Amount of the Class II-A-2 Certificates has been reduced to zero, and then
      to
      the Class II-A-1 Certificates; (x) a Group III Mortgage Loan, to the Class
      III-A-1 Certificates and Class III-A-2 Certificates until the Current Principal
      Amount thereof has been reduced to zero; provided, however, any such Realized
      Losses otherwise allocable to the Class III-A-1 Certificates will be allocated
      to the Class III-A-2 Certificates, until the Current Principal Amount of the
      Class III-A-2 Certificates has been reduced to zero, and then to the Class
      III-A-1 Certificates; or (y) a Group IV Mortgage Loan, to the Class IV-A-1
      Certificates and Class IV-A-2 Certificates until the Current Principal Amount
      thereof has been reduced to zero; provided, however, any such Realized Losses
      otherwise allocable to the Class IV-A-1 Certificates will be allocated to the
      Class IV-A-2 Certificates, until the Current Principal Amount of the Class
      IV-A-2 Certificates has been reduced to zero, and then to the Class IV-A-1
      Certificates; and

     

    eighth,
      to the
      Senior Certificates on a pro rata basis; provided, however, any such Realized
      Losses otherwise allocable to the Class I-A-1 Certificates will be allocated
      to
      the Class I-A-2 Certificates, until the Current Principal Amount of the Class
      I-A-2 Certificates has been reduced to zero, and then to the Class I-A-1
      Certificates, any such Realized Losses otherwise allocable to the Class II-A-1
      Certificates will be allocated to the Class II-A-2 Certificates, until the
      Current Principal Amount of the Class II-A-2 Certificates has been reduced
      to
      zero, and then to the Class II-A-1 Certificates, any such Realized Losses
      otherwise allocable to the Class III-A-1 Certificates will be allocated to
      the
      Class III-A-2 Certificates, until the Current Principal Amount of the Class
      III-A-2 Certificates has been reduced to zero, and then to the Class III-A-1
      Certificates, any such Realized Losses otherwise allocable and to the Class
      IV-A-1 Certificates will be allocated to the Class IV-A-2 Certificates, until
      the Current Principal Amount of the Class IV-A-2 Certificates has been reduced
      to zero, and then to the Class IV-A-1 Certificates.

     

    (c)  Notwithstanding
      the foregoing clause (b), no such allocation of any Realized Loss shall be
      made
      on a Distribution Date to any Class of Certificates to the extent that such
      allocation would result in the reduction of the aggregate Current Principal
      Amount of all the Certificates (other than the Class R Certificates) as of
      such
      Distribution Date, after giving effect to all distributions and prior
      allocations of Realized Losses on the Mortgage Loans on such date, to an amount
      less than the aggregate Scheduled Principal Balance of all of the Mortgage
      Loans
      as of the first day of the month of such Distribution Date (such limitation,
      the
“Loss Allocation Limitation”).

     

    (d)  Any
      Realized Losses allocated to a Class of Certificates shall be allocated among
      the Certificates of such Class in proportion to their respective Current
      Principal Amounts. Any allocation of Realized Losses shall be accomplished
      by
      reducing the Current Principal Amount of the related Certificates on the related
      Distribution Date.

     

    (e)  Realized
      Losses shall be allocated on the Distribution Date in the month following the
      month in which such loss was incurred and, in the case of the principal portion
      thereof, after giving effect to distributions made on such Distribution
      Date.

     

    (f)  On
      each
      Distribution Date, the Securities Administrator shall determine and notify
      the
      Paying Agent of the Subordinate Certificate Writedown Amount. Any Subordinate
      Certificate Writedown Amount shall effect a corresponding reduction in the
      Current Principal Amount of (i) if prior to the Cross-Over Date, the Current
      Principal Amounts of the Subordinate Certificates, in the reverse order of
      their
      numerical Class designations and (ii) from and after the Cross-Over Date, the
      Senior Certificates, in accordance with priorities set forth in clause (b)
      above, which reduction shall occur on such Distribution Date after giving effect
      to distributions made on such Distribution Date.

     

    (g)  Any
      Net
      Interest Shortfall will be allocated among the Classes of Certificates (other
      than the Residual Certificates) in proportion to the respective amounts of
      Accrued Certificate Interest that would have been allocated thereto in the
      absence of such Net Interest Shortfall for such Distribution Date. The interest
      portion of any Realized Losses with respect to the Mortgage Loans occurring
      on
      or prior to the Cross-Over Date will not be allocated among any Certificates,
      but will reduce the amount of Available Funds on the related Distribution Date.
      As a result of the subordination of the Subordinate Certificates in right of
      distribution, such Realized Losses on the Mortgage Loans will be borne by the
      Subordinate Certificates, in inverse order of their numerical Class
      designations. Following the Cross-Over Date, the interest portion of Realized
      Losses on the Mortgage Loans will be allocated to the Senior Certificates in
      the
      manner described in the first sentence of this clause (g).

     

    (h)  In
      addition, in the event that the Master Servicer receives any Subsequent
      Recoveries from a Servicer, the Master Servicer shall deposit such funds into
      the Distribution Account pursuant to Section 4.04. If, after taking into account
      such Subsequent Recoveries, the amount of a Realized Loss is reduced, the amount
      of such Subsequent Recoveries will be applied to increase the Current Principal
      Amount of the Class of Subordinate Certificates with the highest payment
      priority to which Realized Losses have been allocated, but not by more than
      the
      amount of Realized Losses previously allocated to that Class of Subordinate
      Certificates pursuant to this Section 6.02. The amount of any remaining
      Subsequent Recoveries will be applied to sequentially increase the Current
      Principal Amount of the Subordinate Certificates, beginning with the Class
      of
      Subordinate Certificates with the next highest payment priority, up to the
      amount of such Realized Losses previously allocated to such Class of
      Certificates pursuant to this Section 6.02. Holders of such Certificates will
      not be entitled to any payment in respect of current interest on the amount
      of
      such increases for any Interest Accrual Period preceding the Distribution Date
      on which such increase occurs. Any such increases shall be applied to the
      Current Principal Amount of each Subordinate Certificate of such Class in
      accordance with its respective Fractional Undivided Interest.

     

    Section
      6.03  Payments.

     

    (a)  On
      each
      Distribution Date, other than the final Distribution Date, the Paying Agent
      shall distribute to each Certificateholder of record as of the immediately
      preceding Record Date the Certificateholder’s pro rata share of its Class (based
      on the aggregate Fractional Undivided Interest represented by such Holder’s
      Certificates) of all amounts required to be distributed on such Distribution
      Date to such Class, based on information provided to the Paying Agent by the
      Securities Administrator. The Securities Administrator shall calculate the
      amount to be distributed to each Class and, based on such amounts, the
      Securities Administrator shall determine the amount to be distributed to each
      Certificateholder. All of the Securities Administrator’s calculations of
      payments shall be based solely on information provided to the Securities
      Administrator by the Master Servicer. Neither the Securities Administrator
      nor
      the Paying Agent shall be required to confirm, verify or recompute any such
      information but shall be entitled to rely conclusively on such
      information.

     

    (b)  Payment
      of the above amounts to each Certificateholder shall be made (i) by check mailed
      to each Certificateholder entitled thereto at the address appearing in the
      Certificate Register or (ii) upon receipt by the Paying Agent on or before
      the
      fifth Business Day preceding the Record Date of written instructions from a
      Certificateholder by wire transfer to a United States dollar account maintained
      by the payee at any United States depository institution with appropriate
      facilities for receiving such a wire transfer; provided, however, that the
      final
      payment in respect of each Class of Certificates will be made only upon
      presentation and surrender of such respective Certificates at the office or
      agency of the Paying Agent specified in the notice to Certificateholders of
      such
      final payment.

     

    Section
      6.04  Statements
      to Certificateholders.

     

    (a)  Concurrently
      with each distribution to Certificateholders, the Securities Administrator
      shall
      make available to the parties hereto and each Certificateholder via the
      Securities Administrator’s internet website as set forth below, the following
      information, expressed with respect to clauses (i) through (vii) in the
      aggregate and as a Fractional Undivided Interest representing an initial Current
      Principal Amount of $1,000, or in the case of the Residual Certificates, an
      initial Current Principal Amount of $50:

     

    (i)  the
      Current Principal Amount of each Class of Certificates immediately prior to
      such
      Distribution Date;

     

    (ii)  the
      amount of the distribution allocable to principal on each applicable Class
      of
      Certificates;

     

    (iii)  the
      aggregate amount of interest accrued at the related Pass-Through Rate with
      respect to each Class during the related Interest Accrual Period;

     

    (iv)  the
      Net
      Interest Shortfall and any other adjustments to interest at the related
      Pass-Through Rate necessary to account for any difference between interest
      accrued and aggregate interest distributed with respect to each Class of
      Certificates;

     

    (v)  the
      amount of the distribution allocable to interest on each Class of
      Certificates;

     

    (vi)  the
      Pass-Through Rates for each Class of Certificates with respect to such
      Distribution Date;

     

    (vii)  the
      Current Principal Amount of each Class of Certificates after such Distribution
      Date;

     

    (viii)  the
      amount of any Monthly Advances, Compensating Interest Payments and outstanding
      unreimbursed advances by the Master Servicer or the Servicer included in such
      distribution separately stated for each Loan Group;

     

    (ix)  the
      aggregate amount of any Realized Losses (listed separately for each category
      of
      Realized Loss and for each Loan Group) during the related Prepayment Period
      and
      cumulatively since the Cut-off Date and the amount and source (separately
      identified) of any distribution in respect thereof included in such
      distribution;

     

    (x)  with
      respect to each Mortgage Loan which incurred a Realized Loss during the related
      Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance
      of
      such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance
      of such Mortgage Loan as of the beginning of the related Due Period, (iii)
      the
      Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount
      of the Realized Loss with respect to such Mortgage Loan;

     

    (xi)  with
      respect to each Loan Group, the amount of Scheduled Principal and Principal
      Prepayments, (including but separately identifying the principal amount of
      Principal Prepayments, Insurance Proceeds, the purchase price in connection
      with
      the purchase of Mortgage Loans, cash deposits in connection with substitutions
      of Mortgage Loans and Net Liquidation Proceeds) and the number and principal
      balance of Mortgage Loans purchased or substituted for during the relevant
      period and cumulatively since the Cut-off Date;

     

    (xii)  the
      number of Mortgage Loans (excluding REO Property) in each Loan Group remaining
      in the Trust Fund as of the end of the related Prepayment Period;

     

    (xiii)  information
      for each Loan Group and in the aggregate regarding any Mortgage Loan
      delinquencies as of the end of the related Prepayment Period, including the
      aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans
      using the MBA method of calculation (a) Delinquent 30 to 59 days on a
      contractual basis, (b) Delinquent 60 to 89 days on a contractual basis, and
      (c)
      Delinquent 90 or more days on a contractual basis, in each case as of the close
      of business on the last Business Day of the immediately preceding
      month;

     

    (xiv)  for
      each
      Loan Group, the number of Mortgage Loans in the foreclosure process as of the
      end of the related Due Period and the aggregate Outstanding Principal Balance
      of
      such Mortgage Loans;

     

    (xv)  for
      each
      Loan Group, the number and aggregate Outstanding Principal Balance of all
      Mortgage Loans as to which the Mortgaged Property was REO Property as of the
      end
      of the related Due Period;

     

    (xvi)  the
      book
      value (the sum of (A) the Outstanding Principal Balance of the Mortgage Loan,
      (B) accrued interest through the date of foreclosure and (C) foreclosure
      expenses) of any REO Property in each Loan Group; provided that, in the event
      that such information is not available to the Securities Administrator on the
      Distribution Date, such information shall be furnished promptly after it becomes
      available;

     

    (xvii)  the
      amount of Realized Losses allocated to each Class of Certificates since the
      prior Distribution Date and in the aggregate for all prior Distribution Dates;
      and

     

    (xviii)  the
      Average Loss Severity Percentage for each Loan Group; and

     

    (xix)  the
      then
      applicable Group I, Group II, Group III and Group IV Senior Percentage, Group
      I,
      Group II, Group III and Group IV Senior Prepayment Percentage, Group I, Group
      II, Group III and Group IV Subordinate Percentage and Group I, Group II, Group
      III and Group IV Subordinate Prepayment Percentage.

     

    The
      information set forth above shall be calculated or reported, as the case may
      be,
      by the Securities Administrator, based solely on, and to the extent of,
      information provided to the Securities Administrator by the Master Servicer.
      The
      Securities Administrator may conclusively rely on such information and shall
      not
      be required to confirm, verify or recalculate any such information.

     

    The
      Securities Administrator may make available each month, to any interested party,
      the monthly statement to Certificateholders via the Securities Administrator’s
      website initially located at “www.ctslink.com.” Assistance in using the website
      can be obtained by calling the Securities Administrator’s customer service desk
      at (301) 815-6600. Parties that are unable to use the above distribution option
      are entitled to have a paper copy mailed to them via first class mail by calling
      the Securities Administrator’s customer service desk and indicating such. The
      Securities Administrator shall have the right to change the way such reports
      are
      distributed in order to make such distribution more convenient and/or more
      accessible to the parties, and the Securities Administrator shall provide timely
      and adequate notification to all parties regarding any such change.

     

    (b)  By
      April
      30 of each year beginning in 2007, the Securities Administrator will furnish
      such report to each Holder of the Certificates of record at any time during
      the
      prior calendar year as to the aggregate of amounts reported pursuant to
      subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus
      information with respect to the amount of servicing compensation and such other
      customary information as the Securities Administrator may determine to be
      necessary and/or to be required by the Internal Revenue Service or by a federal
      or state law or rules or regulations to enable such Holders to prepare their
      tax
      returns for such calendar year. Such obligations shall be deemed to have been
      satisfied to the extent that substantially comparable information shall be
      provided by the Securities Administrator or the Trustee pursuant to the
      requirements of the Code.

     

    Section
      6.05  Monthly
      Advances.

     

    The
      Master Servicer shall cause the related Servicer to remit any Advance required
      pursuant to the terms of the related Servicing Agreement. The related Servicer
      shall be obligated to make any such Advance only to the extent that such advance
      would not be a Nonrecoverable Advance. If the related Servicer shall have
      determined that it has made a Nonrecoverable Advance or that a proposed Advance
      or a lesser portion of such Advance would constitute a Nonrecoverable Advance,
      the related Servicer shall deliver (i) to the Securities Administrator for
      the
      benefit of the Certificateholders funds constituting the remaining portion
      of
      such Advance, if applicable, and (ii) to the Depositor, the Master Servicer,
      each Rating Agency and the Trustee an Officer’s Certificate setting forth the
      basis for such determination. Subject
      to the Master Servicer’s recoverability determination, in the event that a
      Servicer (other than Wells Fargo) fails to make a required Advance, the Master
      Servicer, as successor servicer, shall be required to remit the amount of such
      Advance to the Distribution Account. Subject to the Securities Administrator’s
      recoverability determination, in the event that the Master Servicer fails to
      make a required Advance, the Securities Administrator shall be required to
      remit
      the amount of such Advance to the Distribution Account. If
      Wells
      Fargo, as a Servicer, the Master Servicer or the Securities Administrator was
      required to make an Advance but failed to do so, the Trustee shall appoint
      a
      successor servicer who will make such Advance, or the Trustee as successor
      master servicer shall be
      required to remit the amount of such Advance to the Distribution Account,
unless
      the Trustee shall have determined that such Advance is a Nonrecoverable Advance.
      If the Trustee cannot find a successor servicer to replace Wells Fargo as
      Servicer the Trustee shall become the successor servicer and shall be required
      to remit the amount of such Advance to the Distribution Account, unless the
      Trustee shall have determined that such Advance is a Nonrecoverable
      Advance.

     

    Section
      6.06  Compensating
      Interest Payments.

     

    The
      Master Servicer shall remit to the Securities Administrator for deposit in
      the
      Distribution Account not later than each Business Day preceding the related
      Distribution Date an amount equal to the lesser of (i) the sum of the aggregate
      amounts required to be paid by the Servicers under the Servicing Agreements
      with
      respect to subclauses (a) and (b) of the definition of Interest Shortfall with
      respect to the Mortgage Loans for the related Distribution Date, and not so
      paid
      by the related Servicers and (ii) the Master Servicer Compensation for such
      Distribution Date (such amount, the “Compensating Interest Payment”). The Master
      Servicer shall not be entitled to any reimbursement of any Compensating Interest
      Payment.

     

    ARTICLE
      VII

    THE
      MASTER SERVICER

     

    Section
      7.01  Liabilities
      of the Master Servicer.

     

    The
      Master Servicer shall be liable in accordance herewith only to the extent of
      the
      obligations specifically imposed upon and undertaken by it herein.

     

    Section
      7.02  Merger
      or
      Consolidation of the Master Servicer.

     

    (a)  The
      Master Servicer will keep in full force and effect its existence, rights and
      franchises as a corporation under the laws of the state of its incorporation,
      and will obtain and preserve its qualification to do business as a foreign
      corporation in each jurisdiction in which such qualification is or shall be
      necessary to protect the validity and enforceability of this Agreement, the
      Certificates or any of the Mortgage Loans and to perform its duties under this
      Agreement.

     

    (b)  Any
      Person into which the Master Servicer may be merged or consolidated, or any
      corporation resulting from any merger or consolidation to which the Master
      Servicer shall be a party, or any Person succeeding to the business of the
      Master Servicer, shall be the successor of the Master Servicer hereunder,
      without the execution or filing of any paper or further act on the part of
      any
      of the parties hereto, anything herein to the contrary
      notwithstanding.

     

    Section
      7.03  Indemnification
      of the Trustee, the Master Servicer and the Securities
      Administrator.

     

    (a)  The
      Master Servicer agrees to indemnify the Indemnified Persons for, and to hold
      them harmless against, any loss, liability or expense (including reasonable
      legal fees and disbursements of counsel) incurred on their part that may be
      sustained in connection with, arising out of, or relating to, any claim or
      legal
      action (including any pending or threatened claim or legal action) relating
      to
      this Agreement, the Servicing Agreements, the Assignment Agreements or the
      Certificates or the powers of attorney delivered by the Trustee hereunder (i)
      related to the Master Servicer’s failure to perform its duties in compliance
      with this Agreement (except as any such loss, liability or expense shall be
      otherwise reimbursable pursuant to this Agreement) or (ii) incurred by reason
      of
      the Master Servicer’s willful misfeasance, bad faith or gross negligence in the
      performance of its duties hereunder or by reason of reckless disregard of its
      obligations and duties hereunder, provided, in each case, that with respect
      to
      any such claim or legal action (or pending or threatened claim or legal action),
      the Trustee shall have given the Master Servicer and the Depositor written
      notice thereof promptly after a Responsible Officer the Trustee shall have
      with
      respect to such claim or legal action actual knowledge thereof. The Master
      Servicer’s failure to receive any such notice shall not affect the Trustee’s
      right to indemnification hereunder, except to the extent the Master Servicer
      is
      materially prejudiced  by such failure to give notice. This indemnity
      shall survive the resignation or removal of the Trustee, Master Servicer or
      the
      Securities Administrator and the termination of this Agreement.

     

    (b)  The
      Depositor will indemnify any Indemnified Person for any loss, liability or
      expense of any Indemnified Person not otherwise covered by the Master Servicer’s
      indemnification pursuant to Subsection (a) above.

     

    Section
      7.04  Limitations
      on Liability of the Master Servicer and Others.

     

    Subject
      to the obligation of the Master Servicer to indemnify the Indemnified Persons
      pursuant to Section 7.03:

     

    (a)  Neither
      the Master Servicer nor any of the directors, officers, employees or agents
      of
      the Master Servicer shall be under any liability to the Indemnified Persons,
      the
      Depositor, the Trust Fund or the Certificateholders for taking any action or
      for
      refraining from taking any action in good faith pursuant to this Agreement,
      or
      for errors in judgment; provided, however, that this provision shall not protect
      the Master Servicer or any such Person against any breach of warranties or
      representations made herein or any liability which would otherwise be imposed
      by
      reason of such Person’s willful misfeasance, bad faith or gross negligence in
      the performance of duties or by reason of reckless disregard of obligations
      and
      duties hereunder.

     

    (b)  The
      Master Servicer and any director, officer, employee or agent of the Master
      Servicer may rely in good faith on any document of any kind prima facie properly
      executed and submitted by any Person respecting any matters arising
      hereunder.

     

    (c)  The
      Master Servicer, the Custodian and any director, officer, employee or agent
      of
      the Master Servicer or the Custodian, shall be indemnified by the Trust and
      held
      harmless thereby against any loss, liability or expense (including reasonable
      legal fees and disbursements of counsel) incurred on their part that may be
      sustained in connection with, arising out of, or related to, any claim or legal
      action (including any pending or threatened claim or legal action) relating
      to
      this Agreement, the Certificates or any Servicing Agreement (except to the
      extent that the Master Servicer or the Trustee, as the case may be, is
      indemnified by the Servicer thereunder), other than (i) any such loss, liability
      or expense related to the Master Servicer's failure to perform its duties in
      compliance with this Agreement (except as any such loss, liability or expense
      shall be otherwise reimbursable pursuant to this Agreement), or to the
      Custodian's failure to perform its duties under the Custodial Agreement,
      respectively, or (ii) any such loss, liability or expense incurred by reason
      of
      the Master Servicer's or the Custodian's willful misfeasance, bad faith or
      gross
      negligence in the performance of duties hereunder or under the Custodial
      Agreement, as applicable, or by reason of reckless disregard of obligations
      and
      duties hereunder or under the Custodial Agreement, as applicable.

     

    (d)  The
      Master Servicer shall not be under any obligation to appear in, prosecute or
      defend any legal action that is not incidental to its duties under this
      Agreement and that in its opinion may involve it in any expense or liability;
      provided, however, the Master Servicer may in its discretion, with the consent
      of the Trustee (which consent shall not be unreasonably withheld), undertake
      any
      such action which it may deem necessary or desirable with respect to this
      Agreement and the rights and duties of the parties hereto and the interests
      of
      the Certificateholders hereunder. In such event, the legal expenses and costs
      of
      such action and any liability resulting therefrom shall be expenses, costs
      and
      liabilities of the Trust Fund, and the Master Servicer shall be entitled to
      be
      reimbursed therefor out of the Distribution Account as provided by Section
      4.05.
      Nothing in this Subsection 7.04(d) shall affect the Master Servicer’s obligation
      to supervise, or to take such actions as are necessary to ensure, the servicing
      and administration of the Mortgage Loans pursuant to Subsection
      3.01(a).

     

    (e)  In
      taking
      or recommending any course of action pursuant to this Agreement, unless
      specifically required to do so pursuant to this Agreement, the Master Servicer
      shall not be required to investigate or make recommendations concerning
      potential liabilities which the Trust might incur as a result of such course
      of
      action by reason of the condition of the Mortgaged Properties but shall give
      notice to the Trustee if it has notice of such potential
      liabilities.

     

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

     

    Section
      7.05  Master
      Servicer Not to Resign.

     

    Except
      as
      provided in Section 7.07, the Master Servicer shall not resign from the
      obligations and duties hereby imposed on it except upon a determination that
      any
      such duties hereunder are no longer permissible under applicable law and such
      impermissibility cannot be cured. Any such determination permitting the
      resignation of the Master Servicer shall be evidenced by an Opinion of
      Independent Counsel addressed to the Trustee to such effect delivered to the
      Trustee. No such resignation by the Master Servicer shall become effective
      until
      EMC or the Trustee or a successor to the Master Servicer reasonably satisfactory
      to the Trustee shall have assumed the responsibilities and obligations of the
      Master Servicer in accordance with Section 8.02 hereof. The Trustee shall notify
      the Rating Agencies of the resignation of the Master Servicer.

     

    Section
      7.06  Successor
      Master Servicer.

     

    In
      connection with the appointment of any successor master servicer or the
      assumption of the duties of the Master Servicer, EMC or the Trustee may make
      such arrangements for the compensation of such successor master servicer out
      of
      payments on the Mortgage Loans as EMC or the Trustee and such successor master
      servicer shall agree. If the successor master servicer does not agree that
      such
      market value is a fair price, such successor master servicer shall obtain two
      quotations of market value from third parties actively engaged in the servicing
      of single-family mortgage loans. Notwithstanding the foregoing, the compensation
      payable to a successor master servicer may not exceed the compensation which
      the
      Master Servicer would have been entitled to retain if the Master Servicer had
      continued to act as Master Servicer hereunder.

     

    Section
      7.07  Sale
      and
      Assignment of Master Servicing.

     

    The
      Master Servicer may sell and assign its rights and delegate its duties and
      obligations in its entirety as Master Servicer under this Agreement and EMC
      may
      terminate the Master Servicer without cause and select a new Master Servicer;
      provided, however, that: (i) the purchaser or transferee accepting such
      assignment and delegation (a) shall be a Person which shall be qualified to
      service mortgage loans for Fannie Mae or Freddie Mac; (b) shall have a net
      worth
      of not less than $10,000,000 (unless otherwise approved by each Rating Agency
      pursuant to clause (ii) below); (c) shall be reasonably satisfactory to the
      Trustee (as evidenced in a writing signed by the Trustee); and (d) shall execute
      and deliver to the Trustee an agreement, in form and substance reasonably
      satisfactory to the Trustee, which contains an assumption by such Person of
      the
      due and punctual performance and observance of each covenant and condition
      to be
      performed or observed by it as master servicer under this Agreement, any
      custodial agreement from and after the effective date of such agreement; (ii)
      each Rating Agency shall be given prior written notice of the identity of the
      proposed successor to the Master Servicer and each Rating Agency’s rating of the
      Certificates in effect immediately prior to such assignment, sale and delegation
      will not be downgraded, qualified or withdrawn as a result of such assignment,
      sale and delegation, as evidenced by a letter to such effect delivered to the
      Master Servicer and the Trustee; (iii) the Master Servicer assigning and selling
      the master servicing shall deliver to the Trustee an Officer’s Certificate and
      an Opinion of Independent Counsel addressed to the Trustee, each stating that
      all conditions precedent to such action under this Agreement have been completed
      and such action is permitted by and complies with the terms of this Agreement;
      and (iv) in the event the Master Servicer is terminated without cause by EMC,
      EMC shall pay the terminated Master Servicer a termination fee equal to 0.25%
      of
      the aggregate Scheduled Principal Balance of the Mortgage Loans at the time
      the
      master servicing of the Mortgage Loans is transferred to the successor Master
      Servicer. No such assignment or delegation shall affect any liability of the
      Master Servicer arising prior to the effective date thereof.

     

    ARTICLE
      VIII

    DEFAULT

     

    Section
      8.01  Events
      of
      Default.

     

    “Event
      of
      Default,” wherever used herein, means any one of the following events (whatever
      the reason for such Event of Default and whether it shall be voluntary or
      involuntary or be effected by operation of law or pursuant to any judgment,
      decree or order of any court or any order, rule or regulation of any
      administrative or governmental body) and only with respect to the defaulting
      Master Servicer:

     

    (i) any
      failure by the Master Servicer to remit to the Securities Administrator any
      amounts received or collected by the Master Servicer in respect of the Mortgage
      Loans and required to be remitted by it (other than any Monthly Advance)
      pursuant to this Agreement, which failure shall continue unremedied for one
      Business Day after the date on which written notice of such failure shall have
      been given to the Master Servicer by the Trustee or the Depositor, or to the
      Trustee and the Master Servicer by the Holders of Certificates evidencing not
      less than 25% of the Voting Rights evidenced by the Certificates;
      or

     

    (ii) The
      Master Servicer fails to observe or perform in any material respect any other
      material covenants and agreements set forth in this Agreement to be performed
      by
      it, which covenants and agreements materially affect the rights of
      Certificateholders, and such failure continues unremedied for a period of 60
      days after the date on which written notice of such failure, properly requiring
      the same to be remedied, shall have been given to the Master Servicer by the
      Trustee or to the Master Servicer and the Trustee by the Holders of Certificates
      evidencing Fractional Undivided Interests aggregating not less than 25% of
      the
      Trust Fund; or

     

    (iii) There
      is
      entered against the Master Servicer a decree or order by a court or agency
      or
      supervisory authority having jurisdiction in the premises for the appointment
      of
      a conservator, receiver or liquidator in any insolvency, readjustment of debt,
      marshaling of assets and liabilities or similar proceedings, or for the winding
      up or liquidation of its affairs, and the continuance of any such decree or
      order is unstayed and in effect for a period of 60 consecutive days, or an
      involuntary case is commenced against the Master Servicer under any applicable
      insolvency or reorganization statute and the petition is not dismissed within
      60
      days after the commencement of the case; or

     

    (iv) The
      Master Servicer consents to the appointment of a conservator or receiver or
      liquidator in any insolvency, readjustment of debt, marshaling of assets and
      liabilities or similar proceedings of or relating to the Master Servicer or
      substantially all of its property; or the Master Servicer admits in writing
      its
      inability to pay its debts generally as they become due, files a petition to
      take advantage of any applicable insolvency or reorganization statute, makes
      an
      assignment for the benefit of its creditors, or voluntarily suspends payment
      of
      its obligations;

     

    (v) The
      Master Servicer assigns or delegates its duties or rights under this Agreement
      in contravention of the provisions permitting such assignment or delegation
      under Sections 7.05 or 7.07; or

     

    (vi) The
      Master Servicer fails to deposit, or cause to be deposited, in the Distribution
      Account any Monthly Advance required to be made by the Master Servicer (other
      than a Nonrecoverable Advance) by the close of business on the Business Day
      prior to the related Distribution Date.

     

    In
      each
      and every such case, so long as such Event of Default with respect to the Master
      Servicer shall not have been remedied, either the Trustee or the Holders of
      Certificates evidencing Fractional Undivided Interests aggregating not less
      than
      51% of the principal of the Trust Fund, by notice in writing to the Master
      Servicer (and to the Trustee if given by such Certificateholders), with a copy
      to the Rating Agencies, and with the consent of EMC, may terminate all of the
      rights and obligations (but not the liabilities) of the Master Servicer under
      this Agreement and in and to the Mortgage Loans and/or the REO Property serviced
      by the Master Servicer and the proceeds thereof. Upon the receipt by the Master
      Servicer of the written notice, all authority and power of the Master Servicer
      under this Agreement, whether with respect to the Certificates, the Mortgage
      Loans, REO Property or under any other related agreements (but only to the
      extent that such other agreements relate to the Mortgage Loans or related REO
      Property) shall, subject to Section 8.02, automatically and without further
      action pass to and be vested in the Trustee pursuant to this Section 8.01;
      and,
      without limitation, the Trustee is hereby authorized and empowered to execute
      and deliver, on behalf of the Master Servicer as attorney-in-fact or otherwise,
      any and all documents and other instruments and to do or accomplish all other
      acts or things necessary or appropriate to effect the purposes of such notice
      of
      termination, whether to complete the transfer and endorsement or assignment
      of
      the Mortgage Loans and related documents, or otherwise. The Master Servicer
      agrees to cooperate with the Trustee in effecting the termination of the Master
      Servicer’s rights and obligations hereunder, including, without limitation, the
      transfer to the Trustee of (i) the property and amounts which are then or should
      be part of the Trust or which thereafter become part of the Trust; and (ii)
      originals or copies of all documents of the Master Servicer reasonably requested
      by the Trustee to enable it to assume the Master Servicer’s duties thereunder.
      In addition to any other amounts which are then, or, notwithstanding the
      termination of its activities under this Agreement, may become payable to the
      Master Servicer under this Agreement, the Master Servicer shall be entitled
      to
      receive, out of any amount received on account of a Mortgage Loan or related
      REO
      Property, that portion of such payments which it would have received as
      reimbursement under this Agreement if notice of termination had not been given.
      The termination of the rights and obligations of the Master Servicer shall
      not
      affect any obligations incurred by the Master Servicer prior to such
      termination. The Securities Administrator shall promptly notify the Trustee
      in
      writing of the occurrence of an Event of Default under clauses (i) or (vi)
      above.

     

    Notwithstanding
      the foregoing, if an Event of Default described in clause (vi) of this Section
      8.01 shall occur and the Securities Administrator fails to make such Advance
      described in clause (vi) of Section 8.01, the Trustee shall, by notice in
      writing to the Master Servicer, which may be delivered by telecopy, immediately
      terminate all of the rights and obligations of the Master Servicer thereafter
      arising under this Agreement, but without prejudice to any rights it may have
      as
      a Certificateholder or to reimbursement of Monthly Advances and other advances
      of its own funds, and the Trustee shall act as provided in Section 8.02 to
      carry
      out the duties of the Master Servicer, including the obligation to make any
      Monthly Advance the nonpayment of which was an Event of Default described in
      clause (vi) of this Section 8.01. Any such action taken by the Trustee must
      be
      prior to the distribution on the relevant Distribution Date.

     

    Section
      8.02  Trustee
      to Act; Appointment of Successor.

     

    (a)  Upon
      the
      receipt by the Master Servicer of a notice of termination pursuant to Section
      8.01 or an Opinion of Independent Counsel pursuant to Section 7.05 to the effect
      that the Master Servicer is legally unable to act or to delegate its duties
      to a
      Person which is legally able to act, the Trustee shall automatically become
      the
      successor in all respects to the Master Servicer in its capacity under this
      Agreement and the transactions set forth or provided for herein and shall
      thereafter have all of the rights and powers of, and be subject to all the
      responsibilities, duties, liabilities and limitations on liabilities relating
      thereto placed on the Master Servicer by the terms and provisions hereof;
      provided, however, that the Trustee shall have no obligation whatsoever with
      respect to any liability (other than advances deemed recoverable and not
      previously made) incurred by the Master Servicer at or prior to the time of
      termination. As compensation therefor, but subject to Section 7.06, the Trustee
      shall be entitled to compensation which the Master Servicer would have been
      entitled to retain if the Master Servicer had continued to act hereunder, except
      for those amounts due the Master Servicer as reimbursement permitted under
      this
      Agreement for advances previously made or expenses previously incurred.
      Notwithstanding the above, the Trustee may, if it shall be unwilling so to
      act,
      or shall, if it is legally unable so to act, appoint or petition a court of
      competent jurisdiction to appoint, any established housing and home finance
      institution which is a Fannie Mae- or Freddie Mac-approved servicer, and with
      respect to a successor to the Master Servicer only, having a net worth of not
      less than $10,000,000, as the successor to the Master Servicer hereunder in
      the
      assumption of all or any part of the responsibilities, duties or liabilities
      of
      the Master Servicer hereunder; provided, that the Trustee shall obtain a letter
      from each Rating Agency that the ratings, if any, on each of the Certificates
      will not be lowered as a result of the selection of the successor to the Master
      Servicer. Pending appointment of a successor to the Master Servicer hereunder,
      the Trustee shall act in such capacity as hereinabove provided. In connection
      with such appointment and assumption, the Trustee may make such arrangements
      for
      the compensation of such successor out of payments on the Mortgage Loans as
      it
      and such successor shall agree; provided, however, that the provisions of
      Section 7.06 shall apply, the compensation shall not be in excess of that which
      the Master Servicer would have been entitled to if the Master Servicer had
      continued to act hereunder, and that such successor shall undertake and assume
      the obligations of the Trustee to pay compensation to any third Person acting
      as
      an agent or independent contractor in the performance of master servicing
      responsibilities hereunder. The Trustee and such successor shall take such
      action, consistent with this Agreement, as shall be necessary to effectuate
      any
      such succession.

     

    (b)  If
      the
      Trustee shall succeed to any duties of the Master Servicer respecting the
      Mortgage Loans as provided herein, it shall do so in a separate capacity and
      not
      in its capacity as Trustee and, accordingly, the provisions of Article IX shall
      be inapplicable to the Trustee in its duties as the successor to the Master
      Servicer in the servicing of the Mortgage Loans (although such provisions shall
      continue to apply to the Trustee in its capacity as Trustee); the provisions
      of
      Article VII, however, shall apply to it in its capacity as successor master
      servicer.

     

    Section
      8.03  Notification
      to Certificateholders.

     

    Upon
      any
      termination or appointment of a successor to the Master Servicer, the Trustee
      shall give prompt written notice thereof to Certificateholders at their
      respective addresses appearing in the Certificate Register and to the Rating
      Agencies.

     

    Section
      8.04  Waiver
      of
      Defaults.

     

    The
      Trustee shall transmit by mail to all Certificateholders, within 60 days after
      the occurrence of any Event of Default actually known to a Responsible Officer
      of the Trustee, unless such Event of Default shall have been cured, notice
      of
      each such Event of Default. The Holders of Certificates evidencing Fractional
      Undivided Interests aggregating not less than 51% of the Trust Fund may, on
      behalf of all Certificateholders, waive any default by the Master Servicer
      in
      the performance of its obligations hereunder and the consequences thereof,
      except a default in the making of or the causing to be made any required
      distribution on the Certificates, which default may only be waived by Holders
      of
      Certificates evidencing Fractional Undivided Interests aggregating 100% of
      the
      Trust Fund. Upon any such waiver of a past default, such default shall be deemed
      to cease to exist, and any Event of Default arising therefrom shall be deemed
      to
      have been timely remedied for every purpose of this Agreement. No such waiver
      shall extend to any subsequent or other default or impair any right consequent
      thereon except to the extent expressly so waived. The Trustee shall give notice
      of any such waiver to the Rating Agencies.

     

    Section
      8.05  List
      of
      Certificateholders.

     

    Upon
      written request of three or more Certificateholders of record, for purposes
      of
      communicating with other Certificateholders with respect to their rights under
      this Agreement, the Trustee will afford such Certificateholders access during
      business hours to the most recent list of Certificateholders held by the
      Trustee.

     

    ARTICLE
      IX

    CONCERNING
      THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

     

    Section
      9.01  Duties
      of
      Trustee.

     

    (a)  The
      Trustee, prior to the occurrence of an Event of Default and after the curing
      or
      waiver of all Events of Default which may have occurred, and the Securities
      Administrator each undertake to perform such duties and only such duties as
      are
      specifically set forth in this Agreement as duties of the Trustee and the
      Securities Administrator, respectively. If an Event of Default has occurred
      and
      has not been cured or waived, the Trustee shall exercise such of the rights
      and
      powers vested in it by this Agreement, and subject to Section 8.02(b) use the
      same degree of care and skill in their exercise, as a prudent person would
      exercise under the circumstances in the conduct of his own affairs.

     

    (b)  Upon
      receipt of all resolutions, certificates, statements, opinions, reports,
      documents, orders or other instruments which are specifically required to be
      furnished to the Trustee and the Securities Administrator pursuant to any
      provision of this Agreement, the Trustee and the Securities Administrator,
      respectively, shall examine them to determine whether they are in the form
      required by this Agreement; provided, however, that neither the Trustee nor
      the
      Securities Administrator shall be responsible for the accuracy or content of
      any
      resolution, certificate, statement, opinion, report, document, order or other
      instrument furnished hereunder; provided, further, that neither the Trustee
      nor
      the Securities Administrator shall be responsible for the accuracy or
      verification of any calculation provided to it pursuant to this
      Agreement.

     

    (c)  On
      each
      Distribution Date, the Paying Agent shall make monthly distributions and the
      final distribution to the Certificateholders from funds in the Distribution
      Account as provided in Sections 6.01 and 10.01 herein based solely on the report
      of the Securities Administrator.

     

    (d)  No
      provision of this Agreement shall be construed to relieve the Trustee or the
      Securities Administrator from liability for its own negligent action, its own
      negligent failure to act or its own willful misconduct; provided, however,
      that:

     

    (i)  Prior
      to
      the occurrence of an Event of Default, and after the curing or waiver of all
      such Events of Default which may have occurred, the duties and obligations
      of
      the Trustee and the Securities Administrator shall be determined solely by
      the
      express provisions of this Agreement, neither the Trustee nor the Securities
      Administrator shall be liable except for the performance of their respective
      duties and obligations as are specifically set forth in this Agreement, no
      implied covenants or obligations shall be read into this Agreement against
      the
      Trustee or the Securities Administrator and, in the absence of bad faith on
      the
      part of the Trustee or the Securities Administrator, respectively, the Trustee
      or the Securities Administrator, respectively, may conclusively rely, as to
      the
      truth of the statements and the correctness of the opinions expressed therein,
      upon any certificates or opinions furnished to the Trustee or the Securities
      Administrator, respectively, and conforming to the requirements of this
      Agreement;

     

    (ii)  Neither
      the Trustee nor the Securities Administrator shall be liable in its individual
      capacity for an error of judgment made in good faith by a Responsible Officer
      or
      Responsible Officers of the Trustee or an officer of the Securities
      Administrator, respectively, unless it shall be proved that the Trustee or
      the
      Securities Administrator, respectively, was negligent in ascertaining the
      pertinent facts;

     

    (iii)  Neither
      the Trustee nor the Securities Administrator shall be liable with respect to
      any
      action taken, suffered or omitted to be taken by it in good faith in accordance
      with the directions of the Holders of Certificates evidencing Fractional
      Undivided Interests aggregating not less than 25% of the Trust Fund, if such
      action or non-action relates to the time, method and place of conducting any
      proceeding for any remedy available to the Trustee or the Securities
      Administrator, respectively, or exercising any trust or other power conferred
      upon the Trustee or the Securities Administrator, respectively, under this
      Agreement;

     

    (iv)  The
      Trustee shall not be required to take notice or be deemed to have notice or
      knowledge of any default or Event of Default unless a Responsible Officer of
      the
      Trustee’s Corporate Trust Office shall have actual knowledge thereof. In the
      absence of such notice, the Trustee may conclusively assume there is no such
      default or Event of Default;

     

    (v)  The
      Trustee shall not in any way be liable by reason of any insufficiency in any
      Account held by or in the name of Trustee unless it is determined by a court
      of
      competent jurisdiction that the Trustee’s gross negligence or willful misconduct
      was the primary cause of such insufficiency (except to the extent that the
      Trustee is obligor and has defaulted thereon);

     

    (vi)  Anything
      in this Agreement to the contrary notwithstanding, in no event shall the Trustee
      or the Securities Administrator be liable for special, indirect or consequential
      loss or damage of any kind whatsoever (including but not limited to lost
      profits), even if the Trustee or the Securities Administrator, respectively,
      has
      been advised of the likelihood of such loss or damage and regardless of the
      form
      of action;

     

    (vii)  None
      of
      the Securities Administrator, the Depositor or the Trustee shall be responsible
      for the acts or omissions of the other, it being understood that this Agreement
      shall not be construed to render them partners, joint venturers or agents of
      one
      another and

     

    (viii)  Neither
      the Trustee nor the Securities Administrator shall be required to expend or
      risk
      its own funds or otherwise incur financial liability in the performance of
      any
      of its duties hereunder, or in the exercise of any of its rights or powers,
      if
      there is reasonable ground for believing that the repayment of such funds or
      adequate indemnity against such risk or liability is not reasonably assured
      to
      it, and none of the provisions contained in this Agreement shall in any event
      require the Trustee or the Securities Administrator to perform, or be
      responsible for the manner of performance of, any of the obligations of the
      Master Servicer under the Servicing Agreements, except during such time, if
      any,
      as the Trustee shall be the successor to, and be vested with the rights, duties,
      powers and privileges of, the Master Servicer in accordance with the terms
      of
      this Agreement.

     

    (e)  All
      funds
      received by the Master Servicer and the Trustee and required to be deposited
      in
      the Distribution Account pursuant to this Agreement will be promptly so
      deposited by the Master Servicer and the Trustee.

     

    (f)  Except
      for those actions that the Trustee or the Securities Administrator is required
      to take hereunder, neither the Trustee nor the Securities Administrator shall
      have any obligation or liability to take any action or to refrain from taking
      any action hereunder in the absence of written direction as provided
      hereunder.

     

    Section
      9.02  Certain
      Matters Affecting the Trustee and the Securities Administrator.

     

    Except
      as
      otherwise provided in Section 9.01:

     

    (i)  The
      Trustee and the Securities Administrator may rely and shall be protected in
      acting or refraining from acting in reliance on any resolution, certificate
      of
      the Depositor, the Master Servicer or a Servicer, certificate of auditors or
      any
      other certificate, statement, instrument, opinion, report, notice, request,
      consent, order, appraisal, bond or other paper or document believed by it to
      be
      genuine and to have been signed or presented by the proper party or
      parties;

     

    (ii)  The
      Trustee and the Securities Administrator may consult with counsel and any advice
      of such counsel or any Opinion of Counsel shall be full and complete
      authorization and protection with respect to any action taken or suffered or
      omitted by it hereunder in good faith and in accordance with such advice or
      Opinion of Counsel:

     

    (iii)  Neither
      the Trustee nor the Securities Administrator shall be under any obligation
      to
      exercise any of the trusts or powers vested in it by this Agreement, other
      than
      its obligation to give notices pursuant to this Agreement, or to institute,
      conduct or defend any litigation hereunder or in relation hereto at the request,
      order or direction of any of the Certificateholders pursuant to the provisions
      of this Agreement, unless such Certificateholders shall have offered to the
      Trustee reasonable security or indemnity against the costs, expenses and
      liabilities which may be incurred therein or thereby. Nothing contained herein
      shall, however, relieve the Trustee of the obligation, upon the occurrence
      of an
      Event of Default of which a Responsible Officer of the Trustee has actual
      knowledge (which has not been cured or waived), to exercise such of the rights
      and powers vested in it by this Agreement, and to use the same degree of care
      and skill in their exercise, as a prudent person would exercise under the
      circumstances in the conduct of his own affairs;

     

    (iv)  Prior
      to
      the occurrence of an Event of Default hereunder and after the curing or waiver
      of all Events of Default which may have occurred, neither the Trustee nor the
      Securities Administrator shall be liable in its individual capacity for any
      action taken, suffered or omitted by it in good faith and believed by it to
      be
      authorized or within the discretion or rights or powers conferred upon it by
      this Agreement;

     

    (v)  Neither
      the Trustee nor the Securities Administrator shall be bound to make any
      investigation into the facts or matters stated in any resolution, certificate,
      statement, instrument, opinion, report, notice, request, consent, order,
      approval, bond or other paper or document, unless requested in writing to do
      so
      by Holders of Certificates evidencing Fractional Undivided Interests aggregating
      not less than 25% of the Trust Fund and provided that the payment within a
      reasonable time to the Trustee or the Securities Administrator, as applicable,
      of the costs, expenses or liabilities likely to be incurred by it in the making
      of such investigation is, in the opinion of the Trustee or the Securities
      Administrator, as applicable, reasonably assured to the Trustee or the
      Securities Administrator, as applicable, by the security afforded to it by
      the
      terms of this Agreement. The Trustee or the Securities Administrator may require
      reasonable indemnity against such expense or liability as a condition to taking
      any such action. The reasonable expense of every such examination shall be
      paid
      by the Certificateholders requesting the investigation;

     

    (vi)  The
      Trustee and the Securities Administrator may execute any of the trusts or powers
      hereunder or perform any duties hereunder either directly or through Affiliates,
      agents or attorneys; provided, however, that the Trustee may not appoint any
      agent to perform its custodial functions with respect to the Mortgage Files
      or
      Trustee functions under this Agreement without the express written consent
      of
      the Master Servicer, which consent will not be unreasonably withheld. Neither
      the Trustee nor the Securities Administrator shall be liable or responsible
      for
      the misconduct or negligence of any of the Trustee’s or the Securities
      Administrator’s agents or attorneys or a custodian or Trustee appointed
      hereunder by the Trustee or the Securities Administrator with due care and,
      when
      required, with the consent of the Master Servicer;

     

    (vii)  Should
      the Trustee or the Securities Administrator deem the nature of any action
      required on its part, other than a payment or transfer under Subsection 4.01(b)
      or Section 4.02, to be unclear, the Trustee or the Securities Administrator,
      respectively, may require prior to such action that it be provided by the
      Depositor with reasonable further instructions;

     

    (viii)  The
      right
      of the Trustee or the Securities Administrator to perform any discretionary
      act
      enumerated in this Agreement shall not be construed as a duty, and neither
      the
      Trustee nor the Securities Administrator shall be accountable for other than
      its
      negligence or willful misconduct in the performance of any such
      act;

     

    (ix)  Neither
      the Trustee nor the Securities Administrator shall be required to give any
      bond
      or surety with respect to the execution of the trust created hereby or the
      powers granted hereunder, except as provided in Subsection 9.07;
      and

     

    (x)  Neither
      the Trustee nor the Securities Administrator shall have any duty to conduct
      any
      affirmative investigation as to the occurrence of any condition requiring the
      repurchase of any Mortgage Loan by the Seller pursuant to this Agreement or
      the
      Mortgage Loan Purchase Agreement, as applicable, or the eligibility of any
      Mortgage Loan for purposes of this Agreement.

     

    Section
      9.03  Trustee
      and Securities Administrator Not Liable for Certificates or Mortgage
      Loans.

     

    The
      recitals contained herein and in the Certificates (other than the signature
      and
      countersignature of the Certificate Registrar on the Certificates) shall be
      taken as the statements of the Depositor, and neither the Trustee, or the
      Custodian on its behalf, nor the Securities Administrator shall have any
      responsibility for their correctness. Neither the Trustee nor the Securities
      Administrator makes any representation as to the validity or sufficiency of
      the
      Certificates (other than the signature and countersignature of the Certificate
      Registrar on the Certificates) or of any Mortgage Loan except as expressly
      provided in Sections 2.02 and 2.05 hereof; provided, however, that the foregoing
      shall not relieve the Trustee, or the Custodian on its behalf, of the obligation
      to review the Mortgage Files pursuant to Sections 2.02 and 2.04. The Trustee’s
      signature and countersignature (or countersignature of its agent) on the
      Certificates shall be solely in its capacity as Trustee and shall not constitute
      the Certificates an obligation of the Trustee in any other capacity. Neither
      the
      Trustee or the Securities Administrator shall be accountable for the use or
      application by the Depositor of any of the Certificates or of the proceeds
      of
      such Certificates, or for the use or application of any funds paid to the
      Depositor with respect to the Mortgage Loans. Subject to the provisions of
      Section 2.05, neither the Trustee nor the Securities Administrator shall be
      responsible for the legality or validity of this Agreement or any document
      or
      instrument relating to this Agreement, the validity of the execution of this
      Agreement or of any supplement hereto or instrument of further assurance, or
      the
      validity, priority, perfection or sufficiency of the security for the
      Certificates issued hereunder or intended to be issued hereunder. Neither the
      Trustee nor the Securities Administrator shall at any time have any
      responsibility or liability for or with respect to the legality, validity and
      enforceability of any Mortgage or any Mortgage Loan, or the perfection and
      priority of any Mortgage or the maintenance of any such perfection and priority,
      or for or with respect to the sufficiency of the Trust Fund or its ability
      to
      generate the payments to be distributed to Certificateholders, under this
      Agreement. Neither the Trustee nor the Securities Administrator shall have
      any
      responsibility for filing any financing statement or continuation statement
      in
      any public office at any time or to otherwise perfect or maintain the perfection
      of any security interest or lien granted to it hereunder or to record this
      Agreement.

     

    Section
      9.04  Trustee
      and Securities Administrator May Own Certificates.

     

    The
      Trustee and the Securities Administrator in its individual capacity or in any
      capacity other than as Trustee hereunder may become the owner or pledgee of
      any
      Certificates with the same rights it would have if it were not Trustee or the
      Securities Administrator, as applicable, and may otherwise deal with the parties
      hereto.

     

    Section
      9.05  Trustee’s
      and Securities Administrator’s Fees and Expenses.

     

    The
      fees
      and expenses of the Trustee and the Securities Administrator shall be paid
      in
      accordance with a side letter agreement between the Trustee and the Master
      Servicer. In addition, the Trustee and the Securities Administrator will be
      entitled to recover from the Distribution Account pursuant to Section
      4.05(a)(ii) all reasonable out-of-pocket expenses, disbursements and advances
      and the expenses of the Trustee and the Securities Administrator, respectively,
      in connection with any Event of Default, any breach of this Agreement or any
      claim or legal action (including any pending or threatened claim or legal
      action) or incurred or made by the Trustee or the Securities Administrator,
      respectively, in the administration of the trusts hereunder (including the
      reasonable compensation, expenses and disbursements of its counsel) except
      any
      such expense, disbursement or advance as may arise from its negligence or
      intentional misconduct or which is the responsibility of the Certificateholders.
      If funds in the Distribution Account are insufficient therefor, the Trustee
      and
      the Securities Administrator shall recover such expenses from the Depositor
      and
      the Depositor hereby agrees to pay such expenses, disbursements or advances
      upon
      demand. Such compensation and reimbursement obligation shall not be limited
      by
      any provision of law in regard to the compensation of a trustee of an express
      trust.

     

    Section
      9.06  Eligibility
      Requirements for Trustee, Paying Agent and Securities
      Administrator.

     

    The
      Trustee and any successor Trustee, Paying Agent and any successor Paying Agent
      and the Securities Administrator and any successor Securities Administrator
      shall during the entire duration of this Agreement be a state bank or trust
      company or a national banking association organized and doing business under
      the
      laws of such state or the United States of America, authorized under such laws
      to exercise corporate trust powers, having a combined capital and surplus and
      undivided profits of at least $40,000,000 or, in the case of a successor
      Trustee, $50,000,000, subject to supervision or examination by federal or state
      authority and, in the case of the Trustee, rated “BBB” or higher by S&P with
      respect to their long-term rating and rated “BBB” or higher by S&P and
“Baa2” or higher by Moody’s with respect to any outstanding long-term unsecured
      unsubordinated debt, and, in the case of a successor Trustee, successor Paying
      Agent or successor Securities Administrator other than pursuant to Section
      9.10,
      rated in one of the two highest long-term debt categories of, or otherwise
      acceptable to, each of the Rating Agencies. If the Trustee publishes reports
      of
      condition at least annually, pursuant to law or to the requirements of the
      aforesaid supervising or examining authority, then for the purposes of this
      Section 9.06 the combined capital and surplus of such corporation shall be
      deemed to be its total equity capital (combined capital and surplus) as set
      forth in its most recent report of condition so published. In case at any time
      the Trustee, the Paying Agent or the Securities Administrator shall cease to
      be
      eligible in accordance with the provisions of this Section 9.06, the Trustee
      or
      the Securities Administrator shall resign immediately in the manner and with
      the
      effect specified in Section 9.08.

     

    Section
      9.07  Insurance.

     

    The
      Trustee, Paying Agent and the Securities Administrator, at their own expense,
      shall at all times maintain and keep in full force and effect: (i) fidelity
      insurance, (ii) theft of documents insurance and (iii) forgery insurance (which
      may be collectively satisfied by a “Financial Institution Bond” and/or a
“Bankers’ Blanket Bond”). All such insurance shall be in amounts, with standard
      coverage and subject to deductibles, as are customary for insurance typically
      maintained by banks or their affiliates which act as custodians for
      investor-owned mortgage pools. A certificate of an officer of the Trustee,
      the
      Paying Agent or the Securities Administrator as to the Trustee’s, Paying Agent’s
      or the Securities Administrator’s, respectively, compliance with this Section
      9.07 shall be furnished to any Certificateholder upon reasonable written
      request.

     

    Section
      9.08  Resignation
      and Removal of the Trustee and Securities Administrator.

     

    (a)  The
      Trustee and the Securities Administrator may at any time resign and be
      discharged from the Trust hereby created by giving written notice thereof to
      the
      Depositor and the Master Servicer, with a copy to the Rating Agencies. Upon
      receiving such notice of resignation, the Depositor shall promptly appoint
      a
      successor Trustee or successor Securities Administrator, as applicable, by
      written instrument, in triplicate, one copy of which instrument shall be
      delivered to each of the resigning Trustee or Securities Administrator, as
      applicable, the successor Trustee or Securities Administrator, as applicable.
      If
      no successor Trustee or Securities Administrator shall have been so appointed
      and have accepted appointment within 30 days after the giving of such notice
      of
      resignation, the resigning Trustee or Securities Administrator may petition
      any
      court of competent jurisdiction for the appointment of a successor Trustee
      or
      Securities Administrator.

     

    (b)  If
      at any
      time the Trustee, the Paying Agent or the Securities Administrator shall cease
      to be eligible in accordance with the provisions of Section 9.06 and shall
      fail
      to resign after written request therefor by the Depositor or if at any time
      the
      Trustee, the Paying Agent or the Securities Administrator shall become incapable
      of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the
      Trustee, the Paying Agent or the Securities Administrator, as applicable, or
      of
      its property shall be appointed, or any public officer shall take charge or
      control of the Trustee, the Paying Agent or the Securities Administrator, as
      applicable, or of its property or affairs for the purpose of rehabilitation,
      conservation or liquidation, then the Depositor shall promptly remove the
      Trustee, or shall be entitled to remove the Paying Agent or the Securities
      Administrator, as applicable, and appoint a successor Trustee, Paying Agent
      or
      Securities Administrator, as applicable, by written instrument, in triplicate,
      one copy of which instrument shall be delivered to each of the Trustee, the
      Paying Agent or Securities Administrator, as applicable, so removed, the
      successor Trustee or Securities Administrator, as applicable.

     

    (c)  The
      Holders of Certificates evidencing Fractional Undivided Interests aggregating
      not less than 51% of the Trust Fund may at any time remove the Trustee, the
      Paying Agent or the Securities Administrator and appoint a successor Trustee,
      the Paying Agent or Securities Administrator by written instrument or
      instruments, in quadruplicate, signed by such Holders or their attorneys-in-fact
      duly authorized, one complete set of which instruments shall be delivered to
      the
      Depositor, the Paying Agent, the Master Servicer, the Securities Administrator
      (if the Trustee is removed), the Trustee (if the Securities Administrator or
      Paying Agent is removed), and the Trustee, the Paying Agent or Securities
      Administrator so removed and the successor so appointed. In the event that
      the
      Trustee, the Paying Agent or Securities Administrator is removed by the Holders
      of Certificates in accordance with this Section 9.08(c), the Holders of such
      Certificates shall be responsible for paying any compensation payable to a
      successor Trustee, successor Paying Agent or successor Securities Administrator,
      in excess of the amount paid to the predecessor Trustee, predecessor Paying
      Agent or predecessor Securities Administrator, as applicable.

     

    (d)  No
      resignation or removal of the Trustee, the Paying Agent or the Securities
      Administrator and appointment of a successor Trustee, the Paying Agent or
      Securities Administrator pursuant to any of the provisions of this Section
      9.08
      shall become effective except upon appointment of and acceptance of such
      appointment by the successor Trustee, Paying Agent or Securities Administrator
      as provided in Section 9.09.

     

    Section
      9.09  Successor
      Trustee, Successor Paying Agent and Successor Securities
      Administrator.

     

    (a)  Any
      successor Trustee, Paying Agent or Securities Administrator appointed as
      provided in Section 9.08 shall execute, acknowledge and deliver to the Depositor
      and to its predecessor Trustee, Paying Agent or Securities Administrator an
      instrument accepting such appointment hereunder. The resignation or removal
      of
      the predecessor Trustee, Paying Agent or Securities Administrator shall then
      become effective and such successor Trustee, Paying Agent or Securities
      Administrator, without any further act, deed or conveyance, shall become fully
      vested with all the rights, powers, duties and obligations of its predecessor
      hereunder, with like effect as if originally named as Trustee, Paying Agent
      or
      Securities Administrator herein. The predecessor Trustee, Paying Agent or
      Securities Administrator shall after payment of its outstanding fees and
      expenses promptly deliver to the successor Trustee, Paying Agent or Securities
      Administrator, as applicable, all assets and records of the Trust held by it
      hereunder, and the Depositor and the predecessor Trustee, Paying Agent or
      Securities Administrator, as applicable, shall execute and deliver such
      instruments and do such other things as may reasonably be required for more
      fully and certainly vesting and confirming in the successor Trustee, Paying
      Agent or Securities Administrator, as applicable, all such rights, powers,
      duties and obligations.

     

    (b)  No
      successor Trustee, Paying Agent or Securities Administrator shall accept
      appointment as provided in this Section 9.09 unless at the time of such
      acceptance such successor Trustee, Paying Agent or Securities Administrator
      shall be eligible under the provisions of Section 9.06.

     

    (c)  Upon
      acceptance of appointment by a successor trustee, paying agent or securities
      administrator as provided in this Section 9.09, the successor trustee, paying
      agent or securities administrator shall mail notice of the succession of such
      trustee, paying agent or securities administrator hereunder to all
      Certificateholders at their addresses as shown in the Certificate Register
      and
      to the Rating Agencies. The Depositor shall cause such notice to be mailed
      at
      the expense of the Trust Fund.

     

    Section
      9.10  Merger
      or
      Consolidation of Trustee, Paying Agent or Securities Administrator.

     

    Any
      state
      bank or trust company or national banking association into which the Trustee,
      Paying Agent or the Securities Administrator may be merged or converted or
      with
      which it may be consolidated or any state bank or trust company or national
      banking association resulting from any merger, conversion or consolidation
      to
      which the Trustee or the Securities Administrator, respectively, shall be a
      party, or any state bank or trust company or national banking association
      succeeding to all or substantially all of the corporate trust business of the
      Trustee, Paying Agent or the Securities Administrator, respectively, shall
      be
      the successor of the Trustee, Paying Agent or the Securities Administrator,
      respectively, hereunder, provided such state bank or trust company or national
      banking association shall be eligible under the provisions of Section 9.06.
      Such
      succession shall be valid without the execution or filing of any paper or any
      further act on the part of any of the parties hereto, anything herein to the
      contrary notwithstanding.

     

    Section
      9.11  Appointment
      of Co-Trustee or Separate Trustee.

     

    (a)  Notwithstanding
      any other provisions hereof, at any time, for the purpose of meeting any legal
      requirements of any jurisdiction in which any part of the Trust or property
      constituting the same may at the time be located, the Depositor and the Trustee
      acting jointly shall have the power and shall execute and deliver all
      instruments to appoint one or more Persons approved by the Trustee and the
      Depositor to act as co-trustee or co-trustees, jointly with the Trustee, or
      separate trustee or separate trustees, of all or any part of the Trust, and
      to
      vest in such Person or Persons, in such capacity, such title to the Trust,
      or
      any part thereof, and, subject to the other provisions of this Section 9.11,
      such powers, duties, obligations, rights and trusts as the Depositor and the
      Trustee may consider necessary or desirable.

     

    (b)  If
      the
      Depositor shall not have joined in such appointment within 15 days after the
      receipt by it of a written request so to do, the Trustee shall have the power
      to
      make such appointment without the Depositor.

     

    (c)  No
      co-trustee or separate trustee hereunder shall be required to meet the terms
      of
      eligibility as a successor Trustee under Section 9.06 hereunder and no notice
      to
      Certificateholders of the appointment of co-trustee(s) or separate trustee(s)
      shall be required under Section 9.08 hereof.

     

    (d)  In
      the
      case of any appointment of a co-trustee or separate trustee pursuant to this
      Section 9.11, all rights, powers, duties and obligations conferred or imposed
      upon the Trustee and required to be conferred on such co-trustee shall be
      conferred or imposed upon and exercised or performed by the Trustee and such
      separate trustee or co-trustee jointly, except to the extent that under any
      law
      of any jurisdiction in which any particular act or acts are to be performed
      (whether as Trustee hereunder or as successor to the Master Servicer hereunder),
      the Trustee shall be incompetent or unqualified to perform such act or acts,
      in
      which event such rights, powers, duties and obligations (including the holding
      of title to the Trust or any portion thereof in any such jurisdiction) shall
      be
      exercised and performed by such separate trustee or co-trustee at the direction
      of the Trustee.

     

    (e)  Any
      notice, request or other writing given to the Trustee shall be deemed to have
      been given to each of the then separate trustees and co-trustees, as effectively
      as if given to each of them. Every instrument appointing any separate trustee
      or
      co-trustee shall refer to this Agreement and the conditions of this Article
      IX.
      Each separate trustee and co-trustee, upon its acceptance of the trusts
      conferred, shall be vested with the estates or property specified in its
      instrument of appointment, either jointly with the Trustee or separately, as
      may
      be provided therein, subject to all the provisions of this Agreement,
      specifically including every provision of this Agreement relating to the conduct
      of, affecting the liability of, or affording protection to, the Trustee. Every
      such instrument shall be filed with the Trustee.

     

    (f)  To
      the
      extent not prohibited by law, any separate trustee or co-trustee may, at any
      time, request the Trustee, its agent or attorney-in-fact, with full power and
      authority, to do any lawful act under or with respect to this Agreement on
      its
      behalf and in its name. If any separate trustee or co-trustee shall die, become
      incapable of acting, resign or be removed, all of its estates, properties
      rights, remedies and trusts shall vest in and be exercised by the Trustee,
      to
      the extent permitted by law, without the appointment of a new or successor
      Trustee.

     

    (g)  No
      trustee under this Agreement shall be personally liable by reason of any act
      or
      omission of another trustee under this Agreement. The Depositor and the Trustee
      acting jointly may at any time accept the resignation of or remove any separate
      trustee or co-trustee.

     

    Section
      9.12  Federal
      Information Returns and Reports to Certificateholders; REMIC
      Administration.

     

    (a)  For
      federal income tax purposes, the taxable year of each REMIC shall be a calendar
      year, and the Securities Administrator shall maintain or cause the maintenance
      of the books of each such REMIC on the accrual method of
      accounting.

     

    (b)  The
      Securities Administrator shall prepare and file or cause to be filed with the
      Internal Revenue Service, and the Trustee shall sign, federal tax information
      returns or elections required to be made hereunder with respect to each REMIC,
      the Trust Fund, if applicable, and the Certificates containing such information
      and at the times and in the manner as may be required by the Code or applicable
      Treasury regulations, and shall furnish to each Holder of Certificates at any
      time during the calendar year for which such returns or reports are made such
      statements or information at the times and in the manner as may be required
      thereby, including, without limitation, reports relating to interest, original
      issue discount and market discount or premium (using a constant prepayment
      assumption of 25% CPR). The Securities Administrator will apply for an Employee
      Identification Number from the Internal Revenue Service under Form SS-4 or
      any
      other acceptable method for all tax entities. In connection with the foregoing,
      the Securities Administrator shall timely prepare and file, and the Trustee
      shall sign, Internal Revenue Service Form 8811, which shall provide the name
      and
      address of the person who can be contacted to obtain information required to
      be
      reported to the holders of regular interests in each REMIC (the “REMIC Reporting
      Agent”). The Trustee shall make elections to treat each REMIC as a REMIC (which
      elections shall apply to the taxable period ending December 31, 2006 and each
      calendar year thereafter) in such manner as the Code or applicable Treasury
      regulations may prescribe, and as described by the Securities Administrator.
      The
      Trustee shall sign all tax information returns filed pursuant to this Section
      and any other returns as may be required by the Code. The Holder of the Class
      R-I Certificate is hereby designated as the “Tax Matters Person” (within the
      meaning of Treasury Regulation Section 1.860F-4(d)) for REMIC I, the Holder
      of
      the Class R-II Certificate is hereby designated as the “Tax Matters Person” for
      REMIC II, and the Holder of the Class R-III Certificate is hereby designated
      as
      the “Tax Matters Person” for REMIC III . The Securities Administrator is hereby
      designated and appointed as the agent of each such Tax Matters Person. Any
      Holder of a Residual Certificate will by acceptance thereof appoint the
      Securities Administrator as agent and attorney-in-fact for the purpose of acting
      as Tax Matters Person for each REMIC during such time as the Securities
      Administrator does not own any such Residual Certificate. In the event that
      the
      Code or applicable Treasury regulations prohibit the Trustee from signing tax
      or
      information returns or other statements, or the Securities Administrator from
      acting as agent for the Tax Matters Person, the Trustee and the Securities
      Administrator shall take whatever action that in its sole good faith judgment
      is
      necessary for the proper filing of such information returns or for the provision
      of a Tax Matters Person, including designation of the Holder of a Residual
      Certificate to sign such returns or act as Tax Matters Person. Each Holder
      of a
      Residual Certificate shall be bound by this Section.

     

    (c)  The
      Securities Administrator shall provide upon request and receipt of reasonable
      compensation, such information as required in Section 860D(a)(6)(B) of the
      Code
      to the Internal Revenue Service, to any Person purporting to transfer a Residual
      Certificate to a Person other than a transferee permitted by Section 5.05(b),
      and to any regulated investment company, real estate investment trust, common
      trust fund, partnership, trust, estate, organization described in Section 1381
      of the Code, or nominee holding an interest in a pass-through entity described
      in Section 860E(e)(6) of the Code, any record holder of which is not a
      transferee permitted by Section 5.05(b) (or which is deemed by statute to be
      an
      entity with a disqualified member).

     

    (d)  The
      Securities Administrator shall prepare and file or cause to be filed, and the
      Trustee shall sign, any state income tax returns required under Applicable
      State
      Law with respect to each REMIC or the Trust Fund.

     

    (e)  Notwithstanding
      any other provision of this Agreement, the Trustee and the Securities
      Administrator shall comply with all federal withholding requirements respecting
      payments to Certificateholders of, or in respect of, interest or original issue
      discount on the Mortgage Loans that the Trustee or the Securities Administrator
      reasonably believes are applicable under the Code. The consent of
      Certificateholders shall not be required for such withholding. In the event
      the
      Trustee or the Securities Administrator withholds any amount from payments
      of,
      or in respect of, interest or original issue discount or advances thereof to
      any
      Certificateholder pursuant to federal withholding requirements, the Trustee
      or
      the Securities Administrator shall, together with its monthly report to such
      Certificateholders, indicate such amount withheld.

     

    (f)  The
      Trustee and the Securities Administrator agree to indemnify the Trust Fund
      and
      the Depositor for any taxes and costs including, without limitation, any
      reasonable attorneys fees imposed on or incurred by the Trust Fund, the
      Depositor or the Master Servicer, as a result of a breach of the Trustee’s
      covenants and the Securities Administrator’s covenants, respectively, set forth
      in this Section 9.12; provided, however, such liability and obligation to
      indemnify in this paragraph shall not be joint and several, and neither the
      Trustee nor the Securities Administrator shall be liable or be obligated to
      indemnify the Trust Fund for the failure by the other to perform any duty under
      this Agreement or the breach by the other of any covenant in this
      Agreement.

     

    ARTICLE
      X

    TERMINATION

     

    Section
      10.01  Termination
      Upon Repurchase by the Depositor or its Designee or Liquidation of the Mortgage
      Loans.

     

    (a)  Subject
      to Section 10.02, the respective obligations and responsibilities of the
      Depositor, the Trustee, the Paying Agent, the Master Servicer and the Securities
      Administrator created hereby, other than the obligation of the Paying Agent
      to
      make payments to Certificateholders as hereinafter set forth shall terminate
      upon:

     

    (i)  the
      repurchase by or at the direction of the Depositor or its designee of all of
      the
      Mortgage Loans and all related REO Property remaining in the Trust at a price
      (in each case, the “Termination Purchase Price”) equal to the sum of (a) 100% of
      the Outstanding Principal Balance of each Mortgage Loan (other than a Mortgage
      Loan related to REO Property) as of the date of repurchase, net of the principal
      portion of any unreimbursed Monthly Advances made by the purchaser, together
      with interest at the applicable Mortgage Interest Rate accrued but unpaid to,
      but not including, the first day of the month of repurchase, (b) the appraised
      value of any related REO Property, less the good faith estimate of the Depositor
      of liquidation expenses to be incurred in connection with its disposal thereof
      (but not more than the Outstanding Principal Balance of the related Mortgage
      Loan, together with interest at the applicable Mortgage Interest Rate accrued
      on
      that balance but unpaid to, but not including, the first day of the month of
      repurchase), such appraisal to be calculated by an appraiser mutually agreed
      upon by the Depositor and the Trustee at the expense of the Depositor, (c)
      unreimbursed out-of pocket costs of the Master Servicer, including unreimbursed
      servicing advances and the principal portion of any unreimbursed Monthly
      Advances, made on the Mortgage Loans prior to the exercise of such repurchase
      right and (d) any unreimbursed costs and expenses of the Trustee and the
      Securities Administrator payable pursuant to Section 9.05; or

     

    (ii)  the
      later
      of the making of the final payment or other liquidation, or any advance with
      respect thereto, of the last Mortgage Loan remaining in the Trust Fund or the
      disposition of all property acquired with respect to any Mortgage Loan;
      provided, however, that in the event that an advance has been made, but not
      yet
      recovered, at the time of such termination, the Person having made such advance
      shall be entitled to receive, notwithstanding such termination, any payments
      received subsequent thereto with respect to which such advance was made;
      or

     

    (iii)  the
      payment to the Certificateholders of all amounts required to be paid to them
      pursuant to this Agreement.

     

    (b)  In
      no
      event, however, shall the Trust created hereby continue beyond the earlier
      of
      (i) the latest possible maturity date specified in Section 5.01(d) and (ii)
      the
      expiration of 21 years from the death of the last survivor of the descendants
      of
      Joseph P. Kennedy, the late Ambassador of the United States to the Court of
      St.
      James’s, living on the date of this Agreement.

     

    (c)  The
      right
      of the Depositor or its designee to repurchase all the assets of the Trust
      Fund
      as described in Subsection 10.01(a)(i) above is conditioned upon (i) such
      purchase occurring after the Distribution Date on which the aggregate Scheduled
      Principal Balance of the Mortgage Loans is less than 10% of the sum of the
      aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off
      Date, or (ii) the Depositor making a determination, based upon an Opinion of
      Counsel addressed to the Depositor, the Trustee and the Securities
      Administrator, that the REMIC status of REMIC I, REMIC II or REMIC III has
      been
      lost or that a substantial risk exists that such REMIC status will be lost
      for
      the then-current taxable year. At any time thereafter, in the case of (i) or
      (ii) above, the Depositor may elect to terminate REMIC I, REMIC II or REMIC
      III
      at any time, and upon such election, the Depositor or its designee, shall
      repurchase all the assets of the Trust Fund described in Subsection 10.01(a)(i)
      above.

     

    (d)  The
      Paying Agent shall give notice of any termination to the Certificateholders,
      with a copy to the Master Servicer, the Securities Administrator, the Trustee
      and the Rating Agencies, upon which the Certificateholders shall surrender
      their
      Certificates to the Paying Agent for payment of the final distribution and
      cancellation. Such notice shall be given by letter, mailed not earlier than
      the
      l5th day and not later than the 25th day of the month next preceding the month
      of such final distribution, and shall specify (i) the Distribution Date upon
      which final payment of the Certificates will be made upon presentation and
      surrender of the Certificates at the office of the Paying Agent therein
      designated, (ii) the amount of any such final payment and (iii) that the Record
      Date otherwise applicable to such Distribution Date is not applicable, payments
      being made only upon presentation and surrender of the Certificates at the
      office of the Paying Agent therein specified.

     

    (e)  If
      the
      option of the Depositor to repurchase or cause the repurchase of all the assets
      in the Trust Fund as described in Subsection 10.01(a)(i) above, is exercised,
      the Depositor and/or its designee shall deliver to the Paying Agent for deposit
      in the Distribution Account, by the Business Day prior to the applicable
      Distribution Date, an amount equal to the Termination Purchase Price. Upon
      presentation and surrender of the Certificates by the Certificateholders, the
      Paying Agent shall distribute to such Certificateholders as directed by the
      Securities Administrator in writing an amount determined as follows: with
      respect to each Certificate (other than the Class R Certificates), the
      outstanding Current Principal Amount, plus with respect to each Certificate
      (other than the Class R Certificates), one month’s interest thereon at the
      applicable Pass-Through Rate; and with respect to the Class R Certificates,
      the
      percentage interest evidenced thereby multiplied by the difference, if any,
      between the above described repurchase price and the aggregate amount to be
      distributed to the Holders of the Certificates in such Certificate Group (other
      than the Class R Certificates). If the proceeds with respect to the Mortgage
      Loans of a Loan Group are not sufficient to pay all of the Senior Certificates
      of the related Certificate Group in full, any such deficiency shall be allocated
      first, to the Subordinate Certificates, in inverse order of their numerical
      designation and then to the Senior Certificates of the related Certificate
      Group
      on a pro rata basis. Upon deposit of the Termination Purchase Price and
      following such final Distribution Date, the Trustee or the Custodian, as its
      agent, shall release promptly to the Depositor and/or its designee the Mortgage
      Files for the remaining Mortgage Loans, and the Accounts with respect thereto
      shall terminate, subject to the Paying Agent’s obligation to hold any amounts
      payable to the Certificateholders in trust without interest pending final
      distributions pursuant to Subsection 10.01(g). Any other amounts remaining
      in
      the Accounts will belong to the Depositor.

     

    (f)  Upon
      the
      presentation and surrender of the Certificates, the Paying Agent shall
      distribute to the remaining Certificateholders, pursuant to the written
      direction of the Securities Administrator and in accordance with their
      respective interests, all distributable amounts remaining in the Distribution
      Account. Upon deposit by the Master Servicer of such distributable amounts,
      and
      following such final Distribution Date, the Paying Agent shall release promptly
      to the Depositor or its designee the Mortgage Files for the remaining Mortgage
      Loans, and the Distribution Account shall terminate, subject to the Paying
      Agent’s obligation to hold any amounts payable to the Certificateholders in
      trust without interest pending final distributions pursuant to this Subsection
      10.01(f).

     

    (g)  If
      not
      all of the Certificateholders shall surrender their Certificates for
      cancellation within six months after the time specified in the above-mentioned
      written notice, the Paying Agent shall give a second written notice to the
      remaining Certificateholders to surrender their Certificates for cancellation
      and receive the final distribution with respect thereto. If within six months
      after the second notice, not all the Certificates shall have been surrendered
      for cancellation, the Paying Agent may take appropriate steps, or appoint any
      agent to take appropriate steps, to contact the remaining Certificateholders
      concerning surrender of their Certificates, and the cost thereof shall be paid
      out of the funds and other assets which remain subject to this
      Agreement.

     

    Section
      10.02  Additional
      Termination Requirements.

     

    (a)  If
      the
      option of the Depositor to repurchase all of the Mortgage Loans under Subsection
      10.01(a)(i) above is exercised, the Trust Fund and each REMIC shall be
      terminated in accordance with the following additional requirements, unless
      the
      Trustee and Securities Administrator have been furnished with an Opinion of
      Counsel addressed to the Trustee and Securities Administrator to the effect
      that
      the failure of the Trust to comply with the requirements of this Section 10.02
      will not (i) result in the imposition of taxes on “prohibited transactions” as
      defined in Section 860F of the Code on any REMIC or (ii) cause any REMIC to
      fail
      to qualify as a REMIC at any time that any Certificates are
      outstanding:

     

    (i)  within
      90
      days prior to the final Distribution Date, at the written direction of the
      Depositor, the Securities Administrator, as agent for the respective Tax Matters
      Persons, shall adopt a plan of complete liquidation of each REMIC, in the case
      of a termination under Subsection 10.01(a)(i), provided to it by the Depositor,
      which meets the requirements of a “qualified liquidation” under Section 860F of
      the Code and any regulations thereunder; and

     

    (ii)  the
      Depositor shall notify the Trustee at the commencement of such 90-day
      liquidation period and, at or prior to the time of making of the final payment
      on the Certificates, the Trustee shall sell or otherwise dispose of all of
      the
      remaining assets of the Trust Fund in accordance with the terms
      hereof.

     

    (b)  By
      their
      acceptance of the Residual Certificates, the Holders thereof hereby (i) agree
      to
      adopt such a plan of complete liquidation of the related REMIC upon the written
      request of the Depositor, and to take such action in connection therewith as
      may
      be reasonably requested by the Depositor, and (ii) appoint the Depositor as
      their attorney-in-fact, with full power of substitution, for purposes of
      adopting such a plan of complete liquidation. The Securities Administrator
      shall
      adopt such plan of liquidation by filing the appropriate statement on the final
      tax return of each REMIC. Upon complete liquidation or final distribution of
      all
      of the assets of the Trust Fund, the Trust Fund and each REMIC shall
      terminate.

     

     

    ARTICLE
      XI

    [RESERVED]

     

     

     

    ARTICLE
      XII

    MISCELLANEOUS
      PROVISIONS

     

    Section
      12.01  Intent
      of
      Parties.

     

    The
      parties intend that each of REMIC I, REMIC II and REMIC III shall be treated
      as
      a REMIC for federal income tax purposes and that the provisions of this
      Agreement should be construed in furtherance of this intent.

     

    Section
      12.02  Amendment.

     

    (a)  This
      Agreement may be amended from time to time by the Depositor, the Master
      Servicer, the Securities Administrator and the Trustee, without notice to or
      the
      consent of any of the Certificateholders, to cure any ambiguity, to correct
      or
      supplement any provisions herein or therein that may be defective or
      inconsistent with any other provisions herein or therein, to comply with any
      changes in the Code, to revise any provisions to reflect the obligations of
      the
      parties to this agreement as they relate to Regulation AB or to make any
      other provisions with respect to matters or questions arising under this
      Agreement which shall not be inconsistent with the provisions of this Agreement;
      provided, however, that such action shall not, as evidenced by an Opinion of
      Independent Counsel, addressed to the Trustee, adversely affect in any material
      respect the interests of any Certificateholder.

     

    (b)  This
      Agreement may also be amended from time to time by the Master Servicer, the
      Depositor, the Securities Administrator and the Trustee, with the consent of
      the
      Holders of Certificates evidencing Fractional Undivided Interests aggregating
      not less than 51% of the Trust Fund or of the applicable Class or Classes,
      if
      such amendment affects only such Class or Classes, for the purpose of adding
      any
      provisions to or changing in any manner or eliminating any of the provisions
      of
      this Agreement or of modifying in any manner the rights of the
      Certificateholders; provided, however, that no such amendment shall (i) reduce
      in any manner the amount of, or delay the timing of, payments received on
      Mortgage Loans which are required to be distributed on any Certificate without
      the consent of the Holder of such Certificate, (ii) reduce the aforesaid
      percentage of Certificates the Holders of which are required to consent to
      any
      such amendment, without the consent of the Holders of all Certificates then
      outstanding, or (iii) cause any REMIC to fail to qualify as a REMIC for federal
      income tax purposes, as evidenced by an Opinion of Independent Counsel addressed
      to the Trustee which shall be provided to the Trustee other than at the
      Trustee’s expense. Notwithstanding any other provision of this Agreement, for
      purposes of the giving or withholding of consents pursuant to this Section
      12.02(b), Certificates registered in the name of or held for the benefit of
      the
      Depositor, the Securities Administrator, the Master Servicer, or the Trustee
      or
      any Affiliate thereof shall be entitled to vote their Fractional Undivided
      Interests with respect to matters affecting such Certificates.

     

    (c)  Promptly
      after the execution of any such amendment, the Trustee shall furnish a copy
      of
      such amendment or written notification of the substance of such amendment to
      each Certificateholder, with a copy to the Rating Agencies.

     

    (d)  In
      the
      case of an amendment under Subsection 12.02(b) above, it shall not be necessary
      for the Certificateholders to approve the particular form of such an amendment.
      Rather, it shall be sufficient if the Certificateholders approve the substance
      of the amendment. The manner of obtaining such consents and of evidencing the
      authorization of the execution thereof by Certificateholders shall be subject
      to
      such reasonable regulations as the Trustee may prescribe.

     

    (e)  Prior
      to
      the execution of any amendment to this Agreement, the Trustee shall be entitled
      to receive and rely upon an Opinion of Counsel addressed to the Trustee stating
      that the execution of such amendment is authorized or permitted by this
      Agreement. The Trustee and the Securities Administrator may, but shall not
      be
      obligated to, enter into any such amendment which affects the Trustee’s or the
      Securities Administrator’s own respective rights, duties or immunities under
      this Agreement.

     

    Section
      12.03  Recordation
      of Agreement.

     

    To
      the
      extent permitted by applicable law, this Agreement is subject to recordation
      in
      all appropriate public offices for real property records in all the counties
      or
      other comparable jurisdictions in which any or all of the Mortgaged Properties
      are situated, and in any other appropriate public recording office or elsewhere.
      The Depositor shall effect such recordation, at the expense of the Trust upon
      the request in writing of a Certificateholder, but only if such direction is
      accompanied by an Opinion of Counsel (provided at the expense of the
      Certificateholder requesting recordation) to the effect that such recordation
      would materially and beneficially affect the interests of the Certificateholders
      or is required by law.

     

    Section
      12.04  Limitation
      on Rights of Certificateholders.

     

    (a)  The
      death
      or incapacity of any Certificateholder shall not terminate this Agreement or
      the
      Trust, nor entitle such Certificateholder’s legal representatives or heirs to
      claim an accounting or to take any action or proceeding in any court for a
      partition or winding up of the Trust, nor otherwise affect the rights,
      obligations and liabilities of the parties hereto or any of them.

     

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

     

    (c)  No
      Certificateholder shall have any right by virtue of any provision of this
      Agreement to institute any suit, action or proceeding in equity or at law upon,
      under or with respect to this Agreement against the Depositor, the Securities
      Administrator, the Master Servicer or any successor to any such parties unless
      (i) such Certificateholder previously shall have given to the Trustee a written
      notice of a continuing default, as herein provided, (ii) the Holders of
      Certificates evidencing Fractional Undivided Interests aggregating not less
      than
      51% of the Trust Fund shall have made written request upon the Trustee to
      institute such action, suit or proceeding in its own name as Trustee hereunder
      and shall have offered to the Trustee such reasonable indemnity as it may
      require against the costs and expenses and liabilities to be incurred therein
      or
      thereby, and (iii) the Trustee, for 60 days after its receipt of such notice,
      request and offer of indemnity, shall have neglected or refused to institute
      any
      such action, suit or proceeding.

     

    (d)  No
      one or
      more Certificateholders shall have any right by virtue of any provision of
      this
      Agreement to affect the rights of any other Certificateholders or to obtain
      or
      seek to obtain priority or preference over any other such Certificateholder,
      or
      to enforce any right under this Agreement, except in the manner herein provided
      and for the equal, ratable and common benefit of all Certificateholders. For
      the
      protection and enforcement of the provisions of this Section 12.04, each and
      every Certificateholder and the Trustee shall be entitled to such relief as
      can
      be given either at law or in equity.

     

    Section
      12.05  Acts
      of
      Certificateholders.

     

    (a)  Any
      request, demand, authorization, direction, notice, consent, waiver or other
      action provided by this Agreement to be given or taken by Certificateholders
      may
      be embodied in and evidenced by one or more instruments of substantially similar
      tenor signed by such Certificateholders in person or by an agent duly appointed
      in writing. Except as herein otherwise expressly provided, such action shall
      become effective when such instrument or instruments are delivered to the
      Trustee and, where it is expressly required, to the Depositor. Proof of
      execution of any such instrument or of a writing appointing any such agent
      shall
      be sufficient for any purpose of this Agreement and conclusive in favor of
      the
      Trustee and the Depositor, if made in the manner provided in this Section
      12.05.

     

    (b)  The
      fact
      and date of the execution by any Person of any such instrument or writing may
      be
      proved by the affidavit of a witness of such execution or by a certificate
      of a
      notary public or other officer authorized by law to take acknowledgments of
      deeds, certifying that the individual signing such instrument or writing
      acknowledged to him the execution thereof. Where such execution is by a signer
      acting in a capacity other than his or her individual capacity, such certificate
      or affidavit shall also constitute sufficient proof of his or her authority.
      The
      fact and date of the execution of any such instrument or writing, or the
      authority of the individual executing the same, may also be proved in any other
      manner which the Trustee deems sufficient.

     

    (c)  The
      ownership of Certificates (notwithstanding any notation of ownership or other
      writing on such Certificates, except an endorsement in accordance with Section
      5.02 made on a Certificate presented in accordance with Section 5.04) shall
      be
      proved by the Certificate Register, and neither the Trustee, the Securities
      Administrator, the Depositor, the Master Servicer nor any successor to any
      such
      parties shall be affected by any notice to the contrary.

     

    (d)  Any
      request, demand, authorization, direction, notice, consent, waiver or other
      action of the holder of any Certificate shall bind every future holder of the
      same Certificate and the holder of every Certificate issued upon the
      registration of transfer or exchange thereof, if applicable, or in lieu thereof
      with respect to anything done, omitted or suffered to be done by the Trustee,
      the Securities Administrator, the Depositor, the Master Servicer or any
      successor to any such party in reliance thereon, whether or not notation of
      such
      action is made upon such Certificates.

     

    (e)  In
      determining whether the Holders of the requisite percentage of Certificates
      evidencing Fractional Undivided Interests have given any request, demand,
      authorization, direction, notice, consent or waiver hereunder, Certificates
      owned by the Trustee, the Securities Administrator, the Depositor, the Master
      Servicer or any Affiliate thereof shall be disregarded, except as otherwise
      provided in Section 12.02(b) and except that, in determining whether the Trustee
      shall be protected in relying upon any such request, demand, authorization,
      direction, notice, consent or waiver, only Certificates which a Responsible
      Officer of the Trustee actually knows to be so owned shall be so disregarded.
      Certificates which have been pledged in good faith to the Trustee, the
      Securities Administrator, the Depositor, the Master Servicer or any Affiliate
      thereof may be regarded as outstanding if the pledgor establishes to the
      satisfaction of the Trustee the pledgor’s right to act with respect to such
      Certificates and that the pledgor is not an Affiliate of the Trustee, the
      Securities Administrator, the Depositor, or the Master Servicer, as the case
      may
      be.

     

    Section
      12.06  Governing
      Law.

     

    THIS
      AGREEMENT AND THE CERTIFICATES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS
      OF
      THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS RULES (OTHER
      THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW, WHICH THE PARTIES HERETO
      EXPRESSLY RELY UPON IN THE CHOICE OF SUCH LAW AS THE GOVERNING LAW HEREUNDER)
      AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
      DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     

    Section
      12.07  Notices.

     

    All
      demands and notices hereunder shall be in writing and shall be deemed given
      when
      delivered at (including delivery by facsimile) or mailed by registered mail,
      return receipt requested, postage prepaid, or by recognized overnight courier,
      to (i) in the case of the Depositor, 383 Madison Avenue, New York, New York
      10179, Attention: Vice President-Servicing, telecopier number: (212) 272-5591,
      or to such other address as may hereafter be furnished to the other parties
      hereto in writing; (ii) in the case of the Trustee, at its Corporate Trust
      Office, or such other address as may hereafter be furnished to the other parties
      hereto in writing; (iii) in the case of the Seller, 383 Madison Avenue, New
      York, New York 10179, Attention: Vice President-Servicing, telecopier number:
      (212) 272-5591, or to such other address as may hereafter be furnished to the
      other parties hereto in writing; (iv) in the case of the Master Servicer or
      Securities Administrator, Wells Fargo Bank, N.A., P.O. Box 98, Columbia Maryland
      21046 (or, in the case of overnight deliveries, 9062 Old Annapolis Road,
      Columbia, Maryland 21045) (Attention: Corporate Trust Services - BSARM 2006-2),
      facsimile no.: (410) 715-2380, or such other address as may hereafter be
      furnished to the other parties hereto in writing; (v) in the case of the
      Certificate Registrar, the Certificate Registrar’s Office or (vi) in the case of
      the Rating Agencies, Fitch, Inc., One State Street Plaza, New York, NY 10004
      and
      Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., 55 Water
      Street, New York, New York 10041, or such other address as may hereafter be
      furnished to the other parties hereto in writing. Any notice delivered to the
      Depositor, the Master Servicer, the Securities Administrator or the Trustee
      under this Agreement shall be effective only upon receipt. Any notice required
      or permitted to be mailed to a Certificateholder, unless otherwise provided
      herein, shall be given by first-class mail, postage prepaid, at the address
      of
      such Certificateholder as shown in the Certificate Register. Any notice so
      mailed within the time prescribed in this Agreement shall be conclusively
      presumed to have been duly given when mailed, whether or not the
      Certificateholder receives such notice.

     

    Section
      12.08  Severability
      of Provisions.

     

    If
      any
      one or more of the covenants, agreements, provisions or terms of this Agreement
      shall be for any reason whatsoever held invalid, then such covenants,
      agreements, provisions or terms shall be deemed severed from the remaining
      covenants, agreements, provisions or terms of this Agreement and shall in no
      way
      affect the validity or enforceability of the other provisions of this Agreement
      or of the Certificates or the rights of the holders thereof.

     

    Section
      12.09  Successors
      and Assigns.

     

    The
      provisions of this Agreement shall be binding upon and inure to the benefit
      of
      the respective successors and assigns of the parties hereto.

     

    Section
      12.10  Article
      and Section Headings.

     

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

     

    Section
      12.11  Counterparts.

     

    This
      Agreement may be executed in two or more counterparts each of which when so
      executed and delivered shall be an original but all of which together shall
      constitute one and the same instrument.

     

    Section
      12.12  Notice
      to
      Rating Agencies.

     

    The
      article and section headings herein are for convenience of reference only,
      and
      shall not limited or otherwise affect the meaning hereof. The Trustee shall
      promptly provide notice to each Rating Agency with respect to each of the
      following of which a Responsible Officer of the Trustee has actual
      knowledge:

     

    1. Any
      material change or amendment to this Agreement or the Servicing
      Agreements;

     

    2. The
      occurrence of any Event of Default that has not been cured;

     

    3. The
      resignation or termination of the Master Servicer, the Trustee or the Securities
      Administrator;

     

    4. The
      repurchase or substitution of Mortgage Loans;

     

    5. The
      final
      payment to Certificateholders; and

     

    6. Any
      change in the location of the Distribution Account.

     

    
      
         

        
          	 	
                   

                	 

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Depositor, the Trustee, the Master Servicer and the
      Securities Administrator have caused their names to be signed hereto by their
      respective officers thereunto duly authorized as of the day and year first
      above
      written.

     

    
      	 	
              STRUCTURED
                ASSET MORTGAGE INVESTMENTS II INC., as Depositor

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              By:

            	/s/
              Baron Silverstein
	 	 	
              Name:
                Baron Silverstein

            
	 	 	
              Title:
                Vice President

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              U.S.
                BANK NATIONAL ASSOCIATION, as Trustee

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              By:

            	
              /s/
                Karen R. Beard

            
	 	 	
              Name:
                Karen R. Beard

            
	 	 	
              Title:
                Vice President

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              WELLS
                FARGO BANK, N.A., as Master Servicer

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              By:

            	/s/
              Stacey M. Taylor
	 	 	
              Name:
                Stacey M. Taylor

            
	 	 	
              Title:
                Vice President

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              WELLS
                FARGO BANK, N.A., as Securities Administrator

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              By:

            	/s/
              Stacey M. Taylor
	 	 	
              
                Name:
                  Stacey M. Taylor

              

            
	 	 	
              
                Title:
                  Vice President

            

    

    

    
      
         

        
          	 	
                   

                	 

        

         

         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              EMC
                MORTGAGE CORPORATION

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	
              By:

            	
              /s/
                David Hamilton

            
	 	 	
              Name:
                David Hamilton

            
	 	 	
              Title:
                Executive Vice President

            

    

     

    Accepted
      and Agreed as to

    Sections
      2.01, 2.02, 2.03, 2.04 and 9.09(c)

     

    in
      its
      capacity as Seller

     

    
      	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
              EMC
                MORTGAGE CORPORATION

            	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
              By:

            	/s/
              Sue Stepanek	 
	 	
              Name:
                Sue Stepanek

            	 
	 	
              Title:
                Executive Vice President

            	 

    

    

    
      
         

        
          	 	
                   

                	 

        

         

         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	STATE OF NEW YORK	)

      	 	) ss.:

      	
              COUNTY
                OF NEW YORK

            	
              )

            

    

     

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

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    

    [Notarial
      Seal]

    
      
         

        
          	 	
                   

                	 

        

         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              STATE
                OF MASSACHUSETTS

            	
              )

            

      	 	) ss.:

      	COUNTY OF SUFFOLK	)

    

     

    On
      the
      ___ day of May, 2006 before me, a notary public in and for said State,
      personally appeared Vaneta I. Bernard, known to me to be a Vice President of
      U.S. Bank National Association, the entity that executed the within instrument,
      and also known to me to be the person who executed it on behalf of said entity,
      and acknowledged to me that such entity executed the within
      instrument.

     

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

     

    and
      year
      in this certificate first above written.

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    

    [Notarial
      Seal]

    
      
         

        
          	 	
                   

                	 

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              STATE
                OF MARYLAND

            	
              )

            

      	 	) ss.:

      	COUNTY OF HOWARD	)

    

     

    On
      the
      ____ day of May, 2006 before me, a notary public in and for said State,
      personally appeared Stacey Taylor, known to me to be an Vice President of Wells
      Fargo Bank, N.A., the entity that executed the within instrument, and also
      known
      to me to be the person who executed it on behalf of said entity, and
      acknowledged to me that such entity executed the within instrument.

     

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

     

    and
      year
      in this certificate first above written.

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    

    [Notarial
      Seal]

    
      
         

        
          	 	
                   

                	 

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              STATE
                OF MARYLAND

            	
              )

            

      	 	) ss.:

      	COUNTY OF HOWARD	)

    

     

     

     

    On
      the
      ___ day of May, 2006 before me, a notary public in and for said State,
      personally appeared _____________________, known to me to be a(n)
      _____________________of Wells Fargo Bank, N.A., the entity that executed the
      within instrument, and also known to me to be the person who executed it on
      behalf of said entity, and acknowledged to me that such entity executed the
      within instrument.

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    

    [Notarial
      Seal]

    
      
         

        
          	 	
                   

                	 

        

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

      

     

    
      	STATE OF TEXAS	)

      	 	) ss.:

      	
              COUNTY
                OF DALLAS

            	
              )

            

    

     

    On
      the
      ___ day of May, 2006 before me, a notary public in and for said State,
      personally appeared Dana Dillard, known to me to be a Senior Vice President
      of
      EMC Mortgage Corporation, the corporation that executed the within instrument,
      and also known to me to be the person who executed it on behalf of said
      corporation, and acknowledged to me that such corporation executed the within
      instrument.

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    

    [Notarial
      Seal]

    
      
         

        
          	 	
                   

                	 

        

         

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
       

      
        	STATE OF TEXAS	)

        	 	) ss.:

        	
                COUNTY
                  OF DALLAS

              	
                )

              

      

       

    

    On
      the
      ___ day of May, 2006 before me, a notary public in and for said State,
      personally appeared Dana Dillard, known to me to be a Senior Vice President
      of
      EMC Mortgage Corporation, the corporation that executed the within instrument,
      and also known to me to be the person who executed it on behalf of said
      corporation, and acknowledged to me that such corporation executed the within
      instrument.

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    

    [Notarial
      Seal]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

    EXHIBIT
      A-1

     

    FORM
      OF CLASS [-A-] [X-] CERTIFICATE

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    [FOR
      THE CLASS -A-] [THE CURRENT PRINCIPAL AMOUNT OF THIS CERTIFICATE WILL BE
      DECREASED BY THE PRINCIPAL PAYMENTS HEREON AND REALIZED LOSSES ALLOCABLE HERETO.
      ACCORDINGLY, FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES, THE CURRENT
      PRINCIPAL AMOUNT OF THIS CERTIFICATE WILL BE DIFFERENT FROM THE DENOMINATION
      SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT
      PRINCIPAL AMOUNT BY INQUIRY OF THE SECURITIES ADMINISTRATOR NAMED
      HEREIN.]

     

    UNLESS
      THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
      TRUST COMPANY TO THE SECURITIES ADMINISTRATOR OR ITS AGENT FOR REGISTRATION
      OF
      TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED WILL BE REGISTERED
      IN
      THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
      REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT WILL BE MADE
      TO
      CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
      BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    
      	
              Certificate
                No. 1

            	
              [Variable]
                Pass-Through Rate

            
	 	 
	
              Class
                [_]-[_-[A]-_] [X-] Senior

            	 
	 	 
	
              Date
                of Pooling and Servicing Agreement 

              and
                Cut-off Date: May 1, 2006

            	
              Aggregate
                Initial [Current Principal] [Notional] Amount of this Senior Certificate
                as of the Cut-off Date: $[_____________]

            
	 	 
	
              First
                Distribution Date:

              June
                26, 2006

            	
              Initial
                [Current Principal] [Notional] Amount of this Senior Certificate
                as of the
                Cut-off Date: $[_____________]

            
	 	 
	
              Master
                Servicer:

              Wells
                Fargo Bank, N.A.

            	
              CUSIP:
                [____________]

            
	 	 
	
              Assumed
                Final Distribution Date:

              July
                25, 2036

            	 
	 	 

    

    BEAR
      STEARNS ARM TRUST 2006-2

    MORTGAGE
      PASS-THROUGH CERTIFICATE

    SERIES
      2006-2

     

    evidencing
      a fractional undivided interest in the distributions allocable to the Class
      [_]-[_-[A]-_] Certificates with respect to a Trust Fund consisting primarily
      of
      a pool of adjustable rate mortgage loans secured by first liens on one-to-four
      family residential properties sold by STRUCTURED ASSET MORTGAGE INVESTMENTS
      II
      INC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Structured Asset Mortgage Investments
      II Inc., the Master Servicer, the Securities Administrator or the Trustee
      referred to below or any of their affiliates or any other person. Neither this
      Certificate nor the underlying Mortgage Loans are guaranteed or insured by
      any
      governmental entity or by Structured Asset Mortgage Investments II Inc., the
      Master Servicer, Securities Administrator or the Trustee or any of their
      affiliates or any other person. None of Structured Asset Mortgage Investments
      II
      Inc., the Master Servicer or any of their affiliates will have any obligation
      with respect to any certificate or other obligation secured by or payable from
      payments on the Certificates.

     

    This
      certifies that Cede & Co. is the registered owner of the Fractional
      Undivided Interest evidenced hereby in the beneficial ownership interest of
      Certificates of the same Class as this Certificate in a trust (the “Trust Fund”)
      primarily consisting of adjustable rate mortgage loans secured by first liens
      on
      one- to four- family residential properties (collectively, the “Mortgage Loans”)
      sold by Structured Asset Mortgage Investments II Inc. (“SAMI II”). The Mortgage
      Loans were sold by EMC Mortgage Corporation (“EMC”) to SAMI II. Wells Fargo
      Bank, N.A. (“Wells Fargo”) will act as master servicer and as securities
      administrator of the Mortgage Loans (the “Master Servicer” and the “Securities
      Administrator”, which terms include any successors thereto under the Agreement
      referred to below). The Trust Fund was created pursuant to the Pooling and
      Servicing Agreement dated as of the Cut-off Date specified above (the
“Agreement”), among SAMI II, as depositor (the “Depositor”), Wells Fargo, as
      Master Servicer and securities administrator (in such capacity, the “Securities
      Administrator”), EMC as seller and U.S. Bank National Association as trustee
      (the “Trustee”), a summary of certain of the pertinent provisions of which is
      set forth hereafter. To the extent not defined herein, capitalized terms used
      herein shall have the meaning ascribed to them in the Agreement. This
      Certificate is issued under and is subject to the terms, provisions and
      conditions of the Agreement, to which Agreement the Holder of this Certificate
      by virtue of its acceptance hereof assents and by which such Holder is
      bound.

     

    Interest
      on this Certificate will accrue during the month prior to the month in which
      a
      Distribution Date (as hereinafter defined) occurs on the [Current Principal]
      [Notional] Amount hereof at a per annum rate equal to the Pass-Through Rate
      as
      described in the Agreement. The Securities Administrator will distribute on
      the
      25th day of each month, or, if such 25th day is not a Business Day, the
      immediately following Business Day (each, a “Distribution Date”), commencing on
      the First Distribution Date specified above, to the Person in whose name this
      Certificate is registered at the close of business on the last Business Day
      of
      the calendar month preceding the month of such Distribution Date, an amount
      equal to the product of the Fractional Undivided Interest evidenced by this
      Certificate and the amount (of interest [and principal], if any) required to
      be
      distributed to the Holders of Certificates of the same Class as this
      Certificate. The Assumed Final Distribution Date is the Distribution Date in
      the
      month immediately following the month of the latest scheduled maturity date
      of
      any Mortgage Loan and is not likely to be the date on which the [Current
      Principal] [Notional] Amount of this Class of Certificates will be reduced
      to
      zero.

     

    Distributions
      on this Certificate will be made by the Paying Agent by check mailed to the
      address of the Person entitled thereto as such name and address shall appear
      on
      the Certificate Register or, if such Person so requests by notifying the
      Securities Administrator in writing as specified in the Agreement by wire
      transfer. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Paying Agent of the pendency of such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Securities Administrator for that purpose
      and
      designated in such notice. The Initial [Current Principal] Notional] Amount
      of
      this Certificate is set forth above. [The Current Principal Amount hereof will
      be reduced to the extent of distributions allocable to principal hereon and
      any
      Realized Losses allocable hereto.]

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”), issued in twenty Classes. The
      Certificates, in the aggregate, evidence the entire beneficial ownership
      interest in the Trust Fund formed pursuant to the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders for any amount payable under this Certificate
      or the Agreement or, except as expressly provided in the Agreement, subject
      to
      any liability under the Agreement.

     

    This
      Certificate does not purport to summarize the Agreement and reference is made
      to
      the Agreement for the interests, rights and limitations of rights, benefits,
      obligations and duties evidenced hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Master Servicer, the Securities Administrator and the Trustee and the rights
      of
      the Certificateholders under the Agreement from time to time by the parties
      thereto with the consent of the Holders of Certificates, evidencing Fractional
      Undivided Interests aggregating not less than 51% of the Trust Fund (or in
      certain cases, Holders of Certificates of affected Classes evidencing such
      percentage of the Fractional Undivided Interests thereof). Any such consent
      by
      the Holder of this Certificate shall be conclusive and binding on such Holder
      and upon all future Holders of this Certificate and of any Certificate issued
      upon the transfer hereof or in lieu hereof whether or not notation of such
      consent is made upon this Certificate. The Agreement also permits the amendment
      thereof, in certain limited circumstances, without the consent of the Holders
      of
      any of the Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Certificate Registrar
      upon surrender of this Certificate for registration of transfer at the offices
      or agencies maintained by the Securities Administrator for such purposes, duly
      endorsed by, or accompanied by a written instrument of transfer in form
      satisfactory to the Securities Administrator duly executed by the Holder hereof
      or such Holder’s attorney duly authorized in writing, and thereupon one or more
      new Certificates in authorized denominations representing a like aggregate
      Fractional Undivided Interest will be issued to the designated
      transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Fractional Undivided Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Securities Administrator may require payment of a sum
      sufficient to cover any tax or other governmental charge payable in connection
      therewith. The Depositor, the Master Servicer, the Securities Administrator,
      the
      Trustee and any agent of any of them may treat the Person in whose name this
      Certificate is registered as the owner hereof for all purposes, and none of
      the
      Depositor, the Master Servicer, the Securities Administrator, the Trustee or
      any
      such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of the (A) final payment or other liquidation (or Advance with respect thereto)
      of the last Mortgage Loan remaining in the Trust Fund and (B) disposition of
      all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and the remittance of all funds due under the Agreement, or (ii)
      the optional repurchase by the party named in the Agreement of all the Mortgage
      Loans and other assets of the Trust Fund in accordance with the terms of the
      Agreement. Such optional repurchase may be made only on or after the
      Distribution Date on which the aggregate unpaid principal balance of the
      Mortgage Loans is less than the percentage of the aggregate Outstanding
      Principal Balance specified in the Agreement of the Mortgage Loans at the
      Cut-off Date. The exercise of such right will effect the early retirement of
      the
      Certificates. In no event, however, will the Trust Fund created by the Agreement
      continue beyond the expiration of 21 years after the death of certain persons
      identified in the Agreement.

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Securities Administrator by manual signature, this Certificate shall not be
      entitled to any benefit under the Agreement, or be valid for any
      purpose.

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF, the Securities Administrator has caused this Certificate to
      be
      duly executed.

     

    
      	
              Dated:
                May 31, 2006

            	 	
              WELLS
                FARGO BANK, N.A.

              Not
                in its individual capacity but solely as Securities
                Administrator

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

     

    This
      is
      one of the Class [_]-[_-[A]-_] [X-] Certificates referred to in the
      within-mentioned Agreement.

     

    
      	 	 	 	 	 	 	 	
              WELLS
                FARGO BANK, N.A.

              Authorized
                signatory of Wells Fargo Bank N.A., not in its individual capacity
                but
                solely as Securities Administrator

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    ASSIGNMENT

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
      __________________________________ (Please print or typewrite name and address
      including postal zip code of assignee) a Fractional Undivided Interest evidenced
      by the within Mortgage Pass-Through Certificate and hereby authorizes the
      transfer of registration of such interest to assignee on the Certificate
      Register of the Trust Fund.

     

    I
      (We)
      further direct the Certificate Registrar to issue a new Certificate of a like
      denomination and Class, to the above named assignee and deliver such Certificate
      to the following address:

     

    
      	 
	 
	 

    

    

     

    
      	
              Dated:

            	 
	 	
              Signature
                by or on behalf of assignor

            
	 	 
	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of distribution:

     

    
      	
              Distributions
                shall be made, by wire transfer or otherwise, in immediately available
                

            
	
              funds
                to

            	 
	 
	
              for
                the account of

            	 
	
              account
                number

            	 	
              or,
                if mailed by check, to

            
	 
	
              Applicable
                statements should be mailed to

            	 
	 
	 
	
              This
                information is provided by

            	 
	
              assignee
                named above, or

            	 
	
              its
                agent.

            	 

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    EXHIBIT
      A-2

     

    FORM
      OF CLASS B CERTIFICATE

     

    THIS
      CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES,
      [AND] [THE CLASS [_-B-_] CERTIFICATES][,] [AND] [THE CLASS [_-B-_]
      CERTIFICATES][,] [AND] [THE CLASS [_-B-_] CERTIFICATES][,] [AND] [THE CLASS
      [_B-[_] CERTIFICATES][,] [AND] [THE CLASS [_-B-_] CERTIFICATES] AS DESCRIBED
      IN
      THE AGREEMENT (AS DEFINED BELOW).

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”). 

     

    THE
      CURRENT PRINCIPAL AMOUNT OF THIS CERTIFICATE WILL BE DECREASED BY THE PRINCIPAL
      PAYMENTS HEREON AND ANY REALIZED LOSSES ALLOCABLE HERETO. ACCORDINGLY, FOLLOWING
      THE INITIAL ISSUANCE OF THE CERTIFICATES, THE CURRENT PRINCIPAL AMOUNT OF THIS
      CERTIFICATE WILL BE DIFFERENT FROM THE DENOMINATION SHOWN BELOW. ANYONE
      ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT PRINCIPAL AMOUNT BY INQUIRY
      OF THE SECURITIES ADMINISTRATOR NAMED HEREIN.

     

    [FOR
      CLASS B-1, CLASS B-2 AND CLASS B-3] [UNLESS THIS CERTIFICATE IS PRESENTED BY
      AN
      AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE SECURITIES
      ADMINISTRATOR OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
      ANY CERTIFICATE ISSUED WILL BE REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
      OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
      COMPANY AND ANY PAYMENT WILL BE MADE TO CEDE & CO. ANY TRANSFER, PLEDGE OR
      OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE
      THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
      HEREIN.]

     

    [FOR
      CLASS B-1, CLASS B-2 AND CLASS B-3] [EACH BENEFICIAL OWNER OF THIS CERTIFICATE
      OR ANY INTEREST HEREIN SHALL BE DEEMED TO HAVE REPRESENTED, BY VIRTUE OF ITS
      ACQUISITION OR HOLDING OF THIS CERTIFICATE OR INTEREST HEREIN, THAT EITHER
      (I)
      IT IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT
      TO
      THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED OR SECTION
      4975
      OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (“PLAN”), OR INVESTING WITH
      ASSETS OF A PLAN OR (II) IT HAS ACQUIRED AND IS HOLDING SUCH CERTIFICATE IN
      RELIANCE ON PROHIBITED TRANSACTION EXEMPTION 90-30, AS AMENDED FROM TIME TO
      TIME
      (“EXEMPTION”), AND THAT IT UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE
      AVAILABILITY OF THE EXEMPTION, INCLUDING THAT THE CERTIFICATE MUST BE RATED,
      AT
      THE TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY STANDARD
& POOR’S, FITCH, INC. OR MOODY’S INVESTORS SERVICE, INC., AND THE
      CERTIFICATE IS SO RATED OR (III) (1) IT IS AN INSURANCE COMPANY, (2) THE SOURCE
      OF FUNDS USED TO ACQUIRE OR HOLD THE CERTIFICATE OR INTEREST HEREIN IS AN
“INSURANCE COMPANY GENERAL ACCOUNT”, AS SUCH TERM IS DEFINED IN PROHIBITED
      TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60, AND (3) THE CONDITIONS IN SECTIONS I
      AND III OF PTCE 95-60 HAVE BEEN SATISFIED.]

     

    [FOR
      CLASS B-1, CLASS B-2 AND CLASS B-3] [THIS CERTIFICATE HAS NOT BEEN AND WILL
      NOT
      BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS
      CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED
      OR
      OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER
      APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
      (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED
      INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR
      ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER
      HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
      IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM
      REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR
      (3)
      IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE
      MEANING THEREOF IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE
      ACT
      OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS
      PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT
      TO
      (A) THE RECEIPT BY THE TRUSTEE AND THE CERTIFICATE REGISTRAR OF A LETTER
      SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY
      THE
      TRUSTEE OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE TRUSTEE AND THE CERTIFICATE
      REGISTRAR THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH
      THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN EACH CASE IN ACCORDANCE
      WITH
      ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND ANY OTHER APPLICABLE
      JURISDICTION.]

     

    [FOR
      CLASS B-1, CLASS B-2 AND CLASS B-3] [THIS CERTIFICATE MAY NOT BE ACQUIRED
      DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER
      RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT
      INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE
      CODE OF 1986, AS AMENDED, UNLESS THE TRANSFEREE CERTIFIES OR REPRESENTS THAT
      THE
      PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE AND THE SERVICING, MANAGEMENT
      AND
      OPERATION OF THE TRUST AND ITS ASSETS: (I) WILL NOT RESULT IN ANY PROHIBITED
      TRANSACTION WHICH IS NOT COVERED UNDER AN INDIVIDUAL OR CLASS PROHIBITED
      TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED TO, PROHIBITED TRANSACTION
      EXEMPTION (“PTE”) 84-14, PTE 91-38, PTE 90-1, PTE 95-60 OR PTE 96-23 AND (II)
      WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR,
      THE SECURITIES ADMINISTRATOR, THE CERTIFICATE REGISTRAR, THE MASTER SERVICER
      OR
      THE TRUSTEE, WHICH WILL BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY
      CERTIFICATE OR A GLOBAL CERTIFICATE OR UNLESS THE OPINION SPECIFIED IN SECTION
      5.07 OF THE AGREEMENT IS PROVIDED.] 

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    
      	
              Certificate
                No. 1

            	
              Variable
                Pass-Through Rate

            
	 	 
	
              Class
                [_-B-_] Subordinate

            	 
	 	 
	
              Date
                of Pooling and Servicing Agreement 

              and
                Cut-off Date:

              May
                1, 2006

            	
              Aggregate
                Initial Current Principal Amount of this Subordinate Certificate
                as of the
                Cut-off Date: $[_________]

            
	 	 
	
              First
                Distribution Date:

              June
                26, 2006

            	
              Initial
                Current Principal Amount of this Subordinate Certificate as of the
                Cut-off
                Date: $[_________]

            
	 	 
	
              Master
                Servicer:

              Wells
                Fargo Bank, N.A.

            	
              CUSIP:
                [____________]

            
	 	 
	
              Assumed
                Final Distribution Date:

              July
                25, 2036

            	
               

            
	 	 

    

    BEAR
      STEARNS ARM TRUST 2006-2

    MORTGAGE
      PASS-THROUGH CERTIFICATE

    SERIES
      2006-2

     

    evidencing
      a fractional undivided interest in the distributions allocable to the Class
      [_-B-_] Certificates with respect to a Trust Fund consisting primarily of a
      pool
      of adjustable rate mortgage loans secured by first liens on one-to-four family
      residential properties sold by STRUCTURED ASSET MORTGAGE INVESTMENTS II
      INC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Structured Asset Mortgage Investments
      II Inc., the Master Servicer, the Securities Administrator or the Trustee
      referred to below or any of their affiliates or any other person. Neither this
      Certificate nor the underlying Mortgage Loans are guaranteed or insured by
      any
      governmental entity or by Structured Asset Mortgage Investments II Inc., the
      Master Servicer, the Securities Administrator or the Trustee or any of their
      affiliates or any other person. None of Structured Asset Mortgage Investments
      II
      Inc., the Master Servicer or any of their affiliates will have any obligation
      with respect to any certificate or other obligation secured by or payable from
      payments on the Certificates.

     

    This
      certifies that [_____________] is the registered owner of the Fractional
      Undivided Interest evidenced hereby in the beneficial ownership interest of
      Certificates of the same Class as this Certificate in a trust (the “Trust Fund”)
      primarily consisting of adjustable rate mortgage loans secured by first liens
      on
      one- to four- family residential properties (collectively, the “Mortgage Loans”)
      sold by Structured Asset Mortgage Investments II Inc. (“SAMI II”). The Mortgage
      Loans were sold by EMC Mortgage Corporation (“EMC”) to SAMI II. Wells Fargo
      Bank, N.A. (“Wells Fargo”) will act as master servicer and securities
      administrator of the Mortgage Loans (the “Master Servicer” and the “Securities
      Administrator”, which terms include any successors thereto under the Agreement
      referred to below). The Trust Fund was created pursuant to the Pooling and
      Servicing Agreement dated as of the Cut-off Date specified above (the
“Agreement”), among SAMI II as depositor (the “Depositor”), Wells Fargo as
      Master Servicer and securities administrator (in such capacity, the “Securities
      Administrator”), EMC as seller and U.S. Bank National Association as trustee
      (the “Trustee”), a summary of certain of the pertinent provisions of which is
      set forth hereafter. To the extent not defined herein, capitalized terms used
      herein shall have the meaning ascribed to them in the Agreement. This
      Certificate is issued under and is subject to the terms, provisions and
      conditions of the Agreement, to which Agreement the Holder of this Certificate
      by virtue of its acceptance hereof assents and by which such Holder is
      bound.

     

    Interest
      on this Certificate will accrue during the month prior to the month in which
      a
      Distribution Date (as hereinafter defined) occurs on the Current Principal
      Amount hereof at a per annum rate equal to the Pass-Through Rate as described
      in
      the Agreement. The Securities Administrator will distribute on the 25th day
      of
      each month, or, if such 25th day is not a Business Day, the immediately
      following Business Day (each, a “Distribution Date”), commencing on the First
      Distribution Date specified above, to the Person in whose name this Certificate
      is registered at the close of business on the last Business Day of the calendar
      month preceding the month of such Distribution Date, an amount equal to the
      product of the Fractional Undivided Interest evidenced by this Certificate
      and
      the amount (of interest and principal, if any) required to be distributed to
      the
      Holders of Certificates of the same Class as this Certificate. The Assumed
      Final
      Distribution Date is the Distribution Date in the month immediately following
      the month of the latest scheduled maturity date of any Mortgage Loan and is
      not
      likely to be the date on which the Current Principal Amount of this Class of
      Certificates will be reduced to zero.

     

    Distributions
      on this Certificate will be made by the Paying Agent by check mailed to the
      address of the Person entitled thereto as such name and address shall appear
      on
      the Certificate Register or, if such Person so requests by notifying the
      Securities Administrator in writing as specified in the Agreement by wire
      transfer. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Paying Agent of the pendency of such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Securities Administrator for that purpose
      and
      designated in such notice. The Initial Current Principal Amount of this
      Certificate is set forth above. The Current Principal Amount hereof will be
      reduced to the extent of distributions allocable to principal hereon and any
      Realized Losses allocable hereto.

     

    [For
      Class B-4, Class B-5 and Class B-6] [No transfer of this Class [_-B-_]
      Certificate will be made unless such transfer is (i) exempt from the
      registration requirements of the Securities act of 1933, as amended, and any
      applicable state securities laws or is made in accordance with said Act and
      laws
      and (ii) made in accordance with Section 5.02 of the Agreement. In the event
      that such transfer is to be made the Trustee shall register such transfer if,
      (i) made to a transferee who has provided the Trustee with evidence as to its
      QIB status; or (ii) (A) the transferor has advised the Trustee in writing that
      the Certificate is being transferred to an Institutional Accredited Investor
      and
      (B) prior to such transfer the transferee furnishes to the Trustee an Investment
      Letter; provided that if based upon an Opinion of Counsel to the effect that
      (A)
      and (B) above are not sufficient to confirm that such transfer is being made
      pursuant to an exemption from, or in a transaction not subject to, the
      registration requirements of the Securities Act and other applicable laws,
      the
      Trustee shall as a condition of the registration of any such transfer require
      the transferor to furnish such other certifications, legal opinions or other
      information prior to registering the transfer of this Certificate as shall
      be
      set forth in such Opinion of Counsel.]

     

    [For
      Class B-1, Class B-2 and Class B-3] [Each beneficial owner of this Certificate
      or any interest herein shall be deemed to have represented, by virtue of its
      acquisition or holding of this certificate or interest herein, that either
      (i)
      it is not a Plan or investing with assets of a Plan or (ii) it has acquired
      and
      is holding such certificate in reliance on Prohibited Transaction Exemption
      90-30, as amended from time to time (“Exemption”), and that it understands that
      there are certain conditions to the availability of the Exemption, including
      that the certificate must be rated, at the time of purchase, not lower than
      “BBB-” (or its equivalent) by Standard & Poor’s, Fitch, Inc. or Moody’s
      Investors Service, Inc., and the certificate is so rated or (iii) (1) it is
      an
      insurance company, (2) the source of funds used to acquire or hold the
      certificate or interest therein is an “insurance company general account”, as
      such term is defined in Prohibited Transaction Class Exemption (“PTCE”) 95-60,
      and (3) the conditions in Sections I and III of PTCE 95-60 have been
      satisfied.]

     

    [For
      Class B-3, Class B-4 and Class B-6] [This Certificate may not be acquired
      directly or indirectly by, or on behalf of, an employee benefit plan or other
      retirement arrangement which is subject to Title I of the Employee Retirement
      Income Security Act of 1974, as amended, or Section 4975 of the Internal Revenue
      Code of 1986, as amended, unless the transferee certifies or represents that
      the
      proposed transfer and holding of a Certificate and the servicing, management
      and
      operation of the trust and its assets: (i) will not result in any prohibited
      transaction which is not covered under an individual or class prohibited
      transaction exemption, including, but not limited to, Prohibited Transaction
      Exemption (“PTE”) 84-14, PTE 91-38, PTE 90-1, PTE 95-60 or PTE 96-23 and (ii)
      will not give rise to any additional obligations on the part of the Depositor,
      the Securities Administrator, the Master Servicer or the Trustee, which will
      be
      deemed represented by an owner of a Book-Entry Certificate or a Global
      Certificate or unless the opinion specified in section 5.07 of the Agreement
      is
      provided.]

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”), issued in twenty Classes.
      The Certificates, in the aggregate, evidence the entire beneficial ownership
      interest in the Trust Fund formed pursuant to the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders for any amount payable under this Certificate
      or the Agreement or, except as expressly provided in the Agreement, subject
      to
      any liability under the Agreement.

     

    This
      Certificate does not purport to summarize the Agreement and reference is made
      to
      the Agreement for the interests, rights and limitations of rights, benefits,
      obligations and duties evidenced hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Master Servicer, the Securities Administrator and the Trustee and the rights
      of
      the Certificateholders under the Agreement from time to time by the parties
      thereto with the consent of the Holders of Certificates, evidencing Fractional
      Undivided Interests aggregating not less than 51% of the Trust Fund (or in
      certain cases, Holders of Certificates of affected Classes evidencing such
      percentage of the Fractional Undivided Interests thereof). Any such consent
      by
      the Holder of this Certificate shall be conclusive and binding on such Holder
      and upon all future Holders of this Certificate and of any Certificate issued
      upon the transfer hereof or in lieu hereof whether or not notation of such
      consent is made upon this Certificate. The Agreement also permits the amendment
      thereof, in certain limited circumstances, without the consent of the Holders
      of
      any of the Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Certificate Registrar
      upon surrender of this Certificate for registration of transfer at the offices
      or agencies maintained by the Securities Administrator for such purposes, duly
      endorsed by, or accompanied by a written instrument of transfer in form
      satisfactory to the Securities Administrator duly executed by the Holder hereof
      or such Holder’s attorney duly authorized in writing, and thereupon one or more
      new Certificates in authorized denominations representing a like aggregate
      Fractional Undivided Interest will be issued to the designated
      transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Fractional Undivided Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Securities Administrator may require payment of a sum
      sufficient to cover any tax or other governmental charge payable in connection
      therewith. The Depositor, the Master Servicer, the Securities Administrator,
      the
      Trustee and any agent of any of them may treat the Person in whose name this
      Certificate is registered as the owner hereof for all purposes, and none of
      the
      Depositor, the Master Servicer, the Securities Administrator, the Trustee or
      any
      such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of the (A) final payment or other liquidation (or Advance with respect thereto)
      of the last Mortgage Loan remaining in the Trust Fund and (B) disposition of
      all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and the remittance of all funds due under the Agreement, or (ii)
      the optional repurchase by the party named in the Agreement of all the Mortgage
      Loans and other assets of the Trust Fund in accordance with the terms of the
      Agreement. Such optional repurchase may be made only on or after the
      Distribution Date on which the aggregate unpaid principal balance of the
      Mortgage Loans is less than the percentage of the aggregate Outstanding
      Principal Balance specified in the Agreement of the Mortgage Loans at the
      Cut-off Date. The exercise of such right will effect the early retirement of
      the
      Certificates. In no event, however, will the Trust Fund created by the Agreement
      continue beyond the expiration of 21 years after the death of certain persons
      identified in the Agreement.

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Securities Administrator by manual signature, this Certificate shall not be
      entitled to any benefit under the Agreement, or be valid for any
      purpose.

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF, the Securities Administrator has caused this Certificate to
      be
      duly executed.

     

    
      	
              Dated:
                May 31, 2006

            	 	
              WELLS
                FARGO BANK, N.A.

              Not
                in its individual capacity but solely as Securities
                Administrator

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

     

    This
      is
      one of the Class [_-B-_] Certificates referred to in the within-mentioned
      Agreement.

     

    
      	 	 	 	 	 	 	 	
              WELLS
                FARGO BANK, N.A.

              Authorized
                signatory of Wells Fargo Bank, N.A., not in its individual capacity
                but
                solely as Securities Administrator

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    ASSIGNMENT

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
      __________________________________ (Please print or typewrite name and address
      including postal zip code of assignee) a Fractional Undivided Interest evidenced
      by the within Mortgage Pass-Through Certificate and hereby authorizes the
      transfer of registration of such interest to assignee on the Certificate
      Register of the Trust Fund.

     

    I
      (We)
      further direct the Certificate Registrar to issue a new Certificate of a like
      denomination and Class, to the above named assignee and deliver such Certificate
      to the following address:

     

    
      	 
	 
	 

    

    

     

    
      	
              Dated:

            	 
	 	
              Signature
                by or on behalf of assignor

            
	 	 
	 	 
	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of distribution:

     

    
      	
              Distributions
                shall be made, by wire transfer or otherwise, in immediately available
                

            
	
              funds
                to

            	 
	 
	
              for
                the account of

            	 
	
              account
                number

            	 	
              or,
                if mailed by check, to

            
	 
	
              Applicable
                statements should be mailed to

            	 
	 
	 
	
              This
                information is provided by

            	 
	
              assignee
                named above, or

            	 
	
              its
                agent.

            	 

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

    

    

    EXHIBIT
      A-3

     

    FORM
      OF CLASS R CERTIFICATE

     

    THIS
      CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A NON-UNITED STATES PERSON,
      A
      PUBLICLY TRADED PARTNERSHIP OR A DISQUALIFIED ORGANIZATION (AS DEFINED
      BELOW).

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” AS THOSE TERMS ARE DEFINED,
      RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986
      (THE “CODE”).

     

    THIS
      CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF,
      AN
      EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE
      I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION
      4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE PROPOSED
      TRANSFEREE PROVIDES THE SECURITIES ADMINISTRATOR WITH AN OPINION OF COUNSEL
      FOR
      THE BENEFIT OF THE DEPOSITOR, THE TRUSTEE, THE MASTER SERVICER, THE CERTIFICATE
      REGISTRAR AND THE SECURITIES ADMINISTRATOR AND ON WHICH THEY MAY RELY (WHICH
      SHALL NOT BE AT THE EXPENSE OF THE TRUSTEE) WHICH IS ACCEPTABLE TO THE TRUSTEE,
      THAT THE PURCHASE OF THIS CERTIFICATE WILL NOT RESULT IN OR CONSTITUTE A
      NONEXEMPT PROHIBITED TRANSACTION, IS PERMISSIBLE UNDER APPLICABLE LAW AND WILL
      NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE SELLER, THE
      MASTER SERVICER, ANY SERVICER, THE CERTIFICATE REGISTRAR, THE SECURITIES
      ADMINISTRATOR OR THE TRUSTEE.

     

    ANY
      RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
      IF
      THE PROPOSED TRANSFEREE OBTAINS THE PRIOR WRITTEN CONSENT OF STRUCTURED ASSET
      MORTGAGE INVESTMENTS II INC. AND THE SECURITIES ADMINISTRATOR AND PROVIDES
      A
      TRANSFER AFFIDAVIT TO STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., THE
      SECURITIES ADMINISTRATOR AND THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT (A)
      THE
      UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY FOREIGN
      GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY
      OF
      ANY OF THE FOREGOING, (B) ANY ORGANIZATION (OTHER THAN A COOPERATIVE DESCRIBED
      IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER
      1 OF
      THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION
      511
      OF THE CODE, (C) ANY ORGANIZATION DESCRIBED IN SECTION 1381(A)(2)(C) OF THE
      CODE, (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B) OR (C) BEING
      HEREIN REFERRED TO AS A “DISQUALIFIED ORGANIZATION”) OR (D) AN AGENT OF A
      DISQUALIFIED ORGANIZATION, (2) NO PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE
      ASSESSMENT OR COLLECTION OF TAX AND (3) SUCH TRANSFEREE SATISFIES CERTAIN
      ADDITIONAL CONDITIONS RELATING TO THE FINANCIAL CONDITION OF THE PROPOSED
      TRANSFEREE. NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OR
      ANY
      TRANSFER, SALE OR OTHER DISPOSITION OF THIS CERTIFICATE TO A DISQUALIFIED
      ORGANIZATION OR AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION
      SHALL
      BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL
      NOT
      BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT
      NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER
      OF
      THIS CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE
      CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    
      	
              Certificate
                No. 1

            	 
	 	 
	
              Class
                R-[_] 

            	 
	 	 
	
              Date
                of Pooling and Servicing Agreement 

              and
                Cut-off Date:

              May
                1, 2006

            	
              Aggregate
                Initial Current Principal Amount of this Certificate as of the Cut-off
                Date:

              $___________

            
	 	 
	
              First
                Distribution Date:

              June
                26, 2006

            	
              Initial
                Current Principal Amount of this Certificate as of the Cut-off Date:
                $_________

            
	 	 
	
              Master
                Servicer:

              Wells
                Fargo Bank, N.A.

            	
              CUSIP:
                [_____________]

            
	 	 
	
              Assumed
                Final Distribution Date:

              July
                25, 2036

            	 
	 	 

    

    BEAR
      STEARNS ARM TRUST 2006-2

    MORTGAGE
      PASS-THROUGH CERTIFICATE

    SERIES
      2006-2

     

    evidencing
      a fractional undivided interest in the distributions allocable to the Class
      R-[_] Certificates with respect to a Trust Fund consisting primarily of a pool
      of adjustable rate mortgage loans secured by first liens on one-to-four family
      residential properties sold by STRUCTURED ASSET MORTGAGE INVESTMENTS II
      INC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Structured Asset Mortgage Investments
      II Inc., the Master Servicer or the Trustee referred to below or any of their
      affiliates or any other person. Neither this Certificate nor the underlying
      Mortgage Loans are guaranteed or insured by any governmental entity or by
      Structured Asset Mortgage Investments II Inc., the Master Servicer or the
      Trustee or any of their affiliates or any other person. None of Structured
      Asset
      Mortgage Investments II Inc., the Master Servicer or any of their affiliates
      will have any obligation with respect to any certificate or other obligation
      secured by or payable from payments on the Certificates.

     

    This
      certifies that [_____________] is the registered owner of the Fractional
      Undivided Interest evidenced hereby in the beneficial ownership interest of
      Certificates of the same Class as this Certificate in a trust (the “Trust Fund”)
      primarily consisting of adjustable rate mortgage loans secured by first liens
      on
      one- to four- family residential properties (collectively, the “Mortgage Loans”)
      sold by Structured Asset Mortgage Investments II Inc. (“SAMI II”). The Mortgage
      Loans were sold by EMC Mortgage Corporation (“EMC”) to SAMI II. Wells Fargo
      Bank, N.A. (“Wells Fargo”) will act as master servicer and the securities
      administrator of the Mortgage Loans (the “Master Servicer” and the “Securities
      Administrator”, which terms include any successors thereto under the Agreement
      referred to below). The Trust Fund was created pursuant to the Pooling and
      Servicing Agreement dated as of the Cut-off Date specified above (the
“Agreement”), among SAMI II as depositor (the “Depositor”), Wells Fargo as
      Master Servicer and securities administrator (in such capacity, the “Securities
      Administrator”), EMC as seller and U.S. Bank National Association as trustee
      (the “Trustee”), a summary of certain of the pertinent provisions of which is
      set forth hereafter. To the extent not defined herein, capitalized terms used
      herein shall have the meaning ascribed to them in the Agreement. This
      Certificate is issued under and is subject to the terms, provisions and
      conditions of the Agreement, to which Agreement the Holder of this Certificate
      by virtue of its acceptance hereof assents and by which such Holder is
      bound.

     

    The
      Securities Administrator will distribute on the 25th day of each month, or,
      if
      such 25th day is not a Business Day, the immediately following Business Day
      (each, a “Distribution Date”), commencing on the First Distribution Date
      specified above, to the Person in whose name this Certificate is registered
      at
      the close of business on the last Business Day of the calendar month preceding
      the month of such Distribution Date, an amount equal to the product of the
      Fractional Undivided Interest evidenced by this Certificate and the amount
      (of
      principal, if any) required to be distributed to the Holders of Certificates
      of
      the same Class as this Certificate. The Assumed Final Distribution Date is
      the
      Distribution Date in the month immediately following the month of the latest
      scheduled maturity date of any Mortgage Loan and is not likely to be the date
      on
      which the Current Principal Amount of this Class of Certificates will be reduced
      to zero.

     

    Distributions
      on this Certificate will be made by the Paying Agent by check mailed to the
      address of the Person entitled thereto as such name and address shall appear
      on
      the Certificate Register or, if such Person so requests by notifying the
      Securities Administrator in writing as specified in the Agreement by wire
      transfer. Notwithstanding the above, the final distribution on this Certificate
      will be made after due notice by the Paying Agent of the pendency of such
      distribution and only upon presentation and surrender of this Certificate at
      the
      office or agency appointed by the Securities Administrator for that purpose
      and
      designated in such notice. The Initial Current Principal Amount of this
      Certificate is set forth above. The Current Principal Amount hereof will be
      reduced to the extent of distributions allocable to principal hereon and any
      Realized Losses allocable hereto.

     

    Each
      Holder of this Certificate will be deemed to have agreed to be bound by the
      restrictions set forth in the Agreement to the effect that (i) each person
      holding or acquiring any Ownership Interest in this Certificate must be a United
      States Person and a Permitted Transferee, (ii) the transfer of any Ownership
      Interest in this Certificate will be conditioned upon the delivery to SAMI
      II,
      the Trustee and the Securities Administrator of, among other things, an
      affidavit to the effect that it is a United States Person and Permitted
      Transferee, (iii) any attempted or purported transfer of any Ownership Interest
      in this Certificate in violation of such restrictions will be absolutely null
      and void and will vest no rights in the purported transferee, and (iv) if any
      person other than a United States Person and a Permitted Transferee acquires
      any
      Ownership Interest in this Certificate in violation of such restrictions, then
      the Depositor will have the right, in its sole discretion and without notice
      to
      the Holder of this Certificate, to sell this Certificate to a purchaser selected
      by the Depositor, which purchaser may be the Depositor, or any affiliate of
      the
      Depositor, on such terms and conditions as the Depositor may
      choose.

     

    This
      certificate may not be acquired directly or indirectly by, or on behalf of,
      an
      employee benefit plan or other retirement arrangement which is subject to Title
      I of the Employee Retirement Income Security Act of 1974, as amended, or section
      4975 of the Internal Revenue Code of 1986, as amended, unless the proposed
      transferee provides the Trustee with an opinion of counsel for the benefit
      of
      the Depositor, Master Servicer and the Securities Administrator and on which
      they may rely (which shall not be at the expense of the Trustee) which is
      acceptable to the Trustee, that the purchase of this Certificate will not result
      in or constitute a nonexempt prohibited transaction, is permissible under
      applicable law and will not give rise to any additional obligations on the
      part
      of the Seller, the Master Servicer, any Servicer, the Securities Administrator
      or the Trustee.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”), issued in twenty Classes.
      The Certificates, in the aggregate, evidence the entire beneficial ownership
      interest in the Trust Fund formed pursuant to the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders for any amount payable under this Certificate
      or the Agreement or, except as expressly provided in the Agreement, subject
      to
      any liability under the Agreement.

     

    This
      Certificate does not purport to summarize the Agreement and reference is made
      to
      the Agreement for the interests, rights and limitations of rights, benefits,
      obligations and duties evidenced hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor,
      the
      Master Servicer, the Securities Administrator and the Trustee and the rights
      of
      the Certificateholders under the Agreement from time to time by the parties
      thereto with the consent of the Holders of Certificates, evidencing Fractional
      Undivided Interests aggregating not less than 51% of the Trust Fund (or in
      certain cases, Holders of Certificates of affected Classes evidencing such
      percentage of the Fractional Undivided Interests thereof). Any such consent
      by
      the Holder of this Certificate shall be conclusive and binding on such Holder
      and upon all future Holders of this Certificate and of any Certificate issued
      upon the transfer hereof or in lieu hereof whether or not notation of such
      consent is made upon this Certificate. The Agreement also permits the amendment
      thereof, in certain limited circumstances, without the consent of the Holders
      of
      any of the Certificates.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Certificate Registrar
      upon surrender of this Certificate for registration of transfer at the offices
      or agencies maintained by the Securities Administrator for such purposes, duly
      endorsed by, or accompanied by a written instrument of transfer in form
      satisfactory to the Securities Administrator duly executed by the Holder hereof
      or such Holder’s attorney duly authorized in writing, and thereupon one or more
      new Certificates in authorized denominations representing a like aggregate
      Fractional Undivided Interest will be issued to the designated
      transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Fractional Undivided Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Securities Administrator may require payment of a sum
      sufficient to cover any tax or other governmental charge payable in connection
      therewith. The Depositor, the Master Servicer, the Securities Administrator,
      the
      Trustee and any agent of any of them may treat the Person in whose name this
      Certificate is registered as the owner hereof for all purposes, and none of
      the
      Depositor, the Master Servicer, the Securities Administrator, the Trustee or
      any
      such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of the (A) final payment or other liquidation (or Advance with respect thereto)
      of the last Mortgage Loan remaining in the Trust Fund and (B) disposition of
      all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and the remittance of all funds due under the Agreement, or (ii)
      the optional repurchase by the party named in the Agreement of all the Mortgage
      Loans and other assets of the Trust Fund in accordance with the terms of the
      Agreement. Such optional repurchase may be made only on or after the
      Distribution Date on which the aggregate unpaid principal balance of the
      Mortgage Loans is less than the percentage of the aggregate Outstanding
      Principal Balance specified in the Agreement of the Mortgage Loans at the
      Cut-off Date. The exercise of such right will effect the early retirement of
      the
      Certificates. In no event, however, will the Trust Fund created by the Agreement
      continue beyond the expiration of 21 years after the death of certain persons
      identified in the Agreement.

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Securities Administrator by manual signature, this Certificate shall not be
      entitled to any benefit under the Agreement, or be valid for any
      purpose.

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF, the Securities Administrator has caused this Certificate to
      be
      duly executed.

     

    
      	
              Dated:
                May 31, 2006

            	 	
              WELLS
                FARGO BANK, N.A.

              Not
                in its individual capacity but solely as Securities
                Administrator

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

     

    This
      is
      one of the Class R-[_] Certificates referred to in the within-mentioned
      Agreement.

    
      	 	 	 	 	 	 	 	
              WELLS
                FARGO BANK, N.A.

              Authorized
                signatory of Wells Fargo Bank, N.A., not in its individual capacity
                but
                solely as Securities Administrator

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    ASSIGNMENT

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
      __________________________________ (Please print or typewrite name and address
      including postal zip code of assignee) a Fractional Undivided Interest evidenced
      by the within Mortgage Pass-Through Certificate and hereby authorizes the
      transfer of registration of such interest to assignee on the Certificate
      Register of the Trust Fund.

     

    I
      (We)
      further direct the Certificate Registrar to issue a new Certificate of a like
      denomination and Class, to the above named assignee and deliver such Certificate
      to the following address:

     

    
      	 
	 
	 

    

    

     

    
      	
              Dated:

            	 
	 	
              Signature
                by or on behalf of assignor

            
	 	 
	 	 
	 	
              Signature
                Guaranteed

            

    

    

    DISTRIBUTION
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of distribution:

     

    
      	
              Distributions
                shall be made, by wire transfer or otherwise, in immediately available
                

            
	
              funds
                to

            	 
	 
	
              for
                the account of

            	 
	
              account
                number

            	 	
              or,
                if mailed by check, to

            
	 
	
              Applicable
                statements should be mailed to

            	 
	 
	 
	
              This
                information is provided by

            	 
	
              assignee
                named above, or

            	 
	
              its
                agent.

            	 

    

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

    

    

    EXHIBIT
      B

     

    MORTGAGE
      LOAN SCHEDULE

     

                LOAN_SEQ                           CURRENT_BALANCE                 PAYMENT                                   STATED_ORIGINAL_TERM                          STATED_REM_TERM                          CURRENT_NET_COUPON           LPMI
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
           16046700                                  223500                    1210.63                                            360                                      357                                        6.125                    0
           16046701                                  130400                     692.75                                            360                                      357                                        6.125                    0
           16046702                                  525000                    2789.06                                            360                                      357                                        6.125                    0
           16046703                               199370.54                    1167.15                                            360                                      357                                          5.5                    0
           16046704                                  528000                       2640                                            360                                      356                                         5.75                    0
           16046705                                  161836                     792.32                                            360                                      356                                          5.5                    0
           16046706                                  449000                    2385.31                                            360                                      357                                        6.125                    0
           16046707                                  905000                    4430.73                                            360                                      357                                        5.625                    0
           16046708                                  635999                    3312.49                                            360                                      357                                            6                    0
           16046709                                  314121                    1537.88                                            360                                      357                                        5.625                    0
           16046710                                  174400                        872                                            360                                      357                                         5.75                    0
           16046712                                  195300                      976.5                                            360                                      357                                         5.75                    0
           16046713                                  487500                    2640.63                                            360                                      357                                         6.25                    0
           16046714                                  505000                    2682.81                                            360                                      356                                        6.125                    0
           16046715                               473956.25                    2468.52                                            360                                      357                                            6                    0
           16046482                               700495.53                     2991.7                                            360                                      352                                        4.875                    0
           16046498                               787771.54                     3856.8                                            360                                      355                                        5.625                    0
           16046505                                  344000                    1576.67                                            360                                      350                                         5.25                    0
           16046511                                  785000                       3925                                            360                                      356                                         5.75                    0
           16046514                               876943.65                    5707.67                                            360                                      356                                          6.5                    0
           16046521                                 1409600                     7488.5                                            360                                      355                                        6.125                    0
           16046541                                  447200                    2282.58                                            360                                      356                                        5.875                    0
           16046546                                  525000                    2898.44                                            360                                      356                                        6.375                    0
           16046550                                  570000                    3146.87                                            360                                      356                                        6.375                    0
           16046562                                  340016                    1664.66                                            360                                      355                                        5.625                    0
           16046570                                  260000                    1354.17                                            360                                      356                                            6                    0
           16046579                                  512000                    2613.33                                            360                                      356                                         5.75                    0
           16046587                                  856000                    4190.83                                            360                                      356                                        5.625                    0
           16046597                               201102.79                    1242.98                                            360                                      356                                            6                    0
           16046606                                  475000                    2325.52                                            360                                      356                                        5.625                    0
           16046615                                422584.7                    2070.71                                            360                                      356                                        5.625                    0
           16046618                                  669958                    3489.42                                            360                                      356                                        5.875                    0
           16046644                                  434000                    2305.63                                            360                                      356                                        6.125                    0
           16046645                               715874.29                    4196.54                                            360                                      356                                          5.5                    0
           16046646                               499389.21                    2653.09                                            360                                      352                                            6                    0
           16046648                               430213.86                       1927                                            360                                      354                                        5.125                    0
           16046649                                  559697                    2332.53                                            360                                      351                                         4.75                    0
           16046651                                  696400                    3917.25                                            360                                      357                                        6.375                    0
           16046655                                  562500                    2988.28                                            360                                      356                                        6.125                    0
           16046663                                 1304000                    6384.17                                            360                                      356                                        5.625                    0
           16046673                                  245600                    1125.67                                            360                                      348                                        5.125                    0
           16046675                                 2800000                   15166.67                                            360                                      356                                         6.25                    0
           16046682                                  350000                    1531.25                                            360                                      349                                            5                    0
           16046693                                  508000                    2645.83                                            360                                      356                                            6                    0
           16046698                              1697402.62                    7602.95                                            360                                      356                                        5.125                    0
           16046711                                  660000                       3025                                            360                                      352                                         5.25                    0
           16046720                                  480000                       2450                                            360                                      356                                        5.875                    0
           16046729                                  323595                    1550.56                                            360                                      345                                          5.5                    0
           16046730                               559893.19                    2741.25                                            360                                      355                                        5.625                    0
           16046738                                  486000                    2075.62                                            360                                      344                                        4.875                    0
           16046747                               439999.79                    2154.17                                            360                                      356                                        5.625                    0
           16046763                                  438750                    2285.16                                            360                                      356                                            6                    0
           16046766                                  290500                    1513.02                                            360                                      351                                            6                    0
           16046767                                  525000                    2570.31                                            360                                      352                                        5.625                    0
           16046768                               295750.69                    1733.22                                            360                                      356                                          5.5                    0
           16046770                               258853.78                    1476.26                                            360                                      356                                         5.25                    0
           16046771                              1349201.97                     7729.8                                            360                                      355                                          6.5                    0
           16046773                                  206000                     944.17                                            360                                      350                                        5.125                    0
           16046779                                  275000                    1117.19                                            360                                      349                                        4.625                    0
           16046782                               549841.77                    2981.12                                            360                                      356                                         6.25                    0
           16046807                                  675924                    3802.07                                            360                                      355                                          6.5                    0
           16046815                                 1000000                     5312.5                                            360                                      356                                        6.125                    0
           16046821                               143951.51                     779.83                                            360                                      356                                         6.25                    0
           16046826                               334960.58                    1642.36                                            360                                      355                                        5.625                    0
           16046739                                  500000                    2447.92                                            360                                      357                                        5.625                    0
           16046740                                 1430000                    7596.88                                            360                                      357                                        6.125                    0
           16046741                                  432000                       2295                                            360                                      356                                        6.125                    0
           16046742                               483746.71                    2368.34                                            360                                      357                                        5.625                    0
           16046743                                  351970                       1870                                            360                                      357                                        6.125                    0
           16046744                               143557.38                     851.82                                            360                                      357                                        5.625                    0
           16046746                               207998.12                    1039.99                                            360                                      356                                         5.75                    0
           16046748                               970600.42                    5459.72                                            360                                      356                                        5.125                    0
           16046750                                  493100                    2362.77                                            360                                      356                                          5.5                    0
           16046751                                  220000                       1100                                            360                                      357                                         5.75                    0
           16046752                                  488000                       2440                                            360                                      356                                         5.75                    0
           16046753                                  496000                       2635                                            360                                      357                                        6.125                    0
           16046754                                  687629                    3509.77                                            360                                      356                                        5.875                    0
           16046755                                  450000                    2343.75                                            360                                      356                                            6                    0
           16046756                               225467.89                    1541.72                                            360                                      357                                            7                    0
           16046759                               211421.91                    1339.99                                            360                                      357                                         6.25                    0
           16046760                               717624.88                    4088.09                                            360                                      357                                         5.25                    0
           16046761                                  201400                    1153.85                                            360                                      357                                        6.625                    0
           16046762                                  109200                     523.25                                            360                                      357                                          5.5                    0
           16046764                               461954.46                    2634.55                                            360                                      356                                         5.25                    0
           16046765                                  259960                    1272.72                                            360                                      357                                        5.625                    0
           16046769                               647796.83                    4270.04                                            360                                      356                                        6.625                    0
           16046772                                  578694                       2894                                            360                                      357                                         5.75                    0
           16046774                                  520000                    2708.33                                            360                                      356                                            6                    0
           16046775                                  250000                    1406.25                                            360                                      357                                          6.5                    0
           16046776                                  550000                    2921.88                                            360                                      357                                            6                    0
           16046777                                  407550                    2250.02                                            360                                      357                                        6.375                    0
           16046778                               599599.87                    3122.92                                            360                                      357                                            6                    0
           16046780                                  417000                    2345.63                                            360                                      357                                        6.375                    0
           16046781                               396683.56                    2647.91                                            360                                      356                                         6.75                    0
           16046784                                  616800                     3212.5                                            360                                      357                                        5.875                    0
           16046785                                  565000                    3060.42                                            360                                      356                                         6.25                    0
           16046786                                 1840000                      10925                                            360                                      357                                         6.75                    0
           16046787                                  999000                    5099.06                                            360                                      357                                         5.75                    0
           16046788                                  104000                     563.33                                            360                                      357                                         6.25                    0
           16046789                                 1000000                    4895.83                                            360                                      356                                          5.5                    0
           16046790                                56687.18                     373.67                                            360                                      356                                        6.625                    0
           16046791                                  364000                       1820                                            360                                      357                                         5.75                    0
           16046792                               359999.76                       1650                                            360                                      357                                         5.25                    0
           16046793                                  725000                    3549.48                                            360                                      357                                        5.625                    0
           16046794                                  140000                      787.5                                            360                                      357                                          6.5                    0
           16046796                               609721.59                    3239.15                                            360                                      356                                        6.125                    0
           16046797                                  479600                    2497.92                                            360                                      357                                            6                    0
           16046798                               554439.52                    2829.95                                            360                                      356                                        5.875                    0
           16046799                                  163000                        815                                            360                                      357                                         5.75                    0
           16046800                                  650000                    3656.25                                            360                                      357                                          6.5                    0
           16046801                               997338.52                    6403.11                                            360                                      357                                        6.375                    0
           16046802                                  524600                    2568.35                                            360                                      357                                        5.625                    0
           16046803                               176141.54                    1087.65                                            360                                      357                                            6                    0
           16046804                                  368200                       1841                                            360                                      357                                         5.75                    0
           16046805                               121158.03                     694.31                                            360                                      357                                        6.625                    0
           16046806                               227565.12                    1161.53                                            360                                      357                                        5.875                    0
           16046808                               126780.39                     722.23                                            360                                      357                                        5.125                    0
           16046809                                  234000                    1145.62                                            360                                      357                                        5.625                    0
           16046810                               683832.56                    3347.93                                            360                                      356                                        5.625                    0
           16046811                               467885.96                    2144.96                                            360                                      357                                         5.25                    0
           16046812                                   84800                     432.83                                            360                                      357                                        5.875                    0
           16046813                                  178800                      819.5                                            360                                      357                                         5.25                    0
           16046814                                  700000                    3718.75                                            360                                      356                                        6.125                    0
           16046817                                  299920                    1562.08                                            360                                      357                                            6                    0
           16046818                                  489600                       2652                                            360                                      357                                         6.25                    0
           16046819                               181937.64                    1198.24                                            360                                      357                                        6.625                    0
           16046820                               238323.54                    2985.94                                            360                                      357                                        5.875                    0
           16046822                                  490000                    2807.29                                            360                                      357                                        6.625                    0
           16046823                                  265000                    1380.21                                            360                                      356                                            6                    0
           16046824                               598283.15                    3694.31                                            360                                      357                                            6                    0
           16046825                               348813.65                    2299.26                                            360                                      356                                        6.625                    0
           16046827                                  358376                    1754.55                                            360                                      356                                        5.625                    0
           16046716                                151487.4                     899.14                                            360                                      357                                        5.625                    0
           16046718                                  548000                    2854.17                                            360                                      357                                        5.875                    0
           16046719                                  850000                    4161.46                                            360                                      356                                        5.625                    0
           16046721                                  316000                    1744.58                                            360                                      357                                        6.375                    0
           16046722                               644387.75                    3827.53                                            360                                      356                                        5.625                    0
           16046723                                  606018                    3030.09                                            360                                      356                                         5.75                    0
           16046724                                  600000                     3312.5                                            360                                      357                                         6.25                    0
           16046725                                  112000                     641.67                                            360                                      357                                        6.625                    0
           16046726                               182450.72                    1097.18                                            360                                      357                                         5.75                    0
           16046727                                  194420                    1093.61                                            360                                      357                                          6.5                    0
           16046728                                  143200                      805.5                                            360                                      357                                          6.5                    0
           16046731                               558358.79                    3402.62                                            360                                      357                                        5.875                    0
           16046732                               110499.28                     655.67                                            360                                      357                                        5.625                    0
           16046733                                  665000                       3325                                            360                                      357                                         5.75                    0
           16046734                                  487000                    2536.46                                            360                                      357                                            6                    0
           16046736                                  500000                    2656.25                                            360                                      356                                        6.125                    0
           16046737                                  177600                        962                                            360                                      357                                         6.25                    0
           16046465                                  461783                    2357.02                                            360                                      356                                        5.875                    0
           16046466                                 1000000                       5000                                            360                                      356                                         5.75                    0
           16046467                               299999.22                    1468.75                                            360                                      356                                        5.625                    0
           16046468                                  228000                       1235                                            360                                      357                                         6.25                    0
           16046469                                  184720                    1000.57                                            360                                      356                                         6.25                    0
           16046470                               195503.14                    1287.59                                            360                                      357                                        6.625                    0
           16046471                                  368000                       1840                                            360                                      357                                         5.75                    0
           16046472                                   84000                     411.25                                            360                                      357                                          5.5                    0
           16046473                               469479.71                    2640.82                                            360                                      357                                        6.375                    0
           16046474                                  198351                     971.09                                            360                                      357                                        5.625                    0
           16046475                                44839.88                     288.14                                            360                                      356                                        6.375                    0
           16046476                               135159.66                     633.56                                            360                                      357                                        5.375                    0
           16046477                                498997.5                    2494.99                                            360                                      357                                         5.75                    0
           16046478                                  559400                    3088.35                                            360                                      356                                        6.375                    0
           16046479                               495674.96                    2220.21                                            360                                      356                                        5.125                    0
           16046480                                  600000                     3437.5                                            360                                      357                                        6.625                    0
           16046481                               244798.84                    1198.49                                            360                                      357                                        5.625                    0
           16046483                               423037.01                    2027.05                                            360                                      357                                          5.5                    0
           16046485                                  658000                    3221.46                                            360                                      357                                        5.625                    0
           16046486                               755626.35                    5039.67                                            360                                      357                                         6.75                    0
           16046487                                  299999                    1531.24                                            360                                      356                                        5.875                    0
           16046488                                  375500                    1994.84                                            360                                      356                                        6.125                    0
           16046489                               502121.57                    2562.91                                            360                                      357                                        5.875                    0
           16046491                                  370300                    1581.49                                            360                                      357                                        4.875                    0
           16046492                               131681.43                     889.31                                            360                                      357                                        6.875                    0
           16046493                                  750000                    3671.87                                            360                                      357                                        5.625                    0
           16046494                               206030.69                    1095.39                                            360                                      357                                        6.125                    0
           16046496                                  169600                     812.67                                            360                                      357                                          5.5                    0
           16046497                               459692.71                    2202.69                                            360                                      357                                          5.5                    0
           16046499                                  439800                    2244.81                                            360                                      356                                        5.875                    0
           16046500                               598587.32                    4093.06                                            360                                      357                                            7                    0
           16046501                                  171780                     912.58                                            360                                      357                                        6.125                    0
           16046502                               149610.36                      972.9                                            360                                      357                                          6.5                    0
           16046503                                  242000                    1184.79                                            360                                      357                                        5.625                    0
           16046506                               499999.73                    2760.42                                            360                                      356                                        6.375                    0
           16046507                               324069.83                    2001.09                                            360                                      357                                            6                    0
           16046508                                  460000                    2395.83                                            360                                      356                                            6                    0
           16046509                               242945.96                    1441.55                                            360                                      357                                        5.625                    0
           16046510                                  165000                     807.81                                            360                                      357                                          5.5                    0
           16046512                                  950000                    4947.92                                            360                                      357                                            6                    0
           16046513                               613696.11                    3739.85                                            360                                      357                                        5.875                    0
           16046515                                  266000                    1413.13                                            360                                      357                                        6.125                    0
           16046516                                  241500                    1308.13                                            360                                      357                                        6.125                    0
           16046517                                  399200                       1996                                            360                                      357                                         5.75                    0
           16046518                                  454934                     2132.5                                            360                                      357                                        5.375                    0
           16046519                                  128000                     666.67                                            360                                      357                                            6                    0
           16046520                               463792.14                    3015.99                                            360                                      357                                          6.5                    0
           16046522                                  524500                    2677.14                                            360                                      356                                        5.875                    0
           16046524                                  279920                    1166.33                                            360                                      356                                         4.75                    0
           16046643                                  910000                    4739.58                                            360                                      357                                        5.875                    0
           16046647                               194999.57                    1076.56                                            360                                      357                                        6.375                    0
           16046650                                  427500                    2404.69                                            360                                      357                                        6.375                    0
           16046652                                447935.4                    2239.68                                            360                                      357                                         5.75                    0
           16046653                               219178.41                    1372.52                                            360                                      356                                        6.125                    0
           16046654                                  596000                    3166.25                                            360                                      357                                        6.125                    0
           16046656                                  440000                       2200                                            360                                      357                                         5.75                    0
           16046657                               468114.36                    2817.89                                            360                                      356                                         5.75                    0
           16046658                                  483000                    2364.69                                            360                                      357                                        5.625                    0
           16046659                               581485.02                    3361.84                                            360                                      356                                        5.375                    0
           16046660                               507484.56                    2484.56                                            360                                      356                                        5.625                    0
           16046661                                  175920                     897.93                                            360                                      357                                        5.875                    0
           16046662                                   85600                     392.33                                            360                                      357                                         5.25                    0
           16046664                               248798.28                    1577.01                                            360                                      357                                         6.25                    0
           16046665                              1496031.91                    9728.98                                            360                                      357                                          6.5                    0
           16046666                                  543750                    2775.39                                            360                                      357                                        5.875                    0
           16046667                                  328000                     1537.5                                            360                                      357                                        5.375                    0
           16046669                                121683.1                     791.29                                            360                                      357                                          6.5                    0
           16046670                                  283920                    1390.02                                            360                                      357                                        5.625                    0
           16046671                                  395000                    2057.29                                            360                                      357                                            6                    0
           16046672                              1380677.43                    7191.03                                            360                                      356                                            6                    0
           16046674                                  529000                    2810.31                                            360                                      357                                        6.125                    0
           16046676                                  500500                    2450.36                                            360                                      357                                        5.625                    0
           16046678                                  151600                     694.83                                            360                                      357                                         5.25                    0
           16046679                               291084.68                    1797.41                                            360                                      357                                            6                    0
           16046680                               341894.49                    1958.77                                            360                                      357                                        6.625                    0
           16046683                               486220.94                     3084.5                                            360                                      356                                         6.25                    0
           16046684                               738488.32                    3692.44                                            360                                      357                                         5.75                    0
           16046685                                  408000                     1997.5                                            360                                      356                                        5.625                    0
           16046686                                  516000                     2687.5                                            360                                      356                                            6                    0
           16046687                               143607.34                     910.18                                            360                                      357                                         6.25                    0
           16046688                                  119920                      599.6                                            360                                      357                                         5.75                    0
           16046689                                  600000                     2937.5                                            360                                      357                                        5.625                    0
           16046690                                  457000                    2523.02                                            360                                      356                                        6.375                    0
           16046691                                63915.89                     411.24                                            360                                      357                                        6.375                    0
           16046692                               287155.95                    1749.92                                            360                                      357                                        5.875                    0
           16046694                                  480000                       2500                                            360                                      357                                        5.875                    0
           16046695                                  168435                     947.45                                            360                                      357                                          6.5                    0
           16046697                                  385000                    2005.21                                            360                                      356                                            6                    0
           16046699                                  199000                    1077.92                                            360                                      357                                         6.25                    0
           16046598                                 1365000                    7393.75                                            360                                      357                                         6.25                    0
           16046600                                   52800                        297                                            360                                      357                                          6.5                    0
           16046601                               729998.96                    3573.95                                            360                                      357                                        5.625                    0
           16046602                                  190000                    1048.96                                            360                                      357                                        6.375                    0
           16046603                               586396.67                    3716.56                                            360                                      357                                         6.25                    0
           16046604                                  800000                    3916.67                                            360                                      356                                        5.625                    0
           16046605                                  303750                    1360.55                                            360                                      356                                        5.125                    0
           16046607                                  554250                    2655.78                                            360                                      356                                          5.5                    0
           16046608                                  920000                    5079.17                                            360                                      357                                        6.375                    0
           16046609                               156956.66                     866.77                                            360                                      357                                        6.375                    0
           16046610                                  273829                     1312.1                                            360                                      357                                          5.5                    0
           16046612                                  582000                    3091.88                                            360                                      356                                            6                    0
           16046613                               215336.07                    1277.73                                            360                                      357                                        5.625                    0
           16046614                               170965.51                    1125.98                                            360                                      357                                        6.625                    0
           16046616                               157750.27                     854.51                                            360                                      357                                         6.25                    0
           16046617                                  955000                    4675.52                                            360                                      356                                        5.625                    0
           16046619                                  371296                    2011.19                                            360                                      357                                        6.125                    0
           16046620                                  467000                    2237.71                                            360                                      356                                          5.5                    0
           16046621                                  580000                    2597.92                                            360                                      356                                        5.125                    0
           16046622                                  300000                       1625                                            360                                      357                                         6.25                    0
           16046623                               460211.48                    3033.65                                            360                                      356                                        6.625                    0
           16046624                               247444.36                    1734.06                                            360                                      357                                         7.25                    0
           16046625                               399814.37                    1957.42                                            360                                      357                                        5.625                    0
           16046626                                  528000                       2750                                            360                                      356                                        5.875                    0
           16046627                               525830.17                    3123.32                                            360                                      356                                        5.625                    0
           16046628                                  149600                      654.5                                            360                                      357                                            5                    0
           16046629                                  580000                    2779.17                                            360                                      357                                          5.5                    0
           16046630                                  424000                    2296.67                                            360                                      356                                         6.25                    0
           16046631                                76526.71                     491.76                                            360                                      356                                        6.375                    0
           16046632                               231336.14                    1428.47                                            360                                      357                                            6                    0
           16046634                                  347956                    1884.76                                            360                                      357                                         6.25                    0
           16046635                                95725.31                     591.09                                            360                                      357                                            6                    0
           16046637                                  460000                    2395.83                                            360                                      357                                            6                    0
           16046638                               226395.83                    1453.51                                            360                                      357                                        6.375                    0
           16046639                                  204000                       1020                                            360                                      357                                         5.75                    0
           16046640                                  445000                    2271.35                                            360                                      357                                        5.875                    0
           16046641                               631181.56                    4081.99                                            360                                      356                                        6.375                    0
           16046642                                  256700                    1363.72                                            360                                      357                                        6.125                    0
           16046525                               434773.47                    2798.16                                            360                                      356                                        6.375                    0
           16046526                               143616.74                     922.05                                            360                                      357                                        6.375                    0
           16046527                               857418.72                    5156.14                                            360                                      357                                         5.75                    0
           16046528                               547896.17                    3386.45                                            360                                      356                                            6                    0
           16046529                                  412500                    2148.44                                            360                                      357                                        5.875                    0
           16046530                                  560000                       2800                                            360                                      356                                         5.75                    0
           16046531                               646397.17                    4311.17                                            360                                      357                                         6.75                    0
           16046532                               149570.78                     923.58                                            360                                      357                                            6                    0
           16046533                                478841.6                    3233.85                                            360                                      357                                        6.875                    0
           16046534                                  132000                      742.5                                            360                                      357                                        6.375                    0
           16046535                               191450.61                    1182.18                                            360                                      357                                            6                    0
           16046536                                  174400                     962.83                                            360                                      357                                        6.375                    0
           16046537                               249301.64                    1559.68                                            360                                      357                                        6.125                    0
           16046538                                  205000                    1046.35                                            360                                      356                                         5.75                    0
           16046540                               614917.67                    3459.14                                            360                                      357                                          6.5                    0
           16046542                                  520000                    2816.67                                            360                                      356                                         6.25                    0
           16046543                                  700000                    3645.83                                            360                                      356                                            6                    0
           16046544                               533874.15                    3083.22                                            360                                      357                                        5.375                    0
           16046545                                  144000                        750                                            360                                      356                                            6                    0
           16046547                               647101.67                     3168.1                                            360                                      357                                        5.625                    0
           16046548                               422562.86                    2785.38                                            360                                      356                                        6.625                    0
           16046549                                  200000                       1000                                            360                                      357                                         5.75                    0
           16046551                                  650000                    3317.71                                            360                                      357                                        5.875                    0
           16046553                                  500000                    2552.08                                            360                                      356                                        5.875                    0
           16046555                                  425144                    2805.09                                            360                                      357                                        6.625                    0
           16046557                                  204000                    1041.25                                            360                                      357                                        5.875                    0
           16046558                                  730000                    3573.96                                            360                                      357                                        5.625                    0
           16046559                                  684000                    3348.75                                            360                                      357                                        5.625                    0
           16046560                                87686.82                     563.48                                            360                                      356                                        6.375                    0
           16046561                                  250000                    1223.96                                            360                                      357                                          5.5                    0
           16046563                               532349.89                     2606.3                                            360                                      356                                        5.625                    0
           16046564                               478257.39                    2391.29                                            360                                      356                                         5.75                    0
           16046565                                  138400                     764.08                                            360                                      357                                        6.375                    0
           16046566                                69081.36                     377.54                                            360                                      357                                         6.25                    0
           16046567                                  447920                    2332.92                                            360                                      357                                            6                    0
           16046568                                  523500                     2617.5                                            360                                      356                                         5.75                    0
           16046572                               194265.15                    1168.23                                            360                                      357                                         5.75                    0
           16046573                                23732.06                     133.49                                            360                                      356                                        6.375                    0
           16046574                                  194000                    1010.42                                            360                                      357                                            6                    0
           16046575                                  650000                    3520.83                                            360                                      356                                         6.25                    0
           16046576                               232966.45                    1438.54                                            360                                      357                                            6                    0
           16046578                                  547000                    2905.94                                            360                                      356                                            6                    0
           16046580                               142976.52                     789.35                                            360                                      357                                        6.375                    0
           16046581                                  200208                      834.2                                            360                                      357                                         4.75                    0
           16046582                                  150000                     796.88                                            360                                      357                                        6.125                    0
           16046583                                  452712                    2169.25                                            360                                      357                                          5.5                    0
           16046584                                  649999                       3250                                            360                                      356                                         5.75                    0
           16046585                                  999000                    4890.94                                            360                                      356                                        5.625                    0
           16046588                               139589.68                     850.66                                            360                                      357                                        5.875                    0
           16046591                               198151.62                     990.76                                            360                                      356                                         5.75                    0
           16046592                                 2837324                   15073.28                                            360                                      356                                        6.125                    0
           16046593                               145891.17                     889.06                                            360                                      357                                        5.875                    0
           16046594                                  220400                    1124.96                                            360                                      357                                        5.875                    0
           16046595                                  748000                    3973.75                                            360                                      357                                        6.125                    0
           16046596                                  400000                    2166.67                                            360                                      357                                         6.25                    0
           16127503                               260677.56                    1541.75                                            360                                      356                                          5.5                    0
           16127504                               124262.55                     718.42                                            360                                      356                                        5.375                    0
           16127506                               163387.54                    1023.15                                            360                                      356                                        6.125                    0
           16127507                               163326.23                     970.13                                            360                                      356                                        5.625                    0
           16127508                               273787.69                    1561.42                                            360                                      356                                         5.25                    0
           16127509                               349624.88                    2132.72                                            360                                      356                                        5.875                    0
           16127510                               247260.61                    1486.92                                            360                                      357                                        5.625                    0
           16127511                                  350000                    1531.25                                            360                                      357                                            5                    0
           16127512                               192378.53                    1172.35                                            360                                      357                                        5.875                    0
           16127513                               289261.34                     1744.7                                            360                                      355                                         5.75                    0
           16127514                               155254.94                     840.96                                            360                                      356                                         6.25                    0
           16127515                               164832.21                     901.76                                            360                                      356                                         4.75                    0
           16127516                               162134.72                    1001.16                                            360                                      357                                            6                    0
           16127517                               113627.71                     690.69                                            360                                      347                                         5.75                    0
           16127518                               311062.73                     1870.6                                            360                                      357                                         5.75                    0
           16127519                               106617.02                     662.73                                            360                                      356                                            6                    0
           16127520                                  308000                    1636.25                                            360                                      356                                        6.125                    0
           16127521                                  604000                       3020                                            360                                      358                                         5.75                    0
           16127522                                  310000                    1356.25                                            360                                      357                                            5                    0
           16127523                                37662.16                     238.93                                            360                                      356                                         6.25                    0
           16127524                               262071.12                    1598.31                                            360                                      357                                        5.875                    0
           16127525                               110194.94                     744.87                                            360                                      357                                        5.875                    0
           16127526                               414659.52                    2394.74                                            360                                      357                                        5.375                    0
           16127527                                  296240                     1481.2                                            360                                      356                                         5.75                    0
           16127528                               136264.03                     831.22                                            360                                      356                                         5.75                    0
           16127529                                622999.8                     3179.9                                            360                                      356                                        5.875                    0
           16127530                               187910.77                    1160.32                                            360                                      357                                        5.875                    0
           16127532                                  650000                    3182.29                                            360                                      357                                        5.625                    0
           16127533                               141631.15                     921.01                                            360                                      357                                          6.5                    0
           16127534                                165317.3                     980.93                                            360                                      357                                        5.625                    0
           16127547                               189034.85                    1200.33                                            360                                      355                                        6.125                    0
           16127548                               315128.06                       1897                                            360                                      356                                         5.75                    0
           16127550                               118185.08                     664.42                                            360                                      345                                            5                    0
           16127551                               198222.27                    1130.47                                            360                                      356                                         5.25                    0
           16127552                               135516.01                     870.83                                            360                                      356                                        6.375                    0
           16127553                               355246.68                    1930.68                                            360                                      350                                         4.75                    0
           16127554                               181704.59                    1079.77                                            360                                      356                                        5.625                    0
           16127555                                  197763                     927.01                                            360                                      357                                        5.375                    0
           16127556                               397321.65                    2328.46                                            360                                      356                                          5.5                    0
           16127557                                355617.8                    2084.06                                            360                                      356                                          5.5                    0
           16127558                                205468.6                    1155.79                                            360                                      356                                        5.125                    0
           16127559                               163544.81                    1036.55                                            360                                      357                                         6.25                    0
           16127560                                53702.55                     340.69                                            360                                      356                                         6.25                    0
           16127561                               157173.42                    1027.09                                            360                                      356                                          5.5                    0
           16127562                               136128.32                     831.22                                            360                                      355                                        5.875                    0
           16127563                               398442.03                    2332.55                                            360                                      357                                          5.5                    0
           16127565                               118203.59                     767.43                                            360                                      356                                         5.75                    0
           16127566                               214372.23                    1207.25                                            360                                      355                                        5.125                    0
           16127567                                  292000                       1460                                            360                                      357                                         5.75                    0
           16127568                               154834.39                     883.03                                            360                                      356                                         5.25                    0
           16127569                                60922.06                     376.55                                            360                                      356                                            6                    0
           16127570                               201887.15                    1199.17                                            360                                      356                                        5.625                    0
           16127571                               298906.31                    1896.21                                            360                                      356                                         6.25                    0
           16127572                               242151.15                    1477.14                                            360                                      356                                         5.75                    0
           16127573                               309091.45                     1883.6                                            360                                      357                                        5.875                    0
           16127574                               140029.26                     854.18                                            360                                      356                                        5.875                    0
           16127575                                89660.72                     575.64                                            360                                      357                                        6.375                    0
           16127576                               214354.66                    1289.04                                            360                                      357                                         5.75                    0
           16127577                               305966.13                    1497.96                                            360                                      355                                        5.625                    0
           16127578                                  223920                    1096.27                                            360                                      357                                        5.625                    0
           16127541                               288808.61                    1715.46                                            360                                      356                                          5.5                    0
           16127542                                  273132                     1223.4                                            360                                      356                                        5.125                    0
           16127543                                  166680                     799.63                                            360                                      357                                          5.5                    0
           16127544                               172143.59                    1015.42                                            360                                      350                                          5.5                    0
           16127545                                223252.1                     1271.8                                            360                                      357                                         5.25                    0
           16127546                                83654.88                      496.9                                            360                                      356                                        5.625                    0
           16127535                               259181.69                    1517.29                                            360                                      357                                          5.5                    0
           16127536                                  331200                     1621.5                                            360                                      358                                        5.625                    0
           16127537                               105829.31                     688.82                                            360                                      356                                          6.5                    0
           16127538                               129478.42                     779.42                                            360                                      356                                         5.75                    0
           16127539                                 49232.2                     289.46                                            360                                      353                                          5.5                    0
           16127540                               183056.05                    1071.64                                            360                                      357                                          5.5                    0
           16127499                               367909.48                    1996.98                                            360                                      351                                         4.75                    0
           16127500                                 47722.7                     568.65                                            120                                      115                                            5                    0
           16127501                               151309.54                      874.8                                            360                                      356                                        5.375                    0
           16127502                               124435.94                     699.97                                            360                                      356                                            5                    0
           16048088                                  510000                    2815.63                                            360                                      357                                        6.375                    0
           16047971                               437989.49                     2781.1                                            360                                      355                                         6.25                    0
           16047977                               490118.04                    3029.33                                            360                                      356                                            6                    0
           16047989                                  650000                    3385.42                                            360                                      356                                            6                    0
           16047990                               469967.36                     2717.1                                            360                                      356                                        5.375                    0
           16047991                                  495900                    2582.81                                            360                                      356                                            6                    0
           16047992                               603023.68                    3767.19                                            360                                      356                                        5.875                    0
           16047994                                  441200                    2389.83                                            360                                      356                                         6.25                    0
           16048002                                  751784                    3915.54                                            360                                      356                                            6                    0
           16048004                                  492000                    2203.75                                            360                                      353                                        5.125                    0
           16048006                               620822.55                    3298.12                                            360                                      356                                        6.125                    0
           16048008                                  421952                    2197.67                                            360                                      356                                            6                    0
           16048012                               487329.03                    2853.67                                            360                                      357                                          5.5                    0
           16048014                                  650000                    3927.08                                            360                                      357                                            7                    0
           16048015                                  547900                    2910.72                                            360                                      356                                        6.125                    0
           16048018                                  650000                    3520.83                                            360                                      357                                         6.25                    0
           16048019                                  724541                    3698.18                                            360                                      357                                        5.875                    0
           16048020                               869006.31                    5365.98                                            360                                      357                                            6                    0
           16048021                                  516740                    2745.18                                            360                                      356                                        6.125                    0
           16048024                                  750000                    4218.75                                            360                                      356                                          6.5                    0
           16048033                                  580000                    2960.42                                            360                                      355                                        5.875                    0
           16048037                                  602250                    3262.19                                            360                                      357                                         6.25                    0
           16048045                               471556.28                    2308.66                                            360                                      357                                        5.625                    0
           16048046                                  650000                    3385.42                                            360                                      357                                            6                    0
           16048048                                  768000                       4800                                            360                                      357                                         7.25                    0
           16048049                               851272.45                    5395.33                                            360                                      357                                         6.25                    0
           16048050                                  540000                       2925                                            360                                      357                                         6.25                    0
           16048068                                  563200                    2522.67                                            360                                      357                                        5.125                    0
           16048082                                  471000                    2845.63                                            360                                      358                                            7                    0
           16047965                                  600384                     2501.6                                            360                                      357                                         4.75                    0
           16047967                               299761.79                    1719.27                                            360                                      351                                         5.25                    0
           16047968                                  444800                       1946                                            360                                      353                                            5                    0
           16047970                                  485000                    2374.48                                            360                                      356                                        5.625                    0
           16047972                                  455000                    2369.79                                            360                                      356                                            6                    0
           16047973                                  480000                       2450                                            360                                      356                                        5.875                    0
           16047976                                  428215                    2230.29                                            360                                      357                                            6                    0
           16047978                               995891.76                    5915.38                                            360                                      356                                        5.625                    0
           16047980                               501916.19                     2457.3                                            360                                      357                                        5.625                    0
           16047983                                  516777                    2583.89                                            360                                      357                                         5.75                    0
           16047984                                  516105                    2688.05                                            360                                      357                                            6                    0
           16047985                                  940000                    5385.42                                            360                                      357                                        6.625                    0
           16047987                                  452950                    2359.11                                            360                                      357                                            6                    0
           16047988                                  940000                    5385.42                                            360                                      356                                        6.625                    0
           16047993                                  480000                       2550                                            360                                      356                                        6.125                    0
           16047995                                  602000                    3323.54                                            360                                      357                                        6.375                    0
           16047996                               533324.46                    3041.57                                            360                                      356                                         5.25                    0
           16047997                                  442515                    2811.81                                            360                                      356                                        7.375                    0
           16047998                               796554.83                    4605.26                                            360                                      356                                        5.375                    0
           16047999                                  543120                    2319.58                                            360                                      356                                        4.875                    0
           16048000                                  588000                    3368.75                                            360                                      356                                        6.625                    0
           16048001                                  476000                    2627.92                                            360                                      356                                        6.375                    0
           16048003                                  431900                    1979.54                                            360                                      357                                         5.25                    0
           16048005                                577701.3                    3129.22                                            360                                      356                                         6.25                    0
           16048007                                  462300                    2263.34                                            360                                      356                                        5.625                    0
           16048009                               629794.42                     3608.2                                            360                                      357                                        6.625                    0
           16048010                                  438200                    2373.58                                            360                                      356                                         6.25                    0
           16048011                                  448000                    2193.33                                            360                                      357                                        5.625                    0
           16048013                                  640000                    3266.67                                            360                                      357                                        5.875                    0
           16048016                                  535000                    1894.79                                            360                                      354                                            4                    0
           16048017                                  864500                     4322.5                                            360                                      357                                         5.75                    0
           16048022                                  563200                    2757.33                                            360                                      357                                        5.625                    0
           16048023                               518647.59                    3253.46                                            360                                      357                                        5.625                    0
           16048025                                  661800                    3377.94                                            360                                      356                                        5.875                    0
           16048027                                  431550                    2022.89                                            360                                      353                                        5.375                    0
           16048028                               537390.64                    3318.72                                            360                                      357                                            6                    0
           16048029                                  497000                    2640.31                                            360                                      357                                        6.125                    0
           16048030                               917238.66                    5515.86                                            360                                      357                                         5.75                    0
           16048031                                  649960                     3317.5                                            360                                      357                                        5.875                    0
           16048032                                  467050                    2531.21                                            360                                      357                                         6.25                    0
           16048034                                  665000                    3463.54                                            360                                      357                                            6                    0
           16048035                               671825.28                    4094.08                                            360                                      357                                        5.875                    0
           16048036                                  431069                    2200.25                                            360                                      358                                        5.875                    0
           16048039                                  456000                       2375                                            360                                      357                                            6                    0
           16048040                               459818.39                    1724.65                                            360                                      357                                         4.25                    0
           16048041                                  540036                    2643.93                                            360                                      357                                        5.625                    0
           16048042                                  547687                    2687.81                                            360                                      357                                        5.625                    0
           16048043                               506401.22                    2964.55                                            360                                      357                                          5.5                    0
           16048044                               558278.77                    3312.61                                            360                                      357                                        5.625                    0
           16048047                                  800000                    4583.33                                            360                                      357                                        6.625                    0
           16048051                                  999999                    4895.83                                            360                                      357                                        5.625                    0
           16048052                                  421200                    2062.13                                            360                                      357                                        5.135                 0.49
           16048053                                  827000                    4307.29                                            360                                      358                                            6                    0
           16048054                               452390.16                    2404.27                                            360                                      358                                        6.125                    0
           16048055                                  524900                    2460.94                                            360                                      358                                        5.375                    0
           16048057                                  510000                     2337.5                                            360                                      358                                         5.25                    0
           16048058                               451877.58                    2448.33                                            360                                      357                                         6.25                    0
           16048059                                  675000                    3445.31                                            360                                      357                                        5.875                    0
           16048060                                  999999                    4583.33                                            360                                      358                                         5.25                    0
           16048061                                  539496                    2641.28                                            360                                      358                                        5.625                    0
           16048063                                  574000                    3168.96                                            360                                      357                                        6.375                    0
           16048064                               546315.64                    3241.63                                            360                                      357                                        5.625                    0
           16048066                                  535000                    2563.54                                            360                                      357                                          5.5                    0
           16048067                                  584000                    2859.17                                            360                                      357                                        5.625                    0
           16048070                               515999.19                     2687.5                                            360                                      357                                            6                    0
           16048071                                  700800                       3431                                            360                                      357                                        5.625                    0
           16048072                               482630.85                    2515.19                                            360                                      357                                            6                    0
           16048073                                  439960                     2199.8                                            360                                      357                                         5.75                    0
           16048074                                  432000                       1935                                            360                                      358                                        5.125                    0
           16048075                                  483460                    2316.58                                            360                                      357                                          5.5                    0
           16048076                                  760000                    3483.33                                            360                                      357                                         5.25                    0
           16048077                                  573600                    2808.25                                            360                                      357                                        5.135                 0.49
           16048078                                  465000                    2421.88                                            360                                      357                                            6                    0
           16048079                               612652.12                    3000.52                                            360                                      357                                        5.625                    0
           16048080                                  491200                     2609.5                                            360                                      357                                        6.125                    0
           16048081                                  467606                    2338.03                                            360                                      357                                         5.75                    0
           16048083                               684862.42                    3574.42                                            360                                      358                                            6                    0
           16048084                               193536.41                    1159.41                                            360                                      348                                        5.625                    0
           16048086                               583285.54                    3554.52                                            360                                      357                                        5.875                    0
           16048087                                  999950                    5312.23                                            360                                      357                                        6.125                    0
           16166797                                  680000                    3258.33                                            360                                      359                                          5.5                    0
           16166649                               419571.79                    2484.46                                            360                                      359                                        5.625                    0
           16166730                                  799000                    3911.77                                            360                                      359                                        5.625                    0
           16166615                                  650000                    3453.13                                            360                                      359                                        6.125                    0
           16166582                                  825000                    4296.88                                            360                                      359                                            6                    0
           16166471                                  580000                    3020.83                                            360                                      359                                            6                    0
           16166475                                  640000                    3133.33                                            360                                      359                                        5.625                    0
           16166437                                  476000                    2578.33                                            360                                      359                                         6.25                    0
           16166450                                  748000                    3973.75                                            360                                      359                                        6.125                    0
           16166320                                  665000                    3255.73                                            360                                      359                                        5.625                    0
           16166337                                  575765                    3118.73                                            360                                      359                                         6.25                    0
           16166347                               939190.68                    6096.82                                            360                                      359                                          6.5                    0
           16166275                                 1000000                    4791.67                                            360                                      359                                          5.5                    0
           16166095                                  711200                    3852.33                                            360                                      358                                         6.25                    0
           16166097                                  525000                    2953.13                                            360                                      358                                          6.5                    0
           16166101                               985076.86                    5917.85                                            360                                      358                                         5.75                    0
           16166119                               538785.62                     3151.3                                            360                                      358                                          5.5                    0
           16166120                                  608000                    3103.33                                            360                                      358                                        5.875                    0
           16166134                                  880000                    4858.33                                            360                                      358                                        6.375                    0
           16166140                                  560000                    2916.67                                            360                                      359                                            6                    0
           16166146                                  644000                    3287.08                                            360                                      358                                        5.875                    0
           16166150                                  604850                    2961.24                                            360                                      359                                        5.625                    0
           16166158                               498343.67                    3160.35                                            360                                      357                                         6.25                    0
           16166162                               798403.22                     4796.4                                            360                                      358                                         5.75                    0
           16166165                                  440000                    2154.17                                            360                                      359                                        5.625                    0
           16166190                               671515.37                    4415.09                                            360                                      359                                        6.625                    0
           16166191                                  536000                    2624.17                                            360                                      358                                        5.625                    0
           16166192                               454808.08                    2952.42                                            360                                      359                                          6.5                    0
           16166250                                  501274                    2871.88                                            360                                      359                                        6.625                    0
           16166072                                  639000                    3461.25                                            360                                      358                                         6.25                    0
           16166081                               446740.87                    2661.92                                            360                                      353                                        5.625                    0
           16166088                                  500000                    2552.08                                            360                                      353                                        5.875                    0
           16166094                               905473.94                    5585.79                                            360                                      358                                            6                    0
           16166794                                  488000                     2592.5                                            360                                      359                                        6.125                    0
           16166798                                  500000                    2552.08                                            360                                      359                                        5.875                    0
           16166747                                  580250                    2840.81                                            360                                      359                                        5.625                    0
           16166751                                447959.8                     2239.8                                            360                                      359                                         5.75                    0
           16166754                                  515000                    2199.48                                            360                                      359                                        4.875                    0
           16166759                               487536.97                     3004.7                                            360                                      359                                            6                    0
           16166763                                  484000                    2520.83                                            360                                      359                                            6                    0
           16166766                                  579200                       2896                                            360                                      359                                         5.75                    0
           16166768                                  708000                       4720                                            360                                      359                                         7.75                    0
           16166769                                  999999                    5312.49                                            360                                      359                                        6.125                    0
           16166771                                  442000                    2163.96                                            360                                      359                                        5.625                    0
           16166734                                 1455000                    7426.56                                            360                                      359                                        5.875                    0
           16166735                                  545231                    3123.72                                            360                                      359                                        6.625                    0
           16166736                                  541200                    2875.13                                            360                                      359                                        6.125                    0
           16166738                                  569400                    2787.69                                            360                                      359                                        5.625                    0
           16166631                               711174.08                    4211.75                                            360                                      359                                        5.625                    0
           16166632                                  443300                    1893.26                                            360                                      359                                        4.875                    0
           16166635                                  704000                    3593.33                                            360                                      359                                        5.875                    0
           16166642                                  540000                       2700                                            360                                      359                                         5.75                    0
           16166644                                  490122                    2654.83                                            360                                      359                                         6.25                    0
           16166653                               549439.25                    3253.46                                            360                                      359                                        5.625                    0
           16166657                               719823.75                       3525                                            360                                      359                                        5.625                    0
           16166662                               468521.84                    2774.31                                            360                                      359                                        5.625                    0
           16166665                                  600000                       3250                                            360                                      359                                         6.25                    0
           16166667                                  537600                       2744                                            360                                      359                                        5.875                    0
           16166680                               671362.38                    4137.62                                            360                                      359                                            6                    0
           16166693                                  600000                       3250                                            360                                      359                                         6.25                    0
           16166694                                  556000                    3243.33                                            360                                      360                                         6.75                    0
           16166696                                  600000                       3000                                            360                                      359                                         5.75                    0
           16166701                                  984000                     5022.5                                            360                                      359                                        5.875                    0
           16166703                                  592248                    3084.63                                            360                                      359                                            6                    0
           16166705                                  920000                    4695.83                                            360                                      359                                        5.875                    0
           16166713                                  584000                       3285                                            360                                      359                                          6.5                    0
           16166715                                  577600                    3128.67                                            360                                      359                                         6.25                    0
           16166719                                  504000                     2572.5                                            360                                      359                                        5.875                    0
           16166722                               527474.37                    3165.63                                            360                                      359                                         5.75                    0
           16166584                               453548.04                    2721.96                                            360                                      359                                         5.75                    0
           16166587                                  595717                    2854.48                                            360                                      359                                          5.5                    0
           16166589                                  724000                    4147.92                                            360                                      359                                        6.625                    0
           16166590                                  616000                    3914.17                                            360                                      359                                        7.375                    0
           16166596                                  646000                    3162.71                                            360                                      359                                        5.625                    0
           16166598                                  425000                    1903.65                                            360                                      359                                        5.125                    0
           16166602                                  460000                    2347.92                                            360                                      359                                        5.875                    0
           16166604                                  580000                    3081.25                                            360                                      359                                        6.125                    0
           16166605                                  616000                    3208.33                                            360                                      359                                            6                    0
           16166606                                  788000                    4268.33                                            360                                      359                                         6.25                    0
           16166609                                459617.8                    2395.83                                            360                                      359                                            6                    0
           16166611                                  680000                    3541.67                                            360                                      359                                            6                    0
           16166574                                  515000                    2682.29                                            360                                      359                                            6                    0
           16166578                                  452000                    2354.17                                            360                                      359                                            6                    0
           16166456                                  856000                    4458.33                                            360                                      359                                            6                    0
           16166472                                  448000                    2426.67                                            360                                      359                                         6.25                    0
           16166473                                  574000                    3049.38                                            360                                      359                                        6.125                    0
           16166476                                  690000                    3953.13                                            360                                      359                                        6.625                    0
           16166479                                  608000                       3230                                            360                                      359                                        6.125                    0
           16166481                                  924000                     4812.5                                            360                                      359                                            6                    0
           16166482                                  423992                    2119.96                                            360                                      359                                         5.75                    0
           16166483                                  426000                    2174.38                                            360                                      359                                        5.875                    0
           16166493                                  976000                       4575                                            360                                      359                                        5.375                    0
           16166497                                  450000                     2437.5                                            360                                      359                                         6.25                    0
           16166498                                  554400                     2887.5                                            360                                      359                                            6                    0
           16166500                               463549.02                    2819.31                                            360                                      359                                        5.875                    0
           16166501                                  968000                       5445                                            360                                      359                                          6.5                    0
           16166504                                  920000                    4791.67                                            360                                      359                                            6                    0
           16166505                                  570000                    2968.75                                            360                                      359                                            6                    0
           16166510                                  825969                    4387.96                                            360                                      359                                        6.125                    0
           16166527                                  716000                    3654.58                                            360                                      359                                        5.875                    0
           16166528                                  840000                       4375                                            360                                      359                                            6                    0
           16166531                                  423000                    1938.75                                            360                                      359                                         5.25                    0
           16166534                                  736000                       3910                                            360                                      359                                        6.125                    0
           16166535                                  584000                    3041.67                                            360                                      359                                            6                    0
           16166536                                  476000                     2082.5                                            360                                      359                                            5                    0
           16166542                                  607500                    3164.06                                            360                                      359                                            6                    0
           16166554                                  508000                       2540                                            360                                      359                                         5.75                    0
           16166555                                  516000                       2795                                            360                                      359                                         6.25                    0
           16166556                                  672536                    3572.85                                            360                                      359                                        6.125                    0
           16166563                                  498300                    2439.59                                            360                                      359                                        5.625                    0
           16166570                               779259.91                    4802.59                                            360                                      359                                            6                    0
           16166413                                  463200                     2219.5                                            360                                      359                                          5.5                    0
           16166414                                  628000                    3270.83                                            360                                      359                                            6                    0
           16166415                                  630600                    3350.06                                            360                                      359                                        6.125                    0
           16166416                                  700000                    2770.83                                            360                                      359                                          4.5                    0
           16166423                                  776000                     4122.5                                            360                                      359                                        6.125                    0
           16166424                                  584000                       2555                                            360                                      359                                            5                    0
           16166438                                  676800                       3666                                            360                                      359                                         6.25                    0
           16166440                                514134.8                    3252.62                                            360                                      359                                         6.25                    0
           16166329                                540169.6                    2869.65                                            360                                      359                                        6.125                    0
           16166345                                  570000                    2790.63                                            360                                      359                                        5.625                    0
           16166350                                  999999                       5000                                            360                                      359                                         5.75                    0
           16166354                                  602000                    3072.71                                            360                                      359                                        5.875                    0
           16166355                                  500000                    2604.17                                            360                                      359                                            6                    0
           16166356                               703332.02                    4334.65                                            360                                      359                                            6                    0
           16166362                               495517.92                    3013.75                                            360                                      359                                        5.875                    0
           16166363                                  493600                    2313.75                                            360                                      358                                        5.375                    0
           16166369                                  820800                     4018.5                                            360                                      359                                        5.625                    0
           16166370                                  600000                       3375                                            360                                      359                                          6.5                    0
           16166371                                  550000                    2692.71                                            360                                      359                                        5.625                    0
           16166373                                  442500                    2304.69                                            360                                      359                                            6                    0
           16166376                                  604720                    2582.66                                            360                                      359                                        4.875                    0
           16166401                                  801000                    3671.25                                            360                                      359                                         5.25                    0
           16166402                               523977.04                    2347.08                                            360                                      359                                        5.125                    0
           16166405                               649321.36                    3793.22                                            360                                      359                                          5.5                    0
           16166408                                  630000                    3478.13                                            360                                      359                                        6.375                    0
           16166409                               505059.48                    2910.52                                            360                                      359                                        5.375                    0
           16166410                                  508000                    2910.42                                            360                                      359                                        6.625                    0
           16166412                                  600000                     2687.5                                            360                                      359                                        5.125                    0
           16166284                               715304.09                    4350.49                                            360                                      359                                        5.875                    0
           16166287                                  616000                    3015.83                                            360                                      359                                        5.625                    0
           16166292                                  440800                       2204                                            360                                      359                                         5.75                    0
           16166293                               807251.63                    5040.87                                            360                                      359                                        6.125                    0
           16166294                                  435200                    2130.67                                            360                                      359                                        5.625                    0
           16166300                                  616247                    3081.24                                            360                                      359                                         5.75                    0
           16166302                                  685000                       3425                                            360                                      359                                         5.75                    0
           16166316                                  880000                       4400                                            360                                      359                                         5.75                    0
           16166096                                 1000000                    4895.83                                            360                                      357                                        5.625                    0
           16166099                                  736500                    3529.06                                            360                                      357                                          5.5                    0
           16166103                                  520000                       3250                                            360                                      358                                         7.25                    0
           16166105                                  471250                    2356.25                                            360                                      358                                         5.75                    0
           16166111                                  588333                    3309.37                                            360                                      358                                          6.5                    0
           16166114                                  500000                    2552.08                                            360                                      358                                        5.875                    0
           16166117                                  569600                    2907.33                                            360                                      358                                        5.875                    0
           16166131                                 1000000                    5208.33                                            360                                      359                                            6                    0
           16166132                               459584.16                    2907.51                                            360                                      359                                         6.25                    0
           16166133                                  796000                    3731.25                                            360                                      359                                        5.375                    0
           16166139                                  475000                    2276.04                                            360                                      358                                          5.5                    0
           16166144                                  521000                    3310.52                                            360                                      358                                        7.375                    0
           16166171                                  452950                    2359.11                                            360                                      359                                            6                    0
           16166172                                  728000                    4246.67                                            360                                      359                                         6.75                    0
           16166173                                  722500                    3537.24                                            360                                      359                                        5.625                    0
           16166174                                  609850                    3049.25                                            360                                      359                                         5.75                    0
           16166181                                  816000                       4675                                            360                                      359                                        6.625                    0
           16166184                               527461.68                    3123.32                                            360                                      359                                        5.625                    0
           16166186                              1042174.52                    5556.69                                            360                                      354                                        4.625                    0
           16166195                                  860000                    4568.75                                            360                                      359                                        6.125                    0
           16166196                                  536000                     2847.5                                            360                                      359                                        6.125                    0
           16166205                                  474400                    2322.58                                            360                                      358                                        5.625                    0
           16166210                                  787500                    4265.63                                            360                                      359                                         6.25                    0
           16166211                                  577875                    3190.35                                            360                                      359                                        6.375                    0
           16166212                                  584000                    3224.17                                            360                                      359                                        6.375                    0
           16166214                                  511200                     2662.5                                            360                                      359                                            6                    0
           16166215                                  480000                       2300                                            360                                      359                                          5.5                    0
           16166219                                  460000                    2491.67                                            360                                      358                                         6.25                    0
           16166222                                  512000                       2560                                            360                                      358                                         5.75                    0
           16166229                                  805000                       4025                                            360                                      359                                         5.75                    0
           16166230                                  472000                    2409.17                                            360                                      359                                        5.875                    0
           16166239                               649351.68                     3892.9                                            360                                      359                                         5.74                    0
           16166243                                  496550                    2534.47                                            360                                      359                                        5.875                    0
           16166244                                  575348                     2996.6                                            360                                      359                                            6                    0
           16166258                                  455600                    2372.92                                            360                                      359                                            6                    0
           16166261                                  427750                    2094.19                                            360                                      359                                        5.625                    0
           16166262                               607423.11                    3743.56                                            360                                      359                                            6                    0
           16166264                                  750000                    4218.75                                            360                                      359                                          6.5                    0
           16166265                                  889114                       5336                                            360                                      359                                         5.75                    0
           16166070                                  553000                    2419.38                                            360                                      359                                            5                    0
           16166071                               565468.46                    3191.84                                            360                                      353                                        5.125                    0
           16166073                                  575000                    2695.31                                            360                                      355                                        5.375                    0
           16166077                                  496639                    2586.66                                            360                                      359                                            6                    0
           16166079                                  666828                    3473.06                                            360                                      359                                            6                    0
           16166085                                  664000                    3665.83                                            360                                      359                                        6.375                    0
           16166087                                  904500                    4993.59                                            360                                      359                                        6.375                    0
           16166093                               442319.96                    2165.52                                            360                                      356                                        5.625                    0
           16184179                                  618000                       3090                                            360                                      359                                         5.75                    0
           16184180                               611026.54                    3311.21                                            360                                      359                                         6.25                    0
           16184181                                  609600                     3111.5                                            360                                      359                                        5.875                    0
           16184183                                  644000                    3421.25                                            360                                      359                                        6.125                    0
           16184184                                  512000                    2666.67                                            360                                      359                                            6                    0
           16184185                                  460000                    2395.83                                            360                                      359                                            6                    0
           16184186                               499502.25                    2997.75                                            360                                      359                                         5.75                    0
           16184187                                  700000                    3718.75                                            360                                      359                                        6.125                    0
           16184188                                  503190                    2830.44                                            360                                      359                                          6.5                    0
           16184189                               625669.96                    3906.99                                            360                                      359                                        6.125                    0
           16184191                                  640000                    3466.67                                            360                                      359                                         6.25                    0
           16184193                                  540000                    2981.25                                            360                                      359                                        6.375                    0
           16184195                                  936000                     4972.5                                            360                                      359                                        6.125                    0
           16184196                                  488800                    2698.58                                            360                                      359                                        6.375                    0
           16184198                                  562500                    2871.09                                            360                                      359                                        5.875                    0
           16184199                                  472000                    2458.33                                            360                                      359                                            6                    0
           16184200                                  656000                       3485                                            360                                      359                                        6.125                    0
           16184202                                  452800                    2311.17                                            360                                      359                                        5.875                    0
           16184203                               464997.52                    2421.88                                            360                                      359                                            6                    0
           16184204                                  615000                    3203.13                                            360                                      359                                            6                    0
           16184205                                  844000                    4659.58                                            360                                      359                                        6.375                    0
           16184209                               443833.72                    2663.66                                            360                                      359                                         5.75                    0
           16184212                                  908000                    5202.08                                            360                                      359                                        6.625                    0
           16184214                                473331.5                    2878.81                                            360                                      359                                        5.875                    0
           16184217                                  715000                     4229.5                                            360                                      360                                        5.625                    0
           16184218                                  440000                    2154.17                                            360                                      360                                        5.625                    0
           16184219                                  484000                       2420                                            360                                      360                                         5.75                    0
           16184220                                  660000                       3575                                            360                                      360                                         6.25                    0
           16184221                                  492000                     2562.5                                            360                                      360                                            6                    0
           16184223                                  642000                    3410.63                                            360                                      360                                        6.125                    0
           16184224                                  439000                    2332.19                                            360                                      360                                        6.125                    0
           16184225                                  600000                       2875                                            360                                      360                                          5.5                    0
           16184226                                  603992                    2957.04                                            360                                      359                                        5.625                    0
           16184227                                  718000                    3739.58                                            360                                      359                                            6                    0
           16184228                                  752000                    4630.19                                            360                                      360                                            6                    0
           16184229                                  600000                       3250                                            360                                      360                                         6.25                    0
           16184230                               555521.29                    3606.21                                            360                                      359                                          6.5                    0
           16184232                                 1275000                    7039.06                                            360                                      360                                        6.375                    0
           16184234                                  701250                    3652.34                                            360                                      360                                            6                    0
           16184236                                  424000                     2252.5                                            360                                      359                                        6.125                    0
           16184239                                  530000                    2705.21                                            360                                      360                                        5.875                    0
           16184241                                  529000                     2589.9                                            360                                      360                                        5.625                    0
           16184245                                  600000                     3312.5                                            360                                      360                                        6.375                    0
           16184257                                  421380                    2238.58                                            360                                      360                                        6.125                    0
           16184259                                  650000                    3453.13                                            360                                      360                                        6.125                    0
           16184262                                  500000                    3119.35                                            360                                      360                                        6.125                    0
           16184265                                  800000                       4250                                            360                                      360                                        6.125                    0
           16184266                                  420000                       2275                                            360                                      360                                         6.25                    0
           16184268                                  648000                       3240                                            360                                      359                                         5.75                    0
           16184176                               472949.65                    2818.09                                            360                                      353                                        5.625                    0
           16184177                               461202.69                    2917.75                                            360                                      359                                         6.25                    0
           16166799                                  650000                    3453.13                                            360                                      359                                        6.125                    0
           16166800                                989111.3                    5695.29                                            360                                      358                                        6.625                    0
           16166802                                  448000                       2520                                            360                                      359                                          6.5                    0
           16166756                                  592500                    3147.66                                            360                                      359                                        6.125                    0
           16166760                                  496800                    2432.25                                            360                                      359                                        5.625                    0
           16166764                                  668900                    3692.89                                            360                                      359                                        6.375                    0
           16166785                               907079.64                    5603.03                                            360                                      358                                            6                    0
           16166739                               649368.24                    3949.47                                            360                                      359                                        5.875                    0
           16166620                                  439920                     2199.6                                            360                                      359                                         5.75                    0
           16166624                                  751995                       3995                                            360                                      359                                        6.125                    0
           16166626                                  471200                    2405.08                                            360                                      359                                        5.875                    0
           16166646                               534230.25                     3249.2                                            360                                      359                                        5.875                    0
           16166673                               587455.39                    3668.36                                            360                                      359                                        6.125                    0
           16166674                                   36000                    3161.25                                            360                                      359                                          6.5                    0
           16166675                                  528000                       3135                                            360                                      359                                        6.875                    0
           16166687                                  899400                    5152.81                                            360                                      359                                        6.625                    0
           16166731                                  520000                       2925                                            360                                      359                                          6.5                    0
           16166594                                  750000                    3828.13                                            360                                      360                                        5.875                    0
           16166599                                  850000                    4781.25                                            360                                      359                                          6.5                    0
           16166600                                  448000                    2053.33                                            360                                      359                                         5.25                    0
           16166573                                  456000                       2375                                            360                                      359                                            6                    0
           16166581                               419678.37                    2451.69                                            360                                      359                                          5.5                    0
           16166453                               552475.29                    3404.92                                            360                                      359                                            6                    0
           16166465                               544495.22                    3400.09                                            360                                      359                                        6.125                    0
           16166466                                  628000                    3401.67                                            360                                      359                                         6.25                    0
           16166468                                  565000                    3001.56                                            360                                      359                                        6.125                    0
           16166484                                  900000                     4687.5                                            360                                      359                                            6                    0
           16166485                               835187.46                    5079.62                                            360                                      359                                        5.875                    0
           16166487                                  756000                    3543.75                                            360                                      359                                        5.375                    0
           16166489                                  518000                    2697.92                                            360                                      359                                            6                    0
           16166490                                  980000                    5206.25                                            360                                      359                                        6.125                    0
           16166496                                  825000                    4382.81                                            360                                      359                                        6.125                    0
           16166506                                599787.5                     3187.5                                            360                                      359                                        6.125                    0
           16166507                                 1000000                    5104.17                                            360                                      359                                        5.875                    0
           16166512                                  476000                       2380                                            360                                      359                                         5.75                    0
           16166517                                  532000                    2881.67                                            360                                      359                                         6.25                    0
           16166529                                  816000                       3910                                            360                                      359                                          5.5                    0
           16166537                               999051.16                    6157.17                                            360                                      359                                            6                    0
           16166558                                  694000                    3542.29                                            360                                      359                                        5.875                    0
           16166559                                  471920                    2507.08                                            360                                      359                                        6.125                    0
           16166564                               449552.02                    2697.98                                            360                                      359                                         5.75                    0
           16166420                                  505151                    2578.37                                            360                                      359                                        5.875                    0
           16166427                                  720000                       3600                                            360                                      359                                         5.75                    0
           16166429                                  444120                    2405.65                                            360                                      359                                         6.25                    0
           16166432                                  667200                     3266.5                                            360                                      359                                        5.625                    0
           16166434                                  531500                    2602.14                                            360                                      359                                        5.625                    0
           16166446                                  740000                    3854.17                                            360                                      359                                            6                    0
           16166448                               949054.27                    5695.73                                            360                                      359                                         5.75                    0
           16166452                                  551000                    2984.58                                            360                                      359                                         6.25                    0
           16166324                                  468000                       2340                                            360                                      358                                         5.75                    0
           16166330                                  559920                    2741.28                                            360                                      359                                        5.625                    0
           16166332                                  440000                       2200                                            360                                      359                                         5.75                    0
           16166333                              1798881.39                     8812.5                                            360                                      359                                        5.625                    0
           16166342                                  461000                    2401.04                                            360                                      359                                            6                    0
           16166346                                  420000                       2275                                            360                                      359                                         6.25                    0
           16166348                                  980000                    4797.92                                            360                                      359                                        5.625                    0
           16166351                                  464000                       2465                                            360                                      359                                        6.125                    0
           16166352                               427603.59                    2670.16                                            360                                      359                                        6.125                    0
           16166358                                  695000                    3836.98                                            360                                      359                                        6.375                    0
           16166360                                  439957                    2108.13                                            360                                      359                                          5.5                    0
           16166368                                  639200                    3262.58                                            360                                      359                                        5.875                    0
           16166374                                441162.8                    2683.16                                            360                                      359                                        5.875                    0
           16166375                                  424000                    2164.17                                            360                                      359                                        5.875                    0
           16166381                                  463960                    2368.13                                            360                                      359                                        5.875                    0
           16166383                                  650000                    3453.13                                            360                                      359                                        6.125                    0
           16166391                                  500000                    2656.25                                            360                                      359                                        6.125                    0
           16166393                                  443500                    2587.08                                            360                                      359                                         6.75                    0
           16166399                                  465000                    2421.88                                            360                                      359                                            6                    0
           16166271                                  528000                       2750                                            360                                      359                                            6                    0
           16166272                                  467950                    2583.47                                            360                                      359                                        6.375                    0
           16166274                                 1237500                    6058.59                                            360                                      359                                        5.625                    0
           16166278                                  420000                       2100                                            360                                      359                                         5.75                    0
           16166281                               471530.12                    2829.88                                            360                                      359                                         5.75                    0
           16166288                                  441910                    2347.65                                            360                                      359                                        6.125                    0
           16166304                                  564800                    2941.67                                            360                                      359                                            6                    0
           16166305                               1360530.6                    7213.54                                            360                                      359                                            6                    0
           16166306                                  488000                    2541.67                                            360                                      359                                            6                    0
           16166308                                749159.6                    4199.78                                            360                                      359                                        5.125                    0
           16166311                                 1000000                    4895.83                                            360                                      359                                        5.625                    0
           16166317                                  427000                    1868.13                                            360                                      359                                            5                    0
           16166100                                  516000                     2902.5                                            360                                      357                                          6.5                    0
           16166109                                  637000                    3251.35                                            360                                      358                                        5.875                    0
           16166118                                  624000                       3575                                            360                                      358                                        6.625                    0
           16166123                                  692000                    3532.08                                            360                                      359                                        5.875                    0
           16166126                               578351.63                    2892.59                                            360                                      359                                         5.75                    0
           16166129                                  716000                     4027.5                                            360                                      358                                          6.5                    0
           16166137                               583397.52                    3220.84                                            360                                      358                                        6.375                    0
           16166141                                  720000                       3750                                            360                                      359                                            6                    0
           16166157                                  448000                    2286.67                                            360                                      359                                        5.875                    0
           16166166                                  450000                    2296.88                                            360                                      359                                        5.875                    0
           16166177                                  880000                    5041.67                                            360                                      359                                        6.625                    0
           16166180                                  497550                       2799                                            360                                      359                                          6.5                    0
           16166182                                  460000                    2491.67                                            360                                      359                                         6.25                    0
           16166185                                  591400                       2960                                            360                                      359                                         5.75                    0
           16166187                                  599200                    3432.92                                            360                                      359                                        6.625                    0
           16166193                               499490.23                    2957.69                                            360                                      359                                        5.625                    0
           16166198                                  448000                       2520                                            360                                      359                                          6.5                    0
           16166199                                  570350                     3089.4                                            360                                      359                                         6.25                    0
           16166221                                  503500                    2779.74                                            360                                      358                                        6.375                    0
           16166224                                  504000                       2730                                            360                                      359                                         6.25                    0
           16166227                                  540000                    2868.75                                            360                                      359                                        6.125                    0
           16166233                                  552000                       2875                                            360                                      359                                            6                    0
           16166236                               780222.51                    4682.49                                            360                                      359                                         5.75                    0
           16166251                                  540000                    2981.25                                            360                                      359                                        6.375                    0
           16166254                                 1000000                    4895.83                                            360                                      359                                        5.625                    0
           16166263                                 1700000                    8677.08                                            360                                      359                                        5.875                    0
           16166266                                  880000                    4583.33                                            360                                      359                                            6                    0
           16166078                                  666025                    3468.88                                            360                                      359                                            6                    0
           16166082                                  559300                    2971.28                                            360                                      359                                        6.125                    0
           16166089                                  683000                    3557.29                                            360                                      359                                            6                    0
           16177241                                 1000000                    4895.83                                            360                                      359                                        5.625                    0
           16177242                                  751960                    3916.46                                            360                                      360                                            6                    0
           16177243                                  540000                       2700                                            360                                      360                                         5.75                    0
           16177244                                 1196250                    5482.81                                            360                                      360                                         5.25                    0
           16177245                                 1125000                    6476.13                                            360                                      360                                        5.375                    0
           16177220                              1269019.43                    7615.99                                            360                                      359                                         5.75                    0
           16177221                                  503920                    2572.09                                            360                                      360                                        5.875                    0
           16177222                                  459000                    2342.81                                            360                                      360                                        5.875                    0
           16177223                                  431200                    2335.67                                            360                                      360                                         6.25                    0
           16177224                                  504000                       2520                                            360                                      360                                         5.75                    0
           16177225                               702541.48                       4025                                            360                                      359                                        6.625                    0
           16177226                                499991.2                    2552.05                                            360                                      359                                        5.875                    0
           16177227                                  540000                       2925                                            360                                      359                                         6.25                    0
           16177228                                  736000                       3680                                            360                                      360                                         5.75                    0
           16177229                                  524000                    2729.17                                            360                                      359                                            6                    0
           16177230                                  440000                       2200                                            360                                      359                                         5.75                    0
           16177231                                  556000                       2780                                            360                                      359                                         5.75                    0
           16177232                                  691000                    3742.92                                            360                                      359                                         6.25                    0
           16177233                                  648000                     3442.5                                            360                                      359                                        6.125                    0
           16177234                                  532000                    2770.83                                            360                                      359                                            6                    0
           16177235                                  468000                    2291.25                                            360                                      359                                        5.625                    0
           16177236                                  774000                    4273.13                                            360                                      360                                        6.375                    0
           16177237                                  494650                    2679.35                                            360                                      360                                         6.25                    0
           16177238                                  524200                     781.08                                            360                                      360                                         6.25                    0
           16177239                                  624000                    4047.25                                            360                                      360                                          6.5                    0
           16177240                                  530500                    2873.54                                            360                                      360                                         6.25                    0
           16177210                                  903750                    4518.75                                            360                                      360                                         5.75                    0
           16177211                                  639200                    3329.17                                            360                                      359                                            6                    0
           16177212                                 3000000                      16875                                            360                                      359                                          6.5                    0
           16177213                               441619.45                     2866.8                                            360                                      359                                          6.5                    0
           16177214                                  900000                       4500                                            360                                      360                                         5.75                    0
           16177215                                  500000                    2552.08                                            360                                      359                                        5.875                    0
           16177216                               404968.75                    2235.76                                            360                                      359                                        6.375                    0
           16177217                               997006.49                    5983.51                                            360                                      359                                         5.75                    0
           16177218                                  584000                    2859.17                                            360                                      360                                        5.625                    0
           16177219                                  428000                       2140                                            360                                      359                                         5.75                    0
           16177170                                  591776                    2897.24                                            360                                      360                                        5.625                    0
           16177171                                  543200                    2829.17                                            360                                      360                                            6                    0
           16177172                               649982.29                    3182.22                                            360                                      359                                        5.625                    0
           16177173                                 1110000                    5781.25                                            360                                      360                                            6                    0
           16177174                                 3000000                    17187.5                                            360                                      360                                        6.625                    0
           16177175                               419264.55                    2689.31                                            360                                      359                                        6.375                    0
           16177176                                  482000                    2610.83                                            360                                      359                                         6.25                    0
           16177177                                 1000000                    5104.17                                            360                                      359                                        5.875                    0
           16177178                               439162.84                    2709.16                                            360                                      358                                            6                    0
           16177179                                  532000                    2549.17                                            360                                      359                                          5.5                    0
           16177180                               423396.33                    2072.88                                            360                                      359                                        5.625                    0
           16177181                                  436000                    1771.25                                            360                                      359                                        4.625                    0
           16177182                               491098.79                       2908                                            360                                      359                                        5.625                    0
           16177183                                  657000                    3216.56                                            360                                      359                                        5.625                    0
           16177184                               455446.15                    2733.35                                            360                                      359                                         5.75                    0
           16177185                               469532.11                    2817.89                                            360                                      359                                         5.75                    0
           16177186                                  684000                    3491.25                                            360                                      359                                        5.875                    0
           16177187                              1309959.38                    6959.24                                            360                                      359                                        6.125                    0
           16177188                                  605000                    2898.96                                            360                                      359                                          5.5                    0
           16177189                                  593910                    3402.61                                            360                                      359                                        6.135                 0.49
           16177190                                  746500                    3888.02                                            360                                      359                                            6                    0
           16177191                                  504000                       2730                                            360                                      359                                         6.25                    0
           16177192                                  508000                    2592.92                                            360                                      359                                        5.875                    0
           16177193                                  625000                    2734.38                                            360                                      359                                            5                    0
           16177194                                 1646000                    8915.83                                            360                                      359                                         6.25                    0
           16177195                               543151.25                    3055.23                                            360                                      359                                          6.5                    0
           16177196                               507562.62                    3294.88                                            360                                      359                                          6.5                    0
           16177197                                  456000                       2185                                            360                                      359                                          5.5                    0
           16177198                                  549975                    2921.74                                            360                                      359                                        6.125                    0
           16177199                                  434400                     2262.5                                            360                                      359                                            6                    0
           16177165                                  469000                    2296.15                                            360                                      359                                        5.625                    0
           16177166                                  555950                    2606.14                                            360                                      359                                        5.375                    0
           16177167                                 2800000                   16916.67                                            360                                      358                                            7                    0
           16177168                                  650000                    3317.71                                            360                                      359                                        5.875                    0
           16177169                                  457100                    2475.96                                            360                                      359                                         6.25                    0
           16177113                                  539300                    2640.32                                            360                                      359                                        5.625                    0
           16177114                               925049.51                    5010.69                                            360                                      359                                         6.25                    0
           16177115                                 1100000                    5385.42                                            360                                      359                                        5.625                    0
           16177116                               453584.67                    2795.46                                            360                                      359                                            6                    0
           16177117                                  418428                    2135.73                                            360                                      359                                        5.875                    0
           16177118                                  568038                    2662.68                                            360                                      359                                        5.375                    0
           16177119                               471348.58                    2356.74                                            360                                      359                                         5.75                    0
           16177120                                  650000                    3317.71                                            360                                      359                                        5.875                    0
           16177121                                  453750                    2363.28                                            360                                      359                                            6                    0
           16177122                                  477890                    2787.69                                            360                                      359                                         6.75                    0
           16177123                                  624000                       3380                                            360                                      359                                         6.25                    0
           16177124                                  435975                    2134.46                                            360                                      359                                        5.625                    0
           16177125                                  576000                       3480                                            360                                      359                                            7                    0
           16177126                                  455600                    2325.46                                            360                                      359                                        5.875                    0
           16177127                                  531700                    2824.66                                            360                                      359                                        6.125                    0
           16177128                                  636660                    3448.58                                            360                                      359                                         6.25                    0
           16177129                                  959950                    4999.74                                            360                                      359                                            6                    0
           16177130                                 2750000                   12031.25                                            360                                      355                                            5                    0
           16177131                                  725900                    3402.66                                            360                                      358                                        5.375                    0
           16177132                                  540450                    2645.95                                            360                                      358                                        5.625                    0
           16177133                                  451000                    2301.98                                            360                                      359                                        5.875                    0
           16177134                                556445.5                     3339.5                                            360                                      359                                         5.75                    0
           16177135                                  608543                    3296.27                                            360                                      359                                         6.25                    0
           16177136                                  695000                    3619.79                                            360                                      359                                            6                    0
           16177137                                  600000                     3312.5                                            360                                      359                                        6.375                    0
           16177138                                  635350                     3375.3                                            360                                      359                                        6.125                    0
           16177139                                  436000                    2361.67                                            360                                      359                                         6.25                    0
           16177140                                  418000                    2220.63                                            360                                      359                                        6.125                    0
           16177141                               532360.58                     3152.9                                            360                                      359                                        5.625                    0
           16177142                                  505000                    2682.81                                            360                                      359                                        6.125                    0
           16177143                               462980.62                    2595.47                                            360                                      359                                        5.125                    0
           16177144                                  680000                    3258.33                                            360                                      359                                          5.5                    0
           16177145                                  555000                    2948.44                                            360                                      359                                        6.125                    0
           16177146                                  705481                    3380.45                                            360                                      359                                          5.5                    0
           16177147                                  457792                    2527.39                                            360                                      359                                        6.375                    0
           16177148                               515486.32                    3093.68                                            360                                      359                                         5.75                    0
           16177110                                  600000                     3187.5                                            360                                      358                                        6.125                    0
           16177111                                  500000                    2604.17                                            360                                      358                                            6                    0
           16177112                                  620000                    3035.42                                            360                                      357                                        5.625                    0
           16177149                                  430600                    1883.88                                            360                                      355                                            5                    0
           16177150                              2107955.85                   12651.12                                            360                                      359                                         5.75                    0
           16177152                                  460000                       2300                                            360                                      360                                         5.75                    0
           16177153                              1404816.27                     8318.5                                            360                                      359                                        5.625                    0
           16177154                                  480000                       2600                                            360                                      358                                         6.25                    0
           16177155                                  482000                    2967.76                                            360                                      360                                            6                    0
           16177157                                  640000                       3400                                            360                                      359                                        6.125                    0
           16177158                                 1000000                    5208.33                                            360                                      357                                            6                    0
           16177159                                  654000                       3270                                            360                                      359                                         5.75                    0
           16177160                                  453948                     1891.5                                            360                                      358                                         4.75                    0
           16177161                               528725.83                    2588.59                                            360                                      359                                        5.625                    0
           16177162                               746615.63                    4540.93                                            360                                      359                                        5.875                    0
           16177163                                 1662500                    7966.15                                            360                                      359                                          5.5                    0
           16177164                                  477700                    2438.26                                            360                                      359                                        5.875                    0
           16177100                                  750200                    4376.17                                            360                                      359                                         6.75                    0
           16177101                                  460000                    2252.08                                            360                                      359                                        5.625                    0
           16177102                                  494500                    2627.03                                            360                                      359                                        6.125                    0
           16177103                               581887.33                    2485.29                                            360                                      359                                        4.875                    0
           16177104                                  840000                     4112.5                                            360                                      359                                        5.625                    0
           16177105                               550223.01                    3261.44                                            360                                      358                                        5.625                    0
           16177106                               614387.76                    3687.24                                            360                                      359                                         5.75                    0
           16177107                               465835.79                    2795.71                                            360                                      359                                         5.75                    0
           16177108                                  711800                    3781.44                                            360                                      355                                        6.125                    0
           16177109                               444324.56                    2221.62                                            360                                      359                                         5.75                    0
           16177200                                  479300                    2296.65                                            360                                      359                                          5.5                    0
           16177201                                 1585000                    8915.63                                            360                                      359                                          6.5                    0
           16177202                                  510000                    2868.75                                            360                                      359                                          6.5                    0
           16177203                                  457696                    2288.48                                            360                                      359                                         5.75                    0
           16177204                                  454696                    2273.48                                            360                                      359                                         5.75                    0
           16177205                                  716000                    3729.17                                            360                                      359                                            6                    0
           16177206                                  465000                    2787.91                                            360                                      360                                         5.75                    0
           16177207                                  532000                    2881.67                                            360                                      359                                         6.25                    0
           16177208                                  960000                       4600                                            360                                      359                                          5.5                    0
           16177209                                  639500                    3131.78                                            360                                      359                                        5.625                    0
           16177090                                  445100                    2179.14                                            360                                      353                                        5.625                    0
           16177091                                  640872                    2737.06                                            360                                      359                                        4.875                    0
           16177092                                  651795                     2919.5                                            360                                      360                                        5.125                    0
           16177093                                  998628                    4889.12                                            360                                      360                                        5.625                    0
           16177094                                  499900                    2447.43                                            360                                      359                                        5.625                    0
           16177095                                  448666                    2149.86                                            360                                      359                                          5.5                    0
           16177096                               599194.49                    2995.97                                            360                                      358                                         5.75                    0
           16177097                                  774000                     4192.5                                            360                                      356                                         6.25                    0
           16177098                                  603050                    3140.89                                            360                                      358                                            6                    0
           16177099                               999051.16                    6157.17                                            360                                      359                                            6                    0
           16218249                                 1000000                    6821.76                                            360                                      360                                            7                    0
           16218250                                  472500                    2559.38                                            360                                      360                                         6.25                    0
           16218251                                  468000                    2388.75                                            360                                      359                                        5.875                    0
           16218252                                  447200                    2329.17                                            360                                      360                                            6                    0
           16218244                                  576000                       2400                                            360                                      360                                         4.75                    0
           16218245                                  632000                    3094.17                                            360                                      360                                        5.625                    0
           16218246                                  392800                    1923.08                                            360                                      360                                        5.625                    0
           16218247                                  720000                       3900                                            360                                      360                                         6.25                    0
           16218248                                  945000                    5895.57                                            360                                      360                                        6.125                    0
           16218236                                  633600                       3630                                            360                                      360                                        6.625                    0
           16218237                                  644830                    3425.66                                            360                                      360                                        6.125                    0
           16218238                                  940000                    4895.83                                            360                                      360                                            6                    0
           16218239                                  574000                    3349.71                                            360                                      360                                          5.5                    0
           16218240                                  860000                       4300                                            360                                      360                                         5.75                    0
           16218241                                  620000                     3487.5                                            360                                      360                                          6.5                    0
           16218242                                  552000                       2875                                            360                                      360                                            6                    0
           16218243                                  472000                    2753.33                                            360                                      360                                         6.75                    0
           16218230                                  650000                    3588.54                                            360                                      360                                        6.375                    0
           16218231                                  628000                    3074.58                                            360                                      360                                        5.625                    0
           16218232                                  900000                    4406.25                                            360                                      360                                        5.625                    0
           16218233                                 1240000                    7138.14                                            360                                      360                                        5.375                    0
           16218234                                  201600                       1050                                            360                                      360                                            6                    0
           16218235                                   77600                      436.5                                            360                                      360                                          6.5                    0
           16218227                                  650000                    3385.42                                            360                                      360                                            6                    0
           16218228                                  756000                       4095                                            360                                      360                                         6.25                    0
           16218229                                  452000                    2448.33                                            360                                      360                                         6.25                    0
           16218226                                  522500                    2721.35                                            360                                      360                                            6                    0
           16218150                                 1500000                    7343.75                                            360                                      360                                        5.625                    0
           16218151                                  650000                    3046.88                                            360                                      360                                        5.375                    0
           16218152                                  583600                    3100.38                                            360                                      360                                        6.125                    0
           16218153                                  427992                    2496.62                                            360                                      360                                         6.75                    0
           16218154                                  596000                    3166.25                                            360                                      360                                        6.125                    0
           16218155                                  452000                    2401.25                                            360                                      359                                        6.125                    0
           16218156                                  504000                     2677.5                                            360                                      360                                        6.125                    0
           16218157                                  580000                    2658.33                                            360                                      360                                         5.25                    0
           16218158                                  436800                     2320.5                                            360                                      360                                        6.125                    0
           16218159                                  564000                       3055                                            360                                      360                                         6.25                    0
           16218160                                  488861                    2393.38                                            360                                      360                                        5.625                    0
           16218161                                  127720                     718.43                                            360                                      360                                          6.5                    0
           16218162                                  616000                    3144.17                                            360                                      360                                        5.875                    0
           16218163                                  650000                    3588.54                                            360                                      360                                        6.375                    0
           16218164                                  535500                    2789.06                                            360                                      360                                            6                    0
           16218165                                  139200                        725                                            360                                      360                                            6                    0
           16218166                                  532000                    2770.83                                            360                                      360                                            6                    0
           16218167                                  700000                    3427.08                                            360                                      360                                        5.625                    0
           16218168                                  705000                    4332.81                                            360                                      360                                        7.125                    0
           16218169                                  881250                    4406.25                                            360                                      360                                         5.75                    0
           16218126                                 1100000                    5729.17                                            360                                      360                                            6                    0
           16218170                                  800000                       4250                                            360                                      360                                        6.125                    0
           16218171                                  528000                       2970                                            360                                      360                                          6.5                    0
           16218172                                  836000                       4180                                            360                                      360                                         5.75                    0
           16218173                                  567014                    2894.13                                            360                                      360                                        5.875                    0
           16218174                                  496000                       2480                                            360                                      360                                         5.75                    0
           16218175                                  592000                    2898.33                                            360                                      360                                        5.625                    0
           16218176                                 1068750                    6580.48                                            360                                      360                                            6                    0
           16218177                                  608000                       3230                                            360                                      360                                        6.125                    0
           16218178                                  650000                    3520.83                                            360                                      360                                         6.25                    0
           16218179                                  624000                       3120                                            360                                      360                                         5.75                    0
           16218180                                  632000                     2962.5                                            360                                      360                                        5.375                    0
           16218127                                  445600                    2413.67                                            360                                      359                                         6.25                    0
           16218128                                 1000000                       5625                                            360                                      360                                          6.5                    0
           16218129                                  417050                    2432.79                                            360                                      360                                         6.75                    0
           16218181                                  700000                    4196.85                                            360                                      360                                         5.75                    0
           16218182                                  979000                    4793.02                                            360                                      360                                        5.625                    0
           16218183                                  444000                    2358.75                                            360                                      360                                        6.125                    0
           16218184                                  440000                       2200                                            360                                      360                                         5.75                    0
           16218185                                  427000                    2629.11                                            360                                      360                                            6                    0
           16218130                                  212400                       1239                                            360                                      360                                         6.22                 0.53
           16218131                                  543000                    2828.13                                            360                                      359                                            6                    0
           16218132                                  495000                    2423.44                                            360                                      359                                        5.625                    0
           16218186                                  564800                    3431.78                                            360                                      360                                        5.875                    0
           16218187                                  617500                    3151.82                                            360                                      360                                        5.875                    0
           16218188                                  264000                       1375                                            360                                      360                                            6                    0
           16218189                                  466400                    2429.17                                            360                                      360                                            6                    0
           16218190                               559129.92                    2853.89                                            360                                      359                                        5.875                    0
           16218191                                  155990                     698.71                                            360                                      360                                        5.125                    0
           16218192                                  665000                    3394.27                                            360                                      360                                        5.875                    0
           16218193                                  472000                    2310.83                                            360                                      360                                        5.625                    0
           16218194                                  440000                    2291.67                                            360                                      360                                            6                    0
           16218195                                  576000                       3120                                            360                                      360                                         6.25                    0
           16218196                                  537600                    3223.18                                            360                                      360                                         5.75                    0
           16218197                                  235000                    1321.88                                            360                                      360                                          6.5                    0
           16218198                                  650000                    3723.96                                            360                                      360                                        6.625                    0
           16218199                                  245340                    1073.36                                            360                                      360                                         4.51                 0.49
           16218133                                  423500                     2117.5                                            360                                      360                                         5.75                    0
           16218134                                  435700                    2314.66                                            360                                      360                                        6.125                    0
           16218135                               499436.99                    3118.73                                            360                                      359                                        6.125                    0
           16218136                                  515000                    2735.94                                            360                                      360                                        6.125                    0
           16218137                                  880000                       4675                                            360                                      360                                        6.125                    0
           16218138                                  440000                    2154.17                                            360                                      359                                        5.625                    0
           16218139                                  446000                    2322.92                                            360                                      359                                            6                    0
           16218140                                  747870                    3583.54                                            360                                      360                                          5.5                    0
           16218141                                  460765                    2652.42                                            360                                      360                                        5.375                    0
           16218142                                  435050                    2401.84                                            360                                      359                                        6.375                    0
           16218143                                  568048                    2899.41                                            360                                      360                                        5.875                    0
           16218144                                  905600                    5565.67                                            360                                      360                                        7.125                    0
           16218145                                  878424                    4300.62                                            360                                      360                                        5.625                    0
           16218146                                  896000                    5228.81                                            360                                      360                                          5.5                    0
           16218147                                  500000                    3078.59                                            360                                      360                                            6                    0
           16218148                               449164.22                    2807.41                                            360                                      358                                        6.125                    0
           16218149                                  198560                     1116.9                                            360                                      360                                          6.5                    0
           16218100                                  787500                    4019.53                                            360                                      359                                        5.875                    0
           16218101                                  465350                    2132.85                                            360                                      359                                         5.25                    0
           16218102                                 1000000                    5208.33                                            360                                      359                                            6                    0
           16218103                                  623200                    3310.75                                            360                                      359                                        6.125                    0
           16218104                                  656000                       3690                                            360                                      360                                          6.5                    0
           16218105                                  456400                    2472.17                                            360                                      359                                         6.25                    0
           16218106                                  492000                    2613.75                                            360                                      358                                        6.125                    0
           16218113                                  476000                    2853.86                                            360                                      360                                         5.75                    0
           16218114                                  445700                    2460.64                                            360                                      360                                        6.375                    0
           16218115                                  580000                    3141.67                                            360                                      360                                         6.25                    0
           16218116                                  472500                     2362.5                                            360                                      359                                         5.75                    0
           16218117                                  562500                    3046.88                                            360                                      360                                         6.25                    0
           16218118                                  584908                    2985.47                                            360                                      360                                        5.875                    0
           16218119                                  991500                    4854.22                                            360                                      360                                        5.625                    0
           16218107                               483612.95                     3260.8                                            360                                      359                                        6.875                    0
           16218108                                  452600                    2357.29                                            360                                      359                                            6                    0
           16218109                                  496000                       2480                                            360                                      359                                         5.75                    0
           16218120                               596598.36                    3922.53                                            360                                      359                                        6.625                    0
           16218121                                  639950                    3666.38                                            360                                      359                                        6.625                    0
           16218122                                  542500                    3839.78                                            360                                      360                                        7.375                    0
           16218123                                  467550                    2483.86                                            360                                      360                                        6.125                    0
           16218124                                  471600                    2259.75                                            360                                      360                                          5.5                    0
           16218125                                  508000                     2857.5                                            360                                      360                                          6.5                    0
           16218110                                  444550                    2871.05                                            360                                      360                                          7.5                    0
           16218111                                  510000                       2550                                            360                                      360                                         5.75                    0
           16218112                                  535500                    2844.84                                            360                                      359                                        6.125                    0
           16218083                                  606154                    3220.19                                            360                                      360                                        6.125                    0
           16218084                                  510000                    2443.75                                            360                                      359                                          5.5                    0
           16218085                                  504000                       2415                                            360                                      360                                          5.5                    0
           16218086                                  908000                    4918.33                                            360                                      360                                         6.25                    0
           16218087                                  294392                    1533.29                                            360                                      360                                            6                    0
           16218088                                  960000                       4800                                            360                                      360                                         5.75                    0
           16218089                                  962500                    5013.02                                            360                                      359                                            6                    0
           16218090                               655830.66                    3883.45                                            360                                      359                                        5.625                    0
           16218091                               494495.33                    2928.11                                            360                                      359                                        5.625                    0
           16218092                                  561000                    3214.06                                            360                                      359                                        6.625                    0
           16218093                                  656000                    3985.93                                            360                                      360                                        5.875                    0
           16218094                                  697356                    3268.86                                            360                                      359                                        5.375                    0
           16218095                                  730000                    3726.04                                            360                                      359                                        5.875                    0
           16218096                               743069.39                    3792.75                                            360                                      359                                        5.875                    0
           16218097                               577447.45                    2947.39                                            360                                      359                                        5.875                    0
           16218098                                  452800                    2358.33                                            360                                      359                                            6                    0
           16218099                                 1000000                    6458.33                                            360                                      360                                          7.5                    0
           16218300                                  504000                       2520                                            360                                      360                                         5.75                    0
           16218301                                  452000                    2212.92                                            360                                      360                                        5.625                    0
           16218302                                  420000                    1968.75                                            360                                      360                                        5.375                    0
           16218303                                  560000                    2916.67                                            360                                      360                                            6                    0
           16218304                                 1000000                    5208.33                                            360                                      360                                            6                    0
           16218305                                  442400                    2304.17                                            360                                      360                                            6                    0
           16218306                                  719200                    4270.25                                            360                                      360                                        6.875                    0
           16218307                                  864000                    5390.24                                            360                                      360                                        6.125                    0
           16218308                                  435000                    2310.94                                            360                                      360                                        6.125                    0
           16218309                                  552000                     2932.5                                            360                                      360                                        6.125                    0
           16218310                                  448000                    2426.67                                            360                                      360                                         6.25                    0
           16218311                                  451950                     2589.3                                            360                                      360                                        6.625                    0
           16218312                                  435000                    2356.25                                            360                                      360                                         6.25                    0
           16218313                                  479200                    2845.25                                            360                                      360                                        6.875                    0
           16218314                                  751800                       3759                                            360                                      360                                         5.75                    0
           16218315                                  497600                    2983.36                                            360                                      360                                         5.75                    0
           16218316                                  908000                    5202.08                                            360                                      360                                        6.625                    0
           16218317                                 1540000                    8181.25                                            360                                      360                                        6.125                    0
           16218318                                  792000                       4455                                            360                                      360                                          6.5                    0
           16218319                                  430000                    2239.58                                            360                                      360                                            6                    0
           16218320                                  742000                    4019.17                                            360                                      360                                         6.25                    0
           16218321                                  824000                    4034.17                                            360                                      360                                        5.625                    0
           16218322                                  500000                    2760.42                                            360                                      360                                        6.375                    0
           16218323                                  560000                       2625                                            360                                      360                                        5.375                    0
           16218324                                  424000                    2164.17                                            360                                      360                                        5.875                    0
           16218325                                  670000                    3613.51                                            360                                      360                                         6.25                    0
           16218326                                  520000                    2491.67                                            360                                      360                                          5.5                    0
           16218327                                  646000                    3499.17                                            360                                      360                                         6.25                    0
           16218328                                  435000                    2492.19                                            360                                      360                                        6.625                    0
           16218329                                  708000                    3761.25                                            360                                      360                                        6.125                    0
           16218330                                  453111                    2454.35                                            360                                      360                                         6.25                    0
           16218331                                  457850                    2432.33                                            360                                      360                                        6.125                    0
           16218332                                  800000                    4083.33                                            360                                      360                                        5.875                    0
           16218220                                  540000                    3457.68                                            360                                      360                                        6.375                    0
           16218221                                  632000                    3423.33                                            360                                      360                                         6.25                    0
           16218222                                  696500                     3627.6                                            360                                      360                                            6                    0
           16218223                                  672000                    4137.62                                            360                                      360                                            6                    0
           16218224                                  504000                       2520                                            360                                      360                                         5.75                    0
           16218225                                  492000                    2408.75                                            360                                      360                                        5.625                    0
           16218200                                 1443750                    7218.75                                            360                                      360                                         5.75                    0
           16218201                                  850000                    5028.07                                            360                                      360                                        5.625                    0
           16218202                                 1000000                    5208.33                                            360                                      360                                            6                    0
           16218203                                 1020000                    5418.75                                            360                                      360                                        6.125                    0
           16218204                                  650000                    3385.42                                            360                                      360                                            6                    0
           16218205                                  579800                    3019.79                                            360                                      360                                            6                    0
           16218206                                  426400                    2522.32                                            360                                      360                                        5.625                    0
           16218207                                 1497900                    7801.56                                            360                                      360                                            6                    0
           16218208                                  595000                    2906.98                                            360                                      360                                        5.625                    0
           16218209                                  650000                    3385.42                                            360                                      360                                            6                    0
           16218210                                 1000000                    5208.33                                            360                                      360                                            6                    0
           16218211                                  736000                    3833.33                                            360                                      360                                            6                    0
           16218212                                  764000                    3979.17                                            360                                      360                                            6                    0
           16218213                                  800000                       4250                                            360                                      360                                        6.125                    0
           16218214                                  517173                    2693.61                                            360                                      360                                            6                    0
           16218215                                  478000                    2489.58                                            360                                      360                                            6                    0
           16218216                                  631500                     3157.5                                            360                                      360                                         5.75                    0
           16218217                                  428000                    2449.22                                            360                                      360                                        6.625                    0
           16218218                                  849473                    4158.88                                            360                                      360                                        5.625                    0
           16218256                                  696000                       3770                                            360                                      360                                         6.25                    0
           16218257                                  436800                       2366                                            360                                      360                                         6.25                    0
           16218258                                  496000                       2325                                            360                                      360                                        5.375                    0
           16218259                                 1110000                    4740.63                                            360                                      360                                        4.875                    0
           16218260                                  451700                    2671.98                                            360                                      360                                        5.625                    0
           16218261                                  448000                       2380                                            360                                      360                                        6.125                    0
           16218262                                  441000                    2159.06                                            360                                      360                                        5.625                    0
           16218263                                  151950                     854.72                                            360                                      360                                         5.92                 0.58
           16218264                                  584000                    2798.33                                            360                                      360                                          5.5                    0
           16218265                                  520000                     2762.5                                            360                                      360                                        6.125                    0
           16218266                                  860000                    4658.33                                            360                                      360                                         6.25                    0
           16218267                                  595200                       2914                                            360                                      360                                        5.625                    0
           16218268                                  716000                     4121.7                                            360                                      360                                        5.375                    0
           16218269                                  531200                    2434.67                                            360                                      360                                         5.25                    0
           16218253                                  476000                    2578.33                                            360                                      360                                         6.25                    0
           16218270                                  489300                    2548.44                                            360                                      360                                            6                    0
           16218271                                  464000                       2610                                            360                                      360                                          6.5                    0
           16218272                                  744000                       3720                                            360                                      360                                         5.75                    0
           16218273                                  590500                    3587.94                                            360                                      360                                        5.875                    0
           16218274                                  579600                    2958.38                                            360                                      360                                        5.875                    0
           16218275                                  550000                    2692.71                                            360                                      360                                        5.625                    0
           16218276                                  788000                    4842.92                                            360                                      360                                        7.125                    0
           16218277                                 1000000                    5729.17                                            360                                      360                                        6.625                    0
           16218278                                  650000                    3453.13                                            360                                      360                                        6.125                    0
           16218279                                  500000                    2447.92                                            360                                      360                                        5.625                    0
           16218280                                  650000                    4002.16                                            360                                      360                                            6                    0
           16218281                                  635000                       3175                                            360                                      360                                         5.75                    0
           16218282                                  808000                    3955.62                                            360                                      360                                        5.625                    0
           16218283                                  495202                     3008.9                                            360                                      360                                        5.875                    0
           16218284                                  650000                    3588.54                                            360                                      360                                        6.375                    0
           16218285                                  444000                    2081.25                                            360                                      360                                        5.375                    0
           16218286                                  504000                     2677.5                                            360                                      360                                        6.125                    0
           16218287                                  440000                    2291.15                                            360                                      360                                            6                    0
           16218288                                  443200                    2308.33                                            360                                      360                                            6                    0
           16218289                                  680000                    4022.46                                            360                                      360                                        5.625                    0
           16218290                                  460000                    2491.67                                            360                                      360                                         6.25                    0
           16218291                                  536000                    2959.17                                            360                                      360                                        6.375                    0
           16218292                                  494350                    2471.75                                            360                                      360                                         5.75                    0
           16218293                                  638050                    3589.03                                            360                                      360                                         6.11                 0.39
           16218294                                  530252                     3037.9                                            360                                      360                                        6.625                    0
           16218295                                  555001                    2832.82                                            360                                      360                                        5.875                    0
           16218296                                  448000                    2333.33                                            360                                      360                                            6                    0
           16218297                                  576000                       3000                                            360                                      360                                            6                    0
           16218298                                  600000                       3375                                            360                                      360                                          6.5                    0
           16218299                                  430000                    2239.58                                            360                                      360                                            6                    0
           16218254                                  640385                    3201.93                                            360                                      360                                         5.75                    0
           16218255                                  430000                    2543.61                                            360                                      360                                        5.625                    0
           16199805                               998905.44                    5677.89                                            360                                      359                                         5.25                    0
           16199806                               539499.85                     3368.9                                            360                                      359                                        6.125                    0
           16199807                                  650000                    3317.71                                            360                                      360                                        5.875                    0
           16199808                                  633900                    4217.35                                            360                                      360                                         6.75                    0
           16199809                                  620000                    3358.33                                            360                                      359                                         6.25                    0
           16199810                                 1200000                       6500                                            360                                      360                                         6.25                    0
           16199811                                  615200                    3268.25                                            360                                      360                                        6.125                    0
           16199812                                  430000                    2284.38                                            360                                      360                                        6.125                    0
           16199813                                  507200                    2483.17                                            360                                      360                                        5.625                    0
           16199814                                 1000000                    5208.33                                            360                                      360                                            6                    0
           16199815                                 1000000                    5416.67                                            360                                      360                                         6.25                    0
           16199816                                  624000                       3250                                            360                                      360                                            6                    0
           16199817                                  445000                    2410.42                                            360                                      360                                         6.25                    0
           16199818                               634425.95                    4013.63                                            360                                      359                                         6.25                    0
           16199819                                  900000                    4781.25                                            360                                      359                                        6.125                    0
           16199820                                  999999                    5520.83                                            360                                      360                                        6.375                    0
           16199821                                  789106                    4192.13                                            360                                      360                                        6.125                    0
           16199822                                  880000                    4308.33                                            360                                      360                                        5.625                    0
           16199823                                  710000                    3845.83                                            360                                      359                                         6.25                    0
           16199824                                  575692                    3118.33                                            360                                      359                                         6.25                    0
           16199825                                  540000                     2812.5                                            360                                      360                                            6                    0
           16199826                                  433910                    2305.15                                            360                                      359                                        6.125                    0
           16199827                                  492000                    3029.33                                            360                                      360                                            6                    0
           16199829                                  735000                    4465.94                                            360                                      360                                        5.875                    0
           16199830                                 1000000                    6403.11                                            360                                      360                                        6.375                    0
           16199831                                 1680000                       8225                                            360                                      360                                        5.625                    0
           16199832                                  540000                    2756.25                                            360                                      360                                        5.875                    0
           16199833                                  441000                    2342.81                                            360                                      360                                        6.125                    0
           16199834                                  711600                    3780.38                                            360                                      359                                        6.125                    0
           16199835                                  900000                    4406.25                                            360                                      360                                        5.625                    0
           16199836                                  500000                    2604.17                                            360                                      360                                            6                    0
           16199837                                  533450                    2833.95                                            360                                      359                                        6.125                    0
           16199838                                  450000                       2250                                            360                                      360                                         5.75                    0
           16199839                                  527200                    3020.42                                            360                                      360                                        6.625                    0
           16199840                                  512000                    3152.47                                            360                                      360                                            6                    0
           16199841                                  964000                    5020.83                                            360                                      360                                            6                    0
           16199842                                  960000                       5100                                            360                                      360                                        6.125                    0
           16199843                                  469000                    2589.27                                            360                                      360                                        6.375                    0
           16199844                                  440000                    2291.67                                            360                                      360                                            6                    0
           16199845                                  720000                       3900                                            360                                      360                                         6.25                    0
           16199846                                  567000                    3491.12                                            360                                      360                                            6                    0
           16199847                                  750000                    3984.38                                            360                                      360                                        6.125                    0
           16199848                                  700000                    4367.09                                            360                                      360                                        6.125                    0
           16199849                                  458105                     2481.4                                            360                                      360                                         6.25                    0
           16199850                                  740000                    4008.33                                            360                                      360                                         6.25                    0
           16199851                                  520000                     2762.5                                            360                                      360                                        6.125                    0
           16199852                                  622000                    3174.79                                            360                                      359                                        5.875                    0
           16199853                               649949.79                    3317.45                                            360                                      357                                        5.875                    0
           16199854                                795395.1                    4724.47                                            360                                      356                                        5.625                    0
           16199855                                  596000                    3573.32                                            360                                      360                                         5.75                    0
           16199795                                  532000                    2826.25                                            360                                      360                                        6.125                    0
           16199796                                  559200                    2854.25                                            360                                      360                                        5.875                    0
           16199797                                  788000                    4104.17                                            360                                      360                                            6                    0
           16199798                                 1000000                     5312.5                                            360                                      360                                        6.125                    0
           16199799                                  438400                    2278.98                                            360                                      360                                            6                    0
           16199705                                  499000                    2650.94                                            360                                      360                                        6.125                    0
           16199706                                  479000                     2345.1                                            360                                      359                                        5.625                    0
           16199707                                  445000                    2456.77                                            360                                      359                                        6.375                    0
           16199708                                  545000                    3008.85                                            360                                      360                                        6.375                    0
           16199709                                  475000                    2473.96                                            360                                      360                                            6                    0
           16199710                                  510000                    2709.38                                            360                                      359                                        6.125                    0
           16199711                                  800000                    4083.33                                            360                                      360                                        5.875                    0
           16199712                                  679347                    4238.24                                            360                                      360                                        6.125                    0
           16199713                                  640000                       3400                                            360                                      360                                        6.125                    0
           16199714                                  538400                       2692                                            360                                      359                                         5.75                    0
           16199715                                  768000                       4160                                            360                                      356                                         6.25                    0
           16199716                                  590000                    3195.83                                            360                                      358                                         6.25                    0
           16199717                               584431.42                    3554.52                                            360                                      359                                        5.875                    0
           16199718                                  548000                    3025.42                                            360                                      357                                        6.375                    0
           16199719                                  577600                    3188.83                                            360                                      359                                        6.375                    0
           16199700                                  665250                    3603.44                                            360                                      359                                         6.25                    0
           16199701                                  475000                     2622.4                                            360                                      359                                        6.375                    0
           16199702                                  457000                    2380.21                                            360                                      360                                            6                    0
           16199703                                  456000                     2422.5                                            360                                      359                                        6.125                    0
           16199704                                 1075000                    5710.94                                            360                                      359                                        6.125                    0
           16199787                                  680000                    3329.17                                            360                                      359                                        5.625                    0
           16199788                                  443920                    2358.33                                            360                                      360                                        6.125                    0
           16199789                               425998.56                    2351.87                                            360                                      359                                        6.375                    0
           16199790                                  480000                       2500                                            360                                      360                                            6                    0
           16199791                                  620000                    3358.33                                            360                                      360                                         6.25                    0
           16199792                                  650000                    3317.71                                            360                                      359                                        5.875                    0
           16199793                                  600000                     3187.5                                            360                                      360                                        6.125                    0
           16199794                                  515000                    2682.29                                            360                                      359                                            6                    0
           16199690                                  770000                    4251.04                                            360                                      360                                        6.375                    0
           16199691                                  540000                     2812.5                                            360                                      359                                            6                    0
           16199692                                  530000                    2815.63                                            360                                      359                                        6.125                    0
           16199693                                  437500                    2460.94                                            360                                      359                                          6.5                    0
           16199694                                  595000                    3160.94                                            360                                      359                                        6.125                    0
           16199695                                  925000                    4817.71                                            360                                      360                                            6                    0
           16199696                               514867.83                    2929.79                                            360                                      358                                         5.25                    0
           16199697                                  607000                    3287.92                                            360                                      360                                         6.25                    0
           16199698                                  519925                     2924.7                                            360                                      359                                          6.5                    0
           16199699                                  900000                    4781.25                                            360                                      359                                        6.125                    0
           16199680                                  475000                    2424.48                                            360                                      359                                        5.875                    0
           16199681                                  454950                    2464.31                                            360                                      359                                         6.25                    0
           16199682                               499760.42                    2759.89                                            360                                      359                                        6.375                    0
           16199683                                  516000                    2848.75                                            360                                      359                                        6.375                    0
           16199684                                578501.5                    3755.38                                            360                                      359                                          6.5                    0
           16199685                                  510000                    2709.38                                            360                                      360                                        6.125                    0
           16199686                                  556000                     3127.5                                            360                                      359                                          6.5                    0
           16199687                                  714000                     3867.5                                            360                                      359                                         6.25                    0
           16199688                                  850000                    4338.54                                            360                                      359                                        5.875                    0
           16199689                                  566250                     3008.2                                            360                                      359                                        6.125                    0
           16199663                               759930.48                    4037.13                                            360                                      359                                        6.125                    0
           16199664                                  490000                    3011.46                                            360                                      359                                        7.125                    0
           16199665                                  465600                       2425                                            360                                      359                                            6                    0
           16199666                                  510600                    2446.63                                            360                                      359                                          5.5                    0
           16199667                               649796.17                     3519.8                                            360                                      359                                         6.25                    0
           16199668                                 1610000                    8553.13                                            360                                      360                                        6.125                    0
           16199669                                  876000                    4653.75                                            360                                      359                                        6.125                    0
           16199670                                  574300                    3110.79                                            360                                      359                                         6.25                    0
           16199671                               799184.36                    4732.31                                            360                                      359                                        5.625                    0
           16199672                                  531500                    2712.86                                            360                                      359                                        5.875                    0
           16199673                               479566.07                    3033.93                                            360                                      359                                         6.25                    0
           16199674                                  624000                       3380                                            360                                      359                                         6.25                    0
           16199675                                  496000                    2583.33                                            360                                      359                                            6                    0
           16199676                                  500000                    2656.25                                            360                                      360                                        6.125                    0
           16199677                               759926.25                    4037.24                                            360                                      359                                        6.125                    0
           16199678                                  640000                    3466.67                                            360                                      360                                         6.25                    0
           16199679                                  525000                    2789.06                                            360                                      359                                        6.125                    0
           16199753                               591336.67                    3454.75                                            360                                      359                                          5.5                    0
           16199754                                  675000                    4046.97                                            360                                      360                                         5.75                    0
           16199760                               899971.45                     4593.6                                            360                                      359                                        5.875                    0
           16199762                                 1122000                     6077.5                                            360                                      360                                         6.25                    0
           16199763                                  776000                     4122.5                                            360                                      359                                        6.125                    0
           16199764                               439966.52                    2570.38                                            360                                      359                                          5.5                    0
           16199765                                  580000                    3141.67                                            360                                      360                                         6.25                    0
           16199766                               609868.96                    3366.98                                            360                                      359                                        6.375                    0
           16199767                                  508792                    2649.96                                            360                                      360                                            6                    0
           16199768                                  492000                     2562.5                                            360                                      360                                            6                    0
           16199769                                  460000                    2395.83                                            360                                      360                                            6                    0
           16199770                               441942.13                    2347.83                                            360                                      359                                        6.125                    0
           16199771                                  500000                    3119.35                                            360                                      360                                        6.125                    0
           16199772                                  655000                       3275                                            360                                      360                                         5.75                    0
           16199773                                  650000                    3317.71                                            360                                      360                                        5.875                    0
           16199774                                  548000                    2854.17                                            360                                      360                                            6                    0
           16199775                                 1000000                    5995.51                                            360                                      360                                         5.75                    0
           16199776                                  424000                    2296.67                                            360                                      360                                         6.25                    0
           16199777                                  757535                    4103.31                                            360                                      359                                         6.25                    0
           16199778                                  584500                    3106.49                                            360                                      359                                        6.125                    0
           16199779                                  880000                       4675                                            360                                      359                                        6.125                    0
           16199780                                  671200                    3565.75                                            360                                      360                                        6.125                    0
           16199781                                  468000                    2486.25                                            360                                      360                                        6.125                    0
           16199782                                  570068                     2969.1                                            360                                      360                                            6                    0
           16199783                                  650000                    3453.13                                            360                                      359                                        6.125                    0
           16199784                                  530000                    3220.34                                            360                                      360                                        5.875                    0
           16199785                                  488000                    3044.49                                            360                                      360                                        6.125                    0
           16199786                                  448000                       2380                                            360                                      360                                        6.125                    0
           16199755                               665490.91                    3535.42                                            360                                      359                                        6.125                    0
           16199756                                  535200                    2786.39                                            360                                      360                                            6                    0
           16199757                                  592000                    3268.33                                            360                                      359                                        6.375                    0
           16199758                                  584000                    3041.67                                            360                                      359                                            6                    0
           16199759                                  540000                       2925                                            360                                      360                                         6.25                    0
           16199632                                  497336                    2590.29                                            360                                      359                                            6                    0
           16199633                               485945.78                    2847.83                                            360                                      356                                          5.5                    0
           16199634                                  492269                    2358.79                                            360                                      356                                          5.5                    0
           16199635                                  720000                       3525                                            360                                      360                                        5.625                    0
           16199636                                  610992                    3118.61                                            360                                      360                                        5.875                    0
           16199637                                  783175                     4242.2                                            360                                      360                                         6.25                    0
           16199638                                  450000                     2437.5                                            360                                      359                                         6.25                    0
           16199639                                  550000                       2750                                            360                                      360                                         5.75                    0
           16199640                                  500000                       2500                                            360                                      360                                         5.75                    0
           16199641                               448117.66                    2653.49                                            360                                      359                                        5.625                    0
           16199642                                  984725                     5026.2                                            360                                      360                                        5.875                    0
           16199643                                  443576                    2217.88                                            360                                      360                                         5.75                    0
           16199644                               457001.01                       2285                                            360                                      359                                         5.75                    0
           16199645                                  468715                    2343.58                                            360                                      360                                         5.75                    0
           16199646                                  469171                    2345.86                                            360                                      359                                         5.75                    0
           16199647                                  478600                    2692.13                                            360                                      356                                          6.5                    0
           16199648                                  500000                    2552.08                                            360                                      359                                        5.875                    0
           16199649                                  580000                    3141.67                                            360                                      359                                         6.25                    0
           16199650                                 1300000                    7177.08                                            360                                      359                                        6.375                    0
           16199651                                  560000                    3033.33                                            360                                      358                                         6.25                    0
           16199652                               480349.56                    2552.04                                            360                                      358                                        6.125                    0
           16199653                                  527900                    2749.64                                            360                                      358                                            6                    0
           16199654                                  496000                       2635                                            360                                      359                                        6.125                    0
           16199655                                  630000                    3215.63                                            360                                      359                                        5.875                    0
           16199656                                  514000                    2677.08                                            360                                      359                                            6                    0
           16199657                                  710000                    3845.83                                            360                                      359                                         6.25                    0
           16199658                                965246.8                    4926.78                                            360                                      359                                        5.875                    0
           16199659                               421927.42                    2704.03                                            360                                      359                                        6.375                    0
           16199660                               1492187.5                    7805.72                                            360                                      359                                            6                    0
           16199661                                  699000                    3640.63                                            360                                      359                                            6                    0
           16199662                               699053.15                    4196.85                                            360                                      359                                         5.75                    0
           16199723                               649412.39                    4108.44                                            360                                      359                                         6.25                    0
           16199724                                  447330                    2283.25                                            360                                      360                                        5.875                    0
           16199725                                 1860000                     9687.5                                            360                                      358                                            6                    0
           16199726                                  580148                    2840.31                                            360                                      360                                        5.625                    0
           16199727                                  596872                    2984.36                                            360                                      360                                         5.75                    0
           16199728                                  510000                    2598.55                                            360                                      360                                        5.875                    0
           16199729                                 1000000                    5104.17                                            360                                      359                                        5.875                    0
           16199730                                  568000                    3543.58                                            360                                      360                                        6.125                    0
           16199731                                  420000                     2012.5                                            360                                      360                                          5.5                    0
           16199732                                  492000                    2511.25                                            360                                      359                                        5.875                    0
           16199733                                  572000                    3038.75                                            360                                      358                                        6.125                    0
           16199734                                  679920                     3682.9                                            360                                      360                                         6.25                    0
           16199735                                  488000                    2643.33                                            360                                      360                                         6.25                    0
           16199736                                  696000                     3697.5                                            360                                      359                                        6.125                    0
           16199737                                  597200                    2923.79                                            360                                      360                                        5.625                    0
           16199738                                  540000                     2362.5                                            360                                      360                                            5                    0
           16199739                                  601800                    3134.38                                            360                                      359                                            6                    0
           16199740                                  608000                       3230                                            360                                      360                                        6.125                    0
           16199741                                  480000                       2550                                            360                                      359                                        6.125                    0
           16199742                                  440000                    2383.33                                            360                                      360                                         6.25                    0
           16199743                                  620000                       3100                                            360                                      359                                         5.75                    0
           16199744                                  500000                    2447.92                                            360                                      360                                        5.625                    0
           16199745                                  471920                    2507.08                                            360                                      360                                        6.125                    0
           16199746                                  599500                    2997.83                                            360                                      359                                         5.75                    0
           16199747                                  560000                    3091.67                                            360                                      359                                        6.375                    0
           16199748                                  465500                    2424.48                                            360                                      360                                            6                    0
           16199749                                  975000                    5078.13                                            360                                      360                                            6                    0
           16199750                                  532000                    2770.83                                            360                                      359                                            6                    0
           16199751                                  654000                    3474.38                                            360                                      359                                        6.125                    0
           16199752                                 1000000                    5208.33                                            360                                      360                                            6                    0
           16199720                               559063.93                    2795.32                                            360                                      358                                         5.75                    0
           16199721                                 1000000                     5312.5                                            360                                      360                                        6.125                    0
           16199722                               499954.17                    2603.94                                            360                                      359                                            6                    0
           16232382                                  468000                     2242.5                                            360                                      352                                          5.5                    0
           16199856                                  500000                    2656.25                                            360                                      359                                        6.125                    0
           16199857                                  999900                    5832.75                                            360                                      360                                         6.75                    0
           16199800                                  904000                    5566.08                                            360                                      360                                            6                    0
           16199801                                  460000                    2395.83                                            360                                      360                                            6                    0
           16199802                                  650000                    3182.29                                            360                                      360                                        5.625                    0
           16199803                                 1500000                    7656.25                                            360                                      360                                        5.875                    0
           16199804                                  452000                    2448.33                                            360                                      360                                         6.25                    0
           16218700                                  456000                     2517.5                                            360                                      360                                        6.375                    0
           16218701                                  837000                    4359.38                                            360                                      360                                            6                    0
           16218702                                  439500                    2426.41                                            360                                      360                                        6.375                    0
           16218703                                  623200                    3245.83                                            360                                      360                                            6                    0
           16218704                                  450000                       2625                                            360                                      360                                         6.75                    0
           16218705                                  808000                    4629.17                                            360                                      360                                        6.625                    0
           16218706                                  496000                    2893.33                                            360                                      360                                         6.75                    0
           16218707                                  608000                    3293.33                                            360                                      360                                         6.25                    0
           16218708                                  560000                    3312.61                                            360                                      360                                        5.625                    0
           16218709                                  735500                    3907.34                                            360                                      360                                        6.125                    0
           16218710                                  600000                       3250                                            360                                      360                                         6.25                    0
           16218711                                  528000                       2750                                            360                                      360                                            6                    0
           16218712                                  500000                    2343.75                                            360                                      360                                        5.375                    0
           16218713                                  920000                    4791.67                                            360                                      360                                            6                    0
           16218714                                  550000                    2692.71                                            360                                      360                                        5.625                    0
           16218715                                  482838                    2514.78                                            360                                      360                                            6                    0
           16218716                                  450000                    2531.25                                            360                                      360                                          6.5                    0
           16218717                                  794664                     4056.1                                            360                                      360                                        5.875                    0
           16218718                                  465600                     2473.5                                            360                                      360                                        6.125                    0
           16218719                                  956000                    5178.33                                            360                                      360                                         6.25                    0
           16218720                                  420000                    2318.75                                            360                                      360                                        6.375                    0
           16218721                                  511200                       2769                                            360                                      360                                         6.25                    0
           16218722                                  488000                     2592.5                                            360                                      360                                        6.125                    0
           16218723                                  592000                    3453.33                                            360                                      360                                         6.75                    0
           16218724                                  822352                    4540.07                                            360                                      360                                        6.375                    0
           16218725                                  572405                     3279.4                                            360                                      360                                        6.625                    0
           16218624                                  680000                    3683.33                                            360                                      360                                         6.25                    0
           16218625                                  596000                       2980                                            360                                      360                                         5.75                    0
           16218626                                  520000                    2708.33                                            360                                      360                                            6                    0
           16218627                                  548000                    2797.08                                            360                                      360                                        5.875                    0
           16218628                                  429250                    2190.96                                            360                                      360                                        5.875                    0
           16218629                                  424000                    2340.83                                            360                                      359                                        6.375                    0
           16218630                                  496160                    2635.85                                            360                                      360                                        6.125                    0
           16218631                                  566400                       3540                                            360                                      360                                         7.25                    0
           16218632                                  427016                    2135.08                                            360                                      360                                         5.75                    0
           16218633                                  880000                    4491.67                                            360                                      360                                        5.875                    0
           16218634                                  564000                     2937.5                                            360                                      360                                            6                    0
           16218635                                  550000                    2807.29                                            360                                      360                                        5.875                    0
           16218636                                  622950                    3309.42                                            360                                      360                                        6.125                    0
           16218637                                  540000                    2868.75                                            360                                      360                                        6.125                    0
           16218638                                  495200                       2476                                            360                                      360                                         5.75                    0
           16218639                                  600000                       3125                                            360                                      360                                            6                    0
           16218640                                 2000000                   10416.67                                            360                                      360                                            6                    0
           16218641                                  552000                     2932.5                                            360                                      360                                        6.125                    0
           16218642                                  995000                    5806.55                                            360                                      360                                          5.5                    0
           16218643                                  860000                     4837.5                                            360                                      360                                          6.5                    0
           16218644                                  450000                     2437.5                                            360                                      360                                         6.25                    0
           16218645                                  480000                       2450                                            360                                      360                                        5.875                    0
           16218646                                  500000                    2447.92                                            360                                      360                                        5.625                    0
           16218647                                 1965000                   10234.38                                            360                                      360                                            6                    0
           16218648                                  579200                    2835.67                                            360                                      360                                        5.625                    0
           16218649                                  650000                    3385.42                                            360                                      360                                            6                    0
           16218650                               475503.02                    2777.81                                            360                                      359                                          5.5                    0
           16218651                               649337.29                       3845                                            360                                      359                                        5.625                    0
           16218652                                  614000                    3325.83                                            360                                      360                                         6.25                    0
           16218653                                  565000                       3433                                            360                                      360                                        5.875                    0
           16218654                                  639680                    3065.13                                            360                                      360                                          5.5                    0
           16218655                                  700000                    3718.75                                            360                                      360                                        6.125                    0
           16218656                                  640000                       3600                                            360                                      360                                          6.5                    0
           16218657                                  880000                    4858.33                                            360                                      360                                        6.375                    0
           16218658                                  464000                    2269.18                                            360                                      360                                        5.625                    0
           16218659                                  596000                    3414.58                                            360                                      360                                        6.625                    0
           16218660                                  529150                    2811.11                                            360                                      360                                        6.125                    0
           16218661                                  444000                       2220                                            360                                      360                                         5.75                    0
           16218662                                  540000                     3281.1                                            360                                      360                                        5.875                    0
           16218663                                  479960                    2699.78                                            360                                      360                                          6.5                    0
           16218664                                  600000                     3187.5                                            360                                      360                                        6.125                    0
           16218665                                  765000                    3904.69                                            360                                      360                                        5.875                    0
           16218666                                  740000                    4985.52                                            360                                      360                                        6.875                    0
           16218667                                  726800                    4475.03                                            360                                      360                                            6                    0
           16218668                                  650000                    3453.13                                            360                                      360                                        6.125                    0
           16218669                                  450000                    1968.75                                            360                                      360                                            5                    0
           16218670                                  856000                       4280                                            360                                      360                                         5.75                    0
           16218671                                  431950                    2659.59                                            360                                      360                                            6                    0
           16218672                                  500000                    2656.25                                            360                                      360                                        6.125                    0
           16218673                                  480000                       2550                                            360                                      359                                        6.125                    0
           16218674                                  590000                    3490.07                                            360                                      360                                        5.625                    0
           16218675                                  655960                    3484.79                                            360                                      360                                        6.125                    0
           16218676                                  560000                    3033.16                                            360                                      360                                         6.25                    0
           16218677                                  696000                       3625                                            360                                      360                                            6                    0
           16218678                                  738000                    3766.88                                            360                                      360                                        5.875                    0
           16218679                                  650000                    3927.08                                            360                                      360                                            7                    0
           16218680                                  565000                     3478.8                                            360                                      360                                            6                    0
           16218681                                  495000                    2423.44                                            360                                      360                                        5.625                    0
           16218682                                  956000                    4879.58                                            360                                      360                                        5.875                    0
           16218683                                  480000                       2750                                            360                                      360                                        6.625                    0
           16218684                                  440000                    2673.49                                            360                                      360                                        5.875                    0
           16218685                                  460800                       2544                                            360                                      360                                        6.375                    0
           16218686                                  479900                    2954.83                                            360                                      360                                            6                    0
           16218687                                  800000                    4416.67                                            360                                      360                                        6.375                    0
           16218688                                  460000                    2683.33                                            360                                      360                                         6.75                    0
           16218689                                  537000                    2796.88                                            360                                      360                                            6                    0
           16218690                                  470000                    2545.83                                            360                                      360                                         6.25                    0
           16218691                                  546000                     2957.5                                            360                                      360                                         6.25                    0
           16218692                                  634209                    3765.62                                            360                                      360                                        6.875                    0
           16218693                                  638000                    3928.28                                            360                                      360                                            6                    0
           16218694                                  500000                    2604.17                                            360                                      360                                            6                    0
           16218695                                  629600                    3279.17                                            360                                      360                                            6                    0
           16218696                                  499200                       2704                                            360                                      360                                         6.25                    0
           16218697                                 1000000                       5625                                            360                                      360                                          6.5                    0
           16218608                                  580065                    2416.94                                            360                                      359                                         4.75                    0
           16218609                                  861000                    4663.75                                            360                                      360                                         6.25                    0
           16218698                                  419050                    2182.55                                            360                                      360                                            6                    0
           16218699                                  541000                    2874.06                                            360                                      360                                        6.125                    0
           16223053                               447929.27                    2556.26                                            360                                      360                                        6.625                    0
           16223054                                 1350000                    7031.25                                            360                                      360                                            6                    0
           16223055                                  575000                    3054.69                                            360                                      360                                        6.125                    0
           16223056                                  440000                    2245.83                                            360                                      360                                        5.875                    0
           16223057                                  575000                     2934.9                                            360                                      360                                        5.875                    0
           16223058                                  450871                    2395.25                                            360                                      360                                        6.125                    0
           16223059                                  607000                    3287.92                                            360                                      360                                         6.25                    0
           16218610                                  439920                    2428.72                                            360                                      359                                        6.375                    0
           16218611                                  440000                       2475                                            360                                      360                                          6.5                    0
           16218612                                  580000                    3081.25                                            360                                      360                                        6.125                    0
           16218613                                  631200                       3419                                            360                                      360                                         6.25                    0
           16218614                                  470400                    2934.68                                            360                                      360                                        6.125                    0
           16218615                                  780000                     4062.5                                            360                                      360                                            6                    0
           16218616                                  551600                    2930.38                                            360                                      360                                        6.125                    0
           16218617                                  543000                    2828.13                                            360                                      360                                            6                    0
           16218618                                  542350                    2881.23                                            360                                      359                                        6.125                    0
           16218619                                  507600                    2696.63                                            360                                      359                                        6.125                    0
           16218620                                  441000                    2342.81                                            360                                      360                                        6.125                    0
           16218621                                  436000                    2361.67                                            360                                      359                                         6.25                    0
           16218622                                  584000                       2920                                            360                                      360                                         5.75                    0
           16218623                               551450.48                    3309.52                                            360                                      359                                         5.75                    0
           16218600                                  731200                     3884.5                                            360                                      359                                        6.125                    0
           16218601                                  500000                    2656.25                                            360                                      360                                        6.125                    0
           16218602                                  569000                    2904.27                                            360                                      360                                        5.875                    0
           16218603                                  450000                     2437.5                                            360                                      360                                         6.25                    0
           16218604                                 1000000                    5729.17                                            360                                      359                                        6.625                    0
           16218605                                  640000                    3666.67                                            360                                      360                                        6.625                    0
           16218606                                  646100                    4030.82                                            360                                      360                                        6.125                    0
           16218607                                  618000                    3283.13                                            360                                      359                                        6.125                    0
           16218597                                  485100                    2627.63                                            360                                      360                                         6.25                    0
           16218598                                659388.7                    4117.55                                            360                                      359                                        6.125                    0
           16218599                                  733694                    4127.03                                            360                                      360                                          6.5                    0
           16218570                                  794204                    4301.94                                            360                                      360                                         6.25                    0
           16218571                                  499900                    3159.71                                            360                                      360                                         6.25                    0
           16218572                                  788339                    4352.29                                            360                                      360                                        6.375                    0
           16218573                                  620000                       3100                                            360                                      360                                         5.75                    0
           16218574                                  727284                     3863.7                                            360                                      360                                        6.125                    0
           16218575                                  455000                    2796.35                                            360                                      360                                        7.125                    0
           16218576                               534539.38                       3470                                            360                                      359                                          6.5                    0
           16218577                               799259.04                    4990.96                                            360                                      359                                        6.125                    0
           16218578                                 1352500                     6762.5                                            360                                      359                                         5.75                    0
           16218579                               959089.11                    5910.89                                            360                                      359                                            6                    0
           16218580                                  574500                    2932.34                                            360                                      360                                        5.875                    0
           16218581                                  650000                    3656.25                                            360                                      359                                          6.5                    0
           16218582                                  501500                     3029.9                                            360                                      359                                            7                    0
           16218583                                  560000                    2916.67                                            360                                      360                                            6                    0
           16218584                                  521500                     2607.5                                            360                                      359                                         5.75                    0
           16218585                                  425000                    2257.81                                            360                                      359                                        6.125                    0
           16218586                                  569240                    3024.09                                            360                                      359                                        6.125                    0
           16218587                                 1000000                     6238.7                                            360                                      360                                        6.125                    0
           16218588                                  468000                    2486.25                                            360                                      360                                        6.125                    0
           16218589                                  680000                    3754.17                                            360                                      360                                        6.375                    0
           16218590                                  440000                    2383.33                                            360                                      360                                         6.25                    0
           16218591                                  520000                    2870.83                                            360                                      360                                        6.375                    0
           16218592                                  490000                    2756.25                                            360                                      360                                          6.5                    0
           16218593                                  458100                     2895.5                                            360                                      360                                         6.25                    0
           16218594                                  586350                    3950.35                                            360                                      360                                        6.875                    0
           16218595                                  572000                       2860                                            360                                      359                                         5.75                    0
           16218596                                  597100                     3047.7                                            360                                      360                                        5.875                    0
           16232384                               899999.75                    4031.25                                            360                                      350                                        5.125                    0
           16218960                                 2000000                      10625                                            360                                      360                                        6.125                    0
           16218961                                  540000                       2925                                            360                                      360                                         6.25                    0
           16218962                                 1470000                    7503.13                                            360                                      360                                        5.875                    0
           16218963                                  496000                    2841.67                                            360                                      360                                        6.625                    0
           16218964                                  500000                    2447.92                                            360                                      360                                        5.625                    0
           16218965                                  639960                    3940.34                                            360                                      360                                            6                    0
           16218966                                  157000                      605.1                                            360                                      360                                         4.25                    0
           16218967                                 1179300                    6265.03                                            360                                      360                                        6.125                    0
           16218968                                  580000                    3081.25                                            360                                      360                                        6.125                    0
           16218969                                  830000                    4668.75                                            360                                      360                                          6.5                    0
           16218970                                 1100000                    5729.17                                            360                                      360                                            6                    0
           16218971                                  748000                    3973.75                                            360                                      360                                        6.125                    0
           16218972                                  509000                    2648.69                                            360                                      360                                            6                    0
           16218973                                  550000                    3386.44                                            360                                      360                                            6                    0
           16218974                                  704500                    3816.04                                            360                                      360                                         6.25                    0
           16218975                                  421718                    2239.66                                            360                                      360                                        6.125                    0
           16218976                                  645000                    3292.19                                            360                                      360                                        5.875                    0
           16218977                                  530000                    2815.63                                            360                                      360                                        6.125                    0
           16218978                                  450000                    2343.75                                            360                                      360                                            6                    0
           16218979                                 1000000                    5416.67                                            360                                      360                                         6.25                    0
           16218980                                  430000                    2329.17                                            360                                      360                                         6.25                    0
           16218981                                  984000                     5022.5                                            360                                      360                                        5.875                    0
           16218982                                  604000                    3145.83                                            360                                      360                                            6                    0
           16218983                                  650000                    3588.54                                            360                                      360                                        6.375                    0
           16218984                                  588000                     3062.5                                            360                                      360                                            6                    0
           16218985                                  535000                    2953.65                                            360                                      360                                        6.375                    0
           16218986                                  448000                       2380                                            360                                      360                                        6.125                    0
           16218987                                  432000                       2250                                            360                                      360                                            6                    0
           16218988                                 1192300                    6830.89                                            360                                      360                                        6.625                    0
           16218989                                  800000                    4166.67                                            360                                      360                                            6                    0
           16218990                                  479200                    2495.83                                            360                                      360                                            6                    0
           16218991                                  709200                    3693.75                                            360                                      360                                            6                    0
           16218992                                  536250                    2960.55                                            360                                      360                                        6.375                    0
           16218993                                 1455000                    7729.69                                            360                                      360                                        6.125                    0
           16218994                                  733000                       3665                                            360                                      360                                         5.75                    0
           16218995                                 1100000                    5843.75                                            360                                      360                                        6.125                    0
           16218996                                  650000                    3385.42                                            360                                      360                                            6                    0
           16218997                                  460964                    2544.91                                            360                                      360                                        6.375                    0
           16218998                                  420000                     2187.5                                            360                                      360                                            6                    0
           16218999                                  567000                    2953.13                                            360                                      360                                            6                    0
           16218940                                  500000                    2604.17                                            360                                      360                                            6                    0
           16218941                                  600000                     3187.5                                            360                                      360                                        6.125                    0
           16218942                                  956000                       4780                                            360                                      360                                         5.75                    0
           16218943                                  431200                    2200.92                                            360                                      360                                        5.875                    0
           16218944                                  467000                       2335                                            360                                      360                                         5.75                    0
           16218945                                  572800                    3526.83                                            360                                      360                                            6                    0
           16218946                                  532560                    2829.23                                            360                                      360                                        6.125                    0
           16218947                                  600000                     3062.5                                            360                                      360                                        5.875                    0
           16218948                                  460000                    2491.67                                            360                                      360                                         6.25                    0
           16218949                                  995000                    5493.23                                            360                                      360                                        6.375                    0
           16218950                                  548000                    2911.25                                            360                                      360                                        6.125                    0
           16218951                                  829200                    4318.75                                            360                                      360                                            6                    0
           16218952                                  560000                    2916.67                                            360                                      360                                            6                    0
           16218953                                  680000                    3895.83                                            360                                      360                                        6.625                    0
           16218954                                  800000                    4083.33                                            360                                      360                                        5.875                    0
           16218955                                  760000                    4116.67                                            360                                      360                                         6.25                    0
           16218956                                  605400                    3342.31                                            360                                      360                                        6.375                    0
           16218957                                  744000                       4030                                            360                                      360                                         6.25                    0
           16218958                                  780000                    4468.75                                            360                                      360                                        6.625                    0
           16218959                                  440000                     2337.5                                            360                                      360                                        6.125                    0
           16218930                                  620600                    2844.42                                            360                                      360                                         5.25                    0
           16218931                                  488000                     2287.5                                            360                                      359                                        5.375                    0
           16218932                                  864000                       4410                                            360                                      360                                        5.875                    0
           16218933                                  596070                    3525.98                                            360                                      360                                        5.625                    0
           16218934                                  515000                    2682.29                                            360                                      360                                            6                    0
           16218935                                  440000                    2520.83                                            360                                      360                                        6.625                    0
           16218936                                  600000                     3062.5                                            360                                      360                                        5.875                    0
           16218937                                  525000                    2789.06                                            360                                      360                                        6.125                    0
           16218938                                  420000                    2318.75                                            360                                      360                                        6.375                    0
           16218939                                  623200                    3245.83                                            360                                      360                                            6                    0
           16218885                                  436670                    2183.35                                            360                                      360                                         5.75                    0
           16218886                                  436320                    2136.15                                            360                                      360                                        5.625                    0
           16218887                                  448550                    2242.75                                            360                                      360                                         5.75                    0
           16218888                                 1000000                    5416.67                                            360                                      356                                         6.25                    0
           16218889                                 1000000                       5000                                            360                                      359                                         5.75                    0
           16218890                                  452000                    2401.25                                            360                                      360                                        6.125                    0
           16218891                                  496000                    2583.33                                            360                                      360                                            6                    0
           16218892                                  896250                    4574.61                                            360                                      359                                        5.875                    0
           16218893                                  543600                       2718                                            360                                      359                                         5.75                    0
           16218894                               495585.08                    2594.04                                            360                                      359                                            6                    0
           16218895                                  600000                     3437.5                                            360                                      359                                        6.625                    0
           16218896                                  715000                    4460.67                                            360                                      360                                        6.125                    0
           16218897                                  568000                    2958.33                                            360                                      360                                            6                    0
           16218898                                  500000                    2708.33                                            360                                      359                                         6.25                    0
           16218899                                  937500                    5175.78                                            360                                      359                                        6.375                    0
           16218880                                  470786                    2501.05                                            360                                      360                                        6.125                    0
           16218881                               791716.03                    4943.86                                            360                                      359                                        6.125                    0
           16218882                                  528465                    2532.23                                            360                                      360                                          5.5                    0
           16218883                                  450000                    2578.13                                            360                                      360                                        6.625                    0
           16218884                                 1000000                     5312.5                                            360                                      360                                        6.125                    0
           16218901                                  708000                    3466.25                                            360                                      360                                        5.625                    0
           16218902                                  724000                    4147.92                                            360                                      360                                        6.625                    0
           16218903                                  668000                    3548.75                                            360                                      359                                        6.125                    0
           16218904                                  558000                    2673.75                                            360                                      360                                          5.5                    0
           16218905                                  500500                    2815.31                                            360                                      360                                          6.5                    0
           16218906                                  640000                    3666.67                                            360                                      360                                        6.625                    0
           16218907                                  491000                    2761.88                                            360                                      360                                          6.5                    0
           16218908                                  543200                    2885.75                                            360                                      360                                        6.125                    0
           16218909                                  750000                    4679.02                                            360                                      360                                        6.125                    0
           16218910                                  585600                       3294                                            360                                      360                                          6.5                    0
           16218911                                  405000                    2531.25                                            360                                      360                                         7.25                    0
           16218912                                  500000                     2812.5                                            360                                      360                                          6.5                    0
           16218913                                  850000                    4781.25                                            360                                      360                                          6.5                    0
           16218914                                  520000                    2870.83                                            360                                      360                                        6.375                    0
           16218915                                  950000                    5145.83                                            360                                      360                                         6.25                    0
           16218916                                  605700                     3028.5                                            360                                      360                                         5.75                    0
           16218917                                  579752                    3079.93                                            360                                      360                                        6.125                    0
           16218918                                  450000                    2203.13                                            360                                      360                                        5.625                    0
           16218919                                  635000                    3505.73                                            360                                      360                                        6.375                    0
           16218920                                 1000000                    5208.33                                            360                                      360                                            6                    0
           16218921                                 2475000                    15847.7                                            360                                      360                                        6.375                    0
           16218922                                  999999                    5104.16                                            360                                      360                                        5.875                    0
           16218923                                  483000                    2515.63                                            360                                      360                                            6                    0
           16218924                                  524242                    3003.47                                            360                                      360                                        6.625                    0
           16218925                                  566952                    3537.04                                            360                                      360                                        6.125                    0
           16218926                                  576000                       3060                                            360                                      360                                        6.125                    0
           16218927                                  455920                    3039.47                                            360                                      360                                         7.75                    0
           16218928                                  650000                    3317.71                                            360                                      360                                        5.875                    0
           16218929                                  458000                    2576.25                                            360                                      360                                          6.5                    0
           16218900                                  621000                    3169.69                                            360                                      360                                        5.875                    0
           16219027                                  760000                    4354.17                                            360                                      360                                        6.625                    0
           16219029                                  750000                     4062.5                                            360                                      360                                         6.25                    0
           16219030                                  890603                    4731.33                                            360                                      360                                        6.125                    0
           16219000                                  560000                       3150                                            360                                      360                                          6.5                    0
           16219001                                  450000                    2390.63                                            360                                      360                                        6.125                    0
           16219002                                  105600                        539                                            360                                      360                                        5.875                    0
           16219003                                  423000                    2423.44                                            360                                      360                                        6.625                    0
           16219004                                  426000                    2351.88                                            360                                      360                                        6.375                    0
           16219005                                  980000                    6194.27                                            360                                      360                                         6.25                    0
           16219006                                  500000                    3201.55                                            360                                      360                                        6.375                    0
           16219007                                  500000                    2656.25                                            360                                      360                                        6.125                    0
           16219008                                  492000                    2613.75                                            360                                      360                                        6.125                    0
           16219009                                  692000                    3676.25                                            360                                      360                                        6.125                    0
           16219010                                 1500000                    9114.16                                            360                                      360                                        5.875                    0
           16219011                                 1282500                    6546.09                                            360                                      360                                        5.875                    0
           16219012                                  541644                    2877.48                                            360                                      360                                        6.125                    0
           16219013                                  550866                    2983.86                                            360                                      360                                         6.25                    0
           16219014                                  920000                    5079.17                                            360                                      360                                        6.375                    0
           16219015                                  904000                     4802.5                                            360                                      360                                        6.125                    0
           16219016                                  421600                    2283.67                                            360                                      360                                         6.25                    0
           16219017                                  640000                       3400                                            360                                      360                                        6.125                    0
           16219018                                  613600                    3004.08                                            360                                      360                                        5.625                    0
           16219019                                  801160                    4506.53                                            360                                      360                                          6.5                    0
           16219020                                  550000                    2979.17                                            360                                      360                                         6.25                    0
           16219021                                  946500                    4831.09                                            360                                      360                                        5.875                    0
           16219022                                  488000                    2541.67                                            360                                      360                                            6                    0
           16219023                                  888000                     4717.5                                            360                                      360                                        6.125                    0
           16219024                                  479920                    2649.56                                            360                                      360                                        6.375                    0
           16219025                                  600000                     3062.5                                            360                                      360                                        5.875                    0
           16219026                                  568000                    3135.83                                            360                                      360                                        6.375                    0
           16132484                              1739999.99                       9425                                            360                                      354                                         6.25                    0
           16132485                                 1765200                    7538.88                                            360                                      354                                        4.875                    0
           16132486                                 1900000                    8510.42                                            360                                      357                                        5.125                    0
           16132487                              1669999.99                    8002.08                                            360                                      354                                          5.5                    0
           16132488                              1699999.99                    9739.58                                            360                                      355                                        6.625                    0
           16132490                                 1750000                    9661.46                                            360                                      358                                        6.375                    0
           16132491                                 1820000                   10047.92                                            360                                      355                                        6.375                    0
           16132492                              1761514.87                   10898.19                                            360                                      355                                            6                    0
           15830580                               316351.72                    1762.26                                            360                                      328                                        4.625                    0
           15830659                                  548900                    2229.91                                            360                                      350                                        4.625                    0
           15830691                                412692.8                    2329.48                                            360                                      353                                        5.125                    0
           15830692                                 1246250                    5322.53                                            360                                      353                                        4.875                    0
           15830779                                  491020                    2250.51                                            360                                      353                                         5.25                    0
           15830881                                  103280                     559.43                                            360                                      353                                         6.25                    0
           15830883                                  185500                     946.82                                            360                                      353                                        5.875                    0
           15830956                               465118.63                    2661.57                                            360                                      353                                         5.25                    0
           15830987                               536195.43                    2178.29                                            360                                      352                                        4.625                    0
           15831159                                  225900                    1153.03                                            360                                      353                                        5.875                    0
           15831162                                  144000                        690                                            360                                      353                                          5.5                    0
           15831298                               509347.67                    2783.43                                            360                                      346                                         4.75                    0
           15831306                               499020.48                    2688.38                                            360                                      346                                        4.625                    0
           15831355                               606030.69                    3285.35                                            360                                      352                                         4.75                    0
           15831373                                  344000                    1433.33                                            360                                      353                                         4.75                    0
           15831471                                  242400                     1161.5                                            360                                      353                                          5.5                    0
           15831507                               474325.56                    2568.16                                            360                                      353                                         4.75                    0
           15831577                                  288800                    1353.75                                            360                                      353                                        5.375                    0
           15831602                               333498.55                    1632.75                                            360                                      353                                        5.625                    0
           15831626                                  503450                    2360.57                                            360                                      354                                        5.375                    0
           15831665                                  521600                    2553.67                                            360                                      353                                        5.625                    0
           15831684                                  254600                    1246.48                                            360                                      353                                        5.625                    0
           15831701                               202762.77                     992.69                                            360                                      353                                        5.625                    0
           16019791                                  412000                    1759.58                                            360                                      353                                        4.875                    0
           16019841                               366919.95                    2014.61                                            360                                      353                                        4.875                    0
           16019844                                  235151                      979.8                                            360                                      353                                         4.75                    0
           16020328                               311977.84                    1332.41                                            360                                      353                                        4.875                    0
           16020419                               409133.33                    2275.08                                            360                                      354                                            5                    0
           16020619                                  456000                     1947.5                                            360                                      351                                        4.875                    0
           16020700                               845082.21                    4693.74                                            360                                      355                                            5                    0
           16020753                               332961.35                    1888.54                                            360                                      338                                            5                    0
           16020805                                  402775                    1762.14                                            360                                      354                                            5                    0
           16020911                                  520604                    1843.81                                            360                                      353                                            4                    0
           16166788                                  578700                     2893.5                                            360                                      359                                         5.75                    0
           16166791                                  708000                       3835                                            360                                      359                                         6.25                    0
           16166795                                  572000                    3157.92                                            360                                      359                                        6.375                    0
           16166796                                  458764                    2487.68                                            360                                      359                                         6.25                    0
           16166748                                  472000                     2507.5                                            360                                      359                                        6.125                    0
           16166762                                  460000                    2539.58                                            360                                      359                                        6.375                    0
           16166772                                  526600                    2578.15                                            360                                      359                                        5.625                    0
           16166776                                  460000                    2395.83                                            360                                      359                                            6                    0
           16166781                               441459.23                     2207.3                                            360                                      354                                         5.75                    0
           16166782                                  424180                     2120.9                                            360                                      359                                         5.75                    0
           16166787                                  515000                    2843.23                                            360                                      359                                        6.375                    0
           16166737                                  667500                     3337.5                                            360                                      359                                         5.75                    0
           16166621                                  650000                    2979.17                                            360                                      359                                         5.25                    0
           16166639                                  920000                    5270.83                                            360                                      359                                        6.625                    0
           16166641                                  453500                    2456.46                                            360                                      359                                         6.25                    0
           16166645                                 1170000                    6215.63                                            360                                      359                                        6.125                    0
           16166660                                  624000                       3315                                            360                                      359                                        6.125                    0
           16166664                                  657000                    3490.31                                            360                                      359                                        6.125                    0
           16166666                                  430500                    2287.03                                            360                                      359                                        6.125                    0
           16166669                                  525292                     2735.9                                            360                                      359                                            6                    0
           16166670                                  904000                    4990.83                                            360                                      359                                        6.375                    0
           16166672                                  503888                    2676.91                                            360                                      359                                        6.125                    0
           16166679                                  431300                    2201.43                                            360                                      359                                        5.875                    0
           16166682                                  641150                    3072.18                                            360                                      359                                          5.5                    0
           16166683                                  650000                       3250                                            360                                      359                                         5.75                    0
           16166686                               524513.74                    3275.32                                            360                                      359                                        6.125                    0
           16166689                                  510000                    2443.75                                            360                                      359                                          5.5                    0
           16166695                                  624000                       3510                                            360                                      359                                          6.5                    0
           16166698                                  591200                    3202.33                                            360                                      359                                         6.25                    0
           16166702                                  485456                    2629.55                                            360                                      359                                         6.25                    0
           16166711                                449541.2                    2661.92                                            360                                      359                                        5.625                    0
           16166716                                  608800                    3297.67                                            360                                      359                                         6.25                    0
           16166725                                  922000                       4610                                            360                                      359                                         5.75                    0
           16166729                               424596.74                     2616.8                                            360                                      359                                            6                    0
           16166616                                  430000                    2239.58                                            360                                      359                                            6                    0
           16166593                                  651500                    3053.91                                            360                                      359                                        5.375                    0
           16166595                                  470462                    2352.31                                            360                                      359                                         5.75                    0
           16166610                                  480000                       2700                                            360                                      359                                          6.5                    0
           16166613                                  632000                    3028.33                                            360                                      359                                          5.5                    0
           16166614                                  780000                    4143.75                                            360                                      359                                        6.125                    0
           16166577                                  572000                    3098.33                                            360                                      359                                         6.25                    0
           16166579                                  420000                    2231.25                                            360                                      359                                        6.125                    0
           16166580                               588427.52                    3578.83                                            360                                      359                                        5.875                    0
           16166454                                  621000                    3234.38                                            360                                      359                                            6                    0
           16166458                                  430000                    2418.75                                            360                                      359                                          6.5                    0
           16166459                               434477.33                    2335.17                                            360                                      359                                         4.75                    0
           16166460                                  465500                    2472.97                                            360                                      359                                        6.125                    0
           16166467                               599457.59                    3792.41                                            360                                      359                                         6.25                    0
           16166469                                  801670                    4342.38                                            360                                      359                                         6.25                    0
           16166470                               519469.83                       3076                                            360                                      359                                        5.625                    0
           16166474                                  662400                       3381                                            360                                      359                                        5.875                    0
           16166477                                  528500                    3027.86                                            360                                      359                                        6.625                    0
           16166488                                  537016                    2461.32                                            360                                      359                                         5.25                    0
           16166494                                  432000                       2205                                            360                                      359                                        5.875                    0
           16166515                                  512000                       2560                                            360                                      359                                         5.75                    0
           16166518                                  692000                    3676.25                                            360                                      359                                        6.125                    0
           16166519                                  555000                       2775                                            360                                      359                                         5.75                    0
           16166521                                  432000                       2250                                            360                                      359                                            6                    0
           16166522                                  530400                       2652                                            360                                      359                                         5.75                    0
           16166523                                  566208                    3007.98                                            360                                      359                                        6.125                    0
           16166524                                  450400                    2439.67                                            360                                      359                                         6.25                    0
           16166526                                  608000                    3166.67                                            360                                      359                                            6                    0
           16166533                                  780000                       4225                                            360                                      359                                         6.25                    0
           16166539                                  536156                    3015.88                                            360                                      359                                          6.5                    0
           16166540                                  640900                    3338.54                                            360                                      359                                            6                    0
           16166544                                  520000                    2654.17                                            360                                      359                                        5.875                    0
           16166545                                  602000                    3198.13                                            360                                      359                                        6.125                    0
           16166550                                  576000                       2820                                            360                                      359                                        5.625                    0
           16166560                               494495.33                    2928.11                                            360                                      359                                        5.625                    0
           16166417                                 1000000                    4479.17                                            360                                      359                                        5.125                    0
           16166419                                  506400                    2479.25                                            360                                      359                                        5.625                    0
           16166421                                  525000                    2734.38                                            360                                      359                                            6                    0
           16166425                                  448000                    2193.33                                            360                                      359                                        5.625                    0
           16166426                                  840000                       3850                                            360                                      359                                         5.25                    0
           16166428                                  437038                    2185.19                                            360                                      359                                         5.75                    0
           16166435                                  520000                     2762.5                                            360                                      359                                        6.125                    0
           16166436                               999117.72                    6403.11                                            360                                      359                                        6.375                    0
           16166443                               581420.62                    3489.38                                            360                                      359                                         5.75                    0
           16166449                                  437905                     2417.6                                            360                                      359                                        6.375                    0
           16166319                                  440000                    2245.83                                            360                                      359                                        5.875                    0
           16166321                                  649000                    3317.71                                            360                                      359                                        5.875                    0
           16166323                               452475.91                    2450.91                                            360                                      359                                         6.25                    0
           16166327                                  560000                       2625                                            360                                      359                                        5.375                    0
           16166328                                  744000                       4030                                            360                                      359                                         6.25                    0
           16166336                                  525000                    2406.25                                            360                                      359                                         5.25                    0
           16166340                                  452000                    2401.25                                            360                                      359                                        6.125                    0
           16166344                                  800500                    3919.11                                            360                                      359                                        5.625                    0
           16166349                                  663750                    3457.03                                            360                                      359                                            6                    0
           16166353                                  438439                    2009.51                                            360                                      359                                         5.25                    0
           16166359                                  481600                       2408                                            360                                      359                                         5.75                    0
           16166364                                  607600                    3291.17                                            360                                      359                                         6.25                    0
           16166377                                  650000                    3656.25                                            360                                      359                                          6.5                    0
           16166378                                  520000                    2654.17                                            360                                      359                                        5.875                    0
           16166379                                  492000                       2665                                            360                                      359                                         6.25                    0
           16166380                                  500000                    2395.83                                            360                                      359                                          5.5                    0
           16166389                               525548.24                     2518.5                                            360                                      359                                          5.5                    0
           16166390                                  486000                    2379.38                                            360                                      359                                        5.625                    0
           16166395                                  650000                    3588.54                                            360                                      359                                        6.375                    0
           16166407                                  900000                    5416.67                                            360                                      359                                         6.25                    0
           16166411                                  432000                       2250                                            360                                      359                                            6                    0
           16166289                               848395.83                    4826.21                                            360                                      359                                         5.25                    0
           16166296                                  790000                    3703.13                                            360                                      359                                        5.375                    0
           16166310                               999029.45                    4374.45                                            360                                      358                                            5                    0
           16166313                                  510000                    2496.88                                            360                                      359                                        5.625                    0
           16166315                               421548.86                    2429.27                                            360                                      359                                        5.375                    0
           16166318                                  623234                    3570.61                                            360                                      359                                        6.625                    0
           16166098                                  469799                    2495.81                                            360                                      358                                        6.125                    0
           16166102                               698464.09                    3974.53                                            360                                      358                                         5.25                    0
           16166104                                  615920                    3272.08                                            360                                      358                                        6.125                    0
           16166106                                  666835                    3334.18                                            360                                      358                                         5.75                    0
           16166107                                  588000                     3062.5                                            360                                      359                                            6                    0
           16166108                                  504432                    2364.53                                            360                                      359                                        5.375                    0
           16166110                                  448500                    2195.78                                            360                                      358                                        5.625                    0
           16166113                               522104.13                    2504.13                                            360                                      358                                          5.5                    0
           16166115                              1359983.33                    7083.25                                            360                                      358                                            6                    0
           16166116                                  650000                    3182.29                                            360                                      358                                        5.625                    0
           16166121                                  451000                    2161.04                                            360                                      358                                          5.5                    0
           16166122                                  545653                    3012.46                                            360                                      358                                        6.375                    0
           16166125                                  423168                    1807.28                                            360                                      358                                        4.875                    0
           16166127                                  556000                    2895.83                                            360                                      358                                            6                    0
           16166128                                 1500000                     7187.5                                            360                                      359                                          5.5                    0
           16166135                                  501300                    2454.28                                            360                                      359                                        5.625                    0
           16166136                                  536000                       2680                                            360                                      359                                         5.75                    0
           16166138                                  470000                    2398.96                                            360                                      359                                        5.875                    0
           16166142                               423928.19                    2164.17                                            360                                      359                                        5.875                    0
           16166143                                 1441000                    7805.42                                            360                                      358                                         6.25                    0
           16166145                               634789.94                    3915.96                                            360                                      358                                            6                    0
           16166147                                  531200                    2600.67                                            360                                      358                                        5.625                    0
           16166148                                  591200                    3017.58                                            360                                      359                                        5.875                    0
           16166151                                  507000                    2587.81                                            360                                      358                                        5.875                    0
           16166152                                  445000                    2410.42                                            360                                      359                                         6.25                    0
           16166155                                  516000                    2956.25                                            360                                      358                                        6.625                    0
           16166159                                  431100                    2065.69                                            360                                      359                                          5.5                    0
           16166160                               519430.82                    2952.51                                            360                                      359                                         5.25                    0
           16166161                                  672000                       3850                                            360                                      359                                        6.625                    0
           16166163                                  686400                     3360.5                                            360                                      359                                        5.625                    0
           16166164                                  472000                    2556.67                                            360                                      359                                         6.25                    0
           16166167                                  486000                       2430                                            360                                      358                                         5.75                    0
           16166168                                549996.6                    2921.88                                            360                                      358                                        6.125                    0
           16166170                               522095.31                    2669.48                                            360                                      359                                        5.875                    0
           16166175                                  431250                    2201.17                                            360                                      358                                        5.875                    0
           16166176                                  570000                    2968.75                                            360                                      359                                            6                    0
           16166178                                  481250                    2606.77                                            360                                      359                                         6.25                    0
           16166189                                  605500                    3216.72                                            360                                      359                                        6.125                    0
           16166194                                  512000                    2613.33                                            360                                      358                                        5.875                    0
           16166197                               440160.95                    2715.31                                            360                                      358                                            6                    0
           16166200                               669009.22                    4287.53                                            360                                      359                                        6.375                    0
           16166201                                  422500                    2288.54                                            360                                      359                                         6.25                    0
           16166202                                  511300                    2343.46                                            360                                      358                                         5.25                    0
           16166203                               636869.59                    3976.92                                            360                                      359                                        6.125                    0
           16166204                                  648025                    3182.29                                            360                                      359                                        5.625                    0
           16166207                                  588000                     3062.5                                            360                                      359                                            6                    0
           16166213                                  880000                    4858.33                                            360                                      358                                        6.375                    0
           16166217                                  426150                    2130.75                                            360                                      359                                         5.75                    0
           16166218                                  604000                    2894.17                                            360                                      358                                          5.5                    0
           16166220                               434566.96                    2608.04                                            360                                      359                                         5.75                    0
           16166223                                599430.7                     3694.3                                            360                                      359                                            6                    0
           16166225                                  517600                    2803.67                                            360                                      359                                         6.25                    0
           16166232                                  512000                    2613.33                                            360                                      359                                        5.875                    0
           16166234                               703142.75                    3442.75                                            360                                      359                                        5.625                    0
           16166235                               598683.51                    3406.74                                            360                                      358                                         5.25                    0
           16166237                                  468000                    2681.25                                            360                                      359                                        6.625                    0
           16166238                               649305.11                    3741.77                                            360                                      359                                        5.375                    0
           16166245                                  429384                    2236.38                                            360                                      359                                            6                    0
           16166247                                  515000                    2896.88                                            360                                      359                                          6.5                    0
           16166249                                  503357                    2464.35                                            360                                      358                                        5.625                    0
           16166255                                  650000                    3520.83                                            360                                      359                                         6.25                    0
           16166267                                  492600                    2514.31                                            360                                      359                                        5.875                    0
           16166069                                  475000                    2276.04                                            360                                      359                                          5.5                    0
           16166074                                  585600                       2928                                            360                                      359                                         5.75                    0
           16166083                                  457600                    2383.33                                            360                                      359                                            6                    0
           16166092                                  436400                    2545.67                                            360                                      358                                         6.75                    0
               2026                              1186926936                 6351598.85                                            360                                      359                                        5.970                0.001

           LOAN_SEQ                     MSERV                   SERV_FEE                                CURRENT_GROSS_COUPON         CITY1                                       STATE                               ZIP_CODE           PROPTYPE
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
           16046700                       0                      0.375                                              6.5          SILVER SPRINGS                                    MD                                 20906          Condominium
           16046701                       0                       0.25                                            6.375          SEFFNER                                           FL                                 33584          Single Family
           16046702                       0                       0.25                                            6.375          CAPE CORAL                                        FL                                 33914          Single Family
           16046703                       0                       0.25                                             5.75          CLACKAMAS                                         OR                                 97015          Single Family
           16046704                       0                       0.25                                                6          SAN JOSE                                          CA                                 95139          Single Family
           16046705                       0                      0.375                                            5.875          WAXHAW                                            NC                                 28173          Single Family
           16046706                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 91326          PUD
           16046707                       0                       0.25                                            5.875          SANTA ROSA                                        CA                                 95403          PUD
           16046708                       0                       0.25                                             6.25          SACRAMENTO                                        CA                                 95819          Single Family
           16046709                       0                       0.25                                            5.875          BILOXI                                            MS                                 39532          Single Family
           16046710                       0                       0.25                                                6          CHARLESTON                                        SC                                 29414          PUD
           16046712                       0                       0.25                                                6          SAINT AUGUSTINE                                   FL                                 32084          Single Family
           16046713                       0                       0.25                                              6.5          CAPISTRANO BEACH                                  CA                                 92624          Single Family
           16046714                       0                       0.25                                            6.375          CORONA                                            CA                                 92880          Single Family
           16046715                       0                       0.25                                             6.25          CHICAGO                                           IL                                 60610          Condominium
           16046482                       0                       0.25                                            5.125          TRACY                                             CA                                 95376          Single Family
           16046498                       0                       0.25                                            5.875          MOUNTAIN CENTER                                   CA                                 92561          PUD
           16046505                       0                       0.25                                              5.5          HERCULES                                          CA                                 94547          PUD
           16046511                       0                       0.25                                                6          PALO ALTO                                         CA                                 94301          Single Family
           16046514                       0                       0.25                                             6.75          HERMOSA BEACH                                     CA                                 90254          Single Family
           16046521                       0                       0.25                                            6.375          CHICAGO                                           IL                                 60611          Condominium
           16046541                       0                       0.25                                            6.125          NEW PORT RICHEY                                   FL                                 34655          PUD
           16046546                       0                       0.25                                            6.625          PALMETTO BAY                                      FL                                 33158          Single Family
           16046550                       0                       0.25                                            6.625          REDONDO BEACH                                     CA                                 90278          Condominium
           16046562                       0                       0.25                                            5.875          SAN JACINTO                                       CA                                 92582          Single Family
           16046570                       0                       0.25                                             6.25          LIHUE                                             HI                                 96766          Condominium
           16046579                       0                      0.375                                            6.125          PALM SPRINGS                                      CA                                 92264          Single Family
           16046587                       0                       0.25                                            5.875          CHEVY CHASE                                       MD                                 20815          Single Family
           16046597                       0                       0.25                                             6.25          SARASOTA                                          FL                                 34233          Single Family
           16046606                       0                       0.25                                            5.875          CHARLESTON                                        SC                                 29464          PUD
           16046615                       0                       0.25                                            5.875          TAMPA                                             FL                                 33647          Single Family
           16046618                       0                      0.375                                             6.25          PLEASANTON                                        CA                                 94566          Single Family
           16046644                       0                       0.25                                            6.375          DALY CITY                                         CA                                 94015          Single Family
           16046645                       0                       0.25                                             5.75          MILPITAS                                          CA                                 95035          Single Family
           16046646                       0                      0.375                                            6.375          NEW YORK                                          NY                                 10010          Condominium
           16046648                       0                       0.25                                            5.375          STOCKTON                                          CA                                 95209          PUD
           16046649                       0                       0.25                                                5          LAUREL                                            MD                                 20723          PUD
           16046651                       0                      0.375                                             6.75          DILLON                                            CO                                 80435          PUD
           16046655                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90048          Condominium
           16046663                       0                       0.25                                            5.875          MCLEAN                                            VA                                 22101          Single Family
           16046673                       0                      0.375                                              5.5          PAWLEYS ISLAND                                    SC                                 29585          Condominium
           16046675                       0                       0.25                                              6.5          PALM BEACH                                        FL                                 33480          Single Family
           16046682                       0                       0.25                                             5.25          FAIRFAX                                           VA                                 22032          PUD
           16046693                       0                       0.25                                             6.25          GENEVA                                            IL                                 60134          PUD
           16046698                       0                       0.25                                            5.375          WELLESLEY                                         MA                                  2481          Single Family
           16046711                       0                       0.25                                              5.5          SAN FRANCISCO                                     CA                                 94117          Condominium
           16046720                       0                       0.25                                            6.125          LA GRANGE                                         CA                                 95329          PUD
           16046729                       0                       0.25                                             5.75          LOGANDALE                                         NV                                 89021          Single Family
           16046730                       0                       0.25                                            5.875          NORTH ANDOVER                                     MA                                  1845          Single Family
           16046738                       0                       0.25                                            5.125          VIRGINIA BEACH                                    VA                                 23455          Single Family
           16046747                       0                       0.25                                            5.875          GAITHERSBURG                                      MD                                 20882          PUD
           16046763                       0                       0.25                                             6.25          OAKLAND                                           CA                                 94619          Single Family
           16046766                       0                       0.25                                             6.25          CHESAPEAKE                                        VA                                 23322          PUD
           16046767                       0                       0.25                                            5.875          SAN JOSE                                          CA                                 95148          Single Family
           16046768                       0                       0.25                                             5.75          ST.ALBANS                                         NY                                 11412          2-4 Family
           16046770                       0                       0.25                                              5.5          VENICE                                            FL                                 34292          Single Family
           16046771                       0                      0.375                                            6.875          LAS VEGAS                                         NV                                 89120          PUD
           16046773                       0                      0.375                                              5.5          ISLE OF PALMS                                     SC                                 29451          Single Family
           16046779                       0                       0.25                                            4.875          WATSONVILLE                                       CA                                 95076          Single Family
           16046782                       0                       0.25                                              6.5          THOUSAND OAKS                                     CA                                 91320          PUD
           16046807                       0                       0.25                                             6.75          MONTVALE                                          NJ                                  7645          Single Family
           16046815                       0                       0.25                                            6.375          QUEENSTOWN                                        MD                                 21658          Single Family
           16046821                       0                       0.25                                              6.5          OLATHE                                            KS                                 66061          Single Family
           16046826                       0                       0.25                                            5.875          SAN MATEO                                         CA                                 94010          2-4 Family
           16046739                       0                       0.25                                            5.875          PINOLE                                            CA                                 94564          Single Family
           16046740                       0                       0.25                                            6.375          WOODSTOCK                                         IL                                 60098          Single Family
           16046741                       0                       0.25                                            6.375          HILTON HEAD ISLAND                                SC                                 29926          PUD
           16046742                       0                       0.25                                            5.875          SACRAMENTO                                        CA                                 95835          Single Family
           16046743                       0                       0.25                                            6.375          MONROVIA                                          CA                                 91016          PUD
           16046744                       0                       0.25                                            5.875          KAUNAKAKAI                                        HI                                 96748          Condominium
           16046746                       0                       0.25                                                6          COLUMBIA                                          MD                                 21045          PUD
           16046748                       0                       0.25                                            5.375          MORGAN HILL                                       CA                                 95037          Single Family
           16046750                       0                       0.25                                             5.75          FAIRFIELD                                         CA                                 94534          Single Family
           16046751                       0                       0.25                                                6          KENT                                              WA                                 98032          Single Family
           16046752                       0                       0.25                                                6          LUCAS                                             TX                                 75002          Single Family
           16046753                       0                       0.25                                            6.375          CARLSBAD                                          CA                                 92009          PUD
           16046754                       0                       0.25                                            6.125          CARLSBAD                                          CA                                 92009          PUD
           16046755                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 91405          Single Family
           16046756                       0                       0.25                                             7.25          RENO                                              NV                                 89509          2-4 Family
           16046759                       0                       0.25                                              6.5          FRESNO                                            CA                                 93722          Single Family
           16046760                       0                       0.25                                              5.5          DALY CITY                                         CA                                 94014          2-4 Family
           16046761                       0                       0.25                                            6.875          PLAINFIELD                                        VT                                  5667          Single Family
           16046762                       0                       0.25                                             5.75          SHELBY                                            NC                                 28150          Single Family
           16046764                       0                       0.25                                              5.5          FREMONT                                           CA                                 94536          Single Family
           16046765                       0                       0.25                                            5.875          ARLINGTON                                         WA                                 98223          PUD
           16046769                       0                       0.25                                            6.875          AMERICAN CANYON                                   CA                                 94503          Single Family
           16046772                       0                       0.25                                                6          SOUTH SAN FRANCISCO                               CA                                 94080          Single Family
           16046774                       0                       0.25                                             6.25          HAYMARKET                                         VA                                 20169          PUD
           16046775                       0                       0.25                                             6.75          SUNRISE                                           FL                                 33322          Single Family
           16046776                       0                      0.375                                            6.375          CARBONDALE                                        CO                                 81623          PUD
           16046777                       0                       0.25                                            6.625          TRUCKEE                                           CA                                 96161          Condominium
           16046778                       0                       0.25                                             6.25          SAN FRANCISCO                                     CA                                 94110          Single Family
           16046780                       0                      0.375                                             6.75          DENVER                                            CO                                 80203          Single Family
           16046781                       0                       0.25                                                7          SAN JOSE                                          CA                                 95110          2-4 Family
           16046784                       0                      0.375                                             6.25          SAN FRANCISCO                                     CA                                 94122          Single Family
           16046785                       0                       0.25                                              6.5          SAN FRANCISCO                                     CA                                 94115          Condominium
           16046786                       0                      0.375                                            7.125          LAGUNA BEACH                                      CA                                 92651          Single Family
           16046787                       0                      0.375                                            6.125          MOUNT PROSPECT                                    IL                                 60056          Single Family
           16046788                       0                       0.25                                              6.5          CLEARWATER                                        FL                                 33764          Single Family
           16046789                       0                      0.375                                            5.875          MIAMI BEACH                                       FL                                 33141          Single Family
           16046790                       0                       0.25                                            6.875          LOS LUNAS                                         NM                                 87031          Single Family
           16046791                       0                       0.25                                                6          SAN JOSE                                          CA                                 95123          Condominium
           16046792                       0                       0.25                                              5.5          OAKLAND                                           CA                                 94607          Condominium
           16046793                       0                       0.25                                            5.875          DANVILLE                                          CA                                 94526          Single Family
           16046794                       0                       0.25                                             6.75          DRIFTWOOD                                         TX                                 78619          Condominium
           16046796                       0                       0.25                                            6.375          GOLETA                                            CA                                 93117          Single Family
           16046797                       0                       0.25                                             6.25          FORT LEE                                          NJ                                  7024          2-4 Family
           16046798                       0                       0.25                                            6.125          SACRAMENTO                                        CA                                 95864          Single Family
           16046799                       0                       0.25                                                6          NEW PORT RICHEY                                   FL                                 34653          PUD
           16046800                       0                       0.25                                             6.75          BUENA PARK                                        CA                                 90621          PUD
           16046801                       0                       0.25                                            6.625          WASHINGTON                                        DC                                 20011          Single Family
           16046802                       0                       0.25                                            5.875          SAN JOSE                                          CA                                 95128          Condominium
           16046803                       0                       0.25                                             6.25          GAINESVILLE                                       FL                                 32608          PUD
           16046804                       0                       0.25                                                6          INDIAN WELLS                                      CA                                 92210          PUD
           16046805                       0                       0.25                                            6.875          PEARLAND                                          TX                                 77584          PUD
           16046806                       0                       0.25                                            6.125          FALMOUTH                                          MA                                  2540          Single Family
           16046808                       0                      0.375                                              5.5          GARDNER                                           KS                                 66030          Single Family
           16046809                       0                       0.25                                            5.875          KIHEI                                             HI                                 96753          Condominium
           16046810                       0                       0.25                                            5.875          DANVILLE                                          CA                                 94526          Single Family
           16046811                       0                       0.25                                              5.5          ESCONDIDO                                         CA                                 92027          PUD
           16046812                       0                       0.25                                            6.125          WOODBURN                                          OR                                 97071          Single Family
           16046813                       0                       0.25                                              5.5          SCOTTSDALE                                        AZ                                 85268          Single Family
           16046814                       0                       0.25                                            6.375          CARMEL                                            CA                                 93923          Single Family
           16046817                       0                       0.25                                             6.25          STERLING                                          VA                                 20166          Condominium
           16046818                       0                       0.25                                              6.5          LOS ANGELES AREA                                  CA                                 90043          Single Family
           16046819                       0                       0.25                                            6.875          DONNELLY                                          ID                                 83615          PUD
           16046820                       0                       0.25                                            6.125          WILTON                                            CA                                 95693          Single Family
           16046822                       0                       0.25                                            6.875          CORONA                                            CA                                 92880          Single Family
           16046823                       0                       0.25                                             6.25          BOCA RATON                                        FL                                 33487          2-4 Family
           16046824                       0                       0.25                                             6.25          WINGDALE                                          NY                                 12594          Single Family
           16046825                       0                       0.25                                            6.875          LYNN                                              MA                                  1902          2-4 Family
           16046827                       0                       0.25                                            5.875          LOMA LINDA                                        CA                                 92354          PUD
           16046716                       0                       0.25                                            5.875          NORTH BEND                                        OR                                 97459          Single Family
           16046718                       0                      0.375                                             6.25          SOUTH SAN FRANCISCO                               CA                                 94080          Single Family
           16046719                       0                       0.25                                            5.875          ASHEVILLE                                         NC                                 28803          Single Family
           16046721                       0                       0.25                                            6.625          MIAMI                                             FL                                 33175          Single Family
           16046722                       0                       0.25                                            5.875          PACIFICA                                          CA                                 94044          Single Family
           16046723                       0                       0.25                                                6          PETALUMA                                          CA                                 94954          Single Family
           16046724                       0                      0.375                                            6.625          CHICAGO                                           IL                                 60646          Single Family
           16046725                       0                       0.25                                            6.875          LAS VEGAS                                         NV                                 89109          Condominium
           16046726                       0                       0.25                                                6          FONTANA                                           CA                                 92336          Single Family
           16046727                       0                       0.25                                             6.75          KANSAS CITY                                       MO                                 64155          PUD
           16046728                       0                       0.25                                             6.75          MIAMI                                             FL                                 33162          Condominium
           16046731                       0                       0.25                                            6.125          ATLANTA                                           GA                                 30319          Single Family
           16046732                       0                       0.25                                            5.875          GROVETOWN                                         GA                                 30813          Single Family
           16046733                       0                       0.25                                                6          WESTLAKE VILLAGE                                  CA                                 91362          PUD
           16046734                       0                       0.25                                             6.25          FORT LAUDERDALE                                   FL                                 33332          Single Family
           16046736                       0                       0.25                                            6.375          COLUMBIA                                          MD                                 21044          Single Family
           16046737                       0                       0.25                                              6.5          GAITHERSBURG                                      MD                                 20877          Condominium
           16046465                       0                       0.25                                            6.125          WOODLAND                                          CA                                 95695          PUD
           16046466                       0                       0.25                                                6          LITHIA                                            FL                                 33547          Single Family
           16046467                       0                       0.25                                            5.875          WOODBRIDGE                                        VA                                 22192          Townhouse
           16046468                       0                       0.25                                              6.5          NAVARRE                                           FL                                 32566          Single Family
           16046469                       0                       0.25                                              6.5          HERNDON                                           VA                                 20171          Condominium
           16046470                       0                       0.25                                            6.875          PEMBROKE PINES                                    FL                                 33024          Condominium
           16046471                       0                       0.25                                                6          NEWMAN                                            CA                                 95360          Single Family
           16046472                       0                      0.375                                            5.875          SOUTH EUCLID                                      OH                                 44121          Single Family
           16046473                       0                      0.375                                             6.75          GLEN ALLEN                                        VA                                 23059          PUD
           16046474                       0                       0.25                                            5.875          INDEPENDENCE                                      MN                                 55357          Single Family
           16046475                       0                       0.25                                            6.625          MUNCIE                                            IN                                 47304          Single Family
           16046476                       0                       0.25                                            5.625          EL PASO                                           TX                                 79912          Single Family
           16046477                       0                       0.25                                                6          LOS ANGELES                                       CA                                 90069          Single Family
           16046478                       0                       0.25                                            6.625          CYPRESS                                           CA                                 90630          Single Family
           16046479                       0                       0.25                                            5.375          CLEMMONS                                          NC                                 27012          Single Family
           16046480                       0                       0.25                                            6.875          DALY CITY                                         CA                                 94015          Single Family
           16046481                       0                       0.25                                            5.875          BRANDYWINE                                        MD                                 20613          Single Family
           16046483                       0                       0.25                                             5.75          SAN JOSE                                          CA                                 95128          Condominium
           16046485                       0                       0.25                                            5.875          SANIBEL                                           FL                                 33957          Single Family
           16046486                       0                       0.25                                                7          SAN FRANCISCO                                     CA                                 94107          Condominium
           16046487                       0                       0.25                                            6.125          GAITHERSBURG                                      MD                                 20879          Single Family
           16046488                       0                       0.25                                            6.375          MIDDLE VILLAGE                                    NY                                 11379          2-4 Family
           16046489                       0                       0.25                                            6.125          WILLIAMSTON                                       MI                                 48895          Single Family
           16046491                       0                       0.25                                            5.125          ALDIE                                             VA                                 20105          PUD
           16046492                       0                       0.25                                            7.125          ALPAUGH                                           CA                                 93201          Single Family
           16046493                       0                       0.25                                            5.875          LIGHTHOUSE POINT                                  FL                                 33064          Single Family
           16046494                       0                       0.25                                            6.375          ALPHARETTA                                        GA                                 30022          PUD
           16046496                       0                       0.25                                             5.75          LAWRENCEVILLE                                     GA                                 30044          PUD
           16046497                       0                       0.25                                             5.75          ISLAMORADA                                        FL                                 33036          Condominium
           16046499                       0                       0.25                                            6.125          ALAMEDA                                           CA                                 94501          Single Family
           16046500                       0                       0.25                                             7.25          STUART                                            FL                                 34994          Condominium
           16046501                       0                       0.25                                            6.375          LADSON                                            SC                                 29456          PUD
           16046502                       0                       0.25                                             6.75          SAN FRANCISCO                                     CA                                 94122          Single Family
           16046503                       0                       0.25                                            5.875          OSWEGO                                            IL                                 60543          Single Family
           16046506                       0                       0.25                                            6.625          FAIRFAX                                           VA                                 22032          Single Family
           16046507                       0                       0.25                                             6.25          LYNN                                              MA                                  1902          2-4 Family
           16046508                       0                       0.25                                             6.25          SIMI VALLEY                                       CA                                 93065          Single Family
           16046509                       0                       0.25                                            5.875          CHESTERFIELD                                      MO                                 63017          Single Family
           16046510                       0                      0.375                                            5.875          CROMWELL                                          CT                                  6416          Condominium
           16046512                       0                       0.25                                             6.25          DANVILLE                                          CA                                 94526          Single Family
           16046513                       0                       0.25                                            6.125          RANCHO SANTA MARGARI                              CA                                 92688          PUD
           16046515                       0                       0.25                                            6.375          LITTLEROCK AREA                                   CA                                 93543          Single Family
           16046516                       0                      0.375                                              6.5          SHAWNEE                                           KS                                 66226          PUD
           16046517                       0                       0.25                                                6          SANTA ROSA                                        CA                                 95409          Single Family
           16046518                       0                       0.25                                            5.625          WALDORF                                           MD                                 20603          Single Family
           16046519                       0                       0.25                                             6.25          HAMPSTEAD                                         NC                                 28443          PUD
           16046520                       0                       0.25                                             6.75          GLENDALE                                          NY                                 11385          2-4 Family
           16046522                       0                       0.25                                            6.125          MISSION VIEJO                                     CA                                 92691          PUD
           16046524                       0                       0.25                                                5          HERNDON                                           VA                                 20171          Condominium
           16046643                       0                      0.375                                             6.25          DANVILLE                                          CA                                 94506          PUD
           16046647                       0                       0.25                                            6.625          ORLANDO                                           FL                                 32817          PUD
           16046650                       0                      0.375                                             6.75          CHICAGO                                           IL                                 60647          2-4 Family
           16046652                       0                       0.25                                                6          BALTIMORE                                         MD                                 21231          Townhouse
           16046653                       0                       0.25                                            6.375          WORCESTER                                         MA                                  1603          2-4 Family
           16046654                       0                       0.25                                            6.375          BELMONT                                           CA                                 94002          Single Family
           16046656                       0                       0.25                                                6          NEW FREEDOM                                       PA                                 17349          PUD
           16046657                       0                       0.25                                                6          SAN FRANCISCO                                     CA                                 94109          Condominium
           16046658                       0                       0.25                                            5.875          DALY CITY                                         CA                                 94014          Single Family
           16046659                       0                       0.25                                            5.625          FALLBROOK                                         CA                                 92028          Single Family
           16046660                       0                       0.25                                            5.875          CHINO                                             CA                                 91710          Single Family
           16046661                       0                       0.25                                            6.125          VENICE                                            FL                                 34293          Condominium
           16046662                       0                       0.25                                              5.5          ST. PETERSBURG                                    FL                                 33716          Condominium
           16046664                       0                       0.25                                              6.5          JAMAICA PLAINS                                    MA                                  2130          Condominium
           16046665                       0                       0.25                                             6.75          HEALDSBURG                                        CA                                 95448          Single Family
           16046666                       0                       0.25                                            6.125          PASADENA                                          CA                                 91104          Single Family
           16046667                       0                       0.25                                            5.625          VALLEJO                                           CA                                 94591          Single Family
           16046669                       0                       0.25                                             6.75          HYATTSVILLE                                       MD                                 20781          Condominium
           16046670                       0                       0.25                                            5.875          GAMBRILLS                                         MD                                 21054          Single Family
           16046671                       0                       0.25                                             6.25          PORTOLA VALLEY                                    CA                                 94028          Single Family
           16046672                       0                       0.25                                             6.25          SAN ANTONIO                                       TX                                 78257          PUD
           16046674                       0                       0.25                                            6.375          VENTURA                                           CA                                 93001          Single Family
           16046676                       0                       0.25                                            5.875          LIVERMORE                                         CA                                 94550          PUD
           16046678                       0                       0.25                                              5.5          SUMNER                                            WA                                 98391          Condominium
           16046679                       0                       0.25                                             6.25          SEVIERVILLE                                       TN                                 37876          Single Family
           16046680                       0                       0.25                                            6.875          NORTH MIAMI BEACH                                 FL                                 33160          Condominium
           16046683                       0                       0.25                                              6.5          PLACERVILLE                                       CA                                 95667          Single Family
           16046684                       0                       0.25                                                6          ROCKVILLE                                         MD                                 20850          PUD
           16046685                       0                       0.25                                            5.875          SAN LEANDRO                                       CA                                 94578          Single Family
           16046686                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95111          2-4 Family
           16046687                       0                       0.25                                              6.5          LODI                                              CA                                 95240          Condominium
           16046688                       0                       0.25                                                6          HOUSTON                                           TX                                 77020          PUD
           16046689                       0                       0.25                                            5.875          SAN JUAN CAPISTRANO                               CA                                 92675          Single Family
           16046690                       0                       0.25                                            6.625          ALISO VIEJO                                       CA                                 92656          Condominium
           16046691                       0                       0.25                                            6.625          SPOKANE                                           WA                                 99201          Single Family
           16046692                       0                       0.25                                            6.125          ROTONDA WEST                                      FL                                 33947          Single Family
           16046694                       0                      0.375                                             6.25          ROHNERT PARK                                      CA                                 94928          Single Family
           16046695                       0                       0.25                                             6.75          ORLANDO                                           FL                                 32828          PUD
           16046697                       0                       0.25                                             6.25          PETALUMA                                          CA                                 94954          PUD
           16046699                       0                       0.25                                              6.5          MONT BELVIEU                                      TX                                 77580          PUD
           16046598                       0                       0.25                                              6.5          SHELDON                                           SC                                 29940          PUD
           16046600                       0                       0.25                                             6.75          ARLINGTON                                         TX                                 76014          Townhouse
           16046601                       0                       0.25                                            5.875          LOS ANGELES                                       CA                                 90094          Condominium
           16046602                       0                       0.25                                            6.625          GOODYEAR                                          AZ                                 85338          PUD
           16046603                       0                       0.25                                              6.5          PINE VALLEY                                       CA                                 91962          Single Family
           16046604                       0                       0.25                                            5.875          WALNUT CREEK                                      CA                                 94595          Single Family
           16046605                       0                       0.25                                            5.375          LOS BANOS                                         CA                                 93635          2-4 Family
           16046607                       0                       0.25                                             5.75          CORONA                                            CA                                 92882          PUD
           16046608                       0                       0.25                                            6.625          LAKE ARROWHEAD                                    CA                                 92352          Single Family
           16046609                       0                       0.25                                            6.625          TAMARAC                                           FL                                 33321          Condominium
           16046610                       0                       0.25                                             5.75          NORTH LAS VEGAS                                   NV                                 89031          PUD
           16046612                       0                      0.375                                            6.375          PAWLEYS ISLAND                                    SC                                 29585          PUD
           16046613                       0                       0.25                                            5.875          PORTLAND                                          OR                                 97219          Single Family
           16046614                       0                       0.25                                            6.875          PORT ST. LUCIE                                    FL                                 34952          Single Family
           16046616                       0                       0.25                                              6.5          WILLIAMSBURG                                      VA                                 23185          PUD
           16046617                       0                       0.25                                            5.875          SAN CLEMENTE                                      CA                                 92672          Single Family
           16046619                       0                      0.375                                              6.5          YORBA LINDA                                       CA                                 92887          Condominium
           16046620                       0                       0.25                                             5.75          NEWARK                                            CA                                 94560          Single Family
           16046621                       0                       0.25                                            5.375          SAN MATEO                                         CA                                 94401          Condominium
           16046622                       0                       0.25                                              6.5          HENDERSON                                         NV                                 89052          Single Family
           16046623                       0                       0.25                                            6.875          ALEXANDRIA                                        VA                                 22306          PUD
           16046624                       0                       0.25                                              7.5          HIALEAH                                           FL                                 33013          Single Family
           16046625                       0                       0.25                                            5.875          SAN DIEGO                                         CA                                 92127          PUD
           16046626                       0                      0.375                                             6.25          ENGLEWOOD                                         CO                                 80111          Single Family
           16046627                       0                       0.25                                            5.875          CHICO                                             CA                                 95926          Single Family
           16046628                       0                       0.25                                             5.25          VAN BUREN                                         AR                                 72956          Single Family
           16046629                       0                       0.25                                             5.75          CENTREVILLE                                       VA                                 20120          PUD
           16046630                       0                       0.25                                              6.5          ESCONDIDO                                         CA                                 92027          Single Family
           16046631                       0                       0.25                                            6.625          ELY                                               NV                                 89301          Single Family
           16046632                       0                       0.25                                             6.25          MILILANI                                          HI                                 96789          Condominium
           16046634                       0                       0.25                                              6.5          GREENFIELD                                        CA                                 93927          Single Family
           16046635                       0                       0.25                                             6.25          HANAHAN                                           SC                                 29406          PUD
           16046637                       0                       0.25                                             6.25          PALM DESERT                                       CA                                 92260          PUD
           16046638                       0                       0.25                                            6.625          STOCKTON                                          CA                                 95219          PUD
           16046639                       0                       0.25                                                6          LAS VEGAS                                         NV                                 89130          Single Family
           16046640                       0                       0.25                                            6.125          FREMONT                                           CA                                 94538          Single Family
           16046641                       0                       0.25                                            6.625          STOCKTON                                          CA                                 95219          PUD
           16046642                       0                       0.25                                            6.375          CRESSKILL                                         NJ                                  7626          Single Family
           16046525                       0                       0.25                                            6.625          KOLOA                                             HI                                 96756          Condominium
           16046526                       0                       0.25                                            6.625          LOCKPORT                                          IL                                 60441          Single Family
           16046527                       0                       0.25                                                6          HERCULES                                          CA                                 94547          Single Family
           16046528                       0                       0.25                                             6.25          TORRANCE                                          CA                                 90504          2-4 Family
           16046529                       0                      0.375                                             6.25          PARKER                                            CO                                 80134          Single Family
           16046530                       0                       0.25                                                6          LINCOLN                                           CA                                 95648          Single Family
           16046531                       0                       0.25                                                7          ARROYO GRANDE                                     CA                                 93420          2-4 Family
           16046532                       0                       0.25                                             6.25          WEST HARTFORD                                     CT                                  6117          Single Family
           16046533                       0                       0.25                                            7.125          NEW BRUNSWICK                                     NJ                                  8901          2-4 Family
           16046534                       0                      0.375                                             6.75          HIALEAH                                           FL                                 33016          Condominium
           16046535                       0                       0.25                                             6.25          BLUFFTON                                          SC                                 29910          PUD
           16046536                       0                       0.25                                            6.625          GENOA TWP                                         MI                                 48116          Single Family
           16046537                       0                       0.25                                            6.375          WEST PALM BEACH                                   FL                                 33413          Single Family
           16046538                       0                      0.375                                            6.125          LAKEWOOD                                          CO                                 80215          2-4 Family
           16046540                       0                       0.25                                             6.75          AVENTURA                                          FL                                 33180          PUD
           16046542                       0                       0.25                                              6.5          SAN MARCOS                                        CA                                 92069          PUD
           16046543                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90036          Single Family
           16046544                       0                       0.25                                            5.625          TAMPA                                             FL                                 33618          PUD
           16046545                       0                       0.25                                             6.25          YUCCA VALLEY                                      CA                                 92284          Single Family
           16046547                       0                       0.25                                            5.875          SPRINGFIELD                                       VA                                 22152          Single Family
           16046548                       0                       0.25                                            6.875          FOLLY BEACH                                       SC                                 29439          PUD
           16046549                       0                       0.25                                                6          FORESTVILLE                                       MD                                 20747          Single Family
           16046551                       0                       0.25                                            6.125          MONETA                                            VA                                 24121          Single Family
           16046553                       0                       0.25                                            6.125          SANTA ROSA                                        CA                                 95404          Single Family
           16046555                       0                       0.25                                            6.875          ROCHESTER HILLS                                   MI                                 48306          Single Family
           16046557                       0                       0.25                                            6.125          WINCHESTER                                        VA                                 22602          Single Family
           16046558                       0                       0.25                                            5.875          WESTLAKE VILLAGE                                  CA                                 91361          PUD
           16046559                       0                       0.25                                            5.875          SANTA CRUZ                                        CA                                 95060          Single Family
           16046560                       0                       0.25                                            6.625          LAKE OZARK                                        MO                                 65049          Condominium
           16046561                       0                      0.375                                            5.875          WEST CHESTER (THORNB                              PA                                 19382          PUD
           16046563                       0                       0.25                                            5.875          LAWNDALE                                          CA                                 90260          2-4 Family
           16046564                       0                       0.25                                                6          LANCASTER                                         CA                                 93536          Single Family
           16046565                       0                       0.25                                            6.625          DAYTONA BEACH                                     FL                                 32118          Condominium
           16046566                       0                       0.25                                              6.5          BROWNSVILLE                                       TX                                 78521          Single Family
           16046567                       0                       0.25                                             6.25          ANNANDALE                                         VA                                 22003          PUD
           16046568                       0                       0.25                                                6          VALENCIA AREA                                     CA                                 91381          Condominium
           16046572                       0                       0.25                                                6          GREENSBORO                                        NC                                 27407          PUD
           16046573                       0                      0.375                                             6.75          BOULDER                                           CO                                 80304          Single Family
           16046574                       0                       0.25                                             6.25          BAKERSFIELD                                       CA                                 93312          Single Family
           16046575                       0                       0.25                                              6.5          ASHLAND                                           OR                                 97520          Single Family
           16046576                       0                       0.25                                             6.25          DAYTONA BEACH                                     FL                                 32118          Condominium
           16046578                       0                      0.375                                            6.375          SOUTH HAVEN                                       MI                                 49090          Single Family
           16046580                       0                       0.25                                            6.625          MORGAN HILL                                       CA                                 95037          Single Family
           16046581                       0                       0.25                                                5          MEMPHIS                                           TN                                 38103          Single Family
           16046582                       0                       0.25                                            6.375          SAN JUAN BAUTISTA                                 CA                                 95045          Single Family
           16046583                       0                       0.25                                             5.75          MILPITAS                                          CA                                 95035          PUD
           16046584                       0                       0.25                                                6          PARK CITY                                         UT                                 84060          Single Family
           16046585                       0                       0.25                                            5.875          SAN FRANCISCO                                     CA                                 94107          2-4 Family
           16046588                       0                       0.25                                            6.125          KIRKWOOD                                          MO                                 63122          Condominium
           16046591                       0                       0.25                                                6          FAIRFAX                                           VA                                 22033          Condominium
           16046592                       0                       0.25                                            6.375          SAN FRANCISCO                                     CA                                 94115          Single Family
           16046593                       0                       0.25                                            6.125          MIAMI                                             FL                                 33165          Condominium
           16046594                       0                       0.25                                            6.125          SAINT PETERSBURG                                  FL                                 33704          Condominium
           16046595                       0                       0.25                                            6.375          SAN FRANCISCO                                     CA                                 94131          Single Family
           16046596                       0                       0.25                                              6.5          MIAMI BEACH                                       FL                                 33140          Condominium
           16127503                       0                       0.25                                             5.75          SHAPPHIRE                                         NC                                 28774          PUD
           16127504                       0                       0.25                                            5.625          CHICAGO                                           IL                                 60623          2-4 Family
           16127506                       0                       0.25                                            6.375          ALBUQUERQUE                                       NM                                 87108          2-4 Family
           16127507                       0                       0.25                                            5.875          ALBUQUERQUE                                       NM                                 87108          2-4 Family
           16127508                       0                       0.25                                              5.5          SACRAMENTO                                        CA                                 95864          2-4 Family
           16127509                       0                       0.25                                            6.125          HENDERSON                                         NV                                 89052          PUD
           16127510                       0                      0.375                                                6          VENICE                                            FL                                 34292          Condominium
           16127511                       0                       0.25                                             5.25          EAST HAMPTON                                      CT                                  6424          Single Family
           16127512                       0                       0.25                                            6.125          LINTHICUM                                         MD                                 21090          Single Family
           16127513                       0                       0.25                                                6          JERSEY CITY                                       NJ                                  7305          2-4 Family
           16127514                       0                       0.25                                              6.5          LAS VEGAS                                         NV                                 89123          Condominium
           16127515                       0                      0.375                                            5.125          LAND O LAKES                                      FL                                 34639          Townhouse
           16127516                       0                       0.25                                             6.25          EFFINGHAM                                         IL                                 62401          2-4 Family
           16127517                       0                       0.25                                                6          WILLCOX                                           AZ                                 85643          Single Family
           16127518                       0                       0.25                                                6          LEOMINSTER                                        MA                                  1453          2-4 Family
           16127519                       0                       0.25                                             6.25          SALEM                                             OR                                 97305          Single Family
           16127520                       0                       0.25                                            6.375          ORLANDO                                           FL                                 32189          PUD
           16127521                       0                       0.25                                                6          DALY CITY                                         CA                                 94015          Single Family
           16127522                       0                       0.25                                             5.25          MORENO VALLEY                                     CA                                 92551          Single Family
           16127523                       0                       0.25                                              6.5          LITTLE ROCK                                       AR                                 72206          2-4 Family
           16127524                       0                       0.25                                            6.125          PONTE VEDRA BEACH                                 FL                                 32082          Single Family
           16127525                       0                       0.25                                            6.125          SNOHOMISH                                         WA                                 98296          Single Family
           16127526                       0                       0.25                                            5.625          SOMERVILLE                                        MA                                  2144          2-4 Family
           16127527                       0                       0.25                                                6          WOODBRIDGE                                        VA                                 22191          Condominium
           16127528                       0                      0.375                                            6.125          TALLAHASSEE                                       FL                                 32303          PUD
           16127529                       0                       0.25                                            6.125          HAYWARD                                           CA                                 94542          Single Family
           16127530                       0                      0.375                                             6.25          CAPE CORAL                                        FL                                 33993          Single Family
           16127532                       0                       0.25                                            5.875          VENTURA                                           CA                                 93003          Single Family
           16127533                       0                       0.25                                             6.75          FRESNO                                            CA                                 93702          2-4 Family
           16127534                       0                       0.25                                            5.875          LAS VEGAS                                         NV                                 89123          Condominium
           16127547                       0                      0.375                                              6.5          CAPE CORAL                                        FL                                 33993          Single Family
           16127548                       0                       0.25                                                6          LOS ANGELES                                       CA                                 90065          2-4 Family
           16127550                       0                       0.25                                             5.25          SPRINGHILL                                        KS                                 66083          Single Family
           16127551                       0                       0.25                                              5.5          OCALA                                             FL                                 34473          PUD
           16127552                       0                       0.25                                            6.625          NORTH FORT MYERS                                  FL                                 33917          2-4 Family
           16127553                       0                       0.25                                                5          BOONSBORO                                         MD                                 21713          Single Family
           16127554                       0                       0.25                                            5.875          FOLSOM                                            CA                                 95630          Single Family
           16127555                       0                       0.25                                            5.625          MELBOURNE                                         FL                                 32935          Single Family
           16127556                       0                       0.25                                             5.75          WOOD RIDGE                                        NJ                                  7075          2-4 Family
           16127557                       0                       0.25                                             5.75          WOODBRIDGE                                        VA                                 22191          Condominium
           16127558                       0                       0.25                                            5.375          RICHMOND HILL                                     GA                                 31324          PUD
           16127559                       0                       0.25                                              6.5          LUTZ                                              FL                                 33559          PUD
           16127560                       0                       0.25                                              6.5          JOHNSON CITY                                      TN                                 37604          2-4 Family
           16127561                       0                       0.25                                             5.75          LARGO                                             FL                                 33770          2-4 Family
           16127562                       0                       0.25                                            6.125          FRISCO                                            TX                                 75035          PUD
           16127563                       0                       0.25                                             5.75          LOS ANGELES                                       CA                                 90018          2-4 Family
           16127565                       0                       0.25                                                6          YAKIMA                                            WA                                 98902          2-4 Family
           16127566                       0                       0.25                                            5.375          ESTERO                                            FL                                 33928          Condominium
           16127567                       0                       0.25                                                6          SHORELINE                                         WA                                 98133          2-4 Family
           16127568                       0                       0.25                                              5.5          OAKLAND PARK                                      FL                                 33309          Condominium
           16127569                       0                       0.25                                             6.25          MINNEAPOLIS                                       MN                                 55406          Single Family
           16127570                       0                       0.25                                            5.875          DELRAY BEACH                                      FL                                 33445          Condominium
           16127571                       0                       0.25                                              6.5          NEWPORT BEACH                                     CA                                 92663          2-4 Family
           16127572                       0                      0.375                                            6.125          CAPE CORAL                                        FL                                 33909          Single Family
           16127573                       0                       0.25                                            6.125          SPANAWAY                                          WA                                 98387          Single Family
           16127574                       0                       0.25                                            6.125          LAND O LAKES                                      FL                                 34639          Townhouse
           16127575                       0                       0.25                                            6.625          BRADENTON                                         FL                                 34207          Condominium
           16127576                       0                       0.25                                                6          SHORELINE                                         WA                                 98133          2-4 Family
           16127577                       0                       0.25                                            5.875          DAVENPORT                                         FL                                 33897          PUD
           16127578                       0                       0.25                                            5.875          BOSTON                                            MA                                  2115          Condominium
           16127541                       0                      0.375                                            5.875          LOS ANGELES                                       CA                                 90003          2-4 Family
           16127542                       0                       0.25                                            5.375          SAN DIEGO                                         CA                                 92105          Condominium
           16127543                       0                       0.25                                             5.75          OAKLAND PARK                                      FL                                 33309          Condominium
           16127544                       0                       0.25                                             5.75          JOSHUA TREE                                       CA                                 92252          Single Family
           16127545                       0                       0.25                                              5.5          HOMER GLEN                                        IL                                 60491          Condominium
           16127546                       0                       0.25                                            5.875          BELLEVILLE                                        IL                                 62221          2-4 Family
           16127535                       0                       0.25                                             5.75          EDMOND                                            OK                                 73013          Single Family
           16127536                       0                       0.25                                            5.875          ST. AUGUSTINE                                     FL                                 32092          PUD
           16127537                       0                       0.25                                             6.75          COXSACKIE                                         NY                                 12051          2-4 Family
           16127538                       0                       0.25                                                6          POINCIANA                                         FL                                 34758          2-4 Family
           16127539                       0                       0.25                                             5.75          STONE MOUNTAIN                                    GA                                 30087          Townhouse
           16127540                       0                       0.25                                             5.75          EDGEWATER                                         FL                                 32132          PUD
           16127499                       0                       0.25                                                5          SUN CITY WEST                                     AZ                                 85375          Single Family
           16127500                       0                       0.25                                             5.25          MECHANICSVILLE                                    VA                                 23116          Single Family
           16127501                       0                       0.25                                            5.625          WICHITA                                           KS                                 67207          Single Family
           16127502                       0                      0.375                                            5.375          PORT ST LUCIE                                     FL                                 34953          PUD
           16048088                       0                       0.25                                            6.625          SYLMAR                                            CA                                 91342          Condominium
           16047971                       0                       0.25                                              6.5          SCOTTSDALE                                        AZ                                 85259          PUD
           16047977                       0                       0.25                                             6.25          WRIGHTSVILLE BEACH                                NC                                 28480          Condominium
           16047989                       0                       0.25                                             6.25          LEESBURG                                          VA                                 20176          PUD
           16047990                       0                       0.25                                            5.625          SOUTHLAKE                                         TX                                 76092          PUD
           16047991                       0                       0.25                                             6.25          WINTERGREEN                                       VA                                 22958          PUD
           16047992                       0                       0.25                                            6.125          CLARKSBURG                                        MD                                 20871          PUD
           16047994                       0                       0.25                                              6.5          BRISTOW                                           VA                                 20136          PUD
           16048002                       0                       0.25                                             6.25          LEESBURG                                          VA                                 20176          PUD
           16048004                       0                       0.25                                            5.375          LOS ANGELES                                       CA                                 90045          Single Family
           16048006                       0                       0.25                                            6.375          MONROE TOWNSHIP                                   NJ                                  8831          Single Family
           16048008                       0                       0.25                                             6.25          ELK GROVE                                         CA                                 95624          Single Family
           16048012                       0                       0.25                                             5.75          SAN JOSE                                          CA                                 95127          Single Family
           16048014                       0                       0.25                                             7.25          CAPE CORAL                                        FL                                 33904          Single Family
           16048015                       0                       0.25                                            6.375          GARDEN GROVE                                      CA                                 92843          PUD
           16048018                       0                       0.25                                              6.5          PEORIA                                            AZ                                 85383          PUD
           16048019                       0                       0.25                                            6.125          BONSALL                                           CA                                 92003          Single Family
           16048020                       0                       0.25                                             6.25          SPRINGVILLE                                       UT                                 84663          Single Family
           16048021                       0                       0.25                                            6.375          ASHBURN                                           VA                                 20147          PUD
           16048024                       0                       0.25                                             6.75          ALPHARETTA                                        GA                                 30004          Single Family
           16048033                       0                       0.25                                            6.125          HOUSTON                                           TX                                 77024          Single Family
           16048037                       0                       0.25                                              6.5          LAS VEGAS                                         NV                                 89139          PUD
           16048045                       0                       0.25                                            5.875          HOLMDEL                                           NJ                                  7733          Single Family
           16048046                       0                       0.25                                             6.25          GROTON                                            CT                                  6340          Single Family
           16048048                       0                       0.25                                              7.5          LAWRENCE                                          NY                                 11559          Single Family
           16048049                       0                       0.25                                              6.5          WEST BLOOMFIELD                                   MI                                 48322          Single Family
           16048050                       0                       0.25                                              6.5          MONTEREY PARK                                     CA                                 91754          Single Family
           16048068                       0                       0.25                                            5.375          MOUNT VERNON                                      NY                                 10553          2-4 Family
           16048082                       0                       0.25                                             7.25          TAMPA                                             FL                                 33625          Single Family
           16047965                       0                       0.25                                                5          SAN DIEGO                                         CA                                 92127          PUD
           16047967                       0                       0.25                                              5.5          SARASOTA                                          FL                                 34243          PUD
           16047968                       0                       0.25                                             5.25          WHITE PLAINS                                      MD                                 20695          PUD
           16047970                       0                       0.25                                            5.875          FORT LUPTON                                       CO                                 80621          PUD
           16047972                       0                       0.25                                             6.25          LEAWOOD                                           KS                                 66209          Single Family
           16047973                       0                       0.25                                            6.125          RIDGEFIELD                                        CT                                  6877          Single Family
           16047976                       0                       0.25                                             6.25          EAGAN                                             MN                                 55123          PUD
           16047978                       0                       0.25                                            5.875          YORBA LINDA                                       CA                                 92886          Single Family
           16047980                       0                       0.25                                            5.875          LOMPOC                                            CA                                 93436          PUD
           16047983                       0                       0.25                                                6          FILLMORE                                          CA                                 93015          Single Family
           16047984                       0                       0.25                                             6.25          WASHINGTON                                        DC                                 20009          Condominium
           16047985                       0                       0.25                                            6.875          SYOSSET                                           NY                                 11791          Single Family
           16047987                       0                       0.25                                             6.25          RENO                                              NV                                 89521          PUD
           16047988                       0                       0.25                                            6.875          PARKER                                            CO                                 80134          PUD
           16047993                       0                       0.25                                            6.375          DANA POINT                                        CA                                 92629          Condominium
           16047995                       0                       0.25                                            6.625          LOS ANGELES                                       CA                                 90056          Single Family
           16047996                       0                       0.25                                              5.5          OAKLAND                                           CA                                 94608          Condominium
           16047997                       0                       0.25                                            7.625          FREDERICK                                         MD                                 21704          PUD
           16047998                       0                       0.25                                            5.625          CARLSBAD                                          CA                                 92009          PUD
           16047999                       0                       0.25                                            5.125          OAKLAND                                           CA                                 94608          Condominium
           16048000                       0                       0.25                                            6.875          NEWTON                                            MA                                  2466          Single Family
           16048001                       0                       0.25                                            6.625          MOAB                                              UT                                 84532          Single Family
           16048003                       0                       0.25                                              5.5          NORTH LAS VEGAS                                   NV                                 89084          Single Family
           16048005                       0                       0.25                                              6.5          LAUREL                                            MD                                 20707          PUD
           16048007                       0                       0.25                                            5.875          WARRENTON                                         VA                                 20186          PUD
           16048009                       0                       0.25                                            6.875          LAKEVILLE                                         MN                                 55044          Single Family
           16048010                       0                       0.25                                              6.5          LAS VEGAS                                         NV                                 89179          PUD
           16048011                       0                       0.25                                            5.875          SIMI VALLEY                                       CA                                 93065          Single Family
           16048013                       0                       0.25                                            6.125          PLACITAS                                          NM                                 87043          PUD
           16048016                       0                       0.25                                             4.25          STERLING                                          VA                                 20166          PUD
           16048017                       0                       0.25                                                6          SAN DIEGO                                         CA                                 92130          PUD
           16048022                       0                       0.25                                            5.875          CARLSBAD                                          CA                                 92009          PUD
           16048023                       0                       0.25                                            5.875          NAPA                                              CA                                 94558          Single Family
           16048025                       0                       0.25                                            6.125          LINCOLN                                           CA                                 95648          PUD
           16048027                       0                       0.25                                            5.625          LA QUINTA                                         CA                                 92253          Single Family
           16048028                       0                       0.25                                             6.25          LITTLE NECK                                       NY                                 11362          2-4 Family
           16048029                       0                       0.25                                            6.375          DUBLIN                                            CA                                 94568          Condominium
           16048030                       0                       0.25                                                6          PARKER                                            CO                                 80138          PUD
           16048031                       0                       0.25                                            6.125          CORONA                                            CA                                 92883          PUD
           16048032                       0                       0.25                                              6.5          ANAHEIM                                           CA                                 92805          Single Family
           16048034                       0                       0.25                                             6.25          MARIETTA                                          GA                                 30062          Single Family
           16048035                       0                       0.25                                            6.125          MARTINEZ                                          CA                                 94553          Single Family
           16048036                       0                       0.25                                            6.125          RENTON                                            WA                                 98059          PUD
           16048039                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 91040          Single Family
           16048040                       0                       0.25                                              4.5          MOORESVILLE                                       NC                                 28117          Single Family
           16048041                       0                       0.25                                            5.875          FRIPP ISLAND                                      SC                                 29920          PUD
           16048042                       0                       0.25                                            5.875          MOUNTAIN HOUSE                                    CA                                 95391          Single Family
           16048043                       0                       0.25                                             5.75          FORT COLLINS                                      CO                                 80526          Single Family
           16048044                       0                       0.25                                            5.875          PASADENA                                          CA                                 91105          Condominium
           16048047                       0                       0.25                                            6.875          NORTH PALM BEACH                                  FL                                 33408          Single Family
           16048051                       0                       0.25                                            5.875          MANHATTAN BEACH                                   CA                                 90266          Condominium
           16048052                       0                       0.25                                            5.875          LAS VEGAS                                         NV                                 89102          PUD
           16048053                       0                       0.25                                             6.25          LA QUINTA                                         CA                                 92253          PUD
           16048054                       0                       0.25                                            6.375          RANCHO CUCAMONGA                                  CA                                 91737          Single Family
           16048055                       0                       0.25                                            5.625          WOODLAND                                          CA                                 95695          Single Family
           16048057                       0                       0.25                                              5.5          INGLEWOOD                                         CA                                 90305          Single Family
           16048058                       0                       0.25                                              6.5          GOODLAND                                          FL                                 34140          Condominium
           16048059                       0                       0.25                                            6.125          WOODLAND HILLS/LOS ANGELE                         CA                                 91367          Single Family
           16048060                       0                       0.25                                              5.5          WESTFIELD                                         NJ                                  7090          Single Family
           16048061                       0                       0.25                                            5.875          INGLEWOOD                                         CA                                 90305          PUD
           16048063                       0                       0.25                                            6.625          TORRANCE                                          CA                                 90503          PUD
           16048064                       0                       0.25                                            5.875          LEESBURG                                          VA                                 20175          Single Family
           16048066                       0                       0.25                                             5.75          ELMHURST                                          IL                                 60126          Single Family
           16048067                       0                       0.25                                            5.875          ACCOKEEK                                          MD                                 20607          PUD
           16048070                       0                       0.25                                             6.25          FREDERICK                                         MD                                 21704          PUD
           16048071                       0                       0.25                                            5.875          ELMHURST                                          IL                                 60126          Single Family
           16048072                       0                       0.25                                             6.25          CASTRO VALLEY                                     CA                                 94546          Single Family
           16048073                       0                       0.25                                                6          LIVERMORE                                         CA                                 94550          Single Family
           16048074                       0                       0.25                                            5.375          BELLEVUE                                          WA                                 98004          Single Family
           16048075                       0                       0.25                                             5.75          OXNARD                                            CA                                 93030          Single Family
           16048076                       0                       0.25                                              5.5          MERRITT ISLAND                                    FL                                 32953          PUD
           16048077                       0                       0.25                                            5.875          CLARKSBURG                                        MD                                 20871          PUD
           16048078                       0                       0.25                                             6.25          SAN DIEGO                                         CA                                 92154          Single Family
           16048079                       0                       0.25                                            5.875          MESA                                              AZ                                 85207          PUD
           16048080                       0                       0.25                                            6.375          FORT WALTON BEACH                                 FL                                 32548          Condominium
           16048081                       0                       0.25                                                6          JERSEY CITY                                       NJ                                  7302          Condominium
           16048083                       0                       0.25                                             6.25          DAVIE                                             FL                                 33330          PUD
           16048084                       0                       0.25                                            5.875          STREAMWOOD                                        IL                                 60107          Single Family
           16048086                       0                       0.25                                            6.125          FULLERTON                                         CA                                 92833          Single Family
           16048087                       0                       0.25                                            6.375          ANNANDALE                                         VA                                 22003          Single Family
           16166797                       0                       0.25                                             5.75          HONOLULU                                          HI                                 96821          Single Family
           16166649                       0                       0.25                                            5.875          CHICAGO                                           IL                                 60646          PUD
           16166730                       0                       0.25                                            5.875          SCOTTSDALE                                        AZ                                 85255          PUD
           16166615                       0                       0.25                                            6.375          KAILUA KONA                                       HI                                 96740          Single Family
           16166582                       0                       0.25                                             6.25          POMPANO BEACH                                     FL                                 33069          Single Family
           16166471                       0                       0.25                                             6.25          SEDONA                                            AZ                                 86336          Single Family
           16166475                       0                       0.25                                            5.875          HERNDON                                           VA                                 20171          Single Family
           16166437                       0                       0.25                                              6.5          OCEANSIDE                                         CA                                 92054          Single Family
           16166450                       0                       0.25                                            6.375          COTO DE CAZA                                      CA                                 92679          PUD
           16166320                       0                       0.25                                            5.875          FULLERTON                                         CA                                 92831          Single Family
           16166337                       0                       0.25                                              6.5          NORTH VENICE                                      FL                                 34275          PUD
           16166347                       0                       0.25                                             6.75          DANVILLE                                          CA                                 94506          PUD
           16166275                       0                       0.25                                             5.75          GREENWICH                                         CT                                  6830          Single Family
           16166095                       0                       0.25                                              6.5          INVERNESS                                         IL                                 60010          PUD
           16166097                       0                       0.25                                             6.75          JACKSON                                           WY                                 83001          PUD
           16166101                       0                       0.25                                                6          LEES SUMMIT                                       MO                                 64064          Single Family
           16166119                       0                       0.25                                             5.75          SAN MARCOS                                        CA                                 92069          Single Family
           16166120                       0                       0.25                                            6.125          BIRMINGHAM                                        MI                                 48009          Single Family
           16166134                       0                       0.25                                            6.625          PHOENIX                                           AZ                                 85012          PUD
           16166140                       0                       0.25                                             6.25          MADISON                                           WI                                 53717          Single Family
           16166146                       0                       0.25                                            6.125          SANTA FE                                          NM                                 87506          Single Family
           16166150                       0                       0.25                                            5.875          SANTA CLARA                                       CA                                 95054          PUD
           16166158                       0                       0.25                                              6.5          OXFORD                                            MI                                 48371          Single Family
           16166162                       0                       0.25                                                6          LITCHFIELD PARK                                   AZ                                 85340          Single Family
           16166165                       0                       0.25                                            5.875          ALEXANDRIA                                        VA                                 22305          PUD
           16166190                       0                       0.25                                            6.875          MALVERN                                           PA                                 19355          PUD
           16166191                       0                       0.25                                            5.875          EL SOBRANTE                                       CA                                 94803          Single Family
           16166192                       0                       0.25                                             6.75          DESTIN                                            FL                                 32541          PUD
           16166250                       0                       0.25                                            6.875          CORONA                                            CA                                 92880          Single Family
           16166072                       0                       0.25                                              6.5          REISTERSTOWN                                      MD                                 21136          PUD
           16166081                       0                       0.25                                            5.875          ORANGE BEACH                                      AL                                 36561          Single Family
           16166088                       0                       0.25                                            6.125          UXBRIDGE                                          MA                                  1569          Single Family
           16166094                       0                       0.25                                             6.25          SAINT LOUIS                                       MO                                 63141          Single Family
           16166794                       0                       0.25                                            6.375          SAN JOSE                                          CA                                 95125          Condominium
           16166798                       0                       0.25                                            6.125          SAN JOSE                                          CA                                 95127          Single Family
           16166747                       0                       0.25                                            5.875          SAUGUS                                            CA                                 91350          PUD
           16166751                       0                       0.25                                                6          LOS ANGELES                                       CA                                 91343          Condominium
           16166754                       0                       0.25                                            5.125          CHINO HILLS                                       CA                                 91709          Single Family
           16166759                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 91367          Single Family
           16166763                       0                       0.25                                             6.25          ORLANDO                                           FL                                 32828          PUD
           16166766                       0                       0.25                                                6          GILBERT                                           AZ                                 85296          PUD
           16166768                       0                       0.25                                                8          GLENDALE                                          CA                                 91201          Single Family
           16166769                       0                       0.25                                            6.375          MIRAMAR BEACH                                     FL                                 32550          PUD
           16166771                       0                       0.25                                            5.875          QUAKERTOWN                                        PA                                 18951          Single Family
           16166734                       0                       0.25                                            6.125          FORT LAUDERDALE                                   FL                                 33316          Single Family
           16166735                       0                       0.25                                            6.875          RANCHO CORDOVA                                    CA                                 95742          PUD
           16166736                       0                       0.25                                            6.375          ROCKVILLE                                         MD                                 20850          PUD
           16166738                       0                       0.25                                            5.875          NORTH SALT LAKE                                   UT                                 84054          PUD
           16166631                       0                       0.25                                            5.875          MORGAN HILL                                       CA                                 95037          Single Family
           16166632                       0                       0.25                                            5.125          CANOGA PARK                                       CA                                 91304          Single Family
           16166635                       0                       0.25                                            6.125          SPRINGFIELD                                       VA                                 22151          Single Family
           16166642                       0                       0.25                                                6          SAN JOSE                                          CA                                 95128          Single Family
           16166644                       0                       0.25                                              6.5          ASHBURN                                           VA                                 20148          PUD
           16166653                       0                       0.25                                            5.875          SAMMAMISH                                         WA                                 98075          Single Family
           16166657                       0                       0.25                                            5.875          DALY CITY                                         CA                                 94015          Single Family
           16166662                       0                       0.25                                            5.875          HOBOKEN CITY                                      NJ                                  7030          Condominium
           16166665                       0                       0.25                                              6.5          MEDFORD                                           MA                                  2155          Single Family
           16166667                       0                       0.25                                            6.125          REDMOND                                           WA                                 98052          Single Family
           16166680                       0                       0.25                                             6.25          ALPINE                                            UT                                 84004          Single Family
           16166693                       0                       0.25                                              6.5          MARATHON                                          FL                                 33050          Condominium
           16166694                       0                       0.25                                                7          MCLEAN                                            VA                                 22101          Single Family
           16166696                       0                       0.25                                                6          CANYON LAKE                                       CA                                 92587          PUD
           16166701                       0                       0.25                                            6.125          HUNTINGTON BEACH                                  CA                                 92648          PUD
           16166703                       0                       0.25                                             6.25          UPLAND                                            CA                                 91784          PUD
           16166705                       0                       0.25                                            6.125          TORRANCE                                          CA                                 90501          Single Family
           16166713                       0                       0.25                                             6.75          SALINAS                                           CA                                 93907          Single Family
           16166715                       0                       0.25                                              6.5          LOS ANGELES                                       CA                                 91436          Single Family
           16166719                       0                       0.25                                            6.125          HENDERSON                                         NV                                 89052          PUD
           16166722                       0                       0.25                                                6          OAKLAND PARK                                      FL                                 33309          PUD
           16166584                       0                       0.25                                                6          STONEHAM                                          MA                                  2180          Single Family
           16166587                       0                       0.25                                             5.75          SALINAS                                           CA                                 93906          Single Family
           16166589                       0                       0.25                                            6.875          RIVERSIDE                                         CA                                 92506          Single Family
           16166590                       0                       0.25                                            7.625          RIVERSIDE                                         CA                                 92503          Single Family
           16166596                       0                       0.25                                            5.875          EAST TROY                                         WI                                 53120          Single Family
           16166598                       0                       0.25                                            5.375          SIMI VALLEY                                       CA                                 93063          PUD
           16166602                       0                       0.25                                            6.125          DUARTE                                            CA                                 91010          Single Family
           16166604                       0                       0.25                                            6.375          BEND                                              OR                                 97702          PUD
           16166605                       0                       0.25                                             6.25          TUSTIN                                            CA                                 92782          PUD
           16166606                       0                       0.25                                              6.5          ALISO VIEJO                                       CA                                 92656          PUD
           16166609                       0                       0.25                                             6.25          MARATHON                                          FL                                 33050          Single Family
           16166611                       0                       0.25                                             6.25          BURBANK                                           CA                                 91504          Single Family
           16166574                       0                       0.25                                             6.25          CHINO                                             CA                                 91710          Single Family
           16166578                       0                       0.25                                             6.25          EMERYVILLE                                        CA                                 94608          Condominium
           16166456                       0                       0.25                                             6.25          MANHATTAN BEACH                                   CA                                 90266          Single Family
           16166472                       0                       0.25                                              6.5          OAKLEY                                            CA                                 94561          Single Family
           16166473                       0                       0.25                                            6.375          HUNTINGTON BEACH                                  CA                                 92648          Single Family
           16166476                       0                       0.25                                            6.875          LAS VEGAS                                         NV                                 89148          PUD
           16166479                       0                       0.25                                            6.375          DARIEN                                            CT                                  6820          Single Family
           16166481                       0                       0.25                                             6.25          PANAMA CITY BEACH                                 FL                                 32413          PUD
           16166482                       0                       0.25                                                6          COCHRANVILLE                                      PA                                 19330          PUD
           16166483                       0                       0.25                                            6.125          GAITHERSBURG                                      MD                                 20878          PUD
           16166493                       0                       0.25                                            5.625          LOS ALTOS HILLS                                   CA                                 94024          Single Family
           16166497                       0                       0.25                                              6.5          CAVE CREEK                                        AZ                                 85331          PUD
           16166498                       0                       0.25                                             6.25          LAS VEGAS                                         NV                                 89129          PUD
           16166500                       0                       0.25                                            6.125          ONTARIO                                           CA                                 91761          Single Family
           16166501                       0                       0.25                                             6.75          LAS VEGAS                                         NV                                 89141          PUD
           16166504                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95120          Single Family
           16166505                       0                       0.25                                             6.25          HERMOSA BEACH                                     CA                                 90254          Condominium
           16166510                       0                       0.25                                            6.375          BERKELEY                                          CA                                 94705          Single Family
           16166527                       0                       0.25                                            6.125          HUNTINGTON BEACH                                  CA                                 92646          Single Family
           16166528                       0                       0.25                                             6.25          JAMUL                                             CA                                 91935          Single Family
           16166531                       0                       0.25                                              5.5          GARDEN GROVE                                      CA                                 92840          Single Family
           16166534                       0                       0.25                                            6.375          SAN LUIS OBISPO                                   CA                                 93405          Single Family
           16166535                       0                       0.25                                             6.25          REDONDO BEACH                                     CA                                 90278          Condominium
           16166536                       0                       0.25                                             5.25          LA QUINTA                                         CA                                 92253          Condominium
           16166542                       0                       0.25                                             6.25          LAKE OSWEGO                                       OR                                 97035          Single Family
           16166554                       0                       0.25                                                6          DALY CITY                                         CA                                 94015          Condominium
           16166555                       0                       0.25                                              6.5          LOS ANGELES                                       CA                                 91326          Single Family
           16166556                       0                       0.25                                            6.375          BRENTWOOD                                         CA                                 94513          Single Family
           16166563                       0                       0.25                                            5.875          BOWIE                                             MD                                 20716          PUD
           16166570                       0                       0.25                                             6.25          NORTH HOLLYWOOD                                   CA                                 91607          Single Family
           16166413                       0                       0.25                                             5.75          RICHMOND                                          KY                                 40475          Single Family
           16166414                       0                       0.25                                             6.25          DILLON                                            CO                                 80435          PUD
           16166415                       0                       0.25                                            6.375          MOUNTAIN VILLAGE                                  CO                                 81435          Condominium
           16166416                       0                       0.25                                             4.75          SHERWOOD                                          OR                                 97140          Single Family
           16166423                       0                       0.25                                            6.375          CORONA                                            CA                                 92883          PUD
           16166424                       0                       0.25                                             5.25          BROADLANDS                                        VA                                 20148          PUD
           16166438                       0                       0.25                                              6.5          SAN DIEGO                                         CA                                 92120          Single Family
           16166440                       0                       0.25                                              6.5          MERRITT ISLAND                                    FL                                 32952          Single Family
           16166329                       0                       0.25                                            6.375          LANCASTER                                         CA                                 93536          Single Family
           16166345                       0                       0.25                                            5.875          SAN DIEGO                                         CA                                 92131          PUD
           16166350                       0                       0.25                                                6          PALM SPRINGS                                      CA                                 92262          Single Family
           16166354                       0                       0.25                                            6.125          SANTA ANA                                         CA                                 92704          Single Family
           16166355                       0                       0.25                                             6.25          GILROY                                            CA                                 95020          Single Family
           16166356                       0                       0.25                                             6.25          ANAHEIM HILLS                                     CA                                 92807          PUD
           16166362                       0                       0.25                                            6.125          HOUSTON                                           TX                                 77007          Single Family
           16166363                       0                       0.25                                            5.625          IRVINE                                            CA                                 92612          PUD
           16166369                       0                       0.25                                            5.875          MOORPARK                                          CA                                 93021          PUD
           16166370                       0                       0.25                                             6.75          PLEASANTON                                        CA                                 94566          Single Family
           16166371                       0                       0.25                                            5.875          OCEAN CITY                                        NJ                                  8226          Condominium
           16166373                       0                       0.25                                             6.25          RENO                                              NV                                 89512          PUD
           16166376                       0                       0.25                                            5.125          PETALUMA                                          CA                                 94954          Single Family
           16166401                       0                       0.25                                              5.5          HAYMARKET                                         VA                                 20169          PUD
           16166402                       0                       0.25                                            5.375          LOS ANGELES                                       CA                                 90007          Single Family
           16166405                       0                       0.25                                             5.75          LONGBRANCH                                        WA                                 98351          Single Family
           16166408                       0                       0.25                                            6.625          SCHAUMBURG                                        IL                                 60195          Single Family
           16166409                       0                       0.25                                            5.625          EVERGREEN                                         CO                                 80439          PUD
           16166410                       0                       0.25                                            6.875          LOS ANGELES                                       CA                                 90065          Single Family
           16166412                       0                       0.25                                            5.375          FURLONG                                           PA                                 18925          PUD
           16166284                       0                       0.25                                            6.125          FORT LAUDERDALE                                   FL                                 33301          PUD
           16166287                       0                       0.25                                            5.875          CINCINNATI                                        OH                                 45242          Single Family
           16166292                       0                       0.25                                                6          ROSELAND                                          NJ                                  7068          Condominium
           16166293                       0                       0.25                                            6.375          SAN RAMON                                         CA                                 94583          PUD
           16166294                       0                       0.25                                            5.875          STOCKTON                                          CA                                 95207          Single Family
           16166300                       0                       0.25                                                6          VENTURA                                           CA                                 93003          Single Family
           16166302                       0                       0.25                                                6          SAN CLEMENTE                                      CA                                 92673          PUD
           16166316                       0                       0.25                                                6          WOODINVILLE                                       WA                                 98077          Single Family
           16166096                       0                       0.25                                            5.875          MEDFORD                                           OR                                 97504          PUD
           16166099                       0                       0.25                                             5.75          LEESBURG                                          VA                                 20175          PUD
           16166103                       0                       0.25                                              7.5          SAN RAMON                                         CA                                 94583          Single Family
           16166105                       0                       0.25                                                6          TRIANGLE                                          VA                                 22172          PUD
           16166111                       0                       0.25                                             6.75          SAN MARCOS                                        CA                                 92078          Single Family
           16166114                       0                       0.25                                            6.125          LAGUNA NIGUEL                                     CA                                 92677          Condominium
           16166117                       0                       0.25                                            6.125          HENDERSON                                         NV                                 89052          PUD
           16166131                       0                       0.25                                             6.25          GAITHERSBURG                                      MD                                 20878          PUD
           16166132                       0                       0.25                                              6.5          NORFOLK                                           VA                                 23505          Single Family
           16166133                       0                       0.25                                            5.625          LAS VEGAS                                         NV                                 89131          PUD
           16166139                       0                       0.25                                             5.75          GAITHERSBURG                                      MD                                 20878          PUD
           16166144                       0                       0.25                                            7.625          FREMONT                                           CA                                 94538          PUD
           16166171                       0                       0.25                                             6.25          LAS VEGAS                                         NV                                 89139          PUD
           16166172                       0                       0.25                                                7          REDWOOD CITY                                      CA                                 94062          Single Family
           16166173                       0                       0.25                                            5.875          DAVIDSONVILLE                                     MD                                 21035          PUD
           16166174                       0                       0.25                                                6          WILLIAMSBURG                                      VA                                 23185          Single Family
           16166181                       0                       0.25                                            6.875          LOS ANGELES                                       CA                                 90048          Single Family
           16166184                       0                       0.25                                            5.875          SAN DIEGO                                         CA                                 92130          Single Family
           16166186                       0                       0.25                                            4.875          SNOWMASS VILLAGE                                  CO                                 81615          Single Family
           16166195                       0                       0.25                                            6.375          PALM SPRINGS                                      CA                                 92262          PUD
           16166196                       0                       0.25                                            6.375          DIAMOND BAR                                       CA                                 91765          Single Family
           16166205                       0                       0.25                                            5.875          HARTLAND                                          WI                                 53029          PUD
           16166210                       0                       0.25                                              6.5          IRVINE                                            CA                                 92602          Single Family
           16166211                       0                       0.25                                            6.625          SACRAMENTO                                        CA                                 95822          Single Family
           16166212                       0                       0.25                                            6.625          SAN FRANCISCO                                     CA                                 94112          Single Family
           16166214                       0                       0.25                                             6.25          GAINESVILLE                                       VA                                 20155          PUD
           16166215                       0                       0.25                                             5.75          CONCORD                                           CA                                 94519          Single Family
           16166219                       0                       0.25                                              6.5          GOODYEAR                                          AZ                                 85338          PUD
           16166222                       0                       0.25                                                6          SAN JOSE                                          CA                                 95123          Single Family
           16166229                       0                       0.25                                                6          SIMI VALLEY                                       CA                                 93065          PUD
           16166230                       0                       0.25                                            6.125          LAKEWOOD                                          CA                                 90713          Single Family
           16166239                       0                       0.25                                             5.99          RAMONA                                            CA                                 92065          Single Family
           16166243                       0                       0.25                                            6.125          CLOVIS                                            CA                                 93611          Single Family
           16166244                       0                       0.25                                             6.25          LONG BEACH                                        CA                                 90808          Condominium
           16166258                       0                       0.25                                             6.25          WESTMINSTER                                       CA                                 92683          Single Family
           16166261                       0                       0.25                                            5.875          LADERA RANCH AREA                                 CA                                 92694          Condominium
           16166262                       0                       0.25                                             6.25          ELMHURST                                          IL                                 60126          Single Family
           16166264                       0                       0.25                                             6.75          SANTA FE                                          NM                                 87505          Single Family
           16166265                       0                       0.25                                                6          BOSTON                                            MA                                  2108          Single Family
           16166070                       0                       0.25                                             5.25          GLEN MILLS                                        PA                                 19342          PUD
           16166071                       0                       0.25                                            5.375          NOVATO                                            CA                                 94947          Single Family
           16166073                       0                       0.25                                            5.625          SANTA FE                                          NM                                 87506          Single Family
           16166077                       0                       0.25                                             6.25          CERES                                             CA                                 95307          Single Family
           16166079                       0                       0.25                                             6.25          LAS VEGAS                                         NV                                 89139          PUD
           16166085                       0                       0.25                                            6.625          CARPINTERIA                                       CA                                 93013          PUD
           16166087                       0                       0.25                                            6.625          EL DORADO HILLS                                   CA                                 95762          PUD
           16166093                       0                       0.25                                            5.875          LANCASTER                                         CA                                 93536          Single Family
           16184179                       0                       0.25                                                6          ALEXANDRIA                                        VA                                 22301          Single Family
           16184180                       0                       0.25                                              6.5          PHOENIX                                           AZ                                 85050          Single Family
           16184181                       0                       0.25                                            6.125          CHATHAM                                           NJ                                  7928          Single Family
           16184183                       0                       0.25                                            6.375          PLEASANT HILL                                     CA                                 94523          PUD
           16184184                       0                       0.25                                             6.25          PASO ROBLES                                       CA                                 93446          Single Family
           16184185                       0                       0.25                                             6.25          CLARKSBURG                                        MD                                 20871          PUD
           16184186                       0                       0.25                                                6          PANAMA CITY BEACH                                 FL                                 32408          Single Family
           16184187                       0                       0.25                                            6.375          PASADENA                                          MD                                 21122          Single Family
           16184188                       0                       0.25                                             6.75          EL DORADO HILLS                                   CA                                 95762          PUD
           16184189                       0                       0.25                                            6.375          TRUCKEE                                           CA                                 96161          PUD
           16184191                       0                       0.25                                              6.5          LA HABRA                                          CA                                 90631          Single Family
           16184193                       0                       0.25                                            6.625          RICHMOND                                          CA                                 94803          PUD
           16184195                       0                       0.25                                            6.375          CAPTAIN COOK                                      HI                                 96704          Single Family
           16184196                       0                       0.25                                            6.625          PATTERSON                                         CA                                 95363          Single Family
           16184198                       0                       0.25                                            6.125          YUCAIPA                                           CA                                 92399          PUD
           16184199                       0                       0.25                                             6.25          EDENTON                                           NC                                 27932          Single Family
           16184200                       0                       0.25                                            6.375          FALLBROOK                                         CA                                 92028          PUD
           16184202                       0                       0.25                                            6.125          SANTA CLARA                                       CA                                 95051          PUD
           16184203                       0                       0.25                                             6.25          RANCHO CUCAMONGA                                  CA                                 91739          Single Family
           16184204                       0                       0.25                                             6.25          SAN MARCOS                                        CA                                 92078          PUD
           16184205                       0                       0.25                                            6.625          CARLSBAD                                          CA                                 92009          PUD
           16184209                       0                       0.25                                                6          MENIFEE                                           CA                                 92584          Single Family
           16184212                       0                       0.25                                            6.875          SAN DIEGO                                         CA                                 92130          PUD
           16184214                       0                       0.25                                            6.125          HENDERSON                                         NV                                 89015          PUD
           16184217                       0                       0.25                                            5.875          COS COB                                           CT                                  6807          Single Family
           16184218                       0                       0.25                                            5.875          LAKE HAVASU CITY                                  AZ                                 86406          Single Family
           16184219                       0                       0.25                                                6          JERSEY CITY                                       NJ                                  7305          Condominium
           16184220                       0                       0.25                                              6.5          PORTLAND                                          OR                                 97225          Single Family
           16184221                       0                       0.25                                             6.25          ANAHEIM                                           CA                                 92804          Single Family
           16184223                       0                       0.25                                            6.375          CHULA VISTA                                       CA                                 91915          PUD
           16184224                       0                       0.25                                            6.375          ALHAMBRA                                          CA                                 91801          Single Family
           16184225                       0                       0.25                                             5.75          LAS VEGAS                                         NV                                 89129          PUD
           16184226                       0                       0.25                                            5.875          CORONA                                            CA                                 92883          PUD
           16184227                       0                       0.25                                             6.25          NEWCASTLE                                         WA                                 98059          Single Family
           16184228                       0                       0.25                                             6.25          ORLAND PARK                                       IL                                 60467          Single Family
           16184229                       0                       0.25                                              6.5          LINCOLNWOOD                                       IL                                 60712          Single Family
           16184230                       0                       0.25                                             6.75          JAMAICA                                           NY                                 11435          2-4 Family
           16184232                       0                       0.25                                            6.625          VENICE                                            FL                                 34229          Single Family
           16184234                       0                       0.25                                             6.25          RANCHO MIRAGE                                     CA                                 92270          Single Family
           16184236                       0                       0.25                                            6.375          EDGARTOWN                                         MA                                  2539          Single Family
           16184239                       0                       0.25                                            6.125          MOORPARK                                          CA                                 93021          Single Family
           16184241                       0                       0.25                                            5.875          DANA POINT                                        CA                                 92629          Condominium
           16184245                       0                       0.25                                            6.625          FOUNTAIN VALLEY                                   CA                                 92708          Single Family
           16184257                       0                       0.25                                            6.375          BAKERSFIELD                                       CA                                 93306          PUD
           16184259                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 91344          Single Family
           16184262                       0                       0.25                                            6.375          LA QUINTA                                         CA                                 92253          PUD
           16184265                       0                       0.25                                            6.375          KNOXVILLE                                         TN                                 37922          Single Family
           16184266                       0                       0.25                                              6.5          OXNARD                                            CA                                 93035          Single Family
           16184268                       0                       0.25                                                6          CONCORD                                           CA                                 94518          Single Family
           16184176                       0                       0.25                                            5.875          KEY WEST                                          FL                                 33040          Single Family
           16184177                       0                       0.25                                              6.5          TOWN OF BLOOMING GROVE                            NY                                 10992          Single Family
           16166799                       0                       0.25                                            6.375          SAN MARCOS                                        CA                                 92078          PUD
           16166800                       0                       0.25                                            6.875          MOORESVILLE                                       NC                                 28117          Single Family
           16166802                       0                       0.25                                             6.75          CAMARILLO                                         CA                                 93012          Single Family
           16166756                       0                       0.25                                            6.375          CONCORD                                           MA                                  1742          Single Family
           16166760                       0                       0.25                                            5.875          MOUNTAIN VIEW                                     CA                                 94040          Condominium
           16166764                       0                       0.25                                            6.625          LINCOLN                                           CA                                 95648          PUD
           16166785                       0                       0.25                                             6.25          CHERRY HILLS                                      CO                                 80113          PUD
           16166739                       0                       0.25                                            6.125          PENSACOLA                                         FL                                 32507          Condominium
           16166620                       0                       0.25                                                6          VISTA                                             CA                                 92083          Single Family
           16166624                       0                       0.25                                            6.375          GOLETA                                            CA                                 93117          Single Family
           16166626                       0                       0.25                                            6.125          IRVINE                                            CA                                 92604          Condominium
           16166646                       0                       0.25                                            6.125          NEW YORK                                          NY                                 10010          CO-OP
           16166673                       0                       0.25                                            6.375          OCEAN CITY                                        NJ                                  8226          Condominium
           16166674                       0                       0.25                                             6.75          KINGSTON                                          MA                                  2364          Single Family
           16166675                       0                       0.25                                            7.125          IPSWICH                                           MA                                  1938          Single Family
           16166687                       0                       0.25                                            6.875          WILTON                                            CA                                 95693          PUD
           16166731                       0                       0.25                                             6.75          ISLE OF PALMS                                     SC                                 29451          Single Family
           16166594                       0                       0.25                                            6.125          WESTFIELD                                         NJ                                  7090          Single Family
           16166599                       0                       0.25                                             6.75          LAGUNA NIGUEL                                     CA                                 92677          PUD
           16166600                       0                       0.25                                              5.5          LAKEWOOD                                          CA                                 90712          Single Family
           16166573                       0                       0.25                                             6.25          MAMMOTH LAKE                                      CA                                 93546          Single Family
           16166581                       0                       0.25                                             5.75          NEW YORK                                          NY                                 10012          CO-OP
           16166453                       0                       0.25                                             6.25          WAKEFIELD                                         MA                                  1880          Single Family
           16166465                       0                       0.25                                            6.375          LA CRESCENTA                                      CA                                 91214          Single Family
           16166466                       0                       0.25                                              6.5          SAN JOSE                                          CA                                 95124          Single Family
           16166468                       0                       0.25                                            6.375          STEVENSON RANCH                                   CA                                 91381          PUD
           16166484                       0                       0.25                                             6.25          SOLANA BEACH                                      CA                                 92075          PUD
           16166485                       0                       0.25                                            6.125          HOPKINTON                                         MA                                  1748          Single Family
           16166487                       0                       0.25                                            5.625          LOS ANGELES                                       CA                                 91423          Single Family
           16166489                       0                       0.25                                             6.25          MALIBU                                            CA                                 90265          Single Family
           16166490                       0                       0.25                                            6.375          NORTHRIDGE                                        CA                                 91325          Single Family
           16166496                       0                       0.25                                            6.375          SHADOW HILLS                                      CA                                 91040          Single Family
           16166506                       0                       0.25                                            6.375          NORTH HOLLYWOOD                                   CA                                 91602          Single Family
           16166507                       0                       0.25                                            6.125          CHATHAM                                           NJ                                  7928          Single Family
           16166512                       0                       0.25                                                6          LOS ANGELES                                       CA                                 91306          Single Family
           16166517                       0                       0.25                                              6.5          SANTA MONICA                                      CA                                 90403          Condominium
           16166529                       0                       0.25                                             5.75          NORTHBROOK                                        IL                                 60062          Single Family
           16166537                       0                       0.25                                             6.25          SANTA BARBARA                                     CA                                 93105          Single Family
           16166558                       0                       0.25                                            6.125          RENO                                              NV                                 89511          PUD
           16166559                       0                       0.25                                            6.375          BAKERSFIELD                                       CA                                 93314          Single Family
           16166564                       0                       0.25                                                6          GLENDALE                                          CA                                 91207          Single Family
           16166420                       0                       0.25                                            6.125          LAS VEGAS                                         NV                                 89148          PUD
           16166427                       0                       0.25                                                6          DANVILLE                                          CA                                 94526          Single Family
           16166429                       0                       0.25                                              6.5          FORT MYERS                                        FL                                 33912          Condominium
           16166432                       0                       0.25                                            5.875          BELLEVUE                                          WA                                 98005          Single Family
           16166434                       0                       0.25                                            5.875          WOODINVILLE                                       WA                                 98072          Single Family
           16166446                       0                       0.25                                             6.25          LONG BEACH                                        CA                                 90803          Single Family
           16166448                       0                       0.25                                                6          SOLVANG                                           CA                                 93463          Single Family
           16166452                       0                       0.25                                              6.5          CARLSBAD                                          CA                                 92009          PUD
           16166324                       0                       0.25                                                6          SANTA ANA                                         CA                                 92704          Single Family
           16166330                       0                       0.25                                            5.875          DULUTH                                            GA                                 30097          PUD
           16166332                       0                       0.25                                                6          SAN DIEGO                                         CA                                 92129          Single Family
           16166333                       0                       0.25                                            5.875          OLD GREENWICH                                     CT                                  6870          Single Family
           16166342                       0                       0.25                                             6.25          SANTA CLARA                                       CA                                 95050          Single Family
           16166346                       0                       0.25                                              6.5          SAN DIEGO                                         CA                                 92117          Single Family
           16166348                       0                       0.25                                            5.875          WEST LINN                                         OR                                 97068          Single Family
           16166351                       0                       0.25                                            6.375          VENTURA                                           CA                                 93003          Single Family
           16166352                       0                       0.25                                            6.375          LIVINGSTON                                        NJ                                  7039          Single Family
           16166358                       0                       0.25                                            6.625          ARROYO GRANDE                                     CA                                 93420          Single Family
           16166360                       0                       0.25                                             5.75          TEMECULA                                          CA                                 92592          PUD
           16166368                       0                       0.25                                            6.125          LOS ANGELES                                       CA                                 90068          Condominium
           16166374                       0                       0.25                                            6.125          ELK GROVE                                         CA                                 95757          Single Family
           16166375                       0                       0.25                                            6.125          WOODLAND HILLS                                    CA                                 91364          Condominium
           16166381                       0                       0.25                                            6.125          MARTINEZ                                          CA                                 94553          Single Family
           16166383                       0                       0.25                                            6.375          SONOMA                                            CA                                 95476          Single Family
           16166391                       0                       0.25                                            6.375          FRESNO                                            CA                                 93711          Single Family
           16166393                       0                       0.25                                                7          LACEY                                             WA                                 98516          PUD
           16166399                       0                       0.25                                             6.25          SIMI VALLEY                                       CA                                 93063          Single Family
           16166271                       0                       0.25                                             6.25          GIG HARBOR                                        WA                                 98332          PUD
           16166272                       0                       0.25                                            6.625          LAS VEGAS                                         NV                                 89131          PUD
           16166274                       0                       0.25                                            5.875          CORONADO                                          CA                                 92118          Condominium
           16166278                       0                       0.25                                                6          ESCONDIDO                                         CA                                 92027          PUD
           16166281                       0                       0.25                                                6          NEW YORK                                          NY                                 10010          CO-OP
           16166288                       0                       0.25                                            6.375          MERIDIAN                                          ID                                 83642          PUD
           16166304                       0                       0.25                                             6.25          SCITUATE                                          MA                                  2066          Single Family
           16166305                       0                       0.25                                             6.25          OCEAN CITY                                        NJ                                  8226          Single Family
           16166306                       0                       0.25                                             6.25          FRISCO                                            TX                                 75034          PUD
           16166308                       0                       0.25                                            5.375          HENDERSON                                         NV                                 89015          Single Family
           16166311                       0                       0.25                                            5.875          KOHALA COAST                                      HI                                 96743          Condominium
           16166317                       0                       0.25                                             5.25          WESTON                                            FL                                 33326          PUD
           16166100                       0                       0.25                                             6.75          LA QUINTA                                         CA                                 92253          Condominium
           16166109                       0                       0.25                                            6.125          VIRGINIA BEACH                                    VA                                 23454          Single Family
           16166118                       0                       0.25                                            6.875          SAN FRANCISCO                                     CA                                 94107          Single Family
           16166123                       0                       0.25                                            6.125          LONG BEACH                                        CA                                 90814          Single Family
           16166126                       0                       0.25                                                6          ANTHEM                                            AZ                                 85086          Single Family
           16166129                       0                       0.25                                             6.75          KULA                                              HI                                 96790          Single Family
           16166137                       0                       0.25                                            6.625          BURLINGAME                                        CA                                 94010          Single Family
           16166141                       0                       0.25                                             6.25          SACRAMENTO                                        CA                                 95830          PUD
           16166157                       0                       0.25                                            6.125          CAMERON COURT                                     CA                                 95682          Single Family
           16166166                       0                       0.25                                            6.125          WOODBRIDGE                                        VA                                 22192          PUD
           16166177                       0                       0.25                                            6.875          POWAY                                             CA                                 92064          Single Family
           16166180                       0                       0.25                                             6.75          SEATTLE                                           WA                                 98103          Single Family
           16166182                       0                       0.25                                              6.5          FALLBROOK                                         CA                                 92028          Single Family
           16166185                       0                       0.25                                                6          SIMI VALLEY                                       CA                                 93063          Single Family
           16166187                       0                       0.25                                            6.875          TEMECULA                                          CA                                 92592          Single Family
           16166193                       0                       0.25                                            5.875          RENO                                              NV                                 89523          PUD
           16166198                       0                       0.25                                             6.75          PALATINE                                          IL                                 60067          Single Family
           16166199                       0                       0.25                                              6.5          CORONA AREA                                       CA                                 92880          Single Family
           16166221                       0                       0.25                                            6.625          SURPRISE                                          AZ                                 85379          PUD
           16166224                       0                       0.25                                              6.5          RIVERSIDE                                         CA                                 92508          PUD
           16166227                       0                       0.25                                            6.375          PACIFIC GROVE                                     CA                                 93950          PUD
           16166233                       0                       0.25                                             6.25          MONTEREY                                          CA                                 93940          PUD
           16166236                       0                       0.25                                                6          HERCULES                                          CA                                 94547          PUD
           16166251                       0                       0.25                                            6.625          LAS VEGAS                                         NV                                 89118          Single Family
           16166254                       0                       0.25                                            5.875          LAS VEGAS                                         NV                                 89135          PUD
           16166263                       0                       0.25                                            6.125          WESTFIELD                                         NJ                                  7090          Single Family
           16166266                       0                       0.25                                             6.25          GLENVIEW                                          IL                                 60025          Single Family
           16166078                       0                       0.25                                             6.25          LAS VEGAS                                         NV                                 89139          PUD
           16166082                       0                       0.25                                            6.375          RENO                                              NV                                 89509          PUD
           16166089                       0                       0.25                                             6.25          CORONA                                            CA                                 92883          PUD
           16177241                       0                       0.25                                            5.875          CUPERTINO                                         CA                                 95014          Single Family
           16177242                       0                       0.25                                             6.25          SAMMAMISH                                         WA                                 98075          PUD
           16177243                       0                       0.25                                                6          SANTA CLARA                                       CA                                 95054          Condominium
           16177244                       0                       0.25                                              5.5          PIEDMONT                                          CA                                 94611          Single Family
           16177245                       0                       0.25                                            5.625          MIAMI BEACH                                       FL                                 33140          Single Family
           16177220                       0                       0.25                                                6          CLAREMONT                                         CA                                 91711          PUD
           16177221                       0                       0.25                                            6.125          LAKE FOREST                                       CA                                 92630          PUD
           16177222                       0                       0.25                                            6.125          PATTERSON                                         CA                                 95363          Single Family
           16177223                       0                       0.25                                              6.5          ANTELOPE                                          CA                                 95843          Single Family
           16177224                       0                       0.25                                                6          LAS VEGAS                                         NV                                 89148          PUD
           16177225                       0                       0.25                                            6.875          ASHBURN                                           VA                                 20148          PUD
           16177226                       0                       0.25                                            6.125          HERRIMAN                                          UT                                 84065          PUD
           16177227                       0                       0.25                                              6.5          NOVATO                                            CA                                 94947          Single Family
           16177228                       0                       0.25                                                6          NORTH SALT LAKE                                   UT                                 84054          Single Family
           16177229                       0                       0.25                                             6.25          CYPRESS                                           CA                                 90630          Single Family
           16177230                       0                       0.25                                                6          SAN JOSE                                          CA                                 95136          Condominium
           16177231                       0                       0.25                                                6          CARMEL                                            IN                                 46032          PUD
           16177232                       0                       0.25                                              6.5          NIWOT                                             CO                                 80503          Single Family
           16177233                       0                       0.25                                            6.375          SAN FRANCISCO                                     CA                                 94110          Single Family
           16177234                       0                       0.25                                             6.25          FREMONT                                           CA                                 94536          Single Family
           16177235                       0                       0.25                                            5.875          SEATTLE                                           WA                                 98103          Single Family
           16177236                       0                       0.25                                            6.625          SAN ANTONIO                                       TX                                 78230          PUD
           16177237                       0                       0.25                                              6.5          HIGHLAND                                          UT                                 84003          Single Family
           16177238                       0                       0.25                                              6.5          PALO ALTO                                         CA                                 94306          Condominium
           16177239                       0                       0.25                                             6.75          BELVEDERE TIBURON                                 CA                                 94920          Condominium
           16177240                       0                       0.25                                              6.5          LAUREL                                            MD                                 20708          Single Family
           16177210                       0                       0.25                                                6          LOS GATOS                                         CA                                 95032          Single Family
           16177211                       0                       0.25                                             6.25          PARK CITY                                         UT                                 84060          PUD
           16177212                       0                       0.25                                             6.75          PARK CITY                                         UT                                 84098          PUD
           16177213                       0                       0.25                                             6.75          FREMONT                                           CA                                 94555          PUD
           16177214                       0                       0.25                                                6          WRIGHTSVILLE BEACH                                NC                                 28480          Condominium
           16177215                       0                       0.25                                            6.125          FRANKLIN                                          TN                                 37064          Single Family
           16177216                       0                       0.25                                            6.625          WALNUT CREEK                                      CA                                 94595          Condominium
           16177217                       0                       0.25                                                6          VILLA PARK                                        CA                                 92861          Single Family
           16177218                       0                       0.25                                            5.875          FREMONT                                           CA                                 94539          Single Family
           16177219                       0                       0.25                                                6          FULLERTON                                         CA                                 92835          PUD
           16177170                       0                       0.25                                            5.875          CHICAGO                                           IL                                 60613          PUD
           16177171                       0                       0.25                                             6.25          GARDNERVILLE                                      NV                                 89460          Single Family
           16177172                       0                       0.25                                            5.875          POWAY                                             CA                                 92064          Single Family
           16177173                       0                       0.25                                             6.25          KOLOA                                             HI                                 96756          Single Family
           16177174                       0                       0.25                                            6.875          BRIDGEHAMPTON                                     NY                                 11932          Single Family
           16177175                       0                       0.25                                            6.625          ORLANDO                                           FL                                 32835          PUD
           16177176                       0                       0.25                                              6.5          SIMI VALLEY                                       CA                                 93065          Single Family
           16177177                       0                       0.25                                            6.125          OAKLAND                                           FL                                 34787          PUD
           16177178                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90034          Single Family
           16177179                       0                       0.25                                             5.75          ANAHEIM                                           CA                                 92806          Single Family
           16177180                       0                       0.25                                            5.875          MIAMI                                             FL                                 33133          Condominium
           16177181                       0                       0.25                                            4.875          LOS BANOS                                         CA                                 93635          Single Family
           16177182                       0                       0.25                                            5.875          WALTHAM                                           MA                                  2451          Single Family
           16177183                       0                       0.25                                            5.875          ACTON                                             CA                                 93510          Single Family
           16177184                       0                       0.25                                                6          LOMPOC                                            CA                                 93436          PUD
           16177185                       0                       0.25                                                6          LOMPOC                                            CA                                 93436          PUD
           16177186                       0                       0.25                                            6.125          CHICAGO                                           IL                                 60647          Single Family
           16177187                       0                       0.25                                            6.375          MALIBU                                            CA                                 90265          Single Family
           16177188                       0                       0.25                                             5.75          OXNARD                                            CA                                 93030          Single Family
           16177189                       0                       0.25                                            6.875          HUNTINGTON BEACH                                  CA                                 92647          Single Family
           16177190                       0                       0.25                                             6.25          ARROYO GRANDE                                     CA                                 93420          PUD
           16177191                       0                       0.25                                              6.5          TRABUCO CANYON                                    CA                                 92679          PUD
           16177192                       0                       0.25                                            6.125          WHITTIER                                          CA                                 90603          Single Family
           16177193                       0                       0.25                                             5.25          FLORHAM PARK                                      NJ                                  7932          Single Family
           16177194                       0                       0.25                                              6.5          DESTIN                                            FL                                 32541          PUD
           16177195                       0                       0.25                                             6.75          PHILADELPHIA                                      PA                                 19146          Condominium
           16177196                       0                       0.25                                             6.75          LITCHFIELD PARK                                   AZ                                 85340          Single Family
           16177197                       0                       0.25                                             5.75          FAYETTEVILLE                                      GA                                 30215          PUD
           16177198                       0                       0.25                                            6.375          IRVINE                                            CA                                 92612          Condominium
           16177199                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 91606          Single Family
           16177165                       0                       0.25                                            5.875          MURRIETA                                          CA                                 92562          Single Family
           16177166                       0                       0.25                                            5.625          GLENDALE                                          CA                                 91205          Single Family
           16177167                       0                       0.25                                             7.25          EAST HAMPTON                                      NY                                 11937          Single Family
           16177168                       0                       0.25                                            6.125          REDONDO BEACH                                     CA                                 90277          Condominium
           16177169                       0                       0.25                                              6.5          PARK CITY                                         UT                                 84098          PUD
           16177113                       0                       0.25                                            5.875          LOS ANGELES                                       CA                                 90019          Condominium
           16177114                       0                       0.25                                              6.5          CORONA                                            CA                                 92883          PUD
           16177115                       0                       0.25                                            5.875          MALIBU                                            CA                                 90265          Single Family
           16177116                       0                       0.25                                             6.25          MUNDELEIN                                         IL                                 60060          PUD
           16177117                       0                       0.25                                            6.125          LA QUINTA                                         CA                                 92253          PUD
           16177118                       0                       0.25                                            5.625          SAN MARCOS                                        CA                                 92078          PUD
           16177119                       0                       0.25                                                6          OCEANSIDE                                         CA                                 92054          Condominium
           16177120                       0                       0.25                                            6.125          LA QUINTA                                         CA                                 92253          PUD
           16177121                       0                       0.25                                             6.25          LORTON                                            VA                                 22079          PUD
           16177122                       0                       0.25                                                7          CHANDLER                                          AZ                                 85249          PUD
           16177123                       0                       0.25                                              6.5          SAN JOSE                                          CA                                 95121          Single Family
           16177124                       0                       0.25                                            5.875          BRIGHTON                                          CO                                 80602          PUD
           16177125                       0                       0.25                                             7.25          CORNVILLE                                         AZ                                 86325          Single Family
           16177126                       0                       0.25                                            6.125          BRENTWOOD                                         CA                                 94513          Single Family
           16177127                       0                       0.25                                            6.375          FREDERICK                                         MD                                 21701          PUD
           16177128                       0                       0.25                                              6.5          SAN MARCOS                                        CA                                 92078          PUD
           16177129                       0                       0.25                                             6.25          PARKLAND                                          FL                                 33076          PUD
           16177130                       0                       0.25                                             5.25          MARBLEHEAD                                        MA                                  1945          Single Family
           16177131                       0                       0.25                                            5.625          SAN CLEMENTE                                      CA                                 92673          PUD
           16177132                       0                       0.25                                            5.875          HIGHLAND                                          CA                                 92346          Single Family
           16177133                       0                       0.25                                            6.125          LAS VEGAS                                         NV                                 89131          Single Family
           16177134                       0                       0.25                                                6          CHINO                                             CA                                 91710          Single Family
           16177135                       0                       0.25                                              6.5          PEORIA                                            AZ                                 85383          PUD
           16177136                       0                       0.25                                             6.25          LEESBURG                                          VA                                 20176          PUD
           16177137                       0                       0.25                                            6.625          PACIFIC GROVE                                     CA                                 93950          Single Family
           16177138                       0                       0.25                                            6.375          BEL AIR                                           MD                                 21015          PUD
           16177139                       0                       0.25                                              6.5          LAKEWOOD                                          CA                                 90713          Single Family
           16177140                       0                       0.25                                            6.375          HENDERSON                                         NV                                 89074          Single Family
           16177141                       0                       0.25                                            5.875          SIGNAL HILL                                       CA                                 90755          Single Family
           16177142                       0                       0.25                                            6.375          POWAY                                             CA                                 92064          Single Family
           16177143                       0                       0.25                                            5.375          ANTIOCH                                           CA                                 94531          Single Family
           16177144                       0                       0.25                                             5.75          TORRANCE                                          CA                                 90505          Single Family
           16177145                       0                       0.25                                            6.375          SAN JOSE                                          CA                                 95126          Single Family
           16177146                       0                       0.25                                             5.75          WOODLAND HILLS                                    CA                                 91364          Single Family
           16177147                       0                       0.25                                            6.625          MENIFEE                                           CA                                 92584          Single Family
           16177148                       0                       0.25                                                6          BURLINGTON                                        WI                                 53105          Single Family
           16177110                       0                       0.25                                            6.375          DESTIN                                            FL                                 32541          PUD
           16177111                       0                       0.25                                             6.25          FONTANA                                           CA                                 92336          Single Family
           16177112                       0                       0.25                                            5.875          DUBLIN                                            OH                                 43016          Single Family
           16177149                       0                       0.25                                             5.25          FULLERTON                                         CA                                 92833          Single Family
           16177150                       0                       0.25                                                6          PRINCEVILLE                                       HI                                 96722          Single Family
           16177152                       0                       0.25                                                6          BRANDYWINE                                        MD                                 20613          Single Family
           16177153                       0                       0.25                                            5.875          ESSEX                                             CT                                  6426          Single Family
           16177154                       0                       0.25                                              6.5          QUEEN CREEK                                       AZ                                 85242          PUD
           16177155                       0                       0.25                                             6.25          LADERA RANCH                                      CA                                 92694          PUD
           16177157                       0                       0.25                                            6.375          SANTA ANA                                         CA                                 92705          Single Family
           16177158                       0                       0.25                                             6.25          DANA POINT                                        CA                                 92629          Single Family
           16177159                       0                       0.25                                                6          LA GRANGE HIGHLANDS                               IL                                 60525          Single Family
           16177160                       0                       0.25                                                5          CHULA VISTA                                       CA                                 91915          Condominium
           16177161                       0                       0.25                                            5.875          TEMECULA                                          CA                                 92592          Single Family
           16177162                       0                       0.25                                            6.125          MASON                                             OH                                 45040          PUD
           16177163                       0                       0.25                                             5.75          CARLSBAD                                          CA                                 92008          Single Family
           16177164                       0                       0.25                                            6.125          TUCKASEGEE                                        NC                                 28783          Single Family
           16177100                       0                       0.25                                                7          LEESBURG                                          VA                                 20175          PUD
           16177101                       0                       0.25                                            5.875          ROSEVILLE                                         CA                                 95678          Single Family
           16177102                       0                       0.25                                            6.375          CAPTNA                                            FL                                 33924          Single Family
           16177103                       0                       0.25                                            5.125          PLACENTIA                                         CA                                 92870          Single Family
           16177104                       0                       0.25                                            5.875          EVERGREEN                                         CO                                 80439          Single Family
           16177105                       0                       0.25                                            5.875          LAS VEGAS                                         NV                                 89138          PUD
           16177106                       0                       0.25                                                6          SHERBORN                                          MA                                  1770          Single Family
           16177107                       0                       0.25                                                6          LA VERNE                                          CA                                 91750          Single Family
           16177108                       0                       0.25                                            6.375          LEESBURG                                          VA                                 20176          Single Family
           16177109                       0                       0.25                                                6          LAS VEGAS                                         NV                                 89148          PUD
           16177200                       0                       0.25                                             5.75          SOUTH SAN FRANCISCO                               CA                                 94080          Single Family
           16177201                       0                       0.25                                             6.75          LOS ANGELES                                       CA                                 90077          Single Family
           16177202                       0                       0.25                                             6.75          BURBANK                                           CA                                 91501          Condominium
           16177203                       0                       0.25                                                6          LA JOLLA                                          CA                                 92037          Condominium
           16177204                       0                       0.25                                                6          LA JOLLA                                          CA                                 92037          Condominium
           16177205                       0                       0.25                                             6.25          YOUNTVILLE                                        CA                                 94599          Single Family
           16177206                       0                       0.25                                                6          BERNARDS TWP                                      NJ                                  7920          Single Family
           16177207                       0                       0.25                                              6.5          DUBLIN                                            CA                                 94568          Single Family
           16177208                       0                       0.25                                             5.75          DANVILLE                                          CA                                 94506          PUD
           16177209                       0                       0.25                                            5.875          LOS ANGELES                                       CA                                 91325          Single Family
           16177090                       0                       0.25                                            5.875          BRISTOW                                           VA                                 20136          PUD
           16177091                       0                       0.25                                            5.125          HAYMARKET                                         VA                                 20169          PUD
           16177092                       0                       0.25                                            5.375          SAN JOSE                                          CA                                 95129          Condominium
           16177093                       0                       0.25                                            5.875          SAN JUAN CAPISTRANO                               CA                                 92675          PUD
           16177094                       0                       0.25                                            5.875          LOMPOC                                            CA                                 93436          PUD
           16177095                       0                       0.25                                             5.75          ATWATER                                           CA                                 95301          Single Family
           16177096                       0                       0.25                                                6          OXNARD                                            CA                                 93030          PUD
           16177097                       0                       0.25                                              6.5          TRUCKEE                                           CA                                 96160          Condominium
           16177098                       0                       0.25                                             6.25          MOUNTAIN HOUSE                                    CA                                 95391          Single Family
           16177099                       0                       0.25                                             6.25          HINSDALE                                          IL                                 60521          Single Family
           16218249                       0                       0.25                                             7.25          ST. GEORGE ISLAND                                 FL                                 32328          Single Family
           16218250                       0                       0.25                                              6.5          WATSONVILLE                                       CA                                 95076          Single Family
           16218251                       0                       0.25                                            6.125          BUENA PARK                                        CA                                 90620          Single Family
           16218252                       0                       0.25                                             6.25          GARDEN GROVE                                      CA                                 92843          Single Family
           16218244                       0                       0.25                                                5          ALAMEDA                                           CA                                 94501          Single Family
           16218245                       0                       0.25                                            5.875          FOUNTAIN VALLEY                                   CA                                 92708          Single Family
           16218246                       0                       0.25                                            5.875          LOS BANOS                                         CA                                 93635          Single Family
           16218247                       0                       0.25                                              6.5          GLENDALE                                          CA                                 91208          Single Family
           16218248                       0                       0.25                                            6.375          CAMARILLO                                         CA                                 93010          PUD
           16218236                       0                       0.25                                            6.875          SAN MATEO                                         CA                                 94401          Single Family
           16218237                       0                       0.25                                            6.375          HENDERSON                                         NV                                 89015          PUD
           16218238                       0                       0.25                                             6.25          WALNUT CREEK                                      CA                                 94598          Single Family
           16218239                       0                       0.25                                             5.75          SAN BRUNO                                         CA                                 94066          Single Family
           16218240                       0                       0.25                                                6          PLEASANTON                                        CA                                 94588          Single Family
           16218241                       0                       0.25                                             6.75          SAINT SIMONS ISLAND                               GA                                 31522          Single Family
           16218242                       0                       0.25                                             6.25          OXNARD                                            CA                                 93036          PUD
           16218243                       0                       0.25                                                7          GOLD CANYON                                       AZ                                 85218          PUD
           16218230                       0                       0.25                                            6.625          TREASURE ISLAND                                   FL                                 33706          Single Family
           16218231                       0                       0.25                                            5.875          BOULDER                                           CO                                 80303          Single Family
           16218232                       0                       0.25                                            5.875          SCOTTSDALE                                        AZ                                 85262          PUD
           16218233                       0                       0.25                                            5.625          IRVINE                                            CA                                 92603          PUD
           16218234                       0                       0.25                                             6.25          NORTH LAS VEGAS                                   NV                                 89084          PUD
           16218235                       0                       0.25                                             6.75          SALT LAKE CITY                                    UT                                 84106          Condominium
           16218227                       0                       0.25                                             6.25          KOLOA                                             HI                                 96756          Condominium
           16218228                       0                       0.25                                              6.5          MEDFORD                                           OR                                 97504          Single Family
           16218229                       0                       0.25                                              6.5          ROSEVILLE                                         CA                                 95747          Single Family
           16218226                       0                       0.25                                             6.25          SAN DIEGO                                         CA                                 92154          Single Family
           16218150                       0                       0.25                                            5.875          WESTPORT                                          CT                                  6880          Single Family
           16218151                       0                       0.25                                            5.625          AUSTIN                                            TX                                 78730          Single Family
           16218152                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90045          Single Family
           16218153                       0                       0.25                                                7          LYNNWOOD                                          WA                                 98037          Single Family
           16218154                       0                       0.25                                            6.375          IRVINE                                            CA                                 92604          PUD
           16218155                       0                       0.25                                            6.375          MISSION VIEJO                                     CA                                 92692          PUD
           16218156                       0                       0.25                                            6.375          WINNETKA                                          CA                                 91306          Single Family
           16218157                       0                       0.25                                              5.5          WALNUT CREEK                                      CA                                 94596          Single Family
           16218158                       0                       0.25                                            6.375          ELLICOTT CITY                                     MD                                 21043          Single Family
           16218159                       0                       0.25                                              6.5          ROCKLIN                                           CA                                 95765          Single Family
           16218160                       0                       0.25                                            5.875          SMYRNA                                            GA                                 30080          PUD
           16218161                       0                       0.25                                             6.75          SARASOTA                                          FL                                 34233          Condominium
           16218162                       0                       0.25                                            6.125          TEMPLETON                                         CA                                 93465          PUD
           16218163                       0                       0.25                                            6.625          JACKSON                                           WY                                 83001          Single Family
           16218164                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90012          Condominium
           16218165                       0                       0.25                                             6.25          ALPHARETTA                                        GA                                 30022          PUD
           16218166                       0                       0.25                                             6.25          HAINESPORT                                        NJ                                  8036          Single Family
           16218167                       0                       0.25                                            5.875          HUNTINGTON BEACH                                  CA                                 92648          PUD
           16218168                       0                       0.25                                            7.375          SIMI VALLEY                                       CA                                 93065          Single Family
           16218169                       0                       0.25                                                6          LOS ANGELES                                       CA                                 90043          Single Family
           16218126                       0                       0.25                                             6.25          BROOKLYN                                          NY                                 11204          Single Family
           16218170                       0                       0.25                                            6.375          COSTA MESA                                        CA                                 92627          Single Family
           16218171                       0                       0.25                                             6.75          STONE HARBOR                                      NJ                                  8247          Condominium
           16218172                       0                       0.25                                                6          ARLINGTON                                         VA                                 22201          Single Family
           16218173                       0                       0.25                                            6.125          ELK GROVE                                         CA                                 95624          Single Family
           16218174                       0                       0.25                                                6          THOUSAND OAKS                                     CA                                 91362          PUD
           16218175                       0                       0.25                                            5.875          PASADENA                                          CA                                 91104          Single Family
           16218176                       0                       0.25                                             6.25          EDGEWATER                                         MD                                 21037          Single Family
           16218177                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90005          Condominium
           16218178                       0                       0.25                                              6.5          NAPLES                                            FL                                 34109          Condominium
           16218179                       0                       0.25                                                6          FREDERICK                                         MD                                 21702          Single Family
           16218180                       0                       0.25                                            5.625          LOS ANGELES                                       CA                                 90065          Single Family
           16218127                       0                       0.25                                              6.5          SAN JOSE                                          CA                                 95126          Single Family
           16218128                       0                       0.25                                             6.75          SAN RAMON                                         CA                                 94582          PUD
           16218129                       0                       0.25                                                7          WALNUT CREEK                                      CA                                 94595          Condominium
           16218181                       0                       0.25                                                6          PARK RIDGE                                        IL                                 60068          Single Family
           16218182                       0                       0.25                                            5.875          SANTA MONICA                                      CA                                 90403          Condominium
           16218183                       0                       0.25                                            6.375          RANCHO SANTA MARGARITA                            CA                                 92688          Condominium
           16218184                       0                       0.25                                                6          FORT MYERS BEACH                                  FL                                 33931          Condominium
           16218185                       0                       0.25                                             6.25          CLIFTON                                           VA                                 20124          PUD
           16218130                       0                       0.25                                                7          RANCHO CORDOVA                                    CA                                 95670          Condominium
           16218131                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95138          Single Family
           16218132                       0                       0.25                                            5.875          HAYWARD                                           CA                                 94541          Single Family
           16218186                       0                       0.25                                            6.125          SWANTON                                           MD                                 21561          Single Family
           16218187                       0                       0.25                                            6.125          IRVINE                                            CA                                 92612          Condominium
           16218188                       0                       0.25                                             6.25          BOISE                                             ID                                 83709          Single Family
           16218189                       0                       0.25                                             6.25          SONOMA                                            CA                                 95476          Single Family
           16218190                       0                       0.25                                            6.125          RIVERSIDE                                         CA                                 92508          PUD
           16218191                       0                       0.25                                            5.375          ORLANDO                                           FL                                 32822          Condominium
           16218192                       0                       0.25                                            6.125          SAN DIEGO                                         CA                                 92130          PUD
           16218193                       0                       0.25                                            5.875          PRESCOTT                                          AZ                                 86305          Single Family
           16218194                       0                       0.25                                             6.25          SANTA ROSA                                        CA                                 95404          Single Family
           16218195                       0                       0.25                                              6.5          CLOVIS                                            CA                                 93612          Single Family
           16218196                       0                       0.25                                                6          SAN JOSE                                          CA                                 95136          Condominium
           16218197                       0                       0.25                                             6.75          SAN JOSE                                          CA                                 95116          Condominium
           16218198                       0                       0.25                                            6.875          PUKALANI                                          HI                                 96768          Single Family
           16218199                       0                       0.25                                             5.25          CAPITOL HEIGHTS                                   MD                                 20743          Single Family
           16218133                       0                       0.25                                                6          SAN DIEGO                                         CA                                 92127          Condominium
           16218134                       0                       0.25                                            6.375          REDDING                                           CA                                 96002          Single Family
           16218135                       0                       0.25                                            6.375          WESTMINSTER                                       CA                                 92683          Single Family
           16218136                       0                       0.25                                            6.375          TRABUCO CANYON                                    CA                                 92679          PUD
           16218137                       0                       0.25                                            6.375          LA QUINTA                                         CA                                 92253          PUD
           16218138                       0                       0.25                                            5.875          SANTA MARIA                                       CA                                 93455          PUD
           16218139                       0                       0.25                                             6.25          MANHATTAN BEACH                                   CA                                 90266          Single Family
           16218140                       0                       0.25                                             5.75          SAN MARCOS                                        CA                                 92078          PUD
           16218141                       0                       0.25                                            5.625          BRENTWOOD                                         TN                                 37027          PUD
           16218142                       0                       0.25                                            6.625          PALMDALE                                          CA                                 93551          PUD
           16218143                       0                       0.25                                            6.125          HENDERSON                                         NV                                 89052          PUD
           16218144                       0                       0.25                                            7.375          ESCONDIDO                                         CA                                 92025          Single Family
           16218145                       0                       0.25                                            5.875          FRANKLIN                                          TN                                 37064          PUD
           16218146                       0                       0.25                                             5.75          SAN RAFAEL                                        CA                                 94903          Single Family
           16218147                       0                       0.25                                             6.25          ANACORTES                                         WA                                 98221          Single Family
           16218148                       0                       0.25                                            6.375          SANTA CLARITA                                     CA                                 91387          Single Family
           16218149                       0                       0.25                                             6.75          ONTARIO                                           CA                                 91762          Condominium
           16218100                       0                       0.25                                            6.125          FALLSTON                                          MD                                 21047          PUD
           16218101                       0                       0.25                                              5.5          MOUNTAIN HOUSE                                    CA                                 95391          Single Family
           16218102                       0                       0.25                                             6.25          CHANTILLY                                         VA                                 20152          PUD
           16218103                       0                       0.25                                            6.375          FRANKTOWN                                         CO                                 80116          Single Family
           16218104                       0                       0.25                                             6.75          CHATSWORTH AREA                                   CA                                 91311          Single Family
           16218105                       0                       0.25                                              6.5          WOODBRIDGE                                        VA                                 22191          PUD
           16218106                       0                       0.25                                            6.375          SANTA BARBARA                                     CA                                 93105          Condominium
           16218113                       0                       0.25                                                6          EAGAN                                             MN                                 55123          Single Family
           16218114                       0                       0.25                                            6.625          IRVINE                                            CA                                 92602          Condominium
           16218115                       0                       0.25                                              6.5          BROAD RUN                                         VA                                 20137          Single Family
           16218116                       0                       0.25                                                6          LOVETTSVILLE                                      VA                                 20180          PUD
           16218117                       0                       0.25                                              6.5          BIRMINGHAM                                        AL                                 35213          Single Family
           16218118                       0                       0.25                                            6.125          EL DORADO HILLS                                   CA                                 95762          PUD
           16218119                       0                       0.25                                            5.875          NOVI                                              MI                                 48374          Single Family
           16218107                       0                       0.25                                            7.125          LA PALMA                                          CA                                 90623          Single Family
           16218108                       0                       0.25                                             6.25          AURORA                                            CO                                 80014          PUD
           16218109                       0                       0.25                                                6          AURORA                                            CO                                 80014          PUD
           16218120                       0                       0.25                                            6.875          ELLICOTT CITY                                     MD                                 21043          Single Family
           16218121                       0                       0.25                                            6.875          MANASSAS                                          VA                                 20112          PUD
           16218122                       0                       0.25                                            7.625          PLAINVIEW                                         NY                                 11803          Condominium
           16218123                       0                       0.25                                            6.375          SANTA CLARITA AREA                                CA                                 91354          Condominium
           16218124                       0                       0.25                                             5.75          OJAI                                              CA                                 93023          Single Family
           16218125                       0                       0.25                                             6.75          SNOHOMISH                                         WA                                 98290          Single Family
           16218110                       0                       0.25                                             7.75          LORTON                                            VA                                 22079          PUD
           16218111                       0                       0.25                                                6          PETALUMA                                          CA                                 94954          Single Family
           16218112                       0                       0.25                                            6.375          SCOTTSDALE                                        AZ                                 85262          PUD
           16218083                       0                       0.25                                            6.375          PLAYA VISTA                                       CA                                 90094          Condominium
           16218084                       0                       0.25                                             5.75          SAN DIEGO                                         CA                                 92127          PUD
           16218085                       0                       0.25                                             5.75          SNOHOMISH                                         WA                                 98296          PUD
           16218086                       0                       0.25                                              6.5          GREEN BAY                                         WI                                 54313          Single Family
           16218087                       0                       0.25                                             6.25          COACHELLA                                         CA                                 92236          Single Family
           16218088                       0                       0.25                                                6          BOSTON                                            MA                                  2114          Single Family
           16218089                       0                       0.25                                             6.25          MAPLE GROVE                                       MN                                 55369          Single Family
           16218090                       0                       0.25                                            5.875          HACIENDA HEIGHTS                                  CA                                 91745          Single Family
           16218091                       0                       0.25                                            5.875          ALAMEDA                                           CA                                 94501          Single Family
           16218092                       0                       0.25                                            6.875          LAS VEGAS                                         NV                                 89130          PUD
           16218093                       0                       0.25                                            6.125          PLANO                                             TX                                 75093          PUD
           16218094                       0                       0.25                                            5.625          LEESBURG                                          VA                                 20175          PUD
           16218095                       0                       0.25                                            6.125          LOS ANGELES                                       CA                                 91325          Single Family
           16218096                       0                       0.25                                            6.125          BRAMBLETON                                        VA                                 20148          PUD
           16218097                       0                       0.25                                            6.125          DULUTH                                            GA                                 30097          PUD
           16218098                       0                       0.25                                             6.25          OZARK                                             MO                                 65721          PUD
           16218099                       0                       0.25                                             7.75          GREENWOOD                                         AR                                 72936          Single Family
           16218300                       0                       0.25                                                6          LITTLEROCK                                        CA                                 93543          Single Family
           16218301                       0                       0.25                                            5.875          LA MIRADA                                         CA                                 90638          Single Family
           16218302                       0                       0.25                                            5.625          BURBANK                                           CA                                 91501          Condominium
           16218303                       0                       0.25                                             6.25          LAKE MARY                                         FL                                 32746          PUD
           16218304                       0                       0.25                                             6.25          BREA                                              CA                                 92823          PUD
           16218305                       0                       0.25                                             6.25          CYPRESS                                           CA                                 90630          Single Family
           16218306                       0                       0.25                                            7.125          FULLERTON                                         CA                                 92833          PUD
           16218307                       0                       0.25                                            6.375          LAS VEGAS                                         NV                                 89141          PUD
           16218308                       0                       0.25                                            6.375          SAN JOSE                                          CA                                 95136          Single Family
           16218309                       0                       0.25                                            6.375          DRAPER                                            UT                                 84020          Single Family
           16218310                       0                       0.25                                              6.5          SAN DIEGO                                         CA                                 92126          Single Family
           16218311                       0                       0.25                                            6.875          MARTINEZ                                          CA                                 94553          Single Family
           16218312                       0                       0.25                                              6.5          SAN DIEGO                                         CA                                 92154          Single Family
           16218313                       0                       0.25                                            7.125          SACRAMENTO                                        CA                                 95834          PUD
           16218314                       0                       0.25                                                6          LAUREL                                            MD                                 20707          PUD
           16218315                       0                       0.25                                                6          LONG BEACH                                        CA                                 90808          Single Family
           16218316                       0                       0.25                                            6.875          SEATTLE                                           WA                                 98178          Single Family
           16218317                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90068          Single Family
           16218318                       0                       0.25                                             6.75          GLENDALE                                          CA                                 91207          Single Family
           16218319                       0                       0.25                                             6.25          BLOOMINGTON                                       IL                                 61704          PUD
           16218320                       0                       0.25                                              6.5          SAN JOSE                                          CA                                 95127          Single Family
           16218321                       0                       0.25                                            5.875          IRVINE                                            CA                                 92602          PUD
           16218322                       0                       0.25                                            6.625          HUNTINGTON BEACH                                  CA                                 92646          Single Family
           16218323                       0                       0.25                                            5.625          SAN JOSE                                          CA                                 95148          Single Family
           16218324                       0                       0.25                                            6.125          PALMDALE                                          CA                                 93551          PUD
           16218325                       0                       0.25                                              6.5          MORGAN HILL                                       CA                                 95037          Single Family
           16218326                       0                       0.25                                             5.75          ISLE OF PALMS                                     SC                                 29451          PUD
           16218327                       0                       0.25                                              6.5          SUNLAND/LOS ANGELES                               CA                                 91040          Single Family
           16218328                       0                       0.25                                            6.875          GLENDALE                                          CA                                 91206          Single Family
           16218329                       0                       0.25                                            6.375          SANTA CLARITA                                     CA                                 91390          Single Family
           16218330                       0                       0.25                                              6.5          BOYTON BEACH                                      FL                                 33437          PUD
           16218331                       0                       0.25                                            6.375          LAS VEGAS                                         NV                                 89178          PUD
           16218332                       0                       0.25                                            6.125          TUSTIN                                            CA                                 92782          PUD
           16218220                       0                       0.25                                            6.625          ORANGE                                            CA                                 92629          Single Family
           16218221                       0                       0.25                                              6.5          LAGUNA NIGUEL                                     CA                                 92677          Condominium
           16218222                       0                       0.25                                             6.25          VISTA                                             CA                                 92084          PUD
           16218223                       0                       0.25                                             6.25          RENO                                              NV                                 89509          Single Family
           16218224                       0                       0.25                                                6          ISSAQUAH                                          WA                                 98029          Single Family
           16218225                       0                       0.25                                            5.875          DUARTE                                            CA                                 91010          Single Family
           16218200                       0                       0.25                                                6          NEWPORT BEACH                                     CA                                 92663          Condominium
           16218201                       0                       0.25                                            5.875          HERMOSA BEACH                                     CA                                 90254          Single Family
           16218202                       0                       0.25                                             6.25          SAN DIEGO                                         CA                                 92109          Single Family
           16218203                       0                       0.25                                            6.375          ROANOKE                                           VA                                 24014          Single Family
           16218204                       0                       0.25                                             6.25          IRVINE                                            CA                                 92620          Single Family
           16218205                       0                       0.25                                             6.25          ALPINE                                            CA                                 91901          Single Family
           16218206                       0                       0.25                                            5.875          LAS VEGAS                                         NV                                 89129          Single Family
           16218207                       0                       0.25                                             6.25          DRAPER                                            UT                                 84020          Single Family
           16218208                       0                       0.25                                            5.875          FULLERTON                                         CA                                 92835          Single Family
           16218209                       0                       0.25                                             6.25          MARINA DEL REY                                    CA                                 90292          Condominium
           16218210                       0                       0.25                                             6.25          COTO DE CAZA                                      CA                                 92679          PUD
           16218211                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90064          Single Family
           16218212                       0                       0.25                                             6.25          HUNTINGTON BEACH                                  CA                                 92648          Single Family
           16218213                       0                       0.25                                            6.375          FAIRFAX                                           VA                                 22033          PUD
           16218214                       0                       0.25                                             6.25          PALMDALE                                          CA                                 93550          Single Family
           16218215                       0                       0.25                                             6.25          SANTA MONICA                                      CA                                 90405          Condominium
           16218216                       0                       0.25                                                6          HUNTINGTON BEACH                                  CA                                 92649          PUD
           16218217                       0                       0.25                                            6.875          LADERA RANCH                                      CA                                 92694          Condominium
           16218218                       0                       0.25                                            5.875          CLARKSBURG                                        MD                                 20871          PUD
           16218256                       0                       0.25                                              6.5          VALLEJO                                           CA                                 94591          Single Family
           16218257                       0                       0.25                                              6.5          ANAHEIM                                           CA                                 92807          Single Family
           16218258                       0                       0.25                                            5.625          TUSTIN                                            CA                                 92782          Condominium
           16218259                       0                       0.25                                            5.125          DUBLIN                                            CA                                 94568          PUD
           16218260                       0                       0.25                                            5.875          REDMOND                                           WA                                 98053          PUD
           16218261                       0                       0.25                                            6.375          LADERA RANCH                                      CA                                 92694          Condominium
           16218262                       0                       0.25                                            5.875          MILPITAS                                          CA                                 95035          Single Family
           16218263                       0                       0.25                                             6.75          ROCKWALL                                          TX                                 75032          PUD
           16218264                       0                       0.25                                             5.75          ORANGE                                            CA                                 92867          Single Family
           16218265                       0                       0.25                                            6.375          CARLSBAD                                          CA                                 92010          Single Family
           16218266                       0                       0.25                                              6.5          RANCHO PALOS VERDES                               CA                                 90275          Single Family
           16218267                       0                       0.25                                            5.875          IRVINE                                            CA                                 92603          Condominium
           16218268                       0                       0.25                                            5.625          WASHINGTON                                        DC                                 20009          2-4 Family
           16218269                       0                       0.25                                              5.5          LA CRESCENTA                                      CA                                 91214          Single Family
           16218253                       0                       0.25                                              6.5          NORTH VENICE                                      FL                                 34275          Condominium
           16218270                       0                       0.25                                             6.25          CYPRESS                                           CA                                 90630          Single Family
           16218271                       0                       0.25                                             6.75          WHITTIER                                          CA                                 90604          Single Family
           16218272                       0                       0.25                                                6          SAN RAMON                                         CA                                 94583          Single Family
           16218273                       0                       0.25                                            6.125          AURORA                                            CO                                 80016          PUD
           16218274                       0                       0.25                                            6.125          SANTA CLARITA                                     CA                                 91354          PUD
           16218275                       0                       0.25                                            5.875          SAN DIEGO                                         CA                                 92115          Single Family
           16218276                       0                       0.25                                            7.375          REDONDO BEACH                                     CA                                 90277          Single Family
           16218277                       0                       0.25                                            6.875          LOS ANGELES                                       CA                                 90048          Single Family
           16218278                       0                       0.25                                            6.375          WEST PALM BEACH                                   FL                                 33411          PUD
           16218279                       0                       0.25                                            5.875          ROCKVILLE                                         MD                                 20850          PUD
           16218280                       0                       0.25                                             6.25          SHREWSBURY                                        MA                                  1545          Single Family
           16218281                       0                       0.25                                                6          LOS ANGELES                                       CA                                 90025          Condominium
           16218282                       0                       0.25                                            5.875          MENLO PARK                                        CA                                 94025          Single Family
           16218283                       0                       0.25                                            6.125          INDIANAPOLIS                                      IN                                 46204          Condominium
           16218284                       0                       0.25                                            6.625          AUGUSTA                                           MI                                 49012          Single Family
           16218285                       0                       0.25                                            5.625          OSSINING                                          NY                                 10562          Single Family
           16218286                       0                       0.25                                            6.375          DUVALL                                            WA                                 98019          PUD
           16218287                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90039          Single Family
           16218288                       0                       0.25                                             6.25          CHESAPEAKE                                        VA                                 23323          PUD
           16218289                       0                       0.25                                            5.875          WOODLAND HILLS                                    CA                                 91364          Single Family
           16218290                       0                       0.25                                              6.5          CHANDLER                                          AZ                                 85249          PUD
           16218291                       0                       0.25                                            6.625          DALY CITY                                         CA                                 94014          Single Family
           16218292                       0                       0.25                                                6          LAS VEGAS                                         NV                                 89178          PUD
           16218293                       0                       0.25                                             6.75          SAN PEDRO                                         CA                                 90731          Single Family
           16218294                       0                       0.25                                            6.875          WELLINGTON                                        FL                                 33414          PUD
           16218295                       0                       0.25                                            6.125          LAKE WYLIE                                        SC                                 29710          Single Family
           16218296                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 91307          Single Family
           16218297                       0                       0.25                                             6.25          SAN FRANCISCO                                     CA                                 94103          Condominium
           16218298                       0                       0.25                                             6.75          MARINA                                            CA                                 93933          Single Family
           16218299                       0                       0.25                                             6.25          ORANGE                                            CA                                 92867          Single Family
           16218254                       0                       0.25                                                6          REDONDO BEACH                                     CA                                 90278          Condominium
           16218255                       0                       0.25                                            5.875          HENDERSON                                         NV                                 89015          PUD
           16199805                       0                       0.25                                              5.5          MONTGOMERY TOWNSHIP                               NJ                                  8502          Single Family
           16199806                       0                       0.25                                            6.375          TEMPLETON                                         CA                                 93465          Single Family
           16199807                       0                       0.25                                            6.125          POWAY                                             CA                                 92064          PUD
           16199808                       0                       0.25                                                7          SEBASTOPOL                                        CA                                 95472          Single Family
           16199809                       0                       0.25                                              6.5          LA QUINTA                                         CA                                 92253          Condominium
           16199810                       0                       0.25                                              6.5          SAN CLEMENTE                                      CA                                 92672          Condominium
           16199811                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90048          Condominium
           16199812                       0                       0.25                                            6.375          PALM SPRINGS                                      CA                                 92264          Single Family
           16199813                       0                       0.25                                            5.875          SAN JOSE                                          CA                                 95132          Single Family
           16199814                       0                       0.25                                             6.25          LA QUINTA                                         CA                                 92253          PUD
           16199815                       0                       0.25                                              6.5          NAPA                                              CA                                 94558          Single Family
           16199816                       0                       0.25                                             6.25          FAIR OAKS                                         CA                                 95628          Single Family
           16199817                       0                       0.25                                              6.5          SAN DIEGO                                         CA                                 92115          Single Family
           16199818                       0                       0.25                                              6.5          PIGEON FORGE                                      TN                                 37863          Single Family
           16199819                       0                       0.25                                            6.375          DANA POINT                                        CA                                 92624          Single Family
           16199820                       0                       0.25                                            6.625          FOLSOM                                            CA                                 95762          Single Family
           16199821                       0                       0.25                                            6.375          SAN CLEMENTE                                      CA                                 92673          PUD
           16199822                       0                       0.25                                            5.875          OCEANSIDE                                         CA                                 92054          Condominium
           16199823                       0                       0.25                                              6.5          OXNARD                                            CA                                 93036          PUD
           16199824                       0                       0.25                                              6.5          LITHIA                                            FL                                 33547          PUD
           16199825                       0                       0.25                                             6.25          TUSTIN                                            CA                                 92780          Single Family
           16199826                       0                       0.25                                            6.375          WINDSOR                                           CA                                 95492          PUD
           16199827                       0                       0.25                                             6.25          WESTMINSTER                                       CO                                 80234          Single Family
           16199829                       0                       0.25                                            6.125          SAN JOSE                                          CA                                 95136          PUD
           16199830                       0                       0.25                                            6.625          MIAMI                                             FL                                 33176          Single Family
           16199831                       0                       0.25                                            5.875          OCEAN CITY                                        NJ                                  8226          Condominium
           16199832                       0                       0.25                                            6.125          LA QUINTA                                         CA                                 92253          PUD
           16199833                       0                       0.25                                            6.375          FAIR OAKS                                         CA                                 95628          Single Family
           16199834                       0                       0.25                                            6.375          NORTHRIDGE                                        CA                                 91326          Single Family
           16199835                       0                       0.25                                            5.875          PHOENIX                                           AZ                                 85018          Single Family
           16199836                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95117          Single Family
           16199837                       0                       0.25                                            6.375          PLAYA VISTA                                       CA                                 90094          Condominium
           16199838                       0                       0.25                                                6          IRVINE                                            CA                                 92602          PUD
           16199839                       0                       0.25                                            6.875          LA CRESCENTA                                      CA                                 91214          Single Family
           16199840                       0                       0.25                                             6.25          SAN DIEGO                                         CA                                 92117          Single Family
           16199841                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90036          2-4 Family
           16199842                       0                       0.25                                            6.375          BERKELEY                                          CA                                 94705          Single Family
           16199843                       0                       0.25                                            6.625          RIVERSIDE                                         CA                                 92506          Single Family
           16199844                       0                       0.25                                             6.25          PEMBROKE PINES                                    FL                                 33028          PUD
           16199845                       0                       0.25                                              6.5          SANTA BARBARA                                     CA                                 93101          Single Family
           16199846                       0                       0.25                                             6.25          PLEASANTON                                        CA                                 94566          PUD
           16199847                       0                       0.25                                            6.375          WESTLAKE VILLAGE                                  CA                                 91361          PUD
           16199848                       0                       0.25                                            6.375          FALLBROOK                                         CA                                 92028          PUD
           16199849                       0                       0.25                                              6.5          WASHINGTON TOWNSHIP                               NJ                                  8691          Single Family
           16199850                       0                       0.25                                              6.5          PLEASANT HILL                                     CA                                 94523          Single Family
           16199851                       0                       0.25                                            6.375          SANTA BARBARA                                     CA                                 93103          Condominium
           16199852                       0                       0.25                                            6.125          TRACY                                             CA                                 95304          Single Family
           16199853                       0                       0.25                                            6.125          EVERGREEN                                         CO                                 80439          Single Family
           16199854                       0                       0.25                                            5.875          ALEXANDRIA                                        VA                                 22308          Single Family
           16199855                       0                       0.25                                                6          MINNETRISTA                                       MN                                 55364          Single Family
           16199795                       0                       0.25                                            6.375          COTO DE CAZA                                      CA                                 92679          Condominium
           16199796                       0                       0.25                                            6.125          SAN FRANCISCO                                     CA                                 94107          Condominium
           16199797                       0                       0.25                                             6.25          MILL VALLEY                                       CA                                 94941          Single Family
           16199798                       0                       0.25                                            6.375          ALEXANDRIA                                        VA                                 22302          Single Family
           16199799                       0                       0.25                                             6.25          EAGLE-VAIL                                        CO                                 81620          PUD
           16199705                       0                       0.25                                            6.375          AURORA                                            CO                                 80016          PUD
           16199706                       0                       0.25                                            5.875          LOS ANGELES                                       CA                                 91352          Single Family
           16199707                       0                       0.25                                            6.625          SAN BUENAVENTURA                                  CA                                 93004          Single Family
           16199708                       0                       0.25                                            6.625          SAN CLEMENTE                                      CA                                 92673          PUD
           16199709                       0                       0.25                                             6.25          TRACY                                             CA                                 95304          Single Family
           16199710                       0                       0.25                                            6.375          LONG BEACH                                        CA                                 90808          Condominium
           16199711                       0                       0.25                                            6.125          LOS ANGELES                                       CA                                 90066          Single Family
           16199712                       0                       0.25                                            6.375          SAN JOSE                                          CA                                 95131          Single Family
           16199713                       0                       0.25                                            6.375          VALLEY CENTER                                     CA                                 92082          PUD
           16199714                       0                       0.25                                                6          ROBBINSVILLE                                      NJ                                  8691          Single Family
           16199715                       0                       0.25                                              6.5          HAIKU                                             HI                                 96708          Single Family
           16199716                       0                       0.25                                              6.5          LA MESA                                           CA                                 91941          Single Family
           16199717                       0                       0.25                                            6.125          BRONX                                             NY                                 10463          CO-OP
           16199718                       0                       0.25                                            6.625          SAN DIEGO                                         CA                                 92122          Single Family
           16199719                       0                       0.25                                            6.625          CROWLEY LAKE                                      CA                                 93546          Single Family
           16199700                       0                       0.25                                              6.5          PETALUMA                                          CA                                 94954          Single Family
           16199701                       0                       0.25                                            6.625          LA MESA                                           CA                                 91942          Single Family
           16199702                       0                       0.25                                             6.25          RANCHO CUCAMONGA                                  CA                                 91737          Single Family
           16199703                       0                       0.25                                            6.375          MARTINEZ                                          CA                                 94553          Single Family
           16199704                       0                       0.25                                            6.375          TIBURON                                           CA                                 94920          Single Family
           16199787                       0                       0.25                                            5.875          SAN JOSE                                          CA                                 95101          Single Family
           16199788                       0                       0.25                                            6.375          PALM DESERT                                       CA                                 92260          Condominium
           16199789                       0                       0.25                                            6.625          RANCHO CUCAMONGA                                  CA                                 91737          Single Family
           16199790                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95129          PUD
           16199791                       0                       0.25                                              6.5          CAMPBELL                                          CA                                 95008          Single Family
           16199792                       0                       0.25                                            6.125          MIAMI                                             FL                                 33156          Single Family
           16199793                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90045          Single Family
           16199794                       0                       0.25                                             6.25          CARY                                              NC                                 27519          PUD
           16199690                       0                       0.25                                            6.625          MOORPARK                                          CA                                 93021          PUD
           16199691                       0                       0.25                                             6.25          VALLEJO                                           CA                                 94591          Single Family
           16199692                       0                       0.25                                            6.375          HERMOSA BEACH                                     CA                                 90254          Condominium
           16199693                       0                       0.25                                             6.75          BURBANK                                           CA                                 91505          Single Family
           16199694                       0                       0.25                                            6.375          WARREN                                            NJ                                  7059          Single Family
           16199695                       0                       0.25                                             6.25          COTO DE CAZA                                      CA                                 92679          PUD
           16199696                       0                       0.25                                              5.5          CLOVIS                                            CA                                 93611          Single Family
           16199697                       0                       0.25                                              6.5          OXNARD AREA                                       CA                                 93035          Single Family
           16199698                       0                       0.25                                             6.75          CASTLE ROCK                                       CO                                 80104          PUD
           16199699                       0                       0.25                                            6.375          LAGUNA NIGUEL                                     CA                                 92677          PUD
           16199680                       0                       0.25                                            6.125          ENCINO AREA LOS ANGELES                           CA                                 91316          Single Family
           16199681                       0                       0.25                                              6.5          ALPHARETTA                                        GA                                 30005          PUD
           16199682                       0                       0.25                                            6.625          REDONDO BEACH                                     CA                                 90278          Single Family
           16199683                       0                       0.25                                            6.625          GLENDALE                                          CA                                 91207          Single Family
           16199684                       0                       0.25                                             6.75          BENICIA                                           CA                                 94510          Single Family
           16199685                       0                       0.25                                            6.375          OAK PARK                                          CA                                 91377          PUD
           16199686                       0                       0.25                                             6.75          ALTADENA AREA                                     CA                                 91001          Single Family
           16199687                       0                       0.25                                              6.5          MARBLE FALLS                                      TX                                 78654          PUD
           16199688                       0                       0.25                                            6.125          BOULDER                                           CO                                 80302          Single Family
           16199689                       0                       0.25                                            6.375          WEST HILLS AREA LOS ANGEL                         CA                                 91304          Single Family
           16199663                       0                       0.25                                            6.375          JASPER                                            AL                                 35504          Single Family
           16199664                       0                       0.25                                            7.375          HACIENDA HEIGHTS AREA                             CA                                 91745          Single Family
           16199665                       0                       0.25                                             6.25          MODESTO                                           CA                                 95355          Single Family
           16199666                       0                       0.25                                             5.75          HUNTINGTON BEACH                                  CA                                 92647          Single Family
           16199667                       0                       0.25                                              6.5          GILBERT                                           AZ                                 85296          PUD
           16199668                       0                       0.25                                            6.375          SCOTTSDALE                                        AZ                                 85262          PUD
           16199669                       0                       0.25                                            6.375          PHOENIX                                           AZ                                 85018          Single Family
           16199670                       0                       0.25                                              6.5          CARMEL VALLEY                                     CA                                 93924          Single Family
           16199671                       0                       0.25                                            5.875          CARLSBAD                                          CA                                 92011          PUD
           16199672                       0                       0.25                                            6.125          LAKE ELSINORE                                     CA                                 92532          PUD
           16199673                       0                       0.25                                              6.5          PHOENIX                                           AZ                                 85016          Single Family
           16199674                       0                       0.25                                              6.5          IRVINE                                            CA                                 92612          PUD
           16199675                       0                       0.25                                             6.25          ANAHEIM                                           CA                                 92804          Single Family
           16199676                       0                       0.25                                            6.375          MARCO ISLAND                                      FL                                 34145          Single Family
           16199677                       0                       0.25                                            6.375          ORLANDO                                           FL                                 32819          Single Family
           16199678                       0                       0.25                                              6.5          LOS ANGELES                                       CA                                 91367          Single Family
           16199679                       0                       0.25                                            6.375          COSTA MESA                                        CA                                 92626          Single Family
           16199753                       0                       0.25                                             5.75          SANTA CLARA                                       CA                                 95054          Condominium
           16199754                       0                       0.25                                                6          MIAMI                                             FL                                 33139          Condominium
           16199760                       0                       0.25                                            6.125          BIDDEFORD                                         ME                                  4005          Single Family
           16199762                       0                       0.25                                              6.5          LAHAINA                                           HI                                 96761          Condominium
           16199763                       0                       0.25                                            6.375          CARPINTERIA                                       CA                                 93013          Single Family
           16199764                       0                       0.25                                             5.75          SAN JOSE                                          CA                                 95111          Single Family
           16199765                       0                       0.25                                              6.5          MORGAN HILL                                       CA                                 95037          Single Family
           16199766                       0                       0.25                                            6.625          SANTA ROSA                                        CA                                 95401          PUD
           16199767                       0                       0.25                                             6.25          ROSEVILLE                                         CA                                 95747          Single Family
           16199768                       0                       0.25                                             6.25          HAWTHORNE                                         CA                                 90250          Single Family
           16199769                       0                       0.25                                             6.25          CORONA                                            CA                                 92882          Single Family
           16199770                       0                       0.25                                            6.375          SAN MARCOS                                        CA                                 92078          PUD
           16199771                       0                       0.25                                            6.375          PLEASANT HILL                                     CA                                 94523          Single Family
           16199772                       0                       0.25                                                6          CHULA VISTA                                       CA                                 91913          PUD
           16199773                       0                       0.25                                            6.125          IRVINE                                            CA                                 92620          PUD
           16199774                       0                       0.25                                             6.25          GREENWICH                                         CT                                  6830          Single Family
           16199775                       0                       0.25                                                6          LAKE FOREST                                       IL                                 60045          Single Family
           16199776                       0                       0.25                                              6.5          SANTA FE SPRINGS                                  CA                                 90670          Single Family
           16199777                       0                       0.25                                              6.5          BLUFFTON                                          SC                                 29910          PUD
           16199778                       0                       0.25                                            6.375          MISSION VIEJO                                     CA                                 92692          PUD
           16199779                       0                       0.25                                            6.375          TOPANGA                                           CA                                 90290          Single Family
           16199780                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90048          Condominium
           16199781                       0                       0.25                                            6.375          LONG BEACH                                        CA                                 90806          Single Family
           16199782                       0                       0.25                                             6.25          NEWBURY PARK                                      CA                                 91320          Single Family
           16199783                       0                       0.25                                            6.375          KAMUELA                                           HI                                 96743          Condominium
           16199784                       0                       0.25                                            6.125          FAIR OAKS                                         CA                                 95628          Single Family
           16199785                       0                       0.25                                            6.375          LANCASTER                                         CA                                 93536          Single Family
           16199786                       0                       0.25                                            6.375          LONGWOOD                                          FL                                 32779          PUD
           16199755                       0                       0.25                                            6.375          CARLSBAD                                          CA                                 92009          PUD
           16199756                       0                       0.25                                             6.25          LADERA RANCH AREA                                 CA                                 92694          PUD
           16199757                       0                       0.25                                            6.625          LOS ANGELES                                       CA                                 90013          Condominium
           16199758                       0                       0.25                                             6.25          SEATTLE                                           WA                                 98109          Single Family
           16199759                       0                       0.25                                              6.5          SAN LUIS OBISPO                                   CA                                 93401          Single Family
           16199632                       0                       0.25                                             6.25          PALM SPRINGS                                      CA                                 92264          Condominium
           16199633                       0                       0.25                                             5.75          DALLAS                                            TX                                 75206          Single Family
           16199634                       0                       0.25                                             5.75          SACRAMENTO                                        CA                                 95829          Single Family
           16199635                       0                       0.25                                            5.875          CORNELIUS                                         NC                                 28031          Single Family
           16199636                       0                       0.25                                            6.125          SAN JOSE                                          CA                                 95129          Condominium
           16199637                       0                       0.25                                              6.5          CASTLE ROCK                                       CO                                 80108          PUD
           16199638                       0                       0.25                                              6.5          LOMPOC                                            CA                                 93436          PUD
           16199639                       0                       0.25                                                6          LOMPOC                                            CA                                 93436          PUD
           16199640                       0                       0.25                                                6          SAN DIEGO                                         CA                                 92127          PUD
           16199641                       0                       0.25                                            5.875          SANTA CLARITA                                     CA                                 91354          Condominium
           16199642                       0                       0.25                                            6.125          COSTA MESA                                        CA                                 92627          Single Family
           16199643                       0                       0.25                                                6          INGLEWOOD                                         CA                                 90305          PUD
           16199644                       0                       0.25                                                6          INGLEWOOD                                         CA                                 90305          PUD
           16199645                       0                       0.25                                                6          INGLEWOOD                                         CA                                 90305          PUD
           16199646                       0                       0.25                                                6          OAKLEY                                            CA                                 94561          Single Family
           16199647                       0                       0.25                                             6.75          COOLIDGE                                          AZ                                 85228          Single Family
           16199648                       0                       0.25                                            6.125          HUNTINGTON BEACH                                  CA                                 92646          Single Family
           16199649                       0                       0.25                                              6.5          ST AUGUSTINE                                      FL                                 32084          Single Family
           16199650                       0                       0.25                                            6.625          NEWPORT BEACH                                     CA                                 92625          PUD
           16199651                       0                       0.25                                              6.5          PARKER                                            CO                                 80134          Single Family
           16199652                       0                       0.25                                            6.375          HUGHESVILLE                                       MD                                 20637          Single Family
           16199653                       0                       0.25                                             6.25          WASHINGTON                                        DC                                 20001          Single Family
           16199654                       0                       0.25                                            6.375          GAITHERSBURG                                      MD                                 20878          PUD
           16199655                       0                       0.25                                            6.125          NEWPORT                                           RI                                  2840          Single Family
           16199656                       0                       0.25                                             6.25          TEMECULA                                          CA                                 92592          PUD
           16199657                       0                       0.25                                              6.5          WALNUT CREEK                                      CA                                 94596          Single Family
           16199658                       0                       0.25                                            6.125          PLEASANTON                                        CA                                 94566          Single Family
           16199659                       0                       0.25                                            6.625          PALM BEACH GARDENS                                FL                                 33418          Single Family
           16199660                       0                       0.25                                             6.25          MANHATTAN BEACH                                   CA                                 90266          Single Family
           16199661                       0                       0.25                                             6.25          RIVER FOREST                                      IL                                 60305          Single Family
           16199662                       0                       0.25                                                6          BETHESDA                                          MD                                 20817          Single Family
           16199723                       0                       0.25                                              6.5          KOLOA                                             HI                                 96756          Single Family
           16199724                       0                       0.25                                            6.125          SAN FRANCISCO                                     CA                                 94105          Condominium
           16199725                       0                       0.25                                             6.25          BEVERLY HILLS                                     CA                                 90211          Single Family
           16199726                       0                       0.25                                            5.875          INGLEWOOD                                         CA                                 90305          PUD
           16199727                       0                       0.25                                                6          INGLEWOOD                                         CA                                 90305          PUD
           16199728                       0                       0.25                                            6.125          TORRANCE                                          CA                                 90503          Condominium
           16199729                       0                       0.25                                            6.125          LOS ANGELES                                       CA                                 90049          Condominium
           16199730                       0                       0.25                                            6.375          TIGARD                                            OR                                 97224          Single Family
           16199731                       0                       0.25                                             5.75          RANCHO CUCAMONGA                                  CA                                 91701          Single Family
           16199732                       0                       0.25                                            6.125          STERLING                                          VA                                 20165          PUD
           16199733                       0                       0.25                                            6.375          TORRANCE                                          CA                                 90503          Single Family
           16199734                       0                       0.25                                              6.5          KILL DEVIL HILLS                                  NC                                 27948          Single Family
           16199735                       0                       0.25                                              6.5          LOS BANOS                                         CA                                 93635          Single Family
           16199736                       0                       0.25                                            6.375          SAN CLEMENTE                                      CA                                 92673          PUD
           16199737                       0                       0.25                                            5.875          CHULA VISTA                                       CA                                 91913          PUD
           16199738                       0                       0.25                                             5.25          LITTLETON                                         CO                                 80123          PUD
           16199739                       0                       0.25                                             6.25          REDONDO BEACH                                     CA                                 90277          Single Family
           16199740                       0                       0.25                                            6.375          LIVERMORE                                         CA                                 94550          Single Family
           16199741                       0                       0.25                                            6.375          CONCORD                                           CA                                 94518          Single Family
           16199742                       0                       0.25                                              6.5          SANTEE                                            CA                                 92071          Single Family
           16199743                       0                       0.25                                                6          PALOS VERDES ESTATES                              CA                                 90274          Single Family
           16199744                       0                       0.25                                            5.875          KETCHUM                                           ID                                 83340          PUD
           16199745                       0                       0.25                                            6.375          SIGNAL HILL                                       CA                                 90755          Condominium
           16199746                       0                       0.25                                                6          PINECREST                                         FL                                 33156          Single Family
           16199747                       0                       0.25                                            6.625          BURBANK                                           CA                                 91505          Single Family
           16199748                       0                       0.25                                             6.25          HOPEWELL JUNCTION                                 NY                                 12533          Single Family
           16199749                       0                       0.25                                             6.25          SCOTTSDALE                                        AZ                                 85262          PUD
           16199750                       0                       0.25                                             6.25          OXNARD                                            CA                                 93030          Condominium
           16199751                       0                       0.25                                            6.375          GRANITE BAY                                       CA                                 95746          PUD
           16199752                       0                       0.25                                             6.25          LAGUNA NIGUEL                                     CA                                 92677          PUD
           16199720                       0                       0.25                                                6          WOODSBORO                                         MD                                 21798          Single Family
           16199721                       0                       0.25                                            6.375          SAN DIEGO                                         CA                                 92115          PUD
           16199722                       0                       0.25                                             6.25          VISTA                                             CA                                 92083          Single Family
           16232382                       0                       0.25                                             5.75          LONG BEACH                                        CA                                 90803          Condominium
           16199856                       0                       0.25                                            6.375          NEW YORK                                          NY                                 10003          CO-OP
           16199857                       0                       0.25                                                7          SUNNY ISLES BEACH                                 FL                                 33160          Condominium
           16199800                       0                       0.25                                             6.25          SIMI VALLEY                                       CA                                 93065          PUD
           16199801                       0                       0.25                                             6.25          DUARTE                                            CA                                 91010          Single Family
           16199802                       0                       0.25                                            5.875          SANTA CLARA                                       CA                                 95050          Single Family
           16199803                       0                       0.25                                            6.125          SNOWMASS VILLAGE                                  CO                                 81615          PUD
           16199804                       0                       0.25                                              6.5          TUJUNGA                                           CA                                 91042          Single Family
           16218700                       0                       0.25                                            6.625          LAS VEGAS                                         NV                                 89128          PUD
           16218701                       0                       0.25                                             6.25          MENLO PARK                                        CA                                 94025          Single Family
           16218702                       0                       0.25                                            6.625          SANTA ROSA                                        CA                                 95404          Single Family
           16218703                       0                       0.25                                             6.25          SIMI VALLEY                                       CA                                 93063          Single Family
           16218704                       0                       0.25                                                7          PALMDALE                                          CA                                 93551          Single Family
           16218705                       0                       0.25                                            6.875          SANTA MONICA                                      CA                                 90405          Single Family
           16218706                       0                       0.25                                                7          WELLINGTON                                        FL                                 33414          PUD
           16218707                       0                       0.25                                              6.5          FULLERTON                                         CA                                 92833          PUD
           16218708                       0                       0.25                                            5.875          DECATUR                                           GA                                 30033          Single Family
           16218709                       0                       0.25                                            6.375          LOS ANGELES                                       CA                                 90005          Single Family
           16218710                       0                       0.25                                              6.5          BERNARDS                                          NJ                                  7920          Single Family
           16218711                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90024          Condominium
           16218712                       0                       0.25                                            5.625          MURRIETA                                          CA                                 92563          PUD
           16218713                       0                       0.25                                             6.25          SARATOGA                                          CA                                 95070          Single Family
           16218714                       0                       0.25                                            5.875          SANTA ROSA                                        CA                                 95404          Single Family
           16218715                       0                       0.25                                             6.25          FOLSOM                                            CA                                 95630          Single Family
           16218716                       0                       0.25                                             6.75          MIRAMAR BEACH                                     FL                                 32550          Condominium
           16218717                       0                       0.25                                            6.125          SAN CLEMENTE                                      CA                                 92673          PUD
           16218718                       0                       0.25                                            6.375          NEEDHAM                                           MA                                  2494          Single Family
           16218719                       0                       0.25                                              6.5          BURLINGAME                                        CA                                 94010          Single Family
           16218720                       0                       0.25                                            6.625          LAKE ELSINORE                                     CA                                 92532          PUD
           16218721                       0                       0.25                                              6.5          SAN FRANCISCO                                     CA                                 94132          Condominium
           16218722                       0                       0.25                                            6.375          FULLERTON                                         CA                                 92833          Condominium
           16218723                       0                       0.25                                                7          BOSTON                                            MA                                  2116          Condominium
           16218724                       0                       0.25                                            6.625          WEST HOLLYWOOD                                    CA                                 90046          Condominium
           16218725                       0                       0.25                                            6.875          LAKE WORTH                                        FL                                 33467          PUD
           16218624                       0                       0.25                                              6.5          HENDERSON                                         NV                                 89052          PUD
           16218625                       0                       0.25                                                6          KIRKLAND                                          WA                                 98033          Single Family
           16218626                       0                       0.25                                             6.25          ENCINITAS                                         CA                                 92024          PUD
           16218627                       0                       0.25                                            6.125          ENCINITAS                                         CA                                 92024          PUD
           16218628                       0                       0.25                                            6.125          POWAY                                             CA                                 92064          Single Family
           16218629                       0                       0.25                                            6.625          HENDERSON                                         NV                                 89052          Single Family
           16218630                       0                       0.25                                            6.375          OAKLAND                                           CA                                 94612          Condominium
           16218631                       0                       0.25                                              7.5          CAMBRIDGE                                         MA                                  2138          2-4 Family
           16218632                       0                       0.25                                                6          CARLSBAD                                          CA                                 92010          Condominium
           16218633                       0                       0.25                                            6.125          SAN CLEMENTE                                      CA                                 92672          PUD
           16218634                       0                       0.25                                             6.25          HOBOKEN                                           NJ                                  7030          Condominium
           16218635                       0                       0.25                                            6.125          CAMBRIDGE                                         MA                                  2139          Condominium
           16218636                       0                       0.25                                            6.375          VALLEY CENTER                                     CA                                 92082          PUD
           16218637                       0                       0.25                                            6.375          CARLSBAD                                          CA                                 92009          PUD
           16218638                       0                       0.25                                                6          BOSTON                                            MA                                  2130          Single Family
           16218639                       0                       0.25                                             6.25          LA MIRADA                                         CA                                 90638          PUD
           16218640                       0                       0.25                                             6.25          RYE                                               NY                                 10580          Single Family
           16218641                       0                       0.25                                            6.375          NORTH BERGEN                                      NJ                                  7047          Condominium
           16218642                       0                       0.25                                             5.75          MOUNT PLEASANT                                    SC                                 29464          PUD
           16218643                       0                       0.25                                             6.75          FORT LAUDERDALE                                   FL                                 33301          PUD
           16218644                       0                       0.25                                              6.5          COPPEROPOLIS                                      CA                                 95228          PUD
           16218645                       0                       0.25                                            6.125          BOISE                                             ID                                 83714          PUD
           16218646                       0                       0.25                                            5.875          TENAFLY                                           NJ                                  7670          Single Family
           16218647                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90049          Single Family
           16218648                       0                       0.25                                            5.875          SAN JOSE                                          CA                                 95121          Single Family
           16218649                       0                       0.25                                             6.25          BEDMINSTER                                        NJ                                  7921          PUD
           16218650                       0                       0.25                                             5.75          EL CAJON                                          CA                                 92021          Single Family
           16218651                       0                       0.25                                            5.875          NEW YORK                                          NY                                 10012          CO-OP
           16218652                       0                       0.25                                              6.5          EVANSTON                                          IL                                 60201          Single Family
           16218653                       0                       0.25                                            6.125          WICHITA                                           KS                                 67205          PUD
           16218654                       0                       0.25                                             5.75          PARK CITY                                         UT                                 84098          Single Family
           16218655                       0                       0.25                                            6.375          EDWARDS                                           CO                                 81632          PUD
           16218656                       0                       0.25                                             6.75          PRINCEVILLE                                       HI                                 96722          Condominium
           16218657                       0                       0.25                                            6.625          THOUSAND OAKS                                     CA                                 91361          Single Family
           16218658                       0                       0.25                                            5.875          SOLANA BEACH                                      CA                                 92075          PUD
           16218659                       0                       0.25                                            6.875          BOULDER CITY                                      NV                                 89005          Single Family
           16218660                       0                       0.25                                            6.375          RENO                                              NV                                 89523          PUD
           16218661                       0                       0.25                                                6          BROOMFIELD                                        CO                                 80020          PUD
           16218662                       0                       0.25                                            6.125          DEPOE BAY                                         OR                                 97341          Single Family
           16218663                       0                       0.25                                             6.75          OCEANSIDE                                         CA                                 92057          Single Family
           16218664                       0                       0.25                                            6.375          LAS VEGAS                                         NV                                 89147          PUD
           16218665                       0                       0.25                                            6.125          CONCORD                                           CA                                 94521          PUD
           16218666                       0                       0.25                                            7.125          BRONX                                             NY                                 10465          2-4 Family
           16218667                       0                       0.25                                             6.25          HUNTINGTON BEACH                                  CA                                 92646          Single Family
           16218668                       0                       0.25                                            6.375          OCEAN CITY                                        NJ                                  8226          Single Family
           16218669                       0                       0.25                                             5.25          SAN CARLOS                                        CA                                 94070          Single Family
           16218670                       0                       0.25                                                6          SANTA BARBARA                                     CA                                 93111          Single Family
           16218671                       0                       0.25                                             6.25          FRISCO                                            TX                                 75034          PUD
           16218672                       0                       0.25                                            6.375          IMPERIAL BEACH                                    CA                                 91932          Condominium
           16218673                       0                       0.25                                            6.375          ENCINO                                            CA                                 91316          Condominium
           16218674                       0                       0.25                                            5.875          BURBANK                                           CA                                 91501          Single Family
           16218675                       0                       0.25                                            6.375          BROOKFIELD                                        CT                                  6804          Single Family
           16218676                       0                       0.25                                              6.5          VALENCIA                                          CA                                 91354          PUD
           16218677                       0                       0.25                                             6.25          SANTA YNEZ                                        CA                                 93460          Single Family
           16218678                       0                       0.25                                            6.125          ROWLAND HEIGHTS                                   CA                                 91748          Single Family
           16218679                       0                       0.25                                             7.25          CAPE CORAL                                        FL                                 33904          Single Family
           16218680                       0                       0.25                                             6.25          BASKING RIDGE                                     NJ                                  7920          Single Family
           16218681                       0                       0.25                                            5.875          SANTA ANA                                         CA                                 92705          Single Family
           16218682                       0                       0.25                                            6.125          POUND RIDGE                                       NY                                 10576          Single Family
           16218683                       0                       0.25                                            6.875          LA MESA                                           CA                                 91941          Single Family
           16218684                       0                       0.25                                            6.125          IRVINE                                            CA                                 92620          Condominium
           16218685                       0                       0.25                                            6.625          MILPITAS                                          CA                                 95035          Condominium
           16218686                       0                       0.25                                             6.25          OXNARD                                            CA                                 93030          Single Family
           16218687                       0                       0.25                                            6.625          LAS VEGAS                                         NV                                 89135          PUD
           16218688                       0                       0.25                                                7          SAN JOSE                                          CA                                 95112          Condominium
           16218689                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95123          Single Family
           16218690                       0                       0.25                                              6.5          HAYWARD                                           CA                                 94544          Single Family
           16218691                       0                       0.25                                              6.5          BEAVERTON                                         OR                                 97007          Single Family
           16218692                       0                       0.25                                            7.125          SAN FRANCISCO                                     CA                                 94112          Single Family
           16218693                       0                       0.25                                             6.25          OCEAN CITY                                        NJ                                  8226          Condominium
           16218694                       0                       0.25                                             6.25          VALLEY CENTER                                     CA                                 92082          Single Family
           16218695                       0                       0.25                                             6.25          LA MIRADA                                         CA                                 90638          Single Family
           16218696                       0                       0.25                                              6.5          LONG BEACH                                        CA                                 90808          Single Family
           16218697                       0                       0.25                                             6.75          BURLINGAME                                        CA                                 94010          Single Family
           16218608                       0                       0.25                                                5          BRENTWOOD                                         CA                                 94513          Single Family
           16218609                       0                       0.25                                              6.5          CAPTAIN COOK                                      HI                                 96704          Single Family
           16218698                       0                       0.25                                             6.25          TEMECULA                                          CA                                 92592          PUD
           16218699                       0                       0.25                                            6.375          GLENDALE                                          CA                                 91202          Single Family
           16223053                       0                       0.25                                            6.875          ITASCA                                            IL                                 60143          Single Family
           16223054                       0                       0.25                                             6.25          BONITA SPRINGS                                    FL                                 34135          PUD
           16223055                       0                       0.25                                            6.375          MORGAN HILL                                       CA                                 95037          PUD
           16223056                       0                       0.25                                            6.125          CAMBRIDGE                                         MA                                  2139          Condominium
           16223057                       0                       0.25                                            6.125          CAMBRIDGE                                         MA                                  2139          Condominium
           16223058                       0                       0.25                                            6.375          ISSAQUAH                                          WA                                 98027          PUD
           16223059                       0                       0.25                                              6.5          MIDDLE TWP/STONE HARBOR                           NJ                                  8247          Condominium
           16218610                       0                       0.25                                            6.625          NORWOOD                                           MA                                  2062          Condominium
           16218611                       0                       0.25                                             6.75          LEESBURG                                          VA                                 20175          PUD
           16218612                       0                       0.25                                            6.375          MONTGOMERY                                        TX                                 77356          PUD
           16218613                       0                       0.25                                              6.5          GARDENA                                           CA                                 90248          PUD
           16218614                       0                       0.25                                            6.375          OAKLAND                                           CA                                 94603          Single Family
           16218615                       0                       0.25                                             6.25          SAN JUAN CAPISTRANO                               CA                                 92675          Single Family
           16218616                       0                       0.25                                            6.375          TOWNSHIP OF OCEAN                                 NJ                                  8758          Single Family
           16218617                       0                       0.25                                             6.25          PURCELLVILLE                                      VA                                 20132          Single Family
           16218618                       0                       0.25                                            6.375          FREMONT                                           CA                                 94536          PUD
           16218619                       0                       0.25                                            6.375          FREMONT                                           CA                                 94536          PUD
           16218620                       0                       0.25                                            6.375          EL CAJON                                          CA                                 92019          Single Family
           16218621                       0                       0.25                                              6.5          LOS BANOS                                         CA                                 93635          Single Family
           16218622                       0                       0.25                                                6          SANTA ANA                                         CA                                 92706          Single Family
           16218623                       0                       0.25                                                6          CYPRESS                                           CA                                 90630          Single Family
           16218600                       0                       0.25                                            6.375          JACKSON TWP                                       NJ                                  8527          Single Family
           16218601                       0                       0.25                                            6.375          CORRALES                                          NM                                 87048          Single Family
           16218602                       0                       0.25                                            6.125          ENCINITAS                                         CA                                 92024          Condominium
           16218603                       0                       0.25                                              6.5          SIMI VALLEY                                       CA                                 93065          Single Family
           16218604                       0                       0.25                                            6.875          YORBA LINDA                                       CA                                 92886          PUD
           16218605                       0                       0.25                                            6.875          DELRAY BEACH                                      FL                                 33483          Single Family
           16218606                       0                       0.25                                            6.375          DISCOVERY BAY                                     CA                                 94514          PUD
           16218607                       0                       0.25                                            6.375          SAN FRANCISCO                                     CA                                 94110          Single Family
           16218597                       0                       0.25                                              6.5          PHOENIX                                           AZ                                 85086          Single Family
           16218598                       0                       0.25                                            6.375          PARKER                                            CO                                 80138          PUD
           16218599                       0                       0.25                                             6.75          ANTHEM                                            AZ                                 85086          PUD
           16218570                       0                       0.25                                              6.5          LAS VEGAS                                         NV                                 89139          PUD
           16218571                       0                       0.25                                              6.5          BREWSTER                                          MA                                  2631          Single Family
           16218572                       0                       0.25                                            6.625          LAS VEGAS                                         NV                                 89139          PUD
           16218573                       0                       0.25                                                6          SAN MARCOS                                        CA                                 92078          PUD
           16218574                       0                       0.25                                            6.375          LA QUINTA                                         CA                                 92253          PUD
           16218575                       0                       0.25                                            7.375          PROVINCETOWN                                      MA                                  2657          Single Family
           16218576                       0                       0.25                                             6.75          ALEXANDRIA                                        VA                                 22310          Single Family
           16218577                       0                       0.25                                            6.375          LELAND                                            MI                                 49654          Single Family
           16218578                       0                       0.25                                                6          BELLEVUE                                          WA                                 98004          Single Family
           16218579                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95125          Single Family
           16218580                       0                       0.25                                            6.125          HAYMARKET                                         VA                                 20169          PUD
           16218581                       0                       0.25                                             6.75          LOS ANGELES                                       CA                                 90045          Single Family
           16218582                       0                       0.25                                             7.25          SAN LORENZO                                       CA                                 94580          Single Family
           16218583                       0                       0.25                                             6.25          CHICAGO                                           IL                                 60657          Condominium
           16218584                       0                       0.25                                                6          FREDERICKSBURG                                    VA                                 22406          PUD
           16218585                       0                       0.25                                            6.375          VIRGINIA BEACH                                    VA                                 23454          Single Family
           16218586                       0                       0.25                                            6.375          CHANTILLY                                         VA                                 20152          PUD
           16218587                       0                       0.25                                            6.375          GLENDALE                                          CA                                 91208          Single Family
           16218588                       0                       0.25                                            6.375          ALISO VIEJO                                       CA                                 92656          PUD
           16218589                       0                       0.25                                            6.625          PORTLAND                                          OR                                 97229          PUD
           16218590                       0                       0.25                                              6.5          SANTA ROSA                                        CA                                 95407          Single Family
           16218591                       0                       0.25                                            6.625          LONG BEACH                                        CA                                 90815          Single Family
           16218592                       0                       0.25                                             6.75          BEVERLY                                           MA                                  1915          Single Family
           16218593                       0                       0.25                                              6.5          TEMECULA                                          CA                                 92591          PUD
           16218594                       0                       0.25                                            7.125          GLENN DALE                                        MD                                 20769          PUD
           16218595                       0                       0.25                                                6          OAKLAND                                           CA                                 94602          Single Family
           16218596                       0                       0.25                                            6.125          WATSONVILLE                                       CA                                 95076          PUD
           16232384                       0                       0.25                                            5.375          PEQUOT LAKES                                      MN                                 56472          Single Family
           16218960                       0                       0.25                                            6.375          LA JOLLA                                          CA                                 92037          Single Family
           16218961                       0                       0.25                                              6.5          LOS ANGELES                                       CA                                 90045          Single Family
           16218962                       0                       0.25                                            6.125          MENLO PARK                                        CA                                 94025          Single Family
           16218963                       0                       0.25                                            6.875          DUBLIN                                            CA                                 94568          PUD
           16218964                       0                       0.25                                            5.875          SAN JOSE                                          CA                                 95111          Single Family
           16218965                       0                       0.25                                             6.25          MUKILTEO                                          WA                                 98275          PUD
           16218966                       0                       0.25                                              4.5          BREMERTON                                         WA                                 98312          PUD
           16218967                       0                       0.25                                            6.375          NEWPORT BEACH                                     CA                                 92660          PUD
           16218968                       0                       0.25                                            6.375          FOLSOM                                            CA                                 95630          PUD
           16218969                       0                       0.25                                             6.75          PACIFIC PALISADES                                 CA                                 90272          Condominium
           16218970                       0                       0.25                                             6.25          SAN CLEMENTE                                      CA                                 92673          PUD
           16218971                       0                       0.25                                            6.375          SAN DIEGO                                         CA                                 92124          Single Family
           16218972                       0                       0.25                                             6.25          SUNNYVALE                                         CA                                 94089          Single Family
           16218973                       0                       0.25                                             6.25          SAN BRUNO                                         CA                                 94066          Single Family
           16218974                       0                       0.25                                              6.5          DALLAS                                            TX                                 75225          Single Family
           16218975                       0                       0.25                                            6.375          WASHINGTON                                        DC                                 20010          Single Family
           16218976                       0                       0.25                                            6.125          COEUR D ALENE                                     ID                                 83814          Condominium
           16218977                       0                       0.25                                            6.375          GOLETA                                            CA                                 93117          Single Family
           16218978                       0                       0.25                                             6.25          SALINAS                                           CA                                 93907          Single Family
           16218979                       0                       0.25                                              6.5          SANTA BARBARA                                     CA                                 93103          Condominium
           16218980                       0                       0.25                                              6.5          NORTH HILLS                                       CA                                 91343          Single Family
           16218981                       0                       0.25                                            6.125          LOS ANGELES                                       CA                                 90292          Condominium
           16218982                       0                       0.25                                             6.25          RANCHO SANTA MARGARITA                            CA                                 92688          Single Family
           16218983                       0                       0.25                                            6.625          FORT WALTON BEACH                                 FL                                 32548          Condominium
           16218984                       0                       0.25                                             6.25          SEQUIM                                            WA                                 98382          Single Family
           16218985                       0                       0.25                                            6.625          MISSION VIEJO                                     CA                                 92692          PUD
           16218986                       0                       0.25                                            6.375          THOUSAND OAKS                                     CA                                 91362          Single Family
           16218987                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90016          Single Family
           16218988                       0                       0.25                                            6.875          VIENNA                                            VA                                 22182          PUD
           16218989                       0                       0.25                                             6.25          MONTE SERENO                                      CA                                 95030          PUD
           16218990                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90026          Single Family
           16218991                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95117          Single Family
           16218992                       0                       0.25                                            6.625          CORONA                                            CA                                 92883          Single Family
           16218993                       0                       0.25                                            6.375          MANHATTAN BEACH                                   CA                                 90266          Single Family
           16218994                       0                       0.25                                                6          LAS VEGAS                                         NV                                 89149          PUD
           16218995                       0                       0.25                                            6.375          ALISO VIEJO                                       CA                                 92656          PUD
           16218996                       0                       0.25                                             6.25          MARINA                                            CA                                 93933          Single Family
           16218997                       0                       0.25                                            6.625          LOS ANGELES                                       CA                                 90068          Condominium
           16218998                       0                       0.25                                             6.25          LONG BEACH                                        CA                                 90808          Single Family
           16218999                       0                       0.25                                             6.25          REDONDO BEACH                                     CA                                 90278          Single Family
           16218940                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90077          PUD
           16218941                       0                       0.25                                            6.375          LADERA RANCH                                      CA                                 92694          PUD
           16218942                       0                       0.25                                                6          CENTREVILLE                                       VA                                 20121          Single Family
           16218943                       0                       0.25                                            6.125          GREENWOOD VILLAGE                                 CO                                 80111          PUD
           16218944                       0                       0.25                                                6          ORANGE                                            CA                                 92869          Single Family
           16218945                       0                       0.25                                             6.25          DENVER                                            CO                                 80209          Single Family
           16218946                       0                       0.25                                            6.375          APOLLO BEACH                                      FL                                 33572          PUD
           16218947                       0                       0.25                                            6.125          WILTON                                            CT                                  6897          Single Family
           16218948                       0                       0.25                                              6.5          SYLMAR                                            CA                                 91342          Single Family
           16218949                       0                       0.25                                            6.625          HILTON HEAD ISLAND                                SC                                 29926          PUD
           16218950                       0                       0.25                                            6.375          SANTA ROSA BEACH                                  FL                                 32459          PUD
           16218951                       0                       0.25                                             6.25          LAS VEGAS                                         NV                                 89141          PUD
           16218952                       0                       0.25                                             6.25          TEMECULA                                          CA                                 92591          PUD
           16218953                       0                       0.25                                            6.875          SAMMAMISH                                         WA                                 98075          PUD
           16218954                       0                       0.25                                            6.125          IRVINE                                            CA                                 92620          Condominium
           16218955                       0                       0.25                                              6.5          ORLANDO                                           FL                                 32804          Single Family
           16218956                       0                       0.25                                            6.625          LANSDOWNE                                         VA                                 20176          PUD
           16218957                       0                       0.25                                              6.5          LA HABRA HEIGHTS                                  CA                                 90631          Single Family
           16218958                       0                       0.25                                            6.875          MOORESTOWN                                        NJ                                  8057          Single Family
           16218959                       0                       0.25                                            6.375          SAN JOSE                                          CA                                 95148          PUD
           16218930                       0                       0.25                                              5.5          SAN DIEGO                                         CA                                 92130          PUD
           16218931                       0                       0.25                                            5.625          CUPERTINO                                         CA                                 95014          Condominium
           16218932                       0                       0.25                                            6.125          GLENDALE                                          CA                                 91208          Single Family
           16218933                       0                       0.25                                            5.875          HOUSTON                                           TX                                 77005          Single Family
           16218934                       0                       0.25                                             6.25          CARLSBAD                                          CA                                 92009          PUD
           16218935                       0                       0.25                                            6.875          MISSION VIEJO                                     CA                                 92692          Condominium
           16218936                       0                       0.25                                            6.125          LOS ANGELES                                       CA                                 90012          Condominium
           16218937                       0                       0.25                                            6.375          SANTA MONICA                                      CA                                 90404          Condominium
           16218938                       0                       0.25                                            6.625          LOS ANGELES                                       CA                                 90025          Condominium
           16218939                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90025          Condominium
           16218885                       0                       0.25                                                6          FONTANA                                           CA                                 92336          PUD
           16218886                       0                       0.25                                            5.875          INGLEWOOD                                         CA                                 90305          PUD
           16218887                       0                       0.25                                                6          INGLEWOOD                                         CA                                 90305          PUD
           16218888                       0                       0.25                                              6.5          LAUREL HOLLOW                                     NY                                 11791          Single Family
           16218889                       0                       0.25                                                6          WINTER PARK                                       FL                                 32789          Single Family
           16218890                       0                       0.25                                            6.375          FOLSOM                                            CA                                 95630          PUD
           16218891                       0                       0.25                                             6.25          MONROVIA                                          CA                                 91016          Single Family
           16218892                       0                       0.25                                            6.125          CINCINNATI                                        OH                                 45208          Single Family
           16218893                       0                       0.25                                                6          LONE TREE                                         CO                                 80124          PUD
           16218894                       0                       0.25                                             6.25          CHULA VISTA                                       CA                                 91915          PUD
           16218895                       0                       0.25                                            6.875          PHOENIX                                           AZ                                 85042          PUD
           16218896                       0                       0.25                                            6.375          ORONO                                             MN                                 55356          Single Family
           16218897                       0                       0.25                                             6.25          ANTIOCH                                           CA                                 94531          Single Family
           16218898                       0                       0.25                                              6.5          SHAVER LAKE                                       CA                                 93664          PUD
           16218899                       0                       0.25                                            6.625          TRINIDAD                                          CA                                 95570          Single Family
           16218880                       0                       0.25                                            6.375          LA QUINTA                                         CA                                 92253          PUD
           16218881                       0                       0.25                                            6.375          BREA                                              CA                                 92821          PUD
           16218882                       0                       0.25                                             5.75          RENTON                                            WA                                 98055          PUD
           16218883                       0                       0.25                                            6.875          SAN DIEGO                                         CA                                 92106          Single Family
           16218884                       0                       0.25                                            6.375          LAS VEGAS                                         NV                                 89135          PUD
           16218901                       0                       0.25                                            5.875          PLAYA VISTA                                       CA                                 90094          Condominium
           16218902                       0                       0.25                                            6.875          LAHAINA                                           HI                                 96761          Condominium
           16218903                       0                       0.25                                            6.375          CHANTILLY                                         VA                                 20152          PUD
           16218904                       0                       0.25                                             5.75          RANCHO CUCAMONGA                                  CA                                 91739          Single Family
           16218905                       0                       0.25                                             6.75          LONE TREE                                         CO                                 80124          PUD
           16218906                       0                       0.25                                            6.875          LOS ANGELES                                       CA                                 90034          Single Family
           16218907                       0                       0.25                                             6.75          TORRANCE                                          CA                                 90504          Single Family
           16218908                       0                       0.25                                            6.375          MOORPARK                                          CA                                 93021          PUD
           16218909                       0                       0.25                                            6.375          GLENDALE                                          CA                                 91206          Single Family
           16218910                       0                       0.25                                             6.75          GRANITE BAY                                       CA                                 95746          PUD
           16218911                       0                       0.25                                              7.5          BURKE                                             VA                                 22015          PUD
           16218912                       0                       0.25                                             6.75          SANTA CRUZ                                        CA                                 95060          Single Family
           16218913                       0                       0.25                                             6.75          SAN DIEGO                                         CA                                 92103          Single Family
           16218914                       0                       0.25                                            6.625          TACOMA                                            WA                                 98406          Single Family
           16218915                       0                       0.25                                              6.5          RANCHO SANTA MARGARITA                            CA                                 92679          PUD
           16218916                       0                       0.25                                                6          PLAINFIELD                                        IL                                 60585          Single Family
           16218917                       0                       0.25                                            6.375          LA QUINTA                                         CA                                 92253          PUD
           16218918                       0                       0.25                                            5.875          SAN FRANCISCO                                     CA                                 94105          Condominium
           16218919                       0                       0.25                                            6.625          MAMMOTH LAKES                                     CA                                 93546          Single Family
           16218920                       0                       0.25                                             6.25          SAN CLEMENTE                                      CA                                 92673          PUD
           16218921                       0                       0.25                                            6.625          ALPINE                                            CA                                 91901          PUD
           16218922                       0                       0.25                                            6.125          LA QUINTA                                         CA                                 92253          PUD
           16218923                       0                       0.25                                             6.25          LOS ANGELES                                       CA                                 90012          Condominium
           16218924                       0                       0.25                                            6.875          ADAMSTOWN                                         MD                                 21710          PUD
           16218925                       0                       0.25                                            6.375          UPLAND                                            CA                                 91784          PUD
           16218926                       0                       0.25                                            6.375          REDLANDS                                          CA                                 92373          Single Family
           16218927                       0                       0.25                                                8          TORRANCE                                          CA                                 90503          Condominium
           16218928                       0                       0.25                                            6.125          LA QUINTA                                         CA                                 92253          PUD
           16218929                       0                       0.25                                             6.75          LOS ANGELES                                       CA                                 90066          Condominium
           16218900                       0                       0.25                                            6.125          SHERMAN OAKS                                      CA                                 91423          Single Family
           16219027                       0                       0.25                                            6.875          DORAL                                             FL                                 33178          PUD
           16219029                       0                       0.25                                              6.5          FOUNTAIN VALLEY                                   CA                                 92708          Single Family
           16219030                       0                       0.25                                            6.375          FRISCO                                            TX                                 75034          PUD
           16219000                       0                       0.25                                             6.75          ORLANDO                                           FL                                 32836          PUD
           16219001                       0                       0.25                                            6.375          HIGHLAND BEACH                                    FL                                 33487          PUD
           16219002                       0                       0.25                                            6.125          BRIGHAM CITY                                      UT                                 84302          Single Family
           16219003                       0                       0.25                                            6.875          GAINESVILLE                                       FL                                 32606          Single Family
           16219004                       0                       0.25                                            6.625          ESCONDIDO                                         CA                                 92027          PUD
           16219005                       0                       0.25                                              6.5          SANTA CRUZ                                        CA                                 95062          Single Family
           16219006                       0                       0.25                                            6.625          BELLEVUE                                          WA                                 98008          Single Family
           16219007                       0                       0.25                                            6.375          COOL                                              CA                                 95614          PUD
           16219008                       0                       0.25                                            6.375          SEATTLE                                           WA                                 98125          Single Family
           16219009                       0                       0.25                                            6.375          ORMOND BEACH                                      FL                                 32176          Single Family
           16219010                       0                       0.25                                            6.125          FRANKLIN                                          TN                                 37069          Single Family
           16219011                       0                       0.25                                            6.125          GREENBRAE                                         CA                                 94904          Single Family
           16219012                       0                       0.25                                            6.375          ROSEVILLE                                         CA                                 95661          Single Family
           16219013                       0                       0.25                                              6.5          EL DORADO HILLS                                   CA                                 95762          PUD
           16219014                       0                       0.25                                            6.625          FAIRFAX                                           VA                                 22031          PUD
           16219015                       0                       0.25                                            6.375          LA CRESCENTA                                      CA                                 91214          Single Family
           16219016                       0                       0.25                                              6.5          SUN VALLEY                                        CA                                 91352          Single Family
           16219017                       0                       0.25                                            6.375          SAN JOSE                                          CA                                 95130          Single Family
           16219018                       0                       0.25                                            5.875          MOUNTAIN VIEW                                     CA                                 94043          PUD
           16219019                       0                       0.25                                             6.75          WOODLAND HILLS                                    CA                                 91364          Single Family
           16219020                       0                       0.25                                              6.5          LOS ANGELES                                       CA                                 90004          Single Family
           16219021                       0                       0.25                                            6.125          REDWOOD CITY                                      CA                                 94065          PUD
           16219022                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95127          Single Family
           16219023                       0                       0.25                                            6.375          YORBA LINDA                                       CA                                 92886          Single Family
           16219024                       0                       0.25                                            6.625          DESTIN                                            FL                                 32541          Condominium
           16219025                       0                       0.25                                            6.125          OAK PARK                                          CA                                 91377          Single Family
           16219026                       0                       0.25                                            6.625          COSTA MESA                                        CA                                 92626          Single Family
           16132484                       0                       0.25                                              6.5          MENLO PARK                                        CA                                 94025          Single Family
           16132485                       0                       0.25                                            5.125          POWAY                                             CA                                 92064          PUD
           16132486                       0                       0.25                                            5.375          WESTPORT                                          CT                                  6880          Single Family
           16132487                       0                       0.25                                             5.75          SAN JOSE                                          CA                                 95138          PUD
           16132488                       0                       0.25                                            6.875          WINDERMERE                                        FL                                 34786          PUD
           16132490                       0                       0.25                                            6.625          HOLLISTER                                         CA                                 95023          Single Family
           16132491                       0                       0.25                                            6.625          TRURO                                             MA                                  2666          Single Family
           16132492                       0                       0.25                                             6.25          CHICAGO                                           IL                                 60614          Single Family
           15830580                       0                       0.25                                            4.875          MCMURRAY                                          PA                                 15317          Single Family
           15830659                       0                       0.25                                            4.875          INVER GROVE                                       MN                                 55077          Single Family
           15830691                       0                       0.25                                            5.375          NAZARETH                                          PA                                 18064          Single Family
           15830692                       0                       0.25                                            5.125          NEW YORK                                          NY                                 10013          Condominium
           15830779                       0                       0.25                                              5.5          RENTON                                            WA                                 98055          Single Family
           15830881                       0                       0.25                                              6.5          SCOTTSDALE                                        AZ                                 85254          Condominium
           15830883                       0                       0.25                                            6.125          SCOTTSDALE                                        AZ                                 85254          Condominium
           15830956                       0                       0.25                                              5.5          BALTIMORE                                         MD                                 21230          Single Family
           15830987                       0                       0.25                                            4.875          SAN CLEMENTE                                      CA                                 92672          Condominium
           15831159                       0                       0.25                                            6.125          BOLINGBROOK                                       IL                                 60440          Single Family
           15831162                       0                       0.25                                             5.75          THORNTON                                          CO                                 80229          Single Family
           15831298                       0                       0.25                                                5          BENICIA                                           CA                                 94510          Single Family
           15831306                       0                       0.25                                            4.875          TINTON FALLS                                      NJ                                  7724          Single Family
           15831355                       0                       0.25                                                5          WESTLAKE VILLAGE                                  CA                                 91361          Single Family
           15831373                       0                       0.25                                                5          ASHBURN                                           VA                                 20148          Single Family
           15831471                       0                       0.25                                             5.75          SAN DIEGO                                         CA                                 92122          Condominium
           15831507                       0                       0.25                                                5          ROGERS                                            AR                                 72756          Single Family
           15831577                       0                       0.25                                            5.625          CHICAGO                                           IL                                 60614          Condominium
           15831602                       0                       0.25                                            5.875          SUNNYVALE                                         CA                                 94087          Condominium
           15831626                       0                       0.25                                            5.625          BOLINAS                                           CA                                 94924          Single Family
           15831665                       0                       0.25                                            5.875          REDMOND                                           WA                                 98053          Single Family
           15831684                       0                       0.25                                            5.875          NORTH LAS VEGAS                                   NV                                 89081          Single Family
           15831701                       0                       0.25                                            5.875          MARANA                                            AZ                                 85653          Single Family
           16019791                       0                       0.25                                            5.125          SAN LORENZO                                       CA                                 94580          Condominium
           16019841                       0                       0.25                                            5.125          FRESNO                                            CA                                 93720          Single Family
           16019844                       0                       0.25                                                5          BLUE RIDGE                                        VA                                 24064          Single Family
           16020328                       0                       0.25                                            5.125          RIO RANCHO                                        NM                                 87144          Single Family
           16020419                       0                       0.25                                             5.25          OAKLAND                                           CA                                 94602          Single Family
           16020619                       0                       0.25                                            5.125          LAGUNA NIGUE                                      CA                                 92677          Condominium
           16020700                       0                       0.25                                             5.25          KIRKLAND                                          WA                                 98033          Single Family
           16020753                       0                       0.25                                             5.25          PLAINSBORO                                        NJ                                  8536          Single Family
           16020805                       0                       0.25                                             5.25          MENIFEE                                           CA                                 92584          Single Family
           16020911                       0                       0.25                                             4.25          LANDENBERG                                        PA                                 19350          Single Family
           16166788                       0                       0.25                                                6          LOMPOC                                            CA                                 93436          PUD
           16166791                       0                       0.25                                              6.5          FALL CITY                                         WA                                 98024          PUD
           16166795                       0                       0.25                                            6.625          RIVERSIDE                                         CA                                 92503          Single Family
           16166796                       0                       0.25                                              6.5          FREDERICK                                         MD                                 21704          PUD
           16166748                       0                       0.25                                            6.375          WEBSTER GROVES                                    MO                                 63119          Single Family
           16166762                       0                       0.25                                            6.625          SNOHOMISH                                         WA                                 98296          Single Family
           16166772                       0                       0.25                                            5.875          CORONA                                            CA                                 92880          Single Family
           16166776                       0                       0.25                                             6.25          GARDENA                                           CA                                 90248          Single Family
           16166781                       0                       0.25                                                6          FREDERICKSBURG                                    VA                                 22407          PUD
           16166782                       0                       0.25                                                6          MENIFEE                                           CA                                 92584          Single Family
           16166787                       0                       0.25                                            6.625          DADEVILLE                                         AL                                 36853          Single Family
           16166737                       0                       0.25                                                6          EL DORADO HILLS                                   CA                                 95762          Single Family
           16166621                       0                       0.25                                              5.5          JUPITER                                           FL                                 33477          PUD
           16166639                       0                       0.25                                            6.875          FAIRFIELD                                         CT                                  6824          Single Family
           16166641                       0                       0.25                                              6.5          LOS ANGELES                                       CA                                 90066          Condominium
           16166645                       0                       0.25                                            6.375          PLEASANTON                                        CA                                 94588          Single Family
           16166660                       0                       0.25                                            6.375          AREA OF TRABUCO CANYON                            CA                                 92679          PUD
           16166664                       0                       0.25                                            6.375          SOUTH PASADENA                                    CA                                 91030          Single Family
           16166666                       0                       0.25                                            6.375          ELK GROVE                                         CA                                 95757          Single Family
           16166669                       0                       0.25                                             6.25          BAKERSFIELD                                       CA                                 93314          PUD
           16166670                       0                       0.25                                            6.625          LOS ANGELES                                       CA                                 90068          Single Family
           16166672                       0                       0.25                                            6.375          FOLSOM                                            CA                                 95630          PUD
           16166679                       0                       0.25                                            6.125          ANTIOCH                                           CA                                 94531          Single Family
           16166682                       0                       0.25                                             5.75          SAUGUS                                            CA                                 91350          PUD
           16166683                       0                       0.25                                                6          ANAHEIM                                           CA                                 92807          Single Family
           16166686                       0                       0.25                                            6.375          LAKEWOOD                                          WA                                 98498          Single Family
           16166689                       0                       0.25                                             5.75          CHULA VISTA                                       CA                                 91914          PUD
           16166695                       0                       0.25                                             6.75          ORANGEVALE                                        CA                                 95662          Single Family
           16166698                       0                       0.25                                              6.5          SUNNYVALE                                         CA                                 94085          PUD
           16166702                       0                       0.25                                              6.5          WALDORF                                           MD                                 20603          PUD
           16166711                       0                       0.25                                            5.875          AGOURA HILLS                                      CA                                 91301          PUD
           16166716                       0                       0.25                                              6.5          AUSTIN                                            TX                                 78733          PUD
           16166725                       0                       0.25                                                6          FORT LEE                                          NJ                                  7024          2-4 Family
           16166729                       0                       0.25                                             6.25          THOUSAND OAKS                                     CA                                 91360          Single Family
           16166616                       0                       0.25                                             6.25          WILSONVILLE                                       OR                                 97070          PUD
           16166593                       0                       0.25                                            5.625          SANTA CLARITA                                     CA                                 91354          Single Family
           16166595                       0                       0.25                                                6          SAN RAMON                                         CA                                 94582          Condominium
           16166610                       0                       0.25                                             6.75          PUNTA GORDA                                       FL                                 33950          Single Family
           16166613                       0                       0.25                                             5.75          SHERMAN OAKS                                      CA                                 91423          Single Family
           16166614                       0                       0.25                                            6.375          ORINDA                                            CA                                 94563          Single Family
           16166577                       0                       0.25                                              6.5          THOUSAND OAKS                                     CA                                 91360          Single Family
           16166579                       0                       0.25                                            6.375          LAKEWOOD                                          CA                                 90713          Single Family
           16166580                       0                       0.25                                            6.125          ASHBURN                                           VA                                 20147          PUD
           16166454                       0                       0.25                                             6.25          CASTAIC                                           CA                                 91384          Single Family
           16166458                       0                       0.25                                             6.75          JACKSONVILLE                                      FL                                 32256          PUD
           16166459                       0                       0.25                                                5          EAST GREENWICH                                    RI                                  2818          Single Family
           16166460                       0                       0.25                                            6.375          SAN FRANCISCO                                     CA                                 94134          Single Family
           16166467                       0                       0.25                                              6.5          CANTON                                            MI                                 48187          Condominium
           16166469                       0                       0.25                                              6.5          DAVIE                                             FL                                 33330          PUD
           16166470                       0                       0.25                                            5.875          SAN JOSE                                          CA                                 95131          PUD
           16166474                       0                       0.25                                            6.125          ALPINE                                            CA                                 91901          Single Family
           16166477                       0                       0.25                                            6.875          CORONA                                            CA                                 92880          Single Family
           16166488                       0                       0.25                                              5.5          MODESTO                                           CA                                 95355          Single Family
           16166494                       0                       0.25                                            6.125          HAYWARD                                           CA                                 94544          Single Family
           16166515                       0                       0.25                                                6          NORTHRIDGE                                        CA                                 91325          Single Family
           16166518                       0                       0.25                                            6.375          FALLBROOK                                         CA                                 92028          Single Family
           16166519                       0                       0.25                                                6          SAN DIEGO                                         CA                                 92128          Condominium
           16166521                       0                       0.25                                             6.25          PORT ARANSAS                                      TX                                 78373          Single Family
           16166522                       0                       0.25                                                6          RICHMOND                                          CA                                 94806          PUD
           16166523                       0                       0.25                                            6.375          RANCHO CORDOVA                                    CA                                 95742          PUD
           16166524                       0                       0.25                                              6.5          GARDEN GROVE                                      CA                                 92840          Single Family
           16166526                       0                       0.25                                             6.25          SAN DIEGO                                         CA                                 92128          PUD
           16166533                       0                       0.25                                              6.5          OXNARD                                            CA                                 93036          Single Family
           16166539                       0                       0.25                                             6.75          PHILADELPHIA                                      PA                                 19146          Condominium
           16166540                       0                       0.25                                             6.25          COTO DE CAZA                                      CA                                 92679          Condominium
           16166544                       0                       0.25                                            6.125          HUNTINGTON BEACH                                  CA                                 92646          Condominium
           16166545                       0                       0.25                                            6.375          IRVINE                                            CA                                 92614          Single Family
           16166550                       0                       0.25                                            5.875          COSTA MESA                                        CA                                 92627          Single Family
           16166560                       0                       0.25                                            5.875          NORTH BETHESDA                                    MD                                 20852          Condominium
           16166417                       0                       0.25                                            5.375          SAN JUAN CAPISTRANO                               CA                                 92675          PUD
           16166419                       0                       0.25                                            5.875          FONTANA                                           CA                                 92336          Single Family
           16166421                       0                       0.25                                             6.25          CUPERTINO                                         CA                                 95014          Single Family
           16166425                       0                       0.25                                            5.875          LAKEWOOD                                          CA                                 90713          Single Family
           16166426                       0                       0.25                                              5.5          LAGUNA NIGUEL                                     CA                                 92677          PUD
           16166428                       0                       0.25                                                6          FREDERICK                                         MD                                 21702          Single Family
           16166435                       0                       0.25                                            6.375          CORONA                                            CA                                 92880          Single Family
           16166436                       0                       0.25                                            6.625          INDIANAPOLIS                                      IN                                 46260          PUD
           16166443                       0                       0.25                                                6          SAN JOSE                                          CA                                 95125          Single Family
           16166449                       0                       0.25                                            6.625          BARTLETT                                          IL                                 60103          Single Family
           16166319                       0                       0.25                                            6.125          PHOENIX                                           AZ                                 85012          Single Family
           16166321                       0                       0.25                                            6.125          RANCHO CORDOVA                                    CA                                 95742          PUD
           16166323                       0                       0.25                                              6.5          LAS VEGAS                                         NV                                 89131          PUD
           16166327                       0                       0.25                                            5.625          JACKSON HOLE                                      WY                                 83001          PUD
           16166328                       0                       0.25                                              6.5          PHOENIX                                           AZ                                 85021          PUD
           16166336                       0                       0.25                                              5.5          MIRAMAR                                           FL                                 33029          Single Family
           16166340                       0                       0.25                                            6.375          CRESTED BUTTE                                     CO                                 81224          Single Family
           16166344                       0                       0.25                                            5.875          LAS VEGAS                                         NV                                 89135          PUD
           16166349                       0                       0.25                                             6.25          WELLESLEY                                         MA                                  2482          Single Family
           16166353                       0                       0.25                                              5.5          PETALUMA                                          CA                                 94954          PUD
           16166359                       0                       0.25                                                6          MONTROSE                                          CA                                 91020          Single Family
           16166364                       0                       0.25                                              6.5          EL SEGUNDO                                        CA                                 90245          Condominium
           16166377                       0                       0.25                                             6.75          LA QUINTA                                         CA                                 92253          PUD
           16166378                       0                       0.25                                            6.125          GAINESVILLE                                       VA                                 20155          PUD
           16166379                       0                       0.25                                              6.5          CAMARILLO                                         CA                                 93010          Single Family
           16166380                       0                       0.25                                             5.75          NEW CANAAN                                        CT                                  6840          Single Family
           16166389                       0                       0.25                                             5.75          POOLESVILLE                                       MD                                 20837          Single Family
           16166390                       0                       0.25                                            5.875          THOUSAND OAKS                                     CA                                 91360          Condominium
           16166395                       0                       0.25                                            6.625          LAS VEGAS                                         NV                                 89178          Single Family
           16166407                       0                       0.25                                              6.5          SAN FRANCISCO                                     CA                                 94121          2-4 Family
           16166411                       0                       0.25                                             6.25          WILMINGTON                                        NC                                 28409          PUD
           16166289                       0                       0.25                                              5.5          STUDIO CITY                                       CA                                 91604          Single Family
           16166296                       0                       0.25                                            5.625          ALPHARETTA                                        GA                                 30022          PUD
           16166310                       0                       0.25                                             5.25          THOUSAND OAKS                                     CA                                 91320          PUD
           16166313                       0                       0.25                                            5.875          WOODLAND                                          CA                                 95695          Single Family
           16166315                       0                       0.25                                            5.625          SIMPSONVILLE                                      SC                                 29681          PUD
           16166318                       0                       0.25                                            6.875          OXNARD                                            CA                                 93035          Single Family
           16166098                       0                       0.25                                            6.375          ELK GROVE                                         CA                                 95758          Single Family
           16166102                       0                       0.25                                              5.5          CARLSBAD                                          CA                                 92009          PUD
           16166104                       0                       0.25                                            6.375          DANA POINT                                        CA                                 92624          Single Family
           16166106                       0                       0.25                                                6          BATAVIA                                           IL                                 60510          PUD
           16166107                       0                       0.25                                             6.25          NEW CANAAN                                        CT                                  6840          Single Family
           16166108                       0                       0.25                                            5.625          EL DORADO HILLS                                   CA                                 95762          PUD
           16166110                       0                       0.25                                            5.875          YORBA LINDA                                       CA                                 92886          Single Family
           16166113                       0                       0.25                                             5.75          MOUNTAIN HOUSE                                    CA                                 95391          Single Family
           16166115                       0                       0.25                                             6.25          NEWPORT BEACH                                     CA                                 92625          PUD
           16166116                       0                       0.25                                            5.875          CENTREVILLE                                       VA                                 20120          PUD
           16166121                       0                       0.25                                             5.75          BRISTOW                                           VA                                 20136          PUD
           16166122                       0                       0.25                                            6.625          SILVER SPRING                                     MD                                 20901          PUD
           16166125                       0                       0.25                                            5.125          LAS VEGAS                                         NV                                 89131          PUD
           16166127                       0                       0.25                                             6.25          SANTEE                                            CA                                 92071          Single Family
           16166128                       0                       0.25                                             5.75          NAPLES                                            FL                                 34102          Single Family
           16166135                       0                       0.25                                            5.875          DELRAY BEACH                                      FL                                 33446          PUD
           16166136                       0                       0.25                                                6          TUCSON                                            AZ                                 85718          PUD
           16166138                       0                       0.25                                            6.125          IRVINE                                            CA                                 92614          Condominium
           16166142                       0                       0.25                                            6.125          RIVA                                              MD                                 21140          Single Family
           16166143                       0                       0.25                                              6.5          SCOTTSDALE                                        AZ                                 85255          PUD
           16166145                       0                       0.25                                             6.25          REDMOND                                           WA                                 98052          Single Family
           16166147                       0                       0.25                                            5.875          MISSION VIEJO                                     CA                                 92691          PUD
           16166148                       0                       0.25                                            6.125          NORTH KINGSTOWN                                   RI                                  2874          Single Family
           16166151                       0                       0.25                                            6.125          BRIGHTON                                          CO                                 80603          Single Family
           16166152                       0                       0.25                                              6.5          MARLBOROUGH                                       MA                                  1752          Single Family
           16166155                       0                       0.25                                            6.875          YORBA LINDA                                       CA                                 92886          Single Family
           16166159                       0                       0.25                                             5.75          LAUREL                                            MD                                 20723          PUD
           16166160                       0                       0.25                                              5.5          EMERYVILLE                                        CA                                 94608          Condominium
           16166161                       0                       0.25                                            6.875          EHRENBERG                                         AZ                                 85334          PUD
           16166163                       0                       0.25                                            5.875          NORTH OAKS                                        MN                                 55127          Single Family
           16166164                       0                       0.25                                              6.5          DENVER                                            CO                                 80206          Single Family
           16166167                       0                       0.25                                                6          CUMMING                                           GA                                 30041          PUD
           16166168                       0                       0.25                                            6.375          SUN VALLEY                                        ID                                 83353          Condominium
           16166170                       0                       0.25                                            6.125          CHANDLER                                          AZ                                 85249          PUD
           16166175                       0                       0.25                                            6.125          HENDERSON                                         NV                                 89052          PUD
           16166176                       0                       0.25                                             6.25          CENTREVILLE                                       VA                                 20120          PUD
           16166178                       0                       0.25                                              6.5          FT MYERS                                          FL                                 33908          PUD
           16166189                       0                       0.25                                            6.375          MISSION VIEJO                                     CA                                 92691          Single Family
           16166194                       0                       0.25                                            6.125          PETALUMA                                          CA                                 94954          PUD
           16166197                       0                       0.25                                             6.25          OAKLAND                                           CA                                 94605          Single Family
           16166200                       0                       0.25                                            6.625          GILBERT                                           AZ                                 85296          PUD
           16166201                       0                       0.25                                              6.5          ANAHEIM                                           CA                                 92805          PUD
           16166202                       0                       0.25                                              5.5          DALLAS                                            TX                                 75229          Single Family
           16166203                       0                       0.25                                            6.375          CORONA                                            CA                                 92883          PUD
           16166204                       0                       0.25                                            5.875          SANTA CLARA                                       CA                                 95054          Condominium
           16166207                       0                       0.25                                             6.25          FORT MYERS                                        FL                                 33908          Single Family
           16166213                       0                       0.25                                            6.625          SANTA BARBARA                                     CA                                 93105          Single Family
           16166217                       0                       0.25                                                6          LADERA RANCH AREA                                 CA                                 92694          Condominium
           16166218                       0                       0.25                                             5.75          TRACY                                             CA                                 95377          PUD
           16166220                       0                       0.25                                                6          NORTH HOLLYWOOD AREA                              CA                                 91605          Single Family
           16166223                       0                       0.25                                             6.25          THE VILLAGES                                      FL                                 32162          PUD
           16166225                       0                       0.25                                              6.5          NOVATO                                            CA                                 94947          Single Family
           16166232                       0                       0.25                                            6.125          NORTHVILLE                                        MI                                 48168          Condominium
           16166234                       0                       0.25                                            5.875          PLACENTIA                                         CA                                 92870          PUD
           16166235                       0                       0.25                                              5.5          IRVINE                                            CA                                 92620          PUD
           16166237                       0                       0.25                                            6.875          BRISTOW                                           VA                                 20136          PUD
           16166238                       0                       0.25                                            5.625          DANVILLE                                          CA                                 94506          Single Family
           16166245                       0                       0.25                                             6.25          BRADENTON                                         FL                                 34202          Condominium
           16166247                       0                       0.25                                             6.75          HIXSON                                            TN                                 37343          Single Family
           16166249                       0                       0.25                                            5.875          CHULA VISTA                                       CA                                 91915          Condominium
           16166255                       0                       0.25                                              6.5          LOS ANGELES                                       CA                                 90013          Condominium
           16166267                       0                       0.25                                            6.125          LADERA RANCH                                      CA                                 92694          Condominium
           16166069                       0                       0.25                                             5.75          IRVINE                                            CA                                 92620          Condominium
           16166074                       0                       0.25                                                6          LOS ANGELES                                       CA                                 90013          Condominium
           16166083                       0                       0.25                                             6.25          SAN JOSE                                          CA                                 95125          Condominium
           16166092                       0                       0.25                                                7          CARROLLTON                                        VA                                 23314          PUD
               2026                   0.000                      0.252                                            6.224

           LOAN_SEQ                          MATURITY_DATE                         ORIGINAL_BALANCE                      FIRST_PAY_DATE                   LOAN_TO_VALUE           MI                                                  MERS_ID1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
           16046700                            20360201                                  223500                             20060301                        72.09999847          No MI
           16046701                            20360201                                  130400                             20060301                                 80          No MI
           16046702                            20360201                                  525000                             20060301                                 75          No MI
           16046703                            20360201                                  200000                             20060301                                 80          No MI
           16046704                            20360101                                  528000                             20060201                                 80          No MI
           16046705                            20360101                                  161836                             20060201                                 80          No MI
           16046706                            20360201                                  449000                             20060301                        69.18000031          No MI
           16046707                            20360201                                  905000                             20060301                        56.56000137          No MI
           16046708                            20360201                                  636000                             20060301                                 80          No MI
           16046709                            20360201                                  314121                             20060301                                 80          No MI
           16046710                            20360201                                  174400                             20060301                                 80          No MI
           16046712                            20360201                                  195300                             20060301                                 70          No MI
           16046713                            20360201                                  487500                             20060301                                 75          No MI
           16046714                            20360101                                  505000                             20060201                        74.69999695          No MI
           16046715                            20360201                                  750000                             20060301                        78.94999695          No MI
           16046482                            20350901                                  701600                             20051001                        79.91000366          No MI
           16046498                            20351201                                  788000                             20060101                                 80          No MI
           16046505                            20350701                                  344000                             20050801                        70.93000031          No MI
           16046511                            20360101                                  785000                             20060201                        69.77999878          No MI
           16046514                            20360101                                  880000                             20060201                        76.51999664          No MI
           16046521                            20351201                                 1409600                             20060101                        79.98000336          No MI
           16046541                            20360101                                  447200                             20060201                                 80          No MI
           16046546                            20360101                                  525000                             20060201                                 75          No MI
           16046550                            20360101                                  570000                             20060201                                 75          No MI
           16046562                            20351201                                  340016                             20060101                                 80          No MI
           16046570                            20360101                                  260000                             20060201                                 80          No MI
           16046579                            20360101                                  512000                             20060201                                 80          No MI
           16046587                            20360101                                  856000                             20060201                                 80          No MI
           16046597                            20360101                                  201875                             20060201                                 85          United Guaranty
           16046606                            20360101                                  475000                             20060201                        59.00999832          No MI
           16046615                            20360101                                  424000                             20060201                        79.94000244          No MI
           16046618                            20360101                                  670000                             20060201                        49.63000107          No MI
           16046644                            20360101                                  434000                             20060201                        60.70000076          No MI
           16046645                            20360101                                  719110                             20060201                                 80          No MI
           16046646                            20350901                                  499500                             20051001                        89.83999634          PMI
           16046648                            20351101                                  431020                             20051201                                 80          No MI
           16046649                            20350801                                  560000                             20050901                        74.66999817          No MI
           16046651                            20360201                                  696400                             20060301                                 80          No MI
           16046655                            20360101                                  562500                             20060201                                 75          No MI
           16046663                            20360101                                 1304000                             20060201                                 80          No MI
           16046673                            20350501                                  245600                             20050601                                 80          No MI
           16046675                            20360101                                 2800000                             20060201                        58.33000183          No MI
           16046682                            20350601                                  350000                             20050701                        59.83000183          No MI
           16046693                            20360101                                  508000                             20060201                        74.37999725          No MI
           16046698                            20360101                                 1700000                             20060201                        73.91000366          No MI
           16046711                            20350901                                  660000                             20051001                                 80          No MI
           16046720                            20360101                                  480000                             20060201                                 80          No MI
           16046729                            20350201                                  323595                             20050301                        79.30999756          No MI
           16046730                            20351201                                  560000                             20060101                                 80          No MI
           16046738                            20350101                                  486000                             20050201                        62.31000137          No MI
           16046747                            20360101                                  440000                             20060201                                 80          No MI
           16046763                            20360101                                  438750                             20060201                                 75          No MI
           16046766                            20350801                                  290500                             20050901                                 70          No MI
           16046767                            20350901                                  525000                             20051001                        56.75999832          No MI
           16046768                            20360101                                  297000                             20060201                               67.5          No MI
           16046770                            20360101                                  260000                             20060201                        52.13000107          No MI
           16046771                            20351201                                 1350000                             20060101                        64.29000092          No MI
           16046773                            20350701                                  206000                             20050801                        39.68999863          No MI
           16046779                            20350601                                  275000                             20050701                        46.22000122          No MI
           16046782                            20360101                                  551500                             20060201                        56.56000137          No MI
           16046807                            20351201                                  675924                             20060101                        54.95000076          No MI
           16046815                            20360101                                 1000000                             20060201                        54.04999924          No MI
           16046821                            20360101                                  144000                             20060201                                 80          No MI
           16046826                            20351201                                  336000                             20060101                        38.84000015          No MI
           16046739                            20360201                                  500000                             20060301                        78.73999786          No MI
           16046740                            20360201                                 1430000                             20060301                                 65          No MI
           16046741                            20360101                                  432000                             20060201                                 80          No MI
           16046742                            20360201                                  483750                             20060301                                 75          No MI
           16046743                            20360201                                  352000                             20060301                                 80          No MI
           16046744                            20360201                                  144000                             20060301                                 80          No MI
           16046746                            20360101                                  208000                             20060201                                 80          No MI
           16046748                            20360101                                  975000                             20060201                                 75          No MI
           16046750                            20360101                                  493100                             20060201                        58.70000076          No MI
           16046751                            20360201                                  220000                             20060301                                 80          No MI
           16046752                            20360101                                  488000                             20060201                                 80          No MI
           16046753                            20360201                                  496000                             20060301                                 80          No MI
           16046754                            20360101                                  687629                             20060201                                 80          No MI
           16046755                            20360101                                  450000                             20060201                        73.76999664          No MI
           16046756                            20360201                                  226000                             20060301                        68.48000336          No MI
           16046759                            20360201                                  212000                             20060301                        73.09999847          No MI
           16046760                            20360201                                  720000                             20060301                                 80          No MI
           16046761                            20360201                                  201400                             20060301                        79.91999817          No MI
           16046762                            20360201                                  109200                             20060301                                 80          No MI
           16046764                            20360101                                  464000                             20060201                        68.73999786          No MI
           16046765                            20360201                                  259960                             20060301                                 80          No MI
           16046769                            20360101                                  650000                             20060201                        74.29000092          No MI
           16046772                            20360201                                  578800                             20060301                                 80          No MI
           16046774                            20360101                                  520000                             20060201                        63.40999985          No MI
           16046775                            20360201                                  250000                             20060301                        77.63999939          No MI
           16046776                            20360201                                  550000                             20060301                                 50          No MI
           16046777                            20360201                                  407550                             20060301                                 65          No MI
           16046778                            20360201                                  600000                             20060301                                 75          No MI
           16046780                            20360201                                  417000                             20060301                        79.43000031          No MI
           16046781                            20360101                                  398000                             20060201                        66.33000183          No MI
           16046784                            20360201                                  616800                             20060301                                 80          No MI
           16046785                            20360101                                  565000                             20060201                        76.34999847          No MI
           16046786                            20360201                                 1840000                             20060301                                 80          No MI
           16046787                            20360201                                  999000                             20060301                        71.36000061          No MI
           16046788                            20360201                                  104000                             20060301                                 80          No MI
           16046789                            20360101                                 1000000                             20060201                                 40          No MI
           16046790                            20360101                                   56880                             20060201                                 80          No MI
           16046791                            20360201                                  364000                             20060301                        78.27999878          No MI
           16046792                            20360201                                  360000                             20060301                                 80          No MI
           16046793                            20360201                                  725000                             20060301                        64.44000244          No MI
           16046794                            20360201                                  140000                             20060301                                 80          No MI
           16046796                            20360101                                  615000                             20060201                        66.48999786          No MI
           16046797                            20360201                                  479600                             20060301                        71.05000305          No MI
           16046798                            20360101                                  554500                             20060201                        75.95999908          No MI
           16046799                            20360201                                  163000                             20060301                        58.20999908          No MI
           16046800                            20360201                                  650000                             20060301                        75.66999817          No MI
           16046801                            20360201                                 1000000                             20060301                        63.49000168          No MI
           16046802                            20360201                                  524600                             20060301                                 80          No MI
           16046803                            20360201                                  176647                             20060301                                 80          No MI
           16046804                            20360201                                  368200                             20060301                        50.79000092          No MI
           16046805                            20360201                                  121200                             20060301                                 80          No MI
           16046806                            20360201                                  228000                             20060301                                 80          No MI
           16046808                            20360201                                  127200                             20060301                                 80          No MI
           16046809                            20360201                                  234000                             20060301                        69.84999847          No MI
           16046810                            20360101                                  684000                             20060201                        64.52999878          No MI
           16046811                            20360201                                  468000                             20060301                                 80          No MI
           16046812                            20360201                                   84800                             20060301                                 80          No MI
           16046813                            20360201                                  178800                             20060301                                 80          No MI
           16046814                            20360101                                  700000                             20060201                        37.84000015          No MI
           16046817                            20360201                                  299920                             20060301                                 80          No MI
           16046818                            20360201                                  489600                             20060301                                 80          No MI
           16046819                            20360201                                  182400                             20060301                                 80          No MI
           16046820                            20360201                                  585000                             20060301                        60.18999863          No MI
           16046822                            20360201                                  490000                             20060301                                 70          No MI
           16046823                            20360101                                  265000                             20060201                        60.22999954          No MI
           16046824                            20360201                                  600000                             20060301                                 75          No MI
           16046825                            20360101                                  350000                             20060201                        78.12999725          No MI
           16046827                            20360101                                  358376                             20060201                                 80          No MI
           16046716                            20360201                                  152000                             20060301                                 80          No MI
           16046718                            20360201                                  548000                             20060301                                 80          No MI
           16046719                            20360101                                  850000                             20060201                        66.41000366          No MI
           16046721                            20360201                                  316000                             20060301                                 80          No MI
           16046722                            20360101                                  647046                             20060201                        57.77000046          No MI
           16046723                            20360101                                  606018                             20060201                                 75          No MI
           16046724                            20360201                                  600000                             20060301                        68.56999969          No MI
           16046725                            20360201                                  112000                             20060301                                 70          No MI
           16046726                            20360201                                  183000                             20060301                        34.52999878          No MI
           16046727                            20360201                                  194420                             20060301                                 80          No MI
           16046728                            20360201                                  143200                             20060301                                 80          No MI
           16046731                            20360201                                  560000                             20060301                                 80          No MI
           16046732                            20360201                                  110840                             20060301                                 80          No MI
           16046733                            20360201                                  665000                             20060301                        76.87999725          No MI
           16046734                            20360201                                  487000                             20060301                        56.95999908          No MI
           16046736                            20360101                                  500000                             20060201                        68.04000092          No MI
           16046737                            20360201                                  177600                             20060301                                 80          No MI
           16046465                            20360101                                  461783                             20060201                        40.15999985          No MI
           16046466                            20360101                                 1000000                             20060201                        70.41999817          No MI
           16046467                            20360101                                  300000                             20060201                                 80          No MI
           16046468                            20360201                                  228000                             20060301                                 80          No MI
           16046469                            20360101                                  184720                             20060201                                 80          No MI
           16046470                            20360201                                  196000                             20060301                                 80          No MI
           16046471                            20360201                                  368000                             20060301                                 80          No MI
           16046472                            20360201                                   84000                             20060301                                 80          No MI
           16046473                            20360201                                  469500                             20060301                        79.98000336          No MI
           16046474                            20360201                                  198351                             20060301                        49.59000015          No MI
           16046475                            20360101                                   45000                             20060201                                 90          United Guaranty
           16046476                            20360201                                  135160                             20060301                                 80          No MI
           16046477                            20360201                                  500000                             20060301                        32.25999832          No MI
           16046478                            20360101                                  559400                             20060201                        65.80999756          No MI
           16046479                            20360101                                  496000                             20060201                                 80          No MI
           16046480                            20360201                                  600000                             20060301                                 80          No MI
           16046481                            20360201                                  244800                             20060301                                 80          No MI
           16046483                            20360201                                  423200                             20060301                                 80          No MI
           16046485                            20360201                                  658000                             20060301                        57.97000122          No MI
           16046486                            20360201                                  757500                             20060301                                 75          No MI
           16046487                            20360101                                  299999                             20060201                                 80          No MI
           16046488                            20360101                                  375500                             20060201                        50.06999969          No MI
           16046489                            20360201                                  503250                             20060301                                 75          No MI
           16046491                            20360201                                  370300                             20060301                        79.98999786          No MI
           16046492                            20360201                                  132000                             20060301                                 80          No MI
           16046493                            20360201                                  750000                             20060301                        58.45999908          No MI
           16046494                            20360201                                  206250                             20060301                                 75          No MI
           16046496                            20360201                                  169600                             20060301                                 80          No MI
           16046497                            20360201                                  468750                             20060301                                 75          No MI
           16046499                            20360101                                  441000                             20060201                               73.5          No MI
           16046500                            20360201                                  600000                             20060301                        76.91999817          No MI
           16046501                            20360201                                  171780                             20060301                                 80          No MI
           16046502                            20360201                                  150000                             20060301                              18.75          No MI
           16046503                            20360201                                  242000                             20060301                        78.05999756          No MI
           16046506                            20360101                                  500000                             20060201                                 80          No MI
           16046507                            20360201                                  325000                             20060301                                 79          No MI
           16046508                            20360101                                  460000                             20060201                                 80          No MI
           16046509                            20360201                                  243695                             20060301                        79.90000153          No MI
           16046510                            20360201                                  165000                             20060301                                 80          No MI
           16046512                            20360201                                  950000                             20060301                        61.29000092          No MI
           16046513                            20360201                                  615500                             20060301                        76.94000244          No MI
           16046515                            20360201                                  266000                             20060301                                 70          No MI
           16046516                            20360201                                  241500                             20060301                                 80          No MI
           16046517                            20360201                                  399200                             20060301                                 80          No MI
           16046518                            20360201                                  454934                             20060301                                 80          No MI
           16046519                            20360201                                  128000                             20060301                                 80          No MI
           16046520                            20360201                                  465000                             20060301                        69.91999817          No MI
           16046522                            20360101                                  524500                             20060201                        65.16000366          No MI
           16046524                            20360101                                  279920                             20060201                                 80          No MI
           16046643                            20360201                                  910000                             20060301                        47.27000046          No MI
           16046647                            20360201                                  195000                             20060301                                 75          No MI
           16046650                            20360201                                  427500                             20060301                                 75          No MI
           16046652                            20360201                                  448000                             20060301                                 80          No MI
           16046653                            20360101                                  220000                             20060201                        77.19000244          No MI
           16046654                            20360201                                  596000                             20060301                                 80          No MI
           16046656                            20360201                                  440000                             20060301                                 80          No MI
           16046657                            20360101                                  470000                             20060201                        73.44000244          No MI
           16046658                            20360201                                  483000                             20060301                        65.44999695          No MI
           16046659                            20360101                                  584000                             20060201                                 80          No MI
           16046660                            20360101                                  507500                             20060201                        69.27999878          No MI
           16046661                            20360201                                  175920                             20060301                                 80          No MI
           16046662                            20360201                                   85600                             20060301                                 80          No MI
           16046664                            20360201                                  249500                             20060301                        77.97000122          No MI
           16046665                            20360201                                 1500000                             20060301                        55.56000137          No MI
           16046666                            20360201                                  543750                             20060301                                 75          No MI
           16046667                            20360201                                  328000                             20060301                                 80          No MI
           16046669                            20360201                                  122000                             20060301                                 80          No MI
           16046670                            20360201                                  283920                             20060301                                 80          No MI
           16046671                            20360201                                  395000                             20060301                        24.69000053          No MI
           16046672                            20360101                                 1381500                             20060201                        53.13000107          No MI
           16046674                            20360201                                  529000                             20060301                        50.38000107          No MI
           16046676                            20360201                                  500500                             20060301                        78.81999969          No MI
           16046678                            20360201                                  151600                             20060301                                 80          No MI
           16046679                            20360201                                  291920                             20060301                                 80          No MI
           16046680                            20360201                                  342000                             20060301                                 80          No MI
           16046683                            20360101                                  488000                             20060201                        51.90999985          No MI
           16046684                            20360201                                  738506                             20060301                        59.79999924          No MI
           16046685                            20360101                                  408000                             20060201                                 80          No MI
           16046686                            20360101                                  516000                             20060201                        64.91000366          No MI
           16046687                            20360201                                  144000                             20060301                                 80          No MI
           16046688                            20360201                                  119920                             20060301                                 80          No MI
           16046689                            20360201                                  600000                             20060301                        64.09999847          No MI
           16046690                            20360101                                  457000                             20060201                        69.23999786          No MI
           16046691                            20360201                                   64225                             20060301                                 70          No MI
           16046692                            20360201                                  288000                             20060301                                 80          No MI
           16046694                            20360201                                  480000                             20060301                        78.69000244          No MI
           16046695                            20360201                                  168435                             20060301                                 80          No MI
           16046697                            20360101                                  385000                             20060201                              65.25          No MI
           16046699                            20360201                                  199000                             20060301                        79.91999817          No MI
           16046598                            20360201                                 1365000                             20060301                                 70          No MI
           16046600                            20360201                                   52800                             20060301                                 80          No MI
           16046601                            20360201                                  730000                             20060301                        73.73999786          No MI
           16046602                            20360201                                  190000                             20060301                        79.94999695          No MI
           16046603                            20360201                                  588000                             20060301                                 80          No MI
           16046604                            20360101                                  800000                             20060201                        61.54000092          No MI
           16046605                            20360101                                  303750                             20060201                                 75          No MI
           16046607                            20360101                                  554250                             20060201                                 75          No MI
           16046608                            20360201                                  920000                             20060301                                 80          No MI
           16046609                            20360201                                  157000                             20060301                        57.93000031          No MI
           16046610                            20360201                                  273829                             20060301                                 62          No MI
           16046612                            20360101                                  582000                             20060201                              72.75          No MI
           16046613                            20360201                                  216000                             20060301                                 80          No MI
           16046614                            20360201                                  171400                             20060301                        79.98000336          No MI
           16046616                            20360201                                  157756                             20060301                                 80          No MI
           16046617                            20360101                                  955000                             20060201                        64.52999878          No MI
           16046619                            20360201                                  371296                             20060301                                 80          No MI
           16046620                            20360101                                  467000                             20060201                        62.68000031          No MI
           16046621                            20360101                                  580000                             20060201                                 80          No MI
           16046622                            20360201                                  300000                             20060301                                 80          No MI
           16046623                            20360101                                  461792                             20060201                                 80          No MI
           16046624                            20360201                                  248000                             20060301                                 80          No MI
           16046625                            20360201                                  400000                             20060301                        73.38999939          No MI
           16046626                            20360101                                  528000                             20060201                                 80          No MI
           16046627                            20360101                                  528000                             20060201                                 80          No MI
           16046628                            20360201                                  149600                             20060301                                 80          No MI
           16046629                            20360201                                  580000                             20060301                                 80          No MI
           16046630                            20360101                                  424000                             20060201                                 80          No MI
           16046631                            20360101                                   76800                             20060201                                 80          No MI
           16046632                            20360201                                  232000                             20060301                                 80          No MI
           16046634                            20360201                                  347956                             20060301                                 80          No MI
           16046635                            20360201                                   96000                             20060301                                 80          No MI
           16046637                            20360201                                  460000                             20060301                        79.87000275          No MI
           16046638                            20360201                                  227000                             20060301                        51.95000076          No MI
           16046639                            20360201                                  204000                             20060301                                 80          No MI
           16046640                            20360201                                  445000                             20060301                        75.41999817          No MI
           16046641                            20360101                                  637500                             20060201                                 75          No MI
           16046642                            20360201                                  256700                             20060301                        47.70999908          No MI
           16046525                            20360101                                  437000                             20060201                        53.54999924          No MI
           16046526                            20360201                                  144000                             20060301                                 80          No MI
           16046527                            20360201                                  860000                             20060301                        47.77999878          No MI
           16046528                            20360101                                  550000                             20060201                              68.75          No MI
           16046529                            20360201                                  412500                             20060301                        51.56000137          No MI
           16046530                            20360101                                  560000                             20060201                                 80          No MI
           16046531                            20360201                                  648000                             20060301                                 90          Radian Guaranty
           16046532                            20360201                                  150000                             20060301                        59.02999878          No MI
           16046533                            20360201                                  480000                             20060301                                 80          No MI
           16046534                            20360201                                  132000                             20060301                                 80          No MI
           16046535                            20360201                                  192000                             20060301                                 80          No MI
           16046536                            20360201                                  174400                             20060301                                 80          No MI
           16046537                            20360201                                  250000                             20060301                        79.37000275          No MI
           16046538                            20360101                                  205000                             20060201                        68.33000183          No MI
           16046540                            20360201                                  615000                             20060301                                 75          No MI
           16046542                            20360101                                  520000                             20060201                                 80          No MI
           16046543                            20360101                                  700000                             20060201                        37.84000015          No MI
           16046544                            20360201                                  535600                             20060301                                 80          No MI
           16046545                            20360101                                  144000                             20060201                                 80          No MI
           16046547                            20360201                                  648000                             20060301                                 80          No MI
           16046548                            20360101                                  424000                             20060201                                 80          No MI
           16046549                            20360201                                  200000                             20060301                                 80          No MI
           16046551                            20360201                                  650000                             20060301                        56.41999817          No MI
           16046553                            20360101                                  500000                             20060201                        79.55000305          No MI
           16046555                            20360201                                  427000                             20060301                                 70          No MI
           16046557                            20360201                                  204000                             20060301                                 80          No MI
           16046558                            20360201                                  730000                             20060301                                 73          No MI
           16046559                            20360201                                  684000                             20060301                                 80          No MI
           16046560                            20360101                                   88000                             20060201                                 80          No MI
           16046561                            20360201                                  250000                             20060301                        50.31999969          No MI
           16046563                            20360101                                  532394                             20060201                        60.84999847          No MI
           16046564                            20360101                                  478280                             20060201                                 80          No MI
           16046565                            20360201                                  138400                             20060301                                 80          No MI
           16046566                            20360201                                   69700                             20060301                                 85          Republic MIC
           16046567                            20360201                                  447920                             20060301                                 80          No MI
           16046568                            20360101                                  523500                             20060201                        68.87999725          No MI
           16046572                            20360201                                  194850                             20060301                                 90          GE Capital MI
           16046573                            20360101                                  603920                             20060201                                 80          No MI
           16046574                            20360201                                  194000                             20060301                        79.47000122          No MI
           16046575                            20360101                                  650000                             20060201                        61.90000153          No MI
           16046576                            20360201                                  233635                             20060301                                 80          No MI
           16046578                            20360101                                  547000                             20060201                        51.70000076          No MI
           16046580                            20360201                                  143016                             20060301                                 80          No MI
           16046581                            20360201                                  200208                             20060301                                 80          No MI
           16046582                            20360201                                  150000                             20060301                        20.11000061          No MI
           16046583                            20360201                                  452712                             20060301                                 80          No MI
           16046584                            20360101                                  999999                             20060201                        43.47999954          No MI
           16046585                            20360101                                  999000                             20060201                        68.90000153          No MI
           16046588                            20360201                                  140000                             20060301                                 80          No MI
           16046591                            20360101                                  198160                             20060201                                 80          No MI
           16046592                            20360101                                 2837324                             20060201                        70.93000031          No MI
           16046593                            20360201                                  146320                             20060301                                 80          No MI
           16046594                            20360201                                  220400                             20060301                                 80          No MI
           16046595                            20360201                                  748000                             20060301                        68.62000275          No MI
           16046596                            20360201                                  400000                             20060301                                 80          No MI
           16127503                            20360101                                  264190                             20060201                        75.69999695          No MI
           16127504                            20360101                                  124800                             20060201                        59.70999908          No MI
           16127506                            20360101                                  164000                             20060201                                 80          No MI
           16127507                            20360101                                  164000                             20060201                                 80          No MI
           16127508                            20360101                                  275000                             20060201                        71.43000031          No MI
           16127509                            20360101                                  351000                             20060201                        74.68000031          No MI
           16127510                            20360201                                  248005                             20060301                                 80          No MI
           16127511                            20360201                                  350000                             20060301                        76.86000061          No MI
           16127512                            20360201                                  192944                             20060301                        57.08000183          No MI
           16127513                            20351201                                  291000                             20060101                        69.29000092          No MI
           16127514                            20360101                                  155297                             20060201                                 80          No MI
           16127515                            20360101                                  165615                             20060201                                 90          PMI
           16127516                            20360201                                  162600                             20060301                                 75          No MI
           16127517                            20350401                                  115200                             20050501                                 80          No MI
           16127518                            20360201                                  312000                             20060301                                 80          No MI
           16127519                            20360101                                  107635                             20060201                                 47          No MI
           16127520                            20360101                                  308000                             20060201                                 80          No MI
           16127521                            20360301                                  604000                             20060401                                 80          No MI
           16127522                            20360201                                  310000                             20060301                               77.5          No MI
           16127523                            20360101                                   37800                             20060201                                 90          Radian Guaranty
           16127524                            20360201                                  263047                             20060301                        45.13000107          No MI
           16127525                            20360201                                  122590                             20060301                        36.02999878          No MI
           16127526                            20360201                                  416000                             20060301                                 80          No MI
           16127527                            20360101                                  296240                             20060201                                 80          No MI
           16127528                            20360101                                  136800                             20060201                                 90          Radian Guaranty
           16127529                            20360101                                  623000                             20060201                        75.23999786          No MI
           16127530                            20360201                                  188450                             20060301                                 95          GE Capital MI
           16127532                            20360201                                  650000                             20060301                        78.30999756          No MI
           16127533                            20360201                                  142000                             20060301                        50.70999908          No MI
           16127534                            20360201                                  165827                             20060301                                 80          No MI
           16127547                            20351201                                  189905                             20060101                                 95          Mortgage Guaranty In
           16127548                            20360101                                  316403                             20060201                        65.91999817          No MI
           16127550                            20350201                                  120320                             20050301                                 80          No MI
           16127551                            20360101                                  199100                             20060201                        79.91000366          No MI
           16127552                            20360101                                  136000                             20060201                                 80          No MI
           16127553                            20350701                                  359650                             20050801                        78.19999695          No MI
           16127554                            20360101                                  182536                             20060201                        32.47999954          No MI
           16127555                            20360201                                  197763                             20060301                                 80          No MI
           16127556                            20360101                                  399000                             20060201                        79.80000305          No MI
           16127557                            20360101                                  357120                             20060201                                 80          No MI
           16127558                            20360101                                  206400                             20060201                        79.97000122          No MI
           16127559                            20360201                                  163992                             20060301                                 80          No MI
           16127560                            20360101                                   53900                             20060201                                 70          No MI
           16127561                            20360101                                  176000                             20060201                        78.22000122          No MI
           16127562                            20351201                                  136800                             20060101                                 80          No MI
           16127563                            20360201                                  399700                             20060301                                 70          No MI
           16127565                            20360101                                  128000                             20060201                                 80          No MI
           16127566                            20351201                                  215591                             20060101                                 80          No MI
           16127567                            20360201                                  292000                             20060301                        61.86000061          No MI
           16127568                            20360101                                  155520                             20060201                                 80          No MI
           16127569                            20360101                                   61156                             20060201                        71.11000061          No MI
           16127570                            20360101                                  202720                             20060201                                 80          No MI
           16127571                            20360101                                  300000                             20060201                        23.53000069          No MI
           16127572                            20360101                                  243105                             20060201                                 95          PMI
           16127573                            20360201                                  310000                             20060301                                 62          No MI
           16127574                            20360101                                  140580                             20060201                        78.79000092          No MI
           16127575                            20360201                                   89900                             20060301                                 80          No MI
           16127576                            20360201                                  215000                             20060301                        58.90000153          No MI
           16127577                            20351201                                  306090                             20060101                                 90          GE Capital MI
           16127578                            20360201                                  223920                             20060301                                 80          No MI
           16127541                            20360101                                  290000                             20060201                        63.84999847          No MI
           16127542                            20360101                                  273132                             20060201                                 80          No MI
           16127543                            20360201                                  166880                             20060301                                 80          No MI
           16127544                            20350701                                  174000                             20050801                                 80          No MI
           16127545                            20360201                                  223991                             20060301                                 80          No MI
           16127546                            20360101                                   84000                             20060201                                 70          No MI
           16127535                            20360201                                  260000                             20060301                                 80          No MI
           16127536                            20360301                                  331200                             20060401                        79.97000122          No MI
           16127537                            20360101                                  106200                             20060201                                 90          GE Capital MI
           16127538                            20360101                                  130000                             20060201                        57.77999878          No MI
           16127539                            20351001                                   49600                             20051101                                 80          No MI
           16127540                            20360201                                  183634                             20060301                                 80          No MI
           16127499                            20350801                                  372000                             20050901                        79.15000153          No MI
           16127500                            20151201                                   53000                             20060101                        19.43000031          No MI
           16127501                            20360101                                  151964                             20060201                                 80          No MI
           16127502                            20360101                                  125000                             20060201                        37.88999939          No MI
           16048088                            20360201                                  510000                             20060301                                 75          No MI                                               1.00E+17
           16047971                            20351201                                  440000                             20060101                        56.77000046          No MI                                               1.00E+17
           16047977                            20360101                                  492000                             20060201                        74.88999939          No MI                                               1.00E+17
           16047989                            20360101                                  650000                             20060201                        74.06999969          No MI                                               1.00E+17
           16047990                            20360101                                  472000                             20060201                        79.98999786          No MI                                               1.00E+17
           16047991                            20360101                                  495900                             20060201                                 80          No MI                                               1.00E+17
           16047992                            20360101                                  620000                             20060201                        79.38999939          No MI                                               1.00E+17
           16047994                            20360101                                  441200                             20060201                        79.94999695          No MI                                               1.00E+17
           16048002                            20360101                                  751784                             20060201                                 80          No MI                                               1.00E+17
           16048004                            20351001                                  492000                             20051101                                 80          No MI                                               1.00E+17
           16048006                            20360101                                  620900                             20060201                        89.98999786          Triad Guaranty                                      1.00E+17
           16048008                            20360101                                  421952                             20060201                                 80          No MI                                               1.00E+17
           16048012                            20360201                                  489000                             20060301                        67.91999817          No MI                                               1.00E+17
           16048014                            20360201                                  650000                             20060301                              79.75          No MI                                               1.00E+17
           16048015                            20360101                                  547900                             20060201                        79.98999786          No MI                                               1.00E+17
           16048018                            20360201                                  650000                             20060301                        75.13999939          No MI                                               1.00E+17
           16048019                            20360201                                  724541                             20060301                                 80          No MI                                               1.00E+17
           16048020                            20360201                                  871500                             20060301                        79.23000336          No MI                                               1.00E+17
           16048021                            20360101                                  516740                             20060201                        72.09999847          No MI                                               1.00E+17
           16048024                            20360101                                  750000                             20060201                               62.5          No MI                                               1.00E+17
           16048033                            20351201                                  580000                             20060101                                 80          No MI                                               1.00E+17
           16048037                            20360201                                  602250                             20060301                        79.98999786          No MI                                               1.00E+17
           16048045                            20360201                                  472000                             20060301                                 80          No MI                                               1.00E+17
           16048046                            20360201                                  650000                             20060301                        67.36000061          No MI                                               1.00E+17
           16048048                            20360201                                  768000                             20060301                                 80          No MI                                               1.00E+17
           16048049                            20360201                                  853600                             20060301                                 80          No MI                                               1.00E+17
           16048050                            20360201                                  540000                             20060301                        72.97000122          No MI                                               1.00E+17
           16048068                            20360201                                  563200                             20060301                                 80          No MI                                               1.00E+17
           16048082                            20360301                                  471000                             20060401                        54.45000076          No MI                                               1.00E+17
           16047965                            20360201                                  600384                             20060301                                 80          No MI                                               1.00E+17
           16047967                            20350801                                  302800                             20050901                                 80          No MI                                               1.00E+17
           16047968                            20351001                                  444800                             20051101                                 80          No MI                                               1.00E+17
           16047970                            20360101                                  485000                             20060201                        75.77999878          No MI                                               1.00E+17
           16047972                            20360101                                  455000                             20060201                                 70          No MI                                               1.00E+17
           16047973                            20360101                                  480000                             20060201                                 80          No MI                                               1.00E+17
           16047976                            20360201                                  428215                             20060301                                 80          No MI                                               1.00E+17
           16047978                            20360101                                 1000000                             20060201                        62.34000015          No MI                                               1.00E+17
           16047980                            20360201                                  502100                             20060301                        79.98999786          No MI                                               1.00E+17
           16047983                            20360201                                  516777                             20060301                                 80          No MI                                               1.00E+17
           16047984                            20360201                                  516105                             20060301                                 80          No MI                                               1.00E+17
           16047985                            20360201                                  940000                             20060301                                 80          No MI                                               1.00E+17
           16047987                            20360201                                  452950                             20060301                        79.98999786          No MI                                               1.00E+17
           16047988                            20360101                                  940000                             20060201                                 80          No MI                                               1.00E+17
           16047993                            20360101                                  480000                             20060201                        66.20999908          No MI                                               1.00E+17
           16047995                            20360201                                  602000                             20060301                                 70          No MI                                               1.00E+17
           16047996                            20360101                                  535686                             20060201                                 74          No MI                                               1.00E+17
           16047997                            20360101                                  442515                             20060201                        74.68000031          No MI                                               1.00E+17
           16047998                            20360101                                  800000                             20060201                                 50          No MI                                               1.00E+17
           16047999                            20360101                                  543120                             20060201                                 80          No MI                                               1.00E+17
           16048000                            20360101                                  588000                             20060201                                 80          No MI                                               1.00E+17
           16048001                            20360101                                  476000                             20060201                                 80          No MI                                               1.00E+17
           16048003                            20360201                                  431900                             20060301                                 80          No MI                                               1.00E+17
           16048005                            20360101                                  578044                             20060201                                 80          No MI                                               1.00E+17
           16048007                            20360101                                  462300                             20060201                        79.98999786          No MI                                               1.00E+17
           16048009                            20360201                                  630000                             20060301                        77.30000305          No MI                                               1.00E+17
           16048010                            20360101                                  438200                             20060201                        79.98999786          No MI                                               1.00E+17
           16048011                            20360201                                  448000                             20060301                                 80          No MI                                               1.00E+17
           16048013                            20360201                                  640000                             20060301                                 80          No MI                                               1.00E+17
           16048016                            20351101                                  535050                             20051201                                 90          Republic MIC                                        1.00E+17
           16048017                            20360201                                  864500                             20060301                        74.98999786          No MI                                               1.00E+17
           16048022                            20360201                                  563200                             20060301                                 80          No MI                                               1.00E+17
           16048023                            20360201                                  550000                             20060301                        64.70999908          No MI                                               1.00E+17
           16048025                            20360101                                  661800                             20060201                                 80          No MI                                               1.00E+17
           16048027                            20351001                                  431550                             20051101                        79.98999786          No MI                                               1.00E+17
           16048028                            20360201                                  539000                             20060301                                 70          No MI                                               1.00E+17
           16048029                            20360201                                  497000                             20060301                        79.87999725          No MI                                               1.00E+17
           16048030                            20360201                                  920000                             20060301                                 80          No MI                                               1.00E+17
           16048031                            20360201                                  649960                             20060301                                 80          No MI                                               1.00E+17
           16048032                            20360201                                  468000                             20060301                        75.73000336          No MI                                               1.00E+17
           16048034                            20360201                                  665000                             20060301                        67.16999817          No MI                                               1.00E+17
           16048035                            20360201                                  673800                             20060301                                 80          No MI                                               1.00E+17
           16048036                            20360301                                  431069                             20060401                                 80          No MI                                               1.00E+17
           16048039                            20360201                                  456000                             20060301                                 80          No MI                                               1.00E+17
           16048040                            20360201                                  460000                             20060301                                 80          No MI                                               1.00E+17
           16048041                            20360201                                  540036                             20060301                        64.29000092          No MI                                               1.00E+17
           16048042                            20360201                                  550000                             20060301                        78.70999908          No MI                                               1.00E+17
           16048043                            20360201                                  508000                             20060301                                 80          No MI                                               1.00E+17
           16048044                            20360201                                  560000                             20060301                                 80          No MI                                               1.00E+17
           16048047                            20360201                                  800000                             20060301                        25.80999947          No MI                                               1.00E+17
           16048051                            20360201                                  999999                             20060301                        65.79000092          No MI                                               1.00E+17
           16048052                            20360201                                  421200                             20060301                                 90          Republic MIC                                        1.00E+17
           16048053                            20360301                                  827000                             20060401                        73.34999847          No MI                                               1.00E+17
           16048054                            20360301                                  452745                             20060401                        78.73999786          No MI                                               1.00E+17
           16048055                            20360301                                  525000                             20060401                                 70          No MI                                               1.00E+17
           16048057                            20360301                                  510000                             20060401                        77.86000061          No MI                                               1.00E+17
           16048058                            20360201                                  452000                             20060301                                 80          No MI                                               1.00E+17
           16048059                            20360201                                  675000                             20060301                                 75          No MI                                               1.00E+17
           16048060                            20360301                                  999999                             20060401                        74.62999725          No MI                                               1.00E+17
           16048061                            20360301                                  539496                             20060401                                 80          No MI                                               1.00E+17
           16048063                            20360201                                  574000                             20060301                        52.18000031          No MI                                               1.00E+17
           16048064                            20360201                                  548000                             20060301                                 80          No MI                                               1.00E+17
           16048066                            20360201                                  535000                             20060301                        79.98999786          No MI                                               1.00E+17
           16048067                            20360201                                  584000                             20060301                                 80          No MI                                               1.00E+17
           16048070                            20360201                                  516000                             20060301                                 80          No MI                                               1.00E+17
           16048071                            20360201                                  700800                             20060301                                 80          No MI                                               1.00E+17
           16048072                            20360201                                  483000                             20060301                        72.08999634          No MI                                               1.00E+17
           16048073                            20360201                                  439960                             20060301                                 80          No MI                                               1.00E+17
           16048074                            20360301                                  432000                             20060401                                 80          No MI                                               1.00E+17
           16048075                            20360201                                  483460                             20060301                                 80          No MI                                               1.00E+17
           16048076                            20360201                                  760000                             20060301                        79.94000244          No MI                                               1.00E+17
           16048077                            20360201                                  573600                             20060301                        86.91000366          Republic MIC                                        1.00E+17
           16048078                            20360201                                  465000                             20060301                        72.66000366          No MI                                               1.00E+17
           16048079                            20360201                                  613000                             20060301                                 80          No MI                                               1.00E+17
           16048080                            20360201                                  491200                             20060301                                 80          No MI                                               1.00E+17
           16048081                            20360201                                  467606                             20060301                                 80          No MI                                               1.00E+17
           16048083                            20360301                                  686288                             20060401                                 80          No MI                                               1.00E+17
           16048084                            20350501                                  196000                             20050601                        60.31000137          No MI                                               1.00E+17
           16048086                            20360201                                  585000                             20060301                                 75          No MI                                               1.00E+17
           16048087                            20360201                                  999950                             20060301                        79.68000031          No MI                                               1.00E+17
           16166797                            20360401                                  680000                             20060501                                 80          No MI                                               1.00E+17
           16166649                            20360401                                  420000                             20060501                                 80          No MI                                               1.00E+17
           16166730                            20360401                                  799000                             20060501                        74.33000183          No MI                                               1.00E+17
           16166615                            20360401                                  650000                             20060501                        74.29000092          No MI                                               1.00E+17
           16166582                            20360401                                  825000                             20060501                                 75          No MI                                               1.00E+17
           16166471                            20360401                                  580000                             20060501                                 80          No MI                                               1.00E+17
           16166475                            20360401                                  640000                             20060501                                 80          No MI                                               1.00E+17
           16166437                            20360401                                  476000                             20060501                                 80          No MI                                               1.00E+17
           16166450                            20360401                                  748000                             20060501                                 68          No MI                                               1.00E+17
           16166320                            20360401                                  665000                             20060501                        77.33000183          No MI                                               1.00E+17
           16166337                            20360401                                  575765                             20060501                                 80          No MI                                               1.00E+17
           16166347                            20360401                                  940000                             20060501                                 80          No MI                                               1.00E+17
           16166275                            20360401                                 1000000                             20060501                        30.29999924          No MI                                               1.00E+17
           16166095                            20360301                                  711200                             20060401                                 80          No MI                                               1.00E+17
           16166097                            20360301                                  525000                             20060401                        63.63999939          No MI                                               1.00E+17
           16166101                            20360301                                  987047                             20060401                        78.95999908          No MI                                               1.00E+17
           16166119                            20360301                                  540000                             20060401                        77.13999939          No MI                                               1.00E+17
           16166120                            20360301                                  608000                             20060401                        65.37999725          No MI                                               1.00E+17
           16166134                            20360301                                  880000                             20060401                                 80          No MI                                               1.00E+17
           16166140                            20360401                                  560000                             20060501                                 80          No MI                                               1.00E+17
           16166146                            20360301                                  644000                             20060401                        67.79000092          No MI                                               1.00E+17
           16166150                            20360401                                  604850                             20060501                                 75          No MI                                               1.00E+17
           16166158                            20360201                                  500000                             20060301                        78.73999786          No MI                                               1.00E+17
           16166162                            20360301                                  800000                             20060401                                 80          No MI                                               1.00E+17
           16166165                            20360401                                  440000                             20060501                                 80          No MI                                               1.00E+17
           16166190                            20360401                                  672080                             20060501                                 80          No MI                                               1.00E+17
           16166191                            20360301                                  536000                             20060401                                 80          No MI                                               1.00E+17
           16166192                            20360401                                  455200                             20060501                                 80          No MI                                               1.00E+17
           16166250                            20360401                                  501274                             20060501                                 80          No MI                                               1.00E+17
           16166072                            20360301                                  639000                             20060401                        73.44999695          No MI                                               1.00E+17
           16166081                            20351001                                  450000                             20051101                        67.16000366          No MI                                               1.00E+17
           16166088                            20351001                                  500000                             20051101                        69.93000031          No MI                                               1.00E+17
           16166094                            20360301                                  907200                             20060401                                 70          No MI                                               1.00E+17
           16166794                            20360401                                  488000                             20060501                                 80          No MI                                               1.00E+17
           16166798                            20360401                                  500000                             20060501                        72.98999786          No MI                                               1.00E+17
           16166747                            20360401                                  580250                             20060501                        69.98999786          No MI                                               1.00E+17
           16166751                            20360401                                  447960                             20060501                                 80          No MI                                               1.00E+17
           16166754                            20360401                                  515000                             20060501                        79.83999634          No MI                                               1.00E+17
           16166759                            20360401                                  488000                             20060501                                 80          No MI                                               1.00E+17
           16166763                            20360401                                  484000                             20060501                                 80          No MI                                               1.00E+17
           16166766                            20360401                                  579200                             20060501                                 80          No MI                                               1.00E+17
           16166768                            20360401                                  708000                             20060501                                 80          No MI                                               1.00E+17
           16166769                            20360401                                  999999                             20060501                        70.31999969          No MI                                               1.00E+17
           16166771                            20360401                                  442000                             20060501                        78.93000031          No MI                                               1.00E+17
           16166734                            20360401                                 1455000                             20060501                                 60          No MI                                               1.00E+17
           16166735                            20360401                                  545231                             20060501                                 80          No MI                                               1.00E+17
           16166736                            20360401                                  541200                             20060501                                 80          No MI                                               1.00E+17
           16166738                            20360401                                  569400                             20060501                        79.98999786          No MI                                               1.00E+17
           16166631                            20360401                                  712000                             20060501                                 80          No MI                                               1.00E+17
           16166632                            20360401                                  443300                             20060501                        79.16000366          No MI                                               1.00E+17
           16166635                            20360401                                  704000                             20060501                                 80          No MI                                               1.00E+17
           16166642                            20360401                                  540000                             20060501                        72.77999878          No MI                                               1.00E+17
           16166644                            20360401                                  490122                             20060501                                 80          No MI                                               1.00E+17
           16166653                            20360401                                  550000                             20060501                        73.33000183          No MI                                               1.00E+17
           16166657                            20360401                                  720000                             20060501                                 80          No MI                                               1.00E+17
           16166662                            20360401                                  469000                             20060501                        79.62999725          No MI                                               1.00E+17
           16166665                            20360401                                  600000                             20060501                                 80          No MI                                               1.00E+17
           16166667                            20360401                                  537600                             20060501                                 80          No MI                                               1.00E+17
           16166680                            20360401                                  672000                             20060501                                 80          No MI                                               1.00E+17
           16166693                            20360401                                  600000                             20060501                                 80          No MI                                               1.00E+17
           16166694                            20360501                                  556000                             20060601                                 80          No MI                                               1.00E+17
           16166696                            20360401                                  600000                             20060501                        74.52999878          No MI                                               1.00E+17
           16166701                            20360401                                  984000                             20060501                                 80          No MI                                               1.00E+17
           16166703                            20360401                                  592248                             20060501                                 80          No MI                                               1.00E+17
           16166705                            20360401                                  920000                             20060501                                 80          No MI                                               1.00E+17
           16166713                            20360401                                  584000                             20060501                                 80          No MI                                               1.00E+17
           16166715                            20360401                                  577600                             20060501                                 80          No MI                                               1.00E+17
           16166719                            20360401                                  504000                             20060501                                 80          No MI                                               1.00E+17
           16166722                            20360401                                  528000                             20060501                                 80          No MI                                               1.00E+17
           16166584                            20360401                                  454000                             20060501                        63.06000137          No MI                                               1.00E+17
           16166587                            20360401                                  595717                             20060501                                 80          No MI                                               1.00E+17
           16166589                            20360401                                  724000                             20060501                                 80          No MI                                               1.00E+17
           16166590                            20360401                                  616000                             20060501                                 80          No MI                                               1.00E+17
           16166596                            20360401                                  646000                             20060501                                 68          No MI                                               1.00E+17
           16166598                            20360401                                  425000                             20060501                        69.95999908          No MI                                               1.00E+17
           16166602                            20360401                                  460000                             20060501                        73.59999847          No MI                                               1.00E+17
           16166604                            20360401                                  580000                             20060501                        61.66999817          No MI                                               1.00E+17
           16166605                            20360401                                  616000                             20060501                                 80          No MI                                               1.00E+17
           16166606                            20360401                                  788000                             20060501                                 80          No MI                                               1.00E+17
           16166609                            20360401                                  460000                             20060501                        48.41999817          No MI                                               1.00E+17
           16166611                            20360401                                  680000                             20060501                                 80          No MI                                               1.00E+17
           16166574                            20360401                                  515000                             20060501                        70.55000305          No MI                                               1.00E+17
           16166578                            20360401                                  452000                             20060501                                 80          No MI                                               1.00E+17
           16166456                            20360401                                  856000                             20060501                                 80          No MI                                               1.00E+17
           16166472                            20360401                                  448000                             20060501                                 80          No MI                                               1.00E+17
           16166473                            20360401                                  574000                             20060501                        67.52999878          No MI                                               1.00E+17
           16166476                            20360401                                  690000                             20060501                                 80          No MI                                               1.00E+17
           16166479                            20360401                                  608000                             20060501                                 80          No MI                                               1.00E+17
           16166481                            20360401                                  924000                             20060501                        78.63999939          No MI                                               1.00E+17
           16166482                            20360401                                  423992                             20060501                                 80          No MI                                               1.00E+17
           16166483                            20360401                                  426000                             20060501                        46.04999924          No MI                                               1.00E+17
           16166493                            20360401                                  976000                             20060501                        28.29000092          No MI                                               1.00E+17
           16166497                            20360401                                  450000                             20060501                                 60          No MI                                               1.00E+17
           16166498                            20360401                                  554400                             20060501                                 80          No MI                                               1.00E+17
           16166500                            20360401                                  464000                             20060501                        79.31999969          No MI                                               1.00E+17
           16166501                            20360401                                  968000                             20060501                                 80          No MI                                               1.00E+17
           16166504                            20360401                                  920000                             20060501                                 80          No MI                                               1.00E+17
           16166505                            20360401                                  570000                             20060501                                 80          No MI                                               1.00E+17
           16166510                            20360401                                  825969                             20060501                                 80          No MI                                               1.00E+17
           16166527                            20360401                                  716000                             20060501                                 80          No MI                                               1.00E+17
           16166528                            20360401                                  840000                             20060501                                 80          No MI                                               1.00E+17
           16166531                            20360401                                  423000                             20060501                        76.91000366          No MI                                               1.00E+17
           16166534                            20360401                                  736000                             20060501                                 80          No MI                                               1.00E+17
           16166535                            20360401                                  584000                             20060501                                 80          No MI                                               1.00E+17
           16166536                            20360401                                  476000                             20060501                                 80          No MI                                               1.00E+17
           16166542                            20360401                                  607500                             20060501                                 75          No MI                                               1.00E+17
           16166554                            20360401                                  508000                             20060501                                 80          No MI                                               1.00E+17
           16166555                            20360401                                  516000                             20060501                                 80          No MI                                               1.00E+17
           16166556                            20360401                                  672536                             20060501                                 80          No MI                                               1.00E+17
           16166563                            20360401                                  498300                             20060501                        76.66000366          No MI                                               1.00E+17
           16166570                            20360401                                  780000                             20060501                        71.88999939          No MI                                               1.00E+17
           16166413                            20360401                                  463200                             20060501                                 80          No MI                                               1.00E+17
           16166414                            20360401                                  628000                             20060501                                 80          No MI                                               1.00E+17
           16166415                            20360401                                  630600                             20060501                        79.81999969          No MI                                               1.00E+17
           16166416                            20360401                                  700000                             20060501                                 50          No MI                                               1.00E+17
           16166423                            20360401                                  776000                             20060501                                 80          No MI                                               1.00E+17
           16166424                            20360401                                  584000                             20060501                                 80          No MI                                               1.00E+17
           16166438                            20360401                                  676800                             20060501                                 80          No MI                                               1.00E+17
           16166440                            20360401                                  514600                             20060501                        79.98999786          No MI                                               1.00E+17
           16166329                            20360401                                540169.6                             20060501                                 80          No MI                                               1.00E+17
           16166345                            20360401                                  570000                             20060501                        76.51000214          No MI                                               1.00E+17
           16166350                            20360401                                  999999                             20060501                        47.61999893          No MI                                               1.00E+17
           16166354                            20360401                                  602000                             20060501                                 70          No MI                                               1.00E+17
           16166355                            20360401                                  500000                             20060501                                 80          No MI                                               1.00E+17
           16166356                            20360401                                  704000                             20060501                                 80          No MI                                               1.00E+17
           16166362                            20360401                                  496000                             20060501                                 80          No MI                                               1.00E+17
           16166363                            20360301                                  493600                             20060401                                 80          No MI                                               1.00E+17
           16166369                            20360401                                  820800                             20060501                                 80          No MI                                               1.00E+17
           16166370                            20360401                                  600000                             20060501                        63.15999985          No MI                                               1.00E+17
           16166371                            20360401                                  550000                             20060501                        57.29000092          No MI                                               1.00E+17
           16166373                            20360401                                  442500                             20060501                                 80          No MI                                               1.00E+17
           16166376                            20360401                                  604720                             20060501                                 80          No MI                                               1.00E+17
           16166401                            20360401                                  801000                             20060501                        74.51000214          No MI                                               1.00E+17
           16166402                            20360401                                  524000                             20060501                                 80          No MI                                               1.00E+17
           16166405                            20360401                                  650000                             20060501                        69.88999939          No MI                                               1.00E+17
           16166408                            20360401                                  630000                             20060501                        68.11000061          No MI                                               1.00E+17
           16166409                            20360401                                  505600                             20060501                        55.56000137          No MI                                               1.00E+17
           16166410                            20360401                                  508000                             20060501                                 80          No MI                                               1.00E+17
           16166412                            20360401                                  600000                             20060501                        77.04000092          No MI                                               1.00E+17
           16166284                            20360401                                  716000                             20060501                                 80          No MI                                               1.00E+17
           16166287                            20360401                                  616000                             20060501                                 80          No MI                                               1.00E+17
           16166292                            20360401                                  440800                             20060501                        79.70999908          No MI                                               1.00E+17
           16166293                            20360401                                  808000                             20060501                                 80          No MI                                               1.00E+17
           16166294                            20360401                                  435200                             20060501                                 80          No MI                                               1.00E+17
           16166300                            20360401                                  616247                             20060501                                 80          No MI                                               1.00E+17
           16166302                            20360401                                  685000                             20060501                        77.40000153          No MI                                               1.00E+17
           16166316                            20360401                                  880000                             20060501                                 80          No MI                                               1.00E+17
           16166096                            20360201                                 1000000                             20060301                        68.97000122          No MI                                               1.00E+17
           16166099                            20360201                                  736500                             20060301                        79.98999786          No MI                                               1.00E+17
           16166103                            20360301                                  520000                             20060401                                 80          No MI                                               1.00E+17
           16166105                            20360301                                  471250                             20060401                                 80          No MI                                               1.00E+17
           16166111                            20360301                                  588333                             20060401                                 80          No MI                                               1.00E+17
           16166114                            20360301                                  500000                             20060401                                 80          No MI                                               1.00E+17
           16166117                            20360301                                  569600                             20060401                                 80          No MI                                               1.00E+17
           16166131                            20360401                                 1000000                             20060501                        75.19999695          No MI                                               1.00E+17
           16166132                            20360401                                  460000                             20060501                                 80          No MI                                               1.00E+17
           16166133                            20360401                                  796000                             20060501                                 80          No MI                                               1.00E+17
           16166139                            20360301                                  475000                             20060401                        54.29000092          No MI                                               1.00E+17
           16166144                            20360301                                  521000                             20060401                        79.91000366          No MI                                               1.00E+17
           16166171                            20360401                                  452950                             20060501                                 80          No MI                                               1.00E+17
           16166172                            20360401                                  728000                             20060501                                 80          No MI                                               1.00E+17
           16166173                            20360401                                  722500                             20060501                        76.05000305          No MI                                               1.00E+17
           16166174                            20360401                                  609850                             20060501                        73.48000336          No MI                                               1.00E+17
           16166181                            20360401                                  816000                             20060501                                 80          No MI                                               1.00E+17
           16166184                            20360401                                  528000                             20060501                        52.27999878          No MI                                               1.00E+17
           16166186                            20351101                                 1050000                             20051201                        28.37999916          No MI                                               1.00E+17
           16166195                            20360401                                  860000                             20060501                                 80          No MI                                               1.00E+17
           16166196                            20360401                                  536000                             20060501                                 80          No MI                                               1.00E+17
           16166205                            20360301                                  474400                             20060401                                 80          No MI                                               1.00E+17
           16166210                            20360401                                  787500                             20060501                                 70          No MI                                               1.00E+17
           16166211                            20360401                                  577875                             20060501                                 75          No MI                                               1.00E+17
           16166212                            20360401                                  584000                             20060501                                 80          No MI                                               1.00E+17
           16166214                            20360401                                  511200                             20060501                                 80          No MI                                               1.00E+17
           16166215                            20360401                                  480000                             20060501                        67.61000061          No MI                                               1.00E+17
           16166219                            20360301                                  460000                             20060401                        63.00999832          No MI                                               1.00E+17
           16166222                            20360301                                  512000                             20060401                                 80          No MI                                               1.00E+17
           16166229                            20360401                                  805000                             20060501                        73.18000031          No MI                                               1.00E+17
           16166230                            20360401                                  472000                             20060501                                 80          No MI                                               1.00E+17
           16166239                            20360401                                  650000                             20060501                        63.40999985          No MI                                               1.00E+17
           16166243                            20360401                                  496550                             20060501                        79.98999786          No MI                                               1.00E+17
           16166244                            20360401                                  575348                             20060501                                 80          No MI                                               1.00E+17
           16166258                            20360401                                  455600                             20060501                                 80          No MI                                               1.00E+17
           16166261                            20360401                                  427750                             20060501                        79.98999786          No MI                                               1.00E+17
           16166262                            20360401                                  608000                             20060501                                 80          No MI                                               1.00E+17
           16166264                            20360401                                  750000                             20060501                        42.86000061          No MI                                               1.00E+17
           16166265                            20360401                                  890000                             20060501                        79.11000061          No MI                                               1.00E+17
           16166070                            20360401                                  553000                             20060501                              65.75          No MI                                               1.00E+17
           16166071                            20351001                                  570000                             20051101                        70.37000275          No MI                                               1.00E+17
           16166073                            20351201                                  575000                             20060101                               57.5          No MI                                               1.00E+17
           16166077                            20360401                                  496639                             20060501                                 80          No MI                                               1.00E+17
           16166079                            20360401                                  666828                             20060501                                 80          No MI                                               1.00E+17
           16166085                            20360401                                  664000                             20060501                                 80          No MI                                               1.00E+17
           16166087                            20360401                                  904500                             20060501                                 80          No MI                                               1.00E+17
           16166093                            20360101                                  442320                             20060201                                 80          No MI                                               1.00E+17
           16184179                            20360401                                  618000                             20060501                        77.73999786          No MI                                               1.00E+17
           16184180                            20360401                                  611300                             20060501                        79.52999878          No MI                                               1.00E+17
           16184181                            20360401                                  609600                             20060501                                 80          No MI                                               1.00E+17
           16184183                            20360401                                  644000                             20060501                                 70          No MI                                               1.00E+17
           16184184                            20360401                                  512000                             20060501                                 80          No MI                                               1.00E+17
           16184185                            20360401                                  460000                             20060501                        79.98999786          No MI                                               1.00E+17
           16184186                            20360401                                  500000                             20060501                                 80          No MI                                               1.00E+17
           16184187                            20360401                                  700000                             20060501                        78.48000336          No MI                                               1.00E+17
           16184188                            20360401                                  503190                             20060501                                 80          No MI                                               1.00E+17
           16184189                            20360401                                  626250                             20060501                                 75          No MI                                               1.00E+17
           16184191                            20360401                                  640000                             20060501                                 80          No MI                                               1.00E+17
           16184193                            20360401                                  540000                             20060501                        79.87999725          No MI                                               1.00E+17
           16184195                            20360401                                  936000                             20060501                                 80          No MI                                               1.00E+17
           16184196                            20360401                                  488800                             20060501                                 80          No MI                                               1.00E+17
           16184198                            20360401                                  562500                             20060501                                 80          No MI                                               1.00E+17
           16184199                            20360401                                  472000                             20060501                                 80          No MI                                               1.00E+17
           16184200                            20360401                                  656000                             20060501                                 80          No MI                                               1.00E+17
           16184202                            20360401                                  452800                             20060501                                 80          No MI                                               1.00E+17
           16184203                            20360401                                  465000                             20060501                        72.08999634          No MI                                               1.00E+17
           16184204                            20360401                                  615000                             20060501                        78.33999634          No MI                                               1.00E+17
           16184205                            20360401                                  844000                             20060501                                 80          No MI                                               1.00E+17
           16184209                            20360401                                  444276                             20060501                                 80          No MI                                               1.00E+17
           16184212                            20360401                                  908000                             20060501                                 80          No MI                                               1.00E+17
           16184214                            20360401                                  473792                             20060501                                 80          No MI                                               1.00E+17
           16184217                            20360501                                  715000                             20060601                               62.5          No MI                                               1.00E+17
           16184218                            20360501                                  440000                             20060601                                 80          No MI                                               1.00E+17
           16184219                            20360501                                  484000                             20060601                                 80          No MI                                               1.00E+17
           16184220                            20360501                                  660000                             20060601                                 75          No MI                                               1.00E+17
           16184221                            20360501                                  492000                             20060601                                 80          No MI                                               1.00E+17
           16184223                            20360501                                  642000                             20060601                        72.94999695          No MI                                               1.00E+17
           16184224                            20360501                                  439000                             20060601                              78.25          No MI                                               1.00E+17
           16184225                            20360501                                  600000                             20060601                        79.47000122          No MI                                               1.00E+17
           16184226                            20360401                                  603992                             20060501                                 80          No MI                                               1.00E+17
           16184227                            20360401                                  718000                             20060501                        65.26999664          No MI                                               1.00E+17
           16184228                            20360501                                  752000                             20060601                                 80          No MI                                               1.00E+17
           16184229                            20360501                                  600000                             20060601                        52.16999817          No MI                                               1.00E+17
           16184230                            20360401                                  556000                             20060501                                 80          No MI                                               1.00E+17
           16184232                            20360501                                 1275000                             20060601                                 75          No MI                                               1.00E+17
           16184234                            20360501                                  701250                             20060601                                 75          No MI                                               1.00E+17
           16184236                            20360401                                  424000                             20060501                                 80          No MI                                               1.00E+17
           16184239                            20360501                                  530000                             20060601                        72.59999847          No MI                                               1.00E+17
           16184241                            20360501                                  529000                             20060601                        76.12000275          No MI                                               1.00E+17
           16184245                            20360501                                  600000                             20060601                                 80          No MI                                               1.00E+17
           16184257                            20360501                                  421380                             20060601                                 90          United Guaranty                                     1.00E+17
           16184259                            20360501                                  650000                             20060601                        79.26999664          No MI                                               1.00E+17
           16184262                            20360501                                  500000                             20060601                        66.66999817          No MI                                               1.00E+17
           16184265                            20360501                                  800000                             20060601                                 80          No MI                                               1.00E+17
           16184266                            20360501                                  420000                             20060601                        68.06999969          No MI                                               1.00E+17
           16184268                            20360401                                  648000                             20060501                                 80          No MI                                               1.00E+17
           16184176                            20351001                                  476400                             20051101                        36.65000153          No MI                                               1.00E+17
           16184177                            20360401                                  461620                             20060501                                 80          No MI                                               1.00E+17
           16166799                            20360401                                  650000                             20060501                        79.22000122          No MI                                               1.00E+17
           16166800                            20360301                                  994087                             20060401                        77.66000366          No MI                                               1.00E+17
           16166802                            20360401                                  448000                             20060501                                 80          No MI                                               1.00E+17
           16166756                            20360401                                  592500                             20060501                        68.90000153          No MI                                               1.00E+17
           16166760                            20360401                                  496800                             20060501                                 80          No MI                                               1.00E+17
           16166764                            20360401                                  668900                             20060501                                 80          No MI                                               1.00E+17
           16166785                            20360301                                  910000                             20060401                        61.06999969          No MI                                               1.00E+17
           16166739                            20360401                                  650000                             20060501                        75.93000031          No MI                                               1.00E+17
           16166620                            20360401                                  439920                             20060501                                 80          No MI                                               1.00E+17
           16166624                            20360401                                  752000                             20060501                                 80          No MI                                               1.00E+17
           16166626                            20360401                                  471200                             20060501                                 80          No MI                                               1.00E+17
           16166646                            20360401                                  534750                             20060501                        74.94999695          No MI                                               1.00E+17
           16166673                            20360401                                  588000                             20060501                                 80          No MI                                               1.00E+17
           16166674                            20360401                                  562000                             20060501                        66.90000153          No MI                                               1.00E+17
           16166675                            20360401                                  528000                             20060501                                 80          No MI                                               1.00E+17
           16166687                            20360401                                  899400                             20060501                        79.98000336          No MI                                               1.00E+17
           16166731                            20360401                                  520000                             20060501                                 80          No MI                                               1.00E+17
           16166594                            20360501                                  750000                             20060601                                 50          No MI                                               1.00E+17
           16166599                            20360401                                  850000                             20060501                        59.86000061          No MI                                               1.00E+17
           16166600                            20360401                                  448000                             20060501                                 80          No MI                                               1.00E+17
           16166573                            20360401                                  456000                             20060501                                 80          No MI                                               1.00E+17
           16166581                            20360401                                  420117                             20060501                                 90          PMI                                                 1.00E+17
           16166453                            20360401                                  553000                             20060501                                 79          No MI                                               1.00E+17
           16166465                            20360401                                  545000                             20060501                        71.70999908          No MI                                               1.00E+17
           16166466                            20360401                                  628000                             20060501                        67.52999878          No MI                                               1.00E+17
           16166468                            20360401                                  565000                             20060501                        60.11000061          No MI                                               1.00E+17
           16166484                            20360401                                  900000                             20060501                                 72          No MI                                               1.00E+17
           16166485                            20360401                                  836000                             20060501                                 80          No MI                                               1.00E+17
           16166487                            20360401                                  756000                             20060501                                 80          No MI                                               1.00E+17
           16166489                            20360401                                  518000                             20060501                        20.30999947          No MI                                               1.00E+17
           16166490                            20360401                                  980000                             20060501                        78.40000153          No MI                                               1.00E+17
           16166496                            20360401                                  825000                             20060501                              68.75          No MI                                               1.00E+17
           16166506                            20360401                                  600000                             20060501                        77.91999817          No MI                                               1.00E+17
           16166507                            20360401                                 1000000                             20060501                        75.47000122          No MI                                               1.00E+17
           16166512                            20360401                                  476000                             20060501                                 80          No MI                                               1.00E+17
           16166517                            20360401                                  532000                             20060501                                 80          No MI                                               1.00E+17
           16166529                            20360401                                  816000                             20060501                                 80          No MI                                               1.00E+17
           16166537                            20360401                                 1000000                             20060501                              41.75          No MI                                               1.00E+17
           16166558                            20360401                                  694000                             20060501                        55.52000046          No MI                                               1.00E+17
           16166559                            20360401                                  471920                             20060501                                 80          No MI                                               1.00E+17
           16166564                            20360401                                  450000                             20060501                        48.38999939          No MI                                               1.00E+17
           16166420                            20360401                                  505151                             20060501                                 80          No MI                                               1.00E+17
           16166427                            20360401                                  720000                             20060501                                 80          No MI                                               1.00E+17
           16166429                            20360401                                  444120                             20060501                                 80          No MI                                               1.00E+17
           16166432                            20360401                                  667200                             20060501                                 80          No MI                                               1.00E+17
           16166434                            20360401                                  531500                             20060501                        73.81999969          No MI                                               1.00E+17
           16166446                            20360401                                  740000                             20060501                                 80          No MI                                               1.00E+17
           16166448                            20360401                                  950000                             20060501                        69.08999634          No MI                                               1.00E+17
           16166452                            20360401                                  551000                             20060501                        55.65999985          No MI                                               1.00E+17
           16166324                            20360301                                  468000                             20060401                                 80          No MI                                               1.00E+17
           16166330                            20360401                                  559920                             20060501                        76.15000153          No MI                                               1.00E+17
           16166332                            20360401                                  440000                             20060501                                 80          No MI                                               1.00E+17
           16166333                            20360401                                 1800000                             20060501                              56.25          No MI                                               1.00E+17
           16166342                            20360401                                  461000                             20060501                        69.84999847          No MI                                               1.00E+17
           16166346                            20360401                                  420000                             20060501                                 80          No MI                                               1.00E+17
           16166348                            20360401                                  980000                             20060501                              61.25          No MI                                               1.00E+17
           16166351                            20360401                                  464000                             20060501                        61.13000107          No MI                                               1.00E+17
           16166352                            20360401                                  428000                             20060501                                 80          No MI                                               1.00E+17
           16166358                            20360401                                  695000                             20060501                        77.41999817          No MI                                               1.00E+17
           16166360                            20360401                                  439957                             20060501                                 80          No MI                                               1.00E+17
           16166368                            20360401                                  639200                             20060501                                 80          No MI                                               1.00E+17
           16166374                            20360401                                  441592                             20060501                                 80          No MI                                               1.00E+17
           16166375                            20360401                                  424000                             20060501                                 80          No MI                                               1.00E+17
           16166381                            20360401                                  463960                             20060501                                 80          No MI                                               1.00E+17
           16166383                            20360401                                  650000                             20060501                        54.16999817          No MI                                               1.00E+17
           16166391                            20360401                                  500000                             20060501                        69.93000031          No MI                                               1.00E+17
           16166393                            20360401                                  443500                             20060501                        79.19999695          No MI                                               1.00E+17
           16166399                            20360401                                  465000                             20060501                        73.80999756          No MI                                               1.00E+17
           16166271                            20360401                                  528000                             20060501                                 80          No MI                                               1.00E+17
           16166272                            20360401                                  467950                             20060501                        79.98999786          No MI                                               1.00E+17
           16166274                            20360401                                 1237500                             20060501                                 75          No MI                                               1.00E+17
           16166278                            20360401                                  420000                             20060501                                 80          No MI                                               1.00E+17
           16166281                            20360401                                  472000                             20060501                                 80          No MI                                               1.00E+17
           16166288                            20360401                                  441910                             20060501                                 80          No MI                                               1.00E+17
           16166304                            20360401                                  564800                             20060501                                 80          No MI                                               1.00E+17
           16166305                            20360401                                 1385000                             20060501                        74.86000061          No MI                                               1.00E+17
           16166306                            20360401                                  488000                             20060501                                 80          No MI                                               1.00E+17
           16166308                            20360401                                  750000                             20060501                        69.76999664          No MI                                               1.00E+17
           16166311                            20360401                                 1000000                             20060501                        59.34999847          No MI                                               1.00E+17
           16166317                            20360401                                  427000                             20060501                                 61          No MI                                               1.00E+17
           16166100                            20360201                                  516000                             20060301                                 80          No MI                                               1.00E+17
           16166109                            20360301                                  637000                             20060401                                 70          No MI                                               1.00E+17
           16166118                            20360301                                  624000                             20060401                                 80          No MI                                               1.00E+17
           16166123                            20360401                                  692000                             20060501                                 80          No MI                                               1.00E+17
           16166126                            20360401                                  578517                             20060501                                 90          PMI                                                 1.00E+17
           16166129                            20360301                                  716000                             20060401                                 80          No MI                                               1.00E+17
           16166137                            20360301                                  598400                             20060401                                 80          No MI                                               1.00E+17
           16166141                            20360401                                  720000                             20060501                        79.12000275          No MI                                               1.00E+17
           16166157                            20360401                                  448000                             20060501                                 80          No MI                                               1.00E+17
           16166166                            20360401                                  450000                             20060501                        70.30999756          No MI                                               1.00E+17
           16166177                            20360401                                  880000                             20060501                                 80          No MI                                               1.00E+17
           16166180                            20360401                                  497600                             20060501                                 80          No MI                                               1.00E+17
           16166182                            20360401                                  460000                             20060501                                 80          No MI                                               1.00E+17
           16166185                            20360401                                  592000                             20060501                                 80          No MI                                               1.00E+17
           16166187                            20360401                                  599200                             20060501                                 80          No MI                                               1.00E+17
           16166193                            20360401                                  500000                             20060501                        76.80000305          No MI                                               1.00E+17
           16166198                            20360401                                  448000                             20060501                                 80          No MI                                               1.00E+17
           16166199                            20360401                                  570350                             20060501                        79.98999786          No MI                                               1.00E+17
           16166221                            20360301                                  503500                             20060401                                 80          No MI                                               1.00E+17
           16166224                            20360401                                  504000                             20060501                                 80          No MI                                               1.00E+17
           16166227                            20360401                                  540000                             20060501                        31.76000023          No MI                                               1.00E+17
           16166233                            20360401                                  552000                             20060501                                 80          No MI                                               1.00E+17
           16166236                            20360401                                  781000                             20060501                        72.65000153          No MI                                               1.00E+17
           16166251                            20360401                                  540000                             20060501                                 80          No MI                                               1.00E+17
           16166254                            20360401                                 1000000                             20060501                        66.66999817          No MI                                               1.00E+17
           16166263                            20360401                                 1700000                             20060501                                 68          No MI                                               1.00E+17
           16166266                            20360401                                  880000                             20060501                        74.88999939          No MI                                               1.00E+17
           16166078                            20360401                                  666025                             20060501                                 80          No MI                                               1.00E+17
           16166082                            20360401                                  559300                             20060501                                 70          No MI                                               1.00E+17
           16166089                            20360401                                  683000                             20060501                                 80          No MI                                               1.00E+17
           16177241                            20360401                                 1000000                             20060501                        76.91999817          No MI                                               1.00E+17
           16177242                            20360501                                  751960                             20060601                                 80          No MI                                               1.00E+17
           16177243                            20360501                                  540000                             20060601                                 80          No MI                                               1.00E+17
           16177244                            20360501                                 1196250                             20060601                                 75          No MI                                               1.00E+17
           16177245                            20360501                                 1125000                             20060601                                 75          No MI                                               1.00E+17
           16177220                            20360401                                 1270284                             20060501                                 75          No MI                                               1.00E+17
           16177221                            20360501                                  503920                             20060601                                 80          No MI                                               1.00E+17
           16177222                            20360501                                  459000                             20060601                        79.83000183          No MI                                               1.00E+17
           16177223                            20360501                                  431200                             20060601                                 80          No MI                                               1.00E+17
           16177224                            20360501                                  504000                             20060601                                 80          No MI                                               1.00E+17
           16177225                            20360401                                  702600                             20060501                        79.98999786          No MI                                               1.00E+17
           16177226                            20360401                                  500000                             20060501                                 80          No MI                                               1.00E+17
           16177227                            20360401                                  540000                             20060501                        56.84000015          No MI                                               1.00E+17
           16177228                            20360501                                  736000                             20060601                                 75          No MI                                               1.00E+17
           16177229                            20360401                                  524000                             20060501                                 80          No MI                                               1.00E+17
           16177230                            20360401                                  440000                             20060501                                 80          No MI                                               1.00E+17
           16177231                            20360401                                  556000                             20060501                                 80          No MI                                               1.00E+17
           16177232                            20360401                                  691000                             20060501                        79.87999725          No MI                                               1.00E+17
           16177233                            20360401                                  648000                             20060501                                 80          No MI                                               1.00E+17
           16177234                            20360401                                  532000                             20060501                                 80          No MI                                               1.00E+17
           16177235                            20360401                                  468000                             20060501                                 80          No MI                                               1.00E+17
           16177236                            20360501                                  774000                             20060601                                 80          No MI                                               1.00E+17
           16177237                            20360501                                  494650                             20060601                        79.98999786          No MI                                               1.00E+17
           16177238                            20360501                                  524200                             20060601                                 70          No MI                                               1.00E+17
           16177239                            20360501                                  624000                             20060601                                 80          No MI                                               1.00E+17
           16177240                            20360501                                  530500                             20060601                                 80          No MI                                               1.00E+17
           16177210                            20360501                                  903750                             20060601                                 75          No MI                                               1.00E+17
           16177211                            20360401                                  639200                             20060501                                 80          No MI                                               1.00E+17
           16177212                            20360401                                 3000000                             20060501                                 60          No MI                                               1.00E+17
           16177213                            20360401                                  442000                             20060501                        79.93000031          No MI                                               1.00E+17
           16177214                            20360501                                  900000                             20060601                        47.36999893          No MI                                               1.00E+17
           16177215                            20360401                                  500000                             20060501                        72.47000122          No MI                                               1.00E+17
           16177216                            20360401                                  900000                             20060501                        79.93000031          No MI                                               1.00E+17
           16177217                            20360401                                  998000                             20060501                        79.68000031          No MI                                               1.00E+17
           16177218                            20360501                                  584000                             20060601                                 80          No MI                                               1.00E+17
           16177219                            20360401                                  428000                             20060501                                 80          No MI                                               1.00E+17
           16177170                            20360501                                  591776                             20060601                                 80          No MI                                               1.00E+17
           16177171                            20360501                                  543200                             20060601                                 80          No MI                                               1.00E+17
           16177172                            20360401                                  650000                             20060501                              79.75          No MI                                               1.00E+17
           16177173                            20360501                                 1110000                             20060601                                 75          No MI                                               1.00E+17
           16177174                            20360501                                 3000000                             20060601                                 75          No MI                                               1.00E+17
           16177175                            20360401                                  420000                             20060501                                 80          No MI                                               1.00E+17
           16177176                            20360401                                  482000                             20060501                        75.66999817          No MI                                               1.00E+17
           16177177                            20360401                                 1000000                             20060501                        69.26000214          No MI                                               1.00E+17
           16177178                            20360301                                  440000                             20060401                                 40          No MI                                               1.00E+17
           16177179                            20360401                                  532000                             20060501                                 80          No MI                                               1.00E+17
           16177180                            20360401                                  423500                             20060501                        65.15000153          No MI                                               1.00E+17
           16177181                            20360401                                  436000                             20060501                                 80          No MI                                               1.00E+17
           16177182                            20360401                                  491600                             20060501                                 80          No MI                                               1.00E+17
           16177183                            20360401                                  657000                             20060501                        75.51999664          No MI                                               1.00E+17
           16177184                            20360401                                  455900                             20060501                                 80          No MI                                               1.00E+17
           16177185                            20360401                                  470000                             20060501                        79.90000153          No MI                                               1.00E+17
           16177186                            20360401                                  684000                             20060501                                 80          No MI                                               1.00E+17
           16177187                            20360401                                 1310000                             20060501                        74.86000061          No MI                                               1.00E+17
           16177188                            20360401                                  605000                             20060501                        76.77999878          No MI                                               1.00E+17
           16177189                            20360401                                  593910                             20060501                        81.91999817          Republic MIC                                        1.00E+17
           16177190                            20360401                                  746500                             20060501                        56.34000015          No MI                                               1.00E+17
           16177191                            20360401                                  504000                             20060501                                 80          No MI                                               1.00E+17
           16177192                            20360401                                  508000                             20060501                                 80          No MI                                               1.00E+17
           16177193                            20360401                                  625000                             20060501                                 50          No MI                                               1.00E+17
           16177194                            20360401                                 1646000                             20060501                        53.09999847          No MI                                               1.00E+17
           16177195                            20360401                                  543156                             20060501                                 80          No MI                                               1.00E+17
           16177196                            20360401                                  508000                             20060501                                 80          No MI                                               1.00E+17
           16177197                            20360401                                  456000                             20060501                                 80          No MI                                               1.00E+17
           16177198                            20360401                                  549975                             20060501                                 80          No MI                                               1.00E+17
           16177199                            20360401                                  434400                             20060501                                 80          No MI                                               1.00E+17
           16177165                            20360401                                  469000                             20060501                                 70          No MI                                               1.00E+17
           16177166                            20360401                                  556000                             20060501                                 80          No MI                                               1.00E+17
           16177167                            20360301                                 2800000                             20060401                        71.79000092          No MI                                               1.00E+17
           16177168                            20360401                                  650000                             20060501                        77.83999634          No MI                                               1.00E+17
           16177169                            20360401                                  457100                             20060501                                 80          No MI                                               1.00E+17
           16177113                            20360401                                  539300                             20060501                        65.37000275          No MI                                               1.00E+17
           16177114                            20360401                                  925050                             20060501                                 80          No MI                                               1.00E+17
           16177115                            20360401                                 1100000                             20060501                        22.45000076          No MI                                               1.00E+17
           16177116                            20360401                                  454016                             20060501                                 80          No MI                                               1.00E+17
           16177117                            20360401                                  418428                             20060501                                 80          No MI                                               1.00E+17
           16177118                            20360401                                  568038                             20060501                                 80          No MI                                               1.00E+17
           16177119                            20360401                                  471350                             20060501                        79.98999786          No MI                                               1.00E+17
           16177120                            20360401                                  650000                             20060501                              71.75          No MI                                               1.00E+17
           16177121                            20360401                                  453750                             20060501                                 80          No MI                                               1.00E+17
           16177122                            20360401                                  477890                             20060501                                 80          No MI                                               1.00E+17
           16177123                            20360401                                  624000                             20060501                        79.19000244          No MI                                               1.00E+17
           16177124                            20360401                                  435975                             20060501                        78.55000305          No MI                                               1.00E+17
           16177125                            20360401                                  576000                             20060501                                 80          No MI                                               1.00E+17
           16177126                            20360401                                  455600                             20060501                                 80          No MI                                               1.00E+17
           16177127                            20360401                                  531700                             20060501                        79.30000305          No MI                                               1.00E+17
           16177128                            20360401                                  636660                             20060501                                 80          No MI                                               1.00E+17
           16177129                            20360401                                  959950                             20060501                                 80          No MI                                               1.00E+17
           16177130                            20351201                                 2750000                             20060101                        68.04000092          No MI                                               1.00E+17
           16177131                            20360301                                  725900                             20060401                                 80          No MI                                               1.00E+17
           16177132                            20360301                                  540450                             20060401                        79.98999786          No MI                                               1.00E+17
           16177133                            20360401                                  451000                             20060501                        45.09999847          No MI                                               1.00E+17
           16177134                            20360401                                  557000                             20060501                        79.56999969          No MI                                               1.00E+17
           16177135                            20360401                                  608543                             20060501                        75.26000214          No MI                                               1.00E+17
           16177136                            20360401                                  695000                             20060501                        77.65000153          No MI                                               1.00E+17
           16177137                            20360401                                  600000                             20060501                        42.11000061          No MI                                               1.00E+17
           16177138                            20360401                                  635350                             20060501                        79.98999786          No MI                                               1.00E+17
           16177139                            20360401                                  436000                             20060501                                 80          No MI                                               1.00E+17
           16177140                            20360401                                  418000                             20060501                                 95          GE Capital MI                                       1.00E+17
           16177141                            20360401                                  533000                             20060501                        70.12999725          No MI                                               1.00E+17
           16177142                            20360401                                  505000                             20060501                        53.15999985          No MI                                               1.00E+17
           16177143                            20360401                                  463500                             20060501                        67.16999817          No MI                                               1.00E+17
           16177144                            20360401                                  680000                             20060501                                 80          No MI                                               1.00E+17
           16177145                            20360401                                  555000                             20060501                        67.68000031          No MI                                               1.00E+17
           16177146                            20360401                                  705600                             20060501                                 80          No MI                                               1.00E+17
           16177147                            20360401                                  457792                             20060501                                 80          No MI                                               1.00E+17
           16177148                            20360401                                  516000                             20060501                                 80          No MI                                               1.00E+17
           16177110                            20360301                                  600000                             20060401                                 80          No MI                                               1.00E+17
           16177111                            20360301                                  500000                             20060401                        78.12999725          No MI                                               1.00E+17
           16177112                            20360201                                  620000                             20060301                        76.54000092          No MI                                               1.00E+17
           16177149                            20351201                                  430600                             20060101                        76.20999908          No MI                                               1.00E+17
           16177150                            20360401                                 2110100                             20060501                                 75          No MI                                               1.00E+17
           16177152                            20360501                                  460000                             20060601                                 80          No MI                                               1.00E+17
           16177153                            20360401                                 1406250                             20060501                                 75          No MI                                               1.00E+17
           16177154                            20360301                                  480000                             20060401                                 80          No MI                                               1.00E+17
           16177155                            20360501                                  482000                             20060601                        49.84000015          No MI                                               1.00E+17
           16177157                            20360401                                  640000                             20060501                                 80          No MI                                               1.00E+17
           16177158                            20360201                                 1000000                             20060301                        79.37000275          No MI                                               1.00E+17
           16177159                            20360401                                  654000                             20060501                                 80          No MI                                               1.00E+17
           16177160                            20360301                                  454048                             20060401                                 80          No MI                                               1.00E+17
           16177161                            20360401                                  528750                             20060501                        69.12000275          No MI                                               1.00E+17
           16177162                            20360401                                  747342                             20060501                                 80          No MI                                               1.00E+17
           16177163                            20360401                                 1662500                             20060501                                 70          No MI                                               1.00E+17
           16177164                            20360401                                  477700                             20060501                        79.98000336          No MI                                               1.00E+17
           16177100                            20360401                                  750200                             20060501                                 80          No MI                                               1.00E+17
           16177101                            20360401                                  460000                             20060501                                 80          No MI                                               1.00E+17
           16177102                            20360401                                  494500                             20060501                        60.34999847          No MI                                               1.00E+17
           16177103                            20360401                                  582400                             20060501                                 80          No MI                                               1.00E+17
           16177104                            20360401                                  840000                             20060501                                 70          No MI                                               1.00E+17
           16177105                            20360301                                  551350                             20060401                        79.98999786          No MI                                               1.00E+17
           16177106                            20360401                                  615000                             20060501                        71.48000336          No MI                                               1.00E+17
           16177107                            20360401                                  466300                             20060501                        63.88000107          No MI                                               1.00E+17
           16177108                            20351201                                  711800                             20060101                                 80          No MI                                               1.00E+17
           16177109                            20360401                                  444350                             20060501                                 75          No MI                                               1.00E+17
           16177200                            20360401                                  480000                             20060501                                 80          No MI                                               1.00E+17
           16177201                            20360401                                 1585000                             20060501                        52.83000183          No MI                                               1.00E+17
           16177202                            20360401                                  510000                             20060501                        77.26999664          No MI                                               1.00E+17
           16177203                            20360401                                  457696                             20060501                                 80          No MI                                               1.00E+17
           16177204                            20360401                                  457696                             20060501                                 80          No MI                                               1.00E+17
           16177205                            20360401                                  716000                             20060501                                 80          No MI                                               1.00E+17
           16177206                            20360501                                  465000                             20060601                        67.38999939          No MI                                               1.00E+17
           16177207                            20360401                                  532000                             20060501                                 80          No MI                                               1.00E+17
           16177208                            20360401                                  960000                             20060501                              65.75          No MI                                               1.00E+17
           16177209                            20360401                                  640000                             20060501                        75.29000092          No MI                                               1.00E+17
           16177090                            20351001                                  445100                             20051101                                 80          No MI                                               1.00E+17
           16177091                            20360401                                  640872                             20060501                                 80          No MI                                               1.00E+17
           16177092                            20360501                                  651795                             20060601                                 75          No MI                                               1.00E+17
           16177093                            20360501                                  998628                             20060601                                 75          No MI                                               1.00E+17
           16177094                            20360401                                  499900                             20060501                                 80          No MI                                               1.00E+17
           16177095                            20360401                                  448666                             20060501                                 80          No MI                                               1.00E+17
           16177096                            20360301                                  600000                             20060401                        79.47000122          No MI                                               1.00E+17
           16177097                            20360101                                  774000                             20060201                                 80          No MI                                               1.00E+17
           16177098                            20360301                                  603050                             20060401                        79.98999786          No MI                                               1.00E+17
           16177099                            20360401                                 1000000                             20060501                        61.54000092          No MI                                               1.00E+17
           16218249                            20360501                                 1000000                             20060601                        75.47000122          No MI                                               1.00E+17
           16218250                            20360501                                  472500                             20060601                        69.37999725          No MI                                               1.00E+17
           16218251                            20360401                                  468000                             20060501                                 80          No MI                                               1.00E+17
           16218252                            20360501                                  447200                             20060601                                 80          No MI                                               1.00E+17
           16218244                            20360501                                  576000                             20060601                                 80          No MI                                               1.00E+17
           16218245                            20360501                                  632000                             20060601                                 80          No MI                                               1.00E+17
           16218246                            20360501                                  392800                             20060601                                 80          No MI                                               1.00E+17
           16218247                            20360501                                  720000                             20060601                                 80          No MI                                               1.00E+17
           16218248                            20360501                                  945000                             20060601                               67.5          No MI                                               1.00E+17
           16218236                            20360501                                  633600                             20060601                                 80          No MI                                               1.00E+17
           16218237                            20360501                                  644830                             20060601                                 80          No MI                                               1.00E+17
           16218238                            20360501                                  940000                             20060601                                 80          No MI                                               1.00E+17
           16218239                            20360501                                  574000                             20060601                                 70          No MI                                               1.00E+17
           16218240                            20360501                                  860000                             20060601                                 80          No MI                                               1.00E+17
           16218241                            20360501                                  620000                             20060601                                 80          No MI                                               1.00E+17
           16218242                            20360501                                  552000                             20060601                                 69          No MI                                               1.00E+17
           16218243                            20360501                                  472000                             20060601                                 80          No MI                                               1.00E+17
           16218230                            20360501                                  650000                             20060601                        38.24000168          No MI                                               1.00E+17
           16218231                            20360501                                  628000                             20060601                                 80          No MI                                               1.00E+17
           16218232                            20360501                                  900000                             20060601                                 18          No MI                                               1.00E+17
           16218233                            20360501                                 1240000                             20060601                        73.37000275          No MI                                               1.00E+17
           16218234                            20360501                                  201600                             20060601                                 80          No MI                                               1.00E+17
           16218235                            20360501                                   77600                             20060601                                 80          No MI                                               1.00E+17
           16218227                            20360501                                  650000                             20060601                        74.70999908          No MI                                               1.00E+17
           16218228                            20360501                                  756000                             20060601                                 80          No MI                                               1.00E+17
           16218229                            20360501                                  452000                             20060601                        62.77999878          No MI                                               1.00E+17
           16218226                            20360501                                  522500                             20060601                        76.83999634          No MI                                               1.00E+17
           16218150                            20360501                                 1500000                             20060601                        68.56999969          No MI                                               1.00E+17
           16218151                            20360501                                  650000                             20060601                        78.79000092          No MI                                               1.00E+17
           16218152                            20360501                                  583600                             20060601                                 80          No MI                                               1.00E+17
           16218153                            20360501                                  427992                             20060601                                 80          No MI                                               1.00E+17
           16218154                            20360501                                  596000                             20060601                                 80          No MI                                               1.00E+17
           16218155                            20360401                                  452000                             20060501                                 80          No MI                                               1.00E+17
           16218156                            20360501                                  504000                             20060601                                 70          No MI                                               1.00E+17
           16218157                            20360501                                  580000                             20060601                        73.41999817          No MI                                               1.00E+17
           16218158                            20360501                                  436800                             20060601                                 80          No MI                                               1.00E+17
           16218159                            20360501                                  564000                             20060601                                 80          No MI                                               1.00E+17
           16218160                            20360501                                  488861                             20060601                                 80          No MI                                               1.00E+17
           16218161                            20360501                                  127720                             20060601                                 80          No MI                                               1.00E+17
           16218162                            20360501                                  616000                             20060601                                 80          No MI                                               1.00E+17
           16218163                            20360501                                  650000                             20060601                        77.37999725          No MI                                               1.00E+17
           16218164                            20360501                                  535500                             20060601                                 90          United Guaranty                                     1.00E+17
           16218165                            20360501                                  139200                             20060601                                 80          No MI                                               1.00E+17
           16218166                            20360501                                  532000                             20060601                                 80          No MI                                               1.00E+17
           16218167                            20360501                                  700000                             20060601                        49.11999893          No MI                                               1.00E+17
           16218168                            20360501                                  705000                             20060601                        78.33000183          No MI                                               1.00E+17
           16218169                            20360501                                  881250                             20060601                                 75          No MI                                               1.00E+17
           16218126                            20360501                                 1100000                             20060601                                 55          No MI                                               1.00E+17
           16218170                            20360501                                  800000                             20060601                                 80          No MI                                               1.00E+17
           16218171                            20360501                                  528000                             20060601                                 80          No MI                                               1.00E+17
           16218172                            20360501                                  836000                             20060601                                 80          No MI                                               1.00E+17
           16218173                            20360501                                  567014                             20060601                                 80          No MI                                               1.00E+17
           16218174                            20360501                                  496000                             20060601                                 80          No MI                                               1.00E+17
           16218175                            20360501                                  592000                             20060601                        75.90000153          No MI                                               1.00E+17
           16218176                            20360501                                 1068750                             20060601                                 75          No MI                                               1.00E+17
           16218177                            20360501                                  608000                             20060601                                 80          No MI                                               1.00E+17
           16218178                            20360501                                  650000                             20060601                        77.83999634          No MI                                               1.00E+17
           16218179                            20360501                                  624000                             20060601                                 80          No MI                                               1.00E+17
           16218180                            20360501                                  632000                             20060601                                 80          No MI                                               1.00E+17
           16218127                            20360401                                  445600                             20060501                                 80          No MI                                               1.00E+17
           16218128                            20360501                                 1000000                             20060601                        68.97000122          No MI                                               1.00E+17
           16218129                            20360501                                  417050                             20060601                        75.97000122          No MI                                               1.00E+17
           16218181                            20360501                                  700000                             20060601                        49.11999893          No MI                                               1.00E+17
           16218182                            20360501                                  979000                             20060601                        78.31999969          No MI                                               1.00E+17
           16218183                            20360501                                  444000                             20060601                                 80          No MI                                               1.00E+17
           16218184                            20360501                                  440000                             20060601                                 80          No MI                                               1.00E+17
           16218185                            20360501                                  427000                             20060601                        50.83000183          No MI                                               1.00E+17
           16218130                            20360501                                  212400                             20060601                                 90          Republic MIC                                        1.00E+17
           16218131                            20360401                                  543000                             20060501                        70.05999756          No MI                                               1.00E+17
           16218132                            20360401                                  495000                             20060501                                 75          No MI                                               1.00E+17
           16218186                            20360501                                  564800                             20060601                                 80          No MI                                               1.00E+17
           16218187                            20360501                                  617500                             20060601                        68.61000061          No MI                                               1.00E+17
           16218188                            20360501                                  264000                             20060601                                 80          No MI                                               1.00E+17
           16218189                            20360501                                  466400                             20060601                                 80          No MI                                               1.00E+17
           16218190                            20360401                                  562000                             20060501                              70.25          No MI                                               1.00E+17
           16218191                            20360501                                  155990                             20060601                                 80          No MI                                               1.00E+17
           16218192                            20360501                                  665000                             20060601                        72.68000031          No MI                                               1.00E+17
           16218193                            20360501                                  472000                             20060601                                 80          No MI                                               1.00E+17
           16218194                            20360501                                  440000                             20060601                                 80          No MI                                               1.00E+17
           16218195                            20360501                                  576000                             20060601                                 80          No MI                                               1.00E+17
           16218196                            20360501                                  537600                             20060601                                 80          No MI                                               1.00E+17
           16218197                            20360501                                  235000                             20060601                        79.93000031          No MI                                               1.00E+17
           16218198                            20360501                                  650000                             20060601                        76.47000122          No MI                                               1.00E+17
           16218199                            20360501                                  245340                             20060601                                 87          Republic MIC                                        1.00E+17
           16218133                            20360501                                  423500                             20060601                        79.98999786          No MI                                               1.00E+17
           16218134                            20360501                                  435700                             20060601                        79.98000336          No MI                                               1.00E+17
           16218135                            20360401                                  499900                             20060501                        69.91999817          No MI                                               1.00E+17
           16218136                            20360501                                  515000                             20060601                        77.44000244          No MI                                               1.00E+17
           16218137                            20360501                                  880000                             20060601                                 80          No MI                                               1.00E+17
           16218138                            20360401                                  440000                             20060501                        71.54000092          No MI                                               1.00E+17
           16218139                            20360401                                  446000                             20060501                        26.23999977          No MI                                               1.00E+17
           16218140                            20360501                                  747870                             20060601                                 80          No MI                                               1.00E+17
           16218141                            20360501                                  460765                             20060601                        50.59000015          No MI                                               1.00E+17
           16218142                            20360401                                  435050                             20060501                        79.98999786          No MI                                               1.00E+17
           16218143                            20360501                                  568048                             20060601                                 80          No MI                                               1.00E+17
           16218144                            20360501                                  905600                             20060601                                 80          No MI                                               1.00E+17
           16218145                            20360501                                  878424                             20060601                                 80          No MI                                               1.00E+17
           16218146                            20360501                                  896000                             20060601                                 80          No MI                                               1.00E+17
           16218147                            20360501                                  500000                             20060601                        18.52000046          No MI                                               1.00E+17
           16218148                            20360301                                  450000                             20060401                        85.70999908          United Guaranty                                     1.00E+17
           16218149                            20360501                                  198560                             20060601                                 80          No MI                                               1.00E+17
           16218100                            20360401                                  787500                             20060501                                 75          No MI                                               1.00E+17
           16218101                            20360401                                  465350                             20060501                                 80          No MI                                               1.00E+17
           16218102                            20360401                                 1000000                             20060501                        70.79000092          No MI                                               1.00E+17
           16218103                            20360401                                  623200                             20060501                                 80          No MI                                               1.00E+17
           16218104                            20360501                                  656000                             20060601                                 80          No MI                                               1.00E+17
           16218105                            20360401                                  456400                             20060501                                 80          No MI                                               1.00E+17
           16218106                            20360301                                  492000                             20060401                                 80          No MI                                               1.00E+17
           16218113                            20360501                                  476000                             20060601                                 80          No MI                                               1.00E+17
           16218114                            20360501                                  445700                             20060601                        79.98999786          No MI                                               1.00E+17
           16218115                            20360501                                  580000                             20060601                                 80          No MI                                               1.00E+17
           16218116                            20360401                                  472500                             20060501                        79.98999786          No MI                                               1.00E+17
           16218117                            20360501                                  562500                             20060601                                 90          GE Capital MI                                       1.00E+17
           16218118                            20360501                                  584908                             20060601                                 80          No MI                                               1.00E+17
           16218119                            20360501                                  991500                             20060601                        74.98999786          No MI                                               1.00E+17
           16218107                            20360401                                  484000                             20060501                                 80          No MI                                               1.00E+17
           16218108                            20360401                                  452600                             20060501                        79.98999786          No MI                                               1.00E+17
           16218109                            20360401                                  496000                             20060501                                 80          No MI                                               1.00E+17
           16218120                            20360401                                  597100                             20060501                                 80          No MI                                               1.00E+17
           16218121                            20360401                                  639950                             20060501                        79.98999786          No MI                                               1.00E+17
           16218122                            20360501                                  542500                             20060601                        61.22999954          No MI                                               1.00E+17
           16218123                            20360501                                  467550                             20060601                        79.56999969          No MI                                               1.00E+17
           16218124                            20360501                                  471600                             20060601                                 80          No MI                                               1.00E+17
           16218125                            20360501                                  508000                             20060601                                 80          No MI                                               1.00E+17
           16218110                            20360501                                  444550                             20060601                                 80          No MI                                               1.00E+17
           16218111                            20360501                                  510000                             20060601                        71.33000183          No MI                                               1.00E+17
           16218112                            20360401                                  535500                             20060501                                 70          No MI                                               1.00E+17
           16218083                            20360501                                  606154                             20060601                                 80          No MI                                               1.00E+17
           16218084                            20360401                                  510000                             20060501                              66.75          No MI                                               1.00E+17
           16218085                            20360501                                  504000                             20060601                                 80          No MI                                               1.00E+17
           16218086                            20360501                                  908000                             20060601                                 80          No MI                                               1.00E+17
           16218087                            20360501                                  294392                             20060601                                 80          No MI                                               1.00E+17
           16218088                            20360501                                  960000                             20060601                                 80          No MI                                               1.00E+17
           16218089                            20360401                                  962500                             20060501                                 55          No MI                                               1.00E+17
           16218090                            20360401                                  656500                             20060501                        66.65000153          No MI                                               1.00E+17
           16218091                            20360401                                  495000                             20060501                        56.90000153          No MI                                               1.00E+17
           16218092                            20360401                                  561000                             20060501                        72.38999939          No MI                                               1.00E+17
           16218093                            20360501                                  656000                             20060601                                 80          No MI                                               1.00E+17
           16218094                            20360401                                  697356                             20060501                                 80          No MI                                               1.00E+17
           16218095                            20360401                                  730000                             20060501                        76.83999634          No MI                                               1.00E+17
           16218096                            20360401                                  743100                             20060501                                 80          No MI                                               1.00E+17
           16218097                            20360401                                  577500                             20060501                                 70          No MI                                               1.00E+17
           16218098                            20360401                                  452800                             20060501                                 80          No MI                                               1.00E+17
           16218099                            20360501                                 1000000                             20060601                        76.91999817          No MI                                               1.00E+17
           16218300                            20360501                                  504000                             20060601                                 70          No MI                                               1.00E+17
           16218301                            20360501                                  452000                             20060601                                 80          No MI                                               1.00E+17
           16218302                            20360501                                  420000                             20060601                                 80          No MI                                               1.00E+17
           16218303                            20360501                                  560000                             20060601                                 80          No MI                                               1.00E+17
           16218304                            20360501                                 1000000                             20060601                        77.51999664          No MI                                               1.00E+17
           16218305                            20360501                                  442400                             20060601                                 80          No MI                                               1.00E+17
           16218306                            20360501                                  719200                             20060601                                 80          No MI                                               1.00E+17
           16218307                            20360501                                  864000                             20060601                        69.12000275          No MI                                               1.00E+17
           16218308                            20360501                                  435000                             20060601                        43.72000122          No MI                                               1.00E+17
           16218309                            20360501                                  552000                             20060601                                 80          No MI                                               1.00E+17
           16218310                            20360501                                  448000                             20060601                                 80          No MI                                               1.00E+17
           16218311                            20360501                                  451950                             20060601                                 80          No MI                                               1.00E+17
           16218312                            20360501                                  435000                             20060601                        78.37999725          No MI                                               1.00E+17
           16218313                            20360501                                  479200                             20060601                        79.87999725          No MI                                               1.00E+17
           16218314                            20360501                                  751800                             20060601                                 80          No MI                                               1.00E+17
           16218315                            20360501                                  497600                             20060601                                 80          No MI                                               1.00E+17
           16218316                            20360501                                  908000                             20060601                                 80          No MI                                               1.00E+17
           16218317                            20360501                                 1540000                             20060601                                 70          No MI                                               1.00E+17
           16218318                            20360501                                  792000                             20060601                                 80          No MI                                               1.00E+17
           16218319                            20360501                                  430000                             20060601                                 80          No MI                                               1.00E+17
           16218320                            20360501                                  742000                             20060601                        74.56999969          No MI                                               1.00E+17
           16218321                            20360501                                  824000                             20060601                                 80          No MI                                               1.00E+17
           16218322                            20360501                                  500000                             20060601                        49.02000046          No MI                                               1.00E+17
           16218323                            20360501                                  560000                             20060601                                 80          No MI                                               1.00E+17
           16218324                            20360601                                  424000                             20060701                                 80          No MI                                               1.00E+17
           16218325                            20360501                                  670000                             20060601                        74.44000244          No MI                                               1.00E+17
           16218326                            20360501                                  520000                             20060601                                 80          No MI                                               1.00E+17
           16218327                            20360501                                  646000                             20060601                        61.75999832          No MI                                               1.00E+17
           16218328                            20360601                                  435000                             20060701                        50.58000183          No MI                                               1.00E+17
           16218329                            20360501                                  708000                             20060601                                 80          No MI                                               1.00E+17
           16218330                            20360501                                  453111                             20060601                                 80          No MI                                               1.00E+17
           16218331                            20360501                                  457850                             20060601                                 80          No MI                                               1.00E+17
           16218332                            20360501                                  800000                             20060601                        76.91999817          No MI                                               1.00E+17
           16218220                            20360501                                  540000                             20060601                                 80          No MI                                               1.00E+17
           16218221                            20360501                                  632000                             20060601                                 80          No MI                                               1.00E+17
           16218222                            20360501                                  696500                             20060601                                 70          No MI                                               1.00E+17
           16218223                            20360501                                  672000                             20060601                                 80          No MI                                               1.00E+17
           16218224                            20360501                                  504000                             20060601                                 80          No MI                                               1.00E+17
           16218225                            20360501                                  492000                             20060601                                 80          No MI                                               1.00E+17
           16218200                            20360501                                 1443750                             20060601                                 75          No MI                                               1.00E+17
           16218201                            20360501                                  850000                             20060601                        70.88999939          No MI                                               1.00E+17
           16218202                            20360501                                 1000000                             20060601                        73.52999878          No MI                                               1.00E+17
           16218203                            20360501                                 1020000                             20060601                        53.68000031          No MI                                               1.00E+17
           16218204                            20360501                                  650000                             20060601                        73.94999695          No MI                                               1.00E+17
           16218205                            20360501                                  579800                             20060601                        79.98999786          No MI                                               1.00E+17
           16218206                            20360501                                  426400                             20060601                                 80          No MI                                               1.00E+17
           16218207                            20360501                                 1497900                             20060601                        57.61000061          No MI                                               1.00E+17
           16218208                            20360501                                  595000                             20060601                        69.19000244          No MI                                               1.00E+17
           16218209                            20360501                                  650000                             20060601                        77.37999725          No MI                                               1.00E+17
           16218210                            20360501                                 1000000                             20060601                        58.81999969          No MI                                               1.00E+17
           16218211                            20360501                                  736000                             20060601                                 80          No MI                                               1.00E+17
           16218212                            20360501                                  764000                             20060601                                 80          No MI                                               1.00E+17
           16218213                            20360501                                  800000                             20060601                                 80          No MI                                               1.00E+17
           16218214                            20360501                                  517173                             20060601                                 80          No MI                                               1.00E+17
           16218215                            20360501                                  478000                             20060601                        56.90000153          No MI                                               1.00E+17
           16218216                            20360501                                  631500                             20060601                        56.63999939          No MI                                               1.00E+17
           16218217                            20360501                                  428000                             20060601                        71.93000031          No MI                                               1.00E+17
           16218218                            20360501                                  849473                             20060601                                 80          No MI                                               1.00E+17
           16218256                            20360501                                  696000                             20060601                                 80          No MI                                               1.00E+17
           16218257                            20360501                                  436800                             20060601                        62.31000137          No MI                                               1.00E+17
           16218258                            20360501                                  496000                             20060601                                 80          No MI                                               1.00E+17
           16218259                            20360501                                 1110000                             20060601                        54.15000153          No MI                                               1.00E+17
           16218260                            20360501                                  451700                             20060601                        54.41999817          No MI                                               1.00E+17
           16218261                            20360501                                  448000                             20060601                                 80          No MI                                               1.00E+17
           16218262                            20360501                                  441000                             20060601                        72.88999939          No MI                                               1.00E+17
           16218263                            20360501                                  151950                             20060601                        92.08999634          Triad Guaranty                                      1.00E+17
           16218264                            20360501                                  584000                             20060601                                 80          No MI                                               1.00E+17
           16218265                            20360501                                  520000                             20060601                                 80          No MI                                               1.00E+17
           16218266                            20360501                                  860000                             20060601                                 80          No MI                                               1.00E+17
           16218267                            20360501                                  595200                             20060601                                 80          No MI                                               1.00E+17
           16218268                            20360501                                  716000                             20060601                                 80          No MI                                               1.00E+17
           16218269                            20360501                                  531200                             20060601                                 80          No MI                                               1.00E+17
           16218253                            20360501                                  476000                             20060601                        79.98000336          No MI                                               1.00E+17
           16218270                            20360501                                  489300                             20060601                                 70          No MI                                               1.00E+17
           16218271                            20360501                                  464000                             20060601                                 80          No MI                                               1.00E+17
           16218272                            20360501                                  744000                             20060601                                 80          No MI                                               1.00E+17
           16218273                            20360501                                  590500                             20060601                        78.73000336          No MI                                               1.00E+17
           16218274                            20360501                                  579600                             20060601                                 80          No MI                                               1.00E+17
           16218275                            20360501                                  550000                             20060601                        59.13999939          No MI                                               1.00E+17
           16218276                            20360501                                  788000                             20060601                                 80          No MI                                               1.00E+17
           16218277                            20360501                                 1000000                             20060601                        76.91999817          No MI                                               1.00E+17
           16218278                            20360501                                  650000                             20060601                        70.83999634          No MI                                               1.00E+17
           16218279                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16218280                            20360501                                  650000                             20060601                        79.26999664          No MI                                               1.00E+17
           16218281                            20360501                                  635000                             20060601                        75.59999847          No MI                                               1.00E+17
           16218282                            20360501                                  808000                             20060601                                 80          No MI                                               1.00E+17
           16218283                            20360501                                  495202                             20060601                                 80          No MI                                               1.00E+17
           16218284                            20360501                                  650000                             20060601                        74.62999725          No MI                                               1.00E+17
           16218285                            20360501                                  444000                             20060601                                 80          No MI                                               1.00E+17
           16218286                            20360501                                  504000                             20060601                                 80          No MI                                               1.00E+17
           16218287                            20360501                                  440000                             20060601                                 80          No MI                                               1.00E+17
           16218288                            20360501                                  443200                             20060601                                 80          No MI                                               1.00E+17
           16218289                            20360501                                  680000                             20060601                        68.69000244          No MI                                               1.00E+17
           16218290                            20360501                                  460000                             20060601                                 80          No MI                                               1.00E+17
           16218291                            20360501                                  536000                             20060601                                 80          No MI                                               1.00E+17
           16218292                            20360501                                  494350                             20060601                                 80          No MI                                               1.00E+17
           16218293                            20360501                                  638050                             20060601                        89.98999786          United Guaranty                                     1.00E+17
           16218294                            20360501                                  530252                             20060601                                 80          No MI                                               1.00E+17
           16218295                            20360501                                  555001                             20060601                        61.66999817          No MI                                               1.00E+17
           16218296                            20360501                                  448000                             20060601                                 80          No MI                                               1.00E+17
           16218297                            20360501                                  576000                             20060601                                 80          No MI                                               1.00E+17
           16218298                            20360501                                  600000                             20060601                        79.16000366          No MI                                               1.00E+17
           16218299                            20360501                                  430000                             20060601                        56.58000183          No MI                                               1.00E+17
           16218254                            20360501                                  640385                             20060601                        67.98000336          No MI                                               1.00E+17
           16218255                            20360501                                  430000                             20060601                        78.47000122          No MI                                               1.00E+17
           16199805                            20360401                                 1000000                             20060501                        72.19999695          No MI                                               1.00E+17
           16199806                            20360401                                  540000                             20060501                                 72          No MI                                               1.00E+17
           16199807                            20360501                                  650000                             20060601                        69.88999939          No MI                                               1.00E+17
           16199808                            20360501                                  633900                             20060601                        66.73000336          No MI                                               1.00E+17
           16199809                            20360401                                  620000                             20060501                                 80          No MI                                               1.00E+17
           16199810                            20360501                                 1200000                             20060601                                 80          No MI                                               1.00E+17
           16199811                            20360501                                  615200                             20060601                                 80          No MI                                               1.00E+17
           16199812                            20360501                                  430000                             20060601                        59.31000137          No MI                                               1.00E+17
           16199813                            20360501                                  507200                             20060601                        76.26999664          No MI                                               1.00E+17
           16199814                            20360501                                 1000000                             20060601                        74.62999725          No MI                                               1.00E+17
           16199815                            20360501                                 1000000                             20060601                        71.43000031          No MI                                               1.00E+17
           16199816                            20360501                                  624000                             20060601                                 80          No MI                                               1.00E+17
           16199817                            20360501                                  445000                             20060601                        55.27999878          No MI                                               1.00E+17
           16199818                            20360401                                  635000                             20060501                        75.77999878          No MI                                               1.00E+17
           16199819                            20360401                                  900000                             20060501                              56.25          No MI                                               1.00E+17
           16199820                            20360501                                  999999                             20060601                        70.91999817          No MI                                               1.00E+17
           16199821                            20360501                                  789106                             20060601                                 80          No MI                                               1.00E+17
           16199822                            20360501                                  880000                             20060601                                 80          No MI                                               1.00E+17
           16199823                            20360401                                  710000                             20060501                                 80          No MI                                               1.00E+17
           16199824                            20360401                                  575692                             20060501                        79.73999786          No MI                                               1.00E+17
           16199825                            20360501                                  540000                             20060601                        71.05000305          No MI                                               1.00E+17
           16199826                            20360401                                  433910                             20060501                        68.44999695          No MI                                               1.00E+17
           16199827                            20360501                                  492000                             20060601                        77.48000336          No MI                                               1.00E+17
           16199829                            20360501                                  735000                             20060601                                 70          No MI                                               1.00E+17
           16199830                            20360501                                 1000000                             20060601                        76.91999817          No MI                                               1.00E+17
           16199831                            20360501                                 1680000                             20060601                                 80          No MI                                               1.00E+17
           16199832                            20360501                                  540000                             20060601                        63.90999985          No MI                                               1.00E+17
           16199833                            20360501                                  441000                             20060601                        55.81999969          No MI                                               1.00E+17
           16199834                            20360401                                  711600                             20060501                        75.79000092          No MI                                               1.00E+17
           16199835                            20360501                                  900000                             20060601                        21.43000031          No MI                                               1.00E+17
           16199836                            20360501                                  500000                             20060601                        60.97999954          No MI                                               1.00E+17
           16199837                            20360401                                  533450                             20060501                                 80          No MI                                               1.00E+17
           16199838                            20360501                                  450000                             20060601                        35.29000092          No MI                                               1.00E+17
           16199839                            20360501                                  527200                             20060601                                 80          No MI                                               1.00E+17
           16199840                            20360501                                  512000                             20060601                                 80          No MI                                               1.00E+17
           16199841                            20360501                                  964000                             20060601                                 80          No MI                                               1.00E+17
           16199842                            20360501                                  960000                             20060601                                 80          No MI                                               1.00E+17
           16199843                            20360501                                  469000                             20060601                                 70          No MI                                               1.00E+17
           16199844                            20360501                                  440000                             20060601                        69.83999634          No MI                                               1.00E+17
           16199845                            20360501                                  720000                             20060601                        72.73000336          No MI                                               1.00E+17
           16199846                            20360501                                  567000                             20060601                        73.91999817          No MI                                               1.00E+17
           16199847                            20360501                                  750000                             20060601                        41.31999969          No MI                                               1.00E+17
           16199848                            20360501                                  700000                             20060601                        66.66999817          No MI                                               1.00E+17
           16199849                            20360501                                  458105                             20060601                                 80          No MI                                               1.00E+17
           16199850                            20360501                                  740000                             20060601                                 80          No MI                                               1.00E+17
           16199851                            20360501                                  520000                             20060601                                 80          No MI                                               1.00E+17
           16199852                            20360401                                  622000                             20060501                              69.75          No MI                                               1.00E+17
           16199853                            20360201                               649949.79                             20060301                        46.41999817          No MI
           16199854                            20360101                               798675.31                             20060201                        66.55999756          No MI                                               1.00E+17
           16199855                            20360501                                  596000                             20060601                                 80          No MI                                               1.00E+17
           16199795                            20360501                                  532000                             20060601                        58.13999939          No MI                                               1.00E+17
           16199796                            20360501                                  559200                             20060601                                 80          No MI                                               1.00E+17
           16199797                            20360501                                  788000                             20060601                                 80          No MI                                               1.00E+17
           16199798                            20360501                                 1000000                             20060601                        35.70999908          No MI                                               1.00E+17
           16199799                            20360501                                  438400                             20060601                                 80          No MI                                               1.00E+17
           16199705                            20360501                                  499000                             20060601                        68.54000092          No MI                                               1.00E+17
           16199706                            20360401                                  479000                             20060501                        73.69000244          No MI                                               1.00E+17
           16199707                            20360401                                  445000                             20060501                        51.74000168          No MI                                               1.00E+17
           16199708                            20360501                                  545000                             20060601                        64.12000275          No MI                                               1.00E+17
           16199709                            20360501                                  475000                             20060601                        39.58000183          No MI                                               1.00E+17
           16199710                            20360401                                  510000                             20060501                        71.83999634          No MI                                               1.00E+17
           16199711                            20360501                                  800000                             20060601                        66.12000275          No MI                                               1.00E+17
           16199712                            20360501                                  679347                             20060601                                 80          No MI                                               1.00E+17
           16199713                            20360501                                  640000                             20060601                                 80          No MI                                               1.00E+17
           16199714                            20360401                                  538400                             20060501                                 80          No MI                                               1.00E+17
           16199715                            20360101                                  768000                             20060201                                 80          No MI                                               1.00E+17
           16199716                            20360301                                  590000                             20060401                        67.43000031          No MI                                               1.00E+17
           16199717                            20360401                                  585000                             20060501                        73.12999725          No MI                                               1.00E+17
           16199718                            20360201                                  548000                             20060301                                 80          No MI                                               1.00E+17
           16199719                            20360401                                  577600                             20060501                                 80          No MI                                               1.00E+17
           16199700                            20360401                                  665250                             20060501                                 80          No MI                                               1.00E+17
           16199701                            20360401                                  475000                             20060501                        79.69999695          No MI                                               1.00E+17
           16199702                            20360501                                  457000                             20060601                        56.41999817          No MI                                               1.00E+17
           16199703                            20360401                                  456000                             20060501                        25.32999992          No MI                                               1.00E+17
           16199704                            20360401                                 1075000                             20060501                        46.74000168          No MI                                               1.00E+17
           16199787                            20360401                                  680000                             20060501                                 80          No MI                                               1.00E+17
           16199788                            20360501                                  443920                             20060601                                 80          No MI                                               1.00E+17
           16199789                            20360401                                  426000                             20060501                                 80          No MI                                               1.00E+17
           16199790                            20360501                                  480000                             20060601                                 80          No MI                                               1.00E+17
           16199791                            20360501                                  620000                             20060601                                 80          No MI                                               1.00E+17
           16199792                            20360401                                  650000                             20060501                        68.41999817          No MI                                               1.00E+17
           16199793                            20360501                                  600000                             20060601                        73.88999939          No MI                                               1.00E+17
           16199794                            20360401                                  515000                             20060501                        79.37999725          No MI                                               1.00E+17
           16199690                            20360501                                  770000                             20060601                        71.62999725          No MI                                               1.00E+17
           16199691                            20360401                                  540000                             20060501                                 80          No MI                                               1.00E+17
           16199692                            20360401                                  530000                             20060501                        63.86000061          No MI                                               1.00E+17
           16199693                            20360401                                  437500                             20060501                                 70          No MI                                               1.00E+17
           16199694                            20360401                                  595000                             20060501                        52.41999817          No MI                                               1.00E+17
           16199695                            20360501                                  925000                             20060601                                 50          No MI                                               1.00E+17
           16199696                            20360301                                  516000                             20060401                                 80          No MI                                               1.00E+17
           16199697                            20360501                                  607000                             20060601                        43.36000061          No MI                                               1.00E+17
           16199698                            20360401                                  520000                             20060501                                 80          No MI                                               1.00E+17
           16199699                            20360401                                  900000                             20060501                                 75          No MI                                               1.00E+17
           16199680                            20360401                                  475000                             20060501                        74.80000305          No MI                                               1.00E+17
           16199681                            20360401                                  454950                             20060501                        79.98999786          No MI                                               1.00E+17
           16199682                            20360401                                  500000                             20060501                        72.98999786          No MI                                               1.00E+17
           16199683                            20360401                                  516000                             20060501                                 80          No MI                                               1.00E+17
           16199684                            20360401                                  579000                             20060501                        69.83999634          No MI                                               1.00E+17
           16199685                            20360501                                  510000                             20060601                        40.79999924          No MI                                               1.00E+17
           16199686                            20360401                                  556000                             20060501                                 80          No MI                                               1.00E+17
           16199687                            20360401                                  714000                             20060501                        79.33000183          No MI                                               1.00E+17
           16199688                            20360401                                  850000                             20060501                        56.66999817          No MI                                               1.00E+17
           16199689                            20360401                                  566250                             20060501                                 75          No MI                                               1.00E+17
           16199663                            20360401                                  760000                             20060501                                 80          No MI                                               1.00E+17
           16199664                            20360401                                  490000                             20060501                                 70          No MI                                               1.00E+17
           16199665                            20360401                                  465600                             20060501                                 80          No MI                                               1.00E+17
           16199666                            20360401                                  510600                             20060501                        75.63999939          No MI                                               1.00E+17
           16199667                            20360401                                  650000                             20060501                        68.41999817          No MI                                               1.00E+17
           16199668                            20360501                                 1610000                             20060601                                 70          No MI                                               1.00E+17
           16199669                            20360401                                  876000                             20060501                                 80          No MI                                               1.00E+17
           16199670                            20360401                                  574300                             20060501                        65.62999725          No MI                                               1.00E+17
           16199671                            20360401                                  800000                             20060501                        72.40000153          No MI                                               1.00E+17
           16199672                            20360401                                  532500                             20060501                                 75          No MI                                               1.00E+17
           16199673                            20360401                                  480000                             20060501                        67.12999725          No MI                                               1.00E+17
           16199674                            20360401                                  624000                             20060501                                 80          No MI                                               1.00E+17
           16199675                            20360401                                  496000                             20060501                                 80          No MI                                               1.00E+17
           16199676                            20360501                                  500000                             20060601                        41.66999817          No MI                                               1.00E+17
           16199677                            20360401                                  760000                             20060501                                 80          No MI                                               1.00E+17
           16199678                            20360501                                  640000                             20060601                        78.05000305          No MI                                               1.00E+17
           16199679                            20360401                                  525000                             20060501                                 70          No MI                                               1.00E+17
           16199753                            20360401                                  592000                             20060501                                 80          No MI                                               1.00E+17
           16199754                            20360501                                  675000                             20060601                               37.5          No MI                                               1.00E+17
           16199760                            20360401                                  900000                             20060501                        52.93999863          No MI                                               1.00E+17
           16199762                            20360501                                 1122000                             20060601                                 60          No MI                                               1.00E+17
           16199763                            20360401                                  776000                             20060501                                 80          No MI                                               1.00E+17
           16199764                            20360401                                  440456                             20060501                        69.91000366          No MI                                               1.00E+17
           16199765                            20360501                                  580000                             20060601                                 80          No MI                                               1.00E+17
           16199766                            20360401                                  610000                             20060501                        64.20999908          No MI                                               1.00E+17
           16199767                            20360501                                  508792                             20060601                                 80          No MI                                               1.00E+17
           16199768                            20360501                                  492000                             20060601                                 80          No MI                                               1.00E+17
           16199769                            20360501                                  460000                             20060601                                 80          No MI                                               1.00E+17
           16199770                            20360401                                  442000                             20060501                        60.13999939          No MI                                               1.00E+17
           16199771                            20360501                                  500000                             20060601                        46.99000168          No MI                                               1.00E+17
           16199772                            20360501                                  655000                             20060601                        77.98000336          No MI                                               1.00E+17
           16199773                            20360501                                  650000                             20060601                               67.5          No MI                                               1.00E+17
           16199774                            20360501                                  548000                             20060601                                 80          No MI                                               1.00E+17
           16199775                            20360501                                 1000000                             20060601                        62.45999908          No MI                                               1.00E+17
           16199776                            20360501                                  424000                             20060601                                 80          No MI                                               1.00E+17
           16199777                            20360401                                  757535                             20060501                        58.27000046          No MI                                               1.00E+17
           16199778                            20360401                                  585000                             20060501                              48.75          No MI                                               1.00E+17
           16199779                            20360401                                  880000                             20060501                                 80          No MI                                               1.00E+17
           16199780                            20360501                                  671200                             20060601                                 80          No MI                                               1.00E+17
           16199781                            20360501                                  468000                             20060601                                 80          No MI                                               1.00E+17
           16199782                            20360501                                  570068                             20060601                        75.01000214          No MI                                               1.00E+17
           16199783                            20360401                                  650000                             20060501                        76.91999817          No MI                                               1.00E+17
           16199784                            20360501                                  530000                             20060601                        60.91999817          No MI                                               1.00E+17
           16199785                            20360501                                  488000                             20060601                                 80          No MI                                               1.00E+17
           16199786                            20360501                                  448000                             20060601                                 80          No MI                                               1.00E+17
           16199755                            20360401                                  665500                             20060501                        76.05999756          No MI                                               1.00E+17
           16199756                            20360501                                  535200                             20060601                                 80          No MI                                               1.00E+17
           16199757                            20360401                                  592000                             20060501                                 80          No MI                                               1.00E+17
           16199758                            20360401                                  584000                             20060501                        78.76000214          No MI                                               1.00E+17
           16199759                            20360501                                  540000                             20060601                                 80          No MI                                               1.00E+17
           16199632                            20360401                                  497336                             20060501                                 80          No MI                                               1.00E+17
           16199633                            20360101                               487998.49                             20060201                                 80          No MI                                               1.00E+17
           16199634                            20360101                                  492269                             20060201                        76.65000153          No MI                                               1.00E+17
           16199635                            20360501                                  720000                             20060601                                 80          No MI                                               1.00E+17
           16199636                            20360501                                  610992                             20060601                                 80          No MI                                               1.00E+17
           16199637                            20360501                                  783175                             20060601                                 80          No MI                                               1.00E+17
           16199638                            20360401                                  450000                             20060501                        64.13999939          No MI                                               1.00E+17
           16199639                            20360501                                  550000                             20060601                        76.30000305          No MI                                               1.00E+17
           16199640                            20360501                                  500000                             20060601                        62.11999893          No MI                                               1.00E+17
           16199641                            20360401                                  448575                             20060501                                 80          No MI                                               1.00E+17
           16199642                            20360501                                  984725                             20060601                        65.65000153          No MI                                               1.00E+17
           16199643                            20360501                                  443576                             20060601                                 80          No MI                                               1.00E+17
           16199644                            20360401                                  457002                             20060501                                 80          No MI                                               1.00E+17
           16199645                            20360501                                  468715                             20060601                                 80          No MI                                               1.00E+17
           16199646                            20360401                                  469171                             20060501                                 80          No MI                                               1.00E+17
           16199647                            20360101                                  478600                             20060201                        76.58000183          No MI                                               1.00E+17
           16199648                            20360401                                  500000                             20060501                        58.13999939          No MI                                               1.00E+17
           16199649                            20360401                                  580000                             20060501                                 80          No MI                                               1.00E+17
           16199650                            20360401                                 1300000                             20060501                        67.52999878          No MI                                               1.00E+17
           16199651                            20360301                                  560000                             20060401                                 80          No MI                                               1.00E+17
           16199652                            20360301                                  480500                             20060401                                 80          No MI                                               1.00E+17
           16199653                            20360301                                  528000                             20060401                        70.87000275          No MI                                               1.00E+17
           16199654                            20360401                                  496000                             20060501                                 80          No MI                                               1.00E+17
           16199655                            20360401                                  630000                             20060501                        43.45000076          No MI                                               1.00E+17
           16199656                            20360401                                  514000                             20060501                        74.81999969          No MI                                               1.00E+17
           16199657                            20360401                                  710000                             20060501                        73.95999908          No MI                                               1.00E+17
           16199658                            20360401                                  965250                             20060501                                 75          No MI                                               1.00E+17
           16199659                            20360401                                  422300                             20060501                        56.68000031          No MI                                               1.00E+17
           16199660                            20360401                                 1500000                             20060501                        39.47000122          No MI                                               1.00E+17
           16199661                            20360401                                  699000                             20060501                                 75          No MI                                               1.00E+17
           16199662                            20360401                                  700000                             20060501                        55.77999878          No MI                                               1.00E+17
           16199723                            20360401                                  650000                             20060501                                 50          No MI                                               1.00E+17
           16199724                            20360501                                  447330                             20060601                                 75          No MI                                               1.00E+17
           16199725                            20360301                                 1860000                             20060401                                 80          No MI                                               1.00E+17
           16199726                            20360501                                  580148                             20060601                                 80          No MI                                               1.00E+17
           16199727                            20360501                                  596872                             20060601                                 80          No MI                                               1.00E+17
           16199728                            20360501                                  510000                             20060601                        78.45999908          No MI                                               1.00E+17
           16199729                            20360401                                 1000000                             20060501                        63.52999878          No MI                                               1.00E+17
           16199730                            20360501                                  568000                             20060601                                 80          No MI                                               1.00E+17
           16199731                            20360501                                  420000                             20060601                              79.25          No MI                                               1.00E+17
           16199732                            20360401                                  492000                             20060501                                 80          No MI                                               1.00E+17
           16199733                            20360301                                  572000                             20060401                                 80          No MI                                               1.00E+17
           16199734                            20360501                                  679920                             20060601                                 80          No MI                                               1.00E+17
           16199735                            20360501                                  488000                             20060601                                 80          No MI                                               1.00E+17
           16199736                            20360401                                  696000                             20060501                                 80          No MI                                               1.00E+17
           16199737                            20360501                                  597200                             20060601                                 80          No MI                                               1.00E+17
           16199738                            20360501                                  540000                             20060601                        67.91999817          No MI                                               1.00E+17
           16199739                            20360401                                  602000                             20060501                                 70          No MI                                               1.00E+17
           16199740                            20360501                                  608000                             20060601                                 80          No MI                                               1.00E+17
           16199741                            20360401                                  480000                             20060501                                 80          No MI                                               1.00E+17
           16199742                            20360501                                  440000                             20060601                                 80          No MI                                               1.00E+17
           16199743                            20360401                                  620000                             20060501                        42.22999954          No MI                                               1.00E+17
           16199744                            20360501                                  500000                             20060601                        29.40999985          No MI                                               1.00E+17
           16199745                            20360501                                  471920                             20060601                                 80          No MI                                               1.00E+17
           16199746                            20360401                                  600000                             20060501                        68.18000031          No MI                                               1.00E+17
           16199747                            20360401                                  560000                             20060501                        78.31999969          No MI                                               1.00E+17
           16199748                            20360501                                  465500                             20060601                                 70          No MI                                               1.00E+17
           16199749                            20360501                                  975000                             20060601                                 75          No MI                                               1.00E+17
           16199750                            20360401                                  532000                             20060501                                 80          No MI                                               1.00E+17
           16199751                            20360401                                  654000                             20060501                                 80          No MI                                               1.00E+17
           16199752                            20360501                                 1000000                             20060601                        74.08000183          No MI                                               1.00E+17
           16199720                            20360301                                  559264                             20060401                                 80          No MI                                               1.00E+17
           16199721                            20360501                                 1000000                             20060601                        57.13999939          No MI                                               1.00E+17
           16199722                            20360401                                  500000                             20060501                                 80          No MI                                               1.00E+17
           16232382                            20350901                                  468000                             20051001                                 80          No MI                                               1.00E+17
           16199856                            20360401                                  500000                             20060501                        33.33000183          No MI                                               1.00E+17
           16199857                            20360501                                  999900                             20060601                        79.87999725          No MI                                               1.00E+17
           16199800                            20360501                                  904000                             20060601                                 80          No MI                                               1.00E+17
           16199801                            20360501                                  460000                             20060601                                 80          No MI                                               1.00E+17
           16199802                            20360501                                  650000                             20060601                        59.09000015          No MI                                               1.00E+17
           16199803                            20360501                                 1500000                             20060601                        45.45000076          No MI                                               1.00E+17
           16199804                            20360501                                  452000                             20060601                                 80          No MI                                               1.00E+17
           16218700                            20360501                                  456000                             20060601                                 80          No MI                                               1.00E+17
           16218701                            20360501                                  837000                             20060601                        68.33000183          No MI                                               1.00E+17
           16218702                            20360501                                  439500                             20060601                        79.62000275          No MI                                               1.00E+17
           16218703                            20360501                                  623200                             20060601                                 80          No MI                                               1.00E+17
           16218704                            20360501                                  450000                             20060601                        66.66999817          No MI                                               1.00E+17
           16218705                            20360501                                  808000                             20060601                                 80          No MI                                               1.00E+17
           16218706                            20360501                                  496000                             20060601                                 80          No MI                                               1.00E+17
           16218707                            20360501                                  608000                             20060601                                 80          No MI                                               1.00E+17
           16218708                            20360501                                  560000                             20060601                        71.79000092          No MI                                               1.00E+17
           16218709                            20360501                                  735500                             20060601                        75.05000305          No MI                                               1.00E+17
           16218710                            20360501                                  600000                             20060601                        73.16999817          No MI                                               1.00E+17
           16218711                            20360501                                  528000                             20060601                                 80          No MI                                               1.00E+17
           16218712                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16218713                            20360501                                  920000                             20060601                                 80          No MI                                               1.00E+17
           16218714                            20360501                                  550000                             20060601                        39.86000061          No MI                                               1.00E+17
           16218715                            20360501                                  482838                             20060601                                 80          No MI                                               1.00E+17
           16218716                            20360501                                  450000                             20060601                        56.95999908          No MI                                               1.00E+17
           16218717                            20360501                                  794664                             20060601                                 80          No MI                                               1.00E+17
           16218718                            20360501                                  465600                             20060601                                 80          No MI                                               1.00E+17
           16218719                            20360501                                  956000                             20060601                                 80          No MI                                               1.00E+17
           16218720                            20360501                                  420000                             20060601                                 75          No MI                                               1.00E+17
           16218721                            20360501                                  511200                             20060601                                 80          No MI                                               1.00E+17
           16218722                            20360501                                  488000                             20060601                                 80          No MI                                               1.00E+17
           16218723                            20360501                                  592000                             20060601                                 80          No MI                                               1.00E+17
           16218724                            20360501                                  822352                             20060601                                 80          No MI                                               1.00E+17
           16218725                            20360501                                  572405                             20060601                                 80          No MI                                               1.00E+17
           16218624                            20360501                                  680000                             20060601                                 80          No MI                                               1.00E+17
           16218625                            20360501                                  596000                             20060601                                 80          No MI                                               1.00E+17
           16218626                            20360501                                  520000                             20060601                        68.41999817          No MI                                               1.00E+17
           16218627                            20360501                                  548000                             20060601                                 80          No MI                                               1.00E+17
           16218628                            20360501                                  429250                             20060601                                 85          PMI                                                 1.00E+17
           16218629                            20360401                                  424000                             20060501                        77.26000214          No MI                                               1.00E+17
           16218630                            20360501                                  496160                             20060601                        79.94000244          No MI                                               1.00E+17
           16218631                            20360501                                  566400                             20060601                                 80          No MI                                               1.00E+17
           16218632                            20360501                                  427016                             20060601                                 80          No MI                                               1.00E+17
           16218633                            20360501                                  880000                             20060601                                 80          No MI                                               1.00E+17
           16218634                            20360501                                  564000                             20060601                                 80          No MI                                               1.00E+17
           16218635                            20360501                                  550000                             20060601                        66.06999969          No MI                                               1.00E+17
           16218636                            20360501                                  622950                             20060601                                 80          No MI                                               1.00E+17
           16218637                            20360501                                  540000                             20060601                                 80          No MI                                               1.00E+17
           16218638                            20360501                                  495200                             20060601                                 80          No MI                                               1.00E+17
           16218639                            20360501                                  600000                             20060601                        68.56999969          No MI                                               1.00E+17
           16218640                            20360501                                 2000000                             20060601                        63.49000168          No MI                                               1.00E+17
           16218641                            20360501                                  552000                             20060601                                 80          No MI                                               1.00E+17
           16218642                            20360501                                  995000                             20060601                              65.25          No MI                                               1.00E+17
           16218643                            20360501                                  860000                             20060601                                 80          No MI                                               1.00E+17
           16218644                            20360501                                  450000                             20060601                        65.22000122          No MI                                               1.00E+17
           16218645                            20360501                                  480000                             20060601                                 80          No MI                                               1.00E+17
           16218646                            20360501                                  500000                             20060601                        60.61000061          No MI                                               1.00E+17
           16218647                            20360501                                 1965000                             20060601                        56.13999939          No MI                                               1.00E+17
           16218648                            20360501                                  579200                             20060601                                 80          No MI                                               1.00E+17
           16218649                            20360501                                  650000                             20060601                               74.5          No MI                                               1.00E+17
           16218650                            20360401                                  476000                             20060501                                 34          No MI                                               1.00E+17
           16218651                            20360401                                  650000                             20060501                        75.37000275          No MI                                               1.00E+17
           16218652                            20360501                                  614000                             20060601                                 80          No MI                                               1.00E+17
           16218653                            20360501                                  565000                             20060601                        66.47000122          No MI                                               1.00E+17
           16218654                            20360501                                  639680                             20060601                                 80          No MI                                               1.00E+17
           16218655                            20360501                                  700000                             20060601                                 80          No MI                                               1.00E+17
           16218656                            20360501                                  640000                             20060601                                 80          No MI                                               1.00E+17
           16218657                            20360501                                  880000                             20060601                                 80          No MI                                               1.00E+17
           16218658                            20360501                                  464000                             20060601                                 80          No MI                                               1.00E+17
           16218659                            20360501                                  596000                             20060601                                 80          No MI                                               1.00E+17
           16218660                            20360501                                  529150                             20060601                                 80          No MI                                               1.00E+17
           16218661                            20360501                                  444000                             20060601                                 80          No MI                                               1.00E+17
           16218662                            20360501                                  540000                             20060601                        49.50999832          No MI                                               1.00E+17
           16218663                            20360501                                  479960                             20060601                                 80          No MI                                               1.00E+17
           16218664                            20360501                                  600000                             20060601                                 80          No MI                                               1.00E+17
           16218665                            20360501                                  765000                             20060601                        63.22000122          No MI                                               1.00E+17
           16218666                            20360501                                  740000                             20060601                                 80          No MI                                               1.00E+17
           16218667                            20360501                                  726800                             20060601                        79.43000031          No MI                                               1.00E+17
           16218668                            20360501                                  650000                             20060601                        68.41999817          No MI                                               1.00E+17
           16218669                            20360501                                  450000                             20060601                        31.90999985          No MI                                               1.00E+17
           16218670                            20360501                                  856000                             20060601                                 80          No MI                                               1.00E+17
           16218671                            20360501                                  431950                             20060601                        79.98999786          No MI                                               1.00E+17
           16218672                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16218673                            20360401                                  480000                             20060501                                 80          No MI                                               1.00E+17
           16218674                            20360501                                  590000                             20060601                        66.13999939          No MI                                               1.00E+17
           16218675                            20360501                                  655960                             20060601                                 80          No MI                                               1.00E+17
           16218676                            20360501                                  560000                             20060601                        78.31999969          No MI                                               1.00E+17
           16218677                            20360501                                  696000                             20060601                        63.27000046          No MI                                               1.00E+17
           16218678                            20360501                                  738000                             20060601                        67.70999908          No MI                                               1.00E+17
           16218679                            20360501                                  650000                             20060601                        75.58000183          No MI                                               1.00E+17
           16218680                            20360501                                  565000                             20060601                        42.63999939          No MI                                               1.00E+17
           16218681                            20360501                                  495000                             20060601                        69.23000336          No MI                                               1.00E+17
           16218682                            20360501                                  956000                             20060601                                 80          No MI                                               1.00E+17
           16218683                            20360501                                  480000                             20060601                                 80          No MI                                               1.00E+17
           16218684                            20360501                                  440000                             20060601                        76.51999664          No MI                                               1.00E+17
           16218685                            20360501                                  460800                             20060601                        79.44999695          No MI                                               1.00E+17
           16218686                            20360501                                  479900                             20060601                                 80          No MI                                               1.00E+17
           16218687                            20360501                                  800000                             20060601                                 80          No MI                                               1.00E+17
           16218688                            20360501                                  460000                             20060601                                 80          No MI                                               1.00E+17
           16218689                            20360501                                  537000                             20060601                        78.38999939          No MI                                               1.00E+17
           16218690                            20360501                                  470000                             20060601                        69.62999725          No MI                                               1.00E+17
           16218691                            20360501                                  546000                             20060601                        74.29000092          No MI                                               1.00E+17
           16218692                            20360501                                  634209                             20060601                                 80          No MI                                               1.00E+17
           16218693                            20360501                                  638000                             20060601                        69.73000336          No MI                                               1.00E+17
           16218694                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16218695                            20360501                                  629600                             20060601                                 80          No MI                                               1.00E+17
           16218696                            20360501                                  499200                             20060601                                 80          No MI                                               1.00E+17
           16218697                            20360501                                 1000000                             20060601                        68.58999634          No MI                                               1.00E+17
           16218608                            20360401                                  580065                             20060501                                 80          No MI                                               1.00E+17
           16218609                            20360501                                  861000                             20060601                              71.75          No MI                                               1.00E+17
           16218698                            20360501                                  419050                             20060601                        79.98999786          No MI                                               1.00E+17
           16218699                            20360501                                  541000                             20060601                        79.91000366          No MI                                               1.00E+17
           16223053                            20360501                               447929.27                             20060601                        69.44999695          No MI                                               1.00E+17
           16223054                            20360501                                 1350000                             20060601                                 75          No MI                                               1.00E+17
           16223055                            20360501                                  575000                             20060601                        77.80999756          No MI                                               1.00E+17
           16223056                            20360501                                  440000                             20060601                        51.75999832          No MI                                               1.00E+17
           16223057                            20360501                                  575000                             20060601                        67.65000153          No MI                                               1.00E+17
           16223058                            20360601                                  450871                             20060701                                 80          No MI                                               1.00E+17
           16223059                            20360601                                  607000                             20060701                        71.83000183          No MI                                               1.00E+17
           16218610                            20360401                                  439920                             20060501                                 80          No MI                                               1.00E+17
           16218611                            20360501                                  440000                             20060601                        69.83999634          No MI                                               1.00E+17
           16218612                            20360501                                  580000                             20060601                                 80          No MI                                               1.00E+17
           16218613                            20360501                                  631200                             20060601                                 80          No MI                                               1.00E+17
           16218614                            20360501                                  470400                             20060601                                 80          No MI                                               1.00E+17
           16218615                            20360501                                  780000                             20060601                                 80          No MI                                               1.00E+17
           16218616                            20360501                                  551600                             20060601                        79.94000244          No MI                                               1.00E+17
           16218617                            20360501                                  543000                             20060601                        61.70000076          No MI                                               1.00E+17
           16218618                            20360401                                  542350                             20060501                                 80          No MI                                               1.00E+17
           16218619                            20360401                                  507600                             20060501                        79.98000336          No MI                                               1.00E+17
           16218620                            20360501                                  441000                             20060601                        52.31000137          No MI                                               1.00E+17
           16218621                            20360401                                  436000                             20060501                                 80          No MI                                               1.00E+17
           16218622                            20360501                                  584000                             20060601                                 80          No MI                                               1.00E+17
           16218623                            20360401                                  552000                             20060501                                 80          No MI                                               1.00E+17
           16218600                            20360401                                  731200                             20060501                                 80          No MI                                               1.00E+17
           16218601                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16218602                            20360501                                  569000                             20060601                        69.38999939          No MI                                               1.00E+17
           16218603                            20360501                                  450000                             20060601                        79.37000275          No MI                                               1.00E+17
           16218604                            20360401                                 1000000                             20060501                        64.94000244          No MI                                               1.00E+17
           16218605                            20360501                                  640000                             20060601                        55.65000153          No MI                                               1.00E+17
           16218606                            20360501                                  646100                             20060601                                 80          No MI                                               1.00E+17
           16218607                            20360401                                  618000                             20060501                        72.70999908          No MI                                               1.00E+17
           16218597                            20360501                                  485100                             20060601                                 90          PMI                                                 1.00E+17
           16218598                            20360401                                  660000                             20060501                        69.47000122          No MI                                               1.00E+17
           16218599                            20360501                                  733694                             20060601                                 80          No MI                                               1.00E+17
           16218570                            20360501                                  794204                             20060601                                 80          No MI                                               1.00E+17
           16218571                            20360501                                  499900                             20060601                                 80          No MI                                               1.00E+17
           16218572                            20360501                                  788339                             20060601                                 80          No MI                                               1.00E+17
           16218573                            20360501                                  620000                             20060601                        76.70999908          No MI                                               1.00E+17
           16218574                            20360501                                  727284                             20060601                                 80          No MI                                               1.00E+17
           16218575                            20360501                                  455000                             20060601                                 70          No MI                                               1.00E+17
           16218576                            20360401                                  535000                             20060501                        79.26000214          No MI                                               1.00E+17
           16218577                            20360401                                  800000                             20060501                        61.54000092          No MI                                               1.00E+17
           16218578                            20360401                                 1352500                             20060501                        54.75999832          No MI                                               1.00E+17
           16218579                            20360401                                  960000                             20060501                        73.84999847          No MI                                               1.00E+17
           16218580                            20360501                                  574500                             20060601                                 80          No MI                                               1.00E+17
           16218581                            20360401                                  650000                             20060501                        78.22000122          No MI                                               1.00E+17
           16218582                            20360401                                  501500                             20060501                        77.15000153          No MI                                               1.00E+17
           16218583                            20360501                                  560000                             20060601                                 80          No MI                                               1.00E+17
           16218584                            20360401                                  521500                             20060501                        72.94000244          No MI                                               1.00E+17
           16218585                            20360401                                  425000                             20060501                        64.88999939          No MI                                               1.00E+17
           16218586                            20360401                                  569240                             20060501                                 80          No MI                                               1.00E+17
           16218587                            20360501                                 1000000                             20060601                        69.93000031          No MI                                               1.00E+17
           16218588                            20360501                                  468000                             20060601                               58.5          No MI                                               1.00E+17
           16218589                            20360501                                  680000                             20060601                                 80          No MI                                               1.00E+17
           16218590                            20360501                                  440000                             20060601                        62.86000061          No MI                                               1.00E+17
           16218591                            20360501                                  520000                             20060601                        73.76000214          No MI                                               1.00E+17
           16218592                            20360501                                  490000                             20060601                                 70          No MI                                               1.00E+17
           16218593                            20360501                                  458100                             20060601                                 80          No MI                                               1.00E+17
           16218594                            20360501                                  586350                             20060601                                 80          No MI                                               1.00E+17
           16218595                            20360401                                  572000                             20060501                                 80          No MI                                               1.00E+17
           16218596                            20360501                                  597100                             20060601                                 70          No MI                                               1.00E+17
           16232384                            20350701                                  900000                             20050801                        67.16000366          No MI                                               1.00E+17
           16218960                            20360501                                 2000000                             20060601                        67.80000305          No MI                                               1.00E+17
           16218961                            20360501                                  540000                             20060601                                 80          No MI                                               1.00E+17
           16218962                            20360501                                 1470000                             20060601                                 70          No MI                                               1.00E+17
           16218963                            20360501                                  496000                             20060601                        76.30999756          No MI                                               1.00E+17
           16218964                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16218965                            20360501                                  639960                             20060601                                 80          No MI                                               1.00E+17
           16218966                            20360501                                  157000                             20060601                        71.36000061          No MI                                               1.00E+17
           16218967                            20360501                                 1179300                             20060601                        42.11999893          No MI                                               1.00E+17
           16218968                            20360501                                  580000                             20060601                               72.5          No MI                                               1.00E+17
           16218969                            20360501                                  830000                             20060601                        67.48000336          No MI                                               1.00E+17
           16218970                            20360501                                 1100000                             20060601                        48.88999939          No MI                                               1.00E+17
           16218971                            20360501                                  748000                             20060601                                 80          No MI                                               1.00E+17
           16218972                            20360501                                  509000                             20060601                        78.30999756          No MI                                               1.00E+17
           16218973                            20360501                                  550000                             20060601                        73.33000183          No MI                                               1.00E+17
           16218974                            20360501                                  704500                             20060601                        48.59000015          No MI                                               1.00E+17
           16218975                            20360501                                  421718                             20060601                        71.97000122          No MI                                               1.00E+17
           16218976                            20360501                                  645000                             20060601                        78.66000366          No MI                                               1.00E+17
           16218977                            20360501                                  530000                             20060601                        60.56999969          No MI                                               1.00E+17
           16218978                            20360501                                  450000                             20060601                        53.56999969          No MI                                               1.00E+17
           16218979                            20360501                                 1000000                             20060601                        59.34999847          No MI                                               1.00E+17
           16218980                            20360501                                  430000                             20060601                        65.15000153          No MI                                               1.00E+17
           16218981                            20360501                                  984000                             20060601                                 80          No MI                                               1.00E+17
           16218982                            20360601                                  604000                             20060701                                 80          No MI                                               1.00E+17
           16218983                            20360501                                  650000                             20060601                              79.75          No MI                                               1.00E+17
           16218984                            20360501                                  588000                             20060601                                 80          No MI                                               1.00E+17
           16218985                            20360501                                  535000                             20060601                               53.5          No MI                                               1.00E+17
           16218986                            20360501                                  448000                             20060601                        40.72999954          No MI                                               1.00E+17
           16218987                            20360501                                  432000                             20060601                                 80          No MI                                               1.00E+17
           16218988                            20360501                                 1192300                             20060601                                 75          No MI                                               1.00E+17
           16218989                            20360501                                  800000                             20060601                                 25          No MI                                               1.00E+17
           16218990                            20360501                                  479200                             20060601                                 80          No MI                                               1.00E+17
           16218991                            20360501                                  709200                             20060601                                 80          No MI                                               1.00E+17
           16218992                            20360601                                  536250                             20060701                                 75          No MI                                               1.00E+17
           16218993                            20360501                                 1455000                             20060601                                 60          No MI                                               1.00E+17
           16218994                            20360501                                  733000                             20060601                        71.16999817          No MI                                               1.00E+17
           16218995                            20360501                                 1100000                             20060601                        70.33000183          No MI                                               1.00E+17
           16218996                            20360501                                  650000                             20060601                        75.58000183          No MI                                               1.00E+17
           16218997                            20360601                                  460964                             20060701                                 80          No MI                                               1.00E+17
           16218998                            20360501                                  420000                             20060601                                 70          No MI                                               1.00E+17
           16218999                            20360501                                  567000                             20060601                        79.30000305          No MI                                               1.00E+17
           16218940                            20360501                                  500000                             20060601                        20.20000076          No MI                                               1.00E+17
           16218941                            20360501                                  600000                             20060601                                 80          No MI                                               1.00E+17
           16218942                            20360501                                  956000                             20060601                                 80          No MI                                               1.00E+17
           16218943                            20360501                                  431200                             20060601                        64.94000244          No MI                                               1.00E+17
           16218944                            20360501                                  467000                             20060601                        60.88999939          No MI                                               1.00E+17
           16218945                            20360501                                  572800                             20060601                                 80          No MI                                               1.00E+17
           16218946                            20360501                                  532560                             20060601                                 80          No MI                                               1.00E+17
           16218947                            20360501                                  600000                             20060601                        69.76999664          No MI                                               1.00E+17
           16218948                            20360501                                  460000                             20060601                                 80          No MI                                               1.00E+17
           16218949                            20360501                                  995000                             20060601                        71.06999969          No MI                                               1.00E+17
           16218950                            20360501                                  548000                             20060601                        47.65000153          No MI                                               1.00E+17
           16218951                            20360501                                  829200                             20060601                                 80          No MI                                               1.00E+17
           16218952                            20360501                                  560000                             20060601                                 80          No MI                                               1.00E+17
           16218953                            20360501                                  680000                             20060601                                 80          No MI                                               1.00E+17
           16218954                            20360501                                  800000                             20060601                        75.97000122          No MI                                               1.00E+17
           16218955                            20360501                                  760000                             20060601                                 80          No MI                                               1.00E+17
           16218956                            20360501                                  605400                             20060601                        55.04000092          No MI                                               1.00E+17
           16218957                            20360501                                  744000                             20060601                                 80          No MI                                               1.00E+17
           16218958                            20360501                                  780000                             20060601                                 80          No MI                                               1.00E+17
           16218959                            20360501                                  440000                             20060601                                 80          No MI                                               1.00E+17
           16218930                            20360501                                  620600                             20060601                                 80          No MI                                               1.00E+17
           16218931                            20360401                                  488000                             20060501                                 80          No MI                                               1.00E+17
           16218932                            20360501                                  864000                             20060601                                 80          No MI                                               1.00E+17
           16218933                            20360501                                  596070                             20060601                                 80          No MI                                               1.00E+17
           16218934                            20360501                                  515000                             20060601                        76.30000305          No MI                                               1.00E+17
           16218935                            20360501                                  440000                             20060601                        55.34999847          No MI                                               1.00E+17
           16218936                            20360501                                  600000                             20060601                                 80          No MI                                               1.00E+17
           16218937                            20360501                                  525000                             20060601                        68.26999664          No MI                                               1.00E+17
           16218938                            20360501                                  420000                             20060601                                 70          No MI                                               1.00E+17
           16218939                            20360501                                  623200                             20060601                                 80          No MI                                               1.00E+17
           16218885                            20360501                                  436670                             20060601                                 80          No MI                                               1.00E+17
           16218886                            20360501                                  436320                             20060601                                 80          No MI                                               1.00E+17
           16218887                            20360501                                  448550                             20060601                                 80          No MI                                               1.00E+17
           16218888                            20360101                                 1000000                             20060201                        69.44000244          No MI                                               1.00E+17
           16218889                            20360401                                 1000000                             20060501                        67.80000305          No MI                                               1.00E+17
           16218890                            20360501                                  452000                             20060601                                 80          No MI                                               1.00E+17
           16218891                            20360501                                  496000                             20060601                        59.75999832          No MI                                               1.00E+17
           16218892                            20360401                                  896250                             20060501                                 75          No MI                                               1.00E+17
           16218893                            20360401                                  543600                             20060501                        79.98999786          No MI                                               1.00E+17
           16218894                            20360401                                  503000                             20060501                        75.63999939          No MI                                               1.00E+17
           16218895                            20360401                                  600000                             20060501                                 80          No MI                                               1.00E+17
           16218896                            20360501                                  715000                             20060601                        79.05000305          No MI                                               1.00E+17
           16218897                            20360501                                  568000                             20060601                        78.88999939          No MI                                               1.00E+17
           16218898                            20360401                                  500000                             20060501                        54.95000076          No MI                                               1.00E+17
           16218899                            20360401                                  937500                             20060501                                 75          No MI                                               1.00E+17
           16218880                            20360501                                  470786                             20060601                                 80          No MI                                               1.00E+17
           16218881                            20360401                                  792450                             20060501                                 70          No MI                                               1.00E+17
           16218882                            20360501                                  528465                             20060601                                 80          No MI                                               1.00E+17
           16218883                            20360501                                  450000                             20060601                        32.13999939          No MI                                               1.00E+17
           16218884                            20360501                                 1000000                             20060601                        62.72999954          No MI                                               1.00E+17
           16218901                            20360501                                  708000                             20060601                                 80          No MI                                               1.00E+17
           16218902                            20360501                                  724000                             20060601                                 80          No MI                                               1.00E+17
           16218903                            20360401                                  668000                             20060501                                 80          No MI                                               1.00E+17
           16218904                            20360501                                  558000                             20060601                        79.15000153          No MI                                               1.00E+17
           16218905                            20360501                                  500500                             20060601                                 70          No MI                                               1.00E+17
           16218906                            20360501                                  640000                             20060601                        69.19000244          No MI                                               1.00E+17
           16218907                            20360501                                  491000                             20060601                        79.83999634          No MI                                               1.00E+17
           16218908                            20360501                                  543200                             20060601                                 80          No MI                                               1.00E+17
           16218909                            20360501                                  750000                             20060601                        55.56000137          No MI                                               1.00E+17
           16218910                            20360501                                  585600                             20060601                        79.94999695          No MI                                               1.00E+17
           16218911                            20360501                                  405000                             20060601                                 90          United Guaranty                                     1.00E+17
           16218912                            20360501                                  500000                             20060601                        38.45999908          No MI                                               1.00E+17
           16218913                            20360501                                  850000                             20060601                        79.80999756          No MI                                               1.00E+17
           16218914                            20360501                                  520000                             20060601                                 80          No MI                                               1.00E+17
           16218915                            20360501                                  950000                             20060601                        75.09999847          No MI                                               1.00E+17
           16218916                            20360501                                  605700                             20060601                        79.98999786          No MI                                               1.00E+17
           16218917                            20360501                                  579752                             20060601                                 80          No MI                                               1.00E+17
           16218918                            20360501                                  450000                             20060601                        66.43000031          No MI                                               1.00E+17
           16218919                            20360501                                  635000                             20060601                        58.25999832          No MI                                               1.00E+17
           16218920                            20360501                                 1000000                             20060601                        69.95999908          No MI                                               1.00E+17
           16218921                            20360501                                 2475000                             20060601                                 75          No MI                                               1.00E+17
           16218922                            20360501                                  999999                             20060601                        78.48999786          No MI                                               1.00E+17
           16218923                            20360501                                  483000                             20060601                        73.97000122          No MI                                               1.00E+17
           16218924                            20360501                                  524242                             20060601                                 80          No MI                                               1.00E+17
           16218925                            20360501                                  566952                             20060601                                 80          No MI                                               1.00E+17
           16218926                            20360501                                  576000                             20060601                                 80          No MI                                               1.00E+17
           16218927                            20360501                                  455920                             20060601                                 80          No MI                                               1.00E+17
           16218928                            20360501                                  650000                             20060601                        79.20999908          No MI                                               1.00E+17
           16218929                            20360501                                  458000                             20060601                        78.97000122          No MI                                               1.00E+17
           16218900                            20360501                                  621000                             20060601                        51.00999832          No MI                                               1.00E+17
           16219027                            20360501                                  760000                             20060601                                 80          No MI                                               1.00E+17
           16219029                            20360501                                  750000                             20060601                                 60          No MI                                               1.00E+17
           16219030                            20360501                                  890603                             20060601                                 80          No MI                                               1.00E+17
           16219000                            20360501                                  560000                             20060601                        62.22000122          No MI                                               1.00E+17
           16219001                            20360501                                  450000                             20060601                        51.43000031          No MI                                               1.00E+17
           16219002                            20360501                                  105600                             20060601                                 80          No MI                                               1.00E+17
           16219003                            20360501                                  423000                             20060601                        76.22000122          No MI                                               1.00E+17
           16219004                            20360501                                  426000                             20060601                              53.25          No MI                                               1.00E+17
           16219005                            20360501                                  980000                             20060601                                 80          No MI                                               1.00E+17
           16219006                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16219007                            20360501                                  500000                             20060601                                 80          No MI                                               1.00E+17
           16219008                            20360501                                  492000                             20060601                                 80          No MI                                               1.00E+17
           16219009                            20360501                                  692000                             20060601                                 80          No MI                                               1.00E+17
           16219010                            20360501                                 1500000                             20060601                        74.80999756          No MI                                               1.00E+17
           16219011                            20360501                                 1282500                             20060601                                 75          No MI                                               1.00E+17
           16219012                            20360501                                  541644                             20060601                                 80          No MI                                               1.00E+17
           16219013                            20360501                                  550866                             20060601                        58.29000092          No MI                                               1.00E+17
           16219014                            20360501                                  920000                             20060601                                 80          No MI                                               1.00E+17
           16219015                            20360501                                  904000                             20060601                                 80          No MI                                               1.00E+17
           16219016                            20360501                                  421600                             20060601                                 80          No MI                                               1.00E+17
           16219017                            20360501                                  640000                             20060601                                 80          No MI                                               1.00E+17
           16219018                            20360501                                  613600                             20060601                                 80          No MI                                               1.00E+17
           16219019                            20360501                                  801160                             20060601                                 80          No MI                                               1.00E+17
           16219020                            20360501                                  550000                             20060601                        18.03000069          No MI                                               1.00E+17
           16219021                            20360501                                  946500                             20060601                                 75          No MI                                               1.00E+17
           16219022                            20360501                                  488000                             20060601                                 80          No MI                                               1.00E+17
           16219023                            20360501                                  888000                             20060601                                 80          No MI                                               1.00E+17
           16219024                            20360501                                  479920                             20060601                                 80          No MI                                               1.00E+17
           16219025                            20360501                                  600000                             20060601                        67.80000305          No MI                                               1.00E+17
           16219026                            20360501                                  568000                             20060601                                 80          No MI                                               1.00E+17
           16132484                            20351101                                 1740000                             20051201                                 80          No MI                                               1.00E+17
           16132485                            20351101                                 1765200                             20051201                                 80          No MI                                               1.00E+17
           16132486                            20360201                                 1900000                             20060301                        42.70000076          No MI                                               1.00E+17
           16132487                            20351101                                 1670000                             20051201                        67.06999969          No MI                                               1.00E+17
           16132488                            20351201                                 1700000                             20060101                                 80          No MI                                               1.00E+17
           16132490                            20360301                                 1750000                             20060401                        68.62999725          No MI                                               1.00E+17
           16132491                            20351201                                 1820000                             20060101                                 80          No MI                                               1.00E+17
           16132492                            20351201                                 1770000                             20060101                        74.68000031          No MI                                               1.00E+17
           15830580                            20330901                                  333000                             20031001                        69.37999725          No MI                                               1.00E+17
           15830659                            20350701                                  548900                             20050801                                 80          No MI                                               1.00E+17
           15830691                            20351001                                  416000                             20051101                                 80          No MI                                               1.00E+17
           15830692                            20351001                                 1496250                             20051101                                 75          No MI                                               1.00E+17
           15830779                            20351001                                  491020                             20051101                                 80          No MI                                               1.00E+17
           15830881                            20351001                                  103280                             20051101                                 80          No MI                                               1.00E+17
           15830883                            20351001                                  185500                             20051101                        79.98999786          No MI                                               1.00E+17
           15830956                            20351001                                  468760                             20051101                                 80          No MI                                               1.00E+17
           15830987                            20350901                                  542500                             20051001                        71.37999725          No MI                                               1.00E+17
           15831159                            20351001                                  225900                             20051101                                 90          Republic MIC                                        1.00E+17
           15831162                            20351001                                  144000                             20051101                                 80          No MI                                               1.00E+17
           15831298                            20350301                                  518500                             20050401                                 85          Radian Guaranty
           15831306                            20350301                                  508000                             20050401                                 80          No MI
           15831355                            20350901                                  612000                             20051001                        72.86000061          No MI
           15831373                            20351001                                  344000                             20051101                                 80          No MI
           15831471                            20351001                                  242400                             20051101                                 80          No MI
           15831507                            20351001                                  478400                             20051101                                 80          No MI
           15831577                            20351001                                  288800                             20051101                                 80          No MI
           15831602                            20351001                                  333500                             20051101                        74.94000244          No MI
           15831626                            20351101                                  504000                             20051201                                 80          No MI
           15831665                            20351001                                  521600                             20051101                                 80          No MI                                               1.00E+17
           15831684                            20351001                                  254600                             20051101                                 80          No MI                                               1.00E+17
           15831701                            20351001                                  202800                             20051101                                 80          No MI                                               1.00E+17
           16019791                            20351001                                  412000                             20051101                                 80          No MI
           16019841                            20351001                                  370000                             20051101                        64.91000366          No MI
           16019844                            20351001                                  235200                             20051101                                 80          No MI
           16020328                            20351001                                  312000                             20051101                                 80          No MI
           16020419                            20351101                                  412000                             20051201                        62.24000168          No MI
           16020619                            20350801                                  456000                             20050901                                 80          No MI                                               1.00E+17
           16020700                            20351201                                  850000                             20060101                        73.91000366          No MI
           16020753                            20340701                                  342000                             20040801                                 90          Radian Guaranty                                     1.00E+17
           16020805                            20351101                                  402775                             20051201                                 80          No MI                                               1.00E+17
           16020911                            20351001                                  520604                             20051101                                 80          No MI                                               1.00E+17
           16166788                            20360401                                  578700                             20060501                                 80          No MI                                               1.00E+17
           16166791                            20360401                                  708000                             20060501                                 80          No MI                                               1.00E+17
           16166795                            20360401                                  572000                             20060501                                 80          No MI                                               1.00E+17
           16166796                            20360401                                  459264                             20060501                                 95          Triad Guaranty                                      1.00E+17
           16166748                            20360401                                  472000                             20060501                                 80          No MI                                               1.00E+17
           16166762                            20360401                                  460000                             20060501                                 80          No MI                                               1.00E+17
           16166772                            20360401                                  526600                             20060501                                 80          No MI                                               1.00E+17
           16166776                            20360401                                  460000                             20060501                                 80          No MI                                               1.00E+17
           16166781                            20351101                                  441808                             20051201                                 80          No MI                                               1.00E+17
           16166782                            20360401                                  424180                             20060501                                 80          No MI                                               1.00E+17
           16166787                            20360401                                  515000                             20060501                        64.37999725          No MI                                               1.00E+17
           16166737                            20360401                                  667500                             20060501                                 75          No MI                                               1.00E+17
           16166621                            20360401                                  650000                             20060501                        29.54999924          No MI                                               1.00E+17
           16166639                            20360401                                  920000                             20060501                                 80          No MI                                               1.00E+17
           16166641                            20360401                                  453500                             20060501                        73.73999786          No MI                                               1.00E+17
           16166645                            20360401                                 1170000                             20060501                        45.43999863          No MI                                               1.00E+17
           16166660                            20360401                                  624000                             20060501                                 80          No MI                                               1.00E+17
           16166664                            20360401                                  657000                             20060501                        72.19999695          No MI                                               1.00E+17
           16166666                            20360401                                  430500                             20060501                        79.98000336          No MI                                               1.00E+17
           16166669                            20360401                                  525292                             20060501                                 80          No MI                                               1.00E+17
           16166670                            20360401                                  904000                             20060501                                 80          No MI                                               1.00E+17
           16166672                            20360401                                  503888                             20060501                                 80          No MI                                               1.00E+17
           16166679                            20360401                                  431300                             20060501                        79.87000275          No MI                                               1.00E+17
           16166682                            20360401                                  641150                             20060501                                 80          No MI                                               1.00E+17
           16166683                            20360401                                  650000                             20060501                              79.75          No MI                                               1.00E+17
           16166686                            20360401                                  525000                             20060501                        73.01999664          No MI                                               1.00E+17
           16166689                            20360401                                  510000                             20060501                        57.63000107          No MI                                               1.00E+17
           16166695                            20360401                                  624000                             20060501                                 80          No MI                                               1.00E+17
           16166698                            20360401                                  591200                             20060501                                 80          No MI                                               1.00E+17
           16166702                            20360401                                  485456                             20060501                                 80          No MI                                               1.00E+17
           16166711                            20360401                                  450000                             20060501                        64.29000092          No MI                                               1.00E+17
           16166716                            20360401                                  608800                             20060501                                 80          No MI                                               1.00E+17
           16166725                            20360401                                  922000                             20060501                        74.95999908          No MI                                               1.00E+17
           16166729                            20360401                                  425000                             20060501                        65.37999725          No MI                                               1.00E+17
           16166616                            20360401                                  430000                             20060501                        71.66999817          No MI                                               1.00E+17
           16166593                            20360401                                  651500                             20060501                        75.31999969          No MI                                               1.00E+17
           16166595                            20360401                                  470462                             20060501                                 80          No MI                                               1.00E+17
           16166610                            20360401                                  480000                             20060501                                 80          No MI                                               1.00E+17
           16166613                            20360401                                  632000                             20060501                                 80          No MI                                               1.00E+17
           16166614                            20360401                                  780000                             20060501                                 80          No MI                                               1.00E+17
           16166577                            20360401                                  572000                             20060501                                 80          No MI                                               1.00E+17
           16166579                            20360401                                  420000                             20060501                                 80          No MI                                               1.00E+17
           16166580                            20360401                                  589000                             20060501                        74.98000336          No MI                                               1.00E+17
           16166454                            20360401                                  621000                             20060501                              51.75          No MI                                               1.00E+17
           16166458                            20360401                                  430000                             20060501                              68.25          No MI                                               1.00E+17
           16166459                            20360401                                  435000                             20060501                        52.40999985          No MI                                               1.00E+17
           16166460                            20360401                                  465500                             20060501                        63.15999985          No MI                                               1.00E+17
           16166467                            20360401                                  600000                             20060501                        66.66999817          No MI                                               1.00E+17
           16166469                            20360401                                  801670                             20060501                        77.86000061          No MI                                               1.00E+17
           16166470                            20360401                                  520000                             20060501                                 80          No MI                                               1.00E+17
           16166474                            20360401                                  662400                             20060501                                 80          No MI                                               1.00E+17
           16166477                            20360401                                  528500                             20060501                        72.40000153          No MI                                               1.00E+17
           16166488                            20360401                                  537016                             20060501                                 80          No MI                                               1.00E+17
           16166494                            20360401                                  432000                             20060501                        55.38000107          No MI                                               1.00E+17
           16166515                            20360401                                  512000                             20060501                        46.54999924          No MI                                               1.00E+17
           16166518                            20360401                                  692000                             20060501                                 80          No MI                                               1.00E+17
           16166519                            20360401                                  555000                             20060501                        69.37999725          No MI                                               1.00E+17
           16166521                            20360401                                  432000                             20060501                                 80          No MI                                               1.00E+17
           16166522                            20360401                                  530400                             20060501                                 80          No MI                                               1.00E+17
           16166523                            20360401                                  566208                             20060501                                 80          No MI                                               1.00E+17
           16166524                            20360401                                  450400                             20060501                                 80          No MI                                               1.00E+17
           16166526                            20360401                                  608000                             20060501                                 80          No MI                                               1.00E+17
           16166533                            20360401                                  780000                             20060501                                 80          No MI                                               1.00E+17
           16166539                            20360401                                  536156                             20060501                                 80          No MI                                               1.00E+17
           16166540                            20360401                                  641000                             20060501                        74.97000122          No MI                                               1.00E+17
           16166544                            20360401                                  520000                             20060501                                 80          No MI                                               1.00E+17
           16166545                            20360401                                  602000                             20060501                                 70          No MI                                               1.00E+17
           16166550                            20360401                                  576000                             20060501                                 80          No MI                                               1.00E+17
           16166560                            20360401                                  495000                             20060501                        70.01000214          No MI                                               1.00E+17
           16166417                            20360401                                 1000000                             20060501                        71.43000031          No MI                                               1.00E+17
           16166419                            20360401                                  506400                             20060501                                 80          No MI                                               1.00E+17
           16166421                            20360401                                  525000                             20060501                                 70          No MI                                               1.00E+17
           16166425                            20360401                                  448000                             20060501                                 80          No MI                                               1.00E+17
           16166426                            20360401                                  840000                             20060501                                 80          No MI                                               1.00E+17
           16166428                            20360401                                  437038                             20060501                                 80          No MI                                               1.00E+17
           16166435                            20360401                                  520000                             20060501                                 80          No MI                                               1.00E+17
           16166436                            20360401                                 1000000                             20060501                        76.91999817          No MI                                               1.00E+17
           16166443                            20360401                                  582000                             20060501                        47.70000076          No MI                                               1.00E+17
           16166449                            20360401                                  437905                             20060501                                 80          No MI                                               1.00E+17
           16166319                            20360401                                  440000                             20060501                                 80          No MI                                               1.00E+17
           16166321                            20360401                                  650000                             20060501                        69.47000122          No MI                                               1.00E+17
           16166323                            20360401                                  452476                             20060501                                 80          No MI                                               1.00E+17
           16166327                            20360401                                  560000                             20060501                        69.13999939          No MI                                               1.00E+17
           16166328                            20360401                                  744000                             20060501                                 80          No MI                                               1.00E+17
           16166336                            20360401                                  525000                             20060501                                 70          No MI                                               1.00E+17
           16166340                            20360401                                  452000                             20060501                                 80          No MI                                               1.00E+17
           16166344                            20360401                                  800500                             20060501                        63.08000183          No MI                                               1.00E+17
           16166349                            20360401                                  663750                             20060501                                 75          No MI                                               1.00E+17
           16166353                            20360401                                  438439                             20060501                        74.51000214          No MI                                               1.00E+17
           16166359                            20360401                                  481600                             20060501                                 80          No MI                                               1.00E+17
           16166364                            20360401                                  607600                             20060501                                 80          No MI                                               1.00E+17
           16166377                            20360401                                  650000                             20060501                        79.26999664          No MI                                               1.00E+17
           16166378                            20360401                                  520000                             20060501                        75.47000122          No MI                                               1.00E+17
           16166379                            20360401                                  492000                             20060501                                 80          No MI                                               1.00E+17
           16166380                            20360401                                  500000                             20060501                        47.06000137          No MI                                               1.00E+17
           16166389                            20360401                                  525600                             20060501                        75.08999634          No MI                                               1.00E+17
           16166390                            20360401                                  486000                             20060501                                 80          No MI                                               1.00E+17
           16166395                            20360401                                  650000                             20060501                        68.41999817          No MI                                               1.00E+17
           16166407                            20360401                                 1000000                             20060501                        64.09999847          No MI                                               1.00E+17
           16166411                            20360401                                  432000                             20060501                                 80          No MI                                               1.00E+17
           16166289                            20360401                                  850000                             20060501                        75.22000122          No MI                                               1.00E+17
           16166296                            20360401                                  790000                             20060501                        72.48000336          No MI                                               1.00E+17
           16166310                            20360301                                 1000000                             20060401                        61.91999817          No MI                                               1.00E+17
           16166313                            20360401                                  510000                             20060501                                 60          No MI                                               1.00E+17
           16166315                            20360401                                  422000                             20060501                                 80          No MI                                               1.00E+17
           16166318                            20360401                                  623234                             20060501                                 80          No MI                                               1.00E+17
           16166098                            20360301                                  469799                             20060401                                 80          No MI                                               1.00E+17
           16166102                            20360301                                  700000                             20060401                        49.36999893          No MI                                               1.00E+17
           16166104                            20360301                                  615920                             20060401                                 80          No MI                                               1.00E+17
           16166106                            20360301                                  667000                             20060401                        79.87999725          No MI                                               1.00E+17
           16166107                            20360401                                  588000                             20060501                                 80          No MI                                               1.00E+17
           16166108                            20360401                                  504432                             20060501                                 80          No MI                                               1.00E+17
           16166110                            20360301                                  448500                             20060401                                 65          No MI                                               1.00E+17
           16166113                            20360301                                  522600                             20060401                                 80          No MI                                               1.00E+17
           16166115                            20360301                                 1360000                             20060401                        67.73000336          No MI                                               1.00E+17
           16166116                            20360301                                  650000                             20060401                        64.30000305          No MI                                               1.00E+17
           16166121                            20360301                                  451000                             20060401                        79.72000122          No MI                                               1.00E+17
           16166122                            20360301                                  545653                             20060401                                 80          No MI                                               1.00E+17
           16166125                            20360301                                  423168                             20060401                                 80          No MI                                               1.00E+17
           16166127                            20360301                                  556000                             20060401                                 80          No MI                                               1.00E+17
           16166128                            20360401                                 1500000                             20060501                        9.840000153          No MI                                               1.00E+17
           16166135                            20360401                                  501300                             20060501                        79.98999786          No MI                                               1.00E+17
           16166136                            20360401                                  536000                             20060501                                 80          No MI                                               1.00E+17
           16166138                            20360401                                  470000                             20060501                        79.93000031          No MI                                               1.00E+17
           16166142                            20360401                                  424000                             20060501                                 80          No MI                                               1.00E+17
           16166143                            20360301                                 1441000                             20060401                               65.5          No MI                                               1.00E+17
           16166145                            20360301                                  636000                             20060401                                 80          No MI                                               1.00E+17
           16166147                            20360301                                  531200                             20060401                                 80          No MI                                               1.00E+17
           16166148                            20360401                                  591200                             20060501                                 80          No MI                                               1.00E+17
           16166151                            20360301                                  507000                             20060401                        67.59999847          No MI                                               1.00E+17
           16166152                            20360401                                  445000                             20060501                        72.94999695          No MI                                               1.00E+17
           16166155                            20360301                                  516000                             20060401                                 80          No MI                                               1.00E+17
           16166159                            20360401                                  431100                             20060501                        61.15000153          No MI                                               1.00E+17
           16166160                            20360401                                  520000                             20060501                                 80          No MI                                               1.00E+17
           16166161                            20360401                                  672000                             20060501                                 80          No MI                                               1.00E+17
           16166163                            20360401                                  686400                             20060501                                 80          No MI                                               1.00E+17
           16166164                            20360401                                  472000                             20060501                                 80          No MI                                               1.00E+17
           16166167                            20360301                                  486000                             20060401                        79.91999817          No MI                                               1.00E+17
           16166168                            20360301                                  550000                             20060401                        69.83999634          No MI                                               1.00E+17
           16166170                            20360401                                  523000                             20060501                        71.63999939          No MI                                               1.00E+17
           16166175                            20360301                                  431250                             20060401                                 75          No MI                                               1.00E+17
           16166176                            20360401                                  570000                             20060501                        65.13999939          No MI                                               1.00E+17
           16166178                            20360401                                  481250                             20060501                                 80          No MI                                               1.00E+17
           16166189                            20360401                                  605500                             20060501                                 70          No MI                                               1.00E+17
           16166194                            20360301                                  512000                             20060401                                 80          No MI                                               1.00E+17
           16166197                            20360301                                  441000                             20060401                                 70          No MI                                               1.00E+17
           16166200                            20360401                                  669600                             20060501                        79.98999786          No MI                                               1.00E+17
           16166201                            20360401                                  422500                             20060501                        63.52999878          No MI                                               1.00E+17
           16166202                            20360301                                  511300                             20060401                        36.52000046          No MI                                               1.00E+17
           16166203                            20360401                                  637460                             20060501                        76.94999695          No MI                                               1.00E+17
           16166204                            20360401                                  650000                             20060501                        79.69000244          No MI                                               1.00E+17
           16166207                            20360401                                  588000                             20060501                                 70          No MI                                               1.00E+17
           16166213                            20360301                                  880000                             20060401                                 80          No MI                                               1.00E+17
           16166217                            20360401                                  426150                             20060501                                 80          No MI                                               1.00E+17
           16166218                            20360301                                  604000                             20060401                                 80          No MI                                               1.00E+17
           16166220                            20360401                                  435000                             20060501                        74.48999786          No MI                                               1.00E+17
           16166223                            20360401                                  600000                             20060501                                 80          No MI                                               1.00E+17
           16166225                            20360401                                  517600                             20060501                                 80          No MI                                               1.00E+17
           16166232                            20360401                                  512000                             20060501                                 80          No MI                                               1.00E+17
           16166234                            20360401                                  703200                             20060501                                 80          No MI                                               1.00E+17
           16166235                            20360301                                  600000                             20060401                        78.01999664          No MI                                               1.00E+17
           16166237                            20360401                                  468000                             20060501                                 80          No MI                                               1.00E+17
           16166238                            20360401                                  650000                             20060501                                 50          No MI                                               1.00E+17
           16166245                            20360401                                  429384                             20060501                                 80          No MI                                               1.00E+17
           16166247                            20360401                                  515000                             20060501                        79.23000336          No MI                                               1.00E+17
           16166249                            20360301                                  503357                             20060401                                 80          No MI                                               1.00E+17
           16166255                            20360401                                  650000                             20060501                        76.01999664          No MI                                               1.00E+17
           16166267                            20360401                                  492600                             20060501                        77.44000244          No MI                                               1.00E+17
           16166069                            20360401                                  475000                             20060501                        55.22000122          No MI                                               1.00E+17
           16166074                            20360401                                  585600                             20060501                        62.97000122          No MI                                               1.00E+17
           16166083                            20360401                                  457600                             20060501                                 80          No MI                                               1.00E+17
           16166092                            20360301                                  436400                             20060401                        79.34999847          No MI                                               1.00E+17
               2026

           LOAN_SEQ                    MARGIN                               NEXT_RATE_ADJ_DATE1               MAX_RATE                    MIN_RATE                          PER_RATE_CAP         LIEN               BALLOON                    IO_FLAG
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
           16046700                     2.25                                     20090201                        12.5                           0                                  2          First Lien                                         Y
           16046701                     2.25                                     20110201                      11.375                       1.875                                  2          First Lien                                         Y
           16046702                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16046703                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         N
           16046704                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16046705                     2.25                                     20090101                      11.875                           2                                  2          First Lien                                         Y
           16046706                     2.25                                     20110201                      11.375                       1.875                                  2          First Lien                                         Y
           16046707                     2.25                                     20160201                      10.875                           2                                  2          First Lien                                         Y
           16046708                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16046709                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046710                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046712                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046713                     2.25                                     20160201                        11.5                           2                                  2          First Lien                                         Y
           16046714                     2.25                                     20110101                      11.375                           2                                  2          First Lien                                         Y
           16046715                     2.25                                     20160201                       11.25                           2                                  2          First Lien                                         Y
           16046482                     2.25                                     20100901                      10.125                           2                                  2          First Lien                                         Y
           16046498                     2.25                                     20151201                      10.875                           2                                  2          First Lien                                         Y
           16046505                     2.25                                     20150701                        10.5                           2                                  2          First Lien                                         Y
           16046511                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16046514                     2.25                                     20110101                       11.75                           2                                  2          First Lien                                         N
           16046521                     2.25                                     20151201                      11.375                           2                                  2          First Lien                                         Y
           16046541                     2.25                                     20160101                      11.125                           2                                  2          First Lien                                         Y
           16046546                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         Y
           16046550                     2.25                                     20160101                      11.625                           2                                  2          First Lien                                         Y
           16046562                     2.25                                     20101201                      10.875                           2                                  2          First Lien                                         Y
           16046570                     2.25                                     20110101                       11.25                           2                                  2          First Lien                                         Y
           16046579                     2.25                                     20090101                      12.125                           2                                  2          First Lien                                         Y
           16046587                     2.25                                     20160101                      10.875                       1.875                                  2          First Lien                                         Y
           16046597                     2.25                                     20110101                       12.25                           2                                  2          First Lien                                         N
           16046606                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16046615                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16046618                     2.25                                     20090101                       12.25                           2                                  2          First Lien                                         Y
           16046644                     2.25                                     20110101                      11.375                       1.875                                  2          First Lien                                         Y
           16046645                     2.25                                     20110101                       10.75                           2                                  2          First Lien                                         N
           16046646                     2.25                                     20080901                      12.375                           2                                  2          First Lien                                         Y
           16046648                     2.25                                     20101101                      10.375                       1.875                                  2          First Lien                                         Y
           16046649                     2.25                                     20100801                          10                           2                                  2          First Lien                                         Y
           16046651                     2.25                                     20090201                       12.75                           2                                  2          First Lien                                         Y
           16046655                     2.25                                     20110101                      11.375                       1.875                                  2          First Lien                                         Y
           16046663                     2.25                                     20130101                      10.875                           2                                  2          First Lien                                         Y
           16046673                     2.25                                     20080501                        11.5                           2                                  2          First Lien                                         Y
           16046675                     2.25                                     20160101                        11.5                       1.875                                  2          First Lien                                         Y
           16046682                     2.25                                     20100601                       10.25                           2                                  2          First Lien                                         Y
           16046693                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046698                     2.25                                     20110101                      10.375                           2                                  2          First Lien                                         Y
           16046711                     2.25                                     20100901                        10.5                           2                                  2          First Lien                                         Y
           16046720                     2.25                                     20110101                      11.125                           2                                  2          First Lien                                         Y
           16046729                     2.25                                     20100201                       10.75                           2                                  2          First Lien                                         Y
           16046730                     2.25                                     20151201                      10.875                           2                                  2          First Lien                                         Y
           16046738                     2.25                                     20100101                      10.125                           2                                  2          First Lien                                         Y
           16046747                     2.25                                     20160101                      10.875                           2                                  2          First Lien                                         Y
           16046763                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046766                     2.25                                     20100801                       11.25                           2                                  2          First Lien                                         Y
           16046767                     2.25                                     20150901                      10.875                           2                                  2          First Lien                                         Y
           16046768                     2.25                                     20110101                       10.75                           2                                  2          First Lien                                         N
           16046770                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         N
           16046771                     2.25                                     20081201                      12.875                           2                                  2          First Lien                                         Y
           16046773                     2.25                                     20080701                        11.5                       1.875                                  2          First Lien                                         Y
           16046779                     2.25                                     20100601                       9.875                       1.875                                  2          First Lien                                         Y
           16046782                     2.25                                     20160101                        11.5                           2                                  2          First Lien                                         Y
           16046807                     2.25                                     20101201                       11.75                           2                                  2          First Lien                                         Y
           16046815                     2.25                                     20160101                      11.375                           2                                  2          First Lien                                         Y
           16046821                     2.25                                     20130101                        11.5                           2                                  2          First Lien                                         Y
           16046826                     2.25                                     20151201                      10.875                           2                                  2          First Lien                                         Y
           16046739                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046740                     2.25                                     20160201                      11.375                           2                                  2          First Lien                                         Y
           16046741                     2.25                                     20160101                      11.375                           2                                  2          First Lien                                         Y
           16046742                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046743                     2.25                                     20130201                      11.375                           2                                  2          First Lien                                         Y
           16046744                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16046746                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16046748                     2.25                                     20110101                      10.375                           2                                  2          First Lien                                         N
           16046750                     2.25                                     20110101                       10.75                           2                                  2          First Lien                                         Y
           16046751                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046752                     2.25                                     20130101                          11                           2                                  2          First Lien                                         Y
           16046753                     2.25                                     20160201                      11.375                           2                                  2          First Lien                                         Y
           16046754                     2.25                                     20160101                      11.125                           2                                  2          First Lien                                         Y
           16046755                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046756                     2.25                                     20130201                       12.25                           2                                  2          First Lien                                         N
           16046759                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         N
           16046760                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         N
           16046761                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16046762                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16046764                     2.25                                     20110101                        10.5                           2                                  2          First Lien                                         N
           16046765                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046769                     2.25                                     20110101                      11.875                           2                                  2          First Lien                                         N
           16046772                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046774                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046775                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         Y
           16046776                     2.25                                     20090201                      12.375                           2                                  2          First Lien                                         Y
           16046777                     2.25                                     20160201                      11.625                       1.875                                  2          First Lien                                         Y
           16046778                     2.25                                     20160201                       11.25                           2                                  2          First Lien                                         Y
           16046780                     2.25                                     20090201                       12.75                           2                                  2          First Lien                                         Y
           16046781                     2.25                                     20110101                          12                       1.875                                  2          First Lien                                         N
           16046784                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         Y
           16046785                     2.25                                     20160101                        11.5                       1.875                                  2          First Lien                                         Y
           16046786                     2.25                                     20090201                      13.125                           2                                  2          First Lien                                         Y
           16046787                     2.25                                     20090201                      12.125                       1.875                                  2          First Lien                                         Y
           16046788                     2.25                                     20110201                        11.5                       1.875                                  2          First Lien                                         Y
           16046789                     2.25                                     20090101                      11.875                           2                                  2          First Lien                                         Y
           16046790                     2.25                                     20110101                      11.875                       1.875                                  2          First Lien                                         N
           16046791                     2.25                                     20160201                          11                           2                                  2          First Lien                                         Y
           16046792                     2.25                                     20160201                        10.5                           2                                  2          First Lien                                         Y
           16046793                     2.25                                     20160201                      10.875                           2                                  2          First Lien                                         Y
           16046794                     2.25                                     20160201                       11.75                           2                                  2          First Lien                                         Y
           16046796                     2.25                                     20160101                      11.375                           2                                  2          First Lien                                         Y
           16046797                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16046798                     2.25                                     20160101                      11.125                           2                                  2          First Lien                                         Y
           16046799                     2.25                                     20130201                          11                           2                                  2          First Lien                                         Y
           16046800                     2.25                                     20130201                       11.75                           2                                  2          First Lien                                         Y
           16046801                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         N
           16046802                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046803                     2.25                                     20130201                       11.25                           2                                  2          First Lien                                         N
           16046804                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046805                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16046806                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16046808                     2.25                                     20090201                        11.5                           2                                  2          First Lien                                         N
           16046809                     2.25                                     20160201                      10.875                       1.875                                  2          First Lien                                         Y
           16046810                     2.25                                     20160101                      10.875                           2                                  2          First Lien                                         Y
           16046811                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         Y
           16046812                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16046813                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         Y
           16046814                     2.25                                     20160101                      11.375                           2                                  2          First Lien                                         Y
           16046817                     2.25                                     20160201                       11.25                           2                                  2          First Lien                                         Y
           16046818                     2.25                                     20160201                        11.5                           2                                  2          First Lien                                         Y
           16046819                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         N
           16046820                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16046822                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16046823                     2.25                                     20110101                       11.25                           2                                  2          First Lien                                         Y
           16046824                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         N
           16046825                     2.25                                     20110101                      11.875                           2                                  2          First Lien                                         N
           16046827                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16046716                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16046718                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         Y
           16046719                     2.25                                     20130101                      10.875                       1.875                                  2          First Lien                                         Y
           16046721                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         Y
           16046722                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         N
           16046723                     2.25                                     20160101                          11                           2                                  2          First Lien                                         Y
           16046724                     2.25                                     20090201                      12.625                           2                                  2          First Lien                                         Y
           16046725                     2.25                                     20110201                      11.875                       1.875                                  2          First Lien                                         Y
           16046726                     2.25                                     20130201                          11                           2                                  2          First Lien                                         N
           16046727                     2.25                                     20160201                       11.75                           2                                  2          First Lien                                         Y
           16046728                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         Y
           16046731                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16046732                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16046733                     2.25                                     20160201                          11                           2                                  2          First Lien                                         Y
           16046734                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16046736                     2.25                                     20160101                      11.375                           2                                  2          First Lien                                         Y
           16046737                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16046465                     2.25                                     20160101                      11.125                           2                                  2          First Lien                                         Y
           16046466                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16046467                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16046468                     2.25                                     20160201                        11.5                           2                                  2          First Lien                                         Y
           16046469                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         Y
           16046470                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         N
           16046471                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046472                     2.25                                     20090201                      11.875                           2                                  2          First Lien                                         Y
           16046473                     2.25                                     20090201                       12.75                       1.875                                  2          First Lien                                         Y
           16046474                     2.25                                     20110201                      10.875                       1.875                                  2          First Lien                                         Y
           16046475                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         N
           16046476                     2.25                                     20110201                      10.625                           2                                  2          First Lien                                         Y
           16046477                     2.25                                     20160201                          11                           2                                  2          First Lien                                         Y
           16046478                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         Y
           16046479                     2.25                                     20160101                      10.375                           2                                  2          First Lien                                         Y
           16046480                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16046481                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046483                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16046485                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046486                     2.25                                     20110201                          12                           2                                  2          First Lien                                         N
           16046487                     2.25                                     20130101                      11.125                           2                                  2          First Lien                                         Y
           16046488                     2.25                                     20160101                      11.375                           2                                  2          First Lien                                         Y
           16046489                     2.25                                     20160201                      11.125                           2                                  2          First Lien                                         Y
           16046491                     2.25                                     20110201                      10.125                           2                                  2          First Lien                                         Y
           16046492                     2.25                                     20110201                      12.125                           2                                  2          First Lien                                         N
           16046493                     2.25                                     20160201                      10.875                           2                                  2          First Lien                                         Y
           16046494                     2.25                                     20160201                      11.375                           2                                  2          First Lien                                         Y
           16046496                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16046497                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16046499                     2.25                                     20130101                      11.125                           2                                  2          First Lien                                         Y
           16046500                     2.25                                     20110201                       12.25                           2                                  2          First Lien                                         N
           16046501                     2.25                                     20160201                      11.375                           2                                  2          First Lien                                         Y
           16046502                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         N
           16046503                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046506                     2.25                                     20160101                      11.625                           2                                  2          First Lien                                         Y
           16046507                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         N
           16046508                     2.25                                     20110101                       11.25                           2                                  2          First Lien                                         Y
           16046509                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16046510                     2.25                                     20090201                      11.875                           2                                  2          First Lien                                         Y
           16046512                     2.25                                     20160201                       11.25                       1.875                                  2          First Lien                                         Y
           16046513                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16046515                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16046516                     2.25                                     20090201                        12.5                           2                                  2          First Lien                                         Y
           16046517                     2.25                                     20110201                          11                       1.875                                  2          First Lien                                         Y
           16046518                     2.25                                     20110201                      10.625                           2                                  2          First Lien                                         Y
           16046519                     2.25                                     20160201                       11.25                           2                                  2          First Lien                                         Y
           16046520                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         N
           16046522                     2.25                                     20160101                      11.125                           2                                  2          First Lien                                         Y
           16046524                     2.25                                     20110101                          10                           2                                  2          First Lien                                         Y
           16046643                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         Y
           16046647                     2.25                                     20160201                      11.625                       1.875                                  2          First Lien                                         Y
           16046650                     2.25                                     20090201                       12.75                           2                                  2          First Lien                                         Y
           16046652                     2.25                                     20160201                          11                       1.875                                  2          First Lien                                         Y
           16046653                     2.25                                     20110101                      11.375                           2                                  2          First Lien                                         N
           16046654                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16046656                     2.25                                     20160201                          11                           2                                  2          First Lien                                         Y
           16046657                     2.25                                     20110101                          11                           2                                  2          First Lien                                         N
           16046658                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046659                     2.25                                     20110101                      10.625                           2                                  2          First Lien                                         N
           16046660                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16046661                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16046662                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         Y
           16046664                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         N
           16046665                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         N
           16046666                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16046667                     2.25                                     20110201                      10.625                           2                                  2          First Lien                                         Y
           16046669                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         N
           16046670                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046671                     2.25                                     20160201                       11.25                           2                                  2          First Lien                                         Y
           16046672                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046674                     2.25                                     20160201                      11.375                           2                                  2          First Lien                                         Y
           16046676                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046678                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         Y
           16046679                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         N
           16046680                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16046683                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         N
           16046684                     2.25                                     20160201                          11                           2                                  2          First Lien                                         Y
           16046685                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16046686                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046687                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         N
           16046688                     2.25                                     20160201                          11                           2                                  2          First Lien                                         Y
           16046689                     2.25                                     20160201                      10.875                           2                                  2          First Lien                                         Y
           16046690                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         Y
           16046691                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         N
           16046692                     2.25                                     20130201                      11.125                           2                                  2          First Lien                                         N
           16046694                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         Y
           16046695                     2.25                                     20110201                       11.75                       1.875                                  2          First Lien                                         Y
           16046697                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046699                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16046598                     2.25                                     20160201                        11.5                           2                                  2          First Lien                                         Y
           16046600                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         Y
           16046601                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046602                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         Y
           16046603                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         N
           16046604                     2.25                                     20160101                      10.875                           2                                  2          First Lien                                         Y
           16046605                     2.25                                     20160101                      10.375                           2                                  2          First Lien                                         Y
           16046607                     2.25                                     20110101                       10.75                           2                                  2          First Lien                                         Y
           16046608                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         Y
           16046609                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         Y
           16046610                     2.25                                     20160201                       10.75                           2                                  2          First Lien                                         Y
           16046612                     2.25                                     20090101                      12.375                           2                                  2          First Lien                                         Y
           16046613                     2.25                                     20110201                      10.875                       1.875                                  2          First Lien                                         N
           16046614                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         N
           16046616                     2.25                                     20160201                        11.5                           2                                  2          First Lien                                         Y
           16046617                     2.25                                     20160101                      10.875                           2                                  2          First Lien                                         Y
           16046619                     2.25                                     20090201                        12.5                           2                                  2          First Lien                                         Y
           16046620                     2.25                                     20110101                       10.75                       1.875                                  2          First Lien                                         Y
           16046621                     2.25                                     20110101                      10.375                           2                                  2          First Lien                                         Y
           16046622                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16046623                     2.25                                     20110101                      11.875                           2                                  2          First Lien                                         N
           16046624                     2.25                                     20110201                        12.5                           2                                  2          First Lien                                         N
           16046625                     2.25                                     20160201                      10.875                           2                                  2          First Lien                                         Y
           16046626                     2.25                                     20090101                       12.25                           2                                  2          First Lien                                         Y
           16046627                     2.25                                     20110101                      10.875                       1.875                                  2          First Lien                                         N
           16046628                     2.25                                     20110201                       10.25                           2                                  2          First Lien                                         Y
           16046629                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16046630                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         Y
           16046631                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         N
           16046632                     2.25                                     20130201                       11.25                           2                                  2          First Lien                                         N
           16046634                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16046635                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         N
           16046637                     2.25                                     20160201                       11.25                           2                                  2          First Lien                                         Y
           16046638                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         N
           16046639                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046640                     2.25                                     20160201                      11.125                           2                                  2          First Lien                                         Y
           16046641                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         N
           16046642                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16046525                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         N
           16046526                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         N
           16046527                     2.25                                     20110201                          11                           2                                  2          First Lien                                         N
           16046528                     2.25                                     20110101                       11.25                           2                                  2          First Lien                                         N
           16046529                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         Y
           16046530                     2.25                                     20110101                          11                       1.875                                  2          First Lien                                         Y
           16046531                     2.25                                     20110201                          12                           2                                  2          First Lien                                         N
           16046532                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         N
           16046533                     2.25                                     20110201                      12.125                           2                                  2          First Lien                                         N
           16046534                     2.25                                     20090201                       12.75                           2                                  2          First Lien                                         Y
           16046535                     2.25                                     20110201                       11.25                       1.875                                  2          First Lien                                         N
           16046536                     2.25                                     20160201                      11.625                           2                                  2          First Lien                                         Y
           16046537                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         N
           16046538                     2.25                                     20090101                      12.125                           2                                  2          First Lien                                         Y
           16046540                     2.25                                     20160201                       11.75                       1.875                                  2          First Lien                                         Y
           16046542                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         Y
           16046543                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046544                     2.25                                     20110201                      10.625                           2                                  2          First Lien                                         N
           16046545                     2.25                                     20160101                       11.25                           2                                  2          First Lien                                         Y
           16046547                     2.25                                     20160201                      10.875                           2                                  2          First Lien                                         Y
           16046548                     2.25                                     20130101                      11.875                           2                                  2          First Lien                                         N
           16046549                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16046551                     2.25                                     20160201                      11.125                           2                                  2          First Lien                                         Y
           16046553                     2.25                                     20110101                      11.125                           2                                  2          First Lien                                         Y
           16046555                     2.25                                     20130201                      11.875                           2                                  2          First Lien                                         N
           16046557                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16046558                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046559                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16046560                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         N
           16046561                     2.25                                     20090201                      11.875                           2                                  2          First Lien                                         Y
           16046563                     2.25                                     20160101                      10.875                       1.875                                  2          First Lien                                         Y
           16046564                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16046565                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         Y
           16046566                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16046567                     2.25                                     20160201                       11.25                           2                                  2          First Lien                                         Y
           16046568                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16046572                     2.25                                     20110201                          11                           2                                  2          First Lien                                         N
           16046573                     2.25                                     20090101                       12.75                           2                                  2          First Lien                                         Y
           16046574                     2.25                                     20160201                       11.25                       1.875                                  2          First Lien                                         Y
           16046575                     2.25                                     20130101                        11.5                           2                                  2          First Lien                                         Y
           16046576                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         N
           16046578                     2.25                                     20090101                      12.375                           2                                  2          First Lien                                         Y
           16046580                     2.25                                     20110201                      11.625                       1.875                                  2          First Lien                                         Y
           16046581                     2.25                                     20110201                          10                           2                                  2          First Lien                                         Y
           16046582                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16046583                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16046584                     2.25                                     20130101                          11                           2                                  2          First Lien                                         Y
           16046585                     2.25                                     20160101                      10.875                           2                                  2          First Lien                                         Y
           16046588                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16046591                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16046592                     2.25                                     20160101                      11.375                           2                                  2          First Lien                                         Y
           16046593                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16046594                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16046595                     2.25                                     20160201                      11.375                           2                                  2          First Lien                                         Y
           16046596                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16127503                     2.25                                     20130101                       10.75                           2                                  2          First Lien                                         N
           16127504                     2.25                                     20110101                      10.625                           2                                  2          First Lien                                         N
           16127506                     2.25                                     20110101                      11.375                           2                                  2          First Lien                                         N
           16127507                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         N
           16127508                     2.25                                     20110101                        10.5                           2                                  2          First Lien                                         N
           16127509                     2.25                                     20110101                      11.125                           2                                  2          First Lien                                         N
           16127510                     2.25                                     20090201                          12                           2                                  2          First Lien                                         N
           16127511                     2.25                                     20130201                       10.25                       1.875                                  2          First Lien                                         Y
           16127512                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16127513                     2.25                                     20151201                          11                           2                                  2          First Lien                                         N
           16127514                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         Y
           16127515                     2.25                                     20090101                      11.125                           2                                  2          First Lien                                         N
           16127516                     2.25                                     20130201                       11.25                       1.875                                  2          First Lien                                         N
           16127517                     2.25                                     20100401                          11                           2                                  2          First Lien                                         N
           16127518                     2.25                                     20110201                          11                           2                                  2          First Lien                                         N
           16127519                     2.25                                     20110101                       11.25                           2                                  2          First Lien                                         N
           16127520                     2.25                                     20110101                      11.375                           2                                  2          First Lien                                         Y
           16127521                     2.25                                     20110301                          11                           2                                  2          First Lien                                         Y
           16127522                     2.25                                     20110201                       10.25                           2                                  2          First Lien                                         Y
           16127523                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         N
           16127524                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16127525                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16127526                     2.25                                     20110201                      10.625                           2                                  2          First Lien                                         N
           16127527                     2.25                                     20110101                          11                           2                                  2          First Lien                                         Y
           16127528                     2.25                                     20090101                      12.125                           2                                  2          First Lien                                         N
           16127529                     2.25                                     20110101                      11.125                       1.875                                  2          First Lien                                         Y
           16127530                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         N
           16127532                     2.25                                     20110201                      10.875                       1.875                                  2          First Lien                                         Y
           16127533                     2.25                                     20110201                       11.75                           2                                  2          First Lien                                         N
           16127534                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16127547                     2.25                                     20081201                        12.5                           2                                  2          First Lien                                         N
           16127548                     2.25                                     20160101                          11                       1.875                                  2          First Lien                                         N
           16127550                     2.25                                     20100201                       10.25                           2                                  2          First Lien                                         N
           16127551                     2.25                                     20110101                        10.5                           2                                  2          First Lien                                         N
           16127552                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         N
           16127553                     2.25                                     20100701                          10                           2                                  2          First Lien                                         N
           16127554                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         N
           16127555                     2.25                                     20110201                      10.625                           2                                  2          First Lien                                         Y
           16127556                     2.25                                     20110101                       10.75                           2                                  2          First Lien                                         N
           16127557                     2.25                                     20110101                       10.75                           2                                  2          First Lien                                         N
           16127558                     2.25                                     20110101                      10.375                           2                                  2          First Lien                                         N
           16127559                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         N
           16127560                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         N
           16127561                     2.25                                     20110101                       10.75                           2                                  2          First Lien                                         N
           16127562                     2.25                                     20101201                      11.125                           2                                  2          First Lien                                         N
           16127563                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         N
           16127565                     2.25                                     20130101                          11                           2                                  2          First Lien                                         N
           16127566                     2.25                                     20121201                      10.375                           2                                  2          First Lien                                         N
           16127567                     2.25                                     20130201                          11                           2                                  2          First Lien                                         Y
           16127568                     2.25                                     20110101                        10.5                           2                                  2          First Lien                                         N
           16127569                     2.25                                     20110101                       11.25                           2                                  2          First Lien                                         N
           16127570                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         N
           16127571                     2.25                                     20130101                        11.5                           2                                  2          First Lien                                         N
           16127572                     2.25                                     20090101                      12.125                           2                                  2          First Lien                                         N
           16127573                     2.25                                     20130201                      11.125                       1.875                                  2          First Lien                                         N
           16127574                     2.25                                     20110101                      11.125                           2                                  2          First Lien                                         N
           16127575                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         N
           16127576                     2.25                                     20110201                          11                           2                                  2          First Lien                                         N
           16127577                     2.25                                     20101201                      10.875                           2                                  2          First Lien                                         Y
           16127578                     2.25                                     20160201                      10.875                           2                                  2          First Lien                                         Y
           16127541                     2.25                                     20090101                      11.875                           2                                  2          First Lien                                         N
           16127542                     2.25                                     20110101                      10.375                       1.875                                  2          First Lien                                         Y
           16127543                     2.25                                     20130201                       10.75                           2                                  2          First Lien                                         Y
           16127544                     2.25                                     20100701                       10.75                           2                                  2          First Lien                                         N
           16127545                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         N
           16127546                     2.25                                     20130101                      10.875                           2                                  2          First Lien                                         N
           16127535                     2.25                                     20130201                       10.75                           2                                  2          First Lien                                         N
           16127536                     2.25                                     20160301                      10.875                           2                                  2          First Lien                                         Y
           16127537                     2.25                                     20110101                       11.75                           2                                  2          First Lien                                         N
           16127538                     2.25                                     20110101                          11                           2                                  2          First Lien                                         N
           16127539                     2.25                                     20101001                       10.75                           2                                  2          First Lien                                         N
           16127540                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         N
           16127499                     2.25                                     20100801                          10                           2                                  2          First Lien                                         N
           16127500                     2.25                                     20101201                       10.25                           2                                  2          First Lien                                         N
           16127501                     2.25                                     20130101                      10.625                           2                                  2          First Lien                                         N
           16127502                     2.25                                     20090101                      11.375                           2                                  2          First Lien                                         N
           16048088                     2.25                                     20090201                      12.625                       1.875                                  2          First Lien                                         Y
           16047971                     2.25                                     20081201                        12.5                           2                                  2          First Lien                                         N
           16047977                     2.25                                     20090101                       12.25                           2                                  2          First Lien                                         N
           16047989                     2.25                                     20090101                       12.25                           2                                  2          First Lien                                         Y
           16047990                     2.25                                     20090101                      11.625                           2                                  2          First Lien                                         N
           16047991                     2.25                                     20090101                       12.25                           2                                  2          First Lien                                         Y
           16047992                     2.25                                     20090101                      12.125                           2                                  2          First Lien                                         N
           16047994                     2.25                                     20090101                        12.5                           2                                  2          First Lien                                         Y
           16048002                     2.25                                     20090101                       12.25                           2                                  2          First Lien                                         Y
           16048004                     2.25                                     20081001                      11.375                           2                                  2          First Lien                                         Y
           16048006                     2.25                                     20090101                      12.375                           2                                  2          First Lien                                         Y
           16048008                     2.25                                     20090101                       12.25                           2                                  2          First Lien                                         Y
           16048012                     2.25                                     20090201                       11.75                           2                                  2          First Lien                                         N
           16048014                     2.25                                     20090201                       13.25                           2                                  2          First Lien                                         Y
           16048015                     2.25                                     20090101                      12.375                           2                                  2          First Lien                                         Y
           16048018                     2.25                                     20090201                        12.5                           2                                  2          First Lien                                         Y
           16048019                     2.25                                     20090201                      12.125                           2                                  2          First Lien                                         Y
           16048020                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         N
           16048021                     2.25                                     20090101                      12.375                           2                                  2          First Lien                                         Y
           16048024                     2.25                                     20090101                       12.75                           2                                  2          First Lien                                         Y
           16048033                     2.25                                     20081201                      12.125                           2                                  2          First Lien                                         Y
           16048037                     2.25                                     20090201                        12.5                           2                                  2          First Lien                                         Y
           16048045                     2.25                                     20090201                      11.875                           2                                  2          First Lien                                         Y
           16048046                     2.25                                     20090201                       12.25                           2                                  2          First Lien                                         Y
           16048048                     2.25                                     20090201                        13.5                           2                                  2          First Lien                                         Y
           16048049                     2.25                                     20090201                        12.5                           2                                  2          First Lien                                         N
           16048050                     2.25                                     20090201                        12.5                           2                                  2          First Lien                                         Y
           16048068                     2.25                                     20090201                      11.375                           2                                  2          First Lien                                         Y
           16048082                     2.25                                     20090301                       13.25                           2                                  2          First Lien                                         Y
           16047965                     2.25                                     20110201                          10                           2                                  2          First Lien                                         Y
           16047967                     2.75                                     20100801                        10.5                           2                                  2          First Lien                                         N
           16047968                     2.25                                     20101001                       10.25                         2.5                                  2          First Lien                                         Y
           16047970                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16047972                     2.25                                     20110101                       11.25                           2                                  2          First Lien                                         Y
           16047973                     2.25                                     20110101                      11.125                           2                                  2          First Lien                                         Y
           16047976                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16047978                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         N
           16047980                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16047983                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16047984                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16047985                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16047987                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16047988                     2.25                                     20110101                      11.875                           2                                  2          First Lien                                         Y
           16047993                     2.25                                     20110101                      11.375                           2                                  2          First Lien                                         Y
           16047995                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         Y
           16047996                     2.25                                     20110101                        10.5                           2                                  2          First Lien                                         N
           16047997                     2.25                                     20110101                      12.625                           2                                  2          First Lien                                         Y
           16047998                     2.25                                     20110101                      10.625                           2                                  2          First Lien                                         N
           16047999                     2.25                                     20110101                      10.125                           2                                  2          First Lien                                         Y
           16048000                     2.25                                     20110101                      11.875                           2                                  2          First Lien                                         Y
           16048001                     2.25                                     20110101                      11.625                           2                                  2          First Lien                                         Y
           16048003                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         Y
           16048005                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         Y
           16048007                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16048009                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16048010                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         Y
           16048011                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048013                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16048016                     2.25                                     20101101                        9.25                           2                                  2          First Lien                                         Y
           16048017                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16048022                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048023                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16048025                     2.25                                     20110101                      11.125                           2                                  2          First Lien                                         Y
           16048027                     2.25                                     20101001                      10.625                           2                                  2          First Lien                                         Y
           16048028                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         N
           16048029                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16048030                     2.25                                     20110201                          11                           2                                  2          First Lien                                         N
           16048031                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16048032                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16048034                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16048035                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         N
           16048036                     2.25                                     20110301                      11.125                           2                                  2          First Lien                                         Y
           16048039                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16048040                     2.25                                     20110201                         9.5                           2                                  2          First Lien                                         Y
           16048041                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048042                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048043                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         N
           16048044                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16048047                     2.25                                     20110201                      11.875                           2                                  2          First Lien                                         Y
           16048051                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048052                    2.875                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048053                     2.25                                     20110301                       11.25                       2.135                                  2          First Lien                                         Y
           16048054                     2.25                                     20110301                      11.375                           2                                  2          First Lien                                         Y
           16048055                     2.25                                     20110301                      10.625                           2                                  2          First Lien                                         Y
           16048057                     2.25                                     20110301                        10.5                           2                                  2          First Lien                                         Y
           16048058                     2.25                                     20110201                        11.5                           2                                  2          First Lien                                         Y
           16048059                     2.25                                     20110201                      11.125                           2                                  2          First Lien                                         Y
           16048060                     2.25                                     20110301                        10.5                           2                                  2          First Lien                                         Y
           16048061                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         Y
           16048063                     2.25                                     20110201                      11.625                           2                                  2          First Lien                                         Y
           16048064                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         N
           16048066                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16048067                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048070                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16048071                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048072                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16048073                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16048074                     2.25                                     20110301                      10.375                           2                                  2          First Lien                                         Y
           16048075                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16048076                     2.25                                     20110201                        10.5                           2                                  2          First Lien                                         Y
           16048077                    2.875                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048078                     2.25                                     20110201                       11.25                       2.135                                  2          First Lien                                         Y
           16048079                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16048080                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16048081                     2.25                                     20110201                          11                           2                                  2          First Lien                                         Y
           16048083                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         Y
           16048084                        3                                     20100501                      10.875                           2                                  2          First Lien                                         N
           16048086                     2.25                                     20110201                      11.125                        2.75                                  2          First Lien                                         N
           16048087                     2.25                                     20110201                      11.375                           2                                  2          First Lien                                         Y
           16166797                     2.25                                     20090401                       11.75                           2                                  2          First Lien                                         Y
           16166649                     2.25                                     20090401                      11.875                           2                                  2          First Lien                                         N
           16166730                     2.25                                     20090401                      11.875                           2                                  2          First Lien                                         Y
           16166615                     2.25                                     20090401                      12.375                           2                                  2          First Lien                                         Y
           16166582                     2.25                                     20090401                       12.25                           2                                  2          First Lien                                         Y
           16166471                     2.25                                     20090401                       12.25                           2                                  2          First Lien                                         Y
           16166475                     2.25                                     20090401                      11.875                           2                                  2          First Lien                                         Y
           16166437                     2.25                                     20090401                        12.5                           2                                  2          First Lien                                         Y
           16166450                     2.25                                     20090401                      12.375                           2                                  2          First Lien                                         Y
           16166320                     2.25                                     20090401                      11.875                           2                                  2          First Lien                                         Y
           16166337                     2.25                                     20090401                        12.5                           2                                  2          First Lien                                         Y
           16166347                     2.25                                     20090401                       12.75                           2                                  2          First Lien                                         N
           16166275                     2.25                                     20090401                       11.75                           2                                  2          First Lien                                         Y
           16166095                     2.25                                     20090301                        12.5                           2                                  2          First Lien                                         Y
           16166097                     2.25                                     20090301                       12.75                           2                                  2          First Lien                                         Y
           16166101                     2.25                                     20090301                          12                           2                                  2          First Lien                                         N
           16166119                     2.25                                     20090301                       11.75                           2                                  2          First Lien                                         N
           16166120                     2.25                                     20090301                      12.125                           2                                  2          First Lien                                         Y
           16166134                     2.25                                     20090301                      12.625                           2                                  2          First Lien                                         Y
           16166140                     2.25                                     20090401                       12.25                           2                                  2          First Lien                                         Y
           16166146                     2.25                                     20090301                      12.125                           2                                  2          First Lien                                         Y
           16166150                     2.25                                     20090401                      11.875                           2                                  2          First Lien                                         Y
           16166158                     3.25                                     20090201                        12.5                           2                                  2          First Lien                                         N
           16166162                     2.25                                     20090301                          12                           3                                  2          First Lien                                         N
           16166165                     2.25                                     20090401                      11.875                           2                                  2          First Lien                                         Y
           16166190                     2.25                                     20090401                      12.875                           2                                  2          First Lien                                         N
           16166191                     2.25                                     20090301                      11.875                           2                                  2          First Lien                                         Y
           16166192                     2.25                                     20090401                       12.75                           2                                  2          First Lien                                         N
           16166250                     2.25                                     20090401                      12.875                           2                                  2          First Lien                                         Y
           16166072                     2.25                                     20090301                        12.5                           2                                  2          First Lien                                         Y
           16166081                     2.75                                     20081001                      11.875                           2                                  2          First Lien                                         N
           16166088                     2.25                                     20081001                      12.125                         2.5                                  2          First Lien                                         Y
           16166094                     2.25                                     20090301                       12.25                           2                                  2          First Lien                                         N
           16166794                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166798                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166747                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166751                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166754                     2.25                                     20110401                      10.125                           2                                  2          First Lien                                         Y
           16166759                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16166763                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166766                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166768                     2.25                                     20110401                          13                           2                                  2          First Lien                                         Y
           16166769                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166771                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166734                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166735                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166736                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166738                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166631                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16166632                     2.25                                     20110401                      10.125                           2                                  2          First Lien                                         Y
           16166635                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166642                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166644                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166653                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16166657                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166662                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16166665                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166667                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166680                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16166693                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166694                     2.25                                     20110501                          12                           2                                  2          First Lien                                         Y
           16166696                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166701                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166703                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166705                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166713                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166715                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166719                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166722                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16166584                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16166587                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166589                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166590                     2.25                                     20110401                      12.625                           2                                  2          First Lien                                         Y
           16166596                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166598                     2.25                                     20110401                      10.375                           2                                  2          First Lien                                         Y
           16166602                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166604                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166605                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166606                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166609                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166611                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166574                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166578                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166456                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166472                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166473                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166476                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166479                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166481                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166482                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166483                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166493                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16166497                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166498                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166500                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         N
           16166501                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166504                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166505                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166510                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166527                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166528                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166531                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16166534                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166535                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166536                     2.25                                     20110401                       10.25                           2                                  2          First Lien                                         Y
           16166542                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166554                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166555                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166556                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166563                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166570                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16166413                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166414                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166415                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166416                     2.25                                     20110401                        9.75                           2                                  2          First Lien                                         Y
           16166423                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166424                     2.25                                     20110401                       10.25                           2                                  2          First Lien                                         Y
           16166438                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166440                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         N
           16166329                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166345                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166350                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166354                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166355                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166356                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16166362                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         N
           16166363                     2.25                                     20110301                      10.625                           2                                  2          First Lien                                         Y
           16166369                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166370                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166371                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166373                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166376                     2.25                                     20110401                      10.125                           2                                  2          First Lien                                         Y
           16166401                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16166402                     2.25                                     20110401                      10.375                           2                                  2          First Lien                                         Y
           16166405                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         N
           16166408                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166409                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         N
           16166410                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166412                     2.25                                     20110401                      10.375                           2                                  2          First Lien                                         Y
           16166284                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         N
           16166287                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166292                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166293                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         N
           16166294                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166300                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166302                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166316                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166096                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16166099                     2.25                                     20110201                       10.75                           2                                  2          First Lien                                         Y
           16166103                     2.25                                     20110301                        12.5                           2                                  2          First Lien                                         Y
           16166105                     2.25                                     20110301                          11                           2                                  2          First Lien                                         Y
           16166111                     2.25                                     20110301                       11.75                           2                                  2          First Lien                                         Y
           16166114                     2.25                                     20110301                      11.125                           2                                  2          First Lien                                         Y
           16166117                     2.25                                     20110301                      11.125                           2                                  2          First Lien                                         Y
           16166131                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166132                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         N
           16166133                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16166139                     2.25                                     20110301                       10.75                           2                                  2          First Lien                                         Y
           16166144                     2.25                                     20110301                      12.625                           2                                  2          First Lien                                         Y
           16166171                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166172                     2.25                                     20110401                          12                           2                                  2          First Lien                                         Y
           16166173                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166174                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166181                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166184                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16166186                     2.25                                     20101101                       9.875                           2                                  2          First Lien                                         N
           16166195                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166196                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166205                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         Y
           16166210                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166211                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166212                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166214                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166215                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166219                     2.25                                     20110301                        11.5                           2                                  2          First Lien                                         Y
           16166222                     2.25                                     20110301                          11                           2                                  2          First Lien                                         Y
           16166229                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166230                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166239                     2.25                                     20110401                       10.99                           2                                  2          First Lien                                         N
           16166243                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166244                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166258                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166261                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166262                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16166264                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166265                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16166070                     2.25                                     20110401                       10.25                           2                                  2          First Lien                                         Y
           16166071                     2.25                                     20101001                      10.375                           2                                  2          First Lien                                         N
           16166073                     2.25                                     20101201                      10.625                           2                                  2          First Lien                                         Y
           16166077                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166079                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166085                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166087                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166093                     2.25                                     20110101                      10.875                           2                                  2          First Lien                                         Y
           16184179                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16184180                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16184181                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16184183                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16184184                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16184185                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16184186                     2.25                                     20130401                          11                           2                                  2          First Lien                                         N
           16184187                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16184188                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16184189                     2.75                                     20130401                      11.375                           2                                  2          First Lien                                         N
           16184191                     2.25                                     20130401                        11.5                         2.5                                  2          First Lien                                         Y
           16184193                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16184195                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16184196                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16184198                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16184199                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16184200                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16184202                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16184203                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16184204                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16184205                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16184209                     2.25                                     20130401                          11                           2                                  2          First Lien                                         N
           16184212                     2.25                                     20130401                      11.875                           2                                  2          First Lien                                         Y
           16184214                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         N
           16184217                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         N
           16184218                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         Y
           16184219                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16184220                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16184221                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16184223                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16184224                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16184225                     2.25                                     20130501                       10.75                           2                                  2          First Lien                                         Y
           16184226                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16184227                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16184228                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         N
           16184229                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16184230                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         N
           16184232                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16184234                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16184236                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16184239                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16184241                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         Y
           16184245                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16184257                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16184259                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16184262                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         N
           16184265                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16184266                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16184268                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16184176                     2.25                                     20121001                      10.875                           2                                  2          First Lien                                         N
           16184177                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         N
           16166799                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166800                     2.25                                     20130301                      11.875                           2                                  2          First Lien                                         Y
           16166802                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16166756                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166760                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166764                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16166785                     2.75                                     20130301                       11.25                           2                                  2          First Lien                                         N
           16166739                     2.25                                     20130401                      11.125                         2.5                                  2          First Lien                                         N
           16166620                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16166624                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166626                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166646                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         N
           16166673                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         N
           16166674                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16166675                     2.25                                     20130401                      12.125                           2                                  2          First Lien                                         Y
           16166687                     2.25                                     20130401                      11.875                           2                                  2          First Lien                                         Y
           16166731                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16166594                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16166599                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16166600                     2.25                                     20130401                        10.5                           2                                  2          First Lien                                         Y
           16166573                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166581                     2.25                                     20130401                       10.75                           2                                  2          First Lien                                         N
           16166453                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         N
           16166465                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         N
           16166466                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166468                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166484                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166485                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         N
           16166487                     2.25                                     20130401                      10.625                           2                                  2          First Lien                                         Y
           16166489                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166490                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166496                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166506                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166507                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166512                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16166517                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166529                     2.25                                     20130401                       10.75                           2                                  2          First Lien                                         Y
           16166537                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         N
           16166558                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166559                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166564                     2.25                                     20130401                          11                           2                                  2          First Lien                                         N
           16166420                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166427                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16166429                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166432                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166434                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166446                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166448                     2.25                                     20130401                          11                           2                                  2          First Lien                                         N
           16166452                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166324                     2.25                                     20130301                          11                           2                                  2          First Lien                                         Y
           16166330                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166332                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16166333                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166342                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166346                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166348                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166351                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166352                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         N
           16166358                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16166360                     2.25                                     20130401                       10.75                           2                                  2          First Lien                                         Y
           16166368                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166374                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         N
           16166375                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166381                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166383                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166391                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166393                     2.25                                     20130401                          12                           2                                  2          First Lien                                         Y
           16166399                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166271                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166272                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16166274                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166278                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16166281                     2.25                                     20130401                          11                           2                                  2          First Lien                                         N
           16166288                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166304                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166305                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166306                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166308                     2.25                                     20130401                      10.375                           2                                  2          First Lien                                         N
           16166311                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166317                     2.25                                     20130401                       10.25                           2                                  2          First Lien                                         Y
           16166100                     2.25                                     20130201                       11.75                           2                                  2          First Lien                                         Y
           16166109                     2.25                                     20130301                      11.125                           2                                  2          First Lien                                         Y
           16166118                     2.25                                     20130301                      11.875                           2                                  2          First Lien                                         Y
           16166123                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166126                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16166129                     2.25                                     20130301                       11.75                           2                                  2          First Lien                                         Y
           16166137                     2.25                                     20130301                      11.625                           2                                  2          First Lien                                         Y
           16166141                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166157                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166166                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166177                     2.25                                     20130401                      11.875                           2                                  2          First Lien                                         Y
           16166180                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16166182                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166185                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16166187                     2.25                                     20130401                      11.875                           2                                  2          First Lien                                         Y
           16166193                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         N
           16166198                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16166199                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166221                     2.25                                     20130301                      11.625                           2                                  2          First Lien                                         Y
           16166224                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16166227                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166233                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166236                     2.25                                     20130401                          11                           2                                  2          First Lien                                         N
           16166251                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16166254                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         Y
           16166263                     2.25                                     20130401                      11.125                           2                                  2          First Lien                                         Y
           16166266                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166078                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16166082                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16166089                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         Y
           16177241                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177242                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16177243                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16177244                     2.25                                     20110501                        10.5                           2                                  2          First Lien                                         Y
           16177245                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         N
           16177220                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177221                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16177222                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16177223                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16177224                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16177225                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16177226                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177227                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177228                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16177229                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177230                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177231                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177232                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177233                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177234                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177235                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177236                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         Y
           16177237                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16177238                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16177239                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         N
           16177240                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16177210                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16177211                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177212                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16177213                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         N
           16177214                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16177215                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177216                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16177217                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177218                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16177219                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177170                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16177171                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16177172                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177173                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16177174                     2.25                                     20110501                      11.875                           2                                  2          First Lien                                         Y
           16177175                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         N
           16177176                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177177                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177178                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         N
           16177179                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177180                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177181                     2.25                                     20110401                       9.875                           2                                  2          First Lien                                         Y
           16177182                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16177183                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177184                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177185                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177186                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177187                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177188                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177189                    2.875                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16177190                     2.25                                     20110401                       11.25                       2.135                                  2          First Lien                                         Y
           16177191                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177192                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177193                     2.25                                     20110401                       10.25                           2                                  2          First Lien                                         Y
           16177194                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177195                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16177196                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         N
           16177197                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177198                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177199                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177165                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177166                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16177167                     2.25                                     20110301                       12.25                           2                                  2          First Lien                                         Y
           16177168                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177169                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177113                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177114                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177115                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177116                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16177117                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177118                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16177119                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177120                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177121                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177122                     2.25                                     20110401                          12                           2                                  2          First Lien                                         Y
           16177123                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177124                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177125                     2.25                                     20110401                       12.25                           2                                  2          First Lien                                         Y
           16177126                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177127                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177128                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177129                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177130                     2.25                                     20101201                       10.25                           2                                  2          First Lien                                         Y
           16177131                     2.25                                     20110301                      10.625                           2                                  2          First Lien                                         Y
           16177132                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         Y
           16177133                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177134                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177135                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177136                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177137                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16177138                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177139                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177140                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177141                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16177142                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177143                     2.25                                     20110401                      10.375                           2                                  2          First Lien                                         N
           16177144                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177145                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177146                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177147                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16177148                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177110                     2.25                                     20110301                      11.375                           2                                  2          First Lien                                         Y
           16177111                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         Y
           16177112                     2.25                                     20110201                      10.875                           2                                  2          First Lien                                         Y
           16177149                     2.25                                     20101201                       10.25                           2                                  2          First Lien                                         Y
           16177150                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177152                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16177153                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16177154                     2.25                                     20110301                        11.5                           2                                  2          First Lien                                         Y
           16177155                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         N
           16177157                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177158                     2.25                                     20110201                       11.25                           2                                  2          First Lien                                         Y
           16177159                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177160                     2.25                                     20110301                          10                           2                                  2          First Lien                                         Y
           16177161                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177162                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         N
           16177163                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177164                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16177100                     2.25                                     20110401                          12                           2                                  2          First Lien                                         Y
           16177101                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177102                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16177103                     2.25                                     20110401                      10.125                           2                                  2          First Lien                                         Y
           16177104                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177105                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         N
           16177106                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177107                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16177108                     2.25                                     20101201                      11.375                           2                                  2          First Lien                                         Y
           16177109                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177200                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177201                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16177202                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16177203                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177204                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16177205                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16177206                     2.25                                     20110501                          11                           2                                  2          First Lien                                         N
           16177207                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16177208                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177209                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177090                     2.25                                     20101001                      10.875                           2                                  2          First Lien                                         Y
           16177091                     2.25                                     20110401                      10.125                           2                                  2          First Lien                                         Y
           16177092                     2.25                                     20110501                      10.375                           2                                  2          First Lien                                         Y
           16177093                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16177094                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16177095                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16177096                     2.25                                     20110301                          11                           2                                  2          First Lien                                         Y
           16177097                     2.25                                     20110101                        11.5                           2                                  2          First Lien                                         Y
           16177098                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         Y
           16177099                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16218249                     2.25                                     20110501                       12.25                           2                                  2          First Lien                                         N
           16218250                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218251                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16218252                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218244                     2.25                                     20110501                          10                           2                                  2          First Lien                                         Y
           16218245                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218246                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218247                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218248                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         N
           16218236                     2.25                                     20110501                      11.875                           2                                  2          First Lien                                         Y
           16218237                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218238                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218239                     2.25                                     20110501                       10.75                           2                                  2          First Lien                                         N
           16218240                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218241                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218242                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218243                     2.25                                     20110501                          12                           2                                  2          First Lien                                         Y
           16218230                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         Y
           16218231                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218232                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218233                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         N
           16218234                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218235                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218227                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218228                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218229                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218226                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218150                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218151                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         Y
           16218152                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218153                     2.25                                     20110501                          12                           2                                  2          First Lien                                         Y
           16218154                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218155                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16218156                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218157                     2.25                                     20110501                        10.5                           2                                  2          First Lien                                         Y
           16218158                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218159                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218160                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218161                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218162                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218163                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         Y
           16218164                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218165                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218166                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218167                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218168                     2.25                                     20110501                      12.375                           2                                  2          First Lien                                         Y
           16218169                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218126                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218170                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218171                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218172                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218173                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218174                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218175                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218176                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         N
           16218177                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218178                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218179                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218180                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         Y
           16218127                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16218128                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218129                     2.25                                     20110501                          12                           2                                  2          First Lien                                         Y
           16218181                     2.25                                     20110501                          11                           2                                  2          First Lien                                         N
           16218182                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218183                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218184                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218185                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         N
           16218130                    2.875                                     20110501                          12                           2                                  2          First Lien                                         Y
           16218131                     2.25                                     20110401                       11.25                       2.095                                  2          First Lien                                         Y
           16218132                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16218186                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         N
           16218187                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218188                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218189                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218190                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16218191                     2.25                                     20110501                      10.375                           2                                  2          First Lien                                         Y
           16218192                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218193                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218194                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218195                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218196                     2.25                                     20110501                          11                           2                                  2          First Lien                                         N
           16218197                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218198                     2.25                                     20110501                      11.875                           2                                  2          First Lien                                         Y
           16218199                    2.875                                     20110501                       10.25                           2                                  2          First Lien                                         Y
           16218133                     2.25                                     20110501                          11                       2.135                                  2          First Lien                                         Y
           16218134                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218135                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         N
           16218136                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218137                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218138                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16218139                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16218140                     2.25                                     20110501                       10.75                           2                                  2          First Lien                                         Y
           16218141                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         N
           16218142                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16218143                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218144                     2.25                                     20110501                      12.375                           2                                  2          First Lien                                         Y
           16218145                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218146                     2.25                                     20110501                       10.75                           2                                  2          First Lien                                         N
           16218147                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         N
           16218148                     2.25                                     20110301                      11.375                           2                                  2          First Lien                                         N
           16218149                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218100                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16218101                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16218102                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16218103                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16218104                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218105                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16218106                     2.25                                     20110301                      11.375                           2                                  2          First Lien                                         Y
           16218113                     2.25                                     20110501                          11                           2                                  2          First Lien                                         N
           16218114                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         Y
           16218115                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218116                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16218117                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218118                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218119                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218107                     2.25                                     20110401                      12.125                           2                                  2          First Lien                                         N
           16218108                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16218109                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16218120                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         N
           16218121                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16218122                     2.25                                     20110501                      12.625                           2                                  2          First Lien                                         N
           16218123                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218124                     2.25                                     20110501                       10.75                           2                                  2          First Lien                                         Y
           16218125                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218110                     2.25                                     20110501                       12.75                           2                                  2          First Lien                                         Y
           16218111                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218112                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16218083                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218084                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16218085                     2.25                                     20110501                       10.75                           2                                  2          First Lien                                         Y
           16218086                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218087                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218088                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218089                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16218090                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16218091                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16218092                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16218093                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         N
           16218094                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16218095                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16218096                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16218097                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16218098                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16218099                     2.25                                     20110501                       12.75                           2                                  2          First Lien                                         Y
           16218300                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218301                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218302                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         Y
           16218303                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218304                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218305                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218306                     2.25                                     20110501                      12.125                           2                                  2          First Lien                                         Y
           16218307                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         N
           16218308                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218309                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218310                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218311                     2.25                                     20110501                      11.875                           2                                  2          First Lien                                         Y
           16218312                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218313                     2.25                                     20110501                      12.125                           2                                  2          First Lien                                         Y
           16218314                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218315                     2.25                                     20110501                          11                           2                                  2          First Lien                                         N
           16218316                     2.25                                     20110501                      11.875                           2                                  2          First Lien                                         Y
           16218317                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218318                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218319                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218320                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218321                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218322                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         Y
           16218323                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         Y
           16218324                     2.25                                     20110601                      11.125                           2                                  2          First Lien                                         Y
           16218325                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218326                     2.25                                     20110501                       10.75                           2                                  2          First Lien                                         Y
           16218327                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218328                     2.25                                     20110601                      11.875                           2                                  2          First Lien                                         Y
           16218329                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218330                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218331                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218332                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218220                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         N
           16218221                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218222                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218223                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         N
           16218224                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218225                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218200                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218201                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         N
           16218202                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218203                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218204                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218205                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218206                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         N
           16218207                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218208                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218209                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218210                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218211                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218212                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218213                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218214                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218215                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218216                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218217                     2.25                                     20110501                      11.875                           2                                  2          First Lien                                         Y
           16218218                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218256                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218257                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218258                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         Y
           16218259                     2.25                                     20110501                      10.125                           2                                  2          First Lien                                         Y
           16218260                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         N
           16218261                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218262                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218263                    3.125                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218264                     2.25                                     20110501                       10.75                       2.295                                  2          First Lien                                         Y
           16218265                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218266                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218267                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218268                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         N
           16218269                     2.25                                     20110501                        10.5                           2                                  2          First Lien                                         Y
           16218253                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218270                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218271                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218272                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218273                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         N
           16218274                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218275                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218276                     2.25                                     20110501                      12.375                           2                                  2          First Lien                                         Y
           16218277                     2.25                                     20110501                      11.875                           2                                  2          First Lien                                         Y
           16218278                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218279                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218280                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         N
           16218281                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218282                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         Y
           16218283                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         N
           16218284                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         Y
           16218285                     2.25                                     20110501                      10.625                           2                                  2          First Lien                                         Y
           16218286                     2.25                                     20110501                      11.375                           2                                  2          First Lien                                         Y
           16218287                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218288                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218289                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         N
           16218290                     2.25                                     20110501                        11.5                           2                                  2          First Lien                                         Y
           16218291                     2.25                                     20110501                      11.625                           2                                  2          First Lien                                         Y
           16218292                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218293                     2.75                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218294                     2.25                                     20110501                      11.875                        2.11                                  2          First Lien                                         Y
           16218295                     2.25                                     20110501                      11.125                           2                                  2          First Lien                                         Y
           16218296                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218297                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218298                     2.25                                     20110501                       11.75                           2                                  2          First Lien                                         Y
           16218299                     2.25                                     20110501                       11.25                           2                                  2          First Lien                                         Y
           16218254                     2.25                                     20110501                          11                           2                                  2          First Lien                                         Y
           16218255                     2.25                                     20110501                      10.875                           2                                  2          First Lien                                         N
           16199805                     2.25                                     20160401                        10.5                           2                                  2          First Lien                                         N
           16199806                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         N
           16199807                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199808                     2.25                                     20160501                          12                           2                                  2          First Lien                                         N
           16199809                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199810                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199811                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199812                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199813                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199814                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199815                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199816                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199817                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199818                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         N
           16199819                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199820                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16199821                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199822                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199823                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199824                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199825                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199826                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199827                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         N
           16199829                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         N
           16199830                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         N
           16199831                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199832                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199833                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199834                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199835                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199836                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199837                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199838                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16199839                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16199840                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         N
           16199841                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199842                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199843                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16199844                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199845                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199846                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         N
           16199847                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199848                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16199849                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199850                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199851                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199852                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199853                     2.25                                     20160201                      11.125                           2                                  2          First Lien                                         Y
           16199854                     2.25                                     20160101                      10.875                           2                                  2          First Lien                                         N
           16199855                     2.25                                     20160501                          11                           2                                  2          First Lien                                         N
           16199795                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199796                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199797                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199798                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199799                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199705                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199706                     2.25                                     20160401                      10.875                           2                                  2          First Lien                                         Y
           16199707                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199708                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16199709                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199710                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199711                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199712                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16199713                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199714                     2.25                                     20160401                          11                           2                                  2          First Lien                                         Y
           16199715                     2.25                                     20160101                        11.5                           2                                  2          First Lien                                         Y
           16199716                     2.25                                     20160301                        11.5                           2                                  2          First Lien                                         Y
           16199717                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         N
           16199718                     2.25                                     20160201                      11.625                           2                                  2          First Lien                                         Y
           16199719                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199700                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199701                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199702                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199703                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199704                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199787                     2.25                                     20160401                      10.875                           2                                  2          First Lien                                         Y
           16199788                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199789                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199790                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199791                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199792                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199793                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199794                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199690                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16199691                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199692                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199693                     2.25                                     20160401                       11.75                           2                                  2          First Lien                                         Y
           16199694                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199695                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199696                     2.25                                     20160301                        10.5                           2                                  2          First Lien                                         N
           16199697                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199698                     2.25                                     20160401                       11.75                           2                                  2          First Lien                                         Y
           16199699                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199680                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199681                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199682                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199683                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199684                     2.25                                     20160401                       11.75                           2                                  2          First Lien                                         N
           16199685                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199686                     2.25                                     20160401                       11.75                           2                                  2          First Lien                                         Y
           16199687                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199688                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199689                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199663                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199664                     2.25                                     20160401                      12.375                           2                                  2          First Lien                                         Y
           16199665                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199666                     2.25                                     20160401                       10.75                           2                                  2          First Lien                                         Y
           16199667                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199668                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199669                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199670                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199671                     2.25                                     20160401                      10.875                           2                                  2          First Lien                                         N
           16199672                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199673                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         N
           16199674                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199675                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199676                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199677                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199678                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199679                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199753                     2.25                                     20160401                       10.75                           2                                  2          First Lien                                         N
           16199754                     2.25                                     20160501                          11                           2                                  2          First Lien                                         N
           16199760                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199762                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199763                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199764                     2.25                                     20160401                       10.75                           2                                  2          First Lien                                         N
           16199765                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199766                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199767                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199768                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199769                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199770                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199771                     2.75                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16199772                     2.25                                     20160501                          11                         2.5                                  2          First Lien                                         Y
           16199773                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199774                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199775                     2.25                                     20160501                          11                           2                                  2          First Lien                                         N
           16199776                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199777                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199778                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199779                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199780                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199781                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199782                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199783                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199784                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         N
           16199785                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16199786                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199755                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199756                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199757                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199758                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199759                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199632                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199633                     2.25                                     20160101                       10.75                           2                                  2          First Lien                                         N
           16199634                     2.25                                     20160101                       10.75                           2                                  2          First Lien                                         Y
           16199635                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199636                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199637                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199638                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199639                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16199640                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16199641                     2.25                                     20160401                      10.875                           2                                  2          First Lien                                         N
           16199642                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199643                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16199644                     2.25                                     20160401                          11                           2                                  2          First Lien                                         Y
           16199645                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16199646                     2.25                                     20160401                          11                           2                                  2          First Lien                                         Y
           16199647                     2.25                                     20160101                       11.75                           2                                  2          First Lien                                         Y
           16199648                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199649                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199650                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199651                     2.25                                     20160301                        11.5                           2                                  2          First Lien                                         Y
           16199652                     2.25                                     20160301                      11.375                           2                                  2          First Lien                                         Y
           16199653                     2.25                                     20160301                       11.25                           2                                  2          First Lien                                         Y
           16199654                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199655                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199656                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199657                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16199658                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199659                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         N
           16199660                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199661                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199662                     2.25                                     20160401                          11                           2                                  2          First Lien                                         N
           16199723                     2.25                                     20160401                        11.5                           2                                  2          First Lien                                         N
           16199724                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199725                     2.25                                     20160301                       11.25                           2                                  2          First Lien                                         Y
           16199726                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199727                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16199728                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199729                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199730                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16199731                     2.25                                     20160501                       10.75                           2                                  2          First Lien                                         Y
           16199732                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16199733                     2.25                                     20160301                      11.375                           2                                  2          First Lien                                         Y
           16199734                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199735                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199736                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199737                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199738                     2.25                                     20160501                       10.25                           2                                  2          First Lien                                         Y
           16199739                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199740                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199741                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199742                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16199743                     2.25                                     20160401                          11                           2                                  2          First Lien                                         Y
           16199744                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199745                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199746                     2.25                                     20160401                          11                           2                                  2          First Lien                                         Y
           16199747                     2.25                                     20160401                      11.625                           2                                  2          First Lien                                         Y
           16199748                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199749                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199750                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16199751                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199752                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199720                     2.25                                     20160301                          11                           2                                  2          First Lien                                         Y
           16199721                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16199722                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16232382                     2.25                                     20150901                       10.75                           2                                  2          First Lien                                         Y
           16199856                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16199857                     2.25                                     20160501                          12                           2                                  2          First Lien                                         Y
           16199800                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         N
           16199801                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16199802                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16199803                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16199804                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218700                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218701                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218702                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218703                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218704                     2.25                                     20130501                          12                           2                                  2          First Lien                                         Y
           16218705                     2.25                                     20130501                      11.875                           2                                  2          First Lien                                         Y
           16218706                     2.25                                     20130501                          12                           2                                  2          First Lien                                         Y
           16218707                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218708                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         N
           16218709                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218710                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218711                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218712                     2.25                                     20130501                      10.625                           2                                  2          First Lien                                         Y
           16218713                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218714                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         Y
           16218715                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218716                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218717                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218718                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218719                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218720                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218721                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218722                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218723                     2.25                                     20130501                          12                           2                                  2          First Lien                                         Y
           16218724                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218725                     2.25                                     20130501                      11.875                           2                                  2          First Lien                                         Y
           16218624                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218625                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16218626                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218627                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218628                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218629                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16218630                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218631                     2.25                                     20130501                        12.5                           2                                  2          First Lien                                         Y
           16218632                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16218633                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218634                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218635                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218636                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218637                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218638                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16218639                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218640                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218641                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218642                     2.25                                     20130501                       10.75                           2                                  2          First Lien                                         N
           16218643                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218644                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218645                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218646                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         Y
           16218647                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218648                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         Y
           16218649                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218650                     2.25                                     20130401                       10.75                           2                                  2          First Lien                                         N
           16218651                     2.25                                     20130401                      10.875                           2                                  2          First Lien                                         N
           16218652                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218653                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         N
           16218654                     2.25                                     20130501                       10.75                           2                                  2          First Lien                                         Y
           16218655                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218656                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218657                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218658                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         Y
           16218659                     2.25                                     20130501                      11.875                           2                                  2          First Lien                                         Y
           16218660                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218661                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16218662                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         N
           16218663                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218664                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218665                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218666                     2.25                                     20130501                      12.125                           2                                  2          First Lien                                         N
           16218667                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         N
           16218668                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218669                     2.25                                     20130501                       10.25                           2                                  2          First Lien                                         Y
           16218670                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16218671                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         N
           16218672                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218673                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16218674                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         N
           16218675                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218676                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218677                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218678                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218679                     2.25                                     20130501                       12.25                           2                                  2          First Lien                                         Y
           16218680                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         N
           16218681                     2.25                                     20130501                      10.875                           2                                  2          First Lien                                         Y
           16218682                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218683                     2.25                                     20130501                      11.875                           2                                  2          First Lien                                         Y
           16218684                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         N
           16218685                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218686                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         N
           16218687                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218688                     2.25                                     20130501                          12                           2                                  2          First Lien                                         Y
           16218689                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218690                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218691                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218692                     2.25                                     20130501                      12.125                           2                                  2          First Lien                                         Y
           16218693                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         N
           16218694                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218695                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218696                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218697                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218608                     2.25                                     20130401                          10                           2                                  2          First Lien                                         Y
           16218609                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218698                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218699                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16223053                     2.25                                     20130501                      11.875                           2                                  2          First Lien                                         Y
           16223054                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16223055                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16223056                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16223057                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16223058                     2.25                                     20130601                      11.375                           2                                  2          First Lien                                         Y
           16223059                     2.25                                     20130601                        11.5                           2                                  2          First Lien                                         Y
           16218610                     2.25                                     20130401                      11.625                           2                                  2          First Lien                                         Y
           16218611                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218612                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218613                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218614                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         N
           16218615                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218616                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218617                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218618                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16218619                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16218620                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218621                     2.25                                     20130401                        11.5                           2                                  2          First Lien                                         Y
           16218622                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16218623                     2.25                                     20130401                          11                           2                                  2          First Lien                                         N
           16218600                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16218601                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218602                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218603                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218604                     2.25                                     20130401                      11.875                           2                                  2          First Lien                                         Y
           16218605                     2.25                                     20130501                      11.875                           2                                  2          First Lien                                         Y
           16218606                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         N
           16218607                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16218597                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218598                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         N
           16218599                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218570                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218571                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         N
           16218572                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218573                     2.25                                     20130501                          11                           2                                  2          First Lien                                         Y
           16218574                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218575                     2.25                                     20130501                      12.375                           2                                  2          First Lien                                         Y
           16218576                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         N
           16218577                     2.75                                     20130401                      11.375                           2                                  2          First Lien                                         N
           16218578                     2.25                                     20130401                          11                         2.5                                  2          First Lien                                         Y
           16218579                     2.25                                     20130401                       11.25                           2                                  2          First Lien                                         N
           16218580                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16218581                     2.25                                     20130401                       11.75                           2                                  2          First Lien                                         Y
           16218582                     2.25                                     20130401                       12.25                           2                                  2          First Lien                                         Y
           16218583                     2.25                                     20130501                       11.25                           2                                  2          First Lien                                         Y
           16218584                     2.25                                     20130401                          11                           2                                  2          First Lien                                         Y
           16218585                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16218586                     2.25                                     20130401                      11.375                           2                                  2          First Lien                                         Y
           16218587                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         N
           16218588                     2.25                                     20130501                      11.375                           2                                  2          First Lien                                         Y
           16218589                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218590                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         Y
           16218591                     2.25                                     20130501                      11.625                           2                                  2          First Lien                                         Y
           16218592                     2.25                                     20130501                       11.75                           2                                  2          First Lien                                         Y
           16218593                     2.25                                     20130501                        11.5                           2                                  2          First Lien                                         N
           16218594                     2.75                                     20130501                      12.125                           2                                  2          First Lien                                         N
           16218595                     2.25                                     20130401                          11                         2.5                                  2          First Lien                                         Y
           16218596                     2.25                                     20130501                      11.125                           2                                  2          First Lien                                         Y
           16232384                     2.25                                     20120701                      10.375                           2                                  2          First Lien                                         Y
           16218960                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218961                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218962                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218963                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218964                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16218965                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         N
           16218966                     2.25                                     20160501                       9.625                           2                                  2          First Lien                                         Y
           16218967                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218968                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218969                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16218970                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218971                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218972                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218973                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         N
           16218974                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218975                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218976                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218977                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218978                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218979                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218980                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218981                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218982                     2.25                                     20160601                       11.25                           2                                  2          First Lien                                         Y
           16218983                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16218984                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218985                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16218986                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218987                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218988                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218989                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218990                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218991                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218992                     2.25                                     20160601                      11.625                           2                                  2          First Lien                                         Y
           16218993                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218994                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16218995                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218996                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218997                     2.25                                     20160601                      11.625                           2                                  2          First Lien                                         Y
           16218998                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218999                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218940                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218941                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218942                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16218943                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218944                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16218945                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         N
           16218946                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218947                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218948                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218949                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16218950                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218951                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218952                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218953                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218954                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218955                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218956                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16218957                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218958                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218959                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218930                     2.25                                     20160501                        10.5                           2                                  2          First Lien                                         Y
           16218931                     2.25                                     20160401                      10.625                           2                                  2          First Lien                                         Y
           16218932                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218933                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         N
           16218934                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218935                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218936                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218937                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218938                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16218939                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218885                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16218886                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16218887                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16218888                     2.25                                     20160101                        11.5                           2                                  2          First Lien                                         Y
           16218889                     2.25                                     20160401                          11                           2                                  2          First Lien                                         Y
           16218890                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218891                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218892                     2.25                                     20160401                      11.125                           2                                  2          First Lien                                         Y
           16218893                     2.25                                     20160401                          11                           2                                  2          First Lien                                         Y
           16218894                     2.25                                     20160401                       11.25                           2                                  2          First Lien                                         Y
           16218895                     2.25                                     20160401                      11.875                           2                                  2          First Lien                                         Y
           16218896                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16218897                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218898                     2.75                                     20160401                        11.5                           2                                  2          First Lien                                         Y
           16218899                     2.25                                     20160401                      11.625                         2.5                                  2          First Lien                                         Y
           16218880                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218881                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         N
           16218882                     2.25                                     20160501                       10.75                           2                                  2          First Lien                                         Y
           16218883                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218884                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218901                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16218902                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218903                     2.25                                     20160401                      11.375                           2                                  2          First Lien                                         Y
           16218904                     2.25                                     20160501                       10.75                           2                                  2          First Lien                                         Y
           16218905                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16218906                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218907                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16218908                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218909                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16218910                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16218911                     2.25                                     20160501                        12.5                           2                                  2          First Lien                                         Y
           16218912                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16218913                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16218914                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16218915                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16218916                     2.25                                     20160501                          11                           2                                  2          First Lien                                         Y
           16218917                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218918                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16218919                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16218920                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218921                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         N
           16218922                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218923                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16218924                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16218925                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         N
           16218926                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16218927                     2.25                                     20160501                          13                           2                                  2          First Lien                                         Y
           16218928                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16218929                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16218900                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16219027                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16219029                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16219030                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219000                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16219001                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219002                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16219003                     2.25                                     20160501                      11.875                           2                                  2          First Lien                                         Y
           16219004                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16219005                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         N
           16219006                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         N
           16219007                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219008                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219009                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219010                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         N
           16219011                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16219012                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219013                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16219014                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16219015                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219016                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16219017                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219018                     2.25                                     20160501                      10.875                           2                                  2          First Lien                                         Y
           16219019                     2.25                                     20160501                       11.75                           2                                  2          First Lien                                         Y
           16219020                     2.25                                     20160501                        11.5                           2                                  2          First Lien                                         Y
           16219021                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16219022                     2.25                                     20160501                       11.25                           2                                  2          First Lien                                         Y
           16219023                     2.25                                     20160501                      11.375                           2                                  2          First Lien                                         Y
           16219024                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16219025                     2.25                                     20160501                      11.125                           2                                  2          First Lien                                         Y
           16219026                     2.25                                     20160501                      11.625                           2                                  2          First Lien                                         Y
           16132484                     2.75                                     20151101                        11.5                           2                                  2          First Lien                                         Y
           16132485                     2.75                                     20101101                      10.125                         2.5                                  2          First Lien                                         Y
           16132486                     2.75                                     20110201                      10.375                         2.5                                  2          First Lien                                         Y
           16132487                     2.75                                     20101101                       10.75                         2.5                                  2          First Lien                                         Y
           16132488                     2.75                                     20101201                      11.875                         2.5                                  2          First Lien                                         Y
           16132490                     2.75                                     20160301                      11.625                         2.5                                  2          First Lien                                         Y
           16132491                     2.75                                     20121201                      11.625                         2.5                                  2          First Lien                                         Y
           16132492                     2.75                                     20121201                       11.25                         2.5                                  2          First Lien                                         N
           15830580                     2.75                                     20080901                       9.875                         2.5                                  2          First Lien                                         N
           15830659                     2.75                                     20100701                       9.875                         2.5                                  2          First Lien                                         N
           15830691                     2.75                                     20101001                      10.375                         2.5                                  2          First Lien                                         N
           15830692                     2.75                                     20101001                      10.125                         2.5                                  2          First Lien                                         Y
           15830779                     2.75                                     20101001                        10.5                         2.5                                  2          First Lien                                         Y
           15830881                     2.75                                     20101001                        11.5                         2.5                                  2          First Lien                                         Y
           15830883                     2.75                                     20101001                      11.125                         2.5                                  2          First Lien                                         Y
           15830956                     2.75                                     20101001                        10.5                         2.5                                  2          First Lien                                         N
           15830987                     2.75                                     20100901                       9.875                         2.5                                  2          First Lien                                         Y
           15831159                     2.75                                     20101001                      11.125                         2.5                                  2          First Lien                                         Y
           15831162                     2.75                                     20101001                       10.75                         2.5                                  2          First Lien                                         Y
           15831298                     2.75                                     20100301                          10                         2.5                                  2          First Lien                                         N
           15831306                     2.75                                     20100301                       9.875                         2.5                                  2          First Lien                                         N
           15831355                     2.75                                     20100901                          10                         2.5                                  2          First Lien                                         N
           15831373                     2.75                                     20101001                          10                         2.5                                  2          First Lien                                         Y
           15831471                     2.75                                     20101001                       10.75                         2.5                                  2          First Lien                                         Y
           15831507                     2.75                                     20101001                          10                         2.5                                  2          First Lien                                         N
           15831577                     2.75                                     20101001                      10.625                         2.5                                  2          First Lien                                         Y
           15831602                     2.75                                     20101001                      10.875                         2.5                                  2          First Lien                                         Y
           15831626                     2.75                                     20101101                      10.625                         2.5                                  2          First Lien                                         Y
           15831665                     2.75                                     20101001                      10.875                         2.5                                  2          First Lien                                         Y
           15831684                     2.75                                     20101001                      10.875                         2.5                                  2          First Lien                                         Y
           15831701                     2.75                                     20101001                      10.875                         2.5                                  2          First Lien                                         Y
           16019791                     2.75                                     20101001                      10.125                         2.5                                  2          First Lien                                         Y
           16019841                     2.75                                     20101001                      10.125                         2.5                                  2          First Lien                                         N
           16019844                     2.75                                     20101001                          10                         2.5                                  2          First Lien                                         Y
           16020328                     2.25                                     20101001                      10.125                         2.5                                  2          First Lien                                         Y
           16020419                     2.75                                     20101101                       10.25                           2                                  2          First Lien                                         N
           16020619                     2.25                                     20100801                      10.125                         2.5                                  2          First Lien                                         Y
           16020700                     2.75                                     20101201                       10.25                           2                                  2          First Lien                                         N
           16020753                     2.75                                     20090701                       10.25                         2.5                                  2          First Lien                                         N
           16020805                     2.75                                     20101101                       10.25                         2.5                                  2          First Lien                                         Y
           16020911                     2.75                                     20101001                        9.25                         2.5                                  2          First Lien                                         Y
           16166788                     2.25                                     20110401                          11                         2.5                                  2          First Lien                                         Y
           16166791                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166795                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166796                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166748                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166762                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166772                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166776                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166781                     2.25                                     20101101                          11                           2                                  2          First Lien                                         Y
           16166782                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166787                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166737                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166621                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16166639                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166641                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166645                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166660                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166664                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166666                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166669                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166670                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166672                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166679                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166682                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166683                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166686                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         N
           16166689                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166695                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166698                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166702                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166711                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16166716                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166725                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166729                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16166616                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166593                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16166595                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166610                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166613                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166614                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166577                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166579                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166580                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         N
           16166454                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166458                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166459                     2.25                                     20110401                          10                           2                                  2          First Lien                                         N
           16166460                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166467                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         N
           16166469                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166470                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16166474                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166477                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166488                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16166494                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166515                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166518                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166519                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166521                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166522                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166523                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166524                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166526                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166533                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166539                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166540                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166544                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166545                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166550                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166560                     2.75                                     20110401                      10.875                           2                                  2          First Lien                                         N
           16166417                     2.25                                     20110401                      10.375                         2.5                                  2          First Lien                                         Y
           16166419                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166421                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166425                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166426                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16166428                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166435                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166436                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         N
           16166443                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16166449                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166319                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166321                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166323                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166327                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16166328                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166336                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16166340                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166344                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166349                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166353                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         Y
           16166359                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166364                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166377                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166378                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166379                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166380                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166389                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166390                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166395                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         Y
           16166407                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166411                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166289                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         N
           16166296                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16166310                     2.25                                     20110301                       10.25                           2                                  2          First Lien                                         Y
           16166313                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166315                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         N
           16166318                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166098                     2.25                                     20110301                      11.375                           2                                  2          First Lien                                         Y
           16166102                     2.25                                     20110301                        10.5                           2                                  2          First Lien                                         N
           16166104                     2.25                                     20110301                      11.375                           2                                  2          First Lien                                         Y
           16166106                     2.25                                     20110301                          11                           2                                  2          First Lien                                         Y
           16166107                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166108                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         Y
           16166110                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         Y
           16166113                     2.25                                     20110301                       10.75                           2                                  2          First Lien                                         Y
           16166115                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         Y
           16166116                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         Y
           16166121                     2.25                                     20110301                       10.75                           2                                  2          First Lien                                         Y
           16166122                     2.25                                     20110301                      11.625                           2                                  2          First Lien                                         Y
           16166125                     2.25                                     20110301                      10.125                           2                                  2          First Lien                                         Y
           16166127                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         Y
           16166128                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166135                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166136                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166138                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166142                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166143                     2.25                                     20110301                        11.5                           2                                  2          First Lien                                         Y
           16166145                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         N
           16166147                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         Y
           16166148                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166151                     2.25                                     20110301                      11.125                           2                                  2          First Lien                                         Y
           16166152                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166155                     2.25                                     20110301                      11.875                           2                                  2          First Lien                                         Y
           16166159                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166160                     2.25                                     20110401                        10.5                           2                                  2          First Lien                                         N
           16166161                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166163                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166164                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166167                     2.25                                     20110301                          11                           2                                  2          First Lien                                         Y
           16166168                     2.25                                     20110301                      11.375                           2                                  2          First Lien                                         Y
           16166170                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166175                     2.25                                     20110301                      11.125                           2                                  2          First Lien                                         Y
           16166176                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166178                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166189                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         Y
           16166194                     2.25                                     20110301                      11.125                           2                                  2          First Lien                                         Y
           16166197                     2.25                                     20110301                       11.25                           2                                  2          First Lien                                         N
           16166200                     2.25                                     20110401                      11.625                           2                                  2          First Lien                                         N
           16166201                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166202                     2.25                                     20110301                        10.5                           2                                  2          First Lien                                         Y
           16166203                     2.25                                     20110401                      11.375                           2                                  2          First Lien                                         N
           16166204                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166207                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166213                     2.25                                     20110301                      11.625                           2                                  2          First Lien                                         Y
           16166217                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166218                     2.25                                     20110301                       10.75                           2                                  2          First Lien                                         Y
           16166220                     2.25                                     20110401                          11                           2                                  2          First Lien                                         N
           16166223                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         N
           16166225                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166232                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166234                     2.25                                     20110401                      10.875                           2                                  2          First Lien                                         Y
           16166235                     2.25                                     20110301                        10.5                           2                                  2          First Lien                                         N
           16166237                     2.25                                     20110401                      11.875                           2                                  2          First Lien                                         Y
           16166238                     2.25                                     20110401                      10.625                           2                                  2          First Lien                                         N
           16166245                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166247                     2.25                                     20110401                       11.75                           2                                  2          First Lien                                         Y
           16166249                     2.25                                     20110301                      10.875                           2                                  2          First Lien                                         Y
           16166255                     2.25                                     20110401                        11.5                           2                                  2          First Lien                                         Y
           16166267                     2.25                                     20110401                      11.125                           2                                  2          First Lien                                         Y
           16166069                     2.25                                     20110401                       10.75                           2                                  2          First Lien                                         Y
           16166074                     2.25                                     20110401                          11                           2                                  2          First Lien                                         Y
           16166083                     2.25                                     20110401                       11.25                           2                                  2          First Lien                                         Y
           16166092                     2.25                                     20110301                          12                           2                                  2          First Lien                                         Y
               2026

           LOAN_SEQ                     IO_PERIOD        PREPAY                                    AMORT_TERM1    PORTFOLIO
---------------------------------------------------------------------------------------------------------------------------
           16046700                          36          No_PP                                         360          ADN1
           16046701                          60          No_PP                                         360          ADN1
           16046702                          60          No_PP                                         360          ADN1
           16046703                           0          No_PP                                         360          ADN1
           16046704                          60          No_PP                                         360          ADN1
           16046705                          36          No_PP                                         360          ADN1
           16046706                          60          No_PP                                         360          ADN1
           16046707                         120          No_PP                                         360          ADN1
           16046708                          60          No_PP                                         360          ADN1
           16046709                          60          No_PP                                         360          ADN1
           16046710                          60          No_PP                                         360          ADN1
           16046712                          60          No_PP                                         360          ADN1
           16046713                         120          No_PP                                         360          ADN1
           16046714                          60          No_PP                                         360          ADN1
           16046715                         120          No_PP                                         360          ADN1
           16046482                          60          No_PP                                         360          ADN1
           16046498                         120          No_PP                                         360          ADN1
           16046505                         120          No_PP                                         360          ADN1
           16046511                          60          No_PP                                         360          ADN1
           16046514                           0          No_PP                                         360          ADN1
           16046521                         120          No_PP                                         360          ADN1
           16046541                         120          No_PP                                         360          ADN1
           16046546                          60          No_PP                                         360          ADN1
           16046550                         120          No_PP                                         360          ADN1
           16046562                          60          No_PP                                         360          ADN1
           16046570                          60          No_PP                                         360          ADN1
           16046579                          36          No_PP                                         360          ADN1
           16046587                         120          No_PP                                         360          ADN1
           16046597                           0          No_PP                                         360          ADN1
           16046606                          60          No_PP                                         360          ADN1
           16046615                          60          No_PP                                         360          ADN1
           16046618                          36          No_PP                                         360          ADN1
           16046644                          60          No_PP                                         360          ADN1
           16046645                           0          No_PP                                         360          ADN1
           16046646                          36          No_PP                                         360          ADN1
           16046648                          60          No_PP                                         360          ADN1
           16046649                          60          No_PP                                         360          ADN1
           16046651                          36          No_PP                                         360          ADN1
           16046655                          60          No_PP                                         360          ADN1
           16046663                          84          No_PP                                         360          ADN1
           16046673                          36          No_PP                                         360          ADN1
           16046675                         120          No_PP                                         360          ADN1
           16046682                          60          No_PP                                         360          ADN1
           16046693                         120          No_PP                                         360          ADN1
           16046698                          60          No_PP                                         360          ADN1
           16046711                          60          No_PP                                         360          ADN1
           16046720                          60          No_PP                                         360          ADN1
           16046729                          60          No_PP                                         360          ADN1
           16046730                         120          No_PP                                         360          ADN1
           16046738                          60          No_PP                                         360          ADN1
           16046747                         120          No_PP                                         360          ADN1
           16046763                         120          No_PP                                         360          ADN1
           16046766                          60          No_PP                                         360          ADN1
           16046767                         120          No_PP                                         360          ADN1
           16046768                           0          No_PP                                         360          ADN1
           16046770                           0          No_PP                                         360          ADN1
           16046771                          36          No_PP                                         360          ADN1
           16046773                          36          No_PP                                         360          ADN1
           16046779                          60          No_PP                                         360          ADN1
           16046782                         120          No_PP                                         360          ADN1
           16046807                          60          No_PP                                         360          ADN1
           16046815                         120          No_PP                                         360          ADN1
           16046821                          84          No_PP                                         360          ADN1
           16046826                         120          No_PP                                         360          ADN1
           16046739                          60          No_PP                                         360          ADN1
           16046740                         120          No_PP                                         360          ADN1
           16046741                         120          No_PP                                         360          ADN1
           16046742                          60          No_PP                                         360          ADN1
           16046743                          84          No_PP                                         360          ADN1
           16046744                           0          No_PP                                         360          ADN1
           16046746                          60          No_PP                                         360          ADN1
           16046748                           0          No_PP                                         360          ADN1
           16046750                          60          No_PP                                         360          ADN1
           16046751                          60          No_PP                                         360          ADN1
           16046752                          84          No_PP                                         360          ADN1
           16046753                         120          No_PP                                         360          ADN1
           16046754                         120          No_PP                                         360          ADN1
           16046755                         120          No_PP                                         360          ADN1
           16046756                           0          No_PP                                         360          ADN1
           16046759                           0          No_PP                                         360          ADN1
           16046760                           0          No_PP                                         360          ADN1
           16046761                          60          No_PP                                         360          ADN1
           16046762                          60          No_PP                                         360          ADN1
           16046764                           0          No_PP                                         360          ADN1
           16046765                          60          No_PP                                         360          ADN1
           16046769                           0          No_PP                                         360          ADN1
           16046772                          60          No_PP                                         360          ADN1
           16046774                         120          No_PP                                         360          ADN1
           16046775                          60          No_PP                                         360          ADN1
           16046776                          36          No_PP                                         360          ADN1
           16046777                         120          No_PP                                         360          ADN1
           16046778                         120          No_PP                                         360          ADN1
           16046780                          36          No_PP                                         360          ADN1
           16046781                           0          No_PP                                         360          ADN1
           16046784                          36          No_PP                                         360          ADN1
           16046785                         120          No_PP                                         360          ADN1
           16046786                          36          No_PP                                         360          ADN1
           16046787                          36          No_PP                                         360          ADN1
           16046788                          60          No_PP                                         360          ADN1
           16046789                          36          No_PP                                         360          ADN1
           16046790                           0          No_PP                                         360          ADN1
           16046791                         120          No_PP                                         360          ADN1
           16046792                         120          No_PP                                         360          ADN1
           16046793                         120          No_PP                                         360          ADN1
           16046794                         120          No_PP                                         360          ADN1
           16046796                         120          No_PP                                         360          ADN1
           16046797                          60          No_PP                                         360          ADN1
           16046798                         120          No_PP                                         360          ADN1
           16046799                          84          No_PP                                         360          ADN1
           16046800                          84          No_PP                                         360          ADN1
           16046801                           0          No_PP                                         360          ADN1
           16046802                          60          No_PP                                         360          ADN1
           16046803                           0          No_PP                                         360          ADN1
           16046804                          60          No_PP                                         360          ADN1
           16046805                          60          No_PP                                         360          ADN1
           16046806                          60          No_PP                                         360          ADN1
           16046808                           0          No_PP                                         360          ADN1
           16046809                         120          No_PP                                         360          ADN1
           16046810                         120          No_PP                                         360          ADN1
           16046811                          60          No_PP                                         360          ADN1
           16046812                          60          No_PP                                         360          ADN1
           16046813                          60          No_PP                                         360          ADN1
           16046814                         120          No_PP                                         360          ADN1
           16046817                         120          No_PP                                         360          ADN1
           16046818                         120          No_PP                                         360          ADN1
           16046819                           0          No_PP                                         360          ADN1
           16046820                          60          No_PP                                         360          ADN1
           16046822                          60          No_PP                                         360          ADN1
           16046823                          60          No_PP                                         360          ADN1
           16046824                           0          No_PP                                         360          ADN1
           16046825                           0          No_PP                                         360          ADN1
           16046827                          60          No_PP                                         360          ADN1
           16046716                           0          No_PP                                         360          ADN1
           16046718                          36          No_PP                                         360          ADN1
           16046719                          84          No_PP                                         360          ADN1
           16046721                          60          No_PP                                         360          ADN1
           16046722                           0          No_PP                                         360          ADN1
           16046723                         120          No_PP                                         360          ADN1
           16046724                          36          No_PP                                         360          ADN1
           16046725                          60          No_PP                                         360          ADN1
           16046726                           0          No_PP                                         360          ADN1
           16046727                         120          No_PP                                         360          ADN1
           16046728                          60          No_PP                                         360          ADN1
           16046731                           0          No_PP                                         360          ADN1
           16046732                           0          No_PP                                         360          ADN1
           16046733                         120          No_PP                                         360          ADN1
           16046734                          60          No_PP                                         360          ADN1
           16046736                         120          No_PP                                         360          ADN1
           16046737                          60          No_PP                                         360          ADN1
           16046465                         120          No_PP                                         360          ADN1
           16046466                          60          No_PP                                         360          ADN1
           16046467                          60          No_PP                                         360          ADN1
           16046468                         120          No_PP                                         360          ADN1
           16046469                          60          No_PP                                         360          ADN1
           16046470                           0          No_PP                                         360          ADN1
           16046471                          60          No_PP                                         360          ADN1
           16046472                          36          No_PP                                         360          ADN1
           16046473                          36          No_PP                                         360          ADN1
           16046474                          60          No_PP                                         360          ADN1
           16046475                           0          No_PP                                         360          ADN1
           16046476                          60          No_PP                                         360          ADN1
           16046477                         120          No_PP                                         360          ADN1
           16046478                          60          No_PP                                         360          ADN1
           16046479                         120          No_PP                                         360          ADN1
           16046480                          60          No_PP                                         360          ADN1
           16046481                          60          No_PP                                         360          ADN1
           16046483                          60          No_PP                                         360          ADN1
           16046485                          60          No_PP                                         360          ADN1
           16046486                           0          No_PP                                         360          ADN1
           16046487                          84          No_PP                                         360          ADN1
           16046488                         120          No_PP                                         360          ADN1
           16046489                         120          No_PP                                         360          ADN1
           16046491                          60          No_PP                                         360          ADN1
           16046492                           0          No_PP                                         360          ADN1
           16046493                         120          No_PP                                         360          ADN1
           16046494                         120          No_PP                                         360          ADN1
           16046496                          60          No_PP                                         360          ADN1
           16046497                          60          No_PP                                         360          ADN1
           16046499                          84          No_PP                                         360          ADN1
           16046500                           0          No_PP                                         360          ADN1
           16046501                         120          No_PP                                         360          ADN1
           16046502                           0          No_PP                                         360          ADN1
           16046503                          60          No_PP                                         360          ADN1
           16046506                         120          No_PP                                         360          ADN1
           16046507                           0          No_PP                                         360          ADN1
           16046508                          60          No_PP                                         360          ADN1
           16046509                           0          No_PP                                         360          ADN1
           16046510                          36          No_PP                                         360          ADN1
           16046512                         120          No_PP                                         360          ADN1
           16046513                           0          No_PP                                         360          ADN1
           16046515                          60          No_PP                                         360          ADN1
           16046516                          36          No_PP                                         360          ADN1
           16046517                          60          No_PP                                         360          ADN1
           16046518                          60          No_PP                                         360          ADN1
           16046519                         120          No_PP                                         360          ADN1
           16046520                           0          No_PP                                         360          ADN1
           16046522                         120          No_PP                                         360          ADN1
           16046524                          60          No_PP                                         360          ADN1
           16046643                          36          No_PP                                         360          ADN1
           16046647                         120          No_PP                                         360          ADN1
           16046650                          36          No_PP                                         360          ADN1
           16046652                         120          No_PP                                         360          ADN1
           16046653                           0          No_PP                                         360          ADN1
           16046654                          60          No_PP                                         360          ADN1
           16046656                         120          No_PP                                         360          ADN1
           16046657                           0          No_PP                                         360          ADN1
           16046658                          60          No_PP                                         360          ADN1
           16046659                           0          No_PP                                         360          ADN1
           16046660                          60          No_PP                                         360          ADN1
           16046661                          60          No_PP                                         360          ADN1
           16046662                          60          No_PP                                         360          ADN1
           16046664                           0          No_PP                                         360          ADN1
           16046665                           0          No_PP                                         360          ADN1
           16046666                          60          No_PP                                         360          ADN1
           16046667                          60          No_PP                                         360          ADN1
           16046669                           0          No_PP                                         360          ADN1
           16046670                          60          No_PP                                         360          ADN1
           16046671                         120          No_PP                                         360          ADN1
           16046672                         120          No_PP                                         360          ADN1
           16046674                         120          No_PP                                         360          ADN1
           16046676                          60          No_PP                                         360          ADN1
           16046678                          60          No_PP                                         360          ADN1
           16046679                           0          No_PP                                         360          ADN1
           16046680                          60          No_PP                                         360          ADN1
           16046683                           0          No_PP                                         360          ADN1
           16046684                         120          No_PP                                         360          ADN1
           16046685                          60          No_PP                                         360          ADN1
           16046686                         120          No_PP                                         360          ADN1
           16046687                           0          No_PP                                         360          ADN1
           16046688                         120          No_PP                                         360          ADN1
           16046689                         120          No_PP                                         360          ADN1
           16046690                          60          No_PP                                         360          ADN1
           16046691                           0          No_PP                                         360          ADN1
           16046692                           0          No_PP                                         360          ADN1
           16046694                          36          No_PP                                         360          ADN1
           16046695                          60          No_PP                                         360          ADN1
           16046697                         120          No_PP                                         360          ADN1
           16046699                          60          No_PP                                         360          ADN1
           16046598                         120          No_PP                                         360          ADN1
           16046600                          60          No_PP                                         360          ADN1
           16046601                          60          No_PP                                         360          ADN1
           16046602                          60          No_PP                                         360          ADN1
           16046603                           0          No_PP                                         360          ADN1
           16046604                         120          No_PP                                         360          ADN1
           16046605                         120          No_PP                                         360          ADN1
           16046607                          60          No_PP                                         360          ADN1
           16046608                          60          No_PP                                         360          ADN1
           16046609                          60          No_PP                                         360          ADN1
           16046610                         120          No_PP                                         360          ADN1
           16046612                          36          No_PP                                         360          ADN1
           16046613                           0          No_PP                                         360          ADN1
           16046614                           0          No_PP                                         360          ADN1
           16046616                         120          No_PP                                         360          ADN1
           16046617                         120          No_PP                                         360          ADN1
           16046619                          36          No_PP                                         360          ADN1
           16046620                          60          No_PP                                         360          ADN1
           16046621                          60          No_PP                                         360          ADN1
           16046622                          60          No_PP                                         360          ADN1
           16046623                           0          No_PP                                         360          ADN1
           16046624                           0          No_PP                                         360          ADN1
           16046625                         120          No_PP                                         360          ADN1
           16046626                          36          No_PP                                         360          ADN1
           16046627                           0          No_PP                                         360          ADN1
           16046628                          60          No_PP                                         360          ADN1
           16046629                          60          No_PP                                         360          ADN1
           16046630                          60          No_PP                                         360          ADN1
           16046631                           0          No_PP                                         360          ADN1
           16046632                           0          No_PP                                         360          ADN1
           16046634                          60          No_PP                                         360          ADN1
           16046635                           0          No_PP                                         360          ADN1
           16046637                         120          No_PP                                         360          ADN1
           16046638                           0          No_PP                                         360          ADN1
           16046639                          60          No_PP                                         360          ADN1
           16046640                         120          No_PP                                         360          ADN1
           16046641                           0          No_PP                                         360          ADN1
           16046642                          60          No_PP                                         360          ADN1
           16046525                           0          No_PP                                         360          ADN1
           16046526                           0          No_PP                                         360          ADN1
           16046527                           0          No_PP                                         360          ADN1
           16046528                           0          No_PP                                         360          ADN1
           16046529                          36          No_PP                                         360          ADN1
           16046530                          60          No_PP                                         360          ADN1
           16046531                           0          No_PP                                         360          ADN1
           16046532                           0          No_PP                                         360          ADN1
           16046533                           0          No_PP                                         360          ADN1
           16046534                          36          No_PP                                         360          ADN1
           16046535                           0          No_PP                                         360          ADN1
           16046536                         120          No_PP                                         360          ADN1
           16046537                           0          No_PP                                         360          ADN1
           16046538                          36          No_PP                                         360          ADN1
           16046540                         120          No_PP                                         360          ADN1
           16046542                          60          No_PP                                         360          ADN1
           16046543                         120          No_PP                                         360          ADN1
           16046544                           0          No_PP                                         360          ADN1
           16046545                         120          No_PP                                         360          ADN1
           16046547                         120          No_PP                                         360          ADN1
           16046548                           0          No_PP                                         360          ADN1
           16046549                          60          No_PP                                         360          ADN1
           16046551                         120          No_PP                                         360          ADN1
           16046553                          60          No_PP                                         360          ADN1
           16046555                           0          No_PP                                         360          ADN1
           16046557                          60          No_PP                                         360          ADN1
           16046558                          60          No_PP                                         360          ADN1
           16046559                          60          No_PP                                         360          ADN1
           16046560                           0          No_PP                                         360          ADN1
           16046561                          36          No_PP                                         360          ADN1
           16046563                         120          No_PP                                         360          ADN1
           16046564                          60          No_PP                                         360          ADN1
           16046565                          60          No_PP                                         360          ADN1
           16046566                          60          No_PP                                         360          ADN1
           16046567                         120          No_PP                                         360          ADN1
           16046568                          60          No_PP                                         360          ADN1
           16046572                           0          No_PP                                         360          ADN1
           16046573                          36          No_PP                                         360          ADN1
           16046574                         120          No_PP                                         360          ADN1
           16046575                          84          No_PP                                         360          ADN1
           16046576                           0          No_PP                                         360          ADN1
           16046578                          36          No_PP                                         360          ADN1
           16046580                          60          No_PP                                         360          ADN1
           16046581                          60          No_PP                                         360          ADN1
           16046582                          60          No_PP                                         360          ADN1
           16046583                          60          No_PP                                         360          ADN1
           16046584                          84          No_PP                                         360          ADN1
           16046585                         120          No_PP                                         360          ADN1
           16046588                           0          No_PP                                         360          ADN1
           16046591                          60          No_PP                                         360          ADN1
           16046592                         120          No_PP                                         360          ADN1
           16046593                           0          No_PP                                         360          ADN1
           16046594                          60          No_PP                                         360          ADN1
           16046595                         120          No_PP                                         360          ADN1
           16046596                          60          No_PP                                         360          ADN1
           16127503                           0          No_PP                                         360          ADN1
           16127504                           0          No_PP                                         360          ADN1
           16127506                           0          No_PP                                         360          ADN1
           16127507                           0          No_PP                                         360          ADN1
           16127508                           0          No_PP                                         360          ADN1
           16127509                           0          No_PP                                         360          ADN1
           16127510                           0          No_PP                                         360          ADN1
           16127511                          84          No_PP                                         360          ADN1
           16127512                           0          No_PP                                         360          ADN1
           16127513                           0          No_PP                                         360          ADN1
           16127514                          60          No_PP                                         360          ADN1
           16127515                           0          No_PP                                         360          ADN1
           16127516                           0          No_PP                                         360          ADN1
           16127517                           0          No_PP                                         360          ADN1
           16127518                           0          No_PP                                         360          ADN1
           16127519                           0          No_PP                                         360          ADN1
           16127520                          60          No_PP                                         360          ADN1
           16127521                          60          No_PP                                         360          ADN1
           16127522                          60          No_PP                                         360          ADN1
           16127523                           0          No_PP                                         360          ADN1
           16127524                           0          No_PP                                         360          ADN1
           16127525                           0          No_PP                                         360          ADN1
           16127526                           0          No_PP                                         360          ADN1
           16127527                          60          No_PP                                         360          ADN1
           16127528                           0          No_PP                                         360          ADN1
           16127529                          60          No_PP                                         360          ADN1
           16127530                           0          No_PP                                         360          ADN1
           16127532                          60          No_PP                                         360          ADN1
           16127533                           0          No_PP                                         360          ADN1
           16127534                           0          No_PP                                         360          ADN1
           16127547                           0          No_PP                                         360          ADN1
           16127548                           0          No_PP                                         360          ADN1
           16127550                           0          No_PP                                         360          ADN1
           16127551                           0          No_PP                                         360          ADN1
           16127552                           0          No_PP                                         360          ADN1
           16127553                           0          No_PP                                         360          ADN1
           16127554                           0          No_PP                                         360          ADN1
           16127555                          60          No_PP                                         360          ADN1
           16127556                           0          No_PP                                         360          ADN1
           16127557                           0          No_PP                                         360          ADN1
           16127558                           0          No_PP                                         360          ADN1
           16127559                           0          No_PP                                         360          ADN1
           16127560                           0          No_PP                                         360          ADN1
           16127561                           0          No_PP                                         360          ADN1
           16127562                           0          No_PP                                         360          ADN1
           16127563                           0          No_PP                                         360          ADN1
           16127565                           0          No_PP                                         360          ADN1
           16127566                           0          No_PP                                         360          ADN1
           16127567                          84          No_PP                                         360          ADN1
           16127568                           0          No_PP                                         360          ADN1
           16127569                           0          No_PP                                         360          ADN1
           16127570                           0          No_PP                                         360          ADN1
           16127571                           0          No_PP                                         360          ADN1
           16127572                           0          No_PP                                         360          ADN1
           16127573                           0          No_PP                                         360          ADN1
           16127574                           0          No_PP                                         360          ADN1
           16127575                           0          No_PP                                         360          ADN1
           16127576                           0          No_PP                                         360          ADN1
           16127577                          60          No_PP                                         360          ADN1
           16127578                         120          No_PP                                         360          ADN1
           16127541                           0          No_PP                                         360          ADN1
           16127542                          60          No_PP                                         360          ADN1
           16127543                          84          No_PP                                         360          ADN1
           16127544                           0          No_PP                                         360          ADN1
           16127545                           0          No_PP                                         360          ADN1
           16127546                           0          No_PP                                         360          ADN1
           16127535                           0          No_PP                                         360          ADN1
           16127536                         120          No_PP                                         360          ADN1
           16127537                           0          No_PP                                         360          ADN1
           16127538                           0          No_PP                                         360          ADN1
           16127539                           0          No_PP                                         360          ADN1
           16127540                           0          No_PP                                         360          ADN1
           16127499                           0          No_PP                                         360          ADN1
           16127500                           0          No_PP                                         120          ADN1
           16127501                           0          No_PP                                         360          ADN1
           16127502                           0          No_PP                                         360          ADN1
           16048088                          36          No_PP                                         360          ADN1
           16047971                           0          No_PP                                         360          ADN1
           16047977                           0          No_PP                                         360          ADN1
           16047989                          36          No_PP                                         360          ADN1
           16047990                           0          No_PP                                         360          ADN1
           16047991                          36          No_PP                                         360          ADN1
           16047992                           0          No_PP                                         360          ADN1
           16047994                          36          Prepay                                        360          ADN1
           16048002                          36          No_PP                                         360          ADN1
           16048004                          36          No_PP                                         360          ADN1
           16048006                          36          No_PP                                         360          ADN1
           16048008                          36          No_PP                                         360          ADN1
           16048012                           0          No_PP                                         360          ADN1
           16048014                          36          No_PP                                         360          ADN1
           16048015                          36          No_PP                                         360          ADN1
           16048018                          36          No_PP                                         360          ADN1
           16048019                          36          No_PP                                         360          ADN1
           16048020                           0          No_PP                                         360          ADN1
           16048021                          36          No_PP                                         360          ADN1
           16048024                          36          No_PP                                         360          ADN1
           16048033                          36          No_PP                                         360          ADN1
           16048037                          36          Prepay                                        360          ADN1
           16048045                          36          No_PP                                         360          ADN1
           16048046                          36          No_PP                                         360          ADN1
           16048048                          36          No_PP                                         360          ADN1
           16048049                           0          No_PP                                         360          ADN1
           16048050                          36          No_PP                                         360          ADN1
           16048068                          36          No_PP                                         360          ADN1
           16048082                          36          No_PP                                         360          ADN1
           16047965                          60          Prepay                                        360          ADN1
           16047967                           0          No_PP                                         360          ADN1
           16047968                          60          No_PP                                         360          ADN1
           16047970                          60          No_PP                                         360          ADN1
           16047972                          60          No_PP                                         360          ADN1
           16047973                          60          Prepay                                        360          ADN1
           16047976                          60          No_PP                                         360          ADN1
           16047978                           0          No_PP                                         360          ADN1
           16047980                          60          Prepay                                        360          ADN1
           16047983                          60          No_PP                                         360          ADN1
           16047984                          60          Prepay                                        360          ADN1
           16047985                          60          No_PP                                         360          ADN1
           16047987                          60          No_PP                                         360          ADN1
           16047988                          60          No_PP                                         360          ADN1
           16047993                          60          No_PP                                         360          ADN1
           16047995                          60          No_PP                                         360          ADN1
           16047996                           0          No_PP                                         360          ADN1
           16047997                          60          No_PP                                         360          ADN1
           16047998                           0          No_PP                                         360          ADN1
           16047999                          60          No_PP                                         360          ADN1
           16048000                          60          No_PP                                         360          ADN1
           16048001                          60          No_PP                                         360          ADN1
           16048003                          60          No_PP                                         360          ADN1
           16048005                          60          No_PP                                         360          ADN1
           16048007                          60          No_PP                                         360          ADN1
           16048009                          60          No_PP                                         360          ADN1
           16048010                          60          Prepay                                        360          ADN1
           16048011                          60          No_PP                                         360          ADN1
           16048013                          60          No_PP                                         360          ADN1
           16048016                          60          No_PP                                         360          ADN1
           16048017                          60          Prepay                                        360          ADN1
           16048022                          60          No_PP                                         360          ADN1
           16048023                           0          No_PP                                         360          ADN1
           16048025                          60          No_PP                                         360          ADN1
           16048027                          60          No_PP                                         360          ADN1
           16048028                           0          No_PP                                         360          ADN1
           16048029                          60          No_PP                                         360          ADN1
           16048030                           0          No_PP                                         360          ADN1
           16048031                          60          Prepay                                        360          ADN1
           16048032                          60          Prepay                                        360          ADN1
           16048034                          60          No_PP                                         360          ADN1
           16048035                           0          No_PP                                         360          ADN1
           16048036                          60          No_PP                                         360          ADN1
           16048039                          60          No_PP                                         360          ADN1
           16048040                          60          No_PP                                         360          ADN1
           16048041                          60          No_PP                                         360          ADN1
           16048042                          60          Prepay                                        360          ADN1
           16048043                           0          No_PP                                         360          ADN1
           16048044                           0          No_PP                                         360          ADN1
           16048047                          60          No_PP                                         360          ADN1
           16048051                          60          No_PP                                         360          ADN1
           16048052                          60          No_PP                                         360          ADN1
           16048053                          60          No_PP                                         360          ADN1
           16048054                          60          No_PP                                         360          ADN1
           16048055                          60          Prepay                                        360          ADN1
           16048057                          60          No_PP                                         360          ADN1
           16048058                          60          No_PP                                         360          ADN1
           16048059                          60          No_PP                                         360          ADN1
           16048060                          60          No_PP                                         360          ADN1
           16048061                          60          No_PP                                         360          ADN1
           16048063                          60          No_PP                                         360          ADN1
           16048064                           0          No_PP                                         360          ADN1
           16048066                          60          No_PP                                         360          ADN1
           16048067                          60          No_PP                                         360          ADN1
           16048070                          60          No_PP                                         360          ADN1
           16048071                          60          No_PP                                         360          ADN1
           16048072                          60          Prepay                                        360          ADN1
           16048073                          60          No_PP                                         360          ADN1
           16048074                          60          No_PP                                         360          ADN1
           16048075                          60          No_PP                                         360          ADN1
           16048076                          60          No_PP                                         360          ADN1
           16048077                          60          No_PP                                         360          ADN1
           16048078                          60          No_PP                                         360          ADN1
           16048079                          60          No_PP                                         360          ADN1
           16048080                          60          No_PP                                         360          ADN1
           16048081                          60          No_PP                                         360          ADN1
           16048083                          60          Prepay                                        360          ADN1
           16048084                           0          No_PP                                         360          ADN1
           16048086                           0          Prepay                                        360          ADN1
           16048087                          60          No_PP                                         360          ADN1
           16166797                          36          No_PP                                         360          ADN1
           16166649                           0          No_PP                                         360          ADN1
           16166730                          36          No_PP                                         360          ADN1
           16166615                          36          Prepay                                        360          ADN1
           16166582                          36          Prepay                                        360          ADN1
           16166471                          36          No_PP                                         360          ADN1
           16166475                          36          No_PP                                         360          ADN1
           16166437                          36          Prepay                                        360          ADN1
           16166450                          36          Prepay                                        360          ADN1
           16166320                          36          No_PP                                         360          ADN1
           16166337                          36          Prepay                                        360          ADN1
           16166347                           0          No_PP                                         360          ADN1
           16166275                          36          Prepay                                        360          ADN1
           16166095                          36          No_PP                                         360          ADN1
           16166097                          36          No_PP                                         360          ADN1
           16166101                           0          No_PP                                         360          ADN1
           16166119                           0          No_PP                                         360          ADN1
           16166120                          36          No_PP                                         360          ADN1
           16166134                          36          No_PP                                         360          ADN1
           16166140                          36          No_PP                                         360          ADN1
           16166146                          36          No_PP                                         360          ADN1
           16166150                          36          No_PP                                         360          ADN1
           16166158                           0          No_PP                                         360          ADN1
           16166162                           0          No_PP                                         360          ADN1
           16166165                          36          No_PP                                         360          ADN1
           16166190                           0          No_PP                                         360          ADN1
           16166191                          36          No_PP                                         360          ADN1
           16166192                           0          No_PP                                         360          ADN1
           16166250                          36          No_PP                                         360          ADN1
           16166072                          36          Prepay                                        360          ADN1
           16166081                           0          Prepay                                        360          ADN1
           16166088                          36          No_PP                                         360          ADN1
           16166094                           0          No_PP                                         360          ADN1
           16166794                          60          No_PP                                         360          ADN1
           16166798                          60          No_PP                                         360          ADN1
           16166747                          60          No_PP                                         360          ADN1
           16166751                          60          No_PP                                         360          ADN1
           16166754                          60          Prepay                                        360          ADN1
           16166759                           0          No_PP                                         360          ADN1
           16166763                          60          No_PP                                         360          ADN1
           16166766                          60          No_PP                                         360          ADN1
           16166768                          60          No_PP                                         360          ADN1
           16166769                          60          Prepay                                        360          ADN1
           16166771                          60          No_PP                                         360          ADN1
           16166734                          60          Prepay                                        360          ADN1
           16166735                          60          No_PP                                         360          ADN1
           16166736                          60          No_PP                                         360          ADN1
           16166738                          60          No_PP                                         360          ADN1
           16166631                           0          Prepay                                        360          ADN1
           16166632                          60          No_PP                                         360          ADN1
           16166635                          60          No_PP                                         360          ADN1
           16166642                          60          No_PP                                         360          ADN1
           16166644                          60          No_PP                                         360          ADN1
           16166653                           0          No_PP                                         360          ADN1
           16166657                          60          Prepay                                        360          ADN1
           16166662                           0          No_PP                                         360          ADN1
           16166665                          60          No_PP                                         360          ADN1
           16166667                          60          No_PP                                         360          ADN1
           16166680                           0          No_PP                                         360          ADN1
           16166693                          60          Prepay                                        360          ADN1
           16166694                          60          No_PP                                         360          ADN1
           16166696                          60          No_PP                                         360          ADN1
           16166701                          60          No_PP                                         360          ADN1
           16166703                          60          No_PP                                         360          ADN1
           16166705                          60          No_PP                                         360          ADN1
           16166713                          60          No_PP                                         360          ADN1
           16166715                          60          No_PP                                         360          ADN1
           16166719                          60          No_PP                                         360          ADN1
           16166722                           0          Prepay                                        360          ADN1
           16166584                           0          No_PP                                         360          ADN1
           16166587                          60          No_PP                                         360          ADN1
           16166589                          60          No_PP                                         360          ADN1
           16166590                          60          No_PP                                         360          ADN1
           16166596                          60          No_PP                                         360          ADN1
           16166598                          60          No_PP                                         360          ADN1
           16166602                         120          No_PP                                         360          ADN1
           16166604                          60          No_PP                                         360          ADN1
           16166605                          60          No_PP                                         360          ADN1
           16166606                          60          No_PP                                         360          ADN1
           16166609                          60          Prepay                                        360          ADN1
           16166611                          60          No_PP                                         360          ADN1
           16166574                         120          No_PP                                         360          ADN1
           16166578                          60          No_PP                                         360          ADN1
           16166456                          60          No_PP                                         360          ADN1
           16166472                          60          No_PP                                         360          ADN1
           16166473                          60          No_PP                                         360          ADN1
           16166476                          60          No_PP                                         360          ADN1
           16166479                          60          No_PP                                         360          ADN1
           16166481                          60          No_PP                                         360          ADN1
           16166482                          60          No_PP                                         360          ADN1
           16166483                          60          Prepay                                        360          ADN1
           16166493                          60          Prepay                                        360          ADN1
           16166497                         120          No_PP                                         360          ADN1
           16166498                          60          No_PP                                         360          ADN1
           16166500                           0          No_PP                                         360          ADN1
           16166501                          60          No_PP                                         360          ADN1
           16166504                          60          No_PP                                         360          ADN1
           16166505                         120          No_PP                                         360          ADN1
           16166510                          60          No_PP                                         360          ADN1
           16166527                          60          No_PP                                         360          ADN1
           16166528                          60          No_PP                                         360          ADN1
           16166531                         120          No_PP                                         360          ADN1
           16166534                          60          Prepay                                        360          ADN1
           16166535                          60          No_PP                                         360          ADN1
           16166536                          60          No_PP                                         360          ADN1
           16166542                          60          No_PP                                         360          ADN1
           16166554                          60          No_PP                                         360          ADN1
           16166555                          60          No_PP                                         360          ADN1
           16166556                          60          No_PP                                         360          ADN1
           16166563                         120          Prepay                                        360          ADN1
           16166570                           0          No_PP                                         360          ADN1
           16166413                          60          No_PP                                         360          ADN1
           16166414                          60          No_PP                                         360          ADN1
           16166415                          60          No_PP                                         360          ADN1
           16166416                          60          No_PP                                         360          ADN1
           16166423                          60          Prepay                                        360          ADN1
           16166424                          60          No_PP                                         360          ADN1
           16166438                          60          Prepay                                        360          ADN1
           16166440                           0          No_PP                                         360          ADN1
           16166329                          60          No_PP                                         360          ADN1
           16166345                          60          No_PP                                         360          ADN1
           16166350                          60          No_PP                                         360          ADN1
           16166354                          60          No_PP                                         360          ADN1
           16166355                          60          Prepay                                        360          ADN1
           16166356                           0          No_PP                                         360          ADN1
           16166362                           0          Prepay                                        360          ADN1
           16166363                          60          No_PP                                         360          ADN1
           16166369                          60          Prepay                                        360          ADN1
           16166370                          60          No_PP                                         360          ADN1
           16166371                          60          No_PP                                         360          ADN1
           16166373                          60          No_PP                                         360          ADN1
           16166376                          60          No_PP                                         360          ADN1
           16166401                          60          No_PP                                         360          ADN1
           16166402                          60          No_PP                                         360          ADN1
           16166405                           0          No_PP                                         360          ADN1
           16166408                          60          No_PP                                         360          ADN1
           16166409                           0          Prepay                                        360          ADN1
           16166410                          60          No_PP                                         360          ADN1
           16166412                          60          Prepay                                        360          ADN1
           16166284                           0          Prepay                                        360          ADN1
           16166287                          60          No_PP                                         360          ADN1
           16166292                          60          No_PP                                         360          ADN1
           16166293                           0          No_PP                                         360          ADN1
           16166294                          60          No_PP                                         360          ADN1
           16166300                          60          Prepay                                        360          ADN1
           16166302                          60          Prepay                                        360          ADN1
           16166316                          60          Prepay                                        360          ADN1
           16166096                          60          No_PP                                         360          ADN1
           16166099                          60          No_PP                                         360          ADN1
           16166103                          60          No_PP                                         360          ADN1
           16166105                          60          No_PP                                         360          ADN1
           16166111                          60          No_PP                                         360          ADN1
           16166114                          60          Prepay                                        360          ADN1
           16166117                          60          No_PP                                         360          ADN1
           16166131                          60          No_PP                                         360          ADN1
           16166132                           0          No_PP                                         360          ADN1
           16166133                          60          No_PP                                         360          ADN1
           16166139                          60          No_PP                                         360          ADN1
           16166144                          60          No_PP                                         360          ADN1
           16166171                          60          No_PP                                         360          ADN1
           16166172                          60          Prepay                                        360          ADN1
           16166173                          60          No_PP                                         360          ADN1
           16166174                          60          No_PP                                         360          ADN1
           16166181                          60          No_PP                                         360          ADN1
           16166184                           0          No_PP                                         360          ADN1
           16166186                           0          No_PP                                         360          ADN1
           16166195                          60          No_PP                                         360          ADN1
           16166196                          60          No_PP                                         360          ADN1
           16166205                          60          No_PP                                         360          ADN1
           16166210                          60          No_PP                                         360          ADN1
           16166211                          60          No_PP                                         360          ADN1
           16166212                          60          No_PP                                         360          ADN1
           16166214                          60          No_PP                                         360          ADN1
           16166215                          60          No_PP                                         360          ADN1
           16166219                          60          No_PP                                         360          ADN1
           16166222                          60          No_PP                                         360          ADN1
           16166229                          60          No_PP                                         360          ADN1
           16166230                          60          No_PP                                         360          ADN1
           16166239                           0          No_PP                                         360          ADN1
           16166243                          60          No_PP                                         360          ADN1
           16166244                          60          No_PP                                         360          ADN1
           16166258                          60          Prepay                                        360          ADN1
           16166261                          60          No_PP                                         360          ADN1
           16166262                           0          No_PP                                         360          ADN1
           16166264                          60          No_PP                                         360          ADN1
           16166265                           0          No_PP                                         360          ADN1
           16166070                          60          No_PP                                         360          ADN1
           16166071                           0          No_PP                                         360          ADN1
           16166073                          60          No_PP                                         360          ADN1
           16166077                          60          No_PP                                         360          ADN1
           16166079                          60          No_PP                                         360          ADN1
           16166085                          60          Prepay                                        360          ADN1
           16166087                          60          Prepay                                        360          ADN1
           16166093                          60          No_PP                                         360          ADN1
           16184179                          84          No_PP                                         360          ADN1
           16184180                          84          No_PP                                         360          ADN1
           16184181                          84          No_PP                                         360          ADN1
           16184183                          84          No_PP                                         360          ADN1
           16184184                          84          No_PP                                         360          ADN1
           16184185                          84          No_PP                                         360          ADN1
           16184186                           0          No_PP                                         360          ADN1
           16184187                          84          No_PP                                         360          ADN1
           16184188                          84          No_PP                                         360          ADN1
           16184189                           0          No_PP                                         360          ADN1
           16184191                         120          Prepay                                        360          ADN1
           16184193                          84          Prepay                                        360          ADN1
           16184195                          84          No_PP                                         360          ADN1
           16184196                          84          No_PP                                         360          ADN1
           16184198                          84          No_PP                                         360          ADN1
           16184199                          84          No_PP                                         360          ADN1
           16184200                          84          No_PP                                         360          ADN1
           16184202                          84          No_PP                                         360          ADN1
           16184203                          84          No_PP                                         360          ADN1
           16184204                          84          No_PP                                         360          ADN1
           16184205                          84          No_PP                                         360          ADN1
           16184209                           0          Prepay                                        360          ADN1
           16184212                          84          No_PP                                         360          ADN1
           16184214                           0          No_PP                                         360          ADN1
           16184217                           0          No_PP                                         360          ADN1
           16184218                          84          No_PP                                         360          ADN1
           16184219                          84          No_PP                                         360          ADN1
           16184220                          84          Prepay                                        360          ADN1
           16184221                          84          No_PP                                         360          ADN1
           16184223                          84          Prepay                                        360          ADN1
           16184224                          84          Prepay                                        360          ADN1
           16184225                          84          No_PP                                         360          ADN1
           16184226                          84          No_PP                                         360          ADN1
           16184227                          84          No_PP                                         360          ADN1
           16184228                           0          No_PP                                         360          ADN1
           16184229                          84          No_PP                                         360          ADN1
           16184230                           0          Prepay                                        360          ADN1
           16184232                          84          No_PP                                         360          ADN1
           16184234                          84          No_PP                                         360          ADN1
           16184236                          84          No_PP                                         360          ADN1
           16184239                          84          No_PP                                         360          ADN1
           16184241                          84          Prepay                                        360          ADN1
           16184245                          84          No_PP                                         360          ADN1
           16184257                          84          No_PP                                         360          ADN1
           16184259                         120          No_PP                                         360          ADN1
           16184262                           0          No_PP                                         360          ADN1
           16184265                          84          Prepay                                        360          ADN1
           16184266                          84          No_PP                                         360          ADN1
           16184268                         120          No_PP                                         360          ADN1
           16184176                           0          No_PP                                         360          ADN1
           16184177                           0          No_PP                                         360          ADN1
           16166799                          84          No_PP                                         360          ADN1
           16166800                          84          No_PP                                         360          ADN1
           16166802                          84          No_PP                                         360          ADN1
           16166756                          84          Prepay                                        360          ADN1
           16166760                          84          Prepay                                        360          ADN1
           16166764                          84          No_PP                                         360          ADN1
           16166785                           0          No_PP                                         360          ADN1
           16166739                           0          No_PP                                         360          ADN1
           16166620                          84          Prepay                                        360          ADN1
           16166624                          84          Prepay                                        360          ADN1
           16166626                          84          No_PP                                         360          ADN1
           16166646                           0          No_PP                                         360          ADN1
           16166673                           0          No_PP                                         360          ADN1
           16166674                          84          No_PP                                         360          ADN1
           16166675                          84          No_PP                                         360          ADN1
           16166687                          84          No_PP                                         360          ADN1
           16166731                          84          No_PP                                         360          ADN1
           16166594                          84          No_PP                                         360          ADN1
           16166599                          84          No_PP                                         360          ADN1
           16166600                          84          Prepay                                        360          ADN1
           16166573                         120          No_PP                                         360          ADN1
           16166581                           0          Prepay                                        360          ADN1
           16166453                           0          Prepay                                        360          ADN1
           16166465                           0          Prepay                                        360          ADN1
           16166466                          84          No_PP                                         360          ADN1
           16166468                          84          No_PP                                         360          ADN1
           16166484                          84          Prepay                                        360          ADN1
           16166485                           0          No_PP                                         360          ADN1
           16166487                          84          Prepay                                        360          ADN1
           16166489                          84          Prepay                                        360          ADN1
           16166490                          84          Prepay                                        360          ADN1
           16166496                          84          Prepay                                        360          ADN1
           16166506                         120          No_PP                                         360          ADN1
           16166507                         120          No_PP                                         360          ADN1
           16166512                          84          Prepay                                        360          ADN1
           16166517                          84          No_PP                                         360          ADN1
           16166529                          84          No_PP                                         360          ADN1
           16166537                           0          No_PP                                         360          ADN1
           16166558                         120          No_PP                                         360          ADN1
           16166559                         120          Prepay                                        360          ADN1
           16166564                           0          No_PP                                         360          ADN1
           16166420                          84          No_PP                                         360          ADN1
           16166427                         120          No_PP                                         360          ADN1
           16166429                          84          No_PP                                         360          ADN1
           16166432                          84          No_PP                                         360          ADN1
           16166434                          84          Prepay                                        360          ADN1
           16166446                          84          No_PP                                         360          ADN1
           16166448                           0          No_PP                                         360          ADN1
           16166452                          84          No_PP                                         360          ADN1
           16166324                          84          No_PP                                         360          ADN1
           16166330                          84          No_PP                                         360          ADN1
           16166332                          84          Prepay                                        360          ADN1
           16166333                          84          No_PP                                         360          ADN1
           16166342                          84          Prepay                                        360          ADN1
           16166346                          84          Prepay                                        360          ADN1
           16166348                          84          No_PP                                         360          ADN1
           16166351                          84          No_PP                                         360          ADN1
           16166352                           0          No_PP                                         360          ADN1
           16166358                          84          No_PP                                         360          ADN1
           16166360                          84          No_PP                                         360          ADN1
           16166368                          84          Prepay                                        360          ADN1
           16166374                           0          Prepay                                        360          ADN1
           16166375                          84          Prepay                                        360          ADN1
           16166381                          84          Prepay                                        360          ADN1
           16166383                          84          No_PP                                         360          ADN1
           16166391                          84          No_PP                                         360          ADN1
           16166393                         120          No_PP                                         360          ADN1
           16166399                          84          No_PP                                         360          ADN1
           16166271                         120          No_PP                                         360          ADN1
           16166272                          84          No_PP                                         360          ADN1
           16166274                          84          No_PP                                         360          ADN1
           16166278                          84          Prepay                                        360          ADN1
           16166281                           0          No_PP                                         360          ADN1
           16166288                          84          No_PP                                         360          ADN1
           16166304                          84          No_PP                                         360          ADN1
           16166305                          84          No_PP                                         360          ADN1
           16166306                          84          Prepay                                        360          ADN1
           16166308                           0          No_PP                                         360          ADN1
           16166311                          84          No_PP                                         360          ADN1
           16166317                         120          Prepay                                        360          ADN1
           16166100                          84          No_PP                                         360          ADN1
           16166109                          84          No_PP                                         360          ADN1
           16166118                          84          No_PP                                         360          ADN1
           16166123                          84          No_PP                                         360          ADN1
           16166126                          84          No_PP                                         360          ADN1
           16166129                          84          No_PP                                         360          ADN1
           16166137                          84          No_PP                                         360          ADN1
           16166141                          84          No_PP                                         360          ADN1
           16166157                          84          No_PP                                         360          ADN1
           16166166                          84          Prepay                                        360          ADN1
           16166177                          84          No_PP                                         360          ADN1
           16166180                          84          No_PP                                         360          ADN1
           16166182                          84          No_PP                                         360          ADN1
           16166185                          84          No_PP                                         360          ADN1
           16166187                          84          No_PP                                         360          ADN1
           16166193                           0          No_PP                                         360          ADN1
           16166198                          84          No_PP                                         360          ADN1
           16166199                          84          No_PP                                         360          ADN1
           16166221                          84          No_PP                                         360          ADN1
           16166224                          84          No_PP                                         360          ADN1
           16166227                          84          No_PP                                         360          ADN1
           16166233                          84          No_PP                                         360          ADN1
           16166236                           0          No_PP                                         360          ADN1
           16166251                          84          No_PP                                         360          ADN1
           16166254                          84          No_PP                                         360          ADN1
           16166263                          84          No_PP                                         360          ADN1
           16166266                          84          No_PP                                         360          ADN1
           16166078                          84          No_PP                                         360          ADN1
           16166082                          84          No_PP                                         360          ADN1
           16166089                          84          Prepay                                        360          ADN1
           16177241                          60          No_PP                                         360          ADN1
           16177242                          60          No_PP                                         360          ADN1
           16177243                          60          No_PP                                         360          ADN1
           16177244                          60          Prepay                                        360          ADN1
           16177245                           0          No_PP                                         360          ADN1
           16177220                           0          No_PP                                         360          ADN1
           16177221                          60          Prepay                                        360          ADN1
           16177222                         120          Prepay                                        360          ADN1
           16177223                          60          No_PP                                         360          ADN1
           16177224                          60          No_PP                                         360          ADN1
           16177225                          60          No_PP                                         360          ADN1
           16177226                          60          No_PP                                         360          ADN1
           16177227                          60          No_PP                                         360          ADN1
           16177228                          60          No_PP                                         360          ADN1
           16177229                          60          No_PP                                         360          ADN1
           16177230                          60          Prepay                                        360          ADN1
           16177231                          60          Prepay                                        360          ADN1
           16177232                          60          Prepay                                        360          ADN1
           16177233                          60          No_PP                                         360          ADN1
           16177234                          60          Prepay                                        360          ADN1
           16177235                         120          Prepay                                        360          ADN1
           16177236                         120          Prepay                                        360          ADN1
           16177237                          60          No_PP                                         360          ADN1
           16177238                          60          No_PP                                         360          ADN1
           16177239                           0          No_PP                                         360          ADN1
           16177240                          60          No_PP                                         360          ADN1
           16177210                          60          No_PP                                         360          ADN1
           16177211                          60          No_PP                                         360          ADN1
           16177212                          60          No_PP                                         360          ADN1
           16177213                           0          No_PP                                         360          ADN1
           16177214                          60          Prepay                                        360          ADN1
           16177215                          60          No_PP                                         360          ADN1
           16177216                          60          No_PP                                         360          ADN1
           16177217                           0          No_PP                                         360          ADN1
           16177218                          60          No_PP                                         360          ADN1
           16177219                          60          No_PP                                         360          ADN1
           16177170                          60          No_PP                                         360          ADN1
           16177171                          60          No_PP                                         360          ADN1
           16177172                          60          No_PP                                         360          ADN1
           16177173                          60          No_PP                                         360          ADN1
           16177174                          60          No_PP                                         360          ADN1
           16177175                           0          No_PP                                         360          ADN1
           16177176                          60          Prepay                                        360          ADN1
           16177177                          60          Prepay                                        360          ADN1
           16177178                           0          No_PP                                         360          ADN1
           16177179                          60          No_PP                                         360          ADN1
           16177180                          60          Prepay                                        360          ADN1
           16177181                         120          Prepay                                        360          ADN1
           16177182                           0          No_PP                                         360          ADN1
           16177183                          60          Prepay                                        360          ADN1
           16177184                           0          Prepay                                        360          ADN1
           16177185                           0          Prepay                                        360          ADN1
           16177186                          60          No_PP                                         360          ADN1
           16177187                         120          No_PP                                         360          ADN1
           16177188                         120          Prepay                                        360          ADN1
           16177189                         120          No_PP                                         360          ADN1
           16177190                          60          Prepay                                        360          ADN1
           16177191                          60          No_PP                                         360          ADN1
           16177192                          60          No_PP                                         360          ADN1
           16177193                          60          No_PP                                         360          ADN1
           16177194                          60          Prepay                                        360          ADN1
           16177195                          60          No_PP                                         360          ADN1
           16177196                           0          Prepay                                        360          ADN1
           16177197                          60          No_PP                                         360          ADN1
           16177198                          60          No_PP                                         360          ADN1
           16177199                          60          No_PP                                         360          ADN1
           16177165                          60          Prepay                                        360          ADN1
           16177166                          60          No_PP                                         360          ADN1
           16177167                          60          No_PP                                         360          ADN1
           16177168                          60          No_PP                                         360          ADN1
           16177169                          60          No_PP                                         360          ADN1
           16177113                          60          No_PP                                         360          ADN1
           16177114                          60          No_PP                                         360          ADN1
           16177115                          60          No_PP                                         360          ADN1
           16177116                           0          No_PP                                         360          ADN1
           16177117                          60          No_PP                                         360          ADN1
           16177118                          60          No_PP                                         360          ADN1
           16177119                          60          No_PP                                         360          ADN1
           16177120                          60          No_PP                                         360          ADN1
           16177121                          60          No_PP                                         360          ADN1
           16177122                          60          No_PP                                         360          ADN1
           16177123                          60          No_PP                                         360          ADN1
           16177124                          60          No_PP                                         360          ADN1
           16177125                          60          No_PP                                         360          ADN1
           16177126                          60          No_PP                                         360          ADN1
           16177127                          60          No_PP                                         360          ADN1
           16177128                          60          No_PP                                         360          ADN1
           16177129                          60          No_PP                                         360          ADN1
           16177130                          60          No_PP                                         360          ADN1
           16177131                          60          No_PP                                         360          ADN1
           16177132                          60          No_PP                                         360          ADN1
           16177133                          60          No_PP                                         360          ADN1
           16177134                           0          No_PP                                         360          ADN1
           16177135                          60          No_PP                                         360          ADN1
           16177136                          60          No_PP                                         360          ADN1
           16177137                          60          Prepay                                        360          ADN1
           16177138                          60          No_PP                                         360          ADN1
           16177139                          60          No_PP                                         360          ADN1
           16177140                          60          No_PP                                         360          ADN1
           16177141                           0          No_PP                                         360          ADN1
           16177142                          60          No_PP                                         360          ADN1
           16177143                           0          No_PP                                         360          ADN1
           16177144                          60          No_PP                                         360          ADN1
           16177145                          60          No_PP                                         360          ADN1
           16177146                          60          Prepay                                        360          ADN1
           16177147                          60          No_PP                                         360          ADN1
           16177148                           0          No_PP                                         360          ADN1
           16177110                          60          No_PP                                         360          ADN1
           16177111                          60          Prepay                                        360          ADN1
           16177112                          60          No_PP                                         360          ADN1
           16177149                          60          No_PP                                         360          ADN1
           16177150                           0          No_PP                                         360          ADN1
           16177152                          60          Prepay                                        360          ADN1
           16177153                           0          Prepay                                        360          ADN1
           16177154                          60          No_PP                                         360          ADN1
           16177155                           0          No_PP                                         360          ADN1
           16177157                          60          No_PP                                         360          ADN1
           16177158                          60          Prepay                                        360          ADN1
           16177159                          60          No_PP                                         360          ADN1
           16177160                          60          Prepay                                        360          ADN1
           16177161                          60          Prepay                                        360          ADN1
           16177162                           0          No_PP                                         360          ADN1
           16177163                          60          Prepay                                        360          ADN1
           16177164                          60          No_PP                                         360          ADN1
           16177100                          60          No_PP                                         360          ADN1
           16177101                          60          No_PP                                         360          ADN1
           16177102                          60          No_PP                                         360          ADN1
           16177103                          60          No_PP                                         360          ADN1
           16177104                          60          No_PP                                         360          ADN1
           16177105                           0          No_PP                                         360          ADN1
           16177106                           0          No_PP                                         360          ADN1
           16177107                           0          No_PP                                         360          ADN1
           16177108                          60          No_PP                                         360          ADN1
           16177109                          60          No_PP                                         360          ADN1
           16177200                          60          No_PP                                         360          ADN1
           16177201                          60          Prepay                                        360          ADN1
           16177202                          60          No_PP                                         360          ADN1
           16177203                          60          No_PP                                         360          ADN1
           16177204                          60          No_PP                                         360          ADN1
           16177205                          60          No_PP                                         360          ADN1
           16177206                           0          No_PP                                         360          ADN1
           16177207                          60          No_PP                                         360          ADN1
           16177208                          60          No_PP                                         360          ADN1
           16177209                          60          No_PP                                         360          ADN1
           16177090                          60          No_PP                                         360          ADN1
           16177091                          60          No_PP                                         360          ADN1
           16177092                          60          Prepay                                        360          ADN1
           16177093                          60          Prepay                                        360          ADN1
           16177094                          60          Prepay                                        360          ADN1
           16177095                          60          No_PP                                         360          ADN1
           16177096                          60          No_PP                                         360          ADN1
           16177097                          60          No_PP                                         360          ADN1
           16177098                          60          No_PP                                         360          ADN1
           16177099                           0          No_PP                                         360          ADN1
           16218249                           0          No_PP                                         360          ADN1
           16218250                          60          Prepay                                        360          ADN1
           16218251                          60          No_PP                                         360          ADN1
           16218252                          60          Prepay                                        360          ADN1
           16218244                          60          No_PP                                         360          ADN1
           16218245                          60          No_PP                                         360          ADN1
           16218246                          60          Prepay                                        360          ADN1
           16218247                          60          No_PP                                         360          ADN1
           16218248                           0          Prepay                                        360          ADN1
           16218236                          60          No_PP                                         360          ADN1
           16218237                          60          No_PP                                         360          ADN1
           16218238                          60          Prepay                                        360          ADN1
           16218239                           0          Prepay                                        360          ADN1
           16218240                          60          No_PP                                         360          ADN1
           16218241                          60          No_PP                                         360          ADN1
           16218242                          60          Prepay                                        360          ADN1
           16218243                          60          No_PP                                         360          ADN1
           16218230                          60          Prepay                                        360          ADN1
           16218231                          60          No_PP                                         360          ADN1
           16218232                          60          No_PP                                         360          ADN1
           16218233                           0          No_PP                                         360          ADN1
           16218234                          60          Prepay                                        360          ADN1
           16218235                          60          Prepay                                        360          ADN1
           16218227                          60          No_PP                                         360          ADN1
           16218228                          60          Prepay                                        360          ADN1
           16218229                          60          No_PP                                         360          ADN1
           16218226                          60          Prepay                                        360          ADN1
           16218150                          60          Prepay                                        360          ADN1
           16218151                          60          Prepay                                        360          ADN1
           16218152                          60          Prepay                                        360          ADN1
           16218153                          60          No_PP                                         360          ADN1
           16218154                          60          Prepay                                        360          ADN1
           16218155                          60          Prepay                                        360          ADN1
           16218156                          60          Prepay                                        360          ADN1
           16218157                          60          No_PP                                         360          ADN1
           16218158                         120          No_PP                                         360          ADN1
           16218159                          60          No_PP                                         360          ADN1
           16218160                          60          No_PP                                         360          ADN1
           16218161                          60          Prepay                                        360          ADN1
           16218162                          60          Prepay                                        360          ADN1
           16218163                         120          No_PP                                         360          ADN1
           16218164                          60          No_PP                                         360          ADN1
           16218165                          60          Prepay                                        360          ADN1
           16218166                          60          No_PP                                         360          ADN1
           16218167                          60          No_PP                                         360          ADN1
           16218168                          60          No_PP                                         360          ADN1
           16218169                          60          No_PP                                         360          ADN1
           16218126                         120          No_PP                                         360          ADN1
           16218170                          60          Prepay                                        360          ADN1
           16218171                          60          No_PP                                         360          ADN1
           16218172                          60          No_PP                                         360          ADN1
           16218173                          60          No_PP                                         360          ADN1
           16218174                          60          No_PP                                         360          ADN1
           16218175                          60          No_PP                                         360          ADN1
           16218176                           0          No_PP                                         360          ADN1
           16218177                          60          Prepay                                        360          ADN1
           16218178                          60          Prepay                                        360          ADN1
           16218179                          60          Prepay                                        360          ADN1
           16218180                          60          Prepay                                        360          ADN1
           16218127                          60          No_PP                                         360          ADN1
           16218128                          60          No_PP                                         360          ADN1
           16218129                          60          No_PP                                         360          ADN1
           16218181                           0          No_PP                                         360          ADN1
           16218182                          60          No_PP                                         360          ADN1
           16218183                          60          Prepay                                        360          ADN1
           16218184                         120          No_PP                                         360          ADN1
           16218185                           0          No_PP                                         360          ADN1
           16218130                         120          No_PP                                         360          ADN1
           16218131                          60          No_PP                                         360          ADN1
           16218132                          60          No_PP                                         360          ADN1
           16218186                           0          Prepay                                        360          ADN1
           16218187                          60          Prepay                                        360          ADN1
           16218188                         120          Prepay                                        360          ADN1
           16218189                          60          No_PP                                         360          ADN1
           16218190                          60          No_PP                                         360          ADN1
           16218191                          60          Prepay                                        360          ADN1
           16218192                          60          Prepay                                        360          ADN1
           16218193                          60          No_PP                                         360          ADN1
           16218194                          60          No_PP                                         360          ADN1
           16218195                          60          No_PP                                         360          ADN1
           16218196                           0          No_PP                                         360          ADN1
           16218197                          60          Prepay                                        360          ADN1
           16218198                          60          No_PP                                         360          ADN1
           16218199                          60          No_PP                                         360          ADN1
           16218133                          60          No_PP                                         360          ADN1
           16218134                          60          No_PP                                         360          ADN1
           16218135                           0          No_PP                                         360          ADN1
           16218136                          60          No_PP                                         360          ADN1
           16218137                          60          No_PP                                         360          ADN1
           16218138                          60          No_PP                                         360          ADN1
           16218139                          60          No_PP                                         360          ADN1
           16218140                          60          No_PP                                         360          ADN1
           16218141                           0          No_PP                                         360          ADN1
           16218142                          60          No_PP                                         360          ADN1
           16218143                          60          No_PP                                         360          ADN1
           16218144                          60          No_PP                                         360          ADN1
           16218145                          60          No_PP                                         360          ADN1
           16218146                           0          Prepay                                        360          ADN1
           16218147                           0          Prepay                                        360          ADN1
           16218148                           0          No_PP                                         360          ADN1
           16218149                          60          Prepay                                        360          ADN1
           16218100                          60          No_PP                                         360          ADN1
           16218101                          60          No_PP                                         360          ADN1
           16218102                          60          No_PP                                         360          ADN1
           16218103                          60          No_PP                                         360          ADN1
           16218104                          60          No_PP                                         360          ADN1
           16218105                          60          No_PP                                         360          ADN1
           16218106                          60          No_PP                                         360          ADN1
           16218113                           0          No_PP                                         360          ADN1
           16218114                          60          No_PP                                         360          ADN1
           16218115                          60          No_PP                                         360          ADN1
           16218116                          60          No_PP                                         360          ADN1
           16218117                          60          No_PP                                         360          ADN1
           16218118                          60          No_PP                                         360          ADN1
           16218119                          60          No_PP                                         360          ADN1
           16218107                           0          No_PP                                         360          ADN1
           16218108                          60          No_PP                                         360          ADN1
           16218109                          60          No_PP                                         360          ADN1
           16218120                           0          No_PP                                         360          ADN1
           16218121                          60          No_PP                                         360          ADN1
           16218122                           0          No_PP                                         360          ADN1
           16218123                          60          No_PP                                         360          ADN1
           16218124                          60          No_PP                                         360          ADN1
           16218125                          60          No_PP                                         360          ADN1
           16218110                          60          No_PP                                         360          ADN1
           16218111                          60          No_PP                                         360          ADN1
           16218112                          60          No_PP                                         360          ADN1
           16218083                          60          No_PP                                         360          ADN1
           16218084                          60          Prepay                                        360          ADN1
           16218085                          60          No_PP                                         360          ADN1
           16218086                          60          No_PP                                         360          ADN1
           16218087                          60          Prepay                                        360          ADN1
           16218088                          60          No_PP                                         360          ADN1
           16218089                          60          No_PP                                         360          ADN1
           16218090                           0          No_PP                                         360          ADN1
           16218091                           0          No_PP                                         360          ADN1
           16218092                          60          No_PP                                         360          ADN1
           16218093                           0          No_PP                                         360          ADN1
           16218094                          60          No_PP                                         360          ADN1
           16218095                          60          No_PP                                         360          ADN1
           16218096                          60          No_PP                                         360          ADN1
           16218097                          60          No_PP                                         360          ADN1
           16218098                          60          No_PP                                         360          ADN1
           16218099                          60          No_PP                                         360          ADN1
           16218300                          60          No_PP                                         360          ADN1
           16218301                          60          No_PP                                         360          ADN1
           16218302                          60          Prepay                                        360          ADN1
           16218303                          60          Prepay                                        360          ADN1
           16218304                          60          Prepay                                        360          ADN1
           16218305                          60          No_PP                                         360          ADN1
           16218306                          60          Prepay                                        360          ADN1
           16218307                           0          Prepay                                        360          ADN1
           16218308                          60          No_PP                                         360          ADN1
           16218309                          60          No_PP                                         360          ADN1
           16218310                          60          Prepay                                        360          ADN1
           16218311                          60          No_PP                                         360          ADN1
           16218312                          60          Prepay                                        360          ADN1
           16218313                          60          No_PP                                         360          ADN1
           16218314                          60          No_PP                                         360          ADN1
           16218315                           0          Prepay                                        360          ADN1
           16218316                          60          No_PP                                         360          ADN1
           16218317                          60          Prepay                                        360          ADN1
           16218318                          60          No_PP                                         360          ADN1
           16218319                          60          No_PP                                         360          ADN1
           16218320                          60          No_PP                                         360          ADN1
           16218321                          60          Prepay                                        360          ADN1
           16218322                          60          No_PP                                         360          ADN1
           16218323                          60          Prepay                                        360          ADN1
           16218324                          60          No_PP                                         360          ADN1
           16218325                          60          Prepay                                        360          ADN1
           16218326                          60          No_PP                                         360          ADN1
           16218327                          60          No_PP                                         360          ADN1
           16218328                          60          No_PP                                         360          ADN1
           16218329                          60          Prepay                                        360          ADN1
           16218330                          60          No_PP                                         360          ADN1
           16218331                          60          No_PP                                         360          ADN1
           16218332                          60          No_PP                                         360          ADN1
           16218220                           0          No_PP                                         360          ADN1
           16218221                          60          No_PP                                         360          ADN1
           16218222                          60          Prepay                                        360          ADN1
           16218223                           0          Prepay                                        360          ADN1
           16218224                          60          No_PP                                         360          ADN1
           16218225                          60          Prepay                                        360          ADN1
           16218200                          60          No_PP                                         360          ADN1
           16218201                           0          No_PP                                         360          ADN1
           16218202                          60          Prepay                                        360          ADN1
           16218203                          60          No_PP                                         360          ADN1
           16218204                          60          Prepay                                        360          ADN1
           16218205                          60          No_PP                                         360          ADN1
           16218206                           0          No_PP                                         360          ADN1
           16218207                          60          No_PP                                         360          ADN1
           16218208                          60          No_PP                                         360          ADN1
           16218209                          60          No_PP                                         360          ADN1
           16218210                          60          No_PP                                         360          ADN1
           16218211                          60          No_PP                                         360          ADN1
           16218212                          60          Prepay                                        360          ADN1
           16218213                          60          No_PP                                         360          ADN1
           16218214                          60          No_PP                                         360          ADN1
           16218215                          60          Prepay                                        360          ADN1
           16218216                          60          No_PP                                         360          ADN1
           16218217                          60          No_PP                                         360          ADN1
           16218218                          60          Prepay                                        360          ADN1
           16218256                          60          No_PP                                         360          ADN1
           16218257                          60          Prepay                                        360          ADN1
           16218258                          60          No_PP                                         360          ADN1
           16218259                          60          Prepay                                        360          ADN1
           16218260                           0          No_PP                                         360          ADN1
           16218261                          60          No_PP                                         360          ADN1
           16218262                          60          No_PP                                         360          ADN1
           16218263                          60          Prepay                                        360          ADN1
           16218264                          60          Prepay                                        360          ADN1
           16218265                          60          Prepay                                        360          ADN1
           16218266                          60          Prepay                                        360          ADN1
           16218267                          60          No_PP                                         360          ADN1
           16218268                           0          Prepay                                        360          ADN1
           16218269                         120          Prepay                                        360          ADN1
           16218253                          60          No_PP                                         360          ADN1
           16218270                          60          Prepay                                        360          ADN1
           16218271                          60          Prepay                                        360          ADN1
           16218272                          60          No_PP                                         360          ADN1
           16218273                           0          No_PP                                         360          ADN1
           16218274                          60          Prepay                                        360          ADN1
           16218275                          60          Prepay                                        360          ADN1
           16218276                          60          No_PP                                         360          ADN1
           16218277                          60          No_PP                                         360          ADN1
           16218278                          60          No_PP                                         360          ADN1
           16218279                         120          No_PP                                         360          ADN1
           16218280                           0          No_PP                                         360          ADN1
           16218281                          60          Prepay                                        360          ADN1
           16218282                          60          No_PP                                         360          ADN1
           16218283                           0          Prepay                                        360          ADN1
           16218284                          60          No_PP                                         360          ADN1
           16218285                          60          No_PP                                         360          ADN1
           16218286                          60          No_PP                                         360          ADN1
           16218287                          60          Prepay                                        360          ADN1
           16218288                         120          No_PP                                         360          ADN1
           16218289                           0          No_PP                                         360          ADN1
           16218290                          60          Prepay                                        360          ADN1
           16218291                          60          No_PP                                         360          ADN1
           16218292                          60          No_PP                                         360          ADN1
           16218293                          60          No_PP                                         360          ADN1
           16218294                          60          No_PP                                         360          ADN1
           16218295                         120          Prepay                                        360          ADN1
           16218296                          60          Prepay                                        360          ADN1
           16218297                          60          Prepay                                        360          ADN1
           16218298                          60          No_PP                                         360          ADN1
           16218299                          60          No_PP                                         360          ADN1
           16218254                          60          Prepay                                        360          ADN1
           16218255                           0          No_PP                                         360          ADN1
           16199805                           0          Prepay                                        360          ADN1
           16199806                           0          Prepay                                        360          ADN1
           16199807                         120          Prepay                                        360          ADN1
           16199808                           0          No_PP                                         360          ADN1
           16199809                         120          Prepay                                        360          ADN1
           16199810                         120          Prepay                                        360          ADN1
           16199811                         120          Prepay                                        360          ADN1
           16199812                         120          No_PP                                         360          ADN1
           16199813                         120          Prepay                                        360          ADN1
           16199814                         120          Prepay                                        360          ADN1
           16199815                         120          No_PP                                         360          ADN1
           16199816                         120          No_PP                                         360          ADN1
           16199817                         120          Prepay                                        360          ADN1
           16199818                           0          Prepay                                        360          ADN1
           16199819                         120          No_PP                                         360          ADN1
           16199820                         120          No_PP                                         360          ADN1
           16199821                         120          No_PP                                         360          ADN1
           16199822                         120          Prepay                                        360          ADN1
           16199823                         120          Prepay                                        360          ADN1
           16199824                         120          No_PP                                         360          ADN1
           16199825                         120          Prepay                                        360          ADN1
           16199826                         120          No_PP                                         360          ADN1
           16199827                           0          Prepay                                        360          ADN1
           16199829                           0          No_PP                                         360          ADN1
           16199830                           0          Prepay                                        360          ADN1
           16199831                         120          No_PP                                         360          ADN1
           16199832                         120          Prepay                                        360          ADN1
           16199833                         120          Prepay                                        360          ADN1
           16199834                         120          Prepay                                        360          ADN1
           16199835                         120          Prepay                                        360          ADN1
           16199836                         120          Prepay                                        360          ADN1
           16199837                         120          No_PP                                         360          ADN1
           16199838                         120          No_PP                                         360          ADN1
           16199839                         120          No_PP                                         360          ADN1
           16199840                           0          Prepay                                        360          ADN1
           16199841                         120          No_PP                                         360          ADN1
           16199842                         120          Prepay                                        360          ADN1
           16199843                         120          Prepay                                        360          ADN1
           16199844                         120          Prepay                                        360          ADN1
           16199845                         120          Prepay                                        360          ADN1
           16199846                           0          Prepay                                        360          ADN1
           16199847                         120          Prepay                                        360          ADN1
           16199848                           0          Prepay                                        360          ADN1
           16199849                         120          No_PP                                         360          ADN1
           16199850                         120          Prepay                                        360          ADN1
           16199851                         120          Prepay                                        360          ADN1
           16199852                         120          No_PP                                         360          ADN1
           16199853                         120          No_PP                                         360          ADN1
           16199854                           0          No_PP                                         360          ADN1
           16199855                           0          No_PP                                         360          ADN1
           16199795                         120          No_PP                                         360          ADN1
           16199796                         120          Prepay                                        360          ADN1
           16199797                         120          Prepay                                        360          ADN1
           16199798                         120          No_PP                                         360          ADN1
           16199799                         120          Prepay                                        360          ADN1
           16199705                         120          No_PP                                         360          ADN1
           16199706                         120          No_PP                                         360          ADN1
           16199707                         120          No_PP                                         360          ADN1
           16199708                         120          No_PP                                         360          ADN1
           16199709                         120          No_PP                                         360          ADN1
           16199710                         120          Prepay                                        360          ADN1
           16199711                         120          No_PP                                         360          ADN1
           16199712                           0          Prepay                                        360          ADN1
           16199713                         120          Prepay                                        360          ADN1
           16199714                         120          Prepay                                        360          ADN1
           16199715                         120          No_PP                                         360          ADN1
           16199716                         120          Prepay                                        360          ADN1
           16199717                           0          No_PP                                         360          ADN1
           16199718                         120          Prepay                                        360          ADN1
           16199719                         120          Prepay                                        360          ADN1
           16199700                         120          No_PP                                         360          ADN1
           16199701                         120          No_PP                                         360          ADN1
           16199702                         120          Prepay                                        360          ADN1
           16199703                         120          No_PP                                         360          ADN1
           16199704                         120          No_PP                                         360          ADN1
           16199787                         120          No_PP                                         360          ADN1
           16199788                         120          Prepay                                        360          ADN1
           16199789                         120          No_PP                                         360          ADN1
           16199790                         120          Prepay                                        360          ADN1
           16199791                         120          No_PP                                         360          ADN1
           16199792                         120          Prepay                                        360          ADN1
           16199793                         120          Prepay                                        360          ADN1
           16199794                         120          Prepay                                        360          ADN1
           16199690                         120          No_PP                                         360          ADN1
           16199691                         120          No_PP                                         360          ADN1
           16199692                         120          No_PP                                         360          ADN1
           16199693                         120          Prepay                                        360          ADN1
           16199694                         120          No_PP                                         360          ADN1
           16199695                         120          No_PP                                         360          ADN1
           16199696                           0          No_PP                                         360          ADN1
           16199697                         120          Prepay                                        360          ADN1
           16199698                         120          No_PP                                         360          ADN1
           16199699                         120          Prepay                                        360          ADN1
           16199680                         120          Prepay                                        360          ADN1
           16199681                         120          No_PP                                         360          ADN1
           16199682                         120          No_PP                                         360          ADN1
           16199683                         120          Prepay                                        360          ADN1
           16199684                           0          No_PP                                         360          ADN1
           16199685                         120          No_PP                                         360          ADN1
           16199686                         120          No_PP                                         360          ADN1
           16199687                         120          No_PP                                         360          ADN1
           16199688                         120          No_PP                                         360          ADN1
           16199689                         120          No_PP                                         360          ADN1
           16199663                         120          No_PP                                         360          ADN1
           16199664                         120          No_PP                                         360          ADN1
           16199665                         120          No_PP                                         360          ADN1
           16199666                         120          No_PP                                         360          ADN1
           16199667                         120          No_PP                                         360          ADN1
           16199668                         120          Prepay                                        360          ADN1
           16199669                         120          No_PP                                         360          ADN1
           16199670                         120          No_PP                                         360          ADN1
           16199671                           0          No_PP                                         360          ADN1
           16199672                         120          No_PP                                         360          ADN1
           16199673                           0          No_PP                                         360          ADN1
           16199674                         120          Prepay                                        360          ADN1
           16199675                         120          No_PP                                         360          ADN1
           16199676                         120          No_PP                                         360          ADN1
           16199677                         120          No_PP                                         360          ADN1
           16199678                         120          Prepay                                        360          ADN1
           16199679                         120          Prepay                                        360          ADN1
           16199753                           0          Prepay                                        360          ADN1
           16199754                           0          Prepay                                        360          ADN1
           16199760                         120          Prepay                                        360          ADN1
           16199762                         120          Prepay                                        360          ADN1
           16199763                         120          Prepay                                        360          ADN1
           16199764                           0          No_PP                                         360          ADN1
           16199765                         120          No_PP                                         360          ADN1
           16199766                         120          Prepay                                        360          ADN1
           16199767                         120          Prepay                                        360          ADN1
           16199768                         120          No_PP                                         360          ADN1
           16199769                         120          No_PP                                         360          ADN1
           16199770                         120          Prepay                                        360          ADN1
           16199771                           0          Prepay                                        360          ADN1
           16199772                         120          Prepay                                        360          ADN1
           16199773                         120          No_PP                                         360          ADN1
           16199774                         120          No_PP                                         360          ADN1
           16199775                           0          No_PP                                         360          ADN1
           16199776                         120          Prepay                                        360          ADN1
           16199777                         120          No_PP                                         360          ADN1
           16199778                         120          Prepay                                        360          ADN1
           16199779                         120          No_PP                                         360          ADN1
           16199780                         120          No_PP                                         360          ADN1
           16199781                         120          Prepay                                        360          ADN1
           16199782                         120          No_PP                                         360          ADN1
           16199783                         120          No_PP                                         360          ADN1
           16199784                           0          Prepay                                        360          ADN1
           16199785                           0          No_PP                                         360          ADN1
           16199786                         120          Prepay                                        360          ADN1
           16199755                         120          No_PP                                         360          ADN1
           16199756                         120          Prepay                                        360          ADN1
           16199757                         120          Prepay                                        360          ADN1
           16199758                         120          No_PP                                         360          ADN1
           16199759                         120          No_PP                                         360          ADN1
           16199632                         120          No_PP                                         360          ADN1
           16199633                           0          No_PP                                         360          ADN1
           16199634                         120          No_PP                                         360          ADN1
           16199635                         120          No_PP                                         360          ADN1
           16199636                         120          Prepay                                        360          ADN1
           16199637                         120          No_PP                                         360          ADN1
           16199638                         120          No_PP                                         360          ADN1
           16199639                         120          No_PP                                         360          ADN1
           16199640                         120          No_PP                                         360          ADN1
           16199641                           0          Prepay                                        360          ADN1
           16199642                         120          No_PP                                         360          ADN1
           16199643                         120          Prepay                                        360          ADN1
           16199644                         120          Prepay                                        360          ADN1
           16199645                         120          Prepay                                        360          ADN1
           16199646                         120          Prepay                                        360          ADN1
           16199647                         120          No_PP                                         360          ADN1
           16199648                         120          No_PP                                         360          ADN1
           16199649                         120          No_PP                                         360          ADN1
           16199650                         120          Prepay                                        360          ADN1
           16199651                         120          No_PP                                         360          ADN1
           16199652                         120          No_PP                                         360          ADN1
           16199653                         120          No_PP                                         360          ADN1
           16199654                         120          No_PP                                         360          ADN1
           16199655                         120          No_PP                                         360          ADN1
           16199656                         120          Prepay                                        360          ADN1
           16199657                         120          No_PP                                         360          ADN1
           16199658                         120          No_PP                                         360          ADN1
           16199659                           0          No_PP                                         360          ADN1
           16199660                         120          No_PP                                         360          ADN1
           16199661                         120          No_PP                                         360          ADN1
           16199662                           0          No_PP                                         360          ADN1
           16199723                           0          No_PP                                         360          ADN1
           16199724                         120          No_PP                                         360          ADN1
           16199725                         120          No_PP                                         360          ADN1
           16199726                         120          Prepay                                        360          ADN1
           16199727                         120          Prepay                                        360          ADN1
           16199728                         120          Prepay                                        360          ADN1
           16199729                         120          Prepay                                        360          ADN1
           16199730                           0          Prepay                                        360          ADN1
           16199731                         120          Prepay                                        360          ADN1
           16199732                         120          No_PP                                         360          ADN1
           16199733                         120          No_PP                                         360          ADN1
           16199734                         120          Prepay                                        360          ADN1
           16199735                         120          Prepay                                        360          ADN1
           16199736                         120          Prepay                                        360          ADN1
           16199737                         120          Prepay                                        360          ADN1
           16199738                         120          Prepay                                        360          ADN1
           16199739                         120          Prepay                                        360          ADN1
           16199740                         120          No_PP                                         360          ADN1
           16199741                         120          Prepay                                        360          ADN1
           16199742                         120          Prepay                                        360          ADN1
           16199743                         120          Prepay                                        360          ADN1
           16199744                         120          Prepay                                        360          ADN1
           16199745                         120          Prepay                                        360          ADN1
           16199746                         120          No_PP                                         360          ADN1
           16199747                         120          Prepay                                        360          ADN1
           16199748                         120          No_PP                                         360          ADN1
           16199749                         120          Prepay                                        360          ADN1
           16199750                         120          Prepay                                        360          ADN1
           16199751                         120          Prepay                                        360          ADN1
           16199752                         120          Prepay                                        360          ADN1
           16199720                         120          Prepay                                        360          ADN1
           16199721                         120          Prepay                                        360          ADN1
           16199722                         120          No_PP                                         360          ADN1
           16232382                         120          Prepay                                        360          ADN1
           16199856                         120          Prepay                                        360          ADN1
           16199857                         120          Prepay                                        360          ADN1
           16199800                           0          Prepay                                        360          ADN1
           16199801                         120          Prepay                                        360          ADN1
           16199802                         120          Prepay                                        360          ADN1
           16199803                         120          Prepay                                        360          ADN1
           16199804                         120          Prepay                                        360          ADN1
           16218700                          84          No_PP                                         360          ADN1
           16218701                          84          Prepay                                        360          ADN1
           16218702                          84          No_PP                                         360          ADN1
           16218703                          84          No_PP                                         360          ADN1
           16218704                         120          No_PP                                         360          ADN1
           16218705                          84          No_PP                                         360          ADN1
           16218706                          84          Prepay                                        360          ADN1
           16218707                          84          No_PP                                         360          ADN1
           16218708                           0          Prepay                                        360          ADN1
           16218709                          84          No_PP                                         360          ADN1
           16218710                          84          No_PP                                         360          ADN1
           16218711                          84          No_PP                                         360          ADN1
           16218712                          84          No_PP                                         360          ADN1
           16218713                          84          No_PP                                         360          ADN1
           16218714                          84          No_PP                                         360          ADN1
           16218715                          84          No_PP                                         360          ADN1
           16218716                          84          No_PP                                         360          ADN1
           16218717                          84          Prepay                                        360          ADN1
           16218718                          84          No_PP                                         360          ADN1
           16218719                          84          No_PP                                         360          ADN1
           16218720                          84          Prepay                                        360          ADN1
           16218721                          84          No_PP                                         360          ADN1
           16218722                          84          No_PP                                         360          ADN1
           16218723                          84          No_PP                                         360          ADN1
           16218724                          84          No_PP                                         360          ADN1
           16218725                          84          No_PP                                         360          ADN1
           16218624                          84          No_PP                                         360          ADN1
           16218625                          84          No_PP                                         360          ADN1
           16218626                          84          No_PP                                         360          ADN1
           16218627                          84          No_PP                                         360          ADN1
           16218628                          84          No_PP                                         360          ADN1
           16218629                          84          No_PP                                         360          ADN1
           16218630                          84          No_PP                                         360          ADN1
           16218631                          84          No_PP                                         360          ADN1
           16218632                          84          Prepay                                        360          ADN1
           16218633                          84          No_PP                                         360          ADN1
           16218634                          84          No_PP                                         360          ADN1
           16218635                          84          No_PP                                         360          ADN1
           16218636                          84          No_PP                                         360          ADN1
           16218637                          84          No_PP                                         360          ADN1
           16218638                          84          No_PP                                         360          ADN1
           16218639                          84          Prepay                                        360          ADN1
           16218640                          84          Prepay                                        360          ADN1
           16218641                          84          No_PP                                         360          ADN1
           16218642                           0          Prepay                                        360          ADN1
           16218643                          84          No_PP                                         360          ADN1
           16218644                          84          Prepay                                        360          ADN1
           16218645                          84          No_PP                                         360          ADN1
           16218646                          84          No_PP                                         360          ADN1
           16218647                          84          No_PP                                         360          ADN1
           16218648                          84          Prepay                                        360          ADN1
           16218649                          84          Prepay                                        360          ADN1
           16218650                           0          No_PP                                         360          ADN1
           16218651                           0          No_PP                                         360          ADN1
           16218652                          84          No_PP                                         360          ADN1
           16218653                           0          No_PP                                         360          ADN1
           16218654                          84          No_PP                                         360          ADN1
           16218655                          84          No_PP                                         360          ADN1
           16218656                          84          Prepay                                        360          ADN1
           16218657                          84          No_PP                                         360          ADN1
           16218658                          84          Prepay                                        360          ADN1
           16218659                          84          Prepay                                        360          ADN1
           16218660                          84          No_PP                                         360          ADN1
           16218661                          84          Prepay                                        360          ADN1
           16218662                           0          Prepay                                        360          ADN1
           16218663                          84          Prepay                                        360          ADN1
           16218664                          84          No_PP                                         360          ADN1
           16218665                          84          No_PP                                         360          ADN1
           16218666                           0          No_PP                                         360          ADN1
           16218667                           0          No_PP                                         360          ADN1
           16218668                          84          No_PP                                         360          ADN1
           16218669                          84          Prepay                                        360          ADN1
           16218670                          84          No_PP                                         360          ADN1
           16218671                           0          No_PP                                         360          ADN1
           16218672                          84          No_PP                                         360          ADN1
           16218673                          84          No_PP                                         360          ADN1
           16218674                           0          Prepay                                        360          ADN1
           16218675                          84          No_PP                                         360          ADN1
           16218676                          84          No_PP                                         360          ADN1
           16218677                          84          No_PP                                         360          ADN1
           16218678                          84          No_PP                                         360          ADN1
           16218679                          84          No_PP                                         360          ADN1
           16218680                           0          No_PP                                         360          ADN1
           16218681                          84          No_PP                                         360          ADN1
           16218682                          84          No_PP                                         360          ADN1
           16218683                          84          Prepay                                        360          ADN1
           16218684                           0          Prepay                                        360          ADN1
           16218685                          84          No_PP                                         360          ADN1
           16218686                           0          No_PP                                         360          ADN1
           16218687                          84          No_PP                                         360          ADN1
           16218688                          84          No_PP                                         360          ADN1
           16218689                          84          No_PP                                         360          ADN1
           16218690                          84          No_PP                                         360          ADN1
           16218691                          84          No_PP                                         360          ADN1
           16218692                          84          No_PP                                         360          ADN1
           16218693                           0          No_PP                                         360          ADN1
           16218694                          84          Prepay                                        360          ADN1
           16218695                          84          No_PP                                         360          ADN1
           16218696                          84          Prepay                                        360          ADN1
           16218697                          84          No_PP                                         360          ADN1
           16218608                          84          No_PP                                         360          ADN1
           16218609                          84          No_PP                                         360          ADN1
           16218698                          84          No_PP                                         360          ADN1
           16218699                          84          No_PP                                         360          ADN1
           16223053                          84          No_PP                                         360          ADN1
           16223054                          84          No_PP                                         360          ADN1
           16223055                          84          No_PP                                         360          ADN1
           16223056                          84          No_PP                                         360          ADN1
           16223057                          84          No_PP                                         360          ADN1
           16223058                          84          No_PP                                         360          ADN1
           16223059                          84          No_PP                                         360          ADN1
           16218610                         120          No_PP                                         360          ADN1
           16218611                          84          No_PP                                         360          ADN1
           16218612                         120          No_PP                                         360          ADN1
           16218613                          84          No_PP                                         360          ADN1
           16218614                           0          Prepay                                        360          ADN1
           16218615                          84          No_PP                                         360          ADN1
           16218616                          84          No_PP                                         360          ADN1
           16218617                          84          No_PP                                         360          ADN1
           16218618                          84          Prepay                                        360          ADN1
           16218619                          84          Prepay                                        360          ADN1
           16218620                          84          No_PP                                         360          ADN1
           16218621                          84          No_PP                                         360          ADN1
           16218622                          84          No_PP                                         360          ADN1
           16218623                           0          No_PP                                         360          ADN1
           16218600                          84          No_PP                                         360          ADN1
           16218601                          84          No_PP                                         360          ADN1
           16218602                         120          Prepay                                        360          ADN1
           16218603                         120          No_PP                                         360          ADN1
           16218604                          84          No_PP                                         360          ADN1
           16218605                          84          Prepay                                        360          ADN1
           16218606                           0          No_PP                                         360          ADN1
           16218607                          84          No_PP                                         360          ADN1
           16218597                          84          No_PP                                         360          ADN1
           16218598                           0          No_PP                                         360          ADN1
           16218599                          84          No_PP                                         360          ADN1
           16218570                          84          No_PP                                         360          ADN1
           16218571                           0          No_PP                                         360          ADN1
           16218572                          84          No_PP                                         360          ADN1
           16218573                          84          Prepay                                        360          ADN1
           16218574                          84          No_PP                                         360          ADN1
           16218575                          84          No_PP                                         360          ADN1
           16218576                           0          No_PP                                         360          ADN1
           16218577                           0          No_PP                                         360          ADN1
           16218578                          84          No_PP                                         360          ADN1
           16218579                           0          No_PP                                         360          ADN1
           16218580                          84          No_PP                                         360          ADN1
           16218581                          84          No_PP                                         360          ADN1
           16218582                          84          No_PP                                         360          ADN1
           16218583                          84          No_PP                                         360          ADN1
           16218584                          84          Prepay                                        360          ADN1
           16218585                          84          No_PP                                         360          ADN1
           16218586                          84          No_PP                                         360          ADN1
           16218587                           0          No_PP                                         360          ADN1
           16218588                          84          No_PP                                         360          ADN1
           16218589                         120          Prepay                                        360          ADN1
           16218590                          84          No_PP                                         360          ADN1
           16218591                         120          No_PP                                         360          ADN1
           16218592                          84          No_PP                                         360          ADN1
           16218593                           0          No_PP                                         360          ADN1
           16218594                           0          No_PP                                         360          ADN1
           16218595                         120          No_PP                                         360          ADN1
           16218596                          84          No_PP                                         360          ADN1
           16232384                          84          No_PP                                         360          ADN1
           16218960                         120          Prepay                                        360          ADN1
           16218961                         120          Prepay                                        360          ADN1
           16218962                         120          Prepay                                        360          ADN1
           16218963                         120          Prepay                                        360          ADN1
           16218964                         120          No_PP                                         360          ADN1
           16218965                           0          No_PP                                         360          ADN1
           16218966                         120          Prepay                                        360          ADN1
           16218967                         120          No_PP                                         360          ADN1
           16218968                         120          Prepay                                        360          ADN1
           16218969                         120          Prepay                                        360          ADN1
           16218970                         120          Prepay                                        360          ADN1
           16218971                         120          No_PP                                         360          ADN1
           16218972                         120          Prepay                                        360          ADN1
           16218973                           0          No_PP                                         360          ADN1
           16218974                         120          Prepay                                        360          ADN1
           16218975                         120          Prepay                                        360          ADN1
           16218976                         120          No_PP                                         360          ADN1
           16218977                         120          No_PP                                         360          ADN1
           16218978                         120          Prepay                                        360          ADN1
           16218979                         120          No_PP                                         360          ADN1
           16218980                         120          Prepay                                        360          ADN1
           16218981                         120          Prepay                                        360          ADN1
           16218982                         120          Prepay                                        360          ADN1
           16218983                         120          No_PP                                         360          ADN1
           16218984                         120          No_PP                                         360          ADN1
           16218985                         120          Prepay                                        360          ADN1
           16218986                         120          Prepay                                        360          ADN1
           16218987                         120          Prepay                                        360          ADN1
           16218988                         120          No_PP                                         360          ADN1
           16218989                         120          Prepay                                        360          ADN1
           16218990                         120          Prepay                                        360          ADN1
           16218991                         120          Prepay                                        360          ADN1
           16218992                         120          Prepay                                        360          ADN1
           16218993                         120          No_PP                                         360          ADN1
           16218994                         120          No_PP                                         360          ADN1
           16218995                         120          No_PP                                         360          ADN1
           16218996                         120          Prepay                                        360          ADN1
           16218997                         120          No_PP                                         360          ADN1
           16218998                         120          Prepay                                        360          ADN1
           16218999                         120          Prepay                                        360          ADN1
           16218940                         120          Prepay                                        360          ADN1
           16218941                         120          No_PP                                         360          ADN1
           16218942                         120          No_PP                                         360          ADN1
           16218943                         120          Prepay                                        360          ADN1
           16218944                         120          Prepay                                        360          ADN1
           16218945                           0          No_PP                                         360          ADN1
           16218946                         120          Prepay                                        360          ADN1
           16218947                         120          Prepay                                        360          ADN1
           16218948                         120          Prepay                                        360          ADN1
           16218949                         120          No_PP                                         360          ADN1
           16218950                         120          Prepay                                        360          ADN1
           16218951                         120          Prepay                                        360          ADN1
           16218952                         120          No_PP                                         360          ADN1
           16218953                         120          No_PP                                         360          ADN1
           16218954                         120          Prepay                                        360          ADN1
           16218955                         120          No_PP                                         360          ADN1
           16218956                         120          No_PP                                         360          ADN1
           16218957                         120          Prepay                                        360          ADN1
           16218958                         120          No_PP                                         360          ADN1
           16218959                         120          Prepay                                        360          ADN1
           16218930                         120          Prepay                                        360          ADN1
           16218931                         120          Prepay                                        360          ADN1
           16218932                         120          Prepay                                        360          ADN1
           16218933                           0          No_PP                                         360          ADN1
           16218934                         120          No_PP                                         360          ADN1
           16218935                         120          Prepay                                        360          ADN1
           16218936                         120          No_PP                                         360          ADN1
           16218937                         120          Prepay                                        360          ADN1
           16218938                         120          No_PP                                         360          ADN1
           16218939                         120          Prepay                                        360          ADN1
           16218885                         120          Prepay                                        360          ADN1
           16218886                         120          Prepay                                        360          ADN1
           16218887                         120          Prepay                                        360          ADN1
           16218888                         120          No_PP                                         360          ADN1
           16218889                         120          Prepay                                        360          ADN1
           16218890                         120          No_PP                                         360          ADN1
           16218891                         120          Prepay                                        360          ADN1
           16218892                         120          No_PP                                         360          ADN1
           16218893                         120          No_PP                                         360          ADN1
           16218894                         120          No_PP                                         360          ADN1
           16218895                         120          No_PP                                         360          ADN1
           16218896                           0          No_PP                                         360          ADN1
           16218897                         120          No_PP                                         360          ADN1
           16218898                         120          No_PP                                         360          ADN1
           16218899                         120          No_PP                                         360          ADN1
           16218880                         120          No_PP                                         360          ADN1
           16218881                           0          No_PP                                         360          ADN1
           16218882                         120          Prepay                                        360          ADN1
           16218883                         120          No_PP                                         360          ADN1
           16218884                         120          Prepay                                        360          ADN1
           16218901                         120          Prepay                                        360          ADN1
           16218902                         120          No_PP                                         360          ADN1
           16218903                         120          No_PP                                         360          ADN1
           16218904                         120          No_PP                                         360          ADN1
           16218905                         120          No_PP                                         360          ADN1
           16218906                         120          No_PP                                         360          ADN1
           16218907                         120          No_PP                                         360          ADN1
           16218908                         120          No_PP                                         360          ADN1
           16218909                           0          No_PP                                         360          ADN1
           16218910                         120          No_PP                                         360          ADN1
           16218911                         120          Prepay                                        360          ADN1
           16218912                         120          No_PP                                         360          ADN1
           16218913                         120          No_PP                                         360          ADN1
           16218914                         120          No_PP                                         360          ADN1
           16218915                         120          No_PP                                         360          ADN1
           16218916                         120          No_PP                                         360          ADN1
           16218917                         120          Prepay                                        360          ADN1
           16218918                         120          Prepay                                        360          ADN1
           16218919                         120          Prepay                                        360          ADN1
           16218920                         120          Prepay                                        360          ADN1
           16218921                           0          No_PP                                         360          ADN1
           16218922                         120          Prepay                                        360          ADN1
           16218923                         120          Prepay                                        360          ADN1
           16218924                         120          Prepay                                        360          ADN1
           16218925                           0          Prepay                                        360          ADN1
           16218926                         120          Prepay                                        360          ADN1
           16218927                         120          No_PP                                         360          ADN1
           16218928                         120          Prepay                                        360          ADN1
           16218929                         120          Prepay                                        360          ADN1
           16218900                         120          No_PP                                         360          ADN1
           16219027                         120          No_PP                                         360          ADN1
           16219029                         120          Prepay                                        360          ADN1
           16219030                         120          No_PP                                         360          ADN1
           16219000                         120          Prepay                                        360          ADN1
           16219001                         120          Prepay                                        360          ADN1
           16219002                         120          Prepay                                        360          ADN1
           16219003                         120          Prepay                                        360          ADN1
           16219004                         120          Prepay                                        360          ADN1
           16219005                           0          Prepay                                        360          ADN1
           16219006                           0          No_PP                                         360          ADN1
           16219007                         120          Prepay                                        360          ADN1
           16219008                         120          No_PP                                         360          ADN1
           16219009                         120          Prepay                                        360          ADN1
           16219010                           0          No_PP                                         360          ADN1
           16219011                         120          Prepay                                        360          ADN1
           16219012                         120          No_PP                                         360          ADN1
           16219013                         120          Prepay                                        360          ADN1
           16219014                         120          No_PP                                         360          ADN1
           16219015                         120          Prepay                                        360          ADN1
           16219016                         120          Prepay                                        360          ADN1
           16219017                         120          No_PP                                         360          ADN1
           16219018                         120          Prepay                                        360          ADN1
           16219019                         120          Prepay                                        360          ADN1
           16219020                         120          No_PP                                         360          ADN1
           16219021                         120          No_PP                                         360          ADN1
           16219022                         120          Prepay                                        360          ADN1
           16219023                         120          Prepay                                        360          ADN1
           16219024                         120          Prepay                                        360          ADN1
           16219025                         120          Prepay                                        360          ADN1
           16219026                         120          Prepay                                        360          ADN1
           16132484                         120          No_PP                                         360          ADN1
           16132485                          60          No_PP                                         360          ADN1
           16132486                          60          No_PP                                         360          ADN1
           16132487                          60          No_PP                                         360          ADN1
           16132488                          60          No_PP                                         360          ADN1
           16132490                         120          No_PP                                         360          ADN1
           16132491                          84          No_PP                                         360          ADN1
           16132492                           0          No_PP                                         360          ADN1
           15830580                           0          No_PP                                         360          ADN1
           15830659                           0          No_PP                                         360          ADN1
           15830691                           0          No_PP                                         360          ADN1
           15830692                          60          No_PP                                         360          ADN1
           15830779                          60          No_PP                                         360          ADN1
           15830881                         120          No_PP                                         360          ADN1
           15830883                         120          No_PP                                         360          ADN1
           15830956                           0          No_PP                                         360          ADN1
           15830987                         120          No_PP                                         360          ADN1
           15831159                          60          No_PP                                         360          ADN1
           15831162                          60          No_PP                                         360          ADN1
           15831298                           0          No_PP                                         360          ADN1
           15831306                           0          No_PP                                         360          ADN1
           15831355                           0          No_PP                                         360          ADN1
           15831373                          60          No_PP                                         360          ADN1
           15831471                          60          No_PP                                         360          ADN1
           15831507                           0          No_PP                                         360          ADN1
           15831577                          60          No_PP                                         360          ADN1
           15831602                          60          No_PP                                         360          ADN1
           15831626                         120          No_PP                                         360          ADN1
           15831665                          60          No_PP                                         360          ADN1
           15831684                          60          No_PP                                         360          ADN1
           15831701                          60          No_PP                                         360          ADN1
           16019791                         120          No_PP                                         360          ADN1
           16019841                           0          No_PP                                         360          ADN1
           16019844                          60          No_PP                                         360          ADN1
           16020328                          60          No_PP                                         360          ADN1
           16020419                           0          No_PP                                         360          ADN1
           16020619                          60          No_PP                                         360          ADN1
           16020700                           0          No_PP                                         360          ADN1
           16020753                           0          No_PP                                         360          ADN1
           16020805                         120          No_PP                                         360          ADN1
           16020911                          60          No_PP                                         360          ADN1
           16166788                          60          No_PP                                         360          ADN1
           16166791                          60          No_PP                                         360          ADN1
           16166795                          60          No_PP                                         360          ADN1
           16166796                          60          No_PP                                         360          ADN1
           16166748                         120          No_PP                                         360          ADN1
           16166762                          60          No_PP                                         360          ADN1
           16166772                          60          No_PP                                         360          ADN1
           16166776                         120          No_PP                                         360          ADN1
           16166781                          60          No_PP                                         360          ADN1
           16166782                          60          No_PP                                         360          ADN1
           16166787                          60          Prepay                                        360          ADN1
           16166737                          60          No_PP                                         360          ADN1
           16166621                          60          Prepay                                        360          ADN1
           16166639                          60          No_PP                                         360          ADN1
           16166641                          60          No_PP                                         360          ADN1
           16166645                          60          No_PP                                         360          ADN1
           16166660                          60          No_PP                                         360          ADN1
           16166664                          60          Prepay                                        360          ADN1
           16166666                          60          No_PP                                         360          ADN1
           16166669                          60          No_PP                                         360          ADN1
           16166670                          60          No_PP                                         360          ADN1
           16166672                          60          No_PP                                         360          ADN1
           16166679                          60          No_PP                                         360          ADN1
           16166682                          60          No_PP                                         360          ADN1
           16166683                          60          Prepay                                        360          ADN1
           16166686                           0          No_PP                                         360          ADN1
           16166689                          60          Prepay                                        360          ADN1
           16166695                          60          No_PP                                         360          ADN1
           16166698                          60          No_PP                                         360          ADN1
           16166702                          60          No_PP                                         360          ADN1
           16166711                           0          No_PP                                         360          ADN1
           16166716                          60          No_PP                                         360          ADN1
           16166725                          60          No_PP                                         360          ADN1
           16166729                           0          No_PP                                         360          ADN1
           16166616                          60          Prepay                                        360          ADN1
           16166593                          60          No_PP                                         360          ADN1
           16166595                          60          Prepay                                        360          ADN1
           16166610                          60          Prepay                                        360          ADN1
           16166613                          60          Prepay                                        360          ADN1
           16166614                          60          No_PP                                         360          ADN1
           16166577                          60          No_PP                                         360          ADN1
           16166579                          60          Prepay                                        360          ADN1
           16166580                           0          No_PP                                         360          ADN1
           16166454                         120          Prepay                                        360          ADN1
           16166458                          60          No_PP                                         360          ADN1
           16166459                           0          No_PP                                         360          ADN1
           16166460                          60          No_PP                                         360          ADN1
           16166467                           0          No_PP                                         360          ADN1
           16166469                          60          No_PP                                         360          ADN1
           16166470                           0          No_PP                                         360          ADN1
           16166474                          60          No_PP                                         360          ADN1
           16166477                          60          No_PP                                         360          ADN1
           16166488                          60          Prepay                                        360          ADN1
           16166494                         120          Prepay                                        360          ADN1
           16166515                          60          No_PP                                         360          ADN1
           16166518                          60          No_PP                                         360          ADN1
           16166519                          60          No_PP                                         360          ADN1
           16166521                          60          No_PP                                         360          ADN1
           16166522                          60          No_PP                                         360          ADN1
           16166523                          60          No_PP                                         360          ADN1
           16166524                          60          No_PP                                         360          ADN1
           16166526                          60          No_PP                                         360          ADN1
           16166533                          60          Prepay                                        360          ADN1
           16166539                          60          No_PP                                         360          ADN1
           16166540                          60          Prepay                                        360          ADN1
           16166544                          60          No_PP                                         360          ADN1
           16166545                          60          No_PP                                         360          ADN1
           16166550                          60          No_PP                                         360          ADN1
           16166560                           0          Prepay                                        360          ADN1
           16166417                          60          No_PP                                         360          ADN1
           16166419                          60          Prepay                                        360          ADN1
           16166421                          60          No_PP                                         360          ADN1
           16166425                          60          No_PP                                         360          ADN1
           16166426                          60          Prepay                                        360          ADN1
           16166428                          60          Prepay                                        360          ADN1
           16166435                          60          Prepay                                        360          ADN1
           16166436                           0          No_PP                                         360          ADN1
           16166443                           0          Prepay                                        360          ADN1
           16166449                          60          No_PP                                         360          ADN1
           16166319                          60          No_PP                                         360          ADN1
           16166321                          60          No_PP                                         360          ADN1
           16166323                          60          No_PP                                         360          ADN1
           16166327                          60          Prepay                                        360          ADN1
           16166328                          60          No_PP                                         360          ADN1
           16166336                          60          Prepay                                        360          ADN1
           16166340                          60          No_PP                                         360          ADN1
           16166344                          60          No_PP                                         360          ADN1
           16166349                          60          No_PP                                         360          ADN1
           16166353                          60          No_PP                                         360          ADN1
           16166359                          60          No_PP                                         360          ADN1
           16166364                          60          No_PP                                         360          ADN1
           16166377                          60          No_PP                                         360          ADN1
           16166378                          60          No_PP                                         360          ADN1
           16166379                          60          Prepay                                        360          ADN1
           16166380                          60          Prepay                                        360          ADN1
           16166389                          60          No_PP                                         360          ADN1
           16166390                          60          No_PP                                         360          ADN1
           16166395                          60          No_PP                                         360          ADN1
           16166407                          60          No_PP                                         360          ADN1
           16166411                          60          No_PP                                         360          ADN1
           16166289                           0          No_PP                                         360          ADN1
           16166296                          60          No_PP                                         360          ADN1
           16166310                          60          Prepay                                        360          ADN1
           16166313                          60          No_PP                                         360          ADN1
           16166315                           0          No_PP                                         360          ADN1
           16166318                          60          No_PP                                         360          ADN1
           16166098                          60          No_PP                                         360          ADN1
           16166102                           0          No_PP                                         360          ADN1
           16166104                          60          No_PP                                         360          ADN1
           16166106                          60          No_PP                                         360          ADN1
           16166107                          60          Prepay                                        360          ADN1
           16166108                          60          No_PP                                         360          ADN1
           16166110                          60          Prepay                                        360          ADN1
           16166113                          60          No_PP                                         360          ADN1
           16166115                          60          Prepay                                        360          ADN1
           16166116                          60          No_PP                                         360          ADN1
           16166121                          60          No_PP                                         360          ADN1
           16166122                          60          No_PP                                         360          ADN1
           16166125                          60          No_PP                                         360          ADN1
           16166127                          60          No_PP                                         360          ADN1
           16166128                          60          No_PP                                         360          ADN1
           16166135                          60          No_PP                                         360          ADN1
           16166136                          60          No_PP                                         360          ADN1
           16166138                          60          No_PP                                         360          ADN1
           16166142                          60          No_PP                                         360          ADN1
           16166143                          60          No_PP                                         360          ADN1
           16166145                           0          No_PP                                         360          ADN1
           16166147                          60          No_PP                                         360          ADN1
           16166148                          60          No_PP                                         360          ADN1
           16166151                          60          No_PP                                         360          ADN1
           16166152                          60          No_PP                                         360          ADN1
           16166155                          60          Prepay                                        360          ADN1
           16166159                          60          No_PP                                         360          ADN1
           16166160                           0          No_PP                                         360          ADN1
           16166161                          60          No_PP                                         360          ADN1
           16166163                          60          No_PP                                         360          ADN1
           16166164                          60          No_PP                                         360          ADN1
           16166167                          60          No_PP                                         360          ADN1
           16166168                          60          Prepay                                        360          ADN1
           16166170                          60          No_PP                                         360          ADN1
           16166175                          60          No_PP                                         360          ADN1
           16166176                          60          No_PP                                         360          ADN1
           16166178                          60          No_PP                                         360          ADN1
           16166189                          60          No_PP                                         360          ADN1
           16166194                          60          No_PP                                         360          ADN1
           16166197                           0          No_PP                                         360          ADN1
           16166200                           0          No_PP                                         360          ADN1
           16166201                          60          No_PP                                         360          ADN1
           16166202                          60          No_PP                                         360          ADN1
           16166203                           0          No_PP                                         360          ADN1
           16166204                          60          No_PP                                         360          ADN1
           16166207                          60          No_PP                                         360          ADN1
           16166213                          60          No_PP                                         360          ADN1
           16166217                          60          No_PP                                         360          ADN1
           16166218                          60          No_PP                                         360          ADN1
           16166220                           0          No_PP                                         360          ADN1
           16166223                           0          No_PP                                         360          ADN1
           16166225                          60          No_PP                                         360          ADN1
           16166232                          60          No_PP                                         360          ADN1
           16166234                          60          No_PP                                         360          ADN1
           16166235                           0          No_PP                                         360          ADN1
           16166237                          60          No_PP                                         360          ADN1
           16166238                           0          No_PP                                         360          ADN1
           16166245                          60          Prepay                                        360          ADN1
           16166247                         120          No_PP                                         360          ADN1
           16166249                          60          No_PP                                         360          ADN1
           16166255                          60          No_PP                                         360          ADN1
           16166267                          60          No_PP                                         360          ADN1
           16166069                          60          Prepay                                        360          ADN1
           16166074                          60          Prepay                                        360          ADN1
           16166083                          60          Prepay                                        360          ADN1
           16166092                          60          No_PP                                         360          ADN1
               2026

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

    

    

    EXHIBIT
      C

     

    [RESERVED]

     

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      D

    REQUEST
      FOR RELEASE OF DOCUMENTS

     

    
      	
              To:

            	
              Wells
                Fargo Bank, N.A.

            

    

    1015
      10th
      Avenue
      S.E.

    Minneapolis,
      MN 55414-0031

    Attn:
      Inventory Control

     

    
      	
              RE:

            	
              Pooling
                and Servicing Agreement, dated as
                of

            

    

    May
      1,
      2006, among SAMI II,

    Wells
      Fargo Bank, N.A., as Master Servicer

    and
      Securities Administrator,

    EMC
      Mortgage Corporation, as Seller

    and
      company and U.S. Bank National Association, as Trustee

     

    In
      connection with the administration of the Mortgage Loans held by you pursuant
      to
      the above-captioned Pooling and Servicing Agreement, we request the release,
      and
      hereby acknowledge receipt, of the Mortgage File for the Mortgage Loan described
      below, for the reason indicated.

     

    Mortgage
      Loan Number:

     

    Mortgagor
      Name, Address & Zip Code:

     

    Reason
      for Requesting Documents (check one):

     

    
      	
              _____

            	
              1.

            	
              Mortgage
                Paid in Full and proceeds have been deposited into the Custodial
                Account

            
	
              _____

            	
              2.

            	
              Foreclosure

            
	
              _____

            	
              3.

            	
              Substitution

            
	
              _____

            	
              4.

            	
              Other
                Liquidation

            
	
              _____

            	
              5.

            	
              Nonliquidation  Reason:
                ______________________

            
	
              _____

            	
              6.

            	
              California
                Mortgage Loan paid in full

            

    

    

     

    
      	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (authorized
                signer)

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	
              Issuer:

            	 
	 	 	 	 	 	 	
              Address:

            	 
	 	 	 	 	 	 	
              Date:

            	 

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      E

     

    FORM
      OF
      AFFIDAVIT

     

    Affidavit
      pursuant to Section 860E(e)(4) of the Internal Revenue Code of 1986, as amended,
      and for other purposes

     

    
      	
              STATE
                OF 

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF___________

            	
              )

            	 

    

     

    [NAME
      OF
      OFFICER], being first duly sworn, deposes and says:

     

    1. That
      he
      is [Title of Officer] of [Name of Investor] (the “Investor”), a [savings
      institution] [corporation] duly organized and existing under the laws of [the
      State of ] [the United States], on behalf of which he makes this
      affidavit.

     

    2. That
      (i)
      the Investor is not a “disqualified organization” as defined in Section
      860E(e)(5) of the Internal Revenue Code of 1986, as amended (the “Code”), and
      will not be a disqualified organization as of [Closing Date] [date of purchase];
      (ii) it is not acquiring the Structured Asset Mortgage Investments II Inc.,
      Bear
      Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2006-2 Class
      R-I
      Certificates, Class R-II Certificates and Class R-III Certificates (the
“Residual Certificates”) for the account of a disqualified organization; (iii)
      it consents to any amendment of the Pooling and Servicing Agreement that shall
      be deemed necessary by Structured Asset Mortgage Investments II Inc. (upon
      advice of counsel) to constitute a reasonable arrangement to ensure that the
      Residual Certificates will not be owned directly or indirectly by a disqualified
      organization; and (iv) it will not transfer such Residual Certificates unless
      (a) it has received from the transferee an affidavit in substantially the same
      form as this affidavit containing these same four representations and (b) as
      of
      the time of the transfer, it does not have actual knowledge that such affidavit
      is false.

     

    3. That
      the
      Investor is one of the following: (i) a citizen or resident of the United
      States, (ii) a corporation or partnership (including an entity treated as a
      corporation or partnership for federal income tax purposes) created or organized
      in, or under the laws of, the United States or any state thereof or the District
      of Columbia (except, in the case of a partnership, to the extent provided in
      regulations), provided that no partnership or other entity treated as a
      partnership for United States federal income tax purposes shall be treated
      as a
      United States Person unless all persons that own an interest in such partnership
      either directly or through any entity that is not a corporation for United
      States federal income tax purposes are United States Persons, (iii) an estate
      whose income is subject to United States federal income tax regardless of its
      source, or (iv) a trust other than a “foreign trust,” as defined in Section 7701
      (a)(31) of the Code.

     

    4. That
      the
      Investor’s taxpayer identification number is
      ______________________.

     

    5. That
      no
      purpose of the acquisition of the Residual Certificates is to avoid or impede
      the assessment or collection of tax.

     

    6. That
      the
      Investor understands that, as the holder of the Residual Certificates, the
      Investor may incur tax liabilities in excess of any cash flows generated by
      such
      Residual Certificates.

     

    7. That
      the
      Investor intends to pay taxes associated with holding the Residual Certificates
      as they become due.

     

    IN
      WITNESS WHEREOF, the Investor has caused this instrument to be executed on
      its
      behalf, pursuant to authority of its Board of Directors, by its [Title of
      Officer] this ____ day of _________, 20__.

     

    
      	 	 	 	 	 	 	 	
              [NAME
                OF INVESTOR]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              [Name
                of Officer]

            
	 	 	 	 	 	 	 	 	
              [Title
                of Officer]

            
	 	 	 	 	 	 	 	 	
              [Address
                of Investor for receipt of distributions]

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	
              Address
                of Investor for receipt of tax
                information:

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Personally
      appeared before me the above-named [Name of Officer], known or proved to me
      to
      be the same person who executed the foregoing instrument and to be the [Title
      of
      Officer] of the Investor, and acknowledged to me that he executed the same
      as
      his free act and deed and the free act and deed of the Investor.

     

    Subscribed
      and sworn before me this ___ day of _________, 20___.

     

    NOTARY
      PUBLIC

     

    COUNTY
      OF

     

    STATE
      OF

     

    My
      commission expires the ___ day of ___________________, 20___.

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      F-1

     

    FORM
      OF
      INVESTMENT LETTER

     

    [Date]

    [SELLER]

     

    Wells
      Fargo Bank, N.A.

    Sixth
      Street and Marquette Avenue

    Minneapolis,
      Minnesota 55479

     

    Structured
      Asset Mortgage Investments II Inc.

    383
      Madison Avenue

    New
      York,
      New York 10179

     

    
      	
              Re:

            	
              Structured
                Asset Mortgage Investments II Inc., Bear Stearns ARM Trust, Series
                2006-2
                Mortgage Pass-Through Certificates (the “Certificates”), including the
                Class
                B-4, Class B-5 and Class B-6 Certificates
                (the “Privately Offered
                Certificates”

            

    

    

     

    Dear
      Ladies and Gentlemen:

     

    In
      connection with our purchase of Privately Offered Certificates, we confirm
      that:

     

    
      	 	
              (i)

            	
              we
                understand that the Privately Offered Certificates are not being
                registered under the Securities Act of 1933, as amended (the “Act”) or any
                applicable state securities or “Blue Sky” laws, and are being sold to us
                in a transaction that is exempt from the registration requirements
                of such
                laws;

            

    

     

    
      	 	
              (ii)

            	
              any
                information we desired concerning the Certificates, including the
                Privately Offered Certificates, the trust in which the Certificates
                represent the entire beneficial ownership interest (the “Trust”) or any
                other matter we deemed relevant to our decision to purchase Privately
                Offered Certificates has been made available to
                us;

            

    

     

    
      	 	
              (iii)

            	
              we
                are able to bear the economic risk of investment in Privately Offered
                Certificates; we are an institutional “accredited investor” as defined in
                Section 501(a) of Regulation D promulgated under the Act and a
                sophisticated institutional
                investor;

            

    

     

    
      	 	
              (iv)

            	
              we
                are acquiring Privately Offered Certificates for our own account,
                not as
                nominee for any other person, and not with a present view to any
                distribution or other disposition of the Privately Offered
                Certificates;

            

    

     

    
      	 	
              (v)

            	
              we
                agree the Privately Offered Certificates must be held indefinitely
                by us
                (and may not be sold, pledged, hypothecated or in any way disposed
                of)
                unless subsequently registered under the Act and any applicable state
                securities or “Blue Sky” laws or an exemption from the registration
                requirements of the Act and any applicable state securities or “Blue Sky”
                laws is available;

            

    

     

    
      	 	
              (vi)

            	
              we
                agree that in the event that at some future time we wish to dispose
                of or
                exchange any of the Privately Offered Certificates (such disposition
                or
                exchange not being currently foreseen or contemplated), we will not
                transfer or exchange any of the Privately Offered Certificates
                unless:

            

    

     

    (A)
      (1)
      the sale is to an Eligible Purchaser (as defined below), (2) if required by
      the
      Pooling and Servicing Agreement (as defined below) a letter to substantially
      the
      same effect as either this letter or, if the Eligible Purchaser is a Qualified
      Institutional Buyer as defined under Rule 144A of the Act, the Rule 144A and
      Related Matters Certificate in the form attached to the Pooling and Servicing
      Agreement (as defined below) (or such other documentation as may be acceptable
      to the Trustee) is executed promptly by the purchaser and delivered to the
      addressees hereof and (3) all offers or solicitations in connection with the
      sale, whether directly or through any agent acting on our behalf, are limited
      only to Eligible Purchasers and are not made by means of any form of general
      solicitation or general advertising whatsoever; and

     

    (B) if
      the
      Privately Offered Certificate is not registered under the Act (as to which
      we
      acknowledge you have no obligation), the Privately Offered Certificate is sold
      in a transaction that does not require registration under the Act and any
      applicable state securities or “blue sky” laws and, if U.S. Bank National
      Association (the “Trustee”) so requests, a satisfactory Opinion of Counsel is
      furnished to such effect, which Opinion of Counsel shall be an expense of the
      transferor or the transferee;

     

    
      	 	
              (vii)

            	
              we
                agree to be bound by all of the terms (including those relating to
                restrictions on transfer) of the Pooling and Servicing, pursuant
                to which
                the Trust was formed; we have reviewed carefully and understand the
                terms
                of the Pooling and Servicing
                Agreement;

            

    

     

    
      	 	
              (viii)

            	
              we
                either: (i) are not acquiring the Privately Offered Certificate directly
                or indirectly by, or on behalf of, an employee benefit plan or other
                retirement arrangement which is subject to Title I of the Employee
                Retirement Income Security Act of 1974, as amended, or section 4975
                of the
                Internal Revenue Code of 1986, as amended, or (ii) are providing
                a
                representation to the effect that the proposed transfer and holding
                of a
                Privately Offered Certificate and the servicing, management and operation
                of the Trust and its assets: (I) will not result in any prohibited
                transaction which is not covered under an individual or class prohibited
                transaction exemption, including, but not limited to, Prohibited
                Transaction Exemption (“PTE”) 84-14, PTE 91-38, PTE 90-1, PTE 95-60, or
                PTE 96-23 and (II) will not give rise to any additional obligations
                on the
                part of the Depositor, the Master Servicer, the Securities Administrator
                or the Trustee or (iii) have attached hereto the opinion specified
                in
                Section 5.07 of the Agreement.

            

    

     

    
      	 	
              (ix)

            	
              We
                understand that each of the Privately Offered Certificates bears,
                and will
                continue to bear, a legend to substantiate the following effect:
“THIS
                CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
                ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE
                SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE,
                AGREES
                THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
                TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER
                APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES
                ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A
                QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A
“QIB”),
                PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT
                OF A
                QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER,
                RESALE,
                PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
                (2)
                PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER
                THE
                SECURITIES ACT (IF AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN
                “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING THEREOF IN RULE
                501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE ACT OR ANY ENTITY
                IN
                WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS PURCHASING
                NOT
                FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT TO (A)
                THE
                RECEIPT BY THE CERTIFICATE REGISTRAR OF A LETTER SUBSTANTIALLY IN
                THE FORM
                PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY THE CERTIFICATE
                REGISTRAR
                OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE CERTIFICATE REGISTRAR THAT
                SUCH
                REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES
                ACT AND OTHER APPLICABLE LAWS OR IN EACH CASE IN ACCORDANCE WITH
                ALL
                APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND ANY OTHER APPLICABLE
                JURISDICTION. THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY
                BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
                ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT
                INCOME
                SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL
                REVENUE
                CODE OF 1986, AS AMENDED, UNLESS THE PROPOSED TRANSFER AND HOLDING
                OF A
                CERTIFICATE AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST
                AND
                ITS ASSETS: (1) WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH
                IS NOT
                COVERED UNDER AN INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION,
                INCLUDING, BUT NOT LIMITED TO, PROHIBITED TRANSACTION EXEMPTION (“PTE”)
                84-14, PTE 91-38, PTE 90-1, PTE 95-60 OR PTE 96-23 AND (II) WILL
                NOT GIVE
                RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR,
                THE
                MASTER SERVICER, THE SECURITIES ADMINISTRATOR OR THE TRUSTEE, WHICH
                WILL
                BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR
                A GLOBAL
                CERTIFICATE OR UNLESS THE OPINION PROVIDED IN SECTION 5.07 OF THE
                AGREEMENT IS PROVIDED.”

            

    

     

    “Eligible
      Purchaser”
means
      a
      corporation, partnership or other entity which we have reasonable grounds to
      believe and do believe (i) can make representations with respect to itself
      to
      substantially the same effect as the representations set forth herein, and
      (ii)
      is either a Qualified Institutional Buyer as defined under Rule 144A of the
      Act
      or an institutional “Accredited Investor” as defined under Rule 501 of the
      Act.

     

    Terms
      not
      otherwise defined herein shall have the meanings assigned to them in the Pooling
      and Servicing Agreement, dated as of May 1, 2006, among Structured Asset
      Mortgage Investments II Inc., Wells Fargo Bank, N.A. as master servicer and
      securities administrator, EMC Mortgage Corporation, as seller and U.S. Bank
      National Association, as Trustee (the “Pooling and Servicing
      Agreement”).

     

    If
      the
      Purchaser proposes that its Certificates be registered in the name of a nominee
      on its behalf, the Purchaser has identified such nominee below, and has caused
      such nominee to complete the Nominee Acknowledgment at the end of this
      letter.

     

    Name
      of
      Nominee (if any): _________________________________

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    IN
      WITNESS WHEREOF, this document has been executed by the undersigned who is
      duly
      authorized to do so on behalf of the undersigned Eligible Purchaser on the
      ___
      day of ________, 20___.

     

    
      	 	 	 	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [PURCHASER]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Nominee
      Acknowledgment

     

    The
      undersigned hereby acknowledges and agrees that as to the Certificates being
      registered in its name, the sole beneficial owner thereof is and shall be the
      Purchaser identified above, for whom the undersigned is acting as
      nominee.

     

    
      	 	 	 	 	 	 	 	
              [NAME
                OF NOMINEE]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      F-2

     

    FORM
      OF
      RULE 144A AND RELATED MATTERS CERTIFICATE

    [Date]

    [SELLER]

     

    Wells
      Fargo Bank, N.A.

    Sixth
      Street and Marquette Avenue

    Minneapolis,
      Minnesota 55479

     

    Structured
      Asset Mortgage Investments II Inc.

    383
      Madison Avenue

    New
      York,
      New York 10179

     

    
      	
              Re:

            	
              Structured
                Asset Mortgage Investments II Inc., Bear Stearns ARM Trust, Series
                2006-2
                Mortgage Pass-Through Certificates, Class B-4, Class B-5 and Class
                B-6
                Certificates (the “Privately Offered
                Certificates”)

            

    

    

     

    Dear
      Ladies and Gentlemen:

     

    In
      connection with our purchase of Privately Offered Certificates, the undersigned
      certifies to each of the parties to whom this letter is addressed that it is
      a
      qualified institutional buyer (as defined in Rule 144A under the Securities
      Act
      of 1933, as amended (the “Act”)) as follows:

     

    
      	
              1.

            	
              It
                owned and/or invested on a discretionary basis eligible securities
                (excluding affiliate’s securities, bank deposit notes and CD’s, loan
                participations, repurchase agreements, securities owned but subject
                to a
                repurchase agreement and swaps), as described
                below:

            

    

     

    Date:
      ______________, 20__ (must be on or after the close of its most recent fiscal
      year)

     

    Amount:
      $
      _____________________; and

     

    
      	
              2.

            	
              The
                dollar amount set forth above is:

            

    

     

    
      	
              a.

            	
               

            	
              greater
                than $100 million and the undersigned is one of the following
                entities:

            

    

     

    
      	
              (x)

            	
              [
                ]

            	
              an
                insurance company as defined in Section 2(13) of the Act1 ;
                or

               

            
	
              (y)

            	
              [
                ]

            	
              an
                investment company registered under the Investment Company Act or
                any
                business development company as defined in Section 2(a)(48) of the
                Investment Company Act of 1940; or

               

            
	
              (z)

            	
              [
                ]

            	
              a
                Small Business Investment Company licensed by the U.S. Small Business
                Administration under Section 301(c) or (d) of the Small Business
                Investment Act of 1958; or

               

            
	
              (aa)

            	
              [
                ]

            	
              a
                plan (i) established and maintained by a state, its political
                subdivisions, or any agency or instrumentality of a state or its
                political
                subdivisions, the laws of which permit the purchase of securities
                of this
                type, for the benefit of its employees and (ii) the governing investment
                guidelines of which permit the purchase of securities of this type;
                or

               

            
	
              (bb)

            	
              [
                ]

            	
              a
                business development company as defined in Section 202(a)(22) of
                the
                Investment Advisers Act of 1940; or

               

            
	
              (cc)

            	
              [
                ]

            	
              a
                corporation (other than a U.S. bank, savings and loan association
                or
                equivalent foreign institution), partnership, Massachusetts or similar
                business trust, or an organization described in Section 501(c)(3)
                of the
                Internal Revenue Code; or

               

            
	
              (dd)

            	
              [
                ]

            	
              a
                U.S. bank, savings and loan association or equivalent foreign institution,
                which has an audited net worth of at least $25 million as demonstrated
                in
                its latest annual financial statements; or

               

            
	
              (ee)

            	
              [
                ]

            	
              an
                investment adviser registered under the Investment Advisers Act;
                or

               

            
	
              b.

            	
              [
                ]

            	
              greater
                than $10 million, and the undersigned is a broker-dealer registered
                with
                the SEC; or

               

            
	
              c.

            	
              [
                ]

            	
              less
                than $10 million, and the undersigned is a broker-dealer registered
                with
                the SEC and will only purchase Rule 144A securities in transactions
                in
                which it acts as a riskless principal (as defined in Rule 144A);
                or

               

            
	
              d.

            	
              [
                ]

            	
              less
                than $100 million, and the undersigned is an investment company registered
                under the Investment Company Act of 1940, which, together with one
                or more
                registered investment companies having the same or an affiliated
                investment adviser, owns at least $100 million of eligible securities;
                or

               

            
	
              e.

            	
              [
                ]

            	
              less
                than $100 million, and the undersigned is an entity, all the equity
                owners
                of which are qualified institutional buyers.

               

            

    

    The
      undersigned further certifies that it is purchasing a Privately Offered
      Certificate for its own account or for the account of others that independently
      qualify as “Qualified Institutional Buyers” as defined in Rule 144A. It is aware
      that the sale of the Privately Offered Certificates is being made in reliance
      on
      its continued compliance with Rule 144A. It is aware that the transferor may
      rely on the exemption from the provisions of Section 5 of the Act provided
      by
      Rule 144A. The undersigned understands that the Privately Offered Certificates
      may be resold, pledged or transferred only to (i) a person reasonably believed
      to be a Qualified Institutional Buyer that purchases for its own account or
      for
      the account of a Qualified Institutional Buyer to whom notice is given that
      the
      resale, pledge or transfer is being made in reliance in Rule 144A, or (ii)
      an
      institutional “accredited investor,” as such term is defined under Rule 501 of
      the Act in a transaction that otherwise does not constitute a public
      offering.

     

    The
      undersigned agrees that if at some future time it wishes to dispose of or
      exchange any of the Privately Offered Certificates, it will not transfer or
      exchange any of the Privately Offered Certificates to a Qualified Institutional
      Buyer without first obtaining a Rule 144A and Related Matters Certificate in
      the
      form hereof from the transferee and delivering such certificate to the
      addressees hereof. Prior to making any transfer of Privately Offered
      Certificates, if the proposed Transferee is an institutional “accredited
      investor,” the transferor shall obtain from the transferee and deliver to the
      addressees hereof an Investment Letter in the form attached to the Pooling
      and
      Servicing Agreement, dated as of May 1, 2006, among Structured Asset Mortgage
      Investments II Inc., Wells Fargo Bank, N.A., EMC Mortgage Corporation and U.S.
      Bank National Association, as Trustee, pursuant to Certificates were
      issued.

     

    The
      undersigned certifies that it either: (i) is not acquiring the Privately Offered
      Certificate directly or indirectly by, or on behalf of, an employee benefit
      plan
      or other retirement arrangement which is subject to Title I of the Employee
      Retirement Income Security Act of 1974, as amended, or section 4975 of the
      Internal Revenue Code of 1986, as amended, or (ii) is providing a representation
      or an opinion of counsel to the effect that the proposed transfer and holding
      of
      a Privately Offered Certificate and the servicing, management and operation
      of
      the Trust and its assets: (I) will not result in any prohibited transaction
      which is not covered under a prohibited transaction exemption, including, but
      not limited to, Prohibited Transaction Exemption (“PTE”) 84-14, PTE 91-38, PTE
      90-1, PTE 95-60, PTE 96-23 and (II) will not give rise to any additional
      obligations on the part of the Depositor, the Master Servicer, the Securities
      Administrator or the Trustee or (iii) has attached hereto the opinion specified
      in Section 5.07 of the Agreement.

     

    If
      the
      Purchaser proposes that its Certificates be registered in the name of a nominee
      on its behalf, the Purchaser has identified such nominee below, and has caused
      such nominee to complete the Nominee Acknowledgment at the end of this
      letter.

    
      

        

        
          1 A
            purchase by an insurance company for one or more of its separate accounts,
            as
            defined by Section 2(a)(37) of the Investment Company Act of 1940, which
            are
            neither registered nor required to be registered thereunder, shall be
            deemed to
            be a purchase for the account of such insurance company.

        

      

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    Name
      of
      Nominee (if any):

     

    IN
      WITNESS WHEREOF, this document has been executed by the undersigned who is
      duly
      authorized to do so on behalf of the undersigned Eligible Purchaser on the
      ____
      day of ___________, 20___.

     

    
      	 	 	 	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [PURCHASER]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    NOMINEE
      ACKNOWLEDGMENT

     

    The
      undersigned hereby acknowledges and agrees that as to the Certificates being
      registered in its name, the sole beneficial owner thereof is and shall be the
      Purchaser identified above, for whom the undersigned is acting as
      nominee.

     

    
      	 	 	 	 	 	 	 	
              [NAME
                OF NOMINEE]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      G

     

    FORM
      OF
      CUSTODIAL AGREEMENT

     

    THIS
      CUSTODIAL AGREEMENT (as amended and supplemented from time to time, the
“Agreement’), dated as of May 31, 2006, by and among U.S. BANK NATIONAL
      ASSOCIATION, not individually but solely as trustee under the Pooling and
      Servicing Agreement defined below (including its successors under the Pooling
      and Servicing Agreement defined below, the “Trustee”), STRUCTURED ASSET MORTGAGE
      INVESTMENTS II INC., as depositor (together with any successor in interest,
      the
“Depositor”), WELLS FARGO BANK, N.A., as master servicer and securities
      administrator (together with any successor in interest or successor under the
      Pooling and Servicing Agreement referred to below, the “Master Servicer”) and
      WELLS FARGO BANK, N.A., as custodian (together with any successor in interest
      or
      any successor appointed hereunder, the “Custodian”).

     

    WITNESSETH
      THAT:

     

    WHEREAS,
      the Depositor, the Master Servicer, the Trustee and EMC Mortgage Corporation
      (the “Seller”) have entered into a Pooling and Servicing Agreement, dated as of
      May 1, 2006, relating to the issuance of Bear Stearns ARM Trust 2006-2, Mortgage
      Pass-Through Certificates, Series 2006-2 (as in effect on the date of this
      agreement, the “Original Pooling and Servicing Agreement,” and as amended and
      supplemented from time to time, the “Pooling and Servicing Agreement’);
      and

     

    WHEREAS,
      the Custodian has agreed to act as agent for the Trustee for the purposes of
      receiving and holding certain documents and other instruments delivered by
      the
      Depositor or the Master Servicer under the Pooling and Servicing Agreement
      and
      the Servicers under their respective Servicing Agreements, all upon the terms
      and conditions and subject to the limitations hereinafter set
      forth;

     

    NOW,
      THEREFORE, in consideration of the premises and the mutual covenants and
      agreements hereinafter set forth, the Trustee, the Depositor, the Master
      Servicer and the Custodian hereby agree as follows:

     

    ARTICLE
      I.

    DEFINITIONS

     

    Capitalized
      terms used in this Agreement and not defined herein shall have the meanings
      assigned in the Original Pooling and Servicing Agreement, unless otherwise
      required by the context herein.

     

    ARTICLE
      II.

    CUSTODY
      OF MORTGAGE DOCUMENTS

     

    Section
      2.1  Custodian
      to Act as Agent: Acceptance of Mortgage Files.
      The
      Custodian, as the duly appointed custodial agent of the Trustee for these
      purposes, acknowledges (subject to any exceptions noted in the Initial
      Certification referred to in Section 2.3(a)), receipt of the Mortgage Files
      relating to the Mortgage Loans identified on the schedule attached hereto (the
      “Mortgage Files”) and declares that it holds and will hold such Mortgage Files
      as agent for the Trustee, in trust, for the use and benefit of all present
      and
      future Certificateholders.

     

    Section
      2.2  Recordation
      of Assignments.
      If any
      Mortgage File includes one or more assignments of Mortgage to the Trustee in
      a
      state which is specifically excluded from the Opinion of Counsel delivered
      by
      the Seller to the Trustee and the Custodian pursuant to the provisions of
      Section 2.01 of the Pooling and Servicing Agreement, each such assignment shall
      be delivered by the Custodian to the Depositor for the purpose of recording
      it
      in the appropriate public office for real property records, and the Depositor,
      at no expense to the Custodian, shall promptly cause to be recorded in the
      appropriate public office for real property records each such assignment of
      Mortgage and, upon receipt thereof from such public office, shall return each
      such assignment of Mortgage to the Custodian.

     

    Section
      2.3  Review
      of Mortgage Files.

     

    (a)  On
      or
      prior to the Closing Date, in accordance with Section 2.02 of the Pooling and
      Servicing Agreement, the Custodian shall deliver to the Trustee an Initial
      Certification in the form annexed hereto as Exhibit One evidencing receipt
      (subject to any exceptions noted therein) of a Mortgage File for each of the
      Mortgage Loans listed on the Schedule attached hereto (the “Mortgage Loan
      Schedule”).

     

    (b)  Within
      90
      days of the Closing Date, the Custodian agrees, for the benefit of
      Certificateholders, to review, in accordance with the provisions of Section
      2.02
      of the Pooling and Servicing Agreement, each such document, and shall deliver
      to
      the Depositor and the Trustee an Interim Certification in the form annexed
      hereto as Exhibit Two to the effect that all such documents have been executed
      and received and that such documents relate to the Mortgage Loans identified
      on
      the Mortgage Loan Schedule, except for any exceptions listed on Schedule A
      attached to such Interim Certification. The Custodian shall be under no duty
      or
      obligation to inspect, review or examine said documents, instruments,
      certificates or other papers to determine that the same are genuine,
      enforceable, or appropriate for the represented purpose or that they have
      actually been recorded or that they are other than what they purport to be
      on
      their face.

     

    (c)  Not
      later
      than 180 days after the Closing Date, the Custodian shall review the Mortgage
      Files as provided in Section 2.02 of the Pooling and Servicing Agreement and
      deliver to the Depositor and the Trustee a Final Certification in the form
      annexed hereto as Exhibit Three evidencing the completeness of the Mortgage
      Files.

     

    (d)  In
      reviewing the Mortgage Files as provided herein and in the Pooling and Servicing
      Agreement, the Custodian shall make no representation as to and shall not be
      responsible to verify (i) the validity, legality, enforceability, due
      authorization, recordability, sufficiency or genuineness of any of the documents
      included in any Mortgage File or (ii) the collectibility, insurability,
      effectiveness or suitability of any of the documents in any Mortgage
      File.

     

    Upon
      receipt of written request from the Trustee, the Custodian shall as soon as
      practicable supply the Trustee with a list of all of the documents relating
      to
      the Mortgage Loans missing from the Mortgage Files.

     

    Section
      2.4  Notification
      of Breaches of Representations and Warranties.
      Upon
      discovery by the Custodian of a breach of any representation or warranty made
      by
      the Depositor as set forth in the Pooling and Servicing Agreement with respect
      to a Mortgage Loan relating to a Mortgage File, the Custodian shall give prompt
      written notice to the Depositor, the related Servicer and the
      Trustee.

     

    Section
      2.5  Custodian
      to Cooperate: Release of Mortgage Files.
      Upon
      receipt of written notice from the Trustee that the Seller has repurchased
      a
      Mortgage Loan pursuant to Article II of the Pooling and Servicing Agreement,
      and
      that the purchase price therefore has been deposited in the Distribution
      Account, then the Custodian agrees to promptly release to the Seller the related
      Mortgage File.

     

    Upon
      the
      Custodian’s receipt of a request for release (a “Request for Release”)
      substantially in the form of Exhibit D to the Pooling and Servicing Agreement
      signed by a Servicing Officer of the related Servicer stating that it has
      received payment in full of a Mortgage Loan or that payment in full will be
      escrowed in a manner customary for such purposes, the Custodian agrees promptly
      to release to the related Servicer the related Mortgage File. The Depositor
      shall deliver to the Custodian and the Custodian agrees to accept the Mortgage
      Note and other documents constituting the Mortgage File with respect to any
      Substitute Mortgage Loan.

     

    From
      time
      to time as is appropriate for the servicing or foreclosure of any Mortgage
      Loan,
      including, for this purpose, collection under any Primary Insurance Policy,
      the
      related Servicer (or if the Servicer does not, the Master Servicer) shall
      deliver to the Custodian a Request for Release signed by a Servicing Officer
      requesting that possession of all of the Mortgage File be released to the
      related Servicer and certifying as to the reason for such release and that
      such
      release will not invalidate any insurance coverage provided in respect of the
      Mortgage Loan under any of the Insurance Policies. Upon receipt of the
      foregoing, the Custodian shall deliver the Mortgage File to the related
      Servicer. The related Servicer shall cause each Mortgage File or any document
      therein so released to be returned to the Custodian when the need therefore
      by
      the related Servicer no longer exists, unless (i) the Mortgage Loan has been
      liquidated and the Liquidation Proceeds relating to the Mortgage Loan have
      been
      deposited in the Distribution Account or (ii) the Mortgage File or such document
      has been delivered to an attorney, or to a public trustee or other public
      official as required by law, for purposes of initiating or pursuing legal action
      or other proceedings for the foreclosure of the Mortgaged Property either
      judicially or non-judicially, and the related Servicer has delivered to the
      Custodian a certificate of a Servicing Officer certifying as to the name and
      address of the Person to which such Mortgage File or such document was delivered
      and the purpose or purposes of such delivery.

     

    At
      any
      time that a Servicer is required to deliver to the Custodian a Request for
      Release, the Servicer shall deliver two copies of the Request for Release if
      delivered in hard copy or the Servicer may furnish such Request for Release
      electronically to the Custodian, in which event the Servicing Officer
      transmitting the same shall be deemed to have signed the Request for Release.
      In
      connection with any Request for Release of a Mortgage File because of a
      repurchase of a Mortgage Loan, such Request for Release shall be followed by
      an
      assignment of mortgage, without recourse, representation or warranty from the
      Trustee to the Seller and the related Mortgage Note shall be endorsed without
      recourse by the Trustee and be returned to the Seller; provided, however, that
      in the case of a Mortgage Loan that is registered on the MERS System, no
      assignment of mortgage or endorsement of the Mortgage Note by the Trustee shall
      be required. In connection with any Request for Release of a Mortgage File
      because of the payment in full of a Mortgage Loan, such Request for Release
      shall be accompanied by a certificate of satisfaction or other similar
      instrument to be executed by or on behalf of the Trustee and returned to the
      related Servicer.

     

    Section
      2.6  Assumption
      Agreements.
      In the
      event that any assumption agreement, substitution of liability agreement or
      sale
      of servicing agreement is entered into with respect to any Mortgage Loan subject
      to this Agreement in accordance with the terms and provisions of the Pooling
      and
      Servicing Agreement, the Master Servicer, to the extent provided in the related
      Servicing Agreement, shall cause the related Servicer to notify the Custodian
      that such assumption or substitution agreement has been completed by forwarding
      to the Custodian the original of such assumption or substitution agreement,
      which shall be added to the related Mortgage File and, for all purposes, shall
      be considered a part of such Mortgage File to the same extent as all other
      documents and instruments constituting parts thereof.

     

    ARTICLE
      III.

    CONCERNING
      THE CUSTODIAN

     

    Section
      3.1  Custodian
      as Bailee and Agent of the Trustee.
      With
      respect to each Mortgage Note, Mortgage and other documents constituting each
      Mortgage File which are delivered to the Custodian, the Custodian is exclusively
      the bailee and custodial agent of the Trustee and has no instructions to hold
      any Mortgage Note or Mortgage for the benefit of any person other than the
      Trustee and the Certificateholders and undertakes to perform such duties and
      only such duties as are specifically set forth in this Agreement and in the
      Pooling and Servicing Agreement. Except upon compliance with the provisions
      of
      Section 2.5 of this Agreement, no Mortgage Note, Mortgage or Mortgage File
      shall
      be delivered by the Custodian to the Depositor, the Servicers or the Master
      Servicer or otherwise released from the possession of the
      Custodian.

     

    Section
      3.2  Reserved.

     

    Section
      3.3  Custodian
      May Own Certificates.
      The
      Custodian in its individual or any other capacity may become the owner or
      pledgee of Certificates with the same rights it would have if it were not
      Custodian.

     

    Section
      3.4  Master
      Servicer to Pay Custodian’s Fees and Expenses.
      The
      Master Servicer covenants and agrees to pay to the Custodian from time to time,
      and the Custodian shall be entitled to, reasonable compensation for all services
      rendered by it in the exercise and performance of any of the powers and duties
      hereunder of the Custodian, and the Master Servicer will pay or reimburse the
      Custodian upon its request for all reasonable expenses, disbursements and
      advances incurred or made by the Custodian in accordance with any of the
      provisions of this Agreement (including the reasonable compensation and the
      expenses and disbursements of its counsel and of all persons not regularly
      in
      its employ), except any such expense, disbursement or advance as may arise
      from
      its negligence or bad faith or to the extent that such cost or expense is
      indemnified by the Depositor pursuant to the Pooling and Servicing
      Agreement.

     

    Section
      3.5  Custodian
      May Resign Trustee May Remove Custodian.
      The
      Custodian may resign from the obligations and duties hereby imposed upon it
      as
      such obligations and duties relate to its acting as Custodian of the Mortgage
      Loans. Upon receiving such written notice of resignation, the Trustee shall
      either take custody of the Mortgage Files itself and give prompt written notice
      thereof to the Depositor, the Master Servicer and the Custodian, or promptly
      appoint a successor Custodian by written instrument, in duplicate, one copy
      of
      which instrument shall be delivered to the resigning Custodian and one copy
      to
      the successor Custodian. If the Trustee shall not have taken custody of the
      Mortgage Files and no successor Custodian shall have been so appointed and
      have
      accepted appointment within 30 days after the giving of such written notice
      of
      resignation, the resigning Custodian may petition any court of competent
      jurisdiction for the appointment of a successor Custodian.

     

    The
      Trustee may remove the Custodian at any time with the consent of the Master
      Servicer. In such event, the Trustee shall appoint, or petition a court of
      competent jurisdiction to appoint, a successor Custodian hereunder. Any
      successor Custodian shall be a depository institution subject to supervision
      or
      examination by federal or state authority, shall be able to satisfy the other
      requirements contained in Section 3.7 and shall be unaffiliated with the
      Servicer or the Depositor.

     

    Any
      resignation or removal of the Custodian and appointment of a successor Custodian
      pursuant to any of the provisions of this Section 3.5 shall become effective
      upon acceptance of appointment by the successor Custodian. The Trustee shall
      give prompt notice to the Depositor and the Master Servicer of the appointment
      of any successor Custodian. No successor Custodian shall be appointed by the
      Trustee without the prior approval of the Depositor and the Master
      Servicer.

     

    Section
      3.6  Merger
      or Consolidation of Custodian.
      Any
      Person into which the Custodian may be merged or converted or with which it
      may
      be consolidated, or any Person resulting from any merger, conversion or
      consolidation to which the Custodian shall be a party, or any Person succeeding
      to the business of the Custodian, shall be the successor of the Custodian
      hereunder, without the execution or filing of any paper or any further act
      on
      the part of any of the parties hereto, anything herein to the contrary
      notwithstanding.

     

    Section
      3.7  Representations
      of the Custodian.
      The
      Custodian hereby represents that it is a depository institution subject to
      supervision or examination by a federal or state authority, has a combined
      capital and surplus of at least $15,000,000 and is qualified to do business
      in
      the jurisdictions in which it will hold any Mortgage File.

     

    ARTICLE
      IV.

    COMPLIANCE
      WITH REGULATION AB

     

    Section
      4.1  Intent
      of the parties; Reasonableness.
      The
      parties hereto acknowledge and agree that the purpose of this Article IV is
      to
      facilitate compliance by the Depositor with the provisions of Regulation AB
      and
      related rules and regulations of the Commission. The Depositor shall not
      exercise its right to request delivery of information or other performance
      under
      these provisions other than in good faith, or for purposes other than compliance
      with the Securities Act, the Exchange Act and the rules and regulations of
      the
      Commission under the Securities Act and the Exchange Act. Each of the parties
      hereto acknowledges that interpretations of the requirements of Regulation
      AB
      may change over time, whether due to interpretive guidance provided by the
      Commission or its staff, consensus among participants in the mortgage-backed
      securities markets, advice of counsel, or otherwise, and agrees to comply with
      requests made by the Depositor in good faith for delivery of information under
      these provisions on the basis of evolving interpretations of Regulation AB
      to
      the extent reasonably practicable. The Custodian shall cooperate reasonably
      with
      the Depositor to deliver to the Depositor (including any of its assignees or
      designees), any and all disclosure, statements, reports, certifications, records
      and any other information necessary in the reasonable, good faith determination
      of the Depositor to permit the Depositor to comply with the provisions of
      Regulation AB.

     

    Section
      4.2  Additional
      Representations and Warranties of the Custodian.

     

    (a)  The
      Custodian hereby represents and warrants that the information set forth in
      the
      Prospectus Supplement under the caption "Pooling and Servicing Agreement -
      The
      Custodian" (the "Custodian Disclosure") does not contain any untrue statement
      of
      a material fact or omit to state a material fact required to be stated therein
      or necessary in order to make the statements therein, in the light of the
      circumstances under which they were made, not misleading.

     

    (b)  The
      Custodian shall be deemed to represent to the Depositor as of the date hereof
      and on each date on which information is provided to the Depositor under Section
      4.3 that, except as disclosed in writing to the Depositor prior to such date:
      (i) there are no aspects of its financial condition that could have a material
      adverse effect on the performance by it of its Custodian obligations under
      this
      Agreement or any other Securitization Transaction as to which it is the
      custodian; (ii) there are no material legal or governmental proceedings pending
      (or known to be contemplated) against it; and (iii) there are no affiliations,
      relationships or transactions relating to the Custodian with respect to the
      Depositor or any sponsor, issuing entity, servicer, trustee, originator,
      significant obligor, enhancement or support provider or other material
      transaction party (as such terms are used in Regulation AB) relating to the
      Securitization Transaction contemplated by the Agreement, as identified by
      the
      Depositor to the Custodian in writing as of the Closing Date (each, a
      "Transaction Party").

     

    (c)  If
      so
      requested by the Depositor on any date following the Closing Date, the Custodian
      shall, within five Business Days following such request, confirm in writing
      the
      accuracy of the representations and warranties set forth in paragraph (a) of
      this Section or, if any such representation and warranty is not accurate as
      of
      the date of such confirmation, provide reasonably adequate disclosure of the
      pertinent facts, in writing, to the requesting party. Any such request from
      the
      Depositor shall not be given more than once each calendar quarter, unless the
      Depositor shall have a reasonable basis for a determination that any of the
      representations and warranties may not be accurate.

     

    Section
      4.3  Additional
      Information to Be Provided by the Custodian.
      For so
      long as the Certificates are outstanding, for the purpose of satisfying the
      Depositor 's reporting obligation under the Exchange Act with respect to any
      class of Certificates, the Custodian shall (a) notify the Depositor in writing
      of any material litigation or governmental proceedings pending against the
      Custodian that would be material to Certificateholders, and (b) provide to
      the
      Depositor a written description of such proceedings. Any notices and
      descriptions required under this Section 4.3 shall be given no later than five
      Business Days prior to the Determination Date following the month in which
      the
      Custodian has knowledge of the occurrence of the relevant event. As of the
      date
      the Depositor or Master Servicer files each Report on Form 10-D or Form 10-K
      with respect to the Certificates, the Custodian will be deemed to represent
      that
      any information previously provided under this Section 4.3, if any, is
      materially correct and does not have any material omissions unless the Custodian
      has provided an update to such information.

     

    Section
      4.4  Report
      on Assessment of Compliance and Attestation.
      On or
      before March 15 of each calendar year, the Custodian shall:

     

    (a)  deliver
      to the Depositor a report (in form and substance reasonably satisfactory to
      the
      Depositor) regarding the Custodian’s assessment of compliance with the Servicing
      Criteria during the immediately preceding calendar year, as required under
      Rules
      13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such
      report shall be addressed to the Depositor and signed by an authorized officer
      of the Custodian, and shall address each of the Servicing Criteria specified
      on
      a certification substantially in the form of Exhibit Four attached hereto;
      and

     

    (b)  deliver
      to the Depositor a report of a registered public accounting firm reasonably
      acceptable to the Depositor that attests to, and reports on, the assessment
      of
      compliance made by the Custodian and delivered pursuant to the preceding
      paragraph. Such attestation shall be in accordance with Rules 1-02(a)(3) and
      2-02(g) of Regulation S-X under the Securities Act and the Exchange
      Act.

     

    Section
      4.5  Indemnification;
      Remedies.

     

    (a)  The
      Custodian shall indemnify the Depositor, each affiliate of the Depositor, EMC
      and each broker dealer acting as underwriter, placement agent or initial
      purchaser of the Certificates or each Person who controls any of such parties
      (within the meaning of Section 15 of the Securities Act and Section 20 of the
      Exchange Act); and the respective present and former directors, officers,
      employees and agents of each of the foregoing, and shall hold each of them
      harmless from and against any losses, damages, penalties, fines, forfeitures,
      legal fees and expenses and related costs, judgments, and any other costs,
      fees
      and expenses that any of them may sustain arising out of or based upon:

     

    (i)
      (A)
      any untrue statement of a material fact contained or alleged to be contained
      in
      any information, report, certification, accountants’ attestation or other
      material provided under this Article IV by or on behalf of the Custodian
      (collectively, the “Custodian Information”), or (B) the omission or alleged
      omission to state in the Custodian Information a material fact required to
      be
      stated in the Custodian Information or necessary in order to make the statements
      therein, in the light of the circumstances under which they were made, not
      misleading; or

     

    (ii)
      any
      failure by the Custodian to deliver any information, report, certification,
      accountants’ attestation or other material when and as required under this
      Article IV; or

     

    (iii)
      the
      negligence, bad faith or willful misconduct of the Custodian in the performance
      of its obligations under this Article IV.

    

    In
      the
      case of any failure of performance described in clause (ii) above, the Custodian
      shall promptly reimburse the Depositor, the Master Servicer and the Securities
      Administrator for all costs reasonably incurred by any of such Persons in order
      to obtain the information, report, certification, accountants’ letter or other
      material not delivered as required by the Custodian.

    

    In
      no
      event shall the Custodian or its directors, officers, and employees be liable
      for any special, indirect or consequential damages from any action taken or
      omitted to be taken by it or them hereunder or in connection herewith even
      if
      advised of the possibility of such damages.

    

    This
      indemnification shall survive the termination of this Agreement or the
      termination of the Custodian.

    

     

    ARTICLE
      V.

    MISCELLANEOUS
      PROVISIONS

     

    Section
      5.1  Notices.
      All
      notices, requests, consents and demands and other communications required under
      this Agreement or pursuant to any other instrument or document delivered
      hereunder shall be in writing and, unless otherwise specifically provided,
      may
      be delivered personally, by telegram or telex, or by registered or certified
      mail, postage prepaid, return receipt requested, at the addresses specified
      on
      the signature page hereof (unless changed by the particular party whose address
      is stated herein by similar notice in writing), in which case the notice will
      be
      deemed delivered when received.

     

    Section
      5.2  Amendments.
      No
      modification or amendment of or supplement to this Agreement shall be valid
      or
      effective unless the same is in writing and signed by all parties hereto, and
      neither the Depositor, the Master Servicer nor the Trustee shall enter into
      any
      amendment hereof except as permitted by the Pooling and Servicing Agreement.
      The
      Trustee shall give prompt notice to the Custodian of any amendment or supplement
      to the Pooling and Servicing Agreement and furnish the Custodian with written
      copies thereof.

     

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

     

    Section
      5.4  Recordation
      of Agreement.
      To the
      extent permitted by applicable law, this Agreement is subject to recordation
      in
      all appropriate public offices for real property records in all the counties
      or
      other comparable jurisdictions in which any or all of the properties subject
      to
      the Mortgages are situated, and in any other appropriate public recording office
      or elsewhere, such recordation to be effected by the Depositor and at the
      Trust’s expense, but only upon direction accompanied by an Opinion of Counsel
      reasonably satisfactory to the Depositor to the effect that the failure to
      effect such recordation is likely to materially and adversely affect the
      interests of the Certificateholders.

     

    For
      the
      purpose of facilitating the recordation of this Agreement as herein provided
      and
      for other purposes, this Agreement may be executed simultaneously in any number
      of counterparts, each of which counterparts shall be deemed to be an original,
      and such counterparts shall constitute but one and the same
      instrument.

     

    Section
      5.5  Severability
      of Provisions.
      If any
      one or more of the covenants, agreements, provisions or terms of this Agreement
      shall be for any reason whatsoever held invalid, then such covenants,
      agreements, provisions or terms shall be deemed severable from the remaining
      covenants, agreements, provisions or terms of this Agreement and shall in no
      way
      affect the validity or enforceability of the other provisions of this Agreement
      or of the Certificates or the rights of the holders thereof.

     

    IN
      WITNESS WHEREOF, this Agreement is executed as of the date first above
      written.

     

    
      	
              Address:

               

              One
                Federal Street

              3rd
                Floor

              Boston,
                Massachusetts 02110

               

              Attention:

              Telecopy:

              Confirmation:

            	
              U.S.
                BANK NATIONAL ASSOCIATION, not individually but solely as
                Trustee

               

               

              By:
                ________________________________

              Name: Karen
                R. Beard

              Title:
                Vice President

            
	
              Address:

               

              383
                Madison Avenue

              New
                York, New York 10179

            	
              STRUCTURED
                ASSET MORTGAGE INVESTMENTS II INC.

               

               

              By:
                ________________________________

              Name: 
                Baron Silverstein

              Title: 
                Vice President

               

            
	
              Address:

               

              9062
                Old Annapolis Road

              Columbia,
                Maryland 21045

            	
              WELLS
                FARGO BANK, N.A., 

              as
                Master Servicer

               

               

              By:
                ________________________________

              Name: Stacey
                M. Taylor

              Title: Vice
                President

               

            
	
              Address:

               

              1015
                Tenth Avenue SE

              Minneapolis,
                Minnesota 55414

            	
              WELLS
                FARGO BANK, N.A.,

              as
                Custodian

               

              By:
                ________________________________

              Name: 

              Title: 

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              STATE
                OF MASSACHUSETTS

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF SUFFOLK

            	
              )

            	 

    

    

    On
      the
      31st
      day of
      May 2006 before me, a notary public in and for said State, personally appeared
      ___________, known to me to be a _____________ of U.S. Bank National
      Association, a national banking association that executed the within instrument,
      and also known to me to be the person who executed it on behalf of said
      corporation and acknowledged to me that such corporation executed the within
      instrument.

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    

    [SEAL]

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    
      	
              STATE
                OF MARYLAND

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF HOWARD

            	
              )

            	 

    

    

    On
      the
      31st day of May 2006 before me, a notary public in and for said State,
      personally appeared _____________, known to me to be a ______________ of Wells
      Fargo Bank, N.A., a national banking association that executed the within
      instrument, and also known to me to be the person who executed it on behalf
      of
      said national banking association, and acknowledged to me that such national
      banking association executed the within instrument.

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    [SEAL]

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    
      	
              STATE
                OF NEW YORK

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF NEW YORK

            	
              )

            	 

    

    

    On
      the
      31st
      day of
      May 2006 before me, a notary public in and for said State, personally appeared
      ___________________________ known to me to be a ____________________ of
      Structured Asset Mortgage Investments II Inc., one of the corporations that
      executed the within instrument, and also known to me to be the person who
      executed it on behalf of said corporation, and acknowledged to me that such
      corporation executed the within instrument.

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    [Notarial
      Seal]

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    
      	
              STATE
                OF MARYLAND

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF HOWARD

            	
              )

            	 

    

    

    On
      the
      31st
      day of
      May 2006 before me, a notary public in and for said State, personally appeared
      ____________, known to me to be a _____________ of Wells Fargo Bank, N.A.,
      one
      of the corporations that executed the within instrument, and also known to
      me to
      be the person who executed it on behalf of said corporation, and acknowledged
      to
      me that such corporation executed the within instrument.

     

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

     

    
      	 	 
	 	
              Notary
                Public

            

    

    

    [Notarial
      Seal]

     

    

     

    

     

    

     

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      ONE

    FORM
      OF
      CUSTODIAN INITIAL CERTIFICATION

     

    May
      31,
      2006

     

    
      	
              U.S.
                Bank National Association

              One
                Federal Street, 3rd
                Floor

              Boston,
                Massachusetts 02110

            	
              Structured
                Asset Mortgage Investments II Inc.

              383
                Madison Avenue 

              New
                York, New York 10179

            

    

    

    Attention:
      Structured Asset Mortgage Investments II Inc.

     

    Bear
      Stearns ARM Trust 2006-2, Mortgage Pass-Through Certificates, Series
      2006-2

     

    
      	
              Re:

            	
              Custodial
                Agreement, dated as of May 31, 2006, by and among U.S. Bank National
                Association, Structured Asset Mortgage Investments II Inc. and Wells
                Fargo
                Bank, N.A. relating to Bear Stearns ARM Trust 2006-2, Mortgage
                Pass-Through Certificates, Series
                2006-2 

            

    

    

     

    Ladies
      and Gentlemen:

     

    In
      accordance with Section 2.3(a) of the above-captioned Custodial Agreement and,
      subject to Section 2.02(a) of the Pooling and Servicing Agreement, the
      undersigned, as Custodian, hereby certifies that it has received a Mortgage
      File
      (which contains an original Mortgage Note or lost note affidavit) to the extent
      required in Section 2.01 of the Pooling and Servicing Agreement with respect
      to
      each Mortgage Loan listed in the Mortgage Loan Schedule, with any exceptions
      listed on Schedule A attached hereto.

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the above-captioned Custodial Agreement.

     

    
      	 	 	 	 	 	 	 	
              WELLS
                FARGO BANK, N.A.

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

    

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      TWO

    FORM
      OF
      CUSTODIAN INTERIM CERTIFICATION

     

    ___________,
      20__

     

    
      	
              U.S.
                Bank National Association

              One
                Federal Street, 3rd
                Floor

              Boston,
                Massachusetts 02110

            	
              Structured
                Asset Mortgage Investments II Inc.

              383
                Madison Avenue 

              New
                York, New York 10179

            

    

    

    Attention:
      Structured Asset Mortgage Investments II Inc.

    Bear
      Stearns ARM Trust 2006-2, Mortgage Pass-Through Certificates, Series
      2006-2

    

    
      	
              Re:

            	
              Custodial
                Agreement, dated as of May 31, 2006, by and among U.S. Bank National
                Association, Structured Asset Mortgage Investments II Inc. and Wells
                Fargo
                Bank, N.A. relating to Bear Stearns ARM Trust 2006-2, Mortgage
                Pass-Through Certificates, Series
                2006-2

            

    

    

     

    Ladies
      and Gentlemen:

     

    In
      accordance with Section 2.3(b) of the above-captioned Custodial Agreement and,
      subject to Section 2.02(a) of the Pooling and Servicing Agreement, the
      undersigned, as Custodian, hereby certifies that it has received a Mortgage
      File
      to the extent required pursuant to Section 2.01 of the Pooling and Servicing
      Agreement with respect to each Mortgage Loan listed in the Mortgage Loan
      Schedule, and it has reviewed the Mortgage File and the Mortgage Loan Schedule
      and has determined that: all required documents have been executed and received
      and that such documents relate to the Mortgage Loans identified on the Mortgage
      Loan Schedule, with any exceptions listed on Schedule A attached
      hereto.

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the above-captioned Custodial Agreement.

     

    
      	 	 	 	 	 	 	 	
              WELLS
                FARGO BANK, N.A.

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      THREE

    FORM
      OF
      CUSTODIAN FINAL CERTIFICATION

     

    _______,
      20__

     

    
      	
              U.S.
                Bank National Association

              One
                Federal Street, 3rd
                Floor

              Boston,
                Massachusetts 02110

            	
              Structured
                Asset Mortgage Investments II Inc.

              383
                Madison Avenue 

              New
                York, New York 10179

            

    

    

    Attention:
      Structured Asset Mortgage Investments II Inc.

    Bear
      Stearns ARM Trust 2006-2, Mortgage Pass-Through Certificates, Series
      2006-2

    

    
      	
              Re:

            	
              Custodial
                Agreement, dated as of May 31, 2006, by and among U.S. Bank National
                Association, Structured Asset Mortgage Investments II Inc. and Wells
                Fargo
                Bank , National Association relating to Bear Stearns ARM Trust 2006-2,
                Mortgage Pass-Through Certificates, Series
                2006-2

            

    

    

     

    Ladies
      and Gentlemen:

     

    In
      accordance with Section 2.3(c) of the above-captioned Custodial Agreement and,
      subject to Section 2.02(b) of the Pooling and Servicing Agreement, the
      undersigned, as Custodian, hereby certifies that it has received a Mortgage
      File
      to the extent required pursuant to Section 2.01 of the Pooling and Servicing
      Agreement with respect to each Mortgage Loan listed in the Mortgage Loan
      Schedule, and it has reviewed the Mortgage File and the Mortgage Loan Schedule
      and has determined that: all required documents have been executed and received
      and that such documents relate to the Mortgage Loans identified on the Mortgage
      Loan Schedule, with any exceptions listed on Schedule A attached
      hereto.

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the above-captioned Custodial Agreement or in the Pooling and Servicing
      Agreement, as applicable.

     

    
      	 	 	 	 	 	 	 	
              WELLS
                FARGO BANK, N.A.

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Name:

            
	 	 	 	 	 	 	 	 	
              Title:

            

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      H-1

     

    ARTICLES
      IV, V AND VI OF THE 

    COUNTRYWIDE
      HOME LOANS SERVICING LP SERVICING AGREEMENT

     

    
       

       

      
        

        

      

      
 

       

      EMC
        Mortgage Corporation,

       

                                                                      
        Purchaser

       

      and

       

      

       

      Countrywide
        Home Loans, Inc.,

       

                                                                       Company

       

       

        
          

        

      

      SELLER’S
        WARRANTIES AND SERVICING AGREEMENT

       

      
        Dated
          as
          of September 1, 2002

      

      
        
          

        

      

       

      Residential
        Adjustable Rate Mortgage Loans

       

       

       

      
        

        

      

       

      TABLE
        OF
        CONTENTS

       

      ARTICLE
        I

       

      DEFINITIONS

       

      ARTICLE
        II

       

      CONVEYANCE
        OF MORTGAGE LOANS; POSSESSION OF MORTGAGE FILES;

      BOOKS
        AND
        RECORDS; DELIVERY OF DOCUMENTS

       

      
        	
                Section
                  2.01

              	
                Conveyance
                  of Mortgage Loans; Possession of Mortgage Files; Maintenance of
                  Servicing
                  Files.

              
	
                Section
                  2.02

              	
                Books
                  and Records; Transfers of Mortgage Loans.

              
	
                Section
                  2.03

              	
                Delivery
                  of Documents.

              
	 	 
	
                ARTICLE
                  III

              
	
                REPRESENTATIONS
                  AND WARRANTIES;

              
	
                REMEDIES
                  AND BREACH

              
	 	 
	
                Section
                  3.01

              	
                Company
                  Representations and Warranties.

              
	
                Section
                  3.02

              	
                Representations
                  and Warranties Regarding Individual Mortgage Loans.

              
	
                Section
                  3.03

              	
                Remedies
                  for Breach of Representations and Warranties.

              
	
                Section
                  3.04

              	
                Indemnification.

              
	
                Section
                  3.05

              	
                Repurchase
                  Upon Conversion.

              
	
                Section
                  3.06

              	
                Restrictions
                  and Requirements Applicable in the Event 
                  that
                    a Mortgage Loan is Acquired by a REMIC

                

              
	
                 

              	
                 

              
	
                Section
                  3.07

              	
                Review
                  of Mortgage Loans

              
	 	 
	
                ARTICLE
                  IV

              
	
                ADMINISTRATION
                  AND SERVICING OF MORTGAGE LOANS

              
	 	 
	
                Section
                  4.01

              	
                Company
                  to Act as Servicer.

              
	
                Section
                  4.02

              	
                Liquidation
                  of Mortgage Loans.

              
	
                Section
                  4.03

              	
                Collection
                  of Mortgage Loan Payments.

              
	
                Section
                  4.04

              	
                Establishment
                  of and Deposits to Custodial Account.

              
	
                Section
                  4.05

              	
                Permitted
                  Withdrawals From Custodial Account.

              
	
                Section
                  4.06

              	
                Establishment
                  of and Deposits to Escrow Account.

              
	
                Section
                  4.07

              	
                Permitted
                  Withdrawals From Escrow Account.

              
	
                Section
                  4.08

              	
                Payment
                  of Taxes, Insurance and Other Charges.

              
	
                Section
                  4.09

              	
                Protection
                  of Accounts.

              
	
                Section
                  4.10

              	
                Maintenance
                  of Hazard Insurance.

              
	
                Section
                  4.11

              	
                Maintenance
                  of Mortgage Impairment Insurance.

              
	
                Section
                  4.12

              	
                Maintenance
                  of Fidelity Bond and Errors and Omissions Insurance.

              
	
                Section
                  4.13

              	
                Inspections.

              
	
                Section
                  4.14

              	
                Restoration
                  of Mortgaged Property.

              
	
                Section
                  4.15

              	
                Maintenance
                  of PMI and LPMI Policy; Claims.

              
	
                Section
                  4.16

              	
                Title,
                  Management and Disposition of REO Property.

              
	
                Section
                  4.17

              	
                Real
                  Estate Owned Reports.

              
	
                Section
                  4.18

              	
                Liquidation
                  Reports.

              
	
                Section
                  4.19

              	
                Reports
                  of Foreclosures and Abandonments of Mortgaged Property.

              
	
                Section
                  4.20

              	
                Notification
                  of Adjustments.

              
	 	 
	
                ARTICLE
                  V

              
	
                PAYMENTS
                  TO PURCHASER

              
	 	 
	
                Section
                  5.01

              	
                Remittances.

              
	
                Section
                  5.02

              	
                Statements
                  to Purchaser.

              
	
                Section
                  5.03

              	
                Monthly
                  Advances by Company.

              
	 	 
	
                ARTICLE
                  VI

              
	
                GENERAL
                  SERVICING PROCEDURES

              
	 	 
	
                Section
                  6.01

              	
                Transfers
                  of Mortgaged Property.

              
	
                Section
                  6.02

              	
                Satisfaction
                  of Mortgages and Release of Mortgage Files.

              
	
                Section
                  6.03

              	
                Servicing
                  Compensation.

              
	
                Section
                  6.04

              	
                Annual
                  Statement as to Compliance.

              
	
                Section
                  6.05

              	
                Annual
                  Independent Public Accountants’ Servicing Report.

              
	
                Section
                  6.06

              	
                Right
                  to Examine Company Records.

              

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

      EXHIBITS

       

      
        	
                EXHIBIT
                  A

              	
                MORTGAGE
                  LOAN SCHEDULE

              
	
                EXHIBIT
                  B

              	
                CONTENTS
                  OF EACH MORTGAGE FILE

              
	
                EXHIBIT
                  C

              	
                MORTGAGE
                  LOAN DOCUMENTS

              
	
                EXHIBIT
                  D-1

              	
                FORM
                  OF CUSTODIAL ACCOUNT

              
	
                CERTIFICATION
                  

              	 
	
                EXHIBIT
                  D-2

              	
                FORM
                  OF CUSTODIAL ACCOUNT

              
	
                LETTER
                  AGREEMENT 

              	 
	
                EXHIBIT
                  E-1

              	
                FORM
                  OF ESCROW ACCOUNT CERTIFICATION 

              
	
                EXHIBIT
                  E-2

              	
                FORM
                  OF ESCROW ACCOUNT

              
	
                LETTER
                  AGREEMENT 

              	 
	
                EXHIBIT
                  F

              	
                FORM
                  OF MONTHLY REMITTANCE ADVICE 

              
	
                EXHIBIT
                  G

              	
                FORM
                  OF ASSIGNMENT AND ASSUMPTION

              
	
                EXHIBIT
                  H

              	
                UNDERWRITING
                  GUIDELINES

              

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

      This
        is a
        Seller’s Warranties and Servicing Agreement for residential adjustable rate
        first lien mortgage loans, dated and effective as of September 1, 2002, and
        is
        executed between EMC Mortgage Corporation, as purchaser (the “Purchaser”),
        and
        Countrywide Home Loans, Inc., as seller and servicer (the “Company”).

       

      W I T N E S S E T H:

       

      WHEREAS,
        from time to time the Purchaser has agreed to purchase from the Company and
        from
        time to time the Company has agreed to sell to the Purchaser certain Mortgage
        Loans (excluding the right to service the Mortgage Loans which the Company
        expressly retains);

       

      WHEREAS,
        each of the Mortgage Loans is secured by a mortgage, deed of trust or other
        security instrument creating a first lien on a residential dwelling located
        in
        the jurisdiction indicated on the related Mortgage Loan Schedule, which is
        annexed hereto as Exhibit
        A;
        

      WHEREAS,
        the Company has agreed to service, from time to time, certain of the Mortgage
        Loans acquired by the Purchaser in accordance with the terms and provisions
        of
        this Agreement; and

       

      WHEREAS,
        the Purchaser and the Company wish to prescribe the manner of purchase of
        the
        Mortgage Loans and the management, servicing and control of the Mortgage
        Loans
        which from time to time are subject to this Agreement.

       

       

      NOW,
        THEREFORE, in consideration of the mutual agreements hereinafter set forth,
        and
        for other good and valuable consideration, the receipt and adequacy of which
        is
        hereby acknowledged, the Purchaser and the Company agree as
        follows:

       

      ARTICLE
        IV

      
 

      ADMINISTRATION
        AND SERVICING OF MORTGAGE LOANS

       

      
        	 	
                Section
                  4.01

              	
                Company
                  to Act as Servicer.

              

      

       

      The
        Company shall service and administer the Mortgage Loans and shall have full
        power and authority, acting alone, to do any and all things in connection
        with
        such servicing and administration which the Company may deem necessary or
        desirable, consistent with the terms of this Agreement and with Accepted
        Servicing Practices.

       

      

      (a)  Consistent
        with the terms of this Agreement, the Company may waive, modify or vary any
        term
        of any Mortgage Loan or consent to the postponement of strict compliance
        with
        any such term or in any manner grant indulgence to any Mortgagor if in the
        Company’s reasonable and prudent determination such waiver, modification,
        postponement or indulgence is not materially adverse to the Purchasers,
        provided, however, that the Company shall not make any future advances with
        respect to a Mortgage Loan and (unless the Mortgagor is in default with respect
        to the Mortgage Loan or such default is, in the judgment of the Company,
        imminent and the Company has obtained the prior written consent of the
        Purchaser) the Company shall not permit any modification of any material
        term of
        any Mortgage Loan including any modifications that would change the Mortgage
        Interest Rate change the Index, Lifetime Mortgage Interest Rate Cap, Initial
        Rate Cap or Gross Margin of any Mortgage Loan, defer or forgive the payment
        of
        principal or interest, reduce or increase the outstanding principal balance
        (except for actual payments of principal) or change the final maturity date
        on
        such Mortgage Loan. In the event of any such modification which permits the
        deferral of interest or principal payments on any Mortgage Loan, the Company
        shall, on the Business Day immediately preceding the Remittance Date in any
        month in which any such principal or interest payment has been deferred,
        deposit
        in the Custodial Account from its own funds, in accordance with Section 5.03,
        the difference between (a) such month’s principal and one month’s interest at
        the Mortgage Loan Remittance Rate on the unpaid principal balance of such
        Mortgage Loan and (b) the amount paid by the Mortgagor. The Company shall
        be
        entitled to reimbursement for such advances to the same extent as for all
        other
        advances made pursuant to Section 5.03. Without limiting the generality of
        the
        foregoing, the Company shall continue, and is hereby authorized and empowered,
        to execute and deliver on behalf of itself and the Purchasers, all instruments
        of satisfaction or cancellation, or of partial or full release, discharge
        and
        all other comparable instruments, with respect to the Mortgage Loans and
        with
        respect to the Mortgaged Properties. If reasonably required by the Company,
        the
        Purchaser shall furnish the Company with any powers of attorney and other
        documents necessary or appropriate to enable the Company to carry out its
        servicing and administrative duties under this Agreement.

       

      In
        servicing and administering the Mortgage Loans, the Company shall employ
        procedures (including collection procedures) and exercise the same care that
        it
        customarily employs and exercises in servicing and administering mortgage
        loans
        for its own account, giving due consideration to Accepted Servicing Practices
        where such practices do not conflict with the requirements of this Agreement,
        and the Purchaser’s reliance on the Company.

       

      The
        Mortgage Loans may be subserviced by the Subservicer on behalf of the Company
        provided that the Subservicer is a Fannie Mae-approved lender or a Freddie
        Mac
        seller/servicer in good standing, and no event has occurred, including but
        not
        limited to a change in insurance coverage, which would make it unable to
        comply
        with the eligibility requirements for lenders imposed by Fannie Mae or for
        seller/servicers imposed by Freddie Mac, or which would require notification
        to
        Fannie Mae or Freddie Mac. The Company may perform any of its servicing
        responsibilities hereunder or may cause the Subservicer to perform any such
        servicing responsibilities on its behalf, but the use by the Company of the
        Subservicer shall not release the Company from any of its obligations hereunder
        and the Company shall remain responsible hereunder for all acts and omissions
        of
        the Subservicer as fully as if such acts and omissions were those of the
        Company. The Company shall pay all fees and expenses of the Subservicer from
        its
        own funds, and the Subservicer’s fee shall not exceed the Servicing
        Fee.

       

      At
        the
        cost and expense of the Company, without any right of reimbursement from
        the
        Custodial Account, the Company shall be entitled to terminate the rights
        and
        responsibilities of the Subservicer and arrange for any servicing
        responsibilities to be performed by a successor Subservicer meeting the
        requirements in the preceding paragraph, provided, however, that nothing
        contained herein shall be deemed to prevent or prohibit the Company, at the
        Company’s option, from electing to service the related Mortgage Loans itself. In
        the event that the Company’s responsibilities and duties under this Agreement
        are terminated pursuant to Section 9.04, 10.01 or 11.02, and if requested
        to do
        so by the Purchaser, the Company shall at its own cost and expense terminate
        the
        rights and responsibilities of the Subservicer as soon as is reasonably
        possible. The Company shall pay all fees, expenses or penalties necessary
        in
        order to terminate the rights and responsibilities of the Subservicer from
        the
        Company’s own funds without reimbursement from the Purchaser.

       

      Notwithstanding
        any of the provisions of this Agreement relating to agreements or arrangements
        between the Company and the Subservicer or any reference herein to actions
        taken
        through the Subservicer or otherwise, the Company shall not be relieved of
        its
        obligations to the Purchaser and shall be obligated to the same extent and
        under
        the same terms and conditions as if it alone were servicing and administering
        the Mortgage Loans. The Company shall be entitled to enter into an agreement
        with the Subservicer for indemnification of the Company by the Subservicer
        and
        nothing contained in this Agreement shall be deemed to limit or modify such
        indemnification.

       

      Any
        Subservicing Agreement and any other transactions or services relating to
        the
        Mortgage Loans involving the Subservicer shall be deemed to be between the
        Subservicer and Company alone, and the Purchaser shall have no obligations,
        duties or liabilities with respect to the Subservicer including no obligation,
        duty or liability of Purchaser to pay the Subservicer’s fees and expenses. For
        purposes of distributions and advances by the Company pursuant to this
        Agreement, the Company shall be deemed to have received a payment on a Mortgage
        Loan when the Subservicer has received such payment.

       

      
        	 	
                Section
                  4.02

              	
                Liquidation
                  of Mortgage Loans.

              

      

       

      In
        the
        event that any payment due under any Mortgage Loan and not postponed pursuant
        to
        Section 4.01 is not paid when the same becomes due and payable, or in the
        event
        the Mortgagor fails to perform any other covenant or obligation under the
        Mortgage Loan and such failure continues beyond any applicable grace period,
        the
        Company shall take such action as (1) the Company would take under similar
        circumstances with respect to a similar mortgage loan held for its own account
        for investment, (2) shall be consistent with Accepted Servicing Practices,
        (3)
        the Company shall determine prudently to be in the best interest of Purchaser,
        and (4) is consistent with any related PMI Policy. In the event that any
        payment
        due under any Mortgage Loan is not postponed pursuant to Section 4.01 and
        remains delinquent for a period of 90 days or any other default continues
        for a
        period of 90 days beyond the expiration of any grace or cure period, the
        Company
        shall commence foreclosure proceedings, provided that, prior to commencing
        foreclosure proceedings, the Company shall notify the Purchaser in writing
        of
        the Company’s intention to do so, and the Company shall not commence foreclosure
        proceedings if the Purchaser objects to such action within 10 Business Days
        of
        receiving such notice. In the event the Purchaser objects to such foreclosure
        action, the Company shall not be required to make Monthly Advances with respect
        to such Mortgage Loan, pursuant to Section 5.03, and the Company’s obligation to
        make such Monthly Advances shall terminate on the 90th day referred to above.
        In
        such connection, the Company shall from its own funds make all necessary
        and
        proper Servicing Advances, provided, however, that the Company shall not
        be
        required to expend its own funds in connection with any foreclosure or towards
        the restoration or preservation of any Mortgaged Property, unless it shall
        determine (a) that such preservation, restoration and/or foreclosure will
        increase the proceeds of liquidation of the Mortgage Loan to Purchaser after
        reimbursement to itself for such expenses and (b) that such expenses will
        be
        recoverable by it either through Liquidation Proceeds (respecting which it
        shall
        have priority for purposes of withdrawals from the Custodial Account pursuant
        to
        Section 4.05) or through Insurance Proceeds (respecting which it shall have
        similar priority).

       

      Notwithstanding
        anything to the contrary contained herein, in connection with a foreclosure
        or
        acceptance of a deed in lieu of foreclosure, in the event the Company has
        reasonable cause to believe that a Mortgaged Property is contaminated by
        hazardous or toxic substances or wastes, or if the Purchaser otherwise requests
        an environmental inspection or review of such Mortgaged Property to be conducted
        by a qualified inspector. Upon completion of the inspection, the Company
        shall
        promptly provide the Purchaser with a written report of the environmental
        inspection.

       

      After
        reviewing the environmental inspection report, the Purchaser shall determine
        how
        the Company shall proceed with respect to the Mortgaged Property. In the
        event
        (a) the environmental inspection report indicates that the Mortgaged
        Property is contaminated by hazardous or toxic substances or wastes and
        (b) the Purchaser directs the Company to proceed with foreclosure or
        acceptance of a deed in lieu of foreclosure, the Company shall be reimbursed
        for
        all costs associated with such foreclosure or acceptance of a deed in lieu
        of
        foreclosure and any related environmental clean up costs, as applicable,
        from
        the related Liquidation Proceeds, or if the Liquidation Proceeds are
        insufficient to fully reimburse the Company, the Company shall be entitled
        to be
        reimbursed from amounts in the Custodial Account pursuant to Section 4.05
        hereof. In the event the Purchaser directs the Company not to proceed with
        foreclosure or acceptance of a deed in lieu of foreclosure, the Company shall
        be
        reimbursed for all Servicing Advances made with respect to the related Mortgaged
        Property from the Custodial Account pursuant to Section 4.05
        hereof.

       

      
        	 	
                Section
                  4.03

              	
                Collection
                  of Mortgage Loan Payments.

              

      

       

      Continuously
        from the date hereof until the principal and interest on all Mortgage Loans
        are
        paid in full, the Company shall proceed diligently to collect all payments
        due
        under each of the Mortgage Loans when the same shall become due and payable
        and
        shall take special care in ascertaining and estimating Escrow Payments and
        all
        other charges that will become due and payable with respect to the Mortgage
        Loan
        and the Mortgaged Property, to the end that the installments payable by the
        Mortgagors will be sufficient to pay such charges as and when they become
        due
        and payable.

       

      
        	 	
                Section
                  4.04

              	
                Establishment
                  of and Deposits to Custodial Account.

              

      

       

      The
        Company shall segregate and hold all funds collected and received pursuant
        to a
        Mortgage Loan separate and apart from any of its own funds and general assets
        and shall establish and maintain one or more Custodial Accounts, in the form
        of
        time deposit or demand accounts, titled “Countrywide Home Loans, Inc. in trust
        for EMC Mortgage Corporation, as purchaser of Residential Adjustable Rate
        Mortgage Loans and various Mortgagors”. The Custodial Account shall be
        established with a Qualified Depository acceptable to the Purchaser. Any
        funds
        deposited in the Custodial Account shall at all times be fully insured to
        the
        full extent permitted under applicable law. Funds deposited in the Custodial
        Account may be drawn on by the Company in accordance with Section 4.05. The
        creation of any Custodial Account shall be evidenced by a certification in
        the
        form of Exhibit
        D-1
        hereto,
        in the case of an account established with the Company, or by a letter agreement
        in the form of Exhibit
        D-2
        hereto,
        in the case of an account held by a depository other than the Company. A
        copy of
        such certification or letter agreement shall be furnished to the Purchaser
        and,
        upon request, to any subsequent Purchaser.

       

      The
        Company shall deposit in the Custodial Account within two Business Days of
        receipt, and retain therein, the following collections received by the Company
        and payments made by the Company after the related Cut-off Date, (other than
        payments of principal and interest due on or before the related Cut-off Date,
        or
        received by the Company prior to the related Cut-off Date but allocable to
        a
        period subsequent thereto or with respect to each LPMI Loan, in the amount
        of
        the LPMI Fee):

       

      (i) all
        payments on account of principal on the Mortgage Loans, including all Principal
        Prepayments;

       

      (ii) all
        payments on account of interest on the Mortgage Loans adjusted to the Mortgage
        Loan Remittance Rate;

       

      (iii) all
        Liquidation Proceeds;

       

      (iv) all
        Insurance Proceeds including amounts required to be deposited pursuant to
        Section 4.10, Section 4.11, Section 4.14 and Section 4.15;

       

      (v) all
        Condemnation Proceeds which are not applied to the restoration or repair
        of the
        Mortgaged Property or released to the Mortgagor in accordance with Section
        4.14;

       

      (vi) any
        amount required to be deposited in the Custodial Account pursuant to Section
        4.01, 4.09, 5.03, 6.01 or 6.02;

       

      (vii) any
        amounts payable in connection with the repurchase of any Mortgage Loan pursuant
        to Section 3.03, 3.05 or 3.07 and all amounts required to be deposited by
        the
        Company in connection with a shortfall in principal amount of any Qualified
        Substitute Mortgage Loan pursuant to Section 3.03;

       

      (viii) with
        respect to each Principal Prepayment in full or in part, the Prepayment Interest
        Shortfall Amount, if any, for the month of distribution. Such deposit shall
        be
        made from the Company’s own funds, without reimbursement therefor up to a
        maximum amount per month of the Servicing Fee actually received for such
        month
        for the Mortgage Loans;

       

      (ix) any
        amounts required to be deposited by the Company pursuant to Section 4.11
        in
        connection with the deductible clause in any blanket hazard insurance policy;
        and

       

      (x) any
        amounts received with respect to or related to any REO Property and all REO
        Disposition Proceeds pursuant to Section 4.16.

       

      The
        foregoing requirements for deposit into the Custodial Account shall be
        exclusive, it being understood and agreed that, without limiting the generality
        of the foregoing, payments in the nature of late payment charges and assumption
        fees, to the extent permitted by Section 6.01, need not be deposited by the
        Company into the Custodial Account. Any interest paid on funds deposited
        in the
        Custodial Account by the depository institution shall accrue to the benefit
        of
        the Company and the Company shall be entitled to retain and withdraw such
        interest from the Custodial Account pursuant to Section 4.05.

       

      
        	 	
                Section
                  4.05

              	
                Permitted
                  Withdrawals From Custodial Account.

              

      

       

      The
        Company shall, from time to time, withdraw funds from the Custodial Account
        for
        the following purposes:

       

      (i) to
        make
        payments to the Purchaser in the amounts and in the manner provided for in
        Section 5.01;

       

      (ii) to
        reimburse itself for Monthly Advances of the Company’s funds made pursuant to
        Section 5.03, the Company’s right to reimburse itself pursuant to this subclause
        (ii) being limited to amounts received on the related Mortgage Loan which
        represent late payments of principal and/or interest respecting which any
        such
        advance was made, it being understood that, in the case of any such
        reimbursement, the Company’s right thereto shall be prior to the rights of
        Purchaser, except that, where the Company is required to repurchase a Mortgage
        Loan pursuant to Section 3.03, 3.05, 3.07 or 6.02, the Company’s right to such
        reimbursement shall be subsequent to the payment to the Purchaser of the
        Repurchase Price pursuant to such sections and all other amounts required
        to be
        paid to the Purchaser with respect to such Mortgage Loan;

       

      (iii) to
        reimburse itself for unreimbursed Servicing Advances, and for any unpaid
        Servicing Fees, the Company’s right to reimburse itself pursuant to this
        subclause (iii) with respect to any Mortgage Loan being limited to related
        Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such
        other
        amounts as may be collected by the Company from the Mortgagor or otherwise
        relating to the Mortgage Loan, it being understood that, in the case of any
        such
        reimbursement, the Company’s right thereto shall be prior to the rights of
        Purchaser except where the Company is required to repurchase a Mortgage Loan
        pursuant to Section 3.03, 3.05, 3.07 or 6.02, in which case the Company’s right
        to such reimbursement shall be subsequent to the payment to the Purchasers
        of
        the Repurchase Price pursuant to such sections and all other amounts required
        to
        be paid to the Purchasers with respect to such Mortgage Loan;

       

      (iv) to
        pay
        itself interest on funds deposited in the Custodial Account;

       

      (v) to
        reimburse itself for expenses incurred and reimbursable to it pursuant to
        Section 9.01; 

       

      (vi) to
        pay
        any amount required to be paid pursuant to Section 4.16 related to any REO
        Property, it being understood that in the case of any such expenditure or
        withdrawal related to a particular REO Property, the amount of such expenditure
        or withdrawal from the Custodial Account shall be limited to amounts on deposit
        in the Custodial Account with respect to the related REO Property;

       

      (vii) to
        clear
        and terminate the Custodial Account upon the termination of this Agreement;
        and

       

      (viii) to
        withdraw funds deposited in error.

       

      In
        the
        event that the Custodial Account is interest bearing, on each Remittance
        Date,
        the Company shall withdraw all funds from the Custodial Account except for
        those
        amounts which, pursuant to Section 5.01, the Company is not obligated to
        remit
        on such Remittance Date. The Company may use such withdrawn funds only for
        the
        purposes described in this Section 4.05.

       

      
        	 	
                Section
                  4.06

              	
                Establishment
                  of and Deposits to Escrow Account.

              

      

       

      The
        Company shall segregate and hold all funds collected and received pursuant
        to a
        Mortgage Loan constituting Escrow Payments separate and apart from any of
        its
        own funds and general assets and shall establish and maintain one or more
        Escrow
        Accounts, in the form of time deposit or demand accounts, titled, “Countrywide
        Home Loans, Inc., in trust for the EMC Mortgage Corporation, as purchaser
        of
        Residential Adjustable Rate Mortgage Loans and various Mortgagors”. The Escrow
        Accounts shall be established with a Qualified Depository, in a manner which
        shall provide maximum available insurance thereunder. Funds deposited in
        the
        Escrow Account may be drawn on by the Company in accordance with Section
        4.07.
        The creation of any Escrow Account shall be evidenced by a certification
        in the
        form of Exhibit
        E-1
        hereto,
        in the case of an account established with the Company, or by a letter agreement
        in the form of Exhibit
        E-2
        hereto,
        in the case of an account held by a depository other than the Company. A
        copy of
        such certification shall be furnished to the Purchaser and, upon request,
        to any
        subsequent Purchaser.

       

      The
        Company shall deposit in the Escrow Account or Accounts within two Business
        Days
        of receipt, and retain therein:

       

      (i) all
        Escrow Payments collected on account of the Mortgage Loans, for the purpose
        of
        effecting timely payment of any such items as required under the terms of
        this
        Agreement; and

       

      (ii) all
        amounts representing Insurance Proceeds or Condemnation Proceeds which are
        to be
        applied to the restoration or repair of any Mortgaged Property.

       

      The
        Company shall make withdrawals from the Escrow Account only to effect such
        payments as are required under this Agreement, as set forth in Section 4.07.
        The
        Company shall be entitled to retain any interest paid on funds deposited
        in the
        Escrow Account by the depository institution, other than interest on escrowed
        funds required by law to be paid to the Mortgagor. To the extent required
        by
        law, the Company shall pay interest on escrowed funds to the Mortgagor
        notwithstanding that the Escrow Account may be non-interest bearing or that
        interest paid thereon is insufficient for such purposes.

       

      
        	 	
                Section
                  4.07

              	
                Permitted
                  Withdrawals From Escrow Account.

              

      

       

      Withdrawals
        from the Escrow Account or Accounts may be made by the Company
        only:

       

      (i) to
        effect
        timely payments of ground rents, taxes, assessments, water rates, mortgage
        insurance premiums, condominium charges, fire and hazard insurance premiums
        or
        other items constituting Escrow Payments for the related Mortgage;

       

      (ii) to
        reimburse the Company for any Servicing Advances made by the Company pursuant
        to
        Section 4.08 with respect to a related Mortgage Loan, but only from amounts
        received on the related Mortgage Loan which represent late collections of
        Escrow
        Payments thereunder;

       

      (iii) to
        refund
        to any Mortgagor any funds found to be in excess of the amounts required
        under
        the terms of the related Mortgage Loan; 

       

      (iv) for
        transfer to the Custodial Account and application to reduce the principal
        balance of the Mortgage Loan in accordance with the terms of the related
        Mortgage and Mortgage Note;

       

      (v) for
        application to restoration or repair of the Mortgaged Property in accordance
        with the procedures outlined in Section 4.14;

       

      (vi) to
        pay to
        the Company, or any Mortgagor to the extent required by law, any interest
        paid
        on the funds deposited in the Escrow Account;

       

      (vii) to
        clear
        and terminate the Escrow Account on the termination of this Agreement;
        and

       

      (viii) to
        withdraw funds deposited in error.

       

      
        	 	
                Section
                  4.08

              	
                Payment
                  of Taxes, Insurance and Other Charges.

              

      

       

      With
        respect to each Mortgage Loan, the Company shall maintain accurate records
        reflecting the status of ground rents, taxes, assessments, water rates, sewer
        rents, and other charges which are or may become a lien upon the Mortgaged
        Property and the status of PMI Policy premiums and fire and hazard insurance
        coverage and shall obtain, from time to time, all bills for the payment of
        such
        charges (including renewal premiums) and shall effect payment thereof prior
        to
        the applicable penalty or termination date, employing for such purpose deposits
        of the Mortgagor in the Escrow Account which shall have been estimated and
        accumulated by the Company in amounts sufficient for such purposes, as allowed
        under the terms of the Mortgage. To the extent that a Mortgage does not provide
        for Escrow Payments, the Company shall determine that any such payments are
        made
        by the Mortgagor at the time they first become due. The Company assumes full
        responsibility for the timely payment of all such bills and shall effect
        timely
        payment of all such charges irrespective of each Mortgagor’s faithful
        performance in the payment of same or the making of the Escrow Payments,
        and the
        Company shall make advances from its own funds to effect such
        payments.

       

      
        	 	
                Section
                  4.09

              	
                Protection
                  of Accounts.

              

      

       

      The
        Company may transfer the Custodial Account or the Escrow Account to a different
        Qualified Depository from time to time. Upon any such transfer, the Company
        shall promptly notify the Purchaser and deliver to the Purchaser a Custodial
        Account Certification or Escrow Account Certification (as applicable) in
        the
        form of Exhibit D-1 or E-1 to this agreement.

       

      The
        Company shall bear any expenses, losses or damages sustained by the Purchaser
        because the Custodial Account and/or the Escrow Account are not demand deposit
        accounts.

       

      Amounts
        on deposit in the Custodial Account and the Escrow Account may at the option
        of
        the Company be invested in Eligible Investments; provided that in the event
        that
        amounts on deposit in the Custodial Account or the Escrow Account exceed
        the
        amount fully insured by the FDIC (the “Insured
        Amount”)
        the
        Company shall be obligated to invest the excess amount over the Insured Amount
        in Eligible Investments on the same Business Day as such excess amount becomes
        present in the Custodial Account or the Escrow Account. Any such Eligible
        Investment shall mature no later than the Determination Date next following
        the
        date of such Eligible Investment, provided, however, that if such Eligible
        Investment is an obligation of a Qualified Depository (other than the Company)
        that maintains the Custodial Account or the Escrow Account, then such Eligible
        Investment may mature on such Remittance Date. Any such Eligible Investment
        shall be made in the name of the Company in trust for the benefit of the
        Purchaser. All income on or gain realized from any such Eligible Investment
        shall be for the benefit of the Company and may be withdrawn at any time
        by the
        Company. Any losses incurred in respect of any such investment shall be
        deposited in the Custodial Account or the Escrow Account, by the Company
        out of
        its own funds immediately as realized.

       

      
        	 	
                Section
                  4.10

              	
                Maintenance
                  of Hazard Insurance.

              

      

       

      The
        Company shall cause to be maintained for each Mortgage Loan hazard insurance
        such that all buildings upon the Mortgaged Property are insured by a generally
        acceptable insurer rated A:VI or better in the current Best’s Key Rating Guide
        (“Best’s”)
        against loss by fire, hazards of extended coverage and such other hazards
        as are
        customary in the area where the Mortgaged Property is located, in an amount
        which is at least equal to the lesser of (i) the replacement value of the
        improvements securing such Mortgage Loan and (ii) the greater of (a) the
        outstanding principal balance of the Mortgage Loan and (b) an amount such
        that
        the proceeds thereof shall be sufficient to prevent the Mortgagor or the
        loss
        payee from becoming a co-insurer.

       

      If
        a
        Mortgaged Property is located in an area identified in the Federal Register
        by
        the Flood 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 with a generally acceptable insurance carrier rated A:VI or
        better
        in Best’s in an amount representing coverage equal to the lesser of (i) the
        minimum amount required, under the terms of coverage, to compensate for any
        damage or loss on a replacement cost basis (or the unpaid balance of the
        mortgage if replacement cost coverage is not available for the type of building
        insured) and (ii) the maximum amount of insurance which is available under
        the
        Flood Disaster Protection Act of 1973, as amended. If at any time during
        the
        term of the Mortgage Loan, the Company determines in accordance with applicable
        law and pursuant to the Fannie Mae Guides that a Mortgaged Property is located
        in a special flood hazard area and is not covered by flood insurance or is
        covered in an amount less than the amount required by the Flood Disaster
        Protection Act of 1973, as amended, the Company shall notify the related
        Mortgagor that the Mortgagor must obtain such flood insurance coverage, and
        if
        said Mortgagor fails to obtain the required flood insurance coverage within
        forty-five (45) days after such notification, the Company shall immediately
        force place the required flood insurance on the Mortgagor’s behalf.

       

      If
        a
        Mortgage is secured by a unit in a condominium project, the Company shall
        verify
        that the coverage required of the owner’s association, including hazard, flood,
        liability, and fidelity coverage, is being maintained in accordance with
        then
        current Fannie Mae requirements, and secure from the owner’s association its
        agreement to notify the Company promptly of any change in the insurance coverage
        or of any condemnation or casualty loss that may have a material effect on
        the
        value of the Mortgaged Property as security.

       

      The
        Company shall cause to be maintained on each Mortgaged Property earthquake
        or
        such other or additional insurance as may be required pursuant to such
        applicable laws and regulations as shall at any time be in force and as shall
        require such additional insurance, or pursuant to the requirements of any
        private mortgage guaranty insurer, or as may be required to conform with
        Accepted Servicing Practices.

       

      In
        the
        event that any Purchaser or the Company shall determine that the Mortgaged
        Property should be insured against loss or damage by hazards and risks not
        covered by the insurance required to be maintained by the Mortgagor pursuant
        to
        the terms of the Mortgage, the Company shall communicate and consult with
        the
        Mortgagor with respect to the need for such insurance and bring to the
        Mortgagor’s attention the desirability of protection of the Mortgaged
        Property.

       

      All
        policies required hereunder shall name the Company as loss payee and shall
        be
        endorsed with standard or union mortgagee clauses, without contribution,
        which
        shall provide for at least 30 days prior written notice of any cancellation,
        reduction in amount or material change in coverage.

       

      The
        Company shall not interfere with the Mortgagor’s freedom of choice in selecting
        either his insurance carrier or agent, provided, however, that the Company
        shall
        not accept any such insurance policies from insurance companies unless such
        companies are rated A:VI or better in Best’s and are licensed to do business in
        the jurisdiction in which the Mortgaged Property is located. The Company
        shall
        determine that such policies provide sufficient risk coverage and amounts,
        that
        they insure the property owner, and that they properly describe the property
        address. The Company shall furnish to the Mortgagor a formal notice of
        expiration of any such insurance in sufficient time for the Mortgagor to
        arrange
        for renewal coverage by the expiration date.

       

      Pursuant
        to Section 4.04, any amounts collected by the Company under any such policies
        (other than amounts to be deposited in the Escrow Account and applied to
        the
        restoration or repair of the related Mortgaged Property, or property acquired
        in
        liquidation of the Mortgage Loan, or to be released to the Mortgagor, in
        accordance with the Company’s normal servicing procedures as specified in
        Section 4.14) shall be deposited in the Custodial Account subject to withdrawal
        pursuant to Section 4.05.

       

      
        	 	
                Section
                  4.11

              	
                Maintenance
                  of Mortgage Impairment Insurance.

              

      

       

      In
        the
        event that the Company shall obtain and maintain a blanket policy insuring
        against losses arising from fire and hazards covered under extended coverage
        on
        all of the Mortgage Loans, then, to the extent such policy provides coverage
        in
        an amount equal to the amount required pursuant to Section 4.10 and otherwise
        complies with all other requirements of Section 4.10, it shall conclusively
        be
        deemed to have satisfied its obligations as set forth in Section 4.10. Any
        amounts collected by the Company under any such policy relating to a Mortgage
        Loan shall be deposited in the Custodial Account subject to withdrawal pursuant
        to Section 4.05. Such policy may contain a deductible clause, in which case,
        in
        the event that there shall not have been maintained on the related Mortgaged
        Property a policy complying with Section 4.10, and there shall have been
        a loss
        which would have been covered by such policy, the Company shall deposit in
        the
        Custodial Account at the time of such loss the amount not otherwise payable
        under the blanket policy because of such deductible clause, such amount to
        deposited from the Company’s funds, without reimbursement therefor. Upon request
        of any Purchaser, the Company shall cause to be delivered to such Purchaser
        a
        certified true copy of such policy and a statement from the insurer thereunder
        that such policy shall in no event be terminated or materially modified without
        30 days’ prior written notice to such Purchaser.

       

      
        	 	
                Section
                  4.12

              	
                Maintenance
                  of Fidelity Bond and Errors and Omissions Insurance.

              

      

       

      The
        Company shall maintain with responsible companies, at its own expense, a
        blanket
        Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage
        on all officers, employees or other persons acting in any capacity requiring
        such persons to handle funds, money, documents or papers relating to the
        Mortgage Loans (“Company
        Employees”).
        Any
        such Fidelity Bond and Errors and Omissions Insurance Policy shall be in
        the
        form of the Mortgage Banker’s Blanket Bond and shall protect and insure the
        Company against losses, including forgery, theft, embezzle-ment, fraud, errors
        and omissions and negligent acts of such Company Employees. Such Fidelity
        Bond
        and Errors and Omissions Insurance Policy also shall protect and insure the
        Company against losses in connection with the release or satisfaction of
        a
        Mortgage Loan without having obtained payment in full of the indebtedness
        secured thereby. No provision of this Section 4.12 requiring such Fidelity
        Bond
        and Errors and Omissions Insurance Policy shall diminish or relieve the Company
        from its duties and obligations as set forth in this Agreement. The minimum
        coverage under any such bond and insurance policy shall be acceptable to
        Fannie
        Mae or Freddie Mac. Upon the request of any Purchaser, the Company shall
        cause
        to be delivered to such Purchaser a certified true copy of such fidelity
        bond
        and insurance policy and a statement from the surety and the insurer that
        such
        fidelity bond and insurance policy shall in no event be terminated or materially
        modified without 30 days’ prior written notice to the Purchaser.

       

      
        	 	
                Section
                  4.13

              	
                Inspections.

              

      

       

      The
        Company shall inspect the Mortgaged Property as often as deemed necessary
        by the
        Company to assure itself that the value of the Mortgaged Property is being
        preserved. In addition, if any Mortgage Loan is more than 60 days delinquent,
        the Company immediately shall inspect the Mortgaged Property and shall conduct
        subsequent inspections in accordance with Accepted Servicing Practices or
        as may
        be required by the primary mortgage guaranty insurer. The Company shall keep
        a
        written report of each such inspection.

       

      
        	 	
                Section
                  4.14

              	
                Restoration
                  of Mortgaged Property.

              

      

       

      The
        Company need not obtain the approval of the Purchaser prior to releasing
        any
        Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied
        to
        the restoration or repair of the Mortgaged Property if such release is in
        accordance with Accepted Servicing Practices. At a minimum, the Company shall
        comply with the following conditions in connection with any such release
        of
        Insurance Proceeds or Condemnation Proceeds:

       

      (i) the
        Company shall receive satisfactory independent verification of completion
        of
        repairs and issuance of any required approvals with respect thereto;

       

      (ii) the
        Company shall take all steps necessary to preserve the priority of the lien
        of
        the Mortgage, including, but not limited to requiring waivers with respect
        to
        mechanics’ and materialmen’s liens; 

       

      (iii) the
        Company shall verify that the Mortgage Loan is not in default; and

       

      (iv) pending
        repairs or restoration, the Company shall place the Insurance Proceeds or
        Condemnation Proceeds in the Custodial Account.

       

      If
        the
        Purchaser is named as an additional loss payee, the Company is hereby empowered
        to endorse any loss draft issued in respect of such a claim in the name of
        the
        Purchaser.

       

      
        	 	
                Section
                  4.15

              	
                Maintenance
                  of PMI and LPMI Policy; Claims.

              

      

       

      (a)
        With
        respect to each Mortgage Loan with a LTV in excess of 95%, the Company
        shall:

       

      (i)
        with
        respect to Mortgage Loans which are not LPMI Loans, in accordance with state
        and
        federal laws and without any cost to the Purchaser, maintain or cause the
        Mortgagor to maintain in full force and effect a PMI Policy with a minimum
        of
        35% coverage insuring that portion of the Mortgage Loan in excess of 68%
        (or
        such other percentage as stated in the related Acknowledgment Agreement)
        of
        value, and shall pay or shall cause the Mortgagor to pay the premium thereon
        on
        a timely basis, until the LTV of such Mortgage Loan is reduced to 80%. In
        the
        event that such PMI Policy shall be terminated, the Company shall obtain
        from
        another Qualified Insurer a comparable replacement policy, with a total coverage
        equal to the remaining coverage of such terminated PMI Policy, at substantially
        the same fee level. If the insurer shall cease to be a Qualified Insurer,
        the
        Company shall determine whether recoveries under the PMI Policy are jeopardized
        for reasons related to the financial condition of such insurer, it being
        understood that the Company shall in no event have any responsibility or
        liability for any failure to recover under the PMI Policy for such reason.
        If
        the Company determines that recoveries are so jeopardized, it shall notify
        the
        Purchaser and the Mortgagor, if required, and obtain from another Qualified
        Insurer a replacement insurance policy. The Company shall not take any action
        which would result in noncoverage under any applicable PMI Policy of any
        loss
        which, but for the actions of the Company would have been covered thereunder.
        In
        connection with any assumption or substitution agreement entered into or
        to be
        entered into pursuant to Section 4.01, the Company shall promptly notify
        the
        insurer under the related PMI Policy, if any, of such assumption or substitution
        of liability in accordance with the terms of such PMI Policy and shall take
        all
        actions which may be required by such insurer as a condition to the continuation
        of coverage under such PMI Policy. If such PMI Policy is terminated as a
        result
        of such assumption or substitution of liability, the Company shall obtain
        a
        replacement PMI Policy as provided above.

       

      (ii)
        with
        respect to LPMI Loans, maintain in full force and effect an LPMI Policy insuring
        that portion of the Mortgage Loan with a minimum of 35% coverage insuring
        that
        portion of the Mortgage Loan in excess of 68% (or such other percentage as
        stated in the related Acknowledgment Agreement) of value, and from time to
        time,
        withdraw the LPMI Fee with respect to such LPMI Loan from the Custodial Account
        in order to pay the premium thereon on a timely basis, until the LTV of such
        Mortgage Loan is reduced to 80%. In the event that the interest payments
        made
        with respect to any LPMI Loan are less than the LPMI Fee, the Company shall
        advance from its own funds the amount of any such shortfall in the LPMI Fee,
        in
        payment of the premium on the related LPMI Policy. Any such advance shall
        be a
        Servicing Advance subject to reimbursement pursuant to the provisions on
        Section
        2.05. In the event that such LPMI Policy shall be terminated, the Company
        shall
        obtain from another Qualified Insurer a comparable replacement policy, with
        a
        total coverage equal to the remaining coverage of such terminated LPMI Policy,
        at substantially the same fee level. If the insurer shall cease to be a
        Qualified Insurer, the Company shall determine whether recoveries under the
        LPMI
        Policy are jeopardized for reasons related to the financial condition of
        such
        insurer, it being understood that the Company shall in no event have any
        responsibility or liability for any failure to recover under the LPMI Policy
        for
        such reason. If the Company determines that recoveries are so jeopardized,
        it
        shall notify the Purchaser and the Mortgagor, if required, and obtain from
        another Qualified Insurer a replacement insurance policy. The Company shall
        not
        take any action which would result in noncoverage under any applicable LPMI
        Policy of any loss which, but for the actions of the Company would have been
        covered thereunder. In connection with any assumption or substitution agreement
        entered into or to be entered into pursuant to Section 6.01, the Company
        shall
        promptly notify the insurer under the related LPMI Policy, if any, of such
        assumption or substitution of liability in accordance with the terms of such
        LPMI Policy and shall take all actions which may be required by such insurer
        as
        a condition to the continuation of coverage under such PMI Policy. If such
        LPMI
        Policy is terminated as a result of such assumption or substitution of
        liability, the Company shall obtain a replacement LPMI Policy as provided
        above.

       

      (b) In
        connection with its activities as servicer, the Company agrees to prepare
        and
        present, on behalf of itself and the Purchaser, claims to the insurer under
        any
        PMI Policy or LPMI Policy in a timely fashion in accordance with the terms
        of
        such PMI Policy or LPMI Policy and, in this regard, to take such action as
        shall
        be necessary to permit recovery under any PMI Policy or LPMI Policy respecting
        a
        defaulted Mortgage Loan. Pursuant to Section 4.04, any amounts collected
        by the
        Company under any PMI Policy or LPMI Policy shall be deposited in the Custodial
        Account, subject to withdrawal pursuant to Section 4.05.

       

      (c) Purchaser,
        in its sole discretion, at any time, may (i) either obtain an additional
        PMI
        Policy on any Mortgage Loan which already has a PMI Policy in place, or (ii)
        obtain a PMI Policy for any Mortgage Loan which does not already have a PMI
        Policy in place. In any event, the Company agrees to administer such PMI
        Policies in accordance with the Agreement or any Reconstitution
        Agreement.

       

      
        	 	
                Section
                  4.16

              	
                Title,
                  Management and Disposition of REO Property.

              

      

       

      In
        the
        event that title to any Mortgaged Property is acquired in foreclosure or
        by deed
        in lieu of foreclosure, the deed or certificate of sale shall be taken in
        the
        name of the Purchaser, or in the event the Purchaser is not authorized or
        permitted to hold title to real property in the state where the REO Property
        is
        located, or would be adversely affected under the “doing business” or tax laws
        of such state by so holding title, the deed or certificate of sale shall
        be
        taken in the name of such Person or Persons as shall be consistent with an
        Opinion of Counsel obtained by the Company from any attorney duly licensed
        to
        practice law in the state where the REO Property is located. The Person or
        Persons holding such title other than the Purchaser shall acknowledge in
        writing
        that such title is being held as nominee for the Purchaser.

       

      The
        Company shall manage, conserve, protect and operate each REO Property for
        the
        Purchaser solely for the purpose of its prompt disposition and sale. The
        Company, either itself or through an agent selected by the Company, shall
        manage, conserve, protect and operate the REO Property in the same manner
        that
        it manages, conserves, protects and operates other foreclosed property for
        its
        own account, and in the same manner that similar property in the same locality
        as the REO Property is managed. The Company shall attempt to sell the same
        (and
        may temporarily rent the same for a period not greater than one year, except
        as
        otherwise provided below) on such terms and conditions as the Company deems
        to
        be in the best interest of the Purchaser.

       

      The
        Company shall use its best efforts to dispose of the REO Property as soon
        as
        possible and shall sell such REO Property in any event within one year after
        title has been taken to such REO Property, unless (i) (A) a REMIC election
        has
        not been made with respect to the arrangement under which the Mortgage Loans
        and
        the REO Property are held, and (ii) the Company determines, and gives an
        appropriate notice to the Purchaser to such effect, that a longer period
        is
        necessary for the orderly liquidation of such REO Property. If a period longer
        than one year is permitted under the foregoing sentence and is necessary
        to sell
        any REO Property the Company shall report monthly to the Purchaser as to
        the
        progress being made in selling such REO Property. 

       

      The
        Company shall also maintain on each REO Property fire and hazard insurance
        with
        extended coverage in amount which is at least equal to the maximum insurable
        value of the improvements which are a part of such property, liability insurance
        and, to the extent required and available under the Flood Disaster Protection
        Act of 1973, as amended, flood insurance in the amount required above.

       

      The
        disposition of REO Property shall be carried out by the Company at such price,
        and upon such terms and conditions, as the Company deems to be in the best
        interests of the Purchaser. The proceeds of sale of the REO Property shall
        be
        promptly deposited in the Custodial Account. As soon as practical thereafter
        the
        expenses of such sale shall be paid and the Company shall reimburse itself
        for
        any related unreimbursed Servicing Advances, unpaid Servicing Fees and
        unreimbursed advances made pursuant to Section 5.03, and on the Remittance
        Date
        immediately following the Principal Prepayment Period in which such sale
        proceeds are received the net cash proceeds of such sale remaining in the
        Custodial Account shall be distributed to the Purchaser. 

       

      The
        Company shall withdraw the Custodial Account funds necessary for the proper
        operation, management and maintenance of the REO Property, including the
        cost of
        maintaining any hazard insurance pursuant to Section 4.10 and the fees of
        any
        managing agent of the Company, a Subservicer, or the Company itself. The
        REO
        management fee shall be an amount that is reasonable and customary in the
        area
        where the Mortgaged Property is located. The Company shall make monthly
        distributions on each Remittance Date to the Purchasers of the net cash flow
        from the REO Property (which shall equal the revenues from such REO Property
        net
        of the expenses described in this Section 4.16 and of any reserves reasonably
        required from time to time to be maintained to satisfy anticipated liabilities
        for such expenses).

       

      
        	 	
                Section
                  4.17

              	
                Real
                  Estate Owned Reports.

              

      

       

      Together
        with the statement furnished pursuant to Section 5.02, the Company shall
        furnish
        to the Purchaser on or before the Remittance Date each month a statement
        with
        respect to any REO Property covering the operation of such REO Property for
        the
        previous month and the Company’s efforts in connection with the sale of such REO
        Property and any rental of such REO Property incidental to the sale thereof
        for
        the previous month. That statement shall be accompanied by such other
        information as the Purchaser shall reasonably request.

       

      
        	 	
                Section
                  4.18

              	
                Liquidation
                  Reports.

              

      

       

      Upon
        the
        foreclosure sale of any Mortgaged Property or the acquisition thereof by
        the
        Purchaser pursuant to a deed in lieu of foreclosure, the Company shall submit
        to
        the Purchaser a liquidation report with respect to such Mortgaged
        Property.

       

      
        	 	
                Section
                  4.19

              	
                Reports
                  of Foreclosures and Abandonments of Mortgaged Property.

              

      

       

      Following
        the foreclosure sale or abandonment of any Mortgaged Property, the Company
        shall
        report such foreclosure or abandonment as required pursuant to Section 6050J
        of
        the Code.

       

      
        	 	
                Section
                  4.20

              	
                Notification
                  of Adjustments.

              

      

       

      With
        respect to each Mortgage Loan, the Company shall adjust the Mortgage Interest
        Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly
        Payment on the related Payment Adjustment Date in compliance with the
        requirements of applicable law and the related Mortgage and Mortgage Note.
        If,
        pursuant to the terms of the Mortgage Note, another index is selected for
        determining the Mortgage Interest Rate, the same index will be used with
        respect
        to each Mortgage Note which requires a new index to be selected, provided
        that
        such selection does not conflict with the terms of the related Mortgage Note.
        The Company shall execute and deliver any and all necessary notices required
        under applicable law and the terms of the related Mortgage Note and Mortgage
        regarding the Mortgage Interest Rate and the Monthly Payment adjustments.
        The
        Company shall promptly upon written request thereof, deliver to the Purchaser
        such notifications and any additional applicable data regarding such adjustments
        and the methods used to calculate and implement such adjustments. Upon the
        discovery by the Company, or the Purchaser that the Company has failed to
        adjust
        a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the
        related Mortgage Note and Mortgage, the Company shall immediately deposit
        in the
        Custodial Account from its own funds the amount of any interest loss caused
        the
        Purchaser thereby.

       

      ARTICLE
        V

       

      PAYMENTS
        TO PURCHASER

       

      
        	 	
                Section
                  5.01

              	
                Remittances.

              

      

       

      On
        each
        Remittance Date the Company shall remit by wire transfer of immediately
        available funds to the Purchaser (a) all amounts deposited in the Custodial
        Account as of the close of business on the Determination Date (net of charges
        against or withdrawals from the Custodial Account pursuant to Section 4.05),
        plus (b) all amounts, if any, which the Company is obligated to distribute
        pursuant to Section 5.03, minus (c) any amounts attributable to Principal
        Prepayments received after the applicable Principal Prepayment Period which
        amounts shall be remitted on the following Remittance Date, together with
        any
        additional interest required to be deposited in the Custodial Account in
        connection with such Principal Prepayment in accordance with Section 4.04(viii),
        and minus (d) any amounts attributable to Monthly Payments collected but
        due on
        a Due Date or Dates subsequent to the first day of the month of the Remittance
        Date, which amounts shall be remitted on the Remittance Date next succeeding
        the
        Due Period for such amounts.

       

      With
        respect to any remittance received by the Purchaser after the second Business
        Day following the Business Day on which such payment was due, the Company
        shall
        pay to the Purchaser interest on any such late payment at an annual rate
        equal
        to the Prime Rate, adjusted as of the date of each change, plus three percentage
        points, but in no event greater than the maximum amount permitted by applicable
        law. Such interest shall be deposited in the Custodial Account by the Company
        on
        the date such late payment is made and shall cover the period commencing
        with
        the day following such second Business Day and ending with the Business Day
        on
        which such payment is made, both inclusive. Such interest shall be remitted
        along with the distribution payable on the next succeeding Remittance Date.
        The
        payment by the Company of any such interest shall not be deemed an extension
        of
        time for payment or a waiver of any Event of Default by the
        Company.

       

      
        	 	
                Section
                  5.02

              	
                Statements
                  to Purchaser.

              

      

       

      Not
        later
        than the 10th
        day of
        each calendar month, the Company shall furnish to the Purchaser a Monthly
        Remittance Advice, with a trial balance report attached thereto, in the form
        of
Exhibit
        F
        annexed
        hereto electronic medium mutually acceptable to the parties as to the preceding
        calendar month and the Due Period in the month of remittance

       

      In
        addition, not more than 60 days after the end of each calendar year, the
        Company
        shall furnish to each Person who was a Purchaser at any time during such
        calendar year an annual statement in accordance with the requirements of
        applicable federal income tax law as to the aggregate of remittances for
        the
        applicable portion of such year. Nothing in this Section 5.02 shall be deemed
        to
        require the Company to prepare any federal income tax return on Internal
        Revenue
        Service Form 1066, U.S. Real Estate Mortgage Investment Conduit Income Tax
        Return, including Schedule Q thereto, Quarterly Notice to Residual Interest
        Holders of REMIC Taxable Income or Net Loss Allocation, or any successor
        forms,
        to be filed on behalf of any REMIC under the REMIC Provisions.

       

      
        	 	
                Section
                  5.03

              	
                Monthly
                  Advances by Company.

              

      

       

      On
        the
        Business Day immediately preceding each Remittance Date, either (a) the Company
        shall deposit in the Custodial Account from its own funds or (b) if funds
        are on
        deposit in the Custodial Account which are not required to be remitted on
        the
        related Remittance Date, the Company may make an appropriate entry in its
        records that such funds shall be applied toward the related Monthly Advance
        (provided, that any funds so applied shall be replaced by the Company no
        later
        than the Business Day immediately preceding the next Remittance Date), in
        each
        case, in an aggregate amount equal to all Monthly Payments (with interest
        adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage
        Loans during the applicable Due Period and which were delinquent at the close
        of
        business on the immediately preceding Determination Date or which were deferred
        pursuant to Section 4.01. The Company’s obligation to make such Monthly Advances
        as to any Mortgage Loan will continue through the last Monthly Payment due
        prior
        to the payment in full of the Mortgage Loan, or through the last Remittance
        Date
        prior to the Remittance Date for the distribution of all Liquidation Proceeds
        and other payments or recoveries (including Insurance Proceeds and Condemnation
        Proceeds) with respect to the Mortgage Loan. 

       

      In
        no
        event shall the Company be obligated to make an advance under this section
        5.03
        if at the time of such advance it deems such advance to be non-recoverable.
        The
        Company shall promptly deliver an officer’s certificate to the Purchaser upon
        determining that any advance is non-recoverable. In the event that upon
        liquidation of the Mortgage Loan, the Liquidation Proceeds are insufficient
        to
        reimburse the Company for any Monthly Advances, the Company shall notify
        the
        related Purchaser of such shortfall by registered mail with sufficient
        supporting documentation and shall have the right to deduct such shortfall
        from
        the next remittance to be paid to the related Purchaser.

       

      ARTICLE
        VI

       

       

      GENERAL
        SERVICING PROCEDURES

       

      Section
        6.01 Transfers
        of Mortgaged Property.

       

      The
        Company shall use its best efforts to enforce any “due-on-sale” provision
        contained in any Mortgage or Mortgage Note and to deny assumption by the
        person
        to whom the Mortgaged Property has been or is about to be sold whether by
        absolute conveyance or by contract of sale, and whether or not the Mortgagor
        remains liable on the Mortgage and the Mortgage Note. When the Mortgaged
        Property has been conveyed by the Mortgagor, the Company shall, to the extent
        it
        has knowledge of such conveyance, exercise its rights to accelerate the maturity
        of such Mortgage Loan under the “due-on-sale” clause applicable thereto,
        provided, however, that the Company shall not exercise such rights if prohibited
        by law from doing so or if the exercise of such rights would impair or threaten
        to impair any recovery under the related PMI or LPMI Policy, if
        any.

       

      If
        the
        Company reasonably believes it is unable under applicable law to enforce
        such
“due-on-sale” clause, the Company shall enter into (i) an assumption and
        modification agreement with the person to whom such property has been conveyed,
        pursuant to which such person becomes liable under the Mortgage Note and
        the
        original Mortgagor remains liable thereon or (ii) in the event the Company
        is
        unable under applicable law to require that the original Mortgagor remain
        liable
        under the Mortgage Note and the Company has the prior consent of the primary
        mortgage guaranty insurer, a substitution of liability agreement with the
        purchaser of the Mortgaged Property pursuant to which the original Mortgagor
        is
        released from liability and the purchaser of the Mortgaged Property is
        substituted as Mortgagor and becomes liable under the Mortgage Note. If an
        assumption fee is collected by the Company for entering into an assumption
        agreement, a portion of such fee, up to an amount equal to one percent (1.0%)
        of
        the outstanding principal balance of the related Mortgage Loan, will be retained
        by the Company as additional servicing compensation, and any portion thereof
        in
        excess one percent (1.0%) shall be deposited in the Custodial Account for
        the
        benefit of the Purchaser. In connection with any such assumption or substitution
        of liability, neither the Mortgage Interest Rate borne by the related Mortgage
        Note, the term of the Mortgage Loan, the Index, the Lifetime Mortgage Interest
        Rate Cap, the Initial Rate Cap or the Gross Margin of any Mortgage Loan,
        nor the
        outstanding principal amount of the Mortgage Loan shall be changed.

       

      To
        the
        extent that any Mortgage Loan is assumable, the Company shall inquire diligently
        into the creditworthiness of the proposed transferee, and shall use the
        underwriting criteria for approving the credit of the proposed transferee
        which
        are used by Fannie Mae with respect to underwriting mortgage loans of the
        same
        type as the Mortgage Loans. If the credit of the proposed transferee does
        not
        meet such underwriting criteria, the Company diligently shall, to the extent
        permitted by the Mortgage or the Mortgage Note and by applicable law, accelerate
        the maturity of the Mortgage Loan.

       

      
        	 	
                Section
                  6.02

              	
                Satisfaction
                  of Mortgages and Release of Mortgage Files.

              

      

       

      Upon
        the
        payment in full of any Mortgage Loan, or the receipt by the Company of a
        notification that payment in full will be escrowed in a manner customary
        for
        such purposes, the Company shall notify the Purchaser in the Monthly Remittance
        Advice as provided in Section 5.02, and may request the release of any Mortgage
        Loan Documents. In connection with any such prepayment in full, the Company
        shall comply with all applicable laws regarding satisfaction, release or
        reconveyance with respect to the Mortgage.

       

      If
        the
        Company satisfies or releases a Mortgage without first having obtained payment
        in full of the indebtedness secured by the Mortgage or should the Company
        otherwise prejudice any rights the Purchaser may have under the mortgage
        instruments, upon written demand of the Purchaser, the Company shall repurchase
        the related Mortgage Loan at the Repurchase Price by deposit thereof in the
        Custodial Account within 2 Business Days of receipt of such demand by the
        Purchaser. The Company shall maintain the Fidelity Bond and Errors and Omissions
        Insurance Policy as provided for in Section 4.12 insuring the Company against
        any loss it may sustain with respect to any Mortgage Loan not satisfied in
        accordance with the procedures set forth herein.

       

      
        	 	
                Section
                  6.03

              	
                Servicing
                  Compensation.

              

      

       

      As
        compensation for its services hereunder, the Company shall be entitled to
        withdraw from the Custodial Account or to retain from interest payments on
        the
        Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be
        payable monthly and shall be computed on the basis of the same unpaid principal
        balance and for the period respecting which any related interest payment
        on a
        Mortgage Loan is computed. The Servicing Fee shall be payable only at the
        time
        of and with respect to those Mortgage Loans for which payment is in fact
        made of
        the entire amount of the Monthly Payment. The obligation of the Purchaser
        to pay
        the Servicing Fee is limited to, and payable solely from, the interest portion
        of such Monthly Payments collected by the Company.

       

      Additional
        servicing compensation in the form of assumption fees, to the extent provided
        in
        Section 6.01, and late payment charges and Prepayment Penalties, shall be
        retained by the Company to the extent not required to be deposited in the
        Custodial Account. The Company shall be required to pay all expenses incurred
        by
        it in connection with its servicing activities hereunder and shall not be
        entitled to reimbursement thereof except as specifically provided for herein.
        Notwithstanding anything in this Agreement to the contrary, in the event
        of a
        Principal Prepayment in full, the Company shall not waive, and shall not
        permit
        the waiver of, any Prepayment Penalty or portion thereof required by the
        terms
        of the related Mortgage Note unless (i) the Company determines that such
        waiver
        would maximize recovery of Liquidations Proceeds for such Mortgage Loan,
        taking
        into account the value of such Prepayment Penalty, or (ii) (A) the
        enforeceability therefore is limited (1) by bankruptcy, insolvency, moratorium,
        receivership, or other similar law relating to creditors’ rights generally or
        (2) due to acceleration in connection with a foreclosure or other involuntary
        payment or (B) the enforceability is otherwise limited or prohibited by
        applicable law.

       

      
        	 	
                Section
                  6.04

              	
                Annual
                  Statement as to Compliance.

              

      

       

      The
        Company shall deliver to the Purchaser, on or before May 31 each year beginning
        May 31, 2003, an Officer’s Certificate, stating that (i) a review of the
        activities of the Company during the preceding calendar year and of performance
        under this Agreement has been made under such officer’s supervision, and (ii)
        the Company has complied fully with the provisions of Article II and Article
        IV,
        and (iii) to the best of such officer’s knowledge, based on such review, the
        Company has fulfilled all its obligations under this Agreement throughout
        such
        year, or, if there has been a default in the fulfillment of any such obligation,
        specifying each such default known to such officer and the nature and status
        thereof and the action being taken by the Company to cure such
        default.

       

      
        	 	
                Section
                  6.05

              	
                Annual
                  Independent Public Accountants’ Servicing Report.

              

      

       

      On
        or
        before May 31st of each year beginning May 31, 2003, the Company, at its
        expense, shall cause a firm of independent public accountants which is a
        member
        of the American Institute of Certified Public Accountants to furnish a statement
        to each Purchaser to the effect that such firm has examined certain documents
        and records relating to the servicing of the Mortgage Loans and this Agreement
        and that such firm is of the opinion that the provisions of Article II and
        Article IV have been complied with, and that, on the basis of such examination
        conducted substantially in compliance with the Single Attestation Program
        for
        Mortgage Bankers, nothing has come to their attention which would indicate
        that
        such servicing has not been conducted in compliance therewith, except for
        (i)
        such exceptions as such firm shall believe to be immaterial, and (ii) such
        other
        exceptions as shall be set forth in such statement.

       

      
        	 	
                Section
                  6.06

              	
                Right
                  to Examine Company Records.

              

      

       

      The
        Purchaser shall have the right to examine and audit any and all of the books,
        records, or other information of the Company, whether held by the Company
        or by
        another on its behalf, with respect to or concerning this Agreement or the
        Mortgage Loans, during business hours or at such other times as may be
        reasonable under applicable circumstances, upon reasonable advance
        notice.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

      IN
        WITNESS WHEREOF,
        the
        Company and the Purchaser have caused their names to be signed hereto by
        their
        respective officers thereunto duly authorized as of the day and year first
        above
        written.

       

      
         

        

          
            	 	
                    EMC
                      MORTGAGE CORPORATION

                     

                  
	 	 	 
	 	
                    By:

                  	 
	 	
                    Name:

                  	Ralene
                    Ruyle
	 	
                    Title:

                  	President

          

          

            
              	 	
                      
                        COUNTRYWIDE
                          HOME LOANS, INC.

                      

                    
	 	 	 
	 	
                      By:

                    	 
	 	
                      Name:

                    	 
	 	Title:  	 
	 

              
                
                  
                  

                

                
                  
                  

                  
                    

                  

                

                
                  
                  

                  
                    

                  

                

              

              
                	
                        STATE
                          OF NEW YORK

                      	
                        )

                      	 
	 	
                        )

                      	
                        ss.:

                      
	
                        COUNTY
                          OF _______________________

                      	
                        )

                      	 

              

            

          

        

      

       

       

      On
        the __
        day of ________, 200_ before me, a Notary Public in and for said State,
        personally appeared ________, known to me to be Vice President of EMC Mortgage
        Corporation, the federal savings association that executed the within instrument
        and also known to me to be the person who executed it on behalf of said
        corporation, and acknowledged to me that such corporation executed the within
        instrument.

       

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

       

      

        
          	 	 
	 	
                  Notary
                    Public

                

        

         

        
          	 	My
                  Commission expires 	 

        

      

       

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

        
          	
                  STATE
                    OF NEW YORK

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF _______________________

                	
                  )

                	 

        

         

      

       

       

      On
        the __
        day of _______, 200_ before me, a Notary Public in and for said State,
        personally appeared __________, known to me to be ______________ of Countrywide
        Home Loans, Inc. the corporation that executed the within instrument and
        also
        known to me to be the person who executed it on behalf of said corporation,
        and
        acknowledged to me that such corporation executed the within
        instrument.

       

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

       

      
        

          
            	 	 
	 	
                    Notary
                      Public

                  

          

           

          
            	 	My
                    Commission expires 	 

          

        

         

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        A

       

      MORTGAGE
        LOAN SCHEDULE

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

      EXHIBIT
        B

       

      CONTENTS
        OF EACH MORTGAGE FILE

       

      With
        respect to each Mortgage Loan, the Mortgage File shall include each of the
        following items, which shall be available for inspection by the Purchaser
        and
        any prospective Purchaser, and which shall be retained by the Company in
        the
        Servicing File or delivered to the Custodian pursuant to Section 2.01 and
        2.03
        of the Seller’s Warranties and Servicing Agreement to which this Exhibit is
        attached (the “Agreement”):

       

      
        	 	
                1.

              	
                The
                  original Mortgage Note bearing all intervening endorsements, endorsed
“Pay
                  to the order of _________ without recourse” and signed in the name of the
                  Company by an authorized officer (in the event that the Mortgage
                  Loan was
                  acquired by the Company in a merger, the signature must be in the
                  following form: “Countrywide Home Loans, Inc., successor by merger to
                  [name of predecessor]”; and in the event that the Mortgage Loan was
                  acquired or originated by the Company while doing business under
                  another
                  name, the signature must be in the following form: “Countrywide Home
                  Loans, Inc., formerly known as [previous
                  name]”).

              

      

       

      
        	 	
                2.

              	
                The
                  original of any guarantee executed in connection with the Mortgage
                  Note
                  (if any).

              

      

       

      
        	 	
                3.

              	
                The
                  original Mortgage, with evidence of recording thereon. If in connection
                  with any Mortgage Loan, the Company cannot deliver or cause to
                  be
                  delivered the original Mortgage with evidence of recording thereon
                  on or
                  prior to the related Closing Date because of a delay caused by
                  the public
                  recording office where such Mortgage has been delivered for recordation
                  or
                  because such Mortgage has been lost or because such public recording
                  office retains the original recorded Mortgage, the Company shall
                  deliver
                  or cause to be delivered to the Custodian, a photocopy of such
                  Mortgage,
                  together with (i) in the case of a delay caused by the public recording
                  office, an Officer’s Certificate of the Company stating that such Mortgage
                  has been dispatched to the appropriate public recording office
                  for
                  recordation and that the original recorded Mortgage or a copy of
                  such
                  Mortgage certified by such public recording office to be a true
                  and
                  complete copy of the original recorded Mortgage will be promptly
                  delivered
                  to the Custodian upon receipt thereof by the Company; or (ii) in
                  the case
                  of a Mortgage where a public recording office retains the original
                  recorded Mortgage or in the case where a Mortgage is lost after
                  recordation in a public recording office, a copy of such Mortgage
                  certified by such public recording office or by the title insurance
                  company that issued the title policy to be a true and complete
                  copy of the
                  original recorded Mortgage.

              

      

       

      
        	 	
                4.

              	
                The
                  originals of all assumption, modification, consolidation or extension
                  agreements, with evidence of recording
                  thereon.

              

      

       

      
        	 	
                5.

              	
                The
                  original Assignment of Mortgage for each Mortgage Loan, in form
                  and
                  substance acceptable for recording, delivered in blank. If the
                  Mortgage
                  Loan was acquired by the Company in a merger, the Assignment of
                  Mortgage
                  must be made by “Countrywide Home Loans, Inc., successor by merger to
                  [name of predecessor].” If the Mortgage Loan was acquired or originated by
                  the Company while doing business under another name, the Assignment
                  of
                  Mortgage must be by “Countrywide Home Loans, Inc., formerly known as
                  [previous name].”

              

      

       

      
        	 	
                6.

              	
                Originals
                  of all intervening assignments of the Mortgage with evidence of
                  recording
                  thereon, or if any such intervening assignment has not been returned
                  from
                  the applicable recording office or has been lost or if such public
                  recording office retains the original recorded assignments of mortgage,
                  the Company shall deliver or cause to be delivered to the Custodian,
                  a
                  photocopy of such intervening assignment, together with (i) in
                  the case of
                  a delay caused by the public recording office, an Officer’s Certificate of
                  the Company stating that such intervening assignment of mortgage
                  has been
                  dispatched to the appropriate public recording office for recordation
                  and
                  that such original recorded intervening assignment of mortgage
                  or a copy
                  of such intervening assignment of mortgage certified by the appropriate
                  public recording office or by the title insurance company that
                  issued the
                  title policy to be a true and complete copy of the original recorded
                  intervening assignment of mortgage will be promptly delivered to
                  the
                  Custodian upon receipt thereof by the Company; or (ii) in the case
                  of an
                  intervening assignment where a public recording office retains
                  the
                  original recorded intervening assignment or in the case where an
                  intervening assignment is lost after recordation in a public recording
                  office, a copy of such intervening assignment certified by such
                  public
                  recording office to be a true and complete copy of the original
                  recorded
                  intervening assignment.

              

      

       

      
        	 	
                7.

              	
                The
                  original mortgagee policy of title insurance or attorney’s opinion of
                  title and abstract of title.

              

      

       

      
        	 	
                8.

              	
                Any
                  security agreement, chattel mortgage or equivalent executed in
                  connection
                  with the Mortgage.

              

      

       

      
        	 	
                9.

              	
                The
                  original hazard insurance policy and, if required by law, flood
                  insurance
                  policy, in accordance with Section 4.10 of the
                  Agreement.

              

      

       

      
        	 	
                10.

              	
                Residential
                  loan application.

              

      

       

      
        	 	
                11.

              	
                Mortgage
                  Loan closing statement.

              

      

       

      
        	 	
                12.

              	
                Verification
                  of employment and income.

              

      

       

      
        	 	
                13.

              	
                Verification
                  of acceptable evidence of source and amount of
                  downpayment.

              

      

       

      
        	 	
                14.

              	
                Credit
                  report on the Mortgagor.

              

      

       

      
        	 	
                15.

              	
                Residential
                  appraisal report.

              

      

       

      
        	 	
                16.

              	
                Photograph
                  of the Mortgaged Property.

              

      

       

      
        	 	
                17.

              	
                Survey
                  of the Mortgaged Property.

              

      

       

      
        	 	
                18.

              	
                Copy
                  of each instrument necessary to complete identification of any
                  exception
                  set forth in the exception schedule in the title policy, i.e.,
                  map or
                  plat, restrictions, easements, sewer agreements, home association
                  declarations, etc.

              

      

       

      
        	 	
                19.

              	
                All
                  required disclosure statements.

              

      

       

      
        	 	
                20.

              	
                If
                  available, termite report, structural engineer’s report, water potability
                  and septic certification.

              

      

       

      
        	 	
                21.

              	
                Sales
                  contract.

              

      

       

      
        	 	
                22.

              	
                Tax
                  receipts, insurance premium receipts, ledger sheets, payment history
                  from
                  date of origination, insurance claim files, correspondence, current
                  and
                  historical computerized data files, and all other processing, underwriting
                  and closing papers and records which are customarily contained
                  in a
                  mortgage loan file and which are required to document the Mortgage
                  Loan or
                  to service the Mortgage Loan.

              

      

       

      In
        the
        event an Officer’s Certificate of the Company is delivered to the Custodian
        because of a delay caused by the public recording office in returning any
        recorded document, the Company shall deliver to the Custodian, within 180
        days
        of the related Closing Date, an Officer’s Certificate which shall (i) identify
        the recorded document, (ii) state that the recorded document has not been
        delivered to the Custodian due solely to a delay caused by the public recording
        office, (iii) state the amount of time generally required by the applicable
        recording office to record and return a document submitted for recordation,
        and
        (iv) specify the date the applicable recorded document will be delivered
        to the
        Custodian. The Company shall be required to deliver to the Custodian the
        applicable recorded document by the date specified in (iv) above. An extension
        of the date specified in (iv) above may be requested from the Purchaser,
        which
        consent shall not be unreasonably withheld.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        C

      

      MORTGAGE
        LOAN DOCUMENTS

       

      The
        Mortgage Loan Documents for each Mortgage Loan shall include each of the
        following items, which shall be delivered to the Custodian pursuant to Section
        2.01 of the Seller’s Warranties and Servicing Agreement to which this Exhibit is
        annexed (the “Agreement”):

       

      (a) the
        original Mortgage Note bearing all intervening endorsements, endorsed “Pay to
        the order of ___________, without recourse” and signed in the name of the
        Company by an authorized officer. To the extent that there is no room on
        the
        face of the Mortgage Note for endorsements, the endorsement may be contained
        on
        an allonge, if state law so allows. If the Mortgage Loan was acquired by
        the
        Company in a merger, the endorsement must be by “Countrywide Home Loans, Inc.,
        successor by merger to [name of predecessor].” If the Mortgage Loan was acquired
        or originated by the Company while doing business under another name, the
        endorsement must be by “Countrywide Home Loans, Inc., formerly known as
        [previous name]”;

       

      (b) the
        original of any guarantee executed in connection with the Mortgage
        Note;

       

      (c) the
        original Mortgage with evidence of recording thereon, and the original recorded
        power of attorney, if the Mortgage was executed pursuant to a power of attorney,
        with evidence of recording thereon;

       

      (d) the
        originals of all assumption, modification, consolidation or extension
        agreements, with evidence of recording thereon;

       

      (e) the
        original Assignment of Mortgage for each Mortgage Loan, in form and substance
        acceptable for recording, delivered in blank, or the original Assignment
        of
        Mortgage in recordable form into MERS. If the Mortgage Loan was acquired
        by the
        Company in a merger, the Assignment of Mortgage must be made by “Countrywide
        Home Loans, Inc., successor by merger to [name of predecessor].” If the Mortgage
        Loan was acquired or originated by the Company while doing business under
        another name, the Assignment of Mortgage must be by “Countrywide Home Loans,
        Inc., formerly known as [previous name];”

       

      (f) the
        originals of all intervening assignments of mortgage with evidence of recording
        thereon, including warehousing assignments, if any;

       

      (g) the
        original mortgagee title insurance policy;

       

      (h) such
        other documents as the Purchaser may require.

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

      EXHIBIT
        D-1

       

      

       

      CUSTODIAL
        ACCOUNT CERTIFICATION

       

      _____________________,
        200_

       

      Countrywide
        Home Loans, Inc. hereby certifies that it has established the account described
        below as a Custodial Account pursuant to Section 4.04 of the Seller’s Warranties
        and Servicing Agreement, dated as of September 1, 2002, Residential Adjustable
        Rate Mortgage Loans.

       

      
        	
                Title
                  of Account: Countrywide
                  Home Loans, Inc. in trust for the Purchaser

              	 	 
	 	 	 
	
                Account
                  Number: _______________

              	 	 
	 	 	 
	
                Address
                  of office or branch

                of
                  the Company at

              	 	 
	which
                Account is maintained:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	
                Countrywide
                  Home Loans, Inc.

              
	 	 	 
	 	 	
                Company

              

      

       

      
        	 	 	
                By:
                   

              	 
	 	 	Name:  	 
	 	 	Title:  	 

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        D-2

       

      

       

      CUSTODIAL
        ACCOUNT LETTER AGREEMENT

       

      _________________,
        200_

       

      To:  

       

      
        	 	 	 	 
	 	 	 	 
	 	 	 	 

      

      (the
        “Depository”)

       

      As
        Company under the Seller’s Warranties and Servicing Agreement, dated as of
        September 1, 2002, Residential Adjustable Rate Mortgage Loans (the “Agreement”),
        we hereby authorize and request you to establish an account, as a Custodial
        Account pursuant to Section 4.04 of the Agreement, to be designated as
“[Servicer] in trust for the Purchaser - Residential Adjustable Rate Mortgage
        Loans.” All deposits in the account shall be subject to withdrawal therefrom by
        order signed by the Company. You may refuse any deposit which would result
        in
        violation of the requirement that the account be fully insured as described
        below. This letter is submitted to you in duplicate. Please execute and return
        one original to us.

       

      [COUNTRYWIDE
        HOME LOANS, INC.]

       

      
        
          	 	 	
                  By:
                     

                	 
	 	 	Name:  	 
	 	 	Title:  	 
	 	 	Date:	 

        

      

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

       

      The
        undersigned, as Depository, hereby certifies that the above described account
        has been established under Account Number __________, at the office of the
        Depository indicated above, and agrees to honor withdrawals on such account
        as
        provided above. The full amount deposited at any time in the account will
        be
        insured by the Federal Deposit Insurance Corporation through the Bank Insurance
        Fund (“BIF”) or the Savings Association Insurance Fund (“SAIF”).

       

      
         

        
          
            	 	 	 
	 	 	
                    Depository

                  
	 	 	 	 
	 	 	
                    By:
                       

                  	 
	 	 	Name:  	 
	 	 	Title:  	 
	 	 	Date:	 

          

        

         

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

      EXHIBIT
        E-1

      

      ESCROW
        ACCOUNT CERTIFICATION

       

      __________________,
        200_

       

       

       

       

      Countrywide
        Home Loans, Inc. hereby certifies that it has established the account described
        below as an Escrow Account pursuant to Section 4.06 of the Seller’s Warranties
        and Servicing Agreement, dated as of September 1, 2002, Residential Adjustable
        Rate Mortgage Loans.

       

      
         

        
          	
                  Title
                    of Account: “Countrywide
                    Home Loans, Inc. in trust for the Purchaser and various
                    Mortgagors.”

                	 
	 	 	 
	
                  Account
                    Number: _______________

                	 	 
	 	 	 
	
                  Address
                    of office or branch

                  of
                    the Company at

                	 	 
	which
                  Account is maintained:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	
                  
                    [COUNTRYWIDE
                      HOME LOANS, INC.]

                  

                
	 	 	 

        

         

        
          	 	 	
                  By:
                     

                	 
	 	 	Name:  	 
	 	 	Title:  	 

        

        
 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      

      EXHIBIT
        E-2

      

      ESCROW
        ACCOUNT LETTER AGREEMENT

       

      ___________________,
        200_

       

      
        
          	To:	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

        

        (the
          “Depository”)

         

      

       

      As
        Company under the Seller’s Warranties and Servicing Agreement, dated as of
        September 1, 2002 Residential Adjustable Rate Mortgage Loans (the “Agreement”),
        we hereby authorize and request you to establish an account, as an Escrow
        Account pursuant to Section 4.07 of the Agreement, to be designated as
“[Servicer], in trust for the Purchaser - Residential Adjustable Rate Mortgage
        Loans.” All deposits in the account shall be subject to withdrawal therefrom by
        order signed by the Company. You may refuse any deposit which would result
        in
        violation of the requirement that the account be fully insured as described
        below. This letter is submitted to you in duplicate. Please execute and return
        one original to us.

       

       

      
         

        
          
            	 	 	
                    [COUNTRYWIDE
                      HOME LOANS, INC.]

                  
	 	 	 	 
	 	 	
                    By:
                       

                  	 
	 	 	Name:  	 
	 	 	Title:  	 
	 	 	Date:	 

          

        

         

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

       

      The
        undersigned, as Depository, hereby certifies that the above described account
        has been established under Account Number ______, at the office of the
        Depository indicated above, and agrees to honor withdrawals on such account
        as
        provided above. The full amount deposited at any time in the account will
        be
        insured by the Federal Deposit Insurance Corporation through the Bank Insurance
        Fund (“BIF”) or the Savings Association Insurance Fund (“SAIF”).

       

      
        
           

          
            
              	 	 	 
	 	 	
                      Depository

                    
	 	 	 	 
	 	 	
                      By:
                         

                    	 
	 	 	Name:  	 
	 	 	Title:  	 
	 	 	Date:	 

            

          

           

        

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

       

      EXHIBIT
        F

       

       

      MONTHLY
        REMITTANCE ADVICE

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

      EXHIBIT
        G

       

       

      ASSIGNMENT
        AND ASSUMPTION

       

      _________________,
        200_

       

      ASSIGNMENT
        AND ASSUMPTION, dated __________, between __________________________________,
        a
        ___________________ corporation having an office at __________________
        (“Assignor”) and _________________________________, a __________________
        corporation having an office at __________________ (“Assignee”):

       

      For
        and
        in consideration of the sum of TEN DOLLARS ($10.00) and other valuable
        consideration the receipt and sufficiency of which hereby are acknowledged,
        and
        of the mutual covenants herein contained, the parties hereto hereby agree
        as
        follows:

       

      1. The
        Assignor hereby grants, transfers and assigns to Assignee all of the right,
        title and interest of Assignor, as purchaser, in, to and under that certain
        Seller’s Warranties and Servicing Agreement, Residential Adjustable Rate
        Mortgage Loans (the “Seller’s Warranties and Servicing Agreement”), dated as of
        September 1, 2002, by and between EMC Mortgage Corporation (the “Purchaser”),
        and Countrywide Home Loans, Inc. (the “Company”), and the Mortgage Loans
        delivered thereunder by the Company to the Assignor.

       

      2. The
        Assignor warrants and represents to, and covenants with, the Assignee
        that:

       

      a. The
        Assignor is the lawful owner of the Mortgage Loans with the full right to
        transfer the Mortgage Loans free from any and all claims and encumbrances
        whatsoever;

       

      b. The
        Assignor has not received notice of, and has no knowledge of, any offsets,
        counterclaims or other defenses available to the Company with respect to
        the
        Seller’s Warranties and Servicing Agreement or the Mortgage Loans;

       

      c. The
        Assignor has not waived or agreed to any waiver under, or agreed to any
        amendment or other modification of, the Seller’s Warranties and Servicing
        Agreement, the Custodial Agreement or the Mortgage Loans, including without
        limitation the transfer of the servicing obligations under the Seller’s
        Warranties and Servicing Agreement. The Assignor has no knowledge of, and
        has
        not received notice of, any waivers under or amendments or other modifications
        of, or assignments of rights or obligations under, the Seller’s Warranties and
        Servicing Agreement or the Mortgage Loans; and

       

      d. Neither
        the Assignor nor anyone acting on its behalf has offered, transferred, pledged,
        sold or otherwise disposed of the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security to, or solicited any offer to buy or
        accept
        a transfer, pledge or other disposition of the Mortgage Loans, any interest
        in
        the Mortgage Loans or any other similar security from, or otherwise approached
        or negotiated with respect to the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security with, any person in any manner, or made
        any
        general solicitation by means of general advertising or in any other manner,
        or
        taken any other action which would constitute a distribution of the Mortgage
        Loans under the Securities Act of 1933 (the “33 Act”) or which would render the
        disposition of the Mortgage Loans a violation of Section 5 of the 33 Act
        or
        require registration pursuant thereto.

       

      3. The
        Assignee warrants and represents to, and covenants with, the Assignor and
        the
        Company that:

       

      a. The
        Assignee agrees to be bound, as Purchaser, by all of the terms, covenants
        and
        conditions of the Seller’s Warranties and Servicing Agreement, the Mortgage
        Loans and the Custodial Agreement, and from and after the date hereof, the
        Assignee assumes for the benefit of each of the Company and the Assignor
        all of
        the Assignor’s obligations as Purchaser thereunder;

       

      b. The
        Assignee understands that the Mortgage Loans have not been registered under
        the
        33 Act or the securities laws of any state;

       

      c. The
        purchase price being paid by the Assignee for the Mortgage Loans are in excess
        of $250,000 and will be paid by cash remittance of the full purchase price
        within 60 days of the sale;

       

      d. The
        Assignee is acquiring the Mortgage Loans for investment for its own account
        only
        and not for any other person. In this connection, neither the Assignee nor
        any
        Person authorized to act therefor has offered the Mortgage Loans by means
        of any
        general advertising or general solicitation within the meaning of Rule 502(c)
        of
        U.S. Securities and Exchange Commission Regulation D, promulgated under the
        1933
        Act;

       

      e. The
        Assignee considers itself a substantial, sophisticated institutional investor
        having such knowledge and experience in financial and business matters that
        it
        is capable of evaluating the merits and risks of investment in the Mortgage
        Loans;

       

      f. The
        Assignee has been furnished with all informa-tion regarding the Mortgage
        Loans
        that it has requested from the Assignor or the Company;

       

      g. Neither
        the Assignee nor anyone acting on its behalf has offered, transferred, pledged,
        sold or otherwise disposed of the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security to, or solicited any offer to buy or
        accept
        a transfer, pledge or other disposition of the Mortgage Loans, any interest
        in
        the Mortgage Loans or any other similar security from, or otherwise approached
        or negotiated with respect to the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security with, any person in any manner which
        would
        constitute a distribution of the Mortgage Loans under the 33 Act or which
        would
        render the disposition of the Mortgage Loans a violation of Section 5 of
        the 33
        Act or require registration pursuant thereto, nor will it act, nor has it
        authorized or will it authorize any person to act, in such manner with respect
        to the Mortgage Loans; and

       

      h. Either:
        (1) the Assignee is not an employee benefit plan (“Plan”) within the meaning of
        section 3(3) of the Employee Retirement Income Security Act of 1974, as amended
        (“ERISA”) or a plan (also “Plan”) within the meaning of section 4975(e)(1) of
        the Internal Revenue Code of 1986 (“Code”), and the Assignee is not directly or
        indirectly purchasing the Mortgage Loans on behalf of, investment manager
        of, as
        named fiduciary of, as Trustee of, or with assets of, a Plan; or (2) the
        Assignee’s purchase of the Mortgage Loans will not result in a prohibited
        transaction under section 406 of ERISA or section 4975 of the Code.

       

      i. The
        Assignee’s address for purposes of all notices and correspondence related to the
        Mortgage Loans and the Seller’s Warranties and Servicing Agreement
        is:

       

       

      
        	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

      

       

       

       

      Attention:
        

       

      The
        Assignee’s wire transfer instructions for purposes of all remittances and
        payments related to the Mortgage Loans and the Seller’s Warranties and Servicing
        Agreement are:

       

       

      
        
          	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

        

         

         

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have caused this Assignment and Assumption to
        be
        executed by their duly authorized officers as of the date first above
        written.

      

      
        	 	 	 	 	 
	
                Assignor

              	 	 	
                Assignee

              	 
	 	 	 	 	 
	By: 	 	 	By:  	 
	
                Its: 

              	 	 	
                Its:
                   

              	 

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

       

      EXHIBIT
        H

       

      UNDERWRITING
        GUIDELINES

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        I

       

      ACKNOWLEDGMENT
        AGREEMENT

       

      On
        this
        ____ day of ____________, 200_, EMC Mortgage Corporation, (the “Purchaser”) as
        the Purchaser under that certain Seller’s Warranties and Servicing Agreement
        dated as of September 1, 2002, (the “Agreement”), does hereby contract with
        Countrywide Home Loans Inc. (the “Company”) as Company under the Agreement, for
        the servicing responsibilities related to the Mortgage Loans listed on the
        related Mortgage Loan Schedule attached hereto. The Company hereby accepts
        the
        servicing responsibilities transferred hereby and on the date hereof assumes
        all
        servicing responsibilities related to the Mortgage Loans identified on the
        related Mortgage Loan Schedule all in accordance with the Agreement. The
        contents of each Servicing File required to be delivered to service the Mortgage
        Loans pursuant to the Agreement have been or shall be delivered to the Company
        by the Purchaser in accordance with the terms of the Agreement.

       

      With
        respect to the Mortgage Loans made subject to the Agreement hereby, the related
        Closing Date shall be ___________________. 

       

      All
        other
        terms and conditions of this transaction shall be governed by the
        Agreement.

       

      Capitalized
        terms used herein and not otherwise defined shall have the meanings set forth
        in
        the Agreement.

       

      This
        Acknowledgment Agreement may be executed simultaneously in any number of
        counterparts. Each counterpart shall be deemed to be an original, and all
        such
        counterparts shall constitute one and the same instrument.

       

      IN
        WITNESS WHEREOF, the Purchaser and the Company have caused their names to
        be
        signed hereto by their respective officers thereunto duly authorized as of
        the
        day and year first above written.

       

      
        
           

          
            
              	 	
                      
                        PURCHASER:
                          

                        EMC
                          MORTGAGE CORPORATION 

                      

                    	 
	 	 	 	 
	 	
                      By:
                         

                    	 	 
	 	Name:  	 	 
	 	Title:  	 	 

            

          

           

        

      

      
        
           

          
            
              	 	
                      
                        
                          SELLER:
                            

                          COUNTRYWIDE
                            HOME LOANS, INC. 

                        

                      

                    	 
	 	 	 	 
	 	
                      By:
                         

                    	 	 
	 	Name:  	 	 
	 	Title:  	 	 

            

          

           

        

      

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      H-2

     

    SERVICING
      AGREEMENT

     

     

    GMAC
      MORTGAGE CORPORATION

     

    
      FORM
        OF
        GMAC SERVICING AGREEMENT

      
        
 

        
          
            

          

        EMC
          MORTGAGE CORPORATION

        Owner

        

        

        GMAC
          MORTGAGE CORPORATION

        Servicer

         

        

        SERVICING
          AGREEMENT

        

        Dated
          as
          of May 1, 2001

        

        

          
            

          

           

          
            
              
                 

              

              
              

            

            
              
              

              
                

              

            

            
              
              

              
              

            

          

        THIS
          IS A
          SERVICING AGREEMENT, dated as of May 1, 2001, and is executed between EMC
          Mortgage Corporation (the "Owner") and GMAC Mortgage Corporation (the
          "Servicer").

        

        W
          I T N E
          S S E T H :

        

        WHEREAS,
          the Owner is the owner of the Mortgage Loans;

        

        WHEREAS,
          the Owner and the Servicer wish to prescribe the permanent management,
          servicing
          and control of the Mortgage Loans;

        

        NOW,
          THEREFORE, in consideration of the mutual agreements hereinafter set forth,
          and
          for other good and valuable consideration, the receipt and adequacy of
          which is
          hereby acknowledged, the Owner and the Servicer agree as follows:

        

        

        ARTICLE
          I

        DEFINITIONS

        Section
          1.01 Defined
          Terms

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

        

        Accepted
          Servicing Practices:
          With
          respect to any Mortgage Loan, those mortgage servicing practices (including
          collection procedures) that are in accordance with the Fannie Mae
          Guide.

        

        Adjustment
          Date:
          As to
          each ARM Loan, the date on which the Mortgage Interest Rate is adjusted
          in
          accordance with the terms of the related Mortgage Note.

        

        Agreement:
          This
          Servicing Agreement including all exhibits hereto, amendments hereof and
          supplements hereto.

        

        ARM
          Loans:
          First
          lien, conventional, 1-4 family residential Mortgage Loans with interest
          rates
          which adjust from time to time in accordance with the related Index and
          are
          subject to Periodic Rate Caps and Lifetime Rate Caps and which do not permit
          conversion to fixed interest rates.

        

        BIF:
          The
          Bank Insurance Fund, or any successor thereto.

        

        Business
          Day:
          Any day
          other than (i) a Saturday or Sunday, or (ii) a legal holiday in the States
          of
          New York, Iowa or the Commonwealth of Pennsylvania, or (iii) a day on which
          banks in the States of New York, Iowa or Pennsylvania are authorized or
          obligated by law or executive order to be closed.

        

        Code:
          The
          Internal Revenue Code of 1986, as it may be amended from time to time,
          or any
          successor statute thereto, and applicable U.S. Department of the Treasury
          regulations issued pursuant thereto.

        

        Condemnation
          Proceeds:
          All
          awards or settlements in respect of a Mortgaged Property, whether permanent
          or
          temporary, partial or entire, by exercise of the power of eminent domain
          or
          condemnation, to the extent not required to be released to a Mortgagor
          in
          accordance with the terms of the related Mortgage Loan Documents.

        

        Custodial
          Account:
          The
          separate demand account or accounts created and maintained pursuant to
          Section
          4.04 which shall be entitled "GMAC Mortgage Corporation Custodial Account
          in
          trust for [Owner], Owner of Whole Loan Mortgages and various Mortgagors"
          and
          shall be established at a Qualified Depository, each of which accounts
          shall in
          no event contain funds in excess of the FDIC insurance limits.

        

        Custodian:
          Wells
          Fargo Bank Minnesota, N.A., or such other custodian as Owner shall
          designate. 

        

        Cut-off
          Date:
          As
          identified on the related Confirmation.

        

        Determination
          Date:
          The
          15th day (or if such 15th day is not a Business Day, the Business Day
          immediately preceding such 15th day) of the month of the Remittance
          Date.

        

        Due
          Date:
          Each
          day on which payments of principal and interest are required to be paid
          in
          accordance with the terms of the related Mortgage Note, exclusive of any
          days of
          grace.

        

        Due
          Period:
          With
          respect to any Remittance Date, the period commencing on the second day
          of the
          month preceding the month of such Remittance Date and ending on the first
          day of
          the month of the Remittance Date.

        

        Effective
          Date:
          As
          identified on the related Confirmation.

        

        Escrow
          Account:
          The
          separate trust account or accounts created and maintained pursuant to Section
          4.06 which shall be entitled "GMAC Mortgage Corporation Escrow Account,
          in trust
          for [Owner], Owner of Whole Loan Mortgages and various Mortgagors" and
          shall be
          established at a Qualified Depository, each of which accounts shall in
          no event
          contain funds in excess of the FDIC insurance limits.

        

        Escrow
          Payments:
          With
          respect to any Mortgage Loan, the amounts constituting ground rents, taxes,
          assessments, water rates, sewer rents, municipal charges, mortgage insurance
          premiums, fire and hazard insurance premiums, condominium charges, and
          any other
          payments required to be escrowed by the Mortgagor with the mortgagee pursuant
          to
          the Mortgage or any other document.

        

        Event
          of Default:
          Any one
          of the conditions or circumstances enumerated in Section 9.01.

        

        Fannie
          Mae:
          Fannie
          Mae, or any successor thereto.

        

        Fannie
          Mae Guide:
          The
          Fannie Mae Selling Guide and the Fannie Mae Servicing Guide and all amendments
          or additions thereto.

        

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

        

        Fidelity
          Bond:
          A
          fidelity bond to be maintained by the Servicer pursuant to Section
          4.12.

        

        FIRREA:
          The
          Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as
          amended
          from time to time.

        

        Freddie
          Mac:
          Freddie
          Mac, or any successor thereto.

        

        Freddie
          Mac Guide:
          The
          Freddie Mac Selling Guide and the Freddie Mac Servicing Guide and all amendments
          or additions thereto.

        

        Full
          Principal Prepayment:
          A
          Principal Prepayment made by a Mortgagor of the entire principal balance
          of a
          Mortgage Loan.

        

        
          
            GAAP:
              Generally accepted accounting procedures, consistently
              applied.

          

        

        

        HUD:
          The
          United States Department of Housing and Urban Development or any
          successor.

        

        Index:
          With
          respect to each ARM Loan, on the related Adjustment Date, the index used
          to
          determine the Mortgage Interest Rate on each such ARM Loan.

        

        Insurance
          Proceeds:
          With
          respect to each Mortgage Loan, proceeds of insurance policies insuring
          the
          Mortgage Loan or the related Mortgaged Property.

        

        Lifetime
          Rate Cap:
          With
          respect to each ARM Loan, the maximum Mortgage Interest Rate over the term
          of
          such Mortgage Loan, as specified in the related Mortgage Note.

        

        Liquidation
          Proceeds:
          Cash
          received in connection with the liquidation of a defaulted Mortgage Loan,
          whether through the sale or assignment of such Mortgage Loan, trustee's
          sale,
          foreclosure sale or otherwise, other than amounts received following the
          acquisition of an REO Property pursuant to Section 4.13.

        

        Margin:
          With
          respect to each ARM Loan, the fixed percentage amount set forth in each
          related
          Mortgage Note which is added to the Index in order to determine the related
          Mortgage Interest Rate.

        

        Monthly
          Advance:
          The
          aggregate of the advances made by the Servicer on any Remittance Date pursuant
          to Section 5.03.

        

        Monthly
          Payment:
          With
          respect to each Mortgage Loan, the scheduled monthly payment of principal
          and
          interest thereon which is payable by the related Mortgagor under the related
          Mortgage Note.

        

        Mortgage:
          The
          mortgage, deed of trust or other instrument securing a Mortgage Note which
          creates a first lien on an unsubordinated estate in fee simple in real
          property
          securing the Mortgage Note.

        

        Mortgage
          Interest Rate:
          The
          annual rate at which interest accrues on any Mortgage Loan in accordance
          with
          the provisions of the related Mortgage Note, and in the case of an ARM
          Loan, as
          adjusted from time to time on each Adjustment Date for such Mortgage Loan
          to
          equal the Index for such Mortgage Loan plus the Margin for such Mortgage
          Loan,
          and subject to the limitations on such interest rate imposed by the Periodic
          Rate Cap and the Lifetime Rate Cap.

        

        Mortgage
          Loan:
          An
          individual Mortgage Loan described herein, and as further identified on
          the
          Mortgage Loan Schedule, which Mortgage Loan includes without limitation
          the
          Mortgage Loan Documents, the Monthly Payments, Principal Prepayments,
          Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds, REO Disposition
          Proceeds, and all other rights, benefits, proceeds and obligations arising
          from
          or in connection with such Mortgage Loan.

        

        Mortgage
          Loan Documents:
          The
          original mortgage loan legal documents held by the Custodian.

        

        Mortgage
          Loan Remittance Rate:
          With
          respect to each Mortgage Loan, the annual rate of interest remitted to
          the
          Owner, which shall be equal to the related Mortgage Interest Rate minus
          the
          Servicing Fee Rate.

        

        Mortgage
          Loan Schedule:
          The
          schedule of Mortgage Loans attached hereto as Exhibit
          A,
          such
          schedule being acceptable to the Owner and the Servicer.

        

        Mortgage
          Note:
          The
          note or other evidence of the indebtedness of a Mortgagor secured by a
          Mortgage.

        

        Mortgaged
          Property:
          The
          underlying real property securing repayment of a Mortgage Note, consisting
          of a
          single parcel of real estate considered to be real estate under the laws
          of the
          State in which such real property is located, which may include condominium
          units and planned unit developments, improved by a residential
          dwelling.

        

        Mortgagor:
          The
          obligor on a Mortgage Note. The Mortgagor is a natural person who is a
          party to
          the Mortgage Note and Mortgage in an individual capacity.

        

        Nonrecoverable
          Advance:
          Any
          advance previously made by the Servicer pursuant to Section 5.03 or any
          expenses
          incurred pursuant to Section 4.08 which, in the good faith judgment of
          the
          Servicer, may not be ultimately recoverable by the Servicer from Liquidation
          Proceeds. The determination by the Servicer that is has made a Nonrecoverable
          Advance, shall be evidenced by an Officer’s Certificate of the Servicer
          delivered to the Owner and detailing the reasons for such
          determination.

        

        OCC:
          Office
          of the Comptroller of the Currency, its successors and assigns.

        

        Officers'
          Certificate:
          A
          certificate signed by the Chairman of the Board, the Vice Chairman of the
          Board,
          the President, a Senior Vice President or a Vice President or by the Treasurer
          or the Secretary or one of the Assistant Treasurers or Assistant Secretaries
          of
          the Servicer, and delivered to the Owner as required by this
          Agreement.

        

        Opinion
          of Counsel:
          A
          written opinion of counsel, who may be an employee of the party on behalf
          of
          whom the opinion is being given, reasonably acceptable to the
          Owner.

        

          OTS:
          Office
          of Thrift Supervision, its successors and assigns.

        

        Owner:
          EMC
          Mortgage Corporation, its successors in interest and assigns.

        

        Partial
          Principal Prepayment:
          A
          Principal Prepayment by a Mortgagor of a partial principal balance of a
          Mortgage
          Loan.

        

        Pass-Through
          Transfer:
          The
          sale or transfer of same or all of the Mortgage Loans to a trust as part
          of a
          publicly issued or privately placed, rated or unrated Mortgage pass-through
          transaction.

        

        Periodic
          Rate Cap:
          With
          respect to each ARM Loan, the maximum increase or decrease in the Mortgage
          Interest Rate on any Adjustment Date.

        

        Permitted
          Investments:
          Any one
          or more of the following obligations or securities:

        

        (i) direct
          obligations of, and obligations fully guaranteed by the United States of
          America
          or any agency or instrumentality of the United States of America the obligations
          of which are backed by the full faith and credit of the United States of
          America; pro-vided that obligations of Freddie Mac or Fannie Mae shall
          be
          Per-mitted Invest-ments only if, at the time of investment, they are rated
          in
          one of the two highest rating categories by Standard & Poor's Rating
          Services, a division of The McGraw-Hill Companies Inc., Moody's Investors
          Service, Inc. and Fitch IBCA Inc.;

        

        (ii) (a)
          demand or time deposits, federal funds or bankers' acceptances issued by
          any
          depository institu-tion or trust company incorporated under the laws of
          the
          United States of America or any state thereof and subject to supervision
          and
          examination by federal and/or state banking authorities, provided that
          the
          commercial paper and/or the short-term deposit rating and/or the long-term
          unsecured debt obligations or deposits of such depository institution or
          trust
          company at the time of such investment or contractual commitment providing
          for
          such investment are rated in one of the two highest rating categories by
          Standard & Poor's Rating Services, a division of The McGraw-Hill Companies
          Inc., Moody's Investors Service, Inc. and Fitch IBCA Inc. and (b) any other
          demand or time deposit or certificate of deposit that is fully insured
          by the
          Federal Deposit Insurance Cor-poration;

        

        (iii) repurchase
          obligations with respect to (a) any security described in clause (i) above
          or
          (b) any other security issued or guaranteed by an agency or instrumen-tality
          of
          the United States of America, the obligations of which are backed by the
          full
          faith and credit of the United States of America, in either case entered
          into
          with a depository institution or trust company (acting as principal) described
          in clause (ii)(a) above;

        

        (iv) securities
          bearing interest or sold at a discount issued by any corporation incorporated
          under the laws of the United States of America or any state thereof that
          are
          rated in one of the two highest rating categories by Standard & Poor's
          Rating Services, a division of The McGraw-Hill Companies Inc., Moody's
          Investors
          Service, Inc. and Fitch IBCA Inc. at the time of such in-vestment or contractual
          commitment providing for such investment; provided,
          however,
          that
          securities issued by any particular corporation will not be Permitted
          Investments to the extent that investments therein will cause the then
          outstanding principal amount of secur-ities issued by such corporation
          and held
          as Permitted Investments to exceed 10% of the aggregate outstand-ing principal
          balances and amounts of all the Permitted Investments;

        

        (v) commercial
          paper (including both non-interest-bearing discount obligations and
          interest-bearing obliga-tions payable on demand or on a specified date
          not more
          than one year after the date of issuance there-of) which are rated in one
          of the
          two highest rating categories by Standard & Poor's Rating Services, a
          division of The McGraw-Hill Companies Inc., Moody's Investors Service,
          Inc. and
          Fitch IBCA Inc. at the time of such investment;

        

        (vi) any
          other
          demand, money market or time deposit, obligation, security or investment
          as may
          be acceptable to each of Standard & Poor's Rating Services, a division of
          The McGraw-Hill Companies, Inc., Moody's Investors Service, Inc. and Fitch
          IBCA
          Inc.;

        

        (vii) any
          money
          market funds the collateral of which consists of obligations fully guaranteed
          by
          the United States of America or any agency or instru-ment-al-ity of the
          United
          States of America the obligations of which are backed by the full faith
          and
          credit of the United States of America (which may include repurchase obligations
          secured by collateral described in clause (i)) and other securities and
          which
          money market funds are rated in one of the two highest rating categories
          by
          Standard & Poor's Rating Services, a division of The McGraw-Hill Companies
          Inc., Moody's Investors Service, Inc. and Fitch IBCA Inc.; and

        

        (viii) GMAC
          Variable Denomination Adjustable Rate Demand Notes constituting unsecured,
          senior debt obligations of General Motors Acceptance Corporation as outlined
          in
          the prospectus dated June 17, 1998 and rated by Moody’s in its highest
          short-term rating category available and rated at least D-1 by
          Fitch;

         

        provided,
          however,
          that no
          instrument or security shall be a Permitted Investment if such instrument
          or
          security evidences a right to receive only interest payments with respect
          to the
          ob-li-ga-tions underlying such instrument or if such security provides
          for
          payment of both principal and interest with a yield to matur-ity in excess
          of
          120% of the yield to maturity at par.

        

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

         

        Prepayment
          Interest Shortfall:
          The sum
          of the differences between interest actually received in a Due Period as
          a
          result of a full or partial prepayment or other unscheduled receipt of
          principal
          (including as a result of a liquidation) on each Mortgage Loan as to which
          such
          a payment is received and the interest portion of the Monthly Payment of
          such
          Mortgage Loan scheduled to be due at the applicable Mortgage Loan Remittance
          Rate; provided, however, Prepayment Interest Shortfalls shall not include
          Full
          Principal Prepayments received on or before the 15th
          day of
          the month in which a Remittance Date occurs which are remitted by the Servicer
          to the Owner on such Remittance Date.

        

        Primary
          Mortgage Insurance Policy:
          Each
          primary policy of mortgage insurance, or any replacement policy therefor
          obtained by the Servicer pursuant to Section 4.08.

        

        Prime
          Rate:
          The
          prime rate of U.S. money center banks as published from time to time in
          

        The
          Wall Street Journal.

        

        Principal
          Prepayment:
          Any
          payment or other recovery of principal on a Mortgage Loan, full or partial,
          which is received in advance of its scheduled Due Date, including any prepayment
          penalty or premium thereon and which is not accompanied by an amount of
          interest
          representing scheduled interest due on any date or dates in any month or
          months
          subsequent to the month of prepayment.

        

        Qualified
          Appraiser:
          An
          appraiser, duly appointed by the Servicer, who had no interest, direct
          or
          indirect in the Mortgaged Property or in any loan made on the security
          thereof,
          and whose compensation is not affected by the approval or disapproval of
          the
          Mortgage Loan, which appraiser and the appraisal made by such appraiser
          both
          satisfy the requirements of Title XI of FIRREA and the regulations promulgated
          thereunder, all as in effect on the date the Mortgage Loan was
          originated.

        

        Qualified
          Depository:
          (a) The
          Custodian or (b) a depository, the accounts of which are insured by the
          FDIC
          through the BIF or the SAIF and the short term debt ratings and the long
          term
          deposit ratings of which are rated in one of the two highest rating categories
          by Standard & Poor's Ratings Services, a division of The McGraw-Hill
          Companies Inc., Moody's Investors Service, Inc., Fitch IBCA Duff &
Phelps.

        

        Qualified
          Insurer:
          An
          insurance company duly qualified as such under the laws of the states in
          which
          the Mortgaged Properties are located, duly authorized and licensed in such
          states to transact the applicable insurance business and to write the insurance
          provided, approved as an insurer by Fannie Mae and Freddie Mac. 

        

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

        

        REMIC
          Provisions:
          The
          provisions of the Federal income tax law relating to a REMIC, which appear
          at
          Section 860A through 860G of Subchapter M of Chapter 1, Subtitle A of the
          Code,
          and related provisions, and regulations, rulings or pronouncements promulgated
          thereunder, as the foregoing may be in effect from time to time.

        

        Remittance
          Date:
          The
          18th day of any month, or if such 18th day is not a Business Day, the first
          Business Day immediately preceding such 18th day.

        

        REO
          Disposition:
          The
          final sale by the Servicer of any REO Property.

        

        REO
          Disposition Proceeds:
          Amounts
          received by the Servicer in connection with a related REO
          Disposition.

        

        REO
          Property:
          A
          Mortgaged Property acquired by the Servicer on behalf of the Owner as described
          in Section 4.13.

        
        

        
          
            SAIF:
              The
              Savings Association Insurance Fund, or any successor
              thereto.

          

        

        Servicer:
          GMAC
          Mortgage Corporation, or any of its successors in interest or any successor
          under this Agreement appointed as herein provided.

        

        Servicing
          Advances:
          All
          customary, reasonable and necessary "out of pocket" costs and expenses
          (including reasonable attorneys' fees and disbursements) incurred prior
          to, on
          and subsequent to the Effective Date in the performance by the Servicer
          of its
          servicing obligations relating to each Mortgage Loan, including, but not
          limited
          to, the cost of (a) the preservation, restoration and protection of the
          Mortgaged Property, (b) any enforcement, administrative or judicial proceedings,
          or any legal work or advice specifically related to servicing the Mortgage
          Loans, including but not limited to, foreclosures, bankruptcies, condemnations,
          drug seizures, elections, foreclosures by subordinate or superior lienholders,
          and other legal actions incidental to the servicing of the Mortgage Loans
          (provided that such expenses are reasonable and that the Servicer specifies
          the
          Mortgage Loan(s) to which such expenses relate), (c) the management and
          liquidation of the Mortgaged Property if the Mortgaged Property is acquired
          in
          full or partial satisfaction of the Mortgage, (d) taxes, assessments, water
          rates, sewer rates and other charges which are or may become a lien upon
          the
          Mortgaged Property, and Primary Mortgage Insurance Policy premiums and
          fire and
          hazard insurance coverage and (e) compliance with the obligations under
          Section
          4.08.

        

        Servicing
          Fee:
          With
          respect to each Mortgage Loan, the amount of the annual fee the Owner shall
          pay
          to the Servicer, which shall, for a period of one full month, be equal
          to
          one--twelfth of the product of (a) the applicable Servicing Fee Rate and
          (b) the
          outstanding principal balance of such Mortgage Loan. Such fee shall be
          payable
          monthly, computed on the basis of the same principal amount and period
          respecting which any related interest payment on a Mortgage Loan is computed.
          The obligation of the Owner to pay the Servicing Fee is limited to, and
          the
          Servicing Fee is payable solely from, the interest portion (not including
          recoveries of interest from Liquidation Proceeds or otherwise) of such
          Monthly
          Payment collected by the Servicer, or as otherwise provided under Section
          4.05.

        

        Servicing
          Fee Rate:
          The
          Servicing Fee Rate shall be a rate per annum equal to 0.25%.

        

        Servicing
          File:
          The
          documents, records and other items pertaining to a particular Mortgage
          Loan, and
          any additional documents relating to such Mortgage Loan as are in, or as
          may
          from time to time come into, the Servicer's possession.

        

        Servicing
          Officer:
          Any
          officer of the Servicer involved in, or responsible for, the administration
          and
          servicing of the Mortgage Loans whose name appears on a list of servicing
          officers furnished by the Servicer to the Owner upon request, as such list
          may
          from time to time be amended.

        

        Stated
          Principal Balance:
          As to
          each Mortgage Loan as of any date of determination, (i) the principal balance
          of
          such Mortgage Loan after giving effect to payments of principal due, whether
          or
          not received, minus (ii) all amounts previously distributed to the Owner
          with
          respect to the Mortgage Loan representing payments or recoveries of principal
          or
          advances in lieu thereof.

        

        Whole
          Loan Transfer:
          The
          sale or transfer of some or all of the ownership interest in the Mortgage
          Loans
          by the Owner to one or more third parties in whole loan or participation
          format,
          which third party may be Fannie Mae or Freddie Mac.

         

        ARTICLE
          II

        SERVICING
          OF MORTGAGE LOANS;

        POSSESSION
          OF SERVICING FILES;

        BOOKS
          AND RECORDS;

        DELIVERY
          OF MORTGAGE LOAN DOCUMENTS

        

        
          	 	
                  Section
                    2.01 Servicing
                    of Mortgage Loans.

                

        

        

        From
          and
          after the Effective Date, the Servicer does hereby agree to service the
          Mortgage
          Loans, but subject to the terms of this Agreement. The rights of the Owner
          to
          receive payments with respect to the Mortgage Loans shall be as set forth
          in
          this Agreement.

        

        Section
          2.02 Maintenance
          of Servicing Files.

        

        The
          Servicer shall maintain a Servicing File consisting of all documents necessary
          to service the Mortgage Loans. The possession of each Servicing File by
          the
          Servicer is for the sole purpose of servicing the Mortgage Loan, and such
          retention and possession by the Servicer is in a custodial capacity only.
          The
          Servicer acknowledges that the ownership of each Mortgage Loan, including
          the
          Note, the Mortgage, all other Mortgage Loan Documents and all rights, benefits,
          proceeds and obligations arising therefrom or in connection therewith,
          has been
          vested in the Owner. All rights arising out of the Mortgage Loans including,
          but
          not limited to, all funds received on or in connection with the Mortgage
          Loans
          and all records or documents with respect to the Mortgage Loans prepared
          by or
          which come into the possession of the Servicer shall be received and held
          by the
          Servicer in trust for the exclusive benefit of the Owner as the owner of
          the
          related Mortgage Loans. Any portion of the related Servicing Files retained
          by
          the Servicer shall be appropriately identified in the Servicer's computer
          system
          to clearly reflect the ownership of the related Mortgage Loans by the Owner.
          The
          Servicer shall release its custody of the contents of the related Servicing
          Files only in accordance with written instructions of the Owner, except
          when
          such release is required as incidental to the Servicer's servicing of the
          Mortgage Loans, such written instructions shall not be required.

        

        Section
          2.03 Books
          and Records.

        

        The
          Servicer shall be responsible for maintaining, and shall maintain, a complete
          set of books and records for the Mortgage Loans which shall be appropriately
          identified in the Servicer's computer system to clearly reflect the ownership
          of
          the Mortgage Loan by the Owner. In particular, the Servicer shall maintain
          in
          its possession, available for inspection by the Owner, or its designee
          and shall
          deliver to the Owner upon demand, evidence of compliance with all federal,
          state
          and local laws, rules and regulations, and requirements of Fannie Mae or
          Freddie
          Mac, as applicable, including but not limited to documentation as to the
          method
          used in determining the applicability of the provisions of the Flood Disaster
          Protection Act of 1973, as amended, to the Mortgaged Property, documentation
          evidencing insurance coverage and eligibility of any condominium project
          for
          approval by Fannie Mae and periodic inspection reports as required by Section
          4.13. To the extent that original documents are not required for purposes
          of
          realization of Liquidation Proceeds or Insurance Proceeds, documents maintained
          by the Servicer may be in the form of microfilm or microfiche or such other
          reliable means of recreating original documents, including but not limited
          to,
          optical imagery techniques so long as the Servicer complies with the
          requirements of the Fannie Mae Guide.

        

        The
          Servicer shall maintain with respect to each Mortgage Loan and shall make
          available for inspection by any Owner or its designee the related Servicing
          File
          (or copies thereof) upon reasonable request during the time the Owner retains
          ownership of a Mortgage Loan and thereafter in accordance with applicable
          laws
          and regulations.

        

        
          	 	
                  Section
                    2.04. Transfer
                    of Mortgage Loans.

                

        

        

        The
          Servicer shall keep at its servicing office books and records in which,
          subject
          to such reasonable regulations as it may prescribe from time to time, the
          Servicer shall note transfers of Mortgage Loans. No transfer of a Mortgage
          Loan
          may be made unless such transfer is in compliance with the terms hereof.
          For the
          purposes of this Agreement, the Servicer shall be under no obligation to
          deal
          with any person with respect to this Agreement or any Mortgage Loan unless
          a
          notice of the transfer of such Mortgage Loan has been delivered to the
          Servicer
          in accordance with this Section 2.04. The Owner may, subject to the terms
          of
          this Agreement, sell and transfer one or more of the Mortgage Loans in
          accordance with Sections 10.02 and 11.12, provided,
          however, that the transferee will not be deemed to be an Owner hereunder
          binding
          upon the Servicer unless such transferee shall agree in writing to be bound
          by
          the terms of this Agreement and an assignment and assumption of this Agreement
          reasonably acceptable to the Servicer. The Owner also shall advise the
          Servicer
          in writing of the transfer. Upon receipt of notice of the permitted transfer,
          the Servicer shall mark its books and records to reflect the ownership
          of the
          Mortgage Loans of such assignee, and shall release the previous Owner from
          its
          obligations hereunder with respect to the Mortgage Loans sold or
          transferred.

        

        Section
          2.05 Delivery
          of Mortgage Loan Documents.

        

        The
          Servicer shall forward to the Custodian on behalf of the Owner original
          documents evidencing an assumption, modification, consolidation or extension
          of
          any Mortgage Loan entered into in accordance with Section 4.01 or 6.01
          promptly
          after their execution; provided, however, that the Servicer shall provide
          the
          Custodian on behalf of the Owner with a certified true copy of any such
          document
          submitted for recordation promptly after its execution, and shall provide
          the
          original of any document submitted for recordation or a copy of such document
          certified by the appropriate public recording office to be a true and complete
          copy of the original within 180 days of its execution. If delivery is not
          completed within 180 days solely due to delays in making such delivery
          by reason
          of the fact that such documents shall not have been returned by the appropriate
          recording office, the Servicer shall continue to use its best efforts to
          effect
          delivery as soon as possible thereafter.

        

        From
          time
          to time the Servicer may have a need for Mortgage Loan Documents to be
          released
          by the Custodian. If the Servicer shall require any of the Mortgage Loan
          Documents, the Servicer shall notify the Custodian in writing of such request
          in
          the form of the request for release attached hereto as Exhibit
          D.
          The
          Custodian shall deliver to the Servicer promptly, and in no event later
          than
          within five (5) Business Days, any requested Mortgage Loan Document previously
          delivered to the Custodian, provided that such documentation is promptly
          returned to the Custodian when the Servicer no longer requires possession
          of the
          document, and provided that during the time that any such documentation
          is held
          by the Servicer, such possession is in trust for the benefit of the
          Owner.

        

        
          	 	
                  Section
                    2.06 Quality
                    Control Procedures.

                

        

        

        The
          Servicer must have an internal quality control program that verifies, on
          a
          regular basis, the existence and accuracy of the legal documents, credit
          documents, property appraisals, and underwriting decisions. The program
          must be
          capable of evaluating and monitoring the overall quality of its servicing
          activities. The purpose of the program is to ensure that the Mortgage Loans
          are
          serviced in accordance with prudent mortgage banking practices and accounting
          principles; guard against dishonest, fraudulent, or negligent acts; and
          guard
          against errors and omissions by officers, employees, or other authorized
          persons.

        

        ARTICLE
          III

        

        REPRESENTATIONS
          AND WARRANTIES

        OF
          THE
          SERVICER

        

        The
          Servicer represents, warrants and covenants to the Owner that as of the
          Effective Date or as of such date specifically provided herein:

        

        (a) The
          Servicer is a validly existing corporation in good standing under the laws
          of
          the State of its organization and is qualified to transact business in,
          is in
          good standing under the laws of, and possesses all licenses necessary for
          the
          conduct of its business in, each state in which any Mortgaged Property
          is
          located or is otherwise exempt or not required under applicable law to
          effect
          such qualification or license and no demand for such qualification or license
          has been made upon the Servicer by any such state, and in any event the
          Servicer
          is in compliance with the laws of each such State to the extent necessary
          to
          ensure the enforceability of each Mortgage Loan and the servicing of the
          Mortgage Loans in accordance with the terms of this Agreement;

        

        (b) The
          Servicer has full power and authority to execute, deliver and perform,
          and to
          enter into and consummate all transactions contemplated by this Agreement
          and to
          conduct its business as presently conducted, has duly authorized the execution,
          delivery and performance of this Agreement, has duly executed and delivered
          this
          Agreement, and this Agreement constitutes a legal, valid and binding obligation
          of the Servicer, enforceable against it in accordance with its terms subject
          to
          bankruptcy laws and other similar laws of general application affecting
          rights
          of creditors and subject to the application of the rules of equity, including
          those respecting the availability of specific performance;

        

        (c) None
          of
          the execution and delivery of this Agreement, the consummation of the
          transactions contemplated thereby and hereby, or the fulfillment of or
          compliance with the terms and conditions of this Agreement will conflict
          with
          any of the terms, conditions or provisions of the Servicer's articles of
          incorporation or by-laws or materially conflict with or result in a material
          breach of any of the terms, conditions or provisions of any legal restriction
          or
          any agreement or instrument to which the Servicer is now a party or by
          which it
          is bound, or constitute a default or result in an acceleration under any
          of the
          foregoing, or result in the material violation of any law, rule, regulation,
          order, judgment or decree to which the Servicer or its property is
          subject;

        

        (d) There
          is
          no litigation pending or, to the Seller’s knowledge, threatened with respect to
          the Servicer which is reasonably likely to have a material adverse effect
          on the
          execution, delivery or enforceability of this Agreement, or which is reasonably
          likely to have a material adverse effect on the financial condition of
          the
          Servicer;

        

        (e) No
          consent, approval, authorization or order of any court or governmental
          agency or
          body is required for the execution, delivery and performance by the Servicer
          of
          or compliance by the Servicer with this Agreement or the consummation of
          the
          transactions contemplated by this Agreement except for consents, approvals,
          authorizations and orders which have been obtained;

        

        (f) The
          collection and servicing practices used by the Servicer, with respect to
          each
          Mortgage Note and Mortgage have been in all material respects legal. With
          respect to escrow deposits and payments that the Servicer collects, all
          such
          payments are in the possession of, or under the control of, the Servicer,
          and
          there exist no deficiencies in connection therewith for which customary
          arrangements for repayment thereof have not been made. No escrow deposits
          or
          other charges or payments due under the Mortgage Note have been capitalized
          under any Mortgage or the related Mortgage Note;

        

        (g) The
          Servicer is in good standing to service mortgage loans for Fannie Mae and
          Freddie Mac and no event has occurred which would make the Servicer unable
          to
          comply with eligibility requirements or which would require notification
          to
          either Fannie Mae or Freddie Mac; 

        

        (h) No
          written statement, report or other document furnished or to be furnished
          pursuant to the Agreement contains or will contain any statement that is
          or will
          be inaccurate or misleading in any material respect or omits to state a
          material
          fact required to be stated therein or necessary to make the information
          and
          statements therein not misleading; 

        

        (i) No
          fraud
or
          misrepresentation of a material fact
          with
          respect to the servicing of a Mortgage Loan has taken place on the part
          of the
          Servicer;

        

        (j) At
          the
          time Servicer commenced servicing the Mortgage Loans, either (i) each
          Mortgagor
          was properly notified with respect to Servicer's servicing of the related
          Mortgage Loan in accordance with the Cranston Gonzalez National Affordable
          Housing Act of 1990, as the same may be amended from time to time, and
          the
          regulations provided
          in
          accordance with the Real Estate Settlement Procedures Act or (ii) such
          notification was not required; 

        

        (k) At
          the
time
          Servicer commenced servicing the Mortgage Loans, all
          applicable taxing authorities and insurance companies (including primary
          mortgage insurance policy insurers, if applicable) and/or agents were notified
          of the transfer of the servicing of the Mortgage Loans to Servicer, or
          its
          designee, and Servicer currently receives all related notices, tax bills
          and
          insurance statements. Additionally, any and all costs, fees and expenses
          associated with the Servicer’s commencement of the servicing of the Mortgage
          Loans, including the costs of any insurer notifications, the transfer or
          implementation of tax service contracts, flood certification contracts,
          and any
          and all other servicing transfer-related costs and expenses have been paid
          for
          by the Servicer and will, in no event, be the responsibility of the Owner;
          and

        

        (l) The
          collection
          and servicing practices with respect to each Mortgage Note and Mortgage
          have
          been in all material respects legal. With respect to escrow deposits and
          payments that the Servicer collects, all such payments are in the possession
          of,
          or under the control of, the Servicer, and there exist no deficiencies
          in
          connection therewith for which customary arrangements for repayment thereof
          have
          not been made. No escrow deposits or other charges or payments due under
          the
          Mortgage Note have been capitalized under any Mortgage or the related Mortgage
          Note.

         

        

        ARTICLE
          IV

        ADMINISTRATION
          AND SERVICING OF MORTGAGE LOANS

        
          	 	
                  Section
                    4.01 Servicer
                    to Act as Servicer.

                

        

         

        The
          Servicer, as independent contract servicer, shall service and administer
          the
          Mortgage Loans in accordance with this Agreement and with Accepted Servicing
          Practices (giving due consideration to the Owner's reliance on the Servicer),
          and shall have full power and authority, acting alone, to do or cause to
          be done
          any and all things in connection with such servicing and administration
          which
          the Servicer may deem necessary or desirable and consistent with the terms
          of
          this Agreement and with Accepted Servicing Practices and shall exercise
          the same
          care that it customarily employs for its own account. Except as set forth
          in
          this Agreement, the Servicer shall service the Mortgage Loans in accordance
          with
          Accepted Servicing Practices in compliance with the servicing provisions
          of the
          Fannie Mae Guide, which include, but are not limited to, provisions regarding
          the liquidation of Mortgage Loans, the collection of Mortgage Loan payments,
          the
          payment of taxes, insurance and other charges, the maintenance of hazard
          insurance with a Qualified Insurer, the maintenance of fidelity bond and
          errors
          and omissions insurance, inspections, the restoration of Mortgaged Property,
          the
          maintenance of Primary Mortgage Insurance Policies, insurance claims, and
          title
          insurance, management of REO Property, permitted withdrawals with respect
          to REO
          Property, liquidation reports, and reports of foreclosures and abandonments
          of
          Mortgaged Property, the transfer of Mortgaged Property, the release of
          Mortgage
          Loan Documents, annual statements, and examination of records and facilities.
          In
          the event of any conflict, inconsistency or discrepancy between any of
          the
          servicing provisions of this Agreement and any of the servicing provisions
          of
          the Fannie Mae Guide, the provisions of this Agreement shall control and
          be
          binding upon the Owner and the Servicer. The Owner shall, upon reasonable
          request, deliver powers-of-attorney to the Servicer sufficient to allow
          the
          Servicer as servicer to execute all documentation requiring execution on
          behalf
          of Owner with respect to the servicing of the Mortgage Loans, including
          satisfactions, partial releases, modifications and foreclosure documentation
          or,
          in the alternative, shall as promptly as reasonably possible, execute and
          return
          such documentation to the Servicer.

        

        Consistent
          with the terms of this Agreement, the Servicer may waive, modify or vary
          any
          term of any Mortgage Loan or consent to the postponement of any such term
          or in
          any manner grant indulgence to any Mortgagor if in the Servicer's reasonable
          and
          prudent determination such waiver, modification, postponement or indulgence
          is
          not materially adverse to the Owner, provided, however, that unless the
          Servicer
          has obtained the prior written consent of the Owner, the Servicer shall
          not
          permit any modification with respect to any Mortgage Loan that would change
          the
          Mortgage Interest Rate, forgive the payment of principal or interest, reduce
          or
          increase the outstanding principal balance (except for actual payments
          of
          principal) or change the final maturity date on such Mortgage Loan. In
          the event
          of any such modification which has been agreed to in writing by the Owner
          and
          which permits the deferral of interest or principal payments on any Mortgage
          Loan, the Servicer shall, on the Business Day immediately preceding the
          related
          Remittance Date in any month in which any such principal or interest payment
          has
          been deferred, deposit in the Custodial Account from its own funds, in
          accordance with Section 4.04 and Section 5.03, the difference between (a)
          such
          month's principal and one month's interest at the related Mortgage Loan
          Remittance Rate on the unpaid principal balance of such Mortgage Loan and
          (b)
          the amount paid by the Mortgagor. The Servicer shall be entitled to
          reimbursement for such advances to the same extent as for all other advances
          pursuant to Section 4.05. Without limiting the generality of the foregoing,
          the
          Servicer shall continue, and is hereby authorized and empowered, to prepare,
          execute and deliver, all instruments of satisfaction or cancellation, or
          of
          partial or full release, discharge and all other comparable instruments,
          with
          respect to the Mortgage Loans and with respect to the Mortgaged
          Properties.

        

        The
          Servicer shall perform all of its servicing responsibilities hereunder
          or may,
          with the Owner's prior written approval, cause a subservicer to perform
          any such
          servicing responsibilities on its behalf, but the use by the Servicer of
          a
          subservicer shall not release the Servicer from any of its obligations
          hereunder
          and the Servicer shall remain responsible hereunder for all acts and omissions
          of each subservicer as fully as if such acts and omissions were those of
          the
          Servicer. Any such subservicer that the Owner shall be requested to consent
          to
          must be a Fannie Mae approved seller/servicer or a Freddie Mac seller/servicer
          in good standing and no event shall have occurred, including but not limited
          to,
          a change in insurance coverage, which would make it unable to comply with
          the
          eligibility requirements for lenders imposed by Fannie Mae or for
          seller/servicers by Freddie Mac, or which would require notification to
          Fannie
          Mae or Freddie Mac. The Servicer shall pay all fees and expenses of each
          subservicer from its own funds, and a subservicer's fee shall not exceed
          the
          Servicing Fee.

        

        At
          the
          cost and expense of the Servicer, without any right of reimbursement from
          the
          Custodial Account, the Servicer shall be entitled to terminate the rights
          and
          responsibilities of a subservicer and arrange, with the Owner's prior written
          approval, for any servicing responsibilities to be performed by a successor
          subservicer meeting the requirements in the preceding paragraph, provided,
          however, that nothing contained herein shall be deemed to prevent or prohibit
          the Servicer, at the Servicer's option, from electing to service the related
          Mortgage Loans itself. In the event that the Servicer's responsibilities
          and
          duties under this Agreement are terminated pursuant to Section 8.04, 9.01
          or
          10.01, and if requested to do so by the Owner, the Servicer shall at its
          own
          cost and expense terminate the rights and responsibilities of each subservicer
          effective as of the date of termination of the Servicer. The Servicer shall
          pay
          all fees, expenses or penalties necessary in order to terminate the rights
          and
          responsibilities of each subservicer from the Servicer's own funds without
          reimbursement from the Owner.

        

        Notwithstanding
          any of the provisions of this Agreement relating to agreements or arrangements
          between the Servicer and a subservicer or any reference herein to actions
          taken
          through a subservicer or otherwise, the Servicer shall not be relieved
          of its
          obligations to the Owner and shall be obligated to the same extent and
          under the
          same terms and conditions as if it alone were servicing and administering
          the
          Mortgage Loans. The Servicer shall be entitled to enter into an agreement
          with a
          subservicer for indemnification of the Servicer by the subservicer and
          nothing
          contained in this Agreement shall be deemed to limit or modify such
          indemnification.

        

        Any
          subservicing agreement and any other transactions or services relating
          to the
          Mortgage Loans involving a subservicer shall be deemed to be between such
          subservicer and Servicer alone, and the Owner shall have no obligations,
          duties
          or liabilities with respect to such Subservicer including no obligation,
          duty or
          liability of Owner to pay such subservicer's fees and expenses. For purposes
          of
          distributions and advances by the Servicer pursuant to this Agreement,
          the
          Servicer shall be deemed to have received a payment on a Mortgage Loan
          when a
          subservicer has received such payment.

        

        Section
          4.02 Collection
          of Mortgage Loan Payments.

        

        Continuously
          from the Effective Date until the date each Mortgage Loan ceases to be
          subject
          to this Agreement, the Servicer will proceed with reasonable diligence
          to
          collect all payments due under each Mortgage Loan when the same shall become
          due
          and payable and shall, to the extent such procedures shall be consistent
          with
          this Agreement and the terms and provisions of related Primary Mortgage
          Insurance Policy, follow such collection procedures as it follows with
          respect
          to mortgage loans comparable to the Mortgage Loans and held for its own
          account.
          Further, the Servicer will take reasonable care in ascertaining and estimating
          annual ground rents, taxes, assessments, water rates, fire and hazard insurance
          premiums, mortgage insurance premiums, and all other charges that, as provided
          in the Mortgage, will become due and payable to the end that the installments
          payable by the Mortgagors will be sufficient to pay such charges as and
          when
          they become due and payable.

         

        Section
          4.03 Realization
          Upon Defaulted Mortgage Loans.

        

        The
          Servicer shall use its reasonable efforts, consistent with the procedures
          that
          the Servicer would use in servicing loans for its own account and the
          requirements of the Fannie Mae Guide, to foreclose upon or otherwise comparably
          convert the ownership of properties securing such of the Mortgage Loans
          as come
          into and continue in default and as to which no satisfactory arrangements
          can be
          made for collection of delinquent payments pursuant to Section 4.01. The
          Servicer shall use its reasonable efforts to realize upon defaulted Mortgage
          Loans in such manner as will maximize the receipt of principal and interest
          by
          the Owner, taking into account, among other things, the timing of foreclosure
          proceedings. The foregoing is subject to the provisions that, in any case
          in
          which Mortgaged Property shall have suffered damage, the Servicer shall
          not be
          required to expend its own funds toward the restoration of such property
          unless
          it shall determine in its discretion (i) that such restoration will increase
          the
          proceeds of liquidation of the related Mortgage Loan to the Owner after
          reimbursement to itself for such expenses, and (ii) that such expenses
          will be
          recoverable by the Servicer through Insurance Proceeds or Liquidation Proceeds
          from the related Mortgaged Property, as contemplated in Section 4.05. The
          Servicer shall notify the Owner in writing of the commencement of foreclosure
          proceedings. The Servicer shall be responsible for all costs and expenses
          incurred by it in any such proceedings or functions as Servicing Advances;
          provided, however, that it shall be entitled to reimbursement therefor
          from the
          related Mortgaged Property, as contemplated in Section 4.05. Notwithstanding
          anything to the contrary contained herein, in connection with a foreclosure
          or
          acceptance of a deed in lieu of foreclosure, in the event the Servicer
          has
          reasonable cause to believe that a Mortgaged Property is contaminated by
          hazardous or toxic substances or wastes, or if the Owner otherwise requests
          an
          environmental inspection or review of such Mortgaged Property, such an
          inspection or review is to be conducted by a qualified inspector. Upon
          completion of the inspection, the Servicer shall promptly provide the Owner
          with
          a written report of the environmental inspection. After reviewing the
          environmental inspection report, the Owner shall determine how the Servicer
          shall proceed with respect to the Mortgaged Property.

        

        Section
          4.04 Establishment
          of Custodial Accounts; Deposits in Custodial Accounts.

        

        The
          Servicer shall segregate and hold all funds collected and received pursuant
          to
          each Mortgage Loan separate and apart from any of its own funds and general
          assets and shall establish and maintain one or more Custodial Accounts.
          Each
          Custodial Account shall be established with a Qualified Depository. To
          the
          extent such funds are not deposited in a Custodial Account, such funds
          may be
          invested in Permitted Investments for the benefit of the Owner (with any
          income
          earned thereon for the benefit of the Servicer). Funds deposited in the
          Custodial Account may be drawn on by the Servicer in accordance with Section
          4.05. The creation of any Custodial Account shall be evidenced by a letter
          agreement in the form shown in Exhibit
          B
          hereto.
          The original of such letter agreement shall be furnished to the Owner upon
          request. The Servicer acknowledges and agrees that the Servicer shall bear
          any
          losses incurred with respect to Permitted Investments. The amount of any
          such
          losses shall be immediately deposited by the Servicer in the Custodial
          Account,
          as appropriate, out of the Servicer's own funds, with no right to reimbursement
          therefor.

        

        The
          Servicer shall deposit in a mortgage clearing account on a daily basis,
          and in
          the Custodial Account or Accounts no later than the second Business Day
          after
          receipt of funds and retain therein the following payments and
          collections:

        

        (i) all
          payments on account of principal, including Principal Prepayments, on the
          Mortgage Loans received after the Cut-off Date;

        

        (ii) all
          payments on account of interest on the Mortgage Loans adjusted to the related
          Mortgage Loan Remittance Rate received after the Cut-off Date;

        

        (iii) all
          Liquidation Proceeds and REO Disposition Proceeds received after the Cut-off
          Date;

        

        (iv) any
          net
          amounts received by the Servicer after the Cut-off Date in connection with
          any
          REO Property pursuant to Section 4.13;

        

        (v) all
          Insurance Proceeds received after the Cut-off Date including amounts required
          to
          be deposited pursuant to Sections 4.08 and 4.10, other than proceeds to
          be held
          in the Escrow Account and applied to the restoration or repair of the Mortgaged
          Property or released to the Mortgagor in accordance with the Servicer's
          normal
          servicing procedures, the loan documents or applicable law;

        

        (vi) all
          Condemnation Proceeds affecting any Mortgaged Property received after the
          Cut-off Date other than proceeds to be held in the Escrow Account and applied
          to
          the restoration or repair of the Mortgaged Property or released to the
          Mortgagor
          in accordance with the Servicer's normal servicing procedures, the loan
          documents or applicable law;

        

        (vii) any
          Monthly Advances as provided in Section 5.03;

        

        (viii) any
          amounts received after the Cut-off Date and required to be deposited in
          the
          Custodial Account pursuant to 6.02; and

        

        (ix) with
          respect to each full or partial Principal Prepayment received after the
          Cut-off
          date, any Prepayment Interest Shortfalls, to the extent of the Servicer’s
          aggregate Servicing Fee received with respect to the related Due
          Period.

        

        The
          foregoing requirements for deposit in the Custodial Account shall be exclusive,
          it being understood and agreed that, without limiting the generality of
          the
          foregoing, payments in the nature of late payment charges and assumption
          fees,
          to the extent permitted by Section 6.01, need not be deposited by the Servicer
          in the Custodial Account. Any interest paid on funds deposited in the Custodial
          Account by the Qualified Depository shall accrue to the benefit of the
          Servicer
          and the Servicer shall be entitled to retain and withdraw such interest
          from the
          Custodial Account pursuant to Section 4.05(iv).

        

        Section
          4.05 Permitted
          Withdrawals From the Custodial Account.

        

        The
          Servicer may, from time to time, make withdrawals from the Custodial Account
          for
          the following purposes:

        

        (i)
          to
          make payments to the Owner in the amounts and in the manner provided for
          in
          Section 5.01;

        

        (ii)
          to
          reimburse itself for Monthly Advances, the Servicer's right to reimburse
          itself
          pursuant to this subclause (ii) being limited to amounts received on the
          related
          Mortgage Loan which represent late collections (net of the related Servicing
          Fees) of principal and/or interest respecting which any such advance was
          made;

        

        (iii)
          to
          reimburse itself for unreimbursed Servicing Advances and unreimbursed Monthly
          Advances, the Servicer's right to reimburse itself pursuant to this subclause
          (iii) with respect to any Mortgage Loan being limited to Liquidation Proceeds,
          Condemnation Proceeds and Insurance Proceeds received after the Cut-off
          Date
          related to such Mortgage Loan;

        

        (iv)
          to
          pay to itself as servicing compensation (a) any interest earned on funds
          in the
          Custodial Account (all such interest to be withdrawn monthly not later
          than each
          Remittance Date) and (b) any payable Servicing Fee;

        

        (v)
          to
          reimburse itself for any Nonrecoverable Advances:

        

        (vi)
          to
          transfer funds to another Qualified Depository in accordance with Section
          4.09
          hereof;

        

        (vii)
          to
          remove funds inadvertently placed in the Custodial Account in error by
          the
          Servicer; and

        

        (viii)
          to
          clear and terminate the Custodial Account upon the termination of this
          Agreement.

        

        Section
          4.06 Establishment
          of Escrow Accounts; Deposits in Escrow Accounts.

        

        The
          Servicer shall segregate and hold all funds collected and received pursuant
          to
          each Mortgage Loan which constitute Escrow Payments separate and apart
          from any
          of its own funds and general assets and shall establish and maintain one
          or more
          Escrow Accounts. Each Escrow Account shall be established with a Qualified
          Depository. To the extent such funds are not deposited in an Escrow Account,
          such funds may be invested in Permitted Investments. Funds deposited in
          an
          Escrow Account may be drawn on by the Servicer in accordance with Section
          4.07.
          The creation of any Escrow Account shall be evidenced by a letter agreement
          in
          the form shown in Exhibit
          C.
          The
          original of such letter agreement shall be furnished to the Owner upon
          request.
          The Servicer acknowledges and agrees that the Servicer shall bear any losses
          incurred with respect to Permitted Investments. The amount of any such
          losses
          shall be immediately deposited by the Servicer in the Escrow Account, as
          appropriate, out of the Servicer's own funds, with no right to reimbursement
          therefor.

        

        The
          Servicer shall deposit in a mortgage clearing account on a daily basis,
          and in
          the Escrow Account or Accounts no later than the second Business Day after
          receipt of funds and retain therein:

        

        (i)
          all
          Escrow Payments collected on account of the Mortgage Loans, for the purpose
          of
          effecting timely payment of any items as are required under the terms of
          this
          Agreement;

        

        (ii)
          all
          Insurance Proceeds which are to be applied to the restoration or repair
          of any
          Mortgaged Property; and

        

        (iii)
          all
          Servicing Advances for Mortgagors whose Escrow Payments are insufficient
          to
          cover escrow disbursements.

        

        The
          Servicer shall make withdrawals from an Escrow Account only to effect such
          payments as are required under this Agreement, and for such other purposes
          as
          shall be as set forth in and in accordance with Section 4.07. The Servicer
          shall
          be entitled to retain any interest paid on funds deposited in an Escrow
          Account
          by the Qualified Depository other than interest on escrowed funds required
          by
          law to be paid to the Mortgagor and, to the extent required by law, the
          Servicer
          shall pay interest on escrowed funds to the Mortgagor notwithstanding that
          the
          Escrow Account is non-interest bearing or that interest paid thereon is
          insufficient for such purposes.

        

        Section
          4.07 Permitted
          Withdrawals From Escrow Account.

        

        Withdrawals
          from the Escrow Account may be made by the Servicer only:

        

        (i) to
          effect
          timely payments of ground rents, taxes, assessments, water rates, fire
          and
          hazard insurance premiums, Primary Mortgage Insurance Policy premiums,
          if
          applicable, and comparable items;

        

        (ii) to
          reimburse Servicer for any Servicing Advance made by Servicer with respect
          to a
          related Mortgage Loan but only from amounts received on the related Mortgage
          Loan which represent late payments or collections of Escrow Payments
          thereunder;

        

        (iii) to
          refund
          to the Mortgagor any funds as may be determined to be overages;

        

        (iv) for
          transfer to the Custodial Account in connection with an acquisition of
          REO
          Property;

        

        (v) for
          application to restoration or repair of the Mortgaged Property;

        

        (vi) to
          pay to
          the Servicer, or to the Mortgagor to the extent required by law, any interest
          paid on the funds deposited in the Escrow Account;

        

        (vii) to
          pay to
          the Mortgagors or other parties Insurance Proceeds deposited in accordance
          with
          Section 4.06; 

        

        (viii) to
          remove
          funds inadvertently placed in an Escrow Account in error by the Servicer;
          and

        

        (ix) to
          clear
          and terminate the Escrow Account on the termination of this Agreement.
          

        

        As
          part
          of its servicing duties, the Servicer shall pay to the Mortgagors interest
          on
          funds in an Escrow Account, to the extent required by law, and to the extent
          that interest earned on funds in the Escrow Account is insufficient, shall
          pay
          such interest from its own funds, without any reimbursement
          therefor.

        

        Section
          4.08 Payment
          of Taxes, Insurance and Other Charges; Maintenance of Primary Mortgage
          Insurance
          Policies; Collections Thereunder.

        

        With
          respect to each Mortgage Loan, the Servicer shall maintain accurate records
          reflecting the status of ground rents, taxes, assessments, water rates
          and other
          charges which are or may become a lien upon the Mortgaged Property and
          the
          status of Primary Mortgage Insurance Policy premiums and fire and hazard
          insurance coverage and shall obtain, from time to time, all bills for the
          payment of such charges, including renewal premiums and shall effect payment
          thereof prior to the applicable penalty or termination date and at a time
          appropriate for securing maximum discounts allowable, employing for such
          purpose
          deposits of the Mortgagor in the Escrow Account which shall have been estimated
          and accumulated by the Servicer in amounts sufficient for such purposes,
          as
          allowed under the terms of the Mortgage or applicable law. To the extent
          that
          the Mortgage does not provide for Escrow Payments, the Servicer shall determine
          that any such payments are made by the Mortgagor at the time they first
          become
          due. The Servicer assumes full responsibility for the timely payment of
          all such
          bills and shall effect timely payments of all such bills irrespective of
          the
          Mortgagor's faithful performance in the payment of same or the making of
          the
          Escrow Payments and shall make advances from its own funds to effect such
          payments.

        

        The
          Servicer will maintain in full force and effect Primary Mortgage Insurance
          Policies issued by a Qualified Insurer with respect to each Mortgage Loan
          for
          which such coverage is herein required. Such coverage will be maintained
          until
          the ratio of the current outstanding principal balance of the related Mortgage
          Loan to the appraised value of the related Mortgaged Property, based on
          the most
          recent appraisal of the Mortgaged Property performed by a Qualified Appraiser,
          such appraisal to be included in the Servicing File, is reduced to 80.00%
          or
          less. The Servicer will not cancel or refuse to renew any Primary Mortgage
          Insurance Policy that is required to be kept in force under this Agreement
          unless a replacement Primary Mortgage Insurance Policy for such canceled
          or
          nonrenewed policy is obtained from and maintained with a Qualified Insurer.
          The
          Servicer shall not take any action which would result in non-coverage under
          any
          applicable Primary Mortgage Insurance Policy of any loss which, but for
          the
          actions of the Servicer would have been covered thereunder. In connection
          with
          any assumption or substitution agreement entered into or to be entered
          into
          pursuant to Section 6.01, the Servicer shall promptly notify the insurer
          under
          the related Primary Mortgage Insurance Policy, if any, of such assumption
          or
          substitution of liability in accordance with the terms of such policy and
          shall
          take all actions which may be required by such insurer as a condition to
          the
          continuation of coverage under the Primary Mortgage Insurance Policy. If
          such
          Primary Mortgage Insurance Policy is terminated as a result of such assumption
          or substitution of liability, the Servicer shall obtain a replacement Primary
          Mortgage Insurance Policy as provided above.

        

        In
          connection with its activities as servicer, the Servicer agrees to prepare
          and
          present, on behalf of itself and the Owner, claims to the insurer under
          any
          Private Mortgage Insurance Policy in a timely fashion in accordance with
          the
          terms of such Primary Mortgage Insurance Policy and, in this regard, to
          take
          such action as shall be necessary to permit recovery under any Primary
          Mortgage
          Insurance Policy respecting a defaulted Mortgage Loan. Pursuant to Section
          4.04,
          any amounts collected by the Servicer under any Primary Mortgage Insurance
          Policy shall be deposited in the Custodial Account, subject to withdrawal
          pursuant to Section 4.05.

        

        Section
          4.09 Transfer
          of Accounts.

         

        The
          Servicer may transfer the Custodial Account or the Escrow Account to a
          different
          Qualified Depository from time to time. The Servicer shall notify the Owner
          of
          any such transfer within 15 Business Days of transfer.

        

        Section
          4.10 Maintenance
          of Hazard Insurance.

        

        The
          Servicer shall cause to be maintained for each Mortgage Loan fire and hazard
          insurance with extended coverage as is customary in the area where the
          Mortgaged
          Property is located in an amount which is equal to the lesser of (i) the
          maximum
          insurable value of the improvements securing such Mortgage Loan or (ii)
          the
          greater of (a) the outstanding principal balance of the Mortgage Loan,
          and (b)
          the percentage such that the proceeds thereof shall be sufficient to prevent
          the
          Mortgagor and/or the Mortgagee from becoming a co-insurer. If the Mortgaged
          Property is in an area identified in the Federal Register by the Federal
          Emergency Management Agency as being a special flood hazard area that has
          federally-mandated flood insurance requirements, the Servicer will cause
          to be
          maintained a flood insurance policy meeting the requirements of the current
          guidelines of the Federal Insurance Administration with a generally acceptable
          insurance carrier, in an amount representing coverage not less than the
          least of
          (i) the outstanding principal balance of the Mortgage Loan, (ii) the maximum
          insurable value of the improvements securing such Mortgage Loan or (iii)
          the
          maximum amount of insurance which is available under the Flood Disaster
          Protection Act of 1973, as amended. The Servicer shall also maintain on
          the REO
          Property, fire and hazard insurance with extended coverage in an amount
          which is
          at least equal to the maximum insurable value of the improvements which
          are a
          part of such property, liability insurance and, to the extent required
          and
          available under the Flood Disaster Protection Act of 1973, as amended,
          flood
          insurance in an amount as provided above. Any amounts collected by the
          Servicer
          under any such policies other than amounts to be deposited in the Escrow
          Account
          and applied to the restoration or repair of the Mortgaged Property or REO
          Property, or released to the Mortgagor in accordance with the Servicer's
          normal
          servicing procedures, shall be deposited in the Custodial Account, subject
          to
          withdrawal pursuant to Section 4.05. It is understood and agreed that no
          other
          additional insurance need be required by the Servicer or the Mortgagor
          or
          maintained on property acquired in respect of the Mortgage Loans, other
          than
          pursuant to the Fannie Mae Guide or such applicable state or federal laws
          and
          regulations as shall at any time be in force and as shall require such
          additional insurance. All such policies shall be endorsed with standard
          mortgagee clauses with loss payable to the Servicer and its successors
          and/or
          assigns and shall provide for at least thirty days prior written notice
          of any
          cancellation, reduction in the amount or material change in coverage to
          the
          Servicer. The Servicer shall not interfere with the Mortgagor's freedom
          of
          choice in selecting either his insurance carrier or agent, provided, however,
          that the Servicer shall not accept any such insurance policies from insurance
          companies unless such companies currently reflect a General Policy Rating
          in
          Best's Key Rating Guide currently acceptable to Fannie Mae and are licensed
          to
          do business in the state wherein the property subject to the policy is
          located.

        

        Section
          4.11 Adjustments
          to Mortgage Interest Rate and Monthly Payment.

        

        On
          each
          applicable Adjustment Date, the Mortgage Interest Rate shall be adjusted,
          in
          compliance with the requirements of the related Mortgage and Mortgage Note,
          to
          equal the sum of the Index plus the Margin (rounded in accordance with
          the
          related Mortgage Note) subject to the applicable Periodic Rate Cap and
          Lifetime
          Rate Cap, as set forth in the Mortgage Note. The Servicer shall execute
          and
          deliver the notices required by each Mortgage and Mortgage Note and applicable
          laws and regulations regarding interest rate adjustments.

        

        Section
          4.12 Fidelity
          Bond, Errors and Omissions Insurance.

        

        The
          Servicer shall maintain, at its own expense, a blanket fidelity bond and
          an
          errors and omissions insurance policy, with broad coverage with responsible
          companies on all officers, employees or other persons acting in any capacity
          with regard to the Mortgage Loans and who handle funds, money, documents
          and
          papers relating to the Mortgage Loans. The Fidelity Bond and errors and
          omissions insurance shall be in the form of the Mortgage Banker's Blanket
          Bond
          and shall protect and insure the Servicer against losses, including forgery,
          theft, embezzlement, fraud, errors and omissions and negligent acts of
          such
          persons. Such Fidelity Bond and errors and omissions insurance shall also
          protect and insure the Servicer against losses in connection with the failure
          to
          maintain any insurance policies required pursuant to this Agreement and
          the
          release or satisfaction of a Mortgage Loan without having obtained payment
          in
          full of the indebtedness secured thereby. No provision of this Section
          4.12
          requiring the Fidelity Bond and errors and omissions insurance shall diminish
          or
          relieve the Servicer from its duties and obligations as set forth in this
          Agreement. The minimum coverage under any such Fidelity Bond and insurance
          policy shall be at least equal to the corresponding amounts required by
          Fannie
          Mae in the Fannie Mae Guide or by Freddie Mac in the Freddie Mac Guide.
          The
          Servicer shall, upon request of Owner, deliver to the Owner a certificate
          from
          the surety and the insurer as to the existence of the Fidelity Bond and
          errors
          and omissions insurance policy and shall obtain a statement from the surety
          and
          the insurer that such Fidelity Bond or insurance policy shall in no event
          be
          terminated or materially modified without thirty days prior written notice
          to
          the Owner. The Servicer shall notify the Owner within five Business Days
          of
          receipt of notice that such Fidelity Bond or insurance policy will be,
          or has
          been, materially modified or terminated. The Owner and its successors or
          assigns
          as their interests may appear must be named as loss payees on the Fidelity
          Bond
          and as additional insured on the errors and omissions policy.

         

        Section
          4.13 Title,
          Management and Disposition of REO Property.

        

        In
          the
          event that title to any Mortgaged Property is acquired in foreclosure or
          by deed
          in lieu of foreclosure, the deed or certificate of sale shall be taken
          in the
          name of the Owner or its designee. Any such Person or Persons holding such
          title
          other than the Owner shall acknowledge in writing that such title is being
          held
          as nominee for the benefit of the Owner.

        

        The
          Servicer shall notify the Owner in accordance with prudent servicing practices
          of each acquisition of REO Property upon such acquisition, and thereafter
          assume
          the responsibility for marketing such REO Property in accordance with Accepted
          Servicing Practices. Thereafter, the Servicer shall continue to provide
          certain
          administrative services to the Owner relating to such REO Property as set
          forth
          in this Section 4.13. The REO Property must be sold within three years
          following
          the end of the calendar year of the date of acquisition, unless a REMIC
          election
          has been made with respect to the arrangement under which the Mortgage
          Loans and
          REO Property are held and (i) the Owner shall have been supplied with an
          Opinion
          of Counsel to the effect that the holding by the related trust of such
          Mortgaged
          Property subsequent to such three-year period (and specifying the period
          beyond
          such three-year period for which the Mortgaged Property may be held) will
          not
          result in the imposition of taxes on “prohibited transactions” of the related
          trust as defined in Section 860F of the Code, or cause the related REMIC
          to fail
          to qualify as a REMIC, in which case the related trust may continue to
          hold such
          Mortgaged Property (subject to any conditions contained in such Opinion
          of
          Counsel), or (ii) the Owner (at the Servicer’s expense) or the Servicer shall
          have applied for, prior to the expiration of such three-year period, an
          extension of such three-year period in the manner contemplated by Section
          856(e)(3) of the Code, in which case the three-year period shall be extended
          by
          the applicable period. If a period longer than three years is permitted
          under
          the foregoing sentence and is necessary to sell any REO Property, (i) the
          Servicer shall report monthly to the Owner as to progress being made in
          selling
          such REO Property and (ii) if, with the written consent of the Owner, a
          purchase
          money mortgage is taken in connection with such sale, such purchase money
          mortgage shall name the Servicer as mortgagee, and such purchase money
          mortgage
          shall not be held pursuant to this Agreement, but instead a separate
          participation agreement between the Servicer and Owner shall be entered
          into
          with respect to such purchase money mortgage.

        

        The
          Servicer shall not permit the creation of any “interests” (within the meaning of
          Section 860G of the Code) in any REMIC. The Servicer shall not enter into
          any
          arrangement by which a REMIC will receive a fee or other compensation for
          services nor permit a REMIC to receive any income from assets other than
          “qualified mortgages” as defined in Section 860G(a)(3) of the Code or “permitted
          investments” as defined in Section 860G(a)(5) of the Code.

         

        Notwithstanding
          any other provision of this Agreement, if a REMIC election has been made,
          no
          Mortgaged Property held by a REMIC shall be rented (or allowed to continue
          to be
          rented) or otherwise used for the production of income by or on behalf
          of the
          related trust or sold in such a manner or pursuant to any terms that would
          (i)
          cause such Mortgaged Property to fail to qualify at any time as “foreclosure
          property” within a meaning of Section 860G(a)(8) of the Code, (ii) subject the
          related trust to the imposition of any federal or state income taxes on
“net
          income from foreclosure property” with respect to such Mortgaged Property within
          the meaning of Section 860G(c) of the Code, or (iii) cause the sale of
          such
          Mortgaged Property to result in the receipt by the related trust or any
          income
          from non-permitted assets as described in Section 860F(a) (2)(B) of the
          Code,
          unless the Servicer has agreed to indemnify and hold harmless the related
          trust
          with respect to the imposition of any such taxes.

        

        The
          Servicer shall, either itself or through an agent selected by the Servicer,
          and
          in accordance with the Fannie Mae Guide, manage, conserve, protect and
          operate
          each REO Property in the same manner that it manages, conserves, protects
          and
          operates other foreclosed property for its own account, and in the same
          manner
          that similar property in the same locality as the REO Property is managed.
          Each
          REO Disposition shall be carried out by the Servicer at such price and
          upon such
          terms and conditions as the Servicer deems to be in the best interest of
          the
          Owner. The REO Disposition Proceeds from the sale of the REO Property shall
          be
          promptly deposited in the Custodial Account. As soon as practical thereafter,
          the expenses of such sale shall be paid and the Servicer shall reimburse
          itself
          for any related Servicing Advances, or Monthly Advances made pursuant to
          Section
          5.03.

        

        The
          Servicer shall cause each REO Property to be inspected promptly upon the
          acquisition of title thereto and shall cause each REO Property to be inspected
          at least monthly thereafter or more frequently as may be required by the
          circumstances. The Servicer shall make or cause the inspector to make a
          written
          report of each such inspection. Such reports shall be retained in the Servicing
          File and copies thereof shall be forwarded by the Servicer to the
          Owner.

        

        Notwithstanding
          anything to the contrary set forth in this Section 4.13, the parties hereto
          hereby agree that the Owner, at its option, shall be entitled to manage,
          conserve, protect and operate each REO Property for its own benefit (such
          option, an "REO Option"). In connection with the exercise of an REO Option,
          the
          prior two paragraphs and the related provisions of Section 4.03 and Section
          4.04(iii) (such provisions, the “REO Marketing Provisions”) shall be revised as
          follows. Following the acquisition of any Mortgaged Property, the Servicer
          shall
          submit a detailed invoice to the Owner for all related Servicing Advances
          and,
          upon exercising the REO Option, the Owner shall promptly reimburse the
          Servicer
          for such amounts. In the event the REO Option is exercised with respect
          to an
          REO Property, Section 4.04 (iii) shall not be applicable thereto. References
          made in Section 4.03 with respect to the reimbursement of Servicing Advances
          shall, for purposes of such REO Property, be deemed to be covered by this
          paragraph. The Owner acknowledges that, in the event it exercises an REO
          Option,
          with respect to the related REO Property, there shall be no breach by the
          Servicer based upon or arising out of the Servicer's failure to comply
          with the
          REO Marketing Provisions.

        

        ARTICLE
          V

        

        PAYMENTS
          TO THE OWNER

        

        Section
          5.01 Remittances.

        

        On
          each
          Remittance Date, the Servicer shall remit to the Owner (i) all amounts
          credited
          to the Custodial Account as of the close of business on the related preceding
          Determination Date, except (a) Partial Principal Prepayments received on
          or
          after the first day of the month in which the Remittance Date occurs shall
          be
          remitted to the Owner on the next following Remittance Date, (b) Full Principal
          Prepayments received on or before the 15th
          day of
          the month in which a Remittance Date occurs shall be remitted to the Owner
          on
          the Remittance Date of such month, and (c) Full Principal Prepayments received
          after the 15th
          day of
          the month shall be remitted to the Owner on the next following Remittance
          Date,
          each net of charges against or withdrawals from the Custodial Account pursuant
          to Section 4.05, plus, to the extent not already deposited in the Custodial
          Account, the sum of (ii) all Monthly Advances, if any, which the Servicer
          is
          obligated to distribute pursuant to Section 5.03 and (iii) all Prepayment
          Interest Shortfalls the Servicer is required to make up pursuant to Section
          4.04, minus (iv) any amounts attributable to Monthly Payments collected
          after
          the Cut-off Date but due on a Due Date or Dates subsequent to the last
          day of
          the related Due Period, which amounts shall be remitted on the related
          Remittance Date next succeeding the Due Period for such amounts.

        

        With
          respect to any remittance received by the Owner after the Business Day
          on which
          such payment was due, the Servicer shall pay to the Owner interest on any
          such
          late payment at an annual rate equal to the Prime Rate, adjusted as of
          the date
          of each change, plus two percentage points, but in no event greater than
          the
          maximum amount permitted by applicable law. Such interest shall be deposited
          in
          the Custodial Account by the Servicer on the date such late payment is
          made and
          shall cover the period commencing with the day following such Business
          Day and
          ending with the Business Day on which such payment is made, both inclusive.
          Such
          interest shall be remitted along with the distribution payable on the next
          succeeding related Remittance Date. The payment by the Servicer of any
          such
          interest shall not be deemed an extension of time for payment or a waiver
          of any
          Event of Default by the Servicer.

        

        Section
          5.02 Statements
          to the Owner.

        

        The
          Servicer shall furnish to the Owner an individual Mortgage Loan accounting
          report (a “Report”), as of the last Business Day of each month, in the
          Servicer's assigned loan number order to document Mortgage Loan payment
          activity
          on an individual Mortgage Loan basis. With respect to each month, such
          Report
          shall be received by the Owner (i) no later than the fifth Business Day
          of the
          following month of the related Remittance Date on a disk or tape or other
          computer-readable format, in such format as may be mutually agreed upon
          by both
          the Owner and the Servicer, and (ii) no later than the tenth Business Day
          of the
          following month of the related Remittance Date in hard copy, which Report
          shall
          contain the following:

        

        
          	(i)  	
                  with
                    respect to each Monthly Payment, the amount of such remittance
                    allocable
                    to interest

                

        

        

        
          	(ii)  	
                  the
                    amount of servicing compensation received by the Servicer during
                    the prior
                    distribution period;

                

        

        

        
          	(iii)  	
                  the
                    aggregate Stated Principal Balance of the Mortgage Loans;
                    

                

        

        

        
          	(iv)  	
                  the
                    number and aggregate outstanding principal balances of Mortgage
                    Loans (a)
                    delinquent (1) 30 to 59 days, (2) 60 to 89 days, (3) 90 days
                    or more; (b)
                    as to which foreclosure has commenced; and (c) as to which REO
                    Property
                    has been acquired; and

                

        

        

        
          	(v)  	
                  such
                    other reports as may reasonably be required by the
                    Owner.

                

        

         

        The
          Servicer shall also provide a trial balance, sorted in the Owner's assigned
          loan
          number order, and such other loan level scheduled-scheduled remittance
          information as described on Exhibit
          E,
          in
          electronic tape form, with each such Report.

        

        The
          Servicer shall prepare and file any and all information statements or other
          filings required to be delivered to any governmental taxing authority or
          to
          Owner pursuant to any applicable law with respect to the Mortgage Loans
          and the
          transactions contemplated hereby. In addition, the Servicer shall provide
          the
          Owner with such information concerning the Mortgage Loans as is necessary
          for
          the Owner to prepare its federal income tax return as the Owner may reasonably
          request from time to time.

        

        In
          addition, not more than 60 days after the end of each calendar year, the
          Servicer shall furnish to each Person who was an Owner at any time during
          such
          calendar year an annual statement in accordance with the requirements of
          applicable federal income tax law as to the aggregate of remittances of
          principal and interest for the applicable portion of such year.

        

        Section
          5.03 Monthly
          Advances by the Servicer.

        

        Not
          later
          than the close of business on the Business Day preceding each Remittance
          Date,
          the Servicer shall deposit in the Custodial Account an amount equal to
          all
          payments not previously advanced by the Servicer, whether or not deferred
          pursuant to Section 4.01, of Monthly Payments, adjusted to the related
          Mortgage
          Loan Remittance Rate, which are delinquent at the close of business on
          the
          related Determination Date; provided, however, that the amount of any such
          deposit may be reduced by (i) the Amount Held for Future Distribution (as
          defined below) then on deposit in the Custodial Account, plus (ii) with
          respect
          to the initial Remittance Date, the Non-held Early Pay Amount (as defined
          below). Any portion of the Amount Held for Future Distribution used to
          pay
          Monthly Advances shall be replaced by the Servicer by deposit into the
          Custodial
          Account on any future Remittance Date to the extent that the funds that
          are
          available in the Custodial Account for remittance to the Owner on such
          Remittance Date are less than the amount of payments required to be made
          to the
          Owner on such Remittance Date. 

        

        The
          “Amount Held for Future Distribution” as to any Remittance Date shall be the
          total of the amounts held in the Custodial Account at the close of business
          on
          the preceding Determination Date which were received after the Cut-off
          Date on
          account of (i) Liquidation Proceeds, Insurance Proceeds, and Partial Principal
          Prepayments received or made in the month of such Remittance Date, (ii)
          Full
          Principal Payments received after the 15th
          day of
          the month in the month of such Remittance Date, and (iii) payments which
          represent early receipt of scheduled payments of principal and interest
          due on a
          date or dates subsequent to the related Due Date. The "Non-held Early Pay
          Amount" shall be the total of the amounts on account of payments which
          represent
          early receipt of scheduled payments of principal and interest received
          on or
          prior to the Cut-off Date.

        

        The
          Servicer's obligation to make such Monthly Advances as to any Mortgage
          Loan will
          continue through the final disposition or liquidation of the Mortgaged
          Property,
          unless the Servicer deems such advance to be nonrecoverable from Liquidation
          Proceeds, REO Disposition Proceeds or Insurance Proceeds with respect to
          the
          applicable Mortgage Loan. In such latter event, the Servicer shall deliver
          to
          the Owner an Officer's Certificate of the Servicer to the effect that an
          officer
          of the Servicer has reviewed the related Servicing File and has obtained
          a
          recent appraisal and has made the reasonable determination that any additional
          advances are nonrecoverable from Liquidation or Insurance Proceeds with
          respect
          to the applicable Mortgage Loan.

        

        Section
          5.04 Liquidation
          Reports.

        

        Upon
          the
          foreclosure sale of any Mortgaged Property or the acquisition thereof by
          the
          Owner pursuant to a deed-in--lieu of foreclosure, the Servicer shall submit
          to
          the Owner a liquidation report with respect to such Mortgaged Property
          in such
          form as the Servicer and the Owner shall agree. The Servicer shall also
          provide
          reports on the status of REO Property containing such information as Owner
          may
          reasonably require.

        

        ARTICLE
          VI

        

        GENERAL
          SERVICING PROCEDURES

        

        Section
          6.01 Assumption
          Agreements.

        

        The
          Servicer will, to the extent it has knowledge of any conveyance or prospective
          conveyance by any Mortgagor of a Mortgaged Property (whether by absolute
          conveyance or by contract of, sale, and whether or not the Mortgagor remains
          or
          is to remain liable under the Mortgage Note and/or the Mortgage), exercise
          its
          rights to accelerate the maturity of such Mortgage Loan under any "due-on-sale"
          clause to the extent permitted by law; provided, however, that the Servicer
          shall not exercise any such rights if prohibited by law or the terms of
          the
          Mortgage Note from doing so or if the exercise of such rights would impair
          or
          threaten to impair any recovery under the related Primary Mortgage Insurance
          Policy, if any. If the Servicer reasonably believes it is unable under
          applicable law to enforce such "due-on-sale" clause, the Servicer, with
          the
          approval of the Owner (such approval not to be unreasonably withheld),
          will
          enter into an assumption agreement with the person to whom the Mortgaged
          Property has been conveyed or is proposed to be conveyed, pursuant to which
          such
          person becomes liable under the Mortgage Note and, to the extent permitted
          by
          applicable state law, the Mortgagor remains liable thereon. Where an assumption
          is allowed pursuant to this Section 6.01, the Servicer, with the prior
          consent
          of the primary mortgage insurer, if any, is authorized to enter into a
          substitution of liability agreement with the person to whom the Mortgaged
          Property has been conveyed or is proposed to be conveyed pursuant to which
          the
          original mortgagor is released from liability and such Person is substituted
          as
          mortgagor and becomes liable under the related Mortgage Note. Any such
          substitution of liability agreement shall be in lieu of an assumption
          agreement.

        

        In
          connection with any such assumption or substitution of liability, the Servicer
          shall follow the underwriting practices and procedures of the Fannie Mae
          Guide.
          With respect to an assumption or substitution of liability, the Mortgage
          Interest Rate borne by the related Mortgage Note and the amount of the
          Monthly
          Payment may not be changed. The Servicer shall notify the Owner that any
          such
          substitution of liability or assumption agreement has been completed by
          forwarding to the Owner the original of any such substitution of liability
          or
          assumption agreement, which document shall be added to the related Mortgage
          Loan
          Documents and shall, for all purposes, be considered a part of such related
          mortgage file to the same extent as all other documents and instruments
          constituting a part thereof. All fees collected by the Servicer for entering
          into an assumption or substitution of liability agreement shall belong
          to the
          Servicer.

        

        Notwithstanding
          the foregoing paragraphs of this section or any other provision of this
          Agreement, the Servicer shall not be deemed to be in default, breach or
          any
          other violation of its obligations hereunder by reason of any assumption
          of a
          Mortgage Loan by operation of law or any assumption which the Servicer
          may be
          restricted by law from preventing, for any reason whatsoever. For purposes
          of
          this Section 6.01, the term "assumption" is deemed to also include a sale
          of the
          Mortgaged Property subject to the Mortgage that is not accompanied by an
          assumption or substitution of liability agreement.

        

        Section
          6.02 Satisfaction
          of Mortgages and Release of Mortgage Loan Documents.

        

        Upon
          the
          payment in full of any Mortgage Loan, the Servicer will immediately notify
          the
          Custodian with a certification and request for release by a Servicing Officer,
          which certification shall include a statement to the effect that all amounts
          received in connection with such payment which are required to be deposited
          in
          the Custodial Account pursuant to Section 4.04 have been so deposited,
          and a
          request for delivery to the Servicer of the portion of the Mortgage Loan
          Documents held by the Custodian, and unless the related Mortgage Loans
          are the
          subject of a Pass-Through Transfer, such request is to be acknowledged
          by the
          Owner. Upon receipt of such certification and request, the Owner shall
          promptly
          release or cause the Custodian to promptly release the related Mortgage
          Loan
          Documents to the Servicer and the Servicer shall prepare and deliver for
          execution by the Owner or at the Owner's option execute under the authority
          of a
          power of attorney delivered to the Servicer by the Owner any satisfaction
          or
          release. No expense incurred in connection with any instrument of satisfaction
          or deed of reconveyance shall be chargeable to the Custodial
          Account.

        

        In
          the
          event the Servicer satisfies or releases a Mortgage without having obtained
          payment in full of the indebtedness secured by the Mortgage or should it
          otherwise prejudice any right the Owner may have under the mortgage instruments,
          the Servicer, upon written demand, shall remit within two Business Days
          to the
          Owner the then outstanding principal balance of the related Mortgage Loan
          by
          deposit thereof in the Custodial Account. The Servicer shall maintain the
          Fidelity Bond insuring the Servicer against any loss it may sustain with
          respect
          to any Mortgage Loan not satisfied in accordance with the procedures set
          forth
          herein.

        

        From
          time
          to time and as appropriate for the servicing or foreclosure of the Mortgage
          Loans, including for the purpose of collection under any Primary Mortgage
          Insurance Policy, upon request of the Servicer and delivery to the Custodian
          of
          a servicing receipt signed by a Servicing Officer (and unless the related
          Mortgage Loans are the subject of a Pass-Through Transfer, acknowledged
          by the
          Owner), the Custodian shall release the portion of the Mortgage Loan Documents
          held by the Custodian to the Servicer. Such servicing receipt shall obligate
          the
          Servicer to promptly return the related Mortgage Loan Documents to the
          Custodian, when the need therefor by the Servicer no longer exists, unless
          the
          Mortgage Loan has been liquidated and the Liquidation Proceeds relating
          to the
          Mortgage Loan have been deposited in the Custodial Account or such documents
          have been delivered to an attorney, or to a public trustee or other public
          official as required by law, for purposes of initiating or pursuing legal
          action
          or other proceedings for the foreclosure of the Mortgaged Property either
          judicially or non-judicially, and the Servicer has promptly delivered to
          the
          Owner or the Custodian a certificate of a Servicing Officer certifying
          as to the
          name and address of the Person to which such documents were delivered and
          the
          purpose or purposes of such delivery. Upon receipt of a certificate of
          a
          Servicing Officer stating that such Mortgage Loan was liquidated, the servicing
          receipt shall be released by the Owner or the Custodian, as applicable,
          to the
          Servicer.

        

        Section
          6.03 Servicing
          Compensation.

        

        As
          compensation for its services hereunder, the Servicer shall be entitled
          to
          withdraw from the Custodial Account or to retain from interest payments
          on the
          Mortgage Loans the amounts provided for as the Servicer's Servicing Fee.
          Additional servicing compensation in the form of assumption fees, as provided
          in
          Section 6.01, late payment charges and other ancillary fees shall be retained
          by
          the Servicer to the extent not required to be deposited in the Custodial
          Account. The Servicer shall be required to pay all expenses incurred by
          it in
          connection with its servicing activities hereunder and shall not be entitled
          to
          reimbursement therefor except as specifically provided for.

        

        Section
          6.04 Annual
          Statement as to Compliance.

        

        The
          Servicer will deliver to the Owner not later than 90 days following the
          end of
          each fiscal year of the Servicer, an Officers' Certificate stating, as
          to each
          signatory thereof, that (i) a review of the activities of the Servicer
          during
          the preceding calendar year and of performance under this Agreement has
          been
          made under such officers' supervision, and (ii) to the best of such officers'
          knowledge, based on such review, the Servicer has fulfilled all of its
          obligations under this Agreement throughout such year, or, if there has
          been a
          default in the fulfillment of any such obligation, specifying each such
          default
          known to such officers and the nature and status thereof except for such
          defaults as such Officers in their good faith judgment believe to be
          immaterial.

        

        Section
          6.05 Annual
          Independent Certified Public Accountants' Servicing Report.

        

        Not
          later
          than 90 days following the end of each fiscal year of the Servicer, the
          Servicer
          at its expense shall cause a firm of independent public accountants which
          is a
          member of the American Institute of Certified Public Accountants to furnish
          a
          statement to the Owner to the effect that such firm has examined certain
          documents and records relating to the Servicer's servicing of mortgage
          loans of
          the same type as the Mortgage Loans pursuant to servicing agreements
          substantially similar to this Agreement, which agreements may include this
          Agreement, and that, on the basis of such an examination, conducted
          substantially in accordance with the Uniform Single Attestation Program
          for
          Mortgage Bankers, such firm is of the opinion that the Servicer's servicing
          has
          been conducted in compliance with the agreements examined pursuant to this
          Section 6.05, except for (i) such exceptions as such firm shall believe
          to be
          immaterial, and (ii) such other exceptions as shall be set forth in such
          statement.

        

        Section
          6.06 Owner's
          Right to Examine Servicer Records.

        

        The
          Owner
          shall have the right to examine and audit, at its expense, upon reasonable
          notice to the Servicer, during business hours or at such other times as
          might be
          reasonable under applicable circumstances, any and all of the books, records,
          documentation or other information of the Servicer, or held by another
          for the
          Servicer or on its behalf or otherwise, which relate to the performance
          or
          observance by the Servicer of the terms, covenants or conditions of this
          Agreement.

        

        The
          Servicer shall provide to the Owner and any supervisory agents or examiners
          representing a state or federal governmental agency having jurisdiction
          over the
          Owner, including but not limited to OTS, FDIC and other similar entities,
          access
          to any documentation regarding the Mortgage Loans in the possession of
          the
          Servicer which may be required by any applicable regulations. Such access
          shall
          be afforded without charge, upon reasonable request, during normal business
          hours and at the offices of the Servicer, and in accordance with the applicable
          federal government agency, FDIC, OTS, or any other similar
          regulations.

        

        Section
          6.07 Compliance
          with REMIC Provisions.

        

        If
          a
          REMIC election has been made with respect to the arrangement under which
          the
          Mortgage Loans and REO Property are held, the Servicer shall not take any
          action, cause the REMIC to take any action or fail to take (or fail to
          cause to
          be taken) any action that, under the REMIC Provisions, if taken or not
          taken, as
          the case may be could (i) endanger the status of the REMIC as a REMIC or
          (ii)
          result in the imposition of a tax upon the REMIC (including but not limited
          to
          the tax on “prohibited transactions” as defined in Section 860F(a)(2) of the
          Code and the tax on “contribution” to a REMIC set forth in Section 860G(d) of
          the Code unless the Servicer has received an Opinion of Counsel (at the
          expense
          of the party seeking to take such actions) to the effect that the contemplated
          action will not endanger such REMIC status or result in the imposition
          of any
          such tax.

        

        Section
          6.08 Non-solicitation.

        

        The
          Servicer shall not knowingly conduct any solicitation exclusively targeted
          to
          the Mortgagors for the purpose of inducing or encouraging the early prepayment
          or refinancing of the related Mortgage Loans. It is understood and agreed
          that
          promotions undertaken by the Servicer or any agent or affiliate of the
          Servicer
          which are directed to the general public at large, including, without
          limitation, mass mailings based on commercially acquired mailing lists,
          newspaper, radio and television advertisements shall not constitute solicitation
          under this section. Nothing
          contained herein shall prohibit the Servicer from (i) distributing to Mortgagors
          any general advertising including information brochures, coupon books,
          or other
          similar documentation which indicates services the Seller offers, including
          refinances or (ii) providing financing of home equity loans to Mortgagors
          at the
          Mortgagor’s request.

        

        

        ARTICLE
          VII

        

        REPORTS
          TO BE PREPARED BY SERVICER

        

        Section
          7.01 Servicer
          Shall Provide Information as Reasonably Required.

        

        The
          Servicer shall furnish to the Owner upon request, during the term of this
          Agreement, such periodic, special or other reports or information, whether
          or
          not provided for herein, as shall be necessary, reasonable or appropriate
          with
          respect to the purposes of this Agreement. The Servicer may negotiate with
          the
          Owner for a reasonable fee for providing such report or information, unless
          (i)
          the Servicer is required to supply such report or information pursuant
          to any
          other section of this Agreement, or (ii) the report or information has
          been
          requested in connection with Internal Revenue Service, OTS, FDIC or other
          regulatory agency requirements. All such reports or information shall be
          provided by and in accordance with all reasonable instructions and directions
          given by the Owner. The
          Servicer agrees to execute and deliver all such instruments and take all
          such
          action as the Owner, from time to time, may reasonably request in order
          to
          effectuate the purpose and to carry out the terms of this Agreement.

        

        ARTICLE
          VIII

        

        THE
          SERVICER

        

        Section
          8.01 Indemnification;
          Third Party Claims.

        

        The
          Servicer agrees to indemnify the Owner and hold it harmless from and against
          any
          and all claims, losses, damages, penalties, fines, forfeitures, legal fees
          and
          related costs, judgments, and any other costs, fees and expenses that the
          Owner
          may sustain in any way related to the failure of the Servicer to perform
          in any
          way its duties and service the Mortgage Loans in strict compliance with
          the
          terms of this Agreement and for breach of any representation or warranty
          of the
          Servicer contained herein. The Servicer shall immediately notify the Owner
          if a
          claim is made by a third party with respect to this Agreement or the Mortgage
          Loans, assume (with the consent of the Owner and with counsel reasonably
          satisfactory to the Owner) the defense of any such claim and pay all expenses
          in
          connection therewith, including counsel fees, and promptly pay, discharge
          and
          satisfy any judgment or decree which may be entered against it or the Owner
          in
          respect of such claim but failure to so notify the Owner shall not limit
          its
          obligations hereunder. The Servicer agrees that it will not enter into
          any
          settlement of any such claim without the consent of the Owner unless such
          settlement includes an unconditional release of the Owner from all liability
          that is the subject matter of such claim. The provisions of this Section
          8.01
          shall survive termination of this Agreement. In no event will either Purchaser
          or Seller be liable to the other party to this Agreement for incidental
          or
          consequential damages, including, without limitation, loss of profit or
          loss of
          business or business opportunity, regardless of the form of action whether
          in
          contract, tort or otherwise.

         

        Section
          8.02 Merger
          or Consolidation of the Servicer.

        

        The
          Servicer will keep in full effect its existence, rights and franchises
          as a
          corporation under the laws of the state of its incorporation except as
          permitted
          herein, and will obtain and preserve its qualification to do business as
          a
          foreign corporation in each jurisdiction in which such qualification is
          or shall
          be necessary to protect the validity and enforceability of this Agreement
          or any
          of the Mortgage Loans and to perform its duties under this
          Agreement.

        

        Any
          Person into which the Servicer may be merged or consolidated, or any corporation
          resulting from any merger, conversion or consolidation to which the Servicer
          shall be a party, or any Person succeeding to the business of the Servicer
          whether or not related to loan servicing, shall be the successor of the
          Servicer
          hereunder, without the execution or filing of any paper or any further
          act on
          the part of any of the parties hereto, anything herein to the contrary
          notwithstanding; provided, however, that the successor or surviving Person
          shall
          be an institution (i) having a GAAP net worth of not less than $25,000,000,
          (ii)
          the deposits of which are insured by the FDIC, SAIF and/or BIF, or which
          is a
          HUD-approved mortgagee whose primary business is in origination and servicing
          of
          first lien mortgage loans, and (iii) which is a Fannie Mae or Freddie Mac
          approved seller/servicer in good standing.

        

        
          	 	
                  Section
                    8.03 Limitation
                    on Liability of the Servicer and Others.

                

        

        

        Neither
          the Servicer nor any of the officers, employees or agents of the Servicer
          shall
          be under any liability to the Owner for any action taken or for refraining
          from
          the taking of any action in good faith pursuant to this Agreement, or for
          errors
          in judgment made in good faith; provided, however, that this provision
          shall not
          protect the Servicer or any such person against any breach of warranties
          or
          representations made herein, or failure to perform in any way its obligations
          in
          compliance with any standard of care set forth in this Agreement, or any
          liability which would otherwise be imposed by reason of negligence or any
          breach
          of the terms and conditions of this Agreement. The Servicer and any officer,
          employee or agent of the Servicer may rely in good faith on any document
          of any
          kind prima facie properly executed and submitted by the Owner respecting
          any
          matters arising hereunder. The Servicer shall not be under any obligation
          to
          appear in, prosecute or defend any legal action which is not incidental
          to its
          duties to service the Mortgage Loans in accordance with this Agreement
          and which
          in its opinion may involve it in any expenses or liability; provided, however,
          that the Servicer may, with the consent of the Owner, which consent shall
          not be
          unreasonably withheld, undertake any such action which it may deem necessary
          or
          desirable with respect to this Agreement and the rights and duties of the
          parties hereto. In such event, the reasonable legal expenses and costs
          of such
          action and any liability resulting therefrom shall be expenses, costs and
          liabilities for which the Owner will be liable, and the Servicer shall
          be
          entitled to be reimbursed therefor from the Owner upon written
          demand.

        

        
          	 	
                  Section
                    8.04 Servicer
                    Not to Resign.

                

        

        

        The
          Servicer shall not resign from the obligations and duties hereby imposed
          on it
          except by mutual consent of the Servicer and the Owner or upon the determination
          that its duties hereunder are no longer permissible under applicable law
          and
          such incapacity cannot be cured by the Servicer. Any such determination
          permitting the resignation of the Servicer shall be evidenced by an Opinion
          of
          Counsel to such effect delivered to the Owner which Opinion of Counsel
          shall be
          in form and substance acceptable to the Owner. No such resignation shall
          become
          effective until a successor shall have assumed the Servicer's responsibilities
          and obligations hereunder in the manner provided in Section 11.01.

        

        Section
          8.05 No
          Transfer of Servicing.

        

          With
          respect to the retention of the Servicer to service the Mortgage Loans
          hereunder, the Servicer acknowledges that the Owner has acted in reliance
          upon
          the Servicer's independent status, the adequacy of its servicing facilities,
          plan, personnel, records and procedures, its integrity, reputation and
          financial
          standing and the continuance thereof. Without in any way limiting the generality
          of this section, the Servicer shall not either assign this Agreement or
          the
          servicing hereunder or delegate its rights or duties hereunder or any portion
          thereof, or sell or otherwise dispose of all or substantially all of its
          property or assets, without the prior written approval of the Owner, which
          approval shall not be unreasonably withheld; provided that the Servicer
          may
          assign the Agreement and the servicing hereunder without the consent of
          Owner to
          an affiliate of the Servicer to which all servicing of the Servicer is
          assigned
          so long as (i) such affiliate is a Fannie Mae and Freddie Mac approved
          servicer
          and (ii) if it is intended that such affiliate be spun off to the shareholders
          of the Servicer, such affiliate have a GAAP net worth of at least $10,000,000
          and (iii) such affiliate shall deliver to the Owner a certification pursuant
          to
          which such affiliate shall agree to be bound by the terms and conditions
          of this
          Agreement and shall certify that such affiliate is a Fannie Mae and Freddie
          Mac
          approved servicer in good standing.

        

        ARTICLE
          IX

         

        DEFAULT

         

        Section
          9.01 Events
          of Default.

        In
          case
          one or more of the following Events of Default by the Servicer shall occur
          and
          be continuing, that is to say:

        

        (i) any
          failure by the Servicer to remit to the Owner any payment required to be
          made
          under the terms of this Agreement which continues unremedied for a period
          of
          three (3) Business Days after written notice thereof
          (it
          being understood that this subparagraph shall not affect Servicer's obligation
          pursuant to Section 5.01 to pay default interest on any remittance received
          by
          the Owner after the Business Day on which such payment was due); or

        

        (ii) any
          failure on the part of the Servicer duly to observe or perform in any material
          respect any other of the covenants or agreements on the part of the Servicer
          set
          forth in this Agreement, the breach of which has a material adverse effect
          and
          which continue unremedied for a period of sixty days (except that such
          number of
          days shall be fifteen in the case of a failure to pay any premium for any
          insurance policy required to be maintained under this Agreement and such
          failure
          shall be deemed to have a material adverse effect) after the date on which
          written notice of such failure, requiring the same to be remedied, shall
          have
          been given to the Servicer by the Owner; or

        

        (iii) a
          decree
          or order of a court or agency or supervisory authority having jurisdiction
          for
          the appointment of a conservator or receiver or liquidator in any insolvency,
          bankruptcy, readjustment of debt, marshaling of assets and liabilities
          or
          similar proceedings, or for the winding-up or liquidation of its affairs,
          shall
          have been entered against the Servicer and such decree or order shall have
          remained in force undischarged or unstayed for a period of sixty days;
          or

        

        (iv) the
          Servicer shall consent to the appointment of a conservator or receiver
          or
          liquidator in any insolvency, bankruptcy, readjustment of debt, marshaling
          of
          assets and liabilities or similar proceedings of or relating to the Servicer
          or
          of or relating to all or substantially all of its property; or

        

        (v) the
          Servicer shall admit in writing its inability to pay its debts generally
          as they
          become due, file a petition to take advantage of any applicable insolvency
          or
          reorganization statute, make an assignment for the benefit of its creditors,
          or
          voluntarily suspend payment of its obligations; or

        

        (vi) the
          Servicer ceases to be approved by either Fannie Mae or Freddie Mac (to
          the
          extent such entities are then operating in a capacity similar to that in
          which
          they operate on the Closing Date) as a mortgage loan servicer for more
          than
          thirty days to the extent such entities perform similar functions;
          or

        

        (vii) the
          Servicer attempts to assign its right to servicing compensation hereunder
          or the
          Servicer attempts, without the consent of the Owner, to sell or otherwise
          dispose of all or substantially all of its property or assets or to assign
          this
          Agreement or the servicing responsibilities hereunder or to delegate its
          duties
          hereunder or any portion thereof except as otherwise permitted
          herein.

         

        then,
          and
          in each and every such case, so long as an Event of Default shall not have
          been
          remedied, the Owner, by notice in writing to the Servicer may, in addition
          to
          whatever rights the Owner may have under Section 8.01 and at law or equity
          to
          damages, including injunctive relief and specific performance, terminate
          all the
          rights and obligations of the Servicer under this Agreement and in and
          to the
          Mortgage Loans and the proceeds thereof without compensating the Servicer
          for
          the same. On or after the receipt by the Servicer of such written notice,
          all
          authority and power of the Servicer under this Agreement, whether with
          respect
          to the Mortgage Loans or otherwise, shall pass to and be vested in the
          successor
          appointed pursuant to Section 11.01. Upon written request from the Owner,
          the
          Servicer shall prepare, execute and deliver, any and all documents and
          other
          instruments, place in such successor's possession all Servicing Files,
          and do or
          accomplish all other acts or things necessary or appropriate to effect
          the
          purposes of such notice of termination, whether to complete the transfer
          and
          endorsement or assignment of the Mortgage Loans and related documents,
          or
          otherwise, at the Servicer's sole expense. The Servicer agrees to cooperate
          with
          the Owner and such successor in effecting the termination of the Servicer's
          responsibilities and rights hereunder, including, without limitation, the
          transfer to such successor for administration by it of all cash amounts
          which
          shall at the time be credited by the Servicer to the Custodial Account
          or Escrow
          Account or thereafter received with respect to the Mortgage Loans or any
          REO
          Property.

        
        

        
          
            Section
              9.02 Waiver
              of Defaults.

          

        

        The
          Owner
          may waive only by written notice any default by the Servicer in the performance
          of its obligations hereunder and its consequences. Upon any such waiver
          of a
          past default, such default shall cease to exist, and any Event of Default
          arising therefrom shall be deemed to have been remedied for every purpose
          of
          this Agreement. No such waiver shall extend to any subsequent or other
          default
          or impair any right consequent thereon except to the extent expressly so
          waived
          in writing.

        

        ARTICLE
          X

        

        TERMINATION

        

        Section
          10.01 Termination.

        

        The
          respective obligations and responsibilities of the Servicer shall terminate
          upon: (i) the later of the final payment or other liquidation (or any advance
          with respect thereto) of the last Mortgage Loan or the disposition of all
          REO
          Property and the remittance of all funds due hereunder; or (ii) by mutual
          consent of the Servicer and the Owner in writing; or (iii) termination
          by the
          Owner pursuant to Section 9.01. Simultaneously with any such termination
          and the
          transfer of servicing hereunder, the Servicer shall be entitled to be reimbursed
          for any outstanding Servicing Advances and Monthly Advances. 

        

        Section
          10.02 Removal
          of Mortgage Loans from Inclusion under this Agreement upon a Whole
 Loan
          Transfer or a Pass-Through Transfer.

        

        The
          Servicer acknowledges and the Owner agrees that with respect to some or
          all of
          the Mortgage Loans, the Owner may effect either (1) one or more Whole Loan
          Transfers, or (2) one or more Pass-Through Transfers.

        

        The
          Servicer shall cooperate with the Owner in connection with any Whole Loan
          Transfer or Pass-Through Transfer contemplated by the Owner pursuant to
          this
          Section. In connection therewith, and without limitation, the Owner shall
          deliver any reconstitution agreement or other document related to the Whole
          Loan
          Transfer or Pass-Through Transfer to the Servicer at least 15 days prior
          to such
          transfer (or 30 days if such transfer is to take place in March, June,
          September
          or December) and the Servicer shall execute any such reconstitution agreement
          which contains provisions substantially similar to those herein or otherwise
          reasonably acceptable to the Owner and the Servicer and which restates
          the
          representations and warranties contained in Article III as of the date
          of
          transfer (except to the extent any such representation or warranty is not
          accurate on such date). 

        

        With
          respect to each Whole Loan Transfer or Pass--Through Transfer, as the case
          may
          be, effected by the Owner, Owner (i) shall reimburse Servicer for all reasonable
          out-of-pocket third party costs and expenses related thereto and (ii) shall
          pay
          Servicer a reasonable amount representing time and effort expended by Servicer
          related thereto (which amount shall be reasonably agreed upon by Servicer
          and
          Owner prior to the expenditure of such time and effort); provided,
          however,
          that
          for each Whole Loan Transfer and/or Pass--Through Transfer, the sum of
          such
          amounts described in subsections (i) and (ii) above shall in no event exceed
          $5,000. For purposes of this paragraph, all Whole Loan Transfers and/or
          Pass--Through Transfers made to the same entity within the same accounting
          cycle
          shall be considered one Whole Loan Transfer or Pass--Through
          Transfer.

        

        All
          Mortgage Loans not sold or transferred pursuant to a Whole Loan Transfer
          or
          Pass-Through Transfer shall be subject to this Agreement and shall continue
          to
          be serviced in accordance with the terms of this Agreement and with respect
          thereto this Agreement shall remain in full force and effect.

        

         

        ARTICLE
          XI

        

        MISCELLANEOUS
          PROVISIONS

        

        Section
          11.01 Successor
          to the Servicer.

        

        Prior
          to
          termination of the Servicer's responsibilities and duties under this Agreement
          pursuant to Sections 8.04, 9.01 or 10.01(ii), the Owner shall (i) succeed
          to and
          assume all of the Servicer's responsibilities, rights, duties and obligations
          under this Agreement, or (ii) appoint a successor having the characteristics
          set
          forth in Section 8.02 hereof and which shall succeed to all rights and
          assume
          all of the responsibilities, duties and liabilities of the Servicer under
          this
          Agreement prior to the termination of the Servicer's responsibilities,
          duties
          and liabilities under this Agreement. In connection with such appointment
          and
          assumption, the Owner may make such arrangements for the compensation of
          such
          successor out of payments on Mortgage Loans as the Owner and such successor
          shall agree. In the event that the Servicer's duties, responsibilities
          and
          liabilities under this Agreement should be terminated pursuant to the
          aforementioned sections, the Servicer shall discharge such duties and
          responsibilities during the period from the date it acquires knowledge
          of such
          termination until the effective date thereof with the same degree of diligence
          and prudence which it is obligated to exercise under this Agreement, and
          shall
          take no action whatsoever that might impair or prejudice the rights or
          financial
          condition of its successor. The resignation or removal of the Servicer
          pursuant
          to the aforementioned sections shall not become effective until a successor
          shall be appointed pursuant to this section and shall in no event relieve
          the
          Servicer of the representations and warranties made pursuant to Article
          III and
          the remedies available to the Owner under Section 8.01, it being understood
          and
          agreed that the provisions of such Article III and Section 8.01 shall be
          applicable to the Servicer notwithstanding any such resignation or termination
          of the Servicer, or the termination of this Agreement.

        

        Any
          successor appointed as provided herein shall execute, acknowledge and deliver
          to
          the Servicer and to the Owner an instrument accepting such appointment,
          whereupon such successor shall become fully vested with all the rights,
          powers,
          duties, responsibilities, obligations and liabilities of the Servicer,
          with like
          effect as if originally named as a party to this Agreement. Any termination
          or
          resignation of the Servicer or this Agreement pursuant to Section 8.04,
          9.01 or
          10.01 shall not affect any claims that the Owner may have against the Servicer
          arising prior to any such termination or resignation.

        

        The
          Servicer shall promptly deliver to the successor the funds in the Custodial
          Account and the Escrow Account and the Servicing Files and related documents
          and
          statements held by it hereunder and the Servicer shall account for all
          funds.
          The Servicer shall execute and deliver such instruments and do such other
          things
          all as may reasonably be required to more fully and definitely vest and
          confirm
          in the successor all such rights, powers, duties, responsibilities, obligations
          and liabilities of the Servicer. The successor shall make such arrangements
          as
          it may deem appropriate to reimburse the Servicer for unrecovered Servicing
          Advances which the successor retains hereunder and which would otherwise
          have
          been recovered by the Servicer pursuant to this Agreement but for the
          appointment of the successor servicer.

        

        Upon
          a
          successor's acceptance of appointment as such, the Servicer shall notify
          the
          Owner of such appointment.

        

        Section
          11.02 Amendment.

         

        This
          Agreement may be amended from time to time by the Servicer and the Owner
          by
          written agreement signed by the Servicer and the Owner.

        

        Section
          11.03 Recordation
          of Agreement.

        

        To
          the
          extent permitted by applicable law, this Agreement is subject to recordation
          in
          all appropriate public offices for real property records in all the counties
          or
          other comparable jurisdictions in which any of all the properties subject
          to the
          Mortgages are situated, and in any other appropriate public recording office
          or
          elsewhere, such recordation to be effected by the Owner at the Owner's
          expense
          on direction of the Owner accompanied by an opinion of counsel to the effect
          that such recordation materially and beneficially affects the interest
          of the
          Owner or is necessary for the administration or servicing the Mortgage
          Loans.

        

        Section
          11.04 Governing
          Law.

         

        THIS
          AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL
          LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS
          OF LAWS. THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
          SHALL BE
          DETERMINED IN ACCORDANCE WITH SUCH LAWS.

        

        Section
          11.05 Notices.

        

        Any
          demands, notices or other communications permitted or required hereunder
          shall
          be in writing and shall be deemed conclusively to have been given if personally
          delivered at or mailed by registered mail, postage prepaid, and return
          receipt
          requested or transmitted by telecopier and confirmed by a similar mailed
          writing, as follows:

         

        
          	(i)	if
                  to the Servicer:
	 	 
	 	
                  500
                    Enterprise Road

                  Horsham,
                    Pennsylvania 19044

                  Attention:
                    Mr. Frank Ruhl

                  Telecopier
                    No.: (215) 682-3396

                
	 	 
	(ii)	if
                  to the Owner:
	 	 
	 	
                  Mac
                    Arthur Ridge II, 

                  909
                    Hidden Ridge Drive, Suite 200

                  Irving,
                    Texas 75038

                  Attention:
                    Mr. Edward Raice

                  Telecopier
                    No.: (972) 444-2810 

                

        

         

        or
          such
          other address as may hereafter be furnished to the other party by like
          notice.
          Any such demand, notice, or communication hereunder shall be deemed to
          have been
          received on the date delivered to or received at the premises of the address
          (as
          evidenced, in the case of registered or certified mail, by the date noted
          on the
          return receipt).

        

        Section
          11.06 Severability
          of Provisions.

        

        Any
          part,
          provision, representation or warranty of this Agreement which is prohibited
          or
          which is held to be void or unenforceable shall be ineffective to the extent
          of
          such prohibition or unenforceability without invalidating the remaining
          provisions hereof. Any part, provision, representation or warranty of this
          Agreement which is prohibited or unenforceable or is held to be void or
          unenforceable in any jurisdiction shall be ineffective, as to such jurisdiction,
          to the extent of such prohibition or unenforceability without invalidating
          the
          remaining provisions hereof, and any such prohibition or unenforceability
          in any
          jurisdiction as to any Mortgage Loan shall not invalidate or render
          unenforceable such provision in any other jurisdiction. To the extent permitted
          by applicable law, the parties hereto waive any provision of law which
          prohibits
          or renders void or unenforceable any provision hereof. If the invalidity
          of any
          part, provision, representation or warranty of this Agreement shall deprive
          any
          party of the economic benefit intended to be conferred by this Agreement,
          the
          parties shall negotiate, in good faith, to develop a structure the economic
          effect of which is nearly as possible the same as the economic effect of
          this
          Agreement without regard to such invalidity.

        

        Section
          11.07 Exhibits.

         

        The
          exhibits to this Agreement are hereby incorporated and made a part hereof
          and
          are an integral part of this Agreement.

         

        Section
          11.08 General
          Interpretive Principles.

        

        For
          purposes of this Agreement, except as otherwise expressly provided or unless
          the
          context otherwise requires:

        

        (i) the
          terms
          defined in this Agreement have the meanings assigned to them in this Agreement
          and include the plural as well as the singular, and the use of any gender
          herein
          shall be deemed to include the other gender;

        

        (ii) accounting
          terms not otherwise defined herein have the meanings assigned to them in
          accordance with generally accepted accounting principles;

        

        (iii) references
          herein to "Articles," "Sections," "Subsections," "Paragraphs," and other
          subdivisions without reference to a document are to designated Articles,
          Sections, Subsections, Paragraphs and other subdivisions of this
          Agreement;

        

        (iv) a
          reference to a Subsection without further reference to a Section is a reference
          to such Subsection as contained in the same Section in which the reference
          appears, and this rule shall also apply to Paragraphs and other
          subdivisions;

        

        (v) the
          words
          "herein," "hereof," "hereunder" and other words of similar import refer
          to this
          Agreement as a whole and not to any particular provision; and 

        

        (vi) the
          term
          "include" or "including" shall mean without limitation by reason of
          enumeration.

        

        Section
          11.09 Reproduction
          of Documents.

        

        This
          Agreement and all documents relating hereto, including, without limitation,
          (i)
          consents, waivers and modifications which may hereafter be executed, (ii)
          documents received by any party at the closing, and (iii) financial statements,
          certificates and other information previously or hereafter furnished, may
          be
          reproduced by any photographic, photostatic, microfilm, micro-card, miniature
          photographic or other similar process. The parties agree that any such
          reproduction shall be admissible in evidence as the original itself in
          any
          judicial or administrative proceeding, whether or not the original is in
          existence and whether or not such reproduction was made by a party in the
          regular course of business, and that any enlargement, facsimile or further
          reproduction of such reproduction shall likewise be admissible in
          evidence.

        

        Section
          11.10 Confidentiality
          of Information.

        

        Each
          party recognizes that, in connection with this Agreement, it may become
          privy to
          non-public information regarding the financial condition, operations and
          prospects of the other party. Except as required to be disclosed by law,
          each
          party agrees to keep all non-public information regarding the other party
          strictly confidential, and to use all such information solely in order
          to
          effectuate the purpose of this Agreement.

        

        Section
          11.11 Recordation
          of Assignments of Mortgage.

        

        To
          the
          extent permitted by applicable law, each of the Assignments of Mortgage
          is
          subject to recordation in all appropriate public offices for real property
          records in all the counties or other comparable jurisdictions in which
          any or
          all of the Mortgaged Properties are situated, and in any other appropriate
          public recording office or elsewhere, such recordation to be effected by
          the
          Servicer at the Owner's expense.

        

        Section
          11.12 Assignment
          by the Owner.

        

        The
          Owner
          shall have the right, without the consent of the Servicer hereof, to assign,
          in
          whole or in part, its interest under this Agreement with respect to some
          or all
          of the Mortgage Loans, and designate any person to exercise any rights
          of the
          Owner hereunder, by executing an assignment and assumption agreement reasonably
          acceptable to the Servicer and the assignee or designee shall accede to
          the
          rights and obligations hereunder of the Owner with respect to such Mortgage
          Loans. In no event shall Owner sell a partial interest in any Mortgage
          Loan. All
          references to the Owner in this Agreement shall be deemed to include its
          assignees or designees. It is understood and agreed between the Owners
          and the
          Servicer that no more than five (5) Persons shall have the right of owner
          under
          this Agreement at any one time.

        

        Section
          11.13 No
          Partnership.

        

        Nothing
          herein contained shall be deemed or construed to create a co-partnership
          or
          joint venture between the parties hereto and the services of the Servicer
          shall
          be rendered as an independent contractor and not as agent for
          Owner.

        

        Section
          11.14 Execution;
          Successors and Assigns.

        

        This
          Agreement may be executed in one or more counterparts and by the different
          parties hereto on separate counterparts, each of which, when so executed,
          shall
          be deemed to be an original; such counterparts, together, shall constitute
          one
          and the same agreement. Subject to Section 8.04, this Agreement shall inure
          to
          the benefit of and be binding upon the Servicer and the Owner and their
          respective successors and assigns.

        

        Section
          11.15 Entire
          Agreement.

        

        Each
          of
          the Servicer and the Owner acknowledge that no representations, agreements
          or
          promises were made to it by the other party or any of its employees other
          than
          those representations, agreements or promises specifically contained herein.
          This Agreement sets forth the entire understanding between the parties
          hereto
          and shall be binding upon all successors of both parties.

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

        IN
          WITNESS WHEREOF, the Servicer and the Owner have caused their names to
          be signed
          hereto by their respective officers thereunto duly authorized as of the
          date and
          year first above written.

        

        

         

        
          	 	 	 
	 	
                  GMAC MORTGAGE CORPORATION

                  Servicer

                
	 
 	 
 	 
 
	 	By:  	 
	 	
                  
Name:

	 	Title:

          	 	 	 
	 	
                  EMC
                    MORTGAGE CORPORATION

                  Owner

                
	 
 	 
 	 
 
	 	By:  	 
	 	
                  

                
	 	 

        

        

         

        
          
            
               

            

            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

        EXHIBIT
          A

        

        MORTGAGE
          LOAN SCHEDULE

        

        
          
            
               

            

            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

        EXHIBIT
          B

        

        CUSTODIAL
          ACCOUNT LETTER AGREEMENT

        (date)

        

        

        To:______________________

        _________________________

        _________________________

        (the
          "Depository")

        

        As
          "Servicer" under the Servicing Agreement, dated as of  ,
          (the
          "Agreement"), we hereby authorize and request you to establish an account,
          as a
          Custodial Account pursuant to Section 4.04 of the Agreement, to be designated
          as
          "[Servicer] Custodial Account, in trust for [Owner], Owner of Whole Loan
          Mortgages, and various Mortgagors." All deposits in the account shall be
          subject
          to withdrawal therefrom by order signed by the Servicer. You may refuse
          any
          deposit which would result in violation of the requirement that the account
          be
          fully insured as described below. This letter is submitted to you in duplicate.
          Please execute and return one original to us.

         

        By:____________________

        Name:__________________

        Title:_________________

        

        The
          undersigned, as "Depository", hereby certifies that the above described
          account
          has been established under Account Number __________, at the office of
          the
          depository indicated above, and agrees to honor withdrawals on such account
          as
          provided above. The full amount deposited at any time in the account will
          be
          insured up to applicable limits by the Federal Deposit Insurance Corporation
          through the Bank Insurance Fund or the Savings Association Insurance Fund
          or
          will be invested in Permitted Investments as defined in the
          Agreement.

        

        [
          ]

        (name
          of
          Depository)

        By:____________________

        Name:__________________

        Title:_________________

        

        
          
            
               

            

            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

        EXHIBIT
          C

        

        ESCROW
          ACCOUNT LETTER AGREEMENT

        

        (date)

        

        To:___________________________

        ______________________________

        ______________________________

        (the
          "Depository")

        

        As
          "Servicer" under the Servicing Agreement, dated as of  
          (the
          "Agreement"), we hereby authorize and request you to establish an account,
          as an
          Escrow Account pursuant to Section 4.06 of the Agreement, to be designated
          as
          "[Servicer] Escrow Account, in trust for [Owner], Owner of Whole Loan Mortgages,
          and various Mortgagors." All deposits in the account shall be subject to
          withdrawal therefrom by order signed by the Servicer. You may refuse any
          deposit
          which would result in violation of the requirement that the account be
          fully
          insured as described below. This letter is submitted to you in duplicate.
          Please
          execute and return one original to us.

        

        By:____________________

        Name:__________________

        Title:_________________

        

        The
          undersigned, as "Depository", hereby certifies that the above described
          account
          has been established under Account Number __________, at the office of
          the
          depository indicated above, and agrees to honor withdrawals on such account
          as
          provided above. The full amount deposited at any time in the account will
          be
          insured up to applicable limits by the Federal Deposit Insurance Corporation
          through the Bank Insurance Fund or the Savings Association Insurance Fund
          or
          will be invested in Permitted Investments as defined in the
          Agreement.

        

        [
          ]

        (name
          of
          Depository)

        By:____________________

        Name:__________________

        Title:_________________

        

        
          
            
               

            

            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

        EXHIBIT
          D

        

        REQUEST
          FOR RELEASE

        

        

        
          
            
               

            

            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

        EXHIBIT
          E

        

        LOAN
          LEVEL SCHEDULED-SCHEDULED

        REMITTANCE
          TAPE LAYOUT

        

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

      

        Amendment
          No. 1 to the Servicing Agreement

        

        This
          is
          Amendment No. 1 dated October 1, 2001 to that certain Servicing Agreement
          (the
“Agreement”) dated
          as
          of May 1, 2001 between
          EMC MORTGAGE CORPORATION, as Owner
          and
          GMAC MORTGAGE CORPORATION, as Servicer.

        

        W
          I T N E
          S S E T H :

        

        WHEREAS,
          the Owner is the owner of the Mortgage Loans and the Servicer is the servicer
          of
          the Mortgage Loans; and

        

        WHEREAS,
          the Owner and the Servicer wish to amend the Agreement;

        

        NOW,
          THEREFORE, in consideration of the mutual agreements hereinafter set forth,
          and
          for other good and valuable consideration, the receipt and adequacy of
          which is
          hereby acknowledged, the Purchaser and the Seller agree that the following
          amendment shall be made to the Agreement: 

        

        (a)
          The
          following shall replace (i)(a), (b) and (c) in the first paragraph of Section
          5.01: 

        

        “(i)
          all
          amounts credited to the Custodial Account as of the close of business on
          the
          related preceding Determination Date, except Principal Prepayments received
          on
          or after the first day of the month in which the Remittance Date occurs
          shall be
          remitted to the Owner on the next following Remittance Date,”

        

        (b)
          Capitalized terms used herein and not defined shall have the meanings set
          forth
          in the Agreement.

        

        (c)
          THIS
          AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL
          LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS
          OF LAWS. THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
          SHALL BE
          DETERMINED IN ACCORDANCE WITH SUCH LAWS.

        

        (d)
          Except as such amendments are made herein, the Agreement shall remain in
          full
          force and effect.

        

        [SIGNATURES
          COMMENCE ON THE FOLLOWING PAGE]

        
          
             

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        IN
          WITNESS WHEREOF, the Owner and the Servicer have caused their names to
          be signed
          hereto by their respective officers thereunto duly authorized as of the
          day and
          year first above written.

         

        
           

          
            
              
                
                  	 	EMC
                          MORTGAGE CORPORATION
                          Purchaser

                        	 
	 	 	 	 
	 	By:	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 	
                           

                        	 	 
	 	
                          
                            GMAC
                              MORTGAGE CORPORATION

                            Servicer

                          

                        	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title: 	 	 

                

              

            

          

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
 

        AMENDMENT
          NO. 2 TO THE MORTGAGE LOAN PURCHASE AGREEMENT

        

        This
          is
          Amendment No. 2 dated August 1, 2004 to that certain Mortgage Loan Purchase
          Agreement (the “Agreement”) dated
          as
          of May 1, 2001 between
          EMC MORTGAGE CORPORATION, as Purchaser
          and GMAC MORTGAGE CORPORATION, as Seller.

        

        W
          I T N E S S E T H:

        

        WHEREAS,
          the
          Purchaser is the Purchaser of the Mortgage Loans and the Seller is the
          Seller of
          the Mortgage Loans; and

        

        WHEREAS,
          the
          Purchaser and the Seller wish to amend the Agreement;

        

        NOW,
          THEREFORE,
          in
          consideration of the mutual agreements hereinafter set forth, and for other
          good
          and valuable consideration, the receipt and adequacy of which is hereby
          acknowledged, the Purchaser and the Seller agree that the following amendment
          shall be made to the Agreement: 

        

        
          	1.  	
                  Capitalized
                    terms used herein and not defined shall have the meanings set
                    forth in the
                    Agreement.

                

        

        

        
          	2.  	
                  Section
                    7.03. Repurchase:
                    Paragraph 4, as identified below, is hereby deleted
                    in its entirety:

                

        

        

        “In
          addition to such cure and repurchase obligation, the Seller shall indemnify
          the
          Purchaser and hold it harmless against any losses, damages, penalties,
          forfeitures, reasonable and necessary legal fees and related costs, judgments,
          and other costs and expenses (exclusive of any marketing costs incurred
          by the
          Purchaser for the sale of any Mortgage Loan to a third party and exclusive
          of
          any potential profits on the sale of any Mortgage Loan) resulting from
          a breach
          by the Seller of the representations and warranties contained in this Section
          7.
          It is understood and agreed that the obligations set forth in this Section
          7.03
          to cure or repurchase a defective Mortgage Loan and to indemnify the Purchaser
          as provided herein constitute the sole remedies of the Purchaser respecting
          a
          breach of the foregoing representations and warranties.”

        

        
          	 	
                  3.

                	
                  Section
                    7.03. Repurchase.
                    The last sentence of Paragraph 3 is hereby deleted in its entirety
                    and
                    replaced with the following:

                

        

        

        
          	 	 	
                  “Repurchase
                    Price” shall be an amount equal to (i) the outstanding principal balance
                    of such Mortgage Loan as of the date that such Mortgage Loan
                    is to be
                    repurchased, plus (ii) accrued interest thereon at the current
                    net rate
                    for the related Mortgage Loan from the date on which interest
                    has last
                    been paid and distributed to the Purchaser to the last Business
                    Day on the
                    related month of repurchase, plus (iii) any outstanding escrow,
                    servicing
                    or corporate advances related thereto made by Seller or Seller’s servicer,
                    plus (iv)
                    any other losses, damages, penalties, forfeitures, reasonable
                    and
                    necessary legal fees and related costs, judgments, and other
                    costs and
                    expenses suffered by the Purchaser in connection with such Mortgage
                    Loan.
                    In the event a Mortgage Loan is eligible for repurchase under
                    this
                    Agreement, but the Purchaser and Seller agree not to effectuate
                    such
                    repurchase, Seller agrees that is shall remain obligated to the
                    Purchaser
                    for any amounts specified in clause (iv) of the preceding
                    sentence.

                

        

        

        
          	4.  	
                  THIS
                    AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
                    THE
                    INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT
                    TO PRINCIPLES
                    OF CONFLICTS OF LAWS. THE OBLIGATIONS, RIGHTS AND REMEDIES OF
                    THE PARTIES
                    HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
                    LAWS.

                

        

        

        
          	5.  	
                  Except
                    as such amendments are made herein, the Agreement shall remain
                    in full
                    force and effect.

                

        

        

        
          
             

             

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        IN
          WITNESS WHEREOF, the Purchaser and the Seller have caused their names to
          be
          signed hereto by their respective officers thereunto duly authorized as
          of the
          day and year first above written.

         

        
          
            
              
                
                  
                    	 	EMC
                            MORTGAGE CORPORATION
                            Purchaser

                          	 
	 	 	 	 
	 	By:	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 	
                             

                          	 	 
	 	
                            
                              GMAC
                                MORTGAGE CORPORATION

                              Seller

                            

                          	 
	 	 	 	 
	 	By:	 	 
	 	Name:	
                            Patricia
                              C. Taylor

                          	 
	 	Title: 	Vice President 	 

                  

                

              

            

          

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

        AMENDMENT
          NUMBER THREE

        to
          the

        

        SERVICING
          AGREEMENT

        

        Dated
          as
          of December 20, 2005

        

        between

        

        EMC
          MORTGAGE CORPORATION, 

        as
          Owner

        

        and

        

        GMAC
          MORTGAGE CORPORATION,

        as
          Servicer

        

        This
          AMENDMENT NUMBER THREE (this “Amendment”) is made and entered into this
          20th
          day of
          December, 2005, by and between EMC Mortgage Corporation, a Delaware corporation,
          as owner (the “Owner”) and GMAC Mortgage Corporation, as servicer (the
“Servicer”) in connection with the Servicing Agreement, dated as of May 1, 2001,
          between the above mentioned parties (the “Agreement”). This Amendment is made
          pursuant to Section 11.02 of the Agreement.

        

        RECITALS

         

        WHEREAS,
           the
          parties hereto have entered into the Agreement; 

        

        WHEREAS,
          the Agreement provides that the parties thereto may enter into an amendment
          to
          the Agreement;

        

        WHEREAS,
          the parties hereto desire to amend the Agreement as set forth in this Amendment;
          and

        

        NOW,
          THEREFORE, in consideration of the premises and for other good and valuable
          consideration, the receipt and sufficiency of which is hereby acknowledged,
          the
          parties hereto agree as follows:

        

        1. Capitalized
          terms used herein and not defined herein shall have the meanings assigned
          to
          such terms in the Agreement. 

        

        2. Article
          I
          of the Agreement is hereby amended effective as of the date hereof by adding
          the
          following definitions to Section 1.01: 

        

        Commission
          or SEC:
          The
          Securities and Exchange Commission.

        

        Depositor:
          The
          depositor, as such term is defined in Regulation AB, with respect to any
          Securitization Transaction.

        

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

        

        Master
          Servicer:
          With
          respect to any Securitization Transaction, the “master servicer,” if any,
          identified in the related transaction document.

        

        Pass-Through
          Transfer:
          Any
          transaction involving either (1) a sale or other transfer of some or all
          of the
          Mortgage Loans directly or indirectly to an issuing entity in connection
          with an
          issuance of publicly offered or privately placed, rated or unrated
          mortgage-backed securities or (2) an issuance of publicly offered or privately
          placed, rated or unrated securities, the payments on which are determined
          primarily by reference to one or more portfolios of residential mortgage
          loans
          consisting, in whole or in part, of some or all of the Mortgage
          Loans.

        

        Qualified
          Correspondent:
          Any
          Person from which the Servicer purchased Mortgage Loans, provided that
          the
          following conditions are satisfied: (i) such Mortgage Loans were originated
          pursuant to an agreement between the Servicer and such Person that contemplated
          that such Person would underwrite mortgage loans from time to time, for
          sale to
          the Servicer, in accordance with underwriting guidelines designated by
          the
          Servicer (“Designated Guidelines”) or guidelines that do not vary materially
          from such Designated Guidelines; (ii) such Mortgage Loans were in fact
          underwritten as described in clause (i) above and were acquired by the
          Servicer
          within 180 days after origination; (iii) either (x) the Designated Guidelines
          were, at the time such Mortgage Loans were originated, used by the Servicer
          in
          origination of mortgage loans of the same type as the Mortgage Loans for
          the
          Servicer’s own account or (y) the Designated Guidelines were, at the time such
          Mortgage Loans were underwritten, designated by the Servicer on a consistent
          basis for use by lenders in originating mortgage loans to be purchased
          by the
          Servicer; and (iv) the Servicer employed, at the time such Mortgage Loans
          were
          acquired by the Servicer, pre-purchase or post-purchase quality assurance
          procedures (which may involve, among other things, review of a sample of
          mortgage loans purchased during a particular time period or through particular
          channels) designed to ensure that Persons from which it purchased mortgage
          loans
          properly applied the underwriting criteria designated by the
          Servicer.

        

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

        

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

        

        Securitization
          Transaction:
          Any
          transaction involving either (1) a sale or other transfer of some or all
          of the
          Mortgage Loans directly or indirectly to an issuing entity in connection
          with an
          issuance of publicly offered or privately placed, rated or unrated
          mortgage-backed securities or (2) an issuance of publicly offered or privately
          placed, rated or unrated securities, the payments on which are determined
          primarily by reference to one or more portfolios of residential mortgage
          loans
          consisting, in whole or in part, of some or all of the Mortgage
          Loans.

        

        Servicing
          Criteria:
          As of
          any date of determination, the “servicing criteria” set forth in Item 1122(d) of
          Regulation AB, or any amendments thereto, a summary of the requirements
          of which
          as of the date hereof is attached hereto as Exhibit G for convenience of
          reference only. In the event of a conflict or inconsistency between the
          terms of
          Exhibit G and the text of Item 1122(d) of Regulation AB, the text of Item
          1122(d) of Regulation AB shall control (or those Servicing Criteria otherwise
          mutually agreed to by the Owner, Servicer and any Person that will be
          responsible for signing any Sarbanes Certification with respect to a
          Securitization Transaction in response to evolving interpretations of Regulation
          AB and incorporated into a revised Exhibit G).

        

        Static
          Pool Information:
          Static
          pool information as described in Item 1105(a)(1)-(3) and 1105(c) of Regulation
          AB.

        

        Subcontractor:
          Any
          vendor, subcontractor or other Person that is not responsible for the overall
          servicing (as “servicing” is commonly understood by participants in the
          mortgage-backed securities market) of Mortgage Loans but performs one or
          more
          discrete functions identified in Item 1122(d) of Regulation AB with respect
          to
          Mortgage Loans under the direction or authority of the Servicer or a
          Subservicer. 

        

        Subservicer:
          Any
          Person that services Mortgage Loans on behalf of the Servicer or any Subservicer
          and is responsible for the performance (whether directly or through Subservicers
          or Subcontractors) of a substantial portion of the material servicing functions
          required to be performed by the Servicer under this Agreement or any
          Reconstitution Agreement that are identified in Item 1122(d) of Regulation
          AB.

        

        Third-Party
          Originator:
          Each
          Person, other than a Qualified Correspondent, that originated Mortgage
          Loans
          acquired by the Servicer.

        

        3. Article
          III of the Agreement is hereby amended effective as of the date hereof
          by adding
          the following new clause (m):

        

        (m) As
          of the
          date of each Pass-Through Transfer, and except as has been otherwise disclosed
          to the Owner, any Master Servicer and any Depositor: (1) the Servicer is
          not
          aware and has not received notice that any default or servicing related
          performance trigger has occurred as to any other securitization due to
          any act
          or failure to act of the Servicer; (2) no material noncompliance with applicable
          servicing criteria as to any other securitization involving residential
          mortgage
          loans involving the Servicer as servicer has been disclosed or reported
          by the
          Servicer; (3) the Servicer has not been terminated as servicer in a residential
          mortgage loan securitization, either due to a servicing default or to
          application of a servicing performance test or trigger; (4) no material
          changes
          to the Servicer’s servicing policies and procedures with respect to the
          servicing function it will perform under this Agreement or any Reconstitution
          Agreement has occurred in the preceding three years; (5) there are no aspects
          of
          the Servicer’s financial condition that could have a material adverse impact on
          the performance by the Servicer of its servicing obligations hereunder;
          (6)
          there are no legal proceedings pending, or known to be contemplated by
          governmental authorities, against the Servicer that could be material to
          investors in the securities issued in such Pass-Through Transfer; and (7)
          there
          are no affiliations, relationships or transactions relating to the Servicer
          of a
          type that are described under Item 1119 of Regulation AB.

        

        4. Article
          IV of the Agreement is hereby amended effective as of the date hereof by
          adding
          the following new Section 4.14:

        

        Section
          4.14 Financial
          Statements.

        

        Upon
          request by the Purchaser, the Servicer shall provide its financial statements
          of
          its parent for the previous two fiscal years.

        

        5. The
          Agreement is hereby amended effective as of the date hereof by moving clauses
          (a) through (m) of Article III to Section 3.01.

        

        6. The
          Agreement is hereby amended effective as of the date hereof by adding the
          following new Section 3.02:

        

        Section
          3.02 Updates.

        

        (a) If
          so
          requested by the Owner or any Depositor on any date, the Servicer shall,
          within
          five Business Days,
          and in
          no event later than seven Business Days
          following such request, confirm in writing the accuracy of the representations
          and warranties set forth in clause (m) of this Article III or, if any such
          representation and warranty is not accurate as of the date of such request,
          provide reasonably adequate disclosure of the pertinent facts, in writing,
          to
          the requesting party.

        

        (b) If
          so
          requested by the Owner or any Depositor for the purpose of satisfying its
          reporting obligation under the Exchange Act with respect to any class of
          asset-backed securities, the Servicer shall (or shall cause each Subservicer
          to)
          (i) notify the Owner, any Master Servicer and any Depositor in writing
          of (A)
          any material litigation or governmental proceedings pending against the
          Servicer
          or any Subservicer, (B) any affiliations or relationships that develop
          following
          the closing date of a Pass-Through Transfer between the Servicer or any
          Subservicer and any of the parties specified in clause (7) of paragraph
          (m) of
          Section 3.01 (and any other parties identified in writing by the requesting
          party) with respect to such Pass-Through Transfer, (C)
          any
          Event of Default under the terms of this Agreement or any Reconstitution
          Agreement, (D) any merger, consolidation or sale of substantially all of
          the
          assets of the Servicer, and (E) the Servicer’s entry into an agreement with a
          Subservicer to perform or assist in the performance of any of the Servicer’s
          obligations under this Agreement or any Reconstitution Agreement and
          (ii)
          provide
          to the Owner and any Depositor a description of such proceedings, affiliations
          or relationships.

        

        All
          notification pursuant to this Section 3.02(b), other than those pursuant
          to
          Section 3.02(b)(i)(A), should be sent to:

        

        EMC
          Mortgage Corporation

        2780
          Lake
          Vista Drive

        Lewisville,
          TX 75067-3884

        Attention:
          Conduit Seller Approval Dept.

        Facsimile:
          (214) 626-3751

        Email:
          sellerapproval@bear.com

        

        With
          a
          copy to:

        

        Bear,
          Stearns & Co. Inc.

        383
          Madison Avenue, 3rd Floor

        New,
          York, NY 10179

        Attention:
          Global Credit Administration

        Facsimile:
          (212) 272-6564

        

        Notifications
          pursuant to Section 3.01(b)(i)(A) should be sent to: 

        

        EMC
          Mortgage Corporation

        Two
          Mac
          Arthur Ridge

        909
          Hidden Ridge Drive, Suite 200

        Irving,
          TX 75038

        Attention:
          Associate General Counsel for Loan Administration

        Facsimile:
          (972) 831-2555

        

        With
          copies to:

        

        Bear,
          Stearns & Co. Inc.

        383
          Madison Avenue, 3rd Floor

        New,
          York, NY 10179

        Attention:
          Global Credit Administration

        Facsimile:
          (212) 272-6564

        

        EMC
          Mortgage Corporation

        2780
          Lake
          Vista Drive

        Lewisville,
          TX 75067-3884

        Attention:
          Conduit Seller Approval Dept.

        Facsimile:
          (214) 626-3751

        Email:
          sellerapproval@bear.com

        

        (c) As
          a
          condition to the succession to the Servicer or any Subservicer as servicer
          or
          subservicer under this Agreement or any Reconstitution Agreement by any
          Person
          (i) into which the Servicer or such Subservicer may be merged or consolidated,
          or (ii) which may be appointed as a successor to the Servicer or any
          Subservicer, the Servicer shall provide to the Owner, any Master Servicer
          and
          any Depositor, at least fifteen (15) calendar days prior to the effective
          date
          of such succession or appointment, (x) written notice to the Owner, any
          Master
          Servicer and any Depositor of such succession or appointment and (y) in
          writing
          and in form and substance reasonably satisfactory to the Owner, any Master
          Servicer and such Depositor, all information reasonably requested by the
          Owner,
          any Master Servicer or any Depositor in order to comply with its reporting
          obligation under Item 6.02 of Form 8-K with respect to any class of asset-backed
          securities.

        

        7. Article
          IV of the Agreement is hereby amended effective as of the date hereof by
          adding
          the following after the first sentence of Section 4.01:

        

        In
          addition, the Servicer shall furnish information regarding the borrower
          credit
          files related to such Mortgage Loan to credit reporting agencies in compliance
          with the provisions of the Fair Credit Reporting Act and the applicable
          implementing regulations.

        

        8. Article
          IV of the Agreement is hereby amended effective as of the date hereof by
          revising the first paragraph of Section 4.03 by adding the following after
          the
          first sentence:

        

        In
          determining the delinquency status of any Mortgage Loan, the Servicer will
          use
          delinquency recognition policies as utilized by the Servicer in connection
          with
          the servicing of mortgage loans on its own securitizations.

        

        9. Article
          V
          of the Agreement is hereby amended effective as of the date hereof by deleting
          Section 5.02 in its entirety and replacing it with the following:

        

        Section
          5.02 Statements
          to the Owner.

        

        The
          Servicer shall furnish to the Owner an individual Mortgage Loan accounting
          report (a “Report”), as of the last Business Day of each month, in the
          Servicer's assigned loan number order to document Mortgage Loan payment
          activity
          on an individual Mortgage Loan basis. With respect to each month, such
          Report
          shall be received by the Owner (i) no later than the fifth Business Day
          of the
          following month of the related Remittance Date on a disk or tape or other
          computer-readable format, in such format as may be mutually agreed upon
          by both
          the Owner and the Servicer, and (ii) no later than the tenth Business Day
          of the
          following month of the related Remittance Date in hard copy, which Report
          shall
          contain the following:

        

        (i) with
          respect to each Mortgage Loan and each Monthly Payment, the amount of such
          remittance allocable to principal (including a separate breakdown of any
          Principal Prepayment, including the date of such prepayment, and any prepayment
          penalties or premiums, along with a detailed report of interest on principal
          prepayment amounts remitted in accordance with Section 4.04);

        

        (ii) with
          respect to each Mortgage Loan and each Monthly Payment, the amount of such
          remittance allocable to interest;

        

        (iii) with
          respect to each Mortgage Loan, the amount of servicing compensation received
          by
          the Servicer during the prior distribution period;

        

        (iv) the
          Stated Principal Balance of each Mortgage Loan and the aggregate Stated
          Principal Balance of all Mortgage Loans as of the first day of the distribution
          period and the last day of the distribution period;

        

        (v) with
          respect to each Mortgage Loan, the current Mortgage Interest Rate;

        

        (vi) with
          respect to each Mortgage Loan, the aggregate amount of any Insurance Proceeds,
          Condemnation Proceeds, Liquidation Proceeds and REO Disposition Proceeds
          received during the prior distribution period;

        

        (vii) with
          respect to each Mortgage Loan, the amount of any Prepayment Interest Shortfalls
          paid by the Servicer in accordance with Section 4.04(viii) during the prior
          distribution period; 

        

        (viii) with
          respect to each Mortgage Loan, the Stated Principal Balance of each Mortgage
          Loan (a) delinquent as grouped in the following intervals through final
          liquidation of such Mortgage Loan: 30 to 59 days, 60 to 89 days, 90 days
          or
          more; (b) as to which foreclosure has commenced; and (c) as to which REO
          Property has been acquired;

        

        (ix) with
          respect to each Mortgage Loan, and in the aggregate for all Mortgage Loans,
          the
          amount of any Monthly Advances made by the Servicer during the prior
          distribution period; 

        

        (x) with
          respect to each Mortgage Loan, the amount of any Servicing Advances made
          by the
          Servicer with respect to such Mortgage Loan, and the aggregate amount of
          Servicing Advances for all Mortgage Loans during the prior distribution
          period;

        

        (xi) with
          respect to each Mortgage Loan, a description of any Nonrecoverable Advances
          made
          by the Servicer with respect to such Mortgage Loan including the amount,
          terms
          and general purpose of such Nonrecoverable Advances, and the aggregate
          amount of
          Nonrecoverable Advances for all Mortgage Loans during the prior distribution
          period;

        

        (xii) with
          respect to any Mortgage Loan, a description of any material modifications,
          extensions or waivers to the terms, fees, penalties or payments of such
          Mortgage
          Loan during the prior distribution period or that have cumulatively become
          material over time;

        

        (xiii) with
          respect to each Mortgage Loan, the Stated Principal Balance of any substitute
          Mortgage Loan provided by the Servicer and the Stated Principal Balance
          of any
          Mortgage Loan that has been replaced by a substitute Mortgage Loan in accordance
          with Section 3.03 herein;

        

        (xiv) with
          respect to each Mortgage Loan, the Stated Principal Balance of any Mortgage
          Loan
          that has been repurchased by the Servicer in accordance with Section 3.03
          herein.

        

        For
          any
          Mortgage Loan in a Pass-Through Transfer, the Servicer shall also furnish
          the
          following items in the Report to the Master Servicer, provided that if
          these
          items are included in the report to the Owner they need not be incorporated
          in
          the Report:

        

        (i) the
          beginning and ending balances of the Custodial Account and Escrow
          Account;

        

        (ii) with
          respect to each Mortgage Loan, a description of any Monthly Advances, Servicing
          Advances and Nonrecoverable Advances reimbursed to the Servicer with respect
          to
          such Mortgage Loan during the prior distribution period pursuant to Section
          4.05, and the source of funds for such reimbursement, and the aggregate
          amount
          of any Monthly Advances, Servicing Advances and Nonrecoverable Advances
          reimbursed to the Servicer for all Mortgage Loans during the prior distribution
          period pursuant to Section 4.05; and

        

        (iii) a
          description of any material breach of a representation or warranty set
          forth in
          Section 3.01 or Section 3.02 herein or of any other breach of a covenant
          or
          condition contained herein and the status of any resolution of such
          breach.

        

        In
          addition, the Servicer shall provide to the Owner such other information
          known
          or available to the Servicer that is necessary in order to provide the
          distribution and pool performance information as required under Item 1121
          of
          Regulation AB, as amended from time to time, as determined by the Owner
          in its
          reasonable discretion. Notwithstanding the foregoing, the Servicer shall
          be
          under no obligation to provide information that the Owner deems required
          under
          Regulation AB if (i) the Servicer does not reasonably believe that such
          information is required under Regulation AB and (ii) the Servicer is not
          providing such information for (A) its own securitizations, or (B) any
          third
          party securitizations with mortgage loans serviced by the Servicer[, unless
          the
          Owner pays all reasonable actual costs incurred by the Servicer in connection
          with the preparation and delivery of such information and the Servicer
          is given
          reasonable time to establish the necessary systems and procedures to produce
          such information; provided, however, that the costs incurred by the Servicer
          in
          connection with establishing the necessary systems and procedures will
          be split
          pro rata with any other purchaser that makes a request for similar
          information.

        

        The
          Servicer shall also provide a monthly report, in the form of Exhibit E
          hereto,
          or such other form as is mutually acceptable to the Servicer, the Owner
          and any
          Master Servicer, Exhibit H or such other agreeable format with respect
          to
          defaulted mortgage loans and Exhibit I, with respect to realized losses
          and
          gains, with each such report. 

        

        The
          Servicer shall prepare and file any and all information statements or other
          filings required to be delivered to any governmental taxing authority or
          to
          Owner pursuant to any applicable law with respect to the Mortgage Loans
          and the
          transactions contemplated hereby. In addition, the Servicer shall provide
          Owner
          with such information concerning the Mortgage Loans as is necessary for
          Owner to
          prepare its federal income tax return as Owner may reasonably request from
          time
          to time.

        

        In
          addition, not more than sixty (60) days after the end of each calendar
          year, the
          Servicer shall furnish to each Person who was an Owner at any time during
          such
          calendar year an annual statement in accordance with the requirements of
          applicable federal income tax law as to the aggregate of remittances for
          the
          applicable portion of such year.

        

        10. Article
          VI of the Agreement is hereby amended effective as of the date hereof by
          deleting Section 6.04 in its entirety and replacing it with the
          following:

        

        Section
          6.04 Annual
          Statement as to Compliance; Annual Certification.

        

        (a) The
          Servicer will deliver to the Owner and any Master Servicer, using its best
          efforts to deliver on March 1, but in no event later than March 15, of
          each
          calendar year beginning in 2007, an Officers’ Certificate acceptable to the
          Owner (an “Annual Statement of Compliance”) stating, as to each signatory
          thereof, that (i) a review of the activities of the Servicer during the
          preceding calendar year and of performance under this Agreement or other
          applicable servicing agreement has been made under such officers’ supervision
          and (ii) to the best of such officers’ knowledge, based on such review, the
          Servicer has fulfilled all of its obligations under this Agreement or other
          applicable servicing agreement in all material respects throughout such
          year,
          or, if there has been a failure to fulfill any such obligation in any material
          respect, specifying each such failure known to such officer and the nature
          and
          status of cure provisions thereof. Such Annual Statement of Compliance
          shall
          contain no restrictions or limitations on its use.

        

        (b) With
          respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
          using its best efforts to deliver on March 1, but in no event later than
          March
          15, of each calendar year beginning in 2007, an officer of the Servicer
          shall
          execute and deliver an Officers’ Certificate (an “Annual Certification”) to the
          Owner, any Master Servicer and any related Depositor for the benefit of
          each
          such entity and such entity’s affiliates and the officers, directors and agents
          of any such entity and such entity’s affiliates, in the form attached hereto as
          Exhibit F.

        

        In
          the
          event that the Servicer fails to timely comply with this Section 6.04 after
          the
          cure period set forth herein, commencing on March 15th of the related year,
          the
          Owner shall use its commercially reasonable efforts to obtain written or
          verbal
          statements or assurances from the Commission, by March 30th of the related
          year
          (or such extension of time granted by the Commission so that it can review
          the
          facts surrounding any requests made by the Owner) that such failure to
          provide
          the required Assessment of Compliance and Attestation Report on a timely
          basis,
          and a one time additional failure by the Servicer to comply with this Section
          6.04, will not result in any adverse effect on the Owner or its affiliates
          with
          respect to any Shelf Registration on Form S-3 of the Owner or any of its
          affiliates. Any costs or expenses incurred by the Owner in obtaining such
          statement or assurances from the Commission shall be reimbursed to the
          Owner by
          the Servicer. In the event that the Owner is unable to receive any such
          assurances from the Commission after the use of such commercially reasonable
          efforts by March 30th (or any extension period granted by the Commission)
          of the
          related year, such failure by the Servicer to comply with this Section
          6.04
          shall be deemed an Event of Default, automatically at such time, without
          notice
          and without any cure period, and Owner may, in addition to whatever rights
          the
          Owner may have under Section 8.01, subject to the limitation expressed
          therein,
          and at law or equity or to damages, including injunctive relief and specific
          performance, terminate all the rights and obligations of the Servicer under
          this
          Agreement and in and to the Mortgage Loans and the proceeds thereof without
          compensating the Servicer for the same, as provided in Section 9.01 . Such
          termination shall be considered with cause pursuant to Section 10.01 of
          this
          Agreement. This paragraph shall supersede any other provision in this Agreement
          or any other agreement to the contrary.

        

        Failure
          to provide the Annual Statement of Compliance or Annual Certification will
          be
          treated as a failure of the Servicer to perform its duties under the Agreement
          and will be subject to the indemnification provisions of Section 8.01,
          subject
          to the limitation expressed therein, of the Agreement.
          This
          indemnification is understood by the parties hereto to cover any gross
          negligence, bad faith or willful misconduct of the Servicer in connection
          with
          its performance hereunder. For any indemnification from the Servicer to
          any
          Master Servicer, the Servicer in no event will be liable for punitive or
          consequential damages, regardless of the form of action, whether in contract,
          tort or otherwise.

        

        If
          the
          indemnification provided for therein is unavailable or insufficient to
          hold
          harmless the Owner, each affiliate of the Owner, and each of the following
          parties participating in a Pass-Through Transfer: each sponsor and issuing
          entity; each Person (including, but not limited to, any Master Servicer,
          if
          applicable) responsible for the preparation, execution or filing of any
          report
          required to be filed with the Commission with respect to such Pass-Through
          Transfer, or for execution of a certification pursuant to Rule 13a-14(d)
          or Rule
          15d-14(d) under the Exchange Act with respect to such Pass-Through Transfer;
          each broker dealer acting as underwriter, placement agent or initial purchaser,
          each Person who controls any of such parties or the Depositor (within the
          meaning of Section 15 of the Securities Act and Section 20 of the Exchange
          Act);
          and the respective present and former directors, officers, employees, agents
          and
          affiliates of each of the foregoing and of the Depositor (each, an “Indemnified
          Party”), then the Servicer agrees that it shall contribute to the amount paid
          or
          payable by such Indemnified Party as a result of any claims, losses, damages
          or
          liabilities incurred by such Indemnified Party in such proportion as is
          appropriate to reflect the relative fault of such Indemnified Party on
          the one
          hand and the Servicer on the other. 

        

        In
          the
          case of any failure of performance described above, the Servicer shall
          promptly
          reimburse the Owner, any Depositor, as applicable, and each Person responsible
          for the preparation, execution or filing of any report required to be filed
          with
          the Commission with respect to such Securitization Transaction, or for
          execution
          of a certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the
          Exchange Act with respect to such Securitization Transaction, for all costs
          reasonably incurred by each such party in order to obtain the information,
          report, certification, accountants’ letter or other material not delivered as
          required by the Servicer, any Subservicer or any Subcontractor.

        

        This
          indemnification shall survive the termination of this Agreement or the
          termination of any party to this Agreement.

        

        11. Article
          VI of the Agreement is hereby amended effective as of the date hereof by
          deleting Section 6.05 in its entirety and replacing it with the
          following:

        

        Section
          6.05 [Reserved].
          

        

        12. Article
          VI of the Agreement is hereby amended effective as of the date hereof by
          adding
          the following new Section 6.09:

        

        Section
          6.09 Assessment
          of Compliance with Servicing Criteria.

        

        On
          and
          after January 1, 2006, the Servicer shall service and administer, and shall
          cause each subservicer to servicer or administer, the Mortgage Loans in
          accordance with all applicable requirements of the Servicing
          Criteria.

        

        With
          respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
          the Servicer shall use its best efforts to deliver to the Owner or its
          designee,
          any Master Servicer and any Depositor on March 1, but in no event later
          than
          March 15 of each calendar year beginning in 2007 a report (an “Assessment of
          Compliance”) reasonably satisfactory to the Owner, any Master Servicer and any
          Depositor regarding the Servicer’s assessment of compliance with the Servicing
          Criteria during the preceding calendar year as required by Rules 13a-18
          and
          15d-18 of the Exchange Act and Item 1122 of Regulation AB or as otherwise
          required by the Master Servicer. Such report shall be addressed to the
          Owner and
          such Depositor and signed by an authorized officer of the Servicer, and
          shall
          address each of the Servicing Criteria specified on a certification
          substantially in the form of Exhibit G hereto delivered to the Owner
          concurrently with the execution of this Agreement.

        

        With
          respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
          the Servicer shall use its best efforts to deliver to the Owner or its
          designee,
          any Master Servicer and any Depositor on March 1, but in no event later
          than
          March 15 of each calendar year beginning in 2007 a report (an “Attestation
          Report”) by a registered public accounting firm that attests to, and reports on,
          the Assessment of Compliance made by the Servicer, as required by Rules
          13a-18
          and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB or as
          otherwise
          required by the Master Servicer, which Attestation Report must be made
          in
          accordance with standards for attestation reports issued or adopted by
          the
          Public Servicer Accounting Oversight Board.

        

        The
          Servicer shall cause each Subservicer, and each Subcontractor determined
          by the
          Servicer pursuant to Section 11.19 to be “participating in the servicing
          function” within the meaning of Item 1122 of Regulation AB, to deliver to the
          Owner, any Master Servicer and any Depositor an assessment of compliance
          and
          accountants’ attestation as and when provided in Sections 6.09. Each assessment
          of compliance provided by a Subservicer shall address each of the Servicing
          Criteria specified on a certification substantially in the form of Exhibit
          G
          hereto delivered to the Owner concurrently with the execution of this Agreement
          or, in the case of a Subservicer subsequently appointed as such, on or
          prior to
          the date of such appointment.

        

        In
          the
          event that the Servicer fails to timely comply with this Section 6.09 after
          the
          cure period set forth herein, commencing on March 15th of the related year,
          the
          Owner shall use its commercially reasonable efforts to obtain written or
          verbal
          statements or assurances from the Commission, by March 30th of the related
          year
          (or such extension of time granted by the Commission so that it can review
          the
          facts surrounding any requests made by the Owner) that such failure to
          provide
          the required Assessment of Compliance and Attestation Report on a timely
          basis,
          and a one time additional failure by the Servicer to comply with this Section
          6.09, will not result in any adverse effect on the Owner or its affiliates
          with
          respect to any Shelf Registration on Form S-3 of the Owner or any of its
          affiliates. Any costs or expenses incurred by the Owner in obtaining such
          statement or assurances from the Commission shall be reimbursed to the
          Owner by
          the Servicer. In the event that the Owner is unable to receive any such
          assurances from the Commission after the use of such commercially reasonable
          efforts by March 30th (or any extension period granted by the Commission)
          of the
          related year, such failure by the Servicer to comply with this Section
          6.09
          shall be deemed an Event of Default, automatically at such time, without
          notice
          and without any cure period, and Owner may, in addition to whatever rights
          the
          Owner may have under Section 8.01, subject to the limitation expressed
          therein,
          and at law or equity or to damages, including injunctive relief and specific
          performance, terminate all the rights and obligations of the Servicer under
          this
          Agreement and in and to the Mortgage Loans and the proceeds thereof without
          compensating the Servicer for the same, as provided in Section 9.01 . Such
          termination shall be considered with cause pursuant to Section 10.01 of
          this
          Agreement. This paragraph shall supersede any other provision in this Agreement
          or any other agreement to the contrary.

        

        Failure
          to provide the Assessment of Compliance or Attestation Report will be treated
          as
          a failure of the Servicer to perform its duties under the Agreement and
          will be
          subject to the indemnification provisions of Section 8.01, subject to the
          limitation expressed therein, of the Agreement. This indemnification is
          understood by the parties hereto to cover any gross negligence bad faith
          or
          willful misconduct of the Servicer in connection with its performance hereunder.
          For any indemnification from the Servicer to any Master Servicer, the Servicer
          in no event will be liable for punitive or consequential damages, regardless
          of
          the form of action, whether in contract, tort or otherwise.

        

        If
          the
          indemnification provided for therein is unavailable or insufficient to
          hold
          harmless the Owner, each affiliate of the Owner, and each of the following
          parties participating in a Pass-Through Transfer: each sponsor and issuing
          entity; each Person (including, but not limited to, any Master Servicer,
          if
          applicable) responsible for the preparation, execution or filing of any
          report
          required to be filed with the Commission with respect to such Pass-Through
          Transfer, or for execution of a certification pursuant to Rule 13a-14(d)
          or Rule
          15d-14(d) under the Exchange Act with respect to such Pass-Through Transfer;
          each broker dealer acting as underwriter, placement agent or initial purchaser,
          each Person who controls any of such parties or the Depositor (within the
          meaning of Section 15 of the Securities Act and Section 20 of the Exchange
          Act);
          and the respective present and former directors, officers, employees, agents
          and
          affiliates of each of the foregoing and of the Depositor (each, an “Indemnified
          Party”), then the Servicer agrees that it shall contribute to the amount paid
          or
          payable by such Indemnified Party as a result of any claims, losses, damages
          or
          liabilities incurred by such Indemnified Party in such proportion as is
          appropriate to reflect the relative fault of such Indemnified Party on
          the one
          hand and the Servicer on the other. 

        

        In
          the
          case of any failure of performance described above, the Servicer shall
          promptly
          reimburse the Owner, any Depositor, as applicable, and each Person responsible
          for the preparation, execution or filing of any report required to be filed
          with
          the Commission with respect to such Securitization Transaction, or for
          execution
          of a certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the
          Exchange Act with respect to such Securitization Transaction, for all costs
          reasonably incurred by each such party in order to obtain the information,
          report, certification, accountants’ letter or other material not delivered as
          required by the Servicer, any Subservicer or any Subcontractor.

        

        This
          indemnification shall survive the termination of this Agreement or the
          termination of any party to this Agreement.

        

        13. Article
          VI of the Agreement is hereby amended effective as of the date hereof by
          adding
          the following new Section 6.10:

        

        Section
          6.10 Intent
          of the Parties; Reasonableness.

        

        The
          Owner
          and the Servicer acknowledge and agree that a purpose of Section 3.01(m),
          4.14,
          Sections 5.02, 6.04, 6.09 and 10.02 of this Agreement is to facilitate
          compliance by the Owner and any Depositor with the provisions of Regulation
          AB
          and related rules and regulations of the Commission. None of the Owner,
          any
          Master Servicer or any Depositor shall exercise its right to request delivery
          of
          information or other performance under these provisions other than in good
          faith, or for purposes other than compliance with the Securities Act, the
          Exchange Act and the rules and regulations of the Commission thereunder.
          The
          Servicer acknowledges that interpretations of the requirements of Regulation
          AB
          may change over time, whether due to interpretive guidance provided by
          the
          Commission or its staff, consensus among participants in the asset-backed
          securities markets, advice of counsel, or otherwise, and agrees to comply
          with
          requests made by the Owner or any Depositor in good faith for delivery
          of
          information under these provisions on the basis of evolving interpretations
          of
          Regulation AB. In connection with any Pass-Through Transfer, the Servicer
          shall
          cooperate fully with the Owner to deliver to the Owner (including any of
          its
          assignees or designees) and any Depositor, any and all statements, reports,
          certifications, records and any other information necessary in the good
          faith
          determination of the Owner or any Depositor to permit the Owner or such
          Depositor to comply with the provisions of Regulation AB, together with
          such
          disclosures relating to the Servicer, any Subservicer, any Third-Party
          Originator and the Mortgage Loans, or the servicing of the Mortgage Loans,
          reasonably believed by the Owner or any Depositor to be necessary in order
          to
          effect such compliance.

        

        Notwithstanding
          anything to the contrary herein, the Servicer shall be under no obligation
          to
          provide information that the Owner deems required under Regulation AB if
          (i) the
          Servicer does not reasonably believe that such information is required
          under
          Regulation AB and (ii) the Servicer is not providing such information for
          its
          own securitizations unless the Owner pays all reasonable costs incurred
          by the
          Servicer in connection with the preparation and delivery of such information
          and
          the Servicer is given reasonable time to establish the necessary systems
          and
          procedures to produce such information; provided, however, that the costs
          incurred by the Servicer in connection with establishing the necessary
          systems
          and procedures will be split pro rata with any other purchaser that makes
          a
          request for similar information.

        

        14. Article
          IX of the Agreement is hereby amended effective as of the date hereof by
          deleting the first sentence of the last paragraph of Section 9.01 and replacing
          it with the following (new text underlined):

        

        then,
          and
          in each and every such case, so long as an Event of Default shall not have
          been
          remedied, the Owner, by notice in writing to the Servicer (or
          as
          otherwise stated herein, in which case, automatically and without
          notice)
          may, in
          addition to whatever rights the Owner may have under Section 8.01, subject
          to
          the limitation expressed therein, and at law or equity to damages, including
          injunctive relief and specific performance, terminate all the rights and
          obligations of the Servicer (and
          if
          the Servicer is servicing any of the Mortgage Loans in a Securitization
          Transaction, appoint a successor servicer reasonably acceptable to any
          Master
          Servicer for such Securitization Transaction)
          under
          this Agreement and in and to the Mortgage Loans and the proceeds thereof
          without
          compensating the Servicer for the same. On or after the receipt by the
          Servicer
          of such written notice, all authority and power of the Servicer under this
          Agreement, whether with respect to the Mortgage Loans or otherwise, shall
          pass
          to and be vested in the successor appointed pursuant to Section 11.01.
          Upon
          written request from the Owner, the Servicer shall prepare, execute and
          deliver,
          any and all documents and other instruments, place in such successor's
          possession all Servicing Files, and do or accomplish all other acts or
          things
          necessary or appropriate to effect the purposes of such notice of termination,
          whether to complete the transfer and endorsement or assignment of the Mortgage
          Loans and related documents, or otherwise, at the Servicer's sole expense.
          The
          Servicer agrees to cooperate with the Owner and such successor in effecting
          the
          termination of the Servicer's responsibilities and rights hereunder, including,
          without limitation, the transfer to such successor for administration by
          it of
          all cash amounts which shall at the time be credited by the Servicer to
          the
          Custodial Account or Escrow Account or thereafter received with respect
          to the
          Mortgage Loans or any REO Property.

        

        15. Article
          IX of the Agreement is hereby amended effective as of the date hereof by
          adding
          the following at the end of the last paragraph of Section 9.01:

        

        The
          Servicer shall promptly reimburse the Owner (or any designee of the Owner,
          such
          as a Master Servicer) and any Depositor, as applicable, for all reasonable
          expenses incurred by the Owner (or such designee) or such Depositor, as
          such are
          incurred, in connection with the termination of the Servicer as servicer
          and the
          transfer of servicing of the Mortgage Loans to a successor servicer. The
          provisions of this paragraph shall not limit whatever rights the Owner
          or any
          Depositor may have under other provisions of this Agreement and/or any
          applicable Reconstitution Agreement or otherwise, whether in equity or
          at law,
          such as an action for damages, specific performance or injunctive
          relief.

        

        16. Article
          X
          of the Agreement is hereby amended effective as of the date hereof by restating
          Section 10.02 in its entirety as follows:

        

        Section
          10.02. Cooperation
          of Servicer with a Reconstitution.

        

        The
          Servicer and the Owner agree that with respect to some or all of the Mortgage
          Loans, on or after the related Closing Date, on one or more dates (each
          a
“Reconstitution Date”) at the Owner’s sole option, the Owner may effect a sale
          (each, a “Reconstitution”) of some or all of the Mortgage Loans then subject to
          this Agreement, without recourse, to:

        

        (1) one
          or
          more third party purchasers in one or more in whole loan transfers (each,
          a
“Whole Loan Transfer”); or

        

        (2) one
          or
          more trusts or other entities to be formed as part of one or more Pass-Through
          Transfers.

        

        With
          respect to each Whole Loan Transfer or Pass-Through Transfer, as the case
          may
          be, the
          Servicer shall (i) following request by the Owner or any Depositor, use
          best
          efforts to provide within five, and in no event later than seven Business
          Days
          the Owner and such Depositor (or, as applicable, cause each Subservicer
          to
          provide), in writing and in form and substance reasonably satisfactory
          to the
          Owner and such Depositor, the information and materials specified in paragraphs
          (a), (b), (c) and (d) of this Section, and (ii) as promptly as practicable
          following notice to or discovery by the Servicer, provide to the Owner
          and any
          Depositor (in writing and in form and substance reasonably satisfactory
          to the
          Owner and such Depositor) the information specified in paragraph (d) of
          this
          Section.

        

        (a) If
          so
          requested by the Owner or any Depositor, the Servicer shall provide such
          information regarding the Servicer, as servicer of the Mortgage Loans,
          and each
          Subservicer (each of the Servicer and each Subservicer, for purposes of
          this
          clause (a), a “Servicer”), as is requested for the purpose of compliance with
          Item 1108 of Regulation AB. Such information shall include, at a
          minimum:

        

        (1) the
          Servicer’s form of organization;

        

        (2) a
          description of how long the Servicer has been servicing residential mortgage
          loans; a general discussion of the Servicer’s experience in servicing assets of
          any type as well as a more detailed discussion of the Servicer’s experience in,
          and procedures for, the servicing function it will perform under this Agreement
          and any Reconstitution Agreements; information regarding the size, composition
          and growth of the Servicer’s portfolio of residential mortgage loans of a type
          similar to the Mortgage Loans and information on factors related to the
          Servicer
          that may be material, in the good faith judgment of the Owner or any Depositor,
          to any analysis of the servicing of the Mortgage Loans or the related
          asset-backed securities, as applicable, including, without
          limitation:

        

        (i) whether
          any prior securitizations of mortgage loans of a type similar to the Mortgage
          Loans involving the Servicer have defaulted or experienced an early amortization
          or other performance triggering event because of servicing during the three-year
          period immediately preceding the related Securitization
          Transaction;

        

        (ii) the
          extent of outsourcing the Servicer utilizes;

        

        (iii) whether
          there has been previous disclosure of material noncompliance with the applicable
          servicing criteria with respect to other securitizations of residential
          mortgage
          loans involving the Servicer as a servicer during the three-year period
          immediately preceding the related Securitization Transaction;

        

        (iv) whether
          the Servicer has been terminated as servicer in a residential mortgage
          loan
          securitization, either due to a servicing default or to application of
          a
          servicing performance test or trigger; and

        

        (v) such
          other information as the Owner or any Depositor may reasonably request
          for the
          purpose of compliance with Item 1108(b)(2) of Regulation AB;

        

        (3) a
          description of any material changes during the three-year period immediately
          preceding the related Securitization Transaction to the Servicer’s policies or
          procedures with respect to the servicing function it will perform under
          this
          Agreement and any Reconstitution Agreements for mortgage loans of a type
          similar
          to the Mortgage Loans;

        

        (4) information
          regarding the Servicer’s financial condition, to the extent that there is a
          material risk that an adverse financial event or circumstance involving
          the
          Servicer could have a material adverse effect on the performance by the
          Servicer
          of its servicing obligations under this Agreement or any Reconstitution
          Agreement;

        

        (5) information
          regarding advances made by the Servicer on the Mortgage Loans and the Servicer’s
          overall servicing portfolio of residential mortgage loans for the three-year
          period immediately preceding the related Securitization Transaction, which
          may
          be limited to a statement by an authorized officer of the Servicer to the
          effect
          that the Servicer has made all advances required to be made on residential
          mortgage loans serviced by it during such period, or, if such statement
          would
          not be accurate, information regarding the percentage and type of advances
          not
          made as required, and the reasons for such failure to advance;

        

        (6) a
          description of the Servicer’s processes and procedures designed to address any
          special or unique factors involved in servicing loans of a similar type
          as the
          Mortgage Loans;

        

        (7) a
          description of the Servicer’s processes for handling delinquencies, losses,
          bankruptcies and recoveries, such as through liquidation of mortgaged
          properties, sale of defaulted mortgage loans or workouts; and

        

        (8) information
          as to how the Servicer defines or determines delinquencies and charge-offs,
          including the effect of any grace period, re-aging, restructuring, partial
          payments considered current or other practices with respect to delinquency
          and
          loss experience.

        

        (b) If
          so
          requested by the Owner or any Depositor for the purpose of satisfying its
          reporting obligation under the Exchange Act with respect to any class of
          asset-backed securities, the Servicer shall (or shall cause each Subservicer
          to)
          (i) notify the Servicer, any Master Servicer and any Depositor in writing
          of (A)
          any material litigation or governmental proceedings involving the Company
          or any
          Subservicer, (B) any affiliations or relationships that develop following
          the
          closing date of a Securitization Transaction between the Owner or any
          Subservicer and any of the parties specified in clause (D) of paragraph
          (a) of
          this Section (and any other parties identified in writing by the requesting
          party) with respect to such Securitization Transaction, (C) any Event of
          Default
          under the terms of this Agreement or any Reconstitution Agreement, (D)
          any
          merger, consolidation or sale of substantially all of the assets of the
          Owner,
          and (E) the Owner’s entry into an agreement with a Subservicer to perform or
          assist in the performance of any of the Owner’s obligations under this Agreement
          or any Reconstitution Agreement and (ii) provide to the Servicer and any
          Depositor a description of such proceedings, affiliations or
          relationships.

        

        As
          a
          condition to the succession to the Owner or any Subservicer as servicer
          or
          subservicer under this Agreement or any Reconstitution Agreement by any
          Person
          (i) into which the Owner or such Subservicer may be merged or consolidated,
          or
          (ii) which may be appointed as a successor to the Owner or any Subservicer,
          the
          Owner shall provide to the Servicer, any Master Servicer, and any Depositor,
          at
          least 15 calendar days prior to the effective date of such succession or
          appointment, (x) written notice to the Servicer and any Depositor of such
          succession or appointment and (y) in writing and in form and substance
          reasonably satisfactory to the Servicer and such Depositor, all information
          reasonably requested by the Servicer or any Depositor in order to comply
          with
          its reporting obligation under Item 6.02 of Form 8-K with respect to any
          class
          of asset-backed securities; 

        

        In
          addition to such information as the Owner, as servicer, is obligated to
          provide
          pursuant to other provisions of this Agreement, not later than ten days
          prior to
          the deadline for the filing of any distribution report on Form 10-D in
          respect
          of any Securitization Transaction that includes any of the Mortgage Loans
          serviced by the Owner or any Subservicer, the Owner or such Subservicer,
          as
          applicable, shall, to the extent the Owner or such Subservicer has knowledge,
          provide to the party responsible for filing such report (including, if
          applicable, the Master Servicer) notice of the occurrence of any of the
          following events along with all information, data, and materials related
          thereto
          as may be required to be included in the related distribution report on
          Form
          10-D (as specified in the provisions of Regulation AB referenced
          below):

        

        (A) any
          material modifications, extensions or waivers of pool asset terms, fees,
          penalties or payments during the distribution period or that have cumulatively
          become material over time (Item 1121(a)(11) of Regulation AB);

        

        (B) material
          breaches of pool asset representations or warranties or transaction covenants
          (Item 1121(a)(12) of Regulation AB); and

        

        (C) information
          regarding new asset-backed securities issuances backed by the same pool
          assets,
          any pool asset changes (such as, additions, substitutions or repurchases),
          and
          any material changes in origination, underwriting or other criteria for
          acquisition or selection of pool assets (Item 1121(a)(14) of Regulation
          AB);
          and

        

        The
          Owner
          shall provide to the Servicer, any Master Servicer and any Depositor, evidence
          of the authorization of the person signing any certification or statement,
          copies or other evidence of Fidelity Bond Insurance and Errors and Omission
          Insurance policy, financial information and reports, and such other information
          related to the Owner or any Subservicer or the Owner or such Subservicer’s
          performance hereunder.

        

        Notwithstanding
          the foregoing, the Servicer shall be under no obligation to provide information
          that the Owner deems required under Regulation AB if (i) the Servicer does
          not
          reasonably believe that such information is required under Regulation AB
          and
          (ii) the Servicer is not providing such information for (A) its own
          securitizations, or (B) any third party securitizations with mortgage loans
          serviced by the Servicer[, unless the Owner pays all reasonable actual
          costs
          incurred by the Servicer in connection with the preparation and delivery
          of such
          information and the Servicer is given reasonable time to establish the
          necessary
          systems and procedures to produce such information; provided, however,
          that the
          costs incurred by the Servicer in connection with establishing the necessary
          systems and procedures will be split pro rata with any other purchaser
          that
          makes a request for similar information..

        

        All
          Mortgage Loans not sold or transferred pursuant to a Reconstitution shall
          remain
          subject to, and serviced in accordance with the terms of, this Agreement
          and the
          related Term Sheet, and with respect thereto this Agreement and the related
          Term
          Sheet shall remain in full force and effect.

        

        17. Article
          XI of the Agreement is hereby amended effective as of the date hereof by
          adding
          the following new Section 11.16:

        

        Section
          11.16. Use
          of
          Subservicers and Subcontractors.

        

        (a) The
          Servicer shall not hire or otherwise utilize the services of any Subservicer
          to
          fulfill any of the obligations of the Servicer as servicer under this Agreement
          or any Reconstitution Agreement unless the Servicer complies with the provisions
          of paragraph (b) of this Section. The Servicer shall not hire or otherwise
          utilize the services of any Subcontractor, and shall not permit any Subservicer
          to hire or otherwise utilize the services of any Subcontractor, to fulfill
          any
          of the obligations of the Servicer as servicer under this Agreement or
          any
          Reconstitution Agreement unless the Servicer complies with the provisions
          of
          paragraph (d) of this Section. 

        

        (b) It
          shall
          not be necessary for the Servicer to seek the consent of the Owner to the
          utilization of any subservicer. The Servicer shall cause any Subservicer
          used by
          the Servicer (or by any Subservicer) for the benefit of the Owner and any
          Depositor to comply with the provisions of this Section and with Sections
          3.01(m), 4.14, 6.04, 6.09 and 10.02 of this Agreement to the same extent
          as if
          such Subservicer were the Servicer, and to provide the information required
          with
          respect to such Subservicer under Section 3.02(b) of this Agreement. The
          Servicer shall be responsible for obtaining from each Subservicer and delivering
          to the Owner, any Master Servicer and any Depositor any Annual Statement
          of
          Compliance required to be delivered by such Subservicer under Section 6.04(a),
          any Assessment of Compliance and Attestation Report required to be delivered
          by
          such Subservicer under Section 6.09 and any Annual Certification required
          under
          Section 6.04(b) as and when required to be delivered.

        

        (c) The
          Servicer shall promptly upon request provide to the Owner, any Master Servicer
          and any Depositor (or any designee of the Depositor, such as an administrator)
          a
          written description (in form and substance satisfactory to the Owner, any
          Master
          Servicer and such Depositor) of the role and function of each Subcontractor
          utilized by the Servicer or any Subservicer, specifying (i) the identity
          of each
          such Subcontractor, (ii) which (if any) of such Subcontractors are
“participating in the servicing function” within the meaning of Item 1122 of
          Regulation AB, and (iii) which elements of the Servicing Criteria will
          be
          addressed in assessments of compliance provided by each Subcontractor identified
          pursuant to clause (ii) of this paragraph.

        

        (d) As
          a
          condition to the utilization of any Subcontractor determined to be
“participating in the servicing function” within the meaning of Item 1122 of
          Regulation AB, the Servicer shall cause any such Subcontractor used by
          the
          Servicer (or by any Subservicer) for the benefit of the Owner and any Depositor
          to comply with the provisions of Sections 6.09 and 10.02 of this Agreement
          to
          the same extent as if such Subcontractor were the Servicer. The Servicer
          shall
          be responsible for obtaining from each Subcontractor and delivering to
          the Owner
          and any Depositor any Assessment of Compliance and Attestation Report and
          the
          other certificates required to be delivered by such Subservicer and such
          Subcontractor under Section 6.09, in each case as and when required to
          be
          delivered.

        

        18. Article
          XI of the Agreement is hereby amended effective as of the date hereof by
          adding
          the following new Section 11.17:

        

        For
          purposes of this Agreement, and with respect to any Mortgage Loan in a
          Pass-Through Transfer, the related Master Servicer shall be considered
          a third
          party beneficiary to this Agreement, entitled to all the rights and benefits
          hereof as if it were a direct party to this Agreement, with respect to
          such
          Mortgage Loans.

        

        19. The
          Agreement is hereby amended effective as of the date hereof by deleting
          Exhibit
          E in its entirety and replacing it with the following:

        

        EXHIBIT
          E

        

        REPORTING
          DATA FOR MONTHLY REPORT

        

        
          	
                  Standard
                    File Layout - Master Servicing

                
	
                  Column
                    Name

                	
                  Description

                	
                  Decimal

                	
                  Format
                    Comment

                	
                  Max
                    Size

                
	
                  SER_INVESTOR_NBR

                	
                  A
                    value assigned by the Servicer to define a group of loans.

                	 	
                  Text
                    up to 10 digits

                	
                  20

                
	
                  LOAN_NBR

                	
                  A
                    unique identifier assigned to each loan by the investor.

                	 	
                  Text
                    up to 10 digits

                	
                  10

                
	
                  SERVICER_LOAN_NBR

                	
                  A
                    unique number assigned to a loan by the Servicer. This may be
                    different
                    than the LOAN_NBR.

                	 	
                  Text
                    up to 10 digits

                	
                  10

                
	
                  BORROWER_NAME

                	
                  The
                    borrower name as received in the file. It is not separated by
                    first and
                    last name.

                	 	
                  Maximum
                    length of 30 (Last, First)

                	
                  30

                
	
                  SCHED_PAY_AMT

                	
                  Scheduled
                    monthly principal and scheduled interest payment that a borrower
                    is
                    expected to pay, P&I constant.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  NOTE_INT_RATE

                	
                  The
                    loan interest rate as reported by the Servicer.

                	
                  4

                	
                  Max
                    length of 6

                	
                  6

                
	
                  NET_INT_RATE

                	
                  The
                    loan gross interest rate less the service fee rate as reported
                    by the
                    Servicer.

                	
                  4

                	
                  Max
                    length of 6

                	
                  6

                
	
                  SERV_FEE_RATE

                	
                  The
                    servicer's fee rate for a loan as reported by the
                    Servicer.

                	
                  4

                	
                  Max
                    length of 6

                	
                  6

                
	
                  SERV_FEE_AMT

                	
                  The
                    servicer's fee amount for a loan as reported by the
                    Servicer.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  NEW_PAY_AMT

                	
                  The
                    new loan payment amount as reported by the Servicer.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  NEW_LOAN_RATE

                	
                  The
                    new loan rate as reported by the Servicer.

                	
                  4

                	
                  Max
                    length of 6

                	
                  6

                
	
                  ARM_INDEX_RATE

                	
                  The
                    index the Servicer is using to calculate a forecasted
                    rate.

                	
                  4

                	
                  Max
                    length of 6

                	
                  6

                
	
                  ACTL_BEG_PRIN_BAL

                	
                  The
                    borrower's actual principal balance at the beginning of the processing
                    cycle.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  ACTL_END_PRIN_BAL

                	
                  The
                    borrower's actual principal balance at the end of the processing
                    cycle.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  BORR_NEXT_PAY_DUE_DATE

                	
                  The
                    date at the end of processing cycle that the borrower's next
                    payment is
                    due to the Servicer, as reported by Servicer.

                	 	
                  MM/DD/YYYY

                	
                  10

                
	
                  SERV_CURT_AMT_1

                	
                  The
                    first curtailment amount to be applied.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SERV_CURT_DATE_1

                	
                  The
                    curtailment date associated with the first curtailment
                    amount.

                	 	
                  MM/DD/YYYY

                	
                  10

                
	
                  CURT_ADJ_
                    AMT_1

                	
                  The
                    curtailment interest on the first curtailment amount, if
                    applicable.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SERV_CURT_AMT_2

                	
                  The
                    second curtailment amount to be applied.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SERV_CURT_DATE_2

                	
                  The
                    curtailment date associated with the second curtailment
                    amount.

                	 	
                  MM/DD/YYYY

                	
                  10

                
	
                  CURT_ADJ_
                    AMT_2

                	
                  The
                    curtailment interest on the second curtailment amount, if
                    applicable.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SERV_CURT_AMT_3

                	
                  The
                    third curtailment amount to be applied.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SERV_CURT_DATE_3

                	
                  The
                    curtailment date associated with the third curtailment
                    amount.

                	 	
                  MM/DD/YYYY

                	
                  10

                
	
                  CURT_ADJ_AMT_3

                	
                  The
                    curtailment interest on the third curtailment amount, if
                    applicable.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  PIF_AMT

                	
                  The
                    loan "paid in full" amount as reported by the Servicer.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  PIF_DATE

                	
                  The
                    paid in full date as reported by the Servicer.

                	 	
                  MM/DD/YYYY

                	
                  10

                
	 	 	 	
                  Action
                    Code Key: 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution,
                    65=Repurchase,70=REO

                	
                  2

                
	
                  ACTION_CODE

                	
                  The
                    standard FNMA numeric code used to indicate the default/delinquent
                    status
                    of a particular loan.

                
	
                  INT_ADJ_AMT

                	
                  The
                    amount of the interest adjustment as reported by the
                    Servicer.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SOLDIER_SAILOR_ADJ_AMT

                	
                  The
                    Soldier and Sailor Adjustment amount, if applicable.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  NON_ADV_LOAN_AMT

                	
                  The
                    Non Recoverable Loan Amount, if applicable.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  LOAN_LOSS_AMT

                	
                  The
                    amount the Servicer is passing as a loss, if applicable.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SCHED_BEG_PRIN_BAL

                	
                  The
                    scheduled outstanding principal amount due at the beginning of
                    the cycle
                    date to be passed through to investors.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SCHED_END_PRIN_BAL

                	
                  The
                    scheduled principal balance due to investors at the end of a
                    processing
                    cycle.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SCHED_PRIN_AMT

                	
                  The
                    scheduled principal amount as reported by the Servicer for the
                    current
                    cycle -- only applicable for Scheduled/Scheduled Loans.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  SCHED_NET_INT

                	
                  The
                    scheduled gross interest amount less the service fee amount for
                    the
                    current cycle as reported by the Servicer -- only applicable
                    for
                    Scheduled/Scheduled Loans.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  ACTL_PRIN_AMT

                	
                  The
                    actual principal amount collected by the Servicer for the current
                    reporting cycle -- only applicable for Actual/Actual
                    Loans.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  ACTL_NET_INT

                	
                  The
                    actual gross interest amount less the service fee amount for
                    the current
                    reporting cycle as reported by the Servicer -- only applicable
                    for
                    Actual/Actual Loans.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  PREPAY_PENALTY_
                    AMT

                	
                  The
                    penalty amount received when a borrower prepays on his loan as
                    reported by
                    the Servicer.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  PREPAY_PENALTY_
                    WAIVED

                	
                  The
                    prepayment penalty amount for the loan waived by the
                    servicer.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                
	
                  MOD_DATE

                	
                  The
                    Effective Payment Date of the Modification for the loan.

                	 	
                  MM/DD/YYYY

                	
                  10

                
	
                  MOD_TYPE

                	
                  The
                    Modification Type.

                	 	
                  Varchar
                    - value can be alpha or numeric

                	
                  30

                
	
                  DELINQ_P&I_ADVANCE_AMT

                	
                  The
                    current outstanding principal and interest advances made by
                    Servicer.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                	
                  11

                

        

        

        

        20. The
          Agreement is hereby amended effective as of the date hereof by adding the
          following new Exhibit F:

        

        EXHIBIT
          F

        

        FORM
          OF
          SERVICER CERTIFICATION

        

        Re:     The
          [ ]
          agreement dated as of [ l,
          200[ ]
          (the “Agreement”), among [IDENTIFY PARTIES]

        

        I,
          ____________________________, the _______________________ of [NAME OF SERVICER]
          (the “Company”), certify to [the Purchaser], [the Depositor], and the [Master
          Servicer] [Securities Administrator] [Trustee], and their officers, with
          the
          knowledge and intent that they will rely upon this certification,
          that:

        

        I
          have
          reviewed the servicer compliance statement of the Company provided in accordance
          with Item 1123 of Regulation AB (the “Compliance Statement”), the report on
          assessment of the Company’s compliance with the servicing criteria set forth in
          Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance
          with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as
          amended
          (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
          Assessment”), the registered public accounting firm’s attestation report
          provided in accordance with Rules 13a-18 and 15d-18 under the Exchange
          Act and
          Section 1122(b) of Regulation AB (the “Attestation Report”), and all servicing
          reports, officer’s certificates and other information relating to the servicing
          of the Mortgage Loans by the Company during 200[ ] that were delivered
          by the
          Company to the [Depositor] [Master Servicer] [Securities Administrator]
          [Trustee] pursuant to the Agreement (collectively, the “Company Servicing
          Information”);

        

        Based
          on
          my knowledge, the Company Servicing Information, taken as a whole, does
          not
          contain any untrue statement of a material fact or omit to state a material
          fact
          necessary to make the statements made, in the light of the circumstances
          under
          which such statements were made, not misleading with respect to the period
          of
          time covered by the Company Servicing Information;

        

        Based
          on
          my knowledge, all of the Company Servicing Information required to be provided
          by the Company under the Agreement has been provided to the [Depositor]
          [Master
          Servicer] [Securities Administrator] [Trustee];

        

        I
          am
          responsible for reviewing the activities performed by the Company as servicer
          under the Agreement, and based on my knowledge and the compliance review
          conducted in preparing the Compliance Statement and except as disclosed
          in the
          Compliance Statement, the Servicing Assessment or the Attestation Report,
          the
          Company has fulfilled its obligations under the Agreement in all material
          respects; and

        

        The
          Compliance Statement required to be delivered by the Company pursuant to
          this
          Agreement, and the Servicing Assessment and Attestation Report required
          to be
          provided by the Company and by any Subservicer and Subcontractor pursuant
          to the
          Agreement, have been provided to the [Depositor] [Master Servicer]. Any
          material
          instances of noncompliance described in such reports have been disclosed
          to the
          [Depositor] [Master Servicer]. Any material instance of noncompliance with
          the
          Servicing Criteria has been disclosed in such reports.

        

        

        21. The
          Agreement is hereby amended effective as of the date hereof by adding the
          following new Exhibit G:

        

        EXHIBIT
          G

        

        SERVICING
          CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

        

        The
          assessment of compliance to be delivered by [the Servicer] [Name of Subservicer]
          shall address, at a minimum, the criteria identified as below as “Applicable
          Servicing Criteria”:

        

        
          	
                  Servicing
                    Criteria 

                	
                  Applicable
                    Servicing Criteria

                
	
                  Reference

                	
                  Criteria

                	
                   

                
	
                   

                	
                  General
                    Servicing Considerations

                	
                   

                
	
                  1122(d)(1)(i)

                	
                  Policies
                    and procedures are instituted to monitor any performance or other
                    triggers
                    and events of default in accordance with the transaction
                    agreements.

                	 
	
                  1122(d)(1)(ii)

                	
                  If
                    any material servicing activities are outsourced to third parties,
                    policies and procedures are instituted to monitor the third party’s
                    performance and compliance with such servicing activities.

                	 
	
                  1122(d)(1)(iii)

                	
                  Any
                    requirements in the transaction agreements to maintain a back-up
                    servicer
                    for the mortgage loans are maintained.

                	 
	
                  1122(d)(1)(iv)

                	
                  A
                    fidelity bond and errors and omissions policy is in effect on
                    the party
                    participating in the servicing function throughout the reporting
                    period in
                    the amount of coverage required by and otherwise in accordance
                    with the
                    terms of the transaction agreements.

                	 
	
                   

                	
                  Cash
                    Collection and Administration

                	 
	
                  1122(d)(2)(i)

                	
                  Payments
                    on mortgage loans are deposited into the appropriate custodial
                    bank
                    accounts and related bank clearing accounts no more than two
                    business days
                    following receipt, or such other number of days specified in
                    the
                    transaction agreements.

                	 
	
                  1122(d)(2)(ii)

                	
                  Disbursements
                    made via wire transfer on behalf of an obligor or to an investor
                    are made
                    only by authorized personnel.

                	 
	
                  1122(d)(2)(iii)

                	
                  Advances
                    of funds or guarantees regarding collections, cash flows or distributions,
                    and any interest or other fees charged for such advances, are
                    made,
                    reviewed and approved as specified in the transaction
                    agreements.

                	 
	
                  1122(d)(2)(iv)

                	
                  The
                    related accounts for the transaction, such as cash reserve accounts
                    or
                    accounts established as a form of overcollateralization, are
                    separately
                    maintained (e.g., with respect to commingling of cash) as set
                    forth in the
                    transaction agreements.

                	 
	
                  1122(d)(2)(v)

                	
                  Each
                    custodial account is maintained at a federally insured depository
                    institution as set forth in the transaction agreements. For purposes
                    of
                    this criterion, “federally insured depository institution” with respect to
                    a foreign financial institution means a foreign financial institution
                    that
                    meets the requirements of Rule 13k-1(b)(1) of the Securities
                    Exchange
                    Act.

                	 
	
                  1122(d)(2)(vi)

                	
                  Unissued
                    checks are safeguarded so as to prevent unauthorized
                    access.

                	 
	
                  1122(d)(2)(vii)

                	
                  Reconciliations
                    are prepared on a monthly basis for all asset-backed securities
                    related
                    bank accounts, including custodial accounts and related bank
                    clearing
                    accounts. These reconciliations are (A) mathematically accurate;
                    (B)
                    prepared within 30 calendar days after the bank statement cutoff
                    date, or
                    such other number of days specified in the transaction agreements;
                    (C)
                    reviewed and approved by someone other than the person who prepared
                    the
                    reconciliation; and (D) contain explanations for reconciling
                    items. These
                    reconciling items are resolved within 90 calendar days of their
                    original
                    identification, or such other number of days specified in the
                    transaction
                    agreements.

                	 
	
                   

                	
                  Investor
                    Remittances and Reporting

                	 
	
                  1122(d)(3)(i)

                	
                  Reports
                    to investors, including those to be filed with the Commission,
                    are
                    maintained in accordance with the transaction agreements and
                    applicable
                    Commission requirements. Specifically, such reports (A) are prepared
                    in
                    accordance with timeframes and other terms set forth in the transaction
                    agreements; (B) provide information calculated in accordance
                    with the
                    terms specified in the transaction agreements; (C) are filed
                    with the
                    Commission as required by its rules and regulations; and (D)
                    agree with
                    investors’ or the trustee’s records as to the total unpaid principal
                    balance and number of mortgage loans serviced by the
                    Servicer.

                	 
	
                  1122(d)(3)(ii)

                	
                  Amounts
                    due to investors are allocated and remitted in accordance with
                    timeframes,
                    distribution priority and other terms set forth in the transaction
                    agreements.

                	 
	
                  1122(d)(3)(iii)

                	
                  Disbursements
                    made to an investor are posted within two business days to the
                    Servicer’s
                    investor records, or such other number of days specified in the
                    transaction agreements.

                	 
	
                  1122(d)(3)(iv)

                	
                  Amounts
                    remitted to investors per the investor reports agree with cancelled
                    checks, or other form of payment, or custodial bank
                    statements.

                	 
	
                   

                	
                  Pool
                    Asset Administration

                	 
	
                  1122(d)(4)(i)

                	
                  Collateral
                    or security on mortgage loans is maintained as required by the
                    transaction
                    agreements or related mortgage loan documents.

                	 
	
                  1122(d)(4)(ii)

                	
                  Mortgage
                    loan and related documents are safeguarded as required by the
                    transaction
                    agreements

                	 
	
                  1122(d)(4)(iii)

                	
                  Any
                    additions, removals or substitutions to the asset pool are made,
                    reviewed
                    and approved in accordance with any conditions or requirements
                    in the
                    transaction agreements.

                	 
	
                  1122(d)(4)(iv)

                	
                  Payments
                    on mortgage loans, including any payoffs, made in accordance
                    with the
                    related mortgage loan documents are posted to the Servicer’s obligor
                    records maintained no more than two business days after receipt,
                    or such
                    other number of days specified in the transaction agreements,
                    and
                    allocated to principal, interest or other items (e.g., escrow)
                    in
                    accordance with the related mortgage loan documents.

                	 
	
                  1122(d)(4)(v)

                	
                  The
                    Servicer’s records regarding the mortgage loans agree with the Servicer’s
                    records with respect to an obligor’s unpaid principal
                    balance.

                	 
	
                  1122(d)(4)(vi)

                	
                  Changes
                    with respect to the terms or status of an obligor's mortgage
                    loans (e.g.,
                    loan modifications or re-agings) are made, reviewed and approved
                    by
                    authorized personnel in accordance with the transaction agreements
                    and
                    related pool asset documents.

                	 
	
                  1122(d)(4)(vii)

                	
                  Loss
                    mitigation or recovery actions (e.g., forbearance plans, modifications
                    and
                    deeds in lieu of foreclosure, foreclosures and repossessions,
                    as
                    applicable) are initiated, conducted and concluded in accordance
                    with the
                    timeframes or other requirements established by the transaction
                    agreements.

                	 
	
                  1122(d)(4)(viii)

                	
                  Records
                    documenting collection efforts are maintained during the period
                    a mortgage
                    loan is delinquent in accordance with the transaction agreements.
                    Such
                    records are maintained on at least a monthly basis, or such other
                    period
                    specified in the transaction agreements, and describe the entity’s
                    activities in monitoring delinquent mortgage loans including,
                    for example,
                    phone calls, letters and payment rescheduling plans in cases
                    where
                    delinquency is deemed temporary (e.g., illness or
                    unemployment).

                	 
	
                  1122(d)(4)(ix)

                	
                  Adjustments
                    to interest rates or rates of return for mortgage loans with
                    variable
                    rates are computed based on the related mortgage loan
                    documents.

                	 
	
                  1122(d)(4)(x)

                	
                  Regarding
                    any funds held in trust for an obligor (such as escrow accounts):
                    (A) such
                    funds are analyzed, in accordance with the obligor’s mortgage loan
                    documents, on at least an annual basis, or such other period
                    specified in
                    the transaction agreements; (B) interest on such funds is paid,
                    or
                    credited, to obligors in accordance with applicable mortgage
                    loan
                    documents and state laws; and (C) such funds are returned to
                    the obligor
                    within 30 calendar days of full repayment of the related mortgage
                    loans,
                    or such other number of days specified in the transaction
                    agreements.

                	 
	
                  1122(d)(4)(xi)

                	
                  Payments
                    made on behalf of an obligor (such as tax or insurance payments)
                    are made
                    on or before the related penalty or expiration dates, as indicated
                    on the
                    appropriate bills or notices for such payments, provided that
                    such support
                    has been received by the servicer at least 30 calendar days prior
                    to these
                    dates, or such other number of days specified in the transaction
                    agreements.

                	 
	
                  1122(d)(4)(xii)

                	
                  Any
                    late payment penalties in connection with any payment to be made
                    on behalf
                    of an obligor are paid from the servicer’s funds and not charged to the
                    obligor, unless the late payment was due to the obligor’s error or
                    omission.

                	 
	
                  1122(d)(4)(xiii)

                	
                  Disbursements
                    made on behalf of an obligor are posted within two business days
                    to the
                    obligor’s records maintained by the servicer, or such other number of
                    days
                    specified in the transaction agreements.

                	 
	
                  1122(d)(4)(xiv)

                	
                  Delinquencies,
                    charge-offs and uncollectible accounts are recognized and recorded
                    in
                    accordance with the transaction agreements.

                	 
	
                  1122(d)(4)(xv)

                	
                  Any
                    external enhancement or other support, identified in Item 1114(a)(1)
                    through (3) or Item 1115 of Regulation AB, is maintained as set
                    forth in
                    the transaction agreements.

                	 
	
                   

                	
                   

                	
                   

                

        

         

        
           

          
            	 	[NAME OF COMPANY]
                    [NAME OF
                    SUBSERVICER]	 
	 	
                  	 	 
	 	Date:	 	 
	 	 	 	 
	 	By: 	 	 
	 	Name: 	 	 
	 	Title:	 	 

          

           

        

        22. The
          Agreement is hereby amended effective as of the date hereof by adding the
          following new Exhibit H:

         

        EXHIBIT
          H

         

        REPORTING
          DATA FOR DEFAULTED LOANS

        

        
          	
                  Standard
                    File Layout - Delinquency Reporting

                
	 	 	 	 
	
                  Column/Header
                    Name

                	
                  Description

                	
                  Decimal

                	
                  Format
                    Comment

                
	
                  SERVICER_LOAN_NBR

                	
                  A
                    unique number assigned to a loan by the Servicer. This may be
                    different
                    than the LOAN_NBR

                	 	
                   

                
	
                  LOAN_NBR

                	
                  A
                    unique identifier assigned to each loan by the originator.

                	 	
                   

                
	
                  CLIENT_NBR

                	
                  Servicer
                    Client Number

                	 	 
	
                  SERV_INVESTOR_NBR

                	
                  Contains
                    a unique number as assigned by an external servicer to identify
                    a group of
                    loans in their system.

                	 	
                   

                
	
                  BORROWER_FIRST_NAME

                	
                  First
                    Name of the Borrower.

                	 	 
	
                  BORROWER_LAST_NAME

                	
                  Last
                    name of the borrower.

                	 	 
	
                  PROP_ADDRESS

                	
                  Street
                    Name and Number of Property

                	 	
                   

                
	
                  PROP_STATE

                	
                  The
                    state where the property located.

                	 	
                   

                
	
                  PROP_ZIP

                	
                  Zip
                    code where the property is located.

                	 	
                   

                
	
                  BORR_NEXT_PAY_DUE_DATE

                	
                  The
                    date that the borrower's next payment is due to the servicer
                    at the end of
                    processing cycle, as reported by Servicer.

                	 	
                  MM/DD/YYYY

                
	
                  LOAN_TYPE

                	
                  Loan
                    Type (i.e. FHA, VA, Conv)

                	 	
                   

                
	
                  BANKRUPTCY_FILED_DATE

                	
                  The
                    date a particular bankruptcy claim was filed.

                	 	
                  MM/DD/YYYY

                
	
                  BANKRUPTCY_CHAPTER_CODE

                	
                  The
                    chapter under which the bankruptcy was filed.

                	 	
                   

                
	
                  BANKRUPTCY_CASE_NBR

                	
                  The
                    case number assigned by the court to the bankruptcy
                    filing.

                	 	
                   

                
	
                  POST_PETITION_DUE_DATE

                	
                  The
                    payment due date once the bankruptcy has been approved by the
                    courts

                	 	
                  MM/DD/YYYY

                
	
                  BANKRUPTCY_DCHRG_DISM_DATE

                	
                  The
                    Date The Loan Is Removed From Bankruptcy. Either by Dismissal,
                    Discharged
                    and/or a Motion For Relief Was Granted. 

                	 	
                  MM/DD/YYYY

                
	
                  LOSS_MIT_APPR_DATE

                	
                  The
                    Date The Loss Mitigation Was Approved By The Servicer

                	 	
                  MM/DD/YYYY

                
	
                  LOSS_MIT_TYPE

                	
                  The
                    Type Of Loss Mitigation Approved For A Loan Such As;

                	 	 
	
                  LOSS_MIT_EST_COMP_DATE

                	
                  The
                    Date The Loss Mitigation /Plan Is Scheduled To End/Close

                	 	
                  MM/DD/YYYY

                
	
                  LOSS_MIT_ACT_COMP_DATE

                	
                  The
                    Date The Loss Mitigation Is Actually Completed

                	 	
                  MM/DD/YYYY

                
	
                  FRCLSR_APPROVED_DATE

                	
                  The
                    date DA Admin sends a letter to the servicer with instructions
                    to begin
                    foreclosure proceedings.

                	 	
                  MM/DD/YYYY

                
	
                  ATTORNEY_REFERRAL_DATE

                	
                  Date
                    File Was Referred To Attorney to Pursue Foreclosure

                	 	
                  MM/DD/YYYY

                
	
                  FIRST_LEGAL_DATE

                	
                  Notice
                    of 1st legal filed by an Attorney in a Foreclosure Action

                	 	
                  MM/DD/YYYY

                
	
                  FRCLSR_SALE_EXPECTED_DATE

                	
                  The
                    date by which a foreclosure sale is expected to occur.

                	 	
                  MM/DD/YYYY

                
	
                  FRCLSR_SALE_DATE

                	
                  The
                    actual date of the foreclosure sale.

                	 	
                  MM/DD/YYYY

                
	
                  FRCLSR_SALE_AMT

                	
                  The
                    amount a property sold for at the foreclosure sale.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  EVICTION_START_DATE

                	
                  The
                    date the servicer initiates eviction of the borrower.

                	 	
                  MM/DD/YYYY

                
	
                  EVICTION_COMPLETED_DATE

                	
                  The
                    date the court revokes legal possession of the property from the
                    borrower.

                	 	
                  MM/DD/YYYY

                
	
                  LIST_PRICE

                	
                  The
                    price at which an REO property is marketed.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  LIST_DATE

                	
                  The
                    date an REO property is listed at a particular price.

                	 	
                  MM/DD/YYYY

                
	
                  OFFER_AMT

                	
                  The
                    dollar value of an offer for an REO property.

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  OFFER_DATE_TIME

                	
                  The
                    date an offer is received by DA Admin or by the Servicer.

                	 	
                  MM/DD/YYYY

                
	
                  REO_CLOSING_DATE

                	
                  The
                    date the REO sale of the property is scheduled to close.

                	 	
                  MM/DD/YYYY

                
	
                  REO_ACTUAL_CLOSING_DATE

                	
                  Actual
                    Date Of REO Sale

                	 	
                  MM/DD/YYYY

                
	
                  OCCUPANT_CODE

                	
                  Classification
                    of how the property is occupied.

                	 	
                   

                
	
                  PROP_CONDITION_CODE

                	
                  A
                    code that indicates the condition of the property.

                	 	
                   

                
	
                  PROP_INSPECTION_DATE

                	
                  The
                    date a property inspection is performed.

                	 	
                  MM/DD/YYYY

                
	
                  APPRAISAL_DATE

                	
                  The
                    date the appraisal was done.

                	 	
                  MM/DD/YYYY

                
	
                  CURR_PROP_VAL

                	
                   The
                    current "as is" value of the property based on brokers price
                    opinion or
                    appraisal.

                	
                  2

                	
                   

                
	
                  REPAIRED_PROP_VAL

                	
                  The
                    amount the property would be worth if repairs are completed pursuant
                    to a
                    broker's price opinion or appraisal.

                	
                  2

                	
                   

                
	
                  If
                    applicable:

                	
                   

                	 	
                   

                
	
                  DELINQ_STATUS_CODE

                	
                  FNMA
                    Code Describing Status of Loan

                	 	 
	
                  DELINQ_REASON_CODE

                	
                  The
                    circumstances which caused a borrower to stop paying on a loan.
                    Code
                    indicates the reason why the loan is in default for this
                    cycle.

                	 	 
	
                  MI_CLAIM_FILED_DATE

                	
                  Date
                    Mortgage Insurance Claim Was Filed With Mortgage Insurance
                    Company.

                	 	
                  MM/DD/YYYY

                
	
                  MI_CLAIM_AMT

                	
                  Amount
                    of Mortgage Insurance Claim Filed

                	 	
                  No
                    commas(,) or dollar signs ($)

                
	
                  MI_CLAIM_PAID_DATE

                	
                  Date
                    Mortgage Insurance Company Disbursed Claim Payment

                	 	
                  MM/DD/YYYY

                
	
                  MI_CLAIM_AMT_PAID

                	
                  Amount
                    Mortgage Insurance Company Paid On Claim

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  POOL_CLAIM_FILED_DATE

                	
                  Date
                    Claim Was Filed With Pool Insurance Company

                	 	
                  MM/DD/YYYY

                
	
                  POOL_CLAIM_AMT

                	
                  Amount
                    of Claim Filed With Pool Insurance Company

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  POOL_CLAIM_PAID_DATE

                	
                  Date
                    Claim Was Settled and The Check Was Issued By The Pool
                    Insurer

                	 	
                  MM/DD/YYYY

                
	
                  POOL_CLAIM_AMT_PAID

                	
                  Amount
                    Paid On Claim By Pool Insurance Company

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  FHA_PART_A_CLAIM_FILED_DATE

                	
                   Date
                    FHA Part A Claim Was Filed With HUD

                	 	
                  MM/DD/YYYY

                
	
                  FHA_PART_A_CLAIM_AMT

                	
                   Amount
                    of FHA Part A Claim Filed

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  FHA_PART_A_CLAIM_PAID_DATE

                	
                   Date
                    HUD Disbursed Part A Claim Payment

                	 	
                  MM/DD/YYYY

                
	
                  FHA_PART_A_CLAIM_PAID_AMT

                	
                   Amount
                    HUD Paid on Part A Claim

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  FHA_PART_B_CLAIM_FILED_DATE

                	
                    Date
                    FHA Part B Claim Was Filed With HUD

                	 	
                  MM/DD/YYYY

                
	
                  FHA_PART_B_CLAIM_AMT

                	
                    Amount
                    of FHA Part B Claim Filed

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  FHA_PART_B_CLAIM_PAID_DATE

                	
                     Date
                    HUD Disbursed Part B Claim Payment

                	 	
                  MM/DD/YYYY

                
	
                  FHA_PART_B_CLAIM_PAID_AMT

                	
                   Amount
                    HUD Paid on Part B Claim

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                
	
                  VA_CLAIM_FILED_DATE

                	
                   Date
                    VA Claim Was Filed With the Veterans Admin

                	 	
                  MM/DD/YYYY

                
	
                  VA_CLAIM_PAID_DATE

                	
                   Date
                    Veterans Admin. Disbursed VA Claim Payment

                	 	
                  MM/DD/YYYY

                
	
                  VA_CLAIM_PAID_AMT

                	
                   Amount
                    Veterans Admin. Paid on VA Claim

                	
                  2

                	
                  No
                    commas(,) or dollar signs ($)

                

        

        
 

        Exhibit
          2: Standard
          File Codes - Delinquency Reporting

         

        

         

        The
          Loss
          Mit Type
          field
          should show the approved Loss Mitigation Code as follows: 

         

        
          	·  	
                  ASUM-Approved
                    Assumption

                

        

         

        
          	·  	
                  BAP-Borrower
                    Assistance Program

                

        

         

        
          	·  	
                  CO-
                    Charge Off

                

        

         

        
          	·  	
                  DIL-
                    Deed-in-Lieu

                

        

         

        
          	·  	
                  FFA-
                    Formal Forbearance Agreement

                

        

         

        
          	·  	
                  MOD-
                    Loan Modification

                

        

         

        
          	·  	
                  PRE-
                    Pre-Sale

                

        

         

        
          	·  	
                  SS-
                    Short Sale

                

        

         

        
          	·  	
                  MISC-Anything
                    else approved by the PMI or Pool
                    Insurer

                

        

         

        NOTE:
          Wells
          Fargo Bank will accept alternative Loss Mitigation Types to those above,
          provided that they are consistent with industry standards. If Loss Mitigation
          Types other than those above are used, the Servicer must supply Wells Fargo
          Bank
          with a description of each of the Loss Mitigation Types prior to sending
          the
          file.

         

        The
          Occupant
          Code
          field
          should show the current status of the property code as follows:

         

        
          	·  	
                  Mortgagor

                

        

         

        
          	·  	
                  Tenant

                

        

         

        
          	·  	
                  Unknown
                    

                

        

         

        
          	·  	
                  Vacant

                

        

         

        The
          Property
          Condition
          field
          should show the last reported condition of the property as follows:

         

        
          	·  	
                  Damaged

                

        

         

        
          	·  	
                  Excellent

                

        

         

        
          	·  	
                  Fair

                

        

         

        
          	·  	
                  Gone

                

        

         

        
          	·  	
                  Good

                

        

         

        
          	·  	
                  Poor

                

        

         

        
          	·  	
                  Special
                    Hazard

                

        

         

        
          	·  	
                  Unknown

                

        

        
          
             

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        Exhibit
          2: Standard
          File Codes - Delinquency Reporting, Continued

         

        The
          FNMA
          Delinquent Reason Code
          field
          should show the Reason for Delinquency as follows: 

         

        

        
          	
                  Delinquency
                    Code

                   

                	
                  Delinquency
                    Description

                
	
                  001

                	
                  FNMA-Death
                    of principal mortgagor

                
	
                  002

                	
                  FNMA-Illness
                    of principal mortgagor

                
	
                  003

                	
                  FNMA-Illness
                    of mortgagor’s family member

                
	
                  004

                	
                  FNMA-Death
                    of mortgagor’s family member

                
	
                  005

                	
                  FNMA-Marital
                    difficulties

                
	
                  006

                	
                  FNMA-Curtailment
                    of income

                
	
                  007

                	
                  FNMA-Excessive
                    Obligation

                
	
                  008

                	
                  FNMA-Abandonment
                    of property

                
	
                  009

                	
                  FNMA-Distant
                    employee transfer

                
	
                  011

                	
                  FNMA-Property
                    problem

                
	
                  012

                	
                  FNMA-Inability
                    to sell property

                
	
                  013

                	
                  FNMA-Inability
                    to rent property

                
	
                  014

                	
                  FNMA-Military
                    Service

                
	
                  015

                	
                  FNMA-Other

                
	
                  016

                	
                  FNMA-Unemployment

                
	
                  017

                	
                  FNMA-Business
                    failure

                
	
                  019

                	
                  FNMA-Casualty
                    loss

                
	
                  022

                	
                  FNMA-Energy
                    environment costs

                
	
                  023

                	
                  FNMA-Servicing
                    problems

                
	
                  026

                	
                  FNMA-Payment
                    adjustment

                
	
                  027

                	
                  FNMA-Payment
                    dispute

                
	
                  029

                	
                  FNMA-Transfer
                    of ownership pending

                
	
                  030

                	
                  FNMA-Fraud

                
	
                  031

                	
                  FNMA-Unable
                    to contact borrower

                
	
                  INC

                	
                  FNMA-Incarceration

                

        

        

        
          
             

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        Exhibit
          2: Standard
          File Codes - Delinquency Reporting, Continued

         

        The
          FNMA
          Delinquent Status Code
          field
          should show the Status of Default as follows: 

         

        

        
          	
                  Status
                    Code

                	
                  Status
                    Description

                
	
                  09

                	
                  Forbearance

                
	
                  17

                	
                  Pre-foreclosure
                    Sale Closing Plan Accepted

                
	
                  24

                	
                  Government
                    Seizure

                
	
                  26

                	
                  Refinance

                
	
                  27

                	
                  Assumption

                
	
                  28

                	
                  Modification

                
	
                  29

                	
                  Charge-Off

                
	
                  30

                	
                  Third
                    Party Sale

                
	
                  31

                	
                  Probate

                
	
                  32

                	
                  Military
                    Indulgence

                
	
                  43

                	
                  Foreclosure
                    Started

                
	
                  44

                	
                  Deed-in-Lieu
                    Started

                
	
                  49

                	
                  Assignment
                    Completed

                
	
                  61

                	
                  Second
                    Lien Considerations

                
	
                  62

                	
                  Veteran’s
                    Affairs-No Bid

                
	
                  63

                	
                  Veteran’s
                    Affairs-Refund

                
	
                  64

                	
                  Veteran’s
                    Affairs-Buydown

                
	
                  65

                	
                  Chapter
                    7 Bankruptcy

                
	
                  66

                	
                  Chapter
                    11 Bankruptcy

                
	
                  67

                	
                  Chapter
                    13 Bankruptcy

                

        

         

         

        23. The
          Agreement is hereby amended effective as of the date hereof by adding the
          following new Exhibit I:

         

        EXHIBIT
          I

        

        REPORTING
          DATA FOR REALIZED LOSSES AND GAINS

        

        Calculation
          of Realized Loss/Gain Form 332- Instruction Sheet

        

        NOTE:
          Do not net or combine items. Show all expenses individually and all credits
          as
          separate line items. Claim packages are due on the remittance report date.
          Late
          submissions may result in claims not being passed until the following month.
          The
          Servicer is responsible to remit all funds pending loss approval and /or
          resolution of any disputed items. 

        1.  

         

        2.  The
          numbers on the 332 form correspond with the numbers listed below.

         

        Liquidation
          and Acquisition Expenses:

         

        1.  
           The
          Actual Unpaid Principal Balance of the Mortgage Loan. For documentation,
          an
          Amortization Schedule from date of default through liquidation breaking
          out the
          net interest and servicing fees advanced is required.

         

        2.  
           The
          Total
          Interest Due less the aggregate amount of servicing fee that would have
          been
          earned if all delinquent payments had been made as agreed. For documentation,
          an
          Amortization Schedule from date of default through liquidation breaking
          out the
          net interest and servicing fees advanced is required.

         

        3. 
            Accrued
          Servicing Fees based upon the Scheduled Principal Balance of the Mortgage
          Loan
          as calculated on a monthly basis. For documentation, an Amortization Schedule
          from date of default through liquidation breaking out the net interest
          and
          servicing fees advanced is required.

         

        4-12. Complete
          as applicable. Required documentation:

         

        *
          For
          taxes and insurance advances - see page 2 of 332 form - breakdown required
          showing period

         

        of
          coverage, base tax, interest, penalty. Advances prior to default require
          evidence of servicer efforts to recover advances.

         

        *
          For
          escrow advances - complete payment history 

         

        (to
          calculate advances from last positive escrow balance forward)

         

        *
          Other
          expenses -  copies of corporate advance history showing all payments

         

        *
          REO
          repairs > $1500 require explanation

         

        *
          REO
          repairs >$3000 require evidence of at least 2 bids.

         

        *
          Short
          Sale or Charge Off require P&L supporting the decision and WFB’s approved
          Officer Certificate 

         

        *
          Unusual
          or extraordinary items may require further documentation. 

         

        13.    
           The
          total
          of lines 1 through 12.

         

        3.  Credits:
          

         

        14-21. Complete
          as applicable. Required documentation:

         

        *
          Copy of
          the HUD 1 from the REO sale. If a 3rd
          Party
          Sale, bid instructions and Escrow Agent / Attorney

         

        Letter
          of
          Proceeds Breakdown.

         

        *
          Copy of
          EOB for any MI or gov't guarantee 

         

        *
          All
          other credits need to be clearly defined on the 332
          form      
     

         

         

        
          
            22.  
              The
              total
              of lines 14 through 21.

          

        

         

        Please
          Note: For
          HUD/VA loans, use line (18a) for Part A/Initial proceeds and line (18b)
          for Part
          B/Supplemental proceeds.

         

        Total
          Realized Loss (or Amount of Any Gain)

         

        23. The
          total
          derived from subtracting line 22 from 13. If the amount represents a realized
          gain, show
          the
          amount in parenthesis ( ). 

        

        Calculation
          of Realized Loss/Gain Form 332

        

        Prepared
          by: __________________   Date:
          _______________

         

         

        Phone:
          ______________________    Email
          Address:_____________________

        
 

         

        
          	
                  Servicer
                    Loan No.

                   

                	 	
                  Servicer
                    Name

                   

                	 	
                  Servicer
                    Address 

                   

                   

                   

                   

                

        

         

        WELLS
          FARGO BANK, N.A. Loan No._____________________________

         

         

        Borrower's
          Name: _________________________________________________________

         

        Property
          Address: _________________________________________________________

         

         

        Liquidation
          Type: REO Sale  
          3rd
          Party Sale  Short
          Sale Charge
          Off 

         

        Was
          this loan granted a Bankruptcy deficiency or cramdown  Yes 
          No

         

        If
“Yes”,
          provide deficiency or cramdown amount
          _______________________________

         

        
          
            	
                    Liquidation
                      and Acquisition Expenses:

                  
	
                    (1)

                  	
                    Actual
                      Unpaid Principal Balance of Mortgage Loan

                  	
                     

                  	 $	 	
                    (1)

                  
	
                    (2)

                  	
                    Interest
                      accrued at Net Rate

                  	 	 	
                     

                  	
                    (2)

                  
	
                    (3)

                  	
                    Accrued
                      Servicing Fees

                  	 	 	
                     

                  	
                    (3)

                  
	
                    (4)

                  	
                    Attorney's
                      Fees

                  	 	 	
                     

                  	
                    (4)

                  
	
                    (5)

                  	
                    Taxes
                      (see page 2)

                  	 	 	
                     

                  	
                    (5)

                  
	
                    (6)

                  	
                    Property
                      Maintenance

                  	 	 	
                     

                  	
                    (6)

                  
	
                    (7)

                  	
                    MI/Hazard
                      Insurance Premiums (see page 2)

                  	 	 	 	
                    (7)

                  
	
                    (8)

                  	
                    Utility
                      Expenses

                  	 	 	
                     

                  	
                    (8)

                  
	
                    (9)

                  	
                    Appraisal/BPO

                  	 	 	
                    
                    

                  	
                    (9)

                  
	
                    (10)

                  	
                    Property
                      Inspections

                  	 	 	
                    
                    

                  	
                    (10)

                  
	
                    (11)

                  	
                    FC
                      Costs/Other Legal Expenses

                  	 	 	 	
                    (11)

                  
	
                    (12)

                  	
                    Other
                      (itemize)

                  	 	 	
                    
                    

                  	
                    (12)

                  
	 	 	
                    Cash
                      for Keys

                  	
                  	 	 	 	
                    (12)

                  
	 	 	
                    HOA/Condo
                      Fees

                  	
                  	
                  	 	 	
                    (12)

                  
	 	 	
                     

                  	 	 	 	
                    (12)

                  
	 	 	 	 	 	 	 
	 	 	
                    Total
                      Expenses

                  	 	 $	 	
                    
                      (13)

                    

                  
	
                    Credits:

                  	 	 	 	 
	
                    (14)

                  	
                    Escrow
                      Balance

                  	 	 $	
                    
                    

                  	
                    (14)

                  
	
                    (15)

                  	
                    HIP
                      Refund

                  	 	 	 	
                    
                      (15)

                    

                  
	
                    (16)

                  	
                    Rental
                      Receipts

                  	 	 	
                    
                    

                  	
                    (16)

                  
	
                    (17)

                  	
                    Hazard
                      Loss Proceeds

                  	 	 	
                     

                  	
                    (17)

                  
	
                    (18)

                  	
                    Primary
                      Mortgage Insurance / Gov’t Insurance

                  	 	 	 	
                    (18a)

                  
	
                  	
                    (18a)
                      HUD Part A

                  	 	 	 	 
	 	 	 	 	 	
                    (18b)

                  
	 	
                    (18b)
                      HUD Part B

                  	 	 	 	 
	
                    (19)

                  	
                    Pool
                      Insurance Proceeds

                  	 	 	
                  	
                    (19)

                  
	
                    (20)

                  	
                    Proceeds
                      from Sale of Acquired Property

                  	 	 	 	
                    (20)

                  
	
                    (21)

                  	
                    Other
                      (itemize)

                  	 	 	
                     

                  	
                    (21)

                  
	 	
                     

                  	
                    
                    

                  	 	 	
                    (21) 

                  
	 	 	 	 	 	 	 
	
                  	
                    Total
                      Credits

                  	 	 $	
                    
                    

                  	
                    (22)

                  
	
                    Total
                      Realized Loss (or Amount of Gain)

                  	
                     

                  	 $	 	
                    (23)

                  

          

           

        

        Escrow
          Disbursement Detail

        

        

        
          	
                  Type

                  (Tax
                    /Ins.)

                	
                  Date
                    Paid

                	
                  Period
                    of Coverage

                	
                  Total
                    Paid

                	
                  Base
                    Amount

                	
                  Penalties

                	
                  Interest

                
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

        

         

        24. Except
          as
          amended above, the Agreement shall continue to be in full force and effect
          in
          accordance with its terms.

        

        25. This
          Amendment may be executed by one or more of the parties hereto on any number
          of
          separate counterparts and of said counterparts taken together shall be
          deemed to
          constitute one and the same instrument.

        

        [SIGNATURE
          PAGES FOLLOW]

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

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

         

        
          
            
              
                
                  	 	EMC
                          MORTGAGE CORPORATION,
                          as
                            Owner

                        	 
	 	 	 	 
	 	By:	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 	 	 	 
	 	
                          GMAC
                            MORTGAGE CORPORATION,

                          as
                            Servicer

                        	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title: 	 	 

                

              

            

          

        

      

       

       

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      H-3

     

    SERVICING
      AGREEMENT

     

    BANK
      OF
      AMERICA, NATIONAL CORPORATION

     

    

      

       

      

      
        

        

      

       

      

       

       

      AMENDED
        AND RESTATED 

      FLOW
        MORTGAGE LOAN SALE AND SERVICING AGREEMENT

       

       

      between

       

      

       

      BANK
        OF
        AMERICA, NATIONAL ASSOCIATION,

      as
        Seller
        and as Servicer,

      

       

      

       

      and

      

       

      

       

      EMC
        MORTGAGE CORPORATION

      as
        Purchaser

       

       

      April
        1,
        2005

       

       

      Residential
        Mortgage Loans

       

      

       

       

      

      
        

        

      

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SECTION
        1.  Definitions.

      SECTION
        2.  Purchase
        and Conveyance.

      SECTION
        3.  Mortgage
        Loan Schedule.

      SECTION
        4.  Purchase
        Price.

      SECTION
        5.  Examination
        of Mortgage Files.

      SECTION
        6.  Delivery
        of Mortgage Loan Documents.

      
        	 	
                Subsection
                  6.01 

              	
                Possession
                  of Mortgage Files.

              	 

      

      
        	 	
                Subsection
                  6.02 

              	
                Books
                  and Records.

              	 

      

      
        	 	
                Subsection
                  6.03 

              	
                Delivery
                  of Mortgage Loan Documents.

              	 

      

      SECTION
        7.  Representations,
        Warranties and Covenants; Remedies for Breach.

      
        	 	
                Subsection
                  7.01 

              	
                Representations
                  and Warranties Regarding Individual Mortgage Loans.

              	 

      

      
        	 	
                Subsection
                  7.02 

              	
                Seller
                  and Servicer Representations.

              	 

      

      
        	 	
                Subsection
                  7.03 

              	
                Remedies
                  for Breach of Representations and Warranties.

              	 

      

      
        	 	
                Subsection
                  7.04 

              	
                Repurchase
                  of Certain Prepaid or Converted Mortgage Loans.

              	 

      

      SECTION
        8.  Closing
        Conditions.

      SECTION
        9.  [Reserved.]

      SECTION
        10.  Costs.

      SECTION
        11.  Administration
        and Servicing of Mortgage Loans.

      
        	 	
                Subsection
                  11.01 

              	
                Servicer
                  to Act as Servicer; Subservicing.

              	 

      

      
        	 	
                Subsection
                  11.02 

              	
                Liquidation
                  of Mortgage Loans.

              	 

      

      
        	 	
                Subsection
                  11.03 

              	
                Collection
                  of Mortgage Loan Payments.

              	 

      

      
        	 	
                Subsection
                  11.04 

              	
                Establishment
                  of Custodial Account; Deposits in Custodial Account.

              	 

      

      
        	 	
                Subsection
                  11.05 

              	
                Withdrawals
                  From the Custodial Account.

              	 

      

      
        	 	
                Subsection
                  11.06 

              	
                Establishment
                  of Escrow Account; Deposits in Escrow Account.

              	 

      

      
        	 	
                Subsection
                  11.07 

              	
                Withdrawals
                  From Escrow Account.

              	 

      

      
        	 	
                Subsection
                  11.08 

              	
                Payment
                  of Taxes, Insurance and Other Charges; Collections
                  Thereunder.

              	 

      

      
        	 	
                Subsection
                  11.09 

              	
                Transfer
                  of Accounts.

              	 

      

      
        	 	
                Subsection
                  11.10 

              	
                Maintenance
                  of Hazard Insurance.

              	 

      

      
        	 	
                Subsection
                  11.11 

              	
                Maintenance
                  of Primary Mortgage Insurance Policy; Claims.

              	 

      

      
        	 	
                Subsection
                  11.12 

              	
                Fidelity
                  Bond; Errors and Omissions Insurance.

              	 

      

      
        	 	
                Subsection
                  11.13 

              	
                Title,
                  Management and Disposition of REO Property.

              	 

      

      
        	 	
                Subsection
                  11.14 

              	
                Servicing
                  Compensation.

              	 

      

      
        	 	
                Subsection
                  11.15 

              	
                Distributions.

              	 

      

      
        	 	
                Subsection
                  11.16 

              	
                Statements
                  to the Purchaser.

              	 

      

      
        	 	
                Subsection
                  11.17 

              	
                Advances
                  by the Servicer.

              	 

      

      
        	 	
                Subsection
                  11.18 

              	
                Assumption
                  Agreements.

              	 

      

      
        	 	
                Subsection
                  11.19 

              	
                Satisfaction
                  of Mortgages and Release of Mortgage Files.

              	 

      

      
        	 	
                Subsection
                  11.20 

              	
                Annual
                  Statement as to Compliance.

              	 

      

      
        	 	
                Subsection
                  11.21 

              	
                Annual
                  Independent Public Accountants’ Servicing Report.

              	 

      

      
        	 	
                Subsection
                  11.22 

              	
                Servicer
                  Shall Provide Access and Information as Reasonably
                  Required.

              	 

      

      
        	 	
                Subsection
                  11.23 

              	
                Inspections.

              	 

      

      
        	 	
                Subsection
                  11.24 

              	
                Restoration
                  of Mortgaged Property.

              	 

      

      SECTION
        12.  The
        Servicer.

      
        	 	
                Subsection
                  12.01 

              	
                Indemnification;
                  Third Party Claims.

              	 

      

      
        	 	
                Subsection
                  12.02 

              	
                Merger
                  or Consolidation of the Servicer.

              	 

      

      
        	 	
                Subsection
                  12.03 

              	
                Limitation
                  on Liability of the Servicer and Others.

              	 

      

      
        	 	
                Subsection
                  12.04 

              	
                Seller
                  and Servicer Not to Resign.

              	 

      

      SECTION
        13.  Default.

      
        	 	
                Subsection
                  13.01 

              	
                Events
                  of Default.

              	 

      

      
        	 	
                Subsection
                  13.02 

              	
                Waiver
                  of Default.

              	 

      

      SECTION
        14.  Termination.

      
        	 	
                Subsection
                  14.01 

              	
                Termination.

              	 

      

      
        	 	
                Subsection
                  14.02 

              	
                Successors
                  to the Servicer.

              	 

      

      SECTION
        15.  Notices.

      SECTION
        16.  Severability
        Clause.

      SECTION
        17.  No
        Partnership.

      SECTION
        18.  Counterparts.

      SECTION
        19.  Governing
        Law.

      SECTION
        20.  Intention
        of the Parties.

      SECTION
        21.  Waivers.

      SECTION
        22.  Exhibits.

      SECTION
        23.  General
        Interpretive Principles.

      SECTION
        24.  Reproduction
        of Documents.

      SECTION
        25.  Amendment.

      SECTION
        26.  Confidentiality.

      SECTION
        27.  Entire
        Agreement.

      SECTION
        28.  Further
        Agreements; Securitization.

      SECTION
        29.  Successors
        and Assigns.

      SECTION
        30.  Non-Solicitation.

      SECTION
        31.  Protection
        of Consumer Information.

      

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBITS

       

      

       

      EXHIBIT
        1     MORTGAGE
        LOAN DOCUMENTS

       

      EXHIBIT
        2     CONTENTS
        OF EACH MORTGAGE FILE

       

      
        	
                EXHIBIT
                  

              	
                 3    
                  UNDERWRITING GUIDELINES

              

      

       

      
        	
                EXHIBIT
                  

              	
                 4    
                  FORM OF LOST NOTE AFFIDAVIT

              

      

       

      
        	
                EXHIBIT
                  

              	
                 5    
                  FORM OF MONTHLY REMITTANCE REPORT

              

      

       

      
        	
                EXHIBIT
                  

              	
                 6    
                  FORM OF TERM SHEET

              

      

       

      
        	
                EXHIBIT
                  

              	
                 7    
                  FORM OF CERTIFICATION TO BE PROVIDED BY THE
                  SERVICER

              

      

       

      

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      AMENDED
        AND RESTATED

      FLOW
        MORTGAGE LOAN SALE AND SERVICING AGREEMENT

       

       

      THIS
        AMENDED AND RESTATED FLOW MORTGAGE LOAN SALE AND SERVICING AGREEMENT (the
        “Agreement”),
        dated
        April 1, 2005, is hereby executed by and between EMC MORTGAGE
        CORPORATION,
        a
        Delaware corporation, as purchaser (the “Purchaser”),
        and
BANK
        OF
        AMERICA,
        NATIONAL ASSOCIATION, a national banking association, as seller (the
“Seller”)
        and as
        servicer (the “Servicer”).

       

      WITNESSETH:

       

      WHEREAS,
        the Seller, the Servicer and the Purchaser are parties to a Flow Mortgage
        Loan
        Sale and Servicing Agreement, dated as of March 1, 2003, as amended by Amendment
        No. 1 to Flow Mortgage Loan Sale and Servicing Agreement, dated as of
        December 1, 2003, and by Amendment No. 2 to Flow Mortgage Loan Sale and
        Servicing Agreement, dated as of August 25, 2004 (collectively, the
“Existing
        Flow Agreement”),
        each
        by and among the Seller, the Servicer and the Purchaser; and

       

      WHEREAS,
        the Seller has agreed to sell from time to time to the Purchaser, and the
        Purchaser has agreed to purchase from time to time from the Seller, certain
        conventional, residential, first-lien mortgage loans (the “Mortgage
        Loans”)
        as
        described herein on a servicing-retained basis, and which shall be delivered
        as
        whole loans as provided herein; and

       

      WHEREAS,
        the Mortgage Loans will be sold by the Seller and purchased by the Purchaser
        as
        pools or groups of whole loans, servicing retained (each, a “Mortgage
        Loan Package”)
        on the
        various Closing Dates as provided herein; and

       

      WHEREAS,
        each of the Mortgage Loans will be secured by a mortgage, deed of trust or
        other
        security instrument creating a first lien on a residential dwelling located
        in
        the jurisdiction indicated on the related Mortgage Loan Schedule which will
        be
        annexed to a Term Sheet (as defined herein) on the related Closing Date;
        and

       

      WHEREAS,
        the Purchaser, the Seller and the Servicer wish to prescribe the manner of
        the
        conveyance, servicing and control of the Mortgage Loans;

       

      NOW,
        THEREFORE, in consideration of the premises and mutual agreements set forth
        herein, and for other good and valuable consideration, the receipt and
        sufficiency of which are hereby acknowledged, the Purchaser, the Seller and
        the
        Servicer agree that the Existing Flow Agreement is hereby amended and restated
        in its entirety as set forth in the heading and recitals hereto and as
        follows:

       

      
        	SECTION
                1.   	
                Definitions.

              

      

       

      For
        purposes of this Agreement, the following capitalized terms shall have the
        respective meanings set forth below.

       

      Adjustable
        Rate Mortgage Loan:
        A
        Mortgage Loan that contains a provision pursuant to which the Mortgage Interest
        Rate is adjusted periodically.

       

      Adjustment
        Date:
        As to
        each Adjustable Rate Mortgage Loan, the date on which the Mortgage Interest
        Rate
        is adjusted in accordance with the terms of the related Mortgage Note and
        Mortgage.

       

      Agreement:
        This
        Amended and Restated Flow Mortgage Loan Sale and Servicing Agreement including
        all exhibits, schedules, amendments and supplements hereto.

       

      ALTA:
        The
        American Land Title Association or any successor thereto.

       

      Appraised
        Value:
        With
        respect to any Mortgaged Property, the lesser of (i) the value thereof as
        determined by a Qualified Appraiser at the time of origination of the Mortgage
        Loan, and (ii) the purchase price paid for the related Mortgaged Property
        by the
        Mortgagor with the proceeds of the Mortgage Loan; provided,
        however,
        that in
        the case of a Refinanced Mortgage Loan, such value of the Mortgaged Property
        is
        based solely upon the value determined by an appraisal made for the originator
        of such Refinanced Mortgage Loan at the time of origination of such Refinanced
        Mortgage Loan by a Qualified Appraiser.

       

      Assignment
        of Mortgage:
        An
        individual assignment of the Mortgage, notice of transfer or equivalent
        instrument in recordable form, sufficient under the laws of the jurisdiction
        in
        which the related Mortgaged Property is located to give record notice of
        the
        sale of the Mortgage to the Purchaser.

       

      BPP
        Addendum:
        With
        respect to any BPP Mortgage Loan, a Borrowers Protection Plan® addendum to the
        related Mortgage Note pursuant to which the Servicer agrees to cancel (i)
        certain payments of principal and interest on the related Mortgage Loan for
        up
        to twelve (12) months upon the disability or involuntary unemployment of
        the
        Mortgagor or (ii) the outstanding principal balance of such Mortgage Loan
        upon
        the accidental death of the Mortgagor, subject to the terms thereof. When
        used
        herein, a Mortgage Loan to which such BPP Addendum relates is a BPP Mortgage
        Loan, to the extent not so stated. 

       

      BPP
        Fees:
        With
        respect to any BPP Mortgage Loan, any fees payable by a Mortgagor for the
        right
        to cancel any portion of principal or interest of a BPP Mortgage Loan pursuant
        to the terms of the related BPP Addendum. 

       

      BPP
        Mortgage Loan:
        Any
        Mortgage Loan which includes a BPP Addendum under which the Mortgagor accepted
        the Seller’s Borrowers Protection Plan® and is identified on the Mortgage Loan
        Schedule as a BPP Mortgage Loan, provided that such BPP Addendum has not
        been
        terminated in accordance with its terms.

       

      BPP
        Mortgage Loan Payment:
        With
        respect to any BPP Mortgage Loan, the Monthly Covered Amount or Total Covered
        Amount, if any, payable by the Servicer pursuant to Subsection 11.25.

       

      Business
        Day:
        Any day
        other than a Saturday or Sunday, or a day on which banking and savings and
        loan
        institutions in the States of New York, California or Virginia are authorized
        or
        obligated by law or executive order to be closed.

       

      Closing
        Date:
        The
        date or dates, set forth in the related Term Sheet, on which the Purchaser
        from
        time to time shall purchase and the Seller from time to time shall sell the
        Mortgage Loans identified on the related Mortgage Loan Schedule attached
        thereto.

       

      CLTA:
        The
        California Land Title Association or any other successor thereto.

       

      Code:
        The
        Internal Revenue Code of 1986, as amended, or any successor statute
        thereto.

       

      Condemnation
        Proceeds:
        All
        awards, compensation and settlements in respect of a taking (whether permanent
        or temporary) of all or part of a Mortgaged Property by exercise of the power
        of
        condemnation or the right of eminent domain, to the extent not required to
        be
        released to a Mortgagor in accordance with the terms of the related Mortgage
        Loan Documents.

       

      Consumer
        Information:
        Information including, but not limited to, all personal information about
        the
        Mortgagors that is supplied to the Seller by or on behalf of the
        Mortgagors.

       

      Convertible
        Mortgage Loan:
        An
        Adjustable Rate Mortgage Loan that by its terms and subject to certain
        conditions allows the Mortgagor to convert the adjustable Mortgage Interest
        Rate
        thereon to a fixed Mortgage Interest Rate.

       

      Covered
        Loan: 
A
        Mortgage Loan categorized as “Covered” pursuant to the Standard & Poor’s
        Glossary for File Format for LEVELS® Version 5.6, Appendix E, as revised from
        time to time and in effect on each related Closing Date.

       

      Custodial
        Account:
        As
        defined in Subsection 11.04.

       

      Customary
        Servicing Procedures:
        Procedures (including collection procedures) that the Servicer customarily
        employs and exercises in servicing and administering mortgage loans for its
        own
        account and which are in accordance with accepted mortgage servicing practices
        of prudent lending institutions and the Fannie Mae Guides.

       

      Cut-off
        Date:
        With
        respect to each Mortgage Loan, the first day of the month of the related
        Closing
        Date as set forth in the related Term Sheet.

       

      Cut-off
        Date Principal Balance:
        The
        aggregate Stated Principal Balance of the Mortgage Loans, set forth in the
        related Term Sheet, as of the related Cut-off Date which is determined after
        the
        application, to the reduction of principal, of payments of principal due
        on or
        before the related Cut-off Date, whether or not collected, and of Principal
        Prepayments received before the related Cut-off Date.

       

      Deleted
        Mortgage Loan:
        A
        Mortgage Loan replaced or to be replaced with a Substitute Mortgage Loan
        in
        accordance with this Agreement.

       

      Determination
        Date:
        With
        respect to each Remittance Date, the 15th day (or, if such 15th day is not
        a
        Business Day, the following Business Day) of the month in which such Remittance
        Date occurs.

       

      Due
        Date:
        With
        respect to each Remittance Date, the first day of the month in which such
        Remittance Date occurs, which is the day on which the Monthly Payment is
        due on
        a Mortgage Loan, exclusive of any days of grace.

       

      Due
        Period:
        With
        respect to each Remittance Date, the period beginning on the second day of
        the
        month preceding the month of the Remittance Date, and ending on the first
        day of
        the month of the Remittance Date.

       

      Eligible
        Investments:
        Any one
        or more of the following obligations or securities:

       

      (i)  direct
        obligations of, and obligations fully guaranteed by the United States of
        America
        or any agency or instrumentality of the United States of America the obligations
        of which are backed by the full faith and credit of the United States of
        America;

       

      (ii)  (a) demand
        or
        time deposits, federal funds or bankers' acceptances issued by any depository
        institu-tion or trust company incorporated under the laws of the United States
        of America or any state thereof and subject to supervision and examination
        by
        federal and/or state banking authorities, provided that the commercial paper
        and/or the short-term deposit rating and/or the long-term unsecured debt
        obligations or deposits of such depository institution or trust company at
        the
        time of such investment or contractual commitment providing for such investment
        are rated in one of the two highest rating categories by each Rating Agency
        and
        (b) any other demand or time deposit or certificate of deposit that is
        fully insured by the FDIC;

       

      (iii)  repurchase
        obligations with a term not to exceed thirty (30) days and with respect to
        (a) any security described in clause (i)  above and entered into with
        a depository institution or trust company (acting as principal) described
        in
        clause (ii)(a) above;

       

      (iv)  securities
        bearing interest or sold at a discount issued by any corporation incorporated
        under the laws of the United States of America or any state thereof that
        are
        rated in one of the two highest rating categories by each Rating Agency at
        the
        time of such in-vestment or contractual commitment providing for such
        investment; provided, however, that securities issued by any particular
        corporation will not be Eligible Investments to the extent that investments
        therein will cause the then outstanding principal amount of secur-ities issued
        by such corporation and held as Eligible Investments to exceed 10% of the
        aggregate outstand-ing principal balances of all of the Mortgage Loans and
        Eligible Investments;

       

      (v)  commercial
        paper (including both non-interest-bearing discount obligations and
        interest-bearing obliga-tions payable on demand or on a specified date not
        more
        than one year after the date of issuance there-of) which is rated in one
        of the
        two highest rating categories by each Rating Agency at the time of such
        investment;

       

      (vi)  any
        other
        demand, money market or time deposit, obligation, security or investment
        as may
        be acceptable to each Rating Agency as evidenced in writing by each Rating
        Agency; and

       

      (vii)  any
        money
        market funds the collateral of which consists of obligations fully guaranteed
        by
        the United States of America or any agency or instru-ment-al-ity of the United
        States of America the obligations of which are backed by the full faith and
        credit of the United States of America (which may include repurchase obligations
        secured by collateral described in clause (i)) and other securities and
        which money market funds are rated in one of the two highest rating categories
        by each Rating Agency;

       

      provided,
        however,
        that no
        instrument or security shall be an Eligible Investment if such instrument
        or
        security evidences a right to receive only interest payments with respect
        to the
        obli-ga-tions underlying such instrument or if such security provides for
        payment of both principal and interest with a yield to matur-ity in excess
        of
        120% of the yield to maturity at par or if such investment or security is
        purchased at a price greater than par.

       

      Escrow
        Account:
        As
        defined in Subsection 11.06.

       

      Escrow
        Payments:
        The
        amounts constituting ground rents, taxes, assessments, Primary Mortgage
        Insurance Policy premiums, fire and hazard insurance premiums, flood insurance
        premiums, condominium charges and other payments as may be required to be
        escrowed by the Mortgagor with the Mortgagee pursuant to the terms of any
        Mortgage Note or Mortgage.

       

      Event
        of Default:
        Any one
        of the conditions or circumstances enumerated in
        Subsection 13.01.

       

      Fannie
        Mae:
        The
        entity formerly known as the Federal National Mortgage Association or any
        successor thereto.

       

      Fannie
        Mae Guides:
        The
        Fannie Mae Sellers’ Guide and the Fannie Mae Servicers’ Guide and all amendments
        or additions thereto.

       

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

       

      Fidelity
        Bond:
        The
        fidelity bond required to be obtained by the Servicer pursuant to
        Subsection 11.12.

       

      FIRREA:
        The
        Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as
        amended
        and in effect from time to time.

       

      First
        Remittance Date:
        With
        respect to each Mortgage Loan Package, the 18th
        day (or
        if such 18th
        day is
        not a Business Day, the Business Day immediately following such 18th day)
        of the
        month following the related Closing Date.

       

      Freddie
        Mac:
        The
        entity formerly known as the Federal Home Loan Mortgage Corporation or any
        successor thereto.

       

      Freddie
        Mac Guide:
        The
        Freddie Mac Single Family Seller/Servicer Guide and all amendments or additions
        thereto.

       

      GAAP:
        Generally accepted accounting principles consistently applied.

       

      Gross
        Margin:
        With
        respect to each Adjustable Rate Mortgage Loan, the fixed percentage amount
        set
        forth in each related Mortgage Note and Mortgage which is added to the Index
        in
        order to determine the related Mortgage Interest Rate.

       

      High
        Cost Loan: 
A
        Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and
        Equity Protection Act of 1994, as amended, (b) a “high cost home,” “threshold,”
“covered” (excluding New Jersey “covered home loans” as that term is defined in
        clause (i) of the definition of that term under the New Jersey Home Ownership
        Security Act of 2002 (as amended) that were not originated between November
        26,
        2003 and July 7, 2004), “high risk home,” “predatory” or similar loan under any
        other applicable state, federal or local law or (c) a Mortgage Loan categorized
        as “High Cost” pursuant to the Standard & Poor’s Glossary for File Format
        for LEVELS® Version 5.6, Appendix E, as revised from time to time and in effect
        on each related Closing Date.

       

      HUD:
        The
        United States Department of Housing and Urban Development or any successor
        thereto.

       

      Index:
        With
        respect to any Adjustable Rate Mortgage Loan, the index identified on the
        Mortgage Loan Schedule and set forth in the related Mortgage Note for the
        purpose of calculating interest thereon.

       

      Initial
        Rate Cap:
        As to
        each Adjustable Rate Mortgage Loan, the maximum increase or decrease in the
        Mortgage Interest Rate on the first Adjustment Date as provided in the related
        Mortgage Note.

       

      Insurance
        Proceeds:
        With
        respect to each Mortgage Loan, proceeds of insurance policies insuring the
        Mortgage Loan or the related Mortgaged Property.

       

      Lifetime
        Rate Cap:
        As to
        each Adjustable Rate Mortgage Loan, the maximum Mortgage Interest Rate which
        shall be as permitted in accordance with the provisions of the related Mortgage
        Note.

       

      Liquidation
        Proceeds:
        The
        proceeds received in connection with the liquidation of a defaulted Mortgage
        Loan through trustee’s sale, foreclosure sale or otherwise, other than amounts
        received following the acquisition of REO Property, Insurance Proceeds and
        Condemnation Proceeds.

       

      Loan-to-Value
        Ratio:
        With
        respect to any Mortgage Loan as of any date of determination, the ratio,
        expressed as a percentage, on such date of the outstanding principal balance
        of
        the Mortgage Loan, to the Appraised Value of the related Mortgaged
        Property.

       

      LTV:
        Loan-to-Value Ratio.

       

      Monthly
        Covered Amount:
        With
        respect to any BPP Mortgage Loan, the amount of any principal and interest
        due
        by a Mortgagor and cancelled for any month pursuant to the terms of the related
        BPP Addendum upon the disability or involuntary unemployment of such
        Mortgagor.

       

      Monthly
        Payment:
        With
        respect to any Mortgage Loan, the scheduled payment of principal and interest
        payable by a Mortgagor under the related Mortgage Note on each Due Date,
        which
        such payment may change on any Adjustment Date as provided in the related
        Mortgage Note and Mortgage for any Adjustable Rate Mortgage Loan.

       

      Mortgage:
        The
        mortgage, deed of trust or other instrument creating a first lien on the
        Mortgaged Property securing the Mortgage Note.

       

      Mortgage
        File:
        With
        respect to any Mortgage Loan, the items listed in Exhibit 2
        hereto
        and any additional documents required to be added to the Mortgage File pursuant
        to this Agreement.

       

      Mortgage
        Interest Rate:
        With
        respect to each Mortgage Loan, the annual rate at which interest accrues
        on such
        Mortgage Loan from time to time in accordance with the provisions of the
        related
        Mortgage Note, including, but not limited to, the limitations on such interest
        rate imposed by the Initial Rate Cap, the Periodic Rate Cap and the Lifetime
        Rate Cap, if any.

       

      Mortgage
        Loan:
        Each
        mortgage loan sold, assigned and transferred pursuant to this Agreement and
        identified on the Mortgage Loan Schedule annexed to the related Term Sheet,
        including, without limitation, the Mortgage File, the Monthly Payments,
        Principal Prepayments, Liquidation Proceeds, Condemnation Proceeds, Insurance
        Proceeds, REO Disposition Proceeds, and all other rights, benefits, proceeds
        and
        obligations arising from or in connection with such mortgage loan.

       

      Mortgage
        Loan Documents:
        With
        respect to any Mortgage Loan, the documents listed in Exhibit 1
        hereto.

       

      Mortgage
        Loan Package:
        The
        pool or group of whole loans purchased on a Closing Date, as described in
        the
        Mortgage Loan Schedule annexed to the related Term Sheet.

       

      Mortgage
        Loan Remittance Rate:
        With
        respect to any Mortgage Loan, the annual rate of interest payable to the
        Purchaser, which shall be equal to the related Mortgage Interest Rate minus
        the
        related Servicing Fee Rate.

       

      Mortgage
        Loan Schedule:
        With
        respect to each Mortgage Loan Package, the schedule of Mortgage Loans annexed
        to
        the related Term Sheet (and delivered in electronic format to the Purchaser),
        such schedule as setting forth the following information with respect to
        each
        Mortgage Loan: (1) the Servicer’s Mortgage Loan identifying number;
        (2) a code indicating whether the Mortgaged Property is owner-occupied, a
        second home or an investment property; (3) the property type for each
        Mortgaged Property; (4) the original months to maturity and the remaining
        months to maturity from the Cut-off Date; (5) the Loan-to-Value Ratio at
        origination; (6) the Mortgage Interest Rate as of the Cut-off Date;
        (7) the date on which the first Monthly Payment was due on the Mortgage
        Loan, and, if such date is not the Due Date currently in effect, such Due
        Date;
        (8) the stated maturity date; (9) the amount of the Monthly Payment as
        of the Cut-off Date; (10) the paid-through date; (11) the original
        principal amount of the Mortgage Loan; (12) the Stated Principal Balance of
        the Mortgage Loan as of the close of business on the Cut-off Date; (13) the
        Mortgage Loan Remittance Rate as of the Cut-off Date; (14) a code
        indicating the purpose of the Mortgage Loan; (15) a code indicating the
        documentation style; (16) the Appraised Value; (17) the identity of
        the Seller; (18) the street address of the Mortgaged Property, including
        the city, state and zip code; (19) the number of times during the
        twelve (12) month period preceding the Closing Date that any Monthly
        Payment has been received more than thirty (30) days after its Due Date;
        (20) a code indicating whether or not the Mortgage Loan is subject to a
        Primary Mortgage Insurance Policy; (21) the date on which the Mortgage Loan
        was originated; (22) a code indicating whether the Mortgage contains a
        prepayment penalty provision together with the type and term of such penalty;
        (23) with respect to each Adjustable Rate Mortgage Loan, the Gross Margin;
        (24)
        with respect to each Adjustable Rate Mortgage Loan, the Lifetime Rate Cap;
        (25)
        with respect to each Adjustable Rate Mortgage Loan, the Periodic Rate Cap;
        (26)
        with respect to each Adjustable Rate Mortgage Loan, the Initial Rate Cap;
        (27)
        with respect to each Adjustable Rate Mortgage Loan, the Adjustment Date;
        (28) with respect to each Adjustable Rate Mortgage Loan, a code indicating
        the type of Index; (29) a code indicating whether
        the Mortgage Loan has a mandatory arbitration clause and
        (30) a code indicating whether the Mortgage Loan is a BPP Mortgage Loan.
        With respect to the Mortgage Loans on the Mortgage Loan Schedule in the
        aggregate, the Mortgage Loan Schedule shall set forth the following information,
        as of the Cut-off Date: (i) the number of Mortgage Loans; (ii) the
        Cut-off Date Principal Balance; (iii) the weighted average Mortgage
        Interest Rate of the Mortgage Loans; (iv) the weighted average months to
        maturity of the Mortgage Loans; (v) with respect to each Adjustable Rate
        Mortgage Loan, the weighted average Lifetime Rate Cap; and (vi) with respect
        to
        each Adjustable Rate Mortgage Loan, the weighted average Gross
        Margin.

       

      Mortgage
        Note:
        The
        original executed note or other evidence of the Mortgage Loan indebtedness
        of a
        Mortgagor, including any riders or addenda thereto.

       

      Mortgaged
        Property:
        The
        Mortgagor’s real property securing repayment of a related Mortgage Note,
        consisting of a fee simple interest in a single parcel of real property improved
        by a Residential Dwelling.

       

      Mortgagee:
        The
        mortgagee or beneficiary named in the Mortgage and the successors and assigns
        of
        such mortgagee or beneficiary.

       

      Mortgagor:
        The
        obligor on a Mortgage Note, who is an owner of the Mortgaged Property and
        the
        grantor or mortgagor named in the Mortgage and such grantor’s or mortgagor’s
        successors in title to the Mortgaged Property.

       

      NAIC:
        The
National
        Association of Insurance Commissioners or any successor
        organization.

       

      Officer’s
        Certificate:
        A
        certificate signed by the Chairman of the Board, the Vice Chairman of the
        Board,
        a President or a Vice President of the Person on behalf of whom such certificate
        is being delivered.

       

      Opinion
        of Counsel:
        A
        written opinion of counsel, who may be an employee of the Seller or the
        Servicer, reasonably acceptable to the Purchaser.

       

      OTS:
        The
        Office of Thrift Supervision or any successor.

       

      P&I
        Advance:
        As
        defined in Subsection 11.17.

       

      Periodic
        Rate Cap:
        As to
        each Adjustable Rate Mortgage Loan, the maximum increase or decrease in the
        Mortgage Interest Rate, on any Adjustment Date as provided in the related
        Mortgage Note.

       

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

       

      Primary
        Mortgage Insurance Policy:
        A
        policy of primary mortgage guaranty insurance issued by an insurer acceptable
        to
        Fannie Mae or Freddie Mac.

       

      Principal
        Prepayment:
        Any
        payment or other recovery of principal on a Mortgage Loan which is received
        in
        advance of its scheduled Due Date that is not accompanied by an amount of
        interest representing scheduled interest due on any date or dates in any
        month
        or months subsequent to the month of prepayment.

       

      Purchase
        Price:
        The
        price paid on the related Closing Date by the Purchaser to the Seller pursuant
        to this Agreement in exchange for the Mortgage Loans included in the related
        Mortgage Loan Package, as calculated pursuant to Section 4 and the related
        Term
        Sheet.

       

      Purchase
        Price Percentage:
        For
        each Mortgage Loan included in a Mortgage Loan Package, the percentage of
        par
        set forth in the related Term Sheet that is used to calculate the Purchase
        Price
        of the Mortgage Loans included in such Mortgage Loan Package.

       

      Purchaser:
        The
        Person listed as such in the initial paragraph of this Agreement, together
        with
        its successors and assigns as permitted under the terms of this
        Agreement.

       

      Qualified
        Appraiser:
        An
        appraiser of a Mortgaged Property duly appointed by the originator of the
        related Mortgage Loan, who had no interest, direct or indirect, in such
        Mortgaged Property or in any loan made on the security thereof, whose
        compensation is not affected by the approval or disapproval of the related
        Mortgage Loan and who met the qualifications of Fannie Mae or Freddie Mac
        and
        satisfied the requirements of Title XI of FIRREA.

       

      Rating
        Agency:
        Moody’s
        Investors Service, Inc., Standard & Poor’s Ratings Service, a Division of
        The McGraw-Hill Companies, Inc., Fitch, Inc. or any other nationally recognized
        statistical credit rating agency.

       

      Record
        Date:
        The
        close of business of the last Business Day of the month preceding the month
        of
        the related Remittance Date.

       

      Refinanced
        Mortgage Loan:
        A
        Mortgage Loan the proceeds of which were not used to purchase the related
        Mortgaged Property.

       

      Remittance
        Date:
        The
        18th day (or if such 18th day is not a Business Day, the first Business Day
        immediately following such 18th
        day) of
        any month, beginning with the First Remittance Date.

       

      REO
        Disposition:
        The
        final sale by the Servicer or the Purchaser of an REO Property.

       

      REO
        Disposition
        Proceeds:
        All
        amounts received with respect to an REO Disposition pursuant to
        Subsection 11.13.

       

      REO
        Property:
        A
        Mortgaged Property acquired by the Servicer through foreclosure or deed in
        lieu
        of foreclosure, as described in Subsection 11.13.

       

      Repurchase
        Price:
        With
        respect to any Mortgage Loan, an amount equal to (A) the Stated Principal
        Balance of such Mortgage Loan as of the date of repurchase plus
        (B) interest on such Stated Principal Balance at the Mortgage Loan
        Remittance Rate from and including the last Due Date through which interest
        has
        been paid on behalf of the Mortgagor or advanced by the Servicer to the day
        prior to such date of repurchase, less amounts received in respect of such
        repurchased Mortgage Loan for distribution in connection with such Mortgage
        Loan; provided, however, that if at the time of repurchase the Servicer is
        not
        the Seller or an affiliate of the Seller, the amount described in
        clause (B) shall be computed at the sum of (i) the Mortgage Loan
        Remittance Rate and (ii) the Servicing Fee Rate.

       

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

       

      Sarbanes
        Certifying Party:
        A
        Person who provides a certification required under the Sarbanes-Oxley Act
        of
        2002 in connection with a Securitization or other securitization
        transaction.

       

      Securities:  The
        securities issued in connection with a Securitization evidencing beneficial
        ownership interests in a trust the assets of which include the Mortgage
        Loans.

       

      Securitization:  The
        transfer of the Mortgage Loans to a trust formed as part of a publicly issued
        and/or privately placed, rated securitization, including the issuance of
        the
        related Securities.

       

      Seller:
        Bank of
        America, National Association, a national banking association, or its successor
        in interest or any successor to the Seller under this Agreement appointed
        as
        herein provided.

       

      Servicer:
        Bank of
        America, National Association, a national banking association, or its successor
        in interest or any successor to the Servicer under this Agreement appointed
        as
        herein provided.

       

      Servicing
        Advances:
        All
        customary, reasonable and necessary out-of-pocket costs and expenses incurred
        in
        the performance by the Servicer of its servicing obligations, including,
        but not
        limited to, the cost of (a) the preservation, restoration and protection of
        the Mortgaged Property, (b) any enforcement or judicial proceedings,
        including foreclosures, (c) the management and liquidation of the Mortgaged
        Property if the Mortgaged Property is acquired in satisfaction of the Mortgage,
        and (d) payments made by the Servicer with respect to a Mortgaged Property
        pursuant to Subsection 11.08.

       

      Servicing
        Fee:
        With
        respect to each Mortgage Loan, the amount of the annual fee the Purchaser
        shall
        pay to the Servicer, which shall, for each month, be equal to one-twelfth
        of the
        product of the applicable Servicing Fee Rate and the Stated Principal Balance
        of
        such Mortgage Loan. Such fee shall be payable monthly, computed on the basis
        of
        the same principal amount and period respecting which any related interest
        payment on a Mortgage Loan is computed. The obligation of the Purchaser to
        pay
        the Servicing Fee is limited to, and payable solely from, the interest portion
        (including recoveries with respect to interest from Liquidation Proceeds
        and
        other proceeds, to the extent permitted by Subsection 11.05) of related
        Monthly Payments collected by the Servicer, or as otherwise provided under
        Subsection 11.05.

       

      Servicing
        Fee Rate:
        With
        respect to each Mortgage Loan, the per annum rate set forth on the related
        Mortgage Loan Schedule or if not specified thereon, in the related Term
        Sheet.

       

      Servicing
        Officer:
        Any
        officer of the Servicer involved in, or responsible for, the administration
        and
        servicing of the Mortgage Loans whose name appears on a list of servicing
        officers furnished to the Purchaser by the Servicer, as such list may be
        amended
        from time to time.

       

      Stated
        Principal Balance:
        As to
        each Mortgage Loan as to any date of determination, (i) the principal
        balance of the Mortgage Loan at the related Cut-off Date after giving effect
        to
        the principal portion of any Monthly Payments due on or before such date,
        whether or not received, as well as any Principal Prepayments received before
        such date, minus (ii) all amounts previously distributed to the Purchaser
        with respect to the Mortgage Loan representing payments or recoveries of
        principal, or advances in lieu thereof.

       

      Substitute
        Mortgage Loan:
        A
        mortgage loan substituted by the Seller for a Deleted Mortgage Loan which
        must,
        on the date of such substitution, be approved by the Purchaser and (i) have
        a Stated Principal Balance, after deduction of the principal portion of the
        Monthly Payment due in the month of substitution, not in excess of, and not
        materially greater or less than, the Stated Principal Balance of the Deleted
        Mortgage Loan; (ii) have a Mortgage Interest Rate equal to that of the
        Deleted Mortgage Loan; (iii) have a Loan-to-Value Ratio not higher than
        that of the Deleted Mortgage Loan; (iv) have a remaining term to maturity
        not greater than (and not more than one year less than) that of the Deleted
        Mortgage Loan; (v) comply with each representation and warranty set forth
        in Subsection 7.01; (vi) be current in the payment of principal and
        interest; (vii) be secured by a Mortgaged Property of the same type and
        occupancy status as secured the Deleted Mortgage Loan; and (viii) have
        payment terms that do not vary in any material respect from those of the
        Deleted
        Mortgage Loan.

       

      Term
        Sheet:
        With
        respect to each Mortgage Loan and Mortgage Loan Package, the Term Sheet,
        substantially in the form of Exhibit
        6
        attached
        hereto, confirming the sale by Seller and the purchase by the Purchaser of
        the
        Mortgage Loan Package on the related Closing Date.

       

      Total
        Covered Amount:
        With
        respect to any BPP Mortgage Loan, the outstanding principal balance of the
        Mortgage Loan cancelled pursuant to the terms of the related BPP Addendum
        upon
        the accidental death of the related Mortgagor.

       

      Underwriting
        Guidelines:
        The
        underwriting guidelines of the Seller attached hereto as Exhibit
        3,
        as may
        be updated and incorporated into Exhibit
        3
        from
        time to time by providing such updates to the Purchaser. To be applicable
        to a
        given Mortgage Loan and Mortgage Loan Package purchased and sold hereunder,
        such
        updates shall be provided to the Purchaser in advance of the related Closing
        Date.

       

      
        	SECTION
                2.   	
                Purchase
                  and Conveyance.

              

      

       

      The
        Seller, in exchange for the payment of the applicable Purchase Price by the
        Purchaser on the related Closing Date, hereby agrees to sell, transfer, assign,
        set over and convey to the Purchaser, without recourse, but subject to the
        terms
        of this Agreement, all of its rights, title and interest in and to the Mortgage
        Loans in a Mortgage Loan Package having an aggregate principal balance on
        the
        related Cut-off Date in an amount as set forth in the related Term Sheet,
        or in
        such other amount as agreed by the Purchaser and the Seller as evidenced
        by the
        actual aggregate principal balance of the Mortgage Loan Package accepted
        by the
        Purchaser on the related Closing Date, together with the related Mortgage
        Files
        and all rights and obligations arising under the documents contained therein,
        but excluding any BPP Fees.

       

      With
        respect to each Mortgage Loan purchased, the Purchaser shall own and be entitled
        to receive: (a) all scheduled principal due after the applicable Cut-off
        Date, (b) all other payments and/or recoveries of principal collected on or
        after the applicable Cut-off Date (provided,
        however,
        that
        all scheduled payments of principal due on or before the applicable Cut-off
        Date
        and collected by the Servicer after the applicable Cut-off Date shall belong
        to
        the Seller), (c) all payments of interest on the Mortgage Loans net of the
        Servicing Fee (minus that portion of any such interest payment that is allocable
        to the period prior to the applicable Cut-off Date) and (d) all BPP Mortgage
        Loan Payments payable by the Servicer pursuant to Subsection 11.25 with respect
        to scheduled principal and interest due after the applicable Cut-off
        Date.

      

      
        	SECTION
                3.   	
                Mortgage
                  Loan Schedule.

              

      

       

      The
        Seller shall deliver the Mortgage Loan Schedule (which will be annexed to
        the
        related Term Sheet) to the Purchaser at least two (2) Business Days prior
        to the related
        Closing
        Date.

      

      
        	SECTION
                4.   	
                Purchase
                  Price.

              

      

       

      The
        Purchase Price for each Mortgage Loan Package shall be the Purchase Price
        Percentage multiplied by an amount equal to the Cut-off Date Principal Balance
        of the Mortgage Loans in such Mortgage Loan Package, or as otherwise calculated
        pursuant to the related Term Sheet, plus accrued interest on the aggregate
        scheduled principal balance of the Mortgage Loan Package at the weighted
        average
        Mortgage Loan Remittance Rate from the related Cut-off Date through the day
        immediately prior to the related Closing Date, inclusive. The initial principal
        amount of the Mortgage Loans shall be the aggregate principal balance of
        the
        Mortgage Loans, so computed as of the related Cut-off Date, after application
        of
        scheduled payments of principal due on or before the related Cut-off Date,
        whether or not collected. Such payment shall be made to the account designated
        by the Seller by wire transfer of immediately available funds by 4:00 p.m.
        Eastern Standard Time on the related Closing Date.

      

      
        	SECTION
                5.   	
                Examination
                  of Mortgage Files.

              

      

       

      In
        addition to any rights granted to the Purchaser hereunder to underwrite the
        Mortgage Loans and review the Mortgage Loan Documents prior to the related
        Closing
        Date, the Seller shall, prior to the related
        Closing
        Date, make the Mortgage Files available to the Purchaser for examination
        at the
        Seller’s offices. Such examination may be made by the Purchaser or its designee,
        at its expense, at any reasonable time before the related
        Closing
        Date. Such underwriting by the Purchaser or its designee shall not impair
        or
        diminish the rights of the Purchaser or any of its successors under this
        Agreement with respect to a breach of the representations and warranties
        contained in this Agreement. The fact that the Purchaser or its designee
        has
        conducted or has failed to conduct any partial or complete examination of
        the
        Mortgage Files shall not affect the Purchaser’s or any of its successors’ rights
        to demand repurchase or other relief or remedy provided for in this
        Agreement.

      

      
        	SECTION
                6.   	
                Delivery
                  of Mortgage Loan Documents.

              

      

       

      Subsection
        6.01   Possession
        of Mortgage Files. 

       

      The
        contents of each Mortgage File required to be retained by the Servicer to
        service the Mortgage Loans pursuant to this Agreement and thus not delivered
        to
        the Purchaser or its designee are and shall be held in trust by the Servicer
        for
        the benefit of the Purchaser as the owner thereof. The Servicer’s possession of
        any portion of each such Mortgage File is at the will of the Purchaser for
        the
        sole purpose of facilitating servicing of the Mortgage Loans pursuant to
        this
        Agreement, and such retention and possession by the Servicer shall be in
        a
        custodial capacity only. The ownership of each Mortgage Note, Mortgage and
        the
        contents of each Mortgage File is vested in the Purchaser and the ownership
        of
        all records and documents with respect to the related Mortgage Loan prepared
        by
        or which come into the possession of the Servicer shall immediately vest
        in the
        Purchaser and shall be retained and maintained, in trust, by the Servicer
        at the
        will of the Purchaser in such custodial capacity only. The Mortgage File
        retained by the Servicer with respect to each Mortgage Loan pursuant to this
        Agreement shall be appropriately identified in the Servicer’s computer system to
        reflect clearly the ownership of such related Mortgage Loan by the Purchaser.
        The Servicer shall release from its custody the contents of any Mortgage
        File
        retained by it only in accordance with this Agreement, except when such release
        is required in connection with a repurchase of any such Mortgage Loan pursuant
        to Subsection 7.03 of this Agreement or if required under applicable law or
        court order. The Servicer shall deliver to the Purchaser copies of any documents
        in a Mortgage File reasonably requested by the Purchaser within thirty (30)
        days
        after the date of such request, at the expense of the Purchaser.

       

      Subsection
        6.02   Books
        and Records.

       

      All
        rights arising out of the Mortgage Loans including, but not limited to, all
        funds received by the Servicer after the Cut-off Date on or in connection
        with a
        Mortgage Loan as provided in Section 2 shall be vested in the Purchaser,
        subject to this Agreement; provided,
        however,
        that
        all such funds received on or in connection with a Mortgage Loan as provided
        in
        Section 2 shall be received and held by the Servicer in trust for the
        benefit of the Purchaser as the owner of the Mortgage Loans pursuant to the
        terms of this Agreement.

       

      As
        more
        fully set forth in Section 20, it is the express intention of the parties
        that the transactions contemplated by this Agreement be, and be construed
        as, a
        sale of the Mortgage Loans by the Seller and not a pledge of the Mortgage
        Loans
        by the Seller to the Purchaser to secure a debt or other obligation of the
        Seller. Consequently, the sale of each Mortgage Loan shall be reflected as
        a
        purchase on the Purchaser’s business records, tax returns and financial
        statements, and as a sale of assets on the Seller’s business records, tax
        returns and financial statements.

      

      Subsection
        6.03   Delivery
        of Mortgage Loan Documents.

       

      With
        respect to each Mortgage Loan, the Seller shall deliver and release to the
        Purchaser, or its designee, under a bailee letter, (a) at least two (2)
        Business Days prior to the related Closing Date (or such later date as the
        Purchaser may reasonably request), the original Mortgage Note endorsed in
        blank
        and the original Assignment of Mortgage assigned in blank and (b) the other
        Mortgage Loan Documents within a reasonable time following the related Closing
        Date. To the extent that any such Mortgage Loan Documents have been delivered
        for recording and have not yet been returned to the Seller by the applicable
        recording office, the Seller shall, promptly following receipt by it of such
        Mortgage Loan Documents from the applicable recording office, deliver such
        documents to the Purchaser or its designee; provided,
        however,
        that the
        original recorded document or a clerk-certified copy thereof shall be delivered
        to the Purchaser no later than one year following the related Closing Date,
        subject to the following paragraph.

       

      In
        the
        event that such original or copy of any document submitted for recordation
        to
        the appropriate public recording office is not so delivered to the Purchaser
        or
        its designee within one year following the related Closing Date, and in the
        event that the Seller does not cure such failure within sixty (60) days
        after receipt of written notification of such failure from the Purchaser,
        the
        related Mortgage Loan shall, upon the request of the Purchaser, be repurchased
        by the Seller at a price and in the manner specified in Subsection 7.03.
        The foregoing repurchase obligation shall not apply in the event the Seller
        cannot cause the Servicer to deliver such original or clerk-certified copy
        of
        any document submitted for recordation to the appropriate public recording
        office within the specified period due to a delay caused by the recording
        office
        in the applicable jurisdiction; provided
        that
        the
        Seller shall cause the Servicer instead to deliver a recording receipt of
        such
        recording office or, if such recording receipt is not available, an Officer’s
        Certificate of a servicing officer of the Servicer, confirming that such
        document has been accepted for recording and that the Servicer shall immediately
        deliver such document upon receipt; and, provided
        further,
        that if
        the Seller cannot cause the Servicer to deliver such original or clerk-certified
        copy of any document submitted for recordation to the appropriate public
        recording office within the specified time for any reason within
        twelve (12) months after receipt of written notification of such failure
        from the Purchaser, the Seller shall repurchase the related Mortgage Loan
        at the
        price and in the manner specified in Subsection 7.03.

       

      To
        the
        extent received by it, the Servicer shall promptly forward to the Purchaser,
        or
        its designee, original documents evidencing an assumption, modification,
        consolidation or extension of any Mortgage Loan entered into in accordance
        with
        this Agreement.

      

      
        	SECTION
                7.   	
                 Representations,
                  Warranties and Covenants; Remedies for Breach.

              

      

       

      Subsection
        7.01   Representations
        and Warranties Regarding Individual Mortgage Loans.

       

      The
        Seller and, solely if specified below, the Servicer, hereby represent and
        warrant to the Purchaser that, as to each Mortgage Loan, as of the related
        Closing Date or such other date specified herein:

       

      (a)  The
        information set forth in the Mortgage Loan Schedule annexed to the related
        Term
        Sheet and the information contained in the related electronic data file
        delivered by the Seller to the Purchaser is true, correct and complete in
        all
        material respects.

       

      (b)  There
        are
        no defaults by the Seller, the Servicer or any prior originator in complying
        with the terms of the Mortgage, and all taxes, ground rents, governmental
        assessments, insurance premiums, leasehold payments, water, sewer and municipal
        charges which previously became due and owing have been paid, or escrow funds
        have been established in an amount sufficient to pay for every such escrowed
        item which remains unpaid and which has been assessed but is not yet due
        and
        payable.

       

      (c)  The
        terms
        of the Mortgage Note and the Mortgage have not been impaired, waived, altered
        or
        modified in any respect, except by written instruments which have been recorded
        in the applicable public recording office required by law or if necessary
        to
        maintain the lien priority of the Mortgage, and which have been delivered
        to the
        Purchaser; the substance of any such waiver, alteration or modification has
        been
        approved by the insurer under the Primary Mortgage Insurance Policy, if any,
        and
        by the title insurer, to the extent required by the related policy, and is
        reflected on the related Mortgage Loan Schedule. No other 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 insurer under the Primary Mortgage Insurance Policy, if any,
        and
        by the title insurer, to the extent required by the policy, and which assumption
        agreement is a part of the Mortgage File and is reflected on the related
        Mortgage Loan Schedule.

       

      (d)  The
        Mortgage Note and the Mortgage are not subject to any right of rescission,
        set-off, counterclaim or defense, including, without limitation, the defense
        of
        usury, nor will the operation of any of the terms of the Mortgage Note and
        the
        Mortgage, or the exercise of any right thereunder, render either the Mortgage
        Note or the Mortgage unenforceable, in whole or in part, or subject to any
        right
        of rescission, set-off, counterclaim or defense, including, without limitation,
        the defense of usury, and no such right of rescission, set-off, counterclaim
        or
        defense has been asserted with respect thereto; and the Mortgagor was not
        a
        debtor in any state or federal bankruptcy or insolvency proceeding at the
        time
        the Mortgage Loan was originated.

       

      (e)  All
        buildings or other customarily insured improvements upon the Mortgaged Property
        are insured by an insurer generally acceptable to Fannie Mae and to prudent
        mortgage lending institutions against loss by fire, hazards of extended coverage
        and such other hazards as are provided for in the Fannie Mae Guides as well
        as
        all additional requirements set forth herein, pursuant to an insurance policy
        conforming to the requirements of Customary Servicing Procedures and providing
        coverage in an amount equal to the lesser of (i) the full insurable value
        of the Mortgaged Property or (ii) the outstanding principal balance owing
        on the Mortgage Loan. All such insurance policies are in full force and effect
        and contain a standard mortgagee clause naming the originator of the Mortgage
        Loan, its successors and assigns as mortgagee and all premiums thereon have
        been
        paid. If the 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 Fannie Mae or Freddie Mac. The 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 Mortgage
        to maintain such insurance at the 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 protection, equal credit opportunity, fair housing or disclosure laws
        applicable to the origination and servicing of the Mortgage Loans have been
        complied with. None of the Mortgage Loans are (i) Covered Loans or (ii) High
        Cost Loans. The Servicer maintains, and shall maintain, evidence of such
        compliance as required by applicable law or regulation and shall make such
        evidence available for inspection at the Servicer’s office during normal
        business hours upon reasonable advance notice.

       

      (g)  The
        Mortgage has not been satisfied, canceled, subordinated or rescinded, in
        whole
        or in part (other than as to Principal Prepayments in full which may have
        been
        received on or after the related Cut-off Date and prior to the related Closing
        Date), and the 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, rescission or
        release. Neither the Seller nor the Servicer has waived the performance by
        the
        Mortgagor of any action, if the Mortgagor’s failure to perform such action would
        cause the Mortgage Loan to be in default, and neither the Seller nor the
        Servicer has waived any default.

       

      (h)  The
        Mortgage is a valid, existing, perfected and enforceable first lien on the
        Mortgaged Property, including all improvements on the Mortgaged Property,
        free
        and clear of all adverse claims, liens and encumbrances having priority over
        the
        lien of the Mortgage, subject only to (i) the lien of current real property
        taxes and assessments not yet due and payable, (ii) 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 either (A) specifically referred to in the
        lender’s title insurance policy, if any, delivered to the originator of the
        Mortgage Loan or (B) which do not adversely affect the Appraised Value of
        the Mortgaged Property and (iii) 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 or the use, enjoyment, value or marketability of the related Mortgaged
        Property. Any security agreement, chattel mortgage or equivalent document
        related to and delivered in connection with the 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
        Mortgage Note and the related Mortgage are original and genuine and each
        is the
        legal, valid and binding obligation of the maker thereof, enforceable in
        all
        respects in accordance with its terms except as enforceability may be limited
        by
        (i) bankruptcy, insolvency, liquidation, receivership, moratorium,
        reorganization or other similar laws affecting the enforcement of the rights
        of
        creditors and (ii) general principles of equity, whether enforcement is
        sought in a proceeding in equity or at law and the Seller has taken all action
        necessary to transfer such rights of enforceability to the
        Purchaser.

       

      (j)  All
        parties to the Mortgage Note and the Mortgage had the legal capacity to enter
        into the Mortgage Loan and to execute and deliver the Mortgage Note and the
        Mortgage, and the Mortgage Note and the Mortgage have been duly and properly
        executed by such parties. Either the Mortgagor is a natural person or the
        related co-borrower or guarantor is a natural person.

       

      (k)  The
        proceeds of the Mortgage Loan have been fully disbursed to or for the account
        of
        the 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 improvement and as to disbursements of any escrow funds therefor
        have
        been complied with. All costs, fees and expenses incurred in making or closing
        the Mortgage Loan and the recording of the 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 Mortgage Note or Mortgage.

       

      (l)  The
        Seller and all other parties which have had any interest in the 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 Mortgaged Property is located.

       

      (m)  (i)
        With
        respect to each Mortgage Loan, the Mortgage Loan is covered by an ALTA or
        CLTA
        lender’s title insurance policy, acceptable to Fannie Mae or Freddie Mac, issued
        by a title insurer acceptable to Fannie Mae or Freddie Mac and qualified
        to do
        business in the jurisdiction where the Mortgaged Property is located, insuring
        (subject to the exceptions contained in (h)(i), (ii) and (iii) above) the
        Seller, its successors and assigns as to the first priority lien of the Mortgage
        in the original principal amount of the Mortgage Loan and, with respect to
        any
        Adjustable Rate Mortgage Loan, against any loss by reason of the invalidity
        or
        unenforceability of the lien resulting from the provisions of the Mortgage
        providing for adjustment in the Mortgage Interest Rate or Monthly Payment,
        (ii)
        with respect to certain Refinanced Mortgage Loans, a title search has been
        doing
        showing no lien (other than the exceptions contained in (h)(i), (ii) or (iii)
        above) on the related Mortgaged Property senior to the lien of the Mortgage
        [or
        (iii) in the case of any Mortgage Loan secured by a Mortgaged Property located
        in a jurisdiction where title insurance 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 Mortgage Loan covered by
        a
        title insurance policy, (i) the Seller and its successors and assigns are
        the
        sole insureds of such lender’s title 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 will inure to the benefit of the Purchaser and its assigns without any
        further act and (ii) 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)  Other
        than Mortgage Loans delinquent fewer than thirty (30) days as of the related
        Cut-off Date, there is no default, breach, violation or event of acceleration
        existing under the Mortgage or the 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 permitting acceleration,
        and neither the Seller nor the Servicer has waived any default, breach,
        violation or event permitting acceleration.

       

      (o)  There
        are
        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 related Mortgaged Property which are or may be liens prior to, or equal
        or
        coordinate with, the lien of the related Mortgage.

       

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

       

      (q)  The
        Mortgage Loan was originated by a commercial bank or similar banking institution
        which is supervised and examined by a federal or state authority, or by a
        mortgagee approved by the Secretary of HUD.

       

      (r)  Principal
        payments on the Mortgage Loan commenced no more than sixty (60) days after
        the
        proceeds of the Mortgage Loan were disbursed. The Mortgage Loans identified
        on
        the related Mortgage Loan Schedule have an original term to maturity of not
        more
        than thirty (30) years, with interest payable in arrears on the first day
        of the
        month. As to each Adjustable Rate Mortgage Loan, on each applicable Adjustment
        Date, the Mortgage Interest Rate will be adjusted to equal the sum of the
        Index
        plus the applicable Gross Margin, rounded up or down as provided in the Mortgage
        Note; provided,
        however,
        that the
        Mortgage Interest Rate will not increase or decrease by more than the Initial
        Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent
        Adjustment Date, and will in no event exceed the Lifetime Rate Cap. Each
        Mortgage Note evidencing a Mortgage Loan other than an Adjustable Rate Mortgage
        Loan requires a Monthly Payment which is sufficient to amortize the original
        principal balance fully over the original term thereof and to pay interest
        at
        the related Mortgage Interest Rate. Each Mortgage Note evidencing an Adjustable
        Rate Mortgage Loan requires a Monthly
        Payment
        which is sufficient (i) during the period prior to the first adjustment to
        the
        Mortgage Interest Rate, to amortize the original principal balance fully
        over
        the original term thereof and to pay interest at the related Mortgage Interest
        Rate, and (ii) during the period following each Adjustment Date, to amortize
        the
        outstanding principal balance fully as of the first day of such period over
        the
        then remaining term of such Mortgage Note and to pay interest at the related
        Mortgage Interest Rate. No Mortgage Note evidencing an Adjustable Rate Mortgage
        Loan permits negative amortization. Interest on the Mortgage Note is calculated
        on the basis of a 360-day year consisting of twelve 30-day months.

       

      (s)  There
        is
        no proceeding pending or, to the Seller’s knowledge, threatened for the total or
        partial condemnation of the Mortgaged Property and such property is in good
        repair and is not subject to material damage by waste, fire, earthquake or
        earth
        movement, windstorm, flood, tornado or other casualty, that affects materially
        and adversely the value of the Mortgaged Property as security for the Mortgage
        Loan or the use for which the premises were intended.

       

      (t)  The
        Mortgage and related 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 Mortgaged Property of the benefits of the security
        provided thereby, including (i) in the case of a Mortgage designated as a
        deed of trust, by trustee’s sale, and (ii) otherwise by judicial
        foreclosure. To the best of the Seller’s knowledge, following the date of
        origination of the Mortgage Loan, the Mortgaged Property has not been subject
        to
        any bankruptcy proceeding or foreclosure proceeding and the Mortgagor has
        not
        filed for protection under applicable bankruptcy laws. There is no homestead
        or
        other exemption or right available to the Mortgagor or any other person which
        would interfere with the right to sell the Mortgaged Property at a trustee’s
        sale or the right to foreclose the Mortgage.

       

      (u)  The
        Mortgage Note and Mortgage are on forms acceptable to Fannie Mae or Freddie
        Mac.

       

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

       

      (w)  The
        Mortgage File contains an appraisal of the related Mortgaged Property, in
        a form
        acceptable to Fannie Mae or Freddie Mac and such appraisal complies with
        the
        requirements of FIRREA, and, to the extent required in the Underwriting
        Guidelines with respect to mortgage loans of the same type as the Mortgage
        Loan,
        was made and signed, prior to the approval of the Mortgage Loan application,
        by
        a Qualified Appraiser.

       

      (x)  In
        the
        event the 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 is named in the Mortgage, and no fees or expenses are or will
        become
        payable by the Purchaser to the trustee under the deed of trust, except in
        connection with a trustee’s sale after default by the Mortgagor.

       

      (y)  The
        Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan
        does not have a shared appreciation, balloon payment or other contingent
        interest feature, nor does it contain any “buydown” provision which is currently
        in effect.

       

      (z)  The
        Mortgage contains an enforceable provision for the acceleration of the payment
        of the unpaid principal balance of the Mortgage Loan in the event that the
        Mortgaged Property is sold or transferred without the prior written consent
        of
        the mortgagee thereunder.

       

      (aa)  The
        Mortgagor has received all disclosure materials required by applicable law
        with
        respect to the making of mortgage loans of the same type as the Mortgage
        Loan
        and rescission materials required by applicable law if the Mortgage Loan
        is a
        Refinanced Mortgage Loan and has acknowledged receipt of such materials to
        the
        extent required by applicable law and such documents will remain in the Mortgage
        File.

       

      (bb)  No
        Mortgage Loan has an LTV at origination in excess of 95%. Each Mortgage Loan
        with an LTV at origination in excess of 80% will be subject to a Primary
        Mortgage Insurance Policy, issued by an insurer acceptable to Fannie Mae
        or
        Freddie Mac at the time of origination, which insures that portion of the
        Mortgage Loan in excess of the portion of the Appraised Value of the Mortgaged
        Property as required by Fannie Mae. 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 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 the LTV of such Mortgage Loan is reduced
        to
        less than 80%. The Mortgage Interest Rate for the Mortgage Loan does not
        include
        any such insurance premium. No Mortgage Loan requires payment of such premiums,
        in whole or in part, by the Purchaser.

       

      (cc)  The
        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 the 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 no improvement
        located on or part of the Mortgaged Property is in violation of any zoning
        law
        or regulation.

       

      (dd)  The
        Assignment of Mortgage is in recordable form and is acceptable for recording
        under the laws of the jurisdiction in which the Mortgaged Property is
        located.

       

      (ee)  All
        payments required to be made prior to the related Cut-off Date for such Mortgage
        Loan under the terms of the Mortgage Note have been made, the Mortgage Loan
        has
        not been dishonored, there are no material defaults under the terms of the
        Mortgage Loan and no Mortgage Loan has been more than thirty (30) days
        delinquent more than once in the twelve month period immediately prior to
        the
        related Cut-off Date.

       

      (ff)  None
        of
        the Seller, the Servicer or any prior originator or servicer has advanced
        funds,
        or induced, solicited or knowingly received any advance from any party other
        than the Mortgagor, directly or indirectly, for the payment of any amount
        due
        under the Mortgage Loan.

       

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

       

      (hh)  Immediately
        prior to the payment of the related Purchase Price, the Seller was the sole
        owner and holder of the Mortgage Loans and the indebtedness evidenced by
        the
        Mortgage Note. The Mortgage Loans, including the Mortgage Note and the Mortgage,
        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
        Mortgage Loans to the Purchaser 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 Mortgage Loans. Following the
        sale
        of the Mortgage Loans, the Purchaser will own such Mortgage Loan free and
        clear
        of any encumbrance, equity, participation interest, lien, pledge, charge,
        claim
        or security interest. The Seller intends to relinquish all rights to monitor,
        possess and control the Mortgage Loan except in connection with the servicing
        of
        the Mortgage Loan by the Servicer as set forth in this Agreement. After the
        related Closing Date, neither the Seller nor the Servicer will have any right
        to
        modify or alter the terms of the sale of the Mortgage Loans and neither the
        Seller nor the Servicer will have any obligation or right to repurchase the
        Mortgage Loans, except as provided in this Agreement or as otherwise agreed
        to
        by the Seller, the Servicer and the Purchaser.

       

      (ii)  Any
        future advances made prior to the related Cut-off Date have been consolidated
        with the outstanding principal amount secured by the Mortgage, and the secured
        principal amount, as consolidated, bears a single interest rate and single
        repayment term. The lien of the 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 Fannie Mae and Freddie
        Mac.
        The consolidated principal amount does not exceed the original principal
        amount
        of the Mortgage Loan.

       

      (jj)  The
        Mortgage Loan was underwritten in accordance with the Underwriting Guidelines
        in
        effect at the time of origination with exceptions thereto exercised in a
        reasonable manner.

       

      (kk)  The
        Mortgaged Property is located in the state identified in the related 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; provided, however,
        that any
        condominium project or planned unit development generally conforms with the
        Underwriting Guidelines regarding such dwellings, and no residence or dwelling
        is a mobile home, manufactured dwelling or cooperative.

       

      (ll)  If
        the
        Mortgaged Property is a condominium unit or a planned unit development (other
        than a de
        minimis
        planned
        unit development) such condominium or planned unit development project meets
        Fannie Mae or Freddie Mac eligibility requirements for sale to Fannie Mae
        or
        Freddie Mac, as the case may be, or is located in a condominium or planned
        unit
        development project which has received Fannie Mae or Freddie Mac project
        approval or as to which Fannie Mae’s and Freddie Mac’s eligibility requirements
        have been waived.

       

      (mm)  The
        Seller used no adverse selection procedures in selecting the Mortgage Loan
        from
        among the outstanding first-lien, residential mortgage loans owned by it
        which
        were available for inclusion in the Mortgage Loans.

       

      (nn)  Each
        Mortgage Loan is a “qualified mortgage” within Section 860G(a)(3) of the
        Code.

       

      (oo)  With
        respect to each Mortgage where a lost note affidavit has been delivered in
        place
        of the related Mortgage Note, the related Mortgage Note is no longer in
        existence. Each such lost note affidavit is substantially in the form attached
        hereto as Exhibit 4.

       

      (pp)   
No
        fraud, error, omission,
        misrepresentation, negligence or similar occurrence with respect to the Mortgage
        Loan has taken place on the part of the Seller, the Servicer or, to the best
        of
        the Seller’s knowledge, any other originator or servicer or the Mortgagor or on
        the part of any other party involved in the origination of the Mortgage
        Loan.

       

      (qq)     
        The origination practices used by the Seller and the collection and servicing
        practices used by the Servicer with respect to each Mortgage Loan have been
        in
        all respects legal, proper, prudent and customary in the mortgage origination
        and servicing industry and the collection and servicing practices used by
        the
        Servicer have been acceptable to Fannie Mae and Freddie Mac.

       

      (rr)  As
        of the
        date of origination of the Mortgage Loan, the Mortgagor was not in bankruptcy
        and was not insolvent; as of the Closing Date, the Seller has not received
        any
        notice that the Mortgagor was in bankruptcy or was insolvent and neither
        the
        Seller nor the Servicer has any knowledge of any circumstances or condition
        with
        respect to the Mortgage, the Mortgaged Property, the Mortgagor or the
        Mortgagor’s credit standing that could reasonably be expected to cause investors
        to regard the Mortgage Loan as an unacceptable investment, cause the Mortgage
        Loan to become delinquent or materially adversely affect the value or the
        marketability of the Mortgage Loan.

       

      (ss)  The
        Mortgagor has not notified the Seller or the Servicer, and neither the Seller
        nor the Servicer has knowledge of any relief requested by the Mortgagor under
        the Servicemembers Civil Relief Act.

       

      (tt)  No
        Mortgage Loan was made in connection with (i) the construction or
        rehabilitation of a Mortgaged Property or (ii) facilitating the trade-in or
        exchange of a Mortgaged Property.

       

      (uu)  There
        is
        no pending action or proceeding directly involving any Mortgaged Property
        of
        which the Seller or the Servicer is aware in which compliance with any
        environmental law, rule or regulation is an issue and, to the Seller’s
        knowledge, nothing further remains to be done to satisfy in full all
        requirements of each such law, rule or regulation constituting a prerequisite
        to
        use and enjoyment of said property.

       

      (vv)  No
        action, inaction, or event has occurred and no state of affairs exists or
        has
        existed that has resulted or will result in the exclusion from, denial of,
        or
        defense to coverage under any applicable special hazard insurance policy,
        Primary Mortgage Insurance Policy or bankruptcy bond, irrespective of the
        cause
        of such failure of coverage. In connection with the placement of any such
        insurance, no commission, fee, or other compensation has been or will be
        received by the Seller or the Servicer or any designee of the Seller or the
        Servicer or any corporation in which the Seller, the Servicer or any officer,
        director, or employee of the Seller or the Servicer had a financial interest
        at
        the time of placement of such insurance.

       

      (ww)  With
        respect to any ground lease to which a Mortgaged Property may be subject:
        (A) the Mortgagor is the owner of a valid and subsisting leasehold interest
        under such ground lease; (B) such ground lease is in full force and effect,
        unmodified and not supplemented by any writing or otherwise; (C) all rent,
        additional rent and other charges reserved therein have been fully paid to
        the
        extent payable as of the related Closing Date; (D) the Mortgagor enjoys the
        quiet and peaceful possession of the leasehold estate; (E) the Mortgagor is
        not in default under any of the terms of such ground lease, and there are
        no
        circumstances which, with the passage of time or the giving of notice, or
        both,
        would result in a default under such ground lease; (F) the lessor under
        such ground lease is not in default under any of the terms or provisions
        of such
        ground lease on the part of the lessor to be observed or performed; (G) the
        lessor under such ground lease has satisfied any repair or construction
        obligations due as of the related Closing Date pursuant to the terms of such
        ground lease; (H) the execution, delivery and performance of the Mortgage
        do not require the consent (other than those consents which have been obtained
        and are in full force and effect) under, and will not contravene any provision
        of or cause a default under, such ground lease; and (I) the term of such
        lease does not terminate earlier than the maturity date of the Mortgage Note.
        

       

      (xx)      
        With respect to escrow deposits and payments that the Servicer is entitled
        to
        collect, all such payments are in the possession of, or under the control
        of the
        Servicer, and there exist no deficiencies in connection therewith for which
        customary arrangements for repayment thereof have not been made. All escrow
        payments have been collected in full compliance with state and federal law
        and
        the provisions of the related Mortgage Note and Mortgage. As to any Mortgage
        Loan that is the subject of an escrow, escrow of funds is not prohibited
        by
        applicable law and has been established in an amount sufficient to pay for
        every
        escrowed item that remains unpaid and has been assessed but is not yet due
        and
        payable. No escrow deposits or other charges or payments due under the Mortgage
        Note have been capitalized under any Mortgage or the related Mortgage
        Note.

       

      (yy)     
        There is no Mortgage Loan that was originated on or after October
        1,
        2002 and before March 7, 2003, which is secured by property located in the
        State
        of Georgia.

       

      (zz)      
        No proceeds from any Mortgage Loan were used to finance single premium
        credit insurance policies.

       

      (aaa)  No
        borrower was required to purchase any credit life, disability, accident or
        health insurance product as a condition of obtaining the extension of credit.
        No
        borrower obtained a prepaid single-premium credit life, disability, accident
        or
        health insurance policy in connection with the origination of the Mortgage
        Loan;
        No proceeds from any Mortgage Loan were used to purchase single premium credit
        insurance policies as part of the origination of, or as a condition to closing,
        such Mortgage Loan.

       

      (bbb)  Any
        Mortgage Loan with a Mortgaged Property in the State of Illinois complies
        with
        the Illinois Interest Act.

       

      (ccc)  With
        respect to any Mortgage Loan originated on or after August 1, 2004 and
        underlying the security, neither the related Mortgage nor the related Mortgage
        Note requires the borrower to submit to arbitration to resolve any dispute
        arising out of or relating in any way to the mortgage loan
        transaction.

       

      (ddd)  The
        Servicer will transmit full-file credit reporting data for each Mortgage
        Loan
        pursuant to the Fannie Mae Selling Guide and that for each Mortgage Loan,
        Servicer agrees it shall report one of the following statuses each month
        as
        follows: new origination, current, delinquent (30-, 60-, 90-days, etc.),
        foreclosed, or charged-off.

       

      (eee)  Each
        Mortgage Loan is in compliance with the anti-predatory lending eligibility
        for
        purchase requirements of Fannie Mae’s Selling Guide.

       

      Subsection
        7.02   Seller
        and Servicer Representations.

       

      The
        Seller and the Servicer hereby represent and warrant to the Purchaser that,
        as
        to itself as of the related Closing Date:

      

      (a)  It
        is a
        national banking association, duly organized, validly existing, and in good
        standing under the laws of the United States and has all licenses necessary
        to
        carry on its business as now being conducted and is licensed, qualified and
        in
        good standing in the states where the Mortgaged Property is located if the
        laws
        of such state require licensing or qualification in order to conduct business
        of
        the type conducted by it. It is an approved seller/servicer in good standing
        of
        conventional residential mortgage loans for Fannie Mae or Freddie Mac and
        is a
        HUD-approved mortgagee under Section 203 of the National Housing Act. It
        has corporate power and authority to execute and deliver this Agreement and
        to
        perform in accordance herewith; the execution, delivery and performance of
        this
        Agreement (including all instruments of transfer to be delivered pursuant
        to
        this Agreement) by it and the consummation of the transactions contemplated
        hereby have been duly and validly authorized. This Agreement, assuming due
        authorization, execution and delivery by the Purchaser, evidences the legal,
        valid, binding and enforceable obligation of it, subject to applicable law
        except as enforceability may be limited by (i) bankruptcy, insolvency,
        liquidation, receivership, moratorium, reorganization or other similar laws
        affecting the enforcement of the rights of creditors and (ii) general
        principles of equity, whether enforcement is sought in a proceeding in equity
        or
        at law. All requisite corporate action has been taken by it to make this
        Agreement valid and binding upon it in accordance with the terms of this
        Agreement.

       

      (b)  No
        consent, approval, authorization or order is required for the transactions
        contemplated by this Agreement from any court, governmental agency or body,
        or
        federal or state regulatory authority having jurisdiction over it or, if
        required, such consent, approval, authorization or order has been or will,
        prior
        to the related Closing Date, be obtained.

       

      (c)  The
        consummation of the transactions contemplated by this Agreement are in its
        ordinary course of business and will not result in the breach of any term
        or
        provision of its charter or by-laws or result in the breach of any term or
        provision of, or conflict with or constitute a default under or result in
        the
        acceleration of any obligation under, any agreement, indenture or loan or
        credit
        agreement or other instrument to which it or its property is subject, or
        result
        in the violation of any law, rule, regulation, order, judgment or decree
        to
        which it or its property is subject.

       

      (d)  Its
        transfer, assignment and conveyance of the Mortgage Notes and the Mortgages
        pursuant to this Agreement are not subject to the bulk transfer or any similar
        statutory provisions in effect in any applicable jurisdiction.

       

      (e)  There
        is
        no action, suit, proceeding or investigation pending or, to its best knowledge,
        threatened against it which, either individually or in the aggregate, would
        result in any material adverse change in its business, operations, financial
        condition, properties or assets, or in any material impairment of its right
        or
        ability to carry on its business substantially as now conducted or which
        would
        draw into question the validity of this Agreement or the Mortgage Loans or
        of
        any action taken or to be taken in connection with its obligations contemplated
        herein, or which would materially impair its ability to perform under the
        terms
        of this Agreement.

       

      (f)  It
        does
        not believe, nor does it have any reason or cause to believe, that it cannot
        perform each and every covenant contained in this Agreement.

       

      (g)  It
        acknowledges and agrees that the Servicing Fee shall be treated by the Servicer,
        for accounting and tax purposes, as compensation for the servicing and
        administration of the Mortgage Loans pursuant to this Agreement.

       

      (h)  It
        has
        determined that the disposition of the Mortgage Loans pursuant to this Agreement
        will be afforded sale treatment for accounting and tax purposes.

       

      (i)  It
        is
        solvent and the sale of the Mortgage Loans will not cause it to become
        insolvent. The sale of the Mortgage Loans is not undertaken with the intent
        to
        hinder, delay or defraud any of its creditors.

       

      (j)  It
        has
        not dealt with any broker, investment banker, agent or other person that
        may be
        entitled to any commission or compensation in connection with the sale of
        the
        Mortgage Loans.

       

      Subsection
        7.03   Remedies
        for Breach of Representations and Warranties.

       

      It
        is
        understood and agreed that the representations and warranties set forth in
        Subsections 7.01 and 7.02 shall survive the sale of the Mortgage Loans to
        the Purchaser and shall inure to the benefit of the Purchaser, notwithstanding
        any restrictive or qualified endorsement on any Mortgage Note or Assignment
        of
        Mortgage or the examination or lack of examination of any Mortgage File.
        Upon
        discovery by the Seller, the Servicer or the Purchaser of a breach of any
        of the
        foregoing representations and warranties which materially and adversely affects
        the value of the Mortgage Loans or the interest of the Purchaser therein
        (or
        which materially and adversely affects the interest of the Purchaser in or
        the
        value of the related Mortgage Loan in the case of a representation and warranty
        relating to a particular Mortgage Loan), the party discovering such breach
        shall
        give prompt written notice to the others.

       

      Within
        sixty (60) days after the earlier of either discovery by or notice to
        either the Seller or the Servicer of any breach of a representation or warranty
        which materially and adversely affects the value of a Mortgage Loan or the
        Mortgage Loans or the interest of the Purchaser therein, the Seller or the
        Servicer, as the case may be, shall use its best efforts promptly to cure
        such
        breach in all material respects and, if such breach cannot be cured within
        ninety (90) days after the discovery or notice of the breach, the Seller
        shall,
        at the Purchaser’s option, repurchase such Mortgage Loan or Mortgage Loans at
        the Repurchase Price. However, the Seller may, at its option, with the
        Purchaser’s prior approval, such approval not to be withheld unreasonably, and
        assuming that the Seller has a Substitute Mortgage Loan, rather than repurchase
        the Mortgage Loan as provided above, remove such Mortgage Loan and substitute
        in
        its place a Substitute Mortgage Loan or Substitute Mortgage Loans; provided,
        however,
        that
        any such substitution shall be effected within two (2) years after the
        related Closing Date. If the Seller has no Substitute Mortgage Loan, it shall
        repurchase the deficient Mortgage Loan. Any repurchase of a Mortgage Loan
        pursuant to the foregoing provisions of this Subsection 7.03 shall occur on
        a date designated by the Purchaser and shall be accomplished by the Seller
        remitting by wire transfer to the Purchaser the amount of the related Repurchase
        Price.

       

      At
        the
        time of repurchase of any deficient Mortgage Loan (or removal of any Deleted
        Mortgage Loan), the Purchaser and the Seller shall arrange for the assignment
        of
        the repurchased Mortgage Loan (or Deleted Mortgage Loan) to the Seller or
        its
        designee and the delivery to the Seller of any documents held by the Purchaser
        relating to the repurchased Mortgage Loan in the manner required by this
        Agreement with respect to the purchase and sale of such Mortgage Loan on
        the
        related Closing Date. In the event a deficient Mortgage Loan is repurchased,
        the
        Seller shall, simultaneously with its remittance to the Purchaser of such
        related Repurchase Price, give written notice to the Purchaser that such
        repurchase has taken place. Upon such repurchase, the related Mortgage Loan
        Schedule shall simultaneously be amended to reflect the withdrawal of the
        repurchased Mortgage Loan from this Agreement.

       

      As
        to any
        Deleted Mortgage Loan for which the Seller substitutes one or more Substitute
        Mortgage Loans, the Seller shall effect such substitution by delivering to
        the
        Purchaser for each Substitute Mortgage Loan the Mortgage Note, the Mortgage,
        the
        Assignment of Mortgage and such other documents and agreements as are required
        by Subsection 6.03. The Seller shall remit to the Servicer for distribution
        the Monthly Payment due on each Substitute Mortgage Loan in the month following
        the date of such substitution. Monthly Payments due with respect to Substitute
        Mortgage Loans in the month of substitution will be retained by the Seller.
        For
        the month of substitution, distributions to the Purchaser will include the
        Monthly Payment due on such Deleted Mortgage Loan in the month of substitution,
        and the Seller shall thereafter be entitled to retain all amounts subsequently
        received by it in respect of such Deleted Mortgage Loan. The Seller shall
        give
        written notice to the Purchaser that such substitution has taken place and
        shall
        amend the related Mortgage Loan Schedule to reflect the removal of such Deleted
        Mortgage Loan from the terms of this Agreement and the substitution of the
        Substitute Mortgage Loan. Upon such substitution, each Substitute Mortgage
        Loan
        shall be subject to the terms of this Agreement in all respects, and the
        Seller
        shall be deemed to have made with respect to such Substitute Mortgage Loan,
        as
        of the date of substitution, the covenants, representations and warranties
        set
        forth in Subsections 7.01 and 7.02.

       

      For
        any
        month in which the Seller substitutes one or more Substitute Mortgage Loans
        for
        one or more Deleted Mortgage Loans, the Seller will determine the amount
        (if
        any) by which the aggregate principal balance of all such Substitute Mortgage
        Loans as of the date of substitution is less than the aggregate Stated Principal
        Balance of all such Deleted Mortgage Loans (after application of scheduled
        principal payments due in the month of substitution). The amount of such
        shortfall, plus an amount equal to the aggregate of any Servicing Advances
        made
        with respect to such Deleted Mortgage Loans, shall be remitted to the Servicer
        by the Seller for distribution by the Servicer in the month of
        substitution.

       

      In
        addition to such cure, repurchase and substitution obligations, the Seller
        or
        the Servicer shall indemnify the Purchaser and hold it harmless against any
        out-of-pocket losses, penalties, fines, forfeitures, reasonable and necessary
        legal fees and related costs, judgments, settlements and other costs and
        expenses resulting from any claim, demand, defense or assertion by any third
        party that is based on or grounded upon, or resulting from, a breach of the
        Seller or the Servicer, as applicable, representations and warranties contained
        in this Agreement; provided,
        however,
        indemnification shall not be available for any economic losses of the Purchaser
        due to reinvestment losses, loss of investment income or any other special,
        indirect or consequential losses or damages.

       

      No
        action
        may be brought against the Seller
        or the
        Servicer, as applicable, relating
        to or arising out of the breach of any representations and warranties made
        in
        Subsections 7.01 or 7.02 with respect to any Mortgage Loan unless and until
        (i) discovery of such breach by the Purchaser or notice thereof by the
        Seller or the Servicer to Purchaser, (ii) failure by the Seller
or
        the
        Servicer, as applicable, to
        cure
        such breach, repurchase such Mortgage Loan as specified above, substitute
        a
        Substitute Mortgage Loan for such Mortgage Loan as specified above and/or
        indemnify the Purchaser and (iii) demand upon the Seller or
        the
        Servicer, as applicable, by
        the
        Purchaser for compliance with the terms of this Agreement.

       

      It
        is
        understood and agreed that the obligations of the Seller or
        the
        Servicer, as applicable, set
        forth
        in this Subsection 7.03 to cure, repurchase or substitute for a defective
        Mortgage Loan and/or to indemnify the Purchaser constitute the sole remedies
        of
        the Purchaser respecting a breach of the representations and warranties set
        forth in Subsections 7.01 and 7.02.

      

      Subsection
        7.04   Repurchase
        of Certain Prepaid or Converted Mortgage Loans.

       

      If
        the
        principal balance due on a Mortgage Loan is paid in full prior to the related
        Closing Date, the Seller shall remit to the Purchaser an amount equal to
        the
        product of (i) the excess of the Purchase Price Percentage over 100%, times
        (ii) the amount of such Principal Prepayment in full. If any Mortgagor
        converts the adjustable Mortgage Interest Rate on any related Convertible
        Mortgage Loan to a fixed Mortgage Interest Rate, the Seller shall repurchase
        that Convertible Mortgage Loan prior to the next scheduled Due Date for such
        Mortgage Loan pursuant to Subsection 7.03.

      

      
        	SECTION
                8.   	
                Closing
                  Conditions.

              

      

       

      The
        closing for the purchase and sale of each Mortgage Loan Package shall take
        place
        on the related Closing Date. The closing shall be either by telephone, confirmed
        by letter or wire as the parties hereto shall agree, or conducted in person,
        at
        such place as the parties hereto shall agree.

       

      The
        closing for each Mortgage Loan Package shall be subject to the satisfaction
        of
        each of the following conditions:

       

      (a)  the
        Seller shall have delivered to the Purchaser the related Mortgage Loan Schedule
        and an electronic data file containing information on a loan-level
        basis;

       

      (b)  all
        of
        the representations and warranties of the Seller
        under
        this Agreement shall be true and correct as of the related Closing Date (or,
        with respect to Subsection 7.01, such other date specified therein) in all
        material respects and no default shall have occurred hereunder which, with
        notice or the passage of time or both, would constitute an Event of Default
        hereunder;

       

      (c)  the
        Purchaser shall have received from the custodian an initial certification
        with
        respect to its receipt of the Mortgage Loan Documents for the related Mortgage
        Loans;

       

      (d)  the
        Purchaser shall have received originals of the related Term Sheet executed
        by
        the Seller and a funding memorandum setting forth the Purchase Price(s),
        and the
        accrued interest thereon, for the Mortgage Loan Package; and

       

      (e)  all
        other
        terms and conditions of this Agreement and the related Term Sheet to be
        satisfied by the Seller
        shall
        have been complied with in all material respects.

       

      Upon
        satisfaction of the foregoing conditions, the Purchaser shall pay to the
        Seller
        on such
        Closing Date the Purchase Price for the related Mortgage Loan Package, plus
        accrued interest pursuant to Section 4 of this Agreement.

      

      
        	SECTION
                9.    	
                [Reserved.]

              

      

       

      
        	SECTION
                10.   	
                Costs.

              

      

       

       

      The
        Seller and the Servicer shall pay any commissions due their salesmen and
        the
        legal fees and expenses of their attorneys. The Purchaser shall pay the cost
        of
        delivering the Mortgage Files to the Purchaser or its designee, the cost
        of
        recording the Assignments of Mortgage, any custodial fees incurred in connection
        with the release of any Mortgage Loan Documents as may be required by the
        servicing activities hereunder and all other costs and expenses incurred
        in
        connection with the sale of the Mortgage Loans by the Seller to the Purchaser,
        including without limitation the Purchaser’s attorneys’ fees.

       

      
        	SECTION
                11.   	
                Administration
                  and Servicing of Mortgage Loans.

              

      

       

      Subsection
        11.01   Servicer
        to Act as Servicer; Subservicing.

       

      The
        Servicer, as an independent contractor, shall service and administer the
        Mortgage Loans in accordance with this Agreement and Customary Servicing
        Procedures and the terms of the Mortgage Notes and Mortgages, and shall have
        full power and authority, acting alone or through subservicers or agents,
        to do
        or cause to be done any and all things in connection with such servicing
        and
        administration which the Servicer may deem necessary or desirable and consistent
        with the terms of this Agreement. The Servicer may perform its servicing
        responsibilities through agents or independent contractors, but shall not
        thereby be released from any of its responsibilities hereunder. Notwithstanding
        anything to the contrary, the Servicer may delegate any of its duties under
        this
        Agreement to one or more of its affiliates without regard to any of the
        requirements of this section; provided,
        however, that
        the
        Servicer shall not be released from any of its responsibilities hereunder
        by
        virtue of such delegation. The Mortgage Loans may be subserviced by one or
        more
        unaffiliated subservicers on behalf of the Servicer provided each subservicer
        is
        a Fannie Mae approved seller/servicer or a Freddie Mac approved seller/servicer
        in good standing, and no event has occurred, including but not limited to
        a
        change in insurance coverage, that would make it unable to comply with the
        eligibility for seller/servicers imposed by Fannie Mae or Freddie Mac, or
        which
        would require notification to Fannie Mae or Freddie Mac. The Servicer shall
        pay
        all fees and expenses of the subservicer from its own funds (provided that
        any
        such expenditures that would constitute Servicing Advances if made by the
        Servicer hereunder shall be reimbursable to the Servicer as Servicing Advances),
        and the subservicer’s fee shall not exceed the Servicing Fee.

       

      At
        the
        cost and expense of the Servicer, without any right of reimbursement from
        the
        Custodial Account, the Servicer shall be entitled to terminate the rights
        and
        responsibilities of a subservicer and arrange for any servicing responsibilities
        to be performed by a successor subservicer meeting the requirements in the
        preceding paragraph; provided,
        however,
        that
        nothing contained herein shall be deemed to prevent or prohibit the Servicer,
        at
        the Servicer’s option, from electing to service the related Mortgage Loans
        itself. If the Servicer’s responsibilities and duties under this Agreement are
        terminated and if requested to do so by the Purchaser, the Servicer shall
        at its
        own cost and expense terminate the rights and responsibilities of the
        subservicer as soon as is reasonably possible. The Servicer shall pay all
        fees,
        expenses or penalties necessary in order to terminate the rights and
        responsibilities of the subservicer from the Servicer’s own funds without
        reimbursement from the Purchaser.

       

      The
        Servicer shall be entitled to enter into an agreement with the subservicer
        for
        indemnification of the Servicer by the subservicer and nothing contained
        in this
        Agreement shall be deemed to limit or modify such indemnification.

       

      Any
        subservicing agreement and any other transactions or services relating to
        the
        Mortgage Loans involving the subservicer shall be deemed to be between the
        subservicer and Servicer alone, and the Purchaser shall have no obligations,
        duties or liabilities with respect to the subservicer including no obligation,
        duty or liability of the Purchaser to pay the subservicer’s fees and expenses.
        For purposes of distributions and advances by the Servicer pursuant to this
        Agreement, the Servicer shall be deemed to have received a payment on a Mortgage
        Loan when the subservicer has received such payment.

       

      Consistent
        with the terms of this Agreement, the Servicer may waive, modify or vary
        any
        term of any Mortgage Loan or consent to the postponement of strict compliance
        with any such term or in any manner grant indulgence to any Mortgagor;
provided,
        however,
        that
        (unless the Mortgagor is in default with respect to the Mortgage Loan, or
        such
        default is, in the judgment of the Servicer, imminent, and the Servicer has
        the
        consent of the Purchaser) the Servicer shall not enter into any payment plan
        or
        agreement to modify payments with a Mortgagor lasting more than six (6)
        months or permit any modification with respect to any Mortgage Loan that
        would
change
        the Mortgage Interest Rate, the Lifetime Rate Cap (if applicable), the Initial
        Rate Cap (if applicable), the Periodic Rate Cap (if applicable) or the Gross
        Margin (if applicable), defer
        or
        forgive the payment of any principal or interest, change the outstanding
        principal amount (except for actual payments of principal), make any future
        advances or extend the final maturity date, as the case may be, with respect
        to
        such Mortgage Loan. Without limiting the generality of the foregoing, the
        Servicer in its own name or acting through subservicers or agents is hereby
        authorized and empowered by the Purchaser when the Servicer believes it
        appropriate and reasonable in its best judgment, to execute and deliver,
        on
        behalf of itself and the Purchaser, all instruments of satisfaction or
        cancellation, or of partial or full release, discharge and all other comparable
        instruments, with respect to the Mortgage Loans and the Mortgaged Properties
        and
        to institute foreclosure proceedings or obtain a deed-in-lieu of foreclosure
        so
        as to convert the ownership of such properties, and to hold or cause to be
        held
        title to such properties, on behalf of the Purchaser pursuant to the provisions
        of Subsection 11.13.

       

      The
        Servicer shall notify the Purchaser of its intention to institute any
        foreclosure proceeding no fewer than ten (10) days prior to initiating such
        proceeding. The Servicer shall notify the Purchaser of its intention to accept
        a
        deed-in-lieu of foreclosure or a partial release of any of the Mortgaged
        Property subject to the lien of the Mortgage no fewer than ten (10) days
        prior to accepting such deed-in-lieu or partial release and shall only accept
        such deed-in-lieu or grant such partial release if the Purchaser has not
        objected before the end of the tenth day after delivery of such notice. In
        connection with any foreclosure sale, the Servicer shall consult with the
        Purchaser with regard to a bid price for the related Mortgaged Property and
        shall set such bid price in accordance with the Purchaser’s instructions.
The
        Servicer shall make all required Servicing Advances and shall service and
        administer the Mortgage Loans in accordance with all applicable laws, rules
        and
        regulations and shall provide to the Mortgagors any reports required to be
        provided to them thereby. The Purchaser shall furnish to the Servicer any
        powers
        of attorney and other documents reasonably necessary or appropriate to enable
        the Servicer to carry out its servicing and administrative duties under this
        Agreement.

       

      Notwithstanding
        anything to the contrary contained herein, in connection with a foreclosure
        or
        acceptance of a deed-in-lieu of foreclosure, if the Servicer has reasonable
        cause to believe that a Mortgaged Property is contaminated by hazardous or
        toxic
        substances or waste, or if the Purchaser otherwise requests an environmental
        inspection or review of such Mortgaged Property, such an inspection or review
        is
        to be conducted by a qualified inspector at the Purchaser’s expense. Upon
        completion of the inspection, the Servicer shall promptly provide the Purchaser
        with a written report of the environmental inspection. After reviewing the
        inspection, the Purchaser shall determine how the Servicer shall proceed
        with
        respect to the Mortgaged Property.

      

      Subsection
        11.02   Liquidation
        of Mortgage Loans.

       

      In
        the
        event that any payment due under any Mortgage Loan is not paid when the same
        becomes due and payable, or in the event the Mortgagor fails to perform any
        other covenant or obligation under the Mortgage Loan and such failure continues
        beyond any applicable grace period, the Servicer shall take such action as
        it
        shall deem to be in the best interest of the Purchaser. In the event that
        any
        payment due under any Mortgage Loan remains delinquent for a period of
        ninety (90) days or more, the Servicer shall commence foreclosure
        proceedings in accordance with Customary Servicing Procedures and the guidelines
        set forth by Fannie Mae or Freddie Mac. In such connection, the Servicer
        shall
        from its own funds make all necessary and proper Servicing Advances. If the
        portion of any Liquidation Proceeds allocable as a recovery of interest on
        any
        Mortgage Loan is less than the full amount of accrued and unpaid interest
        on
        such Mortgage Loan as of the date such proceeds are received, then the
        applicable Servicing Fees with respect to such Mortgage Loan shall be paid
        first
        and any amounts remaining thereafter shall be distributed to the
        Purchaser.

       

      Subsection
        11.03   Collection
        of Mortgage Loan Payments.

       

      Continuously
        from the date hereof until the principal and interest on all Mortgage Loans
        are
        paid in full, the Servicer will proceed diligently, in accordance with this
        Agreement, to collect all payments due under each of the Mortgage Loans when
        the
        same shall become due and payable. Further, the Servicer will in accordance
        with
        Customary Servicing Procedures ascertain and estimate taxes, assessments,
        fire
        and hazard insurance premiums, premiums for Primary Mortgage Insurance Policies,
        and all other charges that, as provided in any Mortgage, will become due
        and
        payable to the end that the installments payable by the Mortgagors will be
        sufficient to pay such charges as and when they become due and
        payable.

      

      Subsection
        11.04   Establishment
        of Custodial Account; Deposits in Custodial Account.

       

      The
        Servicer shall segregate and hold all funds collected and received pursuant
        to
        each Mortgage Loan separate and apart from any of its own funds and general
        assets and shall establish and maintain one or more Custodial Accounts
        (collectively, the “Custodial
        Account”),
        titled “Bank of America, National Association, in trust for EMC Mortgage
        Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such
        Custodial Account shall be established with a commercial bank, a savings
        bank or
        a savings and loan association (which may be a depository affiliate of the
        Servicer) which meets the guidelines set forth by Fannie Mae or Freddie Mac
        as
        an eligible depository institution for custodial accounts. The Custodial
        Account
        shall initially be established and maintained at Bank of America, National
        Association, or any successor thereto, and shall not be transferred to any
        other
        depository institution without the Purchaser’s approval, which shall not
        unreasonably be withheld. In any case, the Custodial Account shall be insured
        by
        the FDIC in a manner which shall provide maximum available insurance thereunder
        and which may be drawn on by the Servicer.

       

      The
        Servicer shall deposit in the Custodial Account on a daily basis, and retain
        therein the following payments and collections received or made by it subsequent
        to the related Cut-off Date (other than in respect of principal and interest
        on
        the Mortgage Loans due on or before the related Cut-off Date):

       

      (a)  all
        payments on account of principal, including Principal Prepayments, on the
        Mortgage Loans;

       

      (b)  all
        payments on account of interest on the Mortgage Loans adjusted to the related
        Mortgage Loan Remittance Rate;

       

      (c)  all
        Liquidation Proceeds;

       

      (d)  all
        proceeds received by the Servicer under any title insurance policy, hazard
        insurance policy, Primary Mortgage Insurance Policy or other insurance policy
        other than proceeds to be held in the Escrow Account and applied to the
        restoration or repair of the Mortgaged Property or released to the Mortgagor
        in
        accordance with Customary Servicing Procedures;

       

      (e)  all
        awards or settlements in respect of condemnation proceedings or eminent domain
        affecting any Mortgaged Property which are not released to the Mortgagor
        in
        accordance with Customary Servicing Procedures;

       

      (f)  any
        amount required to be deposited in the Custodial Account pursuant to
        Subsections 11.15, 11.17 and 11.19;

       

      (g)  any
        amount required to be deposited by the Servicer in connection with any REO
        Property pursuant to Subsection 11.13;

       

      (h)  all
        amounts required to be deposited by the Servicer in connection with shortfalls
        in principal amount of Substitute Mortgage Loans pursuant to
        Subsection 7.03;

       

      (i)  with
        respect to each Principal Prepayment in full, an amount (to be paid by the
        Servicer out of its own funds) which, when added to all amounts allocable
        to
        interest received in connection with the Principal Prepayment in full, equals
        one month’s interest on the amount of principal so prepaid for the month of
        prepayment at the applicable Mortgage Loan Remittance Rate; provided,
        however,
        that the
        Servicer’s aggregate obligations under this paragraph for any month shall be
        limited to the total amount of Servicing Fees actually received with respect
        to
        the Mortgage Loans by the Servicer during such month;

       

      (j)  amounts
        required to be deposited by the Servicer in connection with the deductible
        clause of any hazard insurance policy; and

       

      (k)  any
        BPP
        Mortgage Loan Payments payable by the Servicer pursuant to Subsection
        11.25.

       

      The
        foregoing requirements for deposit in the Custodial Account shall be exclusive,
        it being understood and agreed that, without limiting the generality of the
        foregoing, payments in the nature of late payment charges, assumption fees,
        BPP
        Fees and other ancillary fees need not be deposited by the Servicer in the
        Custodial Account.

       

      The
        Servicer may invest the funds in the Custodial Account in Eligible Investments
        designated in the name of the Servicer for the benefit of the Purchaser,
        which
        shall mature not later than the Business Day next preceding the Remittance
        Date
        next following the date of such investment (except that (A) any investment
        in the institution with which the Custodial Account is maintained may mature
        on
        such Remittance Date and (B) any other investment may mature on such
        Remittance Date if the Servicer shall advance funds on such Remittance Date,
        pending receipt thereof to the extent necessary to make distributions to
        the
        Purchaser) and shall not be sold or disposed of prior to maturity.
        Notwithstanding anything to the contrary herein and above, all income and
        gain
        realized from any such investment shall be for the benefit of the Servicer
        and
        shall be subject to withdrawal by the Servicer. The amount of any losses
        incurred in respect of any such investments shall be deposited in the Custodial
        Account by the Servicer out of its own funds immediately as
        realized.

      

      Subsection
        11.05   Withdrawals
        From the Custodial Account.

       

      The
        Servicer shall, from time to time, withdraw funds from the Custodial Account
        for
        the following purposes:

      

      (a)  to
        make
        payments to the Purchaser in the amounts and in the manner provided for in
        Subsection 11.15;

       

      (b)  to
        reimburse itself for P&I Advances, the Servicer’s right to reimburse itself
        pursuant to this subclause (b) with respect to any Mortgage Loan being
        limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance
        Proceeds and such other amounts as may be collected by the Servicer from
        the
        Mortgagor or otherwise relating to the Mortgage Loan, it being understood
        that,
        in the case of any such reimbursement, the Servicer’s right thereto shall be
        prior to the rights of the Purchaser with respect to such Mortgage Loan,
        except
        that, where the Seller is required to repurchase a Mortgage Loan, pursuant
        to
        Subsection 7.03, the Servicer’s right to such reimbursement shall be
        subsequent to the payment to the Purchaser of the Repurchase Price pursuant
        to
        Subsection 7.03, and all other amounts required to be paid to the Purchaser
        with respect to such Mortgage Loan;

       

      (c)  to
        reimburse itself for any unpaid Servicing Fees and for unreimbursed Servicing
        Advances, the Servicer’s right to reimburse itself pursuant to this
        subclause (c) with respect to any Mortgage Loan being limited to related
        Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such
        other
        amounts as may be collected by the Servicer from the Mortgagor or otherwise
        relating to the Mortgage Loan, it being understood that, in the case of any
        such
        reimbursement, the Servicer’s right thereto shall be prior to the rights of the
        Purchaser unless the Seller is required to repurchase a Mortgage Loan pursuant
        to Subsection 7.03, in which case the Servicer’s right to such
        reimbursement shall be subsequent to the payment to the Purchaser of the
        related
        Repurchase Price pursuant to Subsection 7.03 and all other amounts required
        to be paid to the Purchaser with respect to such Mortgage Loan;

       

      (d)  to
        reimburse itself for unreimbursed Servicing Advances and for unreimbursed
        P&I Advances, to the extent that such amounts are nonrecoverable (as
        certified by the Servicer to the Purchaser in an Officer’s Certificate) by the
        Servicer pursuant to subclause (b) or (c) above, provided that the Mortgage
        Loan for which such advances were made is not required to be repurchased
        by a
        Seller pursuant to Subsection 7.03;

       

      (e)  to
        reimburse itself for expenses incurred by and reimbursable to it pursuant
        to
        Subsection 12.01;

       

      (f)  to
        withdraw amounts to make P&I Advances in accordance with
        Subsection 11.17;

       

      (g)  to
        pay to
        itself any interest earned or any investment earnings on funds deposited
        in the
        Custodial Account, net of any losses on such investments;

       

      (h)  to
        withdraw any amounts inadvertently deposited in the Custodial Account;
        and

       

      (i)  to
        clear
        and terminate the Custodial Account upon the termination of this
        Agreement.

       

       

      Upon
        request, the Servicer shall provide the Purchaser with copies of reasonably
        acceptable invoices or other documentation relating to Servicing Advances
        that
        have been reimbursed from the Custodial Account.

      

      Subsection
        11.06   Establishment
        of Escrow Account; Deposits in Escrow Account.

       

      The
        Servicer shall segregate and hold all funds collected and received pursuant
        to
        each Mortgage Loan which constitute Escrow Payments separate and apart from
        any
        of its own funds and general assets and shall establish and maintain one
        or more
        Escrow Accounts (collectively, the “Escrow
        Account”),
        titled “Bank of America, National Association, in trust for EMC Mortgage
        Corporation as Purchaser of Mortgage Loans and various Mortgagors.” The Escrow
        Account shall be established with a commercial bank, a savings bank or a
        savings
        and loan association (which may be a depository affiliate of Servicer), which
        meets the guidelines set forth by Fannie Mae or Freddie Mac as an eligible
        institution for escrow accounts. The Escrow Account shall initially be
        established and maintained at Bank of America, National Association, or any
        successor thereto, and shall not be transferred to any other depository
        institution without the Purchaser’s approval, which shall not unreasonably be
        withheld. In any case, the Escrow Account shall be insured by the FDIC in
        a
        manner which shall provide maximum available insurance thereunder and which
        may
        be drawn on by the Servicer.

       

      The
        Servicer shall deposit in the Escrow Account on a daily basis, and retain
        therein: (a) all Escrow Payments collected on account of the Mortgage
        Loans, for the purpose of effecting timely payment of any such items as required
        under the terms of this Agreement and (b) all amounts representing proceeds
        of any hazard insurance policy which are to be applied to the restoration
        or
        repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom
        only in accordance with Subsection 11.07 hereof. As part of its servicing
        duties, the Servicer shall pay to the Mortgagors interest on funds in the
        Escrow
        Account, to the extent required by law.

      

      Subsection
        11.07   Withdrawals
        From Escrow Account.

       

      Withdrawals
        from the Escrow Account shall be made by the Servicer only (a) to effect
        timely payments of ground rents, taxes, assessments, premiums for Primary
        Mortgage Insurance Policies, fire and hazard insurance premiums or other
        items
        constituting Escrow Payments for the related Mortgage, (b) to reimburse the
        Servicer for any Servicing Advance made by Servicer pursuant to
        Subsection 11.08 hereof with respect to a related Mortgage Loan,
        (c) to refund to any Mortgagor any funds found to be in excess of the
        amounts required under the terms of the related Mortgage Loan, (d) for
        transfer to the Custodial Account upon default of a Mortgagor or in accordance
        with the terms of the related Mortgage Loan and if permitted by applicable
        law,
        (e) for application to restore or repair of the Mortgaged Property,
        (f) to pay to the Mortgagor, to the extent required by law, any interest
        paid on the funds deposited in the Escrow Account, (g) to pay to itself any
        interest earned on funds deposited in the Escrow Account (and not required
        to be
        paid to the Mortgagor), (h) to the extent permitted under the terms of the
        related Mortgage Note and applicable law, to pay late fees with respect to
        any
        Monthly Payment which is received after the applicable grace period, (i) to
        withdraw suspense payments that are deposited into the Escrow Account,
        (j) to withdraw any amounts inadvertently deposited in the Escrow Account
        or (k) to clear and terminate the Escrow Account upon the termination of
        this Agreement.

      

      Subsection
        11.08   Payment
        of Taxes, Insurance and Other Charges; Collections Thereunder.

       

      With
        respect to each Mortgage Loan, the Servicer shall maintain accurate records
        reflecting the status of ground rents, taxes, assessments and other charges
        which are or may become a lien upon the Mortgaged Property and the status
        of
        premiums for Primary Mortgage Insurance Policies and fire and hazard insurance
        coverage and shall obtain, from time to time, all bills for the payment of
        such
        charges (including renewal premiums) and shall effect payment thereof prior
        to
        the applicable penalty or termination date and at a time appropriate for
        securing maximum discounts allowable, employing for such purpose deposits
        of the
        Mortgagor in the Escrow Account which shall have been estimated and accumulated
        by the Servicer in amounts sufficient for such purposes, as allowed under
        the
        terms of the Mortgage. To the extent that a Mortgage does not provide for
        Escrow
        Payments, the Servicer shall determine that any such payments are made by
        the
        Mortgagor. The Servicer assumes full responsibility for the timely payment
        of
        all such bills and shall effect timely payments of all such bills irrespective
        of each Mortgagor’s faithful performance in the payment of same or the making of
        the Escrow Payments and shall make Servicing Advances to effect such payments,
        subject to its ability to recover such Servicing Advances pursuant to
        Subsections 11.05(c), 11.05(d) and 11.07(b). No costs incurred by the
        Servicer or subservicers in effecting the payment of taxes and assessments
        on
        the Mortgaged Properties shall, for the purpose of calculating remittances
        to
        the Purchaser, be added to the amount owing under the related Mortgage Loans,
        notwithstanding that the terms of such Mortgage Loans so permit.

      

      Subsection
        11.09   Transfer
        of Accounts.

       

      The
        Servicer may transfer the Custodial Account or the Escrow Account to a different
        depository institution. Such transfer shall be made only upon obtaining the
        prior written consent of the Purchaser, such consent not to be unreasonably
        withheld.

      

      Subsection
        11.10   Maintenance
        of Hazard Insurance.

       

      The
        Servicer shall cause to be maintained for each Mortgage Loan fire and hazard
        insurance with extended coverage customary in the area where the Mortgaged
        Property is located by an insurer acceptable to Fannie Mae or Freddie Mac
        in an
        amount which is at least equal to the lesser of (a) the full insurable
        value of the Mortgaged Property or (b) the greater of (i) the
        outstanding principal balance owing on the Mortgage Loan and (ii) an amount
        such that the proceeds of such insurance shall be sufficient to avoid the
        application to the Mortgagor or loss payee of any coinsurance clause under
        the
        policy. If the Mortgaged Property is in an area identified in the Federal
        Register by the Federal Emergency Management Agency as a special flood hazard
        area (and such flood insurance has been made available) the Servicer will
        cause
        to be maintained a flood insurance policy meeting the requirements of the
        National Flood Insurance Program, in an amount representing coverage not
        less
        than the lesser of (A) the minimum amount required under the terms of the
        coverage to compensate for any damage or loss to the Mortgaged Property on
        a
        replacement-cost basis (or the outstanding principal balance of the Mortgage
        Loan if replacement-cost basis is not available) or (B) the maximum amount
        of insurance available under the National Flood Insurance Program. The Servicer
        shall also maintain on REO Property fire and hazard insurance with extended
        coverage in an amount which is at least equal to the maximum insurable value
        of
        the improvements which are a part of such property, liability insurance and,
        to
        the extent required and available under the National Flood Insurance Program,
        flood insurance in an amount required above. Any amounts collected by the
        Servicer under any such policies (other than amounts to be deposited in the
        Escrow Account and applied to the restoration or repair of the property subject
        to the related Mortgage or property acquired in liquidation of the Mortgage
        Loan, or to be released to the Mortgagor in accordance with Customary Servicing
        Procedures) shall be deposited in the Custodial Account, subject to withdrawal
        pursuant to Subsection 11.05. It is understood and agreed that no
        earthquake or other additional insurance need be required by the Servicer
        of any
        Mortgagor or maintained on REO Property other than pursuant to such applicable
        laws and regulations as shall at any time be in force and as shall require
        such
        additional insurance. All policies required hereunder shall be endorsed with
        standard mortgagee clauses with loss payable to Servicer, and shall provide
        for
        at least thirty (30) days prior written notice of any cancellation,
        reduction in amount or material change in coverage to the Servicer. The Servicer
        shall not interfere with the Mortgagor’s freedom of choice in selecting either
        its insurance carrier or agent; provided,
        however,
        that the
        Servicer shall not accept any such insurance policies from insurance companies
        unless such companies are acceptable to Fannie Mae or Freddie Mac and are
        licensed to do business in the state wherein the property subject to the
        policy
        is located.

       

      The
        hazard insurance policies for each Mortgage Loan secured by a unit in a
        condominium development or planned unit development shall be maintained with
        respect to such Mortgage Loan and the related development in a manner which
        is
        consistent with Fannie Mae or Freddie Mac requirements.

      

      Subsection
        11.11   Maintenance
        of Primary Mortgage Insurance Policy; Claims.

       

      With
        respect to each Mortgage Loan with a LTV in excess of 80%, the Servicer shall,
        without any cost to the Purchaser, maintain or cause the Mortgagor to maintain
        in full force and effect a Primary Mortgage Insurance Policy insuring that
        portion of the Mortgage Loan in excess of a percentage in conformance with
        Fannie Mae requirements. The Servicer shall pay or shall cause the Mortgagor
        to
        pay the premium thereon on a timely basis, at least until the LTV of such
        Mortgage Loan is reduced to 80%. In the event that such Primary Mortgage
        Insurance Policy shall be terminated, the Servicer shall obtain from another
        insurer a comparable replacement policy, with a total coverage equal to the
        remaining coverage of such terminated Primary Mortgage Insurance Policy.
        If the
        insurer shall cease to be a qualified insurer, the Servicer shall obtain
        from
        another qualified insurer a replacement Primary Mortgage Insurance Policy.
        The
        Servicer shall not take any action which would result in noncoverage under
        any
        applicable Primary Mortgage Insurance Policy of any loss which, but for the
        actions of the Servicer would have been covered thereunder. In connection
        with
        any assumption or substitution agreement entered into or to be entered into
        pursuant to Subsection 11.18, the Servicer shall promptly notify the
        insurer under the related Primary Mortgage Insurance Policy, if any, of such
        assumption or substitution of liability in accordance with the terms of such
        Primary Mortgage Insurance Policy and shall take all actions which may be
        required by such insurer as a condition to the continuation of coverage under
        such Primary Mortgage Insurance Policy. If such Primary Mortgage Insurance
        Policy is terminated as a result of such assumption or substitution of
        liability, the Servicer shall obtain a replacement Primary Mortgage Insurance
        Policy as provided above.

       

      In
        connection with its activities as servicer, the Servicer agrees to prepare
        and
        present or to assist the Purchaser in preparing and presenting, on behalf
        of
        itself and the Purchaser, claims to the insurer under any Primary Mortgage
        Insurance Policy in a timely fashion in accordance with the terms of such
        Primary Mortgage Insurance Policy and, in this regard, to take such action
        as
        shall be necessary to permit recovery under any Primary Mortgage Insurance
        Policy respecting a defaulted Mortgage Loan. Pursuant to Subsection 11.06,
        any amounts collected by the Servicer under any Primary Mortgage Insurance
        Policy shall be deposited in the Escrow Account, subject to withdrawal pursuant
        to Subsection 11.07.

      

      Subsection
        11.12   Fidelity
        Bond; Errors and Omissions Insurance.

       

      The
        Servicer shall maintain, at its own expense, a blanket Fidelity Bond and
        an
        errors and omissions insurance policy, with broad coverage on all officers,
        employees or other persons acting in any capacity requiring such persons
        to
        handle funds, money, documents or papers relating to the Mortgage Loans.
        These
        policies must insure the Servicer against losses resulting from fraud, theft,
        errors, omissions, negligence, dishonest or fraudulent acts committed by
        the
        Servicer’s personnel, any employees of outside firms that provide data
        processing services for the Servicer, and temporary contract employees or
        student interns. The Fidelity Bond shall also protect and insure the Servicer
        against losses in connection with the release or satisfaction of a Mortgage
        Loan
        without having obtained payment in full of the indebtedness secured thereby.
        No
        provision of this Subsection 11.12 requiring such Fidelity Bond and errors
        and omissions insurance shall diminish or relieve the Servicer from its duties
        and obligations as set forth in this Agreement. The minimum coverage under
        any
        such Fidelity Bond and insurance policy shall be at least equal to the
        corresponding amounts required by Fannie Mae in the Fannie Mae Servicing
        Guide
        or by Freddie Mac in the Freddie Mac Guide, as amended or restated from time
        to
        time, or in an amount as may be permitted to the Servicer by express waiver
        of
        Fannie Mae or Freddie Mac. Upon request of the Purchaser, the Servicer shall
        cause to be delivered to the Purchaser a certified true copy of such Fidelity
        Bond or a certificate evidencing the same with a statement that the Servicer
        shall endeavor to provide written notice to the Purchaser thirty (30) days
        prior
        to modification or any material change.

      

      Subsection
        11.13   Title,
        Management and Disposition of REO Property.

       

      (a)  In
        the
        event that title to the Mortgaged Property is acquired in foreclosure or
        by deed
        in lieu of foreclosure, the deed or certificate of sale shall be taken in
        the
        name of the Purchaser or its nominee.

       

      (b)  The
        Purchaser, by giving notice to the Servicer, may elect to manage and dispose
        of
        all REO Property acquired pursuant to this Agreement by itself. If the Purchaser
        so elects, the Purchaser shall assume control of REO Property at the time
        of its
        acquisition and the Servicer shall forward the related Mortgage File to the
        Purchaser as soon as is practicable. Promptly upon assumption of control
        of any
        REO Property, the Purchaser shall reimburse any related Servicing Advances
        or
        other expenses incurred by the Servicer with respect to that REO
        Property.

       

      (c)  If
        the
        Purchaser has not informed the Servicer that it will manage REO Property,
        the
        provisions of this Subsection 11.13(c) shall apply. The Servicer shall
        cause to be deposited on a daily basis in the Custodial Account all revenues
        received with respect to the conservation of the related REO Property. The
        Servicer shall make distributions as required on each Remittance Date to
        the
        Purchaser of the net cash flow from the REO Property (which shall equal the
        revenues from such REO Property net of the expenses described above and of
        any
        reserves reasonably required from time to time to be maintained to satisfy
        anticipated liabilities for such expenses).

       

      The
        disposition of REO Property shall be carried out by the Servicer. Upon the
        request of the Purchaser, and at the Purchaser’s expense, the Servicer shall
        cause an appraisal of the REO Property to be performed for the
        Purchaser.

       

      The
        Servicer shall either itself or through an agent selected by the Servicer,
        manage, conserve, protect and operate the REO Property in the same manner
        that
        it manages, conserves, protects and operates other foreclosed property for
        its
        own account, and in the same manner that similar property in the same locality
        as the REO Property is managed. The Servicer shall bill the Purchaser for
        such
        costs upon the sale of the REO Property and shall not withdraw funds to cover
        such costs from the Custodial Account.

      

      Subsection
        11.14   Servicing
        Compensation.

       

      As
        compensation for its services hereunder, the Servicer shall be entitled to
        retain the Servicing Fee from interest payments actually collected on the
        Mortgage Loans. Additional servicing compensation in the form of assumption
        fees, late payment charges, prepayment penalties, BPP Fees and other ancillary
        income shall be retained by the Servicer to the extent not required to be
        deposited in the Custodial Account. The Servicer shall be required to pay
        all
        expenses incurred by it in connection with its servicing activities hereunder
        and shall not be entitled to reimbursement therefor except as specifically
        provided for herein.

      

      Subsection
        11.15   Distributions.

       

      On
        each
        Remittance Date the Servicer shall remit by wire transfer of immediately
        available funds to the account designated in writing by the Purchaser of
        record
        on the preceding Record Date (a) all amounts credited to the Custodial
        Account at the close of business on the related Determination Date, net of
        charges against or withdrawals from the Custodial Account pursuant to
        Subsection 11.05(b) through (h), plus (b) all amounts, if any, which
        the Servicer is obligated to distribute pursuant to Subsection 11.17, minus
        (c) any amounts attributable to Principal Prepayments received after the
        end of the calendar month preceding the month in which the Remittance Date
        occurs, minus (d) any amounts attributable to Monthly Payments collected
        but due on a Due Date or Due Dates subsequent to the related Due
        Date.

       

      With
        respect to any remittance received by the Purchaser after the Business Day
        on
        which such payment was due, the Servicer shall pay to the Purchaser interest
        on
        any such late payment at an annual rate equal to the rate of interest as
        is
        publicly announced from time to time at its principal office by Bank of America,
        National Association, or its successor, as its prime lending rate, adjusted
        as
        of the date of each change, plus two percent (2%), but in no event greater
        than the maximum amount permitted by applicable law. Such interest shall
        be paid
        by the Servicer to the Purchaser on the date such late payment is made and
        shall
        cover the period commencing with the Business Day on which such payment was
        due
        and ending with the Business Day immediately preceding the Business Day on
        which
        such payment is made, both inclusive. The payment by the Servicer of any
        such
        interest shall not be deemed an extension of time for payment or a waiver
        of any
        Event of Default by the Servicer.

      

      Subsection
        11.16   Statements
        to the Purchaser.

       

      Not
        later
        than the tenth (10th)
        day of
        the month of each related Remittance Date, the Servicer shall forward to
        the
        Purchaser a statement, substantially in the form of Exhibit
        5
        and
        certified by a Servicing Officer, setting forth on a loan-by-loan basis:
        (a) the amount of the distribution made on such Remittance Date which is
        allocable to principal and allocable to interest; (b) the amount of
        servicing compensation received by the Servicer during the prior calendar
        month;
        and (c) the aggregate Stated Principal Balance of the Mortgage Loans as of
        the last day of the preceding month. Such statement shall also include
        information regarding delinquencies on Mortgage Loans, indicating the number
        and
        aggregate principal amount of Mortgage Loans which are either one (1),
        two (2) or three (3) or more months delinquent and the book value of
        any REO Property. The Servicer shall submit to the Purchaser monthly a
        liquidation report with respect to each Mortgaged Property sold in a foreclosure
        sale as of the related Record Date and not previously reported. Such liquidation
        report shall be incorporated into the remittance report delivered to Purchaser
        in the form of Exhibit 5
        hereto.
        The Servicer shall also provide such information as set forth above to the
        Purchaser in electronic form in the Servicer’s standard format, a copy of which
        has been provided by the Servicer.

       

      The
        Servicer shall prepare and file any and all tax returns, information statements
        or other filings required to be delivered to any governmental taxing authority,
        the Mortgagor or to the Purchaser pursuant to any applicable law with respect
        to
        the Mortgage Loans and the transactions contemplated hereby. In addition,
        the
        Servicer shall provide the Purchaser with such information concerning the
        Mortgage Loans as is necessary for such Purchaser to prepare federal income
        tax
        returns as the Purchaser may reasonably request from time to time.

      

      Subsection
        11.17   Advances
        by the Servicer.

       

      On
        the
        Business Day immediately preceding each related Remittance Date, the Servicer
        shall either (a) deposit in the Custodial Account from its own funds an
        amount equal to the aggregate amount of all Monthly Payments (with interest
        adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage
        Loans during the applicable Due Period and which were delinquent at the close
        of
        business on the immediately preceding Determination Date (each such advance,
        a
“P&I
        Advance”),
        (b) cause to be made an appropriate entry in the records of the Custodial
        Account that amounts held for future distribution have been, as permitted
        by
        this Subsection 11.17, used by the Servicer in discharge of any such
        P&I Advance or (c) make P&I Advances in the form of any combination
        of (a) or (b) aggregating the total amount of advances to be made. Any amounts
        held for future distribution and so used shall be replaced by the Servicer
        by
        deposit in the Custodial Account on or before any future Remittance Date
        if
        funds in the Custodial Account on such Remittance Date shall be less than
        payments to the Purchaser required to be made on such Remittance Date. The
        Servicer’s obligation to make P&I Advances as to any Mortgage Loan will
        continue through the last Monthly Payment due prior to the payment in full
        of a
        Mortgage Loan, or through the last related Remittance Date prior to the
        Remittance Date for the distribution of all other payments or recoveries
        (including proceeds under any title, hazard or other insurance policy, or
        condemnation awards) with respect to a Mortgage Loan; provided,
        however,
        that
        such obligation shall cease if the Servicer, in its good faith judgment,
        determines that such P&I Advances would not be recoverable pursuant to
        Subsection 11.05(d). The determination by the Servicer that a P&I
        Advance, if made, would be nonrecoverable, shall be evidenced by an Officer’s
        Certificate of the Servicer, delivered to the Purchaser, which details the
        reasons for such determination.

      

      Subsection
        11.18   Assumption
        Agreements.

       

      The
        Servicer will use its best efforts to enforce any “due-on-sale” provision
        contained in any Mortgage or Mortgage Note; provided
        that,
        subject to the Purchaser’s prior approval, the Servicer shall permit such
        assumption if so required in accordance with the terms of the Mortgage or
        the
        Mortgage Note. When the Mortgaged Property has been conveyed by the Mortgagor,
        the Servicer will, to the extent it has knowledge of such conveyance, exercise
        its rights to accelerate the maturity of such Mortgage Loan under the
“due-on-sale” clause applicable thereto; provided,
        however,
        the
        Servicer will not exercise such rights if prohibited by law from doing so
        or if
        the exercise of such rights would impair or threaten to impair any recovery
        under the related Primary Mortgage Insurance Policy, if any. In connection
        with
        any such assumption, the outstanding principal amount, the Monthly Payment,
        the
        Mortgage Interest Rate, the Lifetime Rate Cap (if applicable), the Gross
        Margin
        (if applicable), the Initial Rate Cap (if applicable) or the Periodic Rate
        Cap
        (if applicable) of the related Mortgage Note shall not be changed, and the
        term
        of the Mortgage Loan will not be increased or decreased. If an assumption
        is
        allowed pursuant to this Subsection 11.18, the Servicer with the prior
        consent of the issuer of the Primary Mortgage Insurance Policy, if any, is
        authorized to enter into a substitution of liability agreement with the
        purchaser of the Mortgaged Property pursuant to which the original Mortgagor
        is
        released from liability and the purchaser of the Mortgaged Property is
        substituted as Mortgagor and becomes liable under the Mortgage
        Note.

      

      Subsection
        11.19   Satisfaction
        of Mortgages and Release of Mortgage Files.

       

      Upon
        the
        payment in full of any Mortgage Loan, or the receipt by the Servicer of a
        notification that payment in full will be escrowed in a manner customary
        for
        such purposes, the Servicer will obtain the portion of the Mortgage File
        that is
        in the possession of the Purchaser or its designee, prepare and process any
        required satisfaction or release of the Mortgage and notify the Purchaser
        in
        accordance with the provisions of this Agreement. The Purchaser agrees to
        deliver to the Servicer (or cause to be delivered to the Servicer) the original
        Mortgage Note for any Mortgage Loan not later than five (5) Business Days
        following its receipt of a notice from the Servicer that such a payment in
        full
        has been received or that a notification has been received that such a payment
        in full shall be made. Such Mortgage Note shall be held by the Servicer,
        in
        trust, for the purpose of canceling such Mortgage Note and delivering the
        canceled Mortgage Note to the Mortgagor in a timely manner as and to the
        extent
        provided under any applicable federal or state law.

       

      In
        the
        event the Servicer grants a satisfaction or release of a Mortgage without
        having
        obtained payment in full of the indebtedness secured by the Mortgage or should
        the Servicer otherwise prejudice any right the Purchaser may have under the
        mortgage instruments, the Servicer shall remit to the Purchaser the Stated
        Principal Balance of the related Mortgage Loan by deposit thereof in the
        Custodial Account. The Fidelity Bond shall insure the Servicer against any
        loss
        it may sustain with respect to any Mortgage Loan not satisfied in accordance
        with the procedures set forth herein.

      

      Subsection
        11.20   Annual
        Statement as to Compliance.

       

      (a)  The
        Servicer shall deliver to the Purchaser, to any master servicer which is
        master
        servicing any of the Mortgage Loans pursuant to a Securitization or other
        securitization transaction (each, a “Master
        Servicer”)
        and to
        the Sarbanes Certifying Party not later than the earlier of (a) March 15
        of each
        calendar year (other than the calendar year during which the related Closing
        Date occurs) or (b) with respect to any calendar year during which the annual
        report of the entity which is the depositor (or other party responsible for
        filing Form 10-K with the Commission (as defined below)) of the Mortgage
        Loans
        pursuant to a Securitization or other securitization transaction (the
“Depositor”)
        on
        Form 10-K is required to be filed in accordance with the Securities Exchange
        Act
        of 1934, as amended (the “Exchange
        Act”)
        and
        the rules and regulations of the Securities Exchange Commission (the
“Commission”),
        fifteen (15) calendar days before the date on which the Depositor’s annual
        report on Form 10-K is required to be filed in accordance with the Exchange
        Act
        and the rules and regulations of the Commission (or, in each case, if such
        day
        is not a Business Day, the immediately preceding Business Day), an Officer’s
        Certificate stating, as to each signatory thereof, that (i) a review of the
        activities of the Servicer during the preceding year and of performance under
        this Agreement has been made under such officer’s supervision and (ii) to the
        best of such officer’s knowledge, based on such review, the Servicer has
        fulfilled all of its obligations under this Agreement throughout such year,
        or,
        if there has been a default in the fulfillment of any such obligation,
        specifying each such default known to such officer and the nature and status
        thereof.

       

      (b)  With
        respect to any Mortgage Loans that are subject to a Securitization or other
        securitization transaction, not later than the earlier of (a) March 15 of
        each
        calendar year (other than the calendar year during which the Closing Date
        occurs) or (b) with respect to any calendar year during which the Depositor’s
        annual report on Form 10-K is required to be filed in accordance with the
        Exchange Act and the rules and regulations of the Commission, fifteen (15)
        calendar days before the date on which the Depositor’s annual report on Form
        10-K is required to be filed in accordance with the Exchange Act and the
        rules
        and regulations of the Commission (or, in each case, if such day is not a
        Business Day, the immediately preceding Business Day), an officer of the
        Servicer shall execute and deliver an Officer’s Certificate in the form attached
        hereto as Exhibit
        7
        to the
        Sarbanes Certifying Party for the benefit of the Sarbanes Certifying Party
        and
        its officers, directors and affiliates.

       

      (c)  The
        Servicer shall indemnify and hold harmless the Master Servicer and the Sarbanes
        Certifying Party (any such person, an “Indemnified
        Party”)
        from
        and against any losses, damages, penalties, fines, forfeitures, reasonable
        legal
        fees and related costs, judgments and other costs and expenses arising out
        of or
        based upon a breach by the Servicer of its obligations under this Subsection
        11.20 or Subsection 11.21, or the negligence, bad faith or willful misconduct
        of
        the Servicer in connection therewith. If the indemnification provided for
        herein
        is unavailable or insufficient to hold harmless any Indemnified
        Party, then the Servicer agrees that it shall contribute to the amount paid
        or
        payable by the Indemnified Party as a result of the losses, claims, damages
        or
        liabilities of the Indemnified
        Party in such proportion as is appropriate to reflect the relative fault
        of the
        Indemnified Party on the one hand and the Servicer on the other in connection
        with a breach of the Servicer’s obligations under this Subsection 11.20 or
        Subsection 11.21, or the Servicer’s negligence, bad faith or willful misconduct
        in connection therewith.

       

      It
        is
        acknowledged and agreed that each Master Servicer and the Sarbanes Certifying
        Party shall be an express third party beneficiary of the provisions of this
        Subsection 11.20 and shall be entitled independently to enforce the provisions
        of this Subsection 11.20 with respect to any obligations owed to such entity
        as
        if it were a direct party to this Agreement.

      

      Subsection
        11.21   Annual
        Independent Public Accountants’ Servicing Report.

       

      Not
        later
        than the
        earlier of (a) March 15 of each calendar year (other than the calendar year
        during which the related Closing Date occurs) or (b) with respect to any
        calendar year during which the Depositor’s annual report on Form 10-K is
        required to be filed in accordance with the Exchange Act and the rules and
        regulations of the Commission, fifteen (15) calendar days before the date
        on
        which the Depositor’s annual report on Form 10-K is required to be filed in
        accordance with the Exchange Act and the rules and regulations of the Commission
        (or, in each case, if such day is not a Business Day, the immediately preceding
        Business Day),
        the
        Servicer at its expense shall cause a firm of independent public accountants
        which is a member of the American Institute of Certified Public Accountants
        to
        furnish a statement to any Master Servicer and the Sarbanes Certifying Party
        to
        the effect that such firm has
        examined certain documents and records relating to the servicing of residential
        mortgage loans and that, on the basis of such examination conducted
        substantially in compliance with the Uniform Single Attestation Program for
        Mortgage Bankers, such firm confirms that such servicing has been conducted
        in
        compliance with Customary Servicing Procedures except for such significant
        exceptions or errors in records that, in the opinion of such firm, the Uniform
        Single Attestation Program for Mortgage Bankers requires it to report.

      

      
        	Subsection
                11.22   	
                Servicer
                  Shall Provide Access and Information as Reasonably
                  Required.

              

      

       

      The
        Servicer shall provide to the Purchaser, and for any Purchaser insured by
        FDIC
        or NAIC, the supervisory agents and examiners of FDIC and OTS or NAIC, access
        to
        any documentation regarding the Mortgage Loans which may be required by
        applicable regulations. Such access shall be afforded without charge, but
        only
        upon reasonable request, during normal business hours and at the offices
        of the
        Servicer.

       

      In
        addition, the Servicer shall furnish upon request by the Purchaser, during
        the
        term of this Agreement, such periodic, special or other reports or information,
        whether or not provided for herein, as shall be necessary, reasonable and
        appropriate with respect to the purposes of this Agreement and applicable
        regulations. All such reports or information shall be provided by and in
        accordance with all reasonable instructions and directions the Purchaser
        may
        require. The Servicer agrees to execute and deliver all such instruments
        and
        take all such action as the Purchaser, from time to time, may reasonably
        request
        in order to effectuate the purposes and to carry out the terms of this
        Agreement.

      

      Subsection
        11.23   Inspections.

       

       

      The
        Servicer shall inspect the Mortgaged Property as often deemed necessary by
        the
        Servicer to assure itself that the value of the Mortgaged Property is being
        preserved. In addition, if any Mortgage Loan is more than sixty (60) days
        delinquent, the Servicer immediately shall inspect the Mortgaged Property
        and
        shall conduct subsequent inspections in accordance with Customary Servicing
        Procedures or as may be required by the primary mortgage guaranty insurer.
        The
        Servicer shall keep written report of each such inspection and shall provide
        a
        copy of such inspection to the Purchaser upon the request of the
        Purchaser.

      

      Subsection
        11.24   Restoration
        of Mortgaged Property.

       

      The
        Servicer need not obtain the approval of the Purchaser prior to releasing
        any
        Insurance Proceeds
        or
        Condemnation Proceeds to the Mortgagor to be applied to the restoration or
        repair of the Mortgaged Property if such release is in accordance with Customary
        Servicing Procedures. At a minimum, the Servicer shall comply with the following
        conditions in connection with any such release of Insurance Proceeds or
        Condemnation Proceeds:

      

      (a)  the
        Servicer shall receive satisfactory independent verification of completion
        of
        repairs and issuance of any required approvals with respect
        thereto;

       

      (b)  the
        Servicer shall take all steps necessary to preserve the priority of the lien
        of
        the Mortgage, including, but not limited to requiring waivers with respect
        to
        mechanics’ and materialmen’s liens;

       

      (c)  the
        Servicer shall verify that the Mortgage Loan is not in default; and

       

      (d)  pending
        repairs or restoration, the Servicer shall place the Insurance Proceeds or
        Condemnation Proceeds in the Escrow Account.

       

      If
        the
        Purchaser is named as an additional loss payee, the Servicer is hereby empowered
        to endorse any loss draft issued
        in
        respect of such a claim in the name of the Purchaser.

      

      Subsection
        11.25   BPP
        Mortgage Loans.

       

      With
        respect to any BPP Mortgage Loan, the Servicer hereby agrees to deposit in
        the
        Custodial Account and remit to the Purchaser any BPP Mortgage Loan Payment
        due
        pursuant to a BPP Addendum. Any Monthly Covered Amount payable by the Servicer
        pursuant to this Subsection 11.25 shall be remitted to the Purchaser on or
        prior
        to the Remittance Date relating to the Determination Date immediately following
        the Due Date as to which such Monthly Covered Amount relates. Any Total Covered
        Amount payable by the Servicer pursuant to this Subsection 11.25 shall be
        remitted to the Purchaser on or prior to the Remittance Date relating to
        the
        Determination Date in the month following the month in which the cancellation
        to
        which such Total Covered Amount relates occurs. For the avoidance of any
        doubt,
        no duty of the Servicer to remit or advance funds hereunder (including, without
        limitation, Servicing Advances) shall include remittances or advances of
        or with
        respect to BPP Fees. Notwithstanding any provision in this Agreement to the
        contrary, in the event servicing is transferred from the Servicer, the BPP
        Addendum shall be of no further force and effect and the Servicer shall not
        have
        obligations to make BPP Mortgage Loan Payments or otherwise with respect
        to the
        BPP Addendum; provided
        however,
        that
        the Servicer would be required to make any payments required under the BPP
        Addendum with respect to protected events that occur on or prior to the
        effective date of termination as set forth in the BPP Addendum.

      

      

      
        	SECTION
                12.   	
                  The
                  Servicer.

              

      

       

      Subsection
        12.01   Indemnification;
        Third Party Claims.

       

      (a)  The
        Servicer agrees to indemnify and hold harmless the Purchaser against any
        and all
        claims, losses, penalties, fines, forfeitures, legal fees and related costs,
        judgments, and any other costs, fees and expenses that the Purchaser may
        sustain
        in any way related to the failure of the Servicer to service the Mortgage
        Loans
        in compliance with the terms of this Agreement.

       

      (b)  The
        Servicer shall immediately notify the Purchaser if a claim is made by a third
        party with respect to this Agreement or the Mortgage Loans, and the Servicer
        shall assume (with the written consent of the Purchaser) the defense of any
        such
        claim and pay all expenses in connection therewith, including counsel fees.
        If
        the Servicer has assumed the defense of the Purchaser, the Servicer shall
        provide the Purchaser with a written report of all expenses and advances
        incurred by the Servicer pursuant to this Subsection 12.01 and the
        Purchaser shall promptly reimburse the Servicer for all amounts advanced
        by it
        pursuant to the preceding sentence except when the claim in any way relates
        to
        the failure of the Servicer to service the Mortgage Loans in accordance with
        the
        terms of this Agreement.

       

      Subsection
        12.02   Merger
        or Consolidation of the Servicer.

       

      The
        Servicer will keep in full effect its existence, rights and franchises as
        a
        national banking association, and will obtain and preserve its qualification
        to
        do business in each jurisdiction in which such qualification is or shall
        be
        necessary to protect the validity and enforceability of this Agreement or
        any of
        the Mortgage Loans and to perform its duties under this Agreement.

       

      Any
        Person into which the Servicer may be merged or consolidated, or any entity
        resulting from any merger, conversion or consolidation to which the Servicer
        shall be a party, or any Person succeeding to substantially all of the business
        of the Servicer (whether or not related to loan servicing), shall be the
        successor of the Servicer hereunder, without the execution or filing of any
        paper or any further act on the part of any of the parties hereto, anything
        herein to the contrary notwithstanding.

      

      Subsection
        12.03   Limitation
        on Liability of the Servicer and Others.

       

      The
        duties and obligations of the Servicer shall be determined solely by the
        express
        provisions of this Agreement, the Servicer shall not be liable except for
        the
        performance of such duties and obligations as are specifically set forth
        in this
        Agreement and no implied covenants or obligations shall be read into this
        Agreement against the Servicer. Neither the Servicer nor any of the directors,
        officers, employees or agents of the Servicer shall be under any liability
        to
        the Purchaser for any action taken or for refraining from the taking of any
        action in accordance with Customary Servicing Procedures and otherwise in
        good
        faith pursuant to this Agreement or for errors in judgment; provided,
        however,
        that
        this provision shall not protect the Servicer against any liability resulting
        from any breach of any representation or warranty made herein, or from any
        liability specifically imposed on the Servicer herein; and, provided
        further,
        that
        this provision shall not protect the Servicer against any liability that
        would
        otherwise be imposed by reason of the willful misfeasance, bad faith or gross
        negligence in the performance of duties or by reason of reckless disregard
        of
        the obligations or duties hereunder. The Servicer and any director, officer,
        employee or agent of the Servicer may rely on any document of any kind which
        it
        in good faith reasonably believes to be genuine and to have been adopted
        or
        signed by the proper authorities respecting any matters arising hereunder.
        Subject to the terms of Subsection 12.01, the Servicer shall have no
        obligation to appear with respect to, prosecute or defend any legal action
        which
        is not incidental to the Servicer’s duty to service the Mortgage Loans in
        accordance with this Agreement.

      

      Subsection
        12.04   Seller
        and Servicer Not to Resign.

       

      Neither
        the Seller nor the Servicer shall assign this Agreement or resign from the
        obligations and duties hereby imposed on it except by mutual consent of the
        Servicer or the Seller, as the case may be, and the Purchaser or upon the
        determination that the Servicer’s duties hereunder are no longer permissible
        under applicable law and such incapacity cannot be cured by the Servicer.
        Any
        such determination permitting the unilateral resignation of the Servicer
        shall
        be evidenced by an Opinion of Counsel to such effect delivered to the Purchaser,
        which Opinion of Counsel shall be in form and substance acceptable to the
        Purchaser. No such resignation or assignment shall become effective until
        a
        successor has assumed the Servicer’s responsibilities and obligations hereunder
        in accordance with Subsection 14.02.

      

      
        	SECTION
                13.   	
                 Default.

              

      

       

      Subsection
        13.01   Events
        of Default.

       

      In
        case
        one or more of the following Events of Default by the Servicer shall occur
        and
        be continuing:

      

      (a)  any
        failure by the Servicer to remit to the Purchaser any payment required to
        be
        made under the terms of this Agreement which continues unremedied for a period
        of two (2) Business Days after the date upon which written notice of such
        failure, requiring the same to be remedied, shall have been given to the
        Servicer by the Purchaser;

       

      (b)  failure
        by the Servicer to duly observe or perform, in any material respect, any
        other
        covenants, obligations or agreements of the Servicer as set forth in this
        Agreement which failure continues unremedied for a period of thirty (30)
        days after the date on which written notice of such failure, requiring the
        same
        to be remedied, shall have been given to the Servicer by the
        Purchaser;

       

      (c)  a
        decree
        or order of a court or agency or supervisory authority having jurisdiction
        for
        the appointment of a conservator or receiver or liquidator in any insolvency,
        bankruptcy, readjustment of debt, marshalling of assets and liabilities or
        similar proceedings, or for the winding-up or liquidation of its affairs,
        shall
        have been entered against the Servicer and such decree or order shall have
        remained in force, undischarged or unstayed for a period of sixty (60)
        days;

       

      (d)  the
        Servicer shall consent to the appointment of a conservator or receiver or
        liquidator in any insolvency, bankruptcy, readjustment of debt, marshalling
        of
        assets and liabilities or similar proceedings of or relating to the Servicer
        or
        relating to all or substantially all of the Servicer’s property;

       

      (e)  the
        Servicer shall admit in writing its inability to pay its debts as they become
        due, file a petition to take advantage of any applicable insolvency or
        reorganization statute, make an assignment for the benefit of its creditors,
        or
        voluntarily suspend payment of its obligations;

       

      (f)  the
        Servicer shall cease to be qualified to do business under the laws of any
        state
        in which a Mortgaged Property is located, but only to the extent such
        qualification is necessary to ensure the enforceability of each Mortgage
        Loan
        and to perform the Servicer’s obligations under this Agreement; or

       

      (g)  the
        Servicer shall fail to meet the servicer eligibility qualifications of Fannie
        Mae or the Servicer shall fail to meet the servicer eligibility qualifications
        of Freddie Mac;

       

      then,
        and
        in each and every such case, so long as an Event of Default shall not have
        been
        remedied, the Purchaser, by notice in writing to the Servicer, may, in addition
        to whatever rights the Purchaser may have at law or equity to damages, including
        injunctive relief and specific performance, commence termination of all the
        rights and obligations of the Servicer under this Agreement and in and to
        the
        Mortgage Loans and the proceeds thereof. Upon receipt by the Servicer of
        such
        written notice from the Purchaser stating that they intend to terminate the
        Servicer as a result of such Event of Default, all authority and power of
        the
        Servicer under this Agreement, whether with respect to the Mortgage Loans
        or
        otherwise, shall pass to and be vested in the successor appointed pursuant
        to
        Subsection 14.02. Upon written request from the Purchaser, the Servicer
        shall prepare, execute and deliver to a successor any and all documents and
        other instruments, place in such successor’s possession all Mortgage Files and
        do or cause to be done all other acts or things necessary or appropriate
        to
        effect the purposes of such notice of termination, including, but not limited
        to, the transfer and endorsement or assignment of the Mortgage Loans and
        related
        documents to the successor at the Servicer’s sole expense. The Servicer agrees
        to cooperate with the Purchaser and such successor in effecting the termination
        of the Servicer’s responsibilities and rights hereunder, including, without
        limitation, the transfer to such successor for administration by it of all
        amounts which shall at the time be credited by the Servicer to the Custodial
        Account or Escrow Account or thereafter received with respect to the Mortgage
        Loans.

      

      Subsection
        13.02   Waiver
        of Default.

       

      The
        Purchaser may waive any default by the Servicer in the performance of its
        obligations hereunder and its consequences. Upon any waiver of a past default,
        such default shall cease to exist, and any Event of Default arising therefrom
        shall be deemed to have been remedied for every purpose of this Agreement.
        No
        such waiver shall extend to any subsequent or other default or impair any
        right
        consequent thereto except to the extent expressly so waived.

      

      
        	SECTION
                14.   	
                 Termination.

              

      

       

      Subsection
        14.01   Termination.

       

      The
        respective obligations and responsibilities of the Servicer, as servicer,
        shall
        terminate upon (a) the distribution to the Purchaser of the final payment
        or liquidation with respect to the last Mortgage Loan (or advances of same
        by
        the Servicer) or (b) the disposition of all property acquired upon
        foreclosure or deed in lieu of foreclosure with respect to the last Mortgage
        Loan and the remittance of all funds due hereunder. Upon written request
        from
        the Purchaser in connection with any such termination, the Servicer shall
        prepare, execute and deliver, any and all documents and other instruments,
        place
        in the Purchaser’s possession all Mortgage Files, and do or accomplish all other
        acts or things necessary or appropriate to effect the purposes of such notice
        of
        termination, whether to complete the transfer and endorsement or assignment
        of
        the Mortgage Loans and related documents, or otherwise, at the Purchaser’s sole
        expense. The Servicer agrees to cooperate with the Purchaser and such successor
        in effecting the termination of the Servicer’s responsibilities and rights
        hereunder as servicer, including, without limitation, the transfer to such
        successor for administration by it of all cash amounts which shall at the
        time
        be credited by the Servicer to the Custodial Account or Escrow Account or
        thereafter received with respect to the Mortgage Loans.

      

      Subsection
        14.02   Successors
        to the Servicer.

       

      Prior
        to
        the termination of the Servicer’s responsibilities and duties under this
        Agreement pursuant to Subsections 12.04, 13.01 or 14.01, the Purchaser
        shall, (a) succeed to and assume all of the Servicer’s responsibilities,
        rights, duties and obligations under this Agreement or (b) appoint a
        successor which shall succeed to all rights and assume all of the
        responsibilities, duties and liabilities of the Servicer under this Agreement
        upon such termination. In connection with such appointment and assumption,
        the
        Purchaser may make such arrangements for the compensation of such successor
        out
        of payments on Mortgage Loans as it and such successor shall agree. In the
        event
        that the Servicer’s duties, responsibilities and liabilities under this
        Agreement shall be terminated pursuant to the aforementioned Subsections,
        the
        Servicer shall discharge such duties and responsibilities during the period
        from
        the date it acquires knowledge of such termination until the effective date
        thereof with the same degree of diligence and prudence which it is obligated
        to
        exercise under this Agreement, and shall take no action whatsoever that might
        impair or prejudice the rights or financial condition of its successor. The
        resignation or removal of the Servicer pursuant to the aforementioned
        Subsections shall not become effective until a successor shall be appointed
        pursuant to this Subsection and shall in no event relieve the Seller of the
        representations and warranties made pursuant to Subsections 7.01 and 7.02
        and the remedies available to the Purchaser under Subsection 7.03, it being
        understood and agreed that the provisions of such Subsections 7.01 and 7.02
        shall be applicable to the Seller notwithstanding any such resignation or
        termination of the Servicer, or the termination of this Agreement.

       

      Any
        successor appointed as provided herein shall execute, acknowledge and deliver
        to
        the Servicer and to the Purchaser an instrument accepting such appointment,
        whereupon such successor shall become fully vested with all the rights, powers,
        duties, responsibilities, obligations and liabilities of the Servicer, with
        like
        effect as if originally named as a party to this Agreement. Any termination
        or
        resignation of the Servicer or this Agreement pursuant to
        Subsections 12.04, 13.01 or 14.01 shall not affect any claims that the
        Purchaser may have against the Servicer arising prior to any such termination
        or
        resignation.

       

      The
        Servicer shall promptly deliver to the successor the funds in the Custodial
        Account and Escrow Account and all Mortgage Files and related documents and
        statements held by it hereunder and the Servicer shall account for all funds
        and
        shall execute and deliver such instruments and do such other things as may
        reasonably be required to more fully and definitively vest in the successor
        all
        such rights, powers, duties, responsibilities, obligations and liabilities
        of
        the Servicer.

       

      Upon
        a
        successor’s acceptance of appointment as such, the Servicer shall notify by mail
        the Purchaser of such appointment.

      

      
        	SECTION
                15.   	
                 Notices.

              

      

       

      All
        demands, notices and communications hereunder shall be in writing and shall
        be
        deemed to have been duly given if mailed, by registered or certified mail,
        return receipt requested, or, if by other means, when received by the other
        party at the address as follows:

      

      (a)  if
        to the
        Purchaser:

       

      EMC
        Mortgage Corporation

      Mac
        Arthur Ridge II

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        Texas 75038

      Attention:
        Ms. Raylene Ruyle

       

      (b)  if
        to the
        Seller:

       

      Bank
        of
        America, National Association

      201
        North
        Tryon Street

      Charlotte,
        North Carolina 28255

      Attention:
        Secondary Marketing Manager

       

      (c)  if
        to the
        Servicer:

       

      Bank
        of
        America, National Association

      475
        Crosspoint Parkway

      Getzville,
        New York 14068-9000

      Attention:
        Servicing Manager

       

      or
        such
        other address as may hereafter be furnished to the other party by like notice.
        Any such demand, notice or communication hereunder shall be deemed to have
        been
        received on the date delivered to or received at the premises of the addressee
        (as evidenced, in the case of registered or certified mail, by the date noted
        on
        the return receipt).

      

      
        	SECTION
                16.   	
                 Severability
                  Clause.

              

      

       

      Any
        part,
        provision, representation or warranty of this Agreement which is prohibited
        or
        which is held to be void or unenforceable shall be ineffective to the extent
        of
        such prohibition or unenforceability without invalidating the remaining
        provisions hereof. Any part, provision, representation or warranty of this
        Agreement which is prohibited or unenforceable or is held to be void or
        unenforceable in any jurisdiction shall be ineffective, as to such jurisdiction,
        to the extent of such prohibition or unenforceability without invalidating
        the
        remaining provisions hereof, and any such prohibition or unenforceability
        in any
        jurisdiction as to any Mortgage Loan shall not invalidate or render
        unenforceable such provision in any other jurisdiction. To the extent permitted
        by applicable law, the parties hereto waive any provision of law which prohibits
        or renders void or unenforceable any provision hereof. If the invalidity
        of any
        part, provision, representation or warranty of this Agreement shall deprive
        any
        party of the economic benefit intended to be conferred by this Agreement,
        the
        parties shall negotiate, in good-faith, to develop a structure the economic
        effect of which is nearly as possible the same as the economic effect of
        this
        Agreement without regard to such invalidity.

      

      
        	SECTION
                17.   	
                 No
                  Partnership.

              

      

       

      Nothing
        herein contained shall be deemed or construed to create a co-partnership
        or
        joint venture between the parties hereto and the services of the Servicer
        shall
        be rendered as an independent contractor and not as agent for the
        Purchaser.

      

      
        	SECTION
                18.   	
                 Counterparts.

              

      

       

      This
        Agreement may be executed simultaneously in any number of counterparts. Each
        counterpart shall be deemed to be an original, and all such counterparts
        shall
        constitute one and the same instrument.

      

      
        	SECTION
                19.   	
                 Governing
                  Law.

              

      

       

      EXCEPT
        TO THE EXTENT PREEMPTED BY FEDERAL LAW, THE AGREEMENT SHALL BE CONSTRUED
        IN
        ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS
        AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
        THE
        LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAWS
        PROVISIONS OF NEW YORK OR ANY OTHER JURISDICTION.

      
 

      
        	SECTION
                20.   	
                 Intention
                  of the Parties.

              

      

       

      It
        is the
        intention of the parties that the Purchaser is purchasing, and the Seller
        is
        selling, the Mortgage Loans and not a debt instrument of the Seller or another
        security. Accordingly, the parties hereto each intend to treat the transaction
        for federal income tax purposes as a sale by the Seller, and a purchase by
        the
        Purchaser, of the Mortgage Loans. The Purchaser shall have the right to review
        the Mortgage Loans and the related Mortgage Files to determine the
        characteristics of the Mortgage Loans which shall affect the federal income
        tax
        consequences of owning the Mortgage Loans and the Seller shall cooperate
        with
        all reasonable requests made by the Purchaser in the course of such
        review.

       

       

      It
        is not
        the intention of the parties that such conveyances be deemed a pledge thereof.
        However, in the event that, notwithstanding the intent of the parties, such
        assets are held to be the property of the Seller or if for any other reason
        this
        Agreement is held or deemed to create a security interest in either such
        assets,
        then (a) this Agreement shall be deemed to be a security agreement within
        the meaning of the Uniform Commercial Code of the State of New York and
        (b) the conveyances provided for in this Agreement shall be deemed to be an
        assignment and a grant by the Seller to the Purchaser of a security interest
        in
        all of the assets transferred, whether now owned or hereafter
        acquired.

      

      
        	SECTION
                21.   	
                 Waivers.

              

      

       

      No
        term
        or provision of this Agreement may be waived or modified unless such waiver
        or
        modification is in writing and signed by the party against whom such waiver
        or
        modification is sought to be enforced.

      

      
        	SECTION
                22.   	
                 Exhibits.

              

      

       

      The
        exhibits to this Agreement are hereby incorporated and made a part hereof
        and
        are an integral part of this Agreement.

      

      
        	SECTION
                23.   	
                 General
                  Interpretive Principles.

              

      

       

      For
        purposes of this Agreement, except as otherwise expressly provided or unless
        the
        context otherwise requires:

       

      (a)  the
        terms
        defined in this Agreement have the meanings assigned to them in this Agreement
        and include the plural as well as the singular, and the use of any gender
        herein
        shall be deemed to include the other gender;

       

      (b)  accounting
        terms not otherwise defined herein have the meanings assigned to them in
        accordance with generally accepted accounting principles;

       

      (c)  references
        herein to “Articles,” “Sections,” “Subsections,” “Paragraphs” and other
        subdivisions without reference to a document are to designated Articles,
        Sections, Subsections, Paragraphs and other subdivisions of this
        Agreement;

       

      (d)  reference
        to a Subsection without further reference to a Section is a reference to
        such
        Subsection as contained in the same Section in which the reference appears,
        and
        this rule shall also apply to Paragraphs and other subdivisions;

       

      (e)  the
        words
“herein,” “hereof,” “hereunder” and other words of similar import refer to this
        Agreement as a whole and not to any particular provision; and

       

      (f)  the
        term
“include” or “including” shall mean without limitation by reason of
        enumeration.

      

      
        	SECTION
                24.   	
                 Reproduction
                  of Documents.

              

      

       

      This
        Agreement and all documents relating thereto, including, without limitation
        (a) consents, waivers and modifications which may hereafter be executed,
        (b) documents received by any party at the closing and (c) financial
        statements, certificates and other information previously or hereafter
        furnished, may be reproduced by any photographic, photostatic, microfilm,
        micro-card, miniature photographic or other similar process. The parties
        hereto
        agree that any such reproduction shall be admissible in evidence as the original
        itself in any judicial or administrative proceeding, whether or not the original
        is in existence and whether or not such reproduction was made by a party
        hereto
        in the regular course of business, and that any enlargement, facsimile or
        further reproduction of such reproduction shall likewise be admissible in
        evidence.

      

      
        	SECTION
                25.   	
                 Amendment.

              

      

       

      This
        Agreement may be amended from time to time by the Purchaser, the Seller and
        the
        Servicer by written agreement signed by the parties hereto.

      

      
        	SECTION
                26.   	
                 Confidentiality.

              

      

       

      Each
        of
        the Purchaser, the Seller and the Servicer shall employ proper procedures
        and
        standards designed to maintain the confidential nature of the terms of this
        Agreement, except to the extent (a) the disclosure of which is reasonably
        believed by such party to be required in connection with regulatory requirements
        or other legal requirements relating to its affairs; (b) disclosed to any
        one or more of such party’s employees, officers, directors, agents, attorneys or
        accountants who would have access to the contents of this Agreement and such
        data and information in the normal course of the performance of such person’s
        duties for such party, to the extent such party has procedures in effect
        to
        inform such person of the confidential nature thereof; (c) that is
        disclosed in a prospectus, prospectus supplement or private placement memorandum
        relating to a Securitization of the Mortgage Loans by the Purchaser (or an
        affiliate assignee thereof) or to any person in connection with the resale
        or
        proposed resale of all or a portion of the Mortgage Loans by such party in
        accordance with the terms of this Agreement; and (d) that is reasonably
        believed by such party to be necessary for the enforcement of such party’s
        rights under this Agreement.

      

      
        	SECTION
                27.   	
                 Entire
                  Agreement.

              

      

       

      This
        Agreement constitutes the entire agreement and understanding relating to
        the
        subject matter hereof between the parties hereto and any prior oral or written
        agreements between them shall be deemed to have merged herewith.

      

      
        	SECTION
                28.   	
                 Further
                  Agreements;
                  Securitization.

              

      

       

      The
        Seller, the Servicer and the Purchaser each agree to execute and deliver
        to the
        other such reasonable and appropriate additional documents, instruments or
        agreements as may be necessary or appropriate to effectuate the purposes
        of this
        Agreement.

       

       

      The
        Seller and the Servicer each agree to enter into additional documents,
        instruments or agreements as may be necessary to effect one or more
        Securitizations of the Mortgage Loans. The parties also agree that the
        provisions of this Agreement may be altered in a manner reasonably acceptable
        to
        the Servicer if necessary to effect a Securitization (including, but not
        limited
        to, any changes required (i) to satisfy Rating Agency requirements or
        (ii) to qualify for treatment as one or more real estate mortgage
        investment conduits). All reasonable out of pocket costs actually incurred
        by
        the Seller and the Servicer, including reasonable attorney’s fees and
        accountant’s fees (such attorney’s and accountant’s fees not to exceed $20,000),
        in connection with performing its obligations under this Section 28 with
        respect
        to a Securitization shall be reimbursed by the Purchaser upon demand
        therefor.

      

      
        	SECTION
                29.   	
                 Successors
                  and Assigns.

              

      

       

      This
        Agreement shall bind and inure to the benefit of and be enforceable by the
        initial Purchaser, the Seller and the Servicer, and the respective successors
        and assigns of the Purchaser, the Seller and the Servicer. The initial Purchaser
        and any subsequent purchasers may assign this Agreement to any Person to
        whom
        any Mortgage Loan is transferred pursuant to a sale or financing upon prior
        written notice to the Servicer in accordance with the following paragraph;
        provided,
        however,
        that the
        Servicer shall not be required to service the Mortgage Loans for more than
        three (3) Persons for assignees of EMC Mortgage Corporation or its
        respective affiliates at any time and shall not recognize any assignment
        of this
        Agreement to the extent that following such assignment more than such number
        of
        Persons would be purchasers hereunder. As used herein, the trust formed in
        connection with a Securitization shall be deemed to constitute a single
“Person.” Upon any such assignment and written notice thereof to the Servicer,
        the Person to whom such assignment is made shall succeed to all rights and
        obligations of the Purchaser under this Agreement to the extent of the related
        Mortgage Loan or Mortgage Loans and this Agreement, to the extent of the
        related
        Mortgage Loan or Mortgage Loans, shall be deemed to be a separate and distinct
        agreement between the Servicer and such purchaser, and a separate and distinct
        agreement between the Servicer and each other purchaser to the extent of
        the
        other related Mortgage Loan or Mortgage Loans.

       

      At
        least
        five (5) Business Days prior to the end of the month preceding the date
        upon which the first remittance is to be made to an assignee of the Purchaser,
        the Purchaser shall provide to the Servicer written notice of any assignment
        setting forth: (a) the Servicer’s applicable Mortgage Loan identifying
        number for each of the Mortgage Loans affected by such assignment; (b) the
        aggregate scheduled transfer balance of such Mortgage Loans; and (c) the
        full name, address and wiring instructions of the assignee and the name and
        telephone number of an individual representative for such assignee, to whom
        the
        Servicer should: (i) send remittances; (ii) send any notices required
        by or provided for in this Agreement; and (iii) deliver any legal documents
        relating to the Mortgage Loans (including, but not limited to, contents of
        any
        Mortgage File obtained after the effective date of any assignment).

       

      If
        the
        Purchaser has not provided the notice of assignment required by this
        Section 29, the Servicer shall not be required to treat any other Person as
        a “Purchaser” hereunder and may continue to treat the Purchaser which purports
        to assign the Agreement as the “Purchaser” for all purposes of this
        Agreement.

      

      
        	SECTION
                30.   	
                 Non-Solicitation.

              

      

       

      From
        and
        after the Closing Date, the Seller, the Servicer and any of their respective
        affiliates hereby agrees that it will not take any action or permit or cause
        any
        action to be taken by any of its agents or affiliates, or by any independent
        contractors on its behalf, to personally, by telephone or mail, solicit a
        Mortgagor under any Mortgage Loan for the purpose of refinancing a Mortgage
        Loan, in whole or in part, without the prior written consent of the Purchaser.
        It is understood and agreed that all rights and benefits relating to the
        solicitation of any Mortgagors and the attendant rights, title and interest
        in
        and to the list of such Mortgagors and data relating to their Mortgages
        (including insurance renewal dates) shall be transferred to the Purchaser
        pursuant hereto on the Closing Date and none of the Seller, the Servicer
        or any
        of their respective affiliates shall take any action to undermine these rights
        and benefits.

      

      Notwithstanding
        the foregoing, it is understood and agreed that the Seller, the Servicer
        or any
        of their respective affiliates:

      

      (a)  may
        advertise its availability for handling refinancings of mortgages in its
        portfolio, including the promotion of terms it has available for such
        refinancings, through the sending of letters or promotional material, so
        long as
        it does not specifically target Mortgagors and so long as such promotional
        material either is sent to the mortgagors for all of the mortgages in the
        A-quality servicing portfolio of the Seller, the Servicer and any of their
        affiliates (those it owns as well as those serviced for others) or sent to
        all
        of the mortgagors who have specific types of mortgages (such as FHA, VA,
        conventional fixed-rate or conventional adjustable-rate, or sent to those
        mortgagors whose mortgages fall within specific interest rate
        ranges;

       

      (b)  may
        provide pay-off information and otherwise cooperate with individual mortgagors
        who contact it about prepaying their mortgages by advising them of refinancing
        terms and streamlined origination arrangements that are available;
        and

       

      (c)  may
        offer
        to refinance a Mortgage Loan made within thirty (30) days following receipt
        by it of a pay-off request from the related Mortgagor.

       

      Promotions
        undertaken by the Seller or the Servicer or by any affiliate of the Seller
        or
        the Servicer which are directed to the general public at large (including,
        without limitation, mass mailing based on commercially acquired mailing lists,
        newspaper, radio and television advertisements), shall not constitute
        solicitation under this Section 30.

      

      
        	SECTION
                31.   	
                Protection
                  of Consumer Information.

              

      

       

      The
        Purchaser agrees that the Purchaser (i) shall comply with any applicable
        laws
        and regulations regarding the privacy and security of Consumer Information,
        (ii)
        shall not use Consumer Information in any manner inconsistent with any
        applicable laws and regulations regarding the privacy and security of Consumer
        Information, (iii) shall not disclose Consumer Information to third parties
        except at the specific written direction of the Seller or the Servicer, (iv)
        shall maintain adequate physical, technical and administrative safeguards
        to
        protect Consumer Information from unauthorized access and (v) shall immediately
        notify the Seller of any actual or suspected breach of the confidentiality
        of
        Consumer Information.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      The
        Purchaser agrees that the Purchaser shall indemnify, defend and hold the
        Seller
        and the Servicer harmless from and against any loss, claim or liability the
        Seller or the Servicer may suffer by reason of the Purchaser’s failure to
        perform the obligations set forth in this Section 31.

       

      

       

      [SIGNATURES
        ON FOLLOWING PAGE]

       

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the Purchaser, the Seller and the Servicer have caused their
        names to be signed hereto by their respective officers thereunto duly authorized
        on the date first above written.

      

       

      EMC
        MORTGAGE CORPORATION,

      as
        Purchaser

      

       

      By: _______________________________________

      Name: _______________________________________

      Title: _______________________________________

       

      

       

      BANK
        OF
        AMERICA, NATIONAL ASSOCIATION,

      as
        Seller
        and as Servicer

      

       

      By: _______________________________________

      Name: _______________________________________

      Title: _______________________________________

      

       

      

       

      [Signature
        page to Amended and Restated Flow Mortgage Loan Sale and Servicing Agreement,
        dated as of April 1, 2005]

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        1

       

      MORTGAGE
        LOAN DOCUMENTS

       

      

       

      With
        respect to each Mortgage Loan, the Mortgage Loan Documents shall consist
        of the
        following:

       

      (a)  the
        original Mortgage Note bearing all intervening endorsements, endorsed in
        blank
        and signed in the name of the Seller by an officer thereof, together with
        any
        applicable original BPP Addendum, or, if the original Mortgage Note has been
        lost or destroyed, a lost note affidavit substantially in the form of
Exhibit
        4
        hereto;

       

      (b)  the
        original Assignment of Mortgage with assignee’s name left blank;

       

      (c)  the
        original of any guarantee executed in connection with the Mortgage
        Note;

       

      (d)  the
        original Mortgage with evidence of recording thereon, or if any such mortgage
        has not been returned from the applicable recording office or has been lost,
        or
        if such public recording office retains the original recorded mortgage, a
        photocopy of such mortgage certified by the Seller to be a true and complete
        copy of the original recorded mortgage;

       

      (e)  the
        originals of all assumption, modification, consolidation or extension
        agreements, if any, with evidence of recording thereon;

       

      (f)  the
        originals of all intervening assignments of mortgage with evidence of recording
        thereon, or if any such intervening assignment of mortgage has not been returned
        from the applicable recording office or has been lost or if such public
        recording office retains the original recorded assignments of mortgage, a
        photocopy of such intervening assignment of mortgage, certified by the Seller
        to
        be a true and complete copy of the original recorded intervening assignment
        of
        mortgage;

       

      (g)  (i)
        the
        original mortgagee title insurance policy including an Environmental Protection
        Agency Endorsement and, with respect to any Adjustable Rate Mortgage Loan,
        an
        adjustable-rate endorsement, (ii) with respect to certain Refinanced Mortgage
        Loans, a title search report or other evidence of title [or (iii) in the
        case of
        any jurisdiction where title insurance polices are generally not available,
        an
        opinion of counsel of the type customarily rendered in such jurisdictions
        in
        lieu of title insurance];

       

      (h)  the
        original of any security agreement, chattel mortgage or equivalent document
        executed in connection with the Mortgage; and

       

      (i)  a
        copy of
        any applicable power of attorney.

       

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        2

       

       

      CONTENTS
        OF EACH MORTGAGE FILE

       

       

      With
        respect to each Mortgage Loan, the Mortgage File shall include each of the
        following items, unless otherwise disclosed to the Purchaser on the data
        tape,
        which shall be available for inspection by the Purchaser and which shall
        be
        retained by the Servicer or delivered to the Purchaser:

       

      (a)  Copies
        of
        the Mortgage Loan Documents.

       

      (b)  Residential
        loan application.

       

      (c)  Mortgage
        Loan closing statement.

       

      (d)  Verification
        of employment and income, if required.

       

      (e)  Verification
        of acceptable evidence of source and amount of down payment.

       

      (f)  Credit
        report on Mortgagor, in a form acceptable to either Fannie Mae or Freddie
        Mac.

       

      (g)  Residential
        appraisal report.

       

      (h)  Photograph
        of the Mortgaged Property.

       

      (i)  Survey
        of
        the Mortgaged Property, unless a survey is not required by the title
        insurer.

       

      (j)  Copy
        of
        each instrument necessary to complete identification of any exception set
        forth
        in the exception schedule in the title policy, i.e., map or plat, restrictions,
        easements, home owner association declarations, etc.

       

      (k)  Copies
        of
        all required disclosure statements.

       

      (l)  If
        applicable, termite report, structural engineer’s report, water potability and
        septic certification.

       

      (m)  Sales
        Contract, if applicable.

       

      (n)  The
        Primary Mortgage Insurance policy or certificate of insurance or electronic
        notation of the existence of such policy, where required pursuant to the
        Agreement.

       

      (o)  Evidence
        of electronic notation of the hazard insurance policy, and, if required by
        law,
        evidence of the flood insurance policy.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        3

       

       

      UNDERWRITING
        GUIDELINES

       

       

      [ON
        FILE
        WITH THE PURCHASER]

       

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        4

       

       

      FORM
        OF
        LOST NOTE AFFIDAVIT

       

      

      

      ________________________________________,
        being first duly sworn upon oath deposes and states:

      

      That
        he/she is authorized by Bank of America, National Association (“B of A”) to
        execute this Lost Note Affidavit on behalf of B of A. Notwithstanding anything
        contained herein, he/she shall have no personal liability pursuant to this
        Lost
        Note Affidavit.

      

      That
        the
        note dated ______________, executed by _______________ in the original principal
        sum of $____________, payable to the order of __________________ and secured
        by
        a mortgage (or deed of trust or other instrument creating a lien securing
        the
        Note (as defined below)) of even date on premises commonly known as
        ________________________________ ____________________________, a copy of
        which
        is attached hereto as Exhibit
        A
        (the
“Note”) was lost and /or destroyed and the affiant herein has no knowledge of
        the location or whereabouts of said Note and said Note has not been paid,
        satisfied, transferred, assigned, pledged, or hypothecated in any
        way.

      

      NOW
        THEREFORE,
        for and
        in consideration of _______________and its successors and/or assigns, accepting
        a certified copy of the Note identified on Exhibit “A” in lieu of the original
        Note, B of A does hereby agree to defend, indemnify and hold harmless __________
        _______________ its respective transferees, and their respective assigns
        (the
“Indemnified”) from and against any and all loss or damage, together with all
        reasonable costs, charges and expenses (whether or not a lawsuit is filed)
        (collectively, the “Loss”) incurred as a result of the inability to enforce the
        Note in accordance with its terms due to the lack of an original Note or
        incurred by reason of any claim, demand, suit, cause of action or proceeding
        by
        a third party arising out of the Indemnified’s inability to enforce the Note
        according to its terms or the inability to receive any related insurance
        proceeds due to the lack of an original Note by a third party. B of A shall
        pay
        any such Loss upon demand provided that B of A is notified of any such Loss
        in
        writing, after __________ or transferee becomes aware of same, at the following
        address: Bank of America, 201 North Tryon Street, 5th Floor, Charlotte, North
        Carolina 28255; Attention: Secondary Marketing Manager; with copy to
        _______________________; Attention: ________________. B of A does hereby
        further
        agree that should the original Note ever be found by it, it will promptly
        notify
        _________________ or its respective transferees, or their respective assigns,
        as
        applicable, and upon receipt by B of A of the original Note, will endorse
        to
        _______________ or its designee or transferee, as applicable, without recourse,
        such original Note and promptly forward said Note to_______________ or its
        designee or transferee, as applicable. Upon receipt to the original Note
        by
        __________________ this indemnification agreement shall become null and void
        as
        to any loss accruing subsequent to _____________ ___________’s receipt of such
        original Note, however, B of A shall remain liable as to any loss accruing
        on or
        prior to __________________’s receipt of such original Note.

      

      Executed
        this _______day of _________________, 200__.

      

      BANK
        OF AMERICA, NATIONAL  ASSOCIATION

      

      

      By:___________________________________

      

      Witness:
         ______________________________

      

      

      Subscribed
        and sworn to before me this _______ day of_________________, 200__.

      

      

      ___________________________________

      Notary
        Public 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        5

       

      FORM
        OF
        MONTHLY REMITTANCE REPORT

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        6

      

      FORM
        OF
        TERM SHEET

      

      

      CLOSING
        DATE: _______________________

      

      This
        Term
        Sheet (this “Term Sheet”), dated as of _______ (the “Closing Date”), confirms
        the sale by Bank of America, National Association (the “Seller”) to EMC Mortgage
        Corporation (the “Purchaser”), and the purchase by the Purchaser from the
        Seller, of the first lien residential mortgage loans on a servicing retained
        basis described on the Mortgage Loan Schedule attached as Schedule I hereto
        (the
“Mortgage Loans”), pursuant to the terms of the Amended and Restated Flow
        Mortgage Loan Sale and Servicing Agreement (the “Flow Sale and Servicing
        Agreement”), dated as of April 1, 2005, by and between the Purchaser and
        the Seller. Capitalized terms that are used herein but are not defined herein
        shall have the respective meanings set forth in the Flow Sale and Servicing
        Agreement. 

      

      For
        good
        and valuable consideration, the receipt and sufficiency of which is hereby
        acknowledged, the Seller does hereby bargain, sell, convey, assign and transfer
        to Purchaser without recourse, except as provided in the Flow Sale and Servicing
        Agreement, and on a servicing retained basis, all right, title and interest
        of
        the Seller in and to each of the Mortgage Loans, together with all documents
        maintained as part of the related Mortgage Files, all Mortgaged Properties
        which
        secure any Mortgage Loan but are acquired by foreclosure, deed in lieu of
        foreclosure after the Cut-off Date or otherwise, all payments of principal
        and
        interest received on the Mortgage Loans after the Cut-off Date, all other
        unscheduled collections collected in respect of the Mortgage Loans after
        the
        Cut-off Date, and all proceeds of the foregoing, subject, however, to the
        rights
        of the Seller under the Flow Sale and Servicing Agreement. 

      

      The
        Seller has delivered to the Purchaser or its designee prior to the date hereof
        the documents with respect to each Mortgage Loan required to be delivered
        under
        the Flow Sale and Servicing Agreement. 

      

      For
        purposes of the Mortgage Loans sold pursuant to this Term Sheet, certain
        terms
        shall be as set forth below:

      

      
        	
                Cut-off
                  Date Principal Balance:

              	
                $_______________________

              
	
                Closing
                  Date:

              	
                _______________________

              
	
                Cut-off
                  Date:

              	
                _______________________

              
	
                Purchase
                  Price Percentage:

              	
                ________%

              
	
                Servicing
                  Fee Rate:

              	
                ________%

              

      

      

      

      [Signatures
        On Following Page]

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      IN
        WITNESS
        WHEREOF, the parties hereto, by the hands of their duly authorized officers,
        execute this Term Sheet as of the Closing Date referred to above. 

      

      

      
        	
                EMC
                  MORTGAGE CORPORATION

                as
                  Purchaser

              	
                BANK
                  OF AMERICA, NATIONAL ASSOCIATION

                as
                  Seller

              
	 	 
	 	 
	
                By:
                  _________________________________

              	
                By:
                  __________________________________

              
	 	 
	
                Name:
                  _______________________________

              	
                Name:
                  ________________________________

              
	 	 
	
                Its:
                  __________________________________

              	
                Its:
                  ___________________________________

              
	 	 
	
                By:
                  __________________________________

              	 
	 	 
	
                Name:
                  ________________________________

              	 
	 	 
	
                Its:
                  ___________________________________

              	 

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        7

      

      FORM
        OF
        CERTIFICATION TO BE PROVIDED BY THE SERVICER

      

      I,
        [identify the certifying individual], certify to _______________, and its
        officers, directors, agents and affiliates, and with the knowledge and intent
        that they will rely upon this certification, that:

       

      1. Based
        on
        my knowledge, the information in the Annual Statement of Compliance, the
        Annual
        Independent Public Accountant’s Servicing Report and all servicing reports,
        officer’s certificates and other information relating to the servicing of the
        Mortgage Loans submitted by the Servicer to the Master Servicer taken as
        a whole
        (and as amended or corrected in writing to the Master Servicer), does not
        contain any untrue statement of a material fact or omit to state a material
        fact
        necessary to make the statements made, in light of the circumstances under
        which
        such statements were made, not misleading as of the date of this
        certification;

       

      2. The
        servicing information required to be provided to the Master Servicer by the
        Servicer under the Servicing Agreement has been provided to the Master
        Servicer;

       

      3. I
        am
        responsible for reviewing the activities performed by the Servicer under
        the
        Servicing Agreement and based upon the review required by the Servicing
        Agreement, and except as disclosed in the Annual Statement of Compliance
        or the
        Annual independent Public Accountant’s Servicing Report, the Servicer has, for
        the period covered by the Form 10-K fulfilled its obligation under the Servicing
        Agreement; and

       

      4. The
        Servicer has disclosed to the Servicer’s Certified Public Accountants all
        significant deficiencies relating to the Servicer’s compliance with the minimum
        servicing standards in accordance with a review conducted in compliance with
        the
        Uniform Single Attestation Program for Mortgage Bankers of similar standard
        as
        set forth in the Servicing Agreement.

       

      Capitalized
        terms used but not defined herein have the meanings ascribed to them in the
        Amended and Restated Flow Mortgage Loan Sale and Servicing Agreement, dated
        as
        of April 1, 2005 (the “Servicing Agreement”), between Bank of America, National
        Association and EMC Mortgage Corporation.

       

      BANK
        OF
        AMERICA, NATIONAL ASSOCIATION

       

      By: _______________________________

      Name: _____________________________

      Title: ______________________________

      Date: ______________________________

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    
       

      Execution
        Copy

      
 

      REGULATION
        AB COMPLIANCE ADDENDUM

      TO

      AMENDED
        AND RESTATED FLOW MORTGAGE LOAN SALE AND SERVICING
        AGREEMENT

      (Servicing-retained)

       

      This
        Regulation AB Compliance Addendum (this “Reg
        AB
        Addendum”),
        dated
        as of December 21, 2005, by and between EMC Mortgage Corporation (the
“Purchaser”)
        and
        Bank of America, National Association (the “Company”),
        to
        that certain Amended and Restated Flow Mortgage Loan Sale and Servicing
        Agreement, dated as of April 1, 2005, by and between the Company and the
        Purchaser (as amended, modified or supplemented, the “Agreement”).

       

      WITNESSETH

       

      WHEREAS,
        the Company and the Purchaser have agreed to adopt an addendum to the Agreement
        to reflect the intention of the parties to comply with Regulation
        AB.

       

      NOW,
        THEREFORE, in consideration of the mutual promises and mutual obligations
        set
        forth herein, the Company and the Purchaser hereby agree as
        follows:

       

      ARTICLE
        I

       

      DEFINED
        TERMS

       

      Capitalized
        terms used but not defined herein shall have the meanings assigned to such
        terms
        in the Agreement. The following terms shall have the meanings set forth below,
        unless the context clearly indicates otherwise:

       

      Commission:
        The
        United States Securities and Exchange Commission.

       

      Company
        Information:
        As
        defined in Section 2.07(a).

       

      Depositor:
        With
        respect to any Securitization Transaction, the Person identified in writing
        to
        the Company by the Purchaser as depositor for such Securitization
        Transaction.

       

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

       

      Master
        Servicer:
        With
        respect to any Securitization Transaction, the “master servicer,” if any,
        identified in the related transaction documents.

       

      Qualified
        Correspondent:
        Any
        Person from which the Company purchased Mortgage Loans, provided that the
        following conditions are satisfied: (i) such Mortgage Loans were originated
        pursuant to an agreement between the Company and such Person that contemplated
        that such Person would underwrite mortgage loans from time to time, for sale
        to
        the Company, in accordance with underwriting guidelines designated by the
        Company (“Designated
        Guidelines”)
        or
        guidelines that do not vary materially from such Designated Guidelines; (ii)
        such Mortgage Loans were in fact underwritten as described in clause (i)
        above
        and were acquired by the Company within 180 days after origination; (iii)
        either
        (x) the Designated Guidelines were, at the time such Mortgage Loans were
        originated, used by the Company in origination of mortgage loans of the same
        type as the Mortgage Loans for the Company’s own account or (y) the Designated
        Guidelines were, at the time such Mortgage Loans were underwritten, designated
        by the Company on a consistent basis for use by lenders in originating mortgage
        loans to be purchased by the Company; and (iv) the Company employed, at the
        time
        such Mortgage Loans were acquired by the Company, pre-purchase or post-purchase
        quality assurance procedures (which may involve, among other things, review
        of a
        sample of mortgage loans purchased during a particular time period or through
        particular channels) designed to ensure that Persons from which it purchased
        mortgage loans properly applied the underwriting criteria designated by the
        Company.

       

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

       

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

       

      Securitization
        Transaction:
        Any
        transaction involving either (1) a sale or other transfer of some or all
        of the
        Mortgage Loans directly or indirectly by the Purchaser to an issuing entity
        in
        connection with an issuance of publicly offered or privately placed, rated
        or
        unrated mortgage-backed securities or (2) an issuance of publicly offered
        or
        privately placed, rated or unrated securities, the payments on which are
        determined primarily by reference to one or more portfolios of residential
        mortgage loans consisting, in whole or in part, of some or all of the Mortgage
        Loans.

       

      Servicer:
        As
        defined in Section 2.03(c).

       

      Servicing
        Criteria:
        As
        of any
        date of determination, the“servicing
        criteria” set forth in Item 1122(d) of Regulation AB, or
        any
        amendments thereto, a summary of the requirements of which as of the date
        hereof
        is attached hereto as Exhibit F for convenience of reference only. In the
        event
        of a conflict or inconsistency between the terms of Exhibit F and the text
        of
        Item 1122(d) of Regulation AB, the text of Item 1122(d) of Regulation AB
        shall
        control (or those Servicing Criteria otherwise mutually agreed to by the
        Purchaser, the Company and any Person that will be responsible for signing
        any
        Sarbanes Certification with respect to a Securitization Transaction in response
        to evolving interpretations of Regulation AB and incorporated into a revised
        Exhibit F).

       

      Sponsor:
        With
        respect to any Securitization Transaction, the Person identified in writing
        to
        the Company by the Purchaser as sponsor for such Securitization
        Transaction.

       

      Static
        Pool Information:
        Static
        pool information as described in Item 1l05(a)(l)-(3) and 1105(c) of Regulation
        AB.

       

      Subcontractor:
        Any
        vendor, subcontractor or other Person that is not responsible for the overall
        servicing (as “servicing” is commonly understood by participants in the
        mortgage-backed securities market) of Mortgage Loans but performs one or
        more
        discrete functions identified in Item l122(d) of Regulation AB with respect
        to
        Mortgage Loans under the direction or authority of the Company or a
        Subservicer.

       

      Subservicer:
        Any
        Person that services Mortgage Loans on behalf of the Company or any Subservicer
        and is responsible for the performance (whether directly or through Subservicers
        or Subcontractors) of a substantial portion of the material servicing functions
        identified in Item 1122(d) of Regulation AB that are required to be performed
        by
        the Company under this Agreement or any Reconstitution Agreement.

       

      Third-Party
        Originator:
        Each
        Person, other than a Qualified Correspondent, that originated Mortgage Loans
        acquired by the Company.

       

      Whole
        Loan Transfer:
        Any
        sale or transfer by the Purchaser of some or all of the Mortgage Loans, other
        than a Securitization Transaction.

       

      ARTICLE
        II

      COMPLIANCE
        WITH REGULATION AB

       

      Section
        2.01. Intent
        of the Parties; Reasonableness.

       

      The
        Purchaser and the Company acknowledge and agree that the purpose of Article
        II
        of this Reg AB Addendum is to facilitate compliance by the Purchaser and
        any
        Depositor with the provisions of Regulation AB and related rules and regulations
        of the Commission and that the provisions of this Reg AB Addendum shall be
        applicable to all Mortgage Loans included in a Securitization Transaction
        closing on or after January 1, 2006, regardless whether the Mortgage Loans
        were
        purchased by the Purchaser from the Company prior to the date hereof. Neither
        the Purchaser nor any Depositor shall exercise its right to request delivery
        of
        information or other performance under these provisions other than in good
        faith, or for purposes other than compliance with the Securities Act, the
        Exchange Act and the rules and regulations of the Commission thereunder.
        The
        Company acknowledges that interpretations of the requirements of Regulation
        AB
        may change over time, whether due to interpretive guidance provided by the
        Commission or its staff, consensus among participants in the asset-backed
        securities markets, advice of counsel, or otherwise, and agrees to comply
        with
        reasonable requests made by the Purchaser or any Depositor in good faith
        for
        delivery of information under these provisions on the basis of evolving
        interpretations of Regulation AB. In connection with any Securitization
        Transaction, the Company shall cooperate with the Purchaser to deliver to
        the
        Purchaser (including any of its assignees or designees) and any Depositor,
        any
        and all statements, reports, certifications, records and any other information
        necessary in the good faith determination of the Purchaser or any Depositor
        to
        permit the Purchaser or such Depositor to comply with the provisions of
        Regulation AB, together with such disclosures relating to the Company, any
        Subservicer, any Third-Party Originator and the Mortgage Loans, or the servicing
        of the Mortgage Loans, reasonably believed by the Purchaser or any Depositor
        to
        be necessary in order to effect such compliance.

       

      The
        Purchaser and the Company also acknowledge and agree that Section
        2.02(a)(i)-(v), Section 2.03(c), (e) and (f), Section 2.04, Section 2.05
        and
        Section 2.06 of this Reg AB Addendum shall only be applicable with respect
        to
        any Mortgage Loan if the Company (or Subservicer, if any) services such Mortgage
        Loan for a period following the closing date of a related Securitization
        Transaction. The Purchaser and the Company also acknowledge and agree that
        this
        Reg AB Addendum is intended to supplement the terms of the Agreement and,
        to the
        extent inconsistent, the rights and obligations under the Agreement shall
        continue to apply with respect to any Reconstitution (as defined in the
        Agreement) that is not covered by the definition of “Securitization Transfer” in
        this Reg AB Addendum; provided, however, that the requirement to provide
        an
        accountants’ report pursuant to Section 11.21 of the Agreement shall be deemed
        satisfied with respect to any Reconstitution that occurs prior to, on or
        following the date hereof by providing an accountants’ attestation that
        satisfies the requirements of Section 2.05(a)(ii) of this Reg AB
        Addendum.

       

      For
        purposes of this Reg AB Addendum, the term “Purchaser” shall refer to EMC
        Mortgage Corporation and its successors in interest and assigns. In addition,
        any notice or request that must be “in writing” or “written” may be made by
        electronic mail.

       

      Section
        2.02. Additional
        Representations and Warranties of the Company.

       

      (a) The
        Company shall be deemed to represent to the Purchaser,
        to any
        Master Servicer
        and to
        any Depositor, as of the date on which information is first provided to the
        Purchaser,
        any
        Master Servicer
        or any
        Depositor under Section 2.03 that, except as disclosed in writing to the
        Purchaser or such Depositor prior to such date: (i) the Company is not aware
        and
        has not received notice that any default, early amortization or other
        performance triggering event has occurred as to any other securitization
        due to
        any act or failure to act of the Company; (ii) the Company has not been
        terminated as servicer in a residential mortgage loan securitization, either
        due
        to a servicing default or to application of a servicing performance test
        or
        trigger; (iii) no material noncompliance with the applicable Servicing Criteria
        with respect to other securitizations of residential mortgage loans involving
        the Company as servicer has been disclosed or reported by the Company; (iv)
        no
        material changes to the Company’s policies or procedures with respect to the
        servicing function it will perform under this Agreement and any Reconstitution
        Agreement for mortgage loans of a type similar to the Mortgage Loans have
        occurred during the three-year period immediately preceding the related
        Securitization Transaction; (v) there are no aspects of the Company’s financial
        condition that are reasonably expected to have a material adverse effect
        on the
        performance by the Company of its servicing obligations under this Agreement
        or
        any Reconstitution Agreement; (vi) there are no material legal or governmental
        proceedings pending (or known to be contemplated) against the Company, any
        Subservicer or any Third-Party Originator; and (vii) there are no affiliations,
        relationships or transactions relating to the Company, any Subservicer or
        any
        Third-Party Originator with respect to any Securitization Transaction and
        any
        party thereto identified in writing to the Company by the related Depositor
        of a
        type described in Item 1119 of Regulation AB.

       

      (b) If
        so
        requested in writing by the Purchaser,
        any
        Master Servicer
        or any
        Depositor on any date following the date on which information is first provided
        to the Purchaser,
        any
        Master Servicer
        or any
        Depositor under Section 2.03, the Company shall use its reasonable best efforts
        to within five (5) Business Days, but in no event later than seven (7) Business
        Days, following such request, confirm in writing the accuracy of the
        representations and warranties set forth in paragraph (a) of this Section
        or, if
        any such representation and warranty is not accurate as of the date of such
        request, provide reasonably adequate disclosure of the pertinent facts, in
        writing, to the requesting party.

       

      Section
        2.03. Information
        to Be Provided by the Company.

       

      In
        connection with any Securitization Transaction, the Company shall (i) within
        five (5) Business Days (but in no event later than seven (7) Business Days)
        following written request by the Purchaser,
        any
        Master Servicer
        or any
        Depositor, provide to the Purchaser and such Depositor (or, as applicable,
        cause
        each Third-Party Originator and each Subservicer to provide), in writing
        and in
        form and substance reasonably satisfactory to the Purchaser,
        such
        Master Servicer
        and such
        Depositor, the information and materials specified in paragraphs (a), (b),
        (c)
        and (f) of this Section, and (ii) as promptly as practicable following notice
        to
        or discovery by the Company, provide to the Purchaser,
        any
        Master Servicer
        and any
        Depositor (in writing and in form and substance reasonably satisfactory to
        the
        Purchaser,
        such
        Master Servicer
        and such
        Depositor) the information specified in paragraph (d) of this
        Section.

       

      (a) If
        so
        requested in writing by the Purchaser,
        any
        Master Servicer
        or any
        Depositor, the Company shall provide such information regarding (i) the Company,
        as originator of the Mortgage Loans (including as an acquirer of Mortgage
        Loans
        from a Qualified Correspondent), or (ii) each Third-Party Originator, and
        (iii)
        as applicable, each Subservicer, as is reasonably requested for the purpose
        of
        compliance with Items 1103(a)(l), 1105, 1110, 1117 and 1119 of Regulation
        AB.
        Such information shall include, at a minimum (so long as required by Regulation
        AB):

       

      (A) the
        originator’s form of organization;

       

      (B) a
        description of the originator’s origination program and how long the originator
        has been engaged in originating residential mortgage loans, which description
        shall include a discussion of the originator’s experience in originating
        mortgage loans of a similar type as the Mortgage Loans; information regarding
        the size and composition of the originator’s origination portfolio; and
        information that may be material, in the good faith judgment of the Purchaser
        or
        any Depositor, to an analysis of the performance of the Mortgage Loans,
        including the originators’ credit-granting or underwriting criteria for mortgage
        loans of similar type(s) as the Mortgage Loans and such other information
        as the
        Purchaser,
        any
        Master Servicer
        or any
        Depositor may reasonably request for the purpose of compliance with Item
        1110(b)(2) of Regulation AB;

       

      (C) a
        description of any legal or governmental proceedings pending (or known to
        be
        contemplated) against the Company, each Third-Party Originator and each
        Subservicer that would be material to securityholders; and

       

      (D) a
        description of any affiliation or relationship between the Company, each
        Third-Party Originator, each Subservicer and any of the following parties
        to a
        Securitization Transaction, as such parties are identified to the Company
        by the
        Purchaser or any Depositor in writing in advance of such Securitization
        Transaction:

       

      (1) the
        sponsor;

      (2) the
        depositor;

      (3) the
        issuing entity;

      (4) any
        servicer;

      (5) any
        trustee;

      (6) any
        originator;

      (7) any
        significant obligor;

      (8) any
        enhancement or support provider; and

      (9) any
        other
        material transaction party.

       

      (b) If
        so
        requested in writing by the Purchaser,
        any
        Master Servicer
        or any
        Depositor, the Company shall provide (or, as applicable, cause each Third-Party
        Originator to provide) Static Pool Information solely with respect to mortgage
        loans (of a similar type as the Mortgage Loans, as reasonably identified
        by the
        Purchaser as provided below) (i) originated by the Company that were included
        in
        securitizations that closed during the five (5) years preceding the closing
        date
        of the related Securitization Transaction and for which Banc of America Mortgage
        Securities, Inc. was the depositor and/or (ii) each Third Party Originator.
        Such
        Static Pool Information shall be prepared by the Company (or Third-Party
        Originator) on the basis of its reasonable, good faith interpretation of
        the
        requirements of Item 1105(a)(3) of Regulation AB. To the extent that there
        is
        reasonably available to the Company (or Third-Party Originator) Static Pool
        Information with respect to more than one mortgage loan type, the Purchaser
        or
        any Depositor shall be entitled to specify whether some or all of such
        information shall be provided pursuant to this paragraph. The content of
        such
        Static Pool Information may be in the form customarily provided by the Company,
        and need not be customized for the Purchaser or any Depositor. Such Static
        Pool
        Information shall be presented in increments no less frequently than quarterly
        over the life of the related mortgage loans. The most recent periodic increment
        must be as of a date no later than 135 days prior to the date of the prospectus
        or other offering document in which the Static Pool Information is to be
        included or incorporated by reference. The Static Pool Information shall
        be
        provided in an electronic format that provides a permanent record of the
        information provided, such as a portable document format (pdf) file, or other
        such electronic format reasonably required by the Purchaser or the Depositor,
        as
        applicable.

       

      Promptly
        following notice or discovery of a material error in Static Pool Information
        provided pursuant to the immediately preceding paragraph (including an omission
        to include therein information required to be provided pursuant to such
        paragraph) during the applicable offering period for the securities, the
        Company
        shall provide corrected Static Pool Information to the Purchaser or any
        Depositor, as applicable, in the same format in which Static Pool Information
        was previously provided to such party by the Company.

       

      If
        so
        requested in writing by the Purchaser,
        any
        Master Servicer
        or any
        Depositor, the Company shall provide (or, as applicable, cause each Third-Party
        Originator to provide), at the expense of the requesting party (to the extent
        of
        any additional incremental expense associated with delivery pursuant to this
        Reg
        AB Addendum), such statements and agreed-upon procedures letters of certified
        public accountants reasonably acceptable to the Purchaser,
        any
        Master Servicer
        or
        Depositor, as applicable, pertaining to Static Pool Information relating
        to
        prior securitized pools for securitizations closed on or after January 1,
        2006,
        or , in the case of Static Pool Information with respect to a Third Party
        Originator’s originations or purchases, to calendar months commencing January 1,
        2006, as the Purchaser or such Depositor shall reasonably request. Such
        statements and letters shall be addressed to and be for the benefit of such
        parties as the Purchaser,
        any
        Master Servicer
        or such
        Depositor shall designate, which may include, by way of example, any Sponsor,
        any Depositor and any broker dealer acting as underwriter, placement agent
        or
        initial purchaser with respect to a Securitization Transaction. Any such
        statement or letter may take the form of a standard, generally applicable
        document accompanied by a reliance letter authorizing reliance by the addressees
        designated by the Purchaser or such Depositor.

       

      (c) If
        so
        requested in writing by the Purchaser,
        any
        Master Servicer
        or any
        Depositor with respect to any Securitization Transaction for which 20% or
        more
        of the pool assets (measured by cut-off date principal balance) are serviced
        by
        the Company and any Subservicer or as otherwise required by Item 1108 of
        Regulation AB, the Company shall provide such information regarding the Company,
        as servicer of the Mortgage Loans, and each Subservicer (each of the Company
        and
        each Subservicer, for purposes of this paragraph, a “Servicer”),
        as is
        reasonably requested for the purpose of compliance with Item 1108 of Regulation
        AB. Such information shall include, at a minimum (so long as required by
        Regulation AB):

       

      (A) the
        Servicer’s form of organization;

       

      (B) a
        description of how long the Servicer has been servicing residential mortgage
        loans; a general discussion of the Servicer’s experience in servicing assets of
        any type as well as a more detailed discussion of the Servicer’s experience in,
        and procedures for, the servicing function it will perform under the Agreement
        and any Reconstitution Agreements; information regarding the size, composition
        and growth of the Servicer’s portfolio of residential mortgage loans of a type
        similar to the Mortgage Loans and information on factors related to the Servicer
        that may be material, in the good faith judgment of the Purchaser,
        any
        Master Servicer
        or any
        Depositor, to any analysis of the servicing of the Mortgage Loans or the
        related
        asset-backed securities, as applicable, including, without
        limitation:

       

      (1) whether
        the Servicer is aware of or has received notice that any prior securitizations
        of mortgage loans of a type similar to the Mortgage Loans involving the Servicer
        have defaulted or experienced an early amortization or other performance
        triggering event because of servicing by the Servicer during the three-year
        period immediately preceding the related Securitization
        Transaction;

       

      (2) the
        extent of outsourcing the Servicer utilizes;

       

      (3) whether
        there has been previous disclosure of material noncompliance with the applicable
        servicing criteria with respect to other securitizations of residential mortgage
        loans involving the Servicer as a servicer during the three-year period
        immediately preceding the related Securitization Transaction;

       

      (4) whether
        the Servicer has been terminated as servicer in a residential mortgage loan
        securitization, either due to a servicing default or to application of a
        servicing performance test or trigger; and

       

      (5) such
        other information as the Purchaser,
        any
        Master Servicer
        or any
        Depositor may reasonably request for the purpose of compliance with Item
        1108(b)(2) of Regulation AB;

       

      (C) a
        description of any material changes during the three-year period immediately
        preceding the related Securitization Transaction to the Servicer’s policies or
        procedures with respect to the servicing function it will perform under the
        Agreement and any Reconstitution Agreements for mortgage loans of a type
        similar
        to the Mortgage Loans;

       

      (D) information
        regarding the Servicer’s financial condition, to the extent that there is a
        material risk that an adverse financial event or circumstance involving the
        Servicer could have a material adverse effect on the performance by the Company
        of its servicing obligations under the Agreement or any Reconstitution
        Agreement;

       

      (E) information
        regarding advances made by the Servicer on the Mortgage Loans and the Servicer’s
        overall servicing portfolio of residential mortgage loans for the three-year
        period immediately preceding the related Securitization Transaction, which
        may
        be limited to a statement by an authorized officer of the Servicer to the
        effect
        that the Servicer has made all advances required to be made on residential
        mortgage loans serviced by it during such period, or, if such statement would
        not be accurate, information regarding the percentage and type of advances
        not
        made as required, and the reasons for such failure to advance;

       

      (F) a
        description of the Servicer’s processes and procedures designed to address any
        special or unique factors involved in servicing loans of a similar type as
        the
        Mortgage Loans;

       

      (G) a
        description of the Servicer’s processes for handling delinquencies, losses,
        bankruptcies and recoveries, such as through liquidation of mortgaged
        properties, sale of defaulted mortgage loans or workouts; and

       

      (H) information
        as to how the Servicer defines or determines delinquencies and charge-offs,
        including the effect of any grace period, re-aging, restructuring, partial
        payments considered current or other practices with respect to delinquency
        and
        loss experience.

       

      (d) If
        so
        requested in writing by the Purchaser,
        any
        Master Servicer
        or any
        Depositor for the purpose of satisfying its reporting obligation under the
        Exchange Act with respect to any class of asset-backed securities, the Company
        shall (or shall cause each Subservicer and Third-Party Originator to) (i)
        notify
        the Purchaser,
        any
        Master Servicer
        and any
        Depositor in writing of (A) any litigation or governmental proceedings pending
        against the Company, any Subservicer or any Third-Party Originator that would
        be
        material to securityholders,
        (B) any
        affiliations or relationships of a type that are described under Item 119
        of
        Regulation AB and are material to securityholders that develop following
        the
        closing date of a Securitization Transaction between the Company, any
        Subservicer or any Third-Party Originator and any of the parties specified
        in
        clause (D) of paragraph (a) of this Section (and any other parties identified
        in
        writing by the requesting party) with respect to such Securitization
        Transaction, but only to the extent that such affiliations or relationships
        do
        not include the Purchaser, Depositor or any of their respective affiliates
        as a
        party (to the extent the Purchaser has been notified by the Company of the
        name
        of any applicable Subservicer or Third-Party Originator), (C)
        any
        Event of Default under the terms of this Agreement or any Reconstitution
        Agreement, (D) any merger, consolidation or sale of substantially all of
        the
        assets of the Company, and (E) the Company’s entry into an agreement with a
        Subservicer to perform or assist in the performance of any of the Company’s
        obligations under this Agreement or any Reconstitution Agreement and (ii)
        provide to the Purchaser and any Depositor a description of such proceedings,
        affiliations or relationships, and
        (ii)
        provide to the Purchaser and any Depositor a description of such proceedings,
        affiliations or relationships.

       

      All
        notification pursuant to this Section 2.03(d), other than those pursuant
        to
        Section 2.03(d)(i)(A), should be sent to:

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      With
        a
        copy to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

       

      Notifications
        pursuant to Section 2.03(d)(i)(A) should be sent to:

       

      EMC
        Mortgage Corporation

      Two
        Mac
        Arthur Ridge

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        TX 75038

      Attention:
        Associate General Counsel for Loan Administration

      Facsimile:
        (972) 831-2555

       

      With
        copies to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

       

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      (e) As
        a
        condition to the succession to the Company or any Subservicer as servicer
        or
        subservicer under the Agreement or any Reconstitution Agreement by any Person
        (i) into which the Company or such Subservicer may be merged or consolidated,
        or
        (ii) which may be appointed as a successor to the Company or any Subservicer,
        the Company shall provide to the Purchaser,
        any
        Master Servicer
        and any
        Depositor, at least 15 calendar days prior to the effective date of such
        succession or appointment, (x) written notice to the Purchaser,
        any
        Master Servicer
        and any
        Depositor of such succession or appointment and (y) in writing and in form
        and
        substance reasonably satisfactory to the Purchaser,
        any
        Master Servicer
        and such
        Depositor, all information reasonably requested in writing by the
        Purchaser,
        any
        Master Servicer
        or any
        Depositor in order to comply with its reporting obligation under Item 6.02
        of
        Form 8-K with respect to any class of asset-backed securities.

       

      (f) In
        addition to such information as the Company, as servicer, is obligated to
        provide pursuant to other provisions of this Agreement, not later than ten
        days
        prior to the deadline for the filing of any distribution report on Form 10-D
        in
        respect of any Securitization Transaction that includes any of the Mortgage
        Loans serviced by the Company or any Subservicer, the Company or such
        Subservicer, as applicable, shall, to the extent the Company or such Subservicer
        has knowledge, provide to the party responsible for filing such report
        (including, if applicable, the Master Servicer) notice of the occurrence
        of any
        of the following events along with all information, data, and materials related
        thereto as may be required to be included in the related distribution report
        on
        Form 10-D (as specified in the provisions of Regulation AB referenced
        below):

       

      (i) any
        material modifications, extensions or waivers of pool asset terms, fees,
        penalties or payments during the distribution period or that have cumulatively
        become material over time (Item 1121(a)(11) of Regulation AB);

       

      (ii) material
        breaches of pool asset representations or warranties or transaction covenants
        (Item 1121(a)(12) of Regulation AB); and

       

      (iii) information
        regarding new asset-backed securities issuances backed by the same pool assets,
        any material pool asset changes (such as, additions, substitutions or
        repurchases), and any material changes in origination, underwriting or other
        criteria for acquisition or selection of pool assets (Item 1121(a)(14) of
        Regulation AB).

       

      (g) Upon
        request, the Company shall provide to the Purchaser, any Master Servicer
        and any
        Depositor, evidence of the authorization of the person signing any certification
        or statement, copies or other evidence of Fidelity Bond Insurance and Errors
        and
        Omission Insurance policy, financial information and reports, and such other
        information related to the Company or any Subservicer or the Company or such
        Subservicer’s performance hereunder.

       

      Section
        2.04. Servicer
        Compliance Statement.

       

      The
        Company shall use its reasonable best efforts to deliver to the
        Purchaser,
        any
        Master Servicer
        and any
        Depositor, on
        or
        before March 1 (but in any event no later than March 15) of each calendar
        year,
        commencing in 2007, a statement of compliance addressed to the Purchaser
        and
        such Depositor and signed by an authorized officer of the Company, to the
        effect
        that (i) a review of the Company’s activities during the immediately preceding
        calendar year (or applicable portion thereof) and of its performance under
        the
        Agreement and any applicable Reconstitution Agreement during such period
        has
        been made under such officer’s supervision, and (ii) to the best of such
        officers’ knowledge, based on such review, the Company has fulfilled all of its
        obligations under the Agreement and any applicable Reconstitution Agreement
        in
        all material respects throughout such calendar year (or applicable portion
        thereof) or, if there has been a failure to fulfill any such obligation in
        any
        material respect, specifically identifying each such failure known to such
        officer and the nature and the status thereof.

       

      Section
        2.05. Report
        on Assessment of Compliance and Attestation.

       

      (a) The
        Company shall use its reasonable best efforts, on or before March 1 of each
        calendar year, commencing in 2007 (but in any event no later than March 15),
        to:

       

      (i) deliver
        to the Purchaser,
        any
        Master Servicer
        and any
        Depositor a report regarding the Company’s assessment of compliance with the
        Servicing Criteria during the immediately preceding calendar year, as required
        under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation
        AB. Such report shall be addressed to the Purchaser and such Depositor and
        signed by an authorized officer of the Company, and shall address each of
        the
        Servicing Criteria specified on a certification substantially in the form
        of
        Exhibit B hereto delivered to the Purchaser concurrently with the execution
        of
        this Reg AB Addendum;

       

      (ii) deliver
        to the Purchaser,
        any
        Master Servicer
        and any
        Depositor a report of a registered public accounting firm that attests to,
        and
        reports on, the assessment of compliance made by the Company and delivered
        pursuant to the preceding paragraph. Such attestation shall be in accordance
        with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities
        Act and
        the Exchange Act;

       

      (iii) cause
        each Subservicer, and each Subcontractor determined by the Company pursuant
        to
        Section 2.06(b) to be “participating in the servicing function” within the
        meaning of Item 1122 of Regulation AB, to deliver to the Purchaser and any
        Depositor an assessment of compliance and accountants’ attestation as and when
        provided in paragraphs (a) and (b) of this Section; and

       

      (iv) deliver
        to the Purchaser, any Depositor,
        any
        Master Servicer
        and any
        other Person that will be responsible for signing the certification (a
“Sarbanes
        Certification”)
        required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act (pursuant
        to
        Section 302 of the Sarbanes-Oxley Act of 2002) on behalf of an asset-backed
        issuer with respect to a Securitization Transaction a certification in the
        form
        attached hereto as Exhibit A.

       

      The
        Company acknowledges that the parties identified in clause (a)(iv) above
        may
        rely on the certification provided by the Company pursuant to such clause
        in
        signing a Sarbanes Certification and filing such with the
        Commission.

       

      (b) Each
        assessment of compliance provided by a Subservicer pursuant to Section
        2.05(a)(iii) shall address each of the Servicing Criteria specified on a
        certification substantially in the form of Exhibit B hereto delivered to
        the
        Purchaser concurrently with the execution of this Reg AB Addendum or, in
        the
        case of a Subservicer subsequently appointed as such, on or prior to the
        date of
        such appointment. An assessment of compliance provided by a Subcontractor
        pursuant to Section 2.05(a)(iii) need not address any elements of the Servicing
        Criteria other than those specified by the Company pursuant to Section
        2.06.

       

      Section
        2.06. Use
        of
        Subservicers and Subcontractors.

       

      The
        Company shall not hire or otherwise utilize the services of any Subservicer
        to
        fulfill any of the obligations of the Company as servicer under the Agreement
        or
        any Reconstitution Agreement unless the Company complies with the provisions
        of
        paragraph (a) of this Section. The Company shall not hire or otherwise utilize
        the services of any Subcontractor, and shall not authorize any Subservicer
        to
        hire or otherwise utilize the services of any Subcontractor, to fulfill any
        of
        the obligations of the Company as servicer under the Agreement or any
        Reconstitution Agreement unless the Company complies with the provisions
        of
        paragraph (b) of this Section.

       

      (a) It
        shall
        not be necessary for the Company to seek the consent of the
        Purchaser,
        any
        Master Servicer
        or any
        Depositor to the utilization of any Subservicer. The Company shall cause
        any
        Subservicer used by the Company (or by any Subservicer) for the benefit of
        the
        Purchaser and any Depositor to comply with the provisions of this Section
        and
        with Sections 2.02, 2.03(c) and (e), 2.04, 2.05 and 2.07 of this Reg AB Addendum
        to the same extent as if such Subservicer were the Company, and to provide
        the
        information required with respect to such Subservicer under Section 2.03(
        d) of
        this Reg AB Addendum. The Company shall be responsible for obtaining from
        each
        Subservicer and delivering to the Purchaser,
        any
        Master Servicer
        and any
        Depositor any servicer compliance statement required to be delivered by such
        Subservicer under Section 2.04, any assessment of compliance and attestation
        required to be delivered by such Subservicer under Section 2.05 and any
        certification required to be delivered to the Person that will be responsible
        for signing the Sarbanes Certification under Section 2.05 as and when required
        to be delivered.

       

      (b) It
        shall
        not be necessary for the Company to seek the consent of the
        Purchaser,
        any
        Master Servicer
        or any
        Depositor to the utilization of any Subcontractor. The Company shall promptly
        upon written request provide to the Purchaser,
        any
        Master Servicer
        and any
        Depositor (or any designee of the Depositor, such as a master servicer or
        administrator) a written description (in form and substance reasonably
        satisfactory to the Purchaser,
        any
        Master Servicer
        and such
        Depositor) of the role and function of each Subcontractor utilized by the
        Company or any Subservicer, specifying (i) the identity of each such
        Subcontractor that is “participating in the servicing function” within the
        meaning of Item 1122 of Regulation AB as determined by the Company and (ii)
        which elements of the Servicing Criteria will be addressed in assessments
        of
        compliance provided by each Subcontractor identified pursuant to clause (i)
        of
        this paragraph.

       

      As
        a
        condition to the utilization of any Subcontractor determined to be
“participating in the servicing function” within the meaning of Item 1122 of
        Regulation AB, the Company shall cause any such Subcontractor used by the
        Company (or by any Subservicer) for the benefit of the Purchaser,
        any
        Master Servicer
        and any
        Depositor to comply with the provisions of Sections 2.05 and 2.07 of this
        Reg AB
        Addendum to the same extent as if such Subcontractor were the Company. The
        Company shall be responsible for obtaining from each Subcontractor and
        delivering to the Purchaser,
        any
        Master Servicer
        and any
        Depositor any assessment of compliance and attestation required to be delivered
        by such Subcontractor under Section 2.05, in each case as and when required
        to
        be delivered.

       

      Section
        2.07. Indemnification;
        Remedies.

       

      (a) The
        Company shall indemnify the Purchaser, each affiliate of the Purchaser, and
        each
        of the following parties participating in a Securitization Transaction: each
        Sponsor; each Person (including, but not limited to, any Master Servicer,
        if
        applicable) responsible for the preparation, execution or filing of any report
        required to be filed with the Commission with respect to such Securitization
        Transaction, or for execution of a certification pursuant to Rule 13a-14(d)
        or
        Rule 15d-14(d) under the Exchange Act with respect to such Securitization
        Transaction; each broker dealer acting as underwriter, placement agent or
        initial purchaser, each Person who controls any of such parties or the Depositor
        (within the meaning of Section 15 of the Securities Act and Section 20 of
        the
        Exchange Act); and the respective present and former directors, officers,
        employees, agents and affiliates of each of the foregoing and of the Depositor
        (each, an “Indemnified
        Party”),
        and
        shall hold each of them harmless from and against any claims, losses, damages,
        penalties, fines, forfeitures, legal fees and expenses and related costs,
        judgments, and any other costs, fees and expenses that any of them may sustain
        arising out of or based upon:

       

      (i) (A)
        any
        untrue statement of a material fact contained or alleged to be contained
        in any
        information, report, certification, data, accountants’ letter or other material
        in written or electronic form provided under this Article II by or on behalf
        of
        the Company, or provided under this Article II by or on behalf of any
        Subservicer, Subcontractor or Third-Party Originator (collectively, the
“Company
        Information”),
        or
        (B) the omission or alleged omission to state in the Company Information
        a
        material fact required to be stated in the Company Information or necessary
        in
        order to make the statements therein, in the light of the circumstances under
        which they were made, not misleading; provided, by way of
        clarification, that
        clause (B) of this paragraph shall be construed solely by reference to the
        Company Information and not to any other information communicated in connection
        with a sale or purchase of securities, without regard to whether the Company
        Information or any portion thereof is presented together with or separately
        from
        such other information;

       

      (ii) any
        breach by the Company of its obligations under this Section 2.07, including
        particularly any failure by the Company, any Subservicer, any Subcontractor
        or
        any Third-Party Originator to deliver any information, report, certification,
        accountants’ letter or other material when and as required under this Article
        II, including any failure by the Company to identify pursuant to Section
        2.06(b)
        any Subcontractor “participating in the servicing function” within the meaning
        of Item 1122 of Regulation AB; 

       

      (iii) any
        breach by the Company of a representation or warranty set forth in Section
        2.02(a) or in a writing furnished pursuant to Section 2.02(b) and made as
        of a
        date prior to the closing date of the related Securitization Transaction,
        to the
        extent that such breach is not cured by such closing date, or any breach
        by the
        Company of a representation or warranty in a writing furnished pursuant to
        Section 2.02(b) to the extent made as of a date subsequent to such closing
        date;
        or

       

      (iv) the
        negligence, bad faith or willful misconduct of the Company in connection
        with
        its performance under this Section 2.07.

       

      If
        the
        indemnification provided for herein is unavailable or insufficient to hold
        harmless an Indemnified Party, the Company agrees that it shall contribute
        to
        the amount paid or payable by such Indemnified Party as a result of any claims,
        losses, damages or liabilities incurred by such Indemnified Party in such
        proportion as is appropriate to reflect the relative fault of such Indemnified
        Party on the one hand and the Company on the other.

       

      This
        indemnification shall survive the termination of this Agreement or the
        termination of any party to this Agreement.

       

      All
        Mortgage Loans not sold or transferred pursuant to a Reconstitution shall
        remain
        subject to, and serviced in accordance with the terms of, this Agreement
        and the
        related Term Sheet, and with respect thereto this Agreement and the related
        Term
        Sheet shall remain in full force and effect.

       

      In
        the
        case of any failure of performance described in clause (a)(ii) of this Section,
        the Company shall promptly reimburse the Purchaser, any Depositor, as
        applicable, and each Person responsible for the preparation, execution or
        filing
        of any report required to be filed with the Commission with respect to such
        Securitization Transaction, or for execution of a certification pursuant
        to Rule
        13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such
        Securitization Transaction, for all costs reasonably incurred by each such
        party
        in order to obtain the information, report, certification, accountants’ letter
        or other material not delivered as required by the Company, any Subservicer,
        any
        Subcontractor or any Third-Party Originator.

       

      (b) i) Any
        failure by the Company, any Subservicer, any Subcontractor or any Third-Party
        Originator to deliver any information, report, certification, accountants’
letter or other material when and as required under this Article II, or any
        breach by the Company of a representation or warranty set forth in Section
        2.02(a) or in a writing furnished pursuant to Section 2.02(b) and made as
        of a
        date prior to the closing date of the related Securitization Transaction,
        to the
        extent that such breach is not cured by such closing date, or any breach
        by the
        Company of a representation or warranty in a writing furnished pursuant to
        Section 2.02(b) to the extent made as of a date subsequent to such closing
        date,
        shall, except as provided in clause (ii) of this paragraph, immediately and
        automatically, without notice or grace period, constitute an Event of Default
        with respect to the Company under the Agreement and any applicable
        Reconstitution Agreement, and shall entitle the Purchaser or Depositor, as
        applicable, in its sole discretion to terminate the rights and obligations
        of
        the Company as servicer under the Agreement and/or any applicable Reconstitution
        Agreement without payment (notwithstanding anything in this Agreement or
        any
        applicable Reconstitution Agreement to the contrary) of any compensation
        to the
        Company; provided
        that
        to
        the extent that any provision of the Agreement and/or any applicable
        Reconstitution Agreement expressly provides for the survival of certain rights
        or obligations following termination of the Company as servicer, such provision
        shall be given effect.

       

      (ii) Any
        failure by the Company, any Subservicer or any Subcontractor to deliver any
        information, report, certification or accountants’ letter when and as required
        under Section 2.04 or 2.05, including any failure by the Company to identify
        pursuant to Section 2.06(b) any Subcontractor “participating in the servicing
        function” within the meaning of Item 1122 of Regulation AB, which continues
        unremedied for ten calendar days after the date on which such information,
        report, certification or accountants’ letter was required to be delivered shall
        constitute an Event of Default with respect to the Company under the Agreement
        and any applicable Reconstitution Agreement, and shall entitle the Purchaser
        or
        Depositor, as applicable, in its sole discretion to terminate the rights
        and
        obligations of the Company as servicer under the Agreement and/or any applicable
        Reconstitution Agreement without payment (notwithstanding anything in this
        Agreement to the contrary) of any compensation to the Company; provided
        that
        to
        the extent that any provision of the Agreement and/or any applicable
        Reconstitution Agreement expressly provides for the survival of certain rights
        or obligations following termination of the Company as servicer, such provision
        shall be given effect.

       

      (iii) The
        Company shall promptly reimburse the Purchaser (or any designee of the
        Purchaser, such as a master servicer) and any Depositor, as applicable, for
        all
        reasonable expenses incurred by the Purchaser (or such designee) or such
        Depositor, as such are incurred, in connection with the termination of the
        Company as servicer and the transfer of servicing of the Mortgage Loans to
        a
        successor servicer. The provisions of this paragraph shall not limit whatever
        rights the Purchaser or any Depositor may have under other provisions of
        the
        Agreement and/or any applicable Reconstitution Agreement or otherwise, whether
        in equity or at law, such as an action for damages, specific performance
        or
        injunctive relief.

       

      

      [signatures
        follow]

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      IN
        WITNESS WHEREOF, the Purchaser and the Company have caused their names to
        be
        signed hereto by their respective officers thereunto duly authorized as of
        the
        day and year first above written.

       

      EMC
        MORTGAGE CORPORATION,

      as
        Purchaser

       

      By:

       

      Name:

       

      Title:

       

      

      BANK
        OF
        AMERICA, NATIONAL ASSOCIATION,

      as
        Company

       

      By:

       

      Name:

       

      Title:

       

      

       

      [REGULATION
        AB COMPLIANCE ADDENDUM]

       

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        A

       

      FORM
        OF
COMPANY
        CERTIFICATION

       

      Re:
         The
        [
 ]
        agreement dated as of [l,
        200[ ]
        (the “Agreement”), among  [IDENTIFY
        PARTIES]

       

      I,
        ____________________________,
        the
        _______________________
        of
        [NAME OF COMPANY] (the “Company”),
        certify
        to [the Purchaser], [the Depositor], and the [Master Servicer] [Securities
        Administrator] [Trustee], and their officers, with the knowledge and intent
        that
        they will rely upon this certification, that:

       

      I
        have
        reviewed the servicer compliance statement of the Company provided in accordance
        with Item 1123 of Regulation AB (the “Compliance Statement”), the report on
        assessment of the Company’s compliance with the servicing criteria set forth in
        Item 1122(d) of Regulation AB
        (the
“Servicing Criteria”), provided in accordance with Rules 13a-18 and 15d-18 under
        Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122
        of Regulation AB (the “Servicing Assessment”), the registered public accounting
        firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18
        under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation
        Report”), and all servicing reports, officer’s certificates and other
        information relating to the servicing of the Mortgage Loans by the Company
        during 200[ ] that were delivered by the Company to the [Depositor] [Master
        Servicer] [Securities Administrator] [Trustee] pursuant to the Agreement
        (collectively, the “Company Servicing Information”);

       

      Based
        on
        my knowledge, the Company Servicing Information, taken as a whole, does not
        contain any untrue statement of a material fact or omit to state a material
        fact
        necessary to make the statements made, in the light of the circumstances
        under
        which such statements were made, not misleading with respect to the period
        of
        time covered by the Company Servicing Information;

       

      Based
        on
        my knowledge, all of the Company Servicing Information required to be provided
        by the Company under the Agreement has been provided to the [Depositor] [Master
        Servicer] [Securities Administrator] [Trustee];

       

      I
        am
        responsible for reviewing the activities performed by the Company as servicer
        under the Agreement, and based on my knowledge and the compliance review
        conducted in preparing the Compliance Statement and except as disclosed in
        the
        Compliance Statement, the Servicing Assessment or the Attestation Report,
        the
        Company has fulfilled its obligations under the Agreement in all material
        respects; and

       

      The
        Compliance Statement required to be delivered by the Company pursuant to
        this
        Agreement, and the Servicing Assessment and Attestation Report required to
        be
        provided by the Company and by any Subservicer and
        Subcontractor pursuant to the Agreement, have been provided to the [Depositor]
        [Master Servicer]. Any material instances of noncompliance described in such
        reports have been disclosed to the [Depositor] [Master Servicer]. Any
        material instance of noncompliance with the Servicing Criteria has been
        disclosed in such reports.

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

      EXHIBIT
        B

       

      SERVICING
        CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

       

      The
        assessment of compliance to be delivered by [the Company] [Name of Subservicer]
        shall address, at a minimum, the criteria identified as below as “Applicable
        Servicing Criteria”;

       

       

      

      
        	
                Servicing
                  Criteria

              	
                Applicable

                Servicing

                Criteria

              
	
                Reference

              	
                Criteria

              	 
	 	
                General
                  Servicing Considerations

              	 
	 	
                Policies
                  and procedures are instituted to monitor any performance or other
                  triggers
                  and events of default in accordance with the transaction
                  agreements.

              	 
	
                1122(d)(1)(i)

              
	
                1122(d)(1)(ii)

              	
                If
                  any material servicing activities are outsourced to third parties,
                  policies and procedures are instituted to monitor the third party’s
                  performance and compliance with such servicing activities.

              	
                P

              
	
                1122(d)(1)(iii)

              	
                Any
                  requirements in the transaction agreements to maintain a back-up
                  servicer
                  for the mortgage loans are maintained.

              	 
	
                1122(d)(1)(iv)

              	
                A
                  fidelity bond and errors and omissions policy is in effect on the
                  party
                  participating in the servicing function throughout the reporting
                  period in
                  the amount of coverage required by and otherwise in accordance
                  with the
                  terms of the transaction agreements.

              	
                P

              
	 	
                Cash
                  Collection and Administration

              	 
	
                1122(d)(2)(i)

              	
                Payments
                  on mortgage loans are deposited into the appropriate custodial
                  bank
                  accounts and related bank clearing accounts no more than two business
                  days
                  following receipt, or such other number of days specified in the
                  transaction agreements.

              	
                P

              
	
                1122(d)(2)(ii)

              	
                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel.

              	
                P

              
	
                1122(d)(2)(iii)

              	
                Advances
                  of funds or guarantees regarding collections, cash flows or distributions,
                  and any interest or other fees charged for such advances, are made,
                  reviewed and approved as specified in the transaction
                  agreements.

              	
                P

              
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of overcollateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements.

              	
                P

              
	
                1122(d)(2)(v)

              	
                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial
                  institution

                that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.

              	
                P

              
	
                1122(d)(2)(vi)

              	
                Unissued
                  checks are safeguarded so as to prevent unauthorized access.

              	
                P

              
	
                1122(d)(2)(vii)

              	
                Reconciliations
                  are prepared on a monthly basis for all asset-backed securities
                  related
                  bank accounts, including custodial accounts and related bank clearing
                  accounts. These reconciliations are (A) mathematically accurate;
                  (B)
                  prepared within 30 calendar days after the bank statement cutoff
                  date, or
                  such other number of days specified in the transaction

                agreements;
                  (C) reviewed and approved by someone other than the person who
                  prepared
                  the reconciliation; and (D) contain explanations for reconciling
                  items.
                  These reconciling items are resolved within 90 calendar days of
                  their
                  original identification, or such other number of

                days
                  specified in the transaction agreements.

              	
                P

              
	 	
                Investor
                  Remittances and Reporting

              	 
	
                1122(d)(3)(i)

              	
                Reports
                  to investors, including those to be filed with the Commission,
                  are
                  maintained in accordance with the transaction agreements and applicable
                  Commission requirements. Specifically, such reports (A) are prepared
                  in
                  accordance with timeframes and other terms set forth in the transaction
                  agreements; (B) provide information calculated in accordance with
                  the
                  terms specified in the transaction agreements; (C) are filed with
                  the
                  Commission as required by its rules and regulations; and (D) agree
                  with
                  investors’ or the trustee’s records as to the total unpaid principal
                  balance and number of mortgage loans serviced by the
                  Servicer.

              	
                P

              
	
                1122(d)(3)(ii)

              	
                Amounts
                  due to investors are allocated and remitted in accordance with
                  timeframes,
                  distribution priority and other terms set forth in the transaction
                  agreements.

              	
                P

              
	
                1122(d)(3)(iii)

              	
                Disbursements
                  made to an investor are posted within two business days to the
                  Servicer’s
                  investor records, or such other number of days specified in the
                  transaction agreements.

              	
                P

              
	
                1122(d)(3)(iv)

              	
                Amounts
                  remitted to investors per the investor reports agree with cancelled
                  checks, or other form of payment, or custodial bank
                  statements.

              	
                P

              
	 	
                Pool
                  Asset Administration

              	 
	
                1122(d)(4)(i)

              	
                Collateral
                  or security on mortgage loans is maintained as required by the
                  transaction
                  agreements or related mortgage loan documents.

              	
                P

              
	
                1122(d)(4)(ii)

              	
                Mortgage
                  loan and related documents are safeguarded as required by the transaction
                  agreements

              	
                P

              
	
                1122(d)(4)(iii)

              	
                Any
                  additions, removals or substitutions to the asset pool are made,
                  reviewed
                  and approved in accordance with any conditions or requirements
                  in the
                  transaction agreements.

              	
                P

              
	
                1122(d)(4)(iv)

              	
                Payments
                  on mortgage loans, including any payoffs, made in accordance with
                  the
                  related mortgage loan documents are posted to the Servicer’s obligor
                  records maintained no more than two business days after receipt,
                  or such
                  other number of days specified in the transaction agreements, and
                  allocated to principal, interest or other items (e.g., escrow)
                  in

                accordance
                  with the related mortgage loan documents.

              	
                P

              
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the mortgage loans agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal
                  balance.

              	
                P

              
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor’s mortgage loans (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents.

              	
                P

              
	
                1122(d)(4)(vii)

              	
                Loss
                  mitigation or recovery actions (e.g., forbearance plans, modifications
                  and
                  deeds in lieu of foreclosure, foreclosures and repossessions, as
                  applicable) are initiated, conducted and concluded in accordance
                  with the
                  timeframes or other requirements established by the transaction
                  agreements.

              	
                P

              
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a mortgage
                  loan is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent mortgage loans including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or
                  unemployment).

              	
                P

              
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for mortgage loans with variable
                  rates are computed based on the related mortgage loan
                  documents.

              	
                P

              
	
                1122(d)(4)(x)

              	
                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s mortgage loan
                  documents, on at least an annual basis, or such other period specified
                  in
                  the transaction agreements; (B) interest on such funds is paid,
                  or
                  credited, to obligors in accordance with applicable mortgage loan
                  documents and state laws; and (C) such funds are returned to the
                  obligor
                  within 30 calendar days of full repayment of the related mortgage
                  loans,
                  or such other number of days specified in the transaction
                  agreements.

              	
                P

              
	
                1122(d)(4)(xi)

              	
                Payments
                  made on behalf of an obligor (such as tax or insurance payments)
                  are made
                  on or before the related penalty or expiration dates, as indicated
                  on the
                  appropriate bills or notices for such payments, provided that such
                  support
                  has been received by the servicer at least 30 calendar days prior
                  to these
                  dates, or such other number of days specified in the transaction
                  agreements.

              	
                P

              
	
                1122(d)(4)(xii)

              	
                Any
                  late payment penalties in connection with any payment to be made
                  on behalf
                  of an obligor are paid from the servicer’s funds and not charged to the
                  obligor, unless the late payment was due to the obligor’s error or
                  omission.

              	
                P

              
	
                1122(d)(4)(xiii)

              	
                Disbursements
                  made on behalf of an obligor are posted within two business days
                  to the
                  obligor’s records maintained by the servicer, or such other number of days
                  specified in the transaction agreements.

              	
                P

              
	
                1122(d)(4)(xiv)

              	
                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements.

              	
                P

              
	
                1122(d)(4)(xv)

              	
                Any
                  external enhancement or other support, identified in Item 1114(a)(1)
                  through (3) or Item 1115 of Regulation AB, is maintained as set
                  forth in
                  the transaction agreements.

              	 

      

      
 

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      H-4

     

    SERVICING
      AGREEMENT

     

    WELLS
      FARGO BANK, N.A.

     

    
      

       

      

      

      

      

      EMC
        MORTGAGE CORPORATION

      

      Purchaser

      

      and

      

      WELLS
        FARGO BANK, N.A.

      

      Company

      

      

      

      

       

      

      

      AMENDED
        AND RESTATED MASTER 

      SELLER'S
        WARRANTIES AND SERVICING AGREEMENT

      

      Dated
        as of November 1, 2005

      

       

      

      

      

      

      Fixed
        Rate and Adjustable Rate Mortgage Loans

      

      

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              EXECUTION
                COPY

              October
                28, 2004

            

          

        

      

      

      

      TABLE
        OF CONTENTS

      

      

      
        	
                ARTICLE
                  I

              
	
                DEFINITIONS

              
	
                ARTICLE
                  II

              
	
                CONVEYANCE
                  OF MORTGAGE LOANS; POSSESSION OF MORTGAGE FILES; BOOKS AND RECORDS;
                  CUSTODIAL AGREEMENT; DELIVERY OF DOCUMENTS

              
	
                ARTICLE
                  III

              
	
                REPRESENTATIONS
                  AND WARRANTIES REMEDIES AND BREACH

              
	
                ARTICLE
                  IV

              
	
                ADMINISTRATION
                  AND SERVICING OF MORTGAGE LOANS

              
	
                ARTICLE
                  V

              
	
                PAYMENTS
                  TO PURCHASER

              
	
                ARTICLE
                  VI

              
	
                GENERAL
                  SERVICING PROCEDURES

              
	
                ARTICLE
                  VII

              
	
                COMPANY
                  TO COOPERATE

              
	
                ARTICLE
                  VIII

              
	
                THE
                  COMPANY

              
	
                ARTICLE
                  IX

              
	
                SECURITIZATION
                  TRANSACTIONS; WHOLE LOAN TRANSFERS AND AGENCY
                  TRANSFERS

              
	
                ARTICLE
                  X

              
	
                DEFAULT

              
	
                ARTICLE
                  XI

              
	
                TERMINATION

              
	
                ARTICLE
                  XII

              
	
                MISCELLANEOUS
                  PROVISIONS

              

      

       

      

      

      EXHIBITS

      

      

      
        	
                Exhibit
                  A

              	
                Form
                  of Assignment and Conveyance

              
	
                 

              	
                Agreement

              
	
                Exhibit
                  B 

              	
                Custodial
                  Agreement

              
	
                Exhibit
                  C 

              	
                Contents
                  of Each Retained Mortgage File, 
                  Servicing
                    File and Custodial Mortgage File 

                

              
	
                Exhibit
                  D 

              	
                Servicing
                  Criteria

              
	
                Exhibit
                  E 

              	
                Form
                  of Sarbanes Certification

              
	
                Exhibit
                  F 

              	
                Form
                  of Sarbanes-Oxley Back-Up 
                  Certification

                

              
	
                Exhibit
                  G 

              	
                Form
                  of Assignment, Assumption and 
                  Recognition
                    Agreement

                

              
	
                Exhibit
                  H 

              	
                Electronic
                  Data File

              

      

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

       

      This
        is
        an Amended and Restated Master Seller's Warranties and Servicing Agreement
        for
        residential first mortgage loans, dated and effective as of November 1, 2005,
        and is executed between EMC Mortgage Corporation, as purchaser (the
        "Purchaser"), and Wells Fargo Bank, N.A., as seller and servicer (the
        "Company").

      

      

      W I T N E&am
        p;#1 60;S S E T H

      

      

      WHEREAS,
        the Purchaser has agreed to purchase from the Company and the Company has
        agreed
        to sell to the Purchaser from time to time (each a “Transaction”) certain
        residential Mortgage Loans which shall be delivered as whole loans (each
        a “Loan
        Package”) on various dates (each a “Closing Date”) as provided for in certain
        Assignment and Conveyance Agreements by and between the Purchaser and the
        Company as executed from time to time; and

      WHEREAS,
        each of the Mortgage Loans is secured by a mortgage, deed of trust or other
        security instrument creating a first lien on a residential dwelling located
        in
        the jurisdiction indicated on the related Mortgage Loan Schedule; and

      

      WHEREAS,
        the Purchaser and the Company wish to prescribe the manner of purchase of
        the
        Mortgage Loans and the conveyance, servicing and control of the Mortgage
        Loans.

      

      NOW,
        THEREFORE, in consideration of the mutual agreements hereinafter set forth,
        and
        for other good and valuable consideration, the receipt and adequacy of which
        is
        hereby acknowledged, the Purchaser and the Company agree as
        follows:

      

      

       

      ARTICLE
        I

       

      DEFINITIONS

      

      Whenever
        used herein, the following words and phrases, unless the content otherwise
        requires, shall have the following meanings:

      

      Accepted
        Servicing Practices:
        With
        respect to any Mortgage Loan, those mortgage servicing practices of prudent
        mortgage lending institutions which service mortgage loans of the same type
        as
        such Mortgage Loan in the jurisdiction where the related Mortgaged Property
        is
        located.

      

      Adjustment
        Date:
        As to
        each adjustable rate Mortgage Loan, the date on which the Mortgage Interest
        Rate
        is adjusted in accordance with the terms of the related Mortgage Note and
        Mortgage.

      

      Agency/Agencies:
        Fannie
        Mae, Freddie Mac or GNMA, or any of them as applicable.

      

      Agency
        Transfer:
        Any
        sale or transfer of some or all of the Mortgage Loans by the Purchaser to
        an
        Agency which sale or transfer is not a Securitization Transaction or Whole
        Loan
        Transfer.

      

      Agreement:
        This
        Amended and Restated Master Seller's Warranties and Servicing Agreement and
        all
        amendments hereof and supplements hereto.

      

      ALTA:
        The
        American Land Title Association or any successor thereto.

      

      Appraised
        Value:
        With
        respect to any Mortgage Loan, the lesser of (i) the value set forth on the
        appraisal made in connection with the origination of the related Mortgage
        Loan
        as the value of the related Mortgaged Property, or (ii) the purchase price
        paid
        for the Mortgaged Property, provided, however, in the case of a refinanced
        Mortgage Loan, such value shall be based solely on the appraisal made in
        connection with the origination of such Mortgage Loan.

      

      Assignment
        and Conveyance Agreement: With
        respect to each Transaction, the agreement between the Purchaser and the
        Company
        conveying to the Purchaser all the right, title and interest of the Company
        in
        and to the related Mortgage Loans listed on the related Mortgage Loan Schedule,
        a form of which is attached hereto as Exhibit A.

      

      Assignment
        of Mortgage:
        An
        assignment of the Mortgage, notice of transfer or equivalent instrument in
        recordable form, sufficient under the laws of the jurisdiction wherein the
        related Mortgaged Property is located to reflect the sale of the Mortgage
        to the
        Purchaser or if the related Mortgage has been recorded in the name of MERS
        or
        its designee, such actions as are necessary to cause the Purchaser to be
        shown
        as the owner of the related Mortgage on the records of MERS for purposes
        of the
        system of recording transfers of beneficial ownership of mortgages maintained
        by
        MERS, including assignment of the MIN Number which will appear either on
        the
        Mortgage or the Assignment of Mortgage to MERS.

      

      Assignment
        of Mortgage Note and Pledge Agreement:
        With
        respect to a Cooperative Loan, an assignment of the Mortgage Note and Pledge
        Agreement.

      

      Assignment
        of Proprietary Lease:
        With
        respect to a Cooperative Loan, an assignment of the Proprietary Lease sufficient
        under the laws of the jurisdiction wherein the related Cooperative Apartment
        is
        located to effect the assignment of such Proprietary Lease.

      

      Business
        Day:
        Any day
        other than (i) a Saturday or Sunday, or (ii) a day on which banking and savings
        and loan institutions in the states where the parties are located or are
        authorized or obligated by law or executive order to be closed.

      

      Buydown
        Agreement:
        An
        agreement between the Company and a Mortgagor, or an agreement among the
        Company, a Mortgagor and a seller of a Mortgaged Property or a third party
        with
        respect to a Mortgage Loan which provides for the application of Buydown
        Funds.

      

      Buydown
        Funds:
        In
        respect of any Buydown Mortgage Loan, any amount contributed by the seller
        of a
        Mortgaged Property subject to a Buydown Mortgage Loan, the buyer of such
        property, the Company or any other source, plus interest earned thereon,
        in
        order to enable the Mortgagor to reduce the payments required to be made
        from
        the Mortgagor’s funds in the early years of a Mortgage Loan.

      

      Buydown
        Mortgage Loan:
        Any
        Mortgage Loan in respect of which, pursuant to a Buydown Agreement, (i) the
        Mortgagor pays less than the full Monthly Payments specified in the Mortgage
        Note for a specified period, and (ii) the difference between the payments
        required under such Buydown Agreement and the Mortgage Note is provided from
        Buydown Funds.

      

      Buydown
        Period:
        The
        period of time when a Buydown Agreement is in effect with respect to a related
        Buydown Mortgage Loan.

      

      Closing
        Date:
        The
        date or dates, set forth in the related Commitment Letter, on which from
        time to
        time the Purchaser shall purchase and the Company shall sell the Mortgage
        Loans
        listed on the related Mortgage Loan Schedule for each Transaction.

      

      Code:
        The
        Internal Revenue Code of 1986, as it may be amended from time to time or
        any
        successor statute thereto, and applicable U.S. Department of the Treasury
        regulations issued pursuant thereto.

      

      Commission:
        The
        United States Securities and Exchange Commission.

      

      Commitment
        Letter:
        The
        commitment letter executed in relation to each Transaction that sets forth,
        among other things, the Purchase Price for the related Mortgage
        Loans.

      

      Company:
        Wells
        Fargo Bank, N.A., or its successor in interest or assigns, or any successor
        to
        the Company under this Agreement appointed as herein provided.

      

      Company
        Information:
        As
        defined in Section 9.01(f)(i)(A).

      

      Condemnation
        Proceeds:
        All
        awards or settlements in respect of a Mortgaged Property, whether permanent
        or
        temporary, partial or entire, by exercise of the power of eminent domain
        or
        condemnation, to the extent not required to be released to a Mortgagor in
        accordance with the terms of the related Mortgage Loan Documents.

      

      Cooperative:
        The
        entity that holds title (fee or an acceptable leasehold estate) to all of
        the
        real property that the Project comprises, including the land, separate dwelling
        units and all common areas.

       

      Cooperative
        Apartment:
        The
        specific dwelling unit relating to a Cooperative Loan.

       

      Cooperative
        Lien Search:
        A
        search for (a) federal tax liens, mechanics’ liens, lis
        pendens,
        judgments of record or otherwise against (i) the Cooperative, (ii) the seller
        of
        the Cooperative Apartment and (iii) the Company if the Cooperative Loan is
        a
        refinanced Mortgage Loan, (b) filings of financing statements and (c) the
        deed
        of the Project into the Cooperative.

       

      Cooperative
        Loan:
        A
        Mortgage Loan that is secured by Cooperative Shares and a Proprietary Lease
        granting exclusive rights to occupy the related Cooperative
        Apartment.

      

      Cooperative
        Shares:
        The
        shares of stock issued by a Cooperative, owned by the Mortgagor, and allocated
        to a Cooperative Apartment.

      

      Covered
        Loan:
        A
        Mortgage Loan categorized as “Covered” pursuant to the Standard & Poor’s
        Glossary for File Format for LEVELS® Version 5.6, Appendix E, as revised from
        time to time and in effect on each related Closing Date.

       

      Custodial
        Account:
        The
        separate account or accounts created and maintained pursuant to Section
        4.04.

      

      Custodial
        Agreement:
        The
        agreement governing the retention of the originals of each Mortgage Note,
        Mortgage, Assignment of Mortgage and other Mortgage Loan Documents, a form
        of
        which is annexed hereto as Exhibit B.

      

      Custodial
        Mortgage File:
        The
        items referred to as items (1), (2), (4), (5) and (10) in Exhibit C annexed
        hereto to be delivered by the Company to the Custodian on the related Closing
        Date with respect to a particular Mortgage Loan, and any additional documents
        required to be added to the Custodial Mortgage File and delivered to the
        custodian pursuant to this Agreement.

      

      Custodian:
        The
        custodian under the Custodial Agreement, or its successor in interest or
        assigns, or any successor to the Custodian under the Custodial Agreement
        as
        provided therein.

      

      Cut-off
        Date:
        With
        respect to each Transaction, the first day of the month in which the related
        Closing Date occurs.

      

      Deleted
        Mortgage Loan:
        A
        Mortgage Loan which is repurchased by the Company in accordance with the
        terms
        of this Agreement and which is, in the case of a substitution pursuant to
        Section 3.03, replaced or to be replaced with a Qualified Substitute Mortgage
        Loan.

      

      Depositor:
        The
        depositor, as such term is defined in Regulation AB, with respect to any
        Securitization Transaction.

      

      Determination
        Date:
        The
        Business Day immediately preceding the related Remittance Date.

      

      Due
        Date:
        The
        first day of the month on which the Monthly Payment is due on a Mortgage
        Loan,
        exclusive of any days of grace.

      

      Due
        Period:
        With
        respect to each Remittance Date, the period commencing on the second day
        of the
        month preceding the month of the Remittance Date and ending in the first
        day of
        the month of the Remittance Date.

      

      Electronic
        Data File:
        The
        final electronic file of the Mortgage Loans, in relation to each Transaction,
        provided by Company to the Purchaser on or before the related Closing
        Date.

      

      Errors
        and Omissions Insurance Policy:
        An
        errors and omissions insurance policy to be maintained by the Company pursuant
        to Section 4.12.

      

      Escrow
        Account:
        The
        separate account or accounts created and maintained pursuant to Section 4.06.
        

      

      Escrow
        Payments:
        With
        respect to any Mortgage Loan, the amounts constituting ground rents, taxes,
        assessments, water rates, sewer rents, municipal charges, mortgage insurance
        premiums, fire and hazard insurance premiums, condominium charges, and any
        other
        payments required to be escrowed by the Mortgagor with the mortgagee pursuant
        to
        the Mortgage or any other related document.

      

      Event
        of Default:
        Any one
        of the conditions or circumstances enumerated in Section 10.01.

      

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

      

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

      

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

      

      Fidelity
        Bond:
        A
        fidelity bond to be maintained by the Company pursuant to Section
        4.12.

      

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

      

      Gross
        Margin:
        With
        respect to each adjustable rate Mortgage Loan, the fixed percentage amount
        set
        forth in the related Mortgage Note which is added to the Index in order to
        determine the related Interest Rate, as set forth in the Mortgage Loan
        Schedule.

      

      High
        Cost Loan:
        A
        Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and
        Equity Protection Act of 1994, (b) a “high cost home,” “threshold,” “covered,”
“high risk home,” “predatory” or similar loan under any other applicable state,
        federal or local law or (c) a Mortgage Loan categorized as “High Cost” pursuant
        to the Standard & Poor’s Glossary for File Format for LEVELS® Version 5.6,
        Appendix E, as revised from time to time and in effect on each related Closing
        Date. 

       

      Home
        Loan:
        A
        Mortgage Loan categorized as “Home Loan” pursuant to the Standard & Poor’s
        Glossary for File Format for LEVELS® Version 5.6, Appendix E, as revised from
        time to time and in effect on each related Closing Date.

      

      Incremental
        Interest:
        As to
        any Incremental Rate Mortgage Loan, the amount of interest accrued on such
        Mortgage Loan attributable to the Incremental Rate; provided, however, that
        with
        respect to any payment of interest received in respect of such a Mortgage
        Loan
        (whether paid by the Mortgagor or received as Liquidation Proceeds or otherwise)
        which is less than the full amount of interest then due with respect to such
        Mortgage Loan, only that portion of such payment of interest that bears the
        same
        relationship to the total amount of such payment of interest as the Incremental
        Rate, if any, in respect of such Mortgage Loan bears to the Mortgage Interest
        Rate shall be allocated to the Incremental Interest with respect
        thereto.

      

      Incremental
        Rate:
        For an
        Incremental Rate Mortgage Loan, the per annum increase to the initial Mortgage
        Interest Rate set forth in the addendum to the related Mortgage Note, which
        increase takes effect upon the occurrence of certain specified conditions
        prior
        to the first Adjustment Date and remains in effect until the first Adjustment
        Date.

      

      Incremental
        Rate Mortgage Loan:
        A
        Mortgage Loan for which the related Mortgage Note includes an addendum that
        allows for an increase to the initial Mortgage Interest Rate upon the occurrence
        of certain specified conditions.

      

      Index:
        With
        respect to any adjustable rate Mortgage Loan, the index identified on the
        Mortgage Loan Schedule and set forth in the related Mortgage Note for the
        purpose of calculating the interest thereon.

      

      Insurance
        Proceeds:
        With
        respect to each Mortgage Loan, proceeds of insurance policies insuring the
        Mortgage Loan or the related Mortgaged Property.

      

      Interest
        Only Mortgage Loan:
        A
        Mortgage Loan for which an interest-only payment feature is allowed during
        the
        interest-only period set forth in the related Mortgage Note.

      

      Lender
        Paid Mortgage Insurance Policy or LPMI Policy:
        A PMI
        Policy for which the Company pays all premiums from its own funds, without
        reimbursement therefor.

      

      Liquidation
        Proceeds:
        Cash
        received in connection with the liquidation of a defaulted Mortgage Loan,
        whether through the sale or assignment of such Mortgage Loan, trustee's sale,
        foreclosure sale or otherwise, or the sale of the related Mortgaged Property
        if
        the Mortgaged Property is acquired in satisfaction of the Mortgage
        Loan.

      

      Loan-to-Value
        Ratio or LTV:
        With
        respect to any Mortgage Loan, the ratio of the original loan amount of the
        Mortgage Loan at its origination (unless otherwise indicated) to the Appraised
        Value of the Mortgaged Property.

      

      MERS:
        Mortgage Electronic Registration Systems, Inc., a Delaware corporation, or
        any
        successor in interest thereto.

      

      MERS
        Mortgage Loan:
        Any
        Mortgage Loan registered with MERS on the MERS System

      

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

      

      MIN:
        Mortgage Identification Number used to identify mortgage loans registered
        under
        MERS.

      

      Monthly
        Advance:
        The
        portion of each Monthly Payment that is delinquent with respect to each Mortgage
        Loan at the close of business on the Determination Date, required to be advanced
        by the Company pursuant to Section 5.03 on the Business Day immediately
        preceding the Remittance Date of the related month.

      

      Monthly
        Payment:
        The
        scheduled monthly payment of principal and interest on a Mortgage Loan or
        in the
        case of an Interest Only Mortgage Loan, payments of (i) interest, or (ii)
        principal and interest, if applicable, on a Mortgage Loan.

      

      Mortgage:
        The
        mortgage, deed of trust or other instrument securing a Mortgage Note, which
        creates a first lien on an unsubordinated estate in fee simple in real property
        securing the Mortgage Note or the Pledge Agreement securing the Mortgage
        Note
        for a Cooperative Loan.

      

      Mortgage
        Impairment Insurance Policy:
        A
        mortgage impairment or blanket hazard insurance policy as described in Section
        4.11.

      

      Mortgage
        Interest Rate:
        The
        annual rate of interest borne on a Mortgage Note in accordance with the
        provisions of the Mortgage Note.

      

      Mortgage
        Loan:
        An
        individual mortgage loan which is the subject of this Agreement, each Mortgage
        Loan originally sold and subject to this Agreement being identified on the
        Mortgage Loan Schedule, which Mortgage Loan includes without limitation the
        Retained Mortgage File, the Custodial Mortgage File, the Monthly Payments,
        Principal Prepayments, Liquidation Proceeds, Condemnation Proceeds, Insurance
        Proceeds, REO Disposition Proceeds and all other rights, benefits, proceeds
        and
        obligations arising from or in connection with such Mortgage Loan.

      

      Mortgage
        Loan Documents:
        With
        respect to a Mortgage Loan, the original related Mortgage Note with applicable
        addenda and riders, the original related Security Instrument and the originals
        of any required addenda and riders, the original related Assignment and any
        original intervening related Assignments, the original related title insurance
        policy and evidence of the related PMI Policy, if any.

      

      Mortgage
        Loan Remittance Rate:
        With
        respect to each Mortgage Loan, the annual rate of interest remitted to the
        Purchaser, which shall be equal to the Mortgage Interest Rate minus the
        Servicing Fee Rate.

      

      Mortgage
        Loan Schedule:
        With
        respect to each Transaction, a schedule of Mortgage Loans, which shall be
        attached to the related Assignment and Conveyance Agreement, setting forth
        the
        following information with respect to each Mortgage Loan: (1) the Company’s
        Mortgage Loan number; (2) the city state and zip code of the Mortgaged Property;
        (3) a code indicating whether the Mortgaged Property is a single family
        residence, two-family residence, three-family residence, four-family residence,
        a Cooperative Loan, planned unit development or condominium; (4) the current
        Mortgage Interest Rate; (5) the current net Mortgage Interest Rate; (6) the
        current Monthly Payment; (7) the Gross Margin; (8) the original term to
        maturity; (9) the scheduled maturity date; (10) the principal balance of
        the
        Mortgage Loan as of the related Cut-off Date after deduction of payments
        of
        principal due on or before the related Cut-off Date whether or not collected;
        (11) the Loan-to-Value; (12) the next Adjustment Date; (13) the lifetime
        Mortgage Interest Rate cap; (14) whether the Mortgage Loan is convertible
        or
        not; (15) a code indicating the mortgage guaranty insurance company; (16)
        a code
        indicating whether the Mortgage Loan contains pledged assets; (17) a code
        indicating whether the Mortgage Loan has balloon payments; (18) a code
        indicating whether the Mortgage Loan is an Interest Only Mortgage Loan;
(16)
        a
        field indicating whether the Mortgage Loan is a Home Loan; and
        (17)
        the Servicing Fee.

      

      Mortgage
        Note:
        The
        note or other evidence of the indebtedness of a Mortgagor secured by a
        Mortgage.

      

      Mortgaged
        Property:
        The
        real property securing repayment of the debt evidenced by a Mortgage Note,
        or
        with respect to a Cooperative Loan, the Cooperative Apartment.

      

      Mortgagor:
        The
        obligor on a Mortgage Note.

      

      Officer's
        Certificate:
        A
        certificate signed by the Chairman of the Board or the Vice Chairman of the
        Board or the President or a Vice President or an Assistant Vice President
        and
        certified by the Treasurer or the Secretary or one of the Assistant Treasurers
        or Assistant Secretaries of the Company, and delivered to the Purchaser as
        required by this Agreement.

      

      Opinion
        of Counsel:
        A
        written opinion of counsel, who may be an employee of the Company, reasonably
        acceptable to the Purchaser.

      

      Periodic
        Interest Rate Cap:
        As to
        each adjustable rate Mortgage Loan, the maximum increase or decrease in the
        Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the
        Mortgage Note.

      

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

      

      Pledge
        Agreement:
        With
        respect to a Cooperative Loan, the specific agreement creating a first lien
        on
        and pledge of the Cooperative Shares and the appurtenant Proprietary
        Lease.

       

      Pledge
        Instruments:
        With
        respect to a Cooperative Loan, the Stock Power, the Assignment of the
        Proprietary Lease and the Assignment of the Mortgage Note and Pledge
        Agreement.

       

      PMI
        Policy:
        A
        policy of primary mortgage guaranty insurance evidenced by an electronic
        form
        and certificate number issued by a Qualified Insurer, as required by this
        Agreement with respect to certain Mortgage Loans.

      

      Prime
        Rate:
        The
        prime rate announced to be in effect from time to time, as published as the
        average rate in The
        Wall Street Journal.

      

      Principal
        Prepayment:
        Any
        payment or other recovery of principal on a Mortgage Loan which is received
        in
        advance of its scheduled Due Date, including any prepayment penalty or premium
        thereon and which is not accompanied by an amount of interest representing
        scheduled interest due on any date or dates in any month or months subsequent
        to
        the month of prepayment.

      

      Principal
        Prepayment Period:
        The
        month preceding the month in which the related Remittance Date
        occurs.

      

      Project:
        With
        respect to a Cooperative Loan, all real property owned by the related
        Cooperative including the land, separate dwelling units and all common
        areas.

       

      Proprietary
        Lease:
        With
        respect to a Cooperative Loan, a lease on a Cooperative Apartment evidencing
        the
        possessory interest of the Mortgagor in such Cooperative Apartment. 

       

      Purchaser:
        EMC
        Mortgage Corporation, or its successor in interest or any successor to the
        Purchaser under this Agreement as herein provided.

      

      Purchase
        Price:
        The
        purchase price for each Loan Package shall be as stated in the related
        Commitment Letter.

      

      Qualified
        Correspondent:
        Any
        Person from which the Company purchased Mortgage Loans, provided that the
        following conditions are satisfied: (i) such Mortgage Loans were originated
        pursuant to an agreement between the Company and such Person that contemplated
        that such person would underwrite mortgage loans from time to time, for sale
        to
        the Company, in accordance with underwriting guidelines designated by the
        Company (“Designated Guidelines”) or guidelines that do not vary materially from
        such Designated Guidelines; (ii) such Mortgage Loans were in fact underwritten
        as described in clause (i) above and were acquired by the Company within
        180
        days after origination; (iii) either (x) the Designated Guidelines were,
        at the
        time such Mortgage Loans were originated, used by the Company in origination
        of
        mortgage loans of the same type as the Mortgage Loans for the Company’s own
        account or (y) the Designated Guidelines were, at the time such Mortgage
        Loans
        were underwritten, designated by the Company on a consistent basis for use
        by
        lenders in originating mortgage loans to be purchased by the Company; and
        (iv)
        the Company employed, at the time such Mortgage Loans were acquired by the
        Company, pre-purchased or post-purchased quality assurance procedures (which
        may
        involve, among other things, review of a sample or mortgage loans purchased
        during a particular time period or through particular channels) designed
        to
        ensure that Persons from which it purchased mortgage loans properly applied
        the
        underwriting criteria designated by the Company.

      

      Qualified
        Depository:
        A
        deposit account or accounts maintained with a federal or state chartered
        depository institution the deposits in which are insured by the FDIC to the
        applicable limits and the short-term unsecured debt obligations of which
        (or, in
        the case of a depository institution that is a subsidiary of a holding company,
        the short-term unsecured debt obligations of such holding company) are rated
        A-1
        by Standard & Poor’s Ratings Group or Prime-1 by Moody’s Investors Service,
        Inc. (or a comparable rating if another rating agency is specified by the
        Purchaser by written notice to the Company) at the time any deposits are
        held on
        deposit therein.

      

      Qualified
        Insurer:
        A
        mortgage guaranty insurance company duly authorized and licensed where required
        by law to transact mortgage guaranty insurance business and approved as an
        insurer by Fannie Mae or Freddie Mac.

      

      Qualified
        Substitute Mortgage Loan:
        A
        mortgage loan eligible to be substituted by the Company for a Deleted Mortgage
        Loan which must, on the date of such substitution, (i) have an outstanding
        principal balance, after deduction of all scheduled payments due in the month
        of
        substitution (or in the case of a substitution of more than one mortgage
        loan
        for a Deleted Mortgage Loan, an aggregate principal balance), not in excess
        of
        the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have a Mortgage
        Loan Remittance Rate not less than and not more than two percent (2%) greater
        than the Mortgage Loan Remittance Rate of the Deleted Mortgage Loan; (iii)
        have
        a remaining term to maturity not greater than and not more than one year
        less
        than that of the Deleted Mortgage Loan; (iv) be of the same type as the Deleted
        Mortgage Loan and (v) comply with each representation and warranty set forth
        in
        Sections 3.01 and 3.02.

      

      Rating
        Agency/Agencies:
        Any
        nationally recognized statistical Rating Agency, or its successors, including
        Standard & Poor’s, a division of The McGraw-Hill Companies, Moody’s
        Investors Service, Inc. and Fitch Ratings.

      

      Recognition
        Agreement:
        An
        agreement whereby a Cooperative and a lender with respect to a Cooperative
        Loan
        (i) acknowledge that such lender may make, or intends to make, such Cooperative
        Loan, and (ii) make certain agreements with respect to such Cooperative
        Loan.

      

      Reconstitution:
        Any
        Securitization Transaction or Whole Loan Transfer.

      

      Reconstitution
        Agreement:
        The
        agreement or agreements entered into by the Company and the Purchaser and/or
        certain third parties on the Reconstitution Date or Dates with respect to
        any or
        all of the Mortgage Loans serviced hereunder, in connection with a Whole
        Loan
        Transfer or Securitization Transaction.

      

      Reconstitution
        Date:
        The
        date on which any or all of the Mortgage Loans serviced under this Agreement
        may
        be removed from this Agreement and reconstituted as part of a Securitization
        Transaction, Agency Transfer or Whole Loan Transfer pursuant to Section 9.01
        hereof. The Reconstitution Date shall be such date as the Purchaser shall
        designate. 

      

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

      

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

      

      REMIC
        Provisions:
        Provisions of the federal income tax law relating to a REMIC, which appear
        at
        Section 860A through 860G of Subchapter M of Chapter 1, Subtitle A of the
        Code,
        and related provisions, regulations, rulings or pronouncements promulgated
        thereunder, as the foregoing may be in effect from time to time.

      

      Remittance
        Date:
        The
        18th day (or if such 18th day is not a Business Day, the first Business Day
        immediately following) of any month.

      

      REO
        Disposition:
        The
        final sale by the Company of any REO Property.

      

      REO
        Disposition Proceeds:
        All
        amounts received with respect to an REO Disposition pursuant to Section
        4.16.

      

      REO
        Property:
        A
        Mortgaged Property acquired by the Company on behalf of the Purchaser through
        foreclosure or by deed in lieu of foreclosure, as described in Section
        4.16.

      

      Repurchase
        Price:
        Unless
        agreed otherwise by the Purchaser and the Company, a price equal to (i) the
        Stated Principal Balance of the Mortgage Loan plus (ii) interest on such
        Stated
        Principal Balance at the Mortgage Loan Remittance Rate from the date on which
        interest has last been paid and distributed to the Purchaser through the
        last
        day of the month in which such repurchase takes place, less amounts received
        or
        advanced in respect of such repurchased Mortgage Loan which are being held
        in
        the Custodial Account for distribution in the month of repurchase.

      

      Retained
        Mortgage File:
        The
        items referred to as items (3), (6), (7), (8) and (9) in Exhibit C annexed
        hereto with respect to a particular Mortgage Loan that are not required to
        be
        delivered to the Custodian pursuant to this Agreement, and any additional
        documents required to be added to the Retained Mortgage File pursuant to
        this
        Agreement.

      

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

      

      Securitization
        Transaction:
        Any
        transaction involving either (a) a sale or other transfer of some or all
        of the
        Mortgage Loans directly or indirectly to an issuing entity in connection
        with an
        issuance of publicly offered or privately placed, rated or unrated
        mortgage-backed securities or (b) an issuance of publicly offered or privately
        placed, rated or unrated securities, the payments on which are determined
        primarily by reference to one or more portfolios of residential mortgage
        loans
        consisting, in whole or in part, of some or all of the Mortgage
        Loans.

      

      Servicer:
        As
        defined in Section 9.01(e)(iii).

      

      Servicing
        Advances:
        All
        customary, reasonable and necessary "out of pocket" costs and expenses other
        than Monthly Advances (including reasonable attorney's fees and disbursements)
        incurred in the performance by the Company of its servicing obligations,
        including, but not limited to, the cost of (a) the preservation, restoration
        and
        protection of the Mortgaged Property, (b) any enforcement or judicial
        proceedings, including foreclosures, (c) the management and liquidation of
        any
        REO Property and (d) compliance with the obligations under Section 4.08 and
        4.10
        (excluding the Company’s obligations to pay the premiums on LPMI
        Policies).

      

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

      

      Servicing
        Fee:
        With
        respect to each Mortgage Loan, the amount of the annual fee the Purchaser
        shall
        pay to the Company, which shall, for a period of one full month, be equal
        to
        one-twelfth of the product of (a) the Servicing Fee Rate and (b) the outstanding
        principal balance of such Mortgage Loan. Such fee shall be payable monthly,
        computed on the basis of the same principal amount and period respecting
        which
        any related interest payment on a Mortgage Loan is received. The obligation
        of
        the Purchaser to pay the Servicing Fee is limited to, and the Servicing Fee
        is
        payable solely from, the interest portion (including recoveries with respect
        to
        interest from Liquidation Proceeds, to the extent permitted by Section 4.05)
        of
        such Monthly Payment collected by the Company, or as otherwise provided under
        Section 4.05.

      

      Servicing
        Fee Rate:
        The per
        annum percentage for each Mortgage Loan, as stated in the Commitment
        Letter.

      

      Servicing
        File:
        With
        respect to each Mortgage Loan, the file retained by the Company consisting
        of
        originals of all documents in the Retained Mortgage File which are not delivered
        to the Custodian and copies of the Mortgage Loan Documents listed in the
        Custodial Agreement the originals of which are delivered to the Custodian
        pursuant to Section 2.03.

      

      Servicing
        Officer:
        Any
        officer of the Company involved in or responsible for the administration
        and
        servicing of the Mortgage Loans whose name appears on a list of servicing
        officers furnished by the Company to the Purchaser upon request, as such
        list
        may from time to time be amended.

      

      Stated
        Principal Balance:
        As to
        each Mortgage Loan, (i) the principal balance of the Mortgage Loan at the
        related Cut-off Date after giving effect to payments of principal due on
        or
        before such date, whether or not received, minus (ii) all amounts previously
        distributed to the Purchaser with respect to the related Mortgage Loan
        representing payments or recoveries of principal or advances in lieu thereof.
        

      

      Static
        Pool Information:
        Static
        pool information as described in Item 1105(a)(1)-(3) and 1105(c) of Regulation
        AB.

      

      Stock
        Certificate:
        With
        respect to a Cooperative Loan, a certificate evidencing ownership of the
        Cooperative Shares issued by the Cooperative.

       

      Stock
        Power:
        With
        respect to a Cooperative Loan, an assignment of the Stock Certificate or
        an
        assignment of the Cooperative Shares issued by the Cooperative. 

       

      Subcontractor:
        Any
        vendor, subcontractor or other Person that is not responsible for the overall

        servicing (as “servicing” is commonly understood by participants in the
        mortgage-backed securities market) of Mortgage Loans but performs one or
        more
        discrete functions identified in Item 1122(d) of Regulation AB with respect
        to
        Mortgage Loans under the direction or authority of the Company or a
        Subservicer.

       

      Subservicer:
        Any
        Person that services Mortgage Loans on behalf of the Company or any Subservicer
        and is responsible for the performance (whether directly or through Subservicers
        or Subcontractors) of a substantial portion of the material servicing functions
        required to be performed by the Company under this Agreement or any
        Reconstitution Agreement that are identified in Item 1122(d) of Regulation
        AB.

       

      Subsidy
        Account:
        An
        account maintained by the Company specifically to hold all Subsidy Funds
        to be
        applied to individual Subsidy Loans.

      

      Subsidy
        Funds:
        With
        respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor
        in order to reduce the payments required from the Mortgagor for a specified
        period in specified amounts.

      

      Subsidy
        Loan:
        Any
        Mortgage Loan subject to a temporary interest subsidy agreement pursuant
        to
        which the monthly interest payments made by the related Mortgagor will be
        less
        than the scheduled monthly interest payments on such Mortgage Loan, with
        the
        resulting difference in interest payments being provided by the employer
        of the
        Mortgagor. Each Subsidy Loan will be identified as such in the related
        Electronic Data File.

      

      Third-Party
        Originator:
        Each
        Person, other than a Qualified Correspondent, that originated Mortgage Loans
        acquired by the Company.

      

      Time$aver®
        Mortgage Loan:
        A
        Mortgage Loan which has been refinanced pursuant to a Company program that
        allows a rate/term refinance of an existing Company serviced loan with minimal
        documentation.

      

      Whole
        Loan Transfer:
        Any
        sale or transfer of some or all of the Mortgage Loans by the Purchaser to
        a
        third party, which sale or transfer is not a Securitization Transaction or
        Agency Transfer.

      

       

      ARTICLE
        II

       

      

       

      CONVEYANCE
        OF MORTGAGE LOANS; POSSESSION OF MORTGAGE FILES; BOOKS AND RECORDS; CUSTODIAL
        AGREEMENT; DELIVERY OF DOCUMENTS

      

      Section
        2.01 Conveyance
        of Mortgage Loans; Possession of Custodial Mortgage Files; 

      Maintenance
        of Retained Mortgage Files and Servicing Files.

      

      Pursuant
        to an Assignment and Conveyance Agreement, on the related Closing Date, the
        Company, simultaneously with the payment of the Purchase Price by the Purchaser,
        shall thereby sell, transfer, assign, set over and convey to the Purchaser,
        without recourse, but subject to the terms of this Agreement and the related
        Assignment and Conveyance Agreement, all the right, title and interest of
        the
        Company in and to the Mortgage Loans listed on the respective Mortgage Loan
        Schedule annexed to such Assignment and Conveyance Agreement, together with
        the
        Retained Mortgage Files and Custodial Mortgage Files and all rights and
        obligations arising under the documents contained therein. Pursuant to Section
        2.03, the Company shall deliver the Custodial Mortgage File for each Mortgage
        Loan comprising the related Loan Package to the Custodian.

      

      The
        contents of each Retained Mortgage File not delivered to the Custodian are
        and
        shall be held in trust by the Company for the benefit of the Purchaser as
        the
        owner thereof. The Company shall maintain a Servicing File consisting of
        a copy
        of the contents of each Custodial Mortgage File and the originals of the
        documents in each Retained Mortgage File not delivered to the Custodian.
        The
        possession of each Retained Mortgage File and Servicing File by the Company
        is
        at the will of the Purchaser for the sole purpose of servicing the related
        Mortgage Loan, and such retention and possession by the Company is in a
        custodial capacity only. Upon the sale of the Mortgage Loans the ownership
        of
        each Mortgage Note, the related Mortgage and the related Custodial Mortgage
        File
        and Servicing File shall vest immediately in the Purchaser, and the ownership
        of
        all records and documents with respect to the related Mortgage Loan prepared
        by
        or which come into the possession of the Company shall vest immediately in
        the
        Purchaser and shall be retained and maintained by the Company, in trust,
        at the
        will of the Purchaser and only in such custodial capacity. The Company shall
        release its custody of the contents of any Servicing File only in accordance
        with written instructions from the Purchaser, unless such release is required
        as
        incidental to the Company's servicing of the Mortgage Loans or is in connection
        with a repurchase of any Mortgage Loan pursuant to Section 3.03 or 6.02.
        All
        such costs associated with the release, transfer and re-delivery to the Company
        shall be the responsibility of the Purchaser other than any related recording
        costs (especially in instances of breach).

      

      In
        addition, in connection with the assignment of any MERS Mortgage Loan, the
        Company agrees that it will cause, the MERS® System to indicate that such
        Mortgage Loans have been assigned by the Company to the Purchaser in accordance
        with this Agreement by including (or deleting, in the case of Mortgage Loans
        which are repurchased in accordance with this Agreement) in such computer
        files
        the information required by the MERS® System to identify the Purchaser as
        beneficial owner of such Mortgage Loans. 

      

      Section
        2.02 Books
        and Records; Transfers of Mortgage Loans.

      

      From
        and
        after the sale of the Mortgage Loans to the Purchaser in the related Loan
        Package on each Closing Date, all rights arising out of such Mortgage Loans
        including but not limited to all funds received on or in connection with
        such
        Mortgage Loans, shall be received and held by the Company in trust for the
        benefit of the Purchaser as owner of such Mortgage Loans, and the Company
        shall
        retain record title to the related Mortgages for the sole purpose of
        facilitating the servicing and the supervision of the servicing of such Mortgage
        Loans.

      

      The
        sale
        of each Mortgage Loan shall be reflected on the Company's balance sheet and
        other financial statements as a sale of assets by the Company. The Company
        shall
        be responsible for maintaining, and shall maintain, a complete set of books
        and
        records for each Mortgage Loan which shall be marked clearly to reflect the
        ownership of each Mortgage Loan by the Purchaser. In particular, the Company
        shall maintain in its possession, available for inspection by the Purchaser,
        or
        its designee, and shall deliver to the Purchaser upon demand, evidence of
        compliance with all federal, state and local laws, rules and regulations,
        and
        requirements of Fannie Mae or Freddie Mac, including but not limited to
        documentation as to the method used in determining the applicability of the
        provisions of the Flood Disaster Protection Act of 1973, as amended, to the
        Mortgaged Property, documentation evidencing insurance coverage and eligibility
        of any condominium project for approval by Fannie Mae or Freddie Mac and
        records
        of periodic inspections as required by Section 4.13. To the extent that original
        documents are not required for purposes of realization of Liquidation Proceeds
        or Insurance Proceeds, documents maintained by the Company may be in the
        form of
        microfilm or microfiche or such other reliable means of recreating original
        documents, including but not limited to, optical imagery techniques so long
        as
        the Company complies with the requirements of the Fannie Mae Selling and
        Servicing Guide, as amended from time to time.

      

      The
        Company shall maintain with respect to each Mortgage Loan and shall make
        available for inspection by any Purchaser or its designee the related Servicing
        File during the time the Purchaser retains ownership of such Mortgage Loan
        and
        thereafter in accordance with applicable laws and regulations.

      

      The
        Company shall keep at its servicing office books and records in which, subject
        to such reasonable regulations as it may prescribe, the Company shall note
        transfers of Mortgage Loans. No transfer of a Mortgage Loan may be made unless
        such transfer is in compliance with the terms hereof. For the purposes of
        this
        Agreement, the Company shall be under no obligation to deal with any Person
        with
        respect to this Agreement or the Mortgage Loans unless the books and records
        show such Person as the owner of the Mortgage Loan. The Purchaser may, subject
        to the terms of this Agreement, sell and transfer one or more of the Mortgage
        Loans. The Purchaser also shall advise the Company of the transfer. Upon
        receipt
        of notice of the transfer, the Company shall mark its books and records to
        reflect the ownership of the Mortgage Loans of such assignee, and shall release
        the previous Purchaser from its obligations hereunder with respect to the
        Mortgage Loans sold or transferred. Such notification of a transfer shall
        include a final loan schedule which shall be received by the Company no fewer
        than five (5) Business Days before the last Business Day of the month. If
        such
        notification is not received as specified above, the Company’s duties to remit
        and report as required by Section 5 shall begin with the next Due
        Period.

      

      Section
        2.03 Custodial
        Agreement; Delivery of Documents.

      

      On
        each
        Closing Date with respect to each Mortgage Loan comprising the related Loan
        Package, the Company shall deliver and release to the Custodian the related
        Custodial Mortgage File as set forth in Exhibit C attached hereto.

      

      The
        Custodian shall certify its receipt of any Mortgage Loan Documents actually
        received on or prior to such Closing Date and as required to be delivered
        pursuant to the Custodial Agreement, as evidenced by the Initial Certification
        of the Custodian in the form annexed to the Custodial Agreement. The Purchaser
        will be responsible for the fees and expenses of the Custodian.

      

      Upon
        the
        Purchaser’s request, the Company shall deliver to Purchaser or its designee
        within ten (10) days after such request such contents of the Retained Mortgage
        file so requested. In the event that the company fails to deliver to the
        Purchaser or its designee the requested contents of the Retained Mortgage
        File
        within such ten-day period, and if the Company does not cure such failure
        within
        five (5) days following receipt of written notification of such failure,
        the
        Company shall repurchase each related Mortgage Loan at the price and in the
        manner specified in Section 3.03.

      

      The
        Company shall forward to the Custodian original documents evidencing an
        assumption, modification, consolidation or extension of any Mortgage Loan
        entered into in accordance with Section 4.01 or 6.01 within one week of their
        execution, provided, however, that the Company shall provide the Custodian
        with
        a certified true copy of any such document submitted for recordation within
        ten
        (10) days of its execution, and shall provide the original of any document
        submitted for recordation or a copy of such document certified by the
        appropriate public recording office to be a true and complete copy of the
        original within sixty days of its submission for recordation.

      

      In
        the
        event the public recording office is delayed in returning any original document
        which the Company is required to deliver at any time to the Custodian in
        accordance with the terms of the Custodial Agreement or which the Company
        is
        required to maintain in the related Retained Mortgage File, the Company shall
        deliver to the Custodian or to the Retained Mortgage File, as applicable,
        within
        240 days of its submission for recordation, a copy of such document and an
        Officer's Certificate, which shall (i) identify the recorded document; (ii)
        state that the recorded document has not been delivered to the Custodian
        due
        solely to a delay by the public recording office, (iii) state the amount
        of time
        generally required by the applicable recording office to record and return
        a
        document submitted for recordation, and (iv) specify the date the applicable
        recorded document will be delivered to the Custodian. The Company will be
        required to deliver such document to the Custodian or to the Retained Mortgage
        File, as applicable, by the date specified in (iv) above. An extension of
        the
        date specified in (iv) above may be requested from the Purchaser, which consent
        shall not be unreasonably withheld.

      

      In
        the
        event that new, replacement, substitute or additional Stock Certificates
        are
        issued with respect to existing Cooperative Shares, the Company immediately
        shall deliver to the Custodian the new Stock Certificates, together with
        the
        related Stock Powers in blank. Such new Stock Certificates shall be subject
        to
        the related Pledge Instruments and shall be subject to all of the terms,
        covenants and conditions of this Agreement.

      

       

      ARTICLE
        III

       

      REPRESENTATIONS
        AND WARRANTIES REMEDIES AND BREACH

       

      

      Section
        3.01 Company
        Representations and Warranties.

      The
        Company hereby represents and warrants to the Purchaser that, as of the related
        Closing Date:

      

      
        	 	
                (a)

              	
                Due
                  Organization and Authority.

              

      

      

      
        	 	 	
                The
                  Company is a national banking association duly organized, validly
                  existing
                  and in good standing under the laws of the United States and has
                  all
                  licenses necessary to carry on its business as now being conducted
                  and is
                  licensed, qualified and in good standing in each state where a
                  Mortgaged
                  Property is located if the laws of such state require licensing
                  or
                  qualification in order to conduct business of the type conducted
                  by the
                  Company, and in any event the Company is in compliance with the
                  laws of
                  any such state to the extent necessary to ensure the enforceability
                  of the
                  related Mortgage Loan and the servicing of such Mortgage Loan in
                  accordance with the terms of this Agreement; the Company has the
                  full
                  power and authority to execute and deliver this Agreement and to
                  perform
                  in accordance herewith; the execution, delivery and performance
                  of this
                  Agreement (including all instruments of transfer to be delivered
                  pursuant
                  to this Agreement) by the Company and the consummation of the transactions
                  contemplated hereby have been duly and validly authorized; this
                  Agreement
                  evidences the valid, binding and enforceable obligation of the
                  Company;
                  and all requisite action has been taken by the Company to make
                  this
                  Agreement valid and binding upon the Company in accordance with
                  its
                  terms;

              

      

      

      
        	 	
                (b)

              	
                Ordinary
                  Course of Business.

              

      

      

      
        	 	 	
                The
                  consummation of the transactions contemplated by this Agreement
                  are in the
                  ordinary course of business of the Company, who is in the business
                  of
                  selling and servicing loans, and the transfer, assignment and conveyance
                  of the Mortgage Notes and the Mortgages by the Company pursuant
                  to this
                  Agreement are not subject to the bulk transfer or any similar statutory
                  provisions in effect in any applicable
                  jurisdiction;

              

      

      

      
        	 	
                (c)

              	
                No
                  Conflicts.

              

      

      

      
        	 	 	
                Neither
                  the execution and delivery of this Agreement, the acquisition of
                  the
                  Mortgage Loans by the Company, the sale of the Mortgage Loans to
                  the
                  Purchaser or the transactions contemplated hereby, nor the fulfillment
                  of
                  or compliance with the terms and conditions of this Agreement will
                  conflict with or result in a breach of any of the terms, articles
                  of
                  incorporation or by-laws or any legal restriction or any agreement
                  or
                  instrument to which the Company is now a party or by which it is
                  bound, or
                  constitute a default or result in the violation of any law, rule,
                  regulation, order, judgment or decree to which the Company or its
                  property
                  is subject, or impair the ability of the Purchaser to realize on
                  the
                  Mortgage Loans, or impair the value of the Mortgage
                  Loans;

              

      

      

      
        	 	
                (d)

              	
                Ability
                  to Service.

              

      

      

      
        	 	 	
                The
                  Company is an approved seller/servicer of conventional residential
                  mortgage loans for Fannie Mae or Freddie Mac, with the facilities,
                  procedures, and experienced personnel necessary for the sound servicing
                  of
                  mortgage loans of the same type as the Mortgage Loans. The Company
                  is in
                  good standing to sell mortgage loans to and service mortgage loans
                  for
                  Fannie Mae or Freddie Mac, and no event has occurred, including
                  but not
                  limited to a change in insurance coverage, which would make the
                  Company
                  unable to comply with Fannie Mae or Freddie Mac eligibility requirements
                  or which would require notification to either Fannie Mae or Freddie
                  Mac;

              

      

      

      
        	 	
                (e)

              	
                Reasonable
                  Servicing Fee.

              

      

      

      
        	 	 	
                The
                  Company acknowledges and agrees that the Servicing Fee represents
                  reasonable compensation for performing such services and that the
                  entire
                  Servicing Fee shall be treated by the Company, for accounting and
                  tax
                  purposes, as compensation for the servicing and administration
                  of the
                  Mortgage Loans pursuant to this
                  Agreement;

              

      

      

      
        	 	
                (f)

              	
                Ability
                  to Perform.

              

      

      

      
        	 	 	
                The
                  Company does not believe, nor does it have any reason or cause
                  to believe,
                  that it cannot perform each and every covenant contained in this
                  Agreement. The Company is solvent and the sale of the Mortgage
                  Loans will
                  not cause the Company to become insolvent. The sale of the Mortgage
                  Loans
                  is not undertaken to hinder, delay or defraud any of the Company's
                  creditors;

              

      

      

      
        	 	
                (g)

              	
                No
                  Litigation Pending.

              

      

      

      
        	 	 	
                There
                  is no action, suit, proceeding or investigation pending or threatened
                  against the Company which, either in any one instance or in the
                  aggregate,
                  may result in any material adverse change in the business, operations,
                  financial condition, properties or assets of the Company, or in
                  any
                  material impairment of the right or ability of the Company to carry
                  on its
                  business substantially as now conducted, or in any material liability
                  on
                  the part of the Company, or which would draw into question the
                  validity of
                  this Agreement or the Mortgage Loans or of any action taken or
                  to be
                  contemplated herein, or which would be likely to impair materially
                  the
                  ability of the Company to perform under the terms of this
                  Agreement;

              

      

      

      
        	 	
                (h)

              	
                No
                  Consent Required.

              

      

      

      
        	 	 	
                No
                  consent, approval, authorization or order of any court or governmental
                  agency or body is required for the execution, delivery and performance
                  by
                  the Company of or compliance by the Company with this Agreement
                  or the
                  sale of the Mortgage Loans as evidenced by the consummation of
                  the
                  transactions contemplated by this Agreement, or if required, such
                  approval
                  has been obtained prior to the related Closing
                  Date;

              

      

      

      
        	 	
                (i)

              	
                Selection
                  Process.
                  

              

      

      

      The
        Mortgage Loans were selected from among either the outstanding fixed rate
        or
        adjustable rate one- to four-family mortgage loans in the Company's mortgage
        banking portfolio at the related Closing Date as to which the representations
        and warranties set forth in Section 3.02 could be made and such selection
        was
        not made in a manner so as to affect adversely the interests of the
        Purchaser;

      

      
        	 	
                (j)

              	
                No
                  Untrue Information.

              

      

      

      
        	 	 	
                Neither
                  this Agreement nor any statement, report or other document furnished
                  or to
                  be furnished pursuant to this Agreement or in connection with the
                  transactions contemplated hereby contains any untrue statement
                  of fact or
                  omits to state a fact necessary to make the statements contained
                  therein
                  not misleading;

              

      

      

      
        	 	
                (k)

              	
                Sale
                  Treatment.

              

      

      

      
        	 	 	
                The
                  Company has determined that the disposition of the Mortgage Loans
                  pursuant
                  to this Agreement will be afforded sale treatment for accounting
                  and tax
                  purposes; 

              

      

      

      
        	 	
                (l)

              	
                No
                  Material Change.
                  

              

      

      

      
        	 	 	
                There
                  has been no material adverse change in the business, operations,
                  financial
                  condition or assets of the Company since the date of the Company’s most
                  recent financial statements; 

              

      

      

      
        	 	
                (m)

              	
                No
                  Brokers’ Fees.

              

      

      

      
        	 	 	
                The
                  Company has not dealt with any broker, investment banker, agent
                  or other
                  Person that may be entitled to any commission or compensation in
                  the
                  connection with the sale of the Mortgage Loans; and
                  

              

      

      

      
        	 	
                (n)

              	
                MERS.

              

      

      

      The
        Company is a member of MERS in good standing.

      

      

      Section
        3.02 Representations
        and Warranties Regarding Individual Mortgage Loans.

      

      As
        to
        each Mortgage Loan, the Company hereby represents and warrants to the Purchaser
        that as of the related Closing Date:

      

      
        	 	
                (a)

              	
                Mortgage
                  Loans as Described.

              

      

      

      
        	 	 	
                The
                  information set forth in the respective Mortgage Loan Schedule
                  and the
                  information contained on the respective Electronic Data File delivered
                  to
                  the Purchaser is true and correct;

              

      

      

      
        	 	
                (b)

              	
                Payments
                  Current.

              

      

      

      
        	 	 	
                All
                  payments required to be made up to the related Cut-off Date for
                  the
                  Mortgage Loan under the terms of the Mortgage Note have been made
                  and
                  credited. No payment under any Mortgage Loan has been thirty (30)
                  days
                  delinquent more than one time within twelve (12) months prior to
                  the
                  related Closing Date;

              

      

      

      
        	 	
                (c)

              	
                No
                  Outstanding Charges.

              

      

      

      
        	 	 	
                There
                  are no defaults in complying with the terms of the Mortgages, and
                  all
                  taxes, governmental assessments, insurance premiums, leasehold
                  payments,
                  water, sewer and municipal charges, which previously became due
                  and owing
                  have been paid, or an escrow of funds has been established in an
                  amount
                  sufficient to pay for every such item which remains unpaid and
                  which has
                  been assessed but is not yet due and payable. The Seller has not
                  advanced
                  funds, or induced, solicited directly or indirectly, the payment
                  of any
                  amount required under the Mortgage Loan, except for interest accruing
                  from
                  the date of the Mortgage Note or date of disbursement of the Mortgage
                  Loan
                  proceeds, whichever is later, to the day which precedes by one
                  month the
                  Due Date of the first installment of principal and
                  interest;

              

      

      

      
        	 	
                (d)

              	
                Original
                  Terms Unmodified.

              

      

      

      
        	 	 	
                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 which has been delivered to the Custodian. The substance of
                  any such
                  waiver, alteration or modification has been approved by the issuer
                  of any
                  related PMI Policy and the title insurer, to the extent required
                  by the
                  policy, and its terms are reflected on the related Mortgage Loan
                  Schedule.
                  No Mortgagor has been released, in whole or in part, except in
                  connection
                  with an assumption agreement approved by the issuer of any related
                  PMI
                  Policy and the title insurer, to the extent required by the policy,
                  and
                  which assumption agreement was delivered to the Custodian pursuant
                  to the
                  terms of the Custodial Agreement;

              

      

      

      
        	 	
                (e)

              	
                No
                  Defenses.

              

      

      

      
        	 	 	
                The
                  Mortgage Loan is not subject to any right of rescission, set-off,
                  counterclaim or defense, including without limitation the defense
                  of
                  usury, nor will the operation of any of the terms of the Mortgage
                  Note or
                  the Mortgage, or the exercise of any right thereunder, render either
                  the
                  Mortgage Note or the Mortgage unenforceable, in whole or in part,
                  or
                  subject to any right of rescission, set-off, counterclaim or defense,
                  including without limitation the defense of usury, and no such
                  right of
                  rescission, set-off, counterclaim or defense has been asserted
                  with
                  respect thereto;

              

      

      

      
        	 	
                (f)

              	
                No
                  Satisfaction of Mortgage.

              

      

      

      
        	 	 	
                The
                  Mortgage has not been satisfied, canceled, subordinated or rescinded,
                  in
                  whole or in part, and the 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 release, cancellation, subordination
                  or rescission;

              

      

      

      
        	 	
                (g)

              	
                Validity
                  of Mortgage Documents.

              

      

      

      
        	 	 	
                The
                  Mortgage Note and the Mortgage and related documents are genuine,
                  and each
                  is the legal, valid and binding obligation of the maker thereof
                  enforceable in accordance with its terms. All parties to the Mortgage
                  Note
                  and the Mortgage had legal capacity to enter into the Mortgage
                  Loan and to
                  execute and deliver the Mortgage Note and the Mortgage, and the
                  Mortgage
                  Note and the Mortgage have been duly and properly executed by such
                  parties;

              

      

      

      With
        respect to each Cooperative Loan, the Mortgage Note, the Mortgage, the Pledge
        Agreement, and related documents are genuine, and each is the legal, valid
        and
        binding obligation of the maker thereof enforceable in accordance with its
        terms. All parties to the Mortgage Note, the Mortgage, the Pledge Agreement,
        the
        Proprietary Lease, the Stock Power, Recognition Agreement and the Assignment
        of
        Proprietary Lease had legal capacity to enter into the Mortgage Loan and
        to
        execute and deliver such documents, and such documents have been duly and
        properly executed by such parties;

      

      

      (h) No
        Fraud.

      

      
        	 	 	
                No
                  error, omission, misrepresentation, negligence, fraud or similar
                  occurrence with respect to a Mortgage Loan has taken place on the
                  part of
                  the Company, or the Mortgagor, or to the best of the Company’s knowledge,
                  any appraiser, any builder, or any developer, or any other party
                  involved
                  in the origination of the Mortgage Loan or in the application of
                  any
                  insurance in relation to such Mortgage
                  Loan;

              

      

      

      
        	 	
                (i)

              	
                Compliance
                  with Applicable Laws.

              

      

      

      
        	 	 	
                Any
                  and all requirements of any federal, state or local law including,
                  without
                  limitation, usury, truth-in-lending, real estate settlement procedures,
                  consumer credit and privacy protection, equal credit opportunity,
                  disclosure or predatory and abusive lending laws applicable to
                  the
                  Mortgage Loan have been complied with, and the Company shall maintain
                  in
                  its possession, available for the Purchaser's inspection, and shall
                  deliver to the Purchaser upon demand, evidence of compliance with
                  all such
                  requirements. All inspections, licenses and certificates required
                  to be
                  made or issued with respect to all occupied portions of the Mortgaged
                  Property and, with respect to the use and occupancy of the same,
                  including
                  but not limited to certificates of occupancy and fire underwriting
                  certificates, have been made or obtained from the appropriate
                  authorities;

              

      

      

      
        	 	
                (j)

              	
                Location
                  and Type of Mortgaged Property.

              

      

      

      
        	 	 	
                The
                  Mortgaged Property is located in the state identified in the related
                  Mortgage Loan Schedule and consists of a single, contiguous parcel
                  of real
                  property with a detached single family residence erected thereon,
                  or a
                  two- to four-family dwelling, or an individual condominium unit
                  in a
                  condominium project, or a Cooperative Apartment, or an individual
                  unit in
                  a planned unit development or a townhouse, provided, however, that
                  any
                  condominium project or planned unit development shall conform with
                  the
                  applicable Fannie Mae requirements, or the underwriting guidelines
                  of the
                  company, regarding such dwellings, and no residence or dwelling
                  is a
                  mobile home. As of the respective date of the appraisal for each
                  Mortgaged
                  Property, any Mortgaged Property being used for commercial purposes
                  conforms to the underwriting guidelines of the Company and, to
                  the best of
                  the Company’s knowledge, since the date of such appraisal, no portion of
                  the Mortgage Property has been used for commercial purposes outside
                  of the
                  underwriting guidelines of the
                  Company;

              

      

      

      (k) Valid
        First Lien.

      

      
        	 	 	
                The
                  Mortgage is a valid, subsisting and enforceable first lien on the
                  Mortgaged Property, including all buildings on the Mortgaged Property
                  and
                  all installations and mechanical, electrical, plumbing, heating
                  and air
                  conditioning systems located in or annexed to such buildings, and
                  all
                  additions, alterations and replacements made at any time with respect
                  to
                  the foregoing. The lien of the Mortgage is subject only
                  to:

              

      

      

      
        	 	
                (1)

              	
                the
                  lien of current real property taxes and assessments not yet due
                  and
                  payable;

              

      

      

      
        	 	
                (2)

              	
                covenants,
                  conditions and restrictions, rights of way, easements and other
                  matters of
                  the public record as of the date of recording acceptable to mortgage
                  lending institutions generally and specifically referred to in
                  the
                  lender's title insurance policy delivered to the originator of
                  the
                  Mortgage Loan and (i) referred to or otherwise considered in the
                  appraisal
                  made for the originator of the Mortgage Loan and (ii) which do
                  not
                  adversely affect the Appraised Value of the Mortgaged Property
                  set forth
                  in such appraisal; and

              

      

      

      
        	 	
                (3)

              	
                other
                  matters to which like properties are commonly subject which do
                  not
                  materially interfere with the benefits of the security intended
                  to be
                  provided by the mortgage or the use, enjoyment, value or marketability
                  of
                  the related Mortgaged Property.

              

      

      

      
        	 	 	
                Any
                  security agreement, chattel mortgage or equivalent document related
                  to and
                  delivered in connection with the Mortgage Loan establishes and
                  creates a
                  valid, subsisting and enforceable first lien and first priority
                  security
                  interest on the property described therein and the Company has
                  full right
                  to sell and assign the same to the Purchaser;

              

      

      

      With
        respect to each Cooperative Loan, each Pledge Agreement creates a valid,
        enforceable and subsisting first security interest in the Cooperative Shares
        and
        Proprietary Lease, subject only to (i) the lien of the related Cooperative
        for
        unpaid assessments representing the Mortgagor’s pro rata share of the
        Cooperative’s payments for its blanket mortgage, current and future real
        property taxes, insurance premiums, maintenance fees and other assessments
        to
        which like collateral is commonly subject and (ii) other matters to which
        like
        collateral is commonly subject which do not materially interfere with the
        benefits of the security intended to be provided by the Pledge Agreement;
        provided, however, that the appurtenant Proprietary Lease may be subordinated
        or
        otherwise subject to the lien of any mortgage on the Project;

      

      (l) Full
        Disbursement of Proceeds.

      

      
        	 	 	
                The
                  proceeds of the Mortgage Loan have been fully disbursed, except
                  for
                  escrows established or created due to seasonal weather conditions,
                  and
                  there is no requirement for future advances thereunder. All costs,
                  fees
                  and expenses incurred in making or closing the Mortgage Loan and
                  the
                  recording of the Mortgage were paid, and the Mortgagor is not entitled
                  to
                  any refund of any amounts paid or due under the Mortgage Note or
                  Mortgage;

              

      

      

      
        	 	
                (m)

              	
                Consolidation
                  of Future Advances.

              

      

      

      
        	 	 	
                Any
                  future advances made prior to the related Cut-off Date, have been
                  consolidated with the outstanding principal amount secured by the
                  Mortgage, and the secured principal amount, as consolidated, bears
                  a
                  single interest rate and single repayment term reflected on the
                  related
                  Mortgage Loan Schedule. The lien of the 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
                  Fannie Mae or Freddie Mac; the consolidated principal amount does
                  not
                  exceed the original principal amount of the Mortgage Loan; the
                  Seller
                  shall not make future advances after the related Cut-Off
                  Date;

              

      

      

      (n) Ownership.

      

      
        	 	 	
                The
                  Company is the sole owner of record and holder of the Mortgage
                  Loan and
                  the related Mortgage Note and the Mortgage are not assigned or
                  pledged,
                  and the Company has good and marketable title thereto and has full
                  right
                  and authority to transfer and sell the Mortgage Loan to the Purchaser.
                  The
                  Company is transferring the Mortgage Loan free and clear of any
                  and all
                  encumbrances, liens, pledges, equities, participation interests,
                  claims,
                  charges or security interests of any nature encumbering such Mortgage
                  Loan;

              

      

      

      (o) Origination/Doing
        Business.

      

      
        	 	 	
                The
                  Mortgage Loan was originated by a savings and loan association,
                  a savings
                  bank, a commercial bank, a credit union, an 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.
                  All parties which have had any interest in the Mortgage Loan, whether
                  as
                  mortgagee, assignee, pledgee or otherwise, are (or, during the
                  period in
                  which they held and disposed of such interest, were) (1) in compliance
                  with any and all applicable licensing requirements of the laws
                  of the
                  state wherein the Mortgaged Property is located, and (2) organized
                  under
                  the laws of such state, or (3) qualified to do business in such
                  state, or
                  (4) federal savings and loan associations or national banks having
                  principal offices in such state, or (5) not doing business in such
                  state;

              

      

      

      (p) LTV,
        PMI Policy.

      

      
        	 	 	
                Each
                  Mortgage Loan has an LTV as set forth in the related Mortgage Loan
                  Schedule and related Electronic Data File. Except as indicated
                  on the
                  Electronic Data File, those Mortgage Loans with an LTV greater
                  than 80% at
                  the time of origination, a portion of the unpaid principal balance
                  of the
                  Mortgage Loan is and will be insured as to payment defaults by
                  a PMI
                  Policy. If the Mortgage Loan is insured by a PMI Policy for which
                  the
                  Mortgage pays all premiums, the coverage will remain in place until
                  (i)
                  the LTV is decreased to 78% or (ii) the PMI Policy is otherwise
                  terminated
                  pursuant to the Homeowners Protection Act of 1998, 12 USC 4901,
                  et seq.
                  All provisions of such PMI Policy and LPMI Policy have been and
                  are being
                  complied with, such PMI Policy and LPMI Policy is in full force
                  and
                  effect, and all premiums due thereunder have been paid. The Qualified
                  Insurer has a claims paying ability acceptable to Fannie Mae or
                  Freddie
                  Mac. Any Mortgage Loan subject to a PMI Policy obligates the Mortgagor
                  or
                  in the case of an LPMI Policy, obligates the Company, thereunder
                  to
                  maintain the PMI Policy or LPMI Policy and to pay all premiums
                  and charges
                  in connection therewith. The Mortgage Interest Rate for the Mortgage
                  Loan
                  as set forth on the related Mortgage Loan Schedule is net of any
                  such
                  insurance premium. No prior holder of the Mortgage, including the
                  Company,
                  has done, by act or omission, anything which would impair the coverage
                  of
                  such PMI Policy or LPMI Policy;

              

      

      

      (q) Title
        Insurance.

      

      
        	 	 	
                The
                  Mortgage Loan is covered by an ALTA lender's title insurance policy
                  or
                  other generally acceptable form of policy of insurance acceptable
                  to
                  Fannie Mae or Freddie Mac, issued by a title insurer acceptable
                  to Fannie
                  Mae or Freddie Mac and qualified to do business in the jurisdiction
                  where
                  the Mortgaged Property is located, insuring the Company, its successors
                  and assigns, as to the first priority lien of the Mortgage in the
                  original
                  principal amount of the Mortgage Loan, subject only to the exceptions
                  contained in clauses (1), (2) and (3) of Paragraph (k) of this
                  Section
                  3.02, and against any loss by reason of the invalidity or unenforceability
                  of the lien resulting from the provisions of the Mortgage providing
                  for
                  adjustment to the Mortgage Interest Rate and Monthly Payment. The
                  Company
                  is the sole insured of such lender's title insurance policy, and
                  such
                  lender's title insurance policy is in full force and effect and
                  will be in
                  force and effect upon the consummation of the transactions contemplated
                  by
                  this Agreement. No claims have been made under such lender's title
                  insurance policy, and no prior holder of the Mortgage, including
                  the
                  Company, has done, by act or omission, anything which would impair
                  the
                  coverage of such lender's title insurance
                  policy;

              

      

      

      (r) No
        Defaults.

      

      
        	 	 	
                There
                  is no default, breach, violation or event of acceleration existing
                  under
                  the Mortgage or the 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
                  neither the Company nor its predecessors have waived any default,
                  breach,
                  violation or event of acceleration;

              

      

      

      (s) No
        Mechanics' Liens.

      

      
        	 	 	
                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
                  Property
                  which are or may be liens prior to, or equal or coordinate with,
                  the lien
                  of the related Mortgage which are not insured against by the title
                  insurance policy referenced in Paragraph (q)
                  above;

              

      

      

      (t) Location
        of Improvements; No Encroachments.

      

      
        	 	 	
                Except
                  as insured against by the title insurance policy referenced in
                  Paragraph
                  (q) above, all improvements which were considered in determining
                  the
                  Appraised Value of the Mortgaged Property lay wholly within the
                  boundaries
                  and building restriction lines of the Mortgaged Property and no
                  improvements on adjoining properties encroach upon the Mortgaged
                  Property.
                  No improvement located on or being part of the Mortgaged Property
                  is in
                  violation of any applicable zoning law or
                  regulation;

              

      

      

      
        	 	
                (u)

              	
                Payment
                  Terms.

              

      

      

      
        	 	 	
                Except
                  with respect to the Interest Only Mortgage Loans, principal payments
                  commenced no more than 60 days after the funds were disbursed to
                  the
                  Mortgagor in connection with the Mortgage Loan. The Mortgage Loans
                  have an
                  original term to maturity of not more than 30 years, with interest
                  payable
                  in arrears on the first day of each month. As to each adjustable
                  rate
                  Mortgage Loan on each applicable Adjustment Date, the Mortgage
                  Interest
                  Rate will be adjusted to equal the sum of the Index plus the applicable
                  Gross Margin, rounded up or down to the nearest multiple of 0.125%
                  indicated by the Mortgage Note; provided that the Mortgage Interest
                  Rate
                  will not increase or decrease by more than 2.00% on any Adjustment
                  Date,
                  and will in no event exceed the maximum Mortgage Interest Rate
                  or be lower
                  than the minimum Mortgage Interest Rate listed on the Mortgage
                  Loan
                  Schedule for such Mortgage Loan. Each adjustable rate Mortgage
                  Note
                  requires a monthly payment which is sufficient, during the period
                  prior to
                  the first adjustment to the Mortgage Interest Rate, to fully amortize
                  the
                  outstanding principal balance as of the first day of such period
                  over the
                  then remaining term of such Mortgage Note and to pay interest at
                  the
                  related Mortgage Interest Rate; provided however, with respect
                  to any
                  Interest Only Mortgage Loans, the Mortgage Note allows a Monthly
                  Payment
                  of interest only during the period prior to the first Adjustment
                  Date and
                  upon the first adjustment to the Mortgage Interest Rate, the Mortgage
                  Note
                  requires a Monthly Payment of principal and interest, sufficient
                  to fully
                  amortize the outstanding principal balance over the then remaining
                  term of
                  such Mortgage Loan. As to each adjustable rate Mortgage Loan, if
                  the
                  related Mortgage Interest Rate changes on an adjustment date, the
                  then
                  outstanding principal balance will be reamortized over the remaining
                  life
                  of such Mortgage Loan. No Mortgage Loan contains terms or provisions
                  which
                  would result in negative amortization;

              

      

      

      (v) Customary
        Provisions.

      

      
        	 	 	
                The
                  Mortgage contains customary and enforceable provisions such as
                  to render
                  the rights and remedies of the holder thereof adequate for the
                  realization
                  against the Mortgaged Property of the benefits of the security
                  provided
                  thereby, including, (i) in the case of a Mortgage designated as
                  a deed of
                  trust, by trustee's sale, and (ii) otherwise by judicial foreclosure.
                  There is no homestead or other exemption available to a Mortgagor
                  which
                  would interfere with the right to sell the Mortgaged Property at
                  a
                  trustee's sale or the right to foreclose the
                  Mortgage;

              

      

      

      (w) Occupancy
        of the Mortgaged Property.

      

      
        	 	 	
                As
                  of the date of origination, the Mortgaged Property was lawfully
                  occupied
                  under applicable law;

              

      

      

      (x) No
        Additional Collateral.

      

      
        	 	 	
                The
                  Mortgage Note is not and has not been secured by any collateral,
                  pledged
                  account, except as indicated on the Electronic Data File, or other
                  security except the lien of the corresponding Mortgage and the
                  security
                  interest of any applicable security agreement or chattel mortgage
                  referred
                  to in (k) above;

              

      

      

      (y) Deeds
        of Trust.

      

      
        	 	 	
                In
                  the event the 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 is named in the Mortgage,
                  and no
                  fees or expenses are or will become payable by the Mortgagee to
                  the
                  trustee under the deed of trust, except in connection with a trustee's
                  sale after default by the
                  Mortgagor;

              

      

      

      (z) Acceptable
        Investment.

      

      
        	 	 	
                The
                  Company has no knowledge of any circumstances or conditions with
                  respect
                  to the Mortgage Loan, the Mortgaged Property, the Mortgagor or
                  the
                  Mortgagor's credit standing that can reasonably be expected to
                  cause
                  private institutional investors to regard the Mortgage Loan as
                  an
                  unacceptable investment, cause the Mortgage Loan to become delinquent,
                  or
                  adversely affect the value or marketability of the Mortgage
                  Loan;

              

      

      

      (aa) Transfer
        of Mortgage Loans.

      

      
        	 	 	
                If
                  the Mortgage Loan is not a MERS Mortgage Loan, the Assignment upon
                  the
                  insertion of the name of the assignee and recording information
                  is in
                  recordable form and is acceptable for recording under the laws
                  of the
                  jurisdiction in which the Mortgaged Property is
                  located;

              

      

      

      (bb) Mortgaged
        Property Undamaged.

      

      
        	 	 	
                The
                  Mortgaged Property is undamaged by waste, fire, earthquake or earth
                  movement, windstorm, flood, tornado or other casualty so as to
                  affect
                  adversely the value of the Mortgaged Property as security for the
                  Mortgage
                  Loan or the use for which the premises were
                  intended;

              

      

      

      (cc) Collection
        Practices; Escrow Deposits.

      

      
        	 	 	
                The
                  origination and collection practices used with respect to the Mortgage
                  Loan have been in accordance with Accepted Servicing Practices, and have
                  been in all material respects legal and proper. With respect to
                  escrow
                  deposits and Escrow Payments, all such payments are in the possession
                  of
                  the Company and there exist no deficiencies in connection therewith
                  for
                  which customary arrangements for repayment thereof have not been
                  made. All
                  Escrow Payments have been collected in full compliance with state
                  and
                  federal law. No escrow deposits or Escrow Payments or other charges
                  or
                  payments due the Company have been capitalized under the Mortgage
                  Note;

              

      

      

      (dd) No
        Condemnation.

      

      
        	 	 	
                There
                  is no proceeding pending or to the best of the Company’s knowledge
                  threatened for the total or partial condemnation of the related
                  Mortgaged
                  Property;

              

      

      

      (ee) The
        Appraisal.

      

      
        	 	 	
                The
                  Servicing File contains an appraisal of the related Mortgaged Property.
                  As
                  to each Time$aver® Mortgage Loan, the appraisal may be from the original
                  of the existing Company-serviced loan, which was refinanced via
                  such
                  Time$aver® Mortgage Loan. The appraisal was conducted by an appraiser who
                  had no interest, direct or indirect, in the Mortgaged Property
                  or in any
                  loan made on the security thereof; and whose compensation is not
                  affected
                  by the approval or disapproval of the Mortgage Loan, and the appraisal
                  and
                  the appraiser both satisfy the applicable requirements of Title
                  XI of the
                  Financial Institution Reform, Recovery, and Enforcement Act of
                  1989 and
                  the regulations promulgated thereunder, all as in effect on the
                  date the
                  Mortgage Loan was originated;

              

      

      

      (ff) Insurance.

      

      
        	 	 	
                The
                  Mortgaged Property securing each Mortgage Loan is insured by an
                  insurer
                  acceptable to Fannie Mae or Freddie Mac against loss by fire and
                  such
                  hazards as are covered under a standard extended coverage endorsement
                  and
                  such other hazards as are customary in the area where the Mortgaged
                  Property is located pursuant to insurance policies conforming to
                  the
                  requirements of Section 4.10, in an amount which is at least equal
                  to the
                  lesser of (a) 100% of the insurable value, on a replacement cost
                  basis, of
                  the improvements on the related Mortgaged Property, and (b) the
                  greater of
                  (i) the outstanding principal balance of the Mortgage Loan and
                  (ii) an
                  amount such that the proceeds of such insurance shall be sufficient
                  to
                  prevent the application to the Mortgagor or the loss payee of any
                  coinsurance clause under the policy. If the Mortgaged Property
                  is a
                  condominium unit, it is included under the coverage afforded by
                  a blanket
                  policy for the project. If the improvements on the Mortgaged Property
                  are
                  in an area identified in the Federal Register by the Federal Emergency
                  Management Agency as having special flood hazards, a flood insurance
                  policy meeting the requirements of the current guidelines of the
                  Federal
                  Insurance Administration is in effect with a generally acceptable
                  insurance carrier, in an amount representing coverage not less
                  than the
                  least of (A) the outstanding principal balance of the Mortgage Loan,
                  (B) the full insurable value and (C) the maximum amount of
                  insurance which was available under the Flood Disaster Protection
                  Act of
                  1973, as amended. All individual insurance policies contain a standard
                  mortgagee clause naming the Company and its successors and assigns
                  as
                  mortgagee, and all premiums thereon have been paid. The Mortgage
                  obligates
                  the Mortgagor thereunder to maintain a hazard insurance policy
                  at the
                  Mortgagor's cost and expense, and on the Mortgagor's failure to
                  do so,
                  authorizes the holder of the Mortgage to obtain and maintain such
                  insurance at such Mortgagor's cost and expense, and to seek reimbursement
                  therefor from the Mortgagor. The hazard insurance policy is the
                  valid and
                  binding obligation of the insurer, 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.
                  The
                  Company has not acted or failed to act so as to impair the coverage
                  of any
                  such insurance policy or the validity, binding effect and enforceability
                  thereof;

              

      

      

      
        	 	
                (gg)

              	
                Servicemembers’
                  Civil Relief Act.

              

      

      

      
        	 	 	
                The
                  Mortgagor has not notified the Company, and the Company has no
                  knowledge
                  of any relief requested or allowed to the Mortgagor under the
                  Servicemembers’ Civil Relief Act, as
                  amended;

              

      

      

      
        	 	
                (hh)

              	
                No
                  Graduated Payments or Contingent Interests.

              

      

      

      
        	 	 	
                The
                  Mortgage Loan is not a graduated payment mortgage loan and the
                  Mortgage
                  Loan does not have a shared appreciation or other contingent interest
                  feature;

              

      

      

      
        	 	
                (ii)

              	
                No
                  Construction Loans.

              

      

      

      
        	 	 	
                No
                  Mortgage Loan was made in connection with (i) the construction
                  or
                  rehabilitation of a Mortgage Property or (ii) facilitating the
                  trade-in or
                  exchange of a Mortgaged Property other than a construction-to-permanent
                  loan which has converted to a permanent Mortgage
                  Loan;

              

      

      

      
        	 	
                (jj)

              	
                Underwriting.

              

      

      

      
        	 	 	
                Each
                  Mortgage Loan was underwritten in accordance with the underwriting
                  guidelines of the Company, which were in effect at the time the
                  Mortgage
                  Loan was originated; and the Mortgage Note and Mortgage are on
                  forms
                  acceptable to Freddie Mac or Fannie
                  Mae;

              

      

      

      
        	 	
                (kk)

              	
                Buydown
                  Mortgage Loans.

              

      

      

      
        	 	 	
                With
                  respect to each Mortgage Loan that is a Buydown Mortgage
                  Loan:

              

      

      

      
        	 	
                (i)

              	
                On
                  or before the date of origination of such Mortgage Loan, the Company
                  and
                  the Mortgagor, or the Company, the Mortgagor and the seller of
                  the
                  Mortgaged Property or a third party entered into a Buydown Agreement.
                  The
                  Buydown Agreement provides that the seller of the Mortgaged Property
                  (or
                  third party) shall deliver to the Company temporary Buydown Funds
                  in an
                  amount equal to the aggregate undiscounted amount of payments that,
                  when
                  added to the amount the Mortgagor on such Mortgage Loan is obligated
                  to
                  pay on each Due Date in accordance with the terms of the Buydown
                  Agreement, is equal to the full scheduled Monthly Payment due on
                  such
                  Mortgage Loan. The temporary Buydown Funds enable the Mortgagor
                  to qualify
                  for the Buydown Mortgage Loan. The effective interest rate of a
                  Buydown
                  Mortgage Loan if less than the interest rate set forth in the related
                  Mortgage Note will increase within the Buydown Period as provided
                  in the
                  related Buydown Agreement so that the effective interest rate will
                  be
                  equal to the interest rate as set forth in the related Mortgage
                  Note. The
                  Buydown Mortgage Loan satisfies the requirements of Fannie Mae
                  or Freddie
                  Mac guidelines;

              

      

      

      
        	 	
                (ii)

              	
                The
                  Mortgage and Mortgage Note reflect the permanent payment terms
                  rather than
                  the payment terms of the Buydown Agreement. The Buydown Agreement
                  provides
                  for the payment by the Mortgagor of the full amount of the Monthly
                  Payment
                  on any Due Date that the Buydown Funds are available. The Buydown
                  Funds
                  were not used to reduce the original principal balance of the Mortgage
                  Loan or to increase the Appraised Value of the Mortgage Property
                  when
                  calculating the Loan-to-Value Ratios for purposes of the Agreement
                  and, if
                  the Buydown Funds were provided by the Company and if required
                  under
                  Fannie Mae or Freddie Mac guidelines, the terms of the Buydown
                  Agreement
                  were disclosed to the appraiser of the Mortgaged
                  Property;

              

      

      

      
        	 	
                (iii)

              	
                The
                  Buydown Funds may not be refunded to the Mortgagor unless the Mortgagor
                  makes a principal payment for the outstanding balance of the Mortgage
                  Loan;

              

      

      

      
        	 	
                (iv)

              	
                As
                  of the date of origination of the Mortgage Loan, the provisions
                  of the
                  related Buydown Agreement complied with the requirements of Fannie
                  Mae or
                  Freddie Mac regarding buydown
                  agreements.

              

      

      

      
        	 	
                (ll)

              	
                Delivery
                  of Custodial Mortgage Files.

              

      

      

      Any
        documents required to be delivered by the Company under this Agreement have
        been
        delivered to the Custodian. The Company is in possession of a complete, true
        and
        accurate Retained Mortgage File and Custodial Mortgage File in compliance
        with
        Exhibit C hereto;

      

      
        	 	
                (mm)

              	
                No
                  Violation of Environmental Laws.

              

      

      

      There
        is
        no pending action or proceeding directly involving any Mortgaged Property
        of
        which the Company is aware in which compliance with any environmental law,
        rule
        or regulation is an issue; and to the best of the Company’s knowledge, nothing
        further remains to be done to satisfy in full all requirements of each such
        law,
        rule or regulation constituting a prerequisite to use and enjoyment of said
        property; 

      

      
        	 	
                (nn)

              	
                No
                  Bankruptcy.

              

      

      

      No
        Mortgagor was a debtor in any state or federal bankruptcy or insolvency
        proceeding at the time the Mortgage Loan was originated and to the best of
        the
        Company’s knowledge, as of the related Closing Date, the Company has not
        received notice that any Mortgagor is a debtor under any state or federal
        bankruptcy or insolvency proceeding; 

      

      (oo) HOEPA.

      

      No
        Mortgage Loan is a High Cost Loan or Covered Loan;

      

      (pp) Cooperative
        Loans.

      

      With
        respect to each Cooperative Loan:

      

      
        	 	
                (i)

              	
                The
                  Cooperative Shares are held by a person as a tenant-stockholder
                  in a
                  Cooperative. Each original UCC financing statement, continuation
                  statement
                  or other governmental filing or recordation necessary to create
                  or
                  preserve the perfection and priority of the first lien and security
                  interest in the Cooperative Loan and Proprietary Lease has been
                  timely and
                  properly made. Any security agreement, chattel mortgage or equivalent
                  document related to the Cooperative Loan and delivered to Purchaser
                  or its
                  designee establishes in Purchaser a valid and subsisting perfected
                  first
                  lien on and security interest in the Mortgaged Property described
                  therein,
                  and Purchaser has full right to sell and assign the same. The Proprietary
                  Lease term expires no less than five years after the Mortgage Loan
                  term or
                  such other term acceptable to Fannie Mae or Freddie
                  Mac;

              

      

      

      
        	 	
                (ii)

              	
                A
                  Cooperative Lien Search has been made by a company competent to
                  make the
                  same which company is acceptable to Fannie Mae and qualified to
                  do
                  business in the jurisdiction where the Cooperative is
                  located;

              

      

      

      
        	 	
                (iii)

              	
                (a)
                  The term of the related Proprietary Lease is not less than the
                  terms of
                  the Cooperative Loan; (b) there is no provision in any Proprietary
                  Lease
                  which requires the Mortgagor to offer for sale the Cooperative
                  Shares
                  owned by such Mortgagor first to the Cooperative; (c) there is
                  no
                  prohibition in any Proprietary Lease against pledging the Cooperative
                  Shares or assigning the Proprietary Lease; (d) the Cooperative
                  has been
                  created and exists in full compliance with the requirements for
                  residential cooperatives in the jurisdiction in which the Project
                  is
                  located and qualifies as a cooperative housing corporation under
                  Section
                  210 of the Code; (e) the Recognition Agreement is on a form published
                  by
                  Aztech Document Services, Inc. or includes similar provisions;
                  and (f) the
                  Cooperative has good and marketable title to the Project, and owns
                  the
                  Project either in fee simple or under a leasehold that complies
                  with the
                  requirements of the Fannie Mae Guidelines; such title is free and
                  clear of
                  any adverse liens or encumbrances, except the lien of any blanket
                  mortgage;

              

      

      

      
        	 	
                (iv)

              	
                The
                  Company has the right under the terms of the Mortgage Note, Pledge
                  Agreement and Recognition Agreement to pay any maintenance charges
                  or
                  assessments owed by the Mortgagor;

              

      

      

      
        	 	
                (v)

              	
                Each
                  Stock Power (i) has all signatures guaranteed or (ii) if all signatures
                  are not guaranteed, then such Cooperative Shares will be transferred
                  by
                  the stock transfer agent of the Cooperative if the Company undertakes
                  to
                  convert the ownership of the collateral securing the related Cooperative
                  Loan;

              

      

      

      (qq) Georgia
        Fair Lending Act.

      

      There
        is
        no Mortgage Loan that was originated on or after October 1, 2002 and before
        March 7, 2003, which is secured by property located in the State of
        Georgia;

      

      (rr) Methodology.

      

      The
        methodology used in underwriting the extension of credit for each Mortgage
        Loan
        employs objective mathematical principles which relate the borrower’s income,
        assets and liabilities to the proposed payment and such underwriting methodology
        does not rely on the extent of the borrower’s equity in the collateral as the
        principal determining factor in approving such credit extension. Such
        underwriting methodology confirmed that at the time of origination
        (application/approval) the borrower had a reasonable ability to make timely
        payments on the Mortgage Loan;

      

      
        	 	
                (ss)

              	
                Imposition
                  of a Premium.

              

      

      

      With
        respect to any Mortgage Loan that contains a provision permitting imposition
        of
        a premium upon a prepayment prior to maturity: (i) the prepayment premium
        is
        disclosed to the borrower in the loan documents pursuant to applicable state
        and
        federal law, and (ii) notwithstanding any state or federal law to the contrary,
        the Company shall recommend that such prepayment premium is not imposed in
        any
        instance when the mortgage debt is accelerated as the result of the borrower’s
        default in making the loan payments;

      

      
        	 	
                (tt)

              	
                Single
                  Premium Credit Life.

              

      

      

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

      

      (uu) No
        Arbitration Provision.
        

      

      
        	 	 	
                With
                  respect to each Mortgage Loan, neither the related Mortgage nor
                  the
                  related Mortgage Note requires the Mortgagor to
                  submit to arbitration to resolve any dispute arising out of or
                  relating in
                  any way to the Mortgage Loan transaction;

              

      

      

      
        	 	
                (ww)

              	
                Credit
                  Reporting.

              

      

      

      With
        respect to each Mortgage Loan, the Company has fully furnished, in accordance
        with the Fair Credit Reporting Act and its implementing regulations, accurate
        and complete information (i.e. favorable and unfavorable) on its borrower
        credit
        files to Equifax, Experian and Trans Union Credit Information Company (three
        of
        the credit repositories), on a monthly basis; and

      

      
        	 	
                (xx)

              	
                Illinois
                  Interest Act.

              

      

      

      Any
        Mortgage Loan with a Mortgaged Property in the State of Illinois complies
        with
        the Illinois Interest Act.

      

      Section
        3.03 Repurchase.

      

      It
        is
        understood and agreed that the representations and warranties set forth in
        Sections 3.01 and 3.02 shall survive the sale of the Mortgage Loans to the
        Purchaser and the delivery of the Mortgage Loan Documents to the Custodian
        and
        shall inure to the benefit of the Purchaser, notwithstanding any restrictive
        or
        qualified endorsement on any Mortgage Note or Assignment of Mortgage or the
        examination or failure to examine any Custodial Mortgage Files or Retained
        Mortgage File. Upon discovery by either the Company or the Purchaser of a
        breach
        of any of the foregoing representations and warranties which materially and
        adversely affects the value of the Mortgage Loans or the interest of the
        Purchaser (or which materially and adversely affects the interests of Purchaser
        in the related Mortgage Loan in the case of a representation and warranty
        relating to a particular Mortgage Loan), the party discovering such breach
        shall
        give prompt written notice to the other.

      

      Within
        ninety (90) days of the earlier of either discovery by or notice to the Company
        of any breach of a representation or warranty which materially and adversely
        affects the value of the Mortgage Loans, the Company shall use its best efforts
        promptly to cure such breach in all material respects and, if such breach
        cannot
        be cured, the Company shall, at the Purchaser's option, repurchase such Mortgage
        Loan at the Repurchase Price. In the event that a breach shall involve any
        representation or warranty set forth in Section 3.01, and such breach cannot
        be
        cured within 90 days of the earlier of either discovery by or notice to the
        Company of such breach, all of the Mortgage Loans shall, at the Purchaser's
        option, be repurchased by the Company at the Repurchase Price. However, if
        the
        breach shall involve a representation or warranty set forth in Section 3.02
        and
        the Company discovers or receives notice of any such breach within 120 days
        of
        the related Closing Date, the Company shall, if the breach cannot be cured,
        at
        the Purchaser's option and provided that the Company has a Qualified Substitute
        Mortgage Loan, rather than repurchase the Mortgage Loan as provided above,
        remove such Mortgage Loan (a "Deleted Mortgage Loan") and substitute in its
        place a Qualified Substitute Mortgage Loan or Loans, provided that any such
        substitution shall be effected not later than 120 days after the related
        Closing
        Date. If the Company has no Qualified Substitute Mortgage Loan, it shall
        repurchase the deficient Mortgage Loan within ninety (90) days of the written
        notice of the breach or the failure to cure, whichever is later. Any repurchase
        of a Mortgage Loan or Loans pursuant to the foregoing provisions of this
        Section
        3.03 shall be accomplished by deposit in the Custodial Account of the amount
        of
        the Repurchase Price for distribution to Purchaser on the next scheduled
        Remittance Date, after deducting therefrom any amount received in respect
        of
        such repurchased Mortgage Loan or Loans and being held in the Custodial Account
        for future distribution.

      

      At
        the
        time of repurchase or substitution, the Purchaser and the Company shall arrange
        for the reassignment of the Deleted Mortgage Loan to the Company and the
        delivery to the Company of any documents held by the Custodian relating to
        the
        Deleted Mortgage Loan. If
        the
        Company repurchases a Mortgage Loan that is a MERS Mortgage Loan, the Company
        shall cause MERS to designate on the MERS® System to remove the Purchaser as the
        beneficial holder with respect to such Mortgage Loan. In
        the
        event of a repurchase or substitution, the Company shall, simultaneously
        with
        such reassignment, give written notice to the Purchaser that such repurchase
        or
        substitution has taken place, amend the related Mortgage Loan Schedule to
        reflect the withdrawal of the Deleted Mortgage Loan from this Agreement,
        and, in
        the case of substitution, identify a Qualified Substitute Mortgage Loan and
        amend the related Mortgage Loan Schedule to reflect the addition of such
        Qualified Substitute Mortgage Loan to this Agreement. In connection with
        any
        such substitution, the Company shall be deemed to have made as to such Qualified
        Substitute Mortgage Loan the representations and warranties set forth in
        this
        Agreement except that all such representations and warranties set forth in
        this
        Agreement shall be deemed made as of the date of such substitution. The Company
        shall effect such substitution by delivering to the Custodian for such Qualified
        Substitute Mortgage Loan the documents required by Section 2.03, with the
        Mortgage Note endorsed as required by Section 2.03. No substitution will
        be made
        in any calendar month after the Determination Date for such month. The Company
        shall deposit in the Custodial Account the Monthly Payment less the Servicing
        Fee due on such Qualified Substitute Mortgage Loan or Loans in the month
        following the date of such substitution. Monthly Payments due with respect
        to
        Qualified Substitute Mortgage Loans in the month of substitution shall be
        retained by the Company. With respect to any Deleted Mortgage loan,
        distributions to Purchaser shall include the Monthly Payment due on any Deleted
        Mortgage Loan in the month of substitution, and the Company shall thereafter
        be
        entitled to retain all amounts subsequently received by the Company in respect
        of such Deleted Mortgage Loan.

      

      For
        any
        month in which the Company substitutes a Qualified Substitute Mortgage Loan
        for
        a Deleted Mortgage Loan, the Company shall determine the amount (if any)
        by
        which the aggregate principal balance of all Qualified Substitute Mortgage
        Loans
        as of the date of substitution is less than the aggregate Stated Principal
        Balance of all Deleted Mortgage Loans (after application of scheduled principal
        payments due in the month of substitution). The amount of such shortfall
        shall
        be distributed by the Company in the month of substitution pursuant to Section
        5.01. Accordingly, on the date of such substitution, the Company shall deposit
        from its own funds into the Custodial Account an amount equal to the amount
        of
        such shortfall.

      

      In
        addition to such repurchase or substitution obligation, the Company shall
        indemnify the Purchaser and hold it harmless against any losses, damages,
        penalties, fines, forfeitures, reasonable and necessary legal fees and related
        costs, judgments, and other costs and expenses resulting from any claim,
        demand,
        defense or assertion based on or grounded upon, or resulting from, a breach
        of
        the Company representations and warranties contained in this Agreement. It
        is
        understood and agreed that the obligations of the Company set forth in this
        Section 3.03 to cure, substitute for or repurchase a defective Mortgage Loan
        and
        to indemnify the Purchaser as provided in this Section 3.03 constitute the
        sole
        remedies of the Purchaser respecting a breach of the foregoing representations
        and warranties.

      

      Any
        cause
        of action against the Company relating to or arising out of the breach of
        any
        representations and warranties made in Sections 3.01 and 3.02 shall accrue
        as to
        any Mortgage Loan upon (i) discovery of such breach by the Purchaser or notice
        thereof by the Company to the Purchaser, (ii) failures by the Company to
        cure
        such breach or repurchase such Mortgage Loan as specified above, and (iii)
        demand upon the Company by the Purchaser for compliance with this
        Agreement.

      

      In
        the
        event a Mortgage Loan pays off in full on or before the related Closing Date,
        the Company must repay the Purchaser the difference between the Unpaid Principal
        Balance of such Mortgage Loan as of the date of pay off and the Unpaid Principal
        Balance multiplied by the purchase price percentage adjusted, if necessary
        in
        accordance with the Commitment Letter.

      

       

      ARTICLE
        IV

       

      ADMINISTRATION
        AND SERVICING OF MORTGAGE LOANS

      

      Section
        4.01 Company
        to Act as Servicer.

      

      The
        Company, as an independent contractor, shall service and administer the Mortgage
        Loans and shall have full power and authority, acting alone or through the
        utilization of a Subcontractor, to do any and all things in connection with
        such
        servicing and administration which the Company may deem necessary or desirable,
        consistent with the terms of this Agreement and with Accepted Servicing
        Practices. The
        Company shall be responsible for any and all acts of a Subcontractor, and
        the
        Company’s utilization of a Subcontractor shall in no way relieve the liability
        of the Company under this Agreement. 

      

      Consistent
        with the terms of this Agreement, the Company may waive, modify or vary any
        term
        of any Mortgage Loan or consent to the postponement of strict compliance
        with
        any such term or in any manner grant indulgence to any Mortgagor if in the
        Company's reasonable and prudent determination such waiver, modification,
        postponement or indulgence is not materially adverse to the Purchaser, provided,
        however, that the Company shall not make any future advances with respect
        to a
        Mortgage Loan and (unless the Mortgagor is in default with respect to the
        Mortgage Loan or such default is, in the judgment of the Company, imminent
        and
        the Company has obtained the prior written consent of the Purchaser) the
        Company
        shall not permit any modification with respect to any Mortgage Loan that
        would
        change the Mortgage Interest Rate, defer or forgive the payment of principal
        (except for actual payments of principal) or change the final maturity date
        on
        such Mortgage Loan. In the event of any such modification which permits the
        deferral of interest or principal payments on any Mortgage Loan, the Company
        shall, on the Business Day immediately preceding the Remittance Date in any
        month in which any such principal or interest payment has been deferred,
        deposit
        in the Custodial Account from its own funds, in accordance with Section 5.03,
        the difference between (a) such month's principal and one month's interest
        at
        the Mortgage Loan Remittance Rate on the unpaid principal balance of such
        Mortgage Loan and (b) the amount paid by the Mortgagor. The Company shall
        be
        entitled to reimbursement for such advances to the same extent as for all
        other
        advances made pursuant to Section 5.03. Without limiting the generality of
        the
        foregoing, the Company shall continue, and is hereby authorized and empowered,
        to execute and deliver on behalf of itself and the Purchaser, all instruments
        of
        satisfaction or cancellation, or of partial or full release, discharge and
        all
        other comparable instruments, with respect to the Mortgage Loans and with
        respect to the Mortgaged Properties. If reasonably required by the Company,
        the
        Purchaser shall furnish the Company with any powers of attorney and other
        documents necessary or appropriate to enable the Company to carry out its
        servicing and administrative duties under this Agreement.

      

      In
        servicing and administering the Mortgage Loans, the Company shall employ
        procedures (including collection procedures) and exercise the same care that
        it
        customarily employs and exercises in servicing and administering mortgage
        loans
        for its own account, giving due consideration to Accepted Servicing Practices
        where such practices do not conflict with the requirements of this Agreement,
        and the Purchaser's reliance on the Company.

      

      The
        Company is authorized and empowered by the Purchaser, in its own name, when
        the
        Company believes it appropriate in its reasonable judgment to register any
        Mortgage Loan on the MERS® System, or cause the removal from the registration of
        any Mortgage Loan on the MERS® System, with written consent of the Purchaser, to
        execute and deliver, on behalf of the Purchaser, any and all instruments
        of
        assignment and other comparable instruments with respect to such assignment
        or
        re-recording of a Mortgage in the name of MERS, solely as nominee for the
        Purchaser and its successors and assigns. 

      

      The
        Company shall cause to be maintained for each Cooperative Loan a copy of
        the
        financing statements and shall file and such financing statements and
        continuation statements as necessary, in accordance with the Uniform Commercial
        Code applicable in the jurisdiction in which the related Cooperative Apartment
        is located, to perfect and protect the security interest and lien of the
        Purchaser.

      

      The
        Company shall apply any Principal Prepayment on an Interest Only Mortgage
        Loan
        to the then-outstanding principal balance, at which time the interest-only
        payment feature shall be extinguished. The related Monthly Payment shall
        thereafter consist of both principal and interest components, and the amount
        of
        such Monthly Payment shall not change prior to the next Adjustment
        Date.

      

      Section
        4.02 Liquidation
        of Mortgage Loans.

      

      In
        the
        event that any payment due under any Mortgage Loan and not postponed pursuant
        to
        Section 4.01 is not paid when the same becomes due and payable, or in the
        event
        the Mortgagor fails to perform any other covenant or obligation under the
        Mortgage Loan and such failure continues beyond any applicable grace period,
        the
        Company shall take such action as (1) the Company would take under similar
        circumstances with respect to a similar mortgage loan held for its own account
        for investment, (2) shall be consistent with Accepted Servicing Practices,
        (3)
        the Company shall determine prudently to be in the best interest of Purchaser,
        and (4) is consistent with any related PMI Policy. In the event that any
        payment
        due under any Mortgage Loan is not postponed pursuant to Section 4.01 and
        remains delinquent for a period of 90 days or any other default continues
        for a
        period of 90 days beyond the expiration of any grace or cure period, the
        Company
        shall commence foreclosure proceedings, the Company shall notify the Purchaser
        in writing of the Company's intention to do so, and the Company shall not
        commence foreclosure proceedings if the Purchaser objects to such action
        within
        three (3) Business Days of receiving such notice. In the event the Purchaser
        objects to such foreclosure action, the Company shall not be required to
        make
        Monthly Advances with respect to such Mortgage Loan, pursuant to Section
        5.03,
        and the Company's obligation to make such Monthly Advances shall terminate
        on
        the 90th day referred to above. In such connection, the Company shall from
        its
        own funds make all necessary and proper Servicing Advances, provided, however,
        that the Company shall not be required to expend its own funds in connection
        with any foreclosure or towards the restoration or preservation of any Mortgaged
        Property, unless it shall determine (a) that such preservation, restoration
        and/or foreclosure will increase the proceeds of liquidation of the Mortgage
        Loan to Purchaser after reimbursement to itself for such expenses and (b)
        that
        such expenses will be recoverable by it either through Liquidation Proceeds
        (respecting which it shall have priority for purposes of withdrawals from
        the
        Custodial Account pursuant to Section 4.05) or through Insurance Proceeds
        (respecting which it shall have similar priority).

      

      Notwithstanding
        anything to the contrary contained herein, in connection with a foreclosure
        or
        acceptance of a deed in lieu of foreclosure, in the event the Company has
        reasonable cause to believe that a Mortgaged Property is contaminated by
        hazardous or toxic substances or wastes, or if the Purchaser otherwise requests
        an environmental inspection or review of such Mortgaged Property, such an
        inspection or review is to be conducted by a qualified inspector. The cost
        for
        such inspection or review shall be borne by the Purchaser. Upon completion
        of
        the inspection or review, the Company shall promptly provide the Purchaser
        with
        a written report of the environmental inspection.

      

      After
        reviewing the environmental inspection report, the Purchaser shall determine
        how
        the Company shall proceed with respect to the Mortgaged Property. In the
        event
        (a) the environmental inspection report indicates that the Mortgaged Property
        is
        contaminated by hazardous or toxic substances or wastes and (b) the Purchaser
        directs the Company to proceed with foreclosure or acceptance of a deed in
        lieu
        of foreclosure, the Company shall be reimbursed for all reasonable costs
        associated with such foreclosure or acceptance of a deed in lieu of foreclosure
        and any related environmental clean up costs, as applicable, from the related
        Liquidation Proceeds, or if the Liquidation Proceeds are insufficient to
        fully
        reimburse the Company, the Company shall be entitled to be reimbursed from
        amounts in the Custodial Account pursuant to Section 4.05 hereof. In the
        event
        the Purchaser directs the Company not to proceed with foreclosure or acceptance
        of a deed in lieu of foreclosure, the Company shall be reimbursed for all
        Servicing Advances made with respect to the related Mortgaged Property from
        the
        Custodial Account pursuant to Section 4.05 hereof.

      

      Section
        4.03 Collection
        of Mortgage Loan Payments.

      

      Continuously
        from the related Cut-off Date until the principal and interest on all Mortgage
        Loans are paid in full, the Company shall proceed diligently to collect all
        payments due under each of the Mortgage Loans when the same shall become
        due and
        payable and shall take special care in ascertaining and estimating Escrow
        Payments and all other charges that will become due and payable with respect
        to
        the Mortgage Loan and the Mortgaged Property, to the end that the installments
        payable by the Mortgagors will be sufficient to pay such charges as and when
        they become due and payable.

      

      Section
        4.04 Establishment
        of and Deposits to Custodial Account.

      

      The
        Company shall segregate and hold all funds collected and received pursuant
        to a
        Mortgage Loan separate and apart from any of its own funds and general assets
        and shall establish and maintain one or more Custodial Accounts, in the form
        of
        time deposit or demand accounts, titled "Wells Fargo Bank, N.A. in trust
        for the
        Purchaser and/or subsequent purchasers of Mortgage Loans - P & I." The
        Custodial Account shall be established with a Qualified Depository. Upon
        request
        of the Purchaser and within ten (10) days thereof, the Company shall provide
        the
        Purchaser with written confirmation of the existence of such Custodial Account.
        Any funds deposited into the Custodial Account shall at all times be insured
        to
        the fullest extent allowed by applicable law. Funds deposited in the Custodial
        Account may be drawn on by the Company in accordance with Section
        4.05.

      

      The
        Company shall deposit in the Custodial Account within one (1) Business Day
        of
        Company’s receipt, and retain therein, the following collections received by the
        Company and payments made by the Company after the related Cut-off Date,
        other
        than payments of principal and interest due on or before the related Cut-off
        Date, or received by the Company prior to the related Cut-off Date but allocable
        to a period subsequent thereto:

      

      
        	 	
                (i)

              	
                all
                  payments on account of principal on the Mortgage Loans, including
                  all
                  Principal Prepayments;

              

      

      

      
        	 	
                (ii)

              	
                all
                  payments on account of interest on the Mortgage Loans adjusted
                  to the
                  Mortgage Loan Remittance Rate;

              

      

      

      
        	 	
                (iii)

              	
                all
                  Liquidation Proceeds;

              

      

      

      
        	 	
                (iv)

              	
                all
                  Insurance Proceeds including amounts required to be deposited pursuant
                  to
                  Section 4.10 (other than proceeds to be held in the Escrow Account
                  and
                  applied to the restoration or repair of the Mortgaged Property
                  or released
                  to the Mortgagor in accordance with Section 4.14), Section 4.11
                  and
                  Section 4.15;

              

      

      

      
        	 	
                (v)

              	
                all
                  Condemnation Proceeds which are not applied to the restoration
                  or repair
                  of the Mortgaged Property or released to the Mortgagor in accordance
                  with
                  Section 4.14;

              

      

      

      
        	 	
                (vi)

              	
                any
                  amount required to be deposited in the Custodial Account pursuant
                  to
                  Section 4.01, 5.03, 6.01 or 6.02;

              

      

      

      
        	 	
                (vii)

              	
                any
                  amounts payable in connection with the repurchase of any Mortgage
                  Loan
                  pursuant to Section 3.03 and all amounts required to be deposited
                  by the
                  Company in connection with a shortfall in principal amount of any
                  Qualified Substitute Mortgage Loan pursuant to Section
                  3.03;

              

      

      

      
        	 	
                (viii)

              	
                with
                  respect to each Principal Prepayment an amount (to be paid by the
                  Company
                  out of its funds) which, when added to all amounts allocable to
                  interest
                  received in connection with the Principal Prepayment, equals one
                  month's
                  interest on the amount of principal so prepaid at the Mortgage
                  Loan
                  Remittance Rate;

              

      

      

      
        	 	
                (ix)

              	
                any
                  amounts required to be deposited by the Company pursuant to Section
                  4.11
                  in connection with the deductible clause in any blanket hazard
                  insurance
                  policy;

              

      

      

      
        	 	
                (x)

              	
                any
                  amounts received with respect to or related to any REO Property
                  and all
                  REO Disposition Proceeds pursuant to Section 4.16; and
                  

              

      

      

      
        	 	
                (xi)

              	
                an
                  amount from the Subsidy Account that when added to the Mortgagor’s payment
                  will equal the full monthly amount due under the related Mortgage
                  Note.

              

      

      

      The
        foregoing requirements for deposit into the Custodial Account shall be
        exclusive, it being understood and agreed that, without limiting the generality
        of the foregoing, payments in the nature of late payment charges and assumption
        fees, to the extent permitted by Section 6.01, need not be deposited by the
        Company into the Custodial Account. Any interest paid on funds deposited
        in the
        Custodial Account by the depository institution shall accrue to the benefit
        of
        the Company and the Company shall be entitled to retain and withdraw such
        interest from the Custodial Account pursuant to Section 4.05.

      

      Section
        4.05 Permitted
        Withdrawals From Custodial Account.

      

      The
        Company shall, from time to time, withdraw funds from the Custodial Account
        for
        the following purposes:

      

      (i) to
        make
        payments to the Purchaser in the amounts and in the manner provided for in
        Section 5.01;

      

      (ii) to
        reimburse itself for Monthly Advances of the Company's funds made pursuant
        to
        Section 5.03, the Company's right to reimburse itself pursuant to this subclause
        (ii) being limited to amounts received on the related Mortgage Loan which
        represent late payments of principal and/or interest respecting which any
        such
        advance was made, it being understood that, in the case of any such
        reimbursement, the Company's right thereto shall be prior to the rights of
        Purchaser, except that, where the Company is required to repurchase a Mortgage
        Loan pursuant to Section 3.03 or 6.02, the Company's right to such reimbursement
        shall be subsequent to the payment to the Purchaser of the Repurchase Price
        pursuant to such sections and all other amounts required to be paid to the
        Purchaser with respect to such Mortgage Loan;

      

      (iii) to
        reimburse itself for unreimbursed Servicing Advances, and for any unpaid
        Servicing Fees, the Company's right to reimburse itself pursuant to this
        subclause (iii) with respect to any Mortgage Loan being limited to related
        Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such
        other
        amounts as may be collected by the Company from the Mortgagor or otherwise
        relating to the Mortgage Loan, it being understood that, in the case of any
        such
        reimbursement, the Company's right thereto shall be prior to the rights of
        Purchaser, except that where the Company is required to repurchase a Mortgage
        Loan pursuant to Section 3.03 or 6.02, in which case the Company's right
        to such
        reimbursement shall be subsequent to the payment to the Purchaser of the
        Repurchase Price pursuant to such sections and all other amounts required
        to be
        paid to the Purchaser with respect to such Mortgage Loan. Upon Purchaser's
        request, the Company shall provide documentation supporting the Company's
        Servicing Advances;

      

      (iv) to
        pay
        itself interest on funds deposited in the Custodial Account;

      

      (v) to
        reimburse itself for expenses incurred and reimbursable to it pursuant to
        Section 8.01;

      

      (vi) to
        pay
        any amount required to be paid pursuant to Section 4.16 related to any REO
        Property, it being understood that, in the case of any such expenditure or
        withdrawal related to a particular REO Property, the amount of such expenditure
        or withdrawal from the Custodial Account shall be limited to amounts on deposit
        in the Custodial Account with respect to the related REO Property;

      

      (vii) to
        reimburse itself for any Servicing Advances or REO expenses after liquidation
        of
        the Mortgaged Property not otherwise reimbursed above;

      

      (viii) to
        remove
        funds inadvertently placed in the Custodial Account by the Company;
        and

      

      (ix) to
        clear
        and terminate the Custodial Account upon the termination of this
        Agreement.

      

      In
        the
        event that the Custodial Account is interest bearing, on each Remittance
        Date,
        the Company shall withdraw all funds from the Custodial Account except for
        those
        amounts which, pursuant to Section 5.01, the Company is not obligated to
        remit
        on such Remittance Date. The Company may use such withdrawn funds only for
        the
        purposes described in this Section 4.05.

      

      Section
        4.06 Establishment
        of and Deposits to Escrow Account.

      

      The
        Company shall segregate and hold all funds collected and received pursuant
        to a
        Mortgage Loan constituting Escrow Payments separate and apart from any of
        its
        own funds and general assets and shall establish and maintain one or more
        Escrow
        Accounts, in the form of time deposit or demand accounts, titled, "Wells
        Fargo
        Bank, N.A., in trust for the Purchaser and/or subsequent purchasers of
        Residential Mortgage Loans, and various Mortgagors - T & I." The Escrow
        Accounts shall be established with a Qualified Depository, in a manner which
        shall provide maximum available insurance thereunder. Upon request of the
        Purchaser and within ten (10) days thereof, the Company shall provide the
        Purchaser with written confirmation of the existence of such Escrow Account.
        Funds deposited in the Escrow Account may be drawn on by the Company in
        accordance with Section 4.07.

      

      The
        Company shall deposit in the Escrow Account or Accounts within one (1) Business
        Days of Company’s receipt, and retain therein:

      

      
        	 	
                (i)

              	
                all
                  Escrow Payments collected on account of the Mortgage Loans, for
                  the
                  purpose of effecting timely payment of any such items as required
                  under
                  the terms of this Agreement;

              

      

      

      
        	 	
                (ii)

              	
                all
                  amounts representing Insurance Proceeds or Condemnation Proceeds
                  which are
                  to be applied to the restoration or repair of any Mortgaged Property;
                  and

              

      

      

      
        	 	
                (iii)

              	
                all
                  payments on account of Buydown
                  Funds.

              

      

      

      The
        Company shall make withdrawals from the Escrow Account only to effect such
        payments as are required under this Agreement, as set forth in Section 4.07.
        The
        Company shall be entitled to retain any interest paid on funds deposited
        in the
        Escrow Account by the depository institution, other than interest on escrowed
        funds required by law to be paid to the Mortgagor. To the extent required
        by
        law, the Company shall pay interest on escrowed funds to the Mortgagor
        notwithstanding that the Escrow Account may be non-interest bearing or that
        interest paid thereon is insufficient for such purposes.

      

      Section
        4.07 Permitted
        Withdrawals From Escrow Account.

      

      Withdrawals
        from the Escrow Account or Accounts may be made by the Company
        only:

      

      
        	 	
                (i)

              	
                to
                  effect timely payments of ground rents, taxes, assessments, water
                  rates,
                  mortgage insurance premiums, condominium charges, fire and hazard
                  insurance premiums or other items constituting Escrow Payments
                  for the
                  related Mortgage;

              

      

      

      
        	 	
                (ii)

              	
                to
                  reimburse the Company for any Servicing Advances made by the Company
                  pursuant to Section 4.08 with respect to a related Mortgage Loan,
                  but only
                  from amounts received on the related Mortgage Loan which represent
                  late
                  collections of Escrow Payments
                  thereunder;

              

      

      

      
        	 	
                (iii)

              	
                to
                  refund to any Mortgagor any funds found to be in excess of the
                  amounts
                  required under the terms of the related Mortgage
                  Loan;

              

      

      

      
        	 	
                (iv)

              	
                for
                  transfer to the Custodial Account and application to reduce the
                  principal
                  balance of the Mortgage Loan in accordance with the terms of the
                  related
                  Mortgage and Mortgage Note;

              

      

      

      
        	 	
                (v)

              	
                for
                  application to restoration or repair of the Mortgaged Property
                  in
                  accordance with the procedures outlined in Section
                  4.14;

              

      

      

      
        	 	
                (vi)

              	
                to
                  pay to the Company, or any Mortgagor to the extent required by
                  law, any
                  interest paid on the funds deposited in the Escrow
                  Account;

              

      

      

      
        	 	
                (vii)

              	
                to
                  remove funds inadvertently placed in the Escrow Account by the
                  Company;

              

      

      

      
        	 	
                (viii)

              	
                to
                  remit to Purchaser payments on account of Buydown Funds as applicable;
                  and

              

      

      

      
        	 	
                (ix)

              	
                to
                  clear and terminate the Escrow Account on the termination of this
                  Agreement.

              

      

      

      Section
        4.08 Payment
        of Taxes, Insurance and Other Charges.

      

      With
        respect to each Mortgage Loan, the Company shall maintain accurate records
        reflecting the status of ground rents, taxes, assessments, water rates, sewer
        rents, and other charges which are or may become a lien upon the Mortgaged
        Property and the status of PMI Policy premiums and fire and hazard insurance
        coverage and shall obtain, from time to time, all bills for the payment of
        such
        charges (including renewal premiums) and shall effect payment thereof prior
        to
        the applicable penalty or termination date, employing for such purpose deposits
        of the Mortgagor in the Escrow Account which shall have been estimated and
        accumulated by the Company in amounts sufficient for such purposes, as allowed
        under the terms of the Mortgage. The Company assumes full responsibility
        for the
        timely payment of all such bills and shall effect timely payment of all such
        charges irrespective of each Mortgagor's faithful performance in the payment
        of
        same or the making of the Escrow Payments, and the Company shall make advances
        from its own funds to effect such payments.

      

      Section
        4.09 Protection
        of Accounts.

      

      The
        Company may transfer the Custodial Account, the Subsidy Account or the Escrow
        Account to a different Qualified Depository from time to time with prior
        written
        notice to Purchaser.

      

      Section
        4.10 Maintenance
        of Hazard Insurance.

      

      The
        Company shall cause to be maintained for each Mortgage Loan hazard insurance
        such that all buildings upon the Mortgaged Property are insured by an insurer
        acceptable to Fannie Mae or Freddie Mac against loss by fire, hazards of
        extended coverage and such other hazards as are customary in the area where
        the
        Mortgaged Property is located, in an amount which is at least equal to the
        lesser of (i) 100% of the insurable value, on a replacement cost basis, of
        the
        improvements on the related Mortgaged Property, and (ii) the greater of (a)
        the
        outstanding principal balance of the Mortgage Loan and (b) an amount such
        that
        the proceeds of such insurance shall be sufficient to prevent the application
        to
        the Mortgagor or the loss payee of any coinsurance clause under the policy.
        In
        the event a hazard insurance policy shall be in danger of being terminated,
        or
        in the event the insurer shall cease to be acceptable to Fannie Mae or Freddie
        Mac, the Company shall notify the Purchaser and the related Mortgagor, and
        shall
        use its best efforts, as permitted by applicable law, to obtain from another
        qualified insurer a replacement hazard insurance policy substantially and
        materially similar in all respects to the original policy. In no event, however,
        shall a Mortgage Loan be without a hazard insurance policy at any time, subject
        only to Section 4.11 hereof.

      

      If
        upon
        origination of the Mortgage Loan, the related Mortgaged Property was located
        in
        an area identified by the Flood 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 with a generally acceptable
        insurance carrier acceptable to Fannie Mae or Freddie Mac in an amount
        representing coverage equal to the lesser of (i) the minimum amount required,
        under the terms of coverage, to compensate for any damage or loss on a
        replacement cost basis (or the unpaid balance of the mortgage if replacement
        cost coverage is not available for the type of building insured) and (ii)
        the
        maximum amount of insurance which is available under the Flood Disaster
        Protection Act of 1973, as amended. If at any time during the term of the
        Mortgage Loan, the Company determines in accordance with applicable law that
        a
        Mortgaged Property is located in a special flood hazard area and is not covered
        by flood insurance or is covered in an amount less than the amount required
        by
        the Flood Disaster Protection Act of 1973, as amended, the Company shall
        notify
        the related Mortgagor that the Mortgagor must obtain such flood insurance
        coverage, and if said Mortgagor fails to obtain the required flood insurance
        coverage within forty-five (45) days after such notification, the Company
        shall
        immediately force place the required flood insurance on the Mortgagor’s behalf,
        as permitted by applicable law.

      

      If
        a
        Mortgage is secured by a unit in a condominium project, the Company shall
        verify
        that the coverage required of the owner's association, including hazard,
        flood,
        liability, and fidelity coverage, is being maintained in accordance with
        then
        current Fannie Mae requirements, and secure from the owner's association
        its
        agreement to notify the Company promptly of any change in the insurance coverage
        or of any condemnation or casualty loss that may have a material effect on
        the
        value of the Mortgaged Property as security.

      

       

      In
        the
        event that any Purchaser or the Company shall determine that the Mortgaged
        Property should be insured against loss or damage by hazards and risks not
        covered by the insurance required to be maintained by the Mortgagor pursuant
        to
        the terms of the Mortgage, the Company shall communicate and consult with
        the
        Mortgagor with respect to the need for such insurance and bring to the
        Mortgagor's attention the required amount of coverage for the Mortgaged Property
        and if the Mortgagor does not obtain such coverage, the Company shall
        immediately force place the required coverage on the Mortgagor’.

      

      All
        policies required hereunder shall name the Company as loss payee and shall
        be
        endorsed with standard or union mortgagee clauses, without contribution,
        which
        shall provide for at least 30 days prior written notice of any cancellation,
        reduction in amount or material change in coverage.

      

      The
        Company shall not interfere with the Mortgagor's freedom of choice in selecting
        either his insurance carrier or agent, provided, however, that the Company
        shall
        not accept any such insurance policies from insurance companies unless such
        companies are acceptable to Fannie Mae and Freddie Mac and are licensed to
        do
        business in the jurisdiction in which the Mortgaged Property is located.
        The
        Company shall determine that such policies provide sufficient risk coverage
        and
        amounts, that they insure the property owner, and that they properly describe
        the property address.

      

      Pursuant
        to Section 4.04, any amounts collected by the Company under any such policies
        (other than amounts to be deposited in the Escrow Account and applied to
        the
        restoration or repair of the related Mortgaged Property, or property acquired
        in
        liquidation of the Mortgage Loan, or to be released to the Mortgagor, in
        accordance with the Company's normal servicing procedures as specified in
        Section 4.14) shall be deposited in the Custodial Account subject to withdrawal
        pursuant to Section 4.05.

      

      Section
        4.11 Maintenance
        of Mortgage Impairment Insurance.

      

      In
        the
        event that the Company shall obtain and maintain a blanket policy insuring
        against losses arising from fire and hazards covered under extended coverage
        on
        all of the Mortgage Loans, then, to the extent such policy provides coverage
        in
        an amount equal to the amount required pursuant to Section 4.10 and otherwise
        complies with all other requirements of Section 4.10, it shall conclusively
        be
        deemed to have satisfied its obligations as set forth in Section 4.10. The
        Company shall prepare and make any claims on the blanket policy as deemed
        necessary by the Company in accordance with Accepted Servicing Practices.
        Any
        amounts collected by the Company under any such policy relating to a Mortgage
        Loan shall be deposited in the Custodial Account subject to withdrawal pursuant
        to Section 4.05. Such policy may contain a deductible clause, in which case,
        in
        the event that there shall not have been maintained on the related Mortgaged
        Property a policy complying with Section 4.10, and there shall have been
        a loss
        which would have been covered by such policy, the Company shall deposit in
        the
        Custodial Account at the time of such loss the amount not otherwise payable
        under the blanket policy because of such deductible clause, such amount to
        be
        deposited from the Company's funds, without reimbursement therefor. Upon
        request
        of the Purchaser, the Company shall cause to be delivered to such Purchaser
        a
        certificate of insurance and a statement from the insurer thereunder that
        such
        policy shall in no event be terminated or materially modified without 30
        days'
        prior written notice to such Purchaser.

      

      Section
        4.12 Maintenance
        of Fidelity Bond and Errors and Omissions Insurance.

      

      The
        Company shall maintain with responsible companies, at its own expense, a
        blanket
        Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage
        on all officers, employees or other Persons acting in any capacity requiring
        such Persons to handle funds, money, documents or papers relating to the
        Mortgage Loans ("Company Employees"). Any such Fidelity Bond and Errors and
        Omissions Insurance Policy shall be in the form of the Mortgage Banker's
        Blanket
        Bond and shall protect and insure the Company against losses, including forgery,
        theft, embezzlement, fraud, errors and omissions and negligent acts of such
        Company Employees. Such Fidelity Bond and Errors and Omissions Insurance
        Policy
        also shall protect and insure the Company against losses in connection with
        the
        release or satisfaction of a Mortgage Loan without having obtained payment
        in
        full of the indebtedness secured thereby. No provision of this Section 4.12
        requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall
        diminish or relieve the Company from its duties and obligations as set forth
        in
        this Agreement. The minimum coverage under any such bond and insurance policy
        shall be with a company acceptable to Fannie Mae or Freddie Mac and in amounts
        at least equal to the amounts acceptable to Fannie Mae or Freddie Mac. Upon
        the
        request of any Purchaser, the Company shall cause to be delivered to such
        Purchaser a certified true copy of such fidelity bond and insurance policy
        and a
        statement from the surety and the insurer that such fidelity bond and insurance
        policy shall in no event be terminated or materially modified without 30
        days'
        prior written notice to the Purchaser.

      

      Section
        4.13 Inspections.

      

      If
        any
        Mortgage Loan is more than 60 days delinquent, the Company immediately shall
        inspect the Mortgaged Property and shall conduct subsequent inspections in
        accordance with Accepted Servicing Practices or as may be required by the
        primary mortgage guaranty insurer. The Company shall keep a record of each
        such
        inspection and shall provide the Purchaser with copies of such upon
        request.

      

      Section
        4.14 Restoration
        of Mortgaged Property.

      

      The
        Company need not obtain the approval of the Purchaser prior to releasing
        any
        Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied
        to
        the restoration or repair of the Mortgaged Property if such release is in
        accordance with Accepted Servicing Practices. For claims greater than $15,000,
        at a minimum the Company shall comply with the following conditions in
        connection with any such release of Insurance Proceeds or Condemnation
        Proceeds:

      

      (i) the
        Company shall receive satisfactory independent verification of completion
        of
        repairs and issuance of any required approvals with respect
        thereto;

      

      (ii) the
        Company shall take all steps necessary to preserve the priority of the lien
        of
        the Mortgage, including, but not limited to requiring waivers with respect
        to
        mechanics' and materialmen's liens;

      

      (iii) the
        Company shall verify that the Mortgage Loan is not in default; and

      

      (iv) pending
        repairs or restoration, the Company shall place the Insurance Proceeds or
        Condemnation Proceeds in the Escrow Account.

      

      If
        the
        Purchaser is named as an additional loss payee, the Company is hereby empowered
        to endorse any loss draft issued in respect of such a claim in the name of
        the
        Purchaser.

      

      Section
        4.15 Maintenance
        of PMI Policy; Claims.

      

      Each
        Mortgage Loan has an LTV as indicated on the Mortgage Loan Schedule and
        Electronic Data File. Except as indicated on the Electronic Data File, with
        respect to each Mortgage Loan with an LTV in excess of 80% at the time of
        origination, the Company shall, without any cost to the Purchaser maintain
        or
        cause the Mortgagor to maintain in full force and effect a PMI Policy or
        LPMI
        Policy insuring a portion of the unpaid principal balance of the Mortgage
        Loan
        as to payment defaults. If the Mortgage Loan is insured by a PMI Policy for
        which the Mortgagor pays all premiums, the coverage will remain in place
        until
        (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated
        pursuant to the Homeowners Protection Act of 1998, 12 USC 4901, et seq. In
        the
        event that such PMI Policy shall be terminated other than as required by
        law,
        the Company shall obtain from another Qualified Insurer a comparable replacement
        policy, with a total coverage equal to the remaining coverage of such terminated
        PMI Policy. If the insurer shall cease to be a Qualified Insurer, the Company
        shall determine whether recoveries under the PMI Policy and LPMI Policy are
        jeopardized for reasons related to the financial condition of such insurer,
        it
        being understood that the Company shall in no event have any responsibility
        or
        liability for any failure to recover under the PMI Policy or LPMI Policy
        for
        such reason. If the Company determines that recoveries are so jeopardized,
        it
        shall notify the Purchaser and the Mortgagor, if required, and obtain from
        another Qualified Insurer a replacement insurance policy. The Company shall
        not
        take any action which would result in noncoverage under any applicable PMI
        Policy or LPMI Policy of any loss which, but for the actions of the Company
        would have been covered thereunder. In connection with any assumption or
        substitution agreement entered into or to be entered into pursuant to Section
        6.01, the Company shall promptly notify the insurer under the related PMI
        Policy
        or LPMI Policy, if any, of such assumption or substitution of liability in
        accordance with the terms of such PMI Policy or LPMI Policy and shall take
        all
        actions which may be required by such insurer as a condition to the continuation
        of coverage under such PMI Policy or LPMI Policy. If such PMI Policy is
        terminated as a result of such assumption or substitution of liability, the
        Company shall obtain a replacement PMI Policy or LPMI Policy as provided
        above.

      

      In
        connection with its activities as servicer, the Company agrees to prepare
        and
        present, on behalf of itself and the Purchaser, claims to the insurer under
        any
        PMI Policy in a timely fashion in accordance with the terms of such PMI Policy
        and, in this regard, to take such action as shall be necessary to permit
        recovery under any PMI Policy respecting a defaulted Mortgage Loan. Pursuant
        to
        Section 4.04, any amounts collected by the Company under any PMI Policy shall
        be
        deposited in the Custodial Account, subject to withdrawal pursuant to Section
        4.05.

      

      Section
        4.16 Title,
        Management and Disposition of REO Property.

      

      In
        the
        event that title to any Mortgaged Property is acquired in foreclosure or
        by deed
        in lieu of foreclosure, the deed or certificate of sale shall be taken in
        the
        name of the Purchaser, or in the event the Purchaser is not authorized or
        permitted to hold title to real property in the state where the REO Property
        is
        located, or would be adversely affected under the "doing business" or tax
        laws
        of such state by so holding title, the deed or certificate of sale shall
        be
        taken in the name of such Person or Persons as shall be consistent with an
        Opinion of Counsel obtained by the Company from any attorney duly licensed
        to
        practice law in the state where the REO Property is located. The Person or
        Persons holding such title other than the Purchaser shall acknowledge in
        writing
        that such title is being held as nominee for the Purchaser.

      

      The
        Purchaser shall have the option to manage and operate the REO Property provided
        the Purchaser gives written notice of its intention to do so within thirty
        (30)
        days after such REO Property is acquired in foreclosure or by deed in lieu
        of
        foreclosure. The election by the Purchaser to manage the REO Property shall
        not
        constitute a termination of any rights of the Company pursuant to Section
        11.02.
        Upon the Company's receipt of such written notice, it shall be relived of
        any
        obligation to manage, conserve, protect, operate, dispose or sell the Mortgaged
        Property for the Purchaser, or its designee. All such duties will become
        the
        obligation of the Purchaser, or its designee. In such connection, upon the
        Mortgaged Property being acquired on behalf of the Purchaser, or its designee,
        the Company shall fully cooperate with Purchaser to transfer management of
        the
        REO Property to Purchaser, or its designee, and shall immediately submit
        a
        statement of expenses to the Purchaser for reimbursement within 30 days for
        all
        Monthly Advances and Servicing Advances. If Company does not receive
        reimbursement of such expenses from the Purchaser within the 30-days of the
        statement of expenses, Company shall be permitted to withdraw such amount
        from
        the Custodial Account pursuant to Section 4.05.

      

      In
        the
        event the Purchaser does not elect to manage an REO Property, the Company
        shall
        manage, conserve and protect the related REO Property for the Purchaser.
        The
        Company, either itself or through an agent selected by the Company, shall
        manage
        the REO Property in the same manner that it manages, conserves, protects
        and
        operates other foreclosed property for its own account, and in the same manner
        that similar property in the same locality as the REO Property is managed.
        The
        Company shall attempt to sell the same (and may temporarily rent the same
        for a
        period not greater than one year, except as otherwise provided below) on
        such
        terms and conditions as the Company deems to be in the best interest of the
        Purchaser.

      

      The
        Company shall use its best efforts to dispose of the REO Property as soon
        as
        possible and shall sell such REO Property in any event within one year after
        title has been taken to such REO Property, unless (i) a REMIC election has
        not
        been made with respect to the arrangement under which the Mortgage Loans
        and the
        REO Property are held, and (ii) the Company determines, and gives an appropriate
        notice to the Purchaser to such effect, that a longer period is necessary
        for
        the orderly liquidation of such REO Property. If a period longer than one
        year
        is permitted under the foregoing sentence and is necessary to sell any REO
        Property, (i) the Company shall report monthly to the Purchaser as to the
        progress being made in selling such REO Property and (ii) if, with the written
        consent of the Purchaser, a purchase money mortgage is taken in connection
        with
        such sale, such purchase money mortgage shall name the Company as mortgagee,
        and
        such purchase money mortgage shall not be held pursuant to this Agreement,
        but
        instead a separate participation agreement among the Company and Purchaser
        shall
        be entered into with respect to such purchase money mortgage.

      

      The
        Company shall also maintain on each REO Property fire and hazard insurance
        with
        extended coverage in amount which is at least equal to the maximum insurable
        value of the improvements which are a part of such property, liability insurance
        and, to the extent required and available under the Flood Disaster Protection
        Act of 1973, as amended, flood insurance in the amount required
        above.

      

      The
        disposition of REO Property shall be carried out by the Company at such price,
        and upon such terms and conditions, as the Company deems to be in the best
        interests of the Purchaser. The proceeds of sale of the REO Property shall
        be
        promptly deposited in the Custodial Account. As soon as practical thereafter
        the
        expenses of such sale shall be paid and the Company shall reimburse itself
        for
        any related unreimbursed Servicing Advances, unpaid Servicing Fees and
        unreimbursed advances made pursuant to Section 5.03. On the Remittance Date
        immediately following the Principal Prepayment Period in which such sale
        proceeds are received the net cash proceeds of such sale remaining in the
        Custodial Account shall be distributed to the Purchaser.

      

      The
        Company shall withdraw the Custodial Account funds necessary for the proper
        operation management and maintenance of the REO Property, including the cost
        of
        maintaining any hazard insurance pursuant to Section 4.10 and the fees of
        any
        managing agent of the Company, or the Company itself. The Company shall make
        monthly distributions on each Remittance Date to the Purchaser of the net
        cash
        flow from the REO Property (which shall equal the revenues from such REO
        Property net of the expenses described in the Section 4.16 and of any reserves
        reasonably required from time to time to be maintained to satisfy anticipated
        liabilities for such expenses).

      

      Section
        4.17 Real
        Estate Owned Reports.

      

      Together
        with the statement furnished pursuant to Section 5.02, the Company shall
        furnish
        to the Purchaser on or before the Remittance Date each month a statement
        with
        respect to any REO Property covering the operation of such REO Property for
        the
        previous month and the Company's efforts in connection with the sale of such
        REO
        Property and any rental of such REO Property incidental to the sale thereof
        for
        the previous month. That statement shall be accompanied by such other
        information as the Purchaser shall reasonably request.

      

      Section
        4.18 Liquidation
        Reports.

      

      Upon
        the
        foreclosure sale of any Mortgaged Property or the acquisition thereof by
        the
        Purchaser pursuant to a deed in lieu of foreclosure, the Company shall submit
        to
        the Purchaser a liquidation report with respect to such Mortgaged
        Property.

      

      Section
        4.19 Reports
        of Foreclosures and Abandonments of Mortgaged Property.

      

      Following
        the foreclosure sale or abandonment of any Mortgaged Property, the Company
        shall
        report such foreclosure or abandonment as required pursuant to Section 6050J
        of
        the Code. The Company shall file information reports with respect to the
        receipt
        of mortgage interest received in a trade or business and information returns
        relating to cancellation of indebtedness income with respect to any Mortgaged
        Property as required by the Code. Such reports shall be in form and substance
        sufficient to meet the reporting requirements imposed by the Code.

      

      Section
        4.20 Application
        of Buydown Funds.

      

      With
        respect to each Buydown Mortgage Loan, the Company shall have deposited into
        the
        Escrow Account, no later than the last day of the month, Buydown Funds in
        an
        amount equal to the aggregate undiscounted amount of payments that, when
        added
        to the amount the Mortgagor on such Mortgage Loan is obligated to pay on
        all Due
        Dates in accordance with the terms of the Buydown Agreement, is equal to
        the
        full scheduled Monthly Payments which are required to be paid by the Mortgagor
        under the terms of the related Mortgage Note (without regard to the related
        Buydown Agreement as if the Mortgage Loan were not subject to the terms of
        the
        Buydown Agreement). With respect to each Buydown Mortgage Loan, the Company
        will
        distribute to the Purchaser on each Remittance Date an amount of Buydown
        Funds
        equal to the amount that, when added to the amount required to be paid on
        such
        date by the related Mortgagor, pursuant to and in accordance with the related
        Buydown Agreement, equals the full Monthly Payment that would otherwise be
        required to be paid on such Mortgage Loan by the related Mortgagor under
        the
        terms of the related Mortgage Note (as if the Mortgage Loan were not a Buydown
        Mortgage Loan and without regard to the related Buydown Agreement).

      

      If
        the
        Mortgagor on a Buydown Mortgage Loan defaults on such Mortgage Loan during
        the
        Buydown Period and the Mortgaged Property securing such Buydown Mortgage
        Loan is
        sold in the liquidation thereof (either by the Company or the insurer under
        any
        related Primary Insurance Policy) the Company shall, on the Remittance Date
        following the date upon which Liquidation Proceeds or REO Disposition proceeds
        are received with respect to any such Buydown Mortgage Loan, distribute to
        the
        Purchaser all remaining Buydown Funds for such Mortgage Loan then remaining
        in
        the Escrow Account. Pursuant to the terms of each Buydown Agreement, any
        amounts
        distributed to the Purchaser in accordance with the preceding sentence will
        be
        applied to reduce the outstanding principal balance of the related Buydown
        Mortgage Loan. If a Mortgagor on a Buydown Mortgage Loan prepays such Mortgage
        Loan in its entirety during the related Buydown Period, the Company shall
        be
        required to withdraw from the Escrow Account any Buydown Funds remaining
        in the
        Escrow Account with respect to such Buydown Mortgage Loan in accordance with
        the
        related Buydown Agreement. If a principal prepayment by a Mortgagor on a
        Buydown
        Mortgage Loan during the related Buydown Period, together with any Buydown
        Funds
        then remaining in the Escrow Account related to such Buydown Mortgage Loan,
        would result in a principal prepayment of the entire unpaid principal balance
        of
        the Buydown Mortgage Loan, the Company shall distribute to the Purchaser
        on the
        Remittance Date occurring in the month immediately succeeding the month in
        which
        such Principal Prepayment is received, all Buydown Funds related to such
        Mortgage Loan so remaining in the Escrow Account, together with any amounts
        required to be deposited into the Custodial Account.

      

      Section
        4.21 Notification
        of Adjustments.

      

      With
        respect to each adjustable rate Mortgage Loan, the Company shall adjust the
        Mortgage Interest Rate on the related Interest Rate Adjustment Date in
        compliance with the requirements of applicable law and the related Mortgage
        and
        Mortgage Note. The Company shall execute and deliver any and all necessary
        notices required under applicable law and the terms of the related Mortgage
        Note
        and Mortgage regarding the Mortgage Interest Rate adjustments. Upon the
        discovery by the Company or the receipt of notice from the Purchaser that
        the
        Company has failed to adjust a Mortgage Interest Rate in accordance with
        the
        terms of the related Mortgage Note, the Company shall immediately deposit
        in the
        Custodial Account from its own funds the amount of any interest loss or deferral
        caused the Purchaser thereby.

      

      Section
        4.22 Confidentiality/Protection
        of Customer Information.

      

      The
        Company shall keep confidential and shall not divulge to any party, without
        the
        Purchaser's prior written consent, the price paid by the Purchaser for the
        Mortgage Loans, except to the extent that it is reasonable and necessary
        for the
        Company to do so in working with legal counsel, auditors, taxing authorities
        or
        other governmental agencies. Each party agrees that it shall comply with
        all
        applicable laws and regulations regarding the privacy or security of Customer
        Information and shall maintain appropriate administrative, technical and
        physical safeguards to protect the security, confidentiality and integrity
        of
        Customer Information, including maintaining security measures designed to
        meet
        the Interagency Guidelines Establishing Standards for Safeguarding Customer
        Information, 66 Fed. Reg. 8616 (the “Interagency Guidelines”), if applicable.
        For purposes of this Section 4.22, the term “Customer Information” shall have
        the meaning assigned to it in the Interagency Guidelines. 

      

      Section
        4.23 Fair
        Credit Reporting Act

      

      The
        Company, in its capacity as servicer for each Mortgage Loan, agrees to fully
        furnish, in accordance with the Fair Credit Reporting Act and its implementing
        regulations, accurate and complete information (e.g., favorable and unfavorable)
        on its borrower credit files to Equifax, Experian and Trans Union Credit
        Information Company (three of the credit repositories), on a monthly
        basis.

       

      Section
        4.24 Establishment
        of and Deposits to Subsidy Account.  

       

       

      The
        Company shall segregate and hold all Subsidy Funds collected and received
        pursuant to the Subsidy Loans separate and apart from any of its own funds
        and
        general assets and shall establish and maintain one or more Subsidy Accounts,
        in
        the form of time deposit or demand accounts, titled “Wells Fargo Bank, N.A., in
        trust for the Purchaser, its successors or assigns, and/or subsequent purchasers
        of residential Mortgage Loans, and various Mortgagors.” The Subsidy Account
        shall be an eligible deposit account established with an eligible
        institution.

       

       

      The
        Company shall, from time to time, withdraw funds from the Subsidy Account
        for
        the following purposes:

       

       

      
        	 	
                (i)

              	
                to
                  deposit in the Custodial Account in the amounts and in the manner
                  provided
                  for in Section 4.04(xi);

              

      

       

       

      
        	 	
                (ii)

              	
                to
                  transfer funds to another eligible institution in accordance with
                  Section
                  4.09 hereof;

              

      

       

       

      (iii) to
        withdraw funds deposited in error; and

       

       

      
        	 	
                (iv)

              	
                to
                  clear and terminate the Subsidy Account upon the termination of
                  this
                  Agreement.

              

      

       

       

      Notwithstanding
        anything to the contrary elsewhere in this Agreement, the Company may employ
        the
        Escrow Account as the Subsidy Account to the extent that the Company can
        separately identify any Subsidy Funds deposited therein.

       

      

      Section
        4.25 Use
        of
        Subservicers and Subcontractors.

      

      The
        Company shall not hire or otherwise utilize the services of any Subservicer
        to
        fulfill any of the obligations of the Company under this Agreement or any
        Reconstitution Agreement unless the Company complies with the provisions
        of
        paragraph (a) of this Section 4.25. The Company shall not hire or otherwise
        utilize the services of any Subcontractor, and shall not permit any Subservicer
        to hire or otherwise utilize the services of any Subcontractor, to fulfill
        any
        of the obligations of the Company under this Agreement or any Reconstitution
        Agreement unless the Company complies with the provisions of paragraph (b)
        of
        this Section 4.25.

      

      (a) It
        shall
        not be necessary for the Company to seek the consent of the Purchaser or
        any
        Depositor to the utilization of any Subservicer. The Company shall cause
        any
        Subservicer used by the Company (or by any Subservicer) for the benefit of
        the
        Purchaser and any Depositor to comply with the provisions of this Section
        4.25
        and with Sections 6.04, 6.06, 9.01(e)(iii), 9.01(e)(v) and 9.01(f) of this
        Agreement to the same extent as if such Subservicer were the Company, and
        to
        provide the information required with respect to such Subservicer under Section
        9.01(e)(iv) of this Agreement. The Company shall be responsible for obtaining
        from each Subservicer and delivering to the Purchaser and any Depositor any
        servicer compliance statement required to be delivered by such Subservicer
        under
        Section 6.04 and any assessment of compliance and attestation required to
        be
        delivered by such Subservicer under Section 6.06 and any certification required
        to be delivered to the Person that will be responsible for signing the Sarbanes
        Certification under Section 6.06 as and when required to be
        delivered.

      

      (b) It
        shall
        not be necessary for the Company to seek the consent of the Purchaser or
        any
        Depositor to the utilization of any Subcontractor. The Company shall promptly
        upon request provide to the Purchaser and any Depositor (or any designee
        of the
        Depositor, such as a master servicer or administrator) a written description
        (in
        form and substance satisfactory to the Purchaser and such Depositor) of the
        role
        and function of each Subcontractor utilized by the Company or any Subservicer,
        specifying (i) the identity of each such Subcontractor, (ii) which (if any)
        of
        such Subcontractors are “participating in the servicing function” within the
        meaning of Item 1122 of Regulation AB, and (iii) which elements of the Servicing
        Criteria will be addressed in assessments of compliance provided by each
        Subcontractor identified pursuant to clause (ii) of this paragraph.

      

      As
        a
        condition to the utilization of any Subcontractor determined to be
“participating in the servicing function” within the meaning of Item 1122 of
        Regulation AB, the Company shall cause any such Subcontractor used by the
        Company (or by any Subservicer) for the benefit of the Purchaser and any
        Depositor to comply with the provisions of Sections 6.06 and 9.01(f) of this
        Agreement to the same extent as if such Subcontractor were the Company. The
        Company shall be responsible for obtaining from each Subcontractor and
        delivering to the Purchaser and any Depositor any assessment of compliance
        and
        attestation required to be delivered by such Subcontractor under Section
        6.06,
        in each case as and when required to be delivered.

      

       

      ARTICLE
        V

       

      PAYMENTS
        TO PURCHASER

      

      Section
        5.01 Remittances.

      

      On
        each
        Remittance Date the Company shall remit by wire transfer of immediately
        available funds to the Purchaser (a) all amounts deposited in the Custodial
        Account as of the close of business on the Determination Date (net of charges
        against or withdrawals from the Custodial Account pursuant to Section 4.05),
        plus (b) all amounts, if any, which the Company is obligated to distribute
        pursuant to Section 5.03, minus (c) any amounts attributable to Principal
        Prepayments received after the applicable Principal Prepayment Period which
        amounts shall be remitted on the following Remittance Date, together with
        any
        additional interest required to be deposited in the Custodial Account in
        connection with such Principal Prepayment in accordance with Section 4.04(viii);
        minus (d) any amounts attributable to Monthly Payments collected but due
        on a
        Due Date or Dates subsequent to the first day of the month of the Remittance
        Date, and minus (e) any amounts attributable to Buydown Funds being held
        in the
        Custodial Account, which amounts shall be remitted on the Remittance Date
        next
        succeeding the Due Period for such amounts.

      

      With
        respect to any remittance received by the Purchaser after the Business Day
        on
        which such payment was due, the Company shall pay to the Purchaser interest
        on
        any such late payment at an annual rate equal to the Prime Rate, adjusted
        as of
        the date of each change, plus three percentage points, but in no event greater
        than the maximum amount permitted by applicable law. Such interest shall
        cover
        the period commencing with the day following the Business Day such payment
        was
        due and ending with the Business Day on which such payment is made to the
        Purchaser, both inclusive. Such interest shall be remitted by wire transfer
        of
        immediately available funds within one Business Day following agreement by
        the
        Purchaser and the Company of the penalty amount. The payment by the Company
        of
        any such interest shall not be deemed an extension of time for payment or
        a
        waiver of any Event of Default by the Company.

      

      Section
        5.02 Statements
        to Purchaser.

      

      Not
        later
        than the Remittance Date, the Company shall furnish to the Purchaser a monthly
        remittance advice in the standard form of electronic Alltel® file, as to the
        period ending on the last day of the preceding month. If requested by the
        Purchaser prior to the related Closing Date, the first monthly remittance
        advice
        due to the Purchaser following such Closing Date shall be furnished by the
        12th
        calendar
        day, or if such day is not a Business Day, then the preceding Business
        Day.

      

      Section
        5.03 Monthly
        Advances by Company.

      

      On
        the
        Business Day immediately preceding each Remittance Date, the Company shall
        deposit in the Custodial Account from its own funds or from amounts held
        for
        future distribution an amount equal to all Monthly Payments (with interest
        adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage
        Loans during the applicable Due Period and which were delinquent at the close
        of
        business on the immediately preceding Determination Date or which were deferred
        pursuant to Section 4.01. Any amounts held for future distribution and so
        used
        shall be replaced by the Company by deposit in the Custodial Account on or
        before any future Remittance Date if funds in the Custodial Account on such
        Remittance Date shall be less than payments to the Purchaser required to
        be made
        on such Remittance Date. The Company's obligation to make such Monthly Advances
        as to any Mortgage Loan will continue through the last Monthly Payment due
        prior
        to the payment in full of the Mortgage Loan, or through the last Remittance
        Date
        prior to the Remittance Date for the distribution of all Liquidation Proceeds
        and other payments or recoveries (including REO Disposition Proceeds, Insurance
        Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided,
        however, that such obligation shall cease if the Company determines, in its
        sole
        reasonable opinion, that advances with respect to such Mortgage Loan are
        non-recoverable by the Company from Liquidation Proceeds, Insurance Proceeds,
        REO Disposition Proceeds, Condemnation Proceeds, or otherwise with respect
        to a
        particular Mortgage Loan. In the event that the Company determines that any
        such
        advances are non-recoverable, the Company shall provide the Purchaser with
        a
        certificate signed by two officers of the Company evidencing such
        determination.

      

       

      ARTICLE
        VI

       

      GENERAL
        SERVICING PROCEDURES

      

      Section
        6.01 Transfers
        of Mortgaged Property.

      

      The
        Company shall use its best efforts to enforce any "due-on-sale" provision
        contained in any Mortgage or Mortgage Note and to deny assumption by the
        Person
        to whom the Mortgaged Property has been or is about to be sold whether by
        absolute conveyance or by contract of sale, and whether or not the Mortgagor
        remains liable on the Mortgage and the Mortgage Note. When the Mortgaged
        Property has been conveyed by the Mortgagor, the Company shall, to the extent
        it
        has knowledge of such conveyance, immediately notify the Purchaser and exercise
        its rights to accelerate the maturity of such Mortgage Loan under the
        "due-on-sale" clause applicable thereto, provided, however, that the Company
        shall not exercise such rights if prohibited by law from doing so or if the
        exercise of such rights would impair or threaten to impair any recovery under
        the related PMI Policy, if any.

      

      If
        the
        Company reasonably believes it is unable under applicable law to enforce
        such
        "due-on-sale" clause, the Company shall enter into (i) an assumption and
        modification agreement with the Person to whom such property has been conveyed,
        pursuant to which such Person becomes liable under the Mortgage Note and
        the
        original Mortgagor remains liable thereon or (ii) in the event the Company
        is
        unable under applicable law to require that the original Mortgagor remain
        liable
        under the Mortgage Note and the Company has the prior consent of the primary
        mortgage guaranty insurer, a substitution of liability agreement with the
        purchaser of the Mortgaged Property pursuant to which the original Mortgagor
        is
        released from liability and the purchaser of the Mortgaged Property is
        substituted as Mortgagor and becomes liable under the Mortgage Note. If an
        assumption fee is collected by the Company for entering into an assumption
        agreement the fee will be retained by the Company as additional servicing
        compensation. In connection with any such assumption, neither the Mortgage
        Interest Rate borne by the related Mortgage Note, the term of the Mortgage
        Loan,
        the outstanding principal amount of the Mortgage Loan nor any other materials
        terms shall be changed without Purchaser’s consent.

      

      To
        the
        extent that any Mortgage Loan is assumable, the Company shall inquire diligently
        into the credit worthiness of the proposed transferee, and shall use the
        underwriting criteria for approving the credit of the proposed transferee
        which
        are used with respect to underwriting mortgage loans of the same type as
        the
        Mortgage Loans. If the credit of the proposed transferee does not meet such
        underwriting criteria, the Company diligently shall, to the extent permitted
        by
        the Mortgage or the Mortgage Note and by applicable law, accelerate the maturity
        of the Mortgage Loan.

      

      Section
        6.02 Satisfaction
        of Mortgages and Release of Mortgage Loan Documents.

      

      Upon
        the
        payment in full of any Mortgage Loan, or the receipt by the Company of a
        notification that payment in full will be escrowed in a manner customary
        for
        such purposes, the Company shall notify the Purchaser in the Monthly Remittance
        Advice as provided in Section 5.02, and may request the release of any Mortgage
        Loan Documents.

      

      If
        the
        Company satisfies or releases a Mortgage without first having obtained payment
        in full of the indebtedness secured by the Mortgage or should the Company
        otherwise prejudice any rights the Purchaser may have under the mortgage
        instruments, upon written demand of the Purchaser, the Company shall repurchase
        the related Mortgage Loan at the Repurchase Price by deposit thereof in the
        Custodial Account within 2 Business Days of receipt of such demand by the
        Purchaser. The Company shall maintain the Fidelity Bond and Errors and Omissions
        Insurance Policy as provided for in Section 4.12 insuring the Company against
        any loss it may sustain with respect to any Mortgage Loan not satisfied in
        accordance with the procedures set forth herein.

      

      Section
        6.03 Servicing
        Compensation.

      

      As
        compensation for its services hereunder, the Company shall be entitled to
        withdraw from the Custodial Account or to retain from interest payments on
        the
        Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be
        payable monthly and shall be computed on the basis of the outstanding principal
        balance and for the period respecting which any related interest payment
        on a
        Mortgage Loan is computed. The obligation of the Purchaser to pay the Servicing
        Fee is limited to, and payable solely from, the interest portion of such
        Monthly
        Payments.

      

      Additional
        servicing compensation in the form of assumption fees, to the extent provided
        in
        Section 6.01, and late payment charges shall be retained by the Company to
        the
        extent not required to be deposited in the Custodial Account. The Company
        shall
        be required to pay all expenses incurred by it in connection with its servicing
        activities hereunder and shall not be entitled to reimbursement thereof except
        as specifically provided for herein.

      

      Section
        6.04 Annual
        Statements as to Compliance.

      

      (i) The
        Company shall deliver to the Purchaser, on or before February 28, 2006, an
        Officer's Certificate, stating that (x) a review of the activities of the
        Company during the preceding calendar year and of performance under this
        Agreement or similar agreements has been made under such officer's supervision,
        and (y) to the best of such officer's knowledge, based on such review, the
        Company has fulfilled all its obligations under this Agreement throughout
        such
        year, or, if there has been a default in the fulfillment of any such obligation,
        specifying each such default known to such officer and the nature and status
        thereof and the action being taken by the Company to cure such
        default.

      

      (ii) On
        or
        before March 1 of each calendar year, commencing in 2007, the Company shall
        deliver to the Purchaser and any Depositor a statement of compliance addressed
        to the Purchaser and such Depositor and signed by an authorized officer of
        the
        Company, to the effect that (a) a review of the Company’s activities during the
        immediately preceding calendar year (or applicable portion thereof) and of
        its
        performance under this Agreement and any applicable Reconstitution Agreement
        during such period has been made under such officer’s supervision, and (b) to
        the best of such officers’ knowledge, based on such review, the Company has
        fulfilled all of its obligations under this Agreement and any applicable
        Reconstitution Agreement in all material respects throughout such calendar
        year
        (or applicable portion thereof) or, if there has been a failure to fulfill
        any
        such obligation in any material respect, specifically identifying each such
        failure known to such officer and the nature and the status
        thereof.

      

      Section
        6.05 Annual
        Independent Public Accountants' Servicing Report.

      

      Except
        with respect to Securitization Transactions occurring on or after January
        1,
        2006, on or before February 28, 2006, the Company, at its expense, shall
        cause a
        firm of independent public accountants which is a member of the American
        Institute of Certified Public Accountants to furnish a statement to each
        Purchaser to the effect that such firm has examined certain documents and
        records relating to the servicing of the mortgage loans similar in nature
        and
        that such firm is of the opinion that the provisions of this or similar
        agreements have been complied with, and that, on the basis of such examination
        conducted substantially in compliance with the Single Attestation Program
        for
        Mortgage Bankers, nothing has come to their attention which would indicate
        that
        such servicing has not been conducted in compliance therewith, except for
        (i)
        such exceptions as such firm shall believe to be immaterial, and (ii) such
        other
        exceptions as shall be set forth in such statement. By providing Purchaser
        a
        copy of a Uniform Single Attestation Program Report from their independent
        public accountant's on an annual basis, Company shall be considered to have
        fulfilled its obligations under this Section 6.05.

      

      Section
        6.06 Report
        on Assessment of Compliance and Attestation.

      

      With
        respect to any Mortgage Loans that are the subject of a Securitization
        Transaction occurring on or before March 1 of each calendar year, commencing
        in
        2007, the Company shall:

      

      
        	 	
                (i)

              	
                deliver
                  to the Purchaser and any Depositor a report (in form and substance
                  reasonably satisfactory to the Purchaser and such Depositor) regarding
                  the
                  Company’s assessment of compliance with the Servicing Criteria during the
                  immediately preceding calendar year, as required under Rules 13a-18
                  and
                  15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such
                  report
                  shall be addressed to the Purchaser and such Depositor and signed
                  by an
                  authorized officer of the Company and shall address each of the
                  Servicing
                  Criteria specified on a certification substantially in the form
                  of Exhibit
                  D hereto;

              

      

      

      
        	 	
                (ii)

              	
                deliver
                  to the Purchaser and any Depositor a report of a registered public
                  accounting firm reasonably acceptable to the Purchaser and such
                  Depositor
                  that attests to, and reports on, the assessment of compliance made
                  by the
                  Company and delivered pursuant to the preceding paragraph. Such
                  attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g)
                  of
                  Regulation S-X under the Securities Act and the Exchange Act;
                  

              

      

      

      
        	 	
                (iii)

              	
                cause
                  each Subservicer and each Subcontractor, determined by the Company
                  pursuant to Section 425(b) to be “participating in the servicing function”
                  within the meaning of Item 1122 of Regulation AB, to deliver to
                  the
                  Purchaser and such Depositor an assessment of compliance and accountants’
                  attestation as and when provided in paragraphs (a) and (b) of this
                  Section
                  6.06; and 

              

      

      

      
        	 	
                (iv)

              	
                deliver
                  to the Purchaser, any Depositor and any other Person that will
                  be
                  responsible for signing the certification (a “Sarbanes Certification”)
                  required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act
                  (pursuant
                  to Section 302 of the Sarbanes-Oxley Act of 2002) on behalf of
                  an
                  asset-backed issuer with respect to a Securitization Transaction
                  a
                  certification in the form attached hereto as Exhibit
                  E.

              

      

      

      The
        Company acknowledges that the parties identified in clause (iv) above may
        rely
        on the certification provided by the Company pursuant to such clause in signing
        a Sarbanes Certification and filing such with the Commission.

      

      Section
        6.07 Remedies.

      

      (i) Any
        failure by the Company, any Subservicer, any Subcontractor or any Third-Party
        Originator to deliver any information, report, certification, accountants’
letter or other material when and as required under Article 9, Section 6.04,
        Section 6.05 or Section 6.06, or any breach by the Company of a representation
        or warranty set forth in Section 9.01(e)(iv)(A), or in a writing furnished
        pursuant to Section 9.01(e)(iv)(B) and made as of a date prior to the closing
        date of the related Securitization Transaction, to the extent that such breach
        is not cured by such closing date, or any breach by the Company of a
        representation or warranty in a writing furnished pursuant to Section
        9.01(e)(iv)(B) to the extent made as of a date subsequent to such closing
        date,
        shall, except as provided in sub-clause (ii) of this Section, immediately
        and
        automatically, without notice or grace period, constitute an Event of Default
        with respect to the Company under this Agreement and any applicable
        Reconstitution Agreement, and shall entitle the Purchaser or Depositor, as
        applicable, in its sole discretion to terminate the rights and obligations
        of
        the Company as servicer under this Agreement and/or any applicable
        Reconstitution Agreement without payment (notwithstanding anything in this
        Agreement or any applicable Reconstitution Agreement to the contrary) of
        any
        compensation to the Company; provided that to the extent than any provision
        of
        this Agreement and/or any applicable Reconstitution Agreement expressly provides
        for the survival of certain rights or obligations following termination of
        the
        Company as servicer, such provision shall be given effect.

      

      (ii) Any
        failure by the Company, any Subservicer or any Subcontractor to deliver any
        information, report, certification or accountants’ letter when and as required
        under Section 6.04, Section 6.05 or Section 6.06, including any failure by
        the
        Company to identify any Subcontract “participating in the servicing function”
within the meaning of Item 1122 of Regulation AB, which continues unremedied
        for
        ten (10) calendar days after the date on which such information, report,
        certification or accountants’ letter was required to be delivered shall
        constitute an Event of Default with respect to the Company under this Agreement
        and any applicable Reconstitution Agreement, and shall entitle the Purchaser
        or
        Depositor, as applicable, in its sole discretion to terminate the rights
        and
        obligations of the Company under this Agreement and/or any applicable
        Reconstitution Agreement without payment (notwithstanding anything in this
        Agreement to the contrary) of any compensation to the Company; provided that
        to
        the extent that any provision of this Agreement and/or any applicable
        Reconstitution Agreement expressly provides for the survival of certain rights
        or obligations following termination of the Company as servicer, such provision
        shall be given effect.

      

      (iii) The
        Company shall promptly reimburse the Purchaser (or any designee of the
        Purchaser, such as a master servicer) and any Depositor, as applicable, for
        all
        reasonable expenses incurred by the Purchaser (or such designee) or such
        Depositor, as such are incurred, in connection with the termination of the
        Company as servicer and the transfer of servicing of the Mortgage Loans to
        a
        successor servicer. The provisions of this paragraph shall not limit whatever
        rights the Purchaser or any Depositor may have under other provisions of
        this
        Agreement and/or any applicable Reconstitution Agreement or otherwise, whether
        in equity or at law, such as an action for damages, specific performance
        or
        injunctive relief.

      

      Section
        6.08 Right
        to Examine Company Records.

      

      The
        Purchaser, or its designee, shall have the right to examine and audit any
        and
        all of the books, records, or other information of the Company, whether held
        by
        the Company or by another on its behalf, with respect to or concerning this
        Agreement or the Mortgage Loans, during business hours or at such other times
        as
        may be reasonable under applicable circumstances, upon reasonable advance
        notice. The Purchaser shall pay its own expenses associated with such
        examination.

      

      Section
        6.09 Compliance
        with REMIC Provisions.

      

      If
        a
        REMIC election has been made with respect to the arrangement under which
        the
        Mortgage Loans and REO Property are held, the Company shall not take any
        action,
        cause the REMIC to take any action or fail to take (or fail to cause to be
        taken) any action that, under the REMIC Provisions, if taken or not taken,
        as
        the case may be, could (i) endanger the status of the REMIC as a REMIC or
        (ii)
        result in the imposition of a tax upon the REMIC (including but not limited
        to
        the tax on “prohibited transactions” as defined Section 860(a)(2) of the Code
        and the tax on “contributions” to a REMIC set forth in Section 860(d) of the
        Code) unless the Company has received an Opinion of Counsel (at the expense
        of
        the party seeking to take such action) to the effect that the contemplated
        action will not endanger such REMIC status or result in the imposition of
        any
        such tax.

      

       

      ARTICLE
        VII

       

      COMPANY
        TO COOPERATE

      

      Section
        7.01 Provision
        of Information.

      

      During
        the term of this Agreement, the Company shall furnish to the Purchaser such
        periodic, special, or other reports or information, and copies or originals
        of
        any documents contained in the Servicing File for each Mortgage Loan provided
        for herein. All other special reports or information not provided for herein
        as
        shall be necessary, reasonable, or appropriate with respect to the Purchaser
        or
        any regulatory agency will be provided at the Purchaser’s expense. All such
        reports, documents or information shall be provided by and in accordance
        with
        all reasonable instructions and directions which the Purchaser may
        give.

      

      The
        Company shall execute and deliver all such instruments and take all such
        action
        as the Purchaser may reasonably request from time to time, in order to
        effectuate the purposes and to carry out the terms of this
        Agreement.

      

      Section
        7.02 Financial
        Statements; Servicing Facility.

      

      In
        connection with marketing the Mortgage Loans, the Purchaser may make available
        to a prospective Purchaser a Consolidated Statement of Operations of the
        Company
        for the most recently completed two (2) fiscal years for which such a statement
        is available, as well as a Consolidated Statement of Condition at the end
        of the
        last two fiscal years covered by such Consolidated Statement of Operations.
        The
        Company also shall make available any comparable interim statements to the
        extent any such statements have been prepared by or on behalf of the Company
        (and are available upon request to members or stockholders of the Company
        or to
        the public at large).

      

      The
        Company also shall make available to Purchaser or prospective Purchaser a
        knowledgeable financial or accounting officer for the purpose of answering
        questions respecting recent developments affecting the Company or the financial
        statements of the Company, and to permit any prospective purchaser to inspect
        the Company's servicing facilities for the purpose of satisfying such
        prospective purchaser that the Company has the ability to service the Mortgage
        Loans as provided in this Agreement.

      

       

      ARTICLE
        VIII

       

      THE
        COMPANY

      

      Section
        8.01 Indemnification;
        Third Party Claims.

      

      The
        Company shall indemnify the Purchaser and hold it harmless against any and
        all
        claims, losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal fees and related costs, judgments, and any other costs, fees and expenses
        that the Purchaser may sustain in any way related to the failure of the Company
        to perform its duties and service the Mortgage Loans in strict compliance
        with
        the terms of this Agreement. The Company immediately shall notify the Purchaser
        if a claim is made by a third party with respect to this Agreement or the
        Mortgage Loans, assume (with the prior written consent of the Purchaser)
        the
        defense of any such claim and pay all expenses in connection therewith,
        including counsel fees, and promptly pay, discharge and satisfy any judgment
        or
        decree which may be entered against it or the Purchaser in respect of such
        claim. The Company shall follow any written instructions received from the
        Purchaser in connection with such claim. The Purchaser promptly shall reimburse
        the Company for all amounts advanced by it pursuant to the preceding sentence
        except when the claim is in any way related to the Company's indemnification
        pursuant to Section 3.03, or the failure of the Company to service and
        administer the Mortgage Loans in strict compliance with the terms of this
        Agreement.

      

      Section
        8.02 Merger
        or Consolidation of the Company.

      

      The
        Company shall keep in full effect its existence, rights and franchises and
        shall
        obtain and preserve its qualification to do business in each jurisdiction
        in
        which such qualification is or shall be necessary to protect the validity
        and
        enforceability of this Agreement or any of the Mortgage Loans and to perform
        its
        duties under this Agreement.

      

      Any
        Person into which the Company may be merged or consolidated, or any corporation
        resulting from any merger, conversion or consolidation to which the Company
        shall be a party, or any Person succeeding to the business of the Company,
        shall
        be the successor of the Company hereunder, without the execution or filing
        of
        any paper or any further act on the part of any of the parties hereto, anything
        herein to the contrary notwithstanding, provided, however, that the successor
        or
        surviving Person shall be an institution which is a Fannie Mae/Freddie
        Mac-approved company in good standing and has a net worth of no less than
        $25
        million. Furthermore, in the event the Company transfers or otherwise disposes
        of all or substantially all of its assets to an affiliate of the Company,
        such
        affiliate shall satisfy the condition above, and shall also be fully liable
        to
        the Purchaser for all of the Company's obligations and liabilities
        hereunder.

      

      Section
        8.03 Limitation
        on Liability of Company and Others.

      

      Neither
        the Company nor any of the directors, officers, employees or agents of the
        Company shall be under any liability to the Purchaser for any action taken
        or
        for refraining from the taking of any action in good faith pursuant to this
        Agreement, or for errors in judgment, provided, however, that this provision
        shall not protect the Company or any such Person against any breach of
        warranties or representations made herein, or failure to perform its obligations
        in strict compliance with any standard of care set forth in this Agreement
        or
        any other liability which would otherwise be imposed under this Agreement.
        The
        Company and any director, officer, employee or agent of the Company may rely
        in
        good faith on any document of any kind prima facie properly executed and
        submitted by any Person respecting any matters arising hereunder. The Company
        shall not be under any obligation to appear in, prosecute or defend any legal
        action which is not incidental to its duties to service the Mortgage Loans
        in
        accordance with this Agreement and which in its opinion may involve it in
        any
        expense or liability, provided, however, that the Company may, with the consent
        of the Purchaser, undertake any such action which it may deem necessary or
        desirable in respect to this Agreement and the rights and duties of the parties
        hereto. In such event, the Company shall be entitled to reimbursement from
        the
        Purchaser of the reasonable legal expenses and costs of such
        action.

      

      Section
        8.04 Limitation
        on Resignation and Assignment by Company.

      

      The
        Purchaser has entered into this Agreement with the Company and subsequent
        Purchaser will purchase the Mortgage Loans in reliance upon the independent
        status of the Company, and the representations as to the adequacy of its
        servicing facilities, plant, personnel, records and procedures, its integrity,
        reputation and financial standing, and the continuance thereof. Therefore,
        the
        Company shall neither assign this Agreement or the servicing rights hereunder
        or
        delegate its rights or duties hereunder (other than pursuant to Section 4.01)
        or
        any portion hereof or sell or otherwise dispose of all of its property or
        assets
        without the prior written consent of the Purchaser, which consent shall not
        be
        unreasonably withheld.

      

      The
        Company shall not resign from the obligations and duties hereby imposed on
        it
        except by mutual consent of the Company and the Purchaser or upon the
        determination that its duties hereunder are no longer permissible under
        applicable law and such incapacity cannot be cured by the Company. Any such
        determination permitting the resignation of the Company shall be evidenced
        by an
        Opinion of Counsel to such effect delivered to the Purchaser which Opinion
        of
        Counsel shall be in form and substance acceptable to the Purchaser. No such
        resignation shall become effective until a successor shall have assumed the
        Company's responsibilities and obligations hereunder in the manner provided
        in
        Section 12.01.

      

      Without
        in any way limiting the generality of this Section 8.04, in the event that
        the
        Company either shall assign this Agreement or the servicing responsibilities
        hereunder or delegate its duties hereunder (other than pursuant to Section
        4.01)
        or any portion thereof or sell or otherwise dispose of all or substantially
        all
        of its property or assets, without the prior written consent of the Purchaser,
        then the Purchaser shall have the right to terminate this Agreement upon
        notice
        given as set forth in Section 10.01, without any payment of any penalty or
        damages and without any liability whatsoever to the Company or any third
        party.

      

       

      ARTICLE
        IX

       

      SECURITIZATION
        TRANSACTIONS; WHOLE LOAN TRANSFERS AND AGENCY TRANSFERS

      

      Section
        9.01 Securitization
        Transactions; Whole Loan Transfers and Agency Transfers

      

      The
        Purchaser and the Company agree that with respect to some or all of the Mortgage
        Loans, the Purchaser, at its sole option, may effect Whole Loan Transfers,
        Agency Transfer or Securitization Transactions, retaining the Company as
        the
        servicer thereof or subservicer if a master servicer is employed, or as
        applicable the "seller/servicer." On the Reconstitution Date, the Mortgage
        Loans
        transferred may cease to be covered by this Agreement; provided, however,
        that,
        in the event that any Mortgage Loan transferred pursuant to this Section
        9.01 is
        rejected by the transferee, the Company shall continue to service such rejected
        Mortgage Loan on behalf of the Purchaser in accordance with the terms and
        provisions of this Agreement.

      

      The
        Company shall cooperate with the Purchaser in connection with each Whole
        Loan
        Transfer, Agency Transfer or Securitization Transaction in accordance with
        this
        Section 9.01. In connection therewith:

      

      
        	 	
                (a)

              	
                the
                  Company shall make all representations and warranties with respect
                  to the
                  Mortgage Loans as of the related Closing Date and with respect
                  to the
                  Company itself as of the closing date of each Whole Loan Transfer,
                  Agency
                  Transfer or Securitization
                  Transaction;

              

      

      

      
        	 	
                (b)

              	
                the
                  Company shall negotiate in good faith and execute any seller/servicer
                  agreements required to effectuate the foregoing provided such agreements
                  create no greater obligation or cost on the part of the Company
                  than
                  otherwise set forth in this
                  Agreement;

              

      

      

      
        	 	
                (c)

              	
                the
                  Company shall provide as
                  applicable:

              

      

      

      
        	 	
                (i)

              	
                any
                  and all information and appropriate verification of information
                  which may
                  be reasonably available to the Company, whether through letters
                  of its
                  auditors and counsel or otherwise, as the Purchaser shall
                  request;

              

      

      

      
        	 	
                (ii)

              	
                such
                  additional representations, warranties, covenants, opinions of
                  counsel,
                  letters from auditors, and certificates of public officials or
                  officers of
                  the Company as are reasonably believed necessary by the trustee,
                  any
                  Rating Agency or the Purchaser, as the case may be, in connection
                  with
                  such Whole Loan Transfers, Agency Transfers or Securitization
                  Transactions. The Purchaser shall pay all third party costs associated
                  with the preparation of such information. The Company shall execute
                  any
                  seller/servicer agreements required within a reasonable period
                  of time
                  after receipt of such seller/servicer agreements which time shall
                  be
                  sufficient for the Seller and Seller's counsel to review such
                  seller/servicer agreements. Under this Agreement, the Company shall
                  retain
                  a Servicing Fee for each Mortgage Loan, at no less than the applicable
                  Servicing Fee Rate; and

              

      

      

      
        	 	
                (iii)

              	
                at
                  any time as required by any Rating Agency, such additional documents
                  from
                  the related Retained Mortgage File to the Custodian as may be required
                  by
                  such Rating Agency;

              

      

      

      

      
        	 	
                (d)

              	
                the
                  Company shall with respect to any Mortgage Loans that are subject
                  to a
                  Securitization Transaction occurring
                  on or before December 31, 2005,in
                  which the filing of a Sarbanes-Oxley Certification directly with
                  the
                  Commission is required, by February 28, 2006, or in connection
                  with any
                  additional Sarbanes-Oxley Certification required to be filed upon
                  thirty
                  (30) days written request, an officer of the Company shall execute
                  and
                  deliver an Officer’s Certification substantially in the form attached
                  hereto as Exhibit F, to the entity filing the Sarbanes-Oxley Certification
                  directly with the Commission (such as the Purchaser, any master
                  servicer,
                  any trustee
                  or any depositor) for the benefit of such entity and such entity’s
                  affiliates and the officers, directors and agents of such entity
                  and such
                  entity’s affiliates, and shall indemnify such entity or persons arising
                  out of any breach of Company’s obligations
                  or representations
                  relating thereto as provided in such Officer’s Certification.

              

      

      

      
        	 	
                (e)

              	
                the
                  Company shall, in connection with any Securitization Transaction
                  occurring
                  on or after January 1, 2006, the Company shall (1) within five
                  (5)
                  Business Days following request by the Purchaser or any Depositor,
                  provide
                  to the Purchaser and such Depositor (or, as applicable, cause each
                  Third-Party Originator and each Subservicer to provide), in writing
                  and in
                  form and substance reasonably satisfactory to the Purchaser and
                  such
                  Depositor, the information and materials specified in paragraphs
                  (i),
                  (ii), (iii) and (vii) of this subsection (e), and (2) as promptly
                  as
                  practicable following notice to or discovery by the Company, provide
                  to
                  the Purchaser and any Depositor (in writing and in form and substance
                  reasonably satisfactory to the Purchaser and such Depositor) the
                  information specified in paragraph (iv) of this subsection
                  (e).

              

      

      

      
        	 	
                (i)

              	
                if
                  so requested by the Purchaser or any Depositor, the Company shall
                  provide
                  such information regarding (1) the Company, as originator of the
                  Mortgage
                  Loans (including as an acquirer of Mortgage Loans from a Qualified
                  Correspondent), or (2) each Third-Party Originator, and (3) as
                  applicable,
                  each Subservicer, as is requested for the purpose of compliance
                  with Items
                  1103(a)(1), 1105, 1110, 1117 and 1119 of Regulation AB. Such information
                  shall include, at a minimum:

              

      

      

      
        	 	
                (A)

              	
                the
                  originator’s form of organization;

              

      

      

      
        	 	
                (B)

              	
                a
                  description of the originator’s origination program and how long the
                  originator has been engaged in originating residential mortgage
                  loans,
                  which description shall include a discussion of the originator’s
                  experience in originating mortgage loans of a similar type as the
                  Mortgage
                  Loans; information regarding the size and composition of the originator’s
                  origination portfolio; and information that may be material, in
                  the good
                  faith judgment of the Purchaser, to an analysis of the performance
                  of the
                  Mortgage Loans, including the originators’ credit-granting or underwriting
                  criteria for mortgage loans of similar type(s) as the Mortgage
                  Loans and
                  such other information as the Purchaser or any Depositor may reasonably
                  request for the purpose of compliance with Item 1110(b)(2) of Regulation
                  AB;

              

      

       

      
        	 	
                (C)

              	
                a
                  description of any material legal or governmental proceedings pending
                  (or
                  known to be contemplated) against the Company, each Third-Party
                  Originator
                  and each Subservicer; and

              

      

      

      
        	 	
                (D)

              	
                a
                  description of any affiliation or relationship between the Company,
                  each
                  Third-Party Originator, each Subservicer and any of the following
                  parties
                  to a Securitization Transaction, as such parties are identified
                  to the
                  Company by the Purchaser or any Depositor in writing in advance
                  of a
                  Securitization Transaction:

              

      

      

      
        	 	
                (1)

              	
                the
                  sponsor;

              

      

      (2) the
        depositor;

      (3) the
        issuing entity;

      (4) any
        servicer;

      (5) any
        trustee;

      (6) any
        originator;

      (7) any
        significant obligor;

      (8) any
        enhancement or support provider; and

      (9) any
        other
        material transaction party.

      

      
        	 	
                (ii)

              	
                If
                  so requested by the Purchaser or any Depositor, the Company shall
                  provide
                  (or, as applicable, cause each Third-Party Originator to provide)
                  Static
                  Pool Information with respect to the mortgage loans (of a similar
                  type as
                  the Mortgage Loans, as reasonably identified by the Purchaser as
                  provided
                  below) originated by (1) the Company, if the Company is an originator
                  of
                  Mortgage Loans (including as an acquirer of Mortgage Loans from
                  a
                  Qualified Correspondent), and/or (2) each Third-Party Originator.
                  Such
                  Static Pool Information shall be prepared by the Company (or Third-Party
                  Originator) on the basis of its reasonable, good faith interpretation
                  of
                  the requirements of Item 1105(a)(1)-(3) of Regulation AB. To the
                  extent
                  that there is reasonably available to the Company (or Third-Party
                  Originator) Static Pool Information with respect to more than one
                  mortgage
                  loan type, the Purchaser or any Depositor shall be entitled to
                  specify
                  whether some or all of such information shall be provided pursuant
                  to this
                  paragraph. The content of such Static Pool Information may be in
                  the form
                  customarily provided by the Company, and need not be customized
                  for the
                  Purchaser or any Depositor. Such Static Pool Information for each
                  vintage
                  origination year or prior securitized pool, as applicable, shall
                  be
                  presented in increments no less frequently than quarterly over
                  the life of
                  the mortgage loans included in the vintage origination year or
                  prior
                  securitized pool. The most recent periodic increment must be as
                  of a date
                  no later than 135 days prior to the date of the prospectus or other
                  offering document in which the Static Pool Information is to be
                  included
                  or incorporated by reference. The Static Pool Information shall
                  be
                  provided in an electronic format that provides a permanent record
                  of the
                  information provided, such as a portable document format (pdf)
                  file, or
                  other such electronic format reasonably required by the Purchaser
                  or the
                  Depositor, as applicable.

              

      

      

      If
        so
        requested by the Purchaser or any Depositor, the Company shall provide (or,
        as
        applicable, cause each Third-Party Originator to provide), at the expense
        of the
        requesting party (to the extent of any additional incremental expense associated
        with delivery pursuant to this Agreement), such statements and agreed-upon
        procedures letters of certified public accountants reasonably acceptable
        to the
        Purchaser or Depositor, as applicable, pertaining to Static Pool Information
        relating to prior securitized pools for securitizations closed on or after
        January 1, 2006 or, in the case of Static Pool Information with respect to
        the
        Company’s or Third-Party Originator’s originations or purchases, to calendar
        months commencing January 1, 2006, as the Purchaser or such Depositor shall
        reasonably request. Such statements and letters shall be addressed to and
        be for
        the benefit of such parties as the Purchaser or such Depositor shall designate,
        which may include, by way of example, any sponsor, any Depositor and any
        broker
        dealer acting as underwriter, placement agent or initial purchaser with respect
        to a Securitization Transaction. Any such statement or letter may take the
        form
        of a standard, generally applicable document accompanied by a reliance letter
        authorizing reliance by the addressees designated by the Purchaser or such
        Depositor.

      

      
        	 	
                (iii)

              	
                If
                  so requested by the Purchaser or any Depositor, the Company shall
                  provide
                  such information regarding the Company, as servicer of the Mortgage
                  Loans,
                  and each Subservicer (each of the Company and each Subservicer,
                  for
                  purposes of this paragraph, a “Servicer”), as is requested for the purpose
                  of compliance with Items 1108 of Regulation AB. Such information
                  shall
                  include, at a minimum:

              

      

      

      
        	 	
                (A)

              	
                the
                  Servicer’s form of organization;

              

      

      

      
        	 	
                (B)

              	
                a
                  description of how long the Servicer has been servicing residential
                  mortgage loans; a general discussion of the Servicer’s experience in
                  servicing assets of any type as well as a more detailed discussion
                  of the
                  Servicer’s experience in, and procedures for, the servicing function it
                  will perform under this Agreement and any Reconstitution Agreements;
                  information regarding the size, composition and growth of the Servicer’s
                  portfolio of residential mortgage loans of a type similar to the
                  Mortgage
                  Loans and information on factors related to the Servicer that may
                  be
                  material, in the good faith judgment of the Purchaser or any Depositor,
                  to
                  any analysis of the servicing of the Mortgage Loans or the related
                  asset-backed securities, as applicable, including, without limitation:
                  

              

      

      

      
        	 	
                (1)

              	
                whether
                  any prior securitizations of mortgage loans of a type similar to
                  the
                  Mortgage Loans involving the Servicer have defaulted or experienced
                  an
                  early amortization or other performance triggering event because
                  of
                  servicing during the three-year period immediately preceding the
                  related
                  Securitization Transaction;

              

      

      

      
        	 	
                (2)

              	
                the
                  extent of outsourcing the Servicer
                  utilizes;

              

      

      

      
        	 	
                (3)

              	
                whether
                  there has been previous disclosure of material noncompliance with
                  the
                  applicable servicing criteria with respect to other securitizations
                  of
                  residential mortgage loans involving the Servicer as a servicer
                  during the
                  three-year period immediately preceding the related Securitization
                  Transaction;

              

      

      

      
        	 	
                (4)

              	
                whether
                  the Servicer has been terminated as servicer in a residential mortgage
                  loan securitization, either due to a servicing default or to application
                  of a servicing performance test or trigger; and

              

      

      

      
        	 	
                (5)

              	
                such
                  other information as the Purchaser or any Depositor may reasonably
                  request
                  for the purpose of compliance with Item 1108(b)(2) of Regulation
                  AB;

              

      

      

      
        	 	
                (C)

              	
                a
                  description of any material changes during the three-year period
                  immediately preceding the related Securitization Transaction to
                  the
                  Servicer’s policies or procedures with respect to the servicing function
                  it will perform under this Agreement and any Reconstitution Agreements
                  for
                  mortgage loans of a type similar to the Mortgage
                  Loans;

              

      

      

      
        	 	
                (D)

              	
                information
                  regarding the Servicer’s financial condition, to the extent that there is
                  a material risk that an adverse financial event or circumstance
                  involving
                  the Servicer could have a material adverse effect on the performance
                  by
                  the Company of its servicing obligations under this Agreement or
                  any
                  Reconstitution Agreement;

              

      

      

      
        	 	
                (E)

              	
                information
                  regarding advances made by the Servicer on the Mortgage Loans and
                  the
                  Servicer’s overall servicing portfolio of residential mortgage loans for
                  the three-year period immediately preceding the related Securitization
                  Transaction, which may be limited to a statement by an authorized
                  officer
                  of the Servicer to the effect that the Servicer has made all advances
                  required to be made on residential mortgage loans serviced by it
                  during
                  such period, or, if such statement would not be accurate, information
                  regarding the percentage and type of advances not made as required,
                  and
                  the reasons for such failure to
                  advance;

              

      

      

      
        	 	
                (F)

              	
                a
                  description of the Servicer’s processes and procedures designed to address
                  any special or unique factors involved in servicing loans of a
                  similar
                  type as the Mortgage Loans;

              

      

      

      
        	 	
                (G)

              	
                a
                  description of the Servicer’s processes for handling delinquencies,
                  losses, bankruptcies and recoveries, such as through liquidation
                  of
                  mortgaged properties, sale of defaulted mortgage loans or workouts;
                  and
                  

              

      

      

      
        	 	
                (H)

              	
                information
                  as to how the Servicer defines or determines delinquencies and
                  charge-offs, including the effect of any grace period, re-aging,
                  restructuring, partial payments considered current or other practices
                  with
                  respect to delinquency and loss
                  experience.

              

      

      

      
        	 	
                (iv)

              	
                If
                  so requested by the Purchaser or any Depositor for the purpose
                  of
                  satisfying its reporting obligation under the Exchange Act with
                  respect to
                  any class of asset-backed securities, the Company shall (or shall
                  cause
                  each Subservicer and Third-Party Originator to) (1) notify the
                  Purchaser
                  and any Depositor in writing of (A) any material litigation or
                  governmental proceedings pending against the Company, any Subservicer
                  or
                  any Third-Party Originator and (B) any affiliations or relationships
                  that
                  develop following the closing date of a Securitization Transaction
                  between
                  the Company, any Subservicer or any Third-Party Originator and
                  any of the
                  parties specified in Section 9.01(e)(i)(D) (and any other parties
                  identified in writing by the requesting party) with respect to
                  such
                  Securitization Transaction, and (2) provide to the Purchaser and
                  any
                  Depositor a description of such proceedings, affiliations or
                  relationships.

              

      

      

      
        	 	
                (v)

              	
                As
                  a condition to the succession to the Company or any Subservicer
                  as
                  servicer or Subservicer under this Agreement or any Reconstitution
                  Agreement by any Person (i) into which the Company or such Subservicer
                  may
                  be merged or consolidated, or (ii) which may be appointed as a
                  successor
                  to the Company or any Subservicer, the Company shall provide to
                  the
                  Purchaser and any Depositor, at least 15 calendar days prior to
                  the
                  effective date of such succession or appointment, (x) written notice
                  to
                  the Purchaser and any Depositor of such succession or appointment
                  and (y)
                  in writing and in form and substance reasonably satisfactory to
                  the
                  Purchaser and such Depositor, all information reasonably requested
                  by the
                  Purchaser or any Depositor in order to comply with is reporting
                  obligation
                  under Item 6.02 of Form 8-K with respect to any class of asset-backed
                  securities.

              

      

      

      
        	 	
                (vi)

              	
                (A)

              	
                The
                  Company shall represent to the Purchaser, as of the date on which
                  information is first provided to the Purchaser under this Section
                  9.01(e)
                  that, except as disclosed in writing to the Purchaser prior to
                  such date:
                  (1) the Company is not aware and has not received notice that any
                  default,
                  early amortization or other performance triggering event has occurred
                  as
                  to any other securitization due to any act or failure to act of
                  the
                  Company; (2) the Company has not been terminated as servicer in
                  a
                  residential mortgage loan securitization, either due to a servicing
                  default or to application of a servicing performance test or trigger;
                  (3)
                  no material noncompliance with the applicable servicing criteria
                  with
                  respect to other securitizations of residential mortgage loans
                  involving
                  the Company as servicer has been disclosed or reported by the Company;
                  (4)
                  no material changes to the Company’s policies or procedures with respect
                  to the servicing function it will perform under this Agreement
                  and any
                  Reconstitution Agreement for mortgage loans of a type similar to
                  the
                  Mortgage Loans have occurred during the three-year period immediately
                  preceding the related Securitization Transaction; (5) there are
                  no aspects
                  of the Company’s financial condition that could have a material adverse
                  effect on the performance by the Company of its servicing obligations
                  under this Agreement or any Reconstitution Agreement; (6) there
                  are no
                  material legal or governmental proceedings pending (or known to
                  be
                  contemplated) against the Company, any Subservicer or any Third-Party
                  Originator; and (7) there are no affiliations, relationships or
                  transactions relating to the Company, any Subservicer or any Third-Party
                  Originator with respect to any Securitization Transaction and any
                  party
                  thereto identified by the related Depositor of a type described
                  in Item
                  1119 of Regulation AB.

              

      

      

      
        	 	
                (B)

              	
                If
                  so requested by the Purchaser on any date following the date on
                  which
                  information is first provided to the Purchaser under this Section
                  9.01(e),
                  the Company shall, within five (5) Business Days following such
                  request,
                  confirm in writing the accuracy of the representations and warranties
                  set
                  forth in sub clause (A) above or, if any such representation and
                  warranty
                  is not accurate as of the date of such request, provide reasonably
                  adequate disclosure of the pertinent facts, in writing, to the
                  requesting
                  party.

              

      

      

      
        	 	
                (vii)

              	
                In
                  addition to such information as the Company, as servicer, is obligated
                  to
                  provide pursuant to other provisions of this Agreement, if so requested
                  by
                  the Purchaser or any Depositor, the Company shall provide such
                  information
                  reasonably available to the Company regarding the performance of
                  the
                  Mortgage Loans as is reasonably required to facilitate preparation
                  of
                  distribution reports in accordance with Item 1121 of Regulation
                  AB.

              

      

      

      
        	 	
                (f)

              	
                the
                  Company shall indemnify the Purchaser, each affiliate of the Purchaser,
                  and each of the following parties participating in a Securitization
                  Transaction; each sponsor and issuing entity; each Person responsible
                  for
                  the preparation, execution or filing of any report required to
                  be filed
                  with the Commission with respect to such Securitization Transaction,
                  or
                  for execution of a certification pursuant to Rule 13a-14(d) or
                  Rule
                  15d-14(d) under the Exchange Act with respect to such Securitization
                  Transaction; each broker dealer acting as underwriter, placement
                  agent or
                  initial purchaser, each Person who controls any of such parties
                  or the
                  Depositor (within the meaning of Section 15 of the Securities Act
                  and
                  Section 20 of the Exchange Act); and the respective present and
                  former
                  directors, officers, employees and agents of each of the foregoing
                  and of
                  the Depositor, and shall hold each of them harmless from and against
                  any
                  losses, damages, penalties, fines, forfeitures, legal fees and
                  expenses
                  and related costs, judgments, and any other costs, fees and expenses
                  that
                  any of them may sustain arising out of or based
                  upon:

              

      

      

      (i) (A) any
        untrue statement of a material fact contained or alleged to be contained
        in any
        information, report, certification, accountants’ letter or other material
        provided under Sections 9.01(c) and (e) by or on behalf of the Company, or
        provided under Sections 9.01(c) and (e) by or on behalf of any Subservicer,
        Subcontractor or Third-Party Originator (collectively, the “Company
        Information”), or (B) the omission or alleged omission to state in the Company
        Information a material fact required to be stated in the Company Information
        or
        necessary in order to make the statements therein, in the light of the
        circumstances under which they were made, not misleading; provided,
        by way of clarification, that
        clause (B) of this paragraph shall be construed solely by reference to the
        Company Information and not to any other information communicated in connection
        with a sale or purchase of securities, without regard to whether the Company
        Information or any portion thereof is presented together with or separately
        from
        such other information;

      

      
        	 	
                (ii)

              	
                any
                  failure by the Company, any Subservicer, any Subcontractor or any
                  Third-Party Originator to deliver any information, report, certification,
                  accountants’ letter or other material when and as required under Sections
                  9.01(c) and (e), including any failure by the Company to identify
                  any
                  Subcontractor “participating in the servicing function” within the meaning
                  of Item 1122 of Regulation AB; or

              

      

      

      
        	 	
                (iii)

              	
                any
                  breach by the Company of a representation or warranty set forth
                  in Section
                  9.01(e)(iv)(A) or in a writing furnished pursuant to Section
                  9.01(e)(iv)(B) and made as of a date prior to the closing date
                  of the
                  related Securitization Transaction, to the extent that such breach
                  is not
                  cured by such closing date, or any breach by the Company of a
                  representation or warranty in a writing furnished pursuant to Section
                  9.01(e)(iv)(B) to the extent made as of a date subsequent to such
                  closing
                  date.

              

      

      

      In
        the
        case of any failure of performance described in sub-clause (ii) of this Section
        9.01(f), the Company shall promptly reimburse the Purchaser, any Depositor,
        as
        applicable, and each Person responsible for the preparation, execution or
        filing
        of any report required to be filed with the Commission with respect to such
        Securitization Transaction, or for execution of a certification pursuant
        to Rule
        13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such
        Securitization Transaction, for all costs reasonably incurred by each such
        party
        in order to obtain the information, report, certification, accountants’ letter
        or other material not delivered as required by the Company, any Subservicer,
        any
        Subcontractor or any Third-Party Originator. 

      

      
        	 	
                (g)

              	
                the
                  Purchaser and each Person who controls the Purchaser shall indemnify
                  the
                  Company, each affiliate of the Company, each Person who controls
                  any of
                  such parties or the Company (within the meaning of Section 15 of
                  the
                  Securities Act and Section 20 of the Exchange Act) and the respective
                  present and former directors, officers, employees and agents of
                  each of
                  the foregoing and of the Company, and shall hold each of them harmless
                  from and against any losses, damages, penalties, fines, forfeitures,
                  legal
                  fees and expenses and related costs, judgments, and any other costs,
                  fees
                  and expenses that any of them may sustain arising out of or based
                  upon:

              

      

      

      (i) (A) any
        untrue statement of a material fact contained or alleged to be contained
        in any
        offering materials related to a Securitization Transaction, including without
        limitation the registration statement, prospectus, prospectus supplement,
        any
        private placement memorandum, any offering circular, any computational
        materials, and any amendments or supplements to the foregoing (collectively,
        the
“Securitization Materials”) or (B) the omission or alleged omission to state in
        the Securitization Materials a material fact required to be stated in the
        Securitization Materials or necessary in order to make the statements therein,
        in the light of the circumstances under which they were made, not misleading,
        but only to the extent that such untrue statement or alleged untrue statement
        or
        omission or alleged omission is other than a statement or omission arising
        out
        of, resulting from, or based upon the Company Information.

      

      The
        Purchaser and the Company acknowledge and agree that the purpose of Section
        9.01(e) is to facilitate compliance by the Purchaser and any Depositor with
        the
        provisions of Regulation AB and related rules and regulations of the Commission.
        Neither the Purchaser nor any Depositor shall exercise its right to request
        delivery of information or other performance under these provisions other
        than
        in good faith, or for purposes other than compliance with the Securities
        Act,
        the Exchange Act and the rules and regulations of the Commission thereunder.
        The
        Company acknowledges that interpretations of the requirements of Regulation
        AB
        may change over time, whether due to interpretive guidance provided by the
        Commission or its staff, consensus among participants in the asset-backed
        securities markets, advice of counsel, or otherwise, and agrees to comply
        with
        requests made by the Purchaser or any Depositor in good faith for delivery
        of
        information under these provisions on the basis of evolving interpretations
        of
        Regulation AB. In connection with any Securitization Transaction, the Company
        shall cooperate fully with the Purchaser to deliver to the Purchaser (including
        any of its assignees or designees) and any Depositor, any and all statements,
        reports, certifications, records and any other information necessary in the
        good
        faith determination of the Purchaser or any Depositor to permit the Purchaser
        or
        such Depositor to comply with the provisions of Regulation AB, together with
        such disclosures relating to the Company, any Subservicer, any Third-Party
        Originator and the Mortgage Loans, or the servicing of the Mortgage Loans,
        reasonably believed by the Purchaser or any Depositor to be necessary in
        order
        to effect such compliance.

      

      In
        the
        event the Purchaser has elected to have the Company hold record title to
        the
        Mortgages, prior to the Reconstitution Date the Company shall prepare an
        Assignment of Mortgage in blank or to the trustee from the Company acceptable
        to
        the trustee for each Mortgage Loan that is part of the Whole Loan Transfers,
        Agency Transfer or Securitization Transactions. The Company shall pay all
        preparation and recording costs associated with the initial Assignment of
        Mortgage. The Company shall execute each Assignment of Mortgage, track such
        Assignments of Mortgage to ensure they have been recorded and deliver them
        as
        required by the trustee upon the Company's receipt thereof. Additionally,
        the
        Company shall prepare and execute, at the direction of the Purchaser, any
        note
        endorsements in connection with any and all seller/servicer agreements. If
        required at any time by a Rating Agency, Purchaser or successor purchaser
        in
        connection with any Whole Loan Transfer, Agency Sale or Securitization
        Transaction, the Company shall deliver such additional documents from its
        Retained Mortgage File within thirty (30) Business Days to the Custodian,
        successor purchaser or other designee of the Purchaser as said Rating Agency,
        Purchaser or successor purchaser may require.

      

      All
        Mortgage Loans (i) not sold or transferred pursuant to Whole Loan Transfers,
        Agency Transfer or Securitization Transactions or (ii) that are subject to
        a
        Securitization for which the related trust is terminated for any reason,
        shall
        remain subject to this Agreement and shall continue to be serviced in accordance
        with the terms of this Agreement and with respect thereto this Agreement
        shall
        remain in full force and effect.

      

       

      ARTICLE
        X

       

      DEFAULT

      

      Section
        10.01 Events
        of Default.

      

      Each
        of
        the following shall constitute an Event of Default on the part of the
        Company:

      

      
        	 	
                (i)

              	
                any
                  failure by the Company to remit to the Purchaser any payment required
                  to
                  be made under the terms of this Agreement which continues unremedied
                  for a
                  period of two Business Days after the date upon which written notice
                  of
                  such failure, requiring the same to be remedied, shall have been
                  given to
                  the Company by the Purchaser; or

              

      

      

      
        	 	
                (ii)

              	
                failure
                  by the Company duly to observe or perform in any material respect
                  any
                  other of the covenants or agreements on the part of the Company
                  set forth
                  in this Agreement or in the Custodial Agreement which continues
                  unremedied
                  for a period of 90 days after the date on which written notice
                  of such
                  failure, requiring the same to be remedied, shall have been given
                  to the
                  Company by the Purchaser or by the Custodian;
                  or

              

      

      

      
        	 	
                (iii)

              	
                failure
                  by the Company to maintain its license to do business in any jurisdiction
                  where the Mortgaged Property is located if such license is required;
                  or

              

      

      

      
        	 	
                (iv)

              	
                a
                  decree or order of a court or agency or supervisory authority having
                  jurisdiction for the appointment of a conservator or receiver or
                  liquidator in any insolvency, readjustment of debt, including bankruptcy,
                  marshaling of assets and liabilities or similar proceedings, or
                  for the
                  winding-up or liquidation of its affairs, shall have been entered
                  against
                  the Company and such degree or order shall have remained in force
                  undischarged or unstayed for a period of 60 days;
                  or

              

      

      

      
        	 	
                (v)

              	
                the
                  Company shall consent to the appointment of a conservator or receiver
                  or
                  liquidator in any insolvency, readjustment of debt, marshaling
                  of assets
                  and liabilities or similar proceedings of or relating to the Company
                  or of
                  or relating to all or substantially all of its property;
                  or

              

      

      

      
        	 	
                (vi)

              	
                the
                  Company shall admit in writing its inability to pay its debts generally
                  as
                  they become due, file a petition to take advantage of any applicable
                  insolvency, bankruptcy or reorganization statute, make an assignment
                  for
                  the benefit of its creditors, voluntarily suspend payment of its
                  obligations or cease its normal business operations; or
                  

              

      

      

      
        	 	
                (vii)

              	
                the
                  Company ceases to meet the qualifications of a Fannie Mae/Freddie
                  Mac
                  servicer; or

              

      

      

      
        	 	
                (viii)

              	
                the
                  Company attempts to assign its right to servicing compensation
                  hereunder
                  or to assign this Agreement or the servicing responsibilities hereunder
                  or
                  to delegate its duties hereunder or any portion thereof in violation
                  of
                  Section 8.04.

              

      

      

      In
        each
        and every such case, so long as an Event of Default shall not have been
        remedied, in addition to whatever rights the Purchaser may have at law or
        equity
        to damages, including injunctive relief and specific performance, the Purchaser,
        by notice in writing to the Company, may terminate all the rights and
        obligations of the Company under this Agreement and in and to the Mortgage
        Loans
        and the proceeds thereof.

      

      Upon
        receipt by the Company of such written notice, all authority and power of
        the
        Company under this Agreement, whether with respect to the Mortgage Loans
        or
        otherwise, shall pass to and be vested in the successor appointed pursuant
        to
        Section 12.01. Upon written request from any Purchaser, the Company shall
        prepare, execute and deliver to the successor entity designated by the Purchaser
        any and all documents and other instruments, place in such successor's
        possession all Servicing Files, and do or cause to be done all other acts
        or
        things necessary or appropriate to effect the purposes of such notice of
        termination, including but not limited to the transfer and endorsement or
        assignment of the Mortgage Loans and related documents, at the Company's
        sole
        expense. The Company shall cooperate with the Purchaser and such successor
        in
        effecting the termination of the Company's responsibilities and rights
        hereunder, including without limitation, the transfer to such successor for
        administration by it of all cash amounts which shall at the time be credited
        by
        the Company to the Custodial Account, Subsidy Account or Escrow Account or
        thereafter received with respect to the Mortgage Loans.

      

      Section
        10.02 Waiver
        of Defaults.

      

      By
        a
        written notice, the Purchaser may waive any default by the Company in the
        performance of its obligations hereunder and its consequences. Upon any waiver
        of a past default, such default shall cease to exist, and any Event of Default
        arising therefrom shall be deemed to have been remedied for every purpose
        of
        this Agreement. No such waiver shall extend to any subsequent or other default
        or impair any right consequent thereon except to the extent expressly so
        waived.

      

       

      ARTICLE
        XI

       

      TERMINATION

      

      Section
        11.01 Termination.

      

      This
        Agreement shall terminate upon either: (i) the later of the final payment
        or
        other liquidation (or any advance with respect thereto) of the last Mortgage
        Loan or the disposition of any REO Property with respect to the last Mortgage
        Loan and the remittance of all funds due hereunder; or (ii) mutual consent
        of
        the Company and the Purchaser in writing.

      

      Section
        11.02 Termination
        Without Cause.

      

      The
        Purchaser may terminate, at its sole option, any rights the Company may have
        hereunder, without cause as provided in this Section 11.02. Any such notice
        of
        termination shall be in writing and delivered to the Company by registered
        mail
        as provided in Section 12.05.

      

      The
        Company shall be entitled to receive, as such liquidated damages, upon the
        transfer of the servicing rights, an amount equal to: (i) 2.75% of the aggregate
        outstanding principal amount of the Mortgage Loans as of the termination
        date
        paid by the Purchaser to the Company with respect to all of the Mortgage
        Loans
        for which a servicing fee rate of .25% is paid per annum, (ii) 3.25% of the
        aggregate outstanding principal amount of the Mortgage Loans as of the
        termination date paid by the Purchaser to the Company with respect to all
        of the
        Mortgage Loans for which a servicing fee rate of .375% is paid per annum,
        and
        (iii) 3.75% of the aggregate outstanding principal amount of the Mortgage
        Loans
        as of the termination date paid by the Purchaser to the Company with respect
        to
        all of the Mortgage Loans for which a servicing fee rate of .44% or greater
        is
        paid per annum.

      

       

      ARTICLE
        XII

       

      MISCELLANEOUS
        PROVISIONS

      

      Section
        12.01 Successor
        to Company.

      

      Prior
        to
        termination of the Company's responsibilities and duties under this Agreement
        pursuant to Sections 8.04, 10.01, 11.01 (ii) or 11.02 the Purchaser shall,
        (i)
        succeed to and assume all of the Company's responsibilities, rights, duties
        and
        obligations under this Agreement, or (ii) appoint a successor having the
        characteristics set forth in Section 8.02 and which shall succeed to all
        rights
        and assume all of the responsibilities, duties and liabilities of the Company
        under this Agreement prior to the termination of Company's responsibilities,
        duties and liabilities under this Agreement. In connection with such appointment
        and assumption, the Purchaser may make such arrangements for the compensation
        of
        such successor out of payments on Mortgage Loans as it and such successor
        shall
        agree. In the event that the Company's duties, responsibilities and liabilities
        under this Agreement should be terminated pursuant to the aforementioned
        sections, the Company shall discharge such duties and responsibilities during
        the period from the date it acquires knowledge of such termination until
        the
        effective date thereof with the same degree of diligence and prudence which
        it
        is obligated to exercise under this Agreement, and shall take no action
        whatsoever that might impair or prejudice the rights or financial condition
        of
        its successor. The resignation or removal of the Company pursuant to the
        aforementioned sections shall not become effective until a successor shall
        be
        appointed pursuant to this Section 12.01 and shall in no event relieve the
        Company of the representations and warranties made pursuant to Sections 3.01
        and
        3.02 and the remedies available to the Purchaser under Section 3.03, it being
        understood and agreed that the provisions of such Sections 3.01, 3.02, 3.03
        and
        8.01 shall be applicable to the Company notwithstanding any such sale,
        assignment, resignation or termination of the Company, or the termination
        of
        this Agreement.

      

      Any
        successor appointed as provided herein shall execute, acknowledge and deliver
        to
        the Company and to the Purchaser an instrument accepting such appointment,
        wherein the successor shall make the representations and warranties set forth
        in
        Section 3.01, except for subsection (h) with respect to the sale of the Mortgage
        Loans and subsections (i) and (k) thereof, whereupon such successor shall
        become
        fully vested with all the rights, powers, duties, responsibilities, obligations
        and liabilities of the Company, with like effect as if originally named as
        a
        party to this Agreement. Any termination or resignation of the Company or
        termination of this Agreement pursuant to Section 8.04, 10.01, 11.01 or 11.02
        shall not affect any claims that any Purchaser may have against the Company
        arising out of the Company's actions or failure to act prior to any such
        termination or resignation.

      

      The
        Company shall deliver promptly to the successor servicer the funds in the
        Custodial Account, Subsidy Account and Escrow Account and all Servicing Files
        and related documents and statements held by it hereunder and the Company
        shall
        account for all funds and shall execute and deliver such instruments and
        do such
        other things as may reasonably be required to more fully and definitively
        vest
        in the successor all such rights, powers, duties, responsibilities, obligations
        and liabilities of the Company.

      

      Upon
        a
        successor's acceptance of appointment as such, the Company shall notify by
        mail
        the Purchaser of such appointment in accordance with the procedures set forth
        in
        Section 12.05.

      

      Section
        12.02 Amendment.

      

      This
        Agreement may be amended from time to time by written agreement signed by
        the
        Company and the Purchaser.

      

      Section
        12.03 Governing
        Law.

      

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

      

      Each
        of
        the Company and the Purchaser hereby knowingly, voluntarily and intentionally
        waives any and all rights it may have to a trial by jury in respect or any
        litigation based on, or arising out of, under, or in connection with, this
        Agreement, or any other documents and instruments executed in connection
        herewith, or any course of conduct, course of dealing, statements (whether
        oral
        or written), or actions of the Company or the Purchaser. This provision is
        a
        material inducement for the Purchaser to enter into this Agreement.

      

      Section
        12.04 Duration
        of Agreement.

      

      This
        Agreement shall continue in existence and effect until terminated as herein
        provided. This Agreement shall continue notwithstanding transfers of the
        Mortgage Loans by the Purchaser.

      

      Section
        12.05 Notices.

      

      All
        demands, notices and communications hereunder shall be in writing and shall
        be
        deemed to have been duly given if personally delivered at or mailed by
        registered mail, postage prepaid, addressed as follows:

      

      (i) if
        to the
        Company with respect to servicing and investor reporting issues:

      

      Wells
        Fargo Bank, N.A.

      1
        Home
        Campus

      Des
        Moines, Iowa 50328-0001

      Attention:
        John B. Brown, MAC X2401-042

      

      If
        to the
        Company with respect to all other issues:

      

      Wells
        Fargo Bank, N.A.

      7430
        New
        Technology Way

      Frederick,
        MD 21703

      Attention:
        Structured Finance Manager, MAC X3906-012

      

      In
        each
        instance with a copy to:

       

      Wells
        Fargo Bank, N.A.

      1
        Home
        Campus

      Des
        Moines, Iowa 50328-0001

      Attention:
        General Counsel, MAC X2401-06T

      

      or
        such
        other address as may hereafter be furnished to the Purchaser in writing
 by
        the
        Company;

      

      (ii) if
        to
        Purchaser:

       

      EMC
        Mortgage Corporation

      Mac
        Arthur Ridge II

      909
        Hidden Ridge Dr., Suite 200

      Irving,
        TX 75038

      Attention:
        Ralene Ruyle

      

      With
        a
        copy to:

      

      Bear
        Stearns Mortgage Capital Corp.

      383
        Madison Avenue

      New
        York,
        NY 10179

      Attention:
        Baron Silverstein

      

      Section
        12.06 Severability
        of Provisions.

      

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

      

      Section
        12.07 Relationship
        of Parties.

      

      Nothing
        herein contained shall be deemed or construed to create a partnership or
        joint
        venture between the parties hereto and the services of the Company shall
        be
        rendered as an independent contractor and not as agent for the
        Purchaser.

      

      Section
        12.08 Execution;
        Successors and Assigns.

      

      This
        Agreement may be executed in one or more counterparts and by the different
        parties hereto on separate counterparts, each of which, when so executed,
        shall
        be deemed to be an original; such counterparts, together, shall constitute
        one
        and the same agreement. Subject to Section 8.04, this Agreement shall inure
        to
        the benefit of and be binding upon the Company and the Purchaser and their
        respective successors and assigns.

      

      Section
        12.09 Recordation
        of Assignments of Mortgage.

      

      To
        the
        extent permitted by applicable law, each of the Assignments of Mortgage is
        subject to recordation in all appropriate public offices for real property
        records in all the counties or other comparable jurisdictions in which any
        or
        all of the Mortgaged Properties are situated, and in any other appropriate
        public recording office or elsewhere, such recordation to be effected at
        the
        Company's expense in the event recordation is either necessary under applicable
        law or requested by the Purchaser at its sole option.

      

      Section
        12.10 Assignment
        by Purchaser.

      

      The
        Purchaser shall have the right, without the consent of the Company but subject
        to the limit set forth in Section 2.02 hereof, to assign, in whole or in
        part,
        its interest under this Agreement with respect to some or all of the Mortgage
        Loans, and designate any person to exercise any rights of the Purchaser
        hereunder, by executing an Assignment, Assumption and Recognition Agreement
        substantially in the form attached as Exhibit G and the assignee or designee
        shall accede to the rights and obligations hereunder of the Purchaser with
        respect to such Mortgage Loans. All references to the Purchaser in this
        Agreement shall be deemed to include its assignee or designee.

      

      Section
        12.11 Solicitation
        of Mortgagor.

      

      Neither
        party shall, after the related Closing Date, take any action to solicit the
        refinancing of any Mortgage Loan. It is understood and agreed that neither
        (i)
        promotions undertaken by either party or any affiliate of either party which
        are
        directed to the general public at large, including, without limitation, mass
        mailings based upon commercially acquired mailing lists, newspaper, radio,
        television advertisements nor (ii) serving the refinancing needs of a Mortgagor
        who, without solicitation, contacts either party in connection with the
        refinance of such Mortgage or Mortgage Loan, shall constitute solicitation
        under
        this Section.

      

      

      

      [Intentionally
        Blank - Next Page Signature Page]

      

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

      IN
        WITNESS WHEREOF, the Company and the Purchaser have caused their names to
        be
        signed hereto by their respective officers thereunto duly authorized as of
        the
        day and year first above written.

      

      

        
          	
                  EMC
                    MORTGAGE CORPORATION

                  Purchaser   

                	 	
                  WELLS
                    FARGO BANK, N.A. 

                  Company

                
	 	 	 	 	 
	 	 	 	 	 
	
                  By:

                	 	 	
                  By:

                	 
	
                  Name:

                	 	 	
                  Name:

                	 
	
                  Title:

                	 	 	
                  Title:

                	 

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      

        
          	
                  STATE
                    OF 

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF___________

                	
                  )

                	 

        

        

      

       

      On
        the
        _____ day of _______________, 20___ before me, a Notary Public in and for
        said
        State, personally appeared      ,
        known
        to me to be     
        of Wells
        Fargo Bank, N.A., the national banking association that executed the within
        instrument and also known to me to be the person who executed it on behalf
        of
        said bank, and acknowledged to me that such bank executed the within
        instrument.

      

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

      

      

        
          	 	 
	 	
                  Notary
                    Public

                
	 	 

        

         

        
          	 	My
                  Commission  expires 	 

        

       

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

      

        
          	
                  STATE
                    OF 

                	
                  )

                	 
	 	
                  )

                	
                  ss.:

                
	
                  COUNTY
                    OF___________

                	
                  )

                	 

        

        

 

      

      On
        the
        _____ day of _______________, 20___ before me, a Notary Public in and for
        said
        State, personally appeared _____________________________________, known to
        me to
        be the ______________________________ of EMC Mortgage Corporation, the
        corporation that executed the within instrument and also known to me to be
        the
        person who executed it on behalf of said corporation, and acknowledged to
        me
        that such corporation executed the within instrument.

      

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

      

      

        
          	 	 
	 	
                  Notary
                    Public

                
	 	 

        

         

        
          	 	My
                  Commission  expires 	 

        

      

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        A

      

      

      FORM
        OF
        ASSIGNMENT AND CONVEYANCE AGREEMENT

       

      On
        this
        _____ day of __________, 20___, Wells Fargo Bank, N.A. (the "Seller")
        as the
        Seller under that certain Amended and Restated Master Mortgage Loan Purchase
        Agreement, ("Purchase Agreement") and as the Company under that certain Amended
        and Restated Master Seller's Warranties and Servicing Agreement (the "Servicing
        Agreement") each dated as of _______________, 20___, (collectively, the
        "Agreements")
        does
        hereby sell, transfer, assign, set over and convey to EMC Mortgage Corporation
        as the Purchaser (the "Purchaser")
        under
        the Purchase Agreement, and Purchaser hereby accepts from Seller, without
        recourse, but subject to the terms of the Agreements, all right, title and
        interest of, in and to the Mortgage Loans listed on the Mortgage Loan Schedule
        attached hereto as Exhibit
        A,
        together with the Custodial Mortgage Files and Retained Mortgage Files and
        all
        rights and obligations arising under the documents contained therein. Pursuant
        to Section 2.03 of the Servicing Agreement, the Seller has delivered to the
        Custodian the documents for each Mortgage Loan to be purchased. The Servicing
        Files retained by the Seller pursuant to Section 2.01 of the Servicing Agreement
        shall be appropriately marked to clearly reflect the sale of the related
        Mortgage Loans to the Purchaser. 

       

      Capitalized
        terms used herein and not otherwise defined shall have the meanings set forth
        in
        the Agreements. 

       

      
        

          
            	
                    EMC
                      MORTGAGE CORPORATION

                    Purchaser   

                  	 	
                    WELLS
                      FARGO BANK, N.A. 

                    Company

                  
	 	 	 	 	 
	 	 	 	 	 
	
                    By:

                  	 	 	
                    By:

                  	 
	
                    Name:

                  	 	 	
                    Name:

                  	 
	
                    Title:

                  	 	 	
                    Title:

                  	 

          

        

         

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

         

      EXHIBIT
        B

      

      

      CUSTODIAL
        AGREEMENT

       

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

      EXHIBIT
        C

       

      CONTENTS
        OF EACH RETAINED MORTGAGE FILE, 

      SERVICING
        FILE AND CUSTODIAL MORTGAGE FILE

      

      With
        respect to each Mortgage Loan, the Retained Mortgage File and Custodial Mortgage
        File shall include each of the following items, which shall be available
        for
        inspection by the Purchaser and any prospective Purchaser, and which shall
        be
        retained by the Company in the Retained Mortgage File or Servicing File or
        delivered to the Custodian pursuant to Sections 2.01 and 2.03 of the Seller's
        Warranties and the Servicing Agreement to which this Exhibit is attached
        (the
        "Agreement"):

      

      
        	 	
                1.

              	
                The
                  original Mortgage Note bearing all intervening endorsements, endorsed
                  "Pay
                  to the order of  
                  without recourse" and signed in the name of the Company by an authorized
                  officer (in the event that the Mortgage Loan was acquired by the
                  Company
                  in a merger, the signature must be in the following form: "[Company],
                  successor by merger to [name of predecessor]"; and in the event
                  that the
                  Mortgage Loan was acquired or originated by the Company while doing
                  business under another name, the signature must be in the following
                  form:
                  "[Company], formerly know as [previous
                  name]").

              

      

      

      
        	 	
                2.

              	
                The
                  original of any guarantee executed in connection with the Mortgage
                  Note
                  (if any).

              

      

      

      
        	 	
                3.

              	
                The
                  original Mortgage, with evidence of recording thereon or a certified
                  true
                  and correct copy of the Mortgage sent for recordation. If in connection
                  with any Mortgage Loan, the Company cannot deliver or cause to
                  be
                  delivered the original Mortgage with evidence of recording thereon
                  on or
                  prior to the related Closing Date because of a delay caused by
                  the public
                  recording office where such Mortgage has been delivered for recordation
                  or
                  because such Mortgage has been lost or because such public recording
                  office retains the original recorded Mortgage, the Company shall
                  deliver
                  or cause to be delivered to the Custodian, a photocopy of such
                  Mortgage,
                  together with (i) in the case of a delay caused by the public recording
                  office, an Officer's Certificate of the Company stating that such
                  Mortgage
                  has been dispatched to the appropriate public recording office
                  for
                  recordation and that the original recorded Mortgage or a copy of
                  such
                  Mortgage certified by such public recording office to be a true
                  and
                  complete copy of the original recorded Mortgage will be promptly
                  delivered
                  to the Custodian upon receipt thereof by the Company; or (ii) in
                  the case
                  of a Mortgage where a public recording office retains the original
                  recorded Mortgage or in the case where a Mortgage is lost after
                  recordation in a public recording office, a copy of such Mortgage
                  certified by such public recording office or by the title insurance
                  company that issued the title policy to be a true and complete
                  copy of the
                  original recorded Mortgage.

              

      

      

      Further,
        with respect to MERS Mortgage Loans, (a) the Mortgage names MERS as the
        Mortgagee and (b) the requirements set forth in the Electronic Tracking
        Agreement have been satisfied, with a conformed recorded copy to follow as
        soon
        as the same is received by the Company.

      

      
        	 	
                4.

              	
                the
                  originals or certified true copies of any document sent for recordation
                  of
                  all assumption, modification, consolidation or extension agreements,
                  with
                  evidence of recording thereon.

              

      

      

      
        	 	
                5.

              	
                The
                  original Assignment of Mortgage for each Mortgage Loan, in form
                  and
                  substance acceptable for recording (except for the insertion of
                  the name
                  of the assignee and recording information). The Assignment of Mortgage
                  must be duly recorded only if recordation is either necessary under
                  applicable law or commonly required by private institutional mortgage
                  investors in the area where the Mortgaged Property is located or
                  on
                  direction of the Purchaser as provided in the Custodial Agreement.
                  If the
                  Assignment of Mortgage is to be recorded, the Mortgage shall be
                  assigned
                  to the Purchaser. If the Assignment of Mortgage is not to be recorded,
                  the
                  Assignment of Mortgage shall be delivered in blank. If the Mortgage
                  Loan
                  was acquired by the Company in a merger, the Assignment of Mortgage
                  must
                  be made by "[Company], successor by merger to [name of predecessor]."
                  If
                  the Mortgage Loan was acquired or originated by the Company while
                  doing
                  business under another name, the Assignment of Mortgage must be
                  by
                  "[Company], formerly know as [previous name]."

              

      

      

      
        	 	
                6.

              	
                Originals
                  or certified true copies of documents sent for recordation of all
                  intervening assignments of the Mortgage with evidence of recording
                  thereon, or if any such intervening assignment has not been returned
                  from
                  the applicable recording office or has been lost or if such public
                  recording office retains the original recorded assignments of mortgage,
                  the Company shall deliver or cause to be delivered to the Custodian,
                  a
                  photocopy of such intervening assignment, together with (i) in
                  the case of
                  a delay caused by the public recording office, an Officer's Certificate
                  of
                  the Company stating that such intervening assignment of mortgage
                  has been
                  dispatched to the appropriate public recording office for recordation
                  and
                  that such original recorded intervening assignment of mortgage
                  or a copy
                  of such intervening assignment of mortgage certified by the appropriate
                  public recording office or by the title insurance company that
                  issued the
                  title policy to be a true and complete copy of the original recorded
                  intervening assignment of mortgage will be promptly delivered to
                  the
                  Custodian upon receipt thereof by the Company; or (ii) in the case
                  of an
                  intervening assignment where a public recording office retains
                  the
                  original recorded intervening assignment or in the case where an
                  intervening assignment is lost after recordation in a public recording
                  office, a copy of such intervening assignment certified by such
                  public
                  recording office to be a true and complete copy of the original
                  recorded
                  intervening assignment.

              

      

      

      
        	 	
                7.

              	
                The
                  electronic form of PMI Policy as identified by certificate
                  number.

              

      

      

      
        	 	
                8.

              	
                The
                  original mortgagee policy of title insurance or other evidence
                  of title
                  such as a copy of the title commitment or copy of the preliminary
                  title
                  commitment.

              

      

      

      
        	 	
                9.

              	
                Any
                  security agreement, chattel mortgage or equivalent executed in
                  connection
                  with the Mortgage.

              

      

      

      10. Original
        power of attorney, if applicable.

       

      
        	 	
                11.

              	
                For
                  each Cooperative Loan, the original or a seller certified true
                  copy of the
                  following:

              

      

       

      

      The
        original Pledge Agreement entered into by the Mortgagor with respect to such
        Cooperative Loan;

       

      UCC-3
        assignment in blank (or equivalent instrument), sufficient under the laws
        of the
        jurisdiction where the related Cooperative Apartment is located to reflect
        of
        record the sale and assignment of the Cooperative Loan to the
        Purchaser;

       

      Original
        assignment of Pledge Agreement in blank showing a complete chain of assignment
        from the originator of the related Cooperative Loan to the Company;

       

      Original
        Form UCC-1 and any continuation statements with evidence of filing thereon
        with
        respect to such Cooperative Loan;

       

      Cooperative
        Shares with a Stock Certificate in blank attached; 

       

      Original
        Proprietary Lease;

       

      Original
        Assignment of Proprietary Lease, in blank, and all intervening assignments
        thereof;

       

      Original
        recognition agreement of the interests of the mortgagee with respect to the
        Cooperative Loan by the Cooperative, the stock of which was pledged by the
        related Mortgagor to the originator of such Cooperative Loan; and

       

      Originals
        of any assumption, consolidation or modification agreements relating to any
        of
        the items specified above.

      

      With
        respect to each Mortgage Loan, the Servicing File shall include each of the
        following items to the extent in the possession of the Company or in the
        possession of the Company’s agent(s):

      

      
        	 	
                12.

              	
                The
                  original hazard insurance policy and, if required by law, flood
                  insurance
                  policy, in accordance with Section 4.10 of the
                  Agreement.

              

      

      

      
        	 	
                13.

              	
                Residential
                  loan application.

              

      

      

      
        	 	
                14.

              	
                Mortgage
                  Loan closing statement.

              

      

      

      
        	 	
                15.

              	
                Verification
                  of employment and income, unless originated under the Company's
                  Limited
                  Documentation program, Fannie Mae Timesaver
                  Plus.

              

      

      

      
        	 	
                16.

              	
                Verification
                  of acceptable evidence of source and amount of down
                  payment.

              

      

      

      
        	 	
                17.

              	
                Credit
                  report on the Mortgagor.

              

      

      

      
        	 	
                18.

              	
                Residential
                  appraisal report.

              

      

      

      
        	 	
                19.

              	
                Photograph
                  of the Mortgaged Property.

              

      

      

      
        	 	
                20.

              	
                Survey
                  of the Mortgage property, if required by the title company or applicable
                  law.

              

      

      

      
        	 	
                21.

              	
                Copy
                  of each instrument necessary to complete identification of any
                  exception
                  set forth in the exception schedule in the title policy, i.e. map
                  or plat,
                  restrictions, easements, sewer agreements, home association declarations,
                  etc.

              

      

      

      
        	 	
                22.

              	
                All
                  required disclosure statements.

              

      

      

      
        	 	
                23.

              	
                If
                  available, termite report, structural engineer's report, water
                  potability
                  and septic certification.

              

      

      

      
        	 	
                24.

              	
                Sales
                  contract, if applicable.

              

      

      

      
        	 	
                25.

              	
                Evidence
                  of payment of taxes and insurance premiums, insurance claim files,
                  correspondence, current and historical computerized data files,
                  and all
                  other processing, underwriting and closing papers and records which
                  are
                  customarily contained in a mortgage loan file and which are required
                  to
                  document the Mortgage Loan or to service the Mortgage
                  Loan.

              

      

      

      
        	 	
                26.

              	
                Amortization
                  schedule, if available.

              

      

      

      
        	 	
                27.

              	
                Payment
                  history for any Mortgage Loan that has been closed for more than
                  90
                  days.

              

      

      

      

      In
        the
        event an Officer's Certificate of the Company is delivered to the Custodian
        because of a delay caused by the public recording office in returning any
        recorded document, the Company shall deliver to the Custodian, within 240
        days
        of the related Closing Date, an Officer's Certificate which shall (i) identify
        the recorded document, (ii) state that the recorded document has not been
        delivered to the Custodian due solely to a delay caused by the public recording
        office, (iii) state the amount of time generally required by the applicable
        recording office to record and return a document submitted for recordation,
        and
        (iv) specify the date the applicable recorded document will be delivered
        to the
        Custodian. The Company shall be required to deliver to the Custodian the
        applicable recorded document by the date specified in (iv) above. An extension
        of the date specified in (iv) above may be requested from the Purchaser,
        which
        consent shall not be unreasonably withheld. 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        D

      

      

      SERVICING
        CRITERIA TO BE ADDRESSED

      IN
        ASSESSMENT OF COMPLIANCE

      

      

      
        	
                Reg
                  AB Reference

              	
                Servicing
                  Criteria

              	
                Applicable
                  Servicing Criteria

              	
                Inapplicable
                  Servicing Criteria

              
	 	
                General
                  Servicing Considerations

              	 	 
	
                1122(d)(1)(i)

              	
                Policies
                  and procedures are instituted to monitor any performance or other
                  triggers
                  and events of default in accordance with the transaction
                  agreements.

              	 	 
	
                1122(d)(1)(ii)

              	
                If
                  any material servicing activities are outsourced to third parties,
                  policies and procedures are instituted to monitor the third party’s
                  performance and compliance with such servicing activities.

              	 	 
	
                1122(d)(1)(iii)

              	
                Any
                  requirements in the transaction agreements to maintain a back-up
                  servicer
                  for the mortgage loans are maintained. 

              	 	 
	
                1122(d)(1)(iv)

              	
                A
                  fidelity bond and errors and omissions policy is in effect on the
                  party
                  participating in the servicing function throughout the reporting
                  period in
                  the amount of coverage required by and otherwise in accordance
                  with the
                  terms of the transaction agreements. 

              	 	 
	 	
                Cash
                  Collection and Administration

              	 	 
	
                1122(d)(2)(i)

              	
                Payments
                  on mortgage loans are deposited into the appropriate custodial
                  bank
                  accounts and related bank clearing accounts no more than two business
                  days
                  following receipt, or such other number of days specified in the
                  transaction agreements. 

              	 	 
	
                1122(d)(2)(ii)

              	
                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel. 

              	 	 
	
                1122(d)(2)(iii)

              	
                Advances
                  of funds or guarantees regarding collections, cash flows or distributions,
                  and any interest or other fees charged for such advances, are made,
                  reviewed and approved as specified in the transaction agreements.
                  

              	 	 
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of overcollateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements. 

              	 	 
	
                1122(d)(2)(v)

              	
                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial institution
                  that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.
                  

              	 	 
	
                1122(d)(2)(vi)

              	
                Unissued
                  checks are safeguarded so as to prevent unauthorized access.
                  

              	 	 
	
                1122(d)(2)(vii)
                  

              	
                Reconciliations
                  are prepared on a monthly basis for all asset-backed securities
                  related
                  bank accounts, including custodial accounts and related bank clearing
                  accounts. These reconciliations are (A) mathematically accurate;
                  (B)
                  prepared within 30 calendar days after the bank statement cutoff
                  date, or
                  such other number of days specified in the transaction agreements;
                  (C)
                  reviewed and approved by someone other than the person who prepared
                  the
                  reconciliation; and (D) contain explanations for reconciling items.
                  These
                  reconciling items are resolved within 90 calendar days of their
                  original
                  identification, or such other number of days specified in the transaction
                  agreements. 

              	 	 
	 	
                Investor
                  Remittances and Reporting

              	 	 
	
                1122(d)(3)(i)

              	
                Reports
                  to investors, including those to be filed with the Commission,
                  are
                  maintained in accordance with the transaction agreements and applicable
                  Commission requirements. Specifically, such reports (A) are prepared
                  in
                  accordance with timeframes and other terms set forth in the transaction
                  agreements; (B) provide information calculated in accordance with
                  the
                  terms specified in the transaction agreements; (C) are filed with
                  the
                  Commission as required by its rules and regulations; and (D) agree
                  with
                  investors’ or the trustee’s records as to the total unpaid principal
                  balance and number of mortgage loans serviced by the Servicer.
                  

              	 	 

      

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

      

      
        	
                Reg
                  AB Reference

              	
                Servicing
                  Criteria

              	
                Applicable
                  Servicing Criteria

              	
                Inapplicable
                  Servicing Criteria

              
	 	
                Pool
                  Asset Administration (cont’d)

              	 	 
	
                1122(d)(3)(ii)

              	
                Amounts
                  due to investors are allocated and remitted in accordance with
                  timeframes,
                  distribution priority and other terms set forth in the transaction
                  agreements. 

              	 	 
	
                1122(d)(3)(iii)

              	
                Disbursements
                  made to an investor are posted within two business days to the
                  Servicer’s
                  investor records, or such other number of days specified in the
                  transaction agreements. 

              	 	 
	
                1122(d)(3)(iv)

              	
                Amounts
                  remitted to investors per the investor reports agree with cancelled
                  checks, or other form of payment, or custodial bank statements.
                  

              	 	 
	 	
                Pool
                  Asset Administration

              	 	 
	
                1122(d)(4)(i)
                  

              	
                Collateral
                  or security on mortgage loans is maintained as required by the
                  transaction
                  agreements or related mortgage loan documents. 

              	 	 
	
                1122(d)(4)(ii)

              	
                Mortgage
                  loan and related documents are safeguarded as required by the transaction
                  agreements 

              	 	 
	
                1122(d)(4)(iii)

              	
                Any
                  additions, removals or substitutions to the asset pool are made,
                  reviewed
                  and approved in accordance with any conditions or requirements
                  in the
                  transaction agreements. 

              	 	 
	
                1122(d)(4)(iv)

              	
                Payments
                  on mortgage loans, including any payoffs, made in accordance with
                  the
                  related mortgage loan documents are posted to the Servicer’s obligor
                  records maintained no more than two business days after receipt,
                  or such
                  other number of days specified in the transaction agreements, and
                  allocated to principal, interest or other items (e.g., escrow)
                  in
                  accordance with the related mortgage loan documents. 

              	 	 
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the mortgage loans agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal balance.
                  

              	 	 
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's mortgage loans
                  (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents. 

              	 	 
	
                1122(d)(4)(vii)

              	
                Loss
                  mitigation or recovery actions (e.g., forbearance plans, modifications
                  and
                  deeds in lieu of foreclosure, foreclosures and repossessions, as
                  applicable) are initiated, conducted and concluded in accordance
                  with the
                  timeframes or other requirements established by the transaction
                  agreements. 

              	 	 
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a mortgage
                  loan is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent mortgage loans including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or unemployment).
                  

              	 	 
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for mortgage loans with variable
                  rates are computed based on the related mortgage loan documents.
                  

              	 	 
	
                1122(d)(4)(x)

              	
                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s mortgage loan
                  documents, on at least an annual basis, or such other period specified
                  in
                  the transaction agreements; (B) interest on such funds is paid,
                  or
                  credited, to obligors in accordance with applicable mortgage loan
                  documents and state laws; and (C) such funds are returned to the
                  obligor
                  within 30 calendar days of full repayment of the related mortgage
                  loans,
                  or such other number of days specified in the transaction agreements.
                  

              	 	 
	
                1122(d)(4)(xi)

              	
                Payments
                  made on behalf of an obligor (such as tax or insurance payments)
                  are made
                  on or before the related penalty or expiration dates, as indicated
                  on the
                  appropriate bills or notices for such payments, provided that such
                  support
                  has been received by the servicer at least 30 calendar days prior
                  to these
                  dates, or such other number of days specified in the transaction
                  agreements. 

              	 	 
	
                1122(d)(4)(xii)

              	
                Any
                  late payment penalties in connection with any payment to be made
                  on behalf
                  of an obligor are paid from the Servicer’s funds and not charged to the
                  obligor, unless the late payment was due to the obligor’s error or
                  omission. 

              	 	 
	
                1122(d)(4)(xiii)

              	
                Disbursements
                  made on behalf of an obligor are posted within two business days
                  to the
                  obligor’s records maintained by the servicer, or such other number of days
                  specified in the transaction agreements. 

              	 	 
	
                1122(d)(4)(xiv)
                  

              	
                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements. 

              	 	 
	
                1122(d)(4)(xv)

              	
                Any
                  external enhancement or other support, identified in Item 1114(a)(1)
                  through (3) or Item 1115 of Regulation AB, is maintained as set
                  forth in
                  the transaction agreements. 

              	 	 

      

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      EXHIBIT
        E

      

      

      FORM
        OF
        SARBANES CERTIFICATION

      

      
        	 	
                Re:

              	
                The
                  [ ] agreement dated as of [ ], 200[ ] (the “Agreement”), among [IDENTIFY
                  PARTIES]

              

      

      

      I,
        ________________________________, the _______________________ of [Name of
        Servicer], certify to [the Owner], [the Depositor], and the [Master Servicer]
        [Securities Administrator] [Trustee], and their officers, with the knowledge
        and
        intent that they will rely upon this certification, that:

      

      (1) I
        have
        reviewed the servicer compliance statement of the Servicer provided in
        accordance with Item 1123 of Regulation AB (the “Compliance Statement”), the
        report on assessment of the Servicer’s compliance with the servicing criteria
        set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided
        in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act
        of
        1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the
“Servicing Assessment”), the registered public accounting firm’s attestation
        report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange
        Act and Section 1122(b) of Regulation AB (the “Attestation Report”), and all
        servicing reports, officer’s certificates and other information relating to the
        servicing of the Mortgage Loans by the Servicer during 200[ ] that were
        delivered by the Servicer to the [Depositor] [Master Servicer] [Securities
        Administrator] [Trustee] pursuant to the Agreement (collectively, the “Servicer
        Servicing Information”);

      

      (2) Based
        on
        my knowledge, the Servicer Servicing Information, taken as a whole, does
        not
        contain any untrue statement of a material fact or omit to state a material
        fact
        necessary to make the statements made, in the light of the circumstances
        under
        which such statements were made, not misleading with respect to the period
        of
        time covered by the Servicer Servicing Information; 

      

      (3) Based
        on
        my knowledge, all of the Servicer Servicing Information required to be provided
        by the Servicer under the Agreement has been provided to the [Depositor]
        [Master
        Servicer] [Securities Administrator] [Trustee];

      

      (4) I
        am
        responsible for reviewing the activities performed by the Servicer under
        the
        Agreement, and based on my knowledge and the compliance review conducted
        in
        preparing the Compliance Statement and except as disclosed in the Compliance
        Statement, the Servicing Assessment or the Attestation Report, the Servicer
        has
        fulfilled its obligations under the Agreement; and

      

      (5) The
        Compliance Statement, the Servicing Assessment and the Attestation Report
        required to be provided by the Servicer pursuant to the Agreement have been
        provided to the [Depositor] [Master Servicer]. Any material instances of
        noncompliance described in such reports have been disclosed to the [Depositor]
        [Master Servicer]. Any material instance of noncompliance with the Servicing
        Criteria has been disclosed in such reports.

      

      

        
          	 	Date: 
	 	 	 
	 	
                  By:

                	 
	 	
                  Name:

                	 
	 	
                  Title:

                	 

        

        

      

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

      EXHIBIT
        F

       

      FORM
        OF
        SARBANES-OXLEY BACK-UP CERTIFICATION

      

      I,
        ______________________, Vice President of Wells Fargo Bank, N.A. (the
        "Servicer"), certify to __________________, and its officers, directors,
        agents
        and affiliates (the "Sarbanes Certifying Party"), and with the knowledge
        and
        intent that they will rely upon this certification, that:

      

      
        	 	
                (i)

              	
                Based
                  on my knowledge, the information relating to the Mortgage Loans
                  and the
                  servicing thereof submitted by the Servicer to the Sarbanes Certifying
                  Party which is used in connection with preparation of the reports
                  on Form
                  8-K and the annual report on Form 10-K filed with the Securities
                  and
                  Exchange Commission with respect to the Securitization, taken as
                  a whole,
                  does not contain any untrue statement of a material fact or omit
                  to state
                  a material fact necessary to make the statements made, in light
                  of the
                  circumstances under which such statements were made, not misleading
                  as of
                  the date of this certification;

              

      

      

      
        	 	
                (ii)

              	
                The
                  servicing information required to be provided to the Sarbanes Certifying
                  Party by the Servicer under the relevant servicing agreement has
                  been
                  provided to the Sarbanes Certifying
                  Party;

              

      

      

      
        	 	
                (iii)
                  

              	
                I
                  am responsible for reviewing the activities performed by the Servicer
                  under the relevant servicing agreement and based upon the review
                  required
                  by the relevant servicing agreement, and except as disclosed in
                  the Annual
                  Statement of Compliance, the Annual Independent Public Accountant's
                  Servicing Report and all servicing reports, officer's certificates
                  and
                  other information relating to the servicing of the Mortgage Loans
                  submitted to the Sarbanes Certifying Party, the Servicer has, as
                  of the
                  date of this certification fulfilled its obligations under the
                  relevant
                  servicing agreement; and

              

      

      

      
        	 	
                (iv)

              	
                I
                  have disclosed to the Sarbanes Certifying Party all significant
                  deficiencies relating to the Servicer's compliance with the minimum
                  servicing standards in accordance with a review conducted in compliance
                  with the Uniform Single Attestation Program for Mortgage Bankers
                  or
                  similar standard as set forth in the relevant servicing agreement.
                  

              

      

      

      
        	 	
                (v)
                  

              	
                The
                  Servicer shall indemnify and hold harmless the Sarbanes Certifying
                  Party
                  and its officers, directors, agents and affiliates from and against
                  any
                  losses, damages, penalties, fines, forfeitures, reasonable legal
                  fees and
                  related costs, judgments and other costs and expenses arising out
                  of or
                  based upon a breach by the Servicer or any of its officers, directors,
                  agents or affiliates of its obligations under this Certification
                  or the
                  negligence, bad faith or willful misconduct of the Servicer in
                  connection
                  therewith. If the indemnification provided for herein is unavailable
                  or
                  insufficient to hold harmless the Sarbanes Certifying Party, then
                  the
                  Servicer agrees that it shall contribute to the amount paid or
                  payable by
                  the Sarbanes Certifying Party as a result of the losses, claims,
                  damages
                  or liabilities of the Sarbanes Certifying Party in such proportion
                  as is
                  appropriate to reflect the relative fault of the Sarbanes Certifying
                  Party
                  on the one hand and the Servicer on the other in connection with
                  a breach
                  of the Servicer's obligations under this Certification or the Servicer's
                  negligence, bad faith or willful misconduct in connection
                  therewith.

              

      

      

      IN
        WITNESS WHEREOF, I have hereunto signed my name and affixed the seal of the
        Servicer.

      

            

      
        
          	Dated: 	 
	 	 	 
	 	
                  By:

                	 
	 	
                  Name:

                	 
	 	
                  Title:

                	 

        

        

      

       

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

      EXHIBIT
        G

      

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

      

      

      ____________,
        20__

      

      

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT, dated ___________________, 20____ between
        _________________, a _________________ corporation having an office at
        _________________ ("Assignor") and _________________, having an office at
        _________________ ("Assignee"):

      

      For
        and
        in consideration of the sum of one dollar ($1.00) and other valuable
        consideration the receipt and sufficiency of which are hereby acknowledge,
        and
        of the mutual covenants herein contained, the parties hereto hereby agree
        as
        follows:

      

      1. The
        Assignor hereby grants, transfers and assigns to Assignee all of the right,
        title and interest of Assignor, as Purchaser, in, to and under that certain
        Seller's Warranties and Servicing Agreement, (the "Seller's Warranties and
        Servicing Agreement"), dated as of _________________, by and between
        _________________ (the "Purchaser"), and _________________ (the "Company"),
        and
        the Mortgage Loans delivered thereunder by the Company to the Assignor, and
        that
        certain Custodial Agreement, (the "Custodial Agreement"), dated as of
        _________________, by and among the Company, the Purchaser and _________________
        (the "Custodian").

      

      2. The
        Assignor warrants and represents to, and covenants with, the Assignee
        that:

      

      a. The
        Assignor is the lawful owner of the Mortgage Loans with the full right to
        transfer the Mortgage Loans free from any and all claims and encumbrances
        whatsoever;

      

      b. The
        Assignor has not received notice of, and has no knowledge of, any offsets,
        counterclaims or other defenses available to the Company with respect to
        the
        Seller's Warranties and Servicing Agreement or the Mortgage Loans;

      

      c. The
        Assignor has not waived or agreed to any waiver under, or agreed to any
        amendment or other modification of, the Seller's Warranties and Servicing
        Agreement, the Custodial Agreement or the Mortgage Loans, including without
        limitation the transfer of the servicing obligations under the Seller's
        Warranties and Servicing Agreement. The Assignor has no knowledge of, and
        has
        not received notice of, any waivers under or amendments or other modifications
        of, or assignments of rights or obligations under, the Seller's Warranties
        and
        Servicing Agreement or the Mortgage Loans; and

      

      d. Neither
        the Assignor nor anyone acting on its behalf has offered, transferred, pledged,
        sold or otherwise disposed of the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security to, or solicited any offer to buy or
        accept
        a transfer, pledge or other disposition of the Mortgage Loans, any interest
        in
        the Mortgage Loans or any other similar security from, or otherwise approached
        or negotiated with respect to the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security with, any person in any manner, or made
        any
        general solicitation by means of general advertising or in any other manner,
        or
        taken any other action which would constitute a distribution of the Mortgage
        Loans under the Securities Act or which would render the disposition of the
        Mortgage Loans a violation of Section 5 of the 33 Act or require registration
        pursuant thereto.

      

      3. That
        Assignee warrants and represent to, and covenants with, the Assignor and
        the
        Company pursuant to Section 12.10 of the Seller's Warranties and Servicing
        Agreement that:

      

      a. The
        Assignee agrees to be bound, as Purchaser, by all of the terms, covenants
        and
        conditions of the Seller's Warranties and Servicing Agreement, the Mortgage
        Loans and the Custodial Agreement, and from and after the date hereof, the
        Assignee assumes for the benefit of each of the Company and the Assignor
        all of
        the Assignor's obligations as purchaser thereunder;

      

      b. The
        Assignee understands that the Mortgage Loans have not been registered under
        the
        33 Act or the securities laws of any state;

      

      c. The
        purchase price being paid by the Assignee for the Mortgage Loans are in excess
        of $250,000.00 and will be paid by cash remittance of the full purchase price
        within 60 days of the sale;

      

      d. The
        Assignee is acquiring the Mortgage Loans for investment for its own account
        only
        and not for any other person. In this connection, neither the Assignee nor
        any
        person authorized to act therefor has offered to Mortgage Loans by means
        of any
        general advertising or general solicitation within the meaning of Rule 502(c)
        of
        US Securities and Exchange Commission Regulation D, promulgated under the
        Securities Act;

      

      e. The
        Assignee considers itself a substantial sophisticated institutional investor
        having such knowledge and experience in financial and business matters that
        it
        is capable of evaluating the merits and risks of investment in the Mortgage
        Loans;

      

      f. The
        Assignee has been furnished with all information regarding the Mortgage Loans
        that it has requested from the Assignor or the Company;

      

      g. Neither
        the Assignee nor anyone acting on its behalf has offered, transferred, pledged,
        sold or otherwise disposed of the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security to, or solicited any offer to buy or
        accept
        a transfer, pledge or other disposition of the Mortgage Loans, any interest
        in
        the Mortgage Loans or any other similar security from, or otherwise approached
        or negotiated with respect to the Mortgage Loans, any interest in the Mortgage
        Loans or any other similar security with, any person in any manner which
        would
        constitute a distribution of the Mortgage Loans under the 33 Act or which
        would
        render the disposition of the Mortgage Loans a violation of Section 5 of
        the 33
        Act or require registration pursuant thereto, nor will it act, nor has it
        authorized or will it authorize any person to act, in such manner with respect
        to the Mortgage Loans; and

      

      h. Either
        (1) the Assignee is not an employee benefit plan ("Plan") within the meaning
        of
        section 3(3) of the Employee Retirement Income Security Act of 1974, as amended
        ("ERISA") or a plan (also "Plan") within the meaning of section 4975(e)(1)
        of
        the Internal Revenue Code of 1986 ("Code"), and the Assignee is not directly
        or
        indirectly purchasing the Mortgage Loans on behalf of, investment manager
        of, as
        named fiduciary of, as Trustee of, or with assets of, a Plan; or (2) the
        Assignee's purchase of the Mortgage Loans will not result in a prohibited
        transaction under section 406 of ERISA or section 4975 of the Code.

      

      i. The
        Assignee's address for purposes of all notices and correspondence related
        to the
        Mortgage Loans and the Seller's Warranties and Servicing Agreements
        is:

      

      

        
          	 	 	 
	 	 	 
	 	 	
                   

                
	 	Attention:
                  _________________	 

        

      

      
 

       

      

      The
        Assignee's wire transfer instructions for purposes of all remittances and
        payments related to the Mortgage Loans and the Seller's Warranties and Servicing
        Agreement is:

      

       

      
        

          
            	 	 	 
	 	 	 
	 	 	
                     

                  
	 	Attention:
                    _________________	 

          

        

        

      

      

      4. From
        and
        after the date hereof, the Company shall note the transfer of the Mortgage
        Loans
        to the Assignee in its books and records, the Company shall recognize the
        Assignee as the owner of the Mortgage Loans and the Company shall service
        the
        Mortgage Loans for the benefit of the Assignee pursuant to the Seller’s
        Warranties and Servicing Agreement, the terms of which are incorporated herein
        by reference. It is the intention of the Assignor, the Company and the Assignee
        that the Seller’s Warranties and Servicing Agreement shall be binding upon and
        inure to the benefit of the Company and the Assignee and their respective
        successors and assigns.

      

      [Signatures
        Follow]

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

      

      

      IN
        WITNESS WHEREOF, the parties have caused this Assignment and Assumption to
        be
        executed by their duly authorized officers as of the date first above
        written.

      

      

        
          	 	 	 
	Assignor	 	 	Assignor	 
	
                  By:

                	 	 	
                  By:

                	 
	
                  Name:

                	 	 	
                  Name:

                	 
	
                  Title:

                	 	 	
                  Title:

                	 
	Tax
                  Payer
                  Identification No.:    	 	Tax
                  Payer
                  Identification No.:    
	 	 	 

        

       

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

      EXHIBIT
        H

      

      ELECTRONIC
        DATA FILE

      

      
        	 	
                (1)

              	
                the
                  street address of the Mortgaged Property including the city, state,
                  county
                  and zip code;

              

      

      

      
        	 	
                (2)

              	
                a
                  code indicating whether the Mortgaged Property is a single family
                  residence, a 2-4 family dwelling, a PUD, a cooperative, a townhouse,
                  manufactured housing or a unit in a condominium
                  project;

              

      

      

      (3) the
        Mortgage Interest Rate as of the Cut-off Date;

      

      (4) the
        current Monthly Payment;

      

      (5) loan
        term, number of months;

      

      (6) the
        stated maturity date;

      

      
        	 	
                (7)

              	
                the
                  Stated Principal Balance of the Mortgage Loan as of the close of
                  business
                  on the Cut-off Date, after deduction of payments of principal due
                  on or
                  before the Cut-off Date;

              

      

      

      
        	 	
                (8)

              	
                the
                  Loan-to-Value Ratio;

              

      

      

      
        	 	
                (9)

              	
                a
                  code indicating whether the Mortgage Loan is an Interest Only Mortgage
                  Loan;

              

      

      

      
        	 	
                (10)

              	
                a
                  code indicating whether the Mortgage Loan is a temporary buydown
                  (Y or
                  N);

              

      

      

      
        	 	
                (11)

              	
                the
                   Servicing Fee Rate;

              

      

      

      
        	 	
                (12)

              	
                a
                  code indicating whether the Mortgage Loan is covered by lender-paid
                  mortgage insurance (Y or N);

              

      

      

      
        	 	
                (13)

              	
                a
                  code indicating whether the Mortgage Loan is a Time$aver® Mortgage Loan (Y
                  or N);

              

      

      

      
        	 	
                (14)

              	
                the
                  Mortgagor's first and last name;

              

      

      

      
        	 	
                (15)

              	
                a
                  code indicating whether the Mortgaged Property is owner-occupied;
                  

              

      

      

      
        	 	
                (16)

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

              

      

      

      
        	 	
                (17)

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

              

      

      

      
        	 	
                (18)

              	
                the
                  last Due Date on which a Monthly Payment was actually applied to
                  the
                  actual principal balance; 

              

      

      

      
        	 	
                (19)

              	
                the
                  original principal amount of the Mortgage Loan;

              

      

      

      
        	 	
                (20)

              	
                a
                  code indicating the purpose of the loan (i.e., purchase, financing,
                  rate/term refinancing, cash-out refinancing);

              

      

      

      
        	 	
                (21)

              	
                the
                  Mortgage Interest Rate at origination;

              

      

      

      
        	 	
                (22)

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

              

      

      

      
        	 	
                (23)

              	
                a
                  code indicating the documentation style (i.e., full (providing
                  two years
                  employment verification - 2 years W-2’s and current pay stub or 2 years
                  1040’s for self employed borrowers), alternative or
                  reduced);

              

      

      

      
        	 	
                (24)

              	
                a
                  code indicating if the Mortgage Loan is subject to a PMI
                  Policy;

              

      

      

      
        	 	
                (25)

              	
                the
                  Appraised Value of the Mortgage
                  Property;

              

      

      

      
        	 	
                (26)

              	
                the
                  sale price of the Mortgaged Property, if
                  applicable;

              

        	 	 	 

        	 	(27) 
	the Mortgagor’s Underwriting FICO
                Score;

        	 	(28) 
	term of prepayment penalty in
                years;

        	 	 	 

        	 	(29) 	a code indicating the product
                type;

        	 	 	 

        	 	(30) 	a code indicating the credit grade of the Mortgage
                Loan;

      

       

      
        	 	
                (31)

              	
                the
                  unpaid balance of the Mortgage Loan as of the close of business
                  on the
                  Cut-off Date, after deduction of all payments of
                  principal;

              

      

      

      (32) the
        Note
        date of the Mortgage Loan;

      

      
        	 	
                (33)

              	
                the
                  mortgage insurance certificate number and percentage of coverage,
                  if
                  applicable;

              

      

      

      (34) the
        Mortgagor’s date of birth;

      

      
        	 	
                (35)

              	
                the
                  MIN Number for each Mortgage Loan, if
                  applicable;

              

      

      

      (36) employer
        name;

      

      (37) subsidy
        program code;

      

      (38) servicer
        name;

      

      (39) the
        combined Loan-to-Value Ratio;

      

      (40) the
        total
        Loan-to-Value Ratio;

      

      (41) whether
        the Mortgage Loan is convertible (Y or N);

      

      
        	 	
                (42)

              	
                a
                  code indicating whether the Mortgage Loan is a relocation loan
                  (Y or
                  N);

              

      

      

      (43) a
        code
        indicating whether the Mortgage Loan is a leasehold loan (Y or N);

      

      (44) a
        code
        indicating whether the Mortgage Loan is an Alt A loan (Y or N);

      

      (45) a
        code
        indicating whether the Mortgage Loan is a no ratio loan (Y or N); 

      

      
        	 	
                (46)

              	
                a
                  code indicating whether the Mortgage Loan is a Pledged Asset Mortgage
                  Loan
                  (Y or N);

              

      

      

      (47) effective
        LTV percentage for Pledged Asset Mortgage Loans;

      

      (48) citizenship
        type code;

      

      
        	 	
                (49)

              	
                a
                  code indicating whether the Mortgage Loan is a conforming or
                  non-conforming loan, based on the original loan
                  balance;

              

      

      

      (50) the
        name
        of the client for which the Mortgage Loan was originated;

      

      (51) the
        program code;

      

      (52) the
        loan
        sub doc code;

      

      (53) the
        remaining interest-only term for Interest Only Mortgage Loans;

      

      The
        Company shall provide the following

      For
        the Home Mortgage Disclosure Act (HMDA):

      

      (54) the
        Mortgagor’s and co-Mortgagor’s (if applicable) ethnicity;

      

      (55) the
        Mortgagor’s and co-Mortgagor’s (if applicable) race;

      

      (56) lien
        status;

      

      (57) for
        cash-out refinance loans, the cash purpose;

      

      (58) the
        Mortgagor’s and co-Mortgagor’s (if applicable) gender;

      

      (59) the
        Mortgagor’s and co-Mortgagor’s (if applicable) social security
        numbers;

      

      (60) the
        number of units for the property;

      

      (61) the
        year
        in which the property was built;

      

      (62) the
        qualifying monthly income of the Mortgagor;

      

      (63) the
        number of bedrooms contained in the property;

      

      (64) a
        code
        indicating first time buyer (Y or N);

      

      (65) the
        total
        rental income, if any;

      

      The
        Seller shall provide the following

      for
        the adjustable rate Mortgage Loans (if applicable):

      

      (66) the
        maximum Mortgage Interest Rate under the terms of the Mortgage
        Note;

      

      (67) the
        Periodic Interest Rate Cap;

      

      (68) the
        Index;

      

      (69) the
        next
        Adjustment Date;

      

      (70) the
        Gross
        Margin; and

      

      (71) the
        lifetime interest rate cap.

      

      

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

      MASTER
        MORTGAGE LOAN PURCHASE AGREEMENT

      

      

      This
        is
        an Amended and Restated Master Mortgage Loan Purchase Agreement (the
        "Agreement"), dated as of November 1, 2004 by and between EMC Mortgage
        Corporation, having an office at 909 Hidden Ridge Drive, Suite 200, Irving,
        Texas 75038 (the "Purchaser") and Wells Fargo Bank, N.A., having an office
        at 1
        Home Campus, Des Moines, Iowa 50328-0001 (the "Seller").

      

      W I T N E&am
        p;#1 60;S S E T H

      

      WHEREAS,
        the Seller agrees to sell, and the Purchaser agrees to purchase, from time
        to
        time certain conventional residential mortgage loans (the "Mortgage Loans")
        on a
        servicing retained basis as described herein:

      

      WHEREAS,
        the Mortgage Loans shall be delivered as pools of whole loans (each a “Loan
        Package”) on various dates as provided herein (each a “Closing Date”);
        and

      

      WHEREAS,
        the parties intend hereby to set forth the terms and conditions upon which
        the
        proposed Transactions will be effected.

      

      NOW
        THEREFORE, in consideration of the promises and the mutual agreements set
        forth
        herein, the parties hereto agree as follows:

      

      SECTION
        1. 
        All
        capitalized terms not otherwise defined herein have the respective meanings
        set
        forth in the Amended and Restated Master Seller's Warranties and Servicing
        Agreement, dated as of the date herewith (the“Master Seller's Warranties and
        Servicing Agreement"). 

      

      SECTION
        2. Agreement
        to Purchase.
        The
        Seller agrees to sell, and the Purchaser agrees to purchase from time to
        time,
        Mortgage Loans having an aggregate principal balance on the applicable related
        Cut-off Date in an amount as set forth in the related Commitment Letters
        or in
        such other amount as agreed by the Purchaser and the Seller as evidenced
        by the
        actual aggregate principal balance of the Mortgage Loans in the related Loan
        Package accepted by the Purchaser on the related Closing Date. The Mortgage
        Loans will be delivered pursuant to the Master Seller's Warranties and Servicing
        Agreement.

      

      SECTION
        3.  Mortgage
        Schedules.
        The
        Seller will provide the Purchaser with certain information constituting a
        listing of the Mortgage Loans to be purchased under this Agreement for each
        Transaction (the "Mortgage Loan Schedule"). Each Mortgage Loan Schedule shall
        conform to the definition of "Mortgage Loan Schedule" under the Master Seller's
        Warranties and Servicing Agreement.

      

      SECTION
        4.  Purchase
        Price.
        The
        purchase price for each Loan Package (the "Purchase Price") shall be the
        percentage of par as stated in the related Commitment Letter, multiplied
        by the
        aggregate principal balance, as of the related Cut-off Date, of the Mortgage
        Loans listed in the related Loan Package, after application of scheduled
        payments of principal for such related Loan Package due on or before the
        related
        Cut-off Date whether or not collected. The purchase price for a Loan Package
        may
        be adjusted as stated in the related Commitment Letter.

      

      In
        addition to the Purchase Price, the Purchaser shall pay to the Seller, at
        closing, accrued interest on the initial principal amount of the Mortgage
        Loans
        at the weighted average Mortgage Loan Remittance Rate for each Loan Package
        from
        the related Cut-off Date through the day prior to the related Closing Date,
        inclusive.

      

      With
        respect to each Loan Package, the Purchaser shall be entitled to (1) all
        scheduled principal due after the related Cut-off Date, (2) all other recoveries
        of principal collected after the related Cut-off Date (provided, however,
        that
        all scheduled payments of principal due on or before the related Cut-off
        Date
        and collected by the Seller after the related Cut-off Date shall belong to
        the
        Seller), and (3) all payments of interest on the Mortgage Loans at the Mortgage
        Loan Remittance Rate (minus that portion of any such payment which is allocable
        to the period prior to the related Cut-off Date). The principal balance of
        each
        Mortgage Loan as of the related Cut-off Date is determined after application
        of
        payments of principal due on or before the related Cut-off Date whether or
        not
        collected. Therefore, payments of scheduled principal and interest prepaid
        for a
        due date beyond the related Cut-off Date shall not be applied to the principal
        balance as of the related Cut-off Date. Such prepaid amounts (minus interest
        at
        the Servicing Fee Rate) shall be the property of the Purchaser. The Seller
        shall
        deposit any such prepaid amounts into the Custodial Account, which account
        is
        established for the benefit of the Purchaser for subsequent remittance by
        the
        Seller to the Purchaser. 

      

      SECTION
        5.  Examination
        of Mortgage Files.
        Prior to
        each Closing Date, the Seller shall (a) deliver to the Purchaser in escrow,
        for
        examination, the Mortgage File for each Mortgage Loan, including a copy of
        the
        Assignment of Mortgage, pertaining to each Mortgage Loan, or (b) make the
        Mortgage Files available to the Purchaser for examination at the Seller's
        offices or such other location as shall otherwise be agreed upon by the
        Purchaser and the Seller. Such examination may be made by the Purchaser or
        by
        any prospective purchaser of the Mortgage Loans from the Purchaser, at any
        time
        before or after such related Closing Date, upon prior reasonable notice to
        the
        Seller. The fact that the Purchaser or any prospective purchaser of the Mortgage
        Loans has conducted or has failed to conduct any partial or complete examination
        of the Mortgage Files shall not affect the Purchaser's (or any of its
        successor's) rights to demand repurchase, substitution or other relief as
        provided under the Master Seller's Warranties and Servicing
        Agreement.

      

      Prior
        to
        Seller’s receipt of the Purchase Price, the Purchaser shall cause the Custodian
        to act as bailee for the sole and exclusive benefit of the Seller pursuant
        to
        the Custodial Agreement and act only in accordance with Seller’s instructions.
        Upon the Seller’s receipt of the Purchase Price, the Seller shall provide
        notification to the Custodian to release ownership of the Mortgage Loan
        Documents contained in the Custodial Mortgage File. Such notification shall
        be
        in a form of a written notice by facsimile or other electronic media, with
        a
        copy sent to the Purchaser. Subsequent to such release, such Mortgage Loan
        Documents shall be retained by the Custodian for the benefit of the Purchaser.
        All Mortgage Loan Documents related to Mortgage Loans not purchased by the
        Purchaser on the Closing Date, shall be maintained by the Custodian for the
        benefit of the Seller and shall be returned to the Seller within two (2)
        Business Days after the Closing Date.

      

      SECTION
        6.  Representations,
        Warranties and Agreements of Seller.
        The
        Seller agrees and acknowledges that it shall, as a condition to the consummation
        of the transactions contemplated hereby, make the representations and warranties
        specified in Section 3.01 and 3.02 of the Master Seller's Warranties and
        Servicing Agreement, as of each related Closing Date. The meaning of the
        term
        "Agreement" as used in Sections 3.01 and 3.02 of the Master Seller's Warranties
        and Servicing Agreement shall include this Agreement. The Seller, without
        conceding that the Mortgage Loans are securities, hereby makes the following
        additional representations, warranties and agreements which shall be deemed
        to
        have been made as of the related Closing Date:

      

      a) neither
        the Seller nor anyone acting on its behalf has offered, transferred, pledged,
        sold or otherwise disposed of any Mortgage Loans, any interest in any Mortgage
        Loans or any other similar security to, or solicited any offer to buy or
        accept
        a transfer, pledge or other disposition of any Mortgage Loans, any interest
        in
        any Mortgage Loans or any other similar security from, or otherwise approached
        or negotiated with respect to any Mortgage Loans, any interest in any Mortgage
        Loans or any other similar security with, any person in any manner, or made
        any
        general solicitation by means of general advertising or in any other manner,
        or
        taken any other action which would constitute a distribution of the Mortgage
        Loans under the Securities Act or which would render the disposition of any
        Mortgage Loans a violation of Section 5 of the Securities Act or require
        registration pursuant thereto, nor will it act, nor has it authorized or
        will it
        authorize any person to act, in such manner with respect to the Mortgage
        Loans;
        and

      

      b) the
        Seller has not dealt with any broker or agent or anyone else who might be
        entitled to a fee or commission in connection with this transaction other
        than
        the Purchaser.

      

      SECTION
        7.  Representation,
        Warranties and Agreement of Purchaser.
        The
        Purchaser, without conceding that the Mortgage Loans are securities, hereby
        makes the following representations, warranties and agreements, which shall
        have
        been deemed to have been made as of the related Closing Date.

      

      a) the
        Purchaser understands that the Mortgage Loans have not been registered under
        the
        Securities Act or the securities laws of any state;

      

      b) the
        Purchaser is acquiring the Mortgage Loans for its own account only and not
        for
        any other person;

      

      c) the
        Purchaser considers itself a substantial, sophisticated institutional investor
        having such knowledge and experience in financial and business matters that
        it
        is capable of evaluating the merits and risks of investment in the Mortgage
        Loans;

      

      d) the
        Purchaser has been furnished with all information regarding the Mortgage
        Loans
        which it has requested from the Seller or the Company; and

      

      e) neither
        the Purchaser nor anyone acting on its behalf offered, transferred, pledged,
        sold or otherwise disposed of any Mortgage Loan, any interest in any Mortgage
        Loan or any other similar security to, or solicited any offer to buy or accept
        a
        transfer, pledge or other disposition of any Mortgage Loan, any interest
        in any
        Mortgage Loan or any other similar security from, or otherwise approached
        or
        negotiated with respect to any Mortgage Loan, any interest in any Mortgage
        Loan
        or any other similar security with, any person in any manner, or made any
        general solicitation by means of general advertising or in any other manner,
        or
        taken any other action which would constitute a distribution of the Mortgage
        Loans under the Securities Act or which would render the disposition of any
        Mortgage Loan a violation of Section 5 of the Securities Act or require
        registration pursuant thereto, nor will it act, nor has it authorized or
        will it
        authorize any person to act, in such manner with respect to the Mortgage
        Loans.

      

      SECTION
        8.  Closing.
        The
        closing for the purchase and sale of each Loan Package shall take place on
        the
        related Closing Date. At the Purchaser's option, the Closing shall be either:
        by
        telephone, confirmed by letter or wire as the parties shall agree; or conducted
        in person, at such place as the parties shall agree.

      

      The
        closing shall be subject to each of the following conditions:

      

      a) all
        of
        the representations and warranties of the Seller under this Agreement and
        under
        the Master Seller's Warranties and Servicing Agreement shall be true and
        correct
        as of such related Closing Date and no event shall have occurred which, with
        notice or the passage of time, would constitute a default under this Agreement
        or an Event of Default under the Master Seller's Warranties and Servicing
        Agreement;

      

      b) the
        Purchaser shall have received, or the Purchaser's attorneys shall have received
        in escrow, all Closing Documents as specified in Section 9 of this Agreement,
        in
        such forms as are agreed upon and acceptable to the Purchaser, duly executed
        by
        all signatories other than the Purchaser as required pursuant to the respective
        terms thereof;

      

      c) the
        Seller shall have delivered and released to the Custodian under the Master
        Seller's Warranties and Servicing Agreement all documents required pursuant
        to
        the related Custodial Agreement, and

      

      d) all
        other
        terms and conditions of this Agreement shall have been complied
        with.

      

      Subject
        to the foregoing conditions, the Purchaser shall pay to the Seller on such
        related Closing Date the applicable Purchase Price, plus accrued interest
        pursuant to Section 4 of this Agreement, by wire transfer of immediately
        available funds to the account designated by the Seller.

      

      SECTION
        9.  Closing
        Documents.
        With
        respect to the Mortgage Loans, the Closing Documents shall consist of the
        following documents:

      

      On
        the
        initial Closing Date:

      

      
        	 	
                1.

              	
                the
                  Master Seller's Warranties and Servicing Agreement, in three
                  counterparts;

              

      

      

      
        	 	
                2.

              	
                this
                  Agreement in two counterparts;

              

      

      

      
        	 	
                3.

              	
                the
                  Custodial Agreement, dated as November 30, 1999, by and between
                  EMC
                  Mortgage Corporation as Owner, and Wells Fargo Bank, N.A. (formerly
                  Wells
                  Fargo Bank Minnesota, N.A.) attached as an exhibit to the Master
                  Seller's
                  Warranties and Servicing Agreement;

              

      

      

      
        	 	
                4.

              	
                the
                  Mortgage Loan Schedule for the related Loan Package, one copy to
                  be
                  attached to each counterpart of the Master Seller's Warranties
                  and
                  Servicing Agreement, to each counterpart of this Agreement, and
                  to each
                  counterpart of the Custodial Agreement, as the Mortgage Loan Schedule
                  thereto;

              

      

      

      
        	 	
                5.

              	
                a
                  Receipt and Certification, as required under the Custodial
                  Agreement;

              

      

      

      
        	 	
                6.

              	
                an
                  Opinion of Counsel of the Seller, in the form of Exhibit 1 hereto;
                  and

              

      

      

      
        	 	
                7.

              	
                an
                  Assignment and Conveyance Agreement for the related Mortgage
                  Loans.

              

      

      

      On
        each
        subsequent Closing Date, the following documents:

      

      
        	 	
                1.

              	
                the
                  Mortgage Loan Schedule for the related Loan
                  Package;

              

      

      

      
        	 	
                2.

              	
                an
                  Assignment and Conveyance Agreement for the related Mortgage Loans;
                  and

              

      

      

      
        	 	
                3.

              	
                a
                  Receipt and Certification, as required under the Custodial
                  Agreement.

              

      

      

      

      SECTION
        10.  Costs.
        The
        Purchaser shall pay any commissions due its salesmen, the legal fees and
        expenses of its attorneys and the costs and expenses associated with the
        Custodian. The Seller shall be responsible for reasonable costs and expenses
        associated with any preparation of the initial assignments of mortgage. All
        other costs and expenses incurred in connection with the transfer and delivery
        of the Mortgage Loans, including fees for title policy endorsements and
        continuations and the Seller's attorney fees, shall be paid by the
        Seller.

      

      SECTION
        11.  Servicing
        The
        Mortgage Loans shall be serviced by the Seller in accordance with the terms
        of
        the Master Seller's Warranties and Servicing Agreement. The Seller shall
        be
        entitled to servicing fees calculated as provided therein, at the Servicing
        Fee
        Rate.

      

      SECTION
        12.  Financial
        Statements.
        The
        Seller understands that in connection with the Purchaser's marketing of the
        Mortgage Loans, the Purchaser shall make available to prospective purchasers
        a
        Consolidated Statement of Operations of the Seller for the most recently
        completed two fiscal years respecting which such a statement is available,
        as
        well as a Consolidated Statement of Condition at the end of the last two
        (2)
        fiscal years covered by such Consolidated Statement of Operations. The Purchaser
        shall also make available any comparable interim statements to the extent
        any
        such statements have been prepared by the seller in a format intended or
        otherwise suitable for the public at large. The Seller, if it has not already
        done so, agrees to furnish promptly to the Purchaser copies of the statements
        specified above. The Seller shall also make available information on its
        servicing performance with respect to loans in its own portfolio and loans
        serviced for others (if any), including foreclosure and delinquency
        ratios.

      

      The
        Seller also agrees to allow access to a knowledgeable (as shall be determined
        by
        the Seller) financial or accounting officer for the purpose of answering
        questions asked by any prospective purchaser regarding recent developments
        affecting the Seller or the financial statements of the Seller.

      

      SECTION
        13.  Mandatory
        Delivery.
        The sale
        and delivery on each Closing Date of the related Mortgage Loans described
        on the
        respective Mortgage Loan Schedules is mandatory, it being specifically
        understood and agreed that each Mortgage Loan must be unique and identifiable
        on
        such related Closing Date and that an award of money damages would be
        insufficient to compensate the Purchaser for the losses and damages incurred
        by
        the Purchaser (including damages to prospective purchasers of the Mortgage
        Loans) in the event of the Seller's failure to deliver the Mortgage Loans
        on or
        before such related Closing Date. All rights and remedies of the Purchaser
        under
        this Agreement are distinct from, and cumulative with, any other rights or
        remedies under this Agreement or afforded by law or equity and all such rights
        and remedies may be exercised concurrently, independently or
        successively.

      

      SECTION
        14.  Notices.
        All
        demands, notices and communications hereunder shall be in writing and shall
        be
        deemed to have been duly given if mailed, by registered or certified mail,
        return receipt requested, or, if by other means, when received by the other
        party at the address shown on the first page hereof, or such other address
        as
        may hereafter be furnished to the other party by like notice. Any such demand,
        notice of communication hereunder shall be deemed to have been received on
        the
        date delivered to or received at the premises of the addressee (as evidenced,
        in
        the case of registered or certified mail, by the date noted on the return
        receipt).

      

      SECTION
        15.  Severability
        Clause.
        Any
        part, provision, representation or warranty of this Agreement which is
        prohibited or which is held to be void or unenforceable shall be ineffective
        to
        the extent of such prohibition or unenforceability without invalidating the
        remaining provisions hereof. Any part, provision, representation or warranty
        of
        this Agreement which is prohibited or unenforceable or is held to be void
        or
        unenforceable in any jurisdiction shall be ineffective, as to such jurisdiction,
        to the extent of such prohibition or unenforceability without invalidating
        the
        remaining provisions hereof, and any such prohibition or unenforceability
        in any
        jurisdiction as to any Mortgage Loan shall not invalidate or render
        unenforceable such provision in any other jurisdiction. To the extent permitted
        by applicable law, the parties hereto waive any provision of law which prohibits
        or renders void or unenforceable any provision hereof. If the invalidity
        of any
        part, provision, representation or warranty of this Agreement shall deprive
        any
        party of the economic benefit intended to be conferred by this Agreement,
        the
        parties shall negotiate, in good-faith, to develop a structure the economic
        effect of which is as close as possible to the economic effect of this Agreement
        without regard to such invalidity.

      

      SECTION
        16.  Counterparts.
        This
        Agreement may be executed simultaneously in any number of counterparts. Each
        counterpart shall be deemed to be an original, and all such counterparts
        shall
        constitute one and the same instrument.

      

      SECTION
        17.  Place
        of Delivery and Governing Law.
        This
        Agreement shall be deemed in effect when a fully executed counterpart thereof
        is
        received by the Purchaser in the State of New York and shall be deemed to
        have
        been made in State of New York. The Agreement shall be construed in accordance
        with the laws of the State of New York and the obligations, rights and remedies
        of the parties hereunder shall be determined in accordance with the laws
        of the
        State of New York, except to the extent preempted by Federal Law.

      

      Each
        of
        the Seller and the Purchaser hereby knowingly, voluntarily and intentionally
        waives any and all rights it may have to a trial by jury in respect of any
        litigation based on, or arising out of, under, or in connection with, this
        Agreement, or any other documents and instruments executed in connection
        herewith, or any course of conduct, course of dealing, statements (whether
        oral
        or written), or actions of the Seller or the Purchaser. This provision is
        a
        material inducement for the Purchaser to enter into this Agreement.

      

      SECTION
        18.  Further
        Agreements.
        The
        Purchaser and the Seller each agree to execute and deliver to the other such
        additional documents, instruments or agreements as may be necessary or
        appropriate to effectuate the purposes of this Agreement.

      

      Without
        limiting the generality of the foregoing, the Seller shall reasonably cooperate
        with the Purchaser in connection with the initial resales of the Mortgage
        Loans
        by the Purchaser. In that connection, the Seller shall provide to the Purchaser:
        (i) any and all information and appropriate verification of information,
        whether
        through letters of its auditors and counsel or otherwise, as the Purchaser
        shall
        reasonably request, and (ii) such additional representations, warranties,
        covenants, opinions of counsel, letters from auditors and certificates of
        public
        officials or officers of the Seller as are reasonably believed necessary
        by the
        Purchaser in connection with such resales. The requirement of the Seller
        pursuant to (ii) above shall terminate on the related Closing Date, except
        as
        provided pursuant to Article IX of the Master Seller’s Warranties and Servicing
        Agreement. Prior to incurring any out-of-pocket expenses pursuant to this
        paragraph, the Seller shall notify the Purchaser in writing of the estimated
        amount of such expense. The Purchaser shall reimburse the Seller for any
        such
        expense following its receipt of appropriate details thereof.

      

      SECTION
        19.  Intention
        of the Parties.
        It is
        the intention of the parties that the Purchaser is purchasing, and the Seller
        is
        selling, an undivided 100% ownership interest in the Mortgage Loans and not
        a
        debt instrument of the Seller or another security. Accordingly, the parties
        hereto each intend to treat the transaction for Federal income tax purposes
        as a
        sale by the Seller, and a purchase by the Purchaser, of the Mortgage Loans.
        The
        Purchaser shall have the right to review the Mortgage Loans and the related
        Mortgage Loan Files to determine the characteristics of the Mortgage Loans
        which
        shall affect the Federal income tax consequences of owning the Mortgage Loans
        and the Seller shall cooperate with all reasonable requests made by the
        Purchaser in the course of such review.

      

      SECTION
        20.  Successors
        and Assigns; Assignment of Purchase Agreement.
        This
        Agreement shall bind and inure to the benefit of and be enforceable by the
        Seller and the Purchaser and the respective successors and assigns of the
        Seller
        and the Purchaser. This Agreement shall not be assigned, pledged or hypothecated
        by the Seller to a third party without the consent of the
        Purchaser.

      

      SECTION
        21. Waivers;
        Other Agreements.
        No term
        or provision of this Agreement may be waived or modified unless such waiver
        or
        modification is in writing and signed by the party against whom such waiver
        or
        modification is sought to be enforced.

      

      SECTION
        22. Exhibits.
        The
        exhibits to this Agreement are hereby incorporated and made a part hereof
        and
        are an integral part of this Agreement.

      

      SECTION
        23. General
        Interpretive Principles.
        For
        purposes of this Agreement, except as otherwise expressly provided or unless
        the
        context otherwise requires:

      

      a) the
        terms
        defined in this Agreement have the meanings assigned to them in this Agreement
        and include the plural as well as the singular, and the use of any gender
        herein
        shall be deemed to include the other gender;

      

      b) accounting
        terms not otherwise defined herein have the meanings assigned to them in
        accordance with generally accepted accounting principles;

      

      c) references
        herein to "Articles", "Sections", "Subsections", "Paragraphs", and other
        subdivisions without reference to a document are to designated Articles,
        Sections, Subsections, Paragraphs and other subdivisions of this
        Agreement;

      

      d) a
        reference to a Subsection without further reference to a Section is a reference
        to such Subsection as contained in the same Section in which the reference
        appears, and this rule shall also apply to Paragraphs and other
        subdivisions;

      

      e) the
        words
        "herein", "hereof", "hereunder" and other words of similar import refer to
        this
        Agreement as a whole and not to any particular provision; and

      

      f) the
        term
        "include" or "including" shall mean without limitation by reason of
        enumeration.

      

      SECTION
        24. Reproduction
        of Documents.
        This
        Agreement and all documents relating thereto, including, without limitation,
        (a)
        consents, waivers and modifications which may hereafter be executed, (b)
        documents received by any party at the closing, and (c) financial statements,
        certificates and other information previously or hereafter furnished, may
        be
        reproduced by any photographic, photostatic, microfilm, micro-card, miniature
        photographic or other similar process. The parties agree that any such
        reproduction shall be admissible in evidence as the original itself in any
        judicial or administrative proceeding, whether or not the original is in
        existence and whether or not such reproduction was made by a party in the
        regular course of business, and that any enlargement, facsimile or further
        reproduction of such reproduction shall likewise be admissible in
        evidence.

      [Signatures
        Follow]

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

      

      IN
        WITNESS WHEREOF, the Seller and the Purchaser have caused their names to
        be
        signed hereto by their respective officers thereunto duly authorized as of
        the
        date first above written.

       

      
        
          

            
              	
                       

                    	 	
                      
                        EMC
                          MORTGAGE CORPORATION

                        (Purchaser)   

                      

                    
	 	 	 	 	 
	 	 	 	 	 
	
                       

                    	 	 	
                      By:

                    	 
	
                       

                    	 	 	
                      Name:

                    	 
	
                       

                    	 	 	
                      Title:

                    	 

            

          

           

          
            
              

                
                  	
                           

                        	 	
                          
                            
                               

                            

                          

                        
	 	 	 	
                          WELLS
                            FARGO BANK, N.A.

                          (Seller)

                        
	 	 	 	 	 
	
                           

                        	 	 	
                          By:

                        	 
	
                           

                        	 	 	
                          Name:

                        	 
	
                           

                        	 	 	
                          Title:

                        	 

                

              

               

            

          

        

      

      

      

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              

            

          

        

      

      

      EXHIBIT
        1

       

      FORM
        OF
        OPINION OF COUNSEL

      

      @

      @

      @

      @

      

      Re: Mortgage
        Loan Sale by Wells Fargo Bank, N.A. (the “Company”) to EMC Mortgage Corporation
        (the “Purchaser”) of first lien mortgage loans (the “Mortgage Loans”) pursuant
        to that certain Amended and Restated Master Seller’s Warranties and Servicing
        Agreement and Amended and Restated Master Mortgage Loan Purchase Agreement
        by
        and between the Company and the Purchaser, dated as of November 1,
        2005.

      

      Dear
        Sir/Madam:

      

      I
        am @ of
        Wells Fargo Bank, N.A. and have acted as counsel to Wells Fargo Bank, N.A.
        (the
“Company”), with respect to certain matters in connection with the sale by the
        Company of Mortgage Loans pursuant to that certain Amended and Restated Master
        Seller’s Warranties and Servicing Agreement and Amended and Restated Master
        Mortgage Loan Purchase Agreement by and between the Company and EMC Mortgage
        Corporation (the “Purchaser”), dated as of November 1, 2005, (the “Agreements”),
        which sale is in the form of whole Mortgage Loans. Capitalized terms not
        otherwise defined herein have the meanings set forth in the Amended and Restated
        Master Seller’s Warranties and Servicing Agreement.

      

      I
        have
        examined the following documents:

      

      
        	
                1.

              	
                the
                  Amended and Restated Master Seller’s Warranties and Servicing
                  Agreement;

              

      

      

      
        	
                2.

              	
                the
                  Amended and Restated Master Mortgage Loan Purchase
                  Agreement;

              

      

      

      
        	
                3.

              	
                the
                  Custodial Agreement;

              

      

      

      
        	
                4.

              	
                the
                  form of endorsement of the Mortgage Notes;
                  and

              

      

      

      
        	
                5.

              	
                such
                  other documents, records and papers as I have deemed necessary
                  and
                  relevant as a basis for this
                  opinion.

              

      

      

      To
        the
        extent I have deemed necessary and proper, I have relied upon the
        representations and warranties of the Company contained in the Agreements.
        I
        have assumed the authenticity of all documents submitted to me as originals,
        the
        genuineness of all signatures, the legal capacity of natural persons and
        the
        conformity to the originals of all documents.

      

      Based
        upon the foregoing, it is my opinion that;

      

      
        	
                1.

              	
                The
                  Company is a national banking association duly organized, validly
                  existing
                  and in good standing under the laws of the United States.
                  

              

      

      

      
        	
                2.

              	
                The
                  Company has the power to engage in the transactions contemplated
                  by the
                  Agreements, the Custodial Agreement and all requisite power, authority
                  and
                  legal right to execute and deliver the Agreements, the Custodial
                  Agreement
                  and the Mortgage Loans, and to perform and observe the terms and
                  conditions of such instruments.

              

      

      

      
        	
                3.

              	
                Each
                  person who, as an officer or attorney-in-fact of the Company, signed
                  (a)
                  the Agreements, each dated as of November 1, 2005, by and between
                  the
                  Company and the Purchaser, and (b) any other document delivered
                  prior
                  hereto or on the date hereof in connection with the sale and servicing
                  of
                  the Mortgage Loans in accordance with the Agreements was, at the
                  respective times of such signing and delivery, and is, as of the
                  date
                  hereof, duly elected or appointed, qualified and acting as such
                  officer or
                  attorney-in-fact, and the signatures of such persons appearing
                  on such
                  documents are their genuine
                  signatures.

              

      

      

      
        	
                4.

              	
                Each
                  of the Agreements, the Custodial Agreement, and the Mortgage Loans,
                  has
                  been duly authorized, executed and delivered by the Company and
                  is a
                  legal, valid and binding agreement enforceable in accordance with
                  its
                  terms, subject to the effect of insolvency, liquidation, convervatorship
                  and other similar laws administered by the Federal Deposit Insurance
                  Corporation affecting the enforcement of contract obligations of
                  insured
                  banks and subject to the application of the rules of equity, including
                  those respecting the availability of specific performance, none
                  of which
                  will materially interfere with the realization of the benefits
                  provided
                  thereunder or with the Purchaser’s ownership of the Mortgage
                  Loans.

              

      

      

      
        	
                5.

              	
                The
                  Company has been duly authorized to allow any of its officers to
                  execute
                  any and all documents by original signature in order to complete
                  the
                  transactions contemplated by the Agreements and the Custodial Agreement,
                  and by original or facsimile signature in order to execute the
                  endorsements to the Mortgage Notes and the assignments of the Mortgages,
                  and the original or facsimile signature of the officer at the Company
                  executing the endorsements to the Mortgage Notes and the assignments
                  of
                  the Mortgages represents the legal and valid signature of said
                  officer of
                  the Company.

              

      

      

      
        	
                6.

              	
                Either
                  (i) no consent, approval, authorization or order of any court or
                  governmental agency or body is required for the execution, delivery
                  and
                  performance by the Company of or compliance by the Company with
                  the
                  Agreements, the Custodial Agreement or the sale and delivery of
                  the
                  Mortgage Loans or the consummation of the transactions contemplated
                  by the
                  Agreements, and the Custodial Agreement; or (ii) any required consent,
                  approval, authorization or order has been obtained by the Company.
                  

              

      

      

      
        	
                7.

              	
                Neither
                  the consummation of the transactions contemplated by, nor the fulfillment
                  of the terms of the Agreements and the Custodial Agreement, will
                  conflict
                  with or results in or will result in a breach of or constitutes
                  or will
                  constitute a default under the charter or by-laws of the Company,
                  the
                  terms of any indenture or other agreement or instrument to which
                  the
                  Company is a party or by which it is bound or to which it is subject,
                  or
                  violates any statute or order, rule, regulations, writ, injunction
                  or
                  decree of any court, governmental authority or regulatory body
                  to which
                  the Company is subject or by which it is
                  bound.

              

      

      

      
        	
                8.

              	
                There
                  is no action, suit, proceeding or investigation pending or, to
                  the best of
                  my knowledge, threatened against the Company which, in my opinion,
                  either
                  in any one instance or in the aggregate, may result in any material
                  adverse change in the business, operations, financial condition,
                  properties or assets of the Company or in any material impairment
                  of the
                  right or ability of the Company to carry on its business substantially
                  as
                  now conducted or in any material liability on the part of the Company
                  or
                  which would draw into question the validity of the Agreements,
                  and the
                  Custodial Agreement, or of any action taken or to be taken in connection
                  with the transactions contemplated thereby, or which would be likely
                  to
                  impair materially the ability of the Company to perform under the
                  terms of
                  the Agreements and the Custodial
                  Agreement.

              

      

      

      
        	
                9.

              	
                For
                  purposes of the foregoing, I have not regarded any legal or governmental
                  actions, investigations or proceedings to be "threatened" unless
                  the
                  potential litigant or governmental authority has manifested to
                  the legal
                  department of the Company or an employee of the Company responsible
                  for
                  the receipt of process a present intention to initiate such proceedings;
                  nor have I regarded any legal or governmental actions, investigations
                  or
                  proceedings as including those that are conducted by state or federal
                  authorities in connection with their routine regulatory activities.
                  The
                  sale of each Mortgage Note and Mortgage as and in the manner contemplated
                  by the Agreements is sufficient fully to transfer all right, title
                  and
                  interest of the Company thereto as noteholder and mortgagee, apart
                  from
                  the rights to service the Mortgage Loans pursuant to the
                  Agreements.

              

      

      

      
        	
                10.

              	
                The
                  form of endorsement that is to be used with respect to the Mortgage
                  Loans
                  is legally valid and sufficient to duly endorse the Mortgage Notes
                  to the
                  Purchaser. Upon the completion of the endorsement of the Mortgage
                  Notes
                  and the completion of the assignments of the Mortgages, and the
                  recording
                  thereof, the endorsement of the Mortgage Notes, the delivery to
                  the
                  Custodian of the completed assignments of the Mortgages, and the
                  delivery
                  of the original endorsed Mortgage Notes to the Custodian would
                  be
                  sufficient to permit the entity to which such Mortgage Note is
                  initially
                  endorsed at the Purchaser’s direction, and to whom such assignment of
                  Mortgages is initially assigned at the Purchaser’s direction, to avail
                  itself of all protection available under applicable law against
                  the claims
                  of any present or future creditors of the Company, and would be
                  sufficient
                  to prevent any other sale, transfer, assignment, pledge or hypothecation
                  of the Mortgages and the Mortgage Notes by the Company from being
                  enforceable.

              

      

      

      This
        opinion is given to you for your sole benefit, and no other person or entity
        is
        entitled to rely hereon except that the purchaser or purchasers to which
        you
        initially and directly resell the Mortgage Loans may rely on this opinion
        as if
        it were addressed to them as of its date.

      

      Sincerely,

      @

      @

      

      @/@

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      I

     

    ASSIGNMENT
      AGREEMENTS

    

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        Assignment, Assumption and Recognition Agreement (the “Agreement”) is made and
        entered into as of
        May 31,
        2006 (the “Closing Date”), among EMC Mortgage Corporation, having an address at
        Mac Arthur Ridge II, 909 Hidden Ridge Drive, Suite 200, Irving, Texas, 75038
        (the “Assignor”), U.S. Bank National Association, not individually but solely as
        Trustee for the holders of Bear Stearns ARM Trust, Mortgage Pass-Through
        Certificates, Series 2006-2, having an address at One Federal Street, 3rd
        Floor,
        Boston, MA 02110 (the “Assignee”) and Countrywide Home Loans Servicing LP,
        having an address at 7105 Corporate Drive, Plano, Texas 75024 (the
“Company”).

       

      WHEREAS,
        the Assignor has acquired certain mortgage loans set forth on Exhibit
        A
        (the
“Mortgage Loans”) from the Seller pursuant to that certain Seller’s Warranties
        and Servicing Agreement, dated as of September 1, 2002, as amended by Amendment
        No. 1, dated January 1, 2003, Amendment No.2, dated September 1, 2004 and
        Amendment Reg AB to the Master Mortgage Loan Purchase and Servicing Agreement,
        dated as of January 1, 2006, by and between the Assignor and Countrywide
        Home
        Loans, Inc. (the “SWS Agreement”); and

      

      WHEREAS,
        the Seller has assigned its rights and obligations under the SWS Agreement
        to
        the Company and the Company is currently servicing the Mortgage Loans for
        the
        benefit of the Assignor in accordance with the terms and conditions of the
        SWS
        Agreement.

      

      For
        and
        in consideration of the mutual promises and agreements contained herein,
        and
        other valuable consideration, the receipt and sufficiency of which hereby
        are
        acknowledged, and of the mutual covenants herein contained, the parties hereto
        hereby agree as follows:

      

      

      1. Defined
        terms used in this Agreement and not otherwise defined herein shall have
        the
        meaning set forth in the SWS Agreement.

       

      2. The
        Company recognizes the Assignor as owner of the Mortgage Loans and acknowledges
        that it is currently servicing the Mortgage Loans for the benefit of the
        Assignor. From and after the date hereof, the Company agrees that it will
        service the Mortgage Loans pursuant to the terms of the SWS Agreement (as
        modified herein) which terms are incorporated herein by reference.

       

      3. The
        Assignor hereby grants, transfers and assigns to the Assignee all of the
        right,
        title, interest and obligations of the Assignor, as purchaser, in, to and
        under
        (a) the Mortgage Loans and (b) the SWS Agreement with respect to the Mortgage
        Loans.

       

      4. The
        Assignor specifically reserves and does not assign to the Assignee hereunder
        any
        and all right, title and interest in, to and under any and all obligations
        of
        the Assignor with respect to any mortgage loans subject to the SWS Agreement
        which are not Mortgage Loans and are not the subject of this
        Agreement.

       

      5. The
        Assignor warrants and represents to, and covenants with, the Assignee that
        as of
        the date hereof:

       

      
        	 	
                (a)

              	
                Attached
                  hereto as Exhibit
                  B
                  is
                  a true and accurate copy of the servicing provisions of the SWS
                  Agreement
                  (Articles IV, V, and VI), which is in full force and effect as
                  of the date
                  hereof and the provisions of which have not been waived, amended
                  or
                  modified in any material respect, nor has any notice of termination
                  been
                  given thereunder;

              

      

       

      
        	 	
                (b)

              	
                The
                  Assignor is the lawful owner of the Mortgage Loans with full right
                  to
                  transfer the Mortgage Loans and any and all of its interests, rights
                  and
                  obligations under the SWS Agreement as they relate to the Mortgage
                  Loans,
                  free and clear from any and all claims and encumbrances; and upon
                  the
                  transfer of the Mortgage Loans to the Assignee as contemplated
                  herein, the
                  Assignee shall have good title to each and every Mortgage Loan,
                  as well as
                  any and all of the Assignor’s interests, rights and obligations under the
                  SWS Agreement, except as otherwise set forth herein, as they relate
                  to the
                  Mortgage Loans, free and clear of any and all liens, claims and
                  encumbrances;

              

      

       

      
        	 	
                (c)

              	
                There
                  are no known offsets, counterclaims or other defenses available
                  to the
                  Company with respect to the Mortgage Loans or the SWS
                  Agreement;

              

      

       

      
        	 	
                (d)

              	
                The
                  Assignor has no knowledge of, and has not received notice of, any
                  waivers
                  under, or any modification of, any Mortgage
                  Loan;

              

      

       

      
        	 	
                (e)

              	
                The
                  Assignor is duly organized, validly existing and in good standing
                  under
                  the laws of the jurisdiction of its incorporation, and has all
                  requisite
                  power and authority to acquire, own and sell the Mortgage
                  Loans;

              

      

       

      
        	 	
                (f)

              	
                The
                  Assignor has full corporate power and authority to execute, deliver
                  and
                  perform its obligations under this Agreement, and to consummate
                  the
                  transactions set forth herein. The consummation of the transactions
                  contemplated by this Agreement is in the ordinary course of the
                  Assignor’s
                  business and will not conflict with, or result in a breach of,
                  any of the
                  terms, conditions or provisions of the Assignor’s charter or by-laws or
                  any legal restriction, or any material agreement or instrument
                  to which
                  the Assignor is now a party or by which it is bound, or result
                  in the
                  violation of any law, rule, regulation, order, judgment or decree
                  to which
                  the Assignor or its property is subject. The execution, delivery
                  and
                  performance by the Assignor of this Agreement and the consummation
                  by it
                  of the transactions contemplated hereby, have been duly authorized
                  by all
                  necessary corporate action on the part of the Assignor. This Agreement
                  has
                  been duly executed and delivered by the Assignor and, upon the
                  due
                  authorization, execution and delivery by the Assignee and the Company,
                  will constitute the valid and legally binding obligation of the
                  Assignor
                  enforceable against the Assignor in accordance with its terms except
                  as
                  enforceability may be limited by bankruptcy, reorganization, insolvency,
                  moratorium or other similar laws now or hereafter in effect relating
                  to
                  creditors’ rights generally, and by general principles of equity
                  regardless of whether enforceability is considered in a proceeding
                  in
                  equity or at law;

              

      

       

      
        	 	
                (g)

              	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by the Assignor in connection with the execution, delivery
                  or
                  performance by the Assignor of this Agreement, or the consummation
                  by it
                  of the transactions contemplated hereby. Neither the Assignor nor
                  anyone
                  acting on its behalf has offered, transferred, pledged, sold or
                  otherwise
                  disposed of the Mortgage Loans or any interest in the Mortgage
                  Loans, or
                  solicited any offer to buy or accept a transfer, pledge or other
                  disposition of the Mortgage Loans, or any interest in the Mortgage
                  Loans
                  or otherwise approached or negotiated with respect to the Mortgage
                  Loans,
                  or any interest in the Mortgage Loans with any Person in any manner,
                  or
                  made any general solicitation by means of general advertising or
                  in any
                  other manner, or taken any other action which would constitute
                  a
                  distribution of the Mortgage Loans under the Securities Act of
                  1933, as
                  amended (the “1933 Act”)
                  or
                  which would render the disposition of the Mortgage Loans a violation
                  of
                  Section 5 of the 1933 Act or require registration pursuant thereto;
                  and

              

      

       

      
        	 	
                (h)

              	
                The
                  Assignor has received from the Company, and has delivered to the
                  Assignee,
                  all documents required to be delivered to the Assignor by the Company
                  prior to the date hereof pursuant to the SWS Agreement with respect
                  to the
                  Mortgage Loans and has not received, and has not requested from
                  the
                  Company, any additional documents.

              

      

       

      6. The
        Assignee warrants and represents to, and covenants with, the Assignor and
        the
        Company as of the date hereof:

       

      
        	 	
                (a)

              	
                The
                  Assignee is duly organized, validly existing and in good standing
                  under
                  the laws of the jurisdiction of its organization and has all requisite
                  power and authority to hold the Mortgage Loans as trustee on behalf
                  of the
                  holders of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates,
                  Series 2006-2;

              

      

       

      
        	 	
                (b)

              	
                The
                  Assignee has full corporate power and authority to execute and
                  deliver
                  this Agreement, and to consummate the transactions set forth herein.
                  The
                  consummation of the transactions contemplated by this Agreement
                  is in the
                  ordinary course of the Assignee’s business and will not conflict with, or
                  result in a breach of, any of the terms, conditions or provisions
                  of the
                  Assignee’s charter or by-laws or any legal restriction, or any material
                  agreement or instrument to which the Assignee is now a party or
                  by which
                  it is bound, or result in the violation of any law, rule, regulation,
                  order, judgment or decree to which the Assignee or its property
                  is
                  subject. The execution, delivery and performance by the Assignee
                  of this
                  Agreement and the consummation by it of the transactions contemplated
                  hereby, have been duly authorized by all necessary corporate action
                  on the
                  part of the Assignee. This Agreement has been duly executed and
                  delivered
                  by the Assignee and, upon the due authorization, execution and
                  delivery by
                  the Assignor and the Company, will constitute the valid and legally
                  binding obligation of the Assignee enforceable against the Assignee
                  in
                  accordance with its terms except as enforceability may be limited
                  by
                  bankruptcy, reorganization, insolvency, moratorium or other similar
                  laws
                  now or hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	 	
                (c)

              	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by the Assignee in connection with the execution, delivery
                  or
                  performance by the Assignee of this Agreement, or the consummation
                  by it
                  of the transactions contemplated hereby;
                  and

              

      

       

      
        	 	
                (d)

              	
                The
                  Assignee assumes for the benefit of each of the Assignor and the
                  Company
                  all of the Assignor’s rights and obligations as “Purchaser” thereunder but
                  solely with respect to such Mortgage Loans; provided however, that
                  the
                  Assignee is assuming such obligations solely in its capacity as
                  trustee
                  for Bear Stearns ARM Trust, Mortgage Pass-Through Certificates,
                  Series
                  2006-2 and not individually, and any recourse against the Assignee
                  in
                  respect of such obligations shall be limited solely to the assets
                  it may
                  hold as trustee of Bear Stearns ARM Trust, Mortgage Pass-Through
                  Certificates, Series 2006-2.

              

      

       

      7. The
        Company warrants and represents to, and covenants with, the Assignor and
        the
        Assignee as of the date hereof:

       

      
        	 	
                (a)

              	
                The
                  SWS Agreement is in full force and effect as of the date hereof
                  and the
                  provisions of which have not been waived, amended or modified in
                  any
                  material respect, except as contemplated herein, nor has any notice
                  of
                  termination been given thereunder;

              

      

       

      
        	 	
                (b)

              	
                The
                  Company is duly organized, validly existing and in good standing
                  under the
                  laws of the jurisdiction of its formation, and has all requisite
                  power and
                  authority to service the Mortgage Loans and otherwise to perform
                  its
                  obligations under the SWS
                  Agreement;

              

      

       

      
        	 	
                (c)

              	
                The
                  Company has full power and authority to execute, deliver and perform
                  its
                  obligations under this Agreement, and to consummate the transactions
                  set
                  forth herein. The consummation of the transactions contemplated
                  by this
                  Agreement is in the ordinary course of the Company’s business and will not
                  conflict with, or result in a breach of, any of the terms, conditions
                  or
                  provisions of the Company’s formation documents or any legal restriction,
                  or any material agreement or instrument to which the Company is
                  now a
                  party or by which it is bound, or result in the violation of any
                  law,
                  rule, regulation, order, judgment or decree to which the Company
                  or its
                  property is subject. The execution, delivery and performance by
                  the
                  Company of this Agreement and the consummation by it of the transactions
                  contemplated hereby, have been duly authorized by all necessary
                  action on
                  the part of the Company. This Agreement has been duly executed
                  and
                  delivered by the Company, and, upon the due authorization, execution
                  and
                  delivery by the Assignor and the Assignee, will constitute the
                  valid and
                  legally binding obligation of the Company, enforceable against
                  the Company
                  in accordance with its terms except as enforceability may be limited
                  by
                  bankruptcy, reorganization, insolvency, moratorium or other similar
                  laws
                  now or hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	 	
                (d)

              	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by the Company in connection with the execution, delivery
                  or
                  performance by the Company of this Agreement, or the consummation
                  by it of
                  the transactions contemplated
                  hereby;

              

      

       

      
        	 	
                (e)

              	
                The
                  Company shall establish a Custodial Account and an Escrow Account
                  under
                  the SWS Agreement in favor of the Assignee with respect to the
                  Mortgage
                  Loans separate from the Custodial Account and Escrow Account previously
                  established in favor of the Assignor;
                  and

              

      

       

      8. The
        Company hereby restates the representations and warranties set forth in Section
        2(b) of the Amendment Reg AB as of the date hereof.

       

      Each
        such
        notice/update should be sent to the Assignor by e-mail to
        regABnotifications@bear.com. Additionally, all such notifications, other
        than
        those pursuant to (i)(b)(2) above, should be sent to:

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      With
        a
        copy to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

       

      Notifications
        pursuant to (i)(b)(2) above should be sent to: 

       

      EMC
        Mortgage Corporation

      Two
        Mac
        Arthur Ridge

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        TX 75038

      Attention:
        Associate General Counsel for Loan Administration

      Facsimile:
        (972) 831-2555

       

      With
        copies to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      9. The
        Assignor hereby agrees to indemnify and hold the Assignee (and its successors
        and assigns) harmless against any and all claims, losses, penalties, fines,
        forfeitures, legal fees and related costs, judgments, and any other costs,
        fees
        and expenses that the Assignee (and its successors and assigns) may sustain
        in
        any way related to any breach of the representations or warranties of the
        Assignor set forth in this Agreement or the breach of any covenant or condition
        contained herein.

       

      Recognition
        of the
        Assignee

       

      10. From
        and
        after the date hereof, the Company shall recognize the Assignee as owner
        of the
        Mortgage Loans, and acknowledges that the Mortgage Loans will be part of
        a
        REMIC, and will service the Mortgage Loans in accordance with the SWS Agreement.
        It is the intention of the Assignor, the Company and the Assignee that this
        Agreement shall be binding upon and for the benefit of the respective permitted
        successors and assigns of the parties hereto. Neither the Company nor the
        Assignor shall amend or agree to amend, modify, waive, or otherwise alter
        any of
        the terms or provisions of the SWS Agreement which amendment, modification,
        waiver or other alteration would in any way affect the Mortgage Loans without
        the prior written consent of the Assignee, which shall not be unreasonably
        withheld.

       

      11. Notwithstanding
        any term hereof to the contrary, the execution and delivery of this Agreement
        by
        the Assignee is solely in its capacity as trustee for Bear Stearns ARM Trust,
        Mortgage Pass-Through Certificates, Series 2006-2 and not individually, and
        any
        recourse against the Assignee in respect of any obligations it may have under
        or
        pursuant to the terms of this Agreement shall be limited solely to the assets
        it
        may hold as trustee of Bear Stearns ARM Trust, Mortgage Pass-Through
        Certificates, Series 2006-2.

       

      Modification
        of the SWS Agreement:

       

      12. The
        Company and the Assignor hereby amend the SWS Agreement as follows:

       

      (a) Section
        6.04, 6.05 and 6.07 and clause (x) of Section 10.01, all as added by Amendment
        No. 2 to the Servicing Agreement are deleted in their entirety.

       

      (b) Exhibit
        F to the SWS Agreement is hereby deleted in its entirety and replaced with
        the
        reporting exhibits attached hereto as Exhibit
        D
        in
        formats mutually agreeable to the Company and the Master Servicer.
        Notwithstanding the foregoing, the Company is not required to report data
        relating to prepayment charges or penalties. 

       

      13. The
        Company hereby acknowledges that Wells Fargo Bank, National Association (the
        “Master Servicer”) has been appointed as the master servicer of the Mortgage
        Loans pursuant to the pooling and servicing agreement for the Bear Stearns
        ARM Trust, Mortgage Pass-Through Certificates, Series 2006-2, and therefore
        has
        the right to enforce on behalf of the Assignee all obligations of the
        Company under the SWS Agreement.  Such right will include, without
        limitation, the right to terminate the Servicer under the SWS Agreement upon
        the
        occurrence of an event of default thereunder, the right to receive all
        remittances required to be made by the Company under the SWS Agreement, the
        right to receive all monthly reports and other data required to be delivered
        by
        the Company under the SWS Agreement, the right to examine the books and records
        of the Company and the right to exercise certain rights of consent and approval
        relating to actions taken by the Company. Notwithstanding the foregoing,
        it is
        understood that the Company shall not be obligated to defend and indemnify
        and
        hold harmless the Master Servicer, the Assignor and the Assignee against
        any
        losses, damages, penalties, fines, forfeiture, judgments and any related
        costs
        including, without limitation, reasonable and necessary legal fees, resulting
        from (i) actions or inactions of the Company which were taken or omitted
        upon
        the instruction or direction of the Master Servicer or Assignee, as applicable,
        or (ii) the failure of the Master Servicer or the Assignee, as applicable,
        to
        perform the obligations of the servicing provisions of the SWS
        Agreement.

       

      The
        Company shall make all distributions under the SWS Agreement to the Master
        Servicer by wire transfer of immediately available funds to:

       

      Wells
        Fargo Bank,
        National Association

      ABA
        #
        121000248

      Account
        Name: SAS Clearing

      Account
        #
        3970771416

      For
        Further Credit to: BSARM 2006-2, Account # 50920200

      

      and
        the Company shall deliver all reports required to be delivered under the
        SWS
Agreement
        to the Assignee at the address set forth in Section 12 herein and to the
        Master
        Servicer at:

       

      
        	 	 	
                Wells
                  Fargo Bank, National Association 

              

      

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-2

      Telecopy
        No.: (410) 715-2380

       

      

       

      14. Notices:

       

      The
        Assignor’s address for purposes of all notices and correspondence related to the
        Mortgage Loans and this Agreement is:

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067

      Attention:
        President or General Counsel

       

      The
        Assignee’s address for purposes of all notices and correspondence related to the
        Mortgage Loans and this Agreement is:

       

      U.S.
        Bank National Association,

      as
        Trustee

      One
        Federal Street, 3rd Floor

      Boston,
        Massachusetts 02210

      Attention:
        Corporate Trust Services, BSARM 2006-2

      Telecopier
        No.: (617) 603-6638

      

      The
        Company’s address for purposes of all notices and correspondence related to the
        Mortgage Loans and this Agreement is:

       

      Countrywide
        Home Loans Servicing LP

      400
        Countrywide Way

      Simi
        Valley, California 93065

      Attention:
        Lupe Montero

       

      Miscellaneous:

       

      15. Each
        party will pay any commissions it has incurred and the Assignor shall pay
        the
        fees of its attorneys and the reasonable fees of the attorneys of the Assignee
        and the Company in connection with the negotiations for, documenting of and
        closing of the transactions contemplated by this Agreement.

       

      16. This
        Agreement shall be construed in accordance with the laws of the State of
        New
        York, without regard to conflicts of law principles, and the obligations,
        rights
        and remedies of the parties hereunder shall be determined in accordance with
        such laws.

       

      17. No
        term
        or provision of this Agreement may be waived or modified unless such waiver
        or
        modification is in writing and signed by the party against whom such waiver
        or
        modification is sought to be enforced.

       

      18. This
        Agreement shall inure to the benefit of the permitted successors and assigns
        of
        the parties hereto. Any entity into which the Assignor, the Assignee, or
        the
        Company may be merged or consolidated shall, without the requirement for
        any
        further writing, be deemed the Assignor, the Assignee, or the Company,
        respectively, hereunder.

       

      19. This
        Agreement shall survive the conveyance of the Mortgage Loans, the assignment
        of
        the SWS Agreement to the extent of the Mortgage Loans by the Assignor to
        the
        Assignee and the termination of the SWS Agreement.

       

      20. This
        Agreement may be executed simultaneously in any number of counterparts. Each
        counterpart shall be deemed to be an original and all such counterparts shall
        constitute one and the same instrument.

       

      21. In
        the
        event that any provision of this Agreement conflicts with any provision of
        the
        SWS Agreement with respect to the Mortgage Loans, the terms of this Agreement
        shall control.

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

      IN
        WITNESS WHEREOF, the parties have caused this Agreement to be executed by
        their
        duly authorized officers as of the date first above written.

       

      U.S.
        BANK NATIONAL ASSOCIATION,
        not
        individually but solely as trustee for the holders of Bear Stearns ARM Trust,
        Mortgage Pass-Through Certificates, Series 2006-2

       

      By:__________________________________      

      Name:
        

      Title:
        

      

      

      EMC
        MORTGAGE CORPORATION

       

      By:___________________________________      

      Name:
        

      Title
        

      

      COUNTRYWIDE
        HOME LOANS SERVICING LP

       

      By:
        Countrywide GP, Inc., its General Partner

       

      By:___________________________________      

      Name:

      Title:

      

       

      Acknowledged
        and Agreed

       

      
        	
                WELLS
                  FARGO BANK, 

                NATIONAL
                  ASSOCIATION

              	 
	
                By:     

              	 
	
                Name:    

              	 
	
                Title:   

              	 
	 	 

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
            

          

        

      Exhibit
        A

       

      Mortgage
        Loans

       

      [Provided
        Upon Request]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      Exhibit
        B

       

      Articles
        IV, V, and VI of the SWS Agreement.

       

      [Provided
        Upon Request]

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      Exhibit
        C

       

      AFFILIATION
        DISCLOSURE

       

      (Pursuant
        to Item 1119 of Regulation AB)

       

      1. Sponsor
        and any affiliate, including but not limited to:

       

      a.
        EMC
        Mortgage Corporation

       

      b.
        Bear,
        Stearns & Co. Inc.

       

      c.
        Bear,
        Stearns Securities Corp.

       

      d.
        Bear
        Stearns Structured Products

       

      e.
        Bear,
        Stearns International Limited

       

      2. Depositor
        and any affiliate, including but not limited to:

       

      a.
        Bear
        Stearns Asset Backed Securities I LLC

       

      b.
        Structured Asset Mortgage Investments II Inc.

       

      3. Bear
        Stearns ARM Trust 2006-2 and any affiliate

       

      4. U.S.
        Bank
        National Association, as Trustee, and any affiliate

       

      5. Significant
        obligor and any affiliate -
        [None]

       

      6. Enhancement
        or support provider and any affiliate - [None]

       

      7. 1100(d)(1)
        parties - any named party in the Securitization Transaction:

       

      a.
        Cap Contract Provider: [None]

       

      b.
        Underwriter: Bear, Stearns & Co. Inc.

       

      c.
        Servicers: [EMC Mortgage Corporation; GMAC; Bank of America; Wells Fargo
        Bank,
        N.A.]

       

      d.
        Master
        Servicer: Wells Fargo Bank, National Association

       

      e.
        Unaffiliated Servicer of 20%: [EMC
        Mortgage Corporation, Wells Fargo, GMAC, Bank of America]

       

      f.
        Originator of 10%: [Bank of America]

       

      g.
        Securities Administrator: Wells Fargo Bank, National Association

       

      h.
        Custodian: Wells Fargo Bank, National Association

       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      EXHIBIT
        D

       

      
        	
                Standard
                  File Layout - Master Servicing 

              	 	 	 
	
                Column
                  Name

              	
                Description

              	
                Decimal

              	
                Format
                  Comment

              	
                Max
                  Size

              
	
                SER_INVESTOR_NBR

              	
                A
                  value assigned by the Servicer to define a group of loans.

              	
                 

              	
                Text
                  up to 10 digits

              	
                20

              
	
                LOAN_NBR

              	
                A
                  unique identifier assigned to each loan by the investor.

              	
                 

              	
                Text
                  up to 10 digits

              	
                10

              
	
                SERVICER_LOAN_NBR

              	
                A
                  unique number assigned to a loan by the Servicer. This may be different
                  than the LOAN_NBR.

              	
                 

              	
                Text
                  up to 10 digits

              	
                10

              
	
                BORROWER_NAME

              	
                The
                  borrower name as received in the file. It is not separated by first
                  and
                  last name.

              	
                 

              	
                Maximum
                  length of 30 (Last, First)

              	
                30

              
	
                SCHED_PAY_AMT

              	
                Scheduled
                  monthly principal and scheduled interest payment that a borrower
                  is
                  expected to pay, P&I constant.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NOTE_INT_RATE

              	
                The
                  loan interest rate as reported by the Servicer.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                NET_INT_RATE

              	
                The
                  loan gross interest rate less the service fee rate as reported
                  by the
                  Servicer.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                SERV_FEE_RATE

              	
                The
                  servicer's fee rate for a loan as reported by the Servicer.
                  

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                SERV_FEE_AMT

              	
                The
                  servicer's fee amount for a loan as reported by the Servicer.
                  

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NEW_PAY_AMT

              	
                The
                  new loan payment amount as reported by the Servicer. 

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NEW_LOAN_RATE

              	
                The
                  new loan rate as reported by the Servicer. 

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                ARM_INDEX_RATE

              	
                The
                  index the Servicer is using to calculate a forecasted
                  rate.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                ACTL_BEG_PRIN_BAL

              	
                The
                  borrower's actual principal balance at the beginning of the processing
                  cycle.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                ACTL_END_PRIN_BAL

              	
                The
                  borrower's actual principal balance at the end of the processing
                  cycle.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                BORR_NEXT_PAY_DUE_DATE

              	
                The
                  date at the end of processing cycle that the borrower's next payment
                  is
                  due to the Servicer, as reported by Servicer.

              	
                 

              	
                MM/DD/YYYY

              	
                10

              
	
                SERV_CURT_AMT_1

              	
                The
                  first curtailment amount to be applied.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_DATE_1

              	
                The
                  curtailment date associated with the first curtailment amount.
                  

              	
                 

              	
                MM/DD/YYYY

              	
                10

              
	
                CURT_ADJ_
                  AMT_1

              	
                The
                  curtailment interest on the first curtailment amount, if
                  applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_AMT_2

              	
                The
                  second curtailment amount to be applied.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_DATE_2

              	
                The
                  curtailment date associated with the second curtailment
                  amount.

              	
                 

              	
                MM/DD/YYYY

              	
                10

              
	
                CURT_ADJ_
                  AMT_2

              	
                The
                  curtailment interest on the second curtailment amount, if
                  applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_AMT_3

              	
                The
                  third curtailment amount to be applied.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_DATE_3

              	
                The
                  curtailment date associated with the third curtailment
                  amount.

              	
                 

              	
                MM/DD/YYYY

              	
                10

              
	
                CURT_ADJ_AMT_3

              	
                The
                  curtailment interest on the third curtailment amount, if
                  applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PIF_AMT

              	
                The
                  loan "paid in full" amount as reported by the Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PIF_DATE

              	
                The
                  paid in full date as reported by the Servicer.

              	
                 

              	
                MM/DD/YYYY

              	
                10

              
	
                 

              	
                 

              	
                 

              	
                Action
                  Code Key: 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution,
                  65=Repurchase,70=REO 

              	
                2

              
	
                ACTION_CODE

              	
                The
                  standard FNMA numeric code used to indicate the default/delinquent
                  status
                  of a particular loan.

              
	
                INT_ADJ_AMT

              	
                The
                  amount of the interest adjustment as reported by the
                  Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SOLDIER_SAILOR_ADJ_AMT

              	
                The
                  Soldier and Sailor Adjustment amount, if applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NON_ADV_LOAN_AMT

              	
                The
                  Non Recoverable Loan Amount, if applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                LOAN_LOSS_AMT

              	
                The
                  amount the Servicer is passing as a loss, if applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_BEG_PRIN_BAL

              	
                The
                  scheduled outstanding principal amount due at the beginning of
                  the cycle
                  date to be passed through to investors.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_END_PRIN_BAL

              	
                The
                  scheduled principal balance due to investors at the end of a processing
                  cycle.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_PRIN_AMT

              	
                The
                  scheduled principal amount as reported by the Servicer for the
                  current
                  cycle -- only applicable for Scheduled/Scheduled Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_NET_INT

              	
                The
                  scheduled gross interest amount less the service fee amount for
                  the
                  current cycle as reported by the Servicer -- only applicable for
                  Scheduled/Scheduled Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                ACTL_PRIN_AMT

              	
                The
                  actual principal amount collected by the Servicer for the current
                  reporting cycle -- only applicable for Actual/Actual
                  Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                ACTL_NET_INT

              	
                The
                  actual gross interest amount less the service fee amount for the
                  current
                  reporting cycle as reported by the Servicer -- only applicable
                  for
                  Actual/Actual Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PREPAY_PENALTY_
                  AMT

              	
                The
                  penalty amount received when a borrower prepays on his loan as
                  reported by
                  the Servicer. 

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PREPAY_PENALTY_
                  WAIVED

              	
                The
                  prepayment penalty amount for the loan waived by the
                  servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                 

              	
                 

              	
                 

              	
                 

              	
                 

              
	
                MOD_DATE

              	
                The
                  Effective Payment Date of the Modification for the loan.

              	
                 

              	
                MM/DD/YYYY

              	
                10

              
	
                MOD_TYPE

              	
                The
                  Modification Type.

              	
                 

              	
                Varchar
                  - value can be alpha or numeric

              	
                30

              
	
                DELINQ_P&I_ADVANCE_AMT

              	
                The
                  current outstanding principal and interest advances made by
                  Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              

      

      

       

      

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      REPORTING
        DATA FOR DEFAULTED LOANS 

       

      Data
        must be submitted to Wells Fargo Bank, N.A. in an Excel
        spreadsheet format with fixed field names and data type. The Excel
        spreadsheet should be used as a template consistently every month when
        submitting data.

      

      
        	 	 	 
	
                Table:
                  Delinquency 

              	 	 
	
                Name
                  

              	
                Type
                  

              	
                Size
                  

              
	
                Servicer
                  Loan # 

              	
                Number
                  

              	
                8
                  

              
	 	
                (Double)
                  

              	 
	
                Investor
                  Loan # 

              	
                Number
                  

              	
                8
                  

              
	 	
                (Double)
                  

              	 
	
                Borrower
                  Name 

              	
                Text
                  

              	
                20
                  

              
	
                Address
                  

              	
                Text
                  

              	
                30
                  

              
	
                State
                  

              	
                Text
                  

              	
                2
                  

              
	
                Due
                  Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Action
                  Code 

              	
                Text
                  

              	
                2
                  

              
	
                FC
                  Received 

              	
                Date/Time
                  

              	
                8
                  

              
	
                File
                  Referred to Atty 

              	
                Date/Time
                  

              	
                8
                  

              
	
                NOD
                  

              	
                Date/Time
                  

              	
                8
                  

              
	
                Complaint
                  Filed 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Sale
                  Published 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Target
                  Sale Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Actual
                  Sale Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Loss
                  Mit Approval Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Loss
                  Mit Type 

              	
                Text
                  

              	
                5
                  

              
	
                Loss
                  Mit Estimated Completion 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Date
                  

              	 	 
	
                Loss
                  Mit Actual Completion Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Loss
                  Mit Broken Plan Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                BK
                  Chapter 

              	
                Text
                  

              	
                6
                  

              
	
                BK
                  Filed Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Post
                  Petition Due 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Motion
                  for Relief 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Lift
                  of Stay 

              	
                Date/Time
                  

              	
                8
                  

              
	
                RFD
                  

              	
                Text
                  

              	
                10
                  

              
	
                Occupant
                  Code 

              	
                Text
                  

              	
                10
                  

              
	
                Eviction
                  Start Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Eviction
                  Completed Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                List
                  Price 

              	
                Currency
                  

              	
                8
                  

              
	
                List
                  Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Accepted
                  Offer Price 

              	
                Currency
                  

              	
                8
                  

              
	
                Accepted
                  Offer Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Estimated
                  REO Closing Date 

              	
                Date/Time
                  

              	
                8
                  

              
	
                Actual
                  REO Sale Date

              	
                Date/Time

              	
                8

              

      

      

      • Items
        in bold are MANDATORY FIELDS. We must receive information in those fields
        every
        month in order for your file to be accepted.
        

       

      The
        Action Code Field should show the applicable numeric code to indicate that
        a
        special action is being taken. The Action Codes are the following: 

       

      12-Relief
        Provisions 

       

      15-Bankruptcy/Litigation
        

       

      20-Referred
        for Deed-in-Lieu 

       

      30-Referred
        fore Foreclosure 

       

      60-Payoff
        

       

      65-Repurchase
        

       

      70-REO-Held
        for Sale 

       

      71-Third
        Party Sale/Condemnation 

       

      72-REO-Pending
        Conveyance-Pool Insurance claim filed 

       

      

       

      Wells
        Fargo Bank will accept alternative Action Codes to those above, provided
        that
        the Codes are consistent with industry standards. If Action Codes other than
        those above are used, the Servicer must supply Wells Fargo Bank with a
        description of each of the Action Codes prior to sending the file. 

       

      Description
        of Action Codes: 

       

      Action
        Code 12
        - To
        report a Mortgage Loan for which the Borrower has been granted relief for
        curing
        a delinquency. The Action Date is the date the relief is expected to end.
        For
        military indulgence, it will be three months after the Borrower’s discharge from
        military service. 

       

      Action
        Code 15
        - To
        report the Borrower’s filing for bankruptcy or instituting some other type of
        litigation that will prevent or delay liquidation of the Mortgage Loan. The
        Action Date will be either the date that any repayment plan (or forbearance)
        instituted by the bankruptcy court will expire or an additional date by which
        the litigation should be resolved. 

       

      Action
        Code 20
        - To
        report that the Borrower has agreed to a deed-in-lieu or an assignment of
        the
        property. The Action Date is the date the Servicer decided to pursue a
        deed-in-lieu or the assignment. 

       

      Action
        Code 30
        - To
        report that the decision has been made to foreclose the Mortgage Loan. The
        Action Date is the date the Servicer referred the case to the foreclosure
        attorney.

      

      Action
        Code 60
        - To
        report that a Mortgage Loan has been paid in full either at, or prior to,
        maturity. The Action Date is the date the pay-off funds were remitted to
        the
        Master Servicer. 

       

      Action
        Code 65
        - To
        report that the Servicer is repurchasing the Mortgage Loan. The Action Date
        is
        the date the repurchase proceeds were remitted to the Master Servicer.

       

      Action
        Code 70
        - To
        report that a Mortgage Loan has been foreclosed or a deed-in-lieu of foreclosure
        has been accepted, and the Servicer, on behalf of the owner of the Mortgage
        Loan, has acquired the property and may dispose of it. The Action Date is
        the
        date of the foreclosure sale or, for deeds-in-lieu, the date the deed is
        recorded on behalf of the owner of the Mortgage Loan. 

       

      Action
        Code 71
        - To
        report that a Mortgage Loan has been foreclosed and a third party acquired
        the
        property, or a total condemnation of the property has occurred. The Action
        Date
        is the date of the foreclosure sale or the date the condemnation award was
        received. 

       

      Action
        Code 72
        - To
        report that a Mortgage Loan has been foreclosed, or a deed-in-lieu has been
        accepted, and
        the property may be conveyed to the mortgage insurer and the pool insurance
        claim has been filed. The Action Date is the date of the foreclosure sale,
        or,
        for deeds-in-lieu, the date of the deed for conventional mortgages.

       

      The
        Loss Mit Type field should show the approved Loss Mitigation arrangement.
        The
        following are acceptable: 

       

      ASUM-Approved
        Assumption 

       

      BAP-Borrower
        Assistance Program 

       

      CO-Charge
        Off 

       

      DIL-Deed-in-Lieu
        

       

      FFA-Formal
        Forbearance Agreement 

       

      MOD-Loan
        Modification 

       

      PRE-Pre-Sale
        

       

      SS-Short
        Sale 

       

      MISC-Anything
        else approved by the PMI or Pool Insurer 

       

      Wells
        Fargo Bank will accept alternative Loss Mitigation Types to those above,
        provided that they are consistent with industry standards. If Loss Mitigation
        Types other than those above are used, the Servicer must supply Wells Fargo
        Bank
        with a description of each of the Loss Mitigation Types prior to sending
        the
        file.

       

      The
        Occupant Code field should show the current status of the property. The
        acceptable codes are: 

       

      Mortgagor
        

      Tenant
        

      Unknown
        

      Vacant
        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      

      REALIZED
        LOSS CALCULATION INFORMATION WELLS
        FARGO BANK, N.A. Form 332

       

      

      Calculation
        of Realized Loss 

       

      Purpose
        

       

      To
        provide the Servicer with a form for the calculation of any Realized Loss
        (or
        gain) as a result of a Mortgage Loan having been foreclosed and Liquidated.
        

       

      Distribution
        

       

      The
        Servicer will prepare the form in duplicate and send the original together
        with
        evidence of conveyance of title and appropriate supporting documentation
        to the
        Master Servicer with the Monthly Accounting Reports which supports the Mortgage
        Loan’s removal from the Mortgage Loan Activity Report. The Servicer will retain
        the duplicate for its own records. 

       

      Due
        Date 

       

      With
        respect to any liquidated Mortgage Loan, the form will be submitted to the
        Master Servicer no later than the date on which statements are due to the
        Master
        Servicer under Section 4.02 of this Agreement (the “Statement Date”) in the
        month following receipt of final liquidation proceeds and supporting
        documentation relating to such liquidated Mortgage Loan; provided, that if
        such
        Statement Date is not at least 30 days after receipt of final liquidation
        proceeds and supporting documentation relating to such liquidated Mortgage
        Loan,
        then the form will be submitted on the first Statement Date occurring after
        the
        30th
        day
        following receipt of final liquidation proceeds and supporting documentation.
        

       

      Preparation
        Instructions 

       

      The
        numbers on the form correspond with the numbers listed below. 

       

      1. The
        actual Unpaid Principal Balance of the Mortgage Loan. 

      2. The
        Total Interest Due less the aggregate amount of servicing fee that would
        have
        been earned if all delinquent payments had been made as agreed. 

      

      
        	
                3-7.
                  

              	
                Complete
                  as necessary. All line entries must be supported by copies of appropriate
                  statements, 

              

      

      vouchers,
        receipts, canceled checks, etc., to document the expense. Entries not properly
        

      documented
        will not be reimbursed to the Servicer. 

       

      
        	
                8.
                  

              	
                Accrued
                  Servicing Fees based upon the Scheduled Principal Balance of the
                  Mortgage
                  Loan as calculated on a monthly basis.

              

      

      
        	
                10.
                  

              	
                The
                  total of lines 1 through 9. 

              

      

       

      Credits
        

       

      
        	
                11-17.
                  

              	
                Complete
                  as necessary. All line entries must be supported by copies of the
                  appropriate claims forms, statements, payment checks, etc. to document
                  the
                  credit. If the Mortgage Loan is subject to a Bankruptcy Deficiency,
                  the
                  difference between the Unpaid Principal Balance of the Note prior
                  to the
                  Bankruptcy Deficiency and the Unpaid Principal Balance as reduced
                  by the
                  Bankruptcy Deficiency should be input on line 16.
                  

              

      

       

      
        	
                18.

              	
                The
                  total of lines 11 through 17. 

              

      

       

      Total
        Realized Loss (or Amount of Any Gain) 

       

      
        	
                19.
                  

              	
                The
                  total derived from subtracting line 18 from 10. If the amount represents
                  a
                  realized gain, show the amount in parenthesis ( ).
                  

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      WELLS
        FARGO BANK, N.A. 

       

      CALCULATION
        OF REALIZED LOSS

       

      

       

      WELLS
        FARGO BANK, N.A. Trust: ___________________________

       

      Prepared
        by: __________________ Date: _______________ 

       

      Phone:
        ______________________ 

       

      Servicer
        Loan No.   Servicer
        Name  Servicer
        Address 

       

      WELLS
        FARGO BANK, N.A. 

      Loan
        No._____________________________ 

      Borrower’s
        Name:________________________________________________________ 

      Property

      Address:________________________________________________________________
        

      

      
        	
                Liquidation
                  and Acquisition Expenses: 

              	 
	
                Actual
                  Unpaid Principal Balance of Mortgage Loan 

              	
                $
                  _______________(1) 

              
	
                Interest
                  accrued at Net Rate 

              	
                ________________(2)
                  

              
	
                Attorney’s
                  Fees 

              	
                ________________(3)
                  

              
	
                Taxes
                  

              	
                ________________(4)
                  

              
	
                Property
                  Maintenance 

              	
                ________________(5)
                  

              
	
                MI/Hazard
                  Insurance Premiums 

              	
                ________________(6)
                  

              
	
                Hazard
                  Loss Expenses 

              	
                ________________(7)
                  

              
	
                Accrued
                  Servicing Fees 

              	
                ________________(8)
                  

              
	
                Other
                  (itemize) 

              	
                ________________(9)
                  

              
	 	
                $
                  _________________ 

              
	 	 
	 	 
	 	 
	
                Total
                  Expenses

              	
                $
                  ______________(10) 

              
	
                Credits:
                  

              	 
	
                Escrow
                  Balance 

              	
                $
                  ______________(11) 

              
	
                HIP
                  Refund 

              	
                ________________(12)
                  

              
	
                Rental
                  Receipts 

              	
                ________________(13)
                  

              
	
                Hazard
                  Loss Proceeds 

              	
                ________________(14)
                  

              
	
                Primary
                  Mortgage Insurance Proceeds 

              	
                ________________(15)
                  

              
	
                Proceeds
                  from Sale of Acquired Property 

              	
                ________________(16)
                  

              
	
                Other
                  (itemize) 

              	
                ________________(17)
                  

              
	 	
                ___________________
                  

              
	 	
                ___________________
                  

              
	
                Total
                  Credits

              	
                $________________(18)
                  

              

      

      

      Total
        Realized Loss (or Amount
        of Gain)
        $________________ 

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Exhibit
      I

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        Assignment, Assumption and Recognition Agreement (this “AAR Agreement”) is made
        and entered into as of May 31, 2006 (the “Closing Date”), among EMC Mortgage
        Corporation (the “Assignor”), U.S. Bank National Association, not individually
        but solely as trustee for the holders of Bear Stearns ARM Trust, Mortgage
        Pass-Through Certificates, Series 2006-2 (the “Assignee”) and GMAC Mortgage
        Corporation (the “Company”).

       

      Whereas,
        the Assignor purchased mortgage loans from the Company (the “Mortgage Loans”)
        pursuant to that certain Mortgage Loan Purchase Agreement, dated as of February
        1, 2005, between the Assignor and the Company (the “MLPA”) and that certain term
        sheet dated March 28, 2006 between the Assignor and the Company (the “Term
        Sheet”, together with the MLPA, the “Purchase Agreement”);

      

      Whereas,
        the Assignor and the Company entered into that certain Servicing Agreement,
        dated as of May 1, 2001, as amended by Amendment No. 1, dated as of October
        1,
        2001, Amendment No. 2, dated as of July 31, 2002 and Amendment No. 3, dated
        as
        of December 20, 2005 (as amended, the “Servicing Agreement”), pursuant to which
        the Company agreed to service the Mortgage Loans.

      

      In
        consideration of the mutual promises and agreements contained herein, and
        for
        other good and valuable consideration, the receipt and sufficiency of which
        are
        hereby acknowledged, the parties hereto agree that the Mortgage Loans listed
        on
Attachment
        1
        annexed
        hereto (the “Assigned Loans”) shall be subject to the terms of this AAR
        Agreement. Any capitalized term used and not otherwise defined herein shall
        have
        the meaning assigned to such term in the Servicing Agreement.

      

      Assignment
        and Assumption

       

      1.  Except
        as
        expressly provided for herein, the Assignor hereby grants, transfers and
        assigns
        to the Assignee all of its right, title and interest in, to and under (a)
        the
        Assigned Loans and (b) as it relates to the Assigned Loans, the Servicing
        Agreement. Notwithstanding anything to the contrary contained herein, the
        Assignor is not assigning to the Assignee any of its right, title and interest
        in, to and under the Servicing Agreement with respect to any other mortgage
        loan
        other than the Assigned Loans. Except as is otherwise expressly provided
        herein,
        the Assignor makes no representations, warranties or covenants to the Assignee
        and the Assignee acknowledges that the Assignor has no obligations to the
        Assignee under the terms of the Servicing Agreement or otherwise relating
        to the
        transaction contemplated herein (including, but not limited to, any obligation
        to indemnify the Assignee).

       

      Assignor
        acknowledges and agrees that upon execution of this AAR Agreement, the Assignee
        shall become the “Owner” under the Servicing Agreement, and all representations,
        warranties and covenants by the “Servicer” to the “Owner” under the Servicing
        Agreement including, but not limited to, the rights to receive indemnification,
        shall accrue to Assignee by virtue of this AAR Agreement.

       

      Representations,
        Warranties and Covenants

       

      2.  Assignor
        warrants and represents to, and covenants with, Assignee and Company as of
        the
        date hereof that:

       

      
        	a.  	
                Attached
                  hereto as Attachment
                  2
                  is
                  a true and correct copy of the Servicing Agreement, which Servicing
                  Agreement is in full force and effect as of the date hereof and
                  the
                  provisions of which have not been waived, amended or modified in
                  any
                  respect, nor has any notice of termination been given
                  thereunder;

              

      

       

      
        	b.  	
                Assignor
                  is the lawful owner of the Assigned Loans with full right to transfer
                  the
                  Assigned Loans and any and all of its interests, rights and obligations
                  under the Servicing Agreement as they relate to the Assigned Loans,
                  free
                  and clear from any and all claims and encumbrances; and upon the
                  transfer
                  of the Assigned Loans to Assignee as contemplated herein, Assignee
                  shall
                  have good title to each and every Assigned Loan, as well as any
                  and all of
                  Assignee’s interests, rights and obligations under the Servicing Agreement
                  as they relate to the Assigned Loans, free and clear of any and
                  all liens,
                  claims and encumbrances;

              

      

       

      
        	c.  	
                There
                  are no offsets, counterclaims or other defenses available to the
                  Company
                  with respect to the Assigned Loans, the Purchase Agreement or the
                  Servicing Agreement;

              

      

       

      
        	d.  	
                Assignor
                  has no knowledge of, and has not received notice of, any waivers
                  under, or
                  any modification of, any Assigned
                  Loan;

              

      

       

      
        	e.  	
                Assignor
                  is duly organized, validly existing and in good standing under
                  the laws of
                  the jurisdiction of its incorporation, and has all requisite power
                  and
                  authority to acquire, own and sell the Assigned
                  Loans;

              

      

       

      
        	f.  	
                Assignor
                  has full corporate power and authority to execute, deliver and
                  perform its
                  obligations under this AAR Agreement, and to consummate the transactions
                  set forth herein. The consummation of the transactions contemplated
                  by
                  this AAR Agreement is in the ordinary course of Assignor’s business and
                  will not conflict with, or result in a breach of, any of the terms,
                  conditions or provisions of Assignor’s charter or by-laws or any legal
                  restriction, or any material agreement or instrument to which Assignor
                  is
                  now a party or by which it is bound, or result in the violation
                  of any
                  law, rule, regulation, order, judgment or decree to which Assignor
                  or its
                  property is subject. The execution, delivery and performance by
                  Assignor
                  of this AAR Agreement and the consummation by it of the transactions
                  contemplated hereby, have been duly authorized by all necessary
                  corporate
                  action on part of Assignor. This AAR Agreement has been duly executed
                  and
                  delivered by Assignor and, upon the due authorization, execution
                  and
                  delivery by Assignee and the parties hereto, will constitute the
                  valid and
                  legally binding obligation of Assignor enforceable against Assignor
                  in
                  accordance with its terms except as enforceability may be limited
                  by
                  bankruptcy, reorganization, insolvency, moratorium or other similar
                  laws
                  now or hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at law;
                  and

              

      

       

      
        	g.  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by Assignor in connection with the execution, delivery or
                  performance
                  by Assignor of this AAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby. Neither Assignor nor anyone acting
                  on
                  its behalf has offered, transferred, pledged, sold or otherwise
                  disposed
                  of the Assigned Loans or any interest in the Assigned Loans, or
                  solicited
                  any offer to buy or accept a transfer, pledge or other disposition
                  of the
                  Assigned Loans, or any interest in the Assigned Loans or otherwise
                  approached or negotiated with respect to the Assigned Loans, or
                  any
                  interest in the Assigned Loans with any Person in any manner, or
                  made any
                  general solicitation by means of general advertising or in any
                  other
                  manner, or taken any other action which would constitute a distribution
                  of
                  the Assigned Loans under the Securities Act of 1933, as amended
                  (the “1933
                  Act”)
                  or
                  which would render the disposition of the Assigned Loans a violation
                  of
                  Section 5 of the 1933 Act or require registration pursuant
                  thereto.

              

      

       

      3.  The
        Assignee warrants and represents to, and covenants with, the Assignor and
        the
        Company as of the date hereof that:

       

      
        	a.  	
                Assignee
                  is duly organized, validly existing and in good standing under
                  the laws of
                  the jurisdiction of its organization and has all requisite power
                  and
                  authority to hold the Assigned Loans as trustee on behalf of the
                  holders
                  of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates,
                  Series
                  2006-2;

              

      

       

      
        	b.  	
                Assignee
                  has full corporate power and authority to execute, deliver and
                  perform
                  under this AAR Agreement, and to consummate the transactions set
                  forth
                  herein. The consummation of the transactions contemplated by this
                  AAR
                  Agreement is in the ordinary course of Assignee’s business and will not
                  conflict with, or result in a breach of, any of the terms, conditions
                  or
                  provisions of Assignee’s charter or by-laws or any legal restriction, or
                  any material agreement or instrument to which Assignee is now a
                  party or
                  by which it is bound, or result in the violation of any law, rule,
                  regulation, order, judgment or decree to which Assignee or its
                  property is
                  subject. The execution, delivery and performance by Assignee of
                  this AAR
                  Agreement and the consummation by it of the transactions contemplated
                  hereby, have been duly authorized by all necessary corporate action
                  on
                  part of Assignee. This AAR Agreement has been duly executed and
                  delivered
                  by Assignee and, upon the due authorization, execution and delivery
                  by
                  Assignor and the parties hereto, will constitute the valid and
                  legally
                  binding obligation of Assignee enforceable against Assignee in
                  accordance
                  with its terms except as enforceability may be limited by bankruptcy,
                  reorganization, insolvency, moratorium or other similar laws now
                  or
                  hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	c.  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by Assignee in connection with the execution, delivery or
                  performance
                  by Assignee of this AAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby; and

              

      

       

      
        	d.  	
                The
                  Assignee assumes all of the rights of the Owner under the Servicing
                  Agreement with respect to the Assigned Loans other than the right
                  to
                  enforce the obligations of the Servicer under the Servicing
                  Agreement.

              

      

       

      4.  Company
        warrants and represents to, and covenants with, Assignee and Assignor, as
        of the
        date hereof, that:

       

      
        	a.  	
                Attached
                  hereto as Attachment
                  2
                  is
                  a true and correct copy of the Servicing Agreement, which agreement
                  is in
                  full force and effect as of the date hereof and the provisions
                  of which
                  have not been waived, amended or modified in any respect, nor has
                  any
                  notice of termination been given
                  thereunder;

              

      

       

      
        	b.  	
                Company
                  is duly organized, validly existing and in good standing under
                  the laws of
                  the jurisdiction of its incorporation, and has all requisite power
                  and
                  authority to service the Assigned Loans and otherwise to perform
                  its
                  obligations under the Servicing
                  Agreement;

              

      

       

      
        	c.  	
                Company
                  has full corporate power and authority to execute, deliver and
                  perform its
                  obligations under this AAR Agreement, and to consummate the transactions
                  set forth herein. The consummation of the transactions contemplated
                  by
                  this AAR Agreement is in the ordinary course of Company’s business and
                  will not conflict with, or result in a breach of, any of the terms,
                  conditions or provisions of Company’s articles of incorporation or any
                  legal restriction, or any material agreement or instrument to which
                  Company is now a party or by which it is bound, or result in the
                  violation
                  of any law, rule, regulation, order, judgment or decree to which
                  Company
                  or its property is subject. The execution, delivery and performance
                  by
                  Company of this AAR Agreement and the consummation by it of the
                  transactions contemplated hereby, have been duly authorized by
                  all
                  necessary corporate action on part of Company. This AAR Agreement
                  has been
                  duly executed and delivered by Company, and, upon the due authorization,
                  execution and delivery by Assignor and Assignee, will constitute
                  the valid
                  and legally binding obligation of Company, enforceable against
                  Company in
                  accordance with its terms except as enforceability may be limited
                  by
                  bankruptcy, reorganization, insolvency, moratorium or other similar
                  laws
                  now or hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	d.  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by Company in connection with the execution, delivery or performance
                  by Company of this AAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby; 

              

      

       

      
        	e.  	
                Company
                  shall establish a Custodial Account and an Escrow Account under
                  the
                  Servicing Agreement in favor of Assignee with respect to the Assigned
                  Loans separate from the Custodial Account and Escrow Account previously
                  established under the Servicing Agreement in favor of Assignor;
                  

              

      

       

      
        	f.  	
                Pursuant
                  to Section 10.02 of the Servicing Agreement, the Company hereby
                  restates
                  the representations and warranties set forth in Article III of
                  the
                  Servicing Agreement with respect to the Company and the Assigned
                  Loans as
                  of the date hereof; and

              

      

       

      
        	g.  	
                Neither
                  this AAR Agreement nor any certification, statement, report or
                  other
                  agreement, document or instrument furnished or to be furnished
                  by the
                  Company pursuant to this AAR Agreement contains or will contain
                  any
                  materially untrue statement of fact or omits or will omit to state
                  a fact
                  necessary to make the statements contained therein not
                  misleading.

              

      

       

      5.  Company
        warrants and represents to, and covenants with, Assignor and Structured Asset
        Mortgage Investments II Inc. (“SAMI II”) as of the date hereof:

       

      
        	a.  	
                Company
                  is not aware and has not received notice that any default, early
                  amortization or other performance triggering event has occurred
                  as to any
                  other securitization due to any act or failure to act of the
                  Company;

              

      

       

      
        	b.  	
                No
                  material noncompliance with the applicable servicing criteria with
                  respect
                  to other securitizations of residential mortgage loans involving
                  the
                  Company as servicer has been disclosed or reported by the
                  Company;

              

      

       

      
        	c.  	
                Company
                  has not been terminated as servicer in a residential mortgage loan
                  securitization, either due to a servicing default or to application
                  of a
                  servicing performance test or
                  trigger;

              

      

       

      
        	d.  	
                No
                  material changes to the Company’s policies or procedures with respect to
                  the servicing function it will perform under the Servicing Agreement
                  and
                  this AAR Agreement for mortgage loans of a type similar to the
                  Assigned
                  Loans have occurred during the three-year period immediately preceding
                  the
                  date hereof;

              

      

       

      
        	e.  	
                There
                  are no aspects of the Company’s financial condition that could have a
                  material adverse effect on the performance by the Company of its
                  servicing
                  obligations under the Servicing Agreement and this AAR
                  Agreement;

              

      

       

      
        	f.  	
                There
                  are no material legal or governmental proceedings pending (or known
                  to be
                  contemplated) against the Company, any Subservicer or any third-party
                  originator; and

              

      

       

      
        	g.  	
                There
                  are no affiliations, relationships or transactions relating to
                  the Company
                  or any Subservicer with respect to this Securitization Transaction
                  and any
                  party thereto of a type described in Item 1119 of Regulation
                  AB.

              

      

       

      Notwithstanding
        anything to the contrary in the Agreement, the Company shall (or shall cause
        any
        Third-Party Originator to) (i) immediately notify Assignor and SAMI II in
        writing of (A) legal proceedings pending against the Company, or proceedings
        known to be contemplated by governmental authorities against the Company
        which
        in the judgment of the Company would be, in each case, material to purchasers
        of
        securities backed by the Assigned Loans, (B) any affiliations or relationships
        of the type described in Item 1119(b) of Regulation AB that develop following
        the date hereof between the Company and any of the above listed parties or
        other
        parties identified in writing by the Assignor or SAMI II with respect to
        the
        Securitization Transaction and (ii) provide to the Assignor and SAMI II a
        description of such proceedings, affiliations or relationships.

      

      Each
        such
        notice/update should be sent to the Assignor by e-mail to
        regABnotifications@bear.com. Additionally, all such notifications, other
        than
        those pursuant to (i)(A) above, should be sent to:

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

      

      With
        a
        copy to:

      

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

      

      Notifications
        pursuant to (i)(A) above should be sent to: 

      

      EMC
        Mortgage Corporation

      Two
        Mac
        Arthur Ridge

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        TX 75038

      Attention:
        Associate General Counsel for Loan Administration

      Facsimile:
        (972) 831-2555

      

      With
        copies to:

      

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

      

      6.  Assignor
        hereby agrees to indemnify and hold the Assignee (and its successors and
        assigns) harmless against any and all claims, losses, penalties, fines,
        forfeitures, legal fees and related costs, judgments, and any other costs,
        fees
        and expenses that Assignee (and its successors and assigns) may sustain in
        any
        way related to any breach of the representations or warranties of Assignor
        set
        forth in this AAR Agreement or the breach of any covenant or condition contained
        herein.

       

      7.  It
        is expressly understood and agreed by the parties hereto that insofar as
        this
        AAR Agreement is executed on behalf of the Assignee (i) this AAR Agreement
        is
        executed and delivered by U.S. Bank National Association, not in its individual
        capacity but solely as trustee under the Pooling and Servicing Agreement,
        dated
        as of May 1, 2006 (the “Pooling and Servicing Agreement”), among the Assignor,
        SAMI II, U.S. Bank National Association, as trustee and Wells Fargo Bank,
        N.A.
        as securities administrator and master servicer, in the exercise of the powers
        and authority conferred and vested in it, (ii) each of the representations,
        undertakings and agreements herein made on the part of the Assignee is made
        and
        intended not as representations, warranties, covenants, undertakings and
        agreements by U.S. Bank National Association in its individual capacity,
        but is
        made and intended for the purpose of binding only the Assignee, (iii) under
        no
        circumstances shall U.S. Bank National Association in its individual capacity
        be
        personally liable for the payment of any indebtedness or expenses of the
        Assignee or be liable for the breach or failure of any obligation,
        representation, warranty or covenant made or undertaken by the Assignee under
        this AAR Agreement and (iv) any recourse against the Assignee in respect
        of any
        obligations it may have under or pursuant to the terms of this AAR Agreement
        shall be limited solely to the assets it may hold as trustee of Bear Stearns
        ARM
        Trust, Series 2006-2.

       

      Recognition
        of Assignee

       

      8.  From
        and after the date hereof, Company shall recognize Assignee as owner of the
        Assigned Loans, and will service the Assigned Loans for Assignee as if Assignee
        and Company had entered into a separate servicing agreement for the servicing
        of
        the Assigned Loans in the form of the Servicing Agreement (as modified herein),
        the terms of which are incorporated herein by reference. The Company
        acknowledges that the Assigned Loans will be part of a REMIC, and will service
        the Assigned Loans in accordance with the Servicing Agreement but in no event
        in
        a manner that would (i) cause any REMIC to fail to qualify as a REMIC or
        (ii)
        result in the imposition of a tax upon any REMIC (including but not limited
        to
        the tax on prohibited transactions as defined in Section 860F(a)(2) of the
        Code
        and the tax on contributions to a REMIC set forth in Section 860G(d) of the
        Code). It is the intention of Assignor, Company and Assignee that this AAR
        Agreement shall be binding upon and for the benefit of the respective successors
        and assigns of the parties hereto. Neither Company nor Assignor shall amend
        or
        agree to amend, modify, waive, or otherwise alter any of the terms or provisions
        of the Servicing Agreement which amendment, modification, waiver or other
        alteration would in any way affect the Assigned Loans without the prior written
        consent of Assignee.

       

      Modification
        of Servicing Agreement

       

      9.  The
        Company and Assignor hereby amend the Servicing Agreement as
        follows:

       

      
        	(a)  	
                The
                  following definitions are added to Article I of the Servicing
                  Agreement:

              

      

       

      Assignee:
        U.S.
        Bank National Association, as trustee for the holders of Bear Stearns ARM
        Trust,
        Mortgage Pass-Through Certificates, Series 2006-2.

       

      Master
        Servicer:
        Wells
        Fargo Bank, N.A., or its successors in interest who meet the qualifications
        of
        the Pooling and Servicing Agreement and this Agreement.

       

      Pooling
        and Servicing Agreement:
        That
        certain pooling and servicing agreement, dated as of May 1, 2006, among
        Structured Asset Mortgage Investments II Inc., the Trustee, Wells Fargo Bank,
        N.A. as securities administrator, the Master Servicer and the
        Owner.

       

      Trustee:
        U.S.
        Bank National Association, or its successor in interest, or any successor
        trustee appointed as provided in the Pooling and Servicing
        Agreement.

       

      
        	(b)  	
                The
                  definition of “Business Day” is deleted in its entirety and replaced with
                  the following:

              

      

       

      Business
        Day:
        Any day
        other than: (i) a Saturday or Sunday, or (ii) a legal holiday in the States
        of
        New York, Illinois, Maryland, Minnesota or the Commonwealth of Pennsylvania
        (iii) a day on which banks in the States of New York, Illinois, Maryland,
        Minnesota or the Commonwealth of Pennsylvania are authorized or obligated
        by law
        or executive order to be closed.

       

      
        	(c)  	
                The
                  definition of Qualified Depository is deleted in its entirety and
                  replaced
                  with the following:

              

      

       

      Qualified
        Depository:
        A
        separate and segregated account established with a depository, the accounts
        of
        which are insured by the FDIC through BIF or the SAIF and the short term
        debt
        ratings of which are rated in the highest rating category by Standard &
Poor's Rating Services, a division of The McGraw-Hill Companies Inc., Moody's
        Investors Services, Inc., or Fitch, Inc.

       

      

      
        	(d)  	
                Exhibit
                  G of the Servicing Agreement is deleted in its entirety and replaced
                  with
                  the following:

              

      

       

      EXHIBIT
        G

      

      SERVICING
        CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

      

      The
        assessment of compliance to be delivered by [the Company] [Name of Subservicer]
        shall address, at a minimum, the criteria identified as below as “Applicable
        Servicing Criteria”:

      

      
        	
                Servicing
                  Criteria 

              	
                Applicable
                  Servicing Criteria

              
	
                Reference

              	
                Criteria

              	
                 

              
	
                 

              	
                General
                  Servicing Considerations

              	
                 

              
	
                1122(d)(1)(i)

              	
                Policies
                  and procedures are instituted to monitor any performance or other
                  triggers
                  and events of default in accordance with the transaction
                  agreements.

              	
                x

              
	
                1122(d)(1)(ii)

              	
                If
                  any material servicing activities are outsourced to third parties,
                  policies and procedures are instituted to monitor the third party’s
                  performance and compliance with such servicing activities.

              	
                x

              
	
                1122(d)(1)(iii)

              	
                Any
                  requirements in the transaction agreements to maintain a back-up
                  servicer
                  for the mortgage loans are maintained.

              	 
	
                1122(d)(1)(iv)

              	
                A
                  fidelity bond and errors and omissions policy is in effect on the
                  party
                  participating in the servicing function throughout the reporting
                  period in
                  the amount of coverage required by and otherwise in accordance
                  with the
                  terms of the transaction agreements.

              	
                x

              
	
                 

              	
                Cash
                  Collection and Administration

              	 
	
                1122(d)(2)(i)

              	
                Payments
                  on mortgage loans are deposited into the appropriate custodial
                  bank
                  accounts and related bank clearing accounts no more than two business
                  days
                  following receipt, or such other number of days specified in the
                  transaction agreements.

              	
                x

              
	
                1122(d)(2)(ii)

              	
                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel.

              	
                x

              
	
                1122(d)(2)(iii)

              	
                Advances
                  of funds or guarantees regarding collections, cash flows or distributions,
                  and any interest or other fees charged for such advances, are made,
                  reviewed and approved as specified in the transaction
                  agreements.

              	
                x

              
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of overcollateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements.

              	
                x

              
	
                1122(d)(2)(v)

              	
                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial institution
                  that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.

              	
                x

              
	
                1122(d)(2)(vi)

              	
                Unissued
                  checks are safeguarded so as to prevent unauthorized
                  access.

              	
                x

              
	
                1122(d)(2)(vii)

              	
                Reconciliations
                  are prepared on a monthly basis for all asset-backed securities
                  related
                  bank accounts, including custodial accounts and related bank clearing
                  accounts. These reconciliations are (A) mathematically accurate;
                  (B)
                  prepared within 30 calendar days after the bank statement cutoff
                  date, or
                  such other number of days specified in the transaction agreements;
                  (C)
                  reviewed and approved by someone other than the person who prepared
                  the
                  reconciliation; and (D) contain explanations for reconciling items.
                  These
                  reconciling items are resolved within 90 calendar days of their
                  original
                  identification, or such other number of days specified in the transaction
                  agreements.

              	
                x

              
	
                 

              	
                Investor
                  Remittances and Reporting

              	 
	
                1122(d)(3)(i)

              	
                Reports
                  to investors, including those to be filed with the Commission,
                  are
                  maintained in accordance with the transaction agreements and applicable
                  Commission requirements. Specifically, such reports (A) are prepared
                  in
                  accordance with timeframes and other terms set forth in the transaction
                  agreements; (B) provide information calculated in accordance with
                  the
                  terms specified in the transaction agreements; (C) are filed with
                  the
                  Commission as required by its rules and regulations; and (D) agree
                  with
                  investors’ or the trustee’s records as to the total unpaid principal
                  balance and number of mortgage loans serviced by the
                  Servicer.

              	
                x

              
	
                1122(d)(3)(ii)

              	
                Amounts
                  due to investors are allocated and remitted in accordance with
                  timeframes,
                  distribution priority and other terms set forth in the transaction
                  agreements.

              	
                x

              
	
                1122(d)(3)(iii)

              	
                Disbursements
                  made to an investor are posted within two business days to the
                  Servicer’s
                  investor records, or such other number of days specified in the
                  transaction agreements.

              	
                x

              
	
                1122(d)(3)(iv)

              	
                Amounts
                  remitted to investors per the investor reports agree with cancelled
                  checks, or other form of payment, or custodial bank
                  statements.

              	
                x

              
	
                 

              	
                Pool
                  Asset Administration

              	 
	
                1122(d)(4)(i)

              	
                Collateral
                  or security on mortgage loans is maintained as required by the
                  transaction
                  agreements or related mortgage loan documents.

              	
                x

              
	
                1122(d)(4)(ii)

              	
                Mortgage
                  loan and related documents are safeguarded as required by the transaction
                  agreements

              	
                x

              
	
                1122(d)(4)(iii)

              	
                Any
                  additions, removals or substitutions to the asset pool are made,
                  reviewed
                  and approved in accordance with any conditions or requirements
                  in the
                  transaction agreements.

              	
                x

              
	
                1122(d)(4)(iv)

              	
                Payments
                  on mortgage loans, including any payoffs, made in accordance with
                  the
                  related mortgage loan documents are posted to the Servicer’s obligor
                  records maintained no more than two business days after receipt,
                  or such
                  other number of days specified in the transaction agreements, and
                  allocated to principal, interest or other items (e.g., escrow)
                  in
                  accordance with the related mortgage loan documents.

              	
                x

              
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the mortgage loans agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal
                  balance.

              	
                x

              
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's mortgage loans
                  (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents.

              	
                x

              
	
                1122(d)(4)(vii)

              	
                Loss
                  mitigation or recovery actions (e.g., forbearance plans, modifications
                  and
                  deeds in lieu of foreclosure, foreclosures and repossessions, as
                  applicable) are initiated, conducted and concluded in accordance
                  with the
                  timeframes or other requirements established by the transaction
                  agreements.

              	
                x

              
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a mortgage
                  loan is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent mortgage loans including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or
                  unemployment).

              	
                x

              
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for mortgage loans with variable
                  rates are computed based on the related mortgage loan
                  documents.

              	
                x

              
	
                1122(d)(4)(x)

              	
                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s mortgage loan
                  documents, on at least an annual basis, or such other period specified
                  in
                  the transaction agreements; (B) interest on such funds is paid,
                  or
                  credited, to obligors in accordance with applicable mortgage loan
                  documents and state laws; and (C) such funds are returned to the
                  obligor
                  within 30 calendar days of full repayment of the related mortgage
                  loans,
                  or such other number of days specified in the transaction
                  agreements.

              	
                x

              
	
                1122(d)(4)(xi)

              	
                Payments
                  made on behalf of an obligor (such as tax or insurance payments)
                  are made
                  on or before the related penalty or expiration dates, as indicated
                  on the
                  appropriate bills or notices for such payments, provided that such
                  support
                  has been received by the servicer at least 30 calendar days prior
                  to these
                  dates, or such other number of days specified in the transaction
                  agreements.

              	
                x

              
	
                1122(d)(4)(xii)

              	
                Any
                  late payment penalties in connection with any payment to be made
                  on behalf
                  of an obligor are paid from the servicer’s funds and not charged to the
                  obligor, unless the late payment was due to the obligor’s error or
                  omission.

              	
                x

              
	
                1122(d)(4)(xiii)

              	
                Disbursements
                  made on behalf of an obligor are posted within two business days
                  to the
                  obligor’s records maintained by the servicer, or such other number of days
                  specified in the transaction agreements.

              	
                x

              
	
                1122(d)(4)(xiv)

              	
                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements.

              	
                x

              
	
                1122(d)(4)(xv)

              	
                Any
                  external enhancement or other support, identified in Item 1114(a)(1)
                  through (3) or Item 1115 of Regulation AB, is maintained as set
                  forth in
                  the transaction agreements.

              	 
	
                 

              	
                 

              	
                 

              

      

      

      
        	
                [NAME
                  OF COMPANY] 

                [NAME
                  OF SUBSERVICER]

                 

              
	
                Date:

              	 
	
                By:

              	 
	
                Name:

              	 
	
                Title:

              	 

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      Miscellaneous

       

      10.  All
        demands, notices and communications related to the Assigned Loans, the Servicing
        Agreement and this AAR Agreement shall be in writing and shall be deemed
        to have
        been duly given if personally delivered at or mailed by registered mail,
        postage
        prepaid, as follows:

       

      
        	a.  	
                In
                  the case of Company,

              

      

      GMAC
        Mortgage Corporation

      500
        Enterprise Road

      Horsham,
        Pennsylvania 19044

      Attention:
        Mr. Frank Ruhl

      Telecopier
        No.: (215) 682-3396

       

      
        	b.  	
                In
                  the case of Assignor,

              

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        President or General Counsel

      Telecopier
        No.: (972) 442-2880

      

      
        	c.  	
                In
                  the case of Assignee,

              

      

      U.S.
        Bank
        National Association, as Trustee

      One
        Federal Street, 3rd
        Floor

      Boston,
        Massachusetts 02110

      Attention:
        Corporate Trust Services, BSARM 2006-2

      Telecopier
        No.: (617) 603-6638

      

      11.  The
        Company hereby acknowledges that Wells Fargo Bank, N.A. (the “Master Servicer”)
        has been appointed as the master servicer of the Assigned Loans pursuant
        to the
        Pooling and Servicing Agreement, dated as of May 1, 2006, among the Assignor,
        the Assignee, SAMI II, Wells Fargo Bank, N.A. as securities administrator
        and
        the Master Servicer, and therefor has the right to enforce all obligations
        of
        the Company, as they relate to the Assigned Loans, under the Servicing
        Agreement. Such right will include, without limitation, the right to terminate
        the Company under the Servicing Agreement upon the occurrence of an event
        of
        default thereunder, the right to receive all remittances required to be made
        by
        the Company under the Servicing Agreement, the right to receive all monthly
        reports and other data required to be delivered by the Company under the
        Servicing Agreement, the right to examine the books and records of the Company,
        indemnification rights, and the right to exercise certain rights of consent
        and
        approval relating to actions taken by the Company. The Company shall make
        all
        distributions under the Servicing Agreement, as they relate to the Assigned
        Loans, to the Master Servicer by wire transfer of immediately available funds
        to:

       

      Wells
        Fargo Bank, N.A.

      ABA#
        121000248

      Account
        Name: SAS Clearing

      Account
        #
        3970771416

      For
        Further Credit to: BSARM 2006-2, Account # 50920200

       

      and
        the
        Company shall deliver all reports required to be delivered under the Servicing
        Agreement, as they relate to the Assigned Loans, to the Assignee at the address
        set forth in Section 10 herein and to the Master Servicer at:

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-2 Telecopier No: (410) 715-2380

      

      12.  THIS
        AAR
        AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
        NEW
        YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES (OTHER THAN SECTION 5-1401
        OF THE NEW YORK GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND
        REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
        SUCH
        LAWS.

       

      13.  No
        term
        or provision of this AAR Agreement may be waived or modified unless such
        waiver
        or modification is in writing and signed by the party against whom such waiver
        or modification is sought to be enforced.

       

      14.  This
        AAR
        Agreement shall inure to the benefit of the successors and assigns of the
        parties hereto. Any entity into which Assignor, Assignee or Company may be
        merged or consolidated shall, without the requirement for any further writing,
        be deemed Assignor, Assignee or Company, respectively, hereunder.

       

      15.  This
        AAR
        Agreement shall survive the conveyance of the Assigned Loans, the assignment
        of
        the Servicing Agreement to the extent of the Assigned Loans by Assignor to
        Assignee and the termination of the Servicing Agreement and the Purchase
        Agreement.

       

      16.  This
        AAR
        Agreement may be executed simultaneously in any number of counterparts. Each
        counterpart shall be deemed to be an original and all such counterparts shall
        constitute one and the same instrument.

       

      17.  In
        the
        event that any provision of this AAR Agreement conflicts with any provision
        of
        the Servicing Agreement with respect to the Assigned Loans, the terms of
        this
        AAR Agreement shall control.

       

      

       

      
        
          
            

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Agreement on the date
        first above written.

       

      

        
          	
                  EMC
                    MORTAGE CORPORATION,

                  the
                    Assignor

                	 	
                  U.S.
                    BANK NATIONAL ASSOCIATION, not individually but solely as trustee
                    for the
                    holders of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates,
                    Series 2006-2,

                  the
                    Assignee

                
	 	 	 	 	 
	 	 	 	 	 
	
                  By:

                	 	 	
                  By:

                	 
	
                  Name:

                	 	 	
                  Name:

                	 
	
                  Title:

                	 	 	
                  Title:

                	 
	 
	 
	
                  GMAC
                    MORTGAGE CORPORATION,

                  the
                    Company

                
	 	 
	
                  By:

                	 
	
                  Name:

                	 
	
                  Title:

                	 

        

      

       

       

       

      Acknowledged
        and Agreed

       

      
        	
                WELLS
                  FARGO BANK, N.A.

                the
                  Master Servicer

              
	 	 
	
                By:

              	 
	
                Name:

              	 
	
                Title:

              	 
	 
	 
	
                STRUCTURED
                  ASSET MORTGAGE 

                INVESTMENTS
                  II INC.

              
	 	 
	
                By:

              	 
	
                Name:

              	 
	
                Title:

              	 

      

      

       

      

      
        
          
            

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      ATTACHMENT
        1

      

      ASSIGNED
        LOANS

      

      [Provided
        Upon Request]

      
        
          
            

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      ATTACHMENT
        2

      

      SERVICING
        AGREEMENT

    

     

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        is
        an Assignment, Assumption and Recognition Agreement (this “AAR Agreement”) made
        as of May 31, 2006, among EMC Mortgage Corporation (the “Assignor”), U.S. Bank
        National Association, not individually but solely as trustee for the holders
        of
        Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2006-2
        (the
“Assignee”) and Bank of America, National Association (the
“Company”).

       

      In
        consideration of the mutual promises contained herein the parties hereto
        agree
        that the residential mortgage loans (the “Assigned Loans”) listed on Attachment
        1 annexed hereto (the “Assigned Loan Schedule”) now serviced by Company for
        Assignor and its successors and assigns pursuant to (a) the Amended and Restated
        Flow Mortgage Loan Sale and Servicing Agreement, dated April 1, 2005 as modified
        by the Regulation AB Compliance Addendum to Amended and Restated Flow Mortgage
        Loan Sale and Servicing Agreement (the “Reg AB Addendum”), dated December 21,
        2005, each by and between the Assignor and the Company (collectively, the
        “Mortgage Loan Sale and Servicing Agreement”) and (b) those certain Term Sheets
        dated February 8, 2006 and March 16, 2006, each by and between Assignor and
        Company (the “Term Sheets” and together with the Mortgage Loan Sale and
        Servicing Agreement, the “Agreements”) shall be subject to the terms of this AAR
        Agreement. Capitalized terms used herein but not defined shall have the meanings
        ascribed to them in the Mortgage Loan Sale and Servicing Agreement.

       

      Assignment
        and Assumption

       

      1.  Assignor
        hereby grants, transfers and assigns to Assignee all of the right, title
        and
        interest of Assignor in the Assigned Loans and, as they relate to the Assigned
        Loans, all of its right, title and interest in, to and under the Mortgage
        Loan
        Sale and Servicing Agreement. Notwithstanding anything to the contrary contained
        herein, the Assignor specifically reserves and does not assign to the Assignee
        any right, title and interest in, to or under the representations and warranties
        contained in Subsection 7.01 and Subsection 7.02 of the Mortgage Loan Sale
        and
        Servicing Agreement, and any obligation of the Company to cure, repurchase
        or
        substitute for a mortgage loan and to indemnify the Assignor with respect
        to a
        breach of such representations and warranties pursuant to Subsection 7.03
        of the
        Mortgage Loan Sale and Servicing Agreement, and the Assignor is retaining
        the
        right to enforce the representations and warranties and the obligations of
        the
        Company set forth in those sections against the Company. Assignor specifically
        reserves and does not assign to Assignee any right, title and interest in,
        to or
        under any Mortgage Loans subject to the Mortgage Loan Sale and Servicing
        Agreement other than those set forth on Attachment 1.

       

      Representations,
        Warranties and Covenants

       

      2.  Assignor
        warrants and represents to Assignee and Company as of the date
        hereof:

       

      
        	a.  	
                Attached
                  hereto as Attachment 2 is a true and accurate copy of the Mortgage
                  Loan
                  Sale and Servicing Agreement, which agreement is in full force
                  and effect
                  as of the date hereof and the provisions of which have not been
                  waived,
                  amended or modified in any respect, nor has any notice of termination
                  been
                  given thereunder;

              

      

       

      
        	b.  	
                Assignor
                  was the lawful owner of the Assigned Loans with full right to transfer
                  the
                  Assigned Loans and any and all of its interests, rights and obligations
                  under the Mortgage Loan Sale and Servicing Agreement as they relate
                  to the
                  Assigned Loans, free and clear from any and all claims and encumbrances;
                  and upon the transfer of the Assigned Loans to Assignee as contemplated
                  herein, Assignee shall have good title to each and every Assigned
                  Loan, as
                  well as any and all of Assignee’s interests, rights and obligations under
                  the Mortgage Loan Sale and Servicing Agreement as they relate to
                  the
                  Assigned Loans, free and clear of any and all liens, claims and
                  encumbrances;

              

      

       

      
        	c.  	
                There
                  are no offsets, counterclaims or other defenses available to Company
                  with
                  respect to the Assigned Loans or the Mortgage Loan Sale and Servicing
                  Agreement;

              

      

       

      
        	d.  	
                Assignor
                  has no knowledge of, and has not received notice of, any waivers
                  under, or
                  any modification of, any Assigned
                  Loan;

              

      

       

      
        	e.  	
                Assignor
                  is duly organized, validly existing and in good standing under
                  the laws of
                  the jurisdiction of its incorporation, and has all requisite power
                  and
                  authority to acquire, own and sell the Assigned
                  Loans;

              

      

       

      
        	f.  	
                Assignor
                  has full corporate power and authority to execute, deliver and
                  perform its
                  obligations under this AAR Agreement, and to consummate the transactions
                  set forth herein. The consummation of the transactions contemplated
                  by
                  this AAR Agreement is in the ordinary course of Assignor’s business and
                  will not conflict with, or result in a breach of, any of the terms,
                  conditions or provisions of Assignor’s charter or by-laws or any legal
                  restriction, or any material agreement or instrument to which Assignor
                  is
                  now a party or by which it is bound, or result in the violation
                  of any
                  law, rule, regulation, order, judgment or decree to which Assignor
                  or its
                  property is subject. The execution, delivery and performance by
                  Assignor
                  of this AAR Agreement and the consummation by it of the transactions
                  contemplated hereby, have been duly authorized by all necessary
                  corporate
                  action on part of Assignor. This AAR Agreement has been duly executed
                  and
                  delivered by Assignor and, upon the due authorization, execution
                  and
                  delivery by Assignee and Company, will constitute the valid and
                  legally
                  binding obligation of Assignor enforceable against Assignor in
                  accordance
                  with its terms except as enforceability may be limited by bankruptcy,
                  reorganization, insolvency, moratorium or other similar laws now
                  or
                  hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	g.  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by Assignor in connection with the execution, delivery or
                  performance
                  by Assignor of this AAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby. Neither Assignor nor anyone acting
                  on
                  its behalf has offered, transferred, pledged, sold or otherwise
                  disposed
                  of the Assigned Loans or any interest in the Assigned Loans, or
                  solicited
                  any offer to buy or accept a transfer, pledge or other disposition
                  of the
                  Assigned Loans, or any interest in the Assigned Loans or otherwise
                  approached or negotiated with respect to the Assigned Loans, or
                  any
                  interest in the Assigned Loans with any Person in any manner, or
                  made any
                  general solicitation by means of general advertising or in any
                  other
                  manner, or taken any other action which would constitute a distribution
                  of
                  the Assigned Loans under the Securities Act of 1933, as amended
                  (the “1933
                  Act”)
                  or
                  which would render the disposition of the Assigned Loans a violation
                  of
                  Section 5 of the 1933 Act or require registration pursuant
                  thereto;

              

      

       

      
        	h.  	
                Assignor
                  has received from Company, and has delivered to Assignee, all documents
                  required to be delivered to Assignor by Company prior to the date
                  hereof
                  pursuant to Section 6.03 of the Mortgage Loan Sale and Servicing
                  Agreement
                  with respect to the Assigned Loans and has not received, and has
                  not
                  requested from Company, any additional documents;
                  and

              

      

       

      
        	i.  	
                No
                  event has occurred from the Closing Date to the date hereof which
                  would
                  render the representations and warranties as to the related Assigned
                  Loans
                  made by Company in Section 7.01 of the Mortgage Loan Sale and Servicing
                  Agreement to be untrue in any material
                  respect.

              

      

       

      3.  Assignee
        warrants and represents to, and covenants with, Assignor and Company as of
        the
        date hereof:

       

      
        	a.  	
                Assignee
                  is duly organized, validly existing and in good standing under
                  the laws of
                  the jurisdiction of its organization and has all requisite power
                  and
                  authority to hold the Mortgage Loans on behalf of the holders of
                  Bear
                  Stearns ARM Trust, Mortgage Pass-Through Certificates,
                  2006-2;

              

      

       

      
        	b.  	
                Assignee
                  has full corporate power and authority to execute, deliver and
                  perform its
                  obligations under this AAR Agreement, and to consummate the transactions
                  set forth herein. The consummation of the transactions contemplated
                  by
                  this AAR Agreement is in the ordinary course of Assignee’s business and
                  will not conflict with, or result in a breach of, any of the terms,
                  conditions or provisions of Assignee’s charter or by-laws or any legal
                  restriction, or any material agreement or instrument to which Assignee
                  is
                  now a party or by which it is bound, or result in the violation
                  of any
                  law, rule, regulation, order, judgment or decree to which Assignee
                  or its
                  property is subject. The execution, delivery and performance by
                  Assignee
                  of this AAR Agreement and the consummation by it of the transactions
                  contemplated hereby, have been duly authorized by all necessary
                  corporate
                  action on part of Assignee. This AAR Agreement has been duly executed
                  and
                  delivered by Assignee and, upon the due authorization, execution
                  and
                  delivery by Assignor and Company, will constitute the valid and
                  legally
                  binding obligation of Assignee enforceable against Assignee in
                  accordance
                  with its terms except as enforceability may be limited by bankruptcy,
                  reorganization, insolvency, moratorium or other similar laws now
                  or
                  hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	c.  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by Assignee in connection with the execution, delivery or
                  performance
                  by Assignee of this AAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby;
                  and

              

      

       

      
        	d.  	
                Assignee
                  assumes for the benefit of each of Assignor and Company all of
                  the
                  Assignor’s rights as “Purchaser” thereunder but solely with respect to
                  such Assigned Loans.

              

      

       

      4.  Company
        warrants and represents to, and covenant with, Assignor and Assignee as of
        the
        date hereof:

       

      
        	a.  	
                Attached
                  hereto as Attachment 2 is a true and accurate copy of the Mortgage
                  Loan
                  Sale and Servicing Agreement, which agreement is in full force
                  and effect
                  as of the date hereof and the provisions of which have not been
                  waived,
                  amended or modified in any respect, nor has any notice of termination
                  been
                  given to the Company thereunder;

              

      

       

      
        	b.  	
                Company
                  is duly organized, validly existing and in good standing under
                  the laws of
                  the jurisdiction of its organization, and has all requisite power
                  and
                  authority to service the Assigned Loans and otherwise to perform
                  its
                  obligations under the Mortgage Loan Sale and Servicing
                  Agreement;

              

      

       

      
        	c.  	
                Company
                  has full corporate power and authority to execute, deliver and
                  perform its
                  obligations under this AAR Agreement, and to consummate the transactions
                  set forth herein. The consummation of the transactions contemplated
                  by
                  this AAR Agreement is in the ordinary course of Company’s business and
                  will not conflict with, or result in a breach of, any of the terms,
                  conditions or provisions of Company’s articles of association or by-laws
                  or any legal restriction, or any material agreement or instrument
                  to which
                  Company is now a party or by which it is bound, or result in the
                  violation
                  of any law, rule, regulation, order, judgment or decree to which
                  Company
                  or its property is subject. The execution, delivery and performance
                  by
                  Company of this AAR Agreement and the consummation by it of the
                  transactions contemplated hereby, have been duly authorized by
                  all
                  necessary corporate action on part of Company. This AAR Agreement
                  has been
                  duly executed and delivered by Company, and, upon the due authorization,
                  execution and delivery by Assignor and Assignee, will constitute
                  the valid
                  and legally binding obligation of Company, enforceable against
                  Company in
                  accordance with its terms except as enforceability may be limited
                  by
                  bankruptcy, reorganization, insolvency, moratorium or other similar
                  laws
                  now or hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	d.  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by Company in connection with the execution, delivery or performance
                  by Company of this AAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby, except such as has been obtained,
                  effected or taken prior to the date hereof;

              

      

       

      
        	e.  	
                Company
                  shall establish a Custodial Account and an Escrow Account under
                  the
                  Mortgage Loan Sale and Servicing Agreement in favor of Assignee
                  with
                  respect to the Assigned Loans separate from the Custodial Account
                  and
                  Escrow Account previously established under the Mortgage Loan Sale
                  and
                  Servicing Agreement in favor of Assignor;
                  and

              

      

       

      
        	f.  	
                No
                  certification, statement, report or other agreement, document or
                  instrument furnished or to be furnished by the Company pursuant
                  to this
                  AAR Agreement contains or will contain any materially untrue statement
                  of
                  fact or omits or will omit to state a fact necessary to make the
                  statements contained therein not
                  misleading.

              

      

       

      5.  The
        Company hereby restates the representations and warranties set forth in Section
        2.02 of the Reg AB Addendum as of the date hereof.

       

      Notwithstanding
        anything to the contrary in the Agreement, the Company shall (or shall cause
        any
        Third-Party Originator to) (i) immediately notify Assignor and SAMI II in
        writing of (A) legal proceedings pending against the Company, or proceedings
        known to be contemplated by governmental authorities against the Company
        which
        in the judgment of the Company would be, in each case, material to purchasers
        of
        securities backed by the Assigned Loans, (B) any affiliations or relationships
        of the type described in Item 1119(b) of Regulation AB that develop following
        the date hereof between the Company and any of the above listed parties or
        other
        parties identified in writing by the Assignor or SAMI II with respect to
        the
        Securitization Transaction and (ii) provide to the Assignor and SAMI II a
        description of such proceedings, affiliations or relationships.

       

      Each
        such
        notice/update should be sent to the Assignor by e-mail to
        regABnotifications@bear.com. Additionally, all such notifications, other
        than
        those pursuant to (i)(A) above, should be sent to:

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      With
        a
        copy to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

       

      Notifications
        pursuant to (i)(A) above should be sent to: 

       

      EMC
        Mortgage Corporation

      Two
        Mac
        Arthur Ridge

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        TX 75038

      Attention:
        Associate General Counsel for Loan Administration

      Facsimile:
        (972) 831-2555

       

      With
        copies to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      6.  Assignor
        hereby agrees to indemnify and hold the Assignee (and its successors and
        assigns) harmless against any and all claims, losses, penalties, fines,
        forfeitures, legal fees and related costs, judgments, and any other costs,
        fees
        and expenses that Assignee (and its successors and assigns) may sustain in
        any
        way related to any breach of the representations or warranties of Assignor
        set
        forth in this AAR Agreement or the breach of any covenant or condition contained
        herein.

       

      7.  Notwithstanding
        any term hereof to the contrary, the execution and delivery of this AAR
        Agreement by the Assignee is solely in its capacity as trustee for Bear Stearns
        ARM Trust, Mortgage Pass-Through Certificates, Series 2006-2 and not
        individually, and any recourse against the Assignee in respect of any
        obligations it may have under or pursuant to the terms of this AAR Agreement
        shall be limited solely to the assets it may hold as trustee of Bear Stearns
        ARM
        Trust, Mortgage Pass-Through Certificates, Series 2006-2.

       

      Recognition
        of Assignee

       

      8.  From
        and
        after the date hereof, Company shall recognize Assignee as owner of the Assigned
        Loans, and acknowledges that the Assigned Loans will be part of a REMIC,
        and
        will service the Assigned Loans in accordance with the Mortgage Loan Sale
        and
        Servicing Agreement but in no event in a manner that would (i) cause any
        REMIC
        to fail to qualify as a REMIC or (ii) result in the imposition of a tax upon
        any
        REMIC (including but not limited to the tax on prohibited transactions as
        defined in Section 860F(a)(2) of the Code and the tax on contributions to
        a
        REMIC set forth in Section 860G(d) of the Code). It is the intention of
        Assignor, Company and Assignee that this AAR Agreement shall be binding upon
        and
        for the benefit of the respective successors and assigns of the parties hereto.
        Neither Company nor Assignor shall amend or agree to amend, modify, waive,
        or
        otherwise alter any of the terms or provisions of the Mortgage Loan Sale
        and
        Servicing Agreement which amendment, modification, waiver or other alteration
        would in any way affect the Assigned Loans without the prior written consent
        of
        Assignee.

       

      Modification
        of Mortgage Loan Sale and Servicing Agreement

       

      9.  The
        Company and Assignor hereby amend the Mortgage Loan Sale and Servicing Agreement
        as follows:

       

      The
        following definitions are added to Section 1 of the Mortgage Loan Sale and
        Servicing Agreement:

       

      Assignee:
        U.S.
        Bank National Association, as trustee for the holders of Bear Stearns ARM
        Trust,
        Mortgage Pass-Through Certificates, Series 2006-2.

       

      REMIC:
        A “real
        estate mortgage investment conduit” as defined in Section 860D of the
        Code.

       

      REMIC
        Provisions:
        The
        provisions of the federal income tax law relating to REMICs, which appear
        at
        Sections 860A through 860G of the Code, and related provisions and regulations
        promulgated thereunder, as the foregoing may be in effect from time to
        time.

       

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

       

      Master
        Servicer:
        Wells
        Fargo Bank, N.A., or its successors in interest who meet the qualifications
        of
        the Pooling and Servicing Agreement and this Agreement.

       

      Pooling
        and Servicing Agreement:
        That
        certain pooling and servicing agreement, dated as of May 1, 2006, among
        Structured Asset Mortgage Investments Inc. II, the Trustee, the Master Servicer
        and the Purchaser.

       

      Prepayment
        Penalty:
        With
        respect to any Mortgage Loan, the charges or premiums, if any, due in connection
        with a full or partial prepayment of such Mortgage Loan in accordance with
        the
        terms thereof.

       

      Trustee:
        U.S.
        Bank National Association, or its successor in interest, or any successor
        trustee appointed as provided in the Pooling and Servicing
        Agreement.

       

      The
        definition of Business Day in Section 1 of the Mortgage Loan Sale and Servicing
        Agreement is deleted in its entirety and replaced with the following
        definition:

       

      Business
        Day:
        Any day
        other than a Saturday or Sunday, or a day on which banking and savings and
        loan
        institutions in the States of New York, California, Virginia, Maryland or
        Minnesota are authorized or obligated by law or executive order to be
        closed.

       

      The
        following representations and warranties shall be added to Section 7.01 of
        the
        Mortgage Loan Sale and Servicing Agreement:

       

      (fff) No
        subprime
        Mortgage
        Loan originated on or after October 1, 2002 will impose a prepayment premium
        for
        a term in excess of three years. Any Mortgage Loans originated prior to such
        date, and any non-subprime Mortgage Loans, will not impose prepayment penalties
        in excess of five years.

       

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

       

      The
        following are added as the last three paragraphs of Subsection 11.01 of the
        Mortgage Loan Sale and Servicing Agreement:

       

      “Notwithstanding
        anything in this Agreement to the contrary, the Servicer (a) shall not permit
        any modification with respect to any Mortgage Loan that would change the
        Mortgage Interest Rate and (b) shall not (unless the Mortgagor is in default
        with respect to the Mortgage Loan or such default is, in the judgment of
        the
        Servicer, reasonably foreseeable) make or permit any modification, waiver
        or
        amendment of any term of any Mortgage Loan that would both (i) effect an
        exchange or reissuance of such Mortgage Loan under Section 1001 of the Code
        (or
        Treasury regulations promulgated thereunder) and (ii) cause any REMIC to
        fail to
        qualify as a REMIC under the Code or the imposition of any tax on “prohibited
        transactions” or “contributions” after the startup date under the REMIC
        Provisions.

       

      Prior
        to
        taking any action with respect to the Mortgage Loans which is not contemplated
        under the terms of this Agreement, the Servicer will obtain an Opinion of
        Counsel acceptable to the Trustee with respect to whether such action could
        result in the imposition of a tax upon any REMIC (including but not limited
        to
        the tax on prohibited transactions as defined in Section 860F(a)(2) of the
        Code
        and the tax on contributions to a REMIC set forth in Section 860G(d) of the
        Code) (either such event, an “Adverse REMIC Event”), and the Servicer shall not
        take any such action or cause the Trust Fund to take any such action as to
        which
        it has been advised that an Adverse REMIC Event could occur.

       

      The
        Servicer shall not permit the creation of any “interests” (within the meaning of
        Section 860G of the Code) in any REMIC. The Servicer shall not enter into
        any
        arrangement by which a REMIC will receive a fee or other compensation for
        services nor permit a REMIC to receive any income from assets other than
        “qualified mortgages” as defined in Section 860G(a)(3) of the Code or “permitted
        investments” as defined in Section 860G(a)(5) of the Code.”

       

      The
        following is added to the end of the first paragraph of Section 11.04 of
        the
        Mortgage Loan Sale and Servicing Agreement:

       

      “Each
        Custodial Account shall be an Eligible Account.”

       

      The
        following is added to the end of the first paragraph of Section 11.06 of
        the
        Mortgage Loan Sale and Servicing Agreement:

       

      “Each
        Escrow Account shall be an Eligible Account.”

       

      The
        following is added as paragraph (d) of Subsection 11.13 of the Mortgage Loan
        Sale and Servicing Agreement:

       

      “Any
        REO
        Property shall be disposed of by the Servicer before the close of the third
        taxable year following the taxable year in which the Mortgage Loan became
        an REO
        Property, unless the Servicer is otherwise directed by the
        Assignee.”

       

      The
        following is added as the second paragraph of Subsection 11.14 of the Mortgage
        Loan Sale and Servicing Agreement:

       

      "The
        Servicer shall not waive (or permit a subservicer to waive) any Prepayment
        Penalty unless: (i) the enforceability thereof shall have been limited by
        bankruptcy, insolvency, moratorium, receivership and other similar laws relating
        to creditors’ rights generally, (ii) the enforcement thereof is illegal, or any
        local, state or federal agency has threatened legal action if the prepayment
        penalty is enforced, (iii) the mortgage debt has been accelerated in connection
        with a foreclosure or other involuntary payment or (iv) such waiver is standard
        and customary in servicing similar Mortgage Loans and relates to a default
        or a
        reasonably foreseeable default and would, in the reasonable judgment of the
        Servicer, maximize recovery of total proceeds taking into account the value
        of
        such Prepayment Penalty and the related Mortgage Loan. In no event will the
        Servicer waive a Prepayment Penalty in connection with a refinancing of a
        Mortgage Loan that is not related to a default or a reasonably foreseeable
        default. If a Prepayment Penalty is waived, but does not meet the standards
        described above, then the Servicer is required to pay the amount of such
        waived
        Prepayment Penalty by depositing such amount into the Custodial Account by
        the
        immediately succeeding Remittance Date."

       

      The
        phrase “in a form acceptable for filing with the Securities and Exchange
        Commission as an exhibit to a Form 10-K” shall be added following the phrase “an
        Officer’s Certificate” in Subsection 11.20(a) of the Mortgage Loan Sale and
        Servicing Agreement.

       

      The
        phrase “in a form acceptable for filing with the Securities and Exchange
        Commission as an exhibit to a Form 10-K” shall be added following the phrase “to
        furnish a statement” in Subsection 11.21 of the Mortgage Loan Sale and Servicing
        Agreement.

       

      The
        following shall be added as Section 11.26 of the Mortgage Loan Sale and
        Servicing Agreement:

       

      Section
        11.26 Fair
        Credit Reporting Act.

       

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

       

      The
        word
“or” at the end of paragraph (f) of Subsection 13.01 is deleted and the word
“or” is added following the semi-colon contained at the end of paragraph (g) of
        Subsection 13.01.

       

      The
        following is added as paragraph (h) of Subsection 13.01 of the Mortgage Loan
        Sale and Servicing Agreement:

       

      “(h)
         failure
        by the Company to duly perform within the required time period, its obligations
        under Subsections 11.20, 11.21 and Section 2.05 of the Reg AB Addendum, which
        failure continues unremedied for a period of ten (10) days after the date
        on
        which written notice of such failure, requiring the same to be remedied,
        shall
        have been given to the Servicer by any party to this Mortgage Loan Sale and
        Servicing Agreement or by any Master Servicer responsible for master servicing
        the Mortgage Loans pursuant to a securitization of such Mortgage
        Loans;”

       

      The
        following is added as Section 32 of the Mortgage Loan Sale and Servicing
        Agreement:

       

      SECTION
        32. Third
        Party Beneficiary.

       

      For
        purposes of this Agreement, any Master Servicer shall be considered a third
        party beneficiary to this Agreement entitled to all the rights and benefits
        accruing to any Master Servicer herein as if it were a direct party to this
        Agreement.

       

      Miscellaneous

       

      10.  All
        demands, notices and communications related to the Assigned Loans, the Mortgage
        Loan Sale and Servicing Agreement and this AAR Agreement shall be in writing
        and
        shall be deemed to have been duly given if personally delivered at or mailed
        by
        registered mail, postage prepaid, as follows:

       

      
        	a.  	
                In
                  the case of Company,

              

      

       

      Bank
        of
        America, National
        Association

      201
        North
        Tryon Street

      Charlotte,
        North Carolina 28255

      Attention:
        Secondary Marketing Manager

       

      
        	b.  	
                In
                  the case of Assignor,

              

      

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        President or General Counsel

      Telecopier
        No.: (972) 444-2880

       

      With
        a
        copy to:

      

      Bear
        Stearns Mortgage Capital Corporation

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        Michelle Sterling

       

      
        	c.  	
                In
                  the case of the Securities
                  Administrator,

              

      

       

      Wells
        Fargo Bank, N.A.

      P.O.
        Box
        98

      Columbia,
        Maryland 21046

       

      or,
        if by
        overnight delivery to:

       

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045,

      Attention:
        Client Manager BSARM 2006-2

      Telecopier
        No.: (410) 715-2380

       

      
        	d.  	
                In
                  the case of Assignee,

              

      

       

      U.S.
        Bank
        National Association, as Trustee

      One
        Federal Street, 3rd
        Floor

      Boston,
        MA 02110

      Attention:
        Corporate Trust Services 

      BSARM
        2006-2

      Telecopier
        No.: (617) 603-6638

       

      11.  Each
        party will pay any commissions it has incurred and the Assignor shall pay
        the
        fees of its attorneys and the reasonable fees of the attorneys of the Assignee
        and the Company in connection with the negotiations for, documenting of and
        closing of the transactions contemplated by this AAR Agreement.

       

      12.  This
        AAR
        Agreement shall be construed in accordance with the laws of the State of
        New
        York, without regard to conflicts of law principles, and the obligations,
        rights
        and remedies of the parties hereunder shall be determined in accordance with
        such laws.

       

      13.  No
        term
        or provision of this AAR Agreement may be waived or modified unless such
        waiver
        or modification is in writing and signed by the party against whom such waiver
        or modification is sought to be enforced.

       

      14.  This
        AAR
        Agreement shall inure to the benefit of the successors and assigns of the
        parties hereto. Any entity into which Assignor, Assignee or Company may be
        merged or consolidated shall, without the requirement for any further writing,
        be deemed Assignor, Assignee or Company, respectively, hereunder.

       

      15.  This
        AAR
        Agreement shall survive the conveyance of the Assigned Loans, the assignment
        of
        the Mortgage Loan Sale and Servicing Agreement to the extent of the Assigned
        Loans by Assignor to Assignee and the termination of the Mortgage Loan Sale
        and
        Servicing Agreement.

       

      16.  This
        AAR
        Agreement may be executed simultaneously in any number of counterparts. Each
        counterpart shall be deemed to be an original and all such counterparts shall
        constitute one and the same instrument.

       

      17.  In
        the
        event that any provision of this AAR Agreement conflicts with any provision
        of
        the Mortgage Loan Sale and Servicing Agreement with respect to the Assigned
        Loans, the terms of this AAR Agreement shall control.

       

      18.  The
        Company hereby acknowledges that Wells Fargo Bank, N.A. has been appointed
        as
        the Master Servicer of the Mortgage Loans pursuant to the Pooling and Servicing
        Agreement, dated as of May 1, 2006, among Structured Asset Mortgage Investments
        II Inc. (“SAMI II”), the Assignor, Wells Fargo Bank, N.A. and the Assignee and
        that the Master Servicer has the right to enforce all obligations of the
        Company
        under the Mortgage Loan Sale and Servicing Agreement with respect to the
        servicing of the Assigned Loans. Such right will include, without limitation,
        the right to terminate the Company under the Mortgage Loan Sale and Servicing
        Agreement as provided therein, the right to receive all remittances required
        to
        be made by the Company under the Mortgage Loan Sale and Servicing Agreement,
        the
        right to receive all monthly reports and other data required to be delivered
        by
        the Company under the Mortgage Loan Sale and Servicing Agreement, the right
        to
        examine the books and records of the Company, indemnification rights, and
        the
        right to exercise certain rights of consent and approval relating to actions
        taken by the Company. Bank of America, National Association shall make all
        distributions under the Mortgage Loan Sale and Servicing Agreement to the
        Master
        Servicer by wire transfer of immediately available funds to:

       

      Bear
        Stearns BSARM 2006-2 Master Servicer Collection Account

      Wells
        Fargo Bank, N.A.

      ABA#
        121000248

      Account
        Name: SAS Clearing 

      Account
        #
        3970771416

      For
        Further Credit to: BSARM 2006-2, Account # 50920200

       

      and
        the
        Company shall deliver all reports required to be delievered under the Mortgage
        Loan Sale and Servicing Agreement to the Assignee at the address set forth
        in
        Section 9 herein and to the Master Servicer at:

       

      Wells
        Fargo Bank, N.A. 

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-2

      Telecopy
        No.: (410) 715-2380

       

       

      
        
          
             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this AAR Agreement as of
        the
        day and year first above written.

       

      
        	
                EMC
                  MORTGAGE CORPORATION,

                Assignor

              	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	
                 

                Name:  

                Title:

              	
                

              	 	 	
              
	 	 	 	 	 

      

       

      
        
          
            	
                    
                      U.S.
                        BANK NATIONAL BANK,

                      not
                        individually but solely trustee for the holders of Bear Stearns
                        

                      ARM
                        Trust, Mortgage Pass-Through Certificates, Series 2006-2,

                      Assignee

                    

                  	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	
                     

                    Name:  

                    Title:

                  	
                    

                  	 	 	
                  
	 	 	 	 	 

          

           

          
            
              
                
                  	
                          
                            
                              BANK
                                OF AMERICA, NATIONAL
                                ASSOCIATION,

                              Company

                            

                          

                        	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	
                           

                          Name:  

                          Title:

                        	
                          

                        	 	 	
                        
	 	 	 	 	 

                

                 

              

            

          

        

      

      
        
          
            	
                    
                      
                        
                          ACKNOWLEDGED:

                          WELLS
                            FARGO BANK, N.A.

                        

                      

                    

                  	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	
                     

                    Name:  

                    Title:

                  	
                    

                  	 	 	
                  
	 	 	 	 	 

          

           

        

      

       

      
        
          
             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      ATTACHMENT
        1

       

      ASSIGNED
        LOAN SCHEDULE

       

      [Provided
        Upon Request]

       

      
        
          
          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      ATTACHMENT
        2

       

      AMENDED
        AND RESTATED FLOW MORTGAGE LOAN MORTGAGE LOAN SALE AND SERVICING AGREEMENT,
        dated April 1, 2005, between Bank of America, National Association, and EMC
        Mortgage Corporation.

       

      [Provided
        Upon Request]

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      THIS
        ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (the “Assignment
        and Assumption Agreement”), dated as of May 1, 2006, by EMC Mortgage
        Corporation, a Delaware corporation (the “Assignor”), U.S. Bank National
        Association, not individually but solely as trustee for the holders of Bear
        Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2006-2 (the
        “Assignee”) and Wells Fargo Bank, N.A. (the “Company”).

       

      Whereas
        the Assignor purchased certain mortgage loans listed on Exhibit A attached
        hereto (the "Mortgage Loans" ) from the Company pursuant to that certain
        (i)
        Amended and Restated Master Mortgage Loan Purchase Agreement dated as of
        November 1, 2005 (the "Mortgage Loan Purchase Agreement"), by and between
        the
        Company and the Assignor, (ii) Assignment and Conveyance Agreement dated
        as of
        November 29, 2005 between the Company and the Assignor (the "November
        Assignment and Conveyance Agreement") and (iii) Assignment and Conveyance
        Agreement dated as of February 27, 2006 between the Company and the Assignor
        (the "February Assignment and Conveyeance Agreement" and together with the
        November Assignment and Conveyance Agreement, the "Assignment and Conveyance
        Agreement"); and

       

      Whereas
        the Assignor and the Company entered into that certain Amended and Restated
        Master Seller’s Warranties and Servicing Agreement dated as of November 1, 2005
        (the “Warranties and Servicing Agreement”), pursuant to which the Company
has
        serviced the Mortgage Loans and will continue to service the Mortgage Loans.
        

       

      In
        consideration of the mutual promises and agreements contained herein, and
        for
        other good and valuable consideration, the receipt and sufficiency of which
        are
        hereby acknowledged, the parties hereto agree that the Mortgage Loans now
        serviced by the Company for the Assignor and its successors and assigns pursuant
        to the Warranties and Servicing Agreement shall be subject to the terms of
        this
        Assignment and Assumption Agreement. Capitalized terms used herein but not
        otherwise defined shall have the meanings assigned to them in the Warranties
        and
        Servicing Agreement.

       

      Assignment
        and Assumption

       

      1.  Except
        as
        expressly provided for herein, the Assignor hereby grants, transfers and
        assigns
        to the Assignee all of its right, title and interest in, to and under
(a)
        the
        Mortgage Loans and (b) the Warranties and Servicing Agreement with respect
        to
        the Mortgage Loans; provided, however, that the Assignor is not assigning
        to the
        Assignee any of its right, title and interest, to and under the Warranties
        and
        Servicing Agreement with respect to any mortgage loan other than the Mortgage
        Loans listed on Exhibit
        A.
        Notwithstanding anything to the contrary contained herein, the Assignor
        specifically reserves and does not assign to the Assignee any right, title
        and
        interest in, to or under the representations and warranties contained in
        Section
        3.01 and Section 3.02 of the Warranties and Servicing Agreement, and any
        obligation of the Company to cure, repurchase or substitute for a mortgage
        loan
        and to indemnify the Assignor with respect to a breach of such representations
        and warranties pursuant to Section 3.03 of the Warranties and Servicing
        Agreement, and the Assignor is retaining the right to enforce the
        representations and warranties and the obligations of the Company set forth
        in
        those sections against the Company. Except as is otherwise expressly provided
        herein, the Assignor makes no representations, warranties or covenants to
        the
        Assignee and the Assignee acknowledges that the Assignor has no obligations
        to
        the Assignee under the terms of the Warranties and Servicing Agreement or
        otherwise relating to the transaction contemplated herein (including, but
        not
        limited to, any obligation to indemnify the Assignee).

       

      Representations
        Warranties and Covenants

       

      2.  The
        Assignor warrants and represents to, and covenants with, the Assignee that
        as of
        the date hereof:

       

      
        	(a)  	
                Attached
                  hereto as Exhibit
                  B
                  are true and accurate copies of the Warranties and Servicing Agreement
                  and
                  Assignment and Conveyance Agreement, which agreements are in full
                  force
                  and effect as of the date hereof and the provisions of which have
                  not been
                  waived, further amended or modified in any respect, nor has any
                  notice of
                  termination been given thereunder;

              

      

       

      
        	(b)  	
                The
                  Assignor is the lawful owner of the Mortgage Loans with full right
                  to
                  transfer the Mortgage Loans and any and all of its interests, rights
                  and
                  obligations under the Warranties and Servicing Agreement as they
                  relate to
                  the Mortgage Loans, free and clear from any and all claims and
                  encumbrances; and upon the transfer of the Mortgage Loans to the
                  Assignee
                  as contemplated herein, Assignee shall have good title to each
                  and every
                  Mortgage Loan, as well as any and all of the Assignee’s interests, rights
                  and obligations under the Warranties and Servicing Agreement as
                  they
                  relate to the Mortgage Loans, free and clear of any and all liens,
                  claims
                  and encumbrances;

              

      

       

      
        	(c)  	
                There
                  are no offsets, counterclaims or other defenses available to the
                  Company
                  with respect to the Mortgage Loans or the Warranties and Servicing
                  Agreement;

              

      

       

      
        	(d)  	
                The
                  Assignor has no knowledge of, and has not received notice of, any
                  waivers
                  under, or any modification of, any Mortgage
                  Loan;

              

      

       

      
        	(e)  	
                The
                  Assignor is duly organized, validly existing and in good standing
                  under
                  the laws of the jurisdiction of its incorporation, and has all
                  requisite
                  power and authority to acquire, own and sell the Mortgage
                  Loans;

              

      

       

      
        	(f)  	
                The
                  Assignor has full corporate power and authority to execute, deliver
                  and
                  perform its obligations under this Assignment and Assumption Agreement,
                  and to consummate the transactions set forth herein. The consummation
                  of
                  the transactions contemplated by this Assignment and Assumption
                  Agreement
                  is in the ordinary course of the Assignor’s business and will not conflict
                  with, or result in a breach of, any of the terms, conditions or
                  provisions
                  of the Assignor’s charter or by-laws or any legal restriction, or any
                  material agreement or instrument to which the Assignor is now a
                  party or
                  by which it is bound, or result in the violation of any law, rule,
                  regulation, order, judgment or decree to which Assignor or its
                  property is
                  subject. The execution, delivery and performance by the Assignor
                  of this
                  Assignment and Assumption Agreement and the consummation by it
                  of the
                  transactions contemplated hereby, have been duly authorized by
                  all
                  necessary corporate action on part of the Assignor. This Assignment
                  and
                  Assumption Agreement has been duly executed and delivered by the
                  Assignor
                  and, upon the due authorization, execution and delivery by the
                  Assignee
                  and the Company, will constitute the valid and legally binding
                  obligation
                  of the Assignor enforceable against the Assignor in accordance
                  with its
                  terms except as enforceability may be limited by bankruptcy,
                  reorganization, insolvency, moratorium or other similar laws now
                  or
                  hereafter in effect relating to creditors’ rights generally, and by
                  general principles of equity regardless of whether enforceability
                  is
                  considered in a proceeding in equity or at
                  law;

              

      

       

      
        	(g)  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by the Assignor in connection with the execution, delivery
                  or
                  performance by the Assignor of this Assignment and Assumption Agreement,
                  or the consummation by it of the transactions contemplated hereby.
                  Neither
                  the Assignor nor anyone acting on its behalf has offered, transferred,
                  pledged, sold or otherwise disposed of the Mortgage Loans or any
                  interest
                  in the Mortgage Loans, or solicited any offer to buy or accept
                  a transfer,
                  pledge or other disposition of the Mortgage Loans, or any interest
                  in the
                  Mortgage Loans or otherwise approached or negotiated with respect
                  to the
                  Mortgage Loans, or any interest in the Mortgage Loans with any
                  Person in
                  any manner, or made any general solicitation by means of general
                  advertising or in any other manner, or taken any other action which
                  would
                  constitute a distribution of the Mortgage Loans under the Securities
                  Act
                  of 1933, as amended (the “1933 Act”)
                  or
                  which would render the disposition of the Mortgage Loans a violation
                  of
                  Section 5 of the 1933 Act or require registration pursuant thereto;
                  and
                  

              

      

       

      
        	(h)  	
                The
                  Assignor has received from the Company, and has delivered to the
                  Assignee,
                  all documents required to be delivered to the Assignor by the Company
                  prior to the date hereof pursuant to the Warranties and Servicing
                  Agreement with respect to the Mortgage Loans and has not received,
                  and has
                  not requested from the Company, any additional documents.
                  

              

      

       

      3.  The
        Assignee
        warrants and represents to, and covenants with, Assignor and Company as of
        the
        date hereof:

       

      
        	(a)  	
                The
                  Assignee
                  is duly organized, validly existing and in good standing under
                  the laws of
                  the jurisdiction of its organization and has all requisite power
                  and
                  authority to hold the Mortgage Loans on behalf of the holders of
                  Bear
                  Stearns ARM Trust, Mortgage Pass-Through Certificates, Series
                  2006-2;

              

      

       

      
        	(b)  	
                The
                  Assignee has full corporate power and authority to execute, deliver
                  and
                  perform under this Assignment and Assumption Agreement, and to
                  consummate
                  the transactions set forth herein. The consummation of the transactions
                  contemplated by this Assignment and Assumption Agreement is in
                  the
                  ordinary course of the Assignee’s business and will not conflict with, or
                  result in a breach of, any of the terms, conditions or provisions
                  of the
                  Assignee’s charter or by-laws or any legal restriction, or any material
                  agreement or instrument to which the Assignee is now a party or
                  by which
                  it is bound, or result in the violation of any law, rule, regulation,
                  order, judgment or decree to which the Assignee or its property
                  is
                  subject. The execution, delivery and performance by the Assignee
                  of this
                  Assignment and Assumption Agreement and the consummation by it
                  of the
                  transactions contemplated hereby, have been duly authorized by
                  all
                  necessary corporate action on part of the Assignee. This Assignment
                  and
                  Assumption Agreement has been duly executed and delivered by the
                  Assignee
                  and, upon the due authorization, execution and delivery by the
                  Assignor
                  and the Company, will constitute the valid and legally binding
                  obligation
                  of Assignee enforceable against the Assignee in accordance with
                  its terms
                  except as enforceability may be limited by bankruptcy, reorganization,
                  insolvency, moratorium or other similar laws now or hereafter in
                  effect
                  relating to creditors’ rights generally, and by general principles of
                  equity regardless of whether enforceability is considered in a
                  proceeding
                  in equity or at law;

              

      

       

      
        	(c)  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by the Assignee in connection with the execution, delivery
                  or
                  performance by the Assignee of this Assignment and Assumption Agreement,
                  or the consummation by it of the transactions contemplated hereby;
                  and

              

      

       

      
        	(d)  	
                The
                  Assignee assumes all of the rights of the Purchaser under the Warranties
                  and Servicing Agreement with respect to the Mortgage Loans other
                  than the
                  right to enforce the obligations of the Company under the Warranties
                  and
                  Servicing Agreement.

              

      

       

      4.  The
        Company
        warrants and represents to, and covenants with, the Assignor and the Assignee
        as
        of the date hereof:

       

      
        	(a)  	
                Attached
                  hereto as Exhibit
                  B
                  are true and accurate copies of the Warranties and Servicing Agreement
                  and
                  Assignment and Conveyance Agreement, which agreements are in full
                  force
                  and effect as of the date hereof and the provisions of which have
                  not been
                  waived, further amended or modified in any respect, nor has any
                  notice of
                  termination been given thereunder;

              

      

       

      
        	(b)  	
                The
                  Company is a national banking association duly organized, validly
                  existing
                  and in good standing under the laws of the United States, and has
                  all
                  requisite power and authority to service the Mortgage Loans and
                  otherwise
                  to perform its obligations under the Warranties and Servicing
                  Agreement;

              

      

       

      
        	(c)  	
                The
                  Company has full power and authority to execute, deliver and perform
                  its
                  obligations under this Assignment and Assumption Agreement, and
                  to
                  consummate the transactions set forth herein. The consummation
                  of the
                  transactions contemplated by this Assignment and Assumption Agreement
                  is
                  in the ordinary course of the Company’s business and will not conflict
                  with, or result in a breach of, any of the terms, conditions or
                  provisions
                  of the Company’s charter or by-laws or any legal restriction, or any
                  material agreement or instrument to which the Company is now a
                  party or by
                  which it is bound, or result in the violation of any law, rule,
                  regulation, order, judgment or decree to which the Company or its
                  property
                  is subject. The execution, delivery and performance by the Company
                  of this
                  Assignment and Assumption Agreement and the consummation by it
                  of the
                  transactions contemplated hereby, have been duly authorized by
                  all
                  necessary action on part of the Company. This Assignment and Assumption
                  Agreement has been duly executed and delivered by the Company,
                  and, upon
                  the due authorization, execution and delivery by Assignor and Assignee,
                  will constitute the valid and legally binding obligation of Company,
                  enforceable against the Company in accordance with its terms except
                  as
                  enforceability may be limited by the effect of insolvency, liquidation,
                  conservatorship and other similar laws administered by the Federal
                  Deposit
                  Insurance Corporation affecting the enforcement of contract obligations
                  of
                  insured banks and subject to the application of the rules of
                  equity;

              

      

       

      
        	(d)  	
                No
                  consent, approval, order or authorization of, or declaration, filing
                  or
                  registration with, any governmental entity is required to be obtained
                  or
                  made by the Company in connection with the execution, delivery
                  or
                  performance by the Company of this Assignment and Assumption Agreement,
                  or
                  the consummation by it of the transactions contemplated hereby;
                  

              

      

       

      
        	(e)  	
                The
                  Company shall establish a Custodial Account and an Escrow Account
                  under
                  the Warranties and Servicing Agreement in favor of the Assignee
                  with
                  respect to the Mortgage Loans separate from the Custodial Account
                  and
                  Escrow Account previously established under the Warranties and
                  Servicing
                  Agreement in favor of Assignor; and

              

      

       

      
        	(f)  	
                Pursuant
                  to Section 9.01 of the Warranties and Servicing Agreement, the
                  Company
                  hereby restates the representations and warranties set forth in
                  Section
                  3.01 of the Warranties and Servicing Agreement with respect to
                  the Company
                  as of the date hereof. 

              

      

       

      5.  Company
        warrants and represents to, and covenants with, Assignor and Structured Asset
        Mortgage Investments II Inc. as of the date hereof:

       

      
        	(a)  	
                Company
                  is not aware and has not received notice that any default, early
                  amortization or other performance triggering event has occurred
                  as to any
                  other securitization due to any act or failure to act of the
                  Company;

              

      

       

      
        	(b)  	
                No
                  material noncompliance with the applicable servicing criteria with
                  respect
                  to other securitizations of residential mortgage loans involving
                  the
                  Company as servicer has been disclosed or reported by the
                  Company;

              

      

       

      
        	(c)  	
                Company
                  has not been terminated as servicer in a residential mortgage loan
                  securitization, either due to a servicing default or to application
                  of a
                  servicing performance test or
                  trigger;

              

      

       

      
        	(d)  	
                No
                  material changes to the Company’s policies or procedures with respect to
                  the servicing function it will perform under the Warranties and
                  Servicing
                  Agreement and this Assignment and Assumption Agreement for mortgage
                  loans
                  of a type similar to the Mortgage Loans have occurred during the
                  three-year period immediately preceding the date
                  hereof;

              

      

       

      
        	(e)  	
                There
                  are no aspects of the Company’s financial condition that could have a
                  material adverse effect on the performance by the Company of its
                  servicing
                  obligations under the Warranties and Servicing Agreement and this
                  Assignment and Assumption
                  Agreement;

              

      

       

      
        	(f)  	
                There
                  are no material legal or governmental proceedings pending (or known
                  to be
                  contemplated) against the Company, any Subservicer or any Third-Party
                  Originator; and

              

      

       

      
        	(g)  	
                Except
                  for the parties listed on the attached Exhibit G, there are no
                  affiliations, relationships or transactions relating to the Company
                  or any
                  Subservicer with respect to this Securitization Transaction and
                  any party
                  thereto of a type described in Item 1119 of Regulation
                  AB.

              

      

       

      6.  Assignor
        hereby
        agrees to indemnify and hold the Assignee (and its successors and assigns)
        harmless against any and all claims, losses, penalties, fines, forfeitures,
        legal fees and related costs, judgments, and any other costs, fees and expenses
        that Assignee (and its successors and assigns) may sustain in any way related
        to
        any breach of the representations or warranties of Assignor set forth in
        this
        Assignment and Assumption Agreement or the breach of any covenant or condition
        contained herein.

       

      7.  The
        Company hereby acknowledges that Wells Fargo Bank, N.A. and any successor
        thereto (the “Master Servicer”), has been appointed as master servicer of the
        Mortgage Loans pursuant to the Pooling and Servicing Agreement dated as of
        May
        1, 2006 the “Pooling and Servicing Agreement”), among Structured Asset Mortgage
        Investments II Inc., the Assignor, the Assignee and the Master Servicer,
        and
        therefore has the right to enforce all obligations of the Company under the
        Warranties and Servicing Agreement. Such right will include, without limitation,
        the right to receive all remittances required to be made by the Company under
        the Warranties and Servicing Agreement, the right to receive all monthly
        reports
        and other data required to be delivered by the Company under the Warranties
        and
        Servicing Agreement, the right to examine the books and records of the Company,
        indemnification rights, and the right to exercise certain rights of consent
        and
        approval relating to actions taken by the Company. The Company hereby
        acknowledges that the Master Servicer shall be obligated to notify the Assignee
        in accordance with the Pooling and Servicing Agreement upon the discovery
        of an
        event of default by the Company of its obligations under the Warranties and
        Servicing Agreement and the Assignee shall have the right to terminate the
        Company as servicer under the Warranties and Servicing Agreement upon the
        occurrence of such an event of default.

       

      8.  Notwithstanding
        any term hereof to the contrary, the execution and delivery of this Assignment
        and Assumption Agreement by the Assignee is solely in its capacity as trustee
        for Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2006-2
        and not individually, and any recourse against the Assignee in respect of
        any
        obligations it may have under or pursuant to the terms of this Assignment
        and
        Assumption Agreement shall be limited solely to the assets it may hold as
        trustee of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series
        2006-2.

       

      Recognition
        of Assignee

       

      9.  From
        and
        after the date hereof, Company shall recognize Assignee as owner of
        the
        Mortgage
        Loans and will service the Mortgage Loans for Assignee as if Assignee and
        Company had entered into a separate servicing agreement for the servicing
        of the
        Mortgage Loans in the form of the Warranties and Servicing Agreement (as
        modified herein), the terms of which are incorporated herein by reference.
        Notwithstanding anything to the contrary contained herein or in the Warranties
        and Servicing Agreement, Company acknowledges that the Mortgage Loans will
        be
        part of a REMIC and hereby agrees that in no event will it service the Mortgage
        Loans in a manner that would (i) cause any REMIC to fail to qualify as a
        REMIC
        or (ii) result in the imposition of a tax upon any REMIC (including but not
        limited to the tax on prohibited transactions as defined in Section 860F(a)(2)
        of the Code and the tax on contributions to a REMIC set forth in Section
        860G(d)
        of the Code). It is the intention of Assignor, Company and Assignee that
        this
        Assignment and Assumption Agreement shall be binding upon and for the benefit
        of
        the respective successors and assigns of the parties hereto. Neither Company
        nor
        Assignor shall amend or agree to amend, modify, waive, or otherwise alter
        any of
        the terms or provisions of the Warranties and Servicing Agreement which
        amendment, modification, waiver or other alteration would in any way affect
        the
        Mortgage Loans without the prior written consent of Assignee.

       

      Modification
        of the
        Warranties and
        Servicing Agreement

       

      10.  The
        Company and Assignor hereby amend the Warranties
        and Servicing
        Agreement as follows:

       

      (a) The
        following definitions shall be added to Article I of the Warranties
        and Servicing
        Agreement: 

       

      Assignee:
        U.S.
        Bank National Association, as trustee for the holders of Bear Stearns ARM
        Trust,
        Mortgage Pass-Through Certificates, Series 2006-2.

       

      Master
        Servicer:
        With
        respect to any Securitization Transaction, the “master servicer,” if any,
        identified in the related transaction documents.

       

      Nonrecoverable
        Advance:
        Any
        advance previously made by the Company pursuant to Section 5.03 or any Servicing
        Advance which, in the good faith judgment of the Company, may not be ultimately
        recoverable by the Company from Liquidation Proceeds or otherwise. The
        determination by the Company that it has made a Nonrecoverable Advance, shall
        be
        evidenced by an Officer’s Certificate of the Company delivered to the Master
        Servicer and detailing the reasons for such determination.

       

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

       

      Securities
        Administrator:
        With
        respect to any Securitization Transaction, the “securities administrator,” if
        any, identified in the related transaction documents.

       

      Trustee:
        U.S.
        Bank National Association.

       

      (b) The
        definition of Principal Prepayment in Article I of the Warranties and Servicing
        Agreement is deleted in its entirety and replaced with the
        following:

       

      Principal
        Prepayment:
        Any
        payment or other recovery of principal on a Mortgage Loan which is received
        in
        advance of its scheduled Due Date, including any Prepayment Charge and which
        is
        not accompanied by an amount of interest representing scheduled interest
        due on
        any date or dates in any month or months subsequent to the month of
        prepayment.

       

      (c) The
        definition of “Qualified Depository” in the Warranties and Servicing Agreement
        shall be modified by deleting the word “A-1” and replacing it with the word
“A-1+”.

       

      (d) Article
        III of the Warranties and Servicing Agreement is hereby amended effective
        as of
        the date hereof by deleting Section 3.01(l) in its entirety and replacing
        it
        with the following:

       

      (l) No
        Material Change.
        

       

      There
        has
        been no material adverse change in the servicing policies and procedures,
        business, operations, financial condition or assets of the Company since
        the
        date of the Company’s most recent financial statements that would have a
        material adverse effect on its ability to perform its obligations under this
        Agreement;

       

      (e) Article
        IV of the Warranties and Servicing Agreement is hereby amended effective
        as of
        the date hereof by deleting “, and the Company shall not commence foreclosure
        proceedings if the Purchaser objects to such action within three (3) Business
        Days of receiving such notice” in first paragraph of Section 4.02.

       

      (f) Article
        IV of the Warranties and Servicing Agreement is hereby amended effective
        as of
        the date hereof by adding the following paragraph to Section 4.03:

       

      The
        Company shall not waive any Prepayment Charge unless: (i) the enforceability
        thereof shall have been limited by bankruptcy, insolvency, moratorium,
        receivership and other similar laws relating to creditors’ rights generally,
        (ii) the enforcement thereof is illegal, or any local, state or federal agency
        has threatened legal action if the prepayment penalty is enforced, (iii)
        the
        mortgage debt has been accelerated in connection with a foreclosure or other
        involuntary payment or (iv) such waiver is standard and customary in servicing
        similar Mortgage Loans and relates to a default or a reasonably foreseeable
        default and would, in the reasonable judgment of the Company, maximize recovery
        of total proceeds taking into account the value of such Prepayment Charge
        and
        the related Mortgage Loan. If a Prepayment Charge is waived, but does not
        meet
        the standards described above, then the Company is required to pay the amount
        of
        such waived Prepayment Charge by remitting such amount to the Purchaser by
        the
        Remittance Date.

       

      (g) Article
        IV of the Warranties and Servicing Agreement is hereby amended by replacing
        the
        second paragraph of Section 4.04 with the following:

       

      The
        Company shall deposit in a mortgage clearing account on a daily basis, and
        in
        the Custodial Account within (2) Business Days after the Company’s receipt of
        such funds, and retain therein, the following collections received by the
        Company and payments made by the Company after the related Cut-off Date,
        other
        than payments of principal and interest due on or before the related Cut-off
        Date, or received by the Company prior to the related Cut-off Date but allocable
        to a period subsequent thereto:

       

      (h) The
        following is added as Subsection 4.05(x) of the Warranties
        and
        Servicing Agreement:

       

      “(x)
        to
        reimburse itself for any Nonrecoverable Advances;”

       

      (i) Article
        IV of the Warranties and Servicing Agreement is hereby amended by replacing
        the
        second paragraph of Section 4.06 with the following:

       

      The
        Company shall deposit in a mortgage clearing account on a daily basis, and
        in
        the Escrow Account or Accounts within two (2) Business Days after the Company’s
        receipt of such funds, and retain therein:

       

      (j) Article
        IV of the Warranties
        and Servicing Agreement is hereby amended by replacing Section 4.25 with
        the
        following:

       

      The
        Company shall not hire or otherwise utilize the services of any Subservicer
        to
        fulfill any of the obligations of the Company as servicer under this Agreement
        or any Reconstitution Agreement unless the Company complies with the provisions
        of paragraph (a) of this Section 4.25. The Company shall not hire or otherwise
        utilize the services of any Subcontractor, and shall not permit any Subservicer
        to hire or otherwise utilize the services of any Subcontractor, to fulfill
        any
        of the obligations of the Company as servicer under this Agreement or any
        Reconstitution Agreement unless the Company complies with the provisions
        of
        paragraph (b) of this Section 4.25.

       

      (a) It
        shall
        not be necessary for the Company to seek the consent of the Purchaser, any
        Master Servicer or any Depositor to the utilization of any Subservicer. The
        Company shall cause any Subservicer used by the Company (or by any Subservicer)
        for the benefit of the Purchaser and any Depositor to comply with the provisions
        of this Section 4.25 and with Sections 6.04, 6.06, 9.01(e)(iii), 9.01(e)(v),
        9.01(e)(vi), 9.01(e)(vii), 9.01(e)(viii) and 9.01(f) of this Agreement to
        the
        same extent as if such Subservicer were the Company, and to provide the
        information required with respect to such Subservicer under Section 9.01(e)(iv)
        of this Agreement. The Company shall be responsible for obtaining from each
        Subservicer and delivering to the Purchaser and any Depositor any servicer
        compliance statement required to be delivered by such Subservicer under Section
        6.04 and any assessment of compliance and attestation required to be delivered
        by such Subservicer under Section 6.06 and any certification required to
        be
        delivered to the Person that will be responsible for signing the Sarbanes
        Certification under Section 6.06 as and when required to be
        delivered.

       

      (b) It
        shall
        not be necessary for the Company to seek the consent of the Purchaser, any
        Master Servicer or any Depositor to the utilization of any Subcontractor.
        The
        Company shall promptly upon request provide to the Purchaser, any Master
        Servicer and any Depositor (or any designee of the Depositor, such as an
        administrator) a written description (in form and substance satisfactory
        to the
        Purchaser, such Depositor and such Master Servicer) of the role and function
        of
        each Subcontractor utilized by the Company or any Subservicer, specifying
        (i)
        the identity of each such Subcontractor, (ii) which (if any) of such
        Subcontractors are “participating in the servicing function” within the meaning
        of Item 1122 of Regulation AB, and (iii) which elements of the Servicing
        Criteria will be addressed in assessments of compliance provided by each
        Subcontractor identified pursuant to clause (ii) of this paragraph.

       

      As
        a
        condition to the utilization of any Subcontractor determined to be
“participating in the servicing function” within the meaning of Item 1122 of
        Regulation AB, the Company shall cause any such Subcontractor used by the
        Company (or by any Subservicer) for the benefit of the Purchaser and any
        Depositor to comply with the provisions of Sections 6.06 and 9.01(f) of this
        Agreement to the same extent as if such Subcontractor were the Company. The
        Company shall be responsible for obtaining from each Subcontractor and
        delivering to the Purchaser and any Depositor any assessment of compliance
        and
        attestation and the other certifications required to be delivered by such
        Subservicer and such Subcontractor under Section 6.06, in each case as and
        when
        required to be delivered.

       

      (k) Article
        V
        of the Warranties and Servicing Agreement is hereby amended effective as
        of the
        date hereof by deleting Section 5.02 in its entirety and replacing it with
        the
        following:

       

      Section
        5.02 Statements
        to the Purchaser.

       

      No
        later
        than the tenth (10th)
        calendar day (or if such tenth (10th)
        day is
        not a Business Day, the first Business Day immediately preceding such tenth
        (10th
        day) of
        each month, the Company shall furnish to the Master Servicer an electronic
        file
        containing the data specified in Exhibit
        I,
        which
        data shall reflect information as to the period ending on the last day of
        the
        preceding month, Exhibit
        J
        with
        respect to defaulted mortgage loans and Exhibit
        K,
        with
        respect to realized losses and gains, with each such report.

       

      (l) Section
        6.02 (Satisfaction of Mortgages and Release of Mortgage Loan Documents) of
        the
        Warranties and Servicing Agreement is hereby amended by adding “(other than as a
        result of a modification of the Mortgage pursuant to this Agreement or a
        liquidation of the Mortgaged Property pursuant to the terms of this Agreement)”
after “secured by the Mortgage” in the second paragraph.

       

      (m) Section
        6.04 of
        the
        Warranties and Servicing Agreement
        (Annual
        Statements as to Compliance) is hereby amended as follows:

       

      (1) delete
        paragraph (i) in its entirety;

       

      (2) delete
        the reference to “(ii)” at the beginning of the section paragraph;
        and

       

      (3) Delete
        the references to “the Purchaser and any Depositor” and replace each with “the
        Master Servicer”.

       

      (n) Section
        6.05 of the Warranties and Servicing Agreement (Annual Independent Public
        Accountants’ Servicing Report) is deleted in its entirety.

       

      (o) Section
        6.06 of the Warranties and Servicing Agreement (Report on Assessment of
        Compliance and Attestation) is hereby amended by replacing the references
        to
“the Purchaser and any Depositor” with “the Master Servicer” and “the Purchaser
        and such Depositor” with “the Master Servicer”.

       

      (p) Section
        6.07(i) of the Warranties and Servicing Agreement is hereby amended by deleting
        the reference to “Section 6.05”.

       

      (q) Section
        6.07(ii) of the Warranties and Servicing Agreement is hereby amended
        by
        replacing the references to “Purchaser or Depositor” with “Purchaser, any Master
        Servicer or any Depositor”, “Subcontract” with “Subcontractor” and deleting the
        reference to “Section 6.05”.

       

      (r) The
        following are added as the second, third and fourth paragraphs of Section
        6.09
        of the Warranties
        and Servicing
        Agreement:

       

      “Notwithstanding
        anything in this Agreement to the contrary, the Company (a) shall not permit
        any
        modification with respect to any Mortgage Loan that would change the Mortgage
        Interest Rate and (b) shall not (unless the Mortgagor is in default with
        respect
        to the Mortgage Loan or such default is, in the judgment of the Company,
        reasonably foreseeable) make or permit any modification, waiver or amendment
        of
        any term of any Mortgage Loan that would both effect an exchange or reissuance
        of such Mortgage Loan under Section 1001 of the Code (or Treasury regulations
        promulgated thereunder).

       

      Prior
        to
        taking any action with respect to the Mortgage Loans which is not contemplated
        under the terms of this Agreement, the Company will obtain an Opinion of
        Counsel
        reasonably acceptable to the Securities Administrator with a copy to the
        Trustee
        with respect to whether such action could result in the imposition of a tax
        upon
        the REMIC (including but not limited to the tax on prohibited transactions
        as
        defined in Section 860F(a)(2) of the Code and the tax on contributions to
        a
        REMIC set forth in Section 860G(d) of the Code) (either such event, an “Adverse
        REMIC Event”), and the Company shall not take any such action or cause the Trust
        Fund to take any such action as to which it has been advised that an Adverse
        REMIC Event could occur.

       

      The
        Company shall not permit the creation of any “interests” (within the meaning of
        Section 860G of the Code) in the REMIC. The Company shall not enter into
        any
        arrangement by which the REMIC will receive a fee or other compensation for
        services nor permit the REMIC to receive any income from assets other than
        “qualified mortgages” as defined in Section 860G(a)(3) of the Code or “permitted
        investments” as defined in Section 860G(a)(5) of the Code.”

       

      (s) Article
        IX of the Warranties
        and Servicing
        Agreement is hereby amended effective as of the date hereof by replacing
        Section
        9.01(e)(iv) with the following:

       

      (iv) For
        the
        purpose of satisfying the reporting obligation under the Exchange Act with
        respect to any class of asset-backed securities, the Company shall (or shall
        cause each Subservicer and Third-Party Originator to) (1) provide prompt
        notice
        to the Purchaser, any Master Servicer and any Depositor in writing of (A)
        any
        material litigation or governmental proceedings involving the Company, any
        Subservicer or any Third-Party Originator, (B) any affiliations or relationships
        that develop following the closing date of a Securitization Transaction between
        the Company, any Subservicer or any Third-Party Originator and any of the
        parties specified in Section 9.01(e)(i)(D) (and any other parties identified
        in
        writing by the requesting party) with respect to such Securitization
        Transaction, (C) any Event of Default under the terms of this Agreement or
        any
        Reconstitution Agreement, (D) any merger, consolidation or sale of substantially
        all of the assets of the Company, and (E) the Company’s entry into an agreement
        with a Subservicer to perform or assist in the performance of any of the
        Company’s obligations under this Agreement or any Reconstitution Agreement, and
        (2) provide to the Purchaser and any Depositor a description of such
        proceedings, affiliations or relationships.

       

      Each
        such
        notice/update pursuant to this Section 9.01(e)(iv) should be sent by e-mail
        to
        regABnotifications@bear.com. Additionally, all notifications pursuant to
        this
        Section 9.01(e)(iv), other than those pursuant to Section 9.01(e)(iv)(A),
        should
        be sent to:

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

      

      With
        a
        copy to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

      

       

      Notifications
        pursuant to Section 9.01(e)(iv)(A) should be sent to: 

       

      EMC
        Mortgage Corporation

      Two
        Mac
        Arthur Ridge

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        TX 75038

      Attention:
        Associate General Counsel for Loan Administration

      Facsimile:
        (972) 831-2555

      

      With
        copies to:

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New,
        York, NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      (t) Section
        9.01(e)(v) of the Warranties and Servicing Agreement is hereby amended effective
        as of the date hereof, by replacing the references to “the Purchaser and any
        Depositor” with “the Purchaser, the Master Servicer and any Depositor” and “the
        Purchaser and such Depositor” with “the Purchaser, the Master Servicer and such
        Depositor”.

       

      (u) The
        third
        paragraph of Section 9.01 of the Warranties
        and Servicing
        Agreement is hereby amended effective as of the date hereof by replacing
        such
        section with the following:

       

      The
        Purchaser and the Company acknowledge and agree that the purpose of Section
        9.01(e) is to facilitate compliance by the Purchaser and any Depositor with
        the
        provisions of Regulation AB and related rules and regulations of the Commission.
        Although Regulation AB is applicable by its terms only to offerings of
        asset-backed securities that are registered under the Securities Act, the
        Company acknowledges that investors in privately offered securities may require
        that the Purchaser or any Depositor provide comparable disclosure in
        unregistered offerings. References in this Agreement to compliance with
        Regulation AB include provision of comparable disclosure in private offerings.
        

       

      Neither
        the Purchaser, the Master Servicer nor any Depositor shall exercise its right
        to
        request delivery of information or other performance under these provisions
        other than in good faith, or for purposes other than compliance with the
        Securities Act, the Exchange Act and the rules and regulations of the Commission
        thereunder (or the provision in a private offering of disclosure comparable
        to
        that required under the Securities Act). The Company acknowledges that
        interpretations of the requirements of Regulation AB may change over time,
        whether due to interpretive guidance provided by the Commission or its staff,
        consensus among participants in the asset-backed securities markets, advice
        of
        counsel, or otherwise, and agrees to comply with requests made by the Purchaser,
        the Master Servicer or any Depositor in good faith for delivery of information
        under these provisions on the basis of evolving interpretations of Regulation
        AB. In connection with any Securitization Transaction, the Company shall
        cooperate fully with the Purchaser and any Master Servicer to deliver to
        the
        Purchaser (including any of its assignees or designees), any Master Servicer
        and
        any Depositor, any and all statements, reports, certifications, records and
        any
        other information necessary in the good faith determination of the Purchaser,
        the Master Servicer or any Depositor to permit the Purchaser, such Master
        Servicer or such Depositor to comply with the provisions of Regulation AB,
        together with such disclosures relating to the Company, any Subservicer,
        any
        Third-Party Originator and the Mortgage Loans, or the servicing of the Mortgage
        Loans, reasonably believed by the Purchaser or any Depositor to be necessary
        in
        order to effect such compliance.

       

      The
        Purchaser (including any of its assignees or designees) shall cooperate with
        the
        Company by providing timely notice of requests for information under these
        provisions and by reasonably limiting such requests to information required,
        in
        the Purchaser’s reasonable judgment, to comply with Regulation AB.

       

      (v) Section
        9.01(e)(vii) of the Warranties and Servicing Agreement is hereby amended
        effective as of the date hereof by replacing such section with the following:
        

       

      (vii)
        In
        addition to such information as the Company, as servicer, is obligated to
        provide pursuant to other provisions of this Agreement, not later than ten
        (10)
        days prior to the deadline for the filing of any distribution report on Form
        10-D in respect of any Securitization Transaction that includes any of the
        Mortgage Loans serviced by the Company or any Subservicer, the Company or
        such
        Subservicer, as applicable, shall, to the extent the Company or such Subservicer
        has knowledge, provide to the party responsible for filing such report
        (including, if applicable, the Master Servicer) notice of the occurrence
        of any
        of the following events along with all information, data, and materials related
        thereto as may be required to be included in the related distribution report
        on
        Form 10-D (as specified in the provisions of Regulation AB referenced
        below):

       

      (A) any
        material modifications, extensions or waivers of pool asset terms, fees,
        penalties or payments during the distribution period or that have cumulatively
        become material over time (Item 1121(a)(11) of Regulation AB);

       

      (B) material
        breaches of pool asset representations or warranties or transaction covenants
        (Item 1121(a)(12) of Regulation AB); and

       

      (C) information
        regarding new asset-backed securities issuances backed by the same pool assets,
        any pool asset changes (such as, additions, substitutions or repurchases),
        and
        any material changes in origination, underwriting or other criteria for
        acquisition or selection of pool assets (Item 1121(a)(14) of Regulation
        AB).

       

      (w) Article
        IX of the Warranties and Servicing Agreement is hereby amended effective
        as of
        the date hereof by inserting the following new Section 9.01(e)(viii) as
        follows:

       

      (viii)
        The Company shall provide to the Purchaser, any Master Servicer and any
        Depositor, evidence of the authorization of the person signing any certification
        or statement, copies or other evidence of Fidelity Bond Insurance and Errors
        and
        Omission Insurance policy, financial information and reports, and such other
        information related to the Company or any Subservicer or the Company or such
        Subservicer’s performance hereunder.

       

      (x) Article
        IX of the Warranties and Servicing Agreement is hereby amended effective
        as of
        the date hereof by inserting the following after Section 9.01(e)(iii)(H)
        in its
        entirety as follows:

       

      (I) a
        description of any material legal or governmental proceedings pending (or
        known
        to be contemplated) against the Servicer; and

       

      (J) a
        description of any affiliation or relationship between the Servicer and any
        of
        the following parties to a Securitization Transaction, as such parties are
        identified to the Servicer by the Purchaser or any Depositor in writing in
        advance of such Securitization Transaction:

       

      (1) the
        sponsor;

      (2) the
        depositor;

      (3) the
        issuing entity;

      (4) any
        servicer;

      (5) any
        trustee;

      (6) any
        originator;

      (7) any
        significant obligor;

      (8) any
        enhancement or support provider; and

      (9) any
        other
        material transaction party.

       

      (y) Article
        IX of this Warranties and Servicing Agreement is hereby amended by replacing
        Section 9.01(f) with the following:

       

      
        	 	
                (f)

              	
                the
                  Company shall indemnify the Purchaser, each affiliate of the Purchaser,
                  and each of the following parties participating in a Securitization
                  Transaction; each sponsor and issuing entity; each Person (including,
                  but
                  not limited to, any Master Servicer, if applicable) responsible
                  for the
                  preparation, execution or filing of any report required to be filed
                  with
                  the Commission with respect to such Securitization Transaction,
                  or for
                  execution of a certification pursuant to Rule 13a-14(d) or Rule
                  15d-14(d)
                  under the Exchange Act with respect to such Securitization Transaction;
                  each broker dealer acting as underwriter, placement agent or initial
                  purchaser, each Person who controls any of such parties or the
                  Depositor
                  (within the meaning of Section 15 of the Securities Act and Section
                  20 of
                  the Exchange Act); and the respective present and former directors,
                  officers, employees, agents and affiliates of each of the foregoing
                  and of
                  the Depositor (each, an “Indemnified Party”), and shall hold each of them
                  harmless from and against any claims, losses, damages, penalties,
                  fines,
                  forfeitures, legal fees and expenses and related costs, judgments,
                  and any
                  other costs, fees and expenses that any of them may sustain arising
                  out of
                  or based upon:

              

      

      
         

        	(i)  	
                (A) any
                  untrue statement of a material fact contained or alleged to be
                  contained
                  in any information, report, certification, data, accountants’ letter or
                  other material provided under Sections 9.01(c) and (e) by or on
                  behalf of
                  the Company, or provided under Sections 9.01(c) and (e) by or on
                  behalf of
                  any Subservicer, Subcontractor or Third-Party Originator (collectively,
                  the “Company Information”), or (B) the omission or alleged omission to
                  state in the Company Information a material fact required to be
                  stated in
                  the Company Information or necessary in order to make the statements
                  therein, in the light of the circumstances under which they were
                  made, not
                  misleading; provided,
                  by way of clarification, that
                  clause (B) of this paragraph shall be construed solely by reference
                  to the
                  Company Information and not to any other information communicated
                  in
                  connection with a sale or purchase of securities, without regard
                  to
                  whether the Company Information or any portion thereof is presented
                  together with or separately from such other
                  information;

              

               
          

      

      
        	(ii)  	
                any
                  breach by the Company of its obligations under this Section 9.01(f),
                  including any failure by the Company, any Subservicer, any Subcontractor
                  or any Third-Party Originator to deliver any information, report,
                  certification, accountants’ letter or other material when and as required
                  under Sections 9.01(c) and (e), including any failure by the Company
                  to
                  identify any Subcontractor “participating in the servicing function”
                  within the meaning of Item 1122 of Regulation AB;
                  or

              

      

      

      
        	(iii)  	
                any
                  breach by the Company of a representation or warranty set forth
                  in Section
                  9.01(e)(iv)(A) or in a writing furnished pursuant to Section
                  9.01(e)(iv)(B) and made as of a date prior to the closing date
                  of the
                  related Securitization Transaction, to the extent that such breach
                  is not
                  cured by such closing date, or any breach by the Company of a
                  representation or warranty in a writing furnished pursuant to Section
                  9.01(e)(iv)(B) to the extent made as of a date subsequent to such
                  closing
                  date.

              

      

      

      
        	(iv)  	
                the
                  negligence, bad faith or willful misconduct of the Company in connection
                  with its performance under this Section.

                 

                
                  If
                    the indemnification provided for herein is unavailable or insufficient
                    to
                    hold harmless an Indemnified Party, then the Company agrees that
                    it shall
                    contribute to the amount paid or payable by such Indemnified
                    Party as a
                    result of any claims, losses, damages or liabilities incurred
                    by such
                    Indemnified Party in such proportion as is appropriate to reflect
                    the
                    relative fault of such Indemnified Party on the one hand and
                    the Company
                    on the other.

                  

                  In
                    the case of any failure of performance described in sub-clause
                    (ii) of
                    this Section 9.01(f), the Company shall promptly reimburse the
                    Purchaser,
                    any Depositor, as applicable, and each Person responsible for
                    the
                    preparation, execution or filing of any report required to be
                    filed with
                    the Commission with respect to such Securitization Transaction,
                    or for
                    execution of a certification pursuant to Rule 13a-14(d) or Rule
                    15d-14(d)
                    under the Exchange Act with respect to such Securitization Transaction,
                    for all costs reasonably incurred by each such party in order
                    to obtain
                    the information, report, certification, accountants’ letter or other
                    material not delivered as required by the Company, any Subservicer,
                    any
                    Subcontractor or any Third-Party Originator.
                    

                

              

      

       

      This
        indemnification shall survive the termination of this Agreement or the
        termination of any party to this Agreement.

       

      (z) Article
        X
        of the Warranties and Servicing Agreement is hereby amended effective as
        of the
        date hereof by adding the following as Subsection 10.01(ix):

       

      “(ix)
        an
        Event of Default as defined in Section 6.07.” 

       

      (aa) The
        first
        sentence of Section 12.03 of the Warranties and Servicing Agreement is deleted
        in its entirety and replaced with the following:

       

      Section
        12.03  Governing
        Law.

       

      This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of New York without giving effect to principles of conflicts of laws
        (other than Section 5-1401 of the New York General Obligations Law) and except
        to the extent preempted by Federal law and the obligations, rights and remedies
        of the parties hereunder shall be determined in accordance with such
        laws.

       

      (bb) A
        new
        Section 12.12 (Third Party Beneficiary) is hereby added to the Warranties
        and
        Servicing Agreement.

       

      Section
        12.12 Third
        Party Beneficiary.

       

      For
        Purposes of this Agreement, each Master Servicer shall be considered a third
        party beneficiary to this Agreement, entitled to all the rights and benefits
        hereof as if it were a direct party to this Agreement.

       

      (cc) The
        Warranties
        and Servicing
        Agreement is hereby amended as of the date hereof by inserting a new Exhibit
        I,
        a copy of which is annexed hereto as Exhibit C.

       

      (dd) The
        Warranties
        and Servicing
        Agreement is hereby amended as of the date hereof by inserting a new Exhibit
        J,
        a copy of which is annexed hereto as Exhibit D.

       

      (ee) The
        Warranties
        and Servicing
        Agreement is hereby amended as of the date hereof by inserting a new Exhibit
        K,
        a copy of which is annexed hereto as Exhibit E.

       

      (ff) The
        Warranties
        and Servicing
        Agreement is hereby amended as of the date hereof by inserting a new Exhibit
        D,
        a copy of which is annexed hereto as Exhibit F.

       

      11.  A
        copy of
        all assessments, attestations, reports and certificates required to be delivered
        by the Servicer under this AAR Agreement and the Purchase Agreement shall
        be
        delivered to the Master Servicer by the date(s) specified herein or therein,
        and
        where such documents are required to be addressed to any party, such addresses
        shall include the Master Servicer and the Master Servicer shall be entitled
        to
        rely on such documents.

       

      12.  Distributions
        shall be made by wire transfer of immediately available funds to: 

       

      Bear
        Stearns BSARM 2006-2 Master Servicer Collection Account

      Wells
        Fargo Bank, N.A.

      ABA#
        121000248

      Account
        Name: SAS Clearing 

      Account
        #
        3970771416

      For
        Further Credit to: BSARM 2006-2, A/C# 50920200

      

      and
        the
        Company shall deliver all reports required to be delivered under the Warranties
        and Servicing Agreement to the Master Servicer at:

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-2

      Telecopier
        No.: (410) 715-2380

       

      13.  Notices:

       

      The
        Assignor’s
        address for purposes of all notices and correspondence related to the Mortgage
        Loans and this Assignment and Assumption Agreement is:

       

      EMC
        Mortgage Corporation 

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        President or General Counsel

       

      With
        a
        copy to:

       

      Bear
        Stearns Mortgage Capital Corporation 

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        Ernie Calabrese

       

      The
        Assignee’s
        address for purposes of all notices and correspondence related to the Mortgage
        Loans and this Assignment and Assumption Agreement is:

       

      U.S.
        Bank
        National Association,

      as
        trustee

      One
        Federal Street, 3rd
        Floor

      Boston,
        MA 02110

      Attention:
        Corporate Trust Services

      BSARM
        2006-2

      Telecopy:
        (617) 603-6413

       

      The
        Company’s
        address for purposes of all notices and correspondence related to the Mortgage
        Loans and this Assignment and Assumption Agreement is:

       

      Wells
        Fargo Bank, N.A.

      1
        Home
        Campus

      MAC
        X2401-042

      Des
        Moines, Iowa 50328-0001 

      Attention:
        John B. Brown

       

      With
        a
        copy to: 

       

      Wells
        Fargo Bank, N.A.

      1
        Home
        Campus

      Des
        Moines, Iowa 50328-0001

      Attention:
        General Counsel - MAC X2401-06T

       

      Miscellaneous:

       

      14.  Each
        party will pay any commissions it has incurred and the Assignor shall pay
        the
        fees of its attorneys and the reasonable fees of the attorneys of the Assignee
        and the Company in connection with the negotiations for, documenting of and
        closing of the transactions contemplated by this Assignment and Assumption
        Agreement.

       

      15.  This
        Assignment and Assumption Agreement shall be construed in accordance with
        the
        laws of the State of New York, including
        Sections 5-1401 and 5-1402 of the New General Obligations Law, but otherwise
        without regard to conflicts of law principles, and the obligations, rights
        and
        remedies of the parties hereunder shall be determined in accordance with
        such
        laws.

       

      16.  No
        term
        or provision of this Assignment and Assumption Agreement may be waived or
        modified unless such waiver or modification is in writing and signed by the
        party against whom such waiver or modification is sought to be
        enforced.

       

      17.  This
        Assignment and Assumption Agreement shall inure to the benefit of the successors
        and assigns of the parties hereto. Any entity into which Assignor, Assignee
        or
        Company may be merged or consolidated shall, without the requirement for
        any
        further writing, be deemed Assignor, Assignee or Company, respectively,
        hereunder.

       

      18.  This
        Assignment and Assumption Agreement shall survive the conveyance of the Mortgage
        Loans and the assignment of the Warranties and Servicing Agreement to the
        extent
        of the Mortgage Loans by Assignor to Assignee and the termination of the
        Warranties and Servicing Agreement.

       

      19.  This
        Assignment and Assumption Agreement may be executed simultaneously in any
        number
        of counterparts. Each counterpart shall be deemed to be an original and all
        such
        counterparts shall constitute one and the same instrument.

       

      20.  In
        the
        event that any provision of this Assignment and Assumption Agreement conflicts
        with any provision of the Warranties and Servicing Agreement with respect
        to the
        Mortgage Loans, the terms of this Assignment and Assumption Agreement shall
        control.

       

      21.  Any
        new
        loan number assigned to a Mortgage Loan by the Assignee shall be provided
        to the
        Company at the following address: Wells Fargo Bank, N.A., 1 Home Campus,
        MAC
        X2401-042, Des Moines, Iowa 50328-0001 Attention: John B. Brown. In addition,
        if
        Assignee has changed its document custodian from the previous custodian,
        such
        new custodian’s name, address and contact information shall be provided to the
        Company at the aforementioned address.

       

      
        
          
            
               

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      IN
        WITNESS WHEREOF, the parties have caused this Assignment and Assumption
        Agreement to be executed by their duly authorized officers as of the date
        first
        above written.

      
        
           

          
            	 	 	 
	 	
                    
                      
                        
                          
                            U.S.
                              BANK NATIONAL ASSOCIATION,
                              not individually but solely as trustee for the holders
                              of Bear Stearns ARM
                              Trust, Mortgage Pass-Through Certificates, Series
                              2006-2

                          

                        

                      

                    

                  
	 
 	 
 	 
 
	 	By:  	 
	 	Name:   	
                    

                  
	 	Title:	
                     

                     

                  
	 	 	
                  

          

           

          
            
              	 	
                       

                    	 
	 	
                      
                        
                          
                            
                              
                                
                                  EMC
                                    MORTGAGE
                                    CORPORATION

                                

                              

                            

                          

                        

                      

                    
	 
 	 
 	 
 
	 	By:  	 
	 	Name:   	
                      

                    
	 	Title:	
                    
	 	 	
                    

            

          

        

      

       

      
        
          
            	 	
                     

                  	 
	 	
                    
                      
                        
                          
                            
                              
                                
                                  WELLS
                                    FARGO BANK, N.A.,

                                  as
                                    Company

                                

                              

                            

                          

                        

                      

                    

                  
	 
 	 
 	 
 
	 	By:  	 
	 	Name:   	
                    

                  
	 	Title:	
                  
	 	 	
                  

          

        

         

      

      Acknowledged
        and Agreed

       

      
        	
                WELLS
                  FARGO BANK, N.A.,

                as
                  Master Servicer

              	 
	
                By:

              	 	 
	
                Name:

              	
                
                  
 

              	 
	
                Title:

              	
                
 	 
	 	
                

              	 

      

      

       

      
        
          
            
               

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      Exhibit
        A

       

      Mortgage
        Loans

      

       

      [Provided
        upon request]

       

      
        
          
            
               

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      Exhibit
        B

       

      Master
        Mortgage Loan Purchase Agreement, dated as of October 1, 2004 by and between
        Wells Fargo and EMC;

       

      Assignment
        and Conveyance Agreement, dated as of [ ] by and between Wells Fargo and
        EMC.

       

      Amended
        and Restated Master Seller’s Warranties and Servicing Agreement dated as of
        November 1, 2005, between the Wells Fargo and EMC

       

      [Provided
        upon request]

       

      

       

      
        
          
            
               

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      Exhibit
        C

       

      EXHIBIT
        I

       

      REPORTING
        DATA FOR MONTHLY REPORT

       

      
        	
                Standard
                  File Layout - Master Servicing

                 

              
	
                Column
                  Name

              	
                Description

              	
                Decimal

              	
                Format
                  Comment

              	
                Max
                  Size

              
	
                SER_INVESTOR_NBR

              	
                A
                  value assigned by the Servicer to define a group of loans.

              	 	
                Text
                  up to 10 digits

              	
                20

              
	
                LOAN_NBR

              	
                A
                  unique identifier assigned to each loan by the investor.

              	 	
                Text
                  up to 10 digits

              	
                10

              
	
                SERVICER_LOAN_NBR

              	
                A
                  unique number assigned to a loan by the Servicer. This may be different
                  than the LOAN_NBR.

              	 	
                Text
                  up to 10 digits

              	
                10

              
	
                BORROWER_NAME

              	
                The
                  borrower name as received in the file. It is not separated by first
                  and
                  last name.

              	 	
                Maximum
                  length of 30 (Last, First)

              	
                30

              
	
                SCHED_PAY_AMT

              	
                Scheduled
                  monthly principal and scheduled interest payment that a borrower
                  is
                  expected to pay, P&I constant.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NOTE_INT_RATE

              	
                The
                  loan interest rate as reported by the Servicer.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                NET_INT_RATE

              	
                The
                  loan gross interest rate less the service fee rate as reported
                  by the
                  Servicer.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                SERV_FEE_RATE

              	
                The
                  servicer's fee rate for a loan as reported by the
                  Servicer.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                SERV_FEE_AMT

              	
                The
                  servicer's fee amount for a loan as reported by the
                  Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NEW_PAY_AMT

              	
                The
                  new loan payment amount as reported by the Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NEW_LOAN_RATE

              	
                The
                  new loan rate as reported by the Servicer.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                ARM_INDEX_RATE

              	
                The
                  index the Servicer is using to calculate a forecasted
                  rate.

              	
                4

              	
                Max
                  length of 6

              	
                6

              
	
                ACTL_BEG_PRIN_BAL

              	
                The
                  borrower's actual principal balance at the beginning of the processing
                  cycle.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                ACTL_END_PRIN_BAL

              	
                The
                  borrower's actual principal balance at the end of the processing
                  cycle.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                BORR_NEXT_PAY_DUE_DATE

              	
                The
                  date at the end of processing cycle that the borrower's next payment
                  is
                  due to the Servicer, as reported by Servicer.

              	 	
                MM/DD/YYYY

              	
                10

              
	
                SERV_CURT_AMT_1

              	
                The
                  first curtailment amount to be applied.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_DATE_1

              	
                The
                  curtailment date associated with the first curtailment
                  amount.

              	 	
                MM/DD/YYYY

              	
                10

              
	
                CURT_ADJ_
                  AMT_1

              	
                The
                  curtailment interest on the first curtailment amount, if
                  applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_AMT_2

              	
                The
                  second curtailment amount to be applied.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_DATE_2

              	
                The
                  curtailment date associated with the second curtailment
                  amount.

              	 	
                MM/DD/YYYY

              	
                10

              
	
                CURT_ADJ_
                  AMT_2

              	
                The
                  curtailment interest on the second curtailment amount, if
                  applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_AMT_3

              	
                The
                  third curtailment amount to be applied.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SERV_CURT_DATE_3

              	
                The
                  curtailment date associated with the third curtailment
                  amount.

              	 	
                MM/DD/YYYY

              	
                10

              
	
                CURT_ADJ_AMT_3

              	
                The
                  curtailment interest on the third curtailment amount, if
                  applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PIF_AMT

              	
                The
                  loan "paid in full" amount as reported by the Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PIF_DATE

              	
                The
                  paid in full date as reported by the Servicer.

              	 	
                MM/DD/YYYY

              	
                10

              
	 	 	 	
                Action
                  Code Key: 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution,
                  65=Repurchase,70=REO

              	
                2

              
	
                ACTION_CODE

              	
                The
                  standard FNMA numeric code used to indicate the default/delinquent
                  status
                  of a particular loan.

              
	
                INT_ADJ_AMT

              	
                The
                  amount of the interest adjustment as reported by the
                  Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SOLDIER_SAILOR_ADJ_AMT

              	
                The
                  Soldier and Sailor Adjustment amount, if applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                NON_ADV_LOAN_AMT

              	
                The
                  Non Recoverable Loan Amount, if applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                LOAN_LOSS_AMT

              	
                The
                  amount the Servicer is passing as a loss, if applicable.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_BEG_PRIN_BAL

              	
                The
                  scheduled outstanding principal amount due at the beginning of
                  the cycle
                  date to be passed through to investors.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_END_PRIN_BAL

              	
                The
                  scheduled principal balance due to investors at the end of a processing
                  cycle.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_PRIN_AMT

              	
                The
                  scheduled principal amount as reported by the Servicer for the
                  current
                  cycle -- only applicable for Scheduled/Scheduled Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                SCHED_NET_INT

              	
                The
                  scheduled gross interest amount less the service fee amount for
                  the
                  current cycle as reported by the Servicer -- only applicable for
                  Scheduled/Scheduled Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                ACTL_PRIN_AMT

              	
                The
                  actual principal amount collected by the Servicer for the current
                  reporting cycle -- only applicable for Actual/Actual
                  Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                ACTL_NET_INT

              	
                The
                  actual gross interest amount less the service fee amount for the
                  current
                  reporting cycle as reported by the Servicer -- only applicable
                  for
                  Actual/Actual Loans.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PREPAY_PENALTY_
                  AMT

              	
                The
                  penalty amount received when a borrower prepays on his loan as
                  reported by
                  the Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                PREPAY_PENALTY_
                  WAIVED

              	
                The
                  prepayment penalty amount for the loan waived by the
                  servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              
	
                MOD_DATE

              	
                The
                  Effective Payment Date of the Modification for the loan.

              	 	
                MM/DD/YYYY

              	
                10

              
	
                MOD_TYPE

              	
                The
                  Modification Type.

              	 	
                Varchar
                  - value can be alpha or numeric

              	
                30

              
	
                DELINQ_P&I_ADVANCE_AMT

              	
                The
                  current outstanding principal and interest advances made by
                  Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              

      

      

       

      
        
          
             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      Exhibit
        D

       

      EXHIBIT
        J

       

      REPORTING
        DATA FOR DEFAULTED LOANS

       

      
        	
                Standard
                  File Layout - Delinquency
                  Reporting

                 

              
	
                Column/Header
                  Name

              	
                Description

              	
                Decimal

              	
                Format
                  Comment

              
	
                SERVICER_LOAN_NBR

              	
                A
                  unique number assigned to a loan by the Servicer. This may be different
                  than the LOAN_NBR

              	 	
                 

              
	
                LOAN_NBR

              	
                A
                  unique identifier assigned to each loan by the originator.

              	 	
                 

              
	
                CLIENT_NBR

              	
                Servicer
                  Client Number

              	 	 
	
                SERV_INVESTOR_NBR

              	
                Contains
                  a unique number as assigned by an external servicer to identify
                  a group of
                  loans in their system.

              	 	
                 

              
	
                BORROWER_FIRST_NAME

              	
                First
                  Name of the Borrower.

              	 	 
	
                BORROWER_LAST_NAME

              	
                Last
                  name of the borrower.

              	 	 
	
                PROP_ADDRESS

              	
                Street
                  Name and Number of Property

              	 	
                 

              
	
                PROP_STATE

              	
                The
                  state where the property located.

              	 	
                 

              
	
                PROP_ZIP

              	
                Zip
                  code where the property is located.

              	 	
                 

              
	
                BORR_NEXT_PAY_DUE_DATE

              	
                The
                  date that the borrower's next payment is due to the servicer at
                  the end of
                  processing cycle, as reported by Servicer.

              	 	
                MM/DD/YYYY

              
	
                LOAN_TYPE

              	
                Loan
                  Type (i.e. FHA, VA, Conv)

              	 	
                 

              
	
                BANKRUPTCY_FILED_DATE

              	
                The
                  date a particular bankruptcy claim was filed.

              	 	
                MM/DD/YYYY

              
	
                BANKRUPTCY_CHAPTER_CODE

              	
                The
                  chapter under which the bankruptcy was filed.

              	 	
                 

              
	
                BANKRUPTCY_CASE_NBR

              	
                The
                  case number assigned by the court to the bankruptcy
                  filing.

              	 	
                 

              
	
                POST_PETITION_DUE_DATE

              	
                The
                  payment due date once the bankruptcy has been approved by the
                  courts

              	 	
                MM/DD/YYYY

              
	
                BANKRUPTCY_DCHRG_DISM_DATE

              	
                The
                  Date The Loan Is Removed From Bankruptcy. Either by Dismissal,
                  Discharged
                  and/or a Motion For Relief Was Granted. 

              	 	
                MM/DD/YYYY

              
	
                LOSS_MIT_APPR_DATE

              	
                The
                  Date The Loss Mitigation Was Approved By The Servicer

              	 	
                MM/DD/YYYY

              
	
                LOSS_MIT_TYPE

              	
                The
                  Type Of Loss Mitigation Approved For A Loan Such As;

              	 	 
	
                LOSS_MIT_EST_COMP_DATE

              	
                The
                  Date The Loss Mitigation /Plan Is Scheduled To End/Close

              	 	
                MM/DD/YYYY

              
	
                LOSS_MIT_ACT_COMP_DATE

              	
                The
                  Date The Loss Mitigation Is Actually Completed

              	 	
                MM/DD/YYYY

              
	
                FRCLSR_APPROVED_DATE

              	
                The
                  date DA Admin sends a letter to the servicer with instructions
                  to begin
                  foreclosure proceedings.

              	 	
                MM/DD/YYYY

              
	
                ATTORNEY_REFERRAL_DATE

              	
                Date
                  File Was Referred To Attorney to Pursue Foreclosure

              	 	
                MM/DD/YYYY

              
	
                FIRST_LEGAL_DATE

              	
                Notice
                  of 1st legal filed by an Attorney in a Foreclosure Action

              	 	
                MM/DD/YYYY

              
	
                FRCLSR_SALE_EXPECTED_DATE

              	
                The
                  date by which a foreclosure sale is expected to occur.

              	 	
                MM/DD/YYYY

              
	
                FRCLSR_SALE_DATE

              	
                The
                  actual date of the foreclosure sale.

              	 	
                MM/DD/YYYY

              
	
                FRCLSR_SALE_AMT

              	
                The
                  amount a property sold for at the foreclosure sale.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                EVICTION_START_DATE

              	
                The
                  date the servicer initiates eviction of the borrower.

              	 	
                MM/DD/YYYY

              
	
                EVICTION_COMPLETED_DATE

              	
                The
                  date the court revokes legal possession of the property from the
                  borrower.

              	 	
                MM/DD/YYYY

              
	
                LIST_PRICE

              	
                The
                  price at which an REO property is marketed.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                LIST_DATE

              	
                The
                  date an REO property is listed at a particular price.

              	 	
                MM/DD/YYYY

              
	
                OFFER_AMT

              	
                The
                  dollar value of an offer for an REO property.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                OFFER_DATE_TIME

              	
                The
                  date an offer is received by DA Admin or by the Servicer.

              	 	
                MM/DD/YYYY

              
	
                REO_CLOSING_DATE

              	
                The
                  date the REO sale of the property is scheduled to close.

              	 	
                MM/DD/YYYY

              
	
                REO_ACTUAL_CLOSING_DATE

              	
                Actual
                  Date Of REO Sale

              	 	
                MM/DD/YYYY

              
	
                OCCUPANT_CODE

              	
                Classification
                  of how the property is occupied.

              	 	
                 

              
	
                PROP_CONDITION_CODE

              	
                A
                  code that indicates the condition of the property.

              	 	
                 

              
	
                PROP_INSPECTION_DATE

              	
                The
                  date a property inspection is performed.

              	 	
                MM/DD/YYYY

              
	
                APPRAISAL_DATE

              	
                The
                  date the appraisal was done.

              	 	
                MM/DD/YYYY

              
	
                CURR_PROP_VAL

              	
                 The
                  current "as is" value of the property based on brokers price opinion
                  or
                  appraisal.

              	
                2

              	
                 

              
	
                REPAIRED_PROP_VAL

              	
                The
                  amount the property would be worth if repairs are completed pursuant
                  to a
                  broker's price opinion or appraisal.

              	
                2

              	
                 

              
	
                If
                  applicable:

              	
                 

              	 	
                 

              
	
                DELINQ_STATUS_CODE

              	
                FNMA
                  Code Describing Status of Loan

              	 	 
	
                DELINQ_REASON_CODE

              	
                The
                  circumstances which caused a borrower to stop paying on a loan.
                  Code
                  indicates the reason why the loan is in default for this
                  cycle.

              	 	 
	
                MI_CLAIM_FILED_DATE

              	
                Date
                  Mortgage Insurance Claim Was Filed With Mortgage Insurance
                  Company.

              	 	
                MM/DD/YYYY

              
	
                MI_CLAIM_AMT

              	
                Amount
                  of Mortgage Insurance Claim Filed

              	 	
                No
                  commas(,) or dollar signs ($)

              
	
                MI_CLAIM_PAID_DATE

              	
                Date
                  Mortgage Insurance Company Disbursed Claim Payment

              	 	
                MM/DD/YYYY

              
	
                MI_CLAIM_AMT_PAID

              	
                Amount
                  Mortgage Insurance Company Paid On Claim

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                POOL_CLAIM_FILED_DATE

              	
                Date
                  Claim Was Filed With Pool Insurance Company

              	 	
                MM/DD/YYYY

              
	
                POOL_CLAIM_AMT

              	
                Amount
                  of Claim Filed With Pool Insurance Company

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                POOL_CLAIM_PAID_DATE

              	
                Date
                  Claim Was Settled and The Check Was Issued By The Pool
                  Insurer

              	 	
                MM/DD/YYYY

              
	
                POOL_CLAIM_AMT_PAID

              	
                Amount
                  Paid On Claim By Pool Insurance Company

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                FHA_PART_A_CLAIM_FILED_DATE

              	
                 Date
                  FHA Part A Claim Was Filed With HUD

              	 	
                MM/DD/YYYY

              
	
                FHA_PART_A_CLAIM_AMT

              	
                 Amount
                  of FHA Part A Claim Filed

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                FHA_PART_A_CLAIM_PAID_DATE

              	
                 Date
                  HUD Disbursed Part A Claim Payment

              	 	
                MM/DD/YYYY

              
	
                FHA_PART_A_CLAIM_PAID_AMT

              	
                 Amount
                  HUD Paid on Part A Claim

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                FHA_PART_B_CLAIM_FILED_DATE

              	
                  Date
                  FHA Part B Claim Was Filed With HUD

              	 	
                MM/DD/YYYY

              
	
                FHA_PART_B_CLAIM_AMT

              	
                  Amount
                  of FHA Part B Claim Filed

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                FHA_PART_B_CLAIM_PAID_DATE

              	
                   Date
                  HUD Disbursed Part B Claim Payment

              	 	
                MM/DD/YYYY

              
	
                FHA_PART_B_CLAIM_PAID_AMT

              	
                 Amount
                  HUD Paid on Part B Claim

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              
	
                VA_CLAIM_FILED_DATE

              	
                 Date
                  VA Claim Was Filed With the Veterans Admin

              	 	
                MM/DD/YYYY

              
	
                VA_CLAIM_PAID_DATE

              	
                 Date
                  Veterans Admin. Disbursed VA Claim Payment

              	 	
                MM/DD/YYYY

              
	
                VA_CLAIM_PAID_AMT

              	
                 Amount
                  Veterans Admin. Paid on VA Claim

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              

      

      

       

      Exhibit
        2: Standard
        File Codes - Delinquency Reporting

       

      The
        Loss
        Mit Type
        field
        should show the approved Loss Mitigation Code as follows: 

       

      
        	·  	
                ASUM-Approved
                  Assumption

              

      

       

      
        	·  	
                BAP-Borrower
                  Assistance Program

              

      

       

      
        	·  	
                CO-
                  Charge Off

              

      

       

      
        	·  	
                DIL-
                  Deed-in-Lieu

              

      

       

      
        	·  	
                FFA-
                  Formal Forbearance Agreement

              

      

       

      
        	·  	
                MOD-
                  Loan Modification

              

      

       

      
        	·  	
                PRE-
                  Pre-Sale

              

      

       

      
        	·  	
                SS-
                  Short Sale

              

      

       

      
        	·  	
                MISC-Anything
                  else approved by the PMI or Pool
                  Insurer

              

      

      

       

      NOTE:
        Wells
        Fargo Bank will accept alternative Loss Mitigation Types to those above,
        provided that they are consistent with industry standards. If Loss Mitigation
        Types other than those above are used, the Servicer must supply Wells Fargo
        Bank
        with a description of each of the Loss Mitigation Types prior to sending
        the
        file.

       

      The
        Occupant
        Code
        field
        should show the current status of the property code as follows:

       

      
        	·  	
                Mortgagor

              

      

       

      
        	·  	
                Tenant

              

      

       

      
        	·  	
                Unknown
                  

              

      

       

      
        	·  	
                Vacant

              

      

       

      The
        Property
        Condition
        field
        should show the last reported condition of the property as follows:

       

      
        	·  	
                Damaged

              

      

       

      
        	·  	
                Excellent

              

      

       

      
        	·  	
                Fair

              

      

       

      
        	·  	
                Gone

              

      

       

      
        	·  	
                Good

              

      

       

      
        	·  	
                Poor

              

      

       

      
        	·  	
                Special
                  Hazard

              

      

       

      
        	·  	
                Unknown

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Exhibit
        2: Standard
        File Codes - Delinquency Reporting, Continued

       

      The
        FNMA
        Delinquent Reason Code
        field
        should show the Reason for Delinquency as follows: 

       

       

      
        	
                Delinquency
                  Code

              	
                Delinquency
                  Description

              
	
                001

              	
                FNMA-Death
                  of principal mortgagor

              
	
                002

              	
                FNMA-Illness
                  of principal mortgagor

              
	
                003

              	
                FNMA-Illness
                  of mortgagor’s family member

              
	
                004

              	
                FNMA-Death
                  of mortgagor’s family member

              
	
                005

              	
                FNMA-Marital
                  difficulties

              
	
                006

              	
                FNMA-Curtailment
                  of income

              
	
                007

              	
                FNMA-Excessive
                  Obligation

              
	
                008

              	
                FNMA-Abandonment
                  of property

              
	
                009

              	
                FNMA-Distant
                  employee transfer

              
	
                011

              	
                FNMA-Property
                  problem

              
	
                012

              	
                FNMA-Inability
                  to sell property

              
	
                013

              	
                FNMA-Inability
                  to rent property

              
	
                014

              	
                FNMA-Military
                  Service

              
	
                015

              	
                FNMA-Other

              
	
                016

              	
                FNMA-Unemployment

              
	
                017

              	
                FNMA-Business
                  failure

              
	
                019

              	
                FNMA-Casualty
                  loss

              
	
                022

              	
                FNMA-Energy
                  environment costs

              
	
                023

              	
                FNMA-Servicing
                  problems

              
	
                026

              	
                FNMA-Payment
                  adjustment

              
	
                027

              	
                FNMA-Payment
                  dispute

              
	
                029

              	
                FNMA-Transfer
                  of ownership pending

              
	
                030

              	
                FNMA-Fraud

              
	
                031

              	
                FNMA-Unable
                  to contact borrower

              
	
                INC

              	
                FNMA-Incarceration

              

      

      

        
          
            
               

            

            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

Exhibit
        2: Standard
        File Codes - Delinquency Reporting, Continued

       

      The
        FNMA
        Delinquent Status Code
        field
        should show the Status of Default as follows: 

       

      
        	
                Status
                  Code

              	
                Status
                  Description

              
	
                09

              	
                Forbearance

              
	
                17

              	
                Pre-foreclosure
                  Sale Closing Plan Accepted

              
	
                24

              	
                Government
                  Seizure

              
	
                26

              	
                Refinance

              
	
                27

              	
                Assumption

              
	
                28

              	
                Modification

              
	
                29

              	
                Charge-Off

              
	
                30

              	
                Third
                  Party Sale

              
	
                31

              	
                Probate

              
	
                32

              	
                Military
                  Indulgence

              
	
                43

              	
                Foreclosure
                  Started

              
	
                44

              	
                Deed-in-Lieu
                  Started

              
	
                49

              	
                Assignment
                  Completed

              
	
                61

              	
                Second
                  Lien Considerations

              
	
                62

              	
                Veteran’s
                  Affairs-No Bid

              
	
                63

              	
                Veteran’s
                  Affairs-Refund

              
	
                64

              	
                Veteran’s
                  Affairs-Buydown

              
	
                65

              	
                Chapter
                  7 Bankruptcy

              
	
                66

              	
                Chapter
                  11 Bankruptcy

              
	
                67

              	
                Chapter
                  13 Bankruptcy

              

      

      

       

      
        
          
            
               

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      Exhibit
        E

       

      EXHIBIT
        K

       

      REPORTING
        DATA FOR REALIZED LOSSES AND GAINS

      

       

      Calculation
        of Realized Loss/Gain Form 332- Instruction Sheet

       

      NOTE:
        Do not net or combine items. Show all expenses individually and all credits
        as
        separate line items. Claim packages are due on the remittance report date.
        Late
        submissions may result in claims not being passed until the following month.
        The
        Servicer is responsible to remit all funds pending loss approval and /or
        resolution of any disputed items. 

      

       

      The
        numbers on the 332 form correspond with the numbers listed
        below.

       

      Liquidation
        and Acquisition Expenses:

       

      1.          
         The
        Actual Unpaid Principal Balance of the Mortgage Loan. For documentation,
        an
        Amortization Schedule from date of default through liquidation breaking out
        the
        net interest and servicing fees advanced is required.

       

      2.          
         The
        Total
        Interest Due less the aggregate amount of servicing fee that would have been
        earned if all delinquent payments had been made as agreed. For documentation,
        an
        Amortization Schedule from date of default through liquidation breaking out
        the
        net interest and servicing fees advanced is required.

       

      3.          
         Accrued
        Servicing Fees based upon the Scheduled Principal Balance of the Mortgage
        Loan
        as calculated on a monthly basis. For documentation, an Amortization Schedule
        from date of default through liquidation breaking out the net interest and
        servicing fees advanced is required.

       

      4-12.     
         Complete
        as applicable. Required documentation:

       

      *     
         For taxes and insurance advances - see page 2 of 332 form - breakdown
        required showing period

       

      of
        coverage, base tax, interest, penalty. Advances prior to default require
        evidence of servicer efforts to recover advances.

       

      *    
         For escrow advances - complete payment history 

       

             
        (to calculate advances from last positive escrow balance forward)

       

      *    
         Other expenses -  copies of corporate advance history showing all
        payments 

       

      *    
         REO repairs > $1500 require explanation

       

      *    
         REO repairs >$3000 require evidence of at least 2 bids.

       

      *    
         Short Sale or Charge Off require P&L supporting the decision and WFB’s
        approved Officer Certificate 

       

      *    
         Unusual or extraordinary items may require further documentation.

       

      13.        
         The
        total
        of lines 1 through 12.

       

      Credits:
        

       

      14-21.    
         Complete
        as applicable. Required documentation:

       

      *   
         Copy of the HUD 1 from the REO sale. If a 3rd
        Party
        Sale, bid instructions and Escrow Agent / Attorney

       

            
        Letter of Proceeds Breakdown.

       

      *   
         Copy of EOB for any MI or gov't guarantee 

       

      *  
         All other credits need to be clearly defined on the 332
        form  

       

      
        	 	
                22.

              	
                The
                  total of lines 14 through 21.

              

      

       

      Please
        Note: For
        HUD/VA loans, use line (18a) for Part A/Initial proceeds and line (18b) for
        Part
        B/Supplemental proceeds.

       

      Total
        Realized Loss (or Amount of Any Gain)

       

      23. The
        total
        derived from subtracting line 22 from 13. If the amount represents a realized
        gain, show
        the
        amount in parenthesis ( ). 

       

      
        
           

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Calculation
        of Realized Loss/Gain Form 332

      

       

      Prepared
        by: __________________   Date:
        _______________

      Phone:
        ______________________ Email Address:____________________

      

       

      
        	
                Servicer
                  Loan No.

              	
                 

              	
                Servicer
                  Name

              	
                 

              	
                Servicer
                  Address 

                 

              

      

       

       

      WELLS
        FARGO BANK, N.A. Loan No._____________________________

       

      Borrower's
        Name: _________________________________________________________

      Property
        Address: ________________________________________________________

       

      Liquidation
        Type: REO Sale  
        3rd
        Party Sale  Short
        Sale Charge
        Off 

       

      Was
        this loan granted a Bankruptcy deficiency or cramdown  Yes 
        No

       

      If
“Yes”,
        provide deficiency or cramdown amount
        _______________________________

       

      Liquidation
        and Acquisition Expenses:

      
        
          
            

              
                	
                        (1)

                      	
                        Actual
                          Unpaid Principal Balance of Mortgage Loan

                      	
                         

                      	$	 	
                        (1)

                      
	
                        (2)

                      	
                        Interest
                          accrued at Net Rate

                      	 	
                         

                      	 	
                        (2)

                      
	
                        (3)

                      	
                        Accrued
                          Servicing Fees

                      	 	
                         

                      	 	
                        (3)

                      
	
                        (4)

                      	
                        Attorney's
                          Fees

                      	 	
                         

                      	 	
                        (4)

                      
	
                        (5)

                      	
                        Taxes
                          (see page 2)

                      	 	
                         

                      	 	
                        (5)

                      
	
                        (6)

                      	
                        Property
                          Maintenance

                      	 	 	 	
                         

                      	 	
                        (6)

                      
	
                        (7)

                      	
                        MI/Hazard
                          Insurance Premiums (see page 2)

                      	
                         

                      	 	 	
                        (7)

                      
	
                        (8)

                      	
                        Utility
                          Expenses

                      	 	 	 	
                         

                      	 	
                        (8)

                      
	
                        (9)

                      	
                        Appraisal/BPO

                      	 	 	 	
                         

                      	 	
                        (9)

                      
	
                        (10)

                      	
                        Property
                          Inspections

                      	 	 	 	
                         

                      	 	
                        (10)

                      
	
                        (11)

                      	
                        FC
                          Costs/Other Legal Expenses

                      	 	 	 	
                        (11)

                      
	
                        (12)

                      	
                        Other
                          (itemize)

                      	 	 	 	
                         

                      	 	
                        (12)

                      
	 	 	
                        Cash
                          for Keys

                      	 	
                         

                      	 	 	
                        (12)

                      
	 	 	
                        HOA/Condo
                          Fees

                      	 	
                         

                      	 	 	
                        (12)

                      
	 	 	
                         

                      	 	
                         

                      	 	 	
                        (12)

                      
	 	 	 	 	 	 	 	 
	 	 	
                        Total
                          Expenses

                      	 	 	$	 	
                        
                          (13)

                        

                      
	
                        Credits:

                      	 	 	 	 	 	 	 
	
                        (14)

                      	
                        Escrow
                          Balance

                      	 	 	 	
                        $
                          

                      	 	
                        (14)

                      
	
                        (15)

                      	
                        HIP
                          Refund

                      	 	 	 	 	 	
                        
                          (15)

                        

                      
	
                        (16)

                      	
                        Rental
                          Receipts

                      	 	 	 	
                         

                      	 	
                        (16)

                      
	
                        (17)

                      	
                        Hazard
                          Loss Proceeds

                      	 	 	 	
                         

                      	 	
                        (17)

                      
	
                        (18)

                      	
                        Primary
                          Mortgage Insurance / Gov’t Insurance

                      	
                         

                      	 	 	(18a)

	
                        HUD
                          Part A

                      	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	
                        HUD
                          Part B

                      	 	 	 	 	 	(18b)
	
                        (19)

                      	
                        Pool
                          Insurance Proceeds

                      	 	 	 	
                         

                      	 	
                        (19)

                      
	
                        (20)

                      	
                        Proceeds
                          from Sale of Acquired Property

                      	
                         

                      	 	 	
                        (20)

                      
	
                        (21)

                      	
                        Other
                          (itemize)

                      	 	 	 	
                         

                      	 	
                        (21)

                      
	 	
                         

                      	 	
                         

                      	
                         

                      	 	 	
                        (21)

                      
	 	 	 	 	 	 	 	 
	 	
                        Total
                          Credits

                      	 	 	 	
                        $

                      	 	
                        (22)

                      
	
                        Total
                          Realized Loss (or Amount of Gain)

                      	
                         

                      	
                         

                      	
                        $

                      	 	
                        (23)

                      

              

            

          

           

        

      

      
        
          
             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Escrow
        Disbursement Detail

       

      
        	
                Type

                (Tax
                  /Ins.)

              	
                Date
                  Paid

              	
                Period
                  of Coverage

              	
                Total
                  Paid

              	
                Base
                  Amount

              	
                Penalties

              	
                Interest

              
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

      

      

       

      
        
          
             

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

             

          

        

      

      Exhibit
        F

       

      Exhibit
        D

      

       

      SERVICING
        CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

       

      The
        assessment of compliance to be delivered by [the Servicer] [Name of Subservicer]
        shall address, at a minimum, the criteria identified as below as “Applicable
        Servicing Criteria”:

       

      
        	
                Servicing
                  Criteria 

              	
                Applicable
                  Servicing Criteria

              
	
                Reference

              	
                Criteria

              	
                 

              
	
                 

              	
                General
                  Servicing Considerations

              	
                 

              
	
                1122(d)(1)(i)

              	
                Policies
                  and procedures are instituted to monitor any performance or other
                  triggers
                  and events of default in accordance with the transaction
                  agreements.

              	
                X

              
	
                1122(d)(1)(ii)

              	
                If
                  any material servicing activities are outsourced to third parties,
                  policies and procedures are instituted to monitor the third party’s
                  performance and compliance with such servicing activities.

              	
                X

              
	
                1122(d)(1)(iii)

              	
                Any
                  requirements in the transaction agreements to maintain a back-up
                  servicer
                  for the mortgage loans are maintained.

              	 
	
                1122(d)(1)(iv)

              	
                A
                  fidelity bond and errors and omissions policy is in effect on the
                  party
                  participating in the servicing function throughout the reporting
                  period in
                  the amount of coverage required by and otherwise in accordance
                  with the
                  terms of the transaction agreements.

              	
                X

              
	
                 

              	
                Cash
                  Collection and Administration

              	 
	
                1122(d)(2)(i)

              	
                Payments
                  on mortgage loans are deposited into the appropriate custodial
                  bank
                  accounts and related bank clearing accounts no more than two business
                  days
                  following receipt, or such other number of days specified in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(2)(ii)

              	
                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel.

              	
                X

              
	
                1122(d)(2)(iii)

              	
                Advances
                  of funds or guarantees regarding collections, cash flows or distributions,
                  and any interest or other fees charged for such advances, are made,
                  reviewed and approved as specified in the transaction
                  agreements.

              	
                X

              
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of overcollateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(2)(v)

              	
                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial institution
                  that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.

              	
                X

              
	
                1122(d)(2)(vi)

              	
                Unissued
                  checks are safeguarded so as to prevent unauthorized
                  access.

              	
                X

              
	
                1122(d)(2)(vii)

              	
                Reconciliations
                  are prepared on a monthly basis for all asset-backed securities
                  related
                  bank accounts, including custodial accounts and related bank clearing
                  accounts. These reconciliations are (A) mathematically accurate;
                  (B)
                  prepared within 30 calendar days after the bank statement cutoff
                  date, or
                  such other number of days specified in the transaction agreements;
                  (C)
                  reviewed and approved by someone other than the person who prepared
                  the
                  reconciliation; and (D) contain explanations for reconciling items.
                  These
                  reconciling items are resolved within 90 calendar days of their
                  original
                  identification, or such other number of days specified in the transaction
                  agreements.

              	
                X

              
	
                 

              	
                Investor
                  Remittances and Reporting

              	 
	
                1122(d)(3)(i)

              	
                Reports
                  to investors, including those to be filed with the Commission,
                  are
                  maintained in accordance with the transaction agreements and applicable
                  Commission requirements. Specifically, such reports (A) are prepared
                  in
                  accordance with timeframes and other terms set forth in the transaction
                  agreements; (B) provide information calculated in accordance with
                  the
                  terms specified in the transaction agreements; (C) are filed with
                  the
                  Commission as required by its rules and regulations; and (D) agree
                  with
                  investors’ or the trustee’s records as to the total unpaid principal
                  balance and number of mortgage loans serviced by the
                  Servicer.

              	
                X

              
	
                1122(d)(3)(ii)

              	
                Amounts
                  due to investors are allocated and remitted in accordance with
                  timeframes,
                  distribution priority and other terms set forth in the transaction
                  agreements.

              	
                X

              
	
                1122(d)(3)(iii)

              	
                Disbursements
                  made to an investor are posted within two business days to the
                  Servicer’s
                  investor records, or such other number of days specified in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(3)(iv)

              	
                Amounts
                  remitted to investors per the investor reports agree with cancelled
                  checks, or other form of payment, or custodial bank
                  statements.

              	
                X

              
	 	 	 
	
                 

              	
                Pool
                  Asset Administration

              	 
	
                1122(d)(4)(i)

              	
                Collateral
                  or security on mortgage loans is maintained as required by the
                  transaction
                  agreements or related mortgage loan documents.

              	
                X

              
	
                1122(d)(4)(ii)

              	
                Mortgage
                  loan and related documents are safeguarded as required by the transaction
                  agreements

              	
                X

              
	
                1122(d)(4)(iii)

              	
                Any
                  additions, removals or substitutions to the asset pool are made,
                  reviewed
                  and approved in accordance with any conditions or requirements
                  in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(4)(iv)

              	
                Payments
                  on mortgage loans, including any payoffs, made in accordance with
                  the
                  related mortgage loan documents are posted to the Servicer’s obligor
                  records maintained no more than two business days after receipt,
                  or such
                  other number of days specified in the transaction agreements, and
                  allocated to principal, interest or other items (e.g., escrow)
                  in
                  accordance with the related mortgage loan documents.

              	
                X

              
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the mortgage loans agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal
                  balance.

              	
                X

              
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's mortgage loans
                  (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents.

              	
                X

              
	
                1122(d)(4)(vii)

              	
                Loss
                  mitigation or recovery actions (e.g., forbearance plans, modifications
                  and
                  deeds in lieu of foreclosure, foreclosures and repossessions, as
                  applicable) are initiated, conducted and concluded in accordance
                  with the
                  timeframes or other requirements established by the transaction
                  agreements.

              	
                X

              
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a mortgage
                  loan is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent mortgage loans including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or
                  unemployment).

              	
                X

              
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for mortgage loans with variable
                  rates are computed based on the related mortgage loan
                  documents.

              	
                X

              
	
                1122(d)(4)(x)

              	
                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s mortgage loan
                  documents, on at least an annual basis, or such other period specified
                  in
                  the transaction agreements; (B) interest on such funds is paid,
                  or
                  credited, to obligors in accordance with applicable mortgage loan
                  documents and state laws; and (C) such funds are returned to the
                  obligor
                  within 30 calendar days of full repayment of the related mortgage
                  loans,
                  or such other number of days specified in the transaction
                  agreements.

              	
                X

              
	
                1122(d)(4)(xi)

              	
                Payments
                  made on behalf of an obligor (such as tax or insurance payments)
                  are made
                  on or before the related penalty or expiration dates, as indicated
                  on the
                  appropriate bills or notices for such payments, provided that such
                  support
                  has been received by the servicer at least 30 calendar days prior
                  to these
                  dates, or such other number of days specified in the transaction
                  agreements.

              	
                X

              
	
                1122(d)(4)(xii)

              	
                Any
                  late payment penalties in connection with any payment to be made
                  on behalf
                  of an obligor are paid from the servicer’s funds and not charged to the
                  obligor, unless the late payment was due to the obligor’s error or
                  omission.

              	
                X

              
	
                1122(d)(4)(xiii)

              	
                Disbursements
                  made on behalf of an obligor are posted within two business days
                  to the
                  obligor’s records maintained by the servicer, or such other number of days
                  specified in the transaction agreements.

              	
                X

              
	
                1122(d)(4)(xiv)

              	
                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements.

              	
                X

              
	
                1122(d)(4)(xv)

              	
                Any
                  external enhancement or other support, identified in Item 1114(a)(1)
                  through (3) or Item 1115 of Regulation AB, is maintained as set
                  forth in
                  the transaction agreements.

              	 
	
                 

              	
                 

              	
                 

              

      

      

       

      Exhibit
        G

       

      Affiliations

       

      The
        Company is affiliated with the Master Servicer, Securities Administrator
        and the
        Custodian for this transaction.

    

     

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      J

     

    FORM
      OF
      MORTGAGE LOAN PURCHASE AGREEMENT

     

    MORTGAGE
      LOAN PURCHASE AGREEMENT, dated as of May 31, 2006, as amended and supplemented
      by any and all amendments hereto (collectively, the “Agreement”),
      by
      and between EMC MORTGAGE CORPORATION, a Delaware corporation (the “Mortgage
      Loan Seller”)
      and
      STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., a Delaware corporation (the
      “Purchaser”).

     

    Upon
      the
      terms and subject to the conditions of this Agreement, the Mortgage Loan Seller
      agrees to sell, and the Purchaser agrees to purchase, certain conventional,
      first lien mortgage loans secured primarily by one- to four-family residential
      properties and individual condominium units (collectively, the “Mortgage
      Loans”)
      as
      described herein. The Purchaser intends to deposit the Mortgage Loans into
      a
      trust fund (the “Trust
      Fund”)
      and
      create Bear Stearns ARM Trust 2006-2, Mortgage Pass-Through Certificates, Series
      2006-2 (the “Certificates”),
      under
      a pooling and servicing agreement, to be dated as of May 1, 2006 (the
“Pooling
      and Servicing Agreement”),
      among
      the Purchaser, as depositor, Wells Fargo Bank, N.A., as master servicer and
      securities administrator, U.S. Bank National Association, as trustee (the
“Trustee”)
      and
      EMC Mortgage Corporation, as seller.

     

    The
      Purchaser has filed with the Securities and Exchange Commission (the
“Commission”)
      a
      registration statement on Form S-3 (Number 333-132232) relating to its Mortgage
      Pass-Through Certificates and the offering of certain series thereof (including
      certain classes of the Certificates) from time to time in accordance with Rule
      415 under the Securities Act of 1933, as amended, and the rules and regulations
      of the Commission promulgated thereunder (the “Securities
      Act”).
      Such
      registration statement, when it became effective under the Securities Act,
      and
      the prospectus relating to the public offering of certain classes of the
      Certificates by the Purchaser (the “Public
      Offering”),
      as
      each may be amended or supplemented from time to time pursuant to the Securities
      Act or otherwise, are referred to herein as the “Registration
      Statement”
and
      the
“Prospectus,”
      respectively. The “Prospectus
      Supplement”
shall
      mean that supplement, dated May 26, 2006, to the Prospectus, dated March 28,
      2006, relating to certain classes of the Certificates. With respect to the
      Public Offering of certain classes of the Certificates, the Purchaser and Bear,
      Stearns & Co. Inc. (“Bear
      Stearns”)
      have
      entered into a terms agreement dated as of May 31, 2006 to an underwriting
      agreement dated May 12, 2006, between the Purchaser and Bear Stearns (together,
      the “Underwriting
      Agreement”).

     

    Now,
      therefore, in consideration of the premises and the mutual agreements set forth
      herein, the parties hereto agree as follows:

     

    Definitions.
      Certain
      terms are defined herein. Capitalized terms used herein but not defined herein
      shall have the meanings specified in the Pooling and Servicing Agreement. The
      following other terms are defined as follows:

     

    Acquisition
      Price:
      Cash in
      an amount equal to $______ (plus $______ in accrued interest).2 

     

    Bear
      Stearns:
      Bear,
      Stearns & Co. Inc.

     

    Closing
      Date:
      May 31,
      2006.

     

    Cut-off
      Date:
      May 1,
      2006.

     

    Cut-off
      Date Balance:
      $[     ].

    
      

      
        2
          Please
          contact Bear, Stearns & Co. Inc. for Purchase Price.

         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

    

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

     

    Due
      Date:
      With
      respect to each Mortgage Loan, the date in each month on which its scheduled
      payment is due if such due date is the first day of a month and otherwise is
      deemed to be the first day of the following month or such other date specified
      in the related Servicing Agreement.

     

    Fitch:
      Fitch,
      Inc., or its successors in interest.

     

    Master
      Servicer:
      Wells
      Fargo Bank, N.A..

     

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

     

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

     

    Mortgage:
      The
      mortgage or deed of trust creating a first lien on an interest in real property
      securing a Mortgage Note.

     

    Mortgage
      File:
      The
      items referred to in Exhibit
      1
      pertaining to a particular Mortgage Loan and any additional documents required
      to be added to such documents pursuant to this Agreement or the Pooling and
      Servicing Agreement.

     

    Mortgage
      Interest Rate:
      The
      annual rate of interest borne by a Mortgage Note as stated therein.

     

    Mortgagor:
      The
      obligor(s) on a Mortgage Note.

     

    Net
      Rate:
      For
      each Mortgage Loan, the Mortgage Interest Rate for such Mortgage Loan less
      the
      Servicing Fee Rate and the Lender-Paid PMI Rate (if applicable).

     

    Opinion
      of Counsel:
      A
      written opinion of counsel, who may be counsel for the Mortgage Loan Seller
      or
      the Purchaser, reasonably acceptable to the Trustee.

     

    Person:
      Any
      legal person, including any individual, corporation, partnership, joint venture,
      association, joint stock company, trust, unincorporated organization or
      government or any agency or political subdivision thereof.

     

    Purchase
      Price:
      With
      respect to any Mortgage Loan (or any property acquired with respect thereto)
      required to be repurchased by the Mortgage Loan Seller pursuant to this
      Agreement or Article II of the Pooling and Servicing Agreement, an amount equal
      to the sum of (i)(a) 100% of the Outstanding Principal Balance of such Mortgage
      Loan as of the date of repurchase (or if the related Mortgaged Property was
      acquired with respect thereto, 100% of the Outstanding Principal Balance at
      the
      date of the acquisition), plus (b) accrued but unpaid interest on the
      Outstanding Principal Balance at the related Mortgage Interest Rate, through
      and
      including the last day of the month of repurchase, plus (c) any unreimbursed
      Monthly Advances and servicing advances payable to the Servicer of the Mortgage
      Loan and (ii) any costs and damages (if any) incurred by the Trust in connection
      with any violation of such Mortgage Loan of any anti-predatory lending
      laws.

     

    Rating
      Agencies:
      Standard & Poor’s and Fitch, each a “Rating
      Agency.”

     

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

     

    Security
      Instrument:
      A
      written instrument creating a valid first lien on a Mortgaged Property securing
      a Mortgage Note, which may be any applicable form of mortgage, deed of trust,
      deed to secure debt or security deed, including any riders or addenda
      thereto.

     

    Servicing
      Agreements:
      Shall
      have the meaning assigned to such term in the Pooling and Servicing
      Agreement.

     

    Standard
      & Poor’s:
      Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. or its
      successors in interest.

     

    Substitute
      Mortgage Loan:
      A
      mortgage loan substituted for a Deleted Mortgage Loan which must meet, on the
      date of such substitution, the requirements stated herein and in the Pooling
      and
      Servicing Agreement with respect to such substitution; upon such substitution,
      such mortgage loan shall be a “Mortgage Loan” hereunder.

     

    Value:
      The
      value of the Mortgaged Property at the time of origination of the related
      Mortgage Loan, such value being the lesser of (i) the value of such property
      set
      forth in an appraisal accepted by the applicable originator of the Mortgage
      Loan
      or (ii) the sales price of such property at the time of
      origination.

     

    SECTION
      1.  Purchase
      and Sale of the Mortgage Loans and Related Rights.  

     

    (a)  Upon
      satisfaction of the conditions set forth in Section 10 hereof, the Mortgage
      Loan
      Seller agrees to sell, and the Purchaser agrees to purchase Mortgage Loans
      having an aggregate outstanding principal balance as of the Cut-off Date equal
      to the Cut-off Date Balance.

     

    (b)  The
      closing for the purchase and sale of the Mortgage Loans and the closing for
      the
      issuance of the Certificates will take place on the Closing Date at the office
      of the Purchaser’s counsel in New York, New York or such other place as the
      parties shall agree.

     

    (c)  Upon
      the
      satisfaction of the conditions set forth in Section 10 hereof, on the Closing
      Date, the Purchaser shall pay to the Mortgage Loan Seller the Acquisition Price
      for the Mortgage Loans in immediately available funds by wire transfer to such
      account or accounts as shall be designated by the Mortgage Loan
      Seller.

     

    (d)  In
      addition to the foregoing, on the Closing Date the Mortgage Loan Seller assigns
      to the Purchaser all of its right, title and interest in the Servicing
      Agreements (other than its right to enforce the representations and warranties
      set forth therein).

     

    SECTION
      2.  Mortgage
      Loan Schedules.  The
      Mortgage Loan Seller agrees to provide to the Purchaser as of the date hereof
      a
      preliminary listing of the Mortgage Loans (the “Preliminary
      Mortgage Loan Schedule”)
      setting forth the information listed on Exhibit
      2
      to this
      Agreement with respect to each of the Mortgage Loans being sold by the Mortgage
      Loan Seller. If there are changes to the Preliminary Mortgage Loan Schedule,
      the
      Mortgage Loan Seller shall provide to the Purchaser as of the Closing Date
      a
      final schedule (the “Final
      Mortgage Loan Schedule”)
      setting forth the information listed on Exhibit 2 to this Agreement with respect
      to each of the Mortgage Loans being sold by the Mortgage Loan Seller to the
      Purchaser. The Final Mortgage Loan Schedule shall be delivered to the Purchaser
      on the Closing Date, shall be attached to an amendment to this Agreement to
      be
      executed on the Closing Date by the parties hereto and shall be in form and
      substance mutually agreed to by the Mortgage Loan Seller and the Purchaser
      (the
“Amendment”).
      If
      there are no changes to the Preliminary Mortgage Loan Schedule, the Preliminary
      Mortgage Loan Schedule shall be the Final Mortgage Loan Schedule for all
      purposes hereof.

     

    SECTION
      3.  Mortgage
      Loan Transfer. 

     

    (a)  The
      Purchaser will be entitled to all scheduled payments of principal and interest
      on the Mortgage Loans due after the Cut-off Date (regardless of when actually
      collected) and all payments thereon, other than scheduled principal and interest
      due on or before the Cut-off Date but received after the Cut-off Date. The
      Mortgage Loan Seller will be entitled to all scheduled payments of principal
      and
      interest on the Mortgage Loans due on or before the Cut-off Date (including
      payments collected after the Cut-off Date) and all payments thereon, other
      than
      scheduled principal and interest due after the Cut-off Date but received on
      or
      before the Cut-off Date. Such principal amounts and any interest thereon
      belonging to the Mortgage Loan Seller as described above will not be included
      in
      the aggregate outstanding principal balance of the Mortgage Loans as of the
      Cut-off Date as set forth on the Final Mortgage Loan Schedule.

     

    (b)  Pursuant
      to various conveyance documents to be executed on the Closing Date and pursuant
      to the Pooling and Servicing Agreement, the Purchaser will assign on the Closing
      Date all of its right, title and interest in and to the Mortgage Loans to the
      Trustee for the benefit of the Certificateholders. In connection with the
      transfer and assignment of the Mortgage Loans, the Mortgage Loan Seller has
      delivered or will deliver or cause to be delivered to the Trustee by the Closing
      Date or such later date as is agreed to by the Purchaser and the Mortgage Loan
      Seller (each of the Closing Date and such later date is referred to as a
“Mortgage
      File Delivery Date”),
      the
      items of each Mortgage File, provided,
      however,
      that in
      lieu of the foregoing, the Mortgage Loan Seller may deliver the following
      documents, under the circumstances set forth below: (i) in lieu of the original
      Security Instrument, assignments to the Trustee or intervening assignments
      thereof which have been delivered, are being delivered or will, upon receipt
      of
      recording information relating to the Security Instrument required to be
      included thereon, be delivered to recording offices for recording and have
      not
      been returned to the Mortgage Loan Seller in time to permit their delivery
      as
      specified above, the Mortgage Loan Seller may deliver a true copy thereof with
      a
      certification by the Mortgage Loan Seller, on the face of such copy,
      substantially as follows: “Certified to be a true and correct copy of the
      original, which has been transmitted for recording”; (ii) in lieu of the
      Security Instrument, assignments to the Trustee or intervening assignments
      thereof, if the applicable jurisdiction retains the originals of such documents
      (as evidenced by a certification from the Mortgage Loan Seller to such effect)
      the Mortgage Loan Seller may deliver photocopies of such documents containing
      an
      original certification by the judicial or other governmental authority of the
      jurisdiction where such documents were recorded; (iii) in lieu of the Mortgage
      Notes relating to the Mortgage Loans, each identified in the list delivered
      by
      the Purchaser to the Trustee on the Closing Date and attached hereto as Exhibit
      5, the Mortgage Loan Seller may deliver lost note affidavits and indemnities
      of
      the Mortgage Loan Seller; and (iv) the Mortgage Loan Seller shall not be
      required to deliver intervening assignments or Mortgage Note endorsements
      between the related Underlying Seller and the Mortgage Loan Seller, between
      the
      Mortgage Loan Seller and the Depositor, and between the Depositor and the
      Trustee; and provided further, however, that in the case of Mortgage Loans
      which
      have been prepaid in full after the Cut-off Date and prior to the Closing Date,
      the Mortgage Loan Seller, in lieu of delivering the above documents, may deliver
      to the Trustee a certification by the Mortgage Loan Seller or the Master
      Servicer to such effect and shall deposit all amounts paid in respect of such
      Mortgage Loans in the Master Servicer Collection Account on the Closing Date.
      The Mortgage Loan Seller shall deliver such original documents (including any
      original documents as to which certified copies had previously been delivered)
      or such certified copies to the Trustee promptly after they are received. The
      Mortgage Loan Seller shall cause the Mortgage and intervening assignments,
      if
      any, and the assignment of the Security Instrument to be recorded not later
      than
      180 days after the Closing Date, unless such assignment is not required to
      be
      recorded under the terms set forth in Section 6(a) hereof.

     

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

     

    The
      Mortgage Loan Seller and the Purchaser acknowledge hereunder that all of the
      Mortgage Loans and the related servicing will ultimately be assigned to U.S.
      Bank National Association, as Trustee for the Certificateholders, on the date
      hereof.

     

    SECTION
      4.  Examination
      of Mortgage Files. 

     

    (a)  On
      or
      before the Mortgage File Delivery Date, the Mortgage Loan Seller will have
      made
      the Mortgage Files available to the Purchaser or its agent for examination
      which
      may be at the offices of the Trustee or the Mortgage Loan Seller and/or the
      Mortgage Loan Seller’s custodian. The fact that the Purchaser or its agent has
      conducted or has failed to conduct any partial or complete examination of the
      Mortgage Files shall not affect the Purchaser’s rights to demand cure,
      repurchase, substitution or other relief as provided in this Agreement. In
      furtherance of the foregoing, the Mortgage Loan Seller shall make the Mortgage
      Files available to the Purchaser or its agent from time to time so as to permit
      the Purchaser to confirm the Mortgage Loan Seller’s compliance with the delivery
      and recordation requirements of this Agreement and the Pooling and Servicing
      Agreement. In addition, upon request of the Purchaser, the Mortgage Loan Seller
      agrees to provide to the Purchaser, Bear Stearns and to any investors or
      prospective investors in the Certificates information regarding the Mortgage
      Loans and their servicing, to make the Mortgage Files available to the
      Purchaser, Bear Stearns and to such investors or prospective investors (which
      may be at the offices of the Mortgage Loan Seller and/or the Mortgage Loan
      Seller’s custodian) and to make available personnel knowledgeable about the
      Mortgage Loans for discussions with the Purchaser, Bear Stearns and such
      investors or prospective investors, upon reasonable request during regular
      business hours, sufficient to permit the Purchaser, Bear Stearns and such
      investors or potential investors to conduct such due diligence as any such
      party
      reasonably believes is appropriate.

     

    (b)  Pursuant
      to the Pooling and Servicing Agreement, on the Closing Date the Custodian,
      on
      behalf of the Trustee, for the benefit of the Certificateholders, will
      acknowledge receipt of each Mortgage Loan, by delivery to the Mortgage Loan
      Seller, the Purchaser and the Trustee of an initial certification in the form
      attached as Exhibit One to the Custodial Agreement.

     

    (c)  Pursuant
      to the Pooling and Servicing Agreement, within 90 days of the Closing Date
      (or,
      with respect to any Substitute Mortgage Loan, within five business days after
      the receipt by the Trustee or Custodian thereof), the Trustee will review or
      shall cause the Custodian to review items of the Mortgage Files as set forth
      on
Exhibit
      1
      and will
      deliver to the Mortgage Loan Seller, the Purchaser and the Trustee an interim
      certification substantially in the form of Exhibit Two to the Custodial
      Agreement. If the Trustee or Custodian, as its agent, finds any document listed
      on Exhibit
      1
      not to
      have been executed or received, or to be unrelated, determined on the basis
      of
      the Mortgagor name, original principal balance and loan number, to the Mortgage
      Loans identified in the Final Mortgage Loan Schedule or to appear defective
      on
      its face (a “Material
      Defect”),
      the
      Trustee or the Custodian, as its agent, shall promptly notify the Mortgage
      Loan
      Seller of such Material Defect. The Mortgage Loan Seller shall correct or cure
      any such Material Defect within 90 days from the date of notice from the Trustee
      or the Custodian, as its agent, of the Material Defect and if the Mortgage
      Loan
      Seller fails to correct or cure such Material Defect within such period and
      such
      defect materially and adversely affects the interests of the Certificateholders
      in the related Mortgage Loan, the Mortgage Loan Seller will, in accordance
      with
      the terms of the Pooling and Servicing Agreement, within 90 days of the date
      of
      notice, provide the Trustee with a Substitute Mortgage Loan (if within two
      years
      of the Closing Date) or purchase the related Mortgage Loan at the applicable
      Purchase Price; provided
      that,
      if such
      defect would cause the Mortgage Loan to be other than a “qualified mortgage” as
      defined in Section 860G(a)(3) of the Code, any such cure, repurchase or
      substitution must occur within 90 days from the date such breach was discovered;
      provided, however,
      that if
      such defect relates solely to the inability of the Mortgage Loan Seller to
      deliver the original Security Instrument or intervening assignments thereof,
      or
      a certified copy because the originals of such documents, or a certified copy,
      have not been returned by the applicable jurisdiction, the Mortgage Loan Seller
      shall not be required to purchase such Mortgage Loan if the Mortgage Loan Seller
      delivers such original documents or certified copy promptly upon receipt, but
      in
      no event later than 360 days after the Closing Date. The foregoing repurchase
      obligation shall not apply in the event that the Mortgage Loan Seller cannot
      deliver such original or copy of any document submitted for recording to the
      appropriate recording office in the applicable jurisdiction because such
      document has not been returned by such office; provided that the Mortgage Loan
      Seller shall instead deliver a recording receipt of such recording office or,
      if
      such receipt is not available, a certificate confirming that such documents
      have
      been accepted for recording, and delivery to the Trustee or the Custodian,
      as
      its agent, shall be effected by the Mortgage Loan Seller within thirty days
      of
      its receipt of the original recorded document.

     

    (d)  Pursuant
      to the Pooling and Servicing Agreement, within 180 days of the Closing Date
      (or,
      with respect to any Substitute Mortgage Loan, within five business days after
      the receipt by the Trustee or Custodian thereof) the Trustee will review or
      cause the Custodian to review items of the Mortgage Files as set forth on
Exhibit
      1
      and will
      deliver to the Mortgage Loan Seller, the Purchaser and the Trustee a final
      certification substantially in the form of Exhibit Three to the Custodial
      Agreement. If the Trustee or Custodian, as its agent, finds a Material Defect,
      the Trustee or the Custodian, as its agent, shall promptly notify the Mortgage
      Loan Seller of such Material Defect. The Mortgage Loan Seller shall correct
      or
      cure any such Material Defect within 90 days from the date of notice from the
      Trustee or the Custodian, as its agent, of the Material Defect and if the
      Mortgage Loan Seller fails to correct or cure such Material Defect within such
      period and such defect materially and adversely affects the interests of the
      Certificateholders in the related Mortgage Loan, the Mortgage Loan Seller will,
      in accordance with the terms of the Pooling and Servicing Agreement, within
      90
      days of the date of notice, provide the Trustee with a Substitute Mortgage
      Loan
      (if within two years of the Closing Date) or purchase the related Mortgage
      Loan
      at the applicable Purchase Price; provided
      that,
      if such
      defect would cause the Mortgage Loan to be other than a “qualified mortgage” as
      defined in Section 860G(a)(3) of the Code, any such cure, repurchase or
      substitution must occur within 90 days from the date such breach was discovered;
      provided, however,
      that if
      such defect relates solely to the inability of the Mortgage Loan Seller to
      deliver the original Security Instrument or intervening assignments thereof,
      or
      a certified copy because the originals of such documents, or a certified copy,
      have not been returned by the applicable jurisdiction, the Mortgage Loan Seller
      shall not be required to purchase such Mortgage Loan if the Mortgage Loan Seller
      delivers such original documents or certified copy promptly upon receipt, but
      in
      no event later than 360 days after the Closing Date. The foregoing repurchase
      obligation shall not apply in the event that the Mortgage Loan Seller cannot
      deliver such original or copy of any document submitted for recording to the
      appropriate recording office in the applicable jurisdiction because such
      document has not been returned by such office; provided that the Mortgage Loan
      Seller shall instead deliver a recording receipt of such recording office or,
      if
      such receipt is not available, a certificate confirming that such documents
      have
      been accepted for recording, and delivery to the Trustee or the Custodian,
      as
      its agent, shall be effected by the Mortgage Loan Seller within thirty days
      of
      its receipt of the original recorded document.

     

    (e)  At
      the
      time of any substitution, the Mortgage Loan Seller shall deliver or cause to
      be
      delivered the Substitute Mortgage Loan, the related Mortgage File and any other
      documents and payments required to be delivered in connection with a
      substitution pursuant to the Pooling and Servicing Agreement. At the time of
      any
      purchase or substitution, the Trustee in accordance with the terms of the
      Pooling and Servicing Agreement shall (i) assign to the Mortgage Loan Seller
      and
      cause the Custodian to release the documents (including, but not limited to,
      the
      Mortgage, Mortgage Note and other contents of the Mortgage File) in the
      possession of the Custodian relating to the Deleted Mortgage Loan and (ii)
      execute and deliver such instruments of transfer or assignment, in each case
      without recourse, as shall be necessary to vest in the Mortgage Loan Seller
      title to such Deleted Mortgage Loan.

     

    SECTION
      5.  Recordation
      of Assignments of Mortgage. 

     

    (a)  The
      Mortgage Loan Seller shall cause each assignment of the Security Instrument
      from
      the Mortgage Loan Seller to the Trustee to be recorded not later than 180 days
      after the Closing Date, unless (a) such recordation is not required by the
      Rating Agencies or an Opinion of Counsel has been provided to the Trustee (with
      a copy to the Custodian) which states that the recordation of such assignment
      is
      not necessary to protect the interests of the Certificateholders in the related
      Mortgage Loans or (b) MERS is identified on the Mortgage or on a properly
      recorded assignment of the Mortgage, as the Mortgagee of record solely as
      nominee for the Mortgage Loan Seller and its successors and assigns;
provided,
      however,
      notwithstanding the delivery of any such Opinion of Counsel, each assignment
      of
      Mortgage shall be submitted for recording by the Mortgage Loan Seller in the
      manner described above, at no expense to the Trust Fund or Trustee, upon the
      earliest to occur of (i) reasonable direction by the Holders of Certificates
      evidencing Fractional Undivided Interests aggregating not less than 25% of
      the
      Trust, (ii) the occurrence of an Event of Default, (iii) the occurrence of
      a
      bankruptcy, insolvency or foreclosure relating to the Mortgage Loan Seller
      and,
      (iv) the occurrence of a servicing transfer as described in Section 8.02 of
      the
      Pooling and Servicing Agreement.

     

    (b)  While
      each such Mortgage or assignment is being recorded, if necessary, the Mortgage
      Loan Seller shall leave or cause to be left with the Trustee a certified copy
      of
      such Mortgage or assignment. All customary recording fees and reasonable
      expenses relating to the recordation of the assignments of mortgage to the
      Trustee or the Opinion of Counsel, as the case may be, shall be borne by the
      Mortgage Loan Seller.

     

    (c)  It
      is the
      express intent of the parties hereto that the conveyance of the Mortgage Loans
      by the Mortgage Loan Seller to the Purchaser, as contemplated by this Agreement
      be, and be treated as, a sale. It is, further, not the intention of the parties
      that such conveyance be deemed a pledge of the Mortgage Loans by the Mortgage
      Loan Seller to the Purchaser to secure a debt or other obligation of the
      Mortgage Loan Seller. However, in the event that, notwithstanding the intent
      of
      the parties, the Mortgage Loans are held by a court of competent jurisdiction
      to
      continue to be property of the Mortgage Loan Seller, then (i) this Agreement
      shall also be deemed to be a security agreement within the meaning of Articles
      8
      and 9 of the applicable Uniform Commercial Code; (ii) the transfer of the
      Mortgage Loans provided for herein shall be deemed to be a grant by the Mortgage
      Loan Seller to the Purchaser of a security interest in all of the Mortgage
      Loan
      Seller’s right, title and interest in and to the Mortgage Loans and all amounts
      payable to the holders of the Mortgage Loans in accordance with the terms
      thereof and all proceeds of the conversion, voluntary or involuntary, of the
      foregoing into cash, instruments, securities or other property, to the extent
      the Purchaser would otherwise be entitled to own such Mortgage Loans and
      proceeds pursuant to Section 4 hereof, including all amounts, other than
      investment earnings, from time to time held or invested in any accounts created
      pursuant to the Pooling and Servicing Agreement, whether in the form of cash,
      instruments, securities or other property; (iii) the possession by the Purchaser
      or the Trustee of Mortgage Notes and such other items of property as constitute
      instruments, money, negotiable documents or chattel paper shall be deemed to
      be
“possession by the secured party” for purposes of perfecting the security
      interest pursuant to Section 9-313 (or comparable provision) of the applicable
      Uniform Commercial Code; and (iv) notifications to persons holding such
      property, and acknowledgments, receipts or confirmations from persons holding
      such property, shall be deemed notifications to, or acknowledgments, receipts
      or
      confirmations from, financial intermediaries, bailees or agents (as applicable)
      of the Purchaser for the purpose of perfecting such security interest under
      applicable law. Any assignment of the interest of the Purchaser pursuant to
      any
      provision hereof or pursuant to the Pooling and Servicing Agreement shall also
      be deemed to be an assignment of any security interest created hereby. The
      Mortgage Loan Seller and the Purchaser shall, to the extent consistent with
      this
      Agreement, take such actions as may be reasonably necessary to ensure that,
      if
      this Agreement were deemed to create a security interest in the Mortgage Loans,
      such security interest would be deemed to be a perfected security interest
      of
      first priority under applicable law and will be maintained as such throughout
      the term of the Pooling and Servicing Agreement.

     

    SECTION
      6.  Representations
      and Warranties of Mortgage Loan Seller Concerning the Mortgage
      Loans.
      The
      Mortgage Loan Seller hereby represents and warrants to the Purchaser as of
      the
      Closing Date, or such other date as may be specified below with respect to
      each
      Mortgage Loan being sold by it, that:

     

    (i)  the
      information set forth in the Mortgage Loan Schedule hereto is true and correct
      in all material respects;

     

    (ii)  immediately
      prior to the transfer to the Purchaser, the Mortgage Loan Seller was the sole
      owner of beneficial title and holder of each Mortgage and Mortgage Note relating
      to the Mortgage Loans and is conveying the same free and clear of any and all
      liens, claims, encumbrances, participation interests, equities, pledges, charges
      or security interests of any nature and the Mortgage Loan Seller has full right
      and authority to sell or assign the same pursuant to this
      Agreement;

     

    (iii)  each
      Mortgage Loan at the time it was made complied in all material respects with
      all
      applicable laws and regulations, including, without limitation, usury, equal
      credit opportunity, disclosure and recording laws and all applicable predatory,
      abusive and fair lending laws; and each Mortgage Loan has been serviced in
      all
      material respects in accordance with all applicable laws and regulations,
      including, without limitation, usury, equal credit opportunity, disclosure
      and
      recording laws and all applicable anti-predatory lending laws and the terms
      of
      the related Mortgage Note, the Mortgage and other loan documents;

     

    (iv)  there
      is
      no monetary default existing under any Mortgage or the related Mortgage Note
      and
      there is no material event which, with the passage of time or with notice and
      the expiration of any grace or cure period, would constitute a default, breach
      or event of acceleration; and neither the Mortgage Loan Seller, any of its
      affiliates nor any servicer of any related Mortgage Loan has taken any action
      to
      waive any default, breach or event of acceleration; and no foreclosure action
      is
      threatened or has been commenced with respect to the Mortgage Loan;

     

    (v)  the
      terms
      of the Mortgage Note and the Mortgage have not been impaired, waived, altered
      or
      modified in any respect, except by written instruments, (i) if required by
      law
      in the jurisdiction where the Mortgaged Property is located, or (ii) to protect
      the interests of the Trustee on behalf of the Certificateholders;

     

    (vi)  no
      selection procedure reasonably believed by the Mortgage Loan Seller to be
      adverse to the interests of the Certificateholders was utilized in selecting
      the
      Mortgage Loans;

     

    (vii)  each
      Mortgage is a valid and enforceable first lien on the property securing the
      related Mortgage Note and each Mortgaged Property is owned by the Mortgagor
      in
      fee simple (except with respect to common areas in the case of condominiums,
      PUDs and de minimis PUDs) or by leasehold for a term longer than the term of
      the
      related Mortgage, subject only to (i) the lien of current real property taxes
      and assessments, (ii) covenants, conditions and restrictions, rights of way,
      easements and other matters of public record as of the date of recording of
      such
      Mortgage, such exceptions being acceptable to mortgage lending institutions
      generally or specifically reflected in the appraisal obtained in connection
      with
      the origination of the related Mortgage Loan or referred to in the lender’s
      title insurance policy delivered to the originator of the related Mortgage
      Loan
      and (iii) other matters to which like properties are commonly subject which
      do
      not materially interfere with the benefits of the security intended to be
      provided by such Mortgage;

     

    (viii)  there
      is
      no mechanics’ lien or claim for work, labor or material affecting the premises
      subject to any Mortgage which is or may be a lien prior to, or equal with,
      the
      lien of such Mortgage except those which are insured against by the title
      insurance policy referred to in xiii below;

     

    (ix)  there
      was
      no delinquent tax or assessment lien against the property subject to any
      Mortgage, except where such lien was being contested in good faith and a stay
      had been granted against levying on the property;

     

    (x)  there
      is
      no valid offset, defense or counterclaim to any Mortgage Note or Mortgage,
      including the obligation of the Mortgagor to pay the unpaid principal and
      interest on such Mortgage Note;

     

    (xi)  the
      physical property subject to any Mortgage is free of material damage and is
      in
      good repair and there is no proceeding pending or threatened for the total
      or
      partial condemnation of any Mortgaged Property;

     

    (xii)  the
      Mortgaged Property and all improvements thereon comply with all requirements
      of
      any applicable zoning and subdivision laws and ordinances;

     

    (xiii)  a
      lender’s title insurance policy (on an ALTA or CLTA form) or binder, or other
      assurance of title customary in the relevant jurisdiction therefor in a form
      acceptable to Fannie Mae or Freddie Mac, was issued on the date that each
      Mortgage Loan was created by a title insurance company which, to the best of
      the
      Mortgage Loan Seller’s knowledge, was qualified to do business in the
      jurisdiction where the related Mortgaged Property is located, insuring the
      Mortgage Loan Seller and its successors and assigns that the Mortgage is a
      first
      priority lien on the related Mortgaged Property in the original principal amount
      of the Mortgage Loan. The Mortgage Loan Seller is the sole insured under such
      lender’s title insurance policy, and such policy, binder or assurance is valid
      and remains in full force and effect, and each such policy, binder or assurance
      shall contain all applicable endorsements including a negative amortization
      endorsement, if applicable; at the time of origination, each Mortgaged Property
      was the subject of an appraisal which conformed to the underwriting requirements
      of the originator of the Mortgage Loan and, the appraisal is in a form
      acceptable to Fannie Mae or FHLMC;

     

    (xiv)  at
      the
      time of origination, each Mortgaged Property was the subject of an appraisal
      which conformed to the underwriting requirements of the originator of the
      Mortgage Loan and, the appraisal is in a form acceptable to Fannie Mae or
      FHLMC;

     

    (xv)  the
      improvements on each Mortgaged Property securing a Mortgage Loan are insured
      (by
      an insurer which is acceptable to the Mortgage Loan Seller) against loss by
      fire
      and such hazards as are covered under a standard extended coverage endorsement
      in the locale in which the Mortgaged Property is located, in an amount which
      is
      not less than the lesser of the maximum insurable value of the improvements
      securing such Mortgage Loan or the outstanding principal balance of the Mortgage
      Loan, but in no event in an amount less than an amount that is required to
      prevent the Mortgagor from being deemed to be a co-insurer thereunder; if the
      improvement on the Mortgaged Property is a condominium unit, it is included
      under the coverage afforded by a blanket policy for the condominium project;
      if
      upon origination of the related Mortgage Loan, the improvements on the Mortgaged
      Property were in an area identified as a federally designated flood area, a
      flood insurance policy is in effect in an amount representing coverage not
      less
      than the least of (i) the outstanding principal balance of the Mortgage Loan,
      (ii) the restorable cost of improvements located on such Mortgaged Property
      or
      (iii) the maximum coverage available under federal law; and each Mortgage
      obligates the Mortgagor thereunder to maintain the insurance referred to above
      at the Mortgagor’s cost and expense;

     

    (xvi)  each
      Mortgage Loan constitutes a “qualified mortgage” under Section 860G(a)(3)(A) of
      the Code and Treasury Regulation Section 1.860G-2(a)(1), (2), (4), (5), (6),
      (7)
      and (9) without reliance on the provisions of Treasury Regulation Section
      1.860G-2(a)(3) or Treasury Regulation Section 1.860G-2(f)(2) or any other
      provision that would allow a Mortgage Loan to be treated as a “qualified
      mortgage” notwithstanding its failure to meet the requirements of Section
      860G(a)(3)(A) of the Code and Treasury Regulation Section 1.860G-2(a)(1), (2),
      (4), (5), (6), (7) and (9);

     

    (xvii)  none
      of
      the Mortgage Loans are (a) loans subject to 12 CFR Part 226.31, 12 CFR Part
      226.32 or 12 CFR Part 226.34 of Regulation Z, the regulation implementing TILA,
      which implements the Home Ownership and Equity Protection Act of 1994, as
      amended or (b) “high cost home,” “covered” (excluding home loans defined as
“covered home loans” in the New Jersey Home Ownership Security Act of 2002 that
      were originated between November 26, 2003 and July 7, 2004), “high risk home” or
“predatory” loans under any applicable state, federal or local law (or a
      similarly classified loan using different terminology under a law imposing
      heightened regulatory scrutiny or additional legal liability for residential
      mortgage loans having high interest rates, points and/or fees);

     

    (xviii)  the
      information set forth in Schedule A of the Prospectus Supplement with respect
      to
      the Mortgage Loans is true and correct in all material respects; 

     

    (xix)  no
      Mortgage Loan (a) is a “high cost loan” or “covered loan” as applicable (as such
      terms are defined in the then current Standard & Poor’s LEVELS® Glossary,
      which is now Version 5.6c, Appendix E, attached hereto as Exhibit 6 or (b)
      was
      originated on or after October 1, 2002 through March 6, 2003 and is governed
      by
      the Georgia Fair Lending Act;

     

    (xx)  each
      Mortgage Loan was originated in accordance with the underwriting guidelines
      of
      the related originator;

     

    (xxi)  each
      original Mortgage has been recorded or is in the process of being recorded
      in
      accordance with the requirements of Section 2.01 of the Pooling and Servicing
      Agreement in the appropriate jurisdictions wherein such recordation is required
      to perfect the lien thereof for the benefit of the Trust Fund;

     

    (xxii)  the
      related Mortgage File contains each of the documents and instruments listed
      in
      Section 2.01 of the Pooling and Servicing Agreement,
      subject to any exceptions, substitutions and qualifications as are set forth
      in
      such Section;

     

    (xxiii)  the
      Mortgage Loans are currently being serviced in accordance with accepted
      servicing practices; 

     

    (xxiv)  with
      respect to each Mortgage Loan that has a prepayment penalty feature, each such
      prepayment penalty is enforceable and will be enforced by the Mortgage Loan
      Seller and each prepayment penalty is permitted pursuant to federal, state
      and
      local law, provided that (i) no Mortgage Loan will impose a prepayment penalty
      for a term in excess of five years from the date such Mortgage Loan was
      originated and (ii) such prepayment penalty is at least equal to the lesser
      of
      (A) the maximum amount permitted under applicable law and (B) six months
      interest at the related Mortgage Interest Rate on the amount prepaid in excess
      of 20% of the original principal balance of such Mortgage Loan;

     

    (xxv)  if
      any of
      the Mortgage Loans are secured by a leasehold interest, with respect to each
      leasehold interest: the use of leasehold estates for residential properties
      is
      an accepted practice in the area where the related Mortgaged Property is
      located; residential property in such area consisting of leasehold estates
      is
      readily marketable; the lease is recorded and no party is in any way in breach
      of any provision of such lease; the leasehold is in full force and effect and
      is
      not subject to any prior lien or encumbrance by which the leasehold could be
      terminated or subject to any charge or penalty; and the remaining term of the
      lease does not terminate less than ten years after the maturity date of such
      Mortgage Loan; and

     

    (xxvi)  each
      Mortgage Loan was originated (a) by a savings and loan association, savings
      bank, commercial bank, credit union, insurance company or similar institution
      that is supervised and examined by a federal or state authority, (b) by a
      mortgagee approved by the Secretary of Housing and Urban Development pursuant
      to
      Sections 203 and 211 of the National Housing Act, as amended, or (c) by a
      mortgage broker or correspondent lender in a manner such that the related
      Mortgage Loan would be regarded for purposes of Section 3(a)(41) of the
      Securities Exchange Act of 1934, as amended, as having been originated by an
      entity described in clauses (a) or (b) above.

     

    (a)  It
      is
      understood and agreed that the representations and warranties set forth in
      this
      Section 7 will inure to the benefit of the Purchaser, its successors and
      assigns, notwithstanding any restrictive or qualified endorsement on any
      Mortgage Note or assignment of Mortgage or the examination of any Mortgage
      File.
      Upon any substitution for a Mortgage Loan, the representations and warranties
      set forth above shall be deemed to be made by the Mortgage Loan Seller as to
      any
      Substitute Mortgage Loan as of the date of substitution.

     

    (b)  Upon
      discovery or receipt of notice by the Mortgage Loan Seller, the Purchaser or
      the
      Trustee of a breach of any representation or warranty of the Mortgage Loan
      Seller set forth in this Section 7 which materially and adversely affects the
      value of the interests of the Purchaser, the Certificateholders or the Trustee
      in any of the Mortgage Loans delivered to the Purchaser pursuant to this
      Agreement, the party discovering or receiving notice of such breach shall give
      prompt written notice to the others. It is understood and agreed that a breach
      of any one of the representations contained in clauses (xvii) or (xix)(b) above
      will be deemed to materially adversely affect the interests of the related
      Certificateholders. In the case of any such breach of a representation or
      warranty set forth in this Section 7, within 90 days from the date of discovery
      by the Mortgage Loan Seller, or the date the Mortgage Loan Seller is notified
      by
      the party discovering or receiving notice of such breach (whichever occurs
      earlier), the Mortgage Loan Seller will (i) cure such breach in all material
      respects, (ii) purchase the affected Mortgage Loan at the applicable Purchase
      Price or (iii) if within two years of the Closing Date, substitute a qualifying
      Substitute Mortgage Loan in exchange for such Mortgage Loan. The obligations
      of
      the Mortgage Loan Seller to cure, purchase or substitute a qualifying Substitute
      Mortgage Loan shall constitute the Purchaser’s, the Trustee’s and the
      Certificateholder’s sole and exclusive remedy under this Agreement or otherwise
      respecting a breach of representations or warranties hereunder with respect
      to
      the Mortgage Loans, except for the obligation of the Mortgage Loan Seller to
      indemnify the Purchaser for such breach as set forth in and limited by Section
      13 hereof.

     

    (c)  Any
      cause
      of action against the Mortgage Loan Seller or relating to or arising out of
      a
      breach by the Mortgage Loan Seller of any representations and warranties made
      in
      this Section 7 shall accrue as to any Mortgage Loan upon (i) discovery of such
      breach by the Mortgage Loan Seller or notice thereof by the party discovering
      such breach and (ii) failure by the Mortgage Loan Seller to cure such breach,
      purchase such Mortgage Loan or substitute a qualifying Substitute Mortgage
      Loan
      pursuant to the terms hereof.

     

    SECTION
      7.  Representations
      and Warranties Concerning the Mortgage Loan Seller.  As
      of the date hereof and as of the Closing Date, the Mortgage Loan Seller
      represents and warrants to the Purchaser as to itself in the capacity indicated
      as follows:

     

    (i)  the
      Mortgage Loan Seller (i) is a corporation duly organized, validly existing
      and
      in good standing under the laws of the State of Delaware and (ii) is qualified
      and in good standing to do business in each jurisdiction where such
      qualification is necessary, except where the failure so to qualify would not
      reasonably be expected to have a material adverse effect on the Mortgage Loan
      Seller’s business as presently conducted or on the Mortgage Loan Sellers ability
      to enter into this Agreement and to consummate the transactions contemplated
      hereby;

     

    (ii)  the
      Mortgage Loan Seller has full corporate power to own its property, to carry
      on
      its business as presently conducted and to enter into and perform its
      obligations under this Agreement;

     

    (iii)  the
      execution and delivery by the Mortgage Loan Seller of this Agreement have been
      duly authorized by all necessary action on the part of the Mortgage Loan Seller;
      and neither the execution and delivery of this Agreement, nor the consummation
      of the transactions herein contemplated, nor compliance with the provisions
      hereof, will conflict with or result in a breach of, or constitute a default
      under, any of the provisions of any law, governmental rule, regulation,
      judgment, decree or order binding on the Mortgage Loan Seller or its properties
      or the charter or by-laws of the Mortgage Loan Seller, except those conflicts,
      breaches or defaults which would not reasonably be expected to have a material
      adverse effect on the Mortgage Loan Seller’s ability to enter into this
      Agreement and to consummate the transactions contemplated hereby;

     

    (iv)  the
      execution, delivery and performance by the Mortgage Loan Seller of this
      Agreement and the consummation of the transactions contemplated hereby do not
      require the consent or approval of, the giving of notice to, the registration
      with, or the taking of any other action in respect of, any state, federal or
      other governmental authority or agency, except those consents, approvals,
      notices, registrations or other actions as have already been obtained, given
      or
      made and, in connection with the recordation of the Mortgages, powers of
      attorney or assignments of Mortgages not yet completed;

     

    (v)  this
      Agreement has been duly executed and delivered by the Mortgage Loan Seller
      and,
      assuming due authorization, execution and delivery by the Purchaser, constitutes
      a valid and binding obligation of the Mortgage Loan Seller enforceable against
      it in accordance with its terms (subject to applicable bankruptcy and insolvency
      laws and other similar laws affecting the enforcement of the rights of creditors
      generally);

     

    (vi)  there
      are
      no actions, suits or proceedings pending or, to the knowledge of the Mortgage
      Loan Seller, threatened against the Mortgage Loan Seller, before or by any
      court, administrative agency, arbitrator or governmental body (i) with respect
      to any of the transactions contemplated by this Agreement or (ii) with respect
      to any other matter which in the judgment of the Mortgage Loan Seller will
      be
      determined adversely to the Mortgage Loan Seller and will if determined
      adversely to the Mortgage Loan Seller materially and adversely affect the
      Mortgage Loan Seller’s ability to perform its obligations under this Agreement;
      and the Mortgage Loan Seller is not in default with respect to any order of
      any
      court, administrative agency, arbitrator or governmental body so as to
      materially and adversely affect the transactions contemplated by this Agreement;
      and

     

    (vii)  the
      Mortgage Loan Seller’s Information (as defined in Section 13(a) hereof) does not
      include any untrue statement of a material fact or omit to state a material
      fact
      necessary in order to make the statements made, in light of the circumstances
      under which they were made, not misleading.

     

    SECTION
      8.  Representations
      and Warranties Concerning the Purchaser.  As
      of the date hereof and as of the Closing Date, the Purchaser represents and
      warrants to the Mortgage Loan Seller as follows:

     

    (i)  the
      Purchaser (i) is a corporation duly organized, validly existing and in good
      standing under the laws of the State of Delaware and (ii) is qualified and
      in
      good standing as a foreign corporation to do business in each jurisdiction
      where
      such qualification is necessary, except where the failure so to qualify would
      not reasonably be expected to have a material adverse effect on the Purchaser’s
      business as presently conducted or on the Purchaser’s ability to enter into this
      Agreement and to consummate the transactions contemplated hereby;

     

    (ii)  the
      Purchaser has full corporate power to own its property, to carry on its business
      as presently conducted and to enter into and perform its obligations under
      this
      Agreement;

     

    (iii)  the
      execution and delivery by the Purchaser of this Agreement have been duly
      authorized by all necessary corporate action on the part of the Purchaser;
      and
      neither the execution and delivery of this Agreement, nor the consummation
      of
      the transactions herein contemplated, nor compliance with the provisions hereof,
      will conflict with or result in a breach of, or constitute a default under,
      any
      of the provisions of any law, governmental rule, regulation, judgment, decree
      or
      order binding on the Purchaser or its properties or the articles of
      incorporation or by-laws of the Purchaser, except those conflicts, breaches
      or
      defaults which would not reasonably be expected to have a material adverse
      effect on the Purchaser’s ability to enter into this Agreement and to consummate
      the transactions contemplated hereby;

     

    (iv)  the
      execution, delivery and performance by the Purchaser of this Agreement and
      the
      consummation of the transactions contemplated hereby do not require the consent
      or approval of, the giving of notice to, the registration with, or the taking
      of
      any other action in respect of, any state, federal or other governmental
      authority or agency, except those consents, approvals, notices, registrations
      or
      other actions as have already been obtained, given or made;

     

    (v)  this
      Agreement has been duly executed and delivered by the Purchaser and, assuming
      due authorization, execution and delivery by the Mortgage Loan Seller,
      constitutes a valid and binding obligation of the Purchaser enforceable against
      it in accordance with its terms (subject to applicable bankruptcy and insolvency
      laws and other similar laws affecting the enforcement of the rights of creditors
      generally);

     

    (vi)  there
      are
      no actions, suits or proceedings pending or, to the knowledge of the Purchaser,
      threatened against the Purchaser, before or by any court, administrative agency,
      arbitrator or governmental body (i) with respect to any of the transactions
      contemplated by this Agreement or (ii) with respect to any other matter which
      in
      the judgment of the Purchaser will be determined adversely to the Purchaser
      and
      will if determined adversely to the Purchaser materially and adversely affect
      the Purchaser’s ability to perform its obligations under this Agreement; and the
      Purchaser is not in default with respect to any order of any court,
      administrative agency, arbitrator or governmental body so as to materially
      and
      adversely affect the transactions contemplated by this Agreement;
      and

     

    (vii)  the
      Purchaser’s Information (as defined in Section 13(b) hereof) does not include
      any untrue statement of a material fact or omit to state a material fact
      necessary in order to make the statements made, in light of the circumstances
      under which they were made, not misleading.

     

    SECTION
      9.  Conditions
      to Closing. 

     

    (a)  The
      obligations of the Purchaser under this Agreement will be subject to the
      satisfaction, on or prior to the Closing Date, of the following
      conditions:

     

    (b)  Each
      of
      the obligations of the Mortgage Loan Seller required to be performed at or
      prior
      to the Closing Date pursuant to the terms of this Agreement shall have been
      duly
      performed and complied with in all material respects; all of the representations
      and warranties of the Mortgage Loan Seller under this Agreement shall be true
      and correct as of the date or dates specified in all material respects; and
      no
      event shall have occurred which, with notice or the passage of time, would
      constitute a default under this Agreement, or the Pooling and Servicing
      Agreement; and the Purchaser shall have received certificates to that effect
      signed by authorized officers of the Mortgage Loan Seller.

     

    (c)  The
      Purchaser shall have received all of the following closing documents, in such
      forms as are agreed upon and reasonably acceptable to the Purchaser, duly
      executed by all signatories (other than the Purchaser) as required pursuant
      to
      the respective terms thereof:

     

    (i)  If
      required pursuant to Section 3 hereof, the Amendment dated as of the Closing
      Date and any documents referred to therein;

     

    (ii)  If
      required pursuant to Section 3 hereof, the Final Mortgage Loan Schedule
      containing the information set forth on Exhibit 2 hereto, one copy to be
      attached to each counterpart of the Amendment;

     

    (iii)  The
      Pooling and Servicing Agreement, in form and substance reasonably satisfactory
      to the Trustee and the Purchaser, and all documents required thereby duly
      executed by all signatories;

     

    (iv)  A
      certificate of an officer of the Mortgage Loan Seller dated as of the Closing
      Date, in a form reasonably acceptable to the Purchaser, and attached thereto
      the
      resolutions of the Mortgage Loan Seller authorizing the transactions
      contemplated by this Agreement, together with copies of the charter and by-laws
      of the Mortgage Loan Seller;

     

    (v)  One
      or
      more opinions of counsel from the Mortgage Loan Seller’s counsel otherwise in
      form and substance reasonably satisfactory to the Purchaser, the Trustee and
      each Rating Agency;

     

    (vi)  A
      letter
      from each of the Rating Agencies giving each Class of Certificates set forth
      on
      Schedule A the rating set forth on Schedule A; and

     

    (vii)  Such
      other documents, certificates (including additional representations and
      warranties) and opinions as may be reasonably necessary to secure the intended
      ratings from each Rating Agency for the Certificates.

     

    (d)  The
      Certificates to be sold to Bear Stearns pursuant to the Underwriting Agreement
      and the Purchase Agreement shall have been issued and sold to Bear
      Stearns.

     

    (e)  The
      Mortgage Loan Seller shall have furnished to the Purchaser such other
      certificates of its officers or others and such other documents and opinions
      of
      counsel to evidence fulfillment of the conditions set forth in this Agreement
      and the transactions contemplated hereby as the Purchaser and its counsel may
      reasonably request.

     

    (f)  The
      obligations of the Mortgage Loan Seller under this Agreement shall be subject
      to
      the satisfaction, on or prior to the Closing Date, of the following
      conditions:

     

    (g)  The
      obligations of the Purchaser required to be performed by it on or prior to
      the
      Closing Date pursuant to the terms of this Agreement shall have been duly
      performed and complied with in all material respects, and all of the
      representations and warranties of the Purchaser under this Agreement shall
      be
      true and correct in all material respects as of the date hereof and as of the
      Closing Date, and no event shall have occurred which would constitute a breach
      by it of the terms of this Agreement, and the Mortgage Loan Seller shall have
      received a certificate to that effect signed by an authorized officer of the
      Purchaser.

     

    (h)  The
      Mortgage Loan Seller shall have received copies of all of the following closing
      documents, in such forms as are agreed upon and reasonably acceptable to the
      Mortgage Loan Seller, duly executed by all signatories other than the Mortgage
      Loan Seller as required pursuant to the respective terms thereof:

     

    (i)  If
      required pursuant to Section 3 hereof, the Amendment dated as of the Closing
      Date and any documents referred to therein;

     

    (ii)  The
      Pooling and Servicing Agreement, in form and substance reasonably satisfactory
      to the Mortgage Loan Seller, and all documents required thereby duly executed
      by
      all signatories;

     

    (iii)  A
      certificate of an officer of the Purchaser dated as of the Closing Date, in
      a
      form reasonably acceptable to the Mortgage Loan Seller, and attached thereto
      the
      resolutions of the Purchaser authorizing the transactions contemplated by this
      Agreement and the Pooling and Servicing Agreement, together with copies of
      the
      Purchaser’s articles of incorporation, and evidence as to the good standing of
      the Purchaser dated as of a recent date;

     

    (iv)  One
      or
      more opinions of counsel from the Purchaser’s counsel in form and substance
      reasonably satisfactory to the Mortgage Loan Seller;

     

    (v)  Such
      other documents, certificates (including additional representations and
      warranties) and opinions as may be reasonably necessary to secure the intended
      rating from each Rating Agency for the Certificates;

     

    SECTION
      10.  Fees
      and Expenses.  Subject
      to Section 16 hereof, the Mortgage Loan Seller shall pay on the Closing Date
      or
      such later date as may be agreed to by the Purchaser (i) the fees and expenses
      of the Mortgage Loan Seller’s attorneys and the reasonable fees and expenses of
      the Purchaser’s attorneys, (ii) the fees and expenses of Deloitte & Touche
      LLP, (iii) the fee for the use of Purchaser’s Registration Statement based on
      the aggregate original principal amount of the Certificates and the filing
      fee
      of the Commission as in effect on the date on which the Registration Statement
      was declared effective, (iv) the fees and expenses including counsel’s fees and
      expenses in connection with any “blue sky” and legal investment matters, (v) the
      fees and expenses of the Trustee which shall include without limitation the
      fees
      and expenses of the Trustee (and the fees and disbursements of its counsel)
      with
      respect to (A) legal and document review of this Agreement, the Pooling and
      Servicing Agreement, the Certificates and related agreements, (B) attendance
      at
      the Closing and (C) review of the Mortgage Loans to be performed by the
      Custodian, (vi) the expenses for printing or otherwise reproducing the
      Certificates, the Prospectus and the Prospectus Supplement, (vii) the fees
      and
      expenses of each Rating Agency (both initial and ongoing), (viii) the fees
      and
      expenses relating to the preparation and recordation of mortgage assignments
      (including intervening assignments, if any and if available, to evidence a
      complete chain of title from the originator to the Trustee) from the Mortgage
      Loan Seller to the Trustee or the expenses relating to the Opinion of Counsel
      referred to in Section 6(a) hereof, as the case may be, and (ix) Mortgage File
      due diligence expenses and other out-of-pocket expenses incurred by the
      Purchaser in connection with the purchase of the Mortgage Loans and by Bear
      Stearns in connection with the sale of the Certificates. The Mortgage Loan
      Seller additionally agrees to pay directly to any third party on a timely basis
      the fees provided for above which are charged by such third party and which
      are
      billed periodically.

     

    SECTION
      11.  Accountants’
      Letters.  

     

    (a)  Deloitte
      & Touche LLP will review the characteristics of a sample of the Mortgage
      Loans described in the Final Mortgage Loan Schedule and will compare those
      characteristics to the description of the Mortgage Loans contained in the
      Prospectus Supplement under the captions “Summary of Prospectus Supplement—The
      Mortgage Loans” and “The Mortgage Pool” and in Schedule A thereto. The Mortgage
      Loan Seller will cooperate with the Purchaser in making available all
      information and taking all steps reasonably necessary to permit such accountants
      to complete the review and to deliver the letters required of them under the
      Underwriting Agreement. Deloitte & Touche LLP will also confirm certain
      calculations as set forth under the caption “Yield On The Certificates” in the
      Prospectus Supplement.

     

    (b)  To
      the
      extent statistical information with respect to the Master Servicer’s or a
      Servicer’s servicing portfolio is included in the Prospectus Supplement under
      the caption “The Master Servicer and the Servicers,” a letter from the certified
      public accountant for the Master Servicer and such Servicer or Servicers will
      be
      delivered to the Purchaser dated the date of the Prospectus Supplement, in
      the
      form previously agreed to by the Mortgage Loan Seller and the Purchaser, with
      respect to such statistical information.

     

    SECTION
      12.  Indemnification. 

     

    (a)  The
      Mortgage Loan Seller shall indemnify and hold harmless the Purchaser and its
      directors, officers and controlling persons (as defined in Section 15 of the
      Securities Act) from and against any loss, claim, damage or liability or action
      in respect thereof, to which they or any of them may become subject, under
      the
      Securities Act or otherwise, insofar as such loss, claim, damage, liability
      or
      action arises out of, or is based upon (i) any untrue statement of a material
      fact contained in the Mortgage
      Loan Seller’s Information
      as
      identified in Exhibit
      3,
      the
      omission to state in the Prospectus Supplement or Prospectus (or any amendment
      thereof or supplement thereto approved by the Mortgage Loan Seller and in which
      additional Mortgage Loan Seller’s Information is identified), in reliance upon
      and in conformity with Mortgage Loan Seller’s Information a material fact
      required to be stated therein or necessary to make the statements therein in
      light of the circumstances in which they were made, not misleading, (ii) any
      representation or warranty assigned or made by the Mortgage Loan Seller in
      Section 7 or Section 8 hereof being, or alleged to be, untrue or incorrect,
      or
      (iii) any failure by the Mortgage Loan Seller to perform its obligations under
      this Agreement; and the Mortgage Loan Seller shall reimburse the Purchaser
      and
      each other indemnified party for any legal and other expenses reasonably
      incurred by them in connection with investigating or defending or preparing
      to
      defend against any such loss, claim, damage, liability or action.

     

    (b)  The
      foregoing indemnity agreement is in addition to any liability which the Mortgage
      Loan Seller otherwise may have to the Purchaser or any other such indemnified
      party.

     

    (c)  The
      Purchaser shall indemnify and hold harmless the Mortgage Loan Seller and its
      respective directors, officers and controlling persons (as defined in Section
      15
      of the Securities Act) from and against any loss, claim, damage or liability
      or
      action in respect thereof, to which they or any of them may become subject,
      under the Securities Act or otherwise, insofar as such loss, claim, damage,
      liability or action arises out of, or is based upon (i) any untrue statement
      of
      a material fact contained in the Purchaser’s
      Information
      as
      identified in Exhibit
      4,
      the
      omission to state in the Prospectus Supplement or Prospectus (or any amendment
      thereof or supplement thereto approved by the Purchaser and in which additional
      Purchaser’s Information is identified), in reliance upon and in conformity with
      the Purchaser’s Information, a material fact required to be stated therein or
      necessary to make the statements therein in light of the circumstances in which
      they were made, not misleading, (ii) any representation or warranty made by
      the
      Purchaser in Section 9 hereof being, or alleged to be, untrue or incorrect,
      or
      (iii) any failure by the Purchaser to perform its obligations under this
      Agreement; and the Purchaser shall reimburse the Mortgage Loan Seller, and
      each
      other indemnified party for any legal and other expenses reasonably incurred
      by
      them in connection with investigating or defending or preparing to defend any
      such loss, claim, damage, liability or action. The foregoing indemnity agreement
      is in addition to any liability which the Purchaser otherwise may have to the
      Mortgage Loan Seller, or any other such indemnified party,

     

    (d)  Promptly
      after receipt by an indemnified party under subsection (a) or (b) above of
      notice of the commencement of any action, such indemnified party shall, if
      a
      claim in respect thereof is to be made against the indemnifying party under
      such
      subsection, notify each party against whom indemnification is to be sought
      in
      writing of the commencement thereof (but the failure so to notify an
      indemnifying party shall not relieve it from any liability which it may have
      under this Section 13 except to the extent that it has been prejudiced in any
      material respect by such failure or from any liability which it may have
      otherwise). In case any such action is brought against any indemnified party,
      and it notifies an indemnifying party of the commencement thereof, the
      indemnifying party will be entitled to participate therein and, to the extent
      it
      may elect by written notice delivered to the indemnified party promptly (but,
      in
      any event, within 30 days) after receiving the aforesaid notice from such
      indemnified party, to assume the defense thereof with counsel reasonably
      satisfactory to such indemnified party. Notwithstanding the foregoing, the
      indemnified party or parties shall have the right to employ its or their own
      counsel in any such case, but the fees and expenses of such counsel shall be
      at
      the expense of such indemnified party or parties unless (i) the employment
      of
      such counsel shall have been authorized in writing by one of the indemnifying
      parties in connection with the defense of such action, (ii) the indemnifying
      parties shall not have employed counsel to have charge of the defense of such
      action within a reasonable time after notice of commencement of the action,
      or
      (iii) such indemnified party or parties shall have reasonably concluded that
      there is a conflict of interest between itself or themselves and the
      indemnifying party in the conduct of the defense of any claim or that the
      interests of the indemnified party or parties are not substantially co-extensive
      with those of the indemnifying party (in which case the indemnifying parties
      shall not have the right to direct the defense of such action on behalf of
      the
      indemnified party or parties), in any of which events such fees and expenses
      shall be borne by the indemnifying parties (provided,
      however,
      that
      the indemnifying party shall be liable only for the fees and expenses of one
      counsel in addition to one local counsel in the jurisdiction involved. Anything
      in this subsection to the contrary notwithstanding, an indemnifying party shall
      not be liable for any settlement or any claim or action effected without its
      written consent; provided,
      however,
      that
      such consent was not unreasonably withheld.

     

    (e)  If
      the
      indemnification provided for in paragraphs (a) and (b) of this Section 13 shall
      for any reason be unavailable to an indemnified party in respect of any loss,
      claim, damage or liability, or any action in respect thereof, referred to in
      Section 13, then the indemnifying party shall in lieu of indemnifying the
      indemnified party contribute to the amount paid or payable by such indemnified
      party as a result of such loss, claim, damage or liability, or action in respect
      thereof, in such proportion as shall be appropriate to reflect the relative
      benefits received by the Mortgage Loan Seller on the one hand and the Purchaser
      on the other from the purchase and sale of the Mortgage Loans, the offering
      of
      the Certificates and the other transactions contemplated hereunder. No person
      found liable for a fraudulent misrepresentation (within the meaning of Section
      11(f) of the Securities Act) shall be entitled to contribution from any person
      who is not also found liable for such fraudulent misrepresentation.

     

    (f)  The
      parties hereto agree that reliance by an indemnified party on any publicly
      available information or any information or directions furnished by an
      indemnifying party shall not constitute negligence, bad faith or willful
      misconduct by such indemnified party.

     

    SECTION
      13.  Notices.  All
      demands, notices and communications hereunder shall be in writing but may be
      delivered by facsimile transmission subsequently confirmed in writing. Notices
      to the Mortgage Loan Seller shall be directed to EMC Mortgage Corporation,
      2780
      Lake Vista Drive, Lewisville, Texas 75067 (Telecopy: (972) 444-2880), Attention:
      President or General Counsel, and notices to the Purchaser shall be directed
      to
      Structured Asset Mortgage Investments II Inc., 383 Madison Avenue, New York,
      New
      York 10179 (Telecopy: (212) 272-7206), Attention: Baron Silverstein; or to
      any
      other address as may hereafter be furnished by one party to the other party
      by
      like notice. Any such demand, notice or communication hereunder shall be deemed
      to have been received on the date received at the premises of the addressee
      (as
      evidenced, in the case of registered or certified mail, by the date noted on
      the
      return receipt) provided that it is received on a business day during normal
      business hours and, if received after normal business hours, then it shall
      be
      deemed to be received on the next business day.

     

    SECTION
      14.  Transfer
      of Mortgage Loans.  The
      Purchaser retains the right to assign the Mortgage Loans and any or all of
      its
      interest under this Agreement to the Trustee without the consent of the Mortgage
      Loan Seller, and, upon such assignment, the Trustee shall succeed to the
      applicable rights and obligations of the Purchaser hereunder; provided,
      however,
      the
      Purchaser shall remain entitled to the benefits set forth in Sections 11, 13
      and
      17 hereto and as provided in Section 2(a). Notwithstanding the foregoing, the
      sole and exclusive right and remedy of the Trustee with respect to a breach
      of
      representation or warranty of the Mortgage Loan Seller shall be the cure,
      purchase or substitution obligations of the Mortgage Loan Seller contained
      in
      Sections 5 and 7 hereof.

     

    SECTION
      15.  Termination.  This
      Agreement may be terminated (a) by the mutual consent of the parties hereto
      prior to the Closing Date, (b) by the Purchaser, if the conditions to the
      Purchaser’s obligation to close set forth under Section 10(a) hereof are not
      fulfilled as and when required to be fulfilled or (c) by the Mortgage Loan
      Seller, if the conditions to the Mortgage Loan Seller’s obligation to close set
      forth under Section 10(b) hereof are not fulfilled as and when required to
      be
      fulfilled. In the event of termination pursuant to clause (b), the Mortgage
      Loan
      Seller shall pay, and in the event of termination pursuant to clause (c), the
      Purchaser shall pay, all reasonable out-of-pocket expenses incurred by the
      other
      in connection with the transactions contemplated by this Agreement. In the
      event
      of a termination pursuant to clause (a), each party shall be responsible for
      its
      own expenses.

     

    SECTION
      16.  Representations,
      Warranties and Agreements to Survive Delivery.  All
      representations, warranties and agreements contained in this Agreement, or
      contained in certificates of officers of the Mortgage Loan Seller submitted
      pursuant hereto, shall remain operative and in full force and effect and shall
      survive delivery of the Mortgage Loans to the Purchaser (and by the Purchaser
      to
      the Trustee). Subsequent to the delivery of the Mortgage Loans to the Purchaser,
      the Mortgage Loan Seller’s representations and warranties contained herein with
      respect to the Mortgage Loans shall be deemed to relate to the Mortgage Loans
      actually delivered to the Purchaser and included in the Final Mortgage Loan
      Schedule and any Substitute Mortgage Loan and not to those Mortgage Loans
      deleted from the Preliminary Mortgage Loan Schedule pursuant to Section 3 hereof
      prior to the Closing.

     

    SECTION
      17.  Severability.  If
      any provision of this Agreement shall be prohibited or invalid under applicable
      law, the Agreement shall be ineffective only to such extent, without
      invalidating the remainder of this Agreement.

     

    SECTION
      18.  Counterparts.  This
      Agreement may be executed in counterparts, each of which will be an original,
      but which together shall constitute one and the same agreement.

     

    SECTION
      19.  Amendment.  This
      Agreement cannot be amended or modified in any manner without the prior written
      consent of each party.

     

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

     

    SECTION
      21.  Further
      Assurances.  Each
      of the parties agrees to execute and deliver such instruments and take such
      actions as another party may, from time to time, reasonably request in order
      to
      effectuate the purpose and to carry out the terms of this Agreement including
      any amendments hereto which may be required by either Rating
      Agency.

     

    SECTION
      22.  Successors
      and Assigns. 

     

    This
      Agreement shall bind and inure to the benefit of and be enforceable by the
      Mortgage Loan Seller and the Purchaser and their permitted successors and
      assigns and, to the extent specified in Section 13 hereof, Bear Stearns, and
      their directors, officers and controlling persons (within the meaning of federal
      securities laws). The Mortgage Loan Seller acknowledges and agrees that the
      Purchaser may assign its rights under this Agreement (including, without
      limitation, with respect to the Mortgage Loan Seller’s representations and
      warranties respecting the Mortgage Loans) to the Trustee. Any person into which
      the Mortgage Loan Seller may be merged or consolidated (or any person resulting
      from any merger or consolidation involving the Mortgage Loan Seller), any person
      resulting from a change in form of the Mortgage Loan Seller or any person
      succeeding to the business of the Mortgage Loan Seller, shall be considered
      the
“successor” of the Mortgage Loan Seller hereunder and shall be considered a
      party hereto without the execution or filing of any paper or any further act
      or
      consent on the part of any party hereto. Except as provided in the two preceding
      sentences and in Section 15 hereto this Agreement cannot be assigned, pledged
      or
      hypothecated by either party hereto without the written consent of the other
      parties to this Agreement and any such assignment or purported assignment shall
      be deemed null and void.

     

    SECTION
      23.  The
      Mortgage Loan Seller and the Purchaser.
      The
      Mortgage Loan Seller and the Purchaser will keep in full effect all rights
      as
      are necessary to perform their respective obligations under this
      Agreement.

     

    SECTION
      24.  Entire
      Agreement.
      This
      Agreement contains the entire agreement and understanding between the parties
      with respect to the subject matter hereof, and supersedes all prior and
      contemporaneous agreements, understandings, inducements and conditions, express
      or implied, oral or written, of any nature whatsoever with respect to the
      subject matter hereof.

     

    SECTION
      25.  No
      Partnership.  Nothing
      herein contained shall be deemed or construed to create a partnership or joint
      venture between the parties hereto.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

     

    

    

      
         

      

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    IN
      WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto
      by their respective duly authorized officers as of the date first above
      written.

     

    
      	
              EMC
                MORTGAGE CORPORATION

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 
	 
	 
	
              STRUCTURED
                ASSET MORTGAGE INVESTMENTS II INC.

            
	 	 
	
              By:

            	 
	
              Name:

            	
              Baron
                Silverstein

            
	
              Title:

            	
              Vice
                President

            

    

    

     

    

     

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      1

     

    CONTENTS
      OF MORTGAGE FILE

     

    With
      respect to each Mortgage Loan, the Mortgage File shall include each of the
      following items, which shall be available for inspection by the Purchaser or
      its
      designee, and which shall be delivered to the Purchaser or its designee pursuant
      to the terms of the Agreement.

     

    Section
      4.6. with
      respect to each Mortgage Loan:

     

    (a)  The
      original Mortgage Note, endorsed without recourse to the order of the Trustee
      and showing an unbroken chain of endorsements from the originator thereof to
      the
      Person endorsing it to the Trustee, or a lost note affidavit together with
      a
      copy of the related Mortgage Note;

     

    (b)  The
      original Mortgage and, if the related Mortgage Loan is a MOM Loan, noting the
      presence of the MIN and language indicating that such Mortgage Loan is a MOM
      Loan, which shall have been recorded (or if the original is not available,
      a
      copy), with evidence of such recording indicated thereon (or if the original
      is
      not available, a copy), with evidence of such recording indicated thereon (or
      if
      the original Security Instrument, assignments to the Trustee or intervening
      assignments thereof which have been delivered, are being delivered or will,
      upon
      receipt of recording information relating to the Security Instrument required
      to
      be included thereon, be delivered to recording offices for recording and have
      not been returned to the Seller in time to permit their recording as specified
      in Section 2.01(b) of the Pooling and Servicing Agreement, shall be in
      recordable form);

     

    (c)  unless
      the Mortgage Loan is a MOM Loan, a certified copy of the assignment (which
      may
      be in the form of a blanket assignment if permitted in the jurisdiction in
      which
      the Mortgaged Property is located) to “U.S. Bank National Association, as
      Trustee”, with evidence of recording with respect to each Mortgage Loan in the
      name of the Trustee thereon (or if (A) the original Security Instrument,
      assignments to the Trustee or intervening assignments thereof which have been
      delivered, are being delivered or will, upon receipt of recording information
      relating to the Security Instrument required to be included thereon, be
      delivered to recording offices for recording and have not been returned to
      the
      Seller in time to permit their delivery as specified in Section 2.01(b) of
      the
      Pooling and Servicing Agreement, the Seller may deliver a true copy thereof
      with
      a certification by the Seller, on the face of such copy, substantially as
      follows: “Certified to be a true and correct copy of the original, which has
      been transmitted for recording” or (B) the related Mortgaged Property is located
      in a state other than Maryland and an Opinion of Counsel has been provided
      as
      set forth in Section 2.01(b) of the Pooling and Servicing Agreement, shall
      be in
      recordable form);

     

    (d)  all
      intervening assignments of the Security Instrument, if applicable and only
      to
      the extent available to the Mortgage Loan Seller with evidence of recording
      thereon;

     

    (e)  the
      original or a copy of the policy or certificate of primary mortgage guaranty
      insurance, to the extent available, if any;

     

    (f)  the
      original policy of title insurance or mortgagee’s certificate of title insurance
      or commitment or binder for title insurance; and

     

    (g)  originals
      of all modification agreements, if applicable and available.

     

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      2

     

    MORTGAGE
      LOAN SCHEDULE INFORMATION

     

    The
      Preliminary and Final Mortgage Loan Schedules shall set forth the following
      information with respect to each Mortgage Loan:

     

    
      	
              (a)

               

            	
              the
                loan number;

            
	
              (b)

               

            	
              [Reserved];

            
	
              (c)

               

            	
              the
                city, state and zip code of the Mortgaged Property;

            
	
              (d)

               

            	
              the
                property type;

            
	
              (e)

               

            	
              the
                Mortgage Interest Rate;

            
	
              (f)

               

            	
              the
                Servicing Fee Rate;

            
	
              (g)

               

            	
              the
                Net Rate;

            
	
              (h)

               

            	
              the
                original term;

            
	
              (i)

               

            	
              the
                maturity date;

            
	
              (j)

               

            	
              the
                stated remaining term to maturity;

            
	
              (k)

               

            	
              the
                original principal balance;

            
	
              (1)

               

            	
              the
                first payment date;

            
	
              (m)

               

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

            
	
              (n)

               

            	
              the
                unpaid principal balance as of the Cut-off Date;

            
	
              (o)

               

            	
              the
                Loan-to-Value Ratio at origination;

            
	
              (p)

               

            	
              paid-through
                date;

            
	
              (q)

               

            	
              the
                insurer of any Primary Mortgage Insurance Policy;

            
	
              (r)

               

            	
              the
                Gross Margin, if applicable;

            
	
              (s)

               

            	
              the
                Maximum Lifetime Mortgage Rate, if applicable;

            
	
              (t)

               

            	
              the
                Minimum Lifetime Mortgage Rate, if applicable;

            
	
              (u)

               

            	
              the
                Periodic Rate Cap, if applicable;

            
	
              (v)

               

            	
              the
                number of days delinquent, if any;

            
	
              (w)

               

            	
              which
                Mortgage Loans adjust after an initial fixed-rate period of three,
                five,
                seven or ten years;

            
	
              (x)

               

            	
              the
                Loan Group;

            
	
              (y)

               

            	
              the
                Prepayment Charge Loans; and

            
	
              (z)

               

            	
              the
                Servicer.

            

    

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

     

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      3

     

    MORTGAGE
      LOAN SELLER’S INFORMATION

     

    All
      information in the Prospectus Supplement described under the following Sections:
      “SUMMARY OF PROSPECTUS SUPPLEMENT — The Mortgage Loans,” “THE MORTGAGE POOL” and
“SCHEDULE A — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS.”

     

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      4

     

    PURCHASER’S
      INFORMATION

     

    All
      information in the Prospectus Supplement and the Prospectus, except the Mortgage
      Loan Seller’s Information.

     

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      5

     

    SCHEDULE
      OF LOST NOTES

     

    Available
      Upon Request

     

    

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      6

     

    APPENDIX
      E - STANDARD & POOR’S ANTI PREDATORY LENDING CATEGORIZATION

     

    REVISED
      August 1, 2005

    

    Standard
      & Poor’s has categorized loans governed by anti-predatory lending laws in
      the Jurisdictions listed below into three categories based upon a combination
      of
      factors that include (a) the risk exposure associated with the assignee
      liability and (b) the tests and thresholds set forth in those laws. Note that
      certain loans classified by the relevant statute as Covered are included in
      Standard & Poor’s High Cost Loan Category because they included thresholds
      and tests that are typical of what is generally considered High Cost by the
      industry. 

     

    STANDARD
      & POOR’S HIGH COST LOAN CATEGORIZATION 

     

    
      	
              State/Jurisdiction

            	
              Name
                of Anti-Predatory Lending Law/Effective Date

            	
              Category
                under Applicable Anti-Predatory Lending Law

            
	
              Arkansas
                

            	
              Arkansas
                Home Loan Protection Act, Ark. Code Ann. §§ 23-53-101 et seq.
                

              Effective
                July 16, 2003 

            	
              High
                Cost Home Loan 

            
	
              Cleveland
                Heights, OH 

            	
              Ordinance
                No. 72-2003 (PSH), Mun. Code §§ 757.01 et seq.
                

              Effective
                June 2, 2003 

            	
              Covered
                Loan 

            
	
              Colorado
                

            	
              Consumer
                Equity Protection, Colo. Stat. Ann. §§ 5-3.5-101 et seq.
                

              Effective
                for covered loans offered or entered into on or after January 1,
                2003.
                Other provisions of the Act took effect on June 7, 2002 

            	
              Covered
                Loan 

            
	
              Connecticut
                

            	
              Connecticut
                Abusive Home Loan Lending Practices Act, Conn. Gen. Stat. §§ 36a-746
                et seq.
                

              Effective
                October 1, 2001 

            	
              High
                Cost Home Loan 

            
	
              District
                of Columbia 

            	
              Home
                Loan Protection Act, D.C. Code §§ 26-1151.01 et seq.
                

              Effective
                for loans closed on or after January 28, 2003 

            	
              Covered
                Loan 

            
	
              Florida
                

            	
              Fair
                Lending Act, Fla. Stat. Ann. §§ 494.0078 et seq.
                

              Effective
                October 2, 2002 

            	
              High
                Cost Home Loan 

            
	
              Georgia
                (Oct. 1, 2002 - Mar. 6, 2003) 

            	
              Georgia
                Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq.
                

            	
              High
                Cost Home Loan 

            
	 	
              Effective
                October 1, 2002 - March 6, 2003 

            	 
	
              Georgia
                as amended (Mar. 7, 2003 - current) 

            	
              Georgia
                Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq.
                

              Effective
                for loans closed on or after March 7, 2003 

            	
              High
                Cost Home Loan 

            
	
              HOEPA
                Section 32 

            	
              Home
                Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1639, 12 C.F.R.
                §§ 226.32 and 226.34 

              Effective
                October 1, 1995, amendments October 1, 2002 

            	
              High
                Cost Loan 

            
	
              Illinois
                

            	
              High
                Risk Home Loan Act, Ill. Comp. Stat. tit. 815, §§ 137/5 et seq.
                

              Effective
                January 1, 2004 (prior to this date, regulations under Residential
                Mortgage License Act effective from May 14, 2001) 

            	
              High
                Risk Home Loan 

            
	
              Kansas
                

            	
              Consumer
                Credit Code, Kan. Stat. Ann. §§ 16a-1-101 et seq.
                

              Sections
                16a-1-301 and 16a-3-207 became effective April 14, 1999; Section
                16a-3-308a became effective July 1, 1999 

            	
              High
                Loan to Value Consumer Loan (id. § 16a-3-207) and; 

            
	
              High
                APR Consumer Loan (id. § 16a-3-308a) 

            
	
              Kentucky
                

            	
              2003
                KY H.B. 287 - High Cost Home Loan Act, Ky. Rev. Stat. §§ 360.100
                et seq.
                

              Effective
                June 24, 2003 

            	
              High
                Cost Home Loan 

            
	
              Maine
                

            	
              Truth
                in Lending, Me. Rev. Stat. tit. 9-A, §§ 8-101 et seq.
                

              Effective
                September 29, 1995 and as amended from time to time 

            	
              High
                Rate High Fee Mortgage 

            
	
              Massachusetts
                

            	
              Part
                40 and Part 32, 209 C.M.R. §§ 32.00 et seq.
                and 209 C.M.R. §§ 40.01 et seq.
                

            	
              High
                Cost Home Loan 

            

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    STANDARD
      & POOR’S HIGH COST LOAN CATEGORIZATION 

     

    
      	
              State/Jurisdiction

            	
              Name
                of Anti-Predatory Lending Law/Effective Date

            	
              Category
                under Applicable Anti-Predatory Lending Law

            
	 	
              Effective
                March 22, 2001 and amended from time to time 

            	 
	
              Nevada
                

            	
              Assembly
                Bill No. 284, Nev. Rev. Stat. §§ 598D.010 et seq.
                

              Effective
                October 1, 2003 

            	
              Home
                Loan 

            
	
              New
                Jersey 

            	
              New
                Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22
                et seq.
                

              Effective
                for loans closed on or after November 27, 2003 

            	
              High
                Cost Home Loan 

            
	
              New
                Mexico 

            	
              Home
                Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et seq.
                

              Effective
                as of January 1, 2004; Revised as of February 26, 2004 

            	
              High
                Cost Home Loan 

            
	
              New
                York 

            	
              N.Y.
                Banking Law Article 6-l 

              Effective
                for applications made on or after April 1, 2003 

            	
              High
                Cost Home Loan 

            
	
              North
                Carolina 

            	
              Restrictions
                and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E
                et seq.
                

              Effective
                July 1, 2000; amended October 1, 2003 (adding open-end lines of credit)
                

            	
              High
                Cost Home Loan 

            
	
              Ohio
                

            	
              H.B.
                386 (codified in various sections of the Ohio Code), Ohio Rev. Code
                Ann.
                §§ 1349.25 et seq.
                

              Effective
                May 24, 2002 

            	
              Covered
                Loan 

            
	
              Oklahoma
                

            	
              Consumer
                Credit Code (codified in various sections of Title 14A) 

              Effective
                July 1, 2000; amended effective January 1, 2004 

            	
              Subsection
                10 Mortgage 

            
	
              South
                Carolina 

            	
              South
                Carolina High Cost and Consumer Home Loans Act, S.C. Code 

            	
              High
                Cost Home Loan 

            

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    

    STANDARD
      & POOR’S HIGH COST LOAN CATEGORIZATION 

     

    
      	
              State/Jurisdiction

            	
              Name
                of Anti-Predatory Lending Law/Effective Date

            	
              Category
                under Applicable Anti-Predatory Lending Law

            
	 	
              Ann.
                §§ 37-23-10 et seq.
                

              Effective
                for loans taken on or after January 1, 2004 

            	 
	
              West
                Virginia 

            	
              West
                Virginia Residential Mortgage Lender, Broker and Servicer Act, W.
                Va. Code
                Ann. §§ 31-17-1 et seq.
                

              Effective
                June 5, 2002 

            	
              West
                Virginia Mortgage Loan Act Loan 

            

    

    

    STANDARD
      & POOR’S COVERED LOAN CATEGORIZATION 

     

    
      	
              State/Jurisdiction

            	
              Name
                of Anti-Predatory Lending Law/Effective Date

            	
              Category
                under Applicable Anti-Predatory Lending Law

            
	
              Georgia
                (Oct. 1, 2002 - Mar. 6, 2003) 

            	
              Georgia
                Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq.
                

              Effective
                October 1, 2002 - March 6, 2003 

            	
              Covered
                Loan 

            
	
              New
                Jersey 

            	
              New
                Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22
                et seq.
                

              Effective
                November 27, 2003 - July 5, 2004 

            	
              Covered
                Home Loan 

            

    

    

    STANDARD
      & POOR’S HOME LOAN CATEGORIZATION 

     

    
      	
              State/Jurisdiction

            	
              Name
                of Anti-Predatory Lending Law/Effective Date

            	
              Category
                under Applicable Anti-Predatory Lending Law

            
	
              Georgia
                (Oct. 1, 2002 - Mar. 6, 2003) 

            	
              Georgia
                Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq.
                

              Effective
                October 1, 2002 - March 6, 2003 

            	
              Home
                Loan 

            
	
              New
                Jersey 

            	
              New
                Jersey Home Ownership Security 

            	
              Home
                Loan 

            

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    STANDARD
      & POOR’S HOME LOAN CATEGORIZATION 

     

    
      	
              State/Jurisdiction

            	
              Name
                of Anti-Predatory Lending Law/Effective Date

            	
              Category
                under Applicable Anti-Predatory Lending Law

            
	 	
              Act
                of 2002, N.J. Rev. Stat. §§ 46:10B-22 et seq.
                

              Effective
                for loans closed on or after November 27, 2003 

            	 
	
              New
                Mexico 

            	
              Home
                Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et seq.
                

              Effective
                as of January 1, 2004; Revised as of February 26, 2004 

            	
              Home
                Loan 

            
	
              North
                Carolina 

            	
              Restrictions
                and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E
                et seq.
                

              Effective
                July 1, 2000; amended October 1, 2003 (adding open-end lines of credit)
                

            	
              Consumer
                Home Loan 

            
	
              South
                Carolina 

            	
              South
                Carolina High Cost and Consumer Home Loans Act, S.C. Code Ann. §§ 37-23-10
                et seq.
                

              Effective
                for loans taken on or after January 1, 2004 

            	
              Consumer
                Home Loan 

            

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    

    SCHEDULE
      A

     

    REQUIRED
      RATINGS FOR EACH CLASS OF CERTIFICATES

     

    Public
      Certificates

     

    
      	
              Class

            	
              S&P

            	
              Fitch

            
	
              Class
                I-A-1

            	
              AAA

            	
              AAA

            
	
              Class
                I-A-2

            	
              AAA

            	
              AAA

            
	
              Class
                II-A-1

            	
              AAA

            	
              AAA

            
	
              Class
                II-A-2

            	
              AAA

            	
              AAA

            
	
              Class
                II-X

            	
              AAA

            	
              AAA

            
	
              Class
                III-A-1

            	
              AAA

            	
              AAA

            
	
              Class
                III-A-2

            	
              AAA

            	
              AAA

            
	
              Class
                III-A-3

            	
              AAA

            	
              AAA

            
	
              Class
                III-X

            	
              AAA

            	
              AAA

            
	
              Class
                IV-A-1

            	
              AAA

            	
              AAA

            
	
              Class
                IV-A-2

            	
              AAA

            	
              AAA

            
	
              Class
                R-I

            	
              AAA

            	
              AAA

            
	
              Class
                R-II

            	
              AAA

            	
              AAA

            
	
              Class
                R-III

            	
              AAA

            	
              AAA

            
	
              Class
                B-1

            	
              NR

            	
              AA

            
	
              Class
                B-2

            	
              NR

            	
              A

            
	
              Class
                B-3

            	
              NR

            	
              BBB

            

    

    

    None
      of
      the above ratings has been lowered since the respective dates of such
      letters.

     

    Private
      Certificates

    

    
      	
              Class

            	
              S&P

            	
              Fitch

            
	
              Class
                B-4

            	
              NR

            	
              BB

            
	
              Class
                B-5

            	
              NR

            	
              B

            
	
              Class
                B-6

            	
              NR

            	
              NR

            

    

    

    None
      of
      the above ratings has been lowered since the respective dates of such
      letters.

    

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    SCHEDULE
      B

     

    MORTGAGE
      LOAN SCHEDULE

     

    [Provided
      upon request]

     

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      K

     

    

     

    [RESERVED]

     

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      L

     

    

     

    

     

    [RESERVED]

     

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      M

     

    SERVICING
      CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

     

    Definitions

    Primary
      Servicer - transaction party having borrower contact

    Master
      Servicer - aggregator of pool assets

    Securities
      Administrator - waterfall calculator

    Back-up
      Servicer - named in the transaction (in the event a Back up Servicer becomes
      the
      Primary Servicer, follow Primary Servicer obligations)

    Custodian
      - safe keeper of pool assets

    Trustee
      -
      fiduciary of the transaction

     

    Note:
      The
      definitions above describe the essential function that the party performs,
      rather than the party’s title. So, for example, in a particular transaction, the
      trustee may perform the “paying agent” and “securities administrator” functions,
      while in another transaction, the securities administrator may perform these
      functions.

     

    Where
      there are multiple checks for criteria the attesting party will identify in
      their management assertion that they are attesting only to the portion of the
      distribution chain they are responsible for in the related transaction
      agreements.

     

    
      	
              Key:

            	
              X
                - obligation

            
	 	
              [X]
                - under consideration for
                obligation

            

    

    

    

      
        	
                Reg
                  AB Reference

              	
                Servicing
                  Criteria

              	
                Primary
                  Servicer

              	
                Master
                  Servicer

              	
                Securities
                  Admin

              	
                Custodian

              	
                Trustee
                  (nominal)

              
	 	 

                General
                  Servicing Considerations

              	 	 	 	 	 
	
                1122(d)(1)(i)

              	
                Policies
                  and procedures are instituted to monitor any performance or other
                  triggers
                  and events of default in accordance with the transaction
                  agreements.

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(1)(ii)

              	
                If
                  any material servicing activities are outsourced to third parties,
                  policies and procedures are instituted to monitor the third party’s
                  performance and compliance with such servicing activities.

              	
                X

              	
                X

              	 	 	 
	
                1122(d)(1)(iii)

              	
                Any
                  requirements in the transaction agreements to maintain a back-up
                  servicer
                  for the Pool Assets are maintained. 

              	 	 	 	 	 
	
                1122(d)(1)(iv)

              	
                A
                  fidelity bond and errors and omissions policy is in effect on the
                  party
                  participating in the servicing function throughout the reporting
                  period in
                  the amount of coverage required by and otherwise in accordance
                  with the
                  terms of the transaction agreements. 

              	
                X

              	
                X

              	 	 	 
	 	
                Cash
                  Collection and Administration

              	 	 	 	 	 
	
                1122(d)(2)(i)

              	
                Payments
                  on pool assets are deposited into the appropriate custodial bank
                  accounts
                  and related bank clearing accounts no more than two business days
                  following receipt, or such other number of days specified in the
                  transaction agreements. 

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(2)(ii)

              	
                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel. 

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(2)(iii)

              	
                Advances
                  of funds or guarantees regarding collections, cash flows or distributions,
                  and any interest or other fees charged for such advances, are made,
                  reviewed and approved as specified in the transaction agreements.
                  

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of over collateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements. 

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(2)(v)

              	
                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial institution
                  that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.
                  

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(2)(vi)

              	
                Unissued
                  checks are safeguarded so as to prevent unauthorized access.
                  

              	
                X

              	 	
                X

              	 	 
	
                1122(d)(2)(vii)
                  

              	
                Reconciliations
                  are prepared on a monthly basis for all asset-backed securities
                  related
                  bank accounts, including custodial accounts and related bank clearing
                  accounts. These reconciliations are (A) mathematically accurate;
                  (B)
                  prepared within 30 calendar days after the bank statement cutoff
                  date, or
                  such other number of days specified in the transaction agreements;
                  (C)
                  reviewed and approved by someone other than the person who prepared
                  the
                  reconciliation; and (D) contain explanations for reconciling items.
                  These
                  reconciling items are resolved within 90 calendar days of their
                  original
                  identification, or such other number of days specified in the transaction
                  agreements. 

              	
                X

              	
                X

              	
                X

              	 	 
	 	
                Investor
                  Remittances and Reporting

              	 	 	 	 	 
	
                1122(d)(3)(i)

              	
                Reports
                  to investors, including those to be filed with the Commission,
                  are
                  maintained in accordance with the transaction agreements and applicable
                  Commission requirements. Specifically, such reports (A) are prepared
                  in
                  accordance with timeframes and other terms set forth in the transaction
                  agreements; (B) provide information calculated in accordance with
                  the
                  terms specified in the transaction agreements; (C) are filed with
                  the
                  Commission as required by its rules and regulations; and (D) agree
                  with
                  investors’ or the trustee’s records as to the total unpaid principal
                  balance and number of Pool Assets serviced by the Servicer.
                  

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(3)(ii)

              	
                Amounts
                  due to investors are allocated and remitted in accordance with
                  timeframes,
                  distribution priority and other terms set forth in the transaction
                  agreements. 

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(3)(iii)

              	
                Disbursements
                  made to an investor are posted within two business days to the
                  Servicer’s
                  investor records, or such other number of days specified in the
                  transaction agreements. 

              	
                X

              	
                X

              	
                X

              	 	 
	
                1122(d)(3)(iv)

              	
                Amounts
                  remitted to investors per the investor reports agree with cancelled
                  checks, or other form of payment, or custodial bank statements.
                  

              	
                X

              	
                X

              	
                X

              	 	 
	 	
                Pool
                  Asset Administration

              	 	 	 	 	 
	
                1122(d)(4)(i)
                  

              	
                Collateral
                  or security on pool assets is maintained as required by the transaction
                  agreements or related pool asset documents. 

              	
                X

              	 	 	
                X

              	 
	
                1122(d)(4)(ii)

              	
                Pool
                  assets and related documents are safeguarded as required by the
                  transaction agreements 

              	
                X

              	 	 	
                X

              	 
	
                1122(d)(4)(iii)

              	
                Any
                  additions, removals or substitutions to the asset pool are made,
                  reviewed
                  and approved in accordance with any conditions or requirements
                  in the
                  transaction agreements. 

              	
                X

              	 	
                X

              	 	 
	
                1122(d)(4)(iv)

              	
                Payments
                  on pool assets, including any payoffs, made in accordance with
                  the related
                  pool asset documents are posted to the Servicer’s obligor records
                  maintained no more than two business days after receipt, or such
                  other
                  number of days specified in the transaction agreements, and allocated
                  to
                  principal, interest or other items (e.g., escrow) in accordance
                  with the
                  related pool asset documents. 

              	
                X

              	 	
                 

              	 	 
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the pool assets agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal balance.
                  

              	
                X

              	 	
                 

              	 	 
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's pool assets
                  (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents. 

              	
                X

              	
                X

              	 	 	 
	
                1122(d)(4)(vii)

              	
                Loss
                  mitigation or recovery actions (e.g., forbearance plans, modifications
                  and
                  deeds in lieu of foreclosure, foreclosures and repossessions, as
                  applicable) are initiated, conducted and concluded in accordance
                  with the
                  timeframes or other requirements established by the transaction
                  agreements. 

              	
                X

              	
                X

              	 	 	 
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a pool
                  asset is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent pool assets including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or unemployment).
                  

              	
                X

              	 	 	 	 
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for pool assets with variable
                  rates
                  are computed based on the related pool asset documents. 

              	
                X

              	 	 	 	 
	
                1122(d)(4)(x)

              	
                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s pool asset documents,
                  on at least an annual basis, or such other period specified in
                  the
                  transaction agreements; (B) interest on such funds is paid, or
                  credited,
                  to obligors in accordance with applicable pool asset documents
                  and state
                  laws; and (C) such funds are returned to the obligor within 30
                  calendar
                  days of full repayment of the related pool assets, or such other
                  number of
                  days specified in the transaction agreements. 

              	
                X

              	 	 	 	 
	
                1122(d)(4)(xi)

              	
                Payments
                  made on behalf of an obligor (such as tax or insurance payments)
                  are made
                  on or before the related penalty or expiration dates, as indicated
                  on the
                  appropriate bills or notices for such payments, provided that such
                  support
                  has been received by the servicer at least 30 calendar days prior
                  to these
                  dates, or such other number of days specified in the transaction
                  agreements. 

              	
                X

              	 	 	 	 
	
                1122(d)(4)(xii)

              	
                Any
                  late payment penalties in connection with any payment to be made
                  on behalf
                  of an obligor are paid from the Servicer’s funds and not charged to the
                  obligor, unless the late payment was due to the obligor’s error or
                  omission. 

              	
                X

              	 	 	 	 
	
                1122(d)(4)(xiii)

              	
                Disbursements
                  made on behalf of an obligor are posted within two business days
                  to the
                  obligor’s records maintained by the servicer, or such other number of days
                  specified in the transaction agreements. 

              	
                X

              	 	 	 	 
	
                1122(d)(4)(xiv)
                  

              	
                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements. 

              	
                X

              	
                X

              	 	 	 
	
                1122(d)(4)(xv)

              	
                Any
                  external enhancement or other support, identified in Item 1114(a)(1)
                  through (3) or Item 1115 of Regulation AB, is maintained as set
                  forth in
                  the transaction agreements. (In this transaction there is no external
                  enhancement or other support.)

              	
                X

              	 	
                X

              	 	 

      

    

     

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      N

     

    FORM
      10-D, FORM 8-K AND FORM 10-K

    REPORTING
      RESPONSIBILITY

     

    As
      to
      each item described below, the entity indicated as the Responsible Party shall
      be primarily responsible for reporting the information to the party identified
      as responsible for preparing the Securities Exchange Act Reports pursuant to
      Section 4.18 of the Pooling and Servicing Agreement. 

     

    Under
      Item 1 of Form 10-D: a) items marked “Monthly Statement to Certificateholders”
are required to be included in the periodic Distribution Date statement under
      Section 6.06, provided by the Securities Administrator based on information
      received from the party providing such information; and b) items marked “Form
      10-D report” are required to be in the Form 10-D report but not the Monthly
      Statements to Certificateholders, provided by the party indicated. Information
      under all other Items of Form 10-D is to be included in the Form 10-D report.
      All such information and any other Items on Form 8-K and Form 10-D set forth
      in
      this Exhibit shall be sent to the Securities Administrator and the
      Depositor.

     

    
      	
              Form

            	
              Item

            	
              Description

            	
              Servicers

            	
              Master
                Servicer

            	
              Securities
                Administrator

            	
              Custodian

            	
              Trustee

            	
              Depositor

            	
              Sponsor

            
	
              10-D

            	
              Must
                be filed within 15 days of the distribution date for the asset-backed
                securities.

            	 	
              (nominal)

            	 	 
	
              1

            	
              Distribution
                and Pool Performance Information

            	 	 	 	 	 	 	 
	
              Item
                1121(a) - Distribution and Pool Performance
                Information

            	 	 	 	 	 	 	 
	
              (1)
                Any applicable record dates, accrual dates, determination dates for
                calculating distributions and actual distribution dates for the
                distribution period.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (2)
                Cash flows received and the sources thereof for distributions, fees
                and
                expenses.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (3)
                Calculated amounts and distribution of the flow of funds for the
                period
                itemized by type and priority of payment, including:

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (i)
                Fees or expenses accrued and paid, with an identification of the
                general
                purpose of such fees and the party receiving such fees or
                expenses.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (ii)
                Payments accrued or paid with respect to enhancement or other support
                identified in Item 1114 of Regulation AB (such as insurance premiums
                or
                other enhancement maintenance fees), with an identification of the
                general
                purpose of such payments and the party receiving such
                payments.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (iii)
                Principal, interest and other distributions accrued and paid on the
                asset-backed securities by type and by class or series and any principal
                or interest shortfalls or carryovers.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (iv)
                The amount of excess cash flow or excess spread and the disposition
                of
                excess cash flow.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (4)
                Beginning and ending principal balances of the asset-backed
                securities.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (5)
                Interest rates applicable to the pool assets and the asset-backed
                securities, as applicable. Consider providing interest rate information
                for pool assets in appropriate distributional groups or incremental
                ranges.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (6)
                Beginning and ending balances of transaction accounts, such as reserve
                accounts, and material account activity during the period.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (7)
                Any amounts drawn on any credit enhancement or other support identified
                in
                Item 1114 of Regulation AB, as applicable, and the amount of coverage
                remaining under any such enhancement, if known and
                applicable.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (8)
                Number and amount of pool assets at the beginning and ending of each
                period, and updated pool composition information, such as weighted
                average
                coupon, weighted average remaining term, pool factors and prepayment
                amounts.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	
              Updated
                pool composition information fields to be as specified by Depositor
                from
                time to time

            	 
	
              (9)
                Delinquency and loss information for the period.

            	
              X

            	
              X

            	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              In
                addition, describe any material changes to the information specified
                in
                Item 1100(b)(5) of Regulation AB regarding the pool assets.
                (methodology)

            	
              X

            	 	 	 	 	 	 
	
              (10)
                Information on the amount, terms and general purpose of any advances
                made
                or reimbursed during the period, including the general use of funds
                advanced and the general source of funds for
                reimbursements.

            	
              X

            	
              X

            	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (11)
                Any material modifications, extensions or waivers to pool asset terms,
                fees, penalties or payments during the distribution period or that
                have
                cumulatively become material over time.

            	
              X

            	
              X

            	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (12)
                Material breaches of pool asset representations or warranties or
                transaction covenants.

            	
              X

            	
              X

            	
              X

               

              (if
                agreed upon by the parties)

            	 	 	
              X

            	 
	
              (13)
                Information on ratio, coverage or other tests used for determining
                any
                early amortization, liquidation or other performance trigger and
                whether
                the trigger was met.

            	 	 	
              X

               

              (Monthly
                Statements to Certificateholders)

            	 	 	 	 
	
              (14)
                Information regarding any new issuance of asset-backed securities
                backed
                by the same asset pool, 

            	 	 	 	 	 	
              X

            	 
	
              information
                regarding any pool asset changes (other than in connection with a
                pool
                asset converting into cash in accordance with its terms), such as
                additions or removals in connection with a prefunding or revolving
                period
                and pool asset substitutions and repurchases (and purchase rates,
                if
                applicable), and cash flows available for future purchases, such
                as the
                balances of any prefunding or revolving accounts, if
                applicable.

            	
              X

            	
              X

            	
              X

            	 	 	
              X

            	 
	
              Disclose
                any material changes in the solicitation, credit-granting, underwriting,
                origination, acquisition or pool selection criteria or procedures,
                as
                applicable, used to originate, acquire or select the new pool
                assets.

            	 	 	 	 	 	
              X

            	
              X

            
	
              Item
                1121(b) - Pre-Funding or Revolving Period Information

               

              Updated
                pool information as required under Item 1121(b).

            	 	 	 	 	 	
              X

            	 
	
              2

            	
              Legal
                Proceedings

            	 	 	 	 	 	 	 
	
              Item
                1117 - Legal proceedings pending against the following entities,
                or their
                respective property, that is material to Certificateholders, including
                proceedings known to be contemplated by governmental
                authorities:

            	 	 	 	 	 	 	 
	
              Sponsor
                (Seller)

            	 	 	 	 	 	 	
              X

            
	
              Depositor

            	 	 	 	 	 	
              X

            	 
	
              Trustee

            	 	 	 	 	 	 	 
	
              Issuing
                entity

            	 	 	 	 	 	
              X

            	 
	
              Master
                Servicer, affiliated Servicer, other Servicer servicing 20% or more
                of
                pool assets at time of report, other material servicers

            	
              X

            	
              X

            	 	 	 	 	 
	
              Securities
                Administrator

            	 	 	
              X

            	 	 	 	 
	
              Originator
                of 20% or more of pool assets as of the Cut-off Date

            	 	 	 	 	 	
              X

            	 
	
              Custodian

            	 	 	 	
              X

            	 	 	 
	
              3

            	
              Sales
                of Securities and Use of Proceeds

            	 	 	 	 	 	 	 
	
              Information
                from Item 2(a) of Part II of Form 10-Q:

               

              With
                respect to any sale of securities by the sponsor, depositor or issuing
                entity, that are backed by the same asset pool or are otherwise issued
                by
                the issuing entity, whether or not registered, provide the sales
                and use
                of proceeds information in Item 701 of Regulation S-K. Pricing information
                can be omitted if securities were not registered.

            	 	 	 	 	 	
              X

            	 
	
              4

            	
              Defaults
                Upon Senior Securities

            	 	 	 	 	 	 	 
	
              Information
                from Item 3 of Part II of Form 10-Q:

               

              Report
                the occurrence of any Event of Default (after expiration of any grace
                period and provision of any required notice)

            	 	 	
              X

            	 	 	 	 
	
              5

            	
              Submission
                of Matters to a Vote of Security Holders

            	 	 	 	 	 	 	 
	
              Information
                from Item 4 of Part II of Form 10-Q

            	 	 	
              X

            	 	 	 	 
	
              6

            	
              Significant
                Obligors of Pool Assets

            	 	 	 	 	 	 	 
	
              Item
                1112(b) - Significant
                Obligor Financial Information*

            	 	 	 	 	 	
              X

            	 
	
              *This
                information need only be reported on the Form 10-D for the distribution
                period in which updated information is required pursuant to the
                Item.

            	 	 	 	 	 	 	 
	
              7

            	
              Significant
                Enhancement Provider Information

            	 	 	 	 	 	 	 
	
              Item
                1114(b)(2) - Credit Enhancement Provider Financial
                Information*

            	 	 	 	 	 	 	 
	
              Determining
                applicable disclosure threshold

            	 	 	
              X

            	 	 	 	 
	
              Requesting
                required financial information or effecting incorporation by
                reference

            	 	 	
              X

            	 	 	 	 
	
              Item
                1115(b) - Derivative Counterparty Financial
                Information*

            	 	 	 	 	 	 	 
	
              Determining
                current maximum probable exposure

            	 	 	 	 	 	
              X

            	 
	
              Determining
                current significance percentage

            	 	 	
              X

            	 	 	 	 
	
              Requesting
                required financial information or effecting incorporation by
                reference

            	 	 	
              X

            	 	 	 	 
	
              *This
                information need only be reported on the Form 10-D for the distribution
                period in which updated information is required pursuant to the
                Items.

            	 	 	 	 	 	 	 
	
              8

            	
              Other
                Information

            	 	 	 	 	 	 	 
	
              Disclose
                any information required to be reported on Form 8-K during the period
                covered by the Form 10-D but not reported

            	
              The
                Responsible Party for the applicable Form 8-K item as indicated
                below.

            
	
              9

            	
              Exhibits

            	 	 	 	 	 	 	 
	
              Distribution
                report

            	 	 	
              X

            	 	 	 	 
	
              Exhibits
                required by Item 601 of Regulation S-K, such as material
                agreements

            	 	 	 	 	 	
              X

            	 
	
              8-K

            	
              Must
                be filed within four business days of an event reportable on Form
                8-K.

            	 	 	 	 
	
              1.01

            	
              Entry
                into a Material Definitive Agreement

            	 	 	 	 	 	 	 
	
              Disclosure
                is required regarding entry into or amendment of any definitive agreement
                that is material to the securitization, even if depositor is not
                a party.
                

               

              Examples:
                servicing agreement, custodial agreement.

               

              Note:
                disclosure not required as to definitive agreements that are fully
                disclosed in the prospectus

            	
              X

            	
              X

            	
              X 

            	 	 	
              X 

            	
              X

            
	
              1.02

            	
              Termination
                of a Material Definitive Agreement

            	
              X

            	
              X

            	
              X 

            	 	 	
              X

            	
              X 

            
	
              Disclosure
                is required regarding termination of any definitive agreement that
                is
                material to the securitization (other than expiration in accordance
                with
                its terms), even if depositor is not a party. 

               

               

              Examples:
                servicing agreement, custodial agreement.

            	 	 	 	 	 	 	 
	
              1.03

            	
              Bankruptcy
                or Receivership

            	 	 	 	 	 	 	 
	
              Disclosure
                is required regarding the bankruptcy or receivership, if known to
                the
                Master Servicer, with respect to any of the following: 

               

              Sponsor
                (Seller), Depositor, Master Servicer, affiliated Servicer, other
                Servicer
                servicing 20% or more of pool assets at time of report, other material
                servicers, Certificate Administrator, Trustee, significant obligor,
                credit
                enhancer (10% or more), derivatives counterparty,
                Custodian

            	
              X

            	
              X

            	
              X 

            	
              X

            	 	
              X 

            	
              X

            
	
              2.04

            	
              Triggering
                Events that Accelerate or Increase a Direct Financial Obligation
                or an
                Obligation under an Off-Balance Sheet Arrangement

            	 	 	 	 	 	 	 
	
              Includes
                an early amortization, performance trigger or other event, including
                event
                of default, that would materially alter the payment priority/distribution
                of cash flows/amortization schedule.

               

              Disclosure
                will be made of events other than waterfall triggers which are disclosed
                in the Monthly Statement to Certificateholders

            	 	
              X

            	
              X

            	 	 	 	 
	
              3.03

            	
              Material
                Modification to Rights of Security Holders

            	 	 	 	 	 	 	 
	
              Disclosure
                is required of any material modification to documents defining the
                rights
                of Certificateholders, including the Pooling and Servicing
                Agreement

            	 	 	
              X

            	 	 	
              X

            	 
	
              5.03

            	
              Amendments
                to Articles of Incorporation or Bylaws; Change in Fiscal
                Year

            	 	 	 	 	 	 	 
	
              Disclosure
                is required of any amendment “to the governing documents of the issuing
                entity”

            	 	 	 	 	 	
              X

            	 
	
              5.06

            	
              Change
                in Shell Company Status

            	 	 	 	 	 	 	 
	
              [Not
                applicable to ABS issuers]

            	 	 	 	 	 	
              X

            	 
	
              6.01

            	
              ABS
                Informational and Computational Material

            	 	 	 	 	 	 	 
	
              [Not
                included in reports to be filed under Section 3.18]

            	 	 	 	 	 	
              X

            	 
	
              6.02

            	
              Change
                of Servicer or Trustee

            	 	 	 	 	 	 	 
	
              Requires
                disclosure of any removal, replacement, substitution or addition
                of any
                master servicer, affiliated servicer, other servicer servicing 10%
                or more
                of pool assets at time of report, other material servicers, certificate
                administrator or trustee. 

            	
              X

            	
              X

            	
              X

            	 	 	
              X

            	 
	 	
              Reg
                AB disclosure about any new servicer is also required.

            	
              X

            	 	 	 	 	 	 
	
              Reg
                AB disclosure about any new trustee is also required.

            	 	 	 	 	
              X
                

              (to
                the extent of a new trustee)

            	 	 
	
              Reg
                AB disclosure about any new securities administrator is also
                required.

            	 	 	
              X

            	 	 	 	 
	
              6.03

            	
              Change
                in Credit Enhancement or Other External Support [In this transaction
                there
                is no external enhancement or other support.]

            	 	 	 	 	 	 	 
	
              Covers
                termination of any enhancement in manner other than by its terms,
                the
                addition of an enhancement, or a material change in the enhancement
                provided. Applies to external credit enhancements as well as derivatives.
                

            	 	 	
              X

            	 	 	
              X

            	 
	 	
              Reg
                AB disclosure about any new enhancement provider is also
                required.

            	 	 	
              X

            	 	 	
              X

            	 
	
              6.04

            	
              Failure
                to Make a Required Distribution

            	 	 	
              X

            	 	 	 	 
	
              6.05

            	
              Securities
                Act Updating Disclosure

            	 	 	 	 	 	 	 
	
              If
                any material pool characteristic differs by 5% or more at the time
                of
                issuance of the securities from the description in the final prospectus,
                provide updated Reg AB disclosure about the actual asset
                pool.

            	 	 	 	 	 	
              X

            	
               

            
	
              If
                there are any new servicers or originators required to be disclosed
                under
                Regulation AB as a result of the foregoing, provide the information
                called
                for in Items 1108 and 1110 respectively.

            	 	 	 	 	 	
              X

            	 
	
              7.01

            	
              Regulation
                FD Disclosure

            	
              X

            	
              X

            	
              X

            	
              X

            	 	
              X

            	 
	
              8.01

            	
              Other
                Events

            	 	 	 	 	 	 	 
	
              Any
                event, with respect to which information is not otherwise called
                for in
                Form 8-K, that the registrant deems of importance to security
                holders.

            	 	 	 	 	 	
              X

            	 
	
              9.01

            	
              Financial
                Statements and Exhibits

            	
              The
                Responsible Party applicable to reportable event.

            
	
              10-K

            	
              Must
                be filed within 90 days of the fiscal year end for the
                registrant.

            	 	 	 	 
	
              9B

            	
              Other
                Information

            	 	 	 	 	 	 	 
	 	 	
              Disclose
                any information required to be reported on Form 8-K during the fourth
                quarter covered by the Form 10-K but not reported

            	
              The
                Responsible Party for the applicable Form 8-K item as indicated
                above.

            
	 	
              15

            	
              Exhibits
                and Financial Statement Schedules

            	 	 	 	 	 	 	 
	
              Item
                1112(b) - Significant
                Obligor Financial Information

            	 	 	 	 	 	
              X

            	 
	
              Item
                1114(b)(2) - Credit Enhancement Provider Financial
                Information

            	 	 	 	 	 	 	 
	
              Determining
                applicable disclosure threshold

            	 	 	
              X

            	 	 	 	 
	
              Requesting
                required financial information or effecting incorporation by
                reference

            	 	 	
              X

            	 	 	 	 
	
              Item
                1115(b) - Derivative Counterparty Financial
                Information

            	 	 	 	 	 	 	 
	
              Determining
                current maximum probable exposure

            	 	 	 	 	 	
              X

            	 
	 	 	
              Determining
                current significance percentage

            	 	 	
              X

            	 	 	 	 
	
              Requesting
                required financial information or effecting incorporation by
                reference

            	 	 	
              X

            	 	 	 	 
	
              Item
                1117 - Legal proceedings pending against the following entities,
                or their
                respective property, that is material to Certificateholders, including
                proceedings known to be contemplated by governmental
                authorities:

            	 	 	 	 	 	 	 
	
              Sponsor
                (Seller)

            	 	 	 	 	 	 	
              X

            
	
              Depositor

            	 	 	 	 	 	
              X

            	 
	
              Trustee

            	 	 	 	 	 	 	 
	
              Issuing
                entity

            	 	 	 	 	 	
              X

            	 
	
              Master
                Servicer, affiliated Servicer, other Servicer servicing 20% or more
                of
                pool assets at time of report, other material servicers

            	
              X

            	
              X

            	 	 	 	 	 
	
              Securities
                Administrator

            	
               

            	 	
              X

            	 	 	 	 
	
              Originator
                of 20% or more of pool assets as of the Cut-off Date

            	 	 	 	 	 	
              X

            	 
	
              Custodian

            	 	 	 	
              X

            	 	 	 
	
              Item
                1119 - Affiliations and relationships between the following entities,
                or
                their respective affiliates, that are material to
                Certificateholders:

            	 	 	 	 	 	 	 
	
              Sponsor
                (Seller)

            	 	 	 	 	 	 	
              X

            
	
              Depositor

            	 	 	 	 	 	
              X

            	 
	
              Trustee

            	
               

            	 	 	 	 	 	 
	
              Master
                Servicer, affiliated Servicer, other Servicer servicing 20% or more
                of
                pool assets at time of report, other material servicers

            	
              X

            	
              X

            	 	 	 	 	 
	
              Securities
                Administrator

            	 	 	
              X

            	 	 	 	 
	
              Originator

            	 	 	 	 	 	
              X

            	 
	
              Custodian

            	 	 	 	
              X

            	 	 	 
	
              Credit
                Enhancer/Support Provider

            	 	 	 	 	 	
              X

            	 
	
              Significant
                Obligor

            	 	 	 	 	 	
              X

            	 
	
              Item
                1122 - Assessment of Compliance with Servicing
                Criteria

            	
              X

            	
              X

            	
              X

            	
              X

            	 	 	 
	
              Item
                1123 - Servicer Compliance Statement

            	
              X

            	
              X

            	 	 	 	 	 

    

    

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            

          

        

      

    

    

    EXHIBIT
      O

     

    Additional
      Disclosure Notification

     

    Wells
      Fargo Bank, N.A. as [Securities Administrator] 

    Old
      Annapolis Road

    Columbia,
      Maryland 21045

    Fax:
      (410) 715-2380

    E-mail:
      cts.sec.notifications@wellsfargo.com

     

    Attn:
      Corporate Trust Services - BSARM 2006-2-SEC REPORT PROCESSING

     

    RE:
      **Additional Form [ ] Disclosure**Required

     

    Ladies
      and Gentlemen:

     

    In
      accordance with Section 4.18 of the Pooling and Servicing Agreement, dated
      as of
      May 1, 2006, among Structured Asset Mortgage Investments II Inc., a Delaware
      corporation, as depositor (the “Depositor”), U.S. Bank National Association, a
      national banking association, as trustee (the “Trustee”), Wells Fargo Bank,
      N.A., as master servicer (in such capacity, the “Master Servicer”) and as
      securities administrator (in such capacity, the “Securities Administrator”), and
      EMC Mortgage Corporation, as seller (in such capacity, the “Seller”). The
      undersigned hereby notifies you that certain events have come to our attention
      that [will][may] need to be disclosed on Form [ ].

     

    Description
      of Additional Form [ ] Disclosure:

     

    

     

    

     

    List
      of
      Any Attachments hereto to be included in the Additional Form [     ]
      Disclosure:

     

    

     

    Any
      inquiries related to this notification should be directed to [     ], phone
      number: [     ]; email address:
      [     ].

     

    
      	
              [NAME
                OF PARTY]

              as
                [role]

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:Exhibit 4.1

Exhibit 4.1

CERTIFICATE OF AMENDMENT 

OF

CERTIFICATE OF INCORPORATION

OF

MOOG INC.

______________________________

Under Section 805 of the 

Business Corporation Law

The undersigned, John B. Drenning, being the Secretary of MOOG INC., does hereby certify:

1.

The name of the corporation is MOOG INC., a New York corporation (the “Corporation”).  The Corporation was originally formed under the name Moog Valve Co. Inc.

2.

The Certificate of Incorporation of the Corporation was filed by the Department of State of the State of New York on August 1, 1951.

3.

The first paragraph of Section (a) of Paragraph THIRD of the Certificate of Incorporation of the Corporation is hereby amended to increase the authorized number of Class A Common Shares of the Corporation from 30,000,000 Class A Common Shares of a par value of $1.00 per share to 50,000,000 Class A Common Shares of a par value of $1.00 per share.

To effect such amendment, the first paragraph of Section (a) of Paragraph THIRD of the Certificate of Incorporation is hereby amended to read in its entirety as follows:

“THIRD:  (a) The aggregate number of shares which the Corporation shall have authority to issue is 70,000,000 shares, of which 50,000,000 shares, of the par value of $1.00 per share shall be designated as Class A Common Shares and 10,000,000 shares of par value of $1.00 per share shall be designated as Class B Common Shares, and 10,000,000 shares of par value of $1.00 per share shall be designated as Preferred Shares, which Preferred Shares shall be issuable in one or more series.”

4.

The foregoing amendment of the Certificate of Incorporation of the Corporation was authorized by the vote of the board of directors of the Corporation on 

November 30, 2004, followed by approval from a majority of the outstanding shares entitled to vote thereon at a meeting of the shareholders of the Corporation held on January 12, 2005. 

IN WITNESS WHEREOF, the undersigned has subscribed this Certificate and affirmed it as true under penalties of perjury this 18th day of January, 2005.

MOOG INC.

			
	 

	MOOG INC.

	 

	 

	 

	By: 

	/s/ John B. Drenning

	 

	 

	John B. Drenning, Secretary

CERTIFICATE OF AMENDMENT

OF

CERTIFICATE OF INCORPORATION

OF

MOOG INC.

______________________________

Under Section 805 of the 

Business Corporation Law

                The undersigned, John B. Drenning, being the Secretary of MOOG INC., does hereby certify:

                1.     The name of the corporation is MOOG INC., a New York corporation (the "Corporation"). The Corporation was originally formed under the name Moog Valve Co. Inc.

                2.     The Certificate of Incorporation of the Corporation was filed by the Department of State of the State of New York on August 1, 1951.

                3.     The first sentence of Paragraph SIXTH of the Certificate of Incorporation of the Corporation is hereby amended to increase the maximum permitted number of directors of the Corporation from nine to fifteen.

                To effect such amendment, the first sentence of Paragraph SIXTH of the Certificate of Incorporation is hereby amended to read in its entirety as follows:

"SIXTH: The number of directors shall be not less than three nor more than fifteen."

                4.     The foregoing amendment of the Certificate of Incorporation of the Corporation was authorized by the vote of the board of directors of the Corporation on December 2, 2003, followed by approval from a majority of the outstanding shares entitled to vote thereon at a meeting of the shareholders of the Corporation held on January 14, 2004. 

                IN WITNESS WHEREOF, the undersigned has subscribed this Certificate and affirmed it as true under penalties of perjury this 20th day of January, 2004.

			
	 

	MOOG INC.

	 

	 

	 

	By: 

	/s/ John B. Drenning

	 

	 

	John B. Drenning, Secretary

 

RESTATED CERTIFICATE OF INCORPORATION

OF

MOOG INC.

 

                FIRST:         The name of the Corporation is MOOG INC.

                SECOND:     The purposes for which it is to be formed are:

                        (a)         To engage in the manufacture, building, constructing and servicing of automatic control equipment, valves, machinery, instruments, electronic equipment, radar equipment, accessories and other products similar to or of the same general nature, including all other parts incidental or necessary thereto, together with any and all other metals, woods, chemicals, ores, plastics and other similar or kindred products that may be incidental or a part thereof.

                        (b)         To buy, sell and deal in generally products of metal, wood, chemicals, ores, plastics and derivative thereof and to handle generally automatic control equipment, valves, machinery, instruments, radar equipment, electronic equipment and other accessories.

                        (c)         To handle the sale, distribution, promotion and advertising of manufactured products generally and to act as brokers, agents and factors for other persons, firms or corporations in such selling, advertising and handling of the same and to do any and all acts necessary or incidental thereto or associated therewith.

                        (d)         To apply for, obtain or otherwise acquire trademarks, trade names, copyrights, letters patent, licenses therefor or thereunder on any and all inventions and processes.

                        (e)         To acquire and pay for in cash, stocks and bonds of this Corporation or otherwise, the good will, rights, assets and property, and to undertake or assume the whole or any 

part of the obligations or liabilities, of any person, firm associations, partnership or corporation engaged in the same or any similar business.

                        (f)         To purchase, hold, sell, assign, transfer, mortgage, pledge or otherwise dispose of, shares of the capital stock or any bonds, securities or evidences of indebtedness created by any other corporation or corporations organized under the laws of this state or any other state, country, nation or government, and while the owner thereof, to exercise all the rights, powers and privileges of ownership.

                        (g)         To issue bonds, debentures or obligations of this Corporation from time to time, for any use of the objects or purposes of this Corporation, and to secure the same by mortgage, pledge, deed of trust, or otherwise.

                        (h)         To purchase, hold, sell and transfer the shares of its own capital stock; provided it shall not use its own shares of capital stock when such use would cause any impairment of its capital; and provided further that shares of its own capital stock belonging to it shall not be voted upon directly or indirectly.

                        (i)         To buy, sell, rent, relet and exchange real property, improved or unimproved, to build, construct, improve and alter buildings or structures thereon, and to mortgage and develop real property generally, to purchase, manufacture, acquire, hold, own, mortgage, pledge, lease, sell, assign and transfer, to invest, trade, deal in and with goods, wares and merchandise and property of every kind and description and to carry on any of the above businesses or any other business connected therewith, whenever the same may be permitted by law.

                        (j)         In general to carry on any other similar or kindred business in connection with the foregoing and to have and exercise all the powers conferred by the laws of New York 

upon corporations formed under the act hereinbefore referred to, and to do any and all things hereinbefore set forth to the same extent as natural persons might or could do.

                The foregoing and following clauses shall be construed as objects and powers in furtherance and not in limitation of the general powers conferred by the laws of the State of New York; and it is hereby expressly provided that the foregoing and following enumeration of specific powers shall not be held to limit or restrict in any manner the powers of the corporation, and that this corporation may do all and everything necessary, suitable or proper for the accomplishment of any of the purposes or objects hereinbefore enumerated either alone or in association with other corporations, firms or individuals, to the same extent and as individuals might or could do as principals, agents, contractors, or otherwise.

                THIRD:         (a)    The aggregate number of shares which the Corporation shall have the authority to issue is 50,000,000 shares, of which 30,000,000 shares, of the par value of $1.00 per share shall be designated as Class A Common Shares and 10,000,000 shares of par value of $1.00 per share shall be designated as Class B Common Shares, and 10,000,000 shares of par value of $1.00 per share shall be designated as Preferred Shares, which Preferred Shares shall be issuable in one or more series.

                Two Hundred Thousand authorized Preferred Shares of the par value of $1.00 each, shall be issued in and as a series to be designated "9% Cumulative, Convertible, Exchangeable, Preferred Shares, Series A, $1.00 par value". Said series is hereinafter called "Series A Preferred Stock". Two Hundred Thousand authorized Preferred Shares of the par value of $1.00 each, shall be issued in and as a series to be designated "9% Cumulative, Convertible, Exchangeable, Preferred Shares, Series B, $1.00 par value". Said series is hereinafter called "Series B Preferred Stock".

                The term "Preferred Shares" as used herein shall include all 10,000,000 of the Preferred Shares, $1.00 par value, authorized by the Certificate of Incorporation of the Corporation, of which "Series A Preferred Stock" is the first series and "Series B Preferred Stock" is the second series.

                            (b)     No holder of shares of the Corporation of any class now or hereafter authorized shall have any preferential or preemptive right to subscribe for, purchase or receive any shares of the Corporation of any class now or hereafter authorized, or any options or warrants for such shares, or any securities convertible into or exchangeable for such shares, which at any time may be issued, sold or offered for sale by the Corporation, except as specifically provided in this Article Third.

                            (c)     The Class A Common Shares and the Class B Common Shares shall be identical in all respects and shall have equal voting rights and privileges, except as otherwise provided in this Article Third.

                            (d)     The relative rights, preferences and limitations of the Class A Common Shares and of the Class B Common Shares are as follows:

                (1)     Dividends. Subject to subparagraph (2), whenever a dividend is paid to the holders of Class B Common Shares, the Corporation shall also pay to the holders of Class A Common Shares a dividend per share at least equal to the dividend per share paid to the holders of the Class B Common Shares. The Corporation may pay dividends to holders of Class A Common Shares in excess of dividends paid, or without paying dividends, to holders of Class B Common Shares.

                (2)     Share Distributions. If at any time a distribution is to be paid in Class B Common Shares of Class A Common Shares (a "share distribution"), such share distribution may be declared and paid only as follows:

                        (A)     So long as no Class A Common Shares have been issued or are outstanding, Class A Common Shares may be paid to holders of Class B Common Shares; or 

                        (B)     Class A Common Shares may be paid to holders of Class A Common Shares and Class B Common Shares may be paid to holders of Class B Common Shares.

                        (C)     Whenever a share distribution is paid, the same number of shares shall be paid in respect of each outstanding Class A or Class B Common Share. The Corporation shall not combine or subdivide shares of either of such classes without at the same time making a proportionate combination or subdivision of shares of the other of such classes.

                (3)     Voting. The holders of Class B Common Shares shall have exclusive voting power prior to the issuance of Class A Common Shares and thereafter voting power shall be divided between such classes as follows:

                        (A)     With respect to the election of directors, holders of Class A Common Shares voting as a separate class shall be entitled to elect that number of directors which constitutes 25% of the authorized number of members of the Board of Directors and, if such 25% is not a whole number, then the holders of Class A Common Shares shall be entitled to elect the nearest higher whole number of directors that is at least 25% of such membership. Holders of Class B 

Common Shares voting as a separate class shall be entitled to elect the remaining directors.

                        (B)     The holders of Class A Common Shares shall be entitled to vote as a separate class on the removal, with or without cause, of any director elected by the holders of Class A Common Shares and the holders of Class B Common Shares shall be entitled to vote as a separate class on the removal, with or without cause, of any director elected by the holders of Class B Common Shares.

                        (C)     The holders of the Class A Common Shares and the holders of Class B Common Shares shall be entitled to vote as separate classes on such other matters as may be required by law or this Certificate of Incorporation to be submitted to such holders voting as separate classes.

                        (D)     Any vacancy in the office of a director elected by the holders of the Class A Common Shares may be filled by a vote of such holders voting as a separate class and any vacancy in the office of a director elected by the holders of the Class B Common Shares may be filled by a vote of such holders voting as a separate class or, in the absence of a shareholder vote, in the case of a vacancy in the office of a director elected by either class, such vacancy may be filled by the remaining directors as provided in the By-laws. Any director elected by the Board of Directors to fill a vacancy shall serve until the next Annual Meeting of Shareholders and until his or her successor has been elected and has qualified. If permitted by the By-laws, the Board of Directors may increase the number of directors and any vacancy so created may be filled by the Board of 

Directors, provided that, so long as the holders of Class A Common Shares have the rights provided in paragraphs (d)(3)(A) and (d)(3)(D) of this Article Third in respect of the last preceding Annual Meeting of Shareholders, the Board of Directors may be so enlarged by the Board of Directors only to the extent that at least 25% of the enlarged Board consists of Directors elected by the holders of the Class A Common Shares or by persons appointed to fill vacancies created by the death, resignation or removal of persons elected by the holders of the Class A Common Shares.

                        (E)     The holders of Class A and Class B Common Shares shall in all matters not specified in Sections (A), (B), (C) and (D) of this subparagraph (3) vote together as a single class; provided that the holders of Class A Common Shares shall have one-tenth vote per share and the holders of Class B Common Shares shall have one vote per share.

                        (F)     The Class A Common Shares will not have the rights to elect directors set forth in paragraphs (d)(3)(A) and (d)(3)(D) of this Article Third, if, on the record date for any shareholder meeting at which directors are to be elected, the number of issued and outstanding Class A Common Shares is less than 10% of the aggregate number of issued and outstanding Class A Common Shares and Class B Common Shares. In such case, all directors to be elected at such meeting shall be elected by holders of Class A Common Shares and Class B Common Shares voting together as a single class, provided that, with respect to said election, the holders of Class A Common Shares shall have one-tenth vote per share and holders of Class B Common Shares shall have one vote per share.

                        (G)     Notwithstanding anything in this subparagraph (3) to the contrary, the holders of Class A Common Shares shall have exclusive voting power on all matters, at any time when no Class B Common Shares are issued and outstanding.

                (4)     Conversion. Each holder of record of Class B Common Shares may at any time or from time to time, in such holder's sole discretion and at such holder's option, convert any whole number or all of such holder's Class B Common Shares into fully paid and non-assessable Class A Common Shares at the rate (subject to adjustments as hereinafter provided) of one Class A Common Share for each Class B Common Share surrendered for conversion. Any such conversion may be effected by any holder of Class B Common Shares surrendering such holder's certificate or certificates for the Class B Common Shares to be converted, duly endorsed, at the office of the Corporation or any transfer agent for the Class B Common Shares, together with a written notice to the Corporation at such office that such holder elects to convert all or a specified number of Class B Common Shares and stating the name or names in which such holder desires the certificate or certificates for such Class A Common Shares to be issued. Promptly thereafter, the Corporation shall issue and deliver to such holder or such holder's nominee or nominees, a certificate or certificates for the number of Class A Common Shares to which such holder shall be entitled as aforesaid. Such conversion shall be deemed to have been made at the close of business at the date of such surrender and the person or persons entitled to receive the Class A Common Shares issuable on such conversion shall be treated for all 

purposes as the record holder or holders or such Class A Common Shares on that date.

                            No fraction of a Class A Common Share shall be issued on conversion of any Class B Common Share but, in lieu thereof, the corporation shall pay in cash therefor the pro rata fair market value of any such fraction. Such fair market value shall be based, in the case of publicly traded securities, on the last sale price for such securities on the business day next prior to the date such fair market value is to be determined (or, in the event no sale is made on that day, the average of the closing bid and asked prices for that day on the principal stock exchange on which Class A Common Shares are traded or, if the Class A Common Shares are not then listed on any national securities exchange, the average of the closing bid and asked prices for the day quoted by the NASDAQ System) or, in the case of other property, the fair market value on such day determined by a qualified independent appraiser expert in evaluating such property and appointed by the Board of Directors of the Corporation. Any such determination of fair market value shall be final and binding on the corporation and on each holder of Class B Common Shares or Class A Common Shares.

                            (e)     The Preferred Shares may be issued in series, and each series shall be so designated as to distinguish the shares thereof from the shares of all other series. All Preferred Shares shall be identical except as to the relative rights, preferences and limitations which are to be fixed as follows:

                (1)     Issuance in Series. Subject to any limitation prescribed by law, the number of shares in each series of preferred shares and the designation and relative rights, preferences and limitations of each series shall be fixed by the Board of Directors of the corporation, provided that before any shares of a series 

of Preferred Shares are issued, a Certificate of Amendment of this Certificate of Incorporation shall be filed as required by Section 805 of the Business Corporation Law. The Board of Directors is specifically empowered to determine with respect to each series of Preferred Shares:

                            (A)     The dividend rights of such shares, including whether the dividends to which such shares are entitled shall be cumulative or noncumulative and whether dividends on such shares shall have any preference over dividends payable on any other class or classes of stock;

                            (B)     Whether such shares shall be convertible into shares of any class of common stock or, to the extent permitted by law, into shares of another series of preferred shares and, if so, upon what terms and conditions;

                            (C)     Whether such shares shall have voting rights in addition to those provided by law and, if so, to what extent and upon what terms and conditions;

                            (D)     Whether such shares shall be subject to redemption by the corporation and, if so, upon what terms and conditions;

                            (E)     Whether, if such shares are to be redeemable, a sinking fund or other fund shall be established for the purchase or redemption thereof and, if so, upon what terms and conditions; and

                            (F)     The rights of such shares in the event of the voluntary or involuntary liquidation, dissolution, or winding up of the corporation, including whether such shares shall have any preferential claim against the assets of the corporation and if so, to what extent.

                (2)     Voting. Except as otherwise provided by law or by the action of the Board of Directors in granting voting rights to any series of Preferred Shares, the entire voting power for the election of Directors and for all other purposes shall be vested exclusively in the shares of common stock. Each share of common stock shall have the voting rights provided in paragraph (d)(3).

                        (f)     The designations, relative rights, preferences, and limitations of all shares of the Series A Preferred Stock, insofar as not already fixed by the Certificate of Incorporation, shall, as fixed by the Corporation's Board of Directors in the exercise of authority conferred by the Certificate of Incorporation, and as permitted by Section 502 of the Business Corporation Law, be as follows:

                (1)     Dividends. The holders of shares of the Series A Preferred Stock shall be entitled to receive quarterly cumulative dividends payable in cash in an amount per share equal to 9% per annum of the par value of such Shares. The dates on which dividends shall be payable, if declared, shall be January 1, April 1, July 1, and October 1 of each year, and dividends on the Series A Preferred Stock shall be cumulative from the date of issue of such shares.

                (2)     Voting Rights. Holders of the Series A Preferred Stock shall be entitled to vote together with the common stock, without distinction as to class, on any proposal for the termination of the Corporation's existence as an ongoing concern by reason of dissolution, liquidation, sale or mortgage of a substantial part of its assets, or a merger, consolidation or similar business combination where holders of Class A and Class B Common Stock are entitled to vote, and shall have one-tenth vote per share, subject to adjustment to reflect the 

subdivision or combination of or any stock dividend on the outstanding shares of Class A Common Stock. Holders of Series A Preferred Stock shall have the right to vote as a class in those situations where such voting rights arise under the relevant provisions of the Business Corporation Law.

                            In the event that the Company fails to earn the dividend payable on the Series A Preferred Stock for eight consecutive quarters, the Holders of the Series A Preferred Stock, voting as a class, shall have the right to elect two directors who would otherwise be elected by the Holders of the Class B Common Stock.

                (3)     Redemption. The Series A Preferred Stock shall not be redeemable.

                (4)     Conversion. Holders of shares of Series A Preferred Stock shall have the right at their option, to convert such shares of Preferred stock into shares of Class A Common Stock by delivering to the principal office of Moog Inc., Attention: Secretary, an irrevocable notice of conversion together with a certificate evidencing the shares of Series A Preferred Stock to which the notice of conversion relates.

                    (A)     Shares of the Series A Preferred Stock shall be convertible into shares of Class A Common Stock, on the basis of the following calculation:

        (i)     The "Conversion Ratio" is defined as: the ratio of $1.00 to the closing market price of one share of Class A Common Stock on the date of issue of shares of Series A Preferred Stock times a factor of 0.88.

        (ii)     The Conversion Ratio multiplied by the number of shares of Series A Preferred Stock surrendered for conversion equals that number of full shares of Class A Common Stock which will be issued. No fractional shares will be issued and no cash payments in lieu of fractional shares will be made.

        (iii)     The Conversion Ratio shall be subject to equitable adjustment to reflect the subdivision or combination of, or any stock or property dividend on, or dividend in kind on, the outstanding shares of Class A Common Stock.

        (5)     Exchangeability. All shares of Series A Preferred Stock which are outstanding on January 1, 2004, shall be deemed to have been exchanged automatically and without further action on the part of the holder of such stock on that day into that number of full shares of Class A Common Stock, which would have been issued upon conversion had such Series A Preferred Stock been converted on that day pursuant to notice of conversion in the manner provided in subparagraph (4) above.

        (6)     Consolidation, Merger. In the event of a consolidation, merger or other transaction in which the shares of Class B Common Stock are exchanged for or converted into other securities, cash or any other property, the shares of the Series A Preferred Stock will be similarly exchanged or converted but they shall for such purpose be valued at the value provided in the last sentence of subparagraph (7).

        (7)     Liquidation Rights. Upon any liquidation, dissolution, or winding up of the corporation, whether voluntary or involuntary, the holders of any Series A 

Preferred Stock will be entitled to receive, before any distribution is made to the holders of shares of stock ranking junior to the Series A Preferred Shares or any distribution (other than a ratable distribution), is made to the holders of stock ranking on a parity with the Series A Preferred Shares, the greater of (A) the par value of the shares of Series A Preferred Stock, or (B) an amount equal to the value established as provided in the following paragraph, plus accrued dividends.

                On the date as of which it becomes necessary to fix a value for Series A Preferred Stock pursuant to this subparagraph (7) or the preceding subparagraph (6), the value of one share of Series A Preferred Stock shall be deemed to be equal to the "Current Average Price" of one share of Class A Common Stock (the average of the closing market price of the Class A Common Stock on the last day of each of the four calendar quarters immediately preceding such valuation date), multiplied by the "Conversion Ratio".

        (8)     Certain Restrictions. Whenever dividends or distributions on shares of the Series A Preferred Stock are in arrears, the Company shall not have the right to declare or pay dividends or other distributions on, redeem or purchase any shares of stock ranking junior to or at a parity with the Series A Preferred Stock unless simultaneously therewith, such arrearages are paid in full.

                    (g)     The designations, relative rights, preferences, and limitations of all shares of the Series B Preferred Stock, insofar as not already fixed by the Certificate of Incorporation, shall, as fixed by the Corporation's Board of Directors in the exercise of authority conferred by the Certificate of Incorporation, and as permitted by Section 502 of the Business Corporation Law, be as follows:

        (1)     Dividends. The holders of shares of the Series B Preferred Stock shall be entitled to receive quarterly cumulative dividends payable in cash in an amount per share equal to 9% per annum of the par value of such Shares. The dates on which dividends shall be payable, if declared, shall be January 1, April 1, July 1, and October 1 of each year, and dividends on the Series B Preferred Stock shall be cumulative from the date of issue of such shares.

        (2)     Voting Rights. Holders of the Series B Preferred Stock shall be entitled to vote together with the common stock, without distinction as to class, on any proposal for the termination of the Corporation's existence as an ongoing concern by reason of dissolution, liquidation, sale or mortgage of a substantial part of its assets, or a merger, consolidation or similar business combination where holders of Class A and Class B Common Stock are entitled to vote, and shall have one vote per share, subject to adjustment to reflect the subdivision or combination of or any stock dividend on the outstanding shares of Class A Common Stock. Holders of Series B Preferred Stock shall have the right to vote as a class in those situations where such voting rights arise under the relevant provisions of the Business Corporation Law.

                In the event that the Company fails to earn the dividend payable on the Series B Preferred Stock for eight consecutive quarters, the Holders of the Series B Preferred Stock, voting as a class, shall have the right to elect two directors who would otherwise be elected by the Holders of the Class B Common Stock.

(3) Redemption. The Series B Preferred Stock shall not be redeemable.

        (4)     Conversion. Holders of shares of Series B Preferred Stock shall have the right at their option, to convert such shares of Preferred stock into shares of Class A Common Stock by delivering to the principal office of Moog Inc., Attention: Secretary, an irrevocable notice of conversion together with a certificate evidencing the shares of Series B Preferred Stock to which the notice of conversion relates.

                (A)     Shares of the Series B Preferred Stock shall be convertible into shares of Class A Common Stock, on the basis of the following calculation:

        (i)     The "Conversion Ratio" is defined as: the ratio of $1.00 to the closing market price of one share of Class A Common Stock on the date of issue of shares of Series B Preferred Stock times a factor of 0.88.

        (ii)     The Conversion Ratio multiplied by the number of shares of Series B Preferred Stock surrendered for conversion equals that number of full shares of Class A Common Stock which will be issued. No fractional shares will be issued and no cash payments in lieu of fractional shares will be made.

        (iii)     The Conversion Ratio shall be subject to equitable adjustment to reflect the subdivision or combination of, or any stock or property dividend on, or dividend in kind on, the outstanding shares of Class A Common Stock.

        (5)     Exchangeability. All shares of Series B Preferred Stock which are outstanding on January 1, 2004, shall be deemed to have been exchanged 

automatically and without further action on the part of the holder of such stock on that day into that number of full shares of Class A Common Stock, which would have been issued upon conversion had such Series B Preferred Stock been converted on that day pursuant to notice of conversion in the manner provided in subparagraph (4) above.

        (6)     Consolidation, Merger. In the event of a consolidation, merger or other transaction in which the shares of Class B Common Stock are exchanged for or converted into other securities, cash or any other property, the shares of the Series B Preferred Stock will be similarly exchanged or converted but they shall for such purpose be valued at the value provided in the last sentence of subparagraph (7).

        (7)     Liquidation Rights. Upon any liquidation, dissolution, or winding up of the corporation, whether voluntary or involuntary, the holders of any Series B Preferred Stock will be entitled to receive, before any distribution is made to the holders of shares of stock ranking junior to the Series B Preferred Shares or any distribution (other than a ratable distribution), is made to the holders of stock ranking on a parity with the Series B Preferred Shares, the greater of (A) the par value of the shares of Series B Preferred Stock, or (B) an amount equal to the value established as provided in the following paragraph, plus accrued dividends.

On the date as of which it becomes necessary to fix a value for Series B Preferred Stock pursuant to this subparagraph (7) or the preceding subparagraph (6), the value of one share of Series B Preferred Stock shall be deemed to be equal to the "Current Average Price" of one share of Class A Common Stock (the average of the closing market price of the Class A Common Stock on the last day of each of 

the four calendar quarters immediately preceding such valuation date), multiplied by the "Conversion Ratio".

        (8)     Certain Restrictions. Whenever dividends or distributions on shares of the Series B Preferred Stock are in arrears, the Company shall not have the right to declare or pay dividends or other distributions on, redeem or purchase any shares of stock ranking junior to or at a parity with the Series B Preferred Stock unless simultaneously therewith, such arrearages are paid in full.

                                (h)     No Shareholder shall be entitled as of right to purchase or subscribe for any part of any unissued stock or any additional stock to be issued by reason of any increase in the authorized capital stock of the corporation or the issuance of bonds, certificates of indebtedness, debentures, or other securities convertible into stock of the Corporation, but such unissued stock or such additional stock or options to purchase stock may be issued and disposed of pursuant to resolution of the Board of Directors to such persons, firms, corporations or associations as may be deemed advisable by the Board of Directors in the exercise of its discretion.

                FOURTH:     The office of the Corporation is to be located in the Town of Elma, County of Erie, and State of New York. The address within the State of New York to which the Secretary of State shall mail a copy of process in any action or proceeding against the Corporation which may be served upon him is Seneca Street and Jamison Road, East Aurora, New York.

                FIFTH:     The duration of the corporation is to be perpetual.

                SIXTH:     The number of directors shall be not less than three nor more than nine.

                The directors of the corporation need not be stockholders.

                The Board of Directors shall have power to hold its meetings for all purposes outside of the State of New York at such places as, from time to time, may be designated by the By-Laws or by its resolution.

                No transaction entered into by the Corporation shall be affected by the fact that the directors of the Corporation, or any of them, were personally interested in it; and every director of the Corporation is hereby relieved from any disability which might otherwise prevent his contracting with the Corporation for the benefit of himself, or of any firm, association or corporation in which he may be anywise interested. No director shall be disqualified from voting or acting on behalf of the Corporation in contracting with any other company in which he may be director, officer or stockholder, or may have an interest.

                SEVENTH: The Secretary of State is designated as the agent of the Corporation upon whom process in any action or proceeding against it may be served.

                EIGHTH: To the fullest extent permitted by applicable law, as such law now exists or may hereafter be amended:

        (a)     A Director of the Corporation shall not be personally liable to the Corporation or any of its Shareholders for damage for any breach of duty in such capacity, provided that the foregoing provision shall not eliminate or limit:

        1.     The liability of any Director if a judgment or other final adjudication adverse to that Director establishes that the acts of omissions were (A) in bad faith or involved intentional misconduct or a knowing violation of law or (B) that the Director personally gained, in fact, a financial profit or other advantage to which he was not legally entitled or (C) that the acts violated Section 719 of the New York Business Corporation Law.

        2.     The liability of any Director for any act or omission prior to the adoption of the provisions set forth in this Article.

                    (b)     A Director of the Corporation shall be indemnified by the Corporation against any liabilities incurred in the capacity of Director as may be provided by written agreement with the Corporation.

                8.     The restatement of the Certificate of Incorporation, as amended, was authorized by majority vote of the Board of Directors, at a meeting duly called and held on October 4, 1988, at which a quorum was present and acting throughout.

                IN WITNESS WHEREOF, we do execute and subscribe this certificate and do affirm the foregoing as true under the penalties of perjury this 13th day of March, 1991.

 

		
	 

	/s/ Robert T. Brady

	 

	ROBERT T. BRADY, President

	 

	 

	 

	 

	 

	/s/ John B. Drenning

	 

	JOHN B. DRENNING, Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]